CREDICORP Launches National Digital Device Credit Program, Expanding Access to Essential Tools for Working Nigerians

 CREDICORP has announced the launch of a nationwide digital device credit program aimed at making smartphones, laptops, and other essential digital tools more affordable and accessible to working Nigerians. This initiative represents a major expansion of CREDICORP’s mission to increase access to productive assets through fair and responsible consumer credit.

Across the country, progress is shaped by access to tools that enable learning, earning, and full participation in today’s digital economy. Over the past year, CREDICORP has supported thousands of Nigerians in acquiring mobility solutions, renewable energy systems, and other essential assets—interventions that have consistently proven that when Nigerians can obtain the tools they need through responsible credit, their livelihoods improve rapidly.

The newly launched digital device credit program builds on the success of a completed pilot phase executed in partnership with E-Finance Company and powered by Credlock’s technology. Through this pilot, more than 1,000 Nigerians were able to access smartphones via affordable credit—many for the first time. Strong repayment performance and rapid uptake demonstrated both the demand for and impact of accessible device financing.

With this national rollout, CREDICORP aims to scale the program significantly, targeting over 15,000 Nigerians who will now be able to finance smartphones and laptops that enhance their productivity, earning potential, and digital participation.

To deliver the program at scale, CREDICORP is partnering with E-Finance Company, one of its Participating Financial Institutions, while Credlock provides technology support through its intelligent device-collateral system. This collaboration ensures that applicants can seamlessly apply for, finance, and collect digital devices without the heavy burden of upfront payments.

Reflecting on the launch, Uzoma Nwagba, Managing Director of CREDICORP, described the initiative as a natural progression of the organisation’s mandate.

“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 centre of learning, earning, and productivity, and expanding access to them is a critical step in building a more digitally ready nation.”

Dayo Fabayo, CEO of Credlock, emphasised the transformational potential of accessible device financing.
“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.”

This initiative forms part of CREDICORP’s broader commitment to expanding consumer credit and improving the quality of life across Nigeria. By widening access to digital tools, CREDICORP is contributing to a more connected, productive, and future-ready nation—one where every citizen can thrive.

Nigerians interested in financing digital devices through CREDICORP’s Participating Financial Institutions can begin the application process at www.credicorp.ng/apply.