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Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu - Politics - Nairaland

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Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by ganisucks(f): 5:56pm On Aug 30, 2023
The $3 billion crude repayment loan the Nigerian National Petroleum Corporation (NNPC) Limited announced it sealed with the African Export-Import (Afrexim) Bank has reportedly stalled as other lenders that were supposed to be a part of the syndicated transaction are said to have backed out sources tell MoneyCentral.

“Afrexim was supposed to put down only $250 million which was to help bring on board other lenders as they are already heavily exposed to Nigeria and have obligor limits. The NNPC MD Mele Kyari then announced the money was to be used to shore up the naira and other lenders got cold feet,” a source told MoneyCentral.

There is no mention of the deal on Afrexim Bank’s website a search by MoneyCentral showed. Meanwhile the Central Bank of Nigeria (CBN) gross reserves have not seen any accretion, and are down 0.2% to $33.68 billion since the announcement was made on August 16th.

The West African region already accounted for 45% of loans from the Afrexim Bank as at the first quarter of 2023, according to data from its financials.

“Perhaps the NNPC MD was eager to please the new Nigerian President Bola Tinubu with the announcement, however the deal has stalled based on the rushed announcement. Nigeria’s finances are in tatters, oil theft is a major problem, so financiers are understandably not keen,” the source said.

https://moneycentral.com.ng/exclusive/article/nnpc-3bn-afrexim-loan-deal-stalls-as-lenders-hesitate/
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by TemplarLandry: 5:57pm On Aug 30, 2023
cool
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by ganisucks(f): 5:57pm On Aug 30, 2023
Kikiki... 😆😅🤣😂

SWAGA go see pepper. The next time those people hear general election, dem go borrow leg run comot like Ben Johnson.

8 Likes 1 Share

Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Tobbas: 5:58pm On Aug 30, 2023
No transparency in governance. Nothing. Wonder how a sane person will be supporting this type of system

6 Likes 2 Shares

Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by OkpaNsukkaisBae(m): 5:59pm On Aug 30, 2023
law
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by id911(m): 6:00pm On Aug 30, 2023
The military regime in Niger has more legitimacy than the eBola regime in Nigeria.

11 Likes 2 Shares

Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by accordadoga26(f): 6:01pm On Aug 30, 2023
Hahahakikiki
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Kukutenla: 6:07pm On Aug 30, 2023
But some zombies said it's not a loan
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by gaby(m): 6:26pm On Aug 30, 2023
Another somersault...

6 Likes 3 Shares

Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by plaindealer: 6:26pm On Aug 30, 2023
Stalls is the new definition for cancel?

Nigeria's number one problem is her ignorant and uneducated youths.

13 Likes

Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Racoon(m): 6:29pm On Aug 30, 2023
And when did the NNPC starts collecting loans on behalf of the FG? Meanwhile, they were lying that IGR is about #1.3T while they go borrowing like bambiallah people them lies and propaganda have a beginning and end.

6 Likes 1 Share

Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Babanah: 6:31pm On Aug 30, 2023
As a Banker I know this is fake new. The loan is most certainly a Committed Facility.

3 Likes 1 Share

Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by LagosPrince: 6:39pm On Aug 30, 2023
This means that the lenders do not trust Tinubu with there money

What a shame 😂😆😂😆

7 Likes

Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by gammarays(m): 6:44pm On Aug 30, 2023
Scammers in government

Always rushing to release half baked news and statistics
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Burob: 6:46pm On Aug 30, 2023
LagosPrince:
This means that the lenders do not trust Tinubu with there money

What a shame 😂😆😂😆
Do not trust you Shameless Naija Thing, unless you can prove that you are from Togo?
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by maleekberry: 6:48pm On Aug 30, 2023
Nigeria is finished cheesy
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by funshint(m): 6:51pm On Aug 30, 2023
Another fake news from Ipob media grin

1 Like

Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by BoldBrainz(m): 8:01pm On Aug 30, 2023
plaindealer:
Stalls is the new definition for cancel?

Nigeria's number one problem is her ignorant and uneducated youths.

Let us decidedly ignore the ingredients of semantics as regards this subject.

If the loan deal had not been well rounded and signed to the point of "awaiting disbursement", what then was the essence of the announcement and it attendant paparazzi?

