Nigerians can now seek loans for food, phones and solar systems without internet access. The Federal Government's new SPARK service offers a USSD application route, but repayment conditions apply.
Nigerians can apply for SPARK consumer loans by dialling 347333#, without a smartphone or internet access The phased programme covers essentials such as food, phones, laptops and solar systems, targeting underserved borrowers SPARK loans must be repaid; applicants should check interest, fees and repayment terms and avoid agents demanding upfront payments.
The initiative, known as SPARK, was unveiled by the Nigerian Consumer Credit Corporation (CREDICORP) to expand access to affordable consumer credit, particularly among low-income earners and financially underserved Nigerians.
Through the service, eligible applicants can dial *347*333# on their mobile phones to begin the loan application process