ABA, ABIA STATE  – The Federal Government, through the Nigerian Consumer Credit Corporation (CREDICORP), has officially commenced the disbursement of consumer credit to market women in Abia State as part of its broader financial inclusion initiative.

 

The launch took place on Thursday in Aba, where the Managing Director of CREDICORP, Mr. Uzoma Nwagba, represented by Mrs. Aisha Abdullahi, Executive Director of Credit and Portfolio Management, said the scheme is designed to enable Nigerians to access essential goods and services on credit, interest-free.

 

CREDICORP, a government-owned development finance institution, aims to enhance financial inclusion and improve citizens’ quality of life through accessible consumer credit of up to ₦2 million, without the need for collateral.

 

To access the credit, applicants are required to submit their Bank Verification Number (BVN), National Identification Number (NIN), a valid passport photo, business address, and a guarantor’s letter.

 

The credit disbursement is being carried out in collaboration with Sytiamo Technologies Limited, whose Managing Director, Mr. Michael Ogba, explained that his organization is responsible for channeling the funds directly to traders across Nigeria.

 

“We’re starting with traders because they are well-organized and easy to track,” Ogba said, adding that the project in Abia targets 20,000 traders, with a larger national goal of reaching one million market women.

 

He assured that the program would continue to other states and stressed that disbursement would be ongoing, provided beneficiaries repay their loans as agreed.

 

Chairman of the Ariaria Main Market Association, Mr. Mike Anioji, welcomed the initiative, assuring full cooperation from the market executives to ensure proper repayment and access to more opportunities in the future.