Nigerian Export-Import Bank Overview and Products Services

The Nigerian Export-Import Bank is a financial institution that plays a vital role in promoting Nigeria's export development and import substitution. It was established in 1991 to provide financial assistance to Nigerian exporters and importers.

The bank offers a range of products and services that cater to the needs of its clients. These include pre-shipment and post-shipment financing, import financing, and export financing.

The bank's pre-shipment financing facility allows exporters to access funds before the shipment of goods, while its post-shipment financing facility provides financing for the payment of bills and invoices after shipment. This helps to alleviate the cash flow constraints faced by exporters.

The bank's import financing facility, on the other hand, provides financing for the importation of goods and services, including raw materials, machinery, and equipment. This facility is designed to support the growth of Nigerian industries.

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NEXIM was established in 1991 as a joint venture between the Central Bank of Nigeria and the Federal Ministry of Finance Incorporated, with an initial capital of NGN: 50,000,000,000.

This significant investment has enabled NEXIM to provide essential services to Nigerian exporters. The bank's initial capital was approximately US$132 million in 2021 money.

NEXIM's core functions include providing export credit guarantee and export credit insurance to qualifying clients. This support is crucial for small, medium, and large enterprises looking to expand their export business.

The bank also maintains a trade information system in support of export business. This system helps exporters navigate the complexities of international trade and stay informed about market trends.

With its extensive experience in supporting Nigerian exporters, NEXIM has become a vital partner for businesses looking to tap into the country's vast export potential.

Nigerian Export-Import Bank offers various credit services to support Nigerian exporters. These services are designed to mitigate the risks associated with exporting goods and services to international markets.

The bank provides an Export Credit Guarantee Facility, which protects banks against the risks of late payment and default. This facility grants businesses a credit facility that would not have been possible without a NEXIM guarantee.

Eligible goods for this facility include commodities, services, and goods wholly or partly manufactured in Nigeria. Only export-oriented transactions can be guaranteed.

NEXIM also offers an Export Credit Insurance Facility, which protects Nigerian exporters against the risks of non-payment for goods and services rendered. This facility covers both pre-shipment and post-shipment risks.

Here are the types of risks covered by the Export Credit Insurance Facility:

The Nigerian Export-Import Bank (NEXIM) is the country's export credit agency, established in 1991 to promote economic diversification by providing financial and advisory support to Nigerian exporters.

NEXIM's primary objective is to facilitate the growth and development of non-oil exports from Nigeria, providing various financial services and products to Nigerian exporters.

The bank plays a crucial role in supporting Nigerian exporters by providing them with access to financing and mitigating the risks associated with exporting goods and services to international markets.

NEXIM collaborates with other financial institutions, government agencies, and international organizations to achieve its objectives and support Nigerian exporters in accessing global markets.

To qualify for a loan from NEXIM, any company involved in export-related activities is eligible, provided that any activity funded by NEXIM leads to an export of goods or services.

NEXIM can lend to companies directly, but it also finances businesses via intermediary or participating banks, which may have their own lending criteria.

Here are some key services offered by NEXIM:

NEXIM's services aim to address key challenges faced by exporters, including lack of funds and risks associated with non-payment.

If you're looking for funding options, NEXIM has a program specifically designed for the creative and entertainment sector, which can provide loans for up to 7 years.

The Nigerian Export-Import Bank (NEXIM) offers various loan facilities that can be accessed by registered businesses in the creative and entertainment industry. These facilities can be used for various purposes such as growth, quality improvement, job creation, wealth generation, and export of intellectual property and services.

To apply for a NEXIM loan, you can either apply directly to NEXIM or through a commercial bank. You'll need to submit an application form, which will help evaluate the eligibility of your project.

The application form will ask for information such as the amount of money required, the purpose of the loan, the location of the project, and more. You'll also need to provide supporting documents like a company profile, project feasibility study or business plan, projected cash flow, and audited financial accounts.

Processing and approval of NEXIM loans can take between 4-12 weeks, depending on the size of the loan. Timely submission of requested documentation can help speed up the process.

Interest rates on NEXIM loans vary, but can be as low as 6% and as high as 17%. There may also be commitment, administrative, and legal fees to pay.

