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Nigeria’s Consumer Credit Corporation (CREDICORP) has introduced a USSD-based credit service to allow citizens to access loans using basic mobile phones without requiring internet connectivity or smartphones.
The service, named SPARK, uses the USSD code *347*333#, though the corporation noted it is expected to become widely available before the end of 2026.
The initiative was unveiled during a showcase in Aba, Abia State, aimed at expanding credit access to first-time borrowers and those without formal credit histories.
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“Consumer credit should not be a privilege reserved for a few. It should be an opportunity available to every working Nigerian,” CREDICORP Managing Director and CEO Uzoma Nwagba said.
“Today in Aba, Abia State, in Nigeria’s South East, we are demonstrating what that means in practical terms: credit for market women, a financial head start for young people, productive assets for transport operators, and with SPARK, a simple way for Nigerians to begin building their credit histories. This is how we make credit work for the people.”
The service aims to help borrowers build repayment records to improve their credit profiles.
While CREDICORP’s broader programs cover essential goods, mobility, digital devices, and energy solutions, the corporation has not confirmed if all these categories can be financed through SPARK immediately.
Since commencing operations, CREDICORP says it has facilitated more than 53.5 billion naira in consumer credit for over 351,000 Nigerians, with women making up approximately 59 percent of beneficiaries.
Abia State Governor Alex Otti‘s chief principal, Chinenye Mba-Uzoukwu, stated that the state government was fostering an atmosphere that would allow businesses to expand and more citizens to access responsible consumer credit.
“Under Governor Alex Otti’s leadership, Abia State is putting the conditions in place for businesses to grow, investments to flourish and responsible credit to reach more of our people,” Mba-Uzoukwu said, representing the governor at the event.
“By strengthening the enabling environment for enterprise, we are making it easier for initiatives such as CREDICORP to support traders, young people and hardworking families across the state.”
