Ecobank Nigeria, CrediCorp to offer affordable financing to customers

Ecobank Nigeria has partnered with the Nigerian Consumer Credit Corporation (CrediCorp) to offer affordable and flexible loans to customers.

These loans can be used to finance a variety of needs, including paying school fees, rent, maintenance costs, medical bills, car purchase & repairs, asset purchase, and more. The programme is available to civil servants and private-sector employees whose salaries are paid through Ecobank.

New customers can also benefit upon presentation of employer undertaking to pay subsequent salaries through Ecobank. Starting this January, the initiative provides flexible repayment options and a streamlined loan application process.

CrediCorp, a development finance institution (DFI) established by the federal government, is focused on enhancing access to consumer credit for Nigeria’s workforce.

Under the partnership, CrediCorp will provide funds to Ecobank, for on-lending to qualified customers. The arrangement covers personal loans as well as asset financing for items like solar systems, home appliances, phones, laptops etc. and vehicle conversions to compressed natural gas (CNG).

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Adeola Ogunyemi, head of consumer banking at Ecobank Nigeria, expressed excitement about the collaboration, emphasising that it would provide salary earners, both in the public and private sectors, with better access to financial products.

She said, “This collaboration is an excellent opportunity to serve our customers, and we believe it will improve the quality of life for many Nigerians. Eligible customers can use the loans to purchase electronics, solar systems, or CNG vehicle conversions, as well as for other essential expenses like school fees, rent, upkeep, medical bills, and car maintenance. We encourage working-class Nigerians to open an account with Ecobank to benefit from this initiative.”

The loans come with affordable interest rates, a two-year term, and a repayment plan that ensures equal monthly installments, including principal and interest, do not change throughout the life of the facility, regardless of the economic situation of the country.

Ecobank Nigeria is part of the Ecobank Group, a leading pan-African banking organisation. The bank provides a full range of financial services to individuals, businesses, and institutions through its network of over 240 branches and 35,000 Xpress Point agencies across Nigeria.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.