President Bola Ahmed Tinubu has approved the establishment of the National Credit Guarantee Company (NCGC), a landmark financial institution designed to unlock credit access for Nigerians and businesses.
The NCGC will commence full operations in July 2025 with an initial capital of ₦100 billion, funded by government-backed institutions including the Ministry of Finance Incorporated (MOFI), Nigeria Sovereign Investment Authority (NSIA), Bank of Industry (BoI), and the Nigeria Consumer Credit Corporation (CREDICORP).
Leadership Appointments
Yakubu Dogara, former Speaker of the House of Representatives – Chairman of the Board
Bonaventure Okhaimo – Chief Executive Officer (CEO)
Tinoula Aigwedo – Executive Director, Strategy & Operations
Ezekiel Oseni – Executive Director, Risk Management
The Board will also include representatives of key shareholder institutions:
Oluwakemi Owonubi – representing MOFI
Aminu Umar – Managing Director, NSIA
Olasupo Olusi – Managing Director, BoI
Uzoma Nwagba – Managing Director, CREDICORP
In addition, Yeside Kazeem, an actuarial expert, will serve as an Independent Non-Executive Director.
Driving Growth and Financial Inclusion
The establishment of NCGC is aligned with President Tinubu’s vision to:
Strengthen confidence in Nigeria’s financial system
Expand credit access for individuals and businesses
Support underserved groups such as women and youth
Drive industrial growth, job creation, and improved living standards
The World Bank Group is also providing technical assistance to NCGC, ensuring global best practices in implementation and governance.
This initiative delivers on President Tinubu’s commitment to launch a national credit guarantee mechanism before the end of the second quarter of 2025, marking a major milestone in Nigeria’s ongoing financial sector reforms.