The Nigerian Export-Import Bank (NEXIM) was established in 1991 as a division of the Export Credit Agency (ECA) with a share capital of N 50,000,000,000 (Fifty Billion Naira) 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 set up in 1988, has the following main statutory functions:

• Provision of export credit guarantee and export credit insurance facilities to its clients
• Provision of credit in local currency to its clients in support of exports
• Establishment and management of funds connected with exports
• Maintenance of a foreign exchange revolving fund for lending to exporters who need to import foreign inputs to facilitate export production
• Provision of domestic credit insurance where such a facility is likely to assist export
• Maintenance of a trade information system in support of export business