Fidelity Bank, NCGC Partner to Disburse N5bn Credit Guarantee Facility for MSMEs

Fidelity Bank, NCGC Partner to Disburse N5bn Credit Guarantee Facility for MSMEs

L-R: Executive Director, South Directorate, Fidelity Bank Plc, Pamela Shodipo; Executive Director, Lagos & South West, Fidelity Bank, Dr. Ken Opara; Executive Director, Strategy and Operations, National Credit Guarantee Company Limited (NCGC), Mrs. Tinuola Aigwedo; Executive Director/Chief Risk Officer, Fidelity Bank Plc, Kevin Ugwuoke; MD/CEO, NCGC, Mr. Bonaventure Okhaimo; Managing Director/Chief Executive Officer, Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe; Executive Director/Chief Operations and Information Officer, Fidelity Bank Plc, Stanley Amuchie; and Executive Director, Risk Management, NCGC, Prof Ezekiel Oseni, during the Memorandum of Understanding (MoU) Signing Ceremony between Fidelity Bank and NCGC in Lagos.

LAGOS, NIGERIA – Fidelity Bank Plc has announced its readiness to commence the disbursement of funds under the National Credit Guarantee Company (NCGC) N5 billion Credit Guarantee Scheme aimed at expanding access to finance for Micro, Small, and Medium Enterprises (MSMEs), as well as women- and youth-owned businesses across Nigeria.

The development follows the signing of a Memorandum of Understanding (MoU) between Fidelity Bank and NCGC at a ceremony held in Lagos.

Speaking during the event, Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, said the partnership underscores the bank’s commitment to deepening financial inclusion and driving sustainable economic growth through increased access to credit.

> “This guarantee will enable us to further expand financing opportunities for those who need it most, while strengthening our capacity to support businesses across key sectors of the Nigerian economy,” she said.

According to Dr. Onyeali-Ikpe, the facility will support critical sectors such as food processing, secondary agriculture (including fish and poultry processing), fashion, green energy, light manufacturing, agricultural value chains (feed mills and equipment fabrication), export-oriented businesses, and education.

She further explained that Fidelity Bank has remained a consistent supporter of Nigeria’s MSME ecosystem through various initiatives, including the Green Energy Financing Programme for renewable energy entrepreneurs, the Fidelity SME Hub with its creative industry arm Creativerse, and the Fidelity Education Support Scheme, which offers affordable funding for educational infrastructure and technology upgrades.

> “With the backing of the NCGC credit guarantee, we can now extend financing to businesses that have traditionally been excluded from formal credit systems — without compromising our risk standards or operational efficiency,” she added. “While we have supported MSMEs with short-term facilities in the past, this partnership enables us to provide long-term credit that promotes sustainable business growth.”

Over the past five years, Fidelity Bank has reportedly disbursed more than N500 billion in loans to MSMEs, empowering thousands of entrepreneurs and supporting job creation nationwide.

Also speaking at the signing ceremony, Managing Director of NCGC, Mr. Bonaventure Okhaimo, said the partnership is in line with NCGC’s mandate to close the financing gap faced by MSMEs by mitigating lender risk through credit guarantees.

> “Although MSMEs are key contributors to Nigeria’s economic development, many struggle to access funding due to perceived high risks,” he explained. “Through this credit guarantee scheme, NCGC shares part of that risk with banks, thereby making it easier for MSMEs to access capital.”

Mr. Okhaimo added that both institutions will collaborate to deliver financial literacy and business management training to MSME beneficiaries to ensure prudent loan management and sustainable business growth.

The Fidelity Bank–NCGC partnership, according to both organizations, reinforces their shared vision of empowering entrepreneurs, supporting small businesses, and driving inclusive economic growth across Nigeria.

Ranked among Nigeria’s leading financial institutions, Fidelity Bank Plc serves over 9.1 million customers through digital channels, 255 business offices across Nigeria, and its UK subsidiary, FidBank UK Limited. The Bank has earned multiple recognitions, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay BAFI Awards, Most Innovative Mobile Banking Application by Global Business Outlook, and Best Bank for SMEs in Nigeria by Euromoney Awards for Excellence.