About 150 banks have expressed interest in participating in the lending ecosystem for the newly launched Consumer Credit Scheme.

This was disclosed by the Special Assistant to President Bola Tinubu on social media, Dada Olusegun, on Thursday via his X (formerly Twitter) handle.

Tinubu announced the launching of the first phase of the Consumer Credit Scheme on April 21, a programme designed to offer credit facilities to working citizens in the country.

Providing an update on the scheme, the presidential aide said that both commercial and microfinance banks had indicated interest in participating in the scheme even as over 40,000 civil servants were set to receive the first tranche of payment.

Olusegun said, “About 150 banks, both money deposit and microfinance institutions, have expressed interest to be part of the lending ecosystem that is being created by CrediCorp to essentially undergird a national consumer credit system.