NYSC, CREDICORP Launch N200,000 Loan Scheme For Corps Members Nationwide
The Nigerian Consumer Credit Corporation (CREDICORP) has partnered with the National Youth Service Corps (NYSC) to introduce YouthCred, a loan programme offering corps members access to credit facilities of up to ₦200,000.
The initiative was formalised on Wednesday in Abuja through the signing of a Memorandum of Understanding (MoU) between the two institutions.
CREDICORP Managing Director/CEO, Engr. Uzoma Nwagba, revealed that ₦9 billion has been allocated for the first phase, which will focus exclusively on NYSC members.
He explained that the programme aligns with President Bola Tinubu’s Democracy Day pledge to extend consumer credit to 400,000 Nigerians, including corps members.
To qualify, applicants must complete a short digital credit education course. The loans can be used for relocation expenses, work tools, vocational training, or small business ventures.
Nwagba stressed that YouthCred is designed not only to provide loans but also to promote responsible borrowing and sound financial management.
Beneficiaries who promptly repay smaller initial amounts will be eligible for the maximum ₦200,000 facility.
NYSC Director-General, Brigadier General Olakunle Akinyemi Nafiu, described the scheme as a “milestone” in the corps’ history.
He praised President Tinubu for supporting the project, noting that it will boost corps members’ financial independence, encourage entrepreneurship, and contribute to national economic growth.
“With YouthCred, our members now have a credible platform to turn their ideas into reality,” Nafiu said, assuring the NYSC’s full commitment to its success.
