The National Youth Service Corps (NYSC) has partnered with the Nigerian Consumer Credit Corporation (CREDICORP) to launch YouthCred, a special loan scheme offering corps members access to up to N200,000 at a single-digit interest rate.

The initiative, unveiled in Abuja during the signing of a Memorandum of Understanding (MoU) on Monday, is part of the Federal Government’s plan to boost financial access for young Nigerians. CREDICORP’s Managing Director, Engr. Uzoma Nwagba, revealed that N9 billion has been earmarked for the first phase, which focuses solely on serving NYSC members.

Before accessing the loan, corps members will complete a short digital credit education programme aimed at teaching responsible borrowing, building credit history, and financial planning. The facility can be used for relocation, work tools, skills training, or small business start-up capital.

“This is not just about giving loans,” Nwagba explained. “It’s about helping young Nigerians develop healthy credit habits that will serve them throughout their careers.”

According to the NYSC Director-General Brig. Gen. Olakunle Nafiu, the programme will help corps members turn innovative ideas into reality, boosting both their personal financial independence and Nigeria’s economic growth. He added that the credit education module will be fully integrated into the corps’ orientation and training activities to ensure smooth implementation.