The Federal Government has introduced SPARK, a USSD-based credit service designed to help Nigerians access loans and build formal credit histories using basic mobile phones without an internet connection.
The service was launched by the Nigerian Consumer Credit Corporation (CREDICORP), with a focus on first-time borrowers and people with limited or no formal credit history.
Interested Nigerians can begin accessing the service by dialling *347*333# on their mobile phones. The platform is designed to work without a smartphone or mobile data.
According to CREDICORP, responsible borrowing and timely repayments through SPARK could help users establish credit records and improve their access to future financial opportunities.
How to apply for the SPARK loan
Nigerians interested in the service can follow these steps:
- Open the dialler on any mobile phone.
- Dial *347*333#.
- Follow the instructions displayed in the USSD menu.
- Provide the information requested by the platform.
- Review the available loan terms and follow the application instructions.
Dialling the code does not guarantee loan approval. Applicants should confirm the terms and conditions before accepting any credit offer.
Who can benefit from SPARK?
The initiative is particularly aimed at Nigerians who have limited borrowing records or face barriers accessing formal credit. Potential beneficiaries include first-time borrowers, traders, young people and other eligible consumers.
CREDICORP said SPARK is expected to become more widely available across Nigeria before the end of 2026.
CREDICORP expands consumer credit
The service was unveiled during CREDICORP’s “CREDICORP for All” showcase in Aba, Abia State, where consumer credit opportunities were presented to more than 1,000 residents.
The event also featured demonstrations of credit access for market traders, the YouthCred initiative for young Nigerians and credit-backed tricycles for transport operators under the Securing Consumer Access for Local Enterprises (S.C.A.L.E.) programme.
CREDICORP reported that it had facilitated more than ₦53.5 billion in consumer credit for over 351,000 Nigerians since commencing operations. Women accounted for approximately 59 per cent of beneficiaries.
Important information for applicants
SPARK provides access to credit, not a grant. Applicants should check the interest rate, fees, repayment schedule and other conditions before borrowing. They should also use official CREDICORP channels and avoid agents demanding unofficial fees or promising guaranteed approval.
