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.
Tier-one lender Fidelity Bank Plc has announced its readiness to begin disbursement under the National Credit Guarantee Company (NCGC) N5 billion Credit Guarantee Scheme. The initiative aims to expand access to finance for Micro, Small and Medium Enterprises (MSMEs), including women- and youth-owned businesses across Nigeria.
The announcement was made by Fidelity Bank’s Managing Director and Chief Executive Officer, Nneka Onyeali-Ikpe, during the signing of a Memorandum of Understanding (MoU) between the bank and NCGC.
According to Onyeali-Ikpe, the partnership represents a major step in the bank’s ongoing efforts to enhance financial inclusion and stimulate economic growth.
“This guarantee will enable us to 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 credit facility targets critical sectors including food processing, secondary agriculture (fish and poultry), fashion, green energy, light manufacturing, the agricultural value chain (feed mills and equipment fabrication), export-oriented businesses, and education.
Onyeali-Ikpe noted that Fidelity Bank has consistently supported various sectors through targeted initiatives such as the Green Energy Financing Programme for renewable energy entrepreneurs, the Fidelity SME Hub with its creative industry arm “Creativerse,” and the Fidelity Bank Education Support Scheme, which provides affordable financing for educational infrastructure and technology upgrades.
“With the backing of the NCGC guarantee, we can extend financing to businesses traditionally excluded from formal credit systems—without compromising risk standards or operational efficiency,” she added. “Beyond short-term support, this partnership allows us to provide long-term credit that empowers businesses to scale sustainably.”
Over the past five years, Fidelity Bank has disbursed over N500 billion in loans to MSMEs, supporting thousands of entrepreneurs and creating sustainable jobs.
Also speaking at the event, NCGC Managing Director Bonaventure Okhaimo reaffirmed the company’s mandate to bridge the financing gap for MSMEs by mitigating lender risks through credit guarantees.
“Although MSMEs play a critical role in Nigeria’s economy, many face funding barriers due to perceived high risks. Through our credit guarantee scheme, we share this risk with banks, making it easier for MSMEs to access much-needed capital,” he stated.
Okhaimo added that the partnership will also include financial literacy and business management training to help beneficiaries effectively manage their loans and ensure sustainable growth.
The Fidelity Bank–NCGC collaboration underscores both institutions’ shared commitment to fostering entrepreneurship, strengthening MSMEs, and driving inclusive economic development nationwide.
Ranked among Nigeria’s top banks, Fidelity Bank serves over 9.1 million customers through its digital platforms, 255 business offices in Nigeria, and its UK subsidiary, FidBank UK Limited. The bank has received multiple awards, 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.
