Nexim Bank Official Rebuttal of Media Publication Titled – “CNPP Calls for Suspension of Nexim Bank’s MD…demands immediate probe of N200bn Stabilisation Fund”


ABUJA, Nigeria, May 19, 2014/ The attention of the Nigerian Export Import Bank (NEXIM) (http://neximbank.com.ng) has been drawn to media publication in various websites as well as broadcast on several FM radio stations since Friday, May 16th, 2014, credited to a group called the ‘Conference of Nigerian Political Parties’ – CNPP signed by its Secretary General, Chief Willy Ezugwu, calling for the ‘…Suspension of the MD of NEXIM Bank, Mr. Roberts Orya for alleged dereliction of duty, gross abuse of office and misapplication of the N200bn Stabilisation and Loan Guarantee Fund advanced the agency by the Central Bank of Nigeria (CBN).’

Given the responsibility of NEXIM Bank to its Shareholders, development partners and Nigerian exporters, it becomes imperative to state that these claims are not only false but a product of an obvious smear campaign intended to malign the impressive progress so far achieved by the Bank and distract its Management led by Mr. Roberts Orya from following through its present transformation initiative which has so far yielded glaring results. The Management therefore wishes to categorically state that:–

1.         THE BANK HAS NOT IN IT’S OVER TWENTY-THREE (23) YEARS OF EXISTENCE RECEIVED ANY N2OOBILLION STABILISATION FUND FROM THE CENTRAL BANK OR ANY OTHER AGENCY OF GOVERNMENT.

2.         INDEED, THE BANK HAS AN AUTHORISED AND CALLED-UP SHARE CAPITAL OF N50BILLION EQUALLY CONTRIBUTED BY THE CENTRAL BANK OF NIGERIA AND FEDERAL MINISTRY OF FINANCE INCORPORATED.

3.         THE BOARD AND MANAGEMENT HAVE IN THE LAST FOUR YEARS COMPLETELY TURNED AROUND THE FORTUNES OF THE BANK THROUGH POSITIVE FINANCIAL PERFORMANCE AND INCREASED DEVELOPMENTAL IMPACT TO THE NIGERIAN ECONOMY.

4.         KEY ELEMENTS OF THIS TURNAROUND INCLUDE  THE FIRM ENTRENCHMENT OF A ROBUST RISK MANAGEMENT AND CORPORATE GOVERNANCE AS WELL AS HIGHLY SKILLED PERSONNEL. THEREFORE IT IS IMPOSSIBLE FOR LOANS TO BE DISBURSED IN THE ALLEGED MANNER.

5.         THE BANK HEREBY DEMANDS THAT THE CONFERENCE OF NIGERIAN POLITICAL PARTIES (CNPP) AND CHIEF WILLY EZUGWU MUST WITHIN FORTY-EIGHT (48) HOURS OF THIS REBUTTAL  OFFER AN UNRESERVED APOLOGY AND A RETRACTION OF THE PUBLICATION/BROADCAST VIA SAME MEDIA CHANNELS USED IN THE DISSEMINATION OF THE ALLEGATIONS, FAILING WHICH NEXIM BANK SHALL TAKE APPROPRIATE LEGAL ACTION TO PROTECT ITS CORPORATE INTEGRITY.

Signed,

MANAGEMENT: NIGERIAN EXPORT-IMPORT BANK

Sunday, May 18th, 2014

SOURCE

Nigerian Export-Import Bank (NEXIM)


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