Eligibility Criteria for Participating Financial Institutions (PFIs)

To access partial credit guarantees from the National Credit Guarantee Company (NCGC), financial institutions must meet the following minimum eligibility requirements:

Regulatory Compliance

• Hold a valid license from the Central Bank of Nigeria (CBN) as a bank or finance company
• Demonstrate full compliance with all applicable laws, CBN regulations, and consumer protection directives
• Maintain adherence to Know Your Customer (KYC), Anti-Money Laundering (AML), and Counter Financing of Terrorism (CFT) standards

Operational Track Record

• The PFI must not be under the acquisition of CBN/NDIC
• Maintain acceptable portfolio quality and performance, with effective risk management frameworks in place.
• Demonstrate a clear commitment to lending to MSMEs, large corporates and/or credit consumers with tailored credit approval and risk management procedures

Governance & Management

• Shareholders and Board of Directors must be fit and proper persons with proven integrity and relevant expertise
• Possess qualified management and institutional capacity appropriate for the institution’s risk profile.
• Operate with robust internal controls, audit processes, and sound management information systems