The Nigerian Consumer Credit Corporation (CREDICORP) has partnered with the National Youth Service Corps (NYSC) to launch YouthCred, a loan initiative that will provide corps members with access to credit facilities of up to ₦200,000.
The partnership was formalised through the signing of a Memorandum of Understanding (MoU) in Abuja. CREDICORP CEO, Engr. Uzoma Nwagba, revealed that ₦9 billion has been earmarked for the first phase of the programme, which aligns with President Bola Tinubu’s pledge to expand consumer credit to 400,000 Nigerians.
To access the loans, corps members must complete a short digital credit education course. The funds can be used for relocation, business tools, vocational training, or small startups. Nwagba emphasized that YouthCred aims to promote responsible borrowing and financial literacy.
NYSC Director-General, Brigadier General Olakunle Akinyemi Nafiu, praised the initiative as a historic milestone, noting that it will empower corps members with the financial means to pursue entrepreneurship and contribute to national development.
“With YouthCred, our members now have a credible platform to turn their ideas into reality,” Nafiu stated.
Leave a Reply