In a bid to boost access to credit and financing facilities for Micro, Small and Medium Enterprises (MSMEs), President Bola Ahmed Tinubu has approved the establishment of the National Credit Guarantee Company (NCGC) to de-risk lending to MSMEs, small corporates, manufacturers, and large enterprises across Nigeria.
The president further approved the constitution of the board and management of the NCGC with Rt. Hon. Yakubu Dogara acting as the chairman and Mr. Bonaventure Okhaimo as the MD/CEO.
Other members of the board includes: Mrs. Tinuola Aigwedo (Executive Director, Strategy and operations), Dr. Ezekiel Oseni (Excutive Director,Rism management) and Mrs. Yeside Kazeem (Independent Executive Director).
NCGC’s major stakeholders like the Nigerian Sovereign Investment Authority, Bank of Industry, Nigerian Consumer Credit Corporation and The Ministry of Finance are also well represented on the board.
The NCGC is set to commence operations in July, 2025 having received an initial capital of N100billion from a consortiom comprising of the Ministry of Finance Incorporated (MoFI), Nigerian Sovereign Investment Authority (NSIA), Bank of Industry (BOI) and the Nigerian Consumer Credit Corporation (CrediCorp) with further assistance from the World Bank.
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