NCGC unlocks ₦64.13bn in loans and vows to remove collateral barriers for viable businesses

The National Credit Guarantee Company Limited (NCGC) said it has helped unlock ₦64.13 billion in loans for 174,495 borrowers across Nigeria, using ₦30.19 billion in guarantees as of October 21, 2026. In its first 14 months, the company estimates it has supported 914,791 direct and indirect jobs; women make up 42.7% of beneficiaries, and 22,616 people have accessed formal bank credit for the first time. Managing Director Bonaventure Okhaimo said the NCGC guarantees up to 60% of eligible loan risk through 19 financial institutions, easing collateral requirements while leaving lenders responsible for assessing and managing loans.