The African Export-Import Bank (Afreximbank) has launched a $3 billion Revolving Intra-African Oil Trade Financing Programme.
A new report by Afrexim Bank states that the proposed 5% tax on companies earning over N100 million for community development projects will result in the exits of multinationals from the country.
The African Export Import Bank has warned that divesting from fossil fuel could reduce Nigeria’s total Gross Domestic Product (GDP) by as much as $30 billion.
The foreign exchange (FX) turnover on the Nigerian official market crashed by 75.98%, hitting a three-week low on Thursday.
The foreign exchange (FX) turnover on the Nigerian official market crashed by 39.95% on Monday.
Afrexim bank have announced the disbursement of $925 million- another tranche of the $3.3 billion crude oil backed loan agreement it entered into with the NNPC last year.
Nigeria has officially signed the Establishment Agreement for the Fund for Export Development in Africa (FEDA), an impactful investment platform managed by the African Export-Import Bank (Afreximbank).
The proposed Africa Energy Bank which will help in funding oil and gas projects across Africa is set to begin operations this year with an initial capital base of $5 billion according to reports from Reuters.
The Italian international development financial organization, Cassa Depositi e Prestiti S.p.A (CDP) and Afreximbank formalized an agreement with a Memorandum of Understanding (MoU) that establishes a €100 million fund aimed at bolstering food security across Africa
The Central Bank of Nigeria (CBN) has said that it has released 500 million dollars to various sectors in its determination to address the backlog of verified foreign exchange transactions.
On Sunday, the Nigerian National Petroleum Company Limited announced its intention to utilize the $3.3 billion loan obtained from the African Export-Import Bank to meet its operational needs and pay upfront tax and royalties accruable to Nigeria.
Afreximbank has arranged a syndicated US$3.3 billion crude oil prepayment facility sponsored by the NNPCL.
