The National Youth Service Corps (NYSC) has thrown its weight behind the Credit Card Initiative of the Nigerian Consumer Credit Corporation (CreditCorp).
The Director General of NYSC, Brigadier General Olakunle Nafiu, disclosed this on Wednesday during the signing of a Memorandum of Understanding (MoU) with the Nigerian Consumer Credit Corporation, held at the NYSC National Directorate Headquarters in Abuja.
General Nafiu said the initiative would strengthen the online financial transactions of Corps Members and Nigerians at large.
He lauded President Bola Tinubu for introducing the concept of credit finance as it is going to improve the national economy.
“It is safe to buy with your credit card because of its attendant benefits. We are going to support you to have access to the Corps Members in order to create enlightenment and advocacy,” the DG said.
Speaking earlier, the Managing Director/CEO of Nigerian Consumer Credit Corporation, Mr Uzoma Nwagba, said the best way to teach people about credit re-orientation is to partner with NYSC.
Nwagba said the initiative (youthcred) is a specific consumer credit package for corps members that will also teach young Nigerians good credit habits, how to build good credit history, plan financially and borrow responsibly.
He added that the Credit Corps initiative, with more than 100,000 beneficiaries will enable Corps Members have access to consumer credit that will grant them access to goods and services, start up micro-enterprises, based on their chosen SAED skills, among others.
He stated further that there was the need to build a good credit culture and proper utilisation of credit.
He said the Nigerian Consumer Credit Corporation’s synergy with NYSC would enable them engage about 400,000 Corps Members annually for the project, which would assist Nigerians live a higher quality life.
“Our first target for this is Nine Billion Naira naira (N9bn) and it will continue to grow as many people have access to the credit.
“For a start, they will be getting a loan range of around Two Hundred Thousand Naira naira (N200,000) and the offer goes beyond the service year,” Nwagba stated.
