The Nigerian Export-Import Bank (NEXIM) has announced the appointment of Kingsley Obiora as new chairman.
Mr. Kingsley Obiora will succeed chairman Joseph Nnana, former Central Bank deputy governor who retired from the board recently.
“Obiora would bring to bear his wealth of experience as a seasoned economist and technocrat, having joined the International Monetary Fund (IMF) through the globally-competitive ‘Economist Programme’ in 2007, said Tayo Omidiji, head of strategy and corporate communications of NEXIM.
“He worked in both the European department as well as the strategy, policy and review department of the fund.”
Kingsley Obiora, is currently a deputy governor of the Central Bank of Nigeria (CBN).
The Nigerian Export-Import Bank (NEXIM) was established by Act 38 of 1991 as an Export Credit Agency (ECA) with a share capital of N50, 000,000,000 (Fifty Billion Naira) held equally by the Federal Ministry of Finance Incorporated and the Central Bank of Nigeria.
The Bank presently provides short and medium term loans to Nigerian exporters. It also provides short term guarantees for loans granted by Nigerian Banks to exporters as well as credit insurance against political and commercial risks in the event of non-payment by foreign buyers. The Bank is also the government’s National Guarantor under the ECOWAS Inter-state Road Transit programme.