FG Opens Fresh N5m Opportunity for Nigerian Youths: Apply Now
- The Federal Government has called on Nigerian youths between the ages of 18 and 39 to apply for up to N5 million loans from CREDICORPS
- According to the authority, the loans are opened to youths who are gainfully employed, and their reduction would be structured with the applicant's salary
- However, some Nigerians who have taken to the comment section of the announcement have started sharing their views and experiences about the scheme
The Federal Government has announced the introduction of YouthCred, a credit card scheme that gives room for the employed Nigerian youths between the ages of 18 and 39 to have access to loans that are affordable. In the scheme, interested applicants can get up to N5 million through the Nigerian Consumer Credit Corporation (CREDICORP).
According to the National Orientation Agency, "the programme is designed to help young workers overcome financial challenges, improve productivity, and build a formal credit history without falling into the hands of loan sharks or unregulated lenders."
Source: Twitter
The authority maintained that the loan has government backing and that its repayment is structured with salary reduction. The agency says the "YouthCred provides a safer, transparent alternative to high-interest loan apps and informal lenders."
Nigerians share experiences on YouthCred
However, some Nigerians who have visited the website to apply for the loan have taken to the comment section of the post to share their experiences. Below are some of their comments:
Ugo Alhassan questioned why the interest rate was not specified:
"Why isn’t the interest rate stated upfront? What exactly does low and affordable mean? Those are not terms but placeholders. Policies shouldn’t be announced on vibes. This government keeps blurting out half-formed ideas instead of presenting clear, thought-through plans."
Source: Twitter
James Monday pointed out the red flag in the scheme:
"I find it funny how people make public their personal details without even verifying the authenticity of the scheme. Any serious-minded money lender will state clearly how much interest it will take. The fact that they are mute on it is a red flag."
Nasirudeen questioned the credibility of the scheme:
"YouthCred for Employed Youths feels more like audio than action. I have applied several times and got rejected each time, with no clear reason. I even reached out to the support team, but no specific feedback was provided."
Olumuyiwa said that the government was not serious about it:
"I just hope they are serious this time around. It was launched before, but nothing was heard."
Agba Awo raised suspicion:
"I got to a point where I was requested to input my banking login details, and I had to take a pause there."
See the full statement here:
UK reacts to FG's request on Ekweremadu
Legit.ng earlier reported that the UK government has reportedly rejected the request of the federal government's plea to transfer former deputy Senate president, Ike Ekweremadu, to Nigeria.
Ekweremadu was convicted and sentenced to nine years and eight months in the UK for illegal organ transportation.
The federal government's delegation, led by the AGF Lateef Fagbemi and the Minister of Foreign Affair, Yusuf Tuggar.
Source: Legit.ng
