NCGC Unlocks N46.95 billion in Loans Through N21.59 billion Guarantees, Tinubu Says

President Bola Tinubu has revealed that the National Credit Guarantee Company (NCGC), through 19 financial institutions, has helped unlock N46.95 billion in loans during its first year of operations.

President Bola Tinubu has revealed that the National Credit Guarantee Company (NCGC), through 19 financial institutions, has helped unlock N46.95 billion in loans during its first year of operations.

This disclosure is contained in a series of posts on President Tinubu’s X (formerly Twitter) account on Monday, September 28, 2026, where he stated that NCGC issued  N21.59 billion in guarantees to these participating financial institutions.

Tinubu stated this means that the financial institutions will extend loans of about N2.17 for every N1 in guarantees by the federal government.

What he is saying

Tinubu stated that NCGC was established to help sort out the difficulties that many viable businesses face at the bank when trying to access loans with little collateral or no credit.

• He said, ‘’Many viable businesses still meet the same obstacle at the bank. Lenders see too much risk in a sound business when the owner has little collateral or no credit history. We established NCGC to help change that. It carries part of the lending risk with participating financial institutions, giving them greater confidence to lend to businesses and borrowers they might otherwise turn away.’’

According to Tinubu, the NCGC works to achieve these through 19 financial institutions that include 13 commercial banks, three microfinance banks and three development finance institutions.

• ‘’One year into operations, we can see what that model is doing. NCGC has issued ₦21.59 billion in guarantees. On the strength of those guarantees, participating lenders have extended ₦46.95 billion in loans. That means every ₦1 in guarantees has helped unlock about ₦2.17 in credit,’’ he said.

More to follow…