Nexim Bank Abuja

The Nigerian Export-Import Bank (NEXIM) is a specialized financial institution in Nigeria, established by Act 38 of 1991, operating as an Export Credit Agency (ECA). Jointly owned by the Federal Ministry of Finance Incorporated (MOFI) and the Central Bank of Nigeria (CBN), NEXIM’s core mission is to promote the diversification of Nigeria’s export base and reduce its heavy reliance on oil revenue.

Functioning as a development finance institution rather than a traditional commercial bank, NEXIM provides a range of services designed to support and grow the non-oil export sector. These services include:

• Export Credit Guarantee and Insurance: Protecting banks that lend to exporters and safeguarding exporters against commercial and political risks of non-payment from foreign buyers.
• Credit Facilities: Offering various short and medium-term loans in both local and foreign currencies to facilitate export production, including direct lending, stocking facilities for raw materials, and specialized funds for local input acquisition, the creative industry, and women/youth-led export businesses.
• Foreign Exchange Revolving Fund: Providing foreign currency loans to exporters for importing essential foreign inputs (like machinery and raw materials) for export-oriented production.
• Rediscounting and Refinancing Facility (RRF): Enabling commercial banks to offer pre and post-shipment finance to non-oil exporters at competitive rates.
• Trade Information and Advisory Services: Supplying vital market intelligence and business advice to help Nigerian exporters identify opportunities and navigate international trade.
• Developmental Initiatives: Actively participating in projects like the Sealink Project to boost regional maritime trade and various programs aimed at value addition in key sectors like manufacturing, agriculture (agro-processing), solid minerals, and services (MASS Agenda).

Essentially, NEXIM Bank serves as a crucial enabler for Nigerian businesses looking to engage in international trade, providing the necessary financial support, risk mitigation tools, and advisory services to drive the growth and diversification of Nigeria’s non-oil exports.