(Continuation) Under the proposed system, all financial institutions—including commercial banks, fintechs, and microfinance outfits—will be mandated to report loan performance, ensuring loan defaults are recorded and traceable. Nwagba emphasised that the policy is not punitive but aims to encourage responsible borrowing and reduce financial desperation. He said credit scores will be built using both financial and non-financial data, forming part of President Tinubu’s push to improve living standards and drive local economic growth. As part of this effort, CREDICORP will soon launch YouthCred, a nationwide consumer credit programme targeting 400,000 Nigerians, starting with NYSC members. The programme will later expand to include all youth aged 18 to 35. “YouthCred is not just a product. It’s a generational investment in financial confidence, trust, and economic inclusion,” added Olanike Kolawole, CREDICORP’s Executive Director of Operations. The agency estimates Nigeria needs ₦183 trillion in credit to meet national development goals and calls for full participation from financial institutions to sustain a strong credit culture.