NCDMB PORTAL

Plot 975 Cadastral Zone AO, Central Business District, Abuja

Phone: (+234) 9 4603630 – 9

Email: neximabj@neximbank.com.ng

NCDMB PORTAL reportgov.ng

ECOWAS Trade Support Facility

The ECOWAS Trade Support Facility (ETSF) was designed towards improving trade levels and deepening recorded/formal trade within the ECOWAS Sub-region.

To capture the huge informal intra-regional trade, the ECOWAS Trade Support Facility (ETSF) was introduced and designed towards improving the trade level, deepening the volume of recorded/formal trade within the ECOWAS Sub-region, as well as fostering the implementation of the Government's Trade Policy and Regional Integration policies like the ECOWAS Trade Liberalisation Scheme (ETLS), among others.

The Facility is availed either as a Working Capital or Term loan facility tenored for maximum period of two (2) years and Five (5) years respectively.

Eligible entities that may qualify for funding include:

  1. Be duly incorporated/registered in Nigeria as limited liability companies or cooperative societies (manufacturing, trading or service companies)
  2. Have a minimum of 50% export orientation evidenced by previous and existing export orders or any other evidence acceptable to NEXIM, or
  3. Have a minimum of 50% export orientation evidenced by export commitment(s) or any other evidence acceptable to NEXIM

Specifically, the ETSF aims at:

  1. Facilitating formal/recorded trade within ECOWAS sub-region
  2. Deepening intra-regional payment system
  3. Increasing Nigeria's trade flows within ECOWAS (as the dominant trading partner).
  4. Broadening trade and market access for Nigerian goods and services, especially manufactured goods

Participating Bank

Any commercial bank acceptable to NEXIM Bank.

Eligibility Criteria

  • Entities that are duly incorporated/registered in Nigeria as limited liability companies or cooperative societies (manufacturing, trading or service companies)
  • Production entities with a minimum of 50% export orientation evidenced by previous and existing export orders or any other evidence acceptable to NEXIM, or
  • Green fields or brown fields with a minimum of 50% export orientation evidenced by export commitment(s) or any other evidence acceptable to NEXIM

Collateral Requirements

PB's are expected to fully secure their lending. The types of security acceptable to NEXIM shall include but not limited to the following:

  • Promissory Notes/Irrevocable Standing Orders for the amount of the facility suitably drawn.
  • Fixed and/or floating charge over all assets of the project and/or promoter's landed properties with NEXIM's interest noted.
  • A lien over the proceeds of the export transactions financed with NEXIM's interest noted.
  • Marketable financial instruments.

Application Documentation

An exporter seeking to benefit from the facility shall apply to his bank. The PB shall appraise the application in line with its lending guidelines. On approval of the application, the PB forwards a formal loan request to the Managing Director/Chief Executive of NEXIM duly signed by two authorized signatories and supported by the underlisted documents:

  1. Certified True Copy of Certificate of Incorporation
  2. Exporter's Audited Statement of Accounts for the past three years (where applicable).
  3. Feasibility Study Report for a new project or a Project Brief for an on-going concern.
  4. Certified True Copies of Forms CO2 and CO7.
  5. Copy of Proforma Invoice(s) for proposed equipment from supplier(s).
  6. Evidence of Licences/Permits, where applicable.
  7. Evidence of export commitment or any other arrangement acceptable to NEXIM.
  8. Copy of Environmental Impact Assessment Report, where applicable.
  9. Any other document that may be required by NEXIM.

Interest Rates

All facilities are priced at concessionary interest rates.

Facility Repayment

Repayments shall be monthly, quarterly or semi-annually, in line with facility repayment schedule.

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