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  •  The following are the dollar to naira exchange rate in Lagos Nigeria today It also includes the Naira Back Market rates Bureau De Change BDC rate and Central Bank of Nigeria CBN rates nbsp https www youtube com watch v T_Pmf3rRxvc nbsp nbsp Dollars to Naira The following are the dollar to naira current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying United States dollars USD at the parallel unofficial market Dollars to Naira USD to NGN Exchange Rate Today Buying Rate 770 Selling Rate 775 nbsp gggggg nbsp Pounds to Naira The following are the current pounds to naira black market rates today of Bureau De Change BDC operators in Lagos for selling and buying Great Britain Pound Sterling at the parallel unofficial market Pounds to Naira GBP to NGN Exchange Rate Today Buying Rate 910 Selling Rate 920 nbsp gggggg nbsp Euro to Naira The following are the current Euro to naira black market rates today of Bureau De Change BDC operators in Lagos for selling and buying Euros at the parallel unofficial market Euro to Naira CAD to NGN Black Market Exchange Rate Today Buying Rate 760 Selling Rate 770 nbsp gggggg Canadian Dollar to Naira The following are the current CAD to naira black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Canadian Dollars at the parallel unofficial market Canadian Dollar to Naira CAD to NGN Black Market Exchange Rate Today Buying Rate 540 Selling Rate 560 nbsp gggggg Rand to Naira The following are the current Rand to naira black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Rand to Naira at the parallel unofficial market Rand to Naira ZAR to NGN Black Market Exchange Rate Today Buying Rate 31 Selling Rate 38 nbsp gggggg Dirham to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Dirham to Naira at the parallel unofficial market Dirham to Naira AED to NGN Black Market Exchange Rate Today Buying Rate 155 Selling Rate 165 nbsp gggggg nbsp Yuan to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Yuan to Naira at the parallel unofficial market Yuan to Naira CNY to NGN Black Market Exchange Rate Today Buying Rate 80 Selling Rate 90 nbsp gggggg nbsp Ghanaian Cedi to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Ghanaian Cedi to Naira at the parallel unofficial market Cedi to Naira GHS to NGN Black Market Exchange Rate Today Buying Rate 65 Selling Rate 75 nbsp gggggg West African CFA franc to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying West African CFA franc to Naira at the parallel unofficial market Dirham to Naira XOF to NGN Black Market Exchange Rate Today Buying Rate 945 Selling Rate 965 nbsp nbsp Central African CFA franc to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Central African CFA franc to Naira at the parallel unofficial market CFA to Naira XAF to NGN Black Market Exchange Rate Today Buying Rate 900 Selling Rate 920 nbsp CBN Official Naira Exchange Rates The exchange rate between the Naira and the US dollar according to the data posted on the Central Bank of Nigeria CBN Currency Exchange Rate where forex is official Date Currency Buying NGN Central NGN Selling NGN 11 22 2022 US DOLLAR 442 76 443 26 443 76 11 22 2022 POUNDS STERLING 525 7775 526 3713 526 965 11 22 2022 EURO 454 5374 455 0507 455 564 11 22 2022 SWISS FRANC 463 6716 464 1952 464 7188 11 22 2022 YEN 3 1359 3 1395 3 143 11 22 2022 CFA 0 6719 0 6819 0 6919 11 22 2022 WAUA 576 3837 577 0346 577 6855 11 22 2022 YUAN RENMINBI 62 0103 62 0808 62 1513 11 22 2022 RIYAL 117 8023 117 9353 118 0684 11 22 2022 SOUTH AFRICAN RAND 25 6548 25 6837 25 7127 11 22 2022 DANISH KRONA 61 0998 61 1688 61 2378 11 22 2022 SDR 577 4033 578 0554 578 7074 11 21 2022 US DOLLAR 442 63 443 13 443 63 11 21 2022 POUNDS STERLING 522 6132 523 2036 523 7939 11 21 2022 EURO 453 4744 453 9867 454 4989 11 21 2022 SWISS FRANC 461 9391 462 4609 462 9827 11 21 2022 YEN 3 1171 3 1206 3 1242 11 21 2022 CFA 0 6795 0 6895 0 6995 11 21 2022 WAUA 579 6684 580 3232 580 978 11 21 2022 YUAN RENMINBI 61 7594 61 8296 61 8998 11 21 2022 RIYAL 117 7646 117 8976 118 0306 11 21 2022 SOUTH AFRICAN RAND 25 4593 25 488 25 5168 11 21 2022 DANISH KRONA 60 954 61 0229 61 0918 11 21 2022 SDR 580 9519 581 6081 582 2644 11 18 2022 US DOLLAR 442 49 442 99 443 49 Date Currency Buying NGN Central NGN Selling NGN nbsp Click here for more of the CBN Naira Exchange rate historical data nbsp GTBank Naira Exchange Rates Bank Currency Rate Date GTBank USD to Naira 490 16 10 2022 nbsp First Bank Naira Exchange Rates Currency Rate Date GBP 706 05 09 2022 EUR 602 18 07 2022 CAD 466 18 07 2022 USD 500 04 07 2022 INR 5 80 01 05 2021 RUB 6 20 01 05 2021 nbsp Access Bank Naira Exchange Rates Currency Rate Date USD To Naira 505 30 04 2022 EUR To Naira 531 31 08 2021 GBP To Naira 621 28 08 2021 CAD To Naira 357 18 08 2021 ZAR To Naira 31 18 08 2021 INR To Naira 6 18 08 2021 TRY To Naira 52 18 08 2021 AUD To Naira 299 01 05 2021 RUB To Naira 7 10 01 05 2021 SGD To Naira 268 01 05 2021 AED To Naira 109 26 11 2020 XOF To Naira 800 15 08 2020 nbsp UBA Naira Exchange Rates Currency Rate Date INR To Naira 6 12 15 10 2022 USD To Naira 503 29 04 2022 EUR To Naira 566 31 08 2021 GBP To Naira 622 23 07 2021 CAD To Naira 316 01 05 2021 AED To Naira 119 08 08 2020 nbsp Ecobank Naira Exchange Rates Currency Rate Date USD To Naira 480 23 03 2022 GBP To Naira 621 23 07 2021 EUR To Naira 499 45 16 06 2021 AED To Naira 107 15 08 2020 CAD To Naira 299 30 06 2020 INR To Naira 5 9 25 06 2020 nbsp Stanbic Bank Naira Exchange Rates Currency Rate Date USD To Naira 475 21 01 2022 EUR To Naira 543 22 07 2021 GBP To Naira 646 03 06 2021 CAD To Naira 337 01 05 2021 TRY To Naira 69 01 05 2021 nbsp nbsp Convert US Dollar to Nigerian Naira 1 USD Dollar is 442 134 NGN USD NGN 1 USD 442 134 NGN 5 USD 2 210 67 NGN 10 USD 4 421 34 NGN 25 USD 11 053 4 NGN 50 USD 22 106 7 NGN 100 USD 44 213 4 NGN 500 USD 221 067 NGN 1 000 USD 442 134 NGN 5 000 USD 2 210 670 NGN 10 000 USD 4 421 340 NGN 50 000 USD 22 106 700 NGN nbsp Convert Nigerian Naira to US Dollar NGN USD 1 NGN 0 00226176 USD 5 NGN 0 0113088 USD 10 NGN 0 0226176 USD 25 NGN 0 0565439 USD 50 NGN 0 113088 USD 100 NGN 0 226176 USD 500 NGN 1 13088 USD 1 000 NGN 2 26176 USD 5 000 NGN 11 3088 USD 10 000 NGN 22 6176 USD 50 000 NGN 113 088 USD nbsp 1 US Dollar to Nigerian Naira stats