NATIONAL DIRECTORATE OF EMPLOYMENT
FACILITY
This facility is designed to provide direct financial assistance
to qualified unemployed Nigerian Graduates who have undergone tutelage
with established exporters under the Start-Your-Own-Business (SYOB)
Programme. The objective of the Programme is to create the required
linkage for registered companies/cooperatives owned by unemployed
graduates to go through practical trainings and guidance with reputable
exporters, who may in turn assist them in securing export contracts
from overseas and/or outsource some aspects of their businesses
to them.
The
facility is also designed to provide assistance to Nigerian Graduates
to directly access short-term pre- and post-shipment finance in
support of exports and also to increase their access to institutional
credits by encouraging them to form Co-operatives or Cluster Groups
along identified Product Lines.
Eligibility
The
Scheme shall be available to any un-employed Nigerian Graduate who
has completed the NYSC programme and had undergone training/induction
from the NDE and NEXIM as well as attachment to a reputable exporter
as may be recommended by NEXIM. Qualified graduates could form Co-operatives
or Partnerships for purpose of benefitting from the Programme.
Collateral
Requirements
In
addition to the Degree/NYSC Certificates of loan beneficiaries being
held in trust by NEXIM, the Bank shall secure the facility through
one or a combination of the following:
- Assignments
of the underlying export receivables to NEXIM;
- First
legal charge on export item (stock);
- Personal
and Several Guarantees of the promoters and sponsors.
- Any
other as may be determined from time to time by the Bank.
Documentation
Application
In
addition to the requirements under the eligibility criteria, an
un-employed Graduate/Company/Co-operative Society seeking to benefit
from the NDEF shall forward a formal application to NEXIM accompanied
by of the following documents:
- Evidence
of participation in NEXIM-NDE joint training programme;
- Evidence
of attachment to an established exporter in the form of an Induction
Certificate.
-
Upon the successful completion of their attachments with established
exporters (as recommended by NEXIM), participants shall be issued
with Induction Certificates (ICs) that shall form part of the
required documentation;
- Copies
of the Certificate of Incorporation;
- Copies
of Memorandum and Articles of Association certified by the Corporate
Affairs Commission (CAC);
- Forms
CO2 and CO7 certified by the CAC;
- Audited
Accounts for the last three (3) years and the most recent Management
Account, where available;
- A
Board resolution of the Company/Society to borrow;
- A
letter from applicant authorising NEXIM to obtain any information
about the Graduate/Company/Co-operative Society;
- Pro-forma
invoice(s)/contract orders;
- Full
details of any facility obtained elsewhere, including collaterals,
liens, etc;
- Registration
with the NEPC;
- Duly
executed authorised signature mandate cards;
- Licenses/Permits
from relevant agencies, where applicable;
- An
Undertaking by the applicant that the funds shall be used for
the purposes approved and the export proceeds repatriated at the
end of the transaction.
- A
letter of Attestation from the Exporter the un-employed Graduate
was attached.
Disbursement
NEXIM
shall disburse approved funds upon fulfillment of all conditions
precedent to draw down. Disbursements shall be as agreed between
the beneficiary and NEXIM. NEXIM shall support each transaction
presented under this window up to 80% of the Naira equivalent of
the cost of executing the underlying export order.
Other
Conditions
- If
a beneficiary of the NDEF fails to perform the export/contract
order, NEXIM shall recall the loan and the beneficiary and its
guarantors blacklisted;
- NEXIM
shall have the prerogative to review this guideline from time
to time.
For
further information please contact:
Marketing Division - Trade Finance
Nigerian
Export – Import Bank
NEXIM HOUSE
Plot 975 Cadastral Zone A0,
Central Business District,
PMB 276, Garki,
Abuja, Nigeria.
Phone:
(+234) 9 524 1630 -9 Fax: (+234) 9 524 1640
E-mail: neximabj@neximbank.com.ng
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