To complement the role of Nigeria Export Import Bank as a member of the Trade Facilitation Task Force, whose mandate is to improve Nigeria’s ranking on “Trading Across Boarders”, the bank partners with the Borderless Alliance, a private sector-led partnership in collaboration with USAID/West African Trade Hub and other stakeholders.

The aim of the Borderless Alliance is to promote regional integration and seamless Trade in West Africa by addressing the problem of non-tariff barriers through policy advocacy and effective engagement.

Exporters are provided with pertinent information to assist, and also act as collation center for trade data to support evidence-based research and policy advocacy. The Bank has continued to embark on a number of initiatives in support of the Transformation Agenda of the Federal Government of Nigeria.

Obviously, this integration ought to have delivered on the purported mandate of the bank if goals and objectives in the public sector are pursued with utmost commitment and patriotism to boost the nation’s economy.

Perhaps, it is government business so its no body’s business, contrary to envisaged gains and consolidation on all trade agreements between Nigeria and other countries, often times losses are incurred in the process.

In order to capture the huge informal intra-regional trade, the ECOWAS Trade Support Facility (ETSF) was introduced and designed toward improving the current trade level of less than 12% and deepening the volume of recorded formal trade within the Sub-region, as well as fostering the implementation of the Government’s Trade Policy and regional integration policies like the ECOWAS Trade Liberalisation Scheme (ETLS), among others. Specifically, the ETSF Facilitates formal recorded trade within ECOWAS sub-region deepening intra-regional payment system.

There is increasing Nigeria’s trade flows within ECOWAS as the dominant trading partner from the current level of 8.5% of total non-oil exports. Broadening trade and market access for Nigerian goods and services, especially manufactured goods

This also promotes the development of Small and Medium Enterprises (SMEs) cross border traders and facilitating their integration into the formal sector of the economy, and in the process facilitating their access to credit.

In furtherance of government’s policy initiatives for strengthening the Creative Arts and Entertainment Industry, the Bank supported the industry through funding intervention with lending commitments of about N1 billion in the Industry’s various value chains in the last three years. The Bank’s funding intervention in the sector is intended to address issues regarding the establishment of credible structures, attract investment in the development of content and infrastructure as well as facilitate improvement in production standards, distribution and marketing including exhibition standards.

The bank has at various times falling short of its corporate responsibilities and roles in terms of meeting set standards in the facilitation of loans for the development of businesses though its new thinking is at the verge of amends to recover from its lapses.

On its developmental role to support capacity building, the Bank had Commissioned The Indian Bank to undertake a study to review the Industry and recommend best financing programmes in line with global best practices, standards, which led to the development of the operating guidelines for financing projects in the sector.

Sponsorships of various capacities building programmes, events and film festivals such as Zuma Film Festival, BOBTV African Film & TV Programmes Expo, Eko International Film Festival, Nigeria Music Video Awards, Nigerian Copyright Commission (NCC) Stakeholders Forum on review of the Copyright Law

Sponsorships of Nigerian Pavilions at Cannes International Film Festival, France in partnership with the Nigerian Film Corporation and DISCOP Africa, South Africa to showcase Nigeria’s creative talent and attract investment capital and partnerships. Partnerships with Federal Ministry of Culture and National Orientation on the 1st National Policy Dialogue on the Development of the Creative/Entertainment Industries in Nigeria, British Council on Creative Industry Expo and Mapping of the Industry Engaged in policy dialogues with development partners, relevant regulatory and statutory institutions in the entertainment value-chain on ways of improving industry framework / structures on issues relating to access to finance, monetizing intellectual property / copyrights and risk mitigating instruments

Active collaboration and participation on the Federal Government’s Initiative of Advancing Creativity and Technology in Nollywood (Project ACT).

Arising from the numerous challenges faced by traders in moving goods by roads within the sub-region, the Bank, as a Trade Facilitating Agency, initiated and is currently facilitating the establishment of a transnational shipping companying collaboration with the Organized Private Sector Associations in west and central Africa in partnership with the Federation of West African Chambers of Commerce and Industries (FEWACCI) and Transimex S. A Cameroun. The proposed Sealink Project is aim at mitigating current non-tariff barriers and high logistical costs that has hindered the growth of intra-regional trade and competitiveness of Nigerian manufactured exports regionally.

Though initiated and largely being facilitated by the bank, the Sealink Project is essentially a Public Private Partnership initiative and the Private Placement for the raising of US$60 million is currently on-going, with application list closing on 30th June, 2014, while the shipping company is expected to commence operations within the fourth quarter of this year. The Offer is being handled by FBN Capital, Nigeria (Issuing House) and SGI, Benin Rebublic (Placement Agents). This laudable initiative has been endorsed by the ECOWAS Commission and is being technically supported by the African Development Bank (AfDB), the Directorate of Technical Cooperation in Africa, Maritime Organization of West and Central Africa (MOWCA) and the Nigerian Shippers’ Council, amongst others.