The Nigerian Export-Import Bank has described as untrue claims by the Peoples Democratic Party in Edo State that it is planning to give a $500m loan to the All Progressives Congress to fund its campaign in the forthcoming governorship election in the state.

The bank, in a statement by Lohya Mamven of the Corporate Communications Department, on Friday said PDP’s claims were false and mischievous, noting that it does not fund political activities under any guise.

The Edo State Chapter of the Peoples Democratic Party had on Thursday alleged that the National Campaign Council of the APC was planning to seek $500m from NEXIM Bank to fund the September 19 governorship election in the state.

The party’s publicity secretary in the state, Chris Nehikhare, said in a statement, “This outrageous sum will be converted to a loan and the burden of repayment placed on Edo people.”

However, NEXIM Bank in its response said PDP’s claims were to drag the bank and its management into interparty politics.

The statement read,

“Our attention has been drawn to a statement circulating in some online media calling the Inspector-General of Police, Mohammed Adamu, and the Economic and Financial Crimes Commission to investigate NEXIM Bank over an alleged plan to give the ruling All Progressives Congress the sum of $500m to conduct governorship elections in Edo State.

“For the avoidance of doubt, the Nigeria Export-Import Bank is an agency of government, whose mandate is to promote the diversification of the Nigerian external sector by providing funding and risk-bearing services to the non-oil export sector. In this regard, the bank grants loans to support export-oriented projects only and does not fund political activities under any guise.

“The bank, therefore, considers it a disservice, not only to NEXIM but to the entire country for any individual or group to engage in activities capable of distracting the institution and its management, particularly during this critical period of serious economic challenges.”