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“This is the first time that there has been an effort around making consumer credit available for people in Nigeria” Enjoy the full interview as #YourVoice team sat down with the Managing Director of Nigerian Consumer Credit Corporation, Uzoma Nwagba where he highlighted the vision behind creation of the...

10,780 Aufrufe • vor 1 Monat •via X (Twitter)

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Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele(Taiwo Oyedele), at the launch of YouthCred for Entrepreneurs, said the initiative represents a major step in the Tinubu administration's vision of building a credit-driven economy that expands access to finance, empowers young entrepreneurs, and creates pathways to inclusive economic growth through responsible Consumer Credit. More Details: - President Bola Ahmed Tinubu established CREDICORP with the mandate of expanding access to consumer credit to half of all working Nigerians by 2030. - The initiative is aimed at building a credit economy where responsible borrowing and good credit history create opportunities for economic mobility. - The YouthCred programme was introduced as the largest consumer credit initiative designed specifically for young Nigerians. - Phase One, targeting NYSC members, provided credit education to over 51,000 young Nigerians, with more than 30,000 progressing to responsible credit access. - Phase Two, targeted at employed young Nigerians, has already reached more than 81,000 beneficiaries. - The Federal Government has now launched Phase Three – YouthCred for Entrepreneurs, with a target of empowering 500,000 young entrepreneurs nationwide. - The programme recognises that over 90% of Nigeria's Micro, Small and Medium Enterprises (MSMEs) are micro-enterprises operated by individuals such as tailors, mechanics, farmers, content creators, caterers, artisans, fashion designers, and ride-hailing drivers. - Eligible Nigerians aged 18 to 35 years can access financing ranging from ₦200,000 to ₦2 million. - Loan eligibility is based on responsible credit behaviour, cash flow, and repayment capacity, rather than inherited wealth or traditional collateral requirements. - Financing will be delivered through regulated financial institutions, while beneficiaries will also receive support to formalise and scale their businesses. - The programme complements broader economic reforms, including the exemption of small companies from Company Income Tax, as well as the removal of VAT compliance and withholding tax burdens for small businesses since January 2026.

Daddy D.O🇳🇬

12,458 Aufrufe • vor 9 Tagen

Is easy to get discouraged after defi exploits HOWEVER its worth noting that they pale in comparison to the private credit crisis in tradfi-land... I've been wanting to highlight my good bro Martin de Rijke's recent appearance on The Rollup and he actually touched on this exact topic in it... Martin is Head Of Growth at Maple, and he spoke with Andy and Robbie Klages all about everything Maple is doing 💪 As he explains in the interview, Martin's been involved with crypto since 2015 and has been a part of the Maple team since 2022, so he has been instrumental in the project's massive success, and had a ton of interesting stuff to say regarding both Maple and defi as a whole... Below clip is- again- on the private credit crisis in macro and whether it can be an opportunity for defi and for Maple, and then it also touches on Maple's overall business model and some other interesting stuff toward the end. As noted above, the private credit crisis is far larger in scope than these defi exploits, and it is also quite representative of the problems in tradfi that defi solves - the fact that it is opaque and corrupt and is based on giant webs of counterparties where there is no way to confirm where your money is and no blockchain to check... In this regard it is an apt reminder of the inherent superiority of blockchain-based financial rails, and the value in what we are all doing here... But yeah, as always, I own a ton of $SYRUP and work with the Maple team, so will flip the 'partner' tag on this 💪 And then will also include a couple more interesting clips from the interview below, and link to the full discussion :) Massive respect to Martin for the great interview!!! 💪🥞 He's been a wonderful friend of mine for as long as I've known him and I HIGHLY, HIGHLY recommend giving him a follow on here if you aren't already doing so! :)

rektdiomedes

12,195 Aufrufe • vor 3 Monaten