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Nigerian Export-Import Bank
The Nigerian Export-Import Bank (NEXIM) is an export credit agency in Nigeria, established in 1991. In its function, NEXIM focuses on the development and expansion of the non-oil sectors of the Nigerian economy, with a view to reducing the country's over-reliance on oil exports. Mission The NEXIM mission is to increase the rate of export of non-oil product for both small, medium, and large enterprises in all sectors of the economy by providing funds, risk-bearing programs, and advisory services in line with government trade policy. Location The headquarters of Nexim are located at NEXIM House, Central Business District, Garki, Abuja, Nigeria. Nexim House is bordered by Kur Mohammed Avenue to the north, Ahmadu Bello Way to the east and Constitution Avenue to the south. Its geographical coordinates are: 09°03'44.0"N, 07°29'37.0"E (Latitude: 09.062222; Longitude:07.493611). Overview NEXIM was established in 1991 as a joint venture between the Central Bank of Nigeria (CBN) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Export Credit Agency
An export credit agency (known in trade finance as an ECA) or investment insurance agency is a private or quasi-governmental institution that acts as an intermediary between national governments and exporters to issue export insurance solutions and guarantees for financing. The financing can take the form of credits (financial support) or credit insurance and guarantees (pure cover) or both, depending on the mandate the ECA has been given by its government. ECAs can also offer credit or cover on their own account. This does not differ from normal banking activities. Some agencies are government-sponsored, others private, and others a combination of the two. ECAs currently finance or underwrite about US$430 billion of business activity abroad – about US$55 billion of which goes towards project finance in developing countries – and provide US$14 billion of insurance for new foreign direct investment, dwarfing all other official sources combined (such as the World Bank and Regio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Ministry Of Finance (Nigeria)
The Federal Ministry of Finance is the government body that manages the finances of the Federal Government of Nigeria, including managing, controlling and monitoring federal revenues and expenditures. Bureaucratic Leadership A senior civil servant acts as Permanent Secretary of the minister, assisting the politically appointed Minister of Finance, who is a member of the President's cabinet. The Federal Ministry of Finance is led by the Honourable Minister of Finance and Coordinating Minister of the Economy, who serves as the chief executive officer. This role involves engaging with the public, both domestically and internationally. The Minister interacts with the ministry's bureaucracy through the Permanent Secretary, who oversees financial management as the Chief Accounting Officer. The Permanent Secretary acts as a gateway for official documents intended for the Minister, verifying their legitimacy and propriety before transmission. This ensures that all documents presente ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1991
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Export Credit Agencies
An export credit agency (known in trade finance as an ECA) or investment insurance agency is a private or quasi-governmental institution that acts as an intermediary between national governments and exporters to issue export insurance solutions and guarantees for financing. The financing can take the form of Credit (finance), credits (financial support) or credit insurance and guarantees (pure cover) or both, depending on the mandate the ECA has been given by its government. ECAs can also offer credit or cover on their own account. This does not differ from normal banking activities. Some agencies are government-sponsored, others private, and others a combination of the two. ECAs currently finance or underwrite about US$430 billion of business activity abroad – about US$55 billion of which goes towards project finance in developing countries – and provide US$14 billion of insurance for new foreign direct investment, dwarfing all other official sources combined (such as the Wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ECOWAS
The Economic Community of West African States (ECOWAS; also known as CEDEAO in French and Portuguese) is a regional political and economic union of twelve countries of West Africa. Collectively, the present and former members comprise an area of and have an estimated population of over 424.34 million. Considered one of the pillar regional blocs of the continent-wide African Economic Community (AEC), the stated goal of ECOWAS is to achieve "collective self-sufficiency" for its member states by creating a single large trade bloc by building a full economic and trading union. Additionally, ECOWAS aims to raise living standards and promote economic development. The union was established on 28 May 1975, with the signing of the Treaty of Lagos, with its stated mission to promote economic integration across the region. A revised version of the treaty was agreed and signed on 24 July 1993 in Cotonou, the largest city in Benin. ECOWAS's published principles include equality and int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Nigeria
