President Bola Ahmed Tinubu has appointed Rt. Hon. Yakubu Dogara, a former Speaker of the House of Representatives, as Chairman of the newly established National Credit Guarantee Company Limited (NCGC).
The NCGC is a new government initiative designed to improve access to credit and support inclusive economic growth across Nigeria.
Dogara’s appointment reflects the administration’s goal to place experienced leadership at the forefront of this important economic reform.
As Chairman, he will lead the company’s efforts to reduce the risks involved in lending, making it easier for Micro, Small and Medium Enterprises (MSMEs), small businesses, manufacturers, and consumers to access credit.
The board of the NCGC includes experts from both the public and private sectors. Mr. Bonaventure Okhaimo has been named Managing Director/CEO, while Mrs. Tinuola Aigwedo and Dr. Ezekiel Oseni will serve as Executive Directors.
Non Executive Directors from the Nigeria Sovereign Investment Authority, Bank of Industry, Nigeria Consumer Credit Corporation (CrediCorp), and the Ministry of Finance Incorporated (MOFI) will also be part of the board.
The NCGC is set to begin operations in July 2025 with a capital base of N100 billion, funded by a coalition of major government financial institutions. The World Bank Group is also providing technical support to ensure the company follows global best practices.
As Chairman, Dogara is expected to guide the NCGC in its mission to expand financial inclusion, especially for groups that often struggle to access credit, such as women and young people.
This move highlights the Federal Government’s ongoing efforts to reform Nigeria’s credit system and strengthen the economy.