NEXIM does not give grants, but its partner organization, the Nigerian Export Promotion Council (NEPC), does. The RRF facility, which is available for a maximum period of 1 year, offers a discount window for export bills at a rate of 6% per annum.

Here's a summary of the funding and loan options available:

The Nigerian Export-Import Bank offers a wide range of products and services to support Nigerian exporters. These services are designed to facilitate the growth and development of non-oil exports from Nigeria.

Export credit guarantee is one of the key services offered by NEXIM Bank. This service provides financial protection to exporters in case of non-payment by buyers. NEXIM Bank also offers export credit insurance, which covers risks associated with exporting goods and services to international markets.

Direct lending facility is another service provided by NEXIM Bank. This facility enables exporters to access financing directly from the bank. The bank also offers foreign input facility, which provides financing for the importation of raw materials and equipment needed for export production.

SME export facility is a service specifically designed for small and medium-sized enterprises. This facility provides financing and other forms of support to help SMEs export their goods and services. NEXIM Bank also offers export development facility, which provides advisory services to exporters to help them improve their export performance.

Women and youth export facility is a service designed to support women and youth entrepreneurs who want to export their goods and services. Market access services are also provided by NEXIM Bank to help exporters access new markets and customers.

Here are the products and services offered by NEXIM Bank:

The Nigerian Export-Import Bank (NEXIM) is a vital institution in Nigeria's economy, and its financial information is a key aspect of its operations. As of 31 December 2015, the bank's total assets were valued at NGN:64,731,403,000.

NEXIM's financial position is a result of its efforts to promote the diversification of the Nigerian economy, which is in line with its primary objective. The bank's shareholders' capital stood at NGN:41,150,885,000 as of 31 December 2015.

NEXIM has multiple branches across Nigeria, including in Abuja, Lagos, Kano, Calabar, Makurdi, Maiduguri, and Akure, among others.

Here are some key contact details for NEXIM:

The Nigerian Export-Import Bank (NEXIM) has a significant financial position, with total assets valued at NGN:64,731,403,000 as of December 31, 2015.

This is equivalent to approximately US$170,562,000 in 2021 money, according to the exchange rate of NGN:379.52 per US$1.00 on February 27, 2021.

NEXIM's shareholders' capital is valued at NGN:41,150,885,000, which is equivalent to US$108,429,000 in 2021 money.

The bank's financial position is a crucial aspect of its operations, enabling it to provide financial and advisory support to Nigerian exporters.

Here is a summary of NEXIM's financial position as of 2015:

NEXIM's financial position is a key factor in its ability to promote the growth and development of non-oil exports from Nigeria.

The Nigeria-Africa Trade and Investment Promotion Program (NATIPP) is a joint initiative between African Export-Import Bank (Afreximbank), NEXIM, and the Nigerian Export Promotion Council (NEPC).

NATIPP aims to promote trade and investment between Nigeria and other African countries, leveraging the African Continental Free Trade Area (AFCFTA) agreement.

Afreximbank, NEXIM, and NEPC will work together to identify, prepare, and assess trade transactions and projects, as well as explore co-financing and risk-sharing opportunities.

Eligible business transactions and activities under NATIPP include export-oriented projects promoted by Nigerian organizations and transactions supporting investment in Nigerian manufacturing and subsequent export to other African countries.

The program also supports capital and investment flows between Nigeria and Africa, as well as projects sponsored by Nigerian companies in other African countries.

Transactions that support the exchange of goods and services between Nigeria and the diaspora are also eligible under NATIPP.

Here is a list of eligible business transactions and activities under NATIPP:

Stocking is crucial for manufacturers, especially those dealing with seasonal raw materials. These materials need to be stocked in advance to achieve optimal production levels throughout the year.

The Stocking Facility (SF) is specifically designed to help manufacturers with working capital for this purpose.

NEXIM's SF is an interbank facility made available to exporters in local currency, the Naira.

Interest rates for SF are set at around 14-17%. This credit is advanced for a maximum period of 12 months.

The Nigerian Export-Import Bank (NEXIM) offers various loan facilities to support businesses in the creative and entertainment industry.

Interest rates vary, but can be as low as 6% and go beyond 17%. Apart from interest charges, there may be commitment, administrative, and legal fees to pay.

