NCGC unlocks N46.95 billion in loans through N21.59 billion guarantees, Tinubu says
President Bola Tinubu has revealed that the National Credit Guarantee Company (NCGC), through 19 financial institutions, has helped unlock N46.95 billion in loans during its first year of operations. The post NCGC unlocks N46.95 billion in loans through N21.59 billion guarantees, Tinubu says appeared first on Nairametrics .
President Bola Tinubu announced that the National Credit Guarantee Company (NCGC), in partnership with 19 financial institutions, has facilitated the unlocking of N46.95 billion in loans during its inaugural year of operation. President Tinubu disclosed this information on his X (formerly Twitter) account on September 28, 2026. According to Tinubu, NCGC issued N21.59 billion in guarantees to these partnering financial institutions.
This means that the financial institutions will extend loans of approximately N2.17 for every N1 in guarantees provided by the federal government. Tinubu explained that NCGC was established to address the challenges faced by many viable businesses when seeking loans from banks due to limited collateral or no credit history. The NCGC achieves this objective through its network of 19 financial institutions, comprising 13 commercial banks, three microfinance banks, and three development finance institutions.
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