- New coy gets N100 billion initial capital
President Bola Ahmed Tinubu has established a National Crdit Guarantee Company and appointed former Speaker of the House of Representatives, Hon Yakubu Dogara as the Board Chairman.
The new institution, backed by an initial capital of N100 billion, is designed to de-risk lending and expand access to finance for Micro, Small and Medium Enterprises (MSMEs), small corporates, manufacturers, consumers, and large businesses across Nigeria.
Tinubu also appointed Mr. Bonaventure Okhaimo who will serve as the Managing Director and Chief Executive Officer.
Other key appointments include Mrs. Tinoula Aigwedo as Executive Director of Strategy and Operations; Dr. Ezekiel Oseni as Executive Director, Risk Management; and Ms. Yeside Kazeem, an experienced actuarial expert, as an Independent Non-Executive Director.
The establishment of the NCGC represents a continuation of the present administration’s efforts in the provision of credit guarantees for the nation’s citizens.
By partnering with government and private sector entities, the NCGC aims to create a more inclusive financial ecosystem to drive economic growth and improve living standards.