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African Development Bank (Abidjan)

Nigeria: AfDB Addresses Need for Trade Finance & Dollar Liquidity

Back in June, African Development Bank trade finance loan facilities went to two Nigerian banks: a USD $300-million to First Bank of Nigeria (FBN) and USD 50-million to FSDH Merchant Bank Nigeria (FSDH). They were part of the AfDB effort to support vital sectors of the Nigerian economy at a time of falling commodity prices, which has caused shortages in foreign currency supply and has led to unmet demand for trade financing. More about the AfDB in this BRIEFING

First Bank, Nigeria, Lagos. FBN is Nigeria’s oldest and largest banking institution with over 960 branches (including 750 in Nigeria) across 12 countries. It is a leading provider of trade finance in Nigeria and a strong financier of the SME sector.

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