The Federal Government has introduced a USSD-based consumer credit service that will allow Nigerians to access loans using basic mobile phones without the need for smartphones or internet connectivity.
The service, known as SPARK, was unveiled by the Nigerian Consumer Credit Corporation (CREDICORP) as part of efforts to expand access to consumer credit, particularly among first-time borrowers and individuals with little or no formal credit history.
CREDICORP announced 347333# as the USSD code for accessing the service, although a date for its full nationwide rollout is yet to be confirmed.
The corporation said SPARK was expected to become more widely available before the end of 2026, urging interested Nigerians to look out for further announcements on its rollout.
According to CREDICORP, the initiative is designed to help borrowers build repayment histories, strengthen their credit profiles and improve their chances of accessing other financial services in the future.
Speaking on the initiative, the corporation’s Managing Director and Chief Executive Officer, Uzoma Nwagba, said consumer credit should be accessible to Nigerians regardless of their access to advanced mobile technology or traditional financial services.
“Consumer credit should not be a privilege reserved for a few. It should be an opportunity available to every working Nigerian,” he said.
The initiative is expected to promote financial inclusion by providing an alternative channel for accessing consumer loans, particularly for Nigerians in areas with limited internet connectivity and those who rely on basic mobile phones.
By leveraging USSD technology, SPARK seeks to remove some of the digital barriers that prevent people from accessing formal credit facilities, while providing first-time borrowers with an opportunity to establish a verifiable credit history.
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