The newly established National Credit Guarantee Company (NCGC) has officially commenced operations, marking a significant milestone in the federal government’s commitment to economic transformation under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
In a statement issued by the Managing Director and Chief Executive Officer of NCGC, Bonaventure Okhaimo, the company pledged to revolutionize access to credit for Nigerian businesses, with a primary focus on empowering Micro, Small, and Medium Enterprises (MSMEs).
“It is with immense pleasure and great optimism that I announce the official commencement of operations of the National Credit Guarantee Company (NCGC), fulfilling President Bola Ahmed Tinubu’s promise to unlock economic potential,” Okhaimo stated.
He noted that the launch of NCGC is aimed at catalyzing productivity, creating jobs, and boosting broad-based economic growth across Nigeria.
As part of its strategic plan, the company will collaborate closely with regulators, financial institutions, private sector organizations, and other key stakeholders to align its operations with international standards and best practices.
“As we embark on this journey, we will engage in robust consultations to ensure our policies and processes meet global standards and exceed expectations,” Okhaimo added.
NCGC also emphasized its readiness to foster partnerships both domestically and internationally, promising transparency and dedication in executing its mandate.
“We seek the collaboration and support of our customers, domestic and foreign partners. We are committed to transparently and diligently implementing our mandate,” the MD/CEO assured.
The launch of the NCGC signals a new chapter in Nigeria’s economic development drive, offering a reliable credit guarantee framework aimed at reducing lending risks and improving financial inclusion for small and growing businesses.