AWC Statehouse Desk
Abuja — February 27, 2026
The Board of the Nigerian Consumer Credit Corporation (CREDICORP) has been formally inaugurated on behalf of President Bola Ahmed Tinubu, marking a significant milestone in the Federal Government’s drive to expand access to consumer credit and stimulate economic growth.
Speaking at the inauguration ceremony, the President’s representative stated that access to consumer credit is fundamental to Nigeria’s ambition of becoming a one-trillion-dollar economy.
He emphasised that improving the quality of life for Nigerians requires closing the long-standing gap between access to capital and human dignity, noting that affordable and structured credit systems are essential for economic empowerment and social mobility.
According to him, President Tinubu established CREDICORP to build a trusted national credit infrastructure capable of expanding responsible lending while reducing borrowing costs for ordinary Nigerians.
The Corporation is expected to provide catalytic capital to financial institutions, support the development of consumer credit products, and help address cultural resistance to credit through financial literacy and institutional trust-building.
Officials at the event described the inauguration as a strategic step toward deepening financial inclusion, boosting household purchasing power, and stimulating domestic demand in key sectors of the economy.
With the Board now in place, CREDICORP is expected to begin operationalising its mandate in alignment with the administration’s broader economic reform agenda.
