The Federal Government has launched SPARK, a USSD-based credit platform created by the Nigerian Consumer Credit Corporation (CREDICORP) to enable citizens to secure loans and establish formal credit histories using basic mobile phones.
Designed primarily for first-time borrowers with little to no financial footprint, the service operates entirely offline by dialing *347*333# on any mobile device.
CREDICORP expects to expand the reach of the service nationwide before the close of 2026, positioning responsible borrowing on the platform as a stepping stone toward broader financial opportunities.
The initiative was unveiled during CREDICORP’s “CREDICORP for All” showcase in Aba, Abia State, where more than 1,000 residents explored affordable credit options.
The gathering brought together local vendors, financial institutions, and government officials to demonstrate real-world applications of consumer credit, such as working capital for market traders, the YouthCred program for young entrepreneurs, and credit-financed, locally assembled tricycles for transport operators under the Securing Consumer Access for Local Enterprises (S.C.A.L.E.) framework.
CREDICORP Managing Director, Uzoma Nwagba emphasized that consumer credit should function as an accessible tool for every working Nigerian rather than a privilege for a select few.
Endorsing the rollout, Chinenye Mba-Uzoukwu, representing Abia State Governor Alex Otti, highlighted the state’s commitment to supporting enterprise-friendly policies, while MOFI Managing Director Armstrong Ume Takang noted that the intervention turns federal policy into tangible economic relief.
Since its inception, CREDICORP has disbursed more than ₦53.5 billion in consumer credit across 351,000 individuals, with women making up roughly 59 percent of the recipients.
