CREDICORP Extends Service to Aviation Industry

Stories By Chinedu Eze

The federal government has extended its credit scheme with civil servants to the aviation industry, as workers from the aviation agencies can now access the scheme.

The organisation said the launch of the Nigerian Consumer Credit Corporation (CREDITCORP), would mark a potential turning point in the financial lives of workers, including those in the aviation industry, promising to provide a smooth landing for the economic aspirations of thousands of hardworking aviation professionals.

The inclusion of all civil servants and by extension the Nigeria Civil Aviation Authority (NCAA), the Federal Airports Authority of Nigeria (FAAN), the Nigeria Airspace Management Agency (NAMA) and others among the initial beneficiaries of this initiative is both strategic and symbolic, said the organization.

 CREDITCORP noted that the aviation regulators (NCAA), with their stable employment and regular income, represent an ideal starting point for expanding consumer credit access in a sector critical to national development. Yet, despite their steady salaries, many have long struggled with limited access to affordable credit, often resorting to high-interest loans or informal borrowing networks to meet urgent financial needs – a situation that could potentially compromise the integrity of their vital roles in ensuring air safety.

“CREDICORP, piloted by Uzoma Nwagba as its Managing Director and CEO, under the visionary leadership of President Bola Ahmed Tinubu, aims to change this narrative dramatically. By prioritizing civil servants, including those in the NCAA, in its pilot program, CREDICORP is not just offering a financial product; it’s extending a lifeline that could potentially transform the economic realities of a significant segment of Nigeria’s aviation workforce.

“For the average NCAA civil servant, CREDICORP represents more than just access to credit; it symbolizes a recognition of their economic potential and a flight path to financial empowerment. The initiative’s promise of up to 50% reduction in interest rates is particularly significant. In a country where double-digit interest rates have been the norm, this reduction could mean the difference between financial turbulence and smooth sailing for many aviation sector employees,” the organisation stated.