Vice President Kashim Shettima has inaugurated the Board of Directors of the National Credit Guarantee Company (NCGC) Limited, a strategic move aimed at bridging the financing gap that has long affected micro, small, and medium-sized enterprises (MSMEs) in Nigeria.
At the inauguration ceremony which was held at the Presidential Villa in Abuja on Thursday, Shettima said the NCGC is a critical engine in the pursuit of economic inclusion and sustainable growth.
“NCGC is that bridge. It is the assurance that when a farmer in Ibadan needs a loan to expand her cocoa farm, when a tech start-up in Abuja needs working capital to scale, when a leather artisan in Kano seeks to mechanise his craft, and when a trader in Onitsha needs capital to expand, the system will no longer fail them,” he said.
“It is a promise that productive Nigerians will not be stranded for want of guarantees.”
Shettima urged the board to deepen financial inclusion and stimulate Nigeria’s grassroots economy, balancing prudence with courage and accountability with ambition.
“This is a call to deploy your diverse expertise not only as overseers but as enablers of transformation,” he said.
The NCGC Board of Directors is chaired by Mr. Yakubu Dogara, former Speaker of the House of Representatives.
In his remarks, Dogara thanked President Tinubu for his bold leadership, emphasizing that the establishment of the NCGC is an attempt to give “vent to our democracy to deliver on its promise.”
“Our democracy must deliver not just political and individual rights but economic opportunities,” he said.
The board comprises experienced professionals, including Mrs. Tinoula Aigwedo, Executive Director of Strategy and Operations; Mr. Ezekiel Oseni, Executive Director of Risk Management; and Mrs. Yeside Kazeem, Independent Non-Executive Director.
Non-executive board members representing key financial institutions include Mr. Olasupo Olusi, Managing Director of the Bank of Industry (BOI); Mr. Aminu Sadiq-Umar, Managing Director of the Nigeria Sovereign Investment Authority; Mr. Uzoma Nwagba, Managing Director of the Nigerian Consumer Credit Corporation; and Mrs. Oluwakemi Owonubi from the Ministry of Finance Incorporated (MOFI).
Olusi noted that the establishment of the NCGC reflects the administration’s drive to dismantle structural barriers that have long restricted access to finance for MSMEs.
“This milestone is a result of dedicated hard work by a coalition of partners like BOI, Ministry of Finance Incorporated, Nigerian Consumer Credit Corporation, Nigeria Sovereign Investment Authority, and the World Bank, who have all worked closely together under the direction of the Presidential Committee,” he said.
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