CREDICORP Unveils National Digital Device Credit Scheme to Boost Access for Working Nigerians

CREDICORP Unveils National Digital Device Credit Scheme to Boost Access for Working Nigerians

CREDICORP has launched a nationwide digital device credit programme designed to make smartphones, laptops, and other essential tech tools more affordable for Nigerians. The initiative aims to support productivity, digital inclusion, and economic mobility by providing responsible financing options for individuals who rely on digital tools to learn, work, and grow their businesses.

Over the past year, the organisation has supported thousands of citizens in acquiring life-enhancing assets, from mobility solutions that ease daily transportation to renewable energy systems that power homes and small businesses. According to CREDICORP, these efforts consistently show that when Nigerians receive fair access to credit, their quality of life improves significantly.

The newly launched programme builds on a pilot phase executed through CREDICORP’s Participating Financial Institution, E-Finance Company, with technology support from Credlock. During the pilot, more than 1,000 Nigerians were able to access smartphones through affordable credit — many for the first time. The strong repayment performance and rapid adoption demonstrated both the value of the initiative and the nationwide demand for digital empowerment.

With this expanded rollout, CREDICORP is targeting more than 15,000 beneficiaries who will now be able to access smartphones or laptops that enhance productivity, earning potential, and access to digital opportunities.

To scale the initiative, CREDICORP will continue working with E-Finance Company, while Credlock provides its intelligent device-collateral technology to ensure responsible and secure access to credit. Through this system, applicants can finance and collect devices without heavy upfront payments, removing a major barrier to ownership.

Speaking on the launch, CREDICORP Managing Director, Uzoma Nwagba, described digital access as the next frontier in national development.
“From mobility to renewable energy, we have witnessed the profound impact that access to credit can have on people’s daily lives. Nigerians are ambitious and hardworking; they simply need fair pathways to acquire the tools that move them forward. Digital devices now sit at the center of learning, earning, and productivity, and expanding access to them is a critical step in building a more digitally ready nation,” Nwagba said.

Credlock CEO, Dayo Fabayo, emphasised the transformative power of technology in the hands of everyday people.
“Every smartphone represents potential to learn, to work, to access opportunity, and to live with dignity. At Credlock, we believe the device in someone’s hand can be the bridge to their financial future. Working with CREDICORP and E-Finance allows us to scale that vision to millions of Nigerians,” he noted.

The device credit programme forms part of CREDICORP’s wider mandate to expand consumer credit nationwide and uplift living standards. By increasing access to essential digital tools, the organisation aims to build a more connected and economically resilient Nigeria.

Nigerians interested in financing digital devices can apply through CREDICORP Participating Financial Institutions via www.credicorp.ng/apply.