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In an effort to increase access to finance for micro, small and medium companies (MSM), the President of the Tinubu Bola has established the National Credit Guarantee Company (NCGC) with the initial capital of the N100 billion.
The President also appointed a former speaker of the House of Representatives, Jacobu Dogara as the newly established company chairman and with Bonaventure Okhaimo as the Director of the Chief Executive Officer.
Other appointed people are:
· Tinoula Aigwedo – Executive, Strategy and Operation Director
· Yehezkiel Osian – Executive Director, Risk Management
· Yeside Kazeem-DiruRtur Non-Executive Independent.
Special advisors about information and strategies, Bayo Onanuga, announced development in a statement on Thursday in Abuja.
He noted that the company is a transformative institution designed to eliminate loan risk and increase access to finances for micro, small and medium enterprises (MSMEs).
Also read: For Note: What Tinubu said to the Nigerians to mark 2 years of his government (full text)
NCGC is also expected to serve small companies, producers, consumers, and large companies in Nigeria.
The statement reads: “This Tengara step is in accordance with the new year 2025 that promises to unlock credit and trigger sustainable economic growth for all.
“The President highlights that this initiative will strengthen trust in the financial system, expand credit access, and support less served groups such as women and youth, while encouraging growth, reindustrialization, job creation and better living standards for Nigerians.”
The promise will be valid.
By: Babajide Okeowo