Last 30 Days Last 90 Days High 442 67 442 67 Low 436 36 420 31 Average 439 32 432 43 Volatility 0 10 0 10 nbsp The following are the euro to dollar exchange rates today It also includes the euro to pounds exchange rates euro to yen exchange rates and euro to naira exchange rates among others nbsp Convert Euro to US Dollar EUR USD 1 EUR 1 04179 USD 5 EUR 5 20895 USD 10 EUR 10 4179 USD 25 EUR 26 0447 USD 50 EUR 52 0895 USD 100 EUR 104 179 USD 500 EUR 520 895 USD 1 000 EUR 1 041 79 USD 5 000 EUR 5 208 95 USD 10 000 EUR 10 417 9 USD 50 000 EUR 52 089 5 USD nbsp Convert US Dollar to Euro The following is the current United States Dollar USD conversion to Euro USD EUR 1 USD 0 959887 EUR 5 USD 4 79943 EUR 10 USD 9 59887 EUR 25 USD 23 9972 EUR 50 USD 47 9943 EUR 100 USD 95 9887 EUR 500 USD 479 943 EUR 1 000 USD 959 887 EUR 5 000 USD 4 799 43 EUR 10 000 USD 9 598 87 EUR 50 000 USD 47 994 3 EUR nbsp 1 Euro to US Dollar stats Last 30 Days Last 90 Days High 1 0395 1 0395 Low 0 97498 0 95960 Average 1 0104 0 99545 Volatility 0 81 0 70 Convert US Dollar to Euro USD EUR 10 USD 9 75844 EUR 25 USD 24 3961 EUR 50 USD 48 7922 EUR 100 USD 97 5844 EUR nbsp nbsp nbsp FAQ Q What is the Dollar worth against the Nigerian Naira A One Dollar is worth 442 655 Nigerian Naira today nbsp Q Is the Dollar going up or down against the Nigerian Naira A Today s exchange rate 442 655 is lower compared to yesterday s rate 442 8151 nbsp Q What are 50 Dollars in Nigerian Naira A 50 Dollars buys 22132 75 Nigerian Naira at interbank exchange rates nbsp Q How much is 100 US in euro A 100 USD is currently equal to 97 5844 EUR Aboki FX The Central Bank of Nigeria CBN has said it is investigating Oniwinde Adedotun the founder of abokiFX Sources within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange transactions AbokiFX is a web platform that reports movements in the foreign exchange market since as early as 2014 On Thursday 16th of September 2021 abokiFX reported that the naira was trading at 570 to the dollar at the parallel market An insider familiar with the events said that unusual forex transactions were found in his account suggesting the promoters of the platform have been involved in illegal forex trading The apex bank is said to be investigating seven accounts belonging to Adedotun and abokiFX vetting every forex transaction from 2019 to 2021 Reports on social media claim that Adedotun is being investigated for foreign exchange rate manipulation but another source within the bank said he could not confirm the rumors There would be a lot more clarity after the next monetary policy committee MPC meeting tomorrow the source said AbokiFX registered in Arizona United States is the 63rd most visited website in Nigeria as of September 16 2021 nbsp Disclaimer This article does not set or determine forex rates The official NAFEX rates are obtained from the website of the FMDQOTC Parallel market rates black market rates are obtained from various sources including online media outlets The rates you buy or sell forex may be different from what is captured in this article nbsp Last Updated on 2022 11 30 11 41 03
    Naira Black Market Exchange Rate Today
     The following are the dollar to naira exchange rate in Lagos Nigeria today It also includes the Naira Back Market rates Bureau De Change BDC rate and Central Bank of Nigeria CBN rates nbsp https www youtube com watch v T_Pmf3rRxvc nbsp nbsp Dollars to Naira The following are the dollar to naira current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying United States dollars USD at the parallel unofficial market Dollars to Naira USD to NGN Exchange Rate Today Buying Rate 770 Selling Rate 775 nbsp gggggg nbsp Pounds to Naira The following are the current pounds to naira black market rates today of Bureau De Change BDC operators in Lagos for selling and buying Great Britain Pound Sterling at the parallel unofficial market Pounds to Naira GBP to NGN Exchange Rate Today Buying Rate 910 Selling Rate 920 nbsp gggggg nbsp Euro to Naira The following are the current Euro to naira black market rates today of Bureau De Change BDC operators in Lagos for selling and buying Euros at the parallel unofficial market Euro to Naira CAD to NGN Black Market Exchange Rate Today Buying Rate 760 Selling Rate 770 nbsp gggggg Canadian Dollar to Naira The following are the current CAD to naira black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Canadian Dollars at the parallel unofficial market Canadian Dollar to Naira CAD to NGN Black Market Exchange Rate Today Buying Rate 540 Selling Rate 560 nbsp gggggg Rand to Naira The following are the current Rand to naira black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Rand to Naira at the parallel unofficial market Rand to Naira ZAR to NGN Black Market Exchange Rate Today Buying Rate 31 Selling Rate 38 nbsp gggggg Dirham to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Dirham to Naira at the parallel unofficial market Dirham to Naira AED to NGN Black Market Exchange Rate Today Buying Rate 155 Selling Rate 165 nbsp gggggg nbsp Yuan to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Yuan to Naira at the parallel unofficial market Yuan to Naira CNY to NGN Black Market Exchange Rate Today Buying Rate 80 Selling Rate 90 nbsp gggggg nbsp Ghanaian Cedi to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Ghanaian Cedi to Naira at the parallel unofficial market Cedi to Naira GHS to NGN Black Market Exchange Rate Today Buying Rate 65 Selling Rate 75 nbsp gggggg West African CFA franc to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying West African CFA franc to Naira at the parallel unofficial market Dirham to Naira XOF to NGN Black Market Exchange Rate Today Buying Rate 945 Selling Rate 965 nbsp nbsp Central African CFA franc to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Central African CFA franc to Naira at the parallel unofficial market CFA to Naira XAF to NGN Black Market Exchange Rate Today Buying Rate 900 Selling Rate 920 nbsp CBN Official Naira Exchange Rates The exchange rate between the Naira and the US dollar according to the data posted on the Central Bank of Nigeria CBN Currency Exchange Rate where forex is official Date Currency Buying NGN Central NGN Selling NGN 11 22 2022 US DOLLAR 442 76 443 26 443 76 11 22 2022 