NNPC Secures $5bn Funding From Afreximbank For Upstream Business   The Nigerian National Petroleum Company Limited (NNPC) has secured a $5 billion corporate finance commitment from the African Export-Import Bank (Afreximbank) to fund major investments in Nigeria’s upstream sector. The funding commitment was sequel to a meeting...

Amid Currency Crisis, Reserves Gain $5bn In 2021   Amid currency crisis and fluctuation in oil prices, the country’s gross foreign reserves dipped by nearly $600 million in December alone. This raises fresh concern about the short to medium-term stability of the foreign exchange market. The figure...

Nigeria Loses $5bn To Gold Smuggling In Six Years   The Federal Government says Nigeria has lost $5bn to gold smuggling activities in six years. The Minister of Mines and Steel Development, Dr Uche Ogar, who made the disclosure at the State House on Wednesday, said the...

External Reserves Gained $5bn In October - CBN   Nigeria’s external reserves rose by $5.05bn in October, the latest data from the Central Bank of Nigeria showed on Wednesday. The reserves increased from $36.78bn on September 30 to $41.83bn as of October 29. The Deputy Governor, Financial Systems...

COVID-19 Wiped Off $5bn Diasporan Remittances - FG       THE Federal Government has said that the COVID-19 pandemic has wiped off 20 per cent from the $25bn annual diasporan remittances to Nigeria. The government noted that various targeted programmes were being implemented to shore up the deficit. Disclosing...

AfDB, Afreximbank Reports Reveal $5bn Capital Outflow In 2020       The African Trade Finance Survey report has revealed that there were massive capital outflows from Africa, exceeding $5bn in the first quarter of 2020. The report by the African Export-Import Bank, in collaboration with the United Nations...