From JIDAUNA YANUNG, Abuja
The Bank of Industry (BOI), in partnership with the National Credit Guarantee Company (NCGC), has signed a memorandum of understanding (MOU) to unlock N10 billion in guaranteed loans for women entrepreneurs, as female economic participation gains momentum nationwide.
The initiative would create a guaranteed framework that makes financing more accessible and affordable for thousands of women-owned businesses across Nigeria.
Managing Director of BOI, Dr Olasupo Olusi, while signing the MOU with NCGC Managing Director, Mr Bonaventure Okhaimo, explained that NCGC would provide a 25 per cent Chance Credit Guarantee Cover on BOI loans.
According to Dr Olusi, the programme targeted high-impact sectors, including manufacturing, processing, ICT, digital marketing, e-commerce, healthcare, and education.
The guaranteed loans for women scheme is a national intervention designed to remove long-standing barriers preventing women from scaling their businesses.
“The signing of the MOU represents more than a procedural milestone; it signals a commitment to access to finance for Nigerian entrepreneurs, particularly women, who power the economy,” Dr Olusi said.