Understand what the programme does, who it is designed to support, how it is delivered and the legal framework behind it.
See where the programme operates, who is eligible to access it and how support moves from application through assessment and delivery.
Consumers review the available credit products and identify the option that matches their intended purchase or financing need.
The consumer selects a participating financial institution offering the relevant credit product and terms.
The consumer submits an application through the selected participating financial institution and provides the information required for credit assessment.
The participating financial institution evaluates the application against its applicable credit, identity, affordability and product requirements before making an approval decision.
Approved applicants receive the applicable credit facility under the terms set by the participating financial institution and selected product.
Key figures from official programme reporting, shown with their reporting dates and evidence basis so that scale is not confused with independently measured impact.
CREDICORP reports that more than 200,000 Nigerians had accessed consumer credit and that over ₦37 billion in consumer credit had been disbursed within its first year of operations as reported in February 2026. The State House also reported that more than half of those beneficiaries were accessing formal credit for the first time. CREDICORP's broader objective is to expand responsible consumer-credit access through participating financial institutions, credit guarantees, wholesale funding and stronger credit infrastructure.
The available evidence reviewed establishes reported credit disbursement, beneficiary reach and institutional expansion, but does not yet provide a comprehensive independent assessment of CREDICORP's longer-term effects on household welfare, borrower affordability, indebtedness, income or financial inclusion. Reported credit access should therefore be distinguished from evidence of sustained economic or household outcomes.
Review the primary source, reporting date, verification record and evidence limitations behind the information presented on this page.
What the Record Establishes
Clear answers about the programme, eligibility, delivery, application process and how to access support safely.
The Consumer Credit Scheme is a federal initiative implemented through CREDICORP to expand access to responsible consumer credit for Nigeria's working population. It supports credit access through participating financial institutions, wholesale funding, credit guarantees and consumer-credit infrastructure.
Eligible consumers can seek credit through participating financial institutions. Actual eligibility, loan amount, repayment terms and approval depend on the financial institution, product and applicable credit-assessment requirements.
CREDICORP's consumer-credit model works through participating financial institutions. Consumers select an available credit product and PFI, then submit their application through that institution.
Start by reviewing the available credit options on CREDICORP's official platform, choose a participating financial institution offering the relevant product, and apply through that institution. Approval remains subject to the institution's credit-assessment process.
Available products cover different consumer needs, including mobility, digital devices, energy solutions, home improvement and life essentials. The specific uses and conditions depend on the credit product offered by the participating financial institution.
No. An application does not automatically result in approval. The participating financial institution assesses the application and applies the eligibility, affordability, identity and credit requirements applicable to the selected product.
Use CREDICORP's official website and consumer-credit marketplace to review available products and participating financial institutions. Avoid unofficial agents or individuals claiming they can guarantee government-backed credit.
Access the programme through its official website and service portal. Never rely on unofficial agents or links when submitting personal or financial information.
Use the programme's official website for verified information, updates and programme guidance.
Visit Official WebsiteUse the designated official channel when applying, registering or accessing programme services.
Access ProgrammeUse only CREDICORP’s official website and the participating financial institutions listed on its official credit platform. Do not pay unofficial agents who claim they can guarantee approval or secure government-backed credit for you. Never share your password, PIN or one-time passcode with anyone claiming to process your credit application.
