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Tag: NEXIM

  • Greece, Nexim Bank partner on non-oil export

    Greece, Nexim Bank partner on non-oil export

    The Greek Ambassador to Nigeria, Mr AlekosIkonomopoulos, has indicated interest to partner with Nexim Bank in his country’s quest to develop the nation’s non-oil exports.

    The ambassador, who visited the bank in company of the wife of Mr Ayodeji Ayodele, Nigeria’s Ambassador to Greece, pledged mutual cooperation to boost trade relations between the two countries.

    “We shall create the enabling environment for Greek investors to collaborate with Nigeria in the areas of technology, maritime and agriculture,” he stated.

    Responding, the Managing Director/Chief Executive, NEXIM Bank, Mr Roberts Orya, thanked Mr AlekosIkonomopoulos for taking the initial collaborative step.

    Orya used the opportunity to provide an update on the Sealink Project implementation and maintained that the Sealink is a private sector-driven project and that NEXIM Bank is only facilitating its establishment in line with its mandate, as the Trade Policy Bank of Nigeria to promote and deepen non-oil export trade.

    He said the Sealink Project would promote intra and inter-African trade, thereby fostering regional integration, economic growth and development in the West and Central African sub-regions.

    He said, “Greek investments in Nigeria today exceed US$5 billion, and are growing. They include flour mills and a cement factory in Calabar, Cross River State.”

  • Nexim supports Benue agro sector with N4b

    Nexim supports Benue agro sector with N4b

    The Nigerian Export Import Bank (NEXIM Bank), has  disbursed about N4.14billion in aid of agro-allied industries in Benue State, the Managing Director, Robert Orya, has said.,

    Orya, who made this known during a visit by the Benue State Governor, Samuel Orton, in Abuja,  Benue State posesses huge mineral resources, and should be supported in every form of development.

    He said, “ The projects supported by NEXIM are in three main sectors. Out of the N4.41bn disbursed between 2008 and 2015, 78 per cent, which is N3.21billion was used. Manufacturing took30 per cent, agro processing 42.5 per ent, while services, took 27.5 per cent.

    He said opportunities exist for NEXIM to deepen collaboration in the state, particularly in the area of agro processing to reduce post harvest losses and increase export revenue, adding that this  would also help to create jobs and boost internally generated revenue. Agro processing through value addition to agriculture produce fruit, oranges, mango, cashew.

    “This includes, Vegetables, soya beans, tomatos, hibiscus, cassava, raw yam, cat fish cultivation among others. Creative entertainment industry,solid mineral exploration, etc.

    “From inception to date, the Bank has granted loans, issued guarantees to Nigerian exporters with some engaged in green field project to the tune of N107. 48bn.though supporting the creation of 64,096 direct jobs, in addition to many indirect jobs and facilitating foreign exchange general US$1.36bn annually through the projects supported.”

    The Benue State governor , Dr Ortom said there are lots of opportunities to be harnessed in Benue State, stating that he will work with NEXIM Bank to ensure the state moves forward.

  • NEXIM loans exporters N107.48b in 24 Years

    The Nigerian Export Import Bank (NEXIM) says it has extended  N107.48 billion to exporters in 24 years and helped create 64,096 direct jobs.

    The Managing Director, NEXIM Bank, Mr Robert Orya, gave the facts when he received Benue State Governor Samuel Ortom in his office in Abuja.

    Orya said the bank facilitated foreign exchange generation to the tune of $32.64 billion in 24 years.

    NEXIM Bank’s interventions , Orya said, are targeted at four major sectors of the economy with huge developmental impact, namely manufacturing, agro processing, solid minerals and services.

    Since he assumed office in August 2009, Orya said, NEXIM has disbursed/guaranteed N47.18 billion to exporters. This amount, he said, “has been able to facilitate the creation of 27,917 direct jobs thus generating foreign exchange of $378.51 million annually within the period”.

    In Benue State, Orya said, the bank was ready to support the state  towards industrialisation giving the huge raw materials there.

    “NEXIM has supported various projects in Benue State with total disbursement of N4.14bn. Of this amount, N3.12bn or 78 per cent was disbursed between 2009 and 2015,” he added.

    Ortom said he was at NEXIM to ask the bank’s assistance to industrialise the state “owing to the fact that government alone does not have the needed funding to achieve that objective”.

    Ortom said: “Since the allocations from the Federal Government had been dwindling, there is need to look for other sources of funding projects that would create jobs and reduce the level of poverty among the people.

