BRIEF ON NEXIM
The
Nigerian Export-Import Bank (NEXIM) was established by Act
38 of 1991 as an Export Credit Agency (ECA) with a share capital
of N500, 000,000 (Five Hundred Million Naira) held equally by the
Federal Government of Nigeria and the Central Bank of Nigeria. The
Bank which replaced the Nigerian Export Credit Guarantee & Insurance
Corporation earlier set up under Act
15 of 1988, has the following main statutory functions: -
- Provision
of export credit guarantee and export credit insurance facilities
to its clients.
- Provision
of credit in local currency to its clients in support of exports.
- Establishment
and management of funds connected with exports.
- Maintenance
of a foreign exchange revolving fund for lending to exporters
who need to import foreign inputs to facilitate export production.
- Maintenance
of a trade information system in support of export business.
- Provision
of domestic credit insurance where such a facility is likely
to assist exports.
The
Bank presently provides short and medium term loans to Nigerian
exporters. It also provides short term guarantees for loans granted
by Nigerian Banks to exporters as well as credit insurance against
political and commercial risks in the event of non-payment by foreign
buyers. The Bank is also the government’s National Guarantor
under the ECOWAS Inter-state Road Transit programme.
The
Bank’s authorized capital as at December 31 2006 was N50.0
billion with a fully paid-up portion amounting to N11.00 billion.
Board Of Directors
Management
Contact Information
|
