Ola Akinwunmi
The Nigerian Consumer Credit Corporation (CREDICORP) has kicked off its nationwide Cultural Reorientation Programme in Kano, targeting rural dwellers and downtrodden Nigerians. The programme, established under President Bola Ahmed Tinubu’s Renewed Hope Agenda, aims to democratize access to consumer credit for all hardworking Nigerians.
The Managing Director of CREDICORP, Uzoma Nwagba, explained that the programme is designed to shift long-standing perceptions around credit, helping Nigerians see it as a tool for growth rather than a trap. The Corporation enables Nigerians to acquire essential goods and services on credit rather than relying on limited cash-based transactions.
He said, “Through its mandate, the Corporation enables Nigerians to acquire essential goods and services—such as locally assembled vehicles, solar solutions, and home improvement products—on credit rather than relying on limited cash-based transactions. This campaign represents the third pillar of CREDICORP’s national strategy, Cultural Reorientation, which complements the Corporation’s other pillars, Infrastructure and Capital.”
“In the last year, this has already been demonstrated through the rollout of impactful initiatives such as Project S.C.A.L.E. (Securing Consumer Access for Local Enterprises), which channels consumer credit toward the purchase of goods and services from local vendors and manufacturers to strengthen Nigeria’s domestic industries; the C.A.L.M. Fund (Credit Access for Light and Mobility), which provides credit for CNG vehicle conversions and solar home systems.”
Mr. Uzoma Nwagba hints that YouthCred is also a national programme offering responsible, affordable credit to young Nigerians at the very start of their economic lives, beginning with 100,000 NYSC members.
“Cultural Reorientation is CREDICORP’s effort to shift long-standing perceptions around credit—helping Nigerians see it not as a trap, but as a tool for growth. The programme represents the public through a mix of community training sessions, digital sensitization campaigns, and on-ground activation events designed to promote responsible borrowing and financial literacy.”
“It also engages financial institutions, encouraging a transition from traditional collateral-heavy models to more inclusive credit assessment methods that better reflect the realities of everyday Nigerians. Therefore, participants at the activation were sensitized on: What consumer credit is and how it works, including both interest-based and non-interest financing options.”
CREDICORP has rolled out several initiatives, including:
Project S.C.A.L.E.: Securing Consumer Access for Local Enterprises, which channels consumer credit toward the purchase of goods and services from local vendors and manufacturers.
C.A.L.M. Fund: Credit Access for Light and Mobility, which provides credit for CNG vehicle conversions and solar home systems.
YouthCred: A national programme offering credit to young Nigerians at the start of their economic lives, beginning with 100,000 NYSC members.
The Cultural Reorientation Programme includes community training sessions, digital sensitization campaigns, and on-ground activation events designed to promote responsible borrowing and financial literacy. Participants were sensitized on what consumer credit is and how it works, the difference between responsible credit use and harmful debt, and the long-term value of building and maintaining a verifiable credit history.
CREDICORP partners with financial institutions to expand access to affordable and culturally appropriate credit solutions. The programme has already gained traction, with further activations scheduled to take place across the nation in the coming months.
The CREDICORP Cultural Reorientation Programme marks the beginning of a national conversation that positions consumer credit as a tool for economic mobility and improved quality of life. With its focus on financial literacy and responsible borrowing, the programme has the potential to make a significant impact on the lives of Nigerians.
