Business
NEXIM, Task Force To Collaborate On Trade
The task force on trade facilitation has expressed interest to collaborate with the Nigeria Export-Import Bank (NEXIM) to help to eliminate hindrances and deepen trade in the country.
Mr. David Adejuwon, chairman of the task force made this known in an interview with newsmen in Abuja after the group visited Mr. Roberts Orya, NEXIM’s Managing Director.
He said collaboration with NEXIM would go a long way in strengthening trade in the country.
“The issue of multiple checkpoints along our border corridor; we have been able to confirm the report we received that between Lagos and Seme border alone, there are about 35 checkpoints during daytime and almost 50 checkpoints at night between Lagos and Seme border.”
“This is as against the protocol that all member countries have signed to reduce such checkpoints to maximum of three.”
Adejuwon said multiple checkpoints impacted negatively on the nation’s image and competitiveness, adding that it was against efforts made in the past to attract Foreign Direct Investments.
“This issue must be addressed frontally,’’ he stressed.
He noted that the World Bank had recommended three locations where authorised checkpoints should be and where agencies approved to work, should stay at the border corridor.
He said that the idea of seeing different law enforcement agencies after every half kilometer at the border corridor, demanding different kinds of
papers, made the environment not conducive to trade.
He said: “We have travelled to all parts of the world and on their roads you will travel thousands of kilometers without seeing a single drum placed to block the road or people placing spikes on the road to stop trucks for checking.”
“But that is not to say that the law enforcement agencies are not there. It is a serious issue that as a task force we want to tackle frontally.’’
Adejuwon, who is also Director of Trade in the Federal Ministry of Commerce and Industry added that there was the need to address the facility gap at the airport.
He said that the process of passing through Immigration Service checkpoint and baggage lounge takes a long while and should be improved.
He added that for the nation to be able to grow the economy and achieve all the development plans, efforts should be made to ensuring effective movement of trade in the country.
He said that the task force would be working on sensitising Nigerians to create necessary awareness, adding that the process of review of the nation’s trade police would soon begin.
Responding, Orya assured that NEXIM was prepared for the collaboration, saying: “deepening trade continues to be one of the priorities of the bank.’’
“I have to thank the members of the task force for a good work they are doing and we have to encourage them to continue.”
“Deepening trade in the ECOWAS region continues to be our initiative and one of the areas of priority for the bank.’’
Orya said that much had not been done with a lot of protocols signed by member states of ECOWAS to ensure seamless movement of goods and people within the sub-region.
He stressed: “you will have the support of NEXIM because this is also what we are driving at and where we are going.
“Everybody, even the development bodies, will be happy to see that we are working on deepening trade in the sub-region.’’
The Central Bank of Nigeria (CBN) yesterday said 33 banks have met new minimum capital requirements under its recapitalisation programme, raising a combined N4.65 trillion to strengthen the financial system.
The apex bank disclosed this in a statement marking the end of the exercise, which commenced in March 2024 and drew participation from domestic and foreign investors.
The statement was jointly signed by the Director of Banking Supervision, Olubukola Akinwunmi, and the Acting Director of Corporate Communications, Hakama Sidi-Ali.
The statement said “Over the 24-month period, Nigerian banks raised a total of N4.65tn in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy.”
The regulator said local investors accounted for 72.55 per cent of the funds, while international investors contributed 27.45 per cent, reflecting continued confidence in the sector.
Commenting on the outcome, the CBN Governor, Olayemi Cardoso, said in the statement, “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”
It added that while 33 banks have complied with the new thresholds, a few others are still undergoing regulatory and legal processes.
The statement noted, “The CBN confirms that 33 banks have met the revised minimum capital requirements established under the programme.
“A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks.
“All banks remain fully operational, ensuring continued access to banking services for customers.”
The apex bank stressed that the exercise was executed without disrupting banking operations, ensuring uninterrupted access to services nationwide.
It further stated that key prudential indicators have improved, particularly capital adequacy ratios, which remain above global Basel benchmarks.
The minimum ratios were set at 10 per cent for regional and national banks and 15 per cent for banks with international licences.
The bank also said the recapitalisation coincided with a gradual exit from regulatory forbearance, a move it said improved asset quality, strengthened balance sheet transparency, and enhanced overall stability.
To preserve these gains, the CBN said it has reinforced its risk-based supervision framework, mandating periodic stress tests and adequate capital buffers for banks.
It added that supervisory and prudential guidelines would be reviewed regularly to strengthen governance, risk management, and resilience across the sector.
“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks,” the statement said.
The Tide learnt that foreign capital inflows into Nigeria’s banking sector rose by 93.25 per cent year-on-year to $13.53bn in 2025, up from $7.00bn recorded in 2024, amid the ongoing recapitalisation drive by the Central Bank of Nigeria.
Data from the National Bureau of Statistics capital importation report showed that the banking sector remained the dominant destination for foreign capital, accounting for $13.53bn of the total $23.22bn recorded in 2025, representing 58.26 per cent of total inflows, up from 56.81 per cent in 2024.
The surge reflects heightened investor interest in Nigerian banks as they raised fresh capital to meet new regulatory thresholds introduced by the apex bank, with industry-wide recapitalisation activities driving large-scale inflows across all quarters of the year.
However, the Centre for the Promotion of Private Enterprise (CPPE) recently raised concerns over weak credit flows to small businesses despite recent banking sector reforms.
The CPPE, led by a renowned economist, Dr Muda Yusuf, acknowledged that the ongoing bank recapitalisation exercise by the CBN has strengthened the financial system, but warned that the benefits have yet to translate into meaningful support for the real economy.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
