CREDICORP: 20,000 Armed Forces personnel to receive consumer credit

The Nigerian Consumer Credit Corporation (CREDICORP) has kicked off a consumer credit Fund for personnel of the armed forces.

This is in partnership with Fewchore Finance, one of its participating financial institutions (PFI).The programme aims to benefit 20,000 armed forces personnel in its first phase, according to a statement.

This fund – kicking off with the Armed Forces Remembrance Day – advances President Bola Ahmed Tinubu’s vision to extend consumer credit access to over 50% of working Nigerians by 2030 and demonstrates a specific commitment to improving the welfare of Nigerian soldiers who protect and serve the nation.

Via affordable consumer credit, members of the Armed Forces can now acquire life-enhancing household assets and meet immediate financial challenges. The program aims to ease their financial burden, boost morale, and enhance the well-being of their families, most of whom they leave for the battlegrounds.

“This program shows President’s commitment to supporting those who protect and serve our nation,” said Uzoma Nwagba, Managing Director/CEO of CREDICORP in the statement. “By making credit accessible to armed forces personnel, we not only honor their service but also advance the President’s goal of using consumer credit for much better lives.”

Sunkanmi Balogun, Managing Director/CEO of Fewchore Finance, added, “We are proud to support the courageous men and women of the armed forces. At Fewchore Finance, we have a long-standing relationship with the Armed Forces and remain committed to creating solutions that address real needs.”

The initiative, will involve all branches of the armed forces. Phased implementation will ensure equitable access, coordinated with the respective Accounts and Budget departments of the forces. Launching this program on Armed Forces Remembrance Day carries deep symbolic meaning, showcasing the nation’s gratitude and dedication to the brave men and women who protect its peace and security, the statement said.