POUNDS STERLING 525 7775 526 3713 526 965 11 22 2022 EURO 454 5374 455 0507 455 564 11 22 2022 SWISS FRANC 463 6716 464 1952 464 7188 11 22 2022 YEN 3 1359 3 1395 3 143 11 22 2022 CFA 0 6719 0 6819 0 6919 11 22 2022 WAUA 576 3837 577 0346 577 6855 11 22 2022 YUAN RENMINBI 62 0103 62 0808 62 1513 11 22 2022 RIYAL 117 8023 117 9353 118 0684 11 22 2022 SOUTH AFRICAN RAND 25 6548 25 6837 25 7127 11 22 2022 DANISH KRONA 61 0998 61 1688 61 2378 11 22 2022 SDR 577 4033 578 0554 578 7074 11 21 2022 US DOLLAR 442 63 443 13 443 63 11 21 2022 POUNDS STERLING 522 6132 523 2036 523 7939 11 21 2022 EURO 453 4744 453 9867 454 4989 11 21 2022 SWISS FRANC 461 9391 462 4609 462 9827 11 21 2022 YEN 3 1171 3 1206 3 1242 11 21 2022 CFA 0 6795 0 6895 0 6995 11 21 2022 WAUA 579 6684 580 3232 580 978 11 21 2022 YUAN RENMINBI 61 7594 61 8296 61 8998 11 21 2022 RIYAL 117 7646 117 8976 118 0306 11 21 2022 SOUTH AFRICAN RAND 25 4593 25 488 25 5168 11 21 2022 DANISH KRONA 60 954 61 0229 61 0918 11 21 2022 SDR 580 9519 581 6081 582 2644 11 18 2022 US DOLLAR 442 49 442 99 443 49 Date Currency Buying NGN Central NGN Selling NGN nbsp Click here for more of the CBN Naira Exchange rate historical data nbsp GTBank Naira Exchange Rates Bank Currency Rate Date GTBank USD to Naira 490 16 10 2022 nbsp First Bank Naira Exchange Rates Currency Rate Date GBP 706 05 09 2022 EUR 602 18 07 2022 CAD 466 18 07 2022 USD 500 04 07 2022 INR 5 80 01 05 2021 RUB 6 20 01 05 2021 nbsp Access Bank Naira Exchange Rates Currency Rate Date USD To Naira 505 30 04 2022 EUR To Naira 531 31 08 2021 GBP To Naira 621 28 08 2021 CAD To Naira 357 18 08 2021 ZAR To Naira 31 18 08 2021 INR To Naira 6 18 08 2021 TRY To Naira 52 18 08 2021 AUD To Naira 299 01 05 2021 RUB To Naira 7 10 01 05 2021 SGD To Naira 268 01 05 2021 AED To Naira 109 26 11 2020 XOF To Naira 800 15 08 2020 nbsp UBA Naira Exchange Rates Currency Rate Date INR To Naira 6 12 15 10 2022 USD To Naira 503 29 04 2022 EUR To Naira 566 31 08 2021 GBP To Naira 622 23 07 2021 CAD To Naira 316 01 05 2021 AED To Naira 119 08 08 2020 nbsp Ecobank Naira Exchange Rates Currency Rate Date USD To Naira 480 23 03 2022 GBP To Naira 621 23 07 2021 EUR To Naira 499 45 16 06 2021 AED To Naira 107 15 08 2020 CAD To Naira 299 30 06 2020 INR To Naira 5 9 25 06 2020 nbsp Stanbic Bank Naira Exchange Rates Currency Rate Date USD To Naira 475 21 01 2022 EUR To Naira 543 22 07 2021 GBP To Naira 646 03 06 2021 CAD To Naira 337 01 05 2021 TRY To Naira 69 01 05 2021 nbsp nbsp Convert US Dollar to Nigerian Naira 1 USD Dollar is 442 134 NGN USD NGN 1 USD 442 134 NGN 5 USD 2 210 67 NGN 10 USD 4 421 34 NGN 25 USD 11 053 4 NGN 50 USD 22 106 7 NGN 100 USD 44 213 4 NGN 500 USD 221 067 NGN 1 000 USD 442 134 NGN 5 000 USD 2 210 670 NGN 10 000 USD 4 421 340 NGN 50 000 USD 22 106 700 NGN nbsp Convert Nigerian Naira to US Dollar NGN USD 1 NGN 0 00226176 USD 5 NGN 0 0113088 USD 10 NGN 0 0226176 USD 25 NGN 0 0565439 USD 50 NGN 0 113088 USD 100 NGN 0 226176 USD 500 NGN 1 13088 USD 1 000 NGN 2 26176 USD 5 000 NGN 11 3088 USD 10 000 NGN 22 6176 USD 50 000 NGN 113 088 USD nbsp 1 US Dollar to Nigerian Naira stats Last 30 Days Last 90 Days High 442 67 442 67 Low 436 36 420 31 Average 439 32 432 43 Volatility 0 10 0 10 nbsp The following are the euro to dollar exchange rates today It also includes the euro to pounds exchange rates euro to yen exchange rates and euro to naira exchange rates among others nbsp Convert Euro to US Dollar EUR USD 1 EUR 1 04179 USD 5 EUR 5 20895 USD 10 EUR 10 4179 USD 25 EUR 26 0447 USD 50 EUR 52 0895 USD 100 EUR 104 179 USD 500 EUR 520 895 USD 1 000 EUR 1 041 79 USD 5 000 EUR 5 208 95 USD 10 000 EUR 10 417 9 USD 50 000 EUR 52 089 5 USD nbsp Convert US Dollar to Euro The following is the current United States Dollar USD conversion to Euro USD EUR 1 USD 0 959887 EUR 5 USD 4 79943 EUR 10 USD 9 59887 EUR 25 USD 23 9972 EUR 50 USD 47 9943 EUR 100 USD 95 9887 EUR 500 USD 479 943 EUR 1 000 USD 959 887 EUR 5 000 USD 4 799 43 EUR 10 000 USD 9 598 87 EUR 50 000 USD 47 994 3 EUR nbsp 1 Euro to US Dollar stats Last 30 Days Last 90 Days High 1 0395 1 0395 Low 0 97498 0 95960 Average 1 0104 0 99545 Volatility 0 81 0 70 Convert US Dollar to Euro USD EUR 10 USD 9 75844 EUR 25 USD 24 3961 EUR 50 USD 48 7922 EUR 100 USD 97 5844 EUR nbsp nbsp nbsp FAQ Q What is the Dollar worth against the Nigerian Naira A One Dollar is worth 442 655 Nigerian Naira today nbsp Q Is the Dollar going up or down against the Nigerian Naira A Today s exchange rate 442 655 is lower compared to yesterday s rate 442 8151 nbsp Q What are 50 Dollars in Nigerian Naira A 50 Dollars buys 22132 75 Nigerian Naira at interbank exchange rates nbsp Q How much is 100 US in euro A 100 USD is currently equal to 97 5844 EUR Aboki FX The Central Bank of Nigeria CBN has said it is investigating Oniwinde Adedotun the founder of abokiFX Sources within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange transactions AbokiFX is a web platform that reports movements in the foreign exchange market since as early as 2014 On Thursday 16th of September 2021 abokiFX reported that the naira was trading at 570 to the dollar at the parallel market An insider familiar with the events said that unusual forex transactions were found in his account suggesting the promoters of the platform have been involved in illegal forex trading The apex bank is said to be investigating seven accounts belonging to Adedotun and abokiFX vetting every forex transaction from 2019 to 2021 Reports on social media claim that Adedotun is being investigated for foreign exchange rate manipulation but another source within the bank said he could not confirm the rumors There would be a lot more clarity after the next monetary policy committee MPC meeting tomorrow the source said AbokiFX registered in Arizona United States is the 63rd most visited website in Nigeria as of September 16 2021 nbsp Disclaimer This article does not set or determine forex rates The official NAFEX rates are obtained from the website of the FMDQOTC Parallel market rates black market rates are obtained from various sources including online media outlets The rates you buy or sell forex may be different from what is captured in this article nbsp Last Updated on 2022 11 30 11 41 03
    Naira Black Market Exchange Rate Today
    Sticky Post3 hours ago

