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Credicorp: NYSC Unveils N200,000 Loan Scheme For Corps Members

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The Nigerian Consumer Credit Corporation has unveiled a new initiative to empower corps members with access to single-digit interest loans of up to N200,000 under a programme dubbed “YouthCred.”

The scheme officially kicked off on Wednesday in Abuja with the signing of a Memorandum of Understanding between Credicorp and the National Youth Service Corps.

Speaking at the ceremony, the Managing Director/CEO of Credicorp, Uzoma Nwagba, disclosed that N9bn has been earmarked for the first phase of the programme, targeting NYSC members nationwide.

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He explained that the initiative goes beyond credit access, aiming to instill responsible borrowing habits and financial planning among young Nigerians.

READ ALSO:NYSC Deploys 1,700 Corps Members To Bauchi State

He said the programme is part of President Bola Tinubu’s consumer credit drive announced during his Democracy Day address on June 12.

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“The heart of YouthCred is actually not just credit, but credit orientation that is teaching young Nigerians, especially as they are coming into the workforce, teaching them good credit habits, teaching them how to build a credit history, teaching them how to plan financially and borrow responsibly, and then ultimately also giving them credits that enables them to access goods and services,” he said.

Eligible corps members will be required to complete a brief digital credit education course before they can access the loans.

Those who repay promptly can gradually qualify for higher amounts, up to the N200,000 cap.

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READ ALSO:Pick Up Corps Members Or Refund Their Transport Fee – NYSC urges Corps Employers

The loans are expected to support a variety of needs including relocation, acquisition of work tools and devices, skills training or small-scale business funding.

Nwagba emphasised the strategic importance of the NYSC scheme to national development, describing it as a “national gold mine for credit reorientation.”

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Our first target for this is N9 billion. But like I said in the signing ceremony, the loans will grow, and the amounts will grow as the programme continues to gain adoption,” he added.

He urged beneficiaries to embrace the opportunity with discipline, stressing that repayment is vital to sustaining and expanding the scheme.

In his remarks, the Director-General of the NYSC, Brigadier General Yusha’u Ahmed, who was represented by Brigadier General Olakunle Nafiu, hailed the initiative as “epoch-making,” praising Tinubu for prioritising Nigerian youths.

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READ ALSO:Don’t Lose Hope – NYSC To Corps Members

The DG assured Credicorp of NYSC’s full cooperation, including the integration of credit education modules into orientation and training programmes.

He added that the programme would not only empower corps members during service but also prepare them for life afterward, creating a generation of financially literate, credit-worthy, and business-minded Nigerians.

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He stated, “I am glad and I want to thank the MD/CEO of CrediCorps and his staff for this initiative and partnership. I particularly would like to appreciate His Excellency, Mr President, for having the Nigerian youths at heart and driving this initiative.

“It shows that Mr President is committed to this, and he’s passionate about this. We are glad that we are recognised at that level.”

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MOWAA Authorities Shun Edo Assembly Committee, Give Reason

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Authorities of the Museum of West African Art (MOWAA) on Monday refused to appear before the Edo State House of Assembly Ad hoc Committee which was set up to investigate its operations and funding.

Recall that Governor Monday Okpebholo, had last month, asked the Assembly to determine the stake of the state government having committed N3.3bn and true ownership of MOWAA.

At the resumed sitting of the Committee on Monday, MOWAA, in a letter by its lawyer, Olayiwola Afolabi, said it earlier informed the Committee that it would be sub judice for it to attend the public hearing due to the pendency of the same matter before the Federal High Court, Benin City.

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In the letter, MOWAA informed the Committee that other committees of the Federal Government and the House of Representatives have been constituted to look into the same issues.

READ ALSO:Why Niger Delta Suffers Most — Jonathan

The letter said documents it previously submitted to the Assembly showed that everything about MOWAA was genuine and transparent.

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MOWAA, in the documents it submitted, said, “No funds from any international institution had been received for the building of MOWAA until after it was very clear what MOWAA was and was not.

“All funding was received subsequent to the time in the middle of 2021 that it was clear to potential donors that there would be two separate organisations one focused on Benin heritage art and another on modern and contemporary, broader West African art and research/education.

“Funding from the German Government did not come until the end of 2022 – a year and a half after the Palace disassociated itself from MOWAA. The fact that there would be two separate museums was communicated to the Benin Dialogue Group (the European museums) in the meetings of October, 2021 at the London meeting and again in Hamburg in the meetings of March 2023, and further confirmed in writing to all Benin Dialogue Group members approximately two years ago when MOWAA formally withdrew from the group meetings.”

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READ ALSO:Police Evacuate Expertriates As Thugs Invade MOWAA In Benin

Speaking before the Committee, the state Accountant General, Julius Oseimen Anelu, said N3.8bn was released for the building of MOWAA between 2022 and 2024.

He said funding for MOWAA by the Edo State Government was appropriated in the budget.

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He said the $18m from donors did not enter the state’s coffers.

On his part, the Benin Monarch, Oba Ewuare II, who was represented by Prince Aghatise Erediauwa, accused former Governor Godwin Obaseki of making efforts to hijack the processes of the returned artefacts.

