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Supply Chain Management inducts 276 new members, Task them on professionalism

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Joel Ajayi

The Chartered Institute of Purchasing and Supply Management of Nigeria has inducted 276 new members into the institute, as certified members and advised them to abide by its ethics.

The inducted members were sworn in after 18 months of rigorously scaling through the required professional examinations joining their counterparts across the continents.

Speaking on Friday in Abuja at the 2023 Batch B induction of new graduate members into the supply chain management procurement, the president of the Institute Alhaji Sikiru Oladepo Balogun advised them to imbibe integrity and diligence in their professional dealings.

He reiterated the need for the newly inducted supply procurement and management members to conform to internationally acceptable standards during their professional practice.

Alhaji Balogun said the country was losing resources due to leakages caused by unprofessional.

“We are losing resources through a lot of leakages and the major reason has to do with procurement, so there is a need to professionalize procurement so that offices that are supposed to handle the procurement are professionals.”

He, however, called on newly inductees to abide by its rules and regulations and be hard working, adding that failure to adhere to these will attract sanctions from the body.

“My Fellow inductees, note that calling you into this profession marks the beginning of your career in the Supply Chain Management (Procurement) field and you are required to attend Mandatory Proficiency Development Training Programmes and other relevant courses to enable you to increase your skill set and entitle you to the use of the title MCIPSN at the back of your name when you sign any document. You still need a lot of resources to burn more candles.

“You are warned to be of Standard Ethical Behaviour in your various places of work or as interact with other professions or human beings. Don’t allow a report of unethical behavior on you as you may be disrobed if you are found guilty. Go to the field to show expertise.”

While speaking, the Registrar/Chief Executive Officer (CEO) of the institute, Alhaji Mohammed Aliyu, called on the government at all levels to adopt good principles and standards for procurement and public financial management.

Aliyu also called on the government to implement procurement guidelines to ensure compliance with the Public Procurement Act 2007 to ensure maximum transparency in bidding processes or public contracts.

He said that there was a need to domesticate and apply the principles of procurement in the system for probity and accountability.

In his remark, the North Central Zonal Coordinator of the institute, Mr. Abdul Mamman, urged the Federal Government to inaugurate the National Procurement Council to give the country the lead in effective procurement.

According to him, the country will benefit from the inauguration of the council as it will help in eradicating corruption associated with the procurement process.

“Nigeria is set to benefit if it really allowed what to be done but what we are seeing now in Nigeria is that the economy has been wobbling.

“The government is trying but whatever good intention you have if the structures to implement the plan are not well endowed in the knowledge area, definitely complaints will come from people you are targeting.”

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NEXIM Bank Secures Bbb+ Rating from Agusto & Co., Declares ₦30.47 Billion Operating Profit

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By Joel Ajayi

The Nigerian Export-Import Bank (NEXIM) has been assigned a Bbb+ rating by leading credit rating agency Agusto & Co. Limited, affirming its satisfactory financial condition and strong capacity to meet obligations relative to other development finance institutions (DFIs) in Nigeria.

For the year ended 2024, NEXIM Bank reported an operating profit of ₦30.47 billion, more than double the ₦13.75 billion recorded in the previous year. This remarkable growth underscores the Bank’s financial resilience and operational efficiency.

Established to promote Nigeria’s non-oil exports and support import-substituting businesses, NEXIM is fully owned by the Federal Government of Nigeria through equal shareholding by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI).

The Bank has sustained strong liquidity and capital adequacy ratios, alongside notable growth in its loan book and equity investments. Key sectors supported include manufacturing, agriculture, solid minerals, and services.

According to Managing Director, Mr. Abba Bello, NEXIM has intensified its intervention in the non-oil export sector, disbursing over ₦495 billion and facilitating the creation and sustenance of more than 36,000 direct and indirect jobs.

Among the Bank’s key initiatives are:The Regional Sealink Project: A public-private partnership designed to improve maritime logistics across West and Central Africa. Promotion of Factoring Services: Offering alternative export financing solutions for SMEs. And Joint Project Preparation Fund (JPPF): Implemented in partnership with Afreximbank to enhance the bankability of export projects.

Additionally, NEXIM is developing tailored financing schemes for the mining sector, including Contract Mining, Equipment Leasing, and Buyers’ Credit/ECA Financing, aimed at unlocking export potential and boosting foreign exchange earnings.

With its renewed drive, NEXIM Bank remains committed to building local processing capacity, advancing Nigeria’s competitiveness in global trade, and strengthening non-oil export revenues by moving up the commodity value chain.

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