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President Bola Tinubu has approved the appointment of Engineer Uzoma Nwagba as the Managing Director and Chief Executive Officer of the Nigerian Consumer Credit Corporation (CREDICORP).
A statement issued on Friday by Ajuri Ngelale, Special Adviser to the President (Media & Publicity), said the appointment is in keeping with the president’s efforts to ensure financial inclusion and economic prosperity for the majority of Nigerians.
CrediCorp will achieve this mission by fixing the structural barriers to accessing consumer credit in Nigeria, and catalysing the market with capital, guarantees, and policy.
CrediCorp, including its initial ₦100 billion consumer credit fund, works closely with the Central Bank of Nigeria, the financial sector, identity management, credit registries, fintechs, consumer protection, and policy makers on this mission.
The CrediCorp business is focused on unifying, standardising and democratising credit registry and credit scores in Nigeria, with NIN as the singular identifier.
It will also provide credit guarantees to financial institutions to accelerate people-centered credit products and incentives purchase of locally-manufactured goods and services.
The organisation will provide wholesale and catalytic lending to financial institutions committed to advancing consumer credit.
He said prior to his appointment, Nwagba served as Chief Operating Officer of the Bank of Industry in charge of driving micro-credit and other financial interventions.
Ngelale said the appointee had also served as Senior Investment Associate, specialising in financial services in the areas of banking, insurance and pension at the African Capital Alliance.
He said that before then, Nwagba was a software engineer at Microsoft, where he led multiple teams building enterprise and mobile software for emerging markets in Brazil, Russia, India, China, South Africa, and Nigeria.
The spokesman said the President expected Nwagba to bring to bear his wealth of experience in finance and technology, as well as his record in driving financial interventions across Nigeria in this new role.
According to him, the target is to expand access to credit to all classes of Nigerians while promoting financial inclusion and enhancing the quality of life of the people.
“Engineer Nwagba, 36, holds a Master’s of Business Administration from the Harvard Business School and a first-class Bachelor’s of Engineering from Howard University, Washington, DC.
Prior to his appointment, Engineer Nwagba served as Chief Operating Officer of the Bank of Industry, in charge of driving micro-credit and other financial interventions at the institution”. he said
