By Onilede Titi Faith
The Nigerian Consumer Credit Corporation (CREDICORP), in collaboration with the National Youth Service Corps (NYSC), has launched a new credit scheme to empower serving corps members.
Unveiled on Wednesday, August 6, 2025, in Abuja, the YouthCred initiative offers loans of up to ₦200,000 to corps members at a single-digit interest rate.
A total of ₦9 billion has been allocated for the first phase of the program. To qualify, corps members must complete a digital financial literacy course covering topics such as budgeting, credit management, repayment obligations, and credit history building.
The loans are intended to support a range of needs, including relocation, acquisition of work tools or devices, training, and small business startups.
Borrowers will initially be eligible for lower amounts and can access the full ₦200,000 after successfully repaying their first loan.
Speaking at the launch, CREDICORP’s Managing Director/CEO, Engr. Uzoma Nwagba, said the initiative is part of President Bola Ahmed Tinubu’s Democracy Day pledge to empower 400,000 Nigerians, beginning with corps members.
NYSC Director-General, Brigadier General Olakunle Nafiu, described the partnership as “epoch-making” and praised it as a step toward enhancing financial independence, encouraging entrepreneurship, and instilling financial discipline among Nigerian youth.
