The Managing Director/Chief Executive Officer of the Nigeria Export-Import Bank (NEXIM), Mr. Abubakar Abba Bello has said the Bank is set to be flexible with financing packages and reduce collateral requirements for Small and Medium Enterprises (SMEs).
This is particularly for SMEs with collateral challenges, he said.
Mr Bello stated this during an insightful session in conversation with him in Abuja on Tuesday, 2nd September, 2025.
Spark News Daily reports that the conversation aims to explore SMEs financing, non-oil export opportunities, and how NEXIM is driving Nigeria’s agro-industrial revolution to empower businesses for global success.
The NEXIM boss said the Central Bank of Nigeria (CBN) has made alternative collateral in the market known as ‘National Collateral Registry’ which enables movable assets.
He emphasized that collateralization is a backup to enhanced SMEs ideas when the business is bankable and adjustable for collateralization requirements.
Fielding questions from the press, Mr. Bello highlighted that the biggest users of the National Collateral Registry are the microfinance.
He noted that personal valuables like cars, jewelries and others can be registered on the collateral registry.
The MD also noted that NEXIM is a trade facilitator, emphasizing that certain standards must be met for export financing.
Speaking further on export, he stressed the need for standardization of products to achieve sustainability and global competitiveness.
Mr. Bello urged the Nigerian youths and SMEs owners to think global and not limit their thinking to local standards so as to compete in the market place outside Nigeria.
, Mr. Abubakar Abba Bello has said the Bank is set to be flexible with financing packages and reduce collateral requirements for Small and Medium Enterprises (SMEs).){kind=link}