§ Mr. Sedgemoreasked the Secretary of State for Trade and Industry if he has estimated the probable loss to the Export Credits Guarantee Department of guarantees given in respect of trade with Nigeria since 1981; and if he will make a statement.
§ Mr. ChannonThe Export Credits Guarantee Department has made substantial claims payments relating to trade with Nigeria since 1981. The majority of the claims results from delays in the transfer of foreign exchange which the Nigerian authorities intend to clear by 1989.
§ Dr. McDonaldasked the Secretary of State for Trade and Industry if he will publish in the Official Report the total cumulative losses under the Export Credits Guarantee Department's comprehensive basic guarantee schemes; and if he will list under each facility the percentage of total claims payments for that facility attributable to the 10 biggest loss-making individual guarantees.
§ Mr. Channon[pursuant to his reply, 20 November 1985, c. 188]: The information is not available in the precise form requested because final losses do not become known until some years after the guarantees are given. Details of the outturn of ECGD's activities are published annually in the audited trading accounts and provisional figures for 1984–85 are in "ECGD Trading Results 1984–85", copies of which are in the Library of the House.
§ Mr. Sedgemoreasked the Secretary of State for Trade and Industry if he or his officials have held any discussions since 1981 with the Nigerian authorities over trade in relation to export credit guarantees or other trade involving alleged fraud; and if he will make a statement.
§ Mr. ChannonUnited Kingdom policy on export credit support for Nigeria has been regularly discussed in the course of normal bilateral exchanges between trade and other officials. Questions of alleged fraud have not arisen during these meetings.