President Bola Ahmed Tinubu has appointed former Speaker of the House of Representatives, Rt. Hon. Yakubu Dogara, as Chairman of the Board of the newly established National Credit Guarantee Company Limited (NCGC).
The announcement was made on Thursday in a statement issued by the Presidency. Mr. Bonaventure Okhaimo was also named as the Managing Director and Chief Executive Officer of the company.
Backed by an initial capital of ₦100 billion, the NCGC is a strategic initiative aimed at de-risking lending and expanding access to finance for Micro, Small and Medium Enterprises (MSMEs), manufacturers, small corporates, consumers, and large businesses across Nigeria.
“This initiative aligns with President Tinubu’s New Year pledge to enhance credit access and drive inclusive economic growth,” the statement noted.
Additional key appointments to the company’s leadership include:
- Mrs. Tinoula Aigwedo – Executive Director, Strategy and Operations
- Dr. Ezekiel Oseni – Executive Director, Risk Management
- Ms. Yeside Kazeem – Independent Non-Executive Director and actuarial expert
The Board will also include representatives from major financial institutions:
- Mr. Aminu Sadiq-Umar, MD, Nigeria Sovereign Investment Authority (NSIA)
- Dr. Olasupo Olusi, MD/CEO, Bank of Industry (BOI)
- Mr. Uzoma Nwagba, MD, Nigeria Consumer Credit Corporation (CrediCorp)
- Mrs. Oluwakemi Owonubi, representing the Ministry of Finance Incorporated (MOFI)
The company’s funding is provided by a coalition of stakeholders including MOFI, NSIA, BOI, and Credicorp, with technical assistance from the World Bank Group, which is drawing on its global experience with similar credit institutions.
According to the statement, the NCGC is expected to boost confidence in Nigeria’s financial system, provide better access to credit for women and youth, spur industrial development, and create jobs, all as part of the broader economic reforms under the Tinubu administration.
