The Federal Government has introduced a pension-backed loan scheme through the Nigerian Consumer Credit Corporation, targeting retirees across the country. The initiative, launched on Thursday, is part of efforts to strengthen Nigeria’s consumer credit system and improve the financial well-being of senior citizens.
According to officials, the loan will allow retirees to access affordable credit facilities using their pensions as security, helping them meet urgent needs and enhance their quality of life. The government noted that the scheme reflects its commitment to inclusive financial growth and sustainable retirement support.