Empowering women through access to credit, by Olanike Kolawole

CREDICORP was established with a clear mission: to democratize consumer credit in Nigeria. Backed by a mandate from the federal government, the organization is building a national credit infrastructure that enables responsible, scalable, and affordable credit access through licensed financial institutions and trusted vendors.

A key part of this initiative focuses on supporting women by offering asset-financing options—such as vehicles—without requiring full upfront payments. Instead, recipients receive the assets immediately, use them to generate income, and gradually repay the cost over time. This approach supports dignity, empowerment, and financial independence.

CREDICORP’s model is rooted in trust and transparency. There are no hidden charges, no coercion, and no fine print. Credit is provided as an opportunity—never as a burden—with clear, supportive terms designed to ensure long-term repayment success. This is credit delivered directly at the point of need.

The current fund is one of several being deployed across the country to turn consumer credit into a real driver of national development—reaching not only urban centres but also rural communities. Since its inception, CREDICORP has partnered with 25 financial institutions, impacted over 100,000 Nigerians, and supported access to credit in sectors including mobility, digital inclusion, clean energy, and education.

This is just the beginning. With every new partnership, CREDICORP moves closer to a future where access to credit is no longer a privilege for the few, but a right for all responsible, hardworking Nigerians. For every woman benefiting from this initiative, this is more than financial access—it is an affirmation of her right to opportunity, independence, and a better future Consumer Advocacy Foundation of Nigeria.

–Kolawole is the Chief Operating Officer of the CREDICORP