Apply: FG Launches Loan Scheme to Give Corps Members Free N200k Credit
- The Nigerian Consumer Credit Corporation (CREDICORP) and NYSC have launched YouthCred, a loan scheme offering up to N200,000 to corps members
- Beneficiaries must complete a digital credit education course before accessing the single-digit interest loans for business, relocation, or skill development
- With ₦9 billion earmarked for the first phase, the initiative aims to promote financial discipline and entrepreneurship among Nigerian youth
Corps members across Nigeria are set to benefit from a new credit facility following the signing of a Memorandum of Understanding (MoU) between the Nigerian Consumer Credit Corporation (CREDICORP) and the National Youth Service Corps (NYSC).
The initiative, named YouthCred, is designed to provide eligible youth corps members with access to loans of up to N200,000 at a single-digit interest rate.

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It is part of a broader national credit strategy announced by President Bola Tinubu during his Democracy Day address, which targeted 400,000 Nigerians, including NYSC members, The Guardian reported.
N9b allocated for loan programme
Managing director and Chief Executive Officer of CREDICORP, Engineer Uzoma Nwagba, said ₦9 billion has been allocated for the first phase of the programme.
He described the Corps as a “national gold mine for credit reorientation” and stated that YouthCred would become a core component of the NYSC scheme.
He noted that beneficiaries would be required to undergo a brief digital credit education course before they become eligible.
The loans are intended to help with relocation, equipment purchase, business funding, or skills development.
Nwagba explained that corps members would start with smaller loans, increasing up to ₦200,000 as they repay previous amounts.
He said:
“The heart of YouthCred is actually not just credit, but credit orientation that is teaching young Nigerians, especially as they are coming into the workforce, teaching them good credit habits, teaching them how to build a credit history, teaching them how to plan financially and borrow responsibly, and then ultimately also giving them credits that enables them to access goods and services.”
Following the signing ceremony, Nwagba told journalists that the facility is expected to expand as more corps members adopt the programme.
He then called on beneficiaries to be disciplined and committed to timely repayments to help ensure the scheme’s long-term success.
NYSC welcomes landmark loan programme
NYSC Director-General, Brigadier General Olakunle Nafiu, welcomed the collaboration. He described the agreement as a landmark move that would empower corps members and strengthen the Scheme’s impact on national development.

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According to him, many corps members have the talent and entrepreneurial drive but lack access to capital. He believes the YouthCred initiative offers them the opportunity to launch viable ventures and become more productive during and after their service year.
“I am glad and I want to thank the MD/CEO of CrediCorps and his staff for this initiative and partnership. I particularly would like to appreciate His Excellency, Mr President, for having the Nigerian youths at heart and driving this initiative,” he said.
The NYSC pledged full cooperation to ensure seamless execution, including integrating the credit education component into the corps’ training programme.
African Union invites applications for roles
Earlier, Legit.ng reported that the African Union announced recruitment for seven key positions for qualified candidates.
These seven roles ranged from logistics and medical warehouse management to market intelligence and ERP systems.
Prospective applicants with HND, BSc, or MSc qualifications were encouraged to apply through the online jobs portal.
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng