FG begins disbursement of consumer credit to Abia market women

The Federal Government has commenced the disbursement of consumer credit to some market women in Abia through the Nigerian Consumer Credit Corporation (CREDICORP).

Launching the disbursement in Aba on Thursday, the Managing Director of CREDICORP, Mr Uzoma Nwagba, said the scheme would enable citizens to access goods and services on credit.

Recall that CREDICORP is a government-owned development finance institution committed to enhancing consumer credit access.

Nwagba, represented by the Executive Director, Credit and Portfolio Management, Mrs Aisha Abdullahi, said the aim was to boost the quality of life and financial inclusion.

According to him, the initiative, which was unveiled by the Federal Government in April, offered Nigerians interest-free consumer credit of up to N2 million.

He announced that the institution was in partnership with Sytiamo Technologies Limited to lend to market women across the country.

Nwagba further explained that CREDICORP would not lend directly to individuals, but would support financial institutions that provide credit.