By Chesa Chesa
The National Credit Guarantee Company Limited (NCGC) has supported ₦64.13 billion in loans to 174,495 borrowers across Nigeria, with women accounting for 42.7 per cent of beneficiaries.
The Managing Director and Chief Executive Officer of NCGC, Dr Bonaventure Okhaimo, disclosed this on Tuesday during a press briefing at the State House, Abuja.
Established May 29, 2025 by President Bola Tinubu, the NCGC is licensed and regulated by the Central Bank of Nigeria and supervised by the Federal Ministry of Finance.
The company has a capital base of ₦100 billion, with equal 25 per cent stakes held by the Bank of Industry, Ministry of Finance Incorporated, Nigeria Sovereign Investment Authority and Nigerian Consumer Credit Corporation.
Okhaimo explained that the loans were backed by ₦30.19 billion in guarantees as of October 21, 2026, representing approximately ₦2.12 in loans for every ₦1 in guarantee value.
He said the company had reached borrowers in all 36 states and the Federal Capital Territory through 19 participating financial institutions, comprising commercial banks, microfinance banks and development finance institutions.
According to him, 74,503 beneficiaries were women, while 22,616 borrowers accessed formal financing for the first time. Another 7,731 beneficiaries were recorded under youth empowerment.
He stated that trade and commerce, alongside agribusiness and agro-processing, accounted for more than 80 per cent of the beneficiaries.
The NCGC boss said participating financial institutions reported 175,481 direct jobs associated with the supported borrowers, while the company’s estimates put indirect jobs at 739,310, bringing total jobs impacted to 914,791.
Okhaimo explained that the company does not lend directly but provides partial guarantees to financial institutions, enabling them to extend credit to eligible borrowers who might otherwise be denied loans because of insufficient collateral.
He said the arrangement reduces lending risks and could enable borrowers to access financing on better terms.
On efforts to improve women’s access to credit, Okhaimo highlighted GuaranteeHer, the company’s gender-responsive credit guarantee initiative launched on July 29, 2026.
He said the programme was designed to strengthen existing women-focused lending schemes operated by participating financial institutions rather than introduce another standalone product.
Such schemes include Access Bank’s W Initiative, FirstBank’s FirstGem, FCMB’s SheVentures, Sterling’s Smart Women and Fidelity Bank’s FundHer.
Looking ahead, Okhaimo said NCGC would expand access to credit for women, young people, MSMEs and productive sectors, while bringing GuaranteeHer into full operation across its participating financial institutions.
