Consumer Credit Scheme: Matters arising

one of the scheme would kick off with the civil service. Thereafter, its cascading effect shall be felt by other segments of the Nigerian public.As part of the ‘Renewed Hope Agenda’ President Bola Tinubu ’sadministration, the birth of the Consumer Credit Scheme /Corporation signals yet another landmark – a colour amber, in its key performance indicators.

Methinks that this developmental stride outweighs a mere actualisation of political slogan or a mere appeasement of the Bretton Woods or multilateral agencies that are often labelled as being surreptitiously moulding our present socio-economic reconfiguration. If anything, the bottom line is that it appears to be a right step in the right direction.

This lends credence to the fact that consumer credit scheme plays crucial roles in the economic development of emerging economies. This is often attained by providing access to financial services for individuals who may not have access to traditional banking institutions. However, such scheme also comes with a unique set of challenges and prospects that need to be carefully considered in this discourse to ensure their effectiveness and sustainability.

Despite this upbeat, there are still some challenges with infrastructure, making it excruciating for the average Nigerian to seamlessly cash in and out, via the electronic channels. For instance, power has remained elusive, while other supporting infrastructural facilities have been in comatose.Before flagging, please keep in mind that Disqus does not moderate communities. Your username will be shown to the moderator, so you should only flag this comment for one of the reasons listed above.

Source: Loan Digest (loandigest.net)

Consumer Credit Scheme

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