By ABUBAKAR YUSUF.
The reappointment of the Managing Director, Nigeria Export-Import Bank NEXIM, Alhaji Abba Bello was a reward not only for hard work, diligence and commitment to duty, but glaring transparency, accountability and major reforms that had placed the hub of dual organization in a good stead hence returning it to profitability.
Appointed to serve his first term in 2017, with a low performance indices in the area of both import and export transactions, came down from a low ebb of (N8.030B ), built upon on assumption of duty that increased to an impressive performance of (N3.825B) few years at the mantle of leadership.
This had demonstrated leadership acumen, dexterity and frugality in all ramifications towards both import and export transactions at the front burner towards encouraging not only investments, divestment among other activities.
The profitable stead became a veritable tools responsible for the multiple improvement in returns of capital earnings from 15.31 to 2.72 as at close of work after three years.
With concerted efforts towards staff orientation and re-orientation towards meeting the mandate of the new management, the performance of non- performing loans jerked up to a high top percent of 94% , was brought under control to a realistic percentage of 27% in 2021 , with increase in total assets of the Bank to almost 222% or 136.132B from the low ebb at inception of the current leadership as at 2017 under review.
With a versed management exposed to the intricacies of fund management that enhanced it’s liquidity position and additional funding by CBN totalling N103.755B and another interventions from the Finance Ministry of about N3.936B, as well as the $50 Million from NCDMB , along with $25M from the parent body in Africa, African Export- Import Bank.
The CBN grant had opened a vista of series of interventions both from foreign and local conglomerates that improved the services of of NEXIM and it’s growth.
Abba Bello and it’s team got reappointed with it’s recoveries from a negligible 40.780M at inception to an encouraging current position of over N1B, with a total collection realizable of over 11B naira in the first term of the current leadership.
Having provided an enabling environment to encourage export transactions, the leadership also provided a loan to export oriented organisations to the tune of N144B, though, in non oil sector,while it accounted for €375M as export proceeds under the current dispensation.
With the impressive performance, the Abba Bello led Nigeria Export-Import Bank NEXIM had placed itself at the cynosure of both local and foreign investors and transactions towards delivering it’s mandates and achieving it’s statutory obligations.
With a well thought out policy thrust and reactionary policies, the current Abba Bello team had laid a solid foundation arising from the administrative, professional and job exposures and achievements that created a fertile ground to both healthy competition and on the job strides.
Aside his reappointment, the good leadership the current management exposed the newly reformed organization, opened another babel of healthy competition among it’s peers.
The bank was ranked among the best three Development Finance Institutions (DFIs) and the best five public institutions, as the impartial assessment was based on the survey carried out by the anti corruption agency, Independent Corrupt Practices and Other Related Offences Commission (ICPC), Anti-corruption Assessment Criteria.
With his reappointment in April, 2022 by President Muhammadu Buhari, no doubt more strides, achievements, innovations and initiatives will be embarked upon by the Abba Bello led management in Nigeria Export- Import Bank NEXIM.
ABUBAKAR YUSUF, A Public Affairs Analyst Writes From Abuja and can be reached on yus.abubakar3@gmail.com.
