The National Insurance Commission has teamed up with the National Credit Guarantee Company to explore ways of increasing access to finance for micro, small, and medium enterprises, local manufacturers, and consumer credit clients.
The partnership was agreed upon during a courtesy visit by NCGC’s management to NAICOM on Friday,
According to The PUNCH.
During the visit, NCGC’s Managing Director, Mr. Bonaventure Okhaimo, presented the company—a private limited firm licensed by the Central Bank of Nigeria in August 2025, explaining its role in facilitating access to finance through innovative partial credit guarantees, strong governance practices, and technology-driven processes.
Mr. Okhaimo also noted NCGC’s two key guarantee products: the National Individual Guarantee and the Portfolio Guarantee, both designed to mitigate risk and expand credit availability.
Mr. Okhaimo stated that NCGC seeks to strengthen collaboration among credit guarantors, banks, insurers, and regulators to mobilize capital, safeguard lenders, and drive inclusive economic growth.
He called for NAICOM’s support, emphasizing the need for a platform where insurers and credit guarantee stakeholders can engage directly, explore syndication and reinsurance options, and foster trust and wider market adoption.
Responding, the Commissioner for Insurance, Mr. Olusegun Omosehin, welcomed the partnership, expressing support for NCGC’s commitment to broadening access to finance for MSMEs, local manufacturers, and consumer credit clients across the country.
Meanwhile, NAICOM and the Presidential Enabling Business Environment Council (PEBEC) have stepped up collaboration under the Business Environment Enhancement Programme Accelerator (BEEPA), a targeted 90-day reform initiative aimed at enhancing regulatory efficiency and improving government service delivery to businesses and citizens.
The accelerator programme runs from 26 January to 26 April, bringing together selected Ministries, Departments, and Agencies in functional clusters to implement measurable, client-focused improvements in service delivery.
