The Nigerian Export-Import Bank (NEXIM) was established by Act 38 of 1991 as an Export Credit Agency (ECA) with a share capital of N50, 000,000,000 (Fifty Billion Naira) held equally by the Federal Ministry of Finance Incorporated and the Central Bank of Nigeria. The Bank which replaced the Nigerian Export Credit
Guarantee & Insurance Corporation earlier set up under Act 15 of 1988, has the following main statutory functions: –
- Provision of export credit guarantee and export credit insurance facilities to its clients.
- Provision of credit in local currency to its clients in support of exports.
- Establishment and management of funds connected with exports.
- Maintenance of a foreign exchange revolving fund for lending to exporters who need to import foreign inputs to facilitate export production.
- Provision of domestic credit insurance where such a facility is likely to assist exports.
- Maintenance of a trade information system in support of export business.
The Bank presently provides short and medium term loans to Nigerian exporters. It also provides short term guarantees for loans granted by Nigerian Banks to exporters as well as credit insurance against political and commercial risks in the event of non-payment by foreign buyers. The Bank is also the government’s National Guarantor under the ECOWAS Inter-state Road Transit programme.
To be the leading Export Development Bank in Africa
To promote export diversification through the provision of Finance, Risk Bearing and Advisory Services in line with Government trade policy and best practice.
Performance Target/Customer Expectation
Performance Target/Customer Expectation
The Bank undertakes to provide competitively priced interest and fee-based product/services with emphasis on Risk Bearing, Business Advisory Services and Export Finance.
To ensure that our customers consistently get the best quality service available, the Bank will continually benchmark performance with Industry Best Practices. We will also ensure that all key activity processes especially those which interface with our customers, are completed effectively within approved time limits and to agreed standards of service delivery.
Our web site, www.neximbank.com.ng offers you access to information and services of the Bank. The Bank’s website will serve as its front office providing a convenient alternative through which all credit and other processes relating to our services may be initiated and monitored.
Application Processing Timelines
The Time frames for processing of requests under the Bank’s facilities are as follows provided that the customer submits all the relevant documents required:
Rediscounting & Refinancing Facility: within 5 working days
Short Term Credits: within 40 working days
- Medium/Long Term Credits: within 120 working days
If a loan is established, upon disbursement conditions being satisfied, we will release funds within five (5) working days.
Obligation of Customers
In order to ensure efficient service delivery, the customer is expected at all times to provide full disclosure of all the information pertinent to transactions under consideration.Sometimes when we receive information, we may have to ask you for some further information, which we could not originally have anticipated. If we require additional information, we will inform you promptly.
Limitation to Service Delivery
We will consider all requests for credit support within the limits of available resources, due diligence and the Bank’s strategic objectives. In doing so, we may prioritize our interventions to ensure all objective criteria are met.
Stakeholder Participation in Service Provision
All stakeholders should feel free to contribute their quota towards sufficient and effective service delivery through consultations, regular feed back and customer survey, which we organize regularly.
Our Commitment to You
The Bank is an equal opportunity employer and financier providing opportunities and service to all parties on the basis of sound technical and moral judgment.
NEXIM will endeavor to consistently provide our customers with value, demonstrated in high quality service. To this end, the NEXIM Banker will communicate with you, our customer in a proactive manner emphasizing our key values of professionalism and excellence in service delivery.
In order to ensure our services offer value, exceeding your expectations, we will maintain an open channel of communication with all our stakeholders to provide solutions to the requirements of your business. To this end we need to partner with you, our customers, to ensure that all information necessary, at each stage of the transaction, is made available to us to assist us in the decision process.
Complaints and Grievance Mechanism