To capture the huge informal intra-regional trade, estimated at $12bn yearly by the Nigerian Export Promotion Council,  the ECOWAS Trade Support Facility (ETSF) was introduced and designed toward improving the current trade level of less than 8.5% as of 2010, deepening the volume of recorded/formal trade within the ECOWAS Sub-region, as well as fostering the implementation of the Government’s Trade Policy and Regional Integration policies like the ECOWAS Trade Liberalisation Scheme (ETLS), among others.   Specifically, the ETSF aims at:
  • Facilitating formal/recorded trade within ECOWAS sub-region
  • Deepening intra-regional payment system
  • Increasing Nigeria’s trade flows within ECOWAS (as the dominant trading partner) from the current level of 8.5% of total non-oil exports
  • Broadening trade and market access for Nigerian goods and services, especially manufactured goods
Promoting the development of SMEs/cross-border traders and facilitating their integration into the formal sector of the economy, and in the process facilitating their access to credit.
Participating Bank:
A bank seeking to benefit from the facility shall be of good financial health as evidenced by its audited accounts for the preceding three years, current market information, and meet criteria set by NEXIM from time to time.
For exporters to be eligible they must satisfy the following:
  • Be duly incorporated/registered in Nigeria as limited liability companies or cooperative societies (manufacturing, trading or service companies)
  • Be existing production units with a minimum of 50% export orientation evidenced by previous and existing export orders or any other evidence acceptable to NEXIM, or
  • Be new units with a minimum of 50% export orientation evidenced by export commitment(s) or any other evidence acceptable to NEXIM


Collateral Requirements
All PB’s are expected to fully secure their lending. The types of security acceptable to NEXIM shall include but not limited to the following:
  • Promissory Notes/Irrevocable Standing Orders for the amount of the facility suitably drawn.
  • Fixed and/or floating charge over all assets of the project and/or promoter’s landed properties with NEXIM’s interest noted..
  • A lien over the proceeds of the export transactions financed with NEXIM’s interest noted.
  • Marketable financial instruments.


Application Documentation:
In exporter seeking to benefit from the facility shall apply to his bank. The PB shall appraise the application in line with its existing lending rules. On approval of the application, the PB forwards a formal loan request to the Managing Director/Chief Executive of NEXIM duly signed by two authorized signatories and supported by the underlisted documents:
  • Certified True Copy of Certificate of Incorporation
  • Exporter’s Audited Statement of Accounts for the past three years (where applicable).
  • Feasibility Study Report for a new project or a Project Brief for an on-going concern.
  • Certified True Copies of Forms CO2 and CO7.
  • True Copy of Proforma Invoice(s) for new/used equipment from a reputable supplier(s).
  • Evidence of Licences/Permits from relevant Agencies, where applicable.
  • Evidence of export commitment or any other arrangement acceptable to NEXIM.
  • Copy of Environmental Impact Assessment Report, where applicable.
  • Any other document that may be required by NEXIM.
Interest Rates
NEXIM shall charge interest at rates to be determined from time to time. Where a default arises a default interest rate shall be charged on the facility or due installments for the period of the default
Interest Payment
Interest payments shall be made on a semi-annual basis in arrears on outstanding balances commencing within six-months from the date of first disbursement. Subsequent payments shall be made on the installment dates of loan balances.