The Federal Government has inaugurated the Board of Directors for the National Credit Guarantee Company Limited (NCGC Ltd), a major milestone in President Bola Ahmed Tinubu’s agenda to unlock access to finance for micro, small, and medium-sized enterprises across Nigeria.
The inauguration, held at the Presidential Villa in Abuja and presided over by Vice President Kashim Shettima, marks the operational take-off of a key component of the Renewed Hope Agenda. The NCGC is designed to address the long-standing credit access barrier for productive Nigerians, especially those without traditional collateral.
President Tinubu had earlier approved the establishment of the credit company on May 29, 2025, and ratified the appointment of its board. The board is chaired by former Speaker of the House of Representatives, Yakubu Dogara, with Bonaventure Okhaimo as the Managing Director and Chief Executive Officer.
Speaking at the event, Vice President Shettima described the NCGC as a transformative engine for economic inclusion, growth, and job creation. He emphasized that millions of hardworking Nigerians from smallholder farmers and artisans to innovators and small businesses would now be able to access loans with ease, backed by the company’s guarantees.
He noted that the launch is not just a formality but a strategic intervention in closing Nigeria’s financing gap and building a more resilient economy. According to the Vice President, the company will serve as a catalyst for financial institutions to lend more confidently to sectors previously considered too risky.
The NCGC board includes representatives from major economic institutions such as the Nigeria Sovereign Investment Authority, Bank of Industry, Ministry of Finance Incorporated, and the Nigerian Consumer Credit Corporation. Their combined expertise is expected to ensure governance, accountability, and impactful execution.
This development is part of a broader initiative under President Tinubu’s administration to expand consumer credit, strengthen financial inclusion, and deepen private sector participation. It aligns with other policy tools being implemented to rebuild the economy and uplift the lives of everyday Nigerians.
The establishment and inauguration of the NCGC Board reflect the Tinubu administration’s practical commitment to empowering Nigerian enterprises and building an economy where no one is left behind.
