Nigerian Consumer Credit

What Nigerian Consumer Credit does

Nigerian Consumer Credit Corporation (CREDICORP) is a government-owned wholesale Development Finance Institution (DFI) established in 2025 under President Bola Ahmed Tinubu's administration, headquartered in Abuja at Centurium Place in the Central Business District. Its statutory mandate is to democratize access to consumer credit for Nigeria's working population — targeting at least 50% of working Nigerians by 2030 — and it operates through three pillars disclosed on its corporate site: Capital (wholesale funding and credit guarantees to Partner Financial Institutions), Infrastructure (consumer credit scoring and credit infrastructure), and Cultural Re-orientation (reframing credit as a productive financial tool). CREDICORP does not lend directly to consumers; the firm is exclusively a wholesale and risk-sharing entity, with consumer loans originated and serviced by 35+ Partner Financial Institutions (PFIs) that span commercial banks (Ecobank Nigeria, Wema Bank, Stanbic IBTC, Fidelity), microfinance banks (ACCION, Letshego, Alert, Moniepoint, Imowo, Abbey Mortgage, Optimus, VFD), and finance companies (Page Financials, Autochek, Credit Direct, Fewchore, Fast Credit, Renmoney).

The product surface is organised under branded initiatives tied to specific consumer use cases: C.A.L.M. (Credit Access for Light and Mobility) for CNG vehicle conversion and solar installations, with PI-CNG and solar providers as partners; S.C.A.L.E. (Securing Consumer Access for Local Enterprises) for credit channelled toward local manufacturers and vendors; C.L.I.C.K. (Credit for Laptops, Internet, Connectivity & Knowledge Devices) launched in partnership with the 3 Million Technical Talent (3MTT) federal programme; Fly Now, Pay Later for domestic air travel via Visaro and Alert MFB; YouthCred for young Nigerians; and the G.R.E.E.N. initiative. Technology is described as a consumer credit scoring and credit guarantee infrastructure with identity integration through NIMC; no proprietary AI/ML credit-scoring models, public APIs, SDKs, or patents are disclosed, and the firm is compliant with the Nigeria Data Protection Act 2023, the Freedom of Information Act 2011, and GDPR-aligned data-transfer safeguards.

Revenue derives from interest income on wholesale funding extended to PFIs and from credit-guarantee fees on guaranteed PFI-originated loans; pricing varies by partner and product, with solar repayment plans starting from N20,000/month and CNG conversion financing priced at 9–20% annual interest over 6-month terms. The end-customer base spans working Nigerians (over half accessing formal credit for the first time), civil servants, private sector employees, energy and mobility consumers, and digital-economy participants; geographic operations are currently limited to Nigeria, with disclosed presence in Abuja, Lagos, Ogun State, and Imo State. CREDICORP reports N37+ billion in consumer credit disbursed and over 227,728 beneficiaries in its first year of operations with zero non-performing loans across the PFI portfolio.

Name

Nigerian Consumer Credit

Legal name

Nigerian Consumer Credit Corporation Limited

Website

https://www.credicorp.ng/

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

11–50 employees

Short description

Nigerian Consumer Credit Corporation (CREDICORP) is a Federal Government of Nigeria wholesale Development Finance Institution that provides funding and credit guarantees to 35+ Partner Financial Institutions, enabling working Nigerians to access consumer credit for vehicles, digital devices, solar systems, and home improvements.

Ownership category

akta.pro rank

Headquarters

HQ city

Abuja

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Wholesale lending and credit guarantees to Financial Institutions: CREDICORP provides wholesale funding to Partner Financial Institutions (PFIs) and offers credit guarantees to reduce non-performing loan risk. The institution acts as a wholesale financier and risk-sharing mechanism, enabling PFIs to expand consumer credit origination. This generates revenue through interest on wholesale loans and guarantee fee income.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

CREDICORP is a wholesale Development Finance Institution that provides funding and credit guarantees to Partner Financial Institutions (PFIs) so they can originate consumer loans to working Nigerians. Through programs such as C.A.L.M., S.C.A.L.E., C.L.I.C.K., Fly Now Pay Later and YouthCred, it enables consumer credit for mobility (including CNG conversion), digital devices, solar energy systems, home improvement and life essentials via its network of 35+ financial institution partners.

