Connect with us

Headlines

Loan Recovery Drive: NEXIM Bank secures N10.2bn, $3.25m

Published

on

Mr. Abba Bello, the Managing Director/Chief Executive Officer of the Nigerian Export-Import Bank (NEXIM), said that the bank’s aggressive debt recovery and proactive loan measures increased recoveries from N200 million in December 2016 to N10.2 billion and $3.25 million between January 2017 and February 2022.

The MD also stated that the loan recovery drive had resulted in the seizure of assets worth around N7 billion, which are now up for sale.

He said that efforts to clean up the balance sheet, as well as improvements in risk management techniques, had resulted in new loans granted in 2018 performing 100 percent, which is a significant improvement over the previous years’ large non-performing loans.

Advertisement

Upon taking office on May 2, 2017, the new management created a new Strategic Plan (2018–2022) aimed at increasing operational performance, fulfilling the bank’s mandate, and contributing to the federal government’s Economic Recovery and Growth Plan objectives.

In its fifth year of operation, Bello said the plan has helped the bank achieve a dramatic turnaround in its operational performance.

The NEXIM Bank CEO also revealed that the development finance institution’s activities under the Export Development Fund (EDF) resulted in the processing of 442 applications worth N461 billion and $43.69 million, of which N214.65 billion was approved and N153.03 billion was disbursed to 101 beneficiaries, as well as approvals worth N55.85 billion that were in the pre-disbursement stage.

Advertisement

He stated that so far, $492.97 million and €1.17 million have been received as export proceeds from projects that have repatriated their income, amounting to N196.32 billion, while others have yet to complete the transaction circle.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Headlines

Tinubu arrives Katsina to receive Buhari’s body for burial

Published

on

President Bola Tinubu, on Tuesday arrived in Katsina to receive the remains of the former President Muhammadu Buhari, who passed away in London on Sunday at the age of 82.

The News Agency of Nigeria (NAN) recalls that Vice-President Kashim Shettima departed London in the early hours of Tuesday with the remains of Buhari back to Nigeria.
On arrival at the Umaru Musa Yar’adua Airport Katsina, Tinubu was received by Gov. Dikko Radda,  former Vice-President Yemi Osinbajo, governors, Chairman of Dangote Group, Alhaji Aliko Dangote, Deputy Senate President, Jibrin Barau, and Speaker of the House of Representatives,  Tajudeen Abbas.
Others are Ministers, former governors, former and serving Senators, Alhaji Dahiru Managl,  former Minister of Information and Culture, Lai Mohammed, members of the All Progressives Congress (APC) National Working Committee (NEC), amongst others.
Continue Reading

Headlines

“He Never Turned His Back on the Needy” — Tributes Pour In Ahead of Buhari’s Burial

Published

on

Just hours before the burial of former President Muhammadu Buhari, heartfelt tributes have continued to pour in from beneficiaries of his many charitable deeds, with many describing him as a man who never turned his back on the needy.

Speaking to the News Agency of Nigeria (NAN) on Tuesday, Aminu Daura, a respected community elder, recalled how Buhari consistently provided foodstuffs during Ramadan for families, friends, widows, and orphans in his hometown.

“He never made noise about it, but many homes had food on their tables during fasting period because of him,” Daura said.

Advertisement

Abdullahi Sani, a physically-challenged man who received a tricycle from the Buhari Foundation in 2021, was overcome with emotion while speaking to NAN.

“I can move around and feed my family today because of Baba Buhari. I pray to Allah to reward him for giving hope to people like me,” he said, in tears.

Hajiya Fatima Yahaya, another resident, remembered Buhari’s acts of kindness during festive seasons.

Advertisement

“Even after he left office, his aides ensured that the usual support still reached us every year. He always remember his people,” she said, referring to his distribution of Sallah rams and food items to indigent families during Eid celebrations.

Other residents of Daura also shared memories of how the late former president quietly paid school fees and medical bills for struggling families, actions rarely publicized.

“Some of us benefited from his silent interventions. He was a true father and a great figure in the society,” said Ali Saidu.

Advertisement

On Monday night, Imams across various mosques in Daura held special Qur’anic recitations, praying for the forgiveness of Buhari’s sins and his eternal peace.

The Chief Imam of Daura Central Mosque, Sheikh Musa Kofar Barau, described Buhari as a humble leader whose legacy of service and compassion would remain alive in the hearts of the people.

Buhari is scheduled to be buried later on Tuesday in his hometown of Daura, Katsina State, in line with Islamic rites. The community is bracing to welcome thousands of mourners from across Nigeria and beyond.

Advertisement
Continue Reading

Headlines

King Mohammed VI Mourns Buhari, Praises Legacy of Nigeria’s Former Leader

Published

on

His Majesty King Mohammed VI of Morocco has extended heartfelt condolences to President Bola Tinubu, the family of the late former President Muhammadu Buhari, and the entire Nigerian people following Buhari’s death.

In a message of sympathy, the Moroccan monarch described the passing of the former Nigerian leader as a “sad occurrence,” expressing deep sorrow over the loss.

King Mohammed VI hailed Buhari as “an illustrious leader who worked untiringly to serve his country’s best interests and lead his people toward further progress and prosperity.”

Advertisement

He added: “Our thoughts and prayers are with you and the bereaved. I share your grief and want you to know how much I appreciated the working sessions I had with the deceased.”

Reflecting on their bilateral engagements, the king noted that his collaboration with Buhari led to the launch of promising development projects, “ushering a new era grounded in friendship and close cooperation between our two sister nations.”

Advertisement
Continue Reading

You May Like

Copyright © 2025 Acces News Magazine - All Right Reserved.

Verified by MonsterInsights