FG Receives $2.25bn Afrexim Bank Loan
By Nafisat Bello
The Federal Government on Friday received a $2.25b foreign exchange support facility from the African Import-Export Bank.
The Minister of Finance, Wale Edun, who confirmed this to Arise TV, said it is the first tranche of the $3.3bn facility from the bank.
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He noted that the loan was aimed at resolving the acute FX shortage that has hampered the economy.
According to the report monitored by our correspondent, the balance of $1.05bn will be received in the first week of January.
In August, the Nigerian National Petroleum Company Limited announced that it had secured a $3bn emergency loan from the Afrexim Bank to stabilise the country’s volatile foreign exchange market.
