President Tinubu appoints Ibrahim Gaga as new Executive Director of NEXIM Bank

Date:

February 22, 2024.

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Azonuchechi Chukwu.

President Bola Tinubu has approved the appointment of Mr. Ibrahim Khalil Gaga as the new Executive Director, Corporate Services, at the Nigerian Export-Import Bank (NEXIM).

This was contained in a statement by the presidential spokesperson, Ajuri Ngelale, on Wednesday in Abuja.

According to the statement, Mr. Gaga, a seasoned lawyer, has amassed over 25 years of experience within the banking industry and legal services, embodying a unique blend of expertise in these two critical areas.

Ngelale noted that he was formerly the Board Secretary and Legal Adviser at NEXIM Bank prior to his appointment.

The Statement reads:

“President Bola Tinubu has approved the appointment of Mr. Ibrahim Khalil Gaga as Executive Director, Corporate Services, at the Nigerian Export-Import Bank (NEXIM).

“Mr. Gaga, a lawyer, has gained over 25 years of experience in the banking sector as well as in legal services.

“Prior to his appointment, he was the Board Secretary and Legal Adviser at NEXIM Bank.

“The President expects that Mr. Gaga will bring to his new role renewed zeal and diligence to enhance NEXIM’s mandate of providing finance, risk mitigation services, accurate trade and market information, as well as export advisory services to Nigerians in full support of the economic development agenda of his administration.”

The Nigerian Export-Import Bank (NEXIM) was established by Act 38 of 1991 as an Export Credit Agency (ECA) with a share capital of N50 billion held equally by the Federal Ministry of Finance Incorporated and the Central Bank of Nigeria.

The Bank which replaced the Nigerian Export Credit Guarantee & Insurance Corporation earlier set up under Act 15 of 1988, has the following main statutory functions:

The Bank presently provides short and medium-term loans to Nigerian exporters. It also provides short-term guarantees for loans granted by Nigerian Banks to exporters as well as credit insurance against political and commercial risks in the event of non-payment by foreign buyers.

The Bank is also the government’s National Guarantor under the ECOWAS Inter-state Road Transit programme. (www.naija247news.com).

Azonuchechi Chukwu
Azonuchechi Chukwuhttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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