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The Nigerian Export-Import Bank established by Act 38 of 1991 has the mandate to provide export credit and risk bearing facilities, as well as, trade information and export advisory services to facilitate exports Nigerian goods and services.

In pursuance of its specific mandate of facilitating services exports and to support Government’s policy initiatives targeted at supporting the structured growth and development of the entertainment sector, the Bank has designed a funding intervention targeted at ensuring access to finance towards sustainable development of the industry.


The Creative arts & Entertainment Industry Facility introduced by the Nigerian Export – Import Bank is designed to achieve the following strategic objectives:
  • Harnessing Nigerian cultural diversity and talents in a structured manner to ensure the orderly growth and development and the conservation of the nation’s cultural heritage,
  • Enhancing the abilities of players in the entertainment sector to collectively benefit from Government support programme for the industry
  • Improving quality at all stages of the value chain from production to post-production and retail distribution, thereby deepening creative entertainment value chain and diversifying revenue streams in the industry.
  • Promoting the creation of a viable and sustainable industry, thereby enhancing employment generation and wealth creation potentials of the sector and performance of small and growing businesses in the country;
  • Broadening Nigerian export basket through formal and non traditional exports of Intellectual Property products and services;
  • Attracting investment capital to the industry towards the development of modern studios and/or broadcast/media facilities;

a) Company
Any Company in Nigeria can benefit from the facility provided that it is legally registered / incorporated in Nigeria,
  • It operates in the entertainment and creative industry,
  • It is not owned by government (federal, State or local),
  • It is not an oligarch business interest that may interfere with content policy for its own interests
a) Industry Value Chains
Funding under this facility covers all segments of the creative arts / entertainment industry and across the value chains of the following activities;
  • Music (Production & Distribution)
  • Film (Production, Distribution, Exhibition)
  • Television (Production, Distribution, Exhibition)
  • Radio (Production & Distribution)
  • Fashion (Production, Distribution, Exhibition)
  • Distribution / Exhibition Infrastructure and Platforms
  • Development of production platforms and facilities
  • Acquisition of hi-tech production equipment and ancillary facilities
Facility Tenor
Up to 7 years, inclusive of a moratorium period depending on transaction / activity
Documentation Checklist Guide
The documentation requirement under the facility shall have basic loan facility documentation comprising some of the under listed as may be appropriate;
  • Letter of Application;
  • Company Incorporation Documents;
  • Feasibility Report / Business Plan;
  • Valuation Report on collateral to be pledged
  • Land and Building
  • Equipment
  • Intellectual Property
  • Past Audited Accounts and most recent Management Account, where the last audited account is more than 3 months old or Statement of Affairs
  • Evidence of marketing / distribution arrangements
  • Pro-forma Invoice(s), where applicable
  • Bills of Quantity / Production Budget, where applicable

  • For project related financing, interest payments shall be made in the currency of disbursement and on a semi-annual basis in arrears on outstanding balances commencing within six-months from the date of first disbursement or as may be determined at the time of disbursement. Subsequent payments shall be made on the installment dates of loan balances.

    • Commitment fee: A commitment fee of 0.5% p.a. shall be charged on the undisbursed balance of a direct loan. This fee begins to accrue 60 days after loan signature and shall be synchronized with interest payments;
    • Administrative fee: A once only fee of 1.0% flat shall be charged calculated on the loan amount and payable on acceptance of loan offer. For short term facilities of less than 180 days, the fee shall be 0.5% flat.
    • Legal fee: Where the service of external legal counsel is used in the preparation of loan documents, borrower will be required to pay the legal fees of 0.5% calculated on the loan amount;
    • Others: The borrower would be obliged to pay the charges with respect to monitoring visits, stamp duty, other duties or taxes payable in relation to the loan.

    • NEXIM shall disburse approved funds upon fulfillment of all conditions precedent to draw down;
    • For approvals that involve importation, NEXIM shall establish the Letter of Credit for the transaction;
    • In the case of importation of equipment, NEXIM reserves the right to do witness testing or engage the services of a consultant to do so on its behalf, at the expense of the beneficiary project, before shipment; and
    • For locally sourced items, disbursement shall be made directly to the supplier of the item.
    NEXIM may consider repayment terms of up to three (3) years from the date of initial disbursement for project related financing. For short-term facilities, repayment terms shall be a maximum of 365 days, while repayments for letters of credit confirmation/refinancing shall be a maximum of 360 days.For project related financing, payments will normally be made in a set number of equal and consecutive installments typically within six months from the expiration date of the moratorium period. After the moratorium period, installments of loan principal and repayments of interest would be synchronized.
    All principal repayments shall be in the currency of disbursement and in accordance with the repayment schedule established at the time the loan is granted.In case of default on any facility or due loan instalments,
    NEXIM shall charge a penal rate of 4% p.a. for short term facilities and 1% p.a. for medium and long term facilities, above the rate at which the initial loan was given and for the period of the default. All payments received shall be applied to defray interest charges first before application to principal amounts outstanding.
    • NEXIM may request for an acceptable technical report or warranty on the equipment acquired by exporters;
    • No new equipment should be purchased with the proceeds of this facility from sources other than the manufacturers or major/accredited distributors;
    • Where discrepancies are noticed between information provided on the Proforma-Invoice and what is physically delivered, NEXIM shall review the entire transaction and may recall the facility immediately;
    • NEXIM shall on an annual basis set limits for borrowers;
    • Where necessary an extension of the tenor of the facility or due loan installments may be granted;
    • Where the funds are used for purposes other than for which they were granted, or other forms of abuse such as false declaration etc, NEXIM shall immediately recall, and written report will be made to the Central Bank of Nigeria accordingly; NEXIM shall monitor the utilisation of funds disbursed;
    • NEXIM shall undertake regular project visits to ensure adherence to the conditions of the loan;
    • Where applicable, NEXIM shall require the domiciliation of export proceeds by the exporter; and
    • For loans with tenure of five years and above, NEXIM shall be represented on the Board of the Company throughout the duration of loan.