Sunday, 26 March 2017

TWO NEW FACILITIES FOR NIGERIA’S NON-OIL EXPORT GROWTH FROM THE CENTRAL BANK OF NIGERIA

-N500 billion Export Stimulating Facility
-N50 billion Export Rediscounting and Re-financing Facility

The Central Bank of Nigeria (CBN) has established a N500 billion Export Stimulation Fund (ESF); and a N50 billion Export Rediscounting and Re-financing Facility (RRF), which are being managed by the Nigerian Export-Import Bank (NEXIM) to strengthen the non-oil sector and enhance its contribution to export revenue generation and economic development.

These facilities are available to all eligible non-oil export-oriented enterprises; and can be accessed through Commercial Banks and Development Finance Institutions, at “all-in interest rate” of 9% per annum, and a single maximum limit of up to N5 billion for the ESF; and “all-in interest rate” of 6% per annum for the RRF on transacting specific basis.

NIGERIAN EXPORT-IMPORT BANK
NEXIM HOUSE
Plot 975, Cadastral Zone AO, Central Business District,
PMB 276, Garki, Abuja, Nigeria
+23494603630-9, +23494603638