Nigerians Rush to Apply as FG's New USSD Loan Code Records High Traffic
- The FG's SPARK USSD loan service indicated that disbursements were ongoing, while reporting high traffic following its introduction
- Nigerians attempting to access the service through the USSD code received a message saying demand was currently high
- The initiative, launched by CREDICORP, was designed to help Nigerians access consumer credit without smartphones or internet connections
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The federal government's new offline loan platform, SPARK, is already processing credit disbursements as Nigerians rush to access the service following its launch.
The Nigerian Consumer Credit Corporation (CREDICORP) introduced SPARK to enable Nigerians to apply for consumer loans using basic mobile phones without requiring a smartphone or internet connection.
Source: Getty Images
The service is accessible by dialling *347*333# on any mobile phone.
However, Nigerians attempting to access the platform are receiving a message indicating that demand is exceptionally high.
The message reads:
"Welcome to spark Spark. Disbursement are ongoing, traffic is at all time high."
The notification indicates that credit disbursements are ongoing, although there was no independent confirmation of successful payments to borrowers.
What the SPARK USSD service offers
The USSD platform is designed to expand access to formal consumer credit among Nigerians who have historically faced barriers to conventional lending, particularly those without smartphones or reliable internet access.
It forms part of the Federal Government's broader efforts to expand consumer lending and promote responsible borrowing across the country.
CREDICORP has yet to release specific details on the loan amounts available through SPARK, applicable interest rates or repayment arrangements.
Nigerians are advised to review borrowing costs and repayment conditions carefully before accepting any credit offer through the platform.
Source: Twitter
CREDICORP's wider consumer-credit programme
The rollout of SPARK follows progress in CREDICORP's broader consumer lending activities.
The corporation disclosed in an X post that it had facilitated more than N61 billion in credit for 353,561 Nigerians across all 774 local government areas as of October 31, 2026.
Women accounted for 58.8% of beneficiaries, while young Nigerians represented close to half of those who accessed credit.
What Nigerians can use CREDICORP credit for
CREDICORP said its consumer credit programme supports purchases and expenses across several categories, including:
- Mobility: Vehicles and other transportation needs.
- Home improvement: Repairs, renovations and upgrades.
- Solar energy: Clean energy solutions.
- Digital devices: Smartphones, laptops and other technology products.
- Life essentials: Healthcare and education.
- Household needs: Everyday living essentials.
FG opens portal for Nigerians to apply for N1m
Earlier, Legit.ng reported that the federal government outlined the application process for Nigerians seeking affordable financing to purchase laptops, smartphones, tablets, and other digital devices under the Credit for Laptops, Internet, Connectivity, and Knowledge Digital Devices (C.L.I.C.K.D.) Programme.
Launched through the CREDICORP initiative, the Nigerian government aimed to improve access to digital devices by providing consumer credit to eligible Nigerians.
Applicants must complete an online registration form before the scheme can consider them.
Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
