The initial loan tranche of US$2.25 billion to Nigeria is made possible by UBA and Afrexim.
The African Export-Import Bank (Afrexim Bank), acting as the local arranger, United Bank for Africa (UBA), has disbursed Nigeria's first tranche of the US$2.5 billion facility. This major US$2.5 billion liquidity assistance facility for Nigeria has been authorized to be arranged locally by UBA, a well-known member of the FUGAZ group. As the Mandated Lead Arranger for the structured financing facility, Afrexim Bank is essential to this financial endeavor.
Guvnor and Sahara Energy are also included in the arrangement as important parties to the transaction, emphasizing the cooperative efforts of several stakeholders.
January 2024 is when the facility's remaining balance of US$1.05 billion is expected to be released. Furthermore, we are aware of further initiatives to destabilize the foreign currency (FX) market. spearheading domestic and African-focused organizations are spearheading and actively working to find answers to Nigeria's economic problems.
