NCGC unlocks N64bn credit, vows to end collateral barrier for viable businesses.
It said it is supporting an estimated 914,791 […] The post NCGC unlocks N64bn credit, vows to end collateral barrier for viable businesses appeared first on Vanguard News .
By Johnbosco Agbakwuru ABUJA– THE National Credit Guarantee Company Limited (NCGC) on Tuesday said its guarantees have already unlocked ₦64.13 billion in loans for 174,495 borrowers nationwide, as it intensifies efforts to dismantle the collateral barriers that have long shut viable Nigerian businesses out of formal credit.
It said it is supporting an estimated 914,791 direct and indirect jobs within its first 14 months of operation.
Managing Director and Chief Executive Officer, Dr. Bonaventure Okhaimo, disclosed this while briefing State House correspondents at the presidential villa, Abuja, on the company’s achievements, challenges and expansion plans. The company, which was established by President Bola Tinubu to dismantle longstanding barriers to credit access, has also disclosed that 22,616 Nigerians who had never accessed formal bank credit have secured loans through its intervention, while women now account for 42.7 per cent of beneficiaries. Okhaimo, who was accompanied by the Executive Director, Risk Management, Professor Ezekiel Oseni, and Executive Director, Strategy and Operations, Mrs.
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