Fidelity Bank Plc, one of Nigeria’s leading financial institutions, has announced its readiness to commence the disbursement of funds under the National Credit Guarantee Company (NCGC) N5 billion Credit Intervention Scheme, a programme aimed at improving access to finance for Micro, Small and Medium Enterprises (MSMEs), as well as women- and youth-owned businesses across the country.
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The announcement was made by the Managing Director and Chief Executive Officer of Fidelity Bank, 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 partnership marks a major milestone in Fidelity Bank’s commitment to deepening financial inclusion and supporting Nigeria’s economic growth by empowering businesses with easier access to credit.
“This collaboration with NCGC will enable us to expand financing opportunities for those who need it most, while strengthening our ability to support businesses across key sectors of the Nigerian economy,” she said.
The facility will target priority 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 noted that Fidelity Bank has remained consistent in its support for entrepreneurs through tailored initiatives like the Green Energy Financing Programme for renewable energy businesses, the Fidelity SME Hub—which includes Creativerse, a platform for the creative industry—and the Education Support Scheme, which offers affordable loans for school infrastructure and digital learning tools.
“With the NCGC credit guarantee, we can now extend long-term financing to businesses that have often been excluded from traditional credit systems—without compromising our standards or efficiency,” she added.
Over the past five years, Fidelity Bank has disbursed more than ₦500 billion in loans to MSMEs, helping thousands of small businesses grow and create sustainable jobs.
Speaking at the event, Mr. Bonaventure Okhaimo, Managing Director of NCGC, highlighted the organisation’s mission to close the financing gap for MSMEs by reducing lender risk through credit guarantees.
“MSMEs are the backbone of Nigeria’s economy, but many still face difficulties accessing credit due to high-risk perceptions. The NCGC helps share that risk with banks, making it easier for small businesses to secure the capital they need to thrive,” he explained.
He further revealed that NCGC and Fidelity Bank will collaborate to offer financial literacy and business management training to loan beneficiaries, ensuring that they can effectively manage funds and achieve lasting growth.
The partnership, he said, reflects both institutions’ shared commitment to supporting entrepreneurship, strengthening MSMEs, and driving inclusive economic development across Nigeria.
Fidelity Bank Plc serves over 9.1 million customers through digital channels, 255 business offices across Nigeria, and its UK subsidiary, FidBank UK Limited.
The bank’s exceptional performance continues to earn recognition locally and internationally. In 2024, it received the Excellence in Digital Transformation & MSME Banking Award at the BusinessDay Banks and Financial Institutions (BAFI) Awards, the Most Innovative Mobile Banking App award from Global Business Outlook, and the Most Innovative Investment Banking Service Provider award by Global Brands Magazine. It was also named Best Bank for SMEs in Nigeria by Euromoney and Export Financing Bank of the Year by BusinessDay BAFI Awards.
