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Indigenous oil company, Oando Plc, has announced that it contributed $550m to the $925m disbursed to the Federal Government by the African Export-Import Bank under the $3.3bn crude oil-backed finance facility sponsored by the Nigerian National Petroleum Company Limited.
As the naira continues to weaken near the 1,500/dollar band at the official and parallel foreign exchange market, the Federal Government has received a lifeline of $925m from the Afrieximbank to boost the forex market and meet its dollar obligations.
This landmark financing is the largest syndicated loan ever raised by Nigeria in the International market and one of the largest syndicated debts raised in Africa in recent years;The Facility will...
This landmark financing is the largest syndicated loan ever raised by Nigeria in the International market and one of the largest syndicated debts raised in Africa in recent years
African Export-Import Bank (Afreximbank) has announced the successful disbursement of the initial tranche of the syndicated $3.3 billion crude oil prepayment