    “To create jobs and wealth for our people, we need to take advantage of agriculture and solid minerals and NEXIM bank’s role is vital in all of these.”

    However he told Orya that the people of Benue state expect a lot from NEXIM because “exporting raw materials is exporting jobs, opportunities and wealth and we don’t want to engage in such. My government has passion for what you are doing and I will create the conducive environment for you to assist us.”

     

  • Orya elected Honourary President of G-NEXID

    Orya elected Honourary President of G-NEXID

    The Global Network of Export-Import Banks and Development Finance Institutions (G-NEXID) has election of Mr. Roberts Orya, the MD/CEO of the Nigerian Export-Import Bank (NEXIM) as its new ‘Honorary President.’

    The G-NEXID, with a membership of 24 institutions was established in March 2006 at the joint initiative of Exim Bank of India and UNCTAD, as a platform to boost South-South trade and investment relations.

    A statement from NEXIM said the primary objective of the Network is to serve as a channel to bridge the gap between financing of trade and the achievement of the development goals of developing and emerging economies by fostering South-to-South trade flows. Specific to this goal was tackling the difficulties associated with access to trade finance in the fragile markets of the South aimed at spurring and stabilizing economic growth.

    To achieve its objectives, the Network promotes information sharing, building trust and encouraging sharing of common lessons, deals and opportunities, effective practices for entering new markets, financing non-traditional goods and services, and establishing risk-sharing methods for investments among its members towards working together and promoting business development.

  • Adopt new approach to money laundering, says NEXIM

    Nigerian Export-Import Bank (NEXIM) Chief Risk Officer (CRO) Dr. Emmanuel Abolo has said banks and other financial institutions need to adopt a risk-based approach in tackling money laundering and terrorist financing.

    Speaking during the anti-money laundering seminar organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, he said such approach would allow resources to be allocated in the most efficient ways in accordance with priorities so that the greatest risks receive the highest attention.

    He said the alternative approaches are that resources are either applied evenly, so that all financial institutions, customers, products, among others receive equal attention, or that resources are targeted, but on the basis of factors other than the risk assessed.

    He said adopting a risk-based approach implies the adoption of a risk management process for dealing with money laundering and terrorist financing, he said.

    “This process encompasses recognising the existence of the risk(s), undertaking an assessment of the risk(s) and developing strategies to manage and mitigate the identified risks,” he said.

    Abolo said a risk analysis must be performed to determine where the money laundering and terrorist financing risks are the greatest.

    “Countries will need to identify the main vulnerabilities and address them accordingly. Institutions will need to identify higher risk customers, products and services, including delivery channels, and geographical locations. These are not static assessments. They will change over time, depending on how circumstances develop, and how threats evolve,” he said.

    He said the strategies to manage and mitigate the identified money laundering and terrorist financing risks in financial institutions are typically aimed at preventing the activity from occurring through a mixture of deterrence, detection, and record-keeping so as to facilitate investigations.

    “Proportionate procedures should be designed based on assessed risk. Higher risk areas should be subject to enhanced procedures: for the financial services sector, this would include measures such as enhanced customer due diligence checks and enhanced transaction monitoring. It also follows that in instances where risks are low, simplified or reduced controls may be applied.

    “There are no universally accepted methodologies that prescribe the nature and extent of a risk-based approach. However, an effective risk-based approach does involve identifying and categorising money laundering risks and establishing reasonable controls based on risks identified,” he said.

    He said a risk-based approach is not necessarily an easy option, and there may be barriers to overcome when implementing the necessary measures.

    “Some challenges may be inherent to the use of the risk-based approach. Others may stem from the difficulties in making the transition to a risk-based system. A number of challenges, however, can also be seen as offering opportunities to implement a more effective system. The risk-based approach is challenging to both public and private sector entities. Such an approach requires resources and expertise to gather and interpret information on risks, both at the country and institutional levels, to develop procedures and systems and to train personnel,” he said.

     

    He advised that sound and well-trained judgment be exercised in the implementation within the institution and its subcomponents of such procedures, and systems. It will certainly lead to a greater diversity in practice which should lead to innovations and improved compliance.

    “Implementing a risk-based approach requires that financial institutions have a good understanding of the risks and are able to exercise sound judgment.  This requires the building of expertise within financial institutions, including for example, through training, recruitment, taking professional advice and ‘learning by doing’. The process will always benefit from information sharing by competent authorities. The provision of good practice guidance is also valuable,” he said.

