The Federal Government of Nigeria has officially launched the Consumer Credit Scheme under the Nigeria Consumer Credit Corporation (CrediCorp) to make responsible credit accessible to millions of Nigerians.
This initiative aims to provide flexible financing that helps citizens purchase essential goods and services while building a healthy credit culture across the country.
What is the Consumer Credit Scheme by CrediCorp?
The Consumer Credit Scheme is a government-backed loan initiative powered by CrediCorp, a Federal Government-owned company. Its mission is to expand consumer credit access to at least 50% of working Nigerians by 2030.
To achieve this, CrediCorp is:
Tackling structural barriers to consumer credit in Nigeria.
Providing capital, guarantees, and policy support to financial institutions.
Partnering with stakeholders such as the Central Bank of Nigeria, fintechs, credit registries, and consumer protection agencies.
What is Consumer Credit?
Consumer credit allows you to buy goods or services now and pay over time. It comes in two main forms:
Installment Loans: For fixed purchases like cars or household appliances, paid in regular monthly installments.
Revolving Credit: Like credit cards, you borrow up to a limit and pay back gradually, with the option to reuse the credit.
This scheme is designed to help working-class Nigerians boost their purchasing power without needing to pay upfront.
Who Is Eligible?
The CrediCorp loan is targeted at:
Salaried workers
Self-employed professionals
Individuals with a consistent income and valid identification
Note: This is not a palliative or grant. It is a loan that must be repaid under agreed terms and conditions.
What Makes It Different?
Unlike informal loan options, the CrediCorp Consumer Credit Scheme offers:
Transparent terms
Lower interest rates (compared to private lenders)
No hidden charges
A chance to build a credit profile for future opportunities
How to Apply for the CrediCorp Consumer Credit Scheme
Here’s the direct link to the official application portal:
👉 Apply now via: https://www.credicorp.ng/credit
Please ensure you have:
Your National Identification Number (NIN)
Proof of income (e.g. payslip or business records)
Bank Verification Number (BVN)
An active bank account
The FG Consumer Credit Scheme 2025 is an important step toward empowering responsible Nigerians with the financial resources they need. It is best suited for those who are ambitious, financially disciplined, and ready to take advantage of structured loans to improve their lives.
