By Kehinde Ibrahim, Lagos
FIDELITY Bank Plc has announced its readiness to commence the disbursement of funds under the National Credit Guarantee Company (NCGC) N5 billion Credit Intervention Scheme, aimed at expanding access to finance for Micro, Small and Medium Enterprises (MSMEs) as well as businesses owned by women and youths across Nigeria.
The announcement was made by the Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, during the signing of a Memorandum of Understanding (MoU) between the bank and the NCGC.
According to Dr. Onyeali-Ikpe, the collaboration represents a major step in the bank’s ongoing efforts to deepen financial inclusion and promote economic growth through enhanced 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.
The intervention facility will target key sectors such as food processing, secondary agriculture (including fish and poultry processing), fashion, green energy, light manufacturing, the agricultural value chain (feed mills and equipment fabrication), export-oriented businesses, and education.
Dr. Onyeali-Ikpe further highlighted that Fidelity Bank has consistently demonstrated its commitment to supporting entrepreneurs and MSMEs through several tailored initiatives. These include the Green Energy Financing Programmefor renewable energy entrepreneurs, the Fidelity SME Hub—with a special creative arm known as Creativerse—and the Fidelity Education Support Scheme, which provides affordable financing for educational infrastructure and technological advancements.
“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 explained.
“While we have supported MSMEs with short-term facilities in the past, this partnership allows us to provide long-term credit facilities that empower businesses to expand sustainably.”
Over the past five years, Fidelity Bank has disbursed more than N500 billion in loans to MSMEs, empowering thousands of entrepreneurs and creating sustainable livelihoods nationwide.
Also speaking at the event, Mr. Bonaventure Okhaimo, Managing Director of NCGC, emphasized that the company was established to close the financing gap faced by MSMEs in Nigeria by mitigating lender risks through credit guarantees.
“Although MSMEs are key contributors to Nigeria’s economic development, many of them struggle to secure funding from financial institutions due to perceived high risks,” he said. “Through the credit guarantee scheme, NCGC shares this risk with banks, making it easier for MSMEs to access much-needed capital.”
Mr. Okhaimo added that both organizations will collaborate to provide financial literacy and business management training to MSME beneficiaries to ensure effective utilization of the loans and long-term business sustainability.
The Fidelity Bank–NCGC partnership underscores both institutions’ shared commitment to fostering entrepreneurship, empowering small businesses, and driving inclusive economic development across Nigeria.
Ranked among the leading financial institutions in Nigeria, Fidelity Bank Plc serves over 9.1 million customers through its robust digital channels, 255 business offices nationwide, and its UK subsidiary, FidBank UK Limited.
