Great news for Nigerian youth corps members as The Nigerian Consumer Credit Corporation (CREDICORP) has joined forces with the National Youth Service Corps (NYSC) to launch YouthCred – a new loan program that puts up to ₦200,000 directly into the hands of serving corps members.
The partnership became official in Abuja when both organizations signed a Memorandum of Understanding, marking what could be a game-changer for young Nigerians starting their careers.
CREDICORP’s CEO, Engr. Uzoma Nwagba, announced that they’ve allocated a whopping ₦9 billion for the program’s initial phase.
This initiative is actually part of President Bola Tinubu’s broader vision to provide consumer credit access to 400,000 Nigerians across the country.
Here’s how it works: corps members interested in the loan will need to complete a quick digital course on credit education first.
Once that’s done, they can use the funds for practical needs like relocating for their service year, buying tools to start a business, getting vocational training, or launching small enterprises.
Nwagba emphasized that this isn’t just about handing out money—it’s about teaching young people how to borrow responsibly while building their financial knowledge along the way.
NYSC Director-General, Brigadier General Olakunle Akinyemi Nafiu, couldn’t contain his excitement about the program, calling it a “historic milestone.”
He believes YouthCred will give young Nigerians the financial support they need to transform their innovative ideas into real businesses that can help drive the country’s development.
“With YouthCred, our members now have a credible platform to turn their ideas into reality,” Nafiu explained, clearly seeing this as more than just a loan program.
