NEXIM’S PRODUCTS & SERVICES – NEW EXPORT INTERVENTION SCHEMES
As part of efforts to arrest the declining trend in export credits and boost investments in the non-oil export sector, the CBN recently approved two funding schemes and appointed NEXIM as the Fund Manager:
- N500 Billion Export Stimulation Facility (ESF) – Newly Introduced
- Tenor of up to 10 years for project finance facility inclusive of moratorium of 2 years.
- Working Capital / Stocking facility shall be for a maximum tenor of one year with the option of roll-over not exceeding twice
- Maximum interest rate of 7.5% per annum for facilities with a tenor of up to three (3) and (9%) per annum for facilities with tenor of over three (3) years.
- N50 Billion Export Rediscounting & Refinancing Facility (RRF) – Enhancement of existing N1.225 Billion RRF being operated by NEXIM from inception in 1991
- It is a rediscounting & refinancing window available to Commercial Banks for a maximum tenure of 360 days.
- Export bills / transactions shall be discounted / refinanced at an “all-in” rate of a maximum of 6% per annum with the Bank allowed a maximum spread of 3%.
The Bank’s facilities are available to any registered, creditworthy export Company/Cooperative Society, incorporated in Nigeria, registered with the Nigerian Export Promotion Council (NEPC).
- Application Form
- Certified True Copy of Certificate of Incorporation, Certified True copies of CO2 & CO7; and Memorandum & Articles of Association;
- Current three year tax clearance;
- Three (3) year Audited Accounts and most recent management accounts, where applicable
- Feasibility Study/Business Plan including Projected Cash flow, P&L and
- Board Resolution Authorizing Company to borrow and Letter of Authorization for NEXIM to seek information on Company;
- Registration with NEPC;
- Proforma Invoice; Export Contract or MOU and Evidence of past export(s) if any;
- Valuation Report of the proposed security;
Plot 975, Cadastral Zone A0,
Central Business District,
Visit our agric finance page at; www.agronewsng.com
Call; 08035044364, 07031097516