The Managing Director/Chief Executive, Nigerian Export-Import Bank (NEXIM), Mr. Robert Orya yesterday disclosed that a total of N30.93 billion and credit guarantees worth $27.30 million had been disbursed to Nigerian exporters to boost non-oil exports between August 2009 and December 2013 . Giving an update of the bank's activities to members of the House Committee on Banking and Currency who were on an oversight function to the institution in Abuja , Orya also disclosed that about N368.78 million had been realised as profit between January and November this year. He said this year alone, a total of N9.38 billion had been disbursed to targeted sectors of the economy including manufacturing, agro-allied, solid minerals, and services sectors. A breakdown of the overall disbursement showed that about N13.17 billion went to the manufacturing segment while agro-processing got about N7.4 billion as well as solid minerals which accounted for about N2.5 billion. The services industry also accounted for about N11.9 billion of the credits. Orya said a total of 21,042 direct jobs and several other indirect employments was also generated and sustained through the bank's operational interventions between 2009 till date. Within the period under review, he added that the bank had facilitated the generation of an estimated $283.82 million in foreign exchange earnings, with $75.3 million estimated for between January and December 2013 . He added that the sum of N1.82 billion had so far been recovered from its non-performing loan (NPL) portfolio till date. However, he said the bank was constrained by low level of inter- bank funding operations, unpaid share capital subscription of N9.90 billion by the Federal Ministry of Finance , one of its major shareholders, as well as lack of access to intervention funds. On his part, the Chairman of the committee, Mr. Chukwudi Onyereri commended the NEXIM boss for significantly improving the fortunes of the bank. The Lawmaker disclosed that the current management inherited about N5.4 billion loss in 2009. NEXIM Bank was established by Act 38 of 1991 as an Export Credit Agency (ECA) with a share capital of N50 billion held equally by the Federal Ministry of Finance Incorporated and the Central Bank of Nigeria . The bank provides short and medium term loans to Nigerian exporters. It also provides short term guarantees for loans granted by Nigerian Banks to exporters.
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