Politics

YouthCred Launched: FG Opens New Credit Access for Young Nigerians”

Published by Akinwale Fakinlede on August 8th, 2025.

“YouthCred Launched: FG Opens New Credit Access for Young Nigerians”

The initiative, which aligns with President Bola Tinubu’s Renewed Hope Agenda, aims to widen credit access and promote financial literacy among the youth.

YouthCred is being implemented by the Nigerian Consumer Credit Corporation (CREDICORP) and was officially launched in July 2025.

According to CREDICORP, the scheme has already reached its 1,000th beneficiary and is targeting 400,000 young Nigerians across the country.

The loans are offered at low interest rates, with no requirement for collateral or guarantors.

Applicants must complete a digital financial literacy course that covers areas such as credit management, responsible borrowing, and repayment plans.

CREDICORP said the onboarding process is entirely digital, requiring only a Bank Verification Number (BVN) and National Identification Number (NIN) for swift verification.

In some cases, financed items, such as digital devices, are delivered directly to the beneficiaries.

Initially targeted at members of the National Youth Service Corps (NYSC), the programme will soon be extended to employed youths and youth-led businesses.