Ismail Abdulazeez Mantu
President Bola Ahmed Tinubu has officially launched the National Credit Guarantee Company Limited (NCGC), backed by a substantial N100 billion fund. The initiative is aimed at bridging the financing gap for Micro, Small and Medium Enterprises (MSMEs), manufacturers, and consumers across the country.
To lead the new financial vehicle, the President has approved the appointment of Rt. Hon. Yakubu Dogara, former Speaker of the House of Representatives, as Chairman of the NCGC Board. Mr. Bonaventure Okhaimo will serve as the Managing Director and Chief Executive Officer (CEO) of the Company.
Other key appointments to the leadership team include:
Mrs. Tinoula Aigwedo, appointed as Executive Director of Strategy and Operations;
Dr. Ezekiel Oseni, to serve as Executive Director, Risk Management; and
Ms. Yeside Kazeem, a seasoned actuarial expert, as an Independent Non-Executive Director.
The National Credit Guarantee Company is designed to provide financial institutions with risk-mitigation mechanisms, making it easier for them to lend to underserved sectors. This includes MSMEs, which remain the backbone of Nigeria’s economy but often face stiff barriers to accessing credit.
Speaking on the significance of the initiative, a senior government official noted that the NCGC “marks a turning point in the Tinubu administration’s efforts to boost economic inclusion, spur industrial growth, and tackle unemployment through strategic credit empowerment.”
Analysts see the NCGC as a critical policy intervention that could unlock trillions of naira in private sector lending, provided it is managed transparently and efficiently.
President Tinubu emphasized that the appointments reflect a blend of political experience, financial expertise, and strategic leadership to ensure the success of the NCGC.
The launch of the credit company comes at a time when the government is under pressure to deliver meaningful economic reforms amidst high inflation and public concerns over subsidy removal.
The NCGC is expected to begin operations immediately, with targeted outreach to financial institutions and small business owners nationwide.