Product overview

CREDICORP is a wholesale Development Finance Institution (DFI) of the Federal Government of Nigeria operating as a platform that connects consumers with credit through partnering financial institutions. The portfolio consists of multiple credit programs: C.A.L.M Fund (CNG vehicle conversion and solar energy financing), S.C.A.L.E (consumer credit for local enterprise purchases), C.L.I.C.K (digital device financing), Fly Now Pay Later (air travel credit), and YouthCred (youth-specific credit). These programs collectively enable access to consumer credit for vehicles, digital devices, solar solutions, home improvements, and life essentials through 35+ financial institution partners.

Differentiator

Problem solved

Functional benefit

Brands

• C.A.L.M Fund: Credit Access for Light and Mobility - provides loans for converting vehicles to CNG and installing solar energy systems with flexible repayments
• S.C.A.L.E
• C.L.I.C.K.
• Fly Now, Pay Later

Products and services

• C.A.L.M Fund (Credit Access for Light and Mobility) Credit program that provides affordable financing for CNG vehicle conversion and solar energy system installation, targeting Nigerian consumers, transport operators and households seeking to reduce fuel and electricity costs.
• S.C.A.L.E (Securing Consumer Access for Local Enterprises) Wholesale consumer credit initiative that channels loan demand toward locally manufactured goods and services, supporting domestic industries and local job creation through Partner Financial Institutions.
• C.L.I.C.K (Credit for Laptops, Internet, Connectivity & Knowledge Devices) Credit scheme that finances laptops, smartphones, tablets and connectivity devices for students, freelancers, remote workers and other Nigerians participating in the digital economy, with flexible installment plans.
• Fly Now, Pay Later BNPL-style financing product that lets middle and upper income domestic air travelers book flights and repay through structured installments via partner PFIs.
• YouthCred

Quantifiable outcome

• Over 227,728 Nigerians accessed consumer credit through CREDICORP programs in the first year of operations.
• +5 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

14 partnerships are on record, tiered core and minor.

