Fidelity Bank Plc has announced the commencement of disbursements under the National Credit Guarantee Company’s (NCGC) ₦5 billion Credit Intervention Scheme, aimed at addressing the funding challenges faced by Micro, Small, and Medium Enterprises (MSMEs), as well as women- and youth-led businesses across Nigeria.
During the signing of the Memorandum of Understanding (MoU) between Fidelity Bank and NCGC, the bank’s Managing Director, Dr. Nneka Onyeali-Ikpe, described the initiative as a significant milestone in advancing financial inclusion and stimulating economic participation through enhanced credit accessibility. She explained that the NCGC’s guarantee framework would enable Fidelity Bank to extend financing to enterprises that are typically excluded from traditional lending, while maintaining robust risk management practices.
The credit scheme targets critical productive sectors such as food processing, secondary agriculture (including fisheries and poultry), fashion, renewable energy, light manufacturing, export-oriented ventures, and education. Onyeali-Ikpe reaffirmed the bank’s commitment to industry-specific development through ongoing initiatives such as the Green Energy Financing Programme, the Fidelity SME Hub’s Creativerse platform for the creative sector, and the Education Support Scheme that funds digital transformation and infrastructure upgrades in schools.
“With this partnership, we can now provide long-term financing to MSMEs, going beyond short-term interventions to promote sustainable business growth,” she said. Over the last five years, Fidelity Bank has disbursed over ₦500 billion to MSMEs, supporting thousands of entrepreneurs and contributing to job creation nationwide.
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NCGC’s Managing Director, Bonaventure Okhaimo, emphasized that the company was created to close the MSME financing gap by providing credit guarantees that reduce lending risks for banks. He noted that, despite MSMEs’ crucial role in GDP and employment generation, they often face limited access to financing due to high-risk perceptions. Through this initiative, NCGC will share credit risks with banks, improving access to affordable capital.
Beyond financing, the collaboration will also incorporate financial literacy and business management training to equip entrepreneurs with the skills needed to effectively manage resources and scale sustainably.
The Fidelity Bank–NCGC partnership reflects a shared goal of strengthening Nigeria’s MSME ecosystem, fostering entrepreneurship, and promoting inclusive, innovation-driven economic growth across the country.
