Tinubu Reveals NCGC Facilitated N46.95 Billion in Loans
President Bola Tinubu disclosed that the National Credit Guarantee Company (NCGC) has successfully unlocked N46.95 billion in loans through N21.59 billion in guarantees provided to 19 financial institutions during its inaugural year of operations. This announcement was made via a series of posts on President Tinubu’s X account on September 28, 2026.
The guarantees issued by NCGC enable financial institutions to extend loans at a ratio of approximately N2.17 for every N1 guaranteed by the federal government. Tinubu explained that the NCGC was established to assist viable businesses facing challenges in securing loans due to insufficient collateral or lack of credit history.
The NCGC collaborates with 19 financial institutions, which include 13 commercial banks, three microfinance banks, and three development finance institutions.
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