Over one million Nigerians have submitted applications for the consumer credit scheme, the Federal Government said on Tuesday.

This is according to Uzoma Nwagba, Managing Director and Chief Executive Officer (CEO) of the Nigerian Consumer Credit Corporation (CREDICORP), who put the exact figure at 1.6 million Nigerians.

On April 21, President Bola Tinubu launched the first phase of the Consumer Credit Scheme. The programme allows working citizens to access loans for important purchases. Three weeks after the take-off of the scheme, the CREDICORP boss described the volume of applications received so far as overwhelming.

It has been overwhelming. We didnt expect the volume of applications or expressions of interest when we put out an EoI just like a week after I was appointed, he said during an interview on Channels Televisions Politics Today.

As of today, we have about 1.6 million Nigerians who indicated interest, told us what they do, submitted their income information, and what they need credit for. We didnt even expect that volume.

So I think people have been listening to the utterances of the President and are quite expectant of this.

Nwagba was appointed by the President as CREDICORP boss on April 5 to spearhead the current administrations drive to broaden consumer credit availability for working Nigerians interested.

About six months after his appointment, he said he was quite prepared to deliver the assignment.

It is our job and we are prepared to take a systematic approach to ensure that we continue to go through the demography of Nigeria, he added. (Channels TV)