Vice-President Kashim Shettima has inaugurated the board of the Nigerian Consumer Credit Corporation (CreditCorp) on behalf of President Bola Tinubu, describing consumer credit access as essential to Nigeria’s ambition of achieving a $1 trillion economy.
Speaking at the event in Abuja on Thursday, Shettima said CreditCorp is building reliable credit infrastructure, providing affordable capital, and addressing cultural barriers to borrowing.
He gave examples such as enabling civil servants to buy vehicles affordably or young professionals to install solar power without large upfront payments.
In its first year, CreditCorp has disbursed over ₦37 billion to more than 200,000 Nigerians, with over half gaining access to formal credit for the first time.
Shettima set a clear target: “Access to consumer credit for at least 50 percent of working Nigerians by 2030.”
He urged the new board to uphold integrity, accountability, and strict adherence to governance rules, describing their role as critical stewards of the institution’s mission.
The board is chaired by Aderemi Abdul and includes Uzoma Nwagba (MD/CEO), Olanike Kolawole (Executive Director, Operations), Aisha Abdullahi (Executive Director, Credit and Portfolio Management), and representatives from key ministries and agencies, alongside independent directors Mohammed Abbas Jega and Toyin Adeniji.
Chairman Aderemi Abdul praised the initiative as a vital step in strengthening Nigeria’s financial system, while MD/CEO Uzoma Nwagba highlighted the corporation’s early impact and welcomed the board’s guidance for scaling consumer credit access.
The inauguration signals a major push for financial inclusion, aiming to make formal borrowing more accessible and support broader economic growth.
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