The Traffic

FG Rolls Out N6 Billion Credit Lifeline for NYSC Members

By Achimi Muktar

What if your NYSC year came with more than just a khaki uniform and government allowance? What if it also came with a credit score—and the power to buy what you need now and pay later?

That’s exactly what’s about to happen.

In a groundbreaking move, the Nigerian Consumer Credit Corporation (CREDICORP) is launching YouthCred, a bold N6 billion initiative designed to empower National Youth Service Corps (NYSC) members with access to affordable consumer credit—and a crash course in financial literacy.

“This isn’t just a loan scheme,” says CREDICORP CEO Uzoma Nwagba. “It’s a stepping stone to a lifetime of responsible financial behavior.”

Building a New Credit Culture—Starting with NYSC

YouthCred is more than just pocket money. It’s part of President Bola Tinubu’s broader strategy to build a national credit culture—a society where Nigerians understand credit, manage debt wisely, and use financial tools to improve their lives.

And where better to start than with fresh graduates just entering the workforce?

“Financial habits are formed early,” Nwagba said. “We’re using this critical transition period to teach corps members how money—and credit—really works.”

Through YouthCred, corps members will be eligible to receive between N100,000 and N150,000 in upfront consumer credit. With NYSC monthly allowances now at N70,000, the loans are designed to be repaid in manageable installments across the service year—at near single-digit interest rates, something nearly unheard of in Nigeria’s lending landscape.

Real-Life Support for Real-Life Needs

Whether you’re posted to a remote village or a high-end city firm, settling in as a corps member can be costly.

“You might need a standing fan, mattress, laptop, suit—or even a bike to move around,” said Nwagba. “YouthCred makes that possible without burdening your pocket upfront.”

The aim? Equip corpers with what they need to start strong, boost productivity, and reduce the initial pressure of relocation.

No Credit Without Class

Here’s the twist: no financial literacy, no loan.

Before any corps member gets access to funds, they’ll be required to complete a digital training program on budgeting, credit scores, and financial planning. Interactive modules, quizzes, and assessments are all part of the package—and they’re mandatory.

“You earn your credit score before you earn your loan,” Nwagba noted. “That way, you’ve already developed smart habits before any money leaves our account.”

It’s a system designed not just to give, but to grow. By the end of their service year, participants won’t just have cleared their loans—they’ll walk away with credit history and financial confidence.

Scaling Up Fast

YouthCred is set to roll out in collaboration with financial institutions already working with NYSC. CREDICORP aims to reach up to 400,000 corps members in the next 12 months.

That’s 400,000 young Nigerians who could begin their careers not just with service experience—but with a financial head start.

So if you’re about to serve your fatherland, it might be time to think beyond CDS. Thanks to YouthCred, the federal government isn’t just giving you a uniform—they’re giving you a future with financial power.