    Naira Black Market Exchange Rate Today

    The following are the dollar to naira exchange rate in Lagos Nigeria today. It also includes the Naira Back Market rates, Bureau De Change (BDC) rate, and Central Bank of Nigeria (CBN) rates. https://www.youtube.com/watch?v=T_Pmf3rRxvc  

    Dollars to Naira

    The following are the dollar to naira current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying United States dollars (USD) at the parallel (unofficial) market.
    Dollars to Naira (USD to NGN)Exchange Rate Today
    Buying Rate₦770
    Selling Rate₦775
     gggggg 

    Pounds to Naira

    The following are the current pounds to naira black market rates today of Bureau De Change (BDC) operators in Lagos for selling and buying Great Britain Pound Sterling at the parallel (unofficial) market.
    Pounds to Naira (GBP to NGN)Exchange Rate Today
    Buying Rate₦910
    Selling Rate₦920
     gggggg 

    Euro to Naira

    The following are the current Euro to naira black market rates today of Bureau De Change (BDC) operators in Lagos for selling and buying Euros at the parallel (unofficial) market.
    Euro to Naira (CAD to NGN)Black Market Exchange Rate Today
    Buying Rate₦760
    Selling Rate₦770
     gggggg

    Canadian Dollar to Naira

    The following are the current CAD to naira black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Canadian Dollars at the parallel (unofficial) market.
    Canadian Dollar to Naira (CAD to NGN)Black Market Exchange Rate Today
    Buying Rate₦540
    Selling Rate₦560
     gggggg

    Rand to Naira

    The following are the current Rand to naira black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Rand to Naira at the parallel (unofficial) market.
    Rand to Naira (ZAR to NGN)Black Market Exchange Rate Today
    Buying Rate₦31
    Selling Rate₦38
     gggggg

    Dirham to Naira

    The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Dirham to Naira at the parallel (unofficial) market.
    Dirham to Naira (AED to NGN)Black Market Exchange Rate Today
    Buying Rate₦155
    Selling Rate₦165
     gggggg 

    Yuan to Naira

    The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Yuan to Naira at the parallel (unofficial) market.
    Yuan to Naira (CNY to NGN)Black Market Exchange Rate Today
    Buying Rate₦80
    Selling Rate₦90
     gggggg 

    Ghanaian Cedi to Naira

    The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Ghanaian Cedi to Naira at the parallel (unofficial) market.
    Cedi to Naira (GHS to NGN)Black Market Exchange Rate Today
    Buying Rate₦65
    Selling Rate₦75
     gggggg

    West African CFA franc to Naira 

    The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying West African CFA franc to Naira at the parallel (unofficial) market.
    Dirham to Naira (XOF to NGN)Black Market Exchange Rate Today
    Buying Rate₦945
    Selling Rate₦965
      

    Central African CFA franc to Naira

    The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Central African CFA franc to Naira at the parallel (unofficial) market.
    CFA to Naira (XAF to NGN)Black Market Exchange Rate Today
    Buying Rate₦900
    Selling Rate₦920
     

    CBN Official Naira Exchange Rates

    The exchange rate between the Naira and the US dollar according to the data posted on the Central Bank of Nigeria (CBN) Currency Exchange Rate where forex is official.

     Click here for more of the CBN Naira Exchange rate historical data. 

    GTBank Naira Exchange Rates

    BankCurrencyRateDate
    GTBankUSD to Naira₦ 49016/10/2022
     

    First Bank Naira Exchange Rates

    CurrencyRateDate
    GBP₦ 70605/09/2022
    EUR₦ 60218/07/2022
    CAD₦ 46618/07/2022
    USD₦ 50004/07/2022
    INR₦ 5.8001/05/2021
    RUB₦ 6.2001/05/2021
     

    Access Bank Naira Exchange Rates

    CurrencyRateDate
    USD To Naira₦ 50530/04/2022
    EUR To Naira₦ 53131/08/2021
    GBP To Naira₦ 62128/08/2021
    CAD To Naira₦ 35718/08/2021
    ZAR To Naira₦ 3118/08/2021
    INR To Naira₦ 618/08/2021
    TRY To Naira₦ 5218/08/2021
    AUD To Naira₦ 29901/05/2021
    RUB To Naira₦ 7.1001/05/2021
    SGD To Naira₦ 26801/05/2021
    AED To Naira₦ 10926/11/2020
    XOF To Naira₦ 80015/08/2020
     

    UBA Naira Exchange Rates

    CurrencyRateDate
    INR To Naira₦ 6.1215/10/2022
    USD To Naira₦ 50329/04/2022
    EUR To Naira₦ 56631/08/2021
    GBP To Naira₦ 62223/07/2021
    CAD To Naira₦ 31601/05/2021
    AED To Naira₦ 11908/08/2020
     

    Ecobank Naira Exchange Rates

    CurrencyRateDate
    USD To Naira₦ 48023/03/2022
    GBP To Naira₦ 62123/07/2021
    EUR To Naira₦ 499.4516/06/2021
    AED To Naira₦ 10715/08/2020
    CAD To Naira₦ 29930/06/2020
    INR To Naira₦ 5.925/06/2020
     

    Stanbic Bank Naira Exchange Rates

    CurrencyRateDate
    USD To Naira₦ 47521/01/2022
    EUR To Naira₦ 54322/07/2021
    GBP To Naira₦ 64603/06/2021
    CAD To Naira₦ 33701/05/2021
    TRY To Naira₦ 6901/05/2021
      
     

    1 US Dollar to Nigerian Naira stats

    Last 30 DaysLast 90 Days
    High
    442.67442.67
    Low
    436.36420.31
    Average
    439.32432.43
    Volatility
    0.10%0.10%
     The following are the euro to dollar exchange rates today. It also includes the euro to pounds exchange rates, euro to yen exchange rates, and euro to naira exchange rates among others. 

    1 Euro to US Dollar stats

    Last 30 DaysLast 90 Days
    High
    1.03951.0395
    Low
    0.974980.95960
    Average
    1.01040.99545
    Volatility
    0.81%0.70%
    Convert US Dollar to Euro
    USDEUR
    10 USD9.75844 EUR
    25 USD24.3961 EUR
    50 USD48.7922 EUR
    100 USD97.5844 EUR
       

    FAQ

    Q: What is the Dollar worth against the Nigerian Naira?

    A: One Dollar is worth 442.655 Nigerian Naira today 

    Q: Is the Dollar going up or down against the Nigerian Naira?

    A: Today's exchange rate (442.655) is lower compared to yesterday's rate (442.8151). 

    Q: What are 50 Dollars in Nigerian Naira?

    A: 50 Dollars buys 22132.75 Nigerian Naira at interbank exchange rates. 
    A: $100 USD is currently equal to 97.5844 EUR.

    Aboki FX

    The Central Bank of Nigeria (CBN) has said it is investigating Oniwinde Adedotun, the founder of abokiFX. Sources within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for “illegal foreign exchange transactions”. AbokiFX is a web platform that reports movements in the foreign exchange market since as early as 2014. On Thursday, 16th of September 2021,  abokiFX reported that the naira was trading at 570 to the dollar at the parallel market. An insider, familiar with the events, said that “unusual forex transactions” were found in his account, suggesting the promoters of the platform have been involved in illegal forex trading. The apex bank is said to be investigating seven accounts belonging to Adedotun and abokiFX, vetting every forex transaction from 2019 to 2021. Reports on social media claim that Adedotun is being investigated for foreign exchange rate manipulation, but another source within the bank said he could not confirm the rumors. “There would be a lot more clarity after the next monetary policy committee (MPC) meeting tomorrow,” the source said. AbokiFX, registered in Arizona, United States, is the 63rd most visited website in Nigeria as of September 16, 2021. 
    DisclaimerThis article does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article. 
    Last Updated on: 2022-11-30 11:41:03.

