New credit scheme launched to support young people

The Nigerian Consumer Credit Corporation (CREDICORP) has launched YouthCred to make credit available for Nigerian youths. The launch, held at the Ipaja orientation camp of the National Youth Service Corps (NYSC), in Lagos, was unveiled by the Minister of Youth Development, Ayodele Olawande, and the Managing Director of CREDICORP, Uzoma Nwagba, with other stakeholders, with the theme ‘Real Financial Knowledge. Real credit: Transforming a generation with the right money skills to build a great future.’

The YouthCred is a national credit scheme aimed at providing responsible, fair, flexible, and affordable consumer credit to over 400,000 young Nigerians, including corps members.

Olawande said the scheme kicked off in the FCT Camp was not just for corps members but for all youths irrespective of their status.He added that through the YouthCred, youths can bring their big ideas, initiatives, and inventions to life.

Nwagba said the credit scheme is a revolution and a movement that will start a credit culture in Nigeria.He also noted that YouthCred is on a national campaign to change how young people in Nigeria think about money, borrowing, trust, and financial responsibility.

Lagos State Commissioner for Youth and Social Development, Mobolaji Ogunlende, expressed happiness about what he described as a revolutionary initiative from the Federal Government, adding that the Lagos State Governor, Babajide Sanwo-Olu, in his capacity, has continued to support youths in the state, which he does in social inclusion, gender equality, and youth empowerment.