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Tinubu Approves N100bn Consumer Credit Take- Off

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President Bola Tinubu has approved the commencement a N100 billion Consumer Credit Scheme for Nigerians amid escalating economic hardship in the country.

 

 

Ajuri Ngelale, the President’s spokesperson, disclosed this in a statement on Wednesday.

 

He stated that interested Nigerians are expected to visit the portal of Nigerian Consumer Credit Corporation before May 15, 2024.

 

“Consumer credit serves as the lifeblood of modern economies, enabling citizens to enhance their quality of life by accessing goods and services upfront, paying responsibly over time. It facilitates crucial purchases, such as homes, vehicles, education, and healthcare, which are essential for ongoing stability and the pursuit of their aspirations.

 

 

“Individuals build credit histories through responsible repayment, unlocking more opportunities for a better life. The increased demand for goods and services also stimulates local industry and job creation.

 

 

“The President believes every hardworking Nigerian should have access to social mobility, with consumer credit playing a pivotal role in achieving this vision.

 

“The Nigerian Consumer Credit Corporation (CREDICORP) achieves its mandate through the following: Strengthening Nigeria’s credit reporting systems and ensuring every economically active citizen has a dependable credit score. This score becomes personal equity they build, facilitating access to consumer credit, Offering credit guarantees and wholesale lending to financial institutions dedicated to broadening consumer credit access today and Promoting responsible consumer credit as a pathway to an improved quality of life, fostering a cultural shift towards growth and financial responsibility.

 

 

“In line with the President’s directive to expand consumer credit access to Nigerians, the Nigerian Consumer Credit Corporation (CREDICORP) has launched a portal for Nigerians to express interest in receiving consumer credit.

 

 

“This initiative, in collaboration with financial institutions and cooperatives nationwide, aims to broaden consumer credit availability.

 

 

“Working Nigerians interested in receiving consumer credit can visit www.credicorp.ng to express interest. The deadline is May 15, 2024.

 

 

“The scheme will be rolled out in phases, starting with members of the civil service and cascading to members of the public,” the statement said.

 

 

Recall that two months ago, a presidential spokesman, Bayo Onanuga, announced that the Federal Executive Council had given the nod for the establishment of the Consumer Credit Scheme.

 

He said the President’s Chief of Staff, Femi Gbajabiamila, will lead a committee that includes the Budget Minister, Attorney-General, and Coordinating Minister of the Economy and Finance to make the scheme a reality.

 

 

In March, the Chairman of the Federal Inland Revenue Service Chairman, Zacch Adedeji, said the Nigerian government would unveil its proposed N100 billion consumer credit loan in a few days.

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NDC Accuses Kwankwaso Of Party Hijack

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The Nigeria Democratic Congress, NDC, Vice Presidential candidate, Rabi’u Kwankwaso, has been accused of hijacking party structure in the North West

In a statement jointly signed by the party’s Northwest Vice Chairman Mohammed Rabiu Serina and Kano State Chairman Hussaini Isa Mariga respectively. the former Kano state governor was accused of excluding non-Kwankwasiyya members from contesting elective offices on its platform.

The duo who described themselves as pioneer members of the party, said they were appointed by the party’s National Leader, former Bayelsa State Governor Henry Seriake Dickson, before the party’s registration and later confirmed as substantive officers through congresses and the national convention.

Serina and Mariga further stated that they were instrumental in building the party’s structures across Kano State and the Northwest before Kwankwaso and his supporters joined the party.

“The problems began when Kwankwaso sought complete control of the party structure in Kano State during the state congresses.

“The dispute prompted the intervention of the party’s national leader, Seriake Dickson who convened a meeting and brokered an agreement granting Kwankwaso and his supporters 60 per cent control of the party structure in Kano, while the party retained 40 per cent,” the party officials said.

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Govt Demolishes Ibadan Kidnappers’ Hideout

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The Oyo State Government has demolished a house used as a hideout by the kidnappers of the sister of the immediate past Minister of Power, Adebayo Adelabu, and her twins.

 

The victims were abducted last Wednesday.

They were later rescued by the police on Saturday.

The state government on Monday moved the necessary equipment to the area to demolish the house.

The house is located at Lakoun Estate, Olomi-Olojuoro Road, in Oluyole Local Government Area.

The demolition was carried out by officials of the Oyo State Ministry of Public Works and Transportation, accompanied by operatives of the Nigeria Police Force.

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Lagos: Bandit’s Attack Warning Letter Not Verified- Police

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The Lagos State Police Command has reassured residents, parents and school authorities that there is no verified intelligence suggesting any planned attack or abduction of schoolchildren by bandits in the state.

 

The assurance followed the circulation of a threatening notice allegedly pasted at a school, claiming that bandits intended to attack and abduct pupils.

However, to forestall any security breach, the Commissioner of Police, Lagos State Command, CP Tijani Fatai, has ordered the deployment of watertight security measures across the affected area and other strategic locations in the state, with police personnel and other security agencies mobilised to protect schools, critical infrastructure and communities.

Reacting to the development, the Police Public Relations Officer, SP Abimbola Adebisi, said the Command had assessed the situation and found no credible intelligence indicating any imminent threat.

According to her :”The Lagos State Police Command has seen reports of a threatening notice allegedly pasted at a school, claiming that bandits intend to attack and abduct school children. The Command wishes to reassure parents, guardians, school authorities and all residents that there is presently no verified intelligence indicating any imminent threat of such an attack within Lagos State.

“While every security concern is treated with the utmost seriousness, members of the public are advised to remain calm and avoid panic.

“The Commissioner of Police has directed an immediate assessment of the situation and strengthened security architecture around vulnerable and strategic locations across the state.

“The Command wishes to emphasise that Lagos State remains secure and that every lawful measure is being taken to prevent criminal elements from infiltrating or operating within the state,” she said.

“The Command will not tolerate any attempt by miscreants, bandits, kidnappers or other criminal elements to threaten the peace and safety of residents. Any individual or group found engaging in acts capable of causing fear, panic or insecurity will be decisively dealt with in accordance with the law”, she stated.

Adebisi urged residents to remain vigilant and continue to support security agencies with timely and credible information, noting that security remained a collective responsibility.

She also advised members of the public to promptly report suspicious persons, objects, movements or activities to the nearest police station or through the Command’s emergency lines.

“The public is once again assured that all hands are on deck to ensure the continued safety, security and well-being of every resident of Lagos State,” she added.

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