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JUST-IN: NNPCL Secures $3bn AFREXIM Bank Facility To Ease Naira Demand Pressure

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The Nigerian National Petroleum Company Limited (NNPCL) said it has secured a $3bn emergency loan from the African Export-Import Bank (Afrexim) to ease

At an event held in Cairo, Egypt, both parties jointly signed a commitment letter and Termsheet for the emergency loan of $3billion.

The move is expected to boost foreign exchange liquidity into the country and will further drive down the exchange rate between the naira and the dollar.

Source: News Formal (newsformal.com)

 

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