NCGC backs N64bn in loans within one year of operation

… Created over 150,000 direct and indirect jobs

The National Credit Guarantee Company (NCGC) has supported ₦64.13 billion in loans, backed by ₦30.19 billion in guarantee value, granted to 174,495 beneficiaries within one year of its operation. Managing Director and Chief Executive Officer Bonaventure Okhaimo announced this while fielding questions from journalists at the State House in Abuja on Tuesday.

Providing a further breakdown, Okhaimo revealed that 74,503 beneficiaries—representing 42.7%—are women, while 22,616 accessed formal finance for the first time, and 7,731 were recorded under youth empowerment. Trade, commerce, agribusiness, and agro-processing account for just over 80% of total beneficiaries. Participating financial institutions (PFIs) reported 175,481 direct jobs associated with the borrowers, while the report estimates a further 739,310 indirect jobs, bringing total impacted jobs to 914,791.

Established on 29 May 2025 by President Bola Tinubu with a capital base of ₦100 billion, the NCGC facilitates access to finance for businesses and consumers to drive sustainable economic development in Nigeria. Okhaimo explained that the company provides partial guarantees to de-risk lending, expand credit supply, and catalyse economic growth, noting that the institution does not lend directly. The company guarantees loans of up to ₦50 million through its network of PFIs.

Expanding credit access through strategic partnerships

Through 19 PFIs comprising commercial banks, microfinance banks, and development finance institutions, the NCGC has reached end-borrowers across all 36 states and the Federal Capital Territory. On 29 July 2026, the company launched GuaranteeHer alongside Minister of Women Affairs and Social Development Hajiya Imaan Sulaiman-Ibrahim, which was ceremonially unveiled at its first anniversary stakeholders’ forum on September 3, 2026.

The GuaranteeHer framework is a blended-finance, gender-responsive credit guarantee system that designs enhanced risk-sharing overlays for women-focused bank programmes, such as the Access Bank W Initiative, FirstBank FirstGem, FCMB SheVentures, Sterling Smart Women, and Fidelity FundHer. Okhaimo explained that rather than creating a new product, the initiative strengthens existing programmes so lenders can offer lower interest rates, less collateral, and longer tenors.

Furthermore, the NCGC has signed memoranda of understanding with SMEDAN on financial literacy, credit guarantee support, and capacity building, as well as with CREDICORP on risk-sharing to expand consumer credit, alongside partnerships with the Bank of Industry. The institution also collaborates with NAICOM, NDIC, the Presidential Compressed Natural Gas Initiative (Pi-CNG and EV), NIRSAL, and AGRA.

Future outlook and strategic priorities

In the months ahead, the NCGC plans to deepen access to credit for women, young people, MSMEs, and productive sectors, bring GuaranteeHer to full operation across all PFIs, and onboard more partners, particularly microfinance banks. The company also aims to strengthen its capital base, digitise guarantee management, and refine outcome measurement frameworks.