READ ALSO:Okpebholo Revokes MOWAA Land Title

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He accused former Minister of Information and Culture, Alhaji Lai Mohammed and a former Director General of National Commission for Museums and Monuments (NCMM) Albert Tijani, of fighting the Palace to defend the actions of the Legacy Restoration Trust (LRT).

Oba Ewuare II said the LRT was used to solicit funds abroad using his name.

The Benin Monarch said the Federal Government gazette, which recognised him as the custodian of the returned artefacts, made the LRT promoters realise that they were fighting a lost battle.

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Chairman of the Ad hoc Committee, Hon Ade Isibor, expressed shock at the action of MOWAA.

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Hon. Isibor said the suit cited by MOWAA would not stop the Committee’s investigation, saying the Assembly and the Edo State Government were not involved in any litigation involving MOWAA.

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According to him, “The powers of parliament to look into funds disbursed by the Executive is sacrosanct and cannot be taken away by any court.

“We are shocked that MOWAA did not attend sitting or come to give a verbal presentation. The Committee adopted the documentary evidence forwarded to us without by MOWAA.”

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He Can’t Fix His Party Let Alone Nigeria – Oshiomhole Blasts Atiku

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The lawmaker representing Edo North Senatorial District, Adams Oshiomhole, has criticised former Vice President Atiku Abubakar.

Speaking in an interview on Politics Today, a programme on Channels Television monitored by DAILY POST on Monday, Oshiomhole alleged that Atiku, who cannot fix his party, cannot fix Nigeria’s problems.

His comment comes after Atiku officially joined the African Democratic Congress, ADC.

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Atiku formally joined the ADC, the coalition-backed party, on Monday ahead of the 2027 general elections.

Reacting, Oshiomhole said, “If Atiku as a former vice president under PDP could not fix PDP, he could not reconstruct it, he could not provide leadership and use his influence which he had built, how can you lay claim to fix Nigeria.

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“Former President Olusegun Obasanjo gave Atiku a lot of leverage, so much power, yet he couldn’t use it to fix the PDP,” Oshiomhole said.

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Gov Mohammed Flags Off Construction Of 203.47-kilometre Rural Roads

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Governor Bala Mohammed of Bauchi State has flagged off the construction of 203.47-kilometre rural roads in the state.

Speaking during the flagging off of the roads in Gamawa Local Government Area of the state on Monday, Mohammed said the road construction would be carried out with the Federal Government intervention under its Rural Access and Agricultural Marketing Programme (RAAMP).

According to him, the roads represented more than physical infrastructure but symbolises his administration’s vision of Bauchi state where no community was left behind, where development was fair and balanced and driven by the needs of the people with equity and justice.

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We are grateful to the federal government, we are grateful to the World Bank and all the development partners.

READ ALSO:Bauchi Govt Procures 13 Tuberculosis X-ray Machines Worth $1.9m

“Roads are the architect of opportunities. They connect farmers to markets, women to healthcare, children to schools, security agencies to vulnerable communities and rural economy to national prosperity.

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“For decades, many rural communities in Bauchi have suffered neglect. Roads became impassable during rainy seasons, farmers lost produce, students struggled to reach schools and sick people were unable to get timely medical attention,” he said.

Mohammed, who said that the days of neglect of the rural communities were over, added that RAAMP remained a key pillar for his transformative agenda and aligned with his Bauchi project 1&2.

He said RAAMP also aligned with the Bauchi Agricultural modernisation, inclusive development, improved governance, youth empowerment, poverty reduction and sustainable infrastructure.

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READ ALSO:Bauchi Board Laments Low Teacher Turnouts In Training Exercise

According to him, RAAMP was not just about roads, it’s about connecting communities, boosting the rural economy and laying the foundation of lasting prosperity.

He highlighted the roads to include 26.8 kilometers Mararaba Liman Katagum-Boli-Kafinmawa-Mararaba Dajin roads, 14.75km Dargazu- Gambaki-Chinade-Gangai road, 28km Gamawa – Sakwa road.

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Others included; 14.45km Misau- Beti- Maladunba roads, 6.6km Giade – Tagwaye road, 6.68km Yana-Fago road, 6.71km Mararraban Dajin- Dajin road, 36.65km Dott-Dado- Baraza road, 24km Lanzai-Papa road.

He further explained that the road construction also included 4.91km Gadar Maiwa- Zakara road, 25km Dagu-Ningi road, 8.86km Nabordo – Gadan Doka.

READ ALSO:Bauchi Begins Production Of Exercise Books, Chalks For Schools

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The governor called on traditional rulers to support contractors and remained vigilant and provide intelligence on security and safety.

Also speaking, Engr. Aminu Mohammed, the National Coordinator (RAAMP)
Coordinator said that the state has disbursed over N6 billion in counterpart funding to RAAMP, making it one of the top performing states.

These roads will open critical agricultural corridors, reduce travel time and post harvest losses, improve access to markets, schools and healthcare.

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“It will also enhance rural productivity and inclusion, stimulate economic activities across all the three senatorial zones in the state,” he said.

He called on the contractors to deliver the project with the highest standard of engineering professionalism and compliance with environmental and social safeguard.

The Coordinator also called on the communities to take ownership of the roads and take care of and protect them.

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