In a bold effort to expand access to income-generating tools and dignified work for Nigerian men, the Nigerian Consumer Credit Corporation (CREDICORP), in partnership with Sub-City Global Project and Letshego Microfinance Bank, successfully held a tricycle distribution event in Ikorodu, Lagos State, on July 28th, 2025.
The event marks another major milestone in CREDICORP’s mission to unlock economic opportunities for everyday Nigerians through asset-backed consumer credit. Dozens of beneficiaries—members of the Tricycle Owners Association of Nigeria (T.O.A.N.), Lagos Branch—received brand-new, locally assembled tricycles, fully financed through structured and affordable repayment plans facilitated by Letshego Microfinance Bank.
This rollout falls under CREDICORP’s broader S.C.A.L.E. initiative (Securing Consumer Access for Local Enterprises), which connects qualified consumers with Nigeria’s manufacturing and credit infrastructure—ensuring that lending supports both productivity and long-term economic inclusion.
Distributed in partnership with Sub-City Global Project, the tricycles provide immediate commercial value in transportation and logistics, enabling beneficiaries to build stable livelihoods in one of Lagos’s most dynamic and growing corridors.
“What we’re doing here is simple—give hardworking men the tools they need to stand on their own feet,” said Olanike Kolawole, Executive Director, Operations at CREDICORP.
“In a tough economy, asset-backed credit isn’t just a product—it’s a pathway. This program gives structure to hustle and turns effort into enterprise.”
By working with Letshego Microfinance Bank, CREDICORP ensures that credit remains both inclusive and sustainable, with repayments tied to earnings and deductions designed to minimize financial strain on borrowers.
The Ikorodu rollout also advances local content development, as all vehicles were assembled in Nigeria, reinforcing CREDICORP’s dual mandate: empowering consumers while stimulating domestic manufacturing and job creation.
As with other S.C.A.L.E. deployments across the country, this initiative is designed to make credit work for the people—targeting productive sectors such as transportation, clean energy, and micro-enterprise. Other programs like YouthCRED and C.A.L.M. reflect the same vision: providing responsible, life-enhancing credit to underserved Nigerians.
CREDICORP continues to collaborate closely with the Central Bank of Nigeria (CBN), licensed financial institutions, and trusted vendors to deliver scalable credit solutions that address real economic needs at the grassroots level.
For more information, visit: www.credicorp.ng