Finance Minister Lauds NEXIM Bank For Profitability, Intra-Africa Trade Initiatives

The Minister of Finance, Budget and National Planning, Dr Mrs Zainab Shamsuna Ahmed says the Management of the Nigeria Export Import (NEXIM) Bank has returned the bank to profitability, with significant reduction in number of non-performing loans.

Principal Information Officer in the ministry, Mr. Tijjani Mohammed who confirmed the development in a statement to our correspondent on Friday, said the Minister gave the commendation when she inaugurated two newly appointed Non Executive Directors into the Board of the Bank, in her office.

The minister noted that the bank’s return to profitability and reduction in her non – performing loans had impacted positively in the bank’s statutory mandate.

While reiterating that NEXIM Bank was established to provide export credit guarantee and export credit insurance facilities to its client in support of export, Mrs. Ahmed said she was delighted with the banks Intra – Africa Trade Initiatives in readiness of the African Continental Free Trade Agreement, AFCTFTA.

According to the Finance Minister, the overriding objective of government in setting up NEXIM Bank was the desire to make the bank a major player in the Nigerian non-oil export sector and other economic revitalization programmes, adding that the progress on the performance of the bank on the assigned Ministerial Mandate as reported at the Inaugural Steering Committee Meeting held on Monday was commendable.

The minister commended President Muhammadu Buhari appointing persons who are worthy of serving on the board, stating that the appointees were joining the board with diverse private sector background, and assured the Board of the support of the ministry of finance.

Permanent Secretary in the ministry, Aliyu Ahmed congratulated the new appointees, stating that it was customary for officials appointed to high and sensitive positions to be formally inaugurated, signifying their assumption of office.

Responding on behalf of the appointees, the Managing Director, NEXIIM Bank, Abba Bello, said he was delighted that the new appointees were coming to the board with vast and relevant experiences and would add value to the bank. He said the continued support of the Ministry would enable NEXIM bank deliver on her mandate.

The two board members inaugurated were Mallam Kabiru Hassan and Chief Ede Dafinone.

Mallam Hassan has been in the business of commodity sourcing, trading and distribution since 2012, after a stint with Union Bank while Chief Dafinone has been in the private sector. He is the current Chairman of Manufacturers Association of Nigeria Export Promotion Group. He is also a member of the National Council of Manufacturers Association of Nigeria.

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