Why was the NNPC running roughshod to the point of throwing caution to the wind and announcing the Afrexim bank as the financier, when it was in fact meant to be a coalition of financiers, of which Afrexim was only shoving in less than a quarter of the lump sum?
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Babanah: 8:55pm On Aug 30, 2023
The Agent (Afreximbank) could not have signed an agreement with NNPCL without separate agreement among the other Club Lenders.
So whenever a drawdown request is received, it should be honoured by the Agent. Any nonfunding of the drawdown request will be a matter between the Agent Bank and the particular Lender.
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by hisexcellency34: 10:25pm On Aug 30, 2023
Build Nigeria Economy like you built Lagos

2 Likes

Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Ofunaofu: 10:36pm On Aug 30, 2023
gaby:
Another somersault...

Somersault after somersault
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by igwebuike01: 11:22pm On Aug 30, 2023
They know that e-bola will soon be kicked out
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Chinkoalhaji34: 1:30am On Aug 31, 2023
Fake news from aba made blog.
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Salewa97: 1:36am On Aug 31, 2023
I'm glad Tinubu is taking the necessary steps to ensure that Nigeria's economy is taken care of!.

By the way, this news sound so fake. Even the url for the link seems somehow. It’s not on any frontline media channel.
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Shadomaan7: 2:37am On Aug 31, 2023
I'm glad to see that Afrexim Bank has cancelled the 3billion NNPC loan, it shows that Jagaban of Borgu is taking the right steps to ensure the country's economic stability.

1 Like

Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Philipponzaghi: 2:47am On Aug 31, 2023
Baba Tinubu has been a great leader for our country and this move by Afrexim Bank shows his commitment to making sure that Nigeria's finances are properly managed.

1 Like

Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by AntiTerrorist: 4:19am On Aug 31, 2023
ganisucks:

The West African region already accounted for 45% of loans from the Afrexim Bank as at the first quarter of 2023, according to data from its financials.

Nigeria’s finances are in tatters, oil theft is a major problem, so financiers are understandably not keen,” the source said.
https://moneycentral.com.ng/exclusive/article/nnpc-3bn-afrexim-loan-deal-stalls-as-lenders-hesitate/

It is with Nigeria.
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by plaindealer: 4:29am On Aug 31, 2023
BoldBrainz:


Let us decidedly ignore the ingredients of semantics as regards this subject.

If the loan deal had not been well rounded and signed to the point of "awaiting disbursement", what then was the essence of the announcement and it attendant paparazzi?

Why was the NNPC running roughshod to the point of throwing caution to the wind and announcing the Afrexim bank as the financier, when it was in fact meant to be a coalition of financiers, of which Afrexim was only shoving in less than a quarter of the lump sum?


You don't get to ask me to ignore my point just because of whatever point you are trying to prove, you are free to debate that with yourself or other people.

My issue is the OP's ignorance, lies, deception and bait and switch crookedness.

The title is different from the story and content.
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Finestgurlie(f): 5:04am On Aug 31, 2023
plaindealer:
Stalls is the new definition for cancel?

Nigeria's number one problem is her ignorant and uneducated youths.
Hahahahaha
e pain am ooo
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Blitzking: 5:44am On Aug 31, 2023
ganisucks:


https://moneycentral.com.ng/exclusive/article/nnpc-3bn-afrexim-loan-deal-stalls-as-lenders-hesitate/

How does this work...borrow dollars to pay in dollar to save your currency and keep saying subsidy is allowing you save extra.( worthless extra)
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Yankee101: 6:00am On Aug 31, 2023
I hope this is true cos that money will be stolen
Nigerians don’t want that loan cos it won’t be used for Nigerians
Re: Afrexim Bank Cancels $3billion NNPC loan, concerns over Rush To Please Tinubu by Bigkoko: 6:04am On Aug 31, 2023
In an early post I said the comments by government officials and reason for borrowing is stupid:

Borrowing in USD to stabilize the Naira! Such a stupid reason. But Sha most likely expected of elements associated with Asiwaju!

A serious o level economics student would tell you the folly of that comment, but what do you expect from fake leaders who rode themselves to power, rather than through the will of the people!


In case you don't know. Politics 601... Masters levels have begun. The financiers already know HE Peter Obi would be sworn in, been a stoic, prudent and fiscally responsible leader known as "aka gum" he will definitely look deeper before honoring the Terms Conditions of the loan.

Asiwaju is going. This is fact. The POTUS Biden will issue him his Black spot and the rest is history!

HE Peter Obi is coming and will arrest all these incessant throves of coups.as through his appeal, Nigerian patriots will gladly enlist in the army to remove any military junta that refused to allow democracy!





ganisucks:


https://moneycentral.com.ng/exclusive/article/nnpc-3bn-afrexim-loan-deal-stalls-as-lenders-hesitate/

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