President Bola Tinubu has approved the appointment of 36 -year Uzoma Nwagba as the Managing Director/Chief Executive Officer (MD/CEO) of the Nigerian Consumer Credit Corporation (CrediCorp).
Nwagba’s appointment was contained in a press statement issued on Friday by the Special Adviser, Media and Publicity to the president, Ajuri Ngelale.
The statement stated that Nwagba’s appointment was “in keeping with [President Tinubu’s] dedicated efforts to ensure financial inclusion and economic prosperity for the majority of Nigerians.”
According to Ngelale, Nwagba, an engineer, holds a Master’s of Business Administration from the Harvard Business School and a first-class Bachelor’s of Engineering from Howard University, Washington DC.
Prior to his appointment, Engineer Nwagba served as Chief Operating Officer of the Bank of Industry, in charge of driving micro-credit and other financial interventions at the institution.
He had also served as Senior Investment Associate, specializing in financial services (banking, insurance, pensions) at the African Capital Alliance.
Engineer Nwagba was a Software Engineer at Microsoft, where he led multiple teams charged with building enterprise and mobile software for emerging markets (Brazil, Russia, India, China, South Africa, and Nigeria), before his transition to finance.
CreditCorp was established by the federal government to accelerate consumer credit access to 50% of working Nigerians by 2030 rediCorp will achieve this mission by fixing the structural barriers to accessing consumer credit in Nigeria and catalysing the market with capital, guarantees, and policy.
The corporation started with an initial ₦100 billion consumer credit fund and works closely with the Central Bank of Nigeria (CBN), the financial sector, identity management, credit registries, fintechs, consumer protection, and policymakers to ensure that genuine Nigerian entrepreneurs benefit from the facility in order to boost the growth of the economy.
The CrediCorp’s business is focused on unifying, standardising and democratising credit registry and credit scores in Nigeria, with NIN as the singular identifier.
The corporation is also positioned to provide credit guarantees to financial institutions to accelerate people-centred credit products and incentivise the purchase of locally manufactured goods and services.
Uzoma Omenihu Nwagba a native of Abia State was born in the commercial city of Aba, Abia State.
He attended Kings College, Lagos from where he proceeded to the Howard University, USA where he earned a First Class degree in Engineering.
He earned his Masters degree from Harvard Business School, Boston, Massachusetts.