President Bola Tinubu announced the launching of the first phase of the Consumer Credit Scheme on April 21, a programme designed to offer credit facilities to working citizens in the country.
The President’s special adviser on media and publicity, Ajuri Ngelale, said the first phase of the scheme will begin with civil service members before extending to the main public.
Ngelale emphasized that consumer credit plays a pivotal role in modern economies, empowering individuals to elevate their standard of living by acquiring goods and services upfront and responsibly managing payments over time.
The scheme facilitates vital investments like housing, transportation, education, and healthcare, crucial for sustaining stability and pursuing personal aspirations.
He noted that registration for the initial phase will conclude on May 15, 2024, for those interested in participating.
Below are five simple steps to follow to apply for the loan scheme before the deadline of the first phase:
1. Visit the Official Website
As a working Nigerian, particularly a civil servant, visit the official website of the scheme which is credicorp.ng to express interest.
Once the website is open, click on the bold Register Now icon which is on the website. This will direct the applicant to the personal information page where the applicant would be asked to fill in all his personal information, including state of origin and state of residence.
- The applicant is expected to fill in his first, middle (optional), and surname on this page.
- The applicant will also add his phone number, email address, and date of birth.
- The applicant will also be required to fill in his or her gender whether male or female, the state of residence, and the state of origin.
- Then the applicant can click on proceed to the next page on the website.
2. What You need the loan for
After filling in the personal details and clicking proceed, the applicant will be directed to the next page where he must state reasons for applying for the loan.
- The applicant will also be required to state the amount he can easily pay back within six months.
- The applicant will be asked to answer and whether he has borrowed from a microfinance bank before.
- If yes, the applicant will be asked to state the highest amount he has ever borrowed from a microfinance bank.
- In addition, the applicant must fill in his National Identity Number details.
3. Employment Details
After proceeding to the next page, the applicant must fill in his employment details.
- The applicant must fill in his years of working experience.
- The applicant must also state how much he earns monthly.
- The applicant must also fill in what bank he receives his monthly salary.
- Lastly, the applicant must fill in his bank account where he wants to receive the loan.
4. Secondary Employment Details
On the next page, the applicant must fill in his secondary employment details (side hustle). This is an optional requirement for those who have secondary employment.
- However, if yes, the applicant has a secondary employment, he will fill in the details of the employment.
- The applicant must also fill in his years of his experience on the page.
- The applicant must also fill in the details of the minimum earning of his secondary employment.
- The applicant must also fill in the bank details of where he receives his secondary employment.
5. Face Capture
Lastly, the applicant will be required to do a face capture to complete the registration. After the face registration, the registration will be completed.