• 35 Partner Financial Institutions (PFIs)coreChannel Partner/ Reseller/ Distributor · 20 June 2026CREDICORP's primary distribution channel is its network of 35 Partner Financial Institutions (PFIs) including CREDIT DIRECT, ACCION MFB, ABBEY MORTGAGE BANK, OPTIMUS BANK, FEWCHORE FINANCE COMPANY LTD, FAST CREDIT FINANCE COMPANY, PAGE FINANCIALS, Autochek/VFD Microfinance Bank, ECOBANK NIGERIA LTD, WEMA BANK, LETSHEGO MFB, and others. These PFIs originate, process, and service consumer credit loans backed by CREDICORP's wholesale funding and credit guarantees.
• IDIPR (Ijebu-Ode)minorStrategic or Co-development Partner · 20 June 2026IDIPR (Ijebu-Ode) partnered with CREDICORP and Imowo Microfinance Bank to distribute 50 Nigerian-assembled tricycles to transport operators in Ijebu-Ode, Ogun State. IDIPR appears to be a local government or community development authority.
• Imowo Microfinance BankminorChannel Partner/ Reseller/ Distributor · 20 June 2026Imowo Microfinance Bank co-partnered with CREDICORP and IDIPR for the tricycle distribution initiative in Ijebu-Ode, serving as a local PFI for the program.
• Presidential Compressed Natural Gas Initiative (Pi-CNG)coreStrategic or Co-development Partner · 22 April 2026The Presidential CNG Initiative partnered with Moniepoint Microfinance Bank, CREDICORP, and National Credit Guarantee Company to provide affordable credit for vehicle conversion to CNG at interest rates as low as 9% annually. 100,000 conversion kits available for nationwide deployment. Initiative addresses upfront cost barriers preventing Nigerians from switching to cheaper CNG energy.
• Moniepoint Microfinance Bank LimitedcoreChannel Partner/ Reseller/ Distributor · 22 April 2026Moniepoint Microfinance Bank is a key PFI partner providing CNG conversion financing at interest rates as low as 9% annually. As part of the Presidential CNG Initiative, Moniepoint helps deliver affordable credit to low-income transport operators for spreading conversion costs over several months.
• Pi-CNG & EVscoreTechnology or Integration · 22 April 2026Pi-CNG & EVs signed an MoU with CREDICORP, Moniepoint Microfinance Bank, and NCGC to provide affordable CNG vehicle conversion financing. The partnership offers 6-month repayment plans at 9–20% annual interest, targeting 100,000 vehicles initially with a goal to cut fuel costs by 60–75%.
• VisarominorChannel Partner/ Reseller/ Distributor · 18 March 2026Visaro partnered with CREDICORP and Alert Microfinance Bank to deliver the 'Fly Now, Pay Later' credit scheme for domestic air travel in Nigeria, enabling eligible customers to book flights and repay over time.
• Alert Microfinance BankminorChannel Partner/ Reseller/ Distributor · 18 March 2026Alert Microfinance Bank is a PFI partner delivering the 'Fly Now, Pay Later' scheme for domestic air travel, providing structured financing for flight bookings with repayment over time.
• National Identity Management Commission (NIMC)minorOthersNIMC is listed as a shareholder partner, providing identity infrastructure (NIN) for consumer credit scoring and verification purposes.
• National Insurance Commission (NIC)minorOthersNIC is listed as a shareholder partner, providing regulatory oversight for insurance products related to consumer credit.
• Federal Radio Corporation of Nigeria (FRCN)minorOthersFRCN is listed as a shareholder partner, likely contributing to cultural reorientation objectives through broadcast media.
• Federal Competition and Consumer Protection Commission (FCCPC)minorOthersFCCPC is listed as a shareholder partner, providing consumer protection regulatory oversight.
• 3 Million Technical Talent (3MTT) Programme / Federal Ministry of Communications, Innovation & Digital EconomycoreStrategic or Co-development PartnerThe 3MTT Programme under the Federal Ministry of Communications, Innovation & Digital Economy is CREDICORP's launch partner for the C.L.I.C.K. initiative. The national pilot enables eligible 3MTT participants to access laptops and work-ready devices on credit, transforming skills into jobs, income, and economic mobility.
• Pi-CNG (for C.A.L.M. Fund)coreStrategic or Co-development PartnerPi-CNG is a key partner for the C.A.L.M. (Credit Access for Light and Mobility) Fund, which enables Nigerian consumers to convert vehicles to CNG and install solar energy systems. The C.A.L.M. Fund is a collaboration between MOFI, CREDICORP, and Pi-CNG.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Branch International: Digital consumer lender operating across Africa and other emerging markets providing personal loans to underbanked populations. Comparable customer profile (first-time formal borrowers) and consumer credit products.
• Carbon (formerly Paylater): Nigerian digital lender offering consumer credit and BNPL products to individuals. Comparable target customer (working Nigerians) and product set, but operates as a private fintech rather than a wholesale DFI.
• FairMoney: Nigeria-licensed microfinance bank providing digital personal loans and consumer credit to salaried and self-employed Nigerians. Comparable customer segment and consumer credit product, but private/fintech model.
• Renmoney: Nigerian consumer and SME lender offering personal loans, salary-backed loans, and asset finance. Comparable consumer credit focus and partnership with CREDICORP (listed among PFI partners).

Regional players

• FIRA (Fideicomisos Instituidos en Relación con la Agricultura): Mexican federal development trust providing wholesale credit guarantees and funding to financial institutions for rural and consumer-facing credit. Comparable DFI/wholesale model with credit guarantee architecture, but operating in a different geography.

Direct peers

• Bank of Industry (BOI): Nigeria's federal industrial development bank, also government-owned, providing wholesale financing and guarantees to financial institutions and enterprises. Directly comparable as a Nigerian federal DFI; indeed, BOI is itself a CREDICORP shareholder and partner on the S.C.A.L.E. initiative.
• Development Bank of Nigeria (DBN): Nigerian federal DFI providing wholesale funding and credit guarantees to PFIs for SME lending. Closest direct analogue to CREDICORP's wholesale-DFI model, although focused on SME rather than consumer credit.
• Agricultural Development Bank of Nigeria (BOA): Government-owned development finance institution providing concessional credit through partner institutions to a defined beneficiary base. Comparable federal-DFI, partner-led distribution model to CREDICORP.
• Nigeria Export-Import Bank (NEXIM): Federal government-owned DFI providing wholesale financing and guarantees for Nigerian businesses. Same federal DFI archetype as CREDICORP, though oriented to export/trade finance rather than consumer credit.
• National Credit Guarantee Company (NCGC): Nigerian federal credit guarantee company providing risk-sharing to financial institutions. Direct operational peer given its role providing credit guarantees alongside CREDICORP on the CNG conversion program.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/CrediCorpNG
• Facebookweb.facebook.com/profile.php?id=61557873571493
• LinkedInlinkedin.com/company/credicorpng

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nigerian Consumer Credit