President Muhammadu Buhari recently approved the re-appointments of Abba Bello, (Managing Director and Chief Executive Officer), Dr. Bala M. Bello, (Executive Director Corporate Services), and Stella Erhuvwu Okotete, (Executive Director Business Development) of the Nigeria Export-Import Bank (NEXIM) .
In a statement signed by the Special Adviser, Media and Communications to the Minister of Finance, Yunusa Tanko Abdullahi, stated that their re-appointment became necessary after the expiration of their first five years tenure, which elapsed on 9th April 2022.
The statement further reads in parts: “Section 11(4) of the NEXIM Bank Act specifies that the Managing Director and the Executive Directors shall hold office for a period of five years and shall be eligible for re-appointment for a further period of five years.
“Accordingly, as the expiration of the first term drew near, it became necessary to appraise their performance since assumption of duties across the core mandate areas of the bank for the purpose of their re-appointment or otherwise.
“The outcome of the appraisal revealed that the current management team with the support of the board has performed as well as exemplified by key achievements.
“Evidently, the operating profit, previously in the negative (N8.030billion) at the inception of the current management, has increased to N3.825billion in 2021, and there is an improvement in returns on capital earnings from -15.31 in 2016 to 2.72 in 2021.
There is a reduction in non-performing loans from 94% in 2017 to 29% as at December, 2021, and there is an increase in the total assets of the bank by approximately N136.132billion or about 222% from inception of the current management in 2017 to 31st December, 2021.
“There is also an enhanced liquidity position of the bank through additional funding totaling N103.755billion from Central Bank of Nigeria (CBN), N3.936billion from Federal Ministry of Finance, US$50million from the Nigerian Content Development Management Board (NCDMB) and US$25million from the African Export-Import Bank.
“The bank has also made high growth in recoveries from N40.780million in 2016, preceding the current management to an annual average recovery of N1.243billion between 2017 and 2020 and a total collection of N11.903billion for the five-year period. The bank has made the disbursement of a total sum of N144billion in loans to export-oriented entities in the non-oil sector while accounting for approximately US$375million as export proceeds within the period under review.
“The bank has been ranked among the best three Development Finance Institutions (DFIs) and best five public institutions surveyed based on the independent Corrupt Practices and Other Related Offences Commission (ICPC) Anti-corruption Assessment Criteria.
“In view of all the achievements, the current executive management team headed by Abba Bello, has turned around the fortunes of the bank and re-positioned it on the path of prosperity towards a better realization of its mandate.”
A seasoned banker with over 28 years of experience, Abba Bello, until his appointment in April 2017, was the Executive Director, Unity Bank Plc, in charge of Corporate Banking, Agriculture and North Directorate. He has cognate experience in international banking and was the pioneer Managing Director/CEO of United Bank for Africa Plc’s subsidiaries in the Republic of Chad and Zambia for several years.
Abba has attended several courses in Nigeria and abroad in leadership, advanced management, and executive management. He is a member of Chartered Institute of Bankers Nigeria, and a Fellow, Institute of Credit Administration.
