The Nigerian Consumer Credit Corporation (CREDICORP) has launched YouthCred, a consumer credit initiative tailored for serving members of the National Youth Service Corps (NYSC). The program was formally unveiled on Friday, in line with President Bola Ahmed Tinubu’s Democracy Day commitment to extend credit access to 400,000 Nigerians.
YouthCred is more than a loan, it’s a transformative platform designed to equip young Nigerians with financial education, access to affordable credit, and the opportunity to build a responsible credit history from an early stage.
“YouthCred is not just a loan. It’s a movement,” CREDICORP declared in a statement. “It equips young Nigerians with credit education, tailored financing for relocation, devices, business, or personal needs, and a chance to build a credit history early.”
To bring the program to life, CREDICORP signed a formal Memorandum of Understanding (MoU) with NYSC, initiating a collaborative effort to roll out credit access across all 36 states. As part of the implementation strategy, NYSC officials have been trained nationwide on the YouthCred platform to support corps members with financial education and loan facilitation.
Corps members can now apply for credit via the official website: www.youthcred.com.
Speaking with Nairametrics ahead of the launch, CREDICORP CEO Uzoma Nwagba emphasized that YouthCred is not a traditional loan scheme but a lifeline for corps members as they navigate their service year.
“Imagine being posted to a remote village, you need a fan, basic furniture, or even a motorbike for mobility. Or you’re sent to a law firm in the city and need professional attire or a laptop. YouthCred gives you the tools to start strong and repay in small bits,” Nwagba explained.
The loan amounts range from ₦100,000 to ₦150,000, repayable in easy installments throughout the service year. With corps members now earning a monthly NYSC allowance of ₦70,000, the scheme provides flexible borrowing against future income.
YouthCred offers one of the most affordable credit options in Nigeria, with near single-digit interest rates, a rarity in a country where consumer credit is often inaccessible and expensive.
However, access to the facility is conditional upon completion of a mandatory financial literacy training. The digital training module covers core topics including budgeting, credit scores, loan management, and financial responsibility.
“This isn’t just about lending money,” Nwagba added. “It’s about building a financially responsible generation, young Nigerians who can access credit when they need it, and repay it wisely.”
The launch of YouthCred represents a major step in democratizing consumer credit in Nigeria and supports the broader national vision for economic empowerment, job readiness, and youth development.
