The Association of African Development Finance Institutions (AADFI) has rated Nigeria Export-Import Bank (NEXIM) as “Best Performing African Finance Institution”.
The association said in a statement on Tuesday that the rating was an outcome of the 2013 annual AADFI CEOs Forum of African Development Bank and Finance Institutions.
The forum, held in Mombasa, Kenya, had the theme, “Strengthening African DFIs with Appropriate Standards and Guidelines’’.
The Managing Director of NEXIM Bank, Mr Roberts Orya, said that the ‘A’ rating by AADFI was a well-deserved reward for the bank.
Orya attributed the rating to the commitment and dedication of the bank’s management and staff in the four years rebuilding of the financial institution.
He said that the bank’s A rating from a negative position in 2011 by AADFI was a testimony of ìts successful corporate transformation initiative since August 2009.
Orya said that the bank was better repositioned to deliver on its mandate through more capital injection and other institutional support from its two shareholders.
He identified the shareholders as Central Bank of Nigeria (CBN) and Federal Ministry of Finance, which had offered supervisory, regulatory, oversight and guidance support to the bank.
“This has increased our capacity to support the growth of the non-oil exports and complement the export boosting activities of commercial banks.
“In all, we have consistently maintained a robust strategy, efficient operations through sustenance of highly skilled and motivated personnel,” Orya said.
The NEXIM boss also said that the bank’s plans to invite an international rating agency like Standard and Poor or Agusto & Company to rate the bank.
NAN
