Fidelity Bank Plc has announced its readiness to begin disbursing funds under the National Credit Guarantee Company (NCGC) N5 billion Credit Intervention Scheme.
The initiative aims to expand access to finance for Micro, Small, and Medium Enterprises (MSMEs), as well as businesses owned by women and youths across Nigeria.
The bank’s Managing Director, Dr. Nneka Onyeali-Ikpe, stated that the partnership with NCGC represents a significant step in enhancing financial inclusion and stimulating economic growth through increased access to credit.
“This guarantee will enable us to further expand financing opportunities for those who need it most,” she said.
The facility will cover critical sectors, including: Food processing, Secondary agriculture, Fashion, Green energy, Light manufacturing, Agricultural value chain, Export-oriented businesses and Education.
Dr. Onyeali-Ikpe highlighted that Fidelity Bank has consistently supported diverse sectors through targeted initiatives.
“With the backing of the NCGC credit guarantee, we can now extend financing to businesses that have traditionally been excluded from formal credit systems,” she added.
NCGC Managing Director, Bonaventure Okhaimo, emphasised that the organization was established to bridge the financing gap faced by MSMEs in Nigeria.
“Through the credit guarantee scheme, NCGC shares this risk with banks, making it easier for MSMEs to access much-needed capital,” he said.
NCGC and Fidelity Bank will collaborate to provide financial literacy and business management training to MSME beneficiaries, ensuring they have the knowledge and skills to effectively manage their loans and achieve sustainable growth.
The Fidelity Bank-NCGC partnership reinforces both institutions’ shared commitment to fostering entrepreneurship, strengthening MSMEs, and driving inclusive economic development across Nigeria.
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