NEXIM Bank Rates
Credit facilities
S/N |
FACILITY TYPE |
MODE OF DISBURSEMENT |
INTEREST RATE BAND |
OTHER FEES |
1. |
Rediscounting & Refinancing Facility [RRF] |
Interbank |
All-in interest rate of 9% |
Nil |
2. |
|
|
9% (when funded through CBN intervention funds i.e., Non-oil Export Stimulation Fund and the Export Development Fund) |
Nil under the EDF and NESF |
13.5% (i.e. MPR+ when funded from the Bank’s existing funds) |
|
Guarantee Facilities
The Bank’s non-funded facilities – Short- and Medium-Term Guarantees are priced as follows;
S/NO |
LINE OF CREDIT [LOC] |
Fees |
Annual Management Fee |
Maximum Guaranteed Amount% |
1. |
Short Term Guarantee |
Up to a Maximum of 2% per Annum |
1% per Annum |
Up to 100% |
2 |
Medium / Long Term Guarantee |
Up to a Maximum of 2% per Annum |
1% per Annum |
Up to 75% |
Foreign Input Facilities / Lines of Credit [LOC]
The LOC’s pricing is risk based which is linked to a 3 months/ 6 months LIBOR reference rate, with the following as the current rate to beneficiary clients per annum.
S/NO |
LINE OF CREDIT[LOC] |
INTEREST RATE |
FACILITY FEE |
ANNUAL MGT FEE |
1. |
AfDB |
5.5% – 7% per Annum |
Nil |
Annual Management: 1% (Negotiable) Advisory Fee: Negotiable, subject to a minimum of N5million. |
2. |
Exim Taiwan |
4% – 4.5% per Annum |
Nil |
Annual Management: 1% (Negotiable) Advisory Fee: Negotiable, subject to a minimum of N5million. |
3. |
Afreximbank |
7% – 8.5% per Annum |
1% Flat upon disbursement |
1% Annually and on Reducing Balance |
Foreign Exchange Services – Commission/Charges
Form M: |
|
Processing |
N3,000 |
CBN e-Platform Maintenance Fee |
N1,500 |
Amendment |
Maximum of N5,000(Negotiable) |
Revalidation/ Extensions |
Maximum of N5,000(Negotiable) |
LC Establishment Commission: |
|
For credits up to 180 days |
Maximum of 1% of face value |
For credits up to 270 days |
Maximum of 1.25% of face value |
For credits up to 360 days (these charges are on the period of validity of the credit) |
Maximum of 1.5% of face value |
Renewal and Extension in the LC value: |
|
Renewals |
Commission on applicable LC establishment |
Extensions |
N5,000 |
Amendment of LC at the instance of the customer |
N2,000 per application |
Pre-Arrival Assessment Report (PAAR) |
N2,500 flat irrespective of payment mode |