Connect with us

Metro

CAC Pledges Collaboration With National Credit Guarantee Company to Boost MSMEs

Published

1 hour ago

on

The Corporate Affairs Commission (CAC) has pledged to collaborate with the National Credit Guarantee Company Limited (NCGC) to strengthen access to finance for Micro, Small and Medium Enterprises (MSMEs) and support the Federal Government’s economic development agenda. The commitment was made by the Registrar-General and Chief Executive Officer of the……

The Corporate Affairs Commission (CAC) has pledged to collaborate with the National Credit Guarantee Company Limited (NCGC) to strengthen access to finance for Micro, Small and Medium Enterprises (MSMEs) and support the Federal Government’s economic development agenda.

The commitment was made by the Registrar-General and Chief Executive Officer of the CAC, Hussaini Ishaq Magaji (SAN), during a courtesy visit by the Managing Director and Chief Executive Officer of the NCGC, Bonaventure Okhaimo, at the Commission’s headquarters in Abuja.

The development was disclosed in a statement shared on the CAC’s official X handle, on Thursday.

READ ALSO: CAC Moves to Strike Off 100,000 Companies Over Non-Compliance

According to the statement, Magaji urged the NCGC to remain focused on delivering its mandate in line with President Bola Tinubu’s Renewed Hope Agenda.

He charged the agency to “strive hard to realize its objectives in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.”

The CAC boss also emphasised the importance of leveraging the country’s MSME sector to drive economic growth and national development.

He assured the NCGC of the Commission’s support, encouraging the agency to make use of the CAC’s digital platform in verifying the compliance status of prospective clients.

According to the statement, “the Registrar-General enjoined the Company to leverage the Commission’s portal to verify the compliance status of their prospective clients.”

Earlier, the Managing Director of the NCGC, Bonaventure Okhaimo, highlighted the achievements recorded by the agency within its first year of operation, noting that it was established by the Tinubu administration to stimulate the growth and development of MSMEs.

Okhaimo also commended the CAC for its ongoing reform initiatives and expressed confidence that closer collaboration between both institutions would enable the company to fulfil its mandate.

The statement noted that the NCGC was established by President Tinubu to tackle one of Nigeria’s long-standing economic challenges by improving access to sustainable long-term financing for MSMEs, local manufacturers and other underserved sectors through the provision of Partial Credit Guarantees.

Related Topics:

Trending