Hot SourceOnyebuchi Ezigbo in Abuja
In a bid to address the transportation challenge facing many Nigerians due to high cost of vehicles and limited financing options, the Consumer Credit Corporation (CrediCorp) yesterday commenced a nationwide rollout of its a second auto financing programme, delivering cars to new beneficiaries.
CrediCorp, in collaboration with Autocheck, yesterday at a handover event in Abuja, gave out keys to owners of 20 brand new vehicles.
Speaking during the ceremony, Managing Director and Chief Executive Officer of CrediCorp, Mr. Uzoma Nwagba, said the event marked a major step in expanding access to vehicle ownership in the country.
He said: “Owning a car is more than just a convenience—it’s a gateway to economic opportunity, independence, and higher quality of life.
“Recall that CrediCorp has been providing highly discounted credit for brand-new locally-assembled vehicles of all types, through its Project S.C.A.L.E. (Securing Consumer Access for Local Enterprises) initiative.
“This will continue and remain highly discounted to support local industry. However, the reality is that most Nigerians can only afford to purchase used cars.”
In a statement, CrediCorp said it expanded its credit access to pre-owned cars through partnership with AUTOCHECK, ensuring that more Nigerians can own cars with credit tailored to their financial realities.The uptake of CrediCorp’s pre-owned vehicle financing initiative has been overwhelming since the offer opened on March 1, 2025.
“So far, thousands of applications have been received from across Nigeria; the first 205 applicants successful through credit checks by the participating financial institution are receiving their vehicles.
“Today marks a significant milestone in CrediCorp’s commitment to expanding access to consumer credit for vehicle ownership.
“The wave of beneficiaries continues. For many of the new car owners, this program is more than just a means of transportation—it’s a life-changing opportunity.”
While expressing appreciation, a school teacher in Abuja – Amaka Okafor, said she had relied on public transport for years, often struggling with long commute times and unreliable service.
“This car is more than just a vehicle to me—it’s freedom. I no longer have to worry about getting to school late or standing for hours waiting for a bus. I can now focus on my work and spend more time with my family,” she said with her voice filled with emotion.
Many other beneficiaries at the event echoed similar sentiments, emphasising how access to credit was making mobility a reality for everyday Nigerians.
As part of President Bola Ahmed Tinubu’s Renewed Hope Agenda, the Nigerian Consumer Credit Corporation was established in April 2024 to drive economic inclusion and expand access to consumer credit for Nigerians. CrediCorp achieves its mandate through three key pillars: first, infrastructure (by strengthening Nigeria’s consumer credit infrastructure, ensuring that every economically active citizen has a comprehensive credit score). Second, capital (by providing wholesale funding and credit guarantees to financial institutions committed to expanding consumer credit access).
