NCGC Secures N64.13 Billion in Loan Guarantees for Businesses and Individuals
The Nigerian Commodity Exchange (NCGC) has announced a remarkable N64.13 billion in loan guarantees aimed at supporting both businesses and individuals across the country. This initiative has successfully reached 174,495 borrowers spanning all 36 states and the Federal Capital Territory.
The Abuja Times
The Nigerian Commodity Exchange (NCGC) has unveiled its latest financial initiative, guaranteeing loans totaling N64.13 billion to stimulate economic growth and support entrepreneurial ventures across Nigeria. This substantial funding is aimed at empowering both businesses and individuals, providing them with the necessary capital to thrive in an increasingly competitive market.
According to Mr. Okhaimo, a representative from NCGC, the initiative has already made significant strides, reaching a total of 174,495 borrowers throughout all 36 states and the Federal Capital Territory (FCT). This extensive outreach underscores NCGC's commitment to enhancing financial inclusion and providing critical support to those who may otherwise struggle to secure funding.
“Our mission is to ensure that every Nigerian, regardless of their location, has access to the financial resources they need to succeed,” Okhaimo stated. “By providing these guarantees, we are not only reducing the risks for lenders but also empowering individuals and businesses to pursue their dreams.”
The N64.13 billion loan guarantee program represents a proactive approach to addressing the financial challenges faced by many in the country. As Nigeria continues to navigate economic uncertainties, such initiatives are vital for fostering growth and stability in the business sector.
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