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NEXIM Bank pledges to support CBN on financing schemes for non-oil sector development

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Kano –  The Nigeria Export-Import Bank (NEXIM) has expressed readiness to embrace the Central Bank of Nigeria’s financing schemes in support of the non-oil export sector.

The Acting Managing Director of the bank, Alhaji Bashir Wali, gave the assurance at a one day forum organised for stakeholders in Kano on Wednesday.
He said the forum was organised to expose the guidelines to all exporters, prospective exporters, products associations, bankers and other stakeholders for effective implementation of the schemes.

“Given the negative impact of the current low oil prices and scarcity of foreign exchange on the macro-economic indices and external balance, “the need to urgently commence the implementation of the intervention schemes cannot be over- emphasised.”, he said.

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He recalled that a Non-Oil Export Stimulation Conference was held on Jan. 29,where strategic inputs were received from stakeholders to facilitate the review of policies and strategies towards additional financing and policy support programmes.

According to him, the conference is aimed at encouraging and stimulating additional investments in the non-oil export sector.

He said the Central Bank of Nigeria and the Nigerian Export Import Bank were committed to the effective implementation of the schemes for the development of the country

The Controller, CBN Kano, Hajiya Amina Abubakar, said the bank had introduced the financing schemes for the sole aim of lending credence to the non-oil export sector.
She called for effective implementation of the schemes in line with the indices of the speedy growth of a promising developing economy in the country.
“NEXIM Bank has a spectacular role to play in complementing the effort of the CBN on granting the N500 billion Export Stimulation Facility and the N50 billion Export Rediscounting and Refinancing Facility.”,she added. (NAN).

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