Fidelity Bank Plc has announced its preparedness to commence the disbursement of the National Credit Guarantee Company (NCGC) N5 billion Credit Intervention Scheme aimed at expanding access to finance for Micro, Small and Medium Enterprises (MSMEs), including women- and youth-led businesses across Nigeria.
The Managing Director and Chief Executive Officer of Fidelity Bank, Dr. Nneka Onyeali-Ikpe, made the disclosure during the signing of a Memorandum of Understanding (MoU) between the bank and NCGC.
According to Onyeali-Ikpe, the collaboration marks a major milestone in Fidelity Bank’s drive to enhance financial inclusion and stimulate economic growth through improved access to credit.
“This guarantee enables us to widen financing opportunities for those who need them most while strengthening our support for key sectors of the Nigerian economy,” she stated.
Focus on Key Sectors
The NCGC-backed facility targets vital sectors such as food processing, secondary agriculture—including fish and poultry processing—fashion, green energy, light manufacturing, education, and export-oriented enterprises. It will also extend to the agricultural value chain, including feed mills and equipment fabrication.
Onyeali-Ikpe noted that Fidelity Bank has a strong track record of supporting emerging industries through initiatives such as the Green Energy Financing Programme, the Fidelity SME Hub, Creativerse for the creative sector, and the Fidelity Education Support Scheme, which funds infrastructure and technology development in schools.
“With the NCGC’s backing, we can now extend financing to businesses traditionally excluded from formal credit systems without compromising risk standards or efficiency,” she added.
She further revealed that the partnership would enable the bank to offer long-term credit to MSMEs, promoting sustainable business expansion. Fidelity Bank has already disbursed more than N500 billion in loans to small businesses over the past five years, supporting thousands of entrepreneurs and creating jobs.
NCGC’s Role in Reducing Lending Risks
In his remarks, NCGC Managing Director, Mr. Bonaventure Okhaimo, explained that the organization was established to mitigate the risks faced by lenders when financing MSMEs.
“Although MSMEs are key drivers of Nigeria’s economy, many face difficulties accessing loans due to high perceived risks. The credit guarantee scheme allows NCGC to share this risk with banks, making it easier for businesses to access capital,” Okhaimo said.
He added that beyond funding, both institutions would collaborate on financial literacy and business management programs to equip beneficiaries with essential skills for managing their loans and achieving long-term growth.
Strengthening Entrepreneurship and Economic Inclusion
The partnership between Fidelity Bank and NCGC underscores a shared vision to empower entrepreneurs, strengthen the MSME ecosystem, and promote inclusive economic development nationwide.
Ranked among Nigeria’s top commercial banks, Fidelity Bank serves over 9.1 million customers through its 255 branches, digital platforms, and its United Kingdom subsidiary, FidBank UK Limited.
The bank has earned multiple awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award (BAFI Awards), Most Innovative Mobile Banking App (Global Business Outlook), and Most Innovative Investment Banking Service Provider (Global Brands Magazine). It was also named Best Bank for SMEs in Nigeria (Euromoney Awards for Excellence) and Export Financing Bank of the Year (BAFI Awards).
