Nigeria: Ex-Im Bank Again Denies Approving Financing for Police Fund

12 July 2007
allAfrica.com

The Export-Import Bank of the United States (Ex-Im Bank) has responded to Nigerian press reports by reiterating that it has not at the present time authorized any financing for the Nigerian Police Equipment Foundation.

The bank issued a response to a report quoting Nigeria's Police Equipment Foundation as saying that it had secured a multi-million dollar credit line from the bank to finance large-scale housing estates for the Nigerian police.

The bank's statement said: "Contrary to several recent news reports quoting the coordinator of the Nigerian Police Equipment Foundation, there has been no change in the status of the letter of interest issued by the Export-Import Bank of the United States (Ex-Im Bank) for this project. Ex-Im Bank has not authorized any financing for the Nigerian Police Equipment Foundation at the present time."

This is the second time the bank has disputed reports quoting the foundation as suggesting it had already secured funding.

Read the July 4 report

Read Ex-Im Bank's Statement from May

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