NCGC unlocks N46.95 billion in loans across N21.59 billion guarantees, Tinubu says

They now have a credit file they can develop.

President Bola Tinubu has revealed that the Statewide Credit Guarantee Organization (NCGC), across 19 financial institutions, has helped unlock N46.95 billion in loans during its opening year of operations. Our students can support their education by method of NELFUND, whereas the Bank of Trade and Development Bank of Nigeria carry on to lend to businesses. That means every N1 in guarantees has helped unlock on N2.17 in credit,” he said.

The president noted that 67,512 borrowers across 25 states and the Federal Money Territory (FCT) have received credit backed by NCGC, including 11,374 women, whilst 33.5 per cent are initial-time official borrowers.

• “For further than 22,000 Nigerians, this is their opening entry into the official credit platform. We recognized NCGC to assist alter that. Each prosperous repayment strengthens that document and can create the subsequent loan easier to low-danger,” he added.

Tinubu links NCGC to credit economy

Tinubu said that although contesting for the presidency, he promised to advance Nigeria towards a credit-based economy and establish a loan guarantee scheme that would assist compact businesses overcome financial barriers.

He said the promise was aimed at creating practical admission to finance for workers and businesses, allowing individuals to see household needs over time although enabling compact businesses to put capital into against expected prospective revenue.

• “When I sought your mandate, I promised to shift Nigeria towards a credit-based economy and to establish a loan guarantee scheme that would support modest businesses overcome the barriers that preserve them from support.”
• “Across CREDICORP, current Nigerians can connection consumer credit. NCGC has issued N21.59 billion in guarantees. The Statewide Credit Guarantee Organization takes on one of the hardest barriers to firm credit.”

According to the president, NCGC estimates that businesses it has supported account for 661,291 steer and indirect jobs.

• “This is how we travel from reforms to opportunities. The disclosure was contained in a run of posts on President Tinubu’s X (previously Twitter) account on Monday, September 28, 2026, where he stated that NCGC issued N21.59 billion in guarantees to participating financial institutions. It carries portion of the lending uncertainty together with participating financial institutions, giving them larger confidence to lend to businesses and borrowers they might otherwise turn away.”

According to Tinubu, the NCGC works using 19 financial institutions, comprising 13 commercial banks, three microfinance banks and three development fund institutions.

• “One year into operations, we can see what that model is doing. Tens of thousands who stood on the exterior structured credit a year ago are now within, borrowing to develop,” he added.

NCGC expands consumer credit alliance

In July this year, the Nigerian Consumer Credit Corporation (CREDICORP) and the Nationwide Credit Guarantee Organization Restricted (NCGCL) signed a Memorandum of Understanding (MoU) to establish a hazard-sharing association aimed at expanding connection to consumer credit for certified Nigerians.

The agreement was designed to lessen lending risks for financial institutions by providing unfinished credit guarantees and unlocking extra wholesale funding for consumer lending throughout CREDICORP’s network of Participating Financial Institutions (PFIs).

Under the alliance, the Statewide Credit Guarantee Organization was expected to provide fragmentary credit guarantee attain for lending and advances made across CREDICORP’s Participating Financial Institutions.

On the strength of those guarantees, participating lenders have prolonged N46.95 billion in loans. Our reforms laid the groundwork. Credit gives Nigerians the means to construct on it. Lenders see too much hazard in a sound organization when the owner has little collateral or no credit document. Tinubu said this means the financial institutions have longer around N2.17 in loans for every N1 in guarantees provided by the Federal Government.

The president said the initiative was settled to address difficulties faced by workable businesses seeking loans together with little collateral or no credit background.

NCGC unlocks N46.95 billion credit

Tinubu said the NCGC carries component of the lending exposure using participating financial institutions, giving them increased confidence to lend to businesses and borrowers they might otherwise turn away.

• “Countless possible businesses still encounter the same obstacle at the bank.

Source: NCGC unlocks N46.95 billion in loans through N21.59 billion guarantees, Tinubu says