By Grace Alegba

The National Institute of Credit Administration (NICA), Chartered, and the National Credit Guarantee Company (NCGC) have called on financial institutions and other stakeholders to collaborate in entrenching a robust credit culture in Nigeria.

They made the call on Friday at a sensitisation seminar organised by NICA in Lekki, Lagos.

The two-day event aimed at deepening stakeholders’ understanding of credit guarantee operations and management, with a focus on strengthening relationships between micro, small and medium enterprises (MSMEs), lending institutions, and credit guarantee providers.

They outlined strategies for robust credit system to boost entrepreneurship and promote growth of MSMEs, job creation and effective risk management.

NICA’s Registrar/CEO, Prof. Chris Onalo, in his presentation, explained the complete cycle of credit guarantee operations, challenges and benefits.

Onalo listed benefits of credit to include increased access to finance for MSMEs and other target groups, reduced risk for lenders and contribution to economic growth.

Speaking on the topic: “Understanding the Aims and Objectives of Guarantee Schemes”, he explained the state of credit culture in Nigeria, expressing concerns over the limited knowledge of the concept and its administration.

He emphasised the need for a structured approach to credit governance, adding that the lending institutions operated under a framework different from that of corporate organisations.

Speaking on safety of lenders funds, he assured that the Central Bank of Nigeria (CBN) would not permit lending without collateral which was important for risk mitigation, especially in unforeseen circumstances.

Onalo added that while the credit guarantee scheme was designed to be inclusive, only businesses with proper structures and documentation could access it.

He praised President Bola Tinubu’s administration for ongoing efforts to formalise and promote a national credit culture.

He, however, emphasised the role of structure, transparency and collaboration in achieving this vision.

He also advised entrepreneurs to practice financial discipline by allowing their businesses to pay them no matter the scale for healthy economic growth.

Delivering a keynote, NCGC’s Executive Director, Strategy and Operations, Mrs Tinuola Aigwedo, explained reasons for creation of the company with a mandate to stimulate and support economic activities among MSMEs and local manufacturers.

Aigwedo, represented by a director, Mr Yesufu Ahmed, spoke on the topic: “Strategies for Effective Collaboration in Credit Guarantee Scheme with the Targeted Partners.”

She clarified that the guarantee covered only the principal loan amount, excluding interest and important distinction for both lenders and borrowers.

She listed available products and highlighted the growing importance of institutional credit systems in Nigeria and the urgent need to foster a robust credit culture that supported entrepreneurship while managing risk effectively.

She urged Participating Financial Institutions (PFIs) to leverage guarantees to expand MSME lending safely and maintain prudent credit assessment to avoid moral hazard.

Aigwedo advised borrowers to embrace formal credit opportunities to grow and scale their businesses and also build credit discipline to strengthen access to future financing.

She called on Development Finance Institutions (DFIs) to provide funding and technical support to strengthen the guarantee ecosystem and collaborate on innovations that expanded MSME inclusion and resilience.

She gave the assurance that NCGC would ensure quick turnaround time without creating additional workload for PFIs and would drive continuous stakeholder engagement and capacity building.

“Together, MSMEs, PFIs and guarantee providers form a mutually reinforcing ecosystem where access meets opportunity, risk is shared and inclusive growth is achieved,” she said. (NAN)(www.nannews.ng)

Edited by Kevin Okunzuwa

By Taiye Olayemi

The Nigerian stock market bounced back on Monday, wiping out three straight sessions of losses as investors regained N60 billion in value in a single day.

Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation, which opened at N91.501 trillion, increased by N60 billion or 0.07 per cent to close at N91.561 trillion.

Similarly, the All-Share Index rose by 0.07 per cent or 94.27 points to close at 144,722.47, up from 144,628.20 reported on Friday.

The upward trend was driven by buying interests in key equities such as AIICO, UPDC, Cornerstone Insurance, Deap Capital, Custodian Investment and 38 other stocks.

Also, the market breadth closed positive with 43 gainers and 27 losers.

UPDC led the gainers’ table by 10 per cent, closing at N6.50 while AIICO Insurance also rose by 10 per cent, finishing at N3.80 per share.

Cornerstone Insurance grew by 9.99 per cent, settling at N6.91 and Deap Capital Management soared by 9.94 per cent, closing at N1.61 per share.

Custodian Investment gained by 9.93 per cent, ending the session at N37.25 per share.

On the flip side, Stanbic IBTC Holdings fell by 9.99 per cent, settling at N100 while PZ Cussons dropped by 7.89 per cent, finishing at N35 per share.

Nem Insurance dipped by 7.85 per cent, ending the session at N29.95 and CHAMS shed by 5.26 per cent, closing at N2.70 per share.

Similarly, The Initiates declined by 5.11 per cent, settling at N13 per share.

A total of 1.15 billion shares valued at N16.17 billion were traded across 38,160 transactions, as compared with 1.37 billion shares valued at N13.92 billion that was exchanged across 32,065 transactions earlier on Friday.

Meanwhile, Universal Insurance led the activity chart in volume with 202.25 million shares, valued at N265.8 million.

