TERMS AND CONDITIONS FOR ACCEESSING THE N500BILLION EXPORT STIMULATION FACILITY (CBN NON-OIL EXPORT INTERVENTION FUND)

4
1444

MONEY

FACILITY TYPES

  1. Working Capital (renewable))
  2. Term loan for acquisition of plant and machinery/expansion

ELIGIBILITY

– Company must be duly registered/incorporated in Nigeria, commercially viable and have established relationships with counterparts and contracts with viable export off-takers

Eligible Transactions Include

  1. Transactions connected with export of goods wholly or partly processed/manufactured in Nigeria
  2. Transactions relating to export of commodities & services which are exportable under the law of Nigeria
  3. Export -facilitating imports
  4. Transaction of specific projects established for production of inputs, export goods & materials meant for exportable manufactured goods

ABRIDGED TERMS AND CONDITIONS

  1. Obligor Limit: Maximum of N5billion (not more than 70% of the total project cost)
  2. Tenor: -Working Capital – 1 yr with option of renewal, not more than twice

-Term Loan – Up to 10 yrs (to expire February 2026

  1. Interest: 9% per annum
  2. Repayment: Quarterly repayment
  3. Moratorium: not exceeding 2 yrs
  4. Collateral: Legal mortgage OR Mortgage debenture OR Lien on blue chip shares OR any other collateral acceptable to the bank
  5. Availability: The fund is also available to refinance existing facilities granted by the bank subject to CBN approval

4 COMMENTS