FG Launches USSD Credit Service for Nigerians

​In a major push to deepen financial inclusion, the Federal Government has introduced SPARK, a novel USSD-based credit service designed to enable Nigerians to access microloans and build formal credit histories using basic mobile devices.

​Spearheaded by the Nigerian Consumer Credit Corporation (CREDICORP), the initiative eliminates the barriers of smartphones and internet connectivity, targeting first-time borrowers and everyday citizens who operate outside traditional banking systems.

​How to Access SPARK

• ​Dialing Code: Interested applicants can connect to the platform directly by dialing *347*333# on any mobile phone.

• ​Target Audience: Market traders, young professionals, transport operators, and unbanked working citizens.
• ​Core Benefit: Beyond immediate financing, responsible borrowing and steady repayment help users build verifiable credit profiles, unlocking greater financial opportunities over time.

​Expanding Consumer Credit Nationwide

​The service was officially unveiled during CREDICORP’s ‘CREDICORP for All’ showcase in Aba, Abia State, where over 1,000 local residents experienced live demonstrations of accessible financing. The event featured initiatives like YouthCred for young Nigerians and the S.C.A.L.E. program, which provides credit-backed, locally assembled tricycles to transport workers.

​According to CREDICORP Managing Director Uzoma Nwagba, consumer credit should not remain a privilege for a select few. Since inception, the corporation has facilitated over N53.5 billion in consumer credit for more than 351,000 Nigerians, with women comprising roughly 59 percent of beneficiaries. SPARK is slated for full nationwide rollout before the close of 2026.

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​CREDICORP SPARK Scheme Launch Footage

​This video provides visual coverage of CREDICORP’s rollout event in Aba, highlighting the introduction of the SPARK product and credit-backed assets for local beneficiaries.