1.6m Nigerians submitted applications for Consumer Credit scheme– Nigerian Consumer Credit Corporation MD says

May 15th, 2024

Buy now, Pay later: 1.6m Nigerians submitted applications for Consumer Credit scheme? Nigerian Consumer Credit Corporation MD says

The Managing Director and Chief Executive Officer, Nigerian Consumer Credit Corporation, Uzoma Nwagba, has said that over 1.6 million Nigerians have submitted applications for the consumer credit scheme three weeks after its takeoff. The credit scheme is aimed at working citizens to access loans for important purchases.


In an interview with Channels TV, Nwagba said since the unveiling of the first phase in April by President Bola Tinubu, the volume of applications received so far has been overwhelming.


“It has been overwhelming. We didn’t expect the volume of applications or expressions of interest when we put out an EoI just like a week after I was appointed. As of today, we have about 1.6 million Nigerians who indicated interest, told us what they do, submitted their income information, and what they need credit for. We didn’t even expect that volume. So I think people have been listening to the utterances of the President and are quite expectant of this,” Nwagba  said

Speaking on his assignment, six weeks after his appointment, Nwagba said he was prepared to spearhead the current administration’s drive to broaden consumer credit availability for interested working Nigerians.

“It is our job and we are prepared to take a systematic approach to ensure that we continue to go through the demography of Nigeria,” he said