The Federal Government announced on Tuesday that over 1.6 million Nigerians have submitted applications for the consumer credit scheme.
The Managing Director and Chief Executive Officer of the Nigerian Consumer Credit Corporation (CREDICORP) revealed the staggering figure, emphasizing the overwhelming response to the initiative.
Launched by President Bola Tinubu on April 21, the Consumer Credit Scheme aims to provide working citizens with access to loans for essential purchases. Just three weeks after its commencement, the volume of applications received has surpassed expectations.
In an interview on Channels Television’s Politics Today, the CREDICORP boss expressed astonishment at the rapid influx of applications. He attributed the surge to the President’s statements and the heightened anticipation among Nigerians.
Since his appointment by the President on April 5, Nwagba has been tasked with leading the administration’s efforts to expand consumer credit availability for working Nigerians. Despite the short timeframe since his appointment, he assured readiness to fulfill the assignment.
Nwagba emphasized the corporation’s systematic approach to reviewing applications and ensuring equitable distribution of credit across Nigeria’s diverse demographics. The overwhelming response underscores the significant demand for accessible credit options among Nigerian citizens.
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