  •   MCB Capital Markets MCBCM a subsidiary of MCB Group https www MCB mu and Societe Generale C te d Ivoire SGCI through its Structured Finance Group for Sub Saharan Africa SFG AFS are pleased to announce that they acted as Co Lead Arrangers in raising approximately EUR 135 million to finance the acquisition of JA Delmas JAD the exclusive dealer for Caterpillar in francophone West Africa The Delmas family has held the representation for this iconic brand the world s leading manufacturer of yellow metal machinery for nearly a century This successful debt raise attests to the depth of MCB Group s capabilities including acting as Co Lead Arranger Security Agent Facility Agent Accounts Bank and largest Lender on the transaction It also reflects the robustness of the Mauritian International Financial Centre as a platform to structure and fund significant deals in Africa The transaction also bears testimony to the expertise of Societe Generale Group in West Africa and echoes its strengths in delivering strategic financing solutions for regional champions with SGCI acting as Co Lead Arranger and second largest Lender The acquirer is a newly incorporated Mauritius domiciled investment vehicle jointly owned by Jean Luc Konan founder of Groupe COFINA financial institution in West amp Central Africa and Mohamed Al Bahar MAB the Caterpillar dealership in five countries in the Arabian Gulf JAD operates in 11 countries with a turnover of approximately EUR 700 million and has over 2 000 employees Following this transaction the business will embark on an accelerated growth path led by its current Chief Executive and other senior managers who will remain with the business Through Groupe COFINA Jean Luc Konan the new Dealer Principal and Chairman will extend the group s reach in francophone West Africa while MAB will play a key role as technical partner Jean Luc Konan founder and Chief Executive of Groupe COFINA commented We made the right choice in appointing MCBCM and SGCI as Co Lead Arrangers Their teams worked through and led this transaction to completion with tenacity expertise and professionalism Rony Lam Chief Executive of MCB Capital Markets commented I wish to thank Jean Luc for his trust in such an important transaction for both himself and his partners JA Delmas has a rich history in West Africa and we are proud to have played a part at this junction Our team supported by MCB Group s broad range of capabilities has once again displayed its ability to execute cross border transactions which require solid technical skills and rigorous transaction management Kane Mohamed El Fadel Managing Director Regional Head of Capital Markets amp Structured Finance Sub Saharan Africa commented This acquisition financing is a perfect illustration of Societe Generale Group s strong footprint in Africa In order to accompany our clients we have built a strong team comprising of international and local experts with a combination of sector knowledge technical expertise structuring and execution capabilities to deliver optimal solutions Herbert Smith Freehills advised the consortium of lenders while Baubigeat Zeller Asafo amp Co and Allen amp Overy provided legal advice to the borrower Eponyme Partners a Paris based advisory firm acted as M amp A adviser to the buyer
    Mauritius Commercial Bank (MCB) Capital Markets and Societe Generale Côte d’Ivoire acted as Co-Lead Arrangers on the EUR 135 million debt financing for the acquisition of JA Delmas, Caterpillar dealer in West Africa
      MCB Capital Markets MCBCM a subsidiary of MCB Group https www MCB mu and Societe Generale C te d Ivoire SGCI through its Structured Finance Group for Sub Saharan Africa SFG AFS are pleased to announce that they acted as Co Lead Arrangers in raising approximately EUR 135 million to finance the acquisition of JA Delmas JAD the exclusive dealer for Caterpillar in francophone West Africa The Delmas family has held the representation for this iconic brand the world s leading manufacturer of yellow metal machinery for nearly a century This successful debt raise attests to the depth of MCB Group s capabilities including acting as Co Lead Arranger Security Agent Facility Agent Accounts Bank and largest Lender on the transaction It also reflects the robustness of the Mauritian International Financial Centre as a platform to structure and fund significant deals in Africa The transaction also bears testimony to the expertise of Societe Generale Group in West Africa and echoes its strengths in delivering strategic financing solutions for regional champions with SGCI acting as Co Lead Arranger and second largest Lender The acquirer is a newly incorporated Mauritius domiciled investment vehicle jointly owned by Jean Luc Konan founder of Groupe COFINA financial institution in West amp Central Africa and Mohamed Al Bahar MAB the Caterpillar dealership in five countries in the Arabian Gulf JAD operates in 11 countries with a turnover of approximately EUR 700 million and has over 2 000 employees Following this transaction the business will embark on an accelerated growth path led by its current Chief Executive and other senior managers who will remain with the business Through Groupe COFINA Jean Luc Konan the new Dealer Principal and Chairman will extend the group s reach in francophone West Africa while MAB will play a key role as technical partner Jean Luc Konan founder and Chief Executive of Groupe COFINA commented We made the right choice in appointing MCBCM and SGCI as Co Lead Arrangers Their teams worked through and led this transaction to completion with tenacity expertise and professionalism Rony Lam Chief Executive of MCB Capital Markets commented I wish to thank Jean Luc for his trust in such an important transaction for both himself and his partners JA Delmas has a rich history in West Africa and we are proud to have played a part at this junction Our team supported by MCB Group s broad range of capabilities has once again displayed its ability to execute cross border transactions which require solid technical skills and rigorous transaction management Kane Mohamed El Fadel Managing Director Regional Head of Capital Markets amp Structured Finance Sub Saharan Africa commented This acquisition financing is a perfect illustration of Societe Generale Group s strong footprint in Africa In order to accompany our clients we have built a strong team comprising of international and local experts with a combination of sector knowledge technical expertise structuring and execution capabilities to deliver optimal solutions Herbert Smith Freehills advised the consortium of lenders while Baubigeat Zeller Asafo amp Co and Allen amp Overy provided legal advice to the borrower Eponyme Partners a Paris based advisory firm acted as M amp A adviser to the buyer
    Mauritius Commercial Bank (MCB) Capital Markets and Societe Generale Côte d’Ivoire acted as Co-Lead Arrangers on the EUR 135 million debt financing for the acquisition of JA Delmas, Caterpillar dealer in West Africa
    Africa1 week ago

    Mauritius Commercial Bank (MCB) Capital Markets and Societe Generale Côte d’Ivoire acted as Co-Lead Arrangers on the EUR 135 million debt financing for the acquisition of JA Delmas, Caterpillar dealer in West Africa

    MCB Capital Markets (“MCBCM”), a subsidiary of MCB Group (https://www.MCB.mu), and Societe Generale Côte d’Ivoire (“SGCI”) through its Structured Finance Group for Sub-Saharan Africa (“SFG AFS”) are pleased to announce that they acted as Co-Lead Arrangers in raising approximately EUR 135 million to finance the acquisition of JA Delmas (“JAD”), the exclusive dealer for Caterpillar in francophone West Africa.

    The Delmas family has held the representation for this iconic brand, the world’s leading manufacturer of yellow metal machinery, for nearly a century.

    This successful debt raise attests to the depth of MCB Group’s capabilities, including acting as Co-Lead Arranger, Security Agent, Facility Agent, Accounts Bank and largest Lender on the transaction.

    It also reflects the robustness of the Mauritian International Financial Centre as a platform to structure and fund significant deals in Africa.

    The transaction also bears testimony to the expertise of Societe Generale Group in West Africa and echoes its strengths in delivering strategic financing solutions for regional champions, with SGCI acting as Co-Lead Arranger and second largest Lender.

    The acquirer is a newly incorporated Mauritius domiciled investment vehicle, jointly owned by Jean-Luc Konan, founder of Groupe COFINA (financial institution in West & Central Africa ), and Mohamed Al Bahar (“MAB”), the Caterpillar dealership in five countries in the Arabian Gulf.JAD operates in 11 countries with a turnover of approximately EUR 700 million and has over 2,000 employees.

    Following this transaction, the business will embark on an accelerated growth path led by its current Chief Executive and other senior managers, who will remain with the business.

    Through Groupe COFINA, Jean-Luc Konan, the new Dealer Principal, and Chairman will extend the group’s reach in francophone West Africa while MAB will play a key role as technical partner.

    Jean-Luc Konan, founder and Chief Executive of Groupe COFINA, commented: “We made the right choice in appointing MCBCM and SGCI as Co-Lead Arrangers.

    Their teams worked through and led this transaction to completion with tenacity, expertise, and professionalism.”Rony Lam, Chief Executive of MCB Capital Markets, commented: “I wish to thank Jean-Luc for his trust in such an important transaction for both himself and his partners.

    JA Delmas has a rich history in West Africa and we are proud to have played a part at this junction.

