REDUCTION IN NON-PERFORMING LOANS: Finance Minister Commends NEXIM
The Management of Nigeria Export – Import Bank (NEXIM), has been commended for returning the bank to profitability and reduction in non- performing loans.
The Minister of Finance, Budget and National Planning, Dr (Mrs) Zainab Shamsuna Ahmed gave the commendation, as 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 bank’s Intra–African Trade Initiatives in readiness of the African Continental Free Trade Agreement, (AfCFTA).
She noted that the overriding objective of Government in setting up NEXIM Bank was the desire to make the bank a significant player in the Nigerian non- oil export sector and other economic revitalization programmes, stressing that the progress on the performance of the bank on the assigned Ministerial Mandate as reported at the Inaugural Steering Committee Meeting held, last Monday was commendable.
Ahmed commended the President for finding the appointees worthy to serve on the board, stating that the appointees were joining the board with diverse private sector backgrounds and assured the board of her Ministry’s support.
In his welcome address, the Permanent Secretary, 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, NEXIM 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, noting that, with the continued support of the Ministry, NEXIM bank would deliver on her mandates.
The two board members inaugurated were Mallam Kabiru Hassan and Chief Ede Dafinine. 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 and currently, Chairman of Manufacturers Association of Nigeria Export Promotion Group as well as member, National Council of Manufacturers Association of Nigeria.
(TSN)
