Nigerian Export-Import Bank
Type | Export credit agency |
---|---|
Founded | July 1, 1991 |
Headquarters | NEXIM House 975 Cadastral Zone AO Central Business District Garki, , |
Area served | Nigeria |
Key people | Abubakar A. Bello Managing Director & Chief Executive Officer |
Owners | Federal Government of Nigeria & Central Bank of Nigeria |
Website | www |
The Nigerian Export-Import Bank (NEXIM) is an export credit agency in Nigeria, established in 1991. In its function, NEXIM focuses on the development and expansion of the non-oil sectors of the Nigerian economy, with a view to reduce the country's over-reliance on oil exports.[1]
Location[]
The headquarters of Nexim are located at NEXIM House, Central Business District, Garki, Abuja, Nigeria.[2] Nexim House is bordered by Kur Mohammed Avenue to the north, Ahmadu Bello Way to the east and Constitution Avenue to the south. Its geographical coordinates are: 09°03'44.0"N, 07°29'37.0"E (Latitude: 09.062222; Longitude:07.493611).[3]
Overview[]
NEXIM was established in 1991 as a joint venture between the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance Incorporated (MOFI), with initial capital of NGN: 50,000,000,000 (approx. US$132 million in 2021 money).[4] *Note: US$1.00 = NGN379.52 on 27 February 2021.
According to the bank's website, some of its core functions include the following:[4]
1. "Provision of export credit guarantee and export credit insurance to qualifying clients".
2. "Provision of credit in local currency to its clients in support of exports".
3. "Maintenance of a foreign exchange revolving fund for lending to exporters who need to import foreign inputs to facilitate export production".
4. "Maintenance of a trade information system in support of export business".[4]
Ownership[]
The financial institution is jointly owned by the CBN and MOFI, on a 50/50 basis.[4]
Financial position[]
As of 31 December 2015, the bank's total assets were valued at NGN:64,731,403,000 (approx. US$170,562,000 in 2021 money), with shareholders' capital of NGN:41,150,885,000 (US$108,429,000).[5] *Note: US$1.00 = NGN379.52 on 27 February 2021.
See also[]
References[]
- ^ This Day (2 November 2014). "NEXIM Bank: Closer to the Economy than Thought". This Day. Lagos. Archived from the original (Archived from the original on 2 April 2015) on 2 April 2015. Retrieved 27 February 2021.
- ^ NEXIM (27 February 2021). "NEXIM Bank: Contact Us". Abuja: Nigerian Export-Import Bank (NEXIM). Retrieved 27 February 2021.
- ^ Google (27 February 2021). "Location of NEXIM House, Central Business District, Abuja, Nigeria" (Map). Google Maps. Google. Retrieved 27 February 2021.
- ^ Jump up to: a b c d NEXIM (27 February 2021). "NEXIM Bank: About Us". Abuja: NEXIM Bank (NEXIM). Retrieved 27 February 2021.
- ^ NEXIM (April 2019). "Audited Financial Statement As of 31 December 2015" (PDF). Abuja: Nigerian Export-Import Bank (NEXIM). Retrieved 27 February 2021.
External links[]
- Company Profile At Wand.com As of April 2015.
- NEXIM Bank: Positioning The Economy For Post Crisis Performance As of November 2020.
- Export credit agencies
- Abuja
- Banks of Nigeria
- Banks established in 1991
- 1991 establishments in Nigeria
- Foreign trade of Nigeria