Regulatory Alerts2018-03-15 | FPR/PRD/GEN/CIR/02/042Circular to All Deposit Money Banks and Development Finance Institutions on the Commencement of the Non-Oil Exports Stimulation Facility (NESF)
The Central Bank of Nigeria (CBN) has introduced the Non-Oil Export Stimulation Facility (NESF) to promote growth in the non-oil sector and increase foreign reserve accumulation. The NESF offers term loans of up to 70% of the total project cost, with a maximum limit of ₦5,000,000,000.00, at a 9% interest rate per annum. The facility is available to non-oil export-oriented enterprises that are duly incorporated in Nigeria and have verifiable export off-take contracts.
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