The
CBN stated this in a circular entitled ‘Circular to All Deposit Money Banks and
Development Finance Institutions on the Commencement of the Non-Oil Exports
Stimulation Facility (NESF).
It would
be recalled that the loan facility proposed two years ago was created for local
manufacturers and exporters with the aim of diversifying the revenue base of
the economy and expediting growth and development of the non-oil export sector.
According
to the Central Bank of Nigeria, “The Non-oil Export
Stimulation Facility (NESF) has been introduced to engender growth in the
non-oil sector of the economy and foreign reserve accretion. The facility will
help redress the declining export financing and reposition the sector to
increase its contribution to economic development.
“We hereby inform all participating financial institutions that
implementation of the NESF has commenced. The following shall be eligible to
participate under the facility: Deposit Money banks and development Finance
Institutions (DFI).”
According
to the circular, the loan facility will have a tenor of up to 10 years, not
exceeding the 31st December, 2027; while, the principal and the 7 percent
annual interest will be repaid quarterly and in accordance with the repayment
schedule.
Have you heard this? Many
Nigerian exporters have been defrauded of huge amount of money in the process
of exporting commodities to foreign countries. Do you know why? They were not
trained on export operations, management, documentations and the best methods
of payment in export trade. This is terrible!!! Nigerians cannot continue to
lose money to foreigners in the course of export business. Exporters, why don’t
you get a practical manual that teaches the stages of export trade from
processing and packaging of commodities to receipt of payment by the foreign
buyers. It teaches export operations, export management, export documentations
and methods of payment in export trade? It is a contemporary step-by-step guide
to export trade. It tells all the contemporary dynamics in export trade. To get
it, click on the link below:
Hmmm!!! Folks, have you ever
imagined how the financial status of your firm will be when more than 20,000
CEOs and other key decision makers of blue-chip corporations pay for your
products and services or even give you very juicy deals. The link below will
tell you more: http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html
No comments:
Post a Comment