Business Development

Credit Facility Features

Learn about our processing fees, facility costs, and application processing timelines.

a) Application Fees: A non-refundable Application Fee of N20,000 to N100,000 (depending on the type of facility) applies.

b) Cost of Facility: The Bank's products and services are availed either directly to beneficiary clients or as interbank facilities. Below are the banks indicative fee structure, based on risk-based pricing in respect of the products and services:

i. Interbank facilities

a) Rediscounting & Refinancing Facility [RRF]: 9% to Participating Banks [PBs] who are allowed a maximum spread of 3% per annum; subject to a maximum interest rate of 12%

b) Export Stimulation Fund [ESF]: 3% per annum to PBs who are allowed a maximum interest rate of 9% for short term or Long term Facilities

c) Stocking Facility: This Facility is MPR linked and is currently available at concessionary Margin.

ii. Direct Lending Facility

This Facility is MPR linked and is currently available at concessionary Margin.

iii. Lines of Credit [LOC]

The below LOCs are priced based on a 3 months/ 6 months SOFR reference rate plus a Concessionary Margin.

Lines of credit

CREDIT APPLICATION PROCESSING TIMELINES

Credit Applications will only be deemed to have been received, when all basic documentation requirements are completed, submitted and duly acknowledged by the Bank.

Upon receipt, Credit Applications will be processed within the following timelines;