FG Launches N200,000 Loan Scheme For Nigerian Youths
The Federal Government on Thursday officially launched the Youth Credit Initiative under the Nigerian Consumer Credit Corporation (CREDICORP), describing it as a bold step towards empowering young Nigerians and giving them a solid footing in a credit-based economy.
Under the scheme, eligible Nigerian youths could access up to N200,000 single-digit interest loan under the “YouthCred” initiative operated by CREDICORP.
The programme, which has N9billion as take-off funds for the first phase, will commence with serving members of the National Youth Service Corps (NYSC) across the 774 local governments and over 8,000 electoral wards.
The Minister of Youth Development, Ayodele Olawande, unveiled the scheme on Thursday in company of Managing Director/CEO of CREDICORP, Engineer Uzoma Nwagba at the NYSC orientation camp in Kubwa, the nation’s capital.
He said with the official launch of the scheme, corps members can register for the loan facility after which they will undergo training.