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Naira Stability: Hope Rises as Lender Woos Oil Marketers on $3BN Loan

The Nigerian National Petroleum Company Limited (NNPCL) and @afreximbank  have jointly signed a commitment letter and termsheet for an emergency $3

The Nigerian National Petroleum Company Limited (NNPCL) has secured a $3billion emergency crude repayment loan to stabilise the Naira. This is coming on

The Nigerian National Petroleum Company (NNPC) Limited has said it has secured an emergency $3 billion crude oil repayment loan to stabilise the country’s exchange rates.    The company said this in a tweet on Wednesday, adding that the $3 billion is from AFREXIM Bank, the trade finance bank for Africa.    According to NNPCL, the money will be used to increase the value of the country’s currency, naira, at the international market.