Nigerian Export Import Bank - NEXIM
“Can a government-owned export credit agency meaningfully diversify Nigeria's export base away from oil through concessionary lending and credit insurance?”
NEXIM is a wholly government-owned Nigerian Export Credit Agency (ECA) and development finance institution established by Act 38 of 1991, replacing the earlier Nigerian Export Credit Guarantee & Insurance Corporation. It is jointly owned by the Federal Ministry of Finance Incorporated and the Central Bank of Nigeria. NEXIM provides short/medium-term export credit, export credit guarantees, and export credit insurance to Nigerian exporters and participating commercial banks — it is not a retail bank and does not accept customer deposits. It plays a complementary role to Nigeria's commercial banks in diversifying the economy away from oil.