NewStats: 3,262,271 , 8,176,690 topics. Date: Sunday, 01 June 2025 at 05:05 PM 6x2t2c

Tinubu establishes Credit Guarantee Company with N100 billion initial capital, appoints board

President Bola Ahmed Tinubu has established the National Credit Guarantee Company Limited (NCGC) and approved the appointment of its board and management team.

The disclosure was contained in a statement released by the Presidency on Thursday.

As part of the rollout, Tinubu appointed former Speaker of the House of Representatives, Rt. Hon. Yakubu Dogara, as Chairman of the NCGC Board, while Mr. Bonaventure Okhaimo will serve as the Managing Director and Chief Executive Officer.

The new institution, backed by an initial capital of N100 billion, is designed to de-risk lending and expand access to finance for Micro, Small and Medium Enterprises (MSMEs), small corporates, manufacturers, consumers, and large businesses across Nigeria.

“President Bola Ahmed Tinubu has approved the establishment of the National Credit Guarantee Company Limited (NCGC), a transformative institution designed to de-risk lending and boost access to finance for Micro, Small and Medium Enterprises (MSMEs), Small Corporates, Manufacturers, Consumers and Large Enterprises across Nigeria,” the statement read in part.

It added, “President Tinubu has further approved the constitution of the Board and Management of NCGC with the appointment of Rt. Hon. Yakubu Dogara as Chairman of the Board and Mr. Bonaventure Okhaimo as the Managing Director/Chief Executive Officer.”

The statement noted that the move aligns with the President’s 2025 New Year message, where he promised to unlock credit access and stimulate inclusive economic growth.

Other key appointments include Mrs. Tinoula Aigwedo as Executive Director of Strategy and Operations; Dr. Ezekiel Oseni as Executive Director, Risk Management; and Ms. Yeside Kazeem, an experienced actuarial expert, as an Independent Non-Executive Director.

https://nairametrics.com/2025/05/29/tinubu-establishes-credit-guarantee-company-with-n100-billion-initial-capital-appoints-board/

Campaign promise made
Campaign promise kept

Let see how it will work

aLOOTa continua


Tinubu is the man for the job

Poor man pikin go think say na for urgent 2k and to borrow MB.

How is this different from the Bank of Industry? Why do these people like duplicating functions?

This is to serve as backbone to lenders, so they won't be too scared to take a chance on Nigerians, especially the youths, and trust us once in a while. I hope this is what this is all about. Someone has to start trusting Nigerians, and no better person than our own Government

How to apply ??

SmartPolician:
How is this different from the Bank of Industry?

These stand like guarantors for MSMe borrowers.

Has this sort of arrangement ever worked or just a way of settling loyalist? What direct initiative of Tinubu is affecting the masses for good?

Bank of Industries supposed to lend to the Small and medium businesses. Don't set up agencies

SmartPolician:
How is this different from the Bank of Industry? Why do these people like duplicating functions?

This entity will reduce the risk banks face when lending to the public by guaranteeing repayment of a portion of the loan in the event of default. The primary objective is to motivate financial institutions to extend more credit to individuals & corporates in the economy. A step in the right direction I must say coupled with soon coming open banking policy I think we are in for better times in of access to credit.

opalu:
Bank of Industries supposed to lend to the Small and medium businesses. Don't set up agencies

Must it only be the BOI that lends to businesses?
Don't you see that this one enables private capital to flow into business with this agency guaranteeing this businesses?

Don't criticise what you don't understand.

Mtcheeeew

lionshare:
This entity will reduce the risk banks face when lending to the public by guaranteeing repayment of a portion of the loan in the event of default. The primary objective is to motivate financial institutions to extend more credit to individuals & corporates in the economy. A step in the right direction I must say coupled with soon coming open banking policy I think we are in for better times in of access to credit.

Appletek:


Must it only be the BOI that lends to businesses?
Don't you see that this one enables private capital to flow into business with this agency guaranteeing this businesses?

Don't criticise what you don't understand.

Couldn't they have just implemented the same policy under the BOI to carry out the same function?

So because a house does not have AC, you decide to go an build a new one because of AC you can buy and put in the house, look at the way you people reason defending nonsense because of Tinubu...
'

opalu:
Bank of Industries supposed to lend to the Small and medium businesses. Don't set up agencies

U have not gone there.. if u go there, they dnt lend to anyone aside big people... Poor man's hope has always been micro finance

All these schemes na packaged fraud.

If a government is doing well, it's the positive effect on the people that will spread the good news

Centrik360:
All these schemes na packaged fraud.

If a government is doing well, it's the positive effect on the people that will spread the good news

Na true o, education no end for ability to reading and writing

The criminals padded the national budget with over 6 trillion naira to subsidize their lavish lifestyle and wants to distribute a meagre 100 billion naira to stupid Nigerians as crumbs, disguised as credit guarantee.
Tinubu will not make heaven.

ryloy:


https://nairametrics.com/2025/05/29/tinubu-establishes-credit-guarantee-company-with-n100-billion-initial-capital-appoints-board/

Una get everybody NIN why no do the right thing. Thieves. Useless country with foolish leaders. Even man no see food. We all know it’s all for them. Bastards

ryloy:
Campaign promise made
Campaign promise kept

Close your gutter

Political allies are manning an establishment of this caliber,nothing is left for imagination what will become of it.

When the govt is supposed to be cutting down cost of governance by initiating a hiring freeze— this man in cahoots with NASS—is creating new agencies every Friday, so as to pack in the children of big men and pay them bogus salaries while doing nothing.

Centrik360:
All these schemes na packaged fraud.

If a government is doing well, it's the positive effect on the people that will spread the good news

Your opinion ends here.

Always quick to say trash about what they don't understand.

Brendaniel:

Couldn't they have just implemented the same policy under the BOI to carry out the same function?

So because a house does not have AC, you decide to go an build a new one because of AC you can buy and put in the house, look at the way you people reason defending nonsense because of Tinubu...
'

You are concerned but your concern stems from lack of knowledge rather than a genuine desire to prevent duplication of official functions.

BOI doesn't cover many sectors outside manufacturing. It doesn't cover retail, professional services, etc. It doesn't cover real estate.

Also, BOI is Government-funded.

What this new body does is to provide a guarantee for Businesses seeking to raise private capital. It also needs expands on sectors that are serviced.

samuelson06:
Has this sort of arrangement ever worked or just a way of settling loyalist? What direct initiative of Tinubu is affecting the masses for good?

it works and some of it are working just that we have had a rough journey so bad that we hardly believe in things like this but the shortest way to breakout of the "Thomas group", regardless of what one has been through is to focus more on knowing how it works rather than being negatively judgemental even before the programme is fully initiated. Take for example, people benefited from COVID-19 loan, I was surprised that someone was talking about the recovery process carried out on his recently and I was like oh, you guys actually received this money, also people are building houses using the national housing loan provided by the government at a very low rate with long repayment period but unfortunately, many Nigerians don't know what the requirements are not to talk of believing it's real.

Rt. Hon. Yakubu Dogara who never campaigned or voted for Tinubu in 2023 in the name of Muslim/Muslim ticket has been appointed to head a new agency with a 100 b
Billion Naira take off capital.

Stay online and insult those who are not ing who you are ing, overtaking is easy in politics.

Congratulations to Dogara!

Too many invisible implementation without benefits to Nigeria citizens.