{
  "id": 16817191,
  "title": "NCGC guarantees N64bn loans, reaches 174,495 borrowers",
  "url": "https://urgent.news/2026/10/27/ncgc-guarantees-n64bn-loans-reaches-174-495-borrowers",
  "topic": "world",
  "section": "World",
  "published": "2026-10-27T23:56:51.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/ncgc-guarantees-n64bn-loans-reaches-174495-borrowers/"
  },
  "original_language": "en",
  "account": "The National Credit Guarantee Company Limited (NCGC) has guaranteed N64.13 billion in loans for 174,495 borrowers across all 36 states and the Federal Capital Territory since its establishment last year. Dr Bonaventure Okhaimo, the Managing Director/Chief Executive Officer of NCGC, revealed these figures during a briefing on the company's first year of operations. The report, dated 21 October, indicated that each N1 of guarantee unlocked approximately N2.12 in loans through 19 participating financial institutions, including commercial banks, microfinance banks, and development finance institutions. NCGC provides partial guarantees to de-risk lending, expand credit supply, and catalyze economic growth, without directly lending. When one of the company's participating financial institutions lends to an eligible borrower, NCGC guarantees part of the loan, sharing the loss if repayment fails. This approach enables lenders to offer credit to borrowers who might otherwise be turned away, often with less collateral and more favorable terms. Of the 174,495 borrowers, 74,503 were women, representing 42.7 percent, while 22,616 were first-time formal finance users, accounting for 12.96 percent. Additionally, 7,731 borrowers were recorded under youth empowerment initiatives. Trade and commerce, along with agribusiness and agro-processing, accounted for over 80 percent of the beneficiaries. The company's participation financing institutions (PFIs) reported 175,481 direct jobs associated with the supported borrowers, with an estimated 739,310 indirect jobs, bringing the total jobs impacted to 914,791. In July, NCGC launched GuaranteeHer, a gender-responsive blended-finance credit guarantee framework, in collaboration with the Minister of Women Affairs and Social Development, Imaan Sulaiman-Ibrahim, and unveiled it at the company's first anniversary stakeholders' forum on September 3.",
  "summary": "The National Credit Guarantee Company Limited on Tuesday in Abuja said it has backed N64.13bn in loans to 174,495 borrowers across all 36 states and the Federal Capital Territory since it began operations last year. The company’s Managing Director/Chief Executive Officer, Dr Bonaventure Okhaimo, disclosed this while briefing the State House correspondents in Abuja on Read More:…",
  "key_points": [
    "NCGC guarantees N64.13 billion in loans for 174,495 borrowers nationwide.",
    "42.7% of borrowers are women, 12.96% are first-time formal finance users.",
    "914,791 jobs, including 175,481 direct jobs, created by the program."
  ],
  "editors_take": "By de-risking lending for financial institutions, the credit guarantee model expands access to capital for underserved groups and drives significant job creation across the agribusiness and trade sectors.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Premium Times",
        "title": "NCGC guarantees N64.13bn loans to businesses, individuals",
        "url": "https://urgent.news/2026/10/27/ncgc-guarantees-n64-13bn-loans-to-businesses-individuals",
        "published": "2026-10-27T21:25:25.000Z"
      }
    ]
  },
  "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."
}