The Nigerian Consumer Credit Corporation (CREDICORP) has disbursed N3.5 billion to 10,942 beneficiaries through its consumer credit scheme, according to a statement released Thursday.
The funds were distributed through participating financial institutions within just five days of the scheme’s rollout.
Beneficiaries of the scheme include 4,786 federal and state teachers, 2,831 administrators from federal and state ministries, departments, and agencies (MDAs), 1,307 government-employed medical doctors, 1,264 workers in police and paramilitary institutions, and 753 judicial staff.
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The disbursed loans were aimed at specific needs, including the purchase of alternative energy solutions such as solar panels and compressed natural gas (CNG) conversion kits.
Other uses included home improvement, school fees, medical payments, and household item purchases.
CREDICORP’s initiative is part of ongoing efforts to ease financial pressures for public sector workers while addressing the nation’s energy challenges through alternative fuel adoption.
(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)
