Nigeria, Nov. 2 -- The Federal Government has unveiled a USSD-based consumer credit service that will enable Nigerians to access loans using basic mobile phones without internet connectivity or smartphones.

The service, SPARK, was introduced by the Nigerian Consumer Credit Corporation (CREDICORP) to expand access to affordable consumer loans, particularly for first-time borrowers with limited or no formal credit history.

The platform is designed to help Nigerians finance essential goods, household equipment, and productive assets; improve their quality of life; and repay over an agreed period, while stimulating demand for locally produced goods and supporting businesses.

CREDICORP's Managing Director and Chief Executive Officer, Uzoma ...