Champion Breweries followed with 103.23 million shares worth N1.16 billion while Linkage Assurance sold 77.89 million shares valued at N206.5 million.

Lasaco Assurance traded 66.41 million shares worth N263.82 million and Mutual Benefits Assurance transacted 57.8 million shares valued at N244.5 million. (NAN) (www.nannews.ng)

Edited by Olawunmi Ashafa

By Okeoghene Akubuike

The Infrastructure Concession Regulatory Commission (ICRC) has issued guidelines to govern the development and implementation of all Public-Private Partnership (PPP) projects in Nigeria.

The move, the News Agency of Nigeria (NAN) reports, is in a bid to overhaul Nigeria’s infrastructure delivery processes through PPPs.

Dr Jobson Ewalefoh, the Director-General (D-G), ICRC, disclosed this in a statement issued by Ifeanyi Nwoko, the Acting Head of Media and Publicity, ICRC in Abuja.

Ewalefoh said the new framework was unveiled during a high-level stakeholders’ engagement with representatives from all Ministries, Departments, and Agencies (MDAs) of the Federal Government directly involved in PPPs.

He said the framework was released under the statutory powers conferred on the commission by the ICRC Act, 2005, and in compliance with the Presidential directive.

Ewalefoh said the guidelines provided directions and requirements to set up the Project Approval Board for the new approval thresholds of under N20billion for ministries and under N10billion for agencies and parastatals as approved by the President.

“It provides steps for preparing the Outline Business Case (OBC), Full Business Case (FBC) and financial model; guides the procurement routes, and PPP agreement, among others.”

The D-G presented the guidelines, took stakeholders through each section, responded to questions, and clarified points to ensure a clear understanding.

He said that the new guidelines were in response to President Bola Tinubu’s vision to liberalise the economy.

Ewalefoh added that the guidelinse also aligned with the president’s directive to the ICRC to seek innovative ways to attract private sector finance to build infrastructure through PPPs.

“These rules establish a definitive framework for the conception, development, and execution of PPP projects in Nigeria.

“They decentralise project approvals to empower MDAs for faster delivery while safeguarding the ICRC’s role as regulator of PPPs in Nigeria.

“Every PPP project, regardless of sector, scale, or origin must strictly comply with these provisions.

“Every project shall be subjected to our due diligence and compliance requirements,” he said.

The D-G re-emphasised the role of the ICRC as a regulator of PPPs and not an operator or grantor of projects.

Ewalefoh informed the participants that the commission would continually facilitate and coordinate negotiations between MDAs and Private Proponents to ensure that the terms and conditions of agreements were fair to the parties and implementable.

He underscored that the Presidency’s decision to delegate greater approval authority to MDAs, with ICRC regulating the process, also came with heightened accountability and zero tolerance for non-compliance.

Ewalefoh reaffirmed the commission’s commitment to collaborate with MDAs, private investors, financiers, and development partners to reposition Nigeria as the continent’s leading destination for bankable and transformative PPP projects.

At the end of the engagement, participants expressed strong support for the reforms and a readiness to immediately begin implementing the new guidelines. (NAN)(www.nannews.ng)

Edited by Ese E. Ekama–Williams

By Lucy Ogalue

The Nigeria Export Processing Zones Authority (NEPZA) and the National Drug Law Enforcement Agency (NDLEA) are strengthening their collaboration to enhance oversight and ensure compliance within the country’s Free Trade Zones (FTZs).

Dr Olufemi Ogunyemi, Managing Director/Chief Executive Officer of NEPZA, said this during a meeting with retired Gen. Buba Marwa Chairman/Chief Executive Officer of NDLEA, on Monday in Abuja.

Ogunyemi raised concerns over the alleged insistence by some NDLEA officers on inspecting all containers destined for certain Free Trade Zones.

He said such practices could undermine the Federal Government’s one-stop-shop framework designed to streamline operations within the zones.

He stressed the need for all key government agencies operating in the FTZ ecosystem to align with the one-stop-shop model, which was intended to stimulate investment and drive economic revitalisation.

“As you know, NEPZA is the government agency responsible for licensing, monitoring, regulating, and facilitating investment into Nigeria’s Free Trade Zones.

“We have been performing these duties for more than 30 years,” Ogunyemi said.

He explained that the NEPZA Act empowered the Authority to invite NDLEA for joint inspections of goods and containers only when there was reasonable suspicion, ensuring transparency while preventing unnecessary interference with legitimate trade.

The NEPZA boss also reaffirmed the authority’s commitment to eliminate any violations of Nigerian laws within the zones.

He further commended the NDLEA for its efforts in maintaining a drug-free environment under Marwa’s leadership.

In response, Marwa pledged the NDLEA’s continued support for deeper cooperation with NEPZA, stressing that both agencies must work closely to safeguard the integrity of the Free Trade Zones.

“The two agencies must henceforth intensify collaboration to fulfil their mandates without interfering with each other’s work,” Marwa said.

Both leaders agreed to carry out their responsibilities in line with the Federal Government’s Renewed Hope Agenda, which promotes inter-agency synergy, transparency and good corporate governance. (NAN)(www.nannews.ng)

Edited by Abiemwense Moru