President Bola Tinubu says Nigeria’s NCGC credit guarantee scheme has unlocked ₦46.95 billion in loans within its first year. According to his statement, the scheme supports 67,512 borrowers across 25 states and the Federal Capital Territory (FCT), with about a third reportedly accessing formal credit for the first time.
Both outlets report that the credit guarantee company, NCGC, provides guarantees that enable participating lenders to extend financing. Vanguard adds further detail, saying NCGC issued ₦21.59 billion in loan guarantees that facilitated the ₦46.95 billion in lending. The two reports focus on the scheme’s scale of borrowers, geographic coverage, and early impact on financial inclusion, presenting the figures as evidence of progress in the program’s initial year.
