The Africa Health Budget Network has commended President Bola Ahmed Tinubu over the recent establishment of the National Credit Guarantee Company Limited (NCGC) in Nigeria.
This initiative which has a take-up sum of N100 billion, is expected to strengthen confidence of Nigerians in the financial system and expand credit access especially to the underserved groups such as women and youth groups.
The AHBN Coordinator, Dr Aminu Magashi Garba, advised President Tinubu on transparency and accountability in disbursing the N100 billion, to ensure it reaches the underserved groups in need of social protection and alleviating poverty and ensuring economic growth and stability.
He called on the new Managing Director and Chairman of the Board to uphold high sense of integrity and responsibility in discharging their duties.
“The should ensure that the N100 billion disbursement is channelled towards credible business proposals and interventions that will strengthen the institutions and the target beneficiaries including vulnerable women, youths and children,” he said.
President Tinubu has set up the (NCGC) to begin operations in July 2025, with the aim to boost access of the underserved groups, such as women and youths, as well asto finance the Micro, Small and Medium Enterprises (MSMEs).
Health Reporters Newspaper reports that the NCGC Board would be chaired by Yakubu Dogara, former Speaker of the House of Representatives, with Mr Bonaventure Okhaimo appointed as the Managing Director/Chief Executive Officer, to head the management team.
The funding would be provided by a consortium comprising of Ministry of Finance Incorporated (MOFI), Nigeria Sovereign Investment Authority (NSIA), Bank of Industry (BOI) and the Nigerian Consumer Credit Corporation (CrediCorp), with the World Bank Group providing technical assistance.