JUST IN: Tinubu Establishes National Credit Guarantee Company, Appoints Board and Management (Full List)

President Bola Ahmed Tinubu has approved the establishment of the National Credit Guarantee Company Limited (NCGC). This new institution is designed to de-risk lending and improve financing opportunities for Micro, Small and Medium Enterprises (MSMEs), small corporates, manufacturers, consumers, and large enterprises across Nigeria.

The creation of NCGC fulfills a key pledge made by the President in his 2025 New Year address, in which he committed to unlocking credit as a pathway to national prosperity. According to the Presidency, the initiative will strengthen confidence in the financial system, expand lending to under-served demographics such as women and youth, and stimulate reindustrialization, job creation, and better living conditions for Nigerians.

To lead the company, President Tinubu has approved the appointment of a Board and Management team composed of professionals and key industry stakeholders. The full list of appointments is as follows:

Rt. Hon. Yakubu Dogara – Chairman of the Board

Mr. Bonaventure Okhaimo – Managing Director/Chief Executive Officer

Mrs. Tinuola Aigwedo – Executive Director, Strategy & Operations

Dr. Ezekiel Oseni – Executive Director, Risk Management

Ms. Yeside Kazeem – Independent Non-Executive Director

Mr. Aminu Sadiq-Umar – Non-Executive Director (Managing Director, Nigeria Sovereign Investment Authority)

Dr. Olasupo Olusi – Non-Executive Director (Managing Director/CEO, Bank of Industry)

Mr. Uzoma Nwagba – Non-Executive Director (Managing Director, Nigeria Consumer Credit Corporation)

Mrs. Oluwakemi Owonubi – Non-Executive Director (Representative, Ministry of Finance Incorporated)

The National Credit Guarantee Company is scheduled to commence full operations in July 2025, backed by an initial capital of ₦100 billion. The funding consortium includes the Ministry of Finance Incorporated (MOFI), the Nigeria Sovereign Investment Authority (NSIA), the Bank of Industry (BOI), and the Nigeria Consumer Credit Corporation (CrediCorp).

The World Bank Group is also providing technical assistance, contributing its global expertise to the development and operationalization of the NCGC.