By Festus Fifen

The National Credit Guarantee Company Limited (NCGC), set up under President Bola Ahmed Tinubu’s reform agenda, says its guarantees have supported ₦64.13 billion in loans to more than 174,000 small borrowers across all 36 states and the Federal Capital Territory.

Briefing State House correspondents in Abuja on Tuesday at the Aso Rock Presidential Villa Abuja, the company’s Managing Director/CEO, Dr. Bonaventure Okhaimo, said the Federal Government created NCGC on 29 May 2025 to help businesses and individuals get credit. The Central Bank of Nigeria licensed it on 9 August 2025.

According to Okhaimo , NCGC does not lend directly. When one of its 19 partner lenders, which include commercial banks, microfinance banks and development finance institutions, gives a loan to an eligible borrower, NCGC guarantees part of it and shares the loss if the borrower defaults.

Okhaimo said this lets lenders approve borrowers they would otherwise reject, often with less collateral and on better terms.

” The company has ₦100 billion in capital, held equally by the Bank of Industry, the Ministry of Finance Incorporated, the Nigeria Sovereign Investment Authority and the Nigerian Consumer Credit Corporation (CREDICORP)”

According to a report by October 2026, ₦30.19 billion in guarantees has supported ₦64.13 billion in loans, about ₦2.12 in lending for every ₦1 guaranteed. Of the 174,495 borrowers reached. Out of this number, 74,503 (42.7%) are women, 22,616 (12.96%) accessed formal finance for the first time, 7,731 were recorded under youth empowerment
The Report also stated that just over 80% are in trade and commerce or agribusiness and agro-processing

Partner lenders reported 175,481 direct jobs linked to these borrowers.
The report estimates another 739,310 indirect jobs, for a total of 914,791 jobs impacted.

Speaking on how the program has empowered women, Okhaimo said NCGC launched GuaranteeHer in July 2026, The scheme strengthens risk-sharing on women-focused programmes that banks already run, including Access Bank’s W Initiative, FirstBank’s FirstGem, FCMB’s SheVentures, Sterling’s Smart Women and Fidelity’s FundHer.

The aim is lower interest rates, less collateral and longer repayment periods.

Speaking further Okhaimo noted that NCGC has signed agreements with SMEDAN on financial literacy and capacity building, and with CREDICORP on risk-sharing for consumer credit.

” It also works with the Bank of Industry, NAICOM, NDIC, the Presidential CNG Initiative, NIRSAL (on agribusiness co-guarantees) and AGRA. The World Bank Group is providing technical assistance and first-loss capital. NCGC’s next “Credit Advantage Series” session, ”

Okhaimo said NCGC will extend credit to women, young people and small businesses, bring GuaranteeHer to full operation across its partner lenders, bring in more microfinance banks, strengthen its capital and digitise guarantee management.

He thanked President Tinubu “for his vision in establishing NCGC” and said the company’s goal is that no viable Nigerian business is denied credit simply because it lacks collateral.