Nigeria: NUPENG, an Umbrella Body of Junior Oil Workers, Comprises Petroleum Tanker

4 March 2015

The current scarcity arising from unpaid subsidy claims, has also been blamed partly on two recent directives by the Central Bank of Nigeria (CBN), concerning the devaluation of naira.

One of the directives, according to the marketers, was issued around the end of December 2014, where the CBN directed the banks to reduce their transactions with oil companies to curb the challenges of meeting the huge funding demand of these companies and also address other liquidity issues.

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