President Bola Tinubu has announced the formal establishment of the National Credit Guarantee Company Limited (NCGC) — a major financial reform aimed at enhancing access to credit and driving inclusive economic growth across Nigeria.
According to a statement released by the presidency on Thursday, the federal government has committed N100 billion in initial funding to support the company’s mission of reducing lending risks and improving financial inclusion, especially for Micro, Small, and Medium Enterprises (MSMEs) and manufacturers.
Key appointments to the NCGC board include:
-
Yakubu Dogara, former Speaker of the House of Representatives – Chairman
-
Bonaventure Okhaimo – Managing Director and Chief Executive Officer
-
Mrs. Tinoula Aigwedo – Executive Director, Strategy and Operations
-
Dr. Ezekiel Oseni – Executive Director, Risk Management
-
Yeside Kazeem, a seasoned actuarial expert – Independent Non-Executive Director
The presidency emphasized that the NCGC will play a pivotal role in issuing credit guarantees to lenders, enabling increased financing for critical sectors of the economy. This initiative is expected to stimulate job creation, empower local businesses, and support Nigeria’s broader economic development goals.
With the NCGC now operational, stakeholders anticipate a significant boost in private sector confidence and lending capacity across the country.
