ABUJA — The Nigerian Consumer Credit Corporation (CREDICORP) has partnered with the National Youth Service Corps (NYSC) to launch YouthCred, a new ₦9 billion credit scheme that will give Corps Members access to loans of up to ₦200,000.
The agreement was sealed on Wednesday in Abuja with the signing of a Memorandum of Understanding (MoU) between both agencies. CREDICORP’s Managing Director/CEO, Engr. Uzoma Nwagba, said the programme is part of President Bola Tinubu’s Democracy Day pledge to extend credit facilities to 400,000 Nigerians, starting with youth corps members in the first phase.
Under the initiative, eligible Corps Members will be required to complete a short digital credit education course before accessing the funds, which can be used for relocation expenses, acquisition of work tools, vocational training, or small-scale businesses.
“The heart of YouthCred is not just about giving credit, but building a culture of responsible borrowing and financial planning,” Nwagba explained. He noted that members who start with smaller loans and repay responsibly will become eligible for the maximum ₦200,000 facility.
NYSC Director-General, Brigadier General Olakunle Akinyemi Nafiu, hailed the scheme as “epoch-making,” praising President Tinubu for initiating the project with the Corps.
“YouthCred will enhance the financial independence of our members, promote entrepreneurship, and contribute to national development,” Nafiu said. He added that many Corps Members have viable business ideas but lack access to startup capital, stressing that the scheme will help bring those ideas to life.
He assured that the NYSC would fully integrate the credit education module into Corps orientation and training programmes to ensure smooth implementation.
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