    Our team, supported by MCB Group’s broad range of capabilities, has once again displayed its ability to execute cross-border transactions, which require solid technical skills and rigorous transaction management.”Kane Mohamed El Fadel, Managing Director, Regional Head of Capital Markets & Structured Finance Sub-Saharan Africa, commented: “This acquisition financing is a perfect illustration of Societe Generale Group's strong footprint in Africa.

    In order to accompany our clients, we have built a strong team comprising of international and local experts with a combination of sector knowledge, technical expertise, structuring and execution capabilities to deliver optimal solutions.”Herbert Smith Freehills advised the consortium of lenders while Baubigeat Zeller, Asafo & Co and Allen & Overy provided legal advice to the borrower.

    Eponyme Partners, a Paris-based advisory firm, acted as M&A adviser to the buyer.

  •   The new 10 000 m2 airport hub is ready to support Africa s growing life sciences and healthcare LSH industry with safe reliable and efficient transportation and consolidation solutions Both the warehouse and the central office meet the highest sustainability standards and will be powered almost entirely by green electricity from photovoltaic panels DHL Global Forwarding the leading international provider of road air and ocean freight services opened a new trans shipment hub and head office in Johannesburg South Africa The sustainable complex mainly powered by solar energy was officially opened on Thursday September 22 2022 Located in the Sky Park Industrial Estate it offers easy access to the OR Tambo International Airport The facility s temperature controlled chambers and staff trained in Good Distribution Practices GDP allow the new center to meet the unique needs of Africa s rapidly advancing life sciences and healthcare LSH sector The opening of the facility marks an important addition to DHL Global Forwarding s extensive logistics network further strengthening its position on the African continent and in South Africa while enabling the group to handle its customers requirements more efficiently Amadou Diallo CEO of DHL Global Forwarding Middle East Africa said We are proud that this new facility has been built to the highest standards of sustainability and energy efficiency in line with DHL Global Forwarding s goal of achieving net zero emissions related to logistics by 2050 Our climate protection initiatives and CO2 emission reduction programs have already had a positive impact on global logistics supply chains and building sustainable infrastructure like this solar power facility brings us closer to our objetive The new EUR 7 million R127 million facility includes offices and a 10 000m2 warehouse It will serve as a hub for transportation logistics and warehousing solutions as well as international cargo expertise for different industries This includes a strong focus on Africa s life sciences and healthcare LSH sector which with an expected annual growth rate of 6 3 and projected revenue of 7 1bn by 2023 is a of the country s booming industries To serve the needs of the MSM sector the site has been designed to meet DHL Global GxP Pharma standards and the highest security standards of the Transported Assets Protection Association TAPA A At the facility s groundbreaking ceremony Clement Blanc DHL Global Forwarding s CEO for South Africa SA and Sub Saharan Africa SSA said A new facility in Johannesburg is a natural next step in our efforts to support growth economy and accelerate the pace of supply chain transformation taking place in South Africa This facility extends global connections to Africa ensuring sectors like LSH can operate smoothly access an efficient and reliable logistics network and continue to grow Blanc continued The strategic location of our new facilities at OR Tambo will allow us to improve our service offerings to customers We are excited to be able to transport time and temperature sensitive pharmaceuticals and healthcare products among other services I am confident in our ability to help our clients develop and expand their businesses and continue to help the socio economic growth of South Africa and the greater sub Saharan Africa region The new facility will also create skilled jobs in Johannesburg DHL Global Forwarding has expanded its total workforce in South Africa by 11 since 2021 The company also has a strong commitment to supporting and driving the participation of SMEs in the economy and ensuring they have a place in global supply chains
    DHL Global Forwarding invests EUR 7 million (R127 million) in new facilities and state-of-the-art headquarters in Johannesburg
      The new 10 000 m2 airport hub is ready to support Africa s growing life sciences and healthcare LSH industry with safe reliable and efficient transportation and consolidation solutions Both the warehouse and the central office meet the highest sustainability standards and will be powered almost entirely by green electricity from photovoltaic panels DHL Global Forwarding the leading international provider of road air and ocean freight services opened a new trans shipment hub and head office in Johannesburg South Africa The sustainable complex mainly powered by solar energy was officially opened on Thursday September 22 2022 Located in the Sky Park Industrial Estate it offers easy access to the OR Tambo International Airport The facility s temperature controlled chambers and staff trained in Good Distribution Practices GDP allow the new center to meet the unique needs of Africa s rapidly advancing life sciences and healthcare LSH sector The opening of the facility marks an important addition to DHL Global Forwarding s extensive logistics network further strengthening its position on the African continent and in South Africa while enabling the group to handle its customers requirements more efficiently Amadou Diallo CEO of DHL Global Forwarding Middle East Africa said We are proud that this new facility has been built to the highest standards of sustainability and energy efficiency in line with DHL Global Forwarding s goal of achieving net zero emissions related to logistics by 2050 Our climate protection initiatives and CO2 emission reduction programs have already had a positive impact on global logistics supply chains and building sustainable infrastructure like this solar power facility brings us closer to our objetive The new EUR 7 million R127 million facility includes offices and a 10 000m2 warehouse It will serve as a hub for transportation logistics and warehousing solutions as well as international cargo expertise for different industries This includes a strong focus on Africa s life sciences and healthcare LSH sector which with an expected annual growth rate of 6 3 and projected revenue of 7 1bn by 2023 is a of the country s booming industries To serve the needs of the MSM sector the site has been designed to meet DHL Global GxP Pharma standards and the highest security standards of the Transported Assets Protection Association TAPA A At the facility s groundbreaking ceremony Clement Blanc DHL Global Forwarding s CEO for South Africa SA and Sub Saharan Africa SSA said A new facility in Johannesburg is a natural next step in our efforts to support growth economy and accelerate the pace of supply chain transformation taking place in South Africa This facility extends global connections to Africa ensuring sectors like LSH can operate smoothly access an efficient and reliable logistics network and continue to grow Blanc continued The strategic location of our new facilities at OR Tambo will allow us to improve our service offerings to customers We are excited to be able to transport time and temperature sensitive pharmaceuticals and healthcare products among other services I am confident in our ability to help our clients develop and expand their businesses and continue to help the socio economic growth of South Africa and the greater sub Saharan Africa region The new facility will also create skilled jobs in Johannesburg DHL Global Forwarding has expanded its total workforce in South Africa by 11 since 2021 The company also has a strong commitment to supporting and driving the participation of SMEs in the economy and ensuring they have a place in global supply chains
    DHL Global Forwarding invests EUR 7 million (R127 million) in new facilities and state-of-the-art headquarters in Johannesburg
    Africa2 months ago

    DHL Global Forwarding invests EUR 7 million (R127 million) in new facilities and state-of-the-art headquarters in Johannesburg

    The new 10,000 m2 airport hub is ready to support Africa's growing life sciences and healthcare (LSH) industry with safe, reliable and efficient transportation and consolidation solutions; Both the warehouse and the central office meet the highest sustainability standards and will be powered almost entirely by green electricity from photovoltaic panels.

    DHL Global Forwarding, the leading international provider of road, air and ocean freight services, opened a new trans-shipment hub and head office in Johannesburg, South Africa.

    The sustainable complex, mainly powered by solar energy, was officially opened on Thursday, September 22, 2022.

    Located in the Sky Park Industrial Estate, it offers easy access to the "OR Tambo International Airport".

    The facility's temperature-controlled chambers and staff trained in Good Distribution Practices (GDP) allow the new center to meet the unique needs of Africa's rapidly advancing life sciences and healthcare (LSH) sector.

    The opening of the facility marks an important addition to DHL Global Forwarding's extensive logistics network, further strengthening its position on the African continent and in South Africa, while enabling the group to handle its customers' requirements more efficiently.

