By Rabiu Sanusi
The Nigerian Consumer Credit Corporation (CREDICORP), led by Managing Director Uzoma Nwagba, has launched a nationwide campaign aimed at reshaping how Nigerians perceive and utilize consumer credit.
This initiative, which is part of President Bola Ahmed Tinubu’s broader economic empowerment agenda, focuses heavily on cultural reorientation to promote responsible borrowing and greater access to credit.
Speaking during a cultural reorientation engagement in Kano, Nwagba emphasized that the campaign is designed to help Nigerians access essential goods and services without the need for prolonged savings.
“Through community training, digital education, and market activations, we’re helping everyday Nigerians understand that credit is a tool for economic growth,” he stated.
The Cultural Reorientation Campaign is the third strategic pillar of CREDICORP’s framework—alongside Infrastructure and Capital—which aims to unlock greater access to goods, services, and opportunities for citizens.
“We want to end the cash-and-carry culture where people save for years to purchase basic necessities like furniture, solar systems, vehicles, or tools for work,” Nwagba explained.
He outlined the corporation’s three-pronged mandate: strengthening Nigeria’s legal and credit infrastructure, equipping financial institutions with capital and guarantees to lend more confidently, and changing societal attitudes toward credit.
“Many Nigerians still associate credit with shame or desperation. We’re here to change that narrative. When used responsibly, credit is a tool for improving lives—not ten years from now, but today,” he added.
CREDICORP itself does not lend directly to consumers but partners with banks, microfinance institutions, fintech companies, and licensed finance providers. These partners offer credit using risk-sharing mechanisms backed by CREDICORP.
“These institutions already have proximity to the people—they are trusted, and Nigerians bank and save with them,” said Nwagba.
Recognizing the financial diversity in Northern Nigeria, CREDICORP also provides Sharia-compliant, interest-free products through partners like Jaiz Bank and Alternative Bank.
“Kano, as a cultural and economic hub of the North, is the ideal place to drive this reorientation,” he noted.
Welcoming the initiative, Chairman of the Kwari Traders Association, Musa Umar Sanda, called it timely. “If the terms are simplified, our traders can truly benefit. This will help grow our businesses and improve livelihoods,” he said.
Ecobank’s Regional Manager in Kano, Mustapha Mohammed, pledged the bank’s support, stating:
“Ecobank is committed to grassroots economic development. With CREDICORP’s support, we can extend credit facilities to rural areas, especially where awareness is low.”
He added that the credit options under the scheme are significantly more affordable than traditional bank loans.
While Southern Nigeria has already experienced billions of naira in disbursements under the initiative, uptake in the North remains limited due to low awareness. “We are working hard to change that. The funds are available. People just need to step forward,” Mohammed said.
Interested Nigerians can visit creditcorp.ng or creditcard.ng to find participating financial institutions and start their journey toward a better life through responsible credit.