The Federal Government has introduced a USSD-based consumer credit service designed to enable Nigerians to access loans using basic mobile phones without requiring smartphones or internet connectivity.
The service, known as SPARK, was unveiled by the Nigerian Consumer Credit Corporation (CREDICORP) as part of efforts to expand access to consumer credit, particularly for first-time borrowers with limited or no formal credit history.
CREDICORP unveiled 347333# as the USSD code for accessing the service, although its full nationwide rollout has not yet been confirmed.
The corporation said SPARK was expected to become more widely available before the end of 2026, urging interested Nigerians to watch out for further announcements regarding its rollout.
The initiative is designed to help borrowers establish repayment records, improve their credit profiles and create opportunities to access additional financial services in the future.
Speaking on the initiative, CREDICORP Managing Director and Chief Executive Officer, Uzoma Nwagba, said the service was intended to make consumer credit accessible beyond traditional financial institutions.
“Consumer credit should not be a privilege reserved for a few. It should be an opportunity available to every working Nigerian,” he said.
The initiative is expected to broaden financial inclusion by providing Nigerians who do not own smartphones or have reliable internet access with an alternative channel for accessing consumer loans.