    Amadou Diallo, CEO of DHL Global Forwarding Middle East & Africa, said: “We are proud that this new facility has been built to the highest standards of sustainability and energy efficiency in line with DHL Global Forwarding's goal of achieving net zero emissions.

    related to logistics.

    by 2050.

    Our climate protection initiatives and CO2 emission reduction programs have already had a positive impact on global logistics supply chains and building sustainable infrastructure like this solar power facility brings us closer to our objetive".

    The new EUR 7 million (R127 million) facility includes offices and a 10,000m2 warehouse.

    It will serve as a hub for transportation, logistics and warehousing solutions, as well as international cargo expertise for different industries.

    This includes a strong focus on Africa's life sciences and healthcare (LSH) sector, which with an expected annual growth rate of 6.3% and projected revenue of €7.1bn by 2023, is a of the country's booming industries.

    To serve the needs of the MSM sector, the site has been designed to meet DHL Global GxP Pharma standards and the highest security standards of the Transported Assets Protection Association (TAPA A).

    At the facility's groundbreaking ceremony, Clement Blanc, DHL Global Forwarding's CEO for South Africa (SA) and Sub-Saharan Africa (SSA), said: “A new facility in Johannesburg is a natural next step in our efforts to support growth.

    economy and accelerate the pace of supply chain transformation taking place in South Africa.

    This facility extends global connections to Africa, ensuring sectors like LSH can operate smoothly, access an efficient and reliable logistics network, and continue to grow.

    Blanc continued: “The strategic location of our new facilities at 'OR Tambo' will allow us to improve our service offerings to customers.

    We are excited to be able to transport time- and temperature-sensitive pharmaceuticals and healthcare products, among other services.

    I am confident in our ability to help our clients develop and expand their businesses and continue to help the socio-economic growth of South Africa and the greater sub-Saharan Africa region.” The new facility will also create skilled jobs in Johannesburg.

    DHL Global Forwarding has expanded its total workforce in South Africa by 11% since 2021.

    The company also has a strong commitment to supporting and driving the participation of SMEs in the economy and ensuring they have a place in global supply chains.

  •   AfDB issues 1 25 bn benchmark social bond due Sept 2029 AfDB issues 1 25 bn benchmark social bond due Sept 2029 Bond By Temitope Ponle Abuja Sept 9 2922 The African Development Bank AfDB has launched and priced a new 1 25 billion euros seven year Global Benchmark transaction in a Social Bond format due Sept 14 2029 The AfDB in in a statement posted on its on Friday stated the bond launched on Wednesday pays a coupon of 2 250 per cent with a re offer yield of 2 310 per cent The new seven year EUR transaction marks the bank s second EUR Global Benchmark in 2022 following the one billion euros five year transaction issued in March extending further the bank s EUR curve Additionally the new line brings a new liquid and on the run reference point in the seven year part of AfDB s EUR curve refreshing a key benchmark maturity which the bank last visited in 2017 By issuing social bonds to finance socio economic development in its regional member countries the bank is advancing its mission and strategy to spur sustainable economic development and social progress in Africa and is capitalising on its strong track record of financing projects with strong social impact on the continent The eligible projects to be financed with the proceeds of this new EUR denominated Social Bond are expected to lead to poverty reduction and job creation as well as inclusive growth across age gender and geography thus improving the quality of life for the people of Africa the statement noted It said the AfDB s mandate for a new seven year EUR denominated Global SEC Exempt Benchmark was announced on Sept 6 at 13 00 London time with the issuer seizing the final clear window available in the euro market before the European Central Bank s ECB September meeting on Thursday Books officially opened the following morning on Sept 7 at 8 00 London time with Initial Price Thoughts released at mid swaps 2bps basis points area Investor demand was robust from the outset with the orderbook growing in excess of 1 8 billion euros by 9 35 London time supporting AfDB s move to set the spread tighter at mid swaps 3bps with books to go subject at 10 30 London time The final mid swap spread implied a new issue concession of 2bps relative to the bank s EUR curve Investor interest however continued to grow with the book closing in excess of 2 3 billion euros with 71 investors participating in the offering whilst the quality of the book firmly supported the launch of a EUR 1 25 billion transaction Notably at 2 3 billion euros the deal s orderbook represents AfDB s largest ever book for a EUR benchmark transaction Shortly thereafter at 14 10 London time the transaction officially priced at mid swaps 3bps equivalent to a reoffer yield of 2 310 per cent and a spread of 96 4bps vs the DBR Debt Burden Ratio 0 00 per cent August 2029 benchmark The distribution statistics are as follows The geographical distribution highlights a diversified investor base approximately with the majority of the book from Europe 56 7 per cent followed by the UK 22 6 per cent Asia 12 1 per cent Americas 8 2 per cent and Africa 0 4 per cent In terms of investor type the high quality orderbook was predominantly allocated to banks 40 2 per cent and Central Institutions 30 per cent and whilst Asset Managers Insurance Pension Funds 29 8 per cent rounded off the remainder of allocations Bond Summary Terms are as follows Issuer is the AfDB with Issuer Rating as Aaa AAA AAA AAA All Stable Size of bond 1 25 billion euros and the Pricing Date as of Sept 7 2022 Settlement Date of Sept 14 2022 and Maturity Date of Sept 14 2029 A Coupon of 2 250 per cent Spread to mid swaps of 3 basis points Spread to benchmark of 96 4 basis points re offer price of 99 616 per cent and a re offer yield of 2 310 per cent The Lead Managers are Barclays Citi JP Morgan and Soci t G n rale and the International Securities Identification Number is XS2532472235 NewsSourceCredit NAN
    AfDB issues €1.25 bn benchmark social bond due Sept. 2029
      AfDB issues 1 25 bn benchmark social bond due Sept 2029 AfDB issues 1 25 bn benchmark social bond due Sept 2029 Bond By Temitope Ponle Abuja Sept 9 2922 The African Development Bank AfDB has launched and priced a new 1 25 billion euros seven year Global Benchmark transaction in a Social Bond format due Sept 14 2029 The AfDB in in a statement posted on its on Friday stated the bond launched on Wednesday pays a coupon of 2 250 per cent with a re offer yield of 2 310 per cent The new seven year EUR transaction marks the bank s second EUR Global Benchmark in 2022 following the one billion euros five year transaction issued in March extending further the bank s EUR curve Additionally the new line brings a new liquid and on the run reference point in the seven year part of AfDB s EUR curve refreshing a key benchmark maturity which the bank last visited in 2017 By issuing social bonds to finance socio economic development in its regional member countries the bank is advancing its mission and strategy to spur sustainable economic development and social progress in Africa and is capitalising on its strong track record of financing projects with strong social impact on the continent The eligible projects to be financed with the proceeds of this new EUR denominated Social Bond are expected to lead to poverty reduction and job creation as well as inclusive growth across age gender and geography thus improving the quality of life for the people of Africa the statement noted It said the AfDB s mandate for a new seven year EUR denominated Global SEC Exempt Benchmark was announced on Sept 6 at 13 00 London time with the issuer seizing the final clear window available in the euro market before the European Central Bank s ECB September meeting on Thursday Books officially opened the following morning on Sept 7 at 8 00 London time with Initial Price Thoughts released at mid swaps 2bps basis points area Investor demand was robust from the outset with the orderbook growing in excess of 1 8 billion euros by 9 35 London time supporting AfDB s move to set the spread tighter at mid swaps 3bps with books to go subject at 10 30 London time The final mid swap spread implied a new issue concession of 2bps relative to the bank s EUR curve Investor interest however continued to grow with the book closing in excess of 2 3 billion euros with 71 investors participating in the offering whilst the quality of the book firmly supported the launch of a EUR 1 25 billion transaction Notably at 2 3 billion euros the deal s orderbook represents AfDB s largest ever book for a EUR benchmark transaction Shortly thereafter at 14 10 London time the transaction officially priced at mid swaps 3bps equivalent to a reoffer yield of 2 310 per cent and a spread of 96 4bps vs the DBR Debt Burden Ratio 0 00 per cent August 2029 benchmark The distribution statistics are as follows The geographical distribution highlights a diversified investor base approximately with the majority of the book from Europe 56 7 per cent followed by the UK 22 6 per cent Asia 12 1 per cent Americas 8 2 per cent and Africa 0 4 per cent In terms of investor type the high quality orderbook was predominantly allocated to banks 40 2 per cent and Central Institutions 30 per cent and whilst Asset Managers Insurance Pension Funds 29 8 per cent rounded off the remainder of allocations Bond Summary Terms are as follows Issuer is the AfDB with Issuer Rating as Aaa AAA AAA AAA All Stable Size of bond 1 25 billion euros and the Pricing Date as of Sept 7 2022 Settlement Date of Sept 14 2022 and Maturity Date of Sept 14 2029 A Coupon of 2 250 per cent Spread to mid swaps of 3 basis points Spread to benchmark of 96 4 basis points re offer price of 99 616 per cent and a re offer yield of 2 310 per cent The Lead Managers are Barclays Citi JP Morgan and Soci t G n rale and the International Securities Identification Number is XS2532472235 NewsSourceCredit NAN
    AfDB issues €1.25 bn benchmark social bond due Sept. 2029
    Economy3 months ago

