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 — a landmark initiative 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/Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, during the signing of a Memorandum of Understanding (MoU) between the Bank and NCGC in Lagos.
Dr. Onyeali-Ikpe described the partnership as a pivotal step in the Bank’s mission to deepen financial inclusion and stimulate 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 stated.
According to her, the facility will target critical 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 ventures, and education.
She noted that Fidelity Bank has remained at the forefront of MSME development through initiatives such as the Green Energy Financing Programme for renewable energy entrepreneurs, the Fidelity SME Hub with its creative arm, Creativerse, and the Fidelity Bank Education Support Scheme, which provides affordable financing for school 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,” Dr. Onyeali-Ikpe added.
“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 over ₦500 billion in loans to MSMEs, empowering thousands of entrepreneurs and fostering sustainable livelihoods across Nigeria.
Also speaking, the Managing Director of NCGC, Mr. Bonaventure Okhaimo, explained that the organization was established to bridge the financing gap faced by MSMEs by mitigating lender risks through credit guarantees.
“Although MSMEs are key contributors to Nigeria’s economic development, many struggle to secure funding from financial institutions due to perceived high risks,” Okhaimo said. “Through the credit guarantee scheme, NCGC shares this risk with banks, making it easier for MSMEs to access much-needed capital.”
He further disclosed that NCGC and Fidelity Bank will jointly provide financial literacy and business management training to MSME beneficiaries to ensure effective loan utilization and long-term sustainability.
The Fidelity Bank–NCGC partnership underscores both institutions’ shared commitment to fostering entrepreneurship, strengthening MSMEs, and driving inclusive economic growth across Nigeria.
Ranked among Nigeria’s leading financial institutions, Fidelity Bank Plc serves over 9.1 million customers through its digital platforms, 255 business offices nationwide, and its United Kingdom subsidiary, FidBank UK Limited.
The Bank has received multiple local and international awards, including:
2024 Excellence in Digital Transformation & MSME Banking Award (BusinessDay BAFI Awards)
2024 Most Innovative Mobile Banking Application (Global Business Outlook)
2024 Most Innovative Investment Banking Service Provider (Global Brands Magazine)
Best Bank for SMEs in Nigeria (Euromoney Awards for Excellence)
Export Financing Bank of the Year (BusinessDay BAFI Awards)
