Facts have emerged on how the United Bank for Africa (UBA)-led consortium of Nigerian commercial and international lenders involved in a $1.5 billion Pre-Export Finance Facility for the Nigerian National Petroleum Corporation (NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC) will be repaid. Other participants in the NNPC deal include Standard Chartered Bank, Afrexim Bank, Union Bank and two oil trading companies, Vitol and Matrix. “They would be repaid from an allocation of 30,000 barrels per day of NPDC’s crude oil,” a source close to the deal…
Read MoreHow UBA, Afrexim, Union Bank others’ll be repaid $1.5bn Oil Pre-Export loans by NNPC
