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Group Hails Credicorp After Hitting Over 80,000 Beneficiaries Within A Year Of Operation
@Source: newsinvestigatorsng.com
News Investigators/ The Social Advancement Forum (SAF) is convinced that the Nigerian Consumer Credit Corporation (CREDICORP) is making a huge difference in ensuring Nigerians have access to consumer credits.
In a statement signed by its Chairman Tahir Ibrahim Tahir and Secretary Shehu Atta, SAF noted that it was gratifying that 83,236 Nigerians have so far benefitted from funds committed to CREDICORP by the Bola Ahmed Tinubu administration within a year of operation.
It said: SAF’s findings on CREDICORP show that the corps gender inclusion policy has 49% of recipients of the loans as women which is quite impressive. A high percentage of the recipients of the loan are youths from across the country, with figures showing that 45% of loan recipients are youths.
“Funds from the credit corp have been channelled to key sectors of the economy including life essentials such as education and medical needs, according to the Chief Executive Officer of CREDITCORP, Uzoma Nwagba, who has said that other key sectors covered by the scheme include automobiles, especially in areas such as compressed natural gas and electric vehicles.
“For us, about one year into the establishment of the creditcorp, the interest shown by Nigerians has been quite encouraging, unlike the response with other similar schemes in the past.”
SAF added that the introduction of the National Credit Guaranty Company Limited (NCGC) will complement Credicorp’s work.
“We are aware that NCGC was introduced to de-risk lending and boost access to finance for Micro, Small, and Medium Enterprises.
“This would contribute greatly to the success of schemes like the Creditcorp especially as the company was designed to unlock credit access and stimulate inclusive economic growth.
“We see Credicorp and NCGC as agencies that would surely transform the credit landscape, and improve the standard of living of the people across the country, it added.
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