     

  • NEXIM CEO for non-oil export conference on Thursday

    NEXIM CEO for non-oil export conference on Thursday

    THE Managing Director/Chief Executive  Officer (CEO), Nigerian Export-Import Bank (NEXIM ), Mr. Roberts Orya, is the Distinguished Guest Speaker at the Nigeria Non-Oil Export & Investment Development Conference billed for Thursday, at Protea Hotel, Ikeja, Lagos.

    The theme of the conference is: Nigeria: Beyond oil & gas.

    The event would be chaired by Dr. Akin Ogunbiyi, the Group Managing Director/CEO, Mutual Benefits Assurance Plc.

    In a statement, Publisher/Editor-in-Chief, Business Journal magazine, Prince Cookey, said the major objectives of the conference is to provide a platform for stakeholders in the non-oil sector and investments to review the progress made over the years to stimulate non-oil export in the country, attract Foreign Direct Investment (FDI) into the economy and generate ideas for the non-oil roadmap for Nigeria.

    He said the fora would also create and sustain investor awareness/confidence on non-oil sector development, showcase non-oil export potential of the country to local and foreign investors, showcase investment opportunities in Nigeria towards attracting robust local and FDI into the economy and grant unique opportunity for operators in the non-oil sector to showcase their products and services to the market.

    Cookey listed some of the topics at the conference to include strategies for non-oil sector growth: The NEXIM Perspective, strategies for industrial growth and export, non-oil export: Key to sustainable sconomic growth; will export processing zones change Nigeria’s economic story?, the drive for Foreign Direct Investment: The NIPC perspective; maximising non-oil potential of Nigeria: An operator’s perspective and the role of banks in growth of non-oil sector in Nigeria.

  • NEXIM, Heritage, Oyo, others for London business conference

    ALL roads lead to Royal National Hotel, Bedford Way (Russell Square, London WC1H 0DG from September 17-18, 2014, as the Nigerian London Business Forum (NILOBF) UK, puts machinery in motion to organise the Greater London Business Conference on Nigeria.

    Among the top players expected at the conference include Nigeria Export-Import Bank (NEXIM), Heritage Bank, Oyo State in South-west Nigeria and Niger State in the North-central Nigeria, 37 prospective UK companies, to mention just a few.

    Justifying the need for the conference which is in its third edition, in a release made available to The Nation, the organisers said: “We are looking to meet with Nigerian business leaders and entrepreneurs in this suggestively important conference on Nigeria. The country has remained an important market with huge investment and trading opportunities for the United Kingdom.”

    The Nigerian London Business Forum is an established and respected business chamber trade association with strong voice on trade and investment promotion between the United Kingdom and Nigeria.

    While noting the significant growth in the country’s population compared to 10-15 years ago, the organisers emphasised that such population growth has necessitated  the need for significant infrastructural, social and economic development such as transportation, power and energy, oil and gas, communication, construction, education, agriculture, health, manufacturing and efficient financial services.

    According to the organsiers, “From mid-July when registration began for participation in this conference by both British and Nigerian companies and relevant government agencies, 33 Nigerian companies drawn from their local chambers of commerce and two investment driven states government in Nigeria whose delegation or entourage of relevant agencies/ministries to be led by their executive governors are confirmed for this great event, and many more are still on the line to confirm their participation. British companies through support provided by the London Chamber of Commerce and Industry (LCCI) whose members are given complimentary attendance, are interestingly signing up for the conference.

    “However, not to exclude anyone, the Board of Directors of Nigerian London Business Forum is happy to further consider subsidizing conference attendance fee or no fee at all to any credible British owned company looking to expand or invest into Nigeria as part of their expansion plans.

    “Sectors of business engagement of these companies range from agriculture, transportation, ICT, logistics, finance, manufacturing, health, security, shipping, infrastructure, construction, education/training, food and drink, to solid minerals development, power& energy, oil and gas, real estate, hospitality services, banking and project finance/development, import and export, business services consulting, insurance, professional services, automobile, communication, aviation, shipping and ports, among others.”

    An official of Oyo State government, while giving his imprimatur of support for the conference, said: “On behalf of His Excellency; Sen. Abiola Ajimobi, The Executive Governor of Oyo State, we thank you so much for counting His Excellency worthy of the Award of Honorary Member of NILOBF. It is indeed a known fact in Nigeria that he has opened up the doors of Oyo State for Business to both local and foreign investors and his commitment to attracting foreign investors has brought about economic boom in Oyo State since his assumed Office three and half years ago. In addition, if your programme can accommodate a paper presentation by His Excellency on the second day of the event, we would appreciate this before the citation and investiture of Sen. Abiola Ajimobi. The presentation will be a power point presentation on the Investment Opportunities in the State. The Executive Governor of Oyo State will be accompanied by some commissioners, special advisers and his aides.”

