Abuja, May 29, 2029 – The federal government has established a National Credit Guarantee Company Limited (NCGC).
This was announced in a statement by the presidency on Thursday.
The statement said President Bola Tinubu has also approved the appointment of the company’s board and management team.
Yakubu Dogara, a former Speaker of the House of Representatives, has been appointed as Chairman of the company’s board, while Bonaventure Okhaimo will serve as the Managing Director and Chief Executive Officer.
Tinubu also appointed Tinoula Aigwedo as Executive Director of Strategy and Operations while Ezekiel Oseni will serve as Executive Director, Risk Management.
Yeside Kazeem, an Actuarial expert, has also been appointed an Independent Non-Executive Director.
The statement said the company had been supported by an initial fund of N100 billion.
The company is to mitigate the risks associated with lending and increase financial access for Micro, Small and Medium Enterprises, MSMEs, small businesses, manufacturers, consumers, and larger companies throughout Nigeria.