The economy of Nigeria is a middle-income, mixed economy and emerging market with expanding manufacturing, financial, service, communications, technology, and entertainment sectors. It is ranked as the 53rd-largest economy in the world in terms of nominal GDP, the second largest in Africa in terms of purchasing power parity, and the 27th-largest in terms of purchasing power parity. The country's re-emergent manufacturing sector became the largest on the continent in 2013, and it produces a large proportion of goods and services for the region of West Africa. Nigeria's debt-to-GDP ratio was 36.63% in 2021 according to the IMF. Although oil revenues contributed 2/3 of state revenues, oil only contributes about 9% to the GDP. Nigeria produces about 2.7% of the world's oil supply. Although the petroleum sector is important, as Nigeria's government revenues still heavily rely on this sector, it remains a small part of the country's overall economy. The largely subsistence agricu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Banks In Nigeria
This is a list of commercial banks and other credit institutions with in Nigeria, as updated late 2024 by the Central Bank of Nigeria. List of commercial banks Development Finance Institutions * Bank of Agriculture * Bank of Industry * Development Bank of Nigeria * Federal Mortgage Bank of Nigeria * Nigerian Export-Import Bank * The Infrastructure Bank Financial holding companies * Access Holdings PLC, parent of Access Bank Group * FBN Holdings PLC, parent of First Bank of Nigeria Group * FCMB Group PLC, parent of First City Monument Bank * FSDH Holding Company, parent of FSDH Merchant Bank * GTB Holding Company, parent of GTCO Group * Stanbic IBTC Holdings PLC, intermediate holding of Standard Bank Group * Sterling Financial Holdings Ltd, parent of Sterling Bank Non-interest banks * Alternative Bank Limited * Jaiz Bank Plc * Lotus Bank Ltd * TAJBank Microfinance banks ''N.B. This section was not updated per the full CBN list of 2024.'' See also * Economy o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Export Credit Insurance
Trade credit insurance, business credit insurance, export credit insurance, or credit insurance is a type of insurance policy and a risk management product offered by private insurance companies and governmental export credit agencies to business entities wishing to protect their accounts receivable from loss due to credit risks such as protracted default, insolvency or bankruptcy. This insurance product is a type of property and casualty insurance, and should not be confused with such products as credit life or credit disability insurance, which individuals obtain to protect against the risk of loss of income needed to pay debts. Trade credit insurance can include a component of political risk insurance which is offered by the same insurers to insure the risk of non-payment by foreign buyers due to currency issues, political unrest, expropriation etc. This points to the major role trade credit insurance plays in facilitating international trade. Trade credit is offered by vendor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Export Credit Guarantee
An export credit agency (known in trade finance as an ECA) or investment insurance agency is a private or quasi-governmental institution that acts as an intermediary between national governments and exporters to issue export insurance solutions and guarantees for financing. The financing can take the form of credits (financial support) or credit insurance and guarantees (pure cover) or both, depending on the mandate the ECA has been given by its government. ECAs can also offer credit or cover on their own account. This does not differ from normal banking activities. Some agencies are government-sponsored, others private, and others a combination of the two. ECAs currently finance or underwrite about US$430 billion of business activity abroad – about US$55 billion of which goes towards project finance in developing countries – and provide US$14 billion of insurance for new foreign direct investment, dwarfing all other official sources combined (such as the World Bank and Regio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joint Venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly emerging market; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities.' Most joint ventures are incorporated, although some, as in the oil and gas industry, are "unincorporated" joint ventures that mimic a corporate entity. With individuals, when two or more persons come together to form a temporary partnership for the purpose of carrying out a particular project, such partnership can also be called a joint venture where the parties are "''co-venturers''". A joint venture can take the form of a business. It can also take the form of a project or asset JV, created for the purpose of pursuing one specific project, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Garki, Abuja
Abuja (; , ) is the capital city of the Federal Republic of Nigeria, strategically situated at the geographic midpoint of the country within the Federal Capital Territory (FCT). As the seat of the Federal Government of Nigeria, it hosts key national institutions, landmarks, and buildings spread across its over 50 districts. It replaced Lagos (the most populous city in Nigeria) as the capital on 12 December 1991. Abuja's geography is defined by Aso Rock, a monolith left by water erosion. The Presidential Complex, National Assembly, Supreme Court and much of the city extends to the south of the rock. Zuma Rock, a monolith, lies just north of the city on the expressway to Kaduna. At the 2006 census, the city of Abuja had a population of 776,298 and 179,674 households making it one of the ten most populous cities in Nigeria (eighth place in 2006). According to the United Nations, Abuja grew by 139.7% between 2000 and 2010, making it the fastest-growing city in the world ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
