NEXIM disburses N30.99bn loans, issues $27.3m guarantees to SMEs

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The Nigerian Export-Import Bank (NEXIM) on Tuesday said that it disbursed N30.99 billion and issued guarantees worth $27.30 million (N4.37 billion) to Nigerian exporters between August 2009 and December 2013.

The bank said the exporters were mainly Small and Medium Enterprises (SME’s) in the period under review.

The bank also said it had generated 21,075 direct employments in the nation’s economy through its financial interventions.

It said that NEXIM had facilitated the generation of about $250.32 million (N40.05 billion) annually in foreign exchange earnings.

“In line with the strategic objective of building a profitable institution with a robust balance sheet, the management of the bank has ensured an appreciable return on the equity investment of the shareholders.

“Accordingly, a dividend for the 2010 financial year was declared and paid, which was the first time since 2003 when dividend was last paid.

“Dividend for 2011 has also been declared and paid while dividend for 2012 will be paid after the approval of the accounts by the CBN.

“This will make it three years of unbroken profitable performance while still fulfilling the bank’s role as a development finance institution,” it said.

The bank said that within the period under review, it achieved a cumulative loan recovery of N1.82 billion while designing and rolling out a robust enterprise-wide risk management framework.

 

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