The MD also said the loan recovery drive had led to the
seizure of assets worth about N7 billion which are currently on the sale block.
He said efforts to clean up the balance sheet as well as
improvement in risk management practices had ensured that new loans granted
from 2018 are performing 100 per cent, which is a major departure from the huge
non-performing loans in the past.
Upon assumption of office on May 2, 2017, the new management
had developed a new Strategic Plan (2018 – 2022) that was articulated towards
improving operational performance, achieving the bank’s mandate and
contributing to meeting the objectives of the federal government under the
Economic Recovery and Growth Plan.
Currently, in its fifth year of operations, Bello said the
plan had contributed to the significant turnaround of the operational
performance of the bank.
He told THISDAY, “Unlike the trend in the past, the bank has
also engaged significantly with stakeholders, with improved relationship,
manifesting in collaborative efforts towards policy intervention and increased
focus on the non-oil export sector.
“Enhanced operating model through restructuring of regional
offices for the bank to maintain a presence in each geo-political zone of the
country for better market penetration and nationwide coverage.”
The NEXIM Bank boss further disclosed that activities of the
development finance institution under the Export Development Fund (EDF) had led
to the processing of 442 Applications worth N461 billion and $43.69 million,
out of which N214.65 billion had been approved while N153.03 billion had been
disbursed to 101 beneficiaries, as well as approvals totaling N55.85 billion
which were undergoing the pre-disbursement process.
He said so far, $492.97 million and €1.17 million,
translating into N196.32 billion, have been received as export proceeds from
projects that have repatriated their income, while others are yet to complete
the transaction circle.