{
  "id": 16780321,
  "title": "NCGC: We’ve Unlocked N64.13bn Loans, Support 914,791 Jobs",
  "url": "https://urgent.news/2026/10/27/ncgc-weve-unlocked-n64-13bn-loans-support-914-791-jobs",
  "topic": "world",
  "section": "World",
  "published": "2026-10-27T18:25:43.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/10/27/ncgc-weve-unlocked-n64-13bn-loans-support-914791-jobs/"
  },
  "original_language": "en",
  "account": "The National Credit Guarantee Company (NCGC) has provided N64.13 billion in loans to Nigerian businesses and individuals, enabling the creation of approximately 914,791 jobs in its operation spanning under one and a half years. Chief Executive Officer, Dr Bonaventure Okhaimo, revealed that 22,616 first-time borrowers, predominantly women (42.7%), received access to formal bank credit through NCGC's initiative. By assuming up to 60% of credit risk, NCGC encourages financial institutions to extend credit to otherwise unqualified borrowers, thus unlocking loans that would otherwise be unavailable due to inadequate collateral. The NCGC's credit guarantees have facilitated lending to 170,000 beneficiaries through 19 participating financial institutions, including commercial and microfinance banks. The company aims to increase youth and women participation in its initiatives to at least 40% and 70% respectively, considering Nigeria's young population and the economic empowerment of women.",
  "summary": ".Says women account for 42.7% of 22,616 Nigerians accessing bank loans for first time Deji Elumoye in Abuja The National Credit Guarantee Company (NCGC) has disclosed that it has facilitated",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}