By Tony Obiechina, Abuja
The Federal Government has received a $2.25b foreign exchange support facility from the African Import-Export Bank.
The Minister of Finance, Wale Edun, who confirmed this during a television interview, on Friday, said it is the first tranche of the $3.3bn facility from the bank.
He noted that the loan was aimed at resolving the acute FX shortage that has hampered the economy.
According to him, the balance of $1.05bn will be received in the first week of January, 2024.
In August, the Nigerian National Petroleum Company Limited announced that it had secured a $3bn emergency loan from the Afreximbank to stabilise the country’s volatile foreign exchange market. READ ALSO:
- How We Discovered Ogogo Had Cancer — Aide
- Phyna Knocks Out Nkechi Blessing As Carter Efe Defeats Speed Darlington In Celebrity Boxing
- Gunmen abduct passengers in fresh attack on Onitsha-Owerri road
- Bandits kill resident, abduct nine in Independence Day attack
- Canada to announce new immigration targets for 2027–2029
