CREDICORP launches SPARK credit pilot in Abia State

The Nigerian Consumer Credit Corporation (CREDICORP) has unveiled the pilot of ‘SPARK’, a new USSD-based entry-level credit product designed to help Nigerians, particularly first-time borrowers, access credit and build formal credit histories.

Unveiled in Aba, Abia State, the product allows users to access credit via basic mobile phones without the need for smartphones or internet connectivity. The system is designed to reward responsible borrowing; as users successfully repay small amounts, they become eligible for larger credit limits, helping them establish repayment records for future financial opportunities.

The pilot event in Abia State showcased credit access for over 1,000 residents, including market women, traders, and young Nigerians. The program also featured the S.C.A.L.E. (Securing Consumer Access for Local Enterprises) initiative, which provides credit-backed tricycles to support local manufacturers and transport operators. CREDICORP aims to make the SPARK platform more widely available across Nigeria before the end of 2026.