Standard Chartered started syndicating term loan on Feb. 3 for Union Bank of Nigeria, according to e-mailed statements from the arranger. * Tenor: 3y * Margin: L+450 bps * Repayment: amortizing after 1y grace period * Debt will finance bank’s U.S. dollar trade finance business and general funding requirements * […]
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Naira Slides as Reserves Fall After Central Bank Limit Lifted
Nigeria’s currency fell for a third day after the central bank lifted limits on sales of dollars to foreign-exchange bureaus by banks and its currency reserves dropped to a 15-month low. The naira weakened as much as 0.9 percent to the lowest level since Sept. 16, according to data compiled […]
Foreign direct investment drops by 41% –CBN
Foreign direct investment inflows into the country dropped from $1.46bn in the second quarter to $0.86bn in the third quarter of last year, according to the External Sector Development third quarter report released by the Central Bank of Nigeria on Tuesday. The development represented a 41.4 per cent fall in […]
