July 3, 2025 – Vice President Kashim Shettima has officially inaugurated the Board of Directors of the National Credit Guarantee Company Limited (NCGC Ltd), urging them to expand financial inclusion and support small businesses across Nigeria.
The ceremony, held on Thursday at the Presidential Villa, highlights the federal government’s effort to boost access to finance for micro, small, and medium enterprises (MSMEs). These businesses often face difficulty getting affordable credit to grow or sustain operations.
“The establishment of NCGC represents the government’s commitment to bridging the financing gap that has long plagued MSMEs across the country,” Vice President Shettima stated during the event.
NCGC Ltd is a new financial institution set up to serve as a credit support system for MSMEs, aiming to reduce lending risks for banks and financial institutions. This move is expected to improve access to business loans, drive job creation, and promote inclusive economic development.
President Bola Ahmed Tinubu, who announced the company’s establishment on May 29, 2025, also appointed the board and executive management team. Former Speaker Rt. Hon. Yakubu Dogara was named Board Chairman, while Mr. Bonaventure Okhaimo was appointed Managing Director and CEO.
In other news, the FG has repositioned cassava as economic driver, according to VP Shettima.