The NNPCL had on August 16, 2023, secured a three point three billion dollar emergency crude repayment loan, a transaction aimed at supporting the naira and stabilising the foreign exchange market.
Arranged by the African Export-Import Bank, the said crude-for-cash loan was also targeted at supporting the Federal Government’s monetary and fiscal reforms.
Three weeks ago, the Federal Government received two point two five billion dollars out of the three point three billion dollar FX facility from the African Export-Import Bank
Reacting, Atiku in a statement wondered why the only information available to the public on the mega-deal is coming only through sources from the NNPCL.
The former Vice President said a Special Purpose Vehicle called Project Gazelle Funding Limited is driving the deal, and it was incorporated in the Bahamas.
He insisted that there are questions to be answered on the integrity of this deal, and charged the Federal Government to talk directly on details behind the deal.
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