As part of efforts to expedite the process of expanding consumer credit access to Nigerians, President Bola Tinubu on Wednesday approved the appointment of nine persons into the Board of the Nigerian Consumer Credit Corporation (CREDICORP), the agency driving the implementation of the consumer credit scheme.
According to a press release signed by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, the following persons were appointed by the President into the Board of CREDICORP:
(1) Otunba Aderemi Abdul – Board Chairman (Independent Non-Executive Director)
(2) Engr. Uzoma Nwagba – Managing Director/Chief Executive Officer
(3) Mrs. Aisha Abdullahi – Executive Director (Credit, Risk & Portfolio)/CRO
(4) Ms. Olanike Kolawole – Executive Director (Operations)/COO
(5) Dr. Armstrong Ume Takang – Non-Executive Director (MOFI Nominee)
(6) Dr. Peter Iwegbu – Non-Executive Director (NIMC Nominee)
(7) Mr. Mohammed Nasiru Abbas – Non-Executive Director (FMITI Nominee)
(8) Mr. Marvin Nadah – Non-Executive Director (FCCPC Nominee)
(9) FMF Representative – Non-Executive Director (FMF)
According to Ngelale, the President expects the new members of the Board of this pivotal institutional vehicle to bring their vast experience, competence, and dedication to bear in their functions to achieve CREDICORP’s mandate of accelerating access to consumer credit to millions of Nigerians.
The Consumer Credit Scheme is one of the flagship policies of the Tinubu administration aimed at extending access to credit to millions of working Nigerians to enable them purchase items or services without paying the lump sum at once.
President Bola Tinubu during the presidential campaigns talked on the importance of putting in place a consumer credit scheme to help reduce the propensity to corruption. He promised to establish such a scheme once elected as president.
The President had earlier appointed the young Engr. Uzoma Nwagba as the Managing Director/Chief Executive Officer of CREDICORP. The Corporation has also launched the consumer credit scheme with applications received from over 40,000 civil servants for the pilot phase of the scheme.