Nigerians seeking Federal Government-backed consumer loans are being urged to watch a mobile service that allows access through phones without internet.
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The service was introduced by the Nigerian Consumer Credit Corporation (CREDICORP) to widen access to formal credit, particularly for people who have never borrowed from a bank or have little credit history. Called SPARK, it is designed to help users finance essential goods and productive assets while building repayment records that may improve future access to credit.
The announcement has generated interest, with Nigerians searching for the access code and application details. However, CREDICORP says the service is still being rolled out and is not yet confirmed to be fully operational nationwide. Wider availability is expected before the end of 2026.
The initiative covers areas including mobility, digital devices, energy solutions, home improvement and life essentials. These are the corporation’s wider consumer-credit priorities; not every category is confirmed as currently available through SPARK.
Prospective borrowers should understand that this is a loan, not a grant. Borrowers must repay money obtained under terms agreed with the participating lender. Dialling the service does not guarantee approval.
Requirements and important details
CREDICORP has not published the SPARK eligibility criteria or lending terms. In particular, it has not confirmed:
- The minimum or maximum loan amount available.
- The applicable interest rate, fees or total borrowing cost.
- The repayment period and instalment schedule.
- Whether applicants need a Bank Verification Number (BVN), proof of income, employment details or collateral.
- Which participating financial institutions will process applications.
Prospective borrowers should follow updates and avoid agents or websites demanding upfront fees or promising guaranteed approval. Review any loan offer and repayment obligations before accepting credit.
The code to apply
To access the service, use a mobile phone and dial *347*333#. Follow the instructions displayed by the Unstructured Supplementary Service Data (USSD) menu if the service is available on your network. If it does not connect, do not assume you have been rejected; the nationwide rollout is still in progress. Check CREDICORP’s official channels for updates rather than paying anyone to activate access.
