The Nigerian Export Import Bank has disclosed that its funding support to Nigerian exporters at the end of the 2012 financial year was over N70 billion even as it restated its commitment to continue to support credible non-oil exporters in the years ahead

Making the disclosure during the Finance Correspondents Association’s (FICAN), 2012 Annual General Meeting (AGM) in Abuja, the Bank’s Managing Director of NEXIM Bank, Mr Roberts Orya, spoke on sundry local and sub-regional initiatives targeted at deepening export-import trade between countries in the West African sub-region and other regions of the world.

Orya, who was represented by the Assistant General Manager/Head, Project, Very Reverend Ifeanyi Nwade, also said that under the direct lending facility, NEXIM grants short, medium and long term fixed rate loans to exporters directly under cofinancing arrangement with eligible banks.

He noted that direct loans are available to assist exporters complete their exports sales by providing working capital, facilities and funds for procurement of equipment.

The seasoned banker also disclosed that loans are granted directly to a Nigerian exporter in both local and foreign currencies up to 80 per cent of the total project cost, however, listed items not eligible for financing to include, armaments, ammunition and other military equipment; psychotropic drugs and narcotic.

Others are, items prohibited by the international conventions or environmental constraints; pornographic and obscene materials and items prohibited for importation by prevailing government policies/guidelines.

NEXIM Bank boss called on any bank wishing to participate in co-financing a project with NEXIM to be in good financial health as evidenced by three years audited accounts and meet additional criteria set by NEXIM from time to time. He said:

“A borrower must be a creditworthy limited liability company, co-operative society, existing/new production units with a minimum of 50 per cent export orientation or an existing provider of export services. The borrower must establish that the loan will develop or expand his export business” Orya said.

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