The Federal Government has unveiled a new initiative aimed at helping Nigerians access consumer loans without necessarily having internet access, a smartphone or mobile banking applications.
The initiative, known as SPARK, is designed to extend credit opportunities to millions of Nigerians, particularly low-income earners, petty traders, market women, young people and individuals who have struggled to obtain loans through conventional financial institutions.
The programme is being driven by the Nigerian Consumer Credit Corporation (CREDICORP), which is working to expand access to affordable consumer credit and promote financial inclusion across the country.
How to access the loan without internet
According to a report by Vanguard published on November 1, 2026, Nigerians can reportedly access the SPARK service through the following USSD code:
*347*333#
Interested applicants can dial the code on their mobile phones and follow the instructions provided.
The proposed USSD system is particularly important because it is designed to work on basic mobile phones without requiring internet connectivity or mobile data.
However, applicants should note that the reported code and its availability should be confirmed through CREDICORP’s official channels before providing personal information. Dialling the code does not automatically guarantee loan approval.
Who can benefit from the initiative?
The programme is expected to target Nigerians who face difficulties accessing formal loans, including:
- Low-income earners.
- Petty traders and small business operators.
- Market women.
- Young Nigerians and first-time borrowers.
- Informal-sector workers.
- Individuals without established credit histories.
Why FG introduced the new loan initiative
For many Nigerians, accessing bank loans remains difficult because of collateral requirements, credit-history limitations and other banking conditions.
The SPARK initiative seeks to address some of these challenges by creating a more accessible route to consumer credit.
Through the programme, the government also hopes to encourage responsible borrowing and repayment, allowing beneficiaries to establish formal credit histories that could improve their chances of accessing future loans.
CREDICORP reveals impressive credit figures
CREDICORP has reported facilitating approximately ₦53.5 billion in consumer credit, reaching more than 351,000 Nigerians, with women accounting for about 59 per cent of beneficiaries.
The new initiative is expected to support the government’s broader objective of making consumer credit more accessible to Nigerians who are traditionally underserved by financial institutions.
Important things applicants should know
Before accepting any loan, Nigerians are advised to:
- Confirm the authenticity of the application channel.
- Check the applicable interest rate.
- Understand the repayment period.
- Ask about additional charges and penalties.
- Avoid paying unofficial agents for loan approval.
For official information, visit: https://www.credicorp.ng/