The Federal Government has opened applications for YouthCred for Employed Youth, a new credit window offering up to N5 million to young Nigerians who earn steady incomes but still face barriers accessing formal credit. The programme is being delivered through the Nigerian Consumer Credit Corporation (CREDICORP) in partnership with selected financial institutions.
The loan is designed to support essential needs such as mobility, solar home systems, rent support, digital devices, household upgrades, and work tools, and it come with no collateral requirements.
Beneficiaries will enjoy up to 12 months repayment periods, competitive interest rates, and no hidden charges.
The initiative targets employed Nigerians aged 18 to 39 across both public and private sectors.
CREDICORP has already reached 200,000 beneficiaries with N30 billion in consumer credit while maintaining what it described as zero non-performing loans. It added that YouthCred is expected to reach one million youth and offer the country’s most affordable structured credit without collateral.
Applicants are required to complete the mandatory credit education programme before submitting their forms.
To apply, interested applicants should visit https://app.youthcred.com and select Employed Youth Credit.
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