Two New Fa­cil­i­ties for Nige­ria’s Non-oil Ex­ports Growth

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

Financial Nigeria Magazine - - Editor’s Last Note -

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 trans­ac­tion spe­cific ba­sis.

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