The National Insurance Commission NAICOM and the National Credit Guaranty Company NCGC, are focused expanding access to finance for MSMEs, local manufacturers, and consumer credit customers. This was the core of the visit of NCGC Managing Director, Mr. Bonaventure Okhaimo to the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, on February 26, 2026.
Mr. Okhaimo said NCGC, a private limited company licensed by the Central Bank of Nigeria in August 2025 to guarantee access to finance through innovative partial credit guarantees, governance best practices, and technology-enabled processes. He remarked that the company has two guarantee products: National Individual Guarantee and Portfolio Guarantee, designed to reduce risk and boost credit access.
He cleared that NCGC aims to strengthen partnerships between credit guarantors, banks, insurers, and regulators, mobilizing capital, protecting lenders, and accelerating inclusive economic growth. He stated that NCGC seeks NAICOM’s platform where insurers and credit guarantee stakeholders can engage directly, explore syndication and reinsurance solutions, and drive sectoral trust and market uptake.
Responding, the Commissioner for Insurance welcomed the collaboration, sharing NCGC’s commitment to expanding access to finance for MSMEs, local manufacturers, and consumer credit customers nationwide.
