BEARS: Missing N500billion Export Grant

The export community has become worried over the inaccessibility of the N500 billion export stimulation fund which the Central Bank of Nigeria (CBN) disbursed through the Nigerian Export and Import (NEXIM) Bank on February 2, 2016.

MMS Plus gathered that the criteria for accessing the fund is too rigorous and the Cocoa Exporters Association of Nigeria has called on the Central Bank of Nigeria (CBN) and NEXIM Bank to urgently do something about the disbursement of the N500 billion for non-oil export.

How can the government disburse funds to develop a sector and one year after nobody has been able to access it? Where is the N500 billion at the moment? Is the money ever going to get to real Nigerian exporters or is it being reserved for angels? Do I have to know a particular person in CBN or NEXIM Bank to be able to access it?