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NEXIM Bank scoops top industry recognition

27 January 2014, 19:07

Lagos- The Nigerian Export-Import (NEXIM) Bank said the Association of African Development Finance Institutions (AADFI) has rated it the best-performing development finance firm in the continent.

The decision was an outcome of the recent annual AADFI Chief Executives Forum of African Development Banks and Finance Institutions held in Kenya.

“In the light of your institution’s rating as “Best Performing DFI”, we are pleased, on behalf of the Chairman of the Association, to extend our warm congratulations to your Board of Directors and Management Team on this record performance, and urge you not to relent in your effort at entrenching best practices in the operations of your institution as you continue to sustain your development financing mandate,” AADFI stated in a letter.

The Managing Director of NEXIM Bank, Roberts Orya, hailed the recognition.

“The current rating of NEXIM as “Best Performing African DFI” from a negative rating in 2011 by AADFI is a clear testimony that the Corporate Transformation initiative we embarked upon since August 2009 has largely succeeded.

“The Bank is now better repositioned to deliver on its mandate through more capital injection and other institutional support from our two Shareholders - CBN and Federal Ministry of Finance in terms of supervisory, regulatory oversight and guidance functions,” he said.

Between August 2009 and December 2013, NEXIM Bank has supported Nigerian exporters, mainly Small and Medium Enterprises (SMEs) to the tune of N30.99 billion (about $186 million) and issued guarantees valued at $27.3 million.

In terms of developmental impact to the Nigerian economy, the bank has through its funding interventions generated/sustained over 21 075 direct jobs, in addition to many indirect jobs and facilitated the generation of estimated $250.32 million annually in foreign exchange earnings.

-  CAJ

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