The National Credit Guarantee Company (NCGC) says it has facilitated ₦64.13 billion in loans to businesses and individuals, helping more Nigerians access credit despite limited collateral.
The company’s Managing Director, Bonaventure Okhaimo, disclosed this during a briefing at the Presidential Villa in Abuja, noting that the loans were supported by ₦30.19 billion in credit guarantees as of October 21, 2026.
The NCGC does not lend directly to businesses. Instead, it shares part of the lending risk with financial institutions, encouraging them to provide loans to viable businesses that might otherwise struggle to secure financing.
The initiative has reached 174,495 beneficiaries through 19 financial institutions, with women accounting for 42.7 per cent of recipients.
The company also reported that 22,616 Nigerians accessed formal credit for the first time.
The NCGC said it would continue expanding access to finance, particularly for small businesses and entrepreneurs who face difficulties meeting conventional collateral requirements.
