A mortgage bank with headquarters in the Federal Capital Territory, Abuja, has lost prime properties valued at about N2b for defaulting on a loan obtained from the Nigerian Export-Import Bank.
The assets include a vacant expanse of land located close to the National Assembly, three arms zone, valued at about N1bn; a house in Amina Court, Apo Dutse District, Abuja, and two residential estates at Chachi, Tafa Local Government Area, Suleja, Niger State.
Our correspondent reports that NEXIM bank has put up for sale defaulters’ assets valued at N7bn.
A report from NEXIM said the bank had begun an aggressive loans recovery exercise, leading to the recovery of N10.2bn and $3.25m debts from delinquent customers.
A mortgage bank with headquarters in the Federal Capital Territory, Abuja, has lost prime properties valued at about N2b for defaulting on a loan obtained from the Nigerian Export-Import Bank.
The assets include a vacant expanse of land located close to the National Assembly, three arms zone, valued at about N1bn; a house in Amina Court, Apo Dutse District, Abuja, and two residential estates at Chachi, Tafa Local Government Area, Suleja, Niger State.
Our correspondent reports that NEXIM bank has put up for sale defaulters’ assets valued at N7bn.
A report from NEXIM said the bank had begun an aggressive loans recovery exercise, leading to the recovery of N10.2bn and $3.25m debts from delinquent customers.
With continued positive performance, increased strategic partnerships for lines of credit and the push for recapitalization of the bank, the target is to achieve a significant increase in balance sheet size in line with growing export opportunities, particularly in view of the African Continental Free Trade Agreement.”
NEXIM disclosed that it has utilised the N100bn CBN facility released in December 2020 for the implementation of the Export Development Programme following the high level of confidence in the current management of the bank.