  • COSON tasks Okonjo Iweala on copyright levy scheme

    COSON tasks Okonjo Iweala on copyright levy scheme

    THE Copyright Society of Nigeria (COSON) has called on the Minister of Finance, Dr. Ngozi Okonjo Iweala, to activate the copyright Private Copy Levy scheme.

    In his address during the celebration of the annual No Music Day on Monday, September 1, the COSON chairman, Chief Tony Okoroji, called on the Minister to immediately and personally see to the Private Copy Levy Scheme, which has remained trapped in the Directorate of Fiscal Policy in her ministry for several months.

    “The Private Copy Levy Scheme, which for many years has been in operation in many countries around the world, including some in our sub region, is intended to provide the badly needed cushion for the stakeholders in the creative industry suffering from the unbridled copying and downloading of creative materials made possible by modern technology,” Okoroji said.

    Okoroji also called on President Goodluck Jonathan to direct the Bank of Industries (BOI), the Nigerian Export & Import Bank (NEXIM), the Federal Ministry of Trade & Investments and everyone connected with the Growth in Employment in States Fund (GEMS) and the Entertainment Industry Intervention Fund announced by President Jonathan three years ago to do what is necessary to make sure that the funds begin to have real impact on the industry, create the badly needed employment and reduce the restiveness in Nigeria.

    “We wish to state that both the Growth in Employment in States Fund (GEMS) and the Entertainment Industry Intervention Fund announced by President Goodluck Jonathan three years ago, which created so much initial buzz, have not been the catalysts they were intended to be,” said Chief Okoroji.

  • NEXIM grants N5b intervention fund to non-oil sector

    NEXIM grants N5b intervention fund to non-oil sector

    The Nigerian Export and Import Bank (NEXIM) said it provided N5billion intervention to some key sectors of the economy over the past four years.

    Its Managing Director, Mr Robert Orya, made this known to the News Agency of Nigeria (NAN) in Abuja.

    He said the bank created wealth and alleviated poverty in the last four years, adding that it generated 24,000 jobs.

    He reiterated the determination of the bank to ensure that it attracted N51.2 billion yearly.

    Giving a breakdown, he said the bank gave N35.6 billion intervention to non-oil sector and guaranteed $27.3 million (about N4.3 billion) to beneficiaries in the sectors.

    “If you convert these two amounts of money, it would be around N39.9 billion and that has created a lot of jobs for Nigeria.

    “This is capable of generating an estimated foreign exchange of $320.12 million  annually,” he said.

    He continued: “We decide to choose manufacturing, agro-processes, solid minerals and services, which include tourism, transportation and entertainment industry.

    “Due to paucity of funds, the bank decides to choose four strategic sectors that we know can generate employment and alleviate poverty,’’ he said.

    He said the best way to develop the economy was to give the necessary fillip to the Small and Medium Enterprises’ (SMEs) sectors.

    “In view of this, the bank has put in place structures to enhance the growth of SMEs in the country.

    “From day one, I said if we want to move our economy forward considering its structure, the emphasis should be on the development of SMEs,” he said.

    Orya said one of the things the bank did was to set up business development services to assist SMEs that had good idea, but did not know how to put them in a bankable form.

    He said over 90 per cent of the intervention made was for the SMEs because that was where small jobs could be created.

    He said it was the SMEs that could make meaningful impact on rural dwellers and make them less dependent.

    According to him, the bank focuses mainly on SMEs that have element of export; NEXIM Bank is focused on export-oriented SMEs.

  • Nexim Bank denies receiving stabilization fund

    Nexim Bank denies receiving stabilization fund

    Nigerian Export Import Bank (NEXIM) has denied receiving N200 billion stabilization fund from the Central Bank of Nigeria.

    A statement issued by the bank said “the bank has not in its over 23 years of existence received any stabilization fund from the CBN or any agency of government.”

    NEXIM noted it has a called-up share capital of N50 billion equally contributed by the CBN and the Ministry of Finance.

    The bank described the call by the Conference of Nigerian Political Parties (CNPP)’s Secretary General, Chief Willy Ezugwu, for the suspension of its Managing Director, Mr. Roberts Orya, for alleged dereliction of duty, gross abuse of office and misapplication of the N200 billion stabilisation fund as “false claims and a product of an obvious smear campaign intended to malign the impressive progress it has recorded.”