By Bassey Udo
The National Insurance Commission (NAICOM) says it is collaborating with the National Credit Guaranty Company (NCGC) to explore ways of expanding access to finance for micro, medium and small enterprises (MSMEs), local manufacturers, and consumer credit customers in the country.
The Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, disclosed this when he received the NCGC management led by the Managing Director, Mr. Bonoventure Okhaimo, in his office recently.
Welcoming the NCGC delegation, the Commissioner for Insurance said he shared the NCGC’s commitment to expanding access to finance for MSMEs, local manufacturers, and consumer credit customers nationwide.
He said NAICOM was ready to collaborate with the NCGC to realize its corporate objectives to the benefit of the people.
The NCGC is a private limited company licensed by the Central Bank of Nigeria in August 2025 to catalyze access to finance through innovative partial credit guarantees, governance best practices, and technology-enabled processes.
In his remarks, Okhaimo highlighted NCGC’s two guarantee products, namely National Individual Guarantee and Portfolio Guarantee, designed to reduce risk and boost credit access.
Mr. Okhaimo said that the NCGC aims to strengthen partnerships between credit guarantors, banks, insurers, and regulators, mobilizing capital, protecting lenders, and accelerating inclusive economic growth.
He sought NAICOM’s collaboration, stressing the need for a platform where insurers and credit guarantee stakeholders can engage directly, explore syndication and reinsurance solutions, and drive sectoral trust and market uptake.