Loans can be advanced for up to 7 years, and incubation or moratorium periods can also be approved. Any registered business in the creative and entertainment industry can benefit from this facility, provided it operates in the sector.

Some examples of eligible activities include fashion, film, music, radio, and television related activities.

Here is a list of the loan details:

Direct Lending is a facility provided by NEXIM that allows them to directly provide loans to exporters. This facility can also be used as part of a co-financing or syndication arrangement with eligible commercial banks.

The credit advanced can be both short or long term, ranging from 1-3 years. Interest rates may be fixed or floating.

Loans can be disbursed in both local and foreign currencies. Up to 80% of the total cost of a project or transaction can be funded.

The Direct Lending Facility can be used for working capital and for the acquisition of equipment/machinery required to produce goods for export. The export of services, such as consultancy or oil and gas services, may also be considered for financing.

To be eligible for the loan, companies must establish that the credit will help develop or expand their export business.

To apply for a Nigerian Export-Import Bank loan, you'll need to make an application in person at an appropriate branch, either directly to NEXIM or through a commercial bank.

You'll be given an application form to complete, which will help evaluate the eligibility of the project you seek financing for.

The form will ask for information on your business and the project at hand, including the amount of money required, the purpose of the loan, and the location of the project.

You'll also need to provide a company profile, a project feasibility study or business plan, projected cash flow, bank statements for the past 12 months, audited financial accounts, tax clearance certificate, certificate of incorporation, proof of registration with the Nigerian Export Promotion Council, valid means of identification, and proof of address.

A checklist of what's required before a loan is approved could include the following:

There may be a non-refundable application fee that applies, so be sure to factor that into your plans.

NEXIM typically requires collateral, which can include obligations of the Federal Government of Nigeria, physical assets, or third-party guarantors.

When applying for a loan, one of the most important factors to consider is the time it takes to receive the funds. Processing and approval can take anywhere from 4 to 12 weeks.

In many cases, the timely submission of requested documentation can aid in speeding up the process. This is especially true for larger funds, which tend to take longer to process.

The Nigerian Export-Import Bank (NEXIM) is a financial institution that plays a crucial role in supporting Nigerian exporters by providing them with access to financing and mitigating the risks associated with exporting goods and services to international markets.

NEXIM Bank provides various financial services and products to Nigerian exporters, including export credit facilities, export credit insurance, export guarantees, and advisory services. It also collaborates with other financial institutions, government agencies, and international organizations to achieve its objectives.

You can contact NEXIM Bank at (+234) 9 4603630 – 9 or via email at [email protected]. You can also visit any of their regional offices across Nigeria, listed below.

The financial institution is jointly owned by the CBN and MOFI, on a 50/50 basis. This unique ownership structure allows for a balanced decision-making process and a shared responsibility in the institution's success. The CBN and MOFI have equal shares in the institution, which is a key factor in its stability and growth.

WAYEF: Women and Youth Export Facility is a game-changer for Nigerian exporters. NEXIM established this facility to support women and youth involved in the non-oil export value chain.

NEXIM aims to increase access to credit for women and youth, facilitating national industrialization and diversifying the economy away from oil and gas. The facility targets women and youths between the ages of 18-35.

The maximum loan amount is N50 million, with a maximum of 80% of the total project or transaction cost. Loans are extended for a maximum of 12 months with a possible moratorium period.

The applicable interest rate is 9%. This facility is a great opportunity for women and youth to access financing and grow their export businesses.

Here are some key details about the WAYEF facility:

NEXIM Bank is a financial institution that plays a crucial role in supporting Nigerian exporters by providing them with access to financing and mitigating the risks associated with exporting goods and services to international markets.

NEXIM Bank was established in 1991 to promote the diversification of the Nigerian economy by providing financial and advisory support to Nigerian exporters. Its primary objective is to facilitate the growth and development of non-oil exports from Nigeria.

NEXIM Bank provides various financial services and products to Nigerian exporters, including export credit facilities, export credit insurance, export guarantees, and advisory services.

To access these services, businesses can contact NEXIM Bank at (+234) 9 4603630 – 9 or email [email protected].

Here are the physical addresses of NEXIM Bank branches across Nigeria: