Fast Credit, CREDICORP unveil national credit scheme for 1,500 Nigerians

Fast Credit Limited, a finance house licensed by the Central Bank of Nigeria, in partnership with CREDICORP has launched a nationwide consumer credit scheme designed to address the financial needs of 1,500 middle-income earners across the country.

Set to commence this November, the scheme is poised to benefit over 15,000 middle-income earners across the country, offering tailored financing options with competitive interest rates and flexible repayment plans.

Driving financial inclusion in challenging times, Emeka Iloelunachi, managing director of Fast Credit Limited, emphasised the company’s dedication to supporting consumers during this critical time.

He remarked, “As one of the leading financial institutions in the nation, we are keen about reaching out to consumers at this time, understanding their evolving needs, and providing innovative solutions to address them.”

“We are particularly excited about the potential to finance basic assets, school fees, health loans and making a tangible difference in the lives of our customers.”

Uzoma Nwagba, managing director of CREDICORP, highlighted the importance of the initiative, given Nigeria’s recent economic challenges.

“This partnership between CREDICORP and Fast Credit Limited is a lifeline for middle-income earners, offering them an opportunity to access affordable credit for essential needs. Whether it’s for school fees, household appliances, or transitioning from kerosene to gas, we’re committed to helping Nigerians manage these financial pressures,” Nwagba said.

This collaborative effort will empower Nigerians to access funds for essential needs, including school fees, household items, health-related expenses, and sustainable energy transitions.

Key outcomes from the collaboration showed middle-income earners will have access to loans at reduced interest rates for a specific period, borrowers will benefit from personalised repayment schedules tailored to their distinct financial requirements and streamlined procedures that will ensure swift access to funds, making it easier for middle-income earners to manage their financial needs.