According to the MoU, eligible corps members would access up to N200,000 single-digit interest loan under the “YouthCred” initiative.

Speaking at the signing of the MoU in Abuja, Managing Director/Chief Executive Officer of CREDICORP, Uzoma Nwagba, said N9billion has been earmarked for the first phase of the programme.

Nwagba said the programme was in fulfilment of President Bola Tinubu’s Democracy Day address on June 12, where he promised that a credit initiative targeting 400,000 Nigerians, including youth corps members, would commence.

He said that the first phase of YouthCred focuses on NYSC members, who will be required to complete a short digital credit education programme before becoming eligible for the credit facility.

According to him, the loans are intended to support a range of needs, including relocation, purchase of work tools or devices, skills training, and funding for small businesses.