National Credit Guarantee Company to start operations in Q2, says Tinubu

President Bola Tinubu said on Wednesday that the federal government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.

He said this would help his administration further consolidate and increase access to credit for individuals and critical sectors of the economy to boost national economic output.

“The company—expected to start operations before the end of the second quarter—is a partnership of government institutions, such as the Bank of Industry, Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, and Ministry of Finance Incorporated, the private sector, and multilateral institutions,” he said in his New Year Message to Nigerians. 

Tinubu said this initiative will strengthen the confidence of the financial system, expand credit access, and support under-served groups such as women and youth. It will drive growth, re-industrialisation, and better living standards for our people.