NNPC Ltd Secures $3B Emergency Crude Repayment Loan from AFREXIM Bank

The NNPC Ltd. and AFREXIM Bank have jointly signed a commitment letter and Term sheet for an emergency $3billion crude oil repayment loan.

The signing, which took place on Wednesday at the bank’s headquarters in Cairo, Egypt, will provide some immediate disbursement that will enable the NNPC Ltd. to support the Federal Government in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market.

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