The Federal Government has inaugurated the board of directors of the National Credit Guarantee Company Limited (NCGC Ltd. ), a strategic institution designed to enhance access to affordable financing for micro, small, and medium enterprises (MSMEs) across the country.
The inauguration ceremony was held at the Presidential Villa, Abuja, on Thursday.
According to a statement by Stanley Nkwocha, Senior Special Assistant to the Vice President on Media and Communications, Vice President Kashim Shettima presided over the event, describing the NCGC as “a critical engine in our pursuit of economic inclusion and sustainable growth”.
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Shettima noted that the establishment of the NCGC reflects the Federal Government’s determination to bridge the longstanding financing gap faced by small businesses.
He said, “These entrepreneurs do not ask for handouts; they ask for the credibility of their ideas to be matched by the confidence of our financial institutions”.
The NCGC, which was set up by President Bola Tinubu on May 29, 2025, with an initial capital of ₦100 billion, is expected to serve as a vital link between MSMEs and financial institutions by providing credit guarantees to underfunded entrepreneurs nationwide.
The Vice President described NCGC as “a critical engine” in the drive toward economic inclusion, noting that it will act as a bridge between financial institutions and business owners in sectors ranging from agriculture to technology.
President Tinubu also approved the constitution of the company’s board, appointing former Speaker of the House of Representatives, Yakubu Dogara, as chairman.
Source: Channels TV
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