NCGC-backed loans reach N46.95bn in first year – Tinubu
The NCGC began operations in July 2025 as a Federal Government-backed credit guarantee institution designed to reduce the risk faced by lenders and expand access to finance for eligible businesses, particularly micro, small and medium enterprises (MSMEs).
This means that more than 22,000 borrowers entered the formal credit system for the first time through loans backed by the NCGC, according to the President.
Why the guarantee matters President Tinubu said many viable businesses struggle to obtain bank loans because their owners lack sufficient collateral or a formal credit history.
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