Shettima Inaugurates NCGC Board, Backs Easier Access to Credit for Small Businesses
Vice President Kashim Shettima on Thursday inaugurated the Board of Directors of the National Credit Guarantee Company Limited (NCGC Ltd), charging the members to drive financial inclusion and support Nigeria’s grassroots economy by unlocking credit access for micro, small, and medium enterprises (MSMEs).
At the inauguration held at the Presidential Villa in Abuja, the Vice President said the company is a deliberate step by the Tinubu administration to fix a major bottleneck in Nigeria’s development — the lack of access to affordable credit for small businesses.
“This is our response to a stubborn challenge that has stifled our economic potential for decades—access to finance,” Shettima stated. “These entrepreneurs do not ask for handouts; they ask for the credibility of their ideas to be matched by the confidence of our financial institutions.”
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President Bola Ahmed Tinubu had first announced the creation of NCGC on May 29, 2025, as part of his economic reforms. The company is expected to serve as a financial safety net for credible but underfunded entrepreneurs nationwide.
The Vice President described NCGC as “a critical engine” in the drive toward economic inclusion, noting that it will act as a bridge between financial institutions and business owners in sectors ranging from agriculture to technology.
He emphasized that productive citizens — such as a farmer in Ibadan, a leatherworker in Kano, a tech startup founder in Abuja, or a trader in Onitsha — will now have a viable path to financing without being hindered by lack of collateral.
The board is chaired by former Speaker of the House of Representatives, Rt. Hon. Yakubu Dogara, with Mr. Bonaventure Okhaimo serving as Managing Director and CEO. Shettima urged the board to approach the role with “prudence, courage, accountability, and ambition.”
Dogara, in his remarks, said the company represents a meaningful attempt to deliver on the economic promises of democracy. “You can be alive and enjoy rights, but without means to pursue happiness, you’re excluded from democracy’s promise,” he said.
Also speaking, the MD of the Bank of Industry and board member, Dr. Olasupo Olusi, called the initiative a milestone achievement that eliminates long-standing financial bottlenecks faced by small-scale entrepreneurs.
The board includes Mrs. Tinoula Aigwedo (Executive Director, Strategy and Operations), Dr. Ezekiel Oseni (Executive Director, Risk Management), and Ms. Yeside Kazeem (Independent Non-Executive Director), among others. Representatives from key financial institutions such as the Bank of Industry, Nigeria Sovereign Investment Authority, and the Ministry of Finance Incorporated also serve on the board.
With the inauguration of the NCGC board, the federal government moves closer to making inclusive economic growth a reality for millions of Nigerians.
