NCGC Facilitates N64.13bn Loans, Supports 914,791 Jobs

The National Credit Guarantee Company (NCGC) has reported that it has facilitated N64.13 billion in loans to Nigerian businesses and individuals, supporting around 914,791 direct and indirect jobs within its first 14 months of operation. Dr Bonaventure Okhaimo, the CEO of NCGC, shared this information during a media parley at the State House in Abuja on October 27, 2026.

He noted that 22,616 Nigerians, who previously lacked access to formal bank credit, have secured loans through NCGC's intervention, with women representing 42.7 percent of the beneficiaries. NCGC has deployed N30.19 billion in credit guarantees to unlock these loans.

The initiative aims to assist viable businesses that are often denied credit due to insufficient collateral. Okhaimo explained that NCGC does not lend directly but provides guarantees to encourage financial institutions to extend credit.

The company currently assumes up to 60 percent of the credit risk on eligible loans, allowing lenders to relax collateral requirements.