    AfDB issues €1.25 bn benchmark social bond due Sept. 2029

    AfDB issues €1.25 bn benchmark social bond due Sept. 2029 AfDB issues €1.25 bn benchmark social bond due Sept. 2029 Bond By Temitope Ponle  Abuja, Sept. 9, 2922 The African Development Bank (AfDB) has launched and priced a new 1.25 billion euros seven-year Global Benchmark transaction, in a Social Bond format, due Sept. 14, 2029. The AfDB in in a statement posted on its on Friday, stated the bond launched on Wednesday, “pays a coupon of 2.250 per cent with a re-offer yield of 2.310 per cent.

    ” The new seven-year EUR transaction marks the bank’s second EUR Global Benchmark in 2022, following the one billion euros five-year transaction issued in March, extending further the bank’s EUR curve.

    Additionally, the new line brings a new liquid and on-the-run reference point in the seven-year part of AfDB’s EUR curve, refreshing a key benchmark maturity, which the bank last visited in 2017. “By issuing social bonds to finance socio-economic development in its regional member countries, the bank is advancing its mission and strategy – to spur sustainable economic development and social progress in Africa – and is capitalising on its strong track-record of financing projects with strong social impact on the continent. 

    “The eligible projects to be financed with the proceeds of this new EUR-denominated Social Bond are expected to lead to poverty reduction and job creation, as well as inclusive growth across age, gender and geography, thus improving the quality of life for the people of Africa,” the statement noted.

    It said the AfDB’s mandate for a new seven-year EUR-denominated Global SEC-Exempt Benchmark was announced on Sept. 6, at 13:00 London time, with the issuer seizing the final clear window available in the euro market before the European Central Bank’s (ECB) September meeting on Thursday.

    Books officially opened the following morning, on Sept 7, at 8:00 London time with Initial Price Thoughts released at mid-swaps – 2bps (basis points) area. 

    Investor demand was robust from the outset with the orderbook growing in excess of 1.8 billion euros by 9:35 London time, supporting AfDB’s move to set the spread tighter at mid-swaps -3bps with books to go subject at 10:30 London time. 

    The final mid-swap spread implied a new issue concession of 2bps relative to the bank’s EUR curve.

    Investor interest, however, continued to grow with the book closing in excess of 2.3 billion euros with 71 investors participating in the offering whilst the quality of the book firmly supported the launch of a EUR 1.25 billion transaction. 

    Notably, at  2.3 billion euros, the deal’s orderbook represents AfDB’s largest ever book for a EUR benchmark transaction.

    Shortly thereafter at 14:10 London time, the transaction officially priced at mid-swaps -3bps, equivalent to a reoffer yield of 2.310 per cent and a spread of 96.4bps vs.

    the DBR (Debt Burden Ratio) 0.00 per cent August 2029 benchmark.

    The distribution statistics are as follows: The geographical distribution highlights a diversified investor base approximately with the majority of the book from Europe (56.7 per cent), followed by the UK (22.6 per cent), Asia (12.1 per cent), Americas (8.2 per cent) and Africa (0.4 per cent) In terms of investor type, the high quality orderbook was predominantly allocated to banks (40.2 per cent) and Central Institutions (30 per cent) and whilst Asset Managers Insurance Pension Funds (29.8 per cent), rounded off the remainder of allocations.

    Bond Summary Terms are as follows: Issuer is the AfDB with Issuer Rating as Aaa AAA AAA AAA (All Stable).

    Size (of bond)1.25 billion euros and the Pricing Date as of Sept. 7,  2022; Settlement Date of Sept. 14, 2022; and Maturity Date of Sept. 14, 2029. A Coupon of 2.250 per cent, Spread to mid-swaps of -3 basis points, Spread to benchmark of +96.4 basis points, re-offer price of 99.616 per cent and a re-offer yield of 2.310 per cent.

    The Lead Managers are Barclays, Citi, JP Morgan and Société Générale and the International Securities Identification Number is XS2532472235.
    NewsSourceCredit: NAN

  •   Three Tanzanian companies will present themselves to international investors at an event organized by the European Union and the Republic of Seychelles for the first edition of BlueInvest Africa on September 7 8 2022 in Seychelles Held under the high patronage of the President of the Republic of Seychelles this event will bring together investors from Africa and Europe and African start ups to generate business opportunities and promote the blue economy sector in Africa An important Tanzanian delegation is expected to participate in the various sessions of the event The three selected companies from Tanzania will present their project to investors Eco Act a start up that makes plastic products from recycled plastic waste and is seeking funds to buy machines to increase production ENdep Limited a start up company creating a solar power plant that will offer cold storage services for fish aimed at supporting women and young fish traders NovFeed Her representative Ms Diana Orembe will give a TED talk on her groundbreaking experience with bacteria based protein production for feed in particular aquaculture Tanzanian participants representing their companies shared their expectations for the BlueInvest Africa event Tanzania is endowed with the Indian Ocean and three large inland lakes Therefore the Blue Economy is of paramount importance to improve economic livelihoods of its citizens My hope is that the BlueInvest Africa event will open the doors to meet crucial investors and technology partners to unlock the full potential of the blue economy in Tanzania said Mr Rugola Mtandu of ENdep Limited We are excited about the BlueInvest Africa forum for not only giving us the opportunity to share our experience but also to learn from other players in the blue economy sector We look forward to learning from their best practices and adapting to our context to improve our impact said Christian Mwijage of ECO Act Company In the near future the EU will launch a EUR 140 million intervention in Tanzania with the aim of contributing to a climate resilient Blue Economy in the coastal areas of Tanzania in Zanzibar and the Indian Ocean Exclusive Economic Zone for the benefit of the economy and local communities communities and for the conservation of the environment The EU is already actively supporting the Government of the United Republic of Tanzania in the implementation of three fisheries projects in Lake Victoria Lake Tanganyika and in the Unguja Pemba Pangani area It also supports sustainable agriculture projects in coastal areas and in Zanzibar as well as the development of renewable energy sustainable cities investments and community activities that promote livelihoods and adaptation to climate change
    BlueInvest Africa: The European Union supports investments in blue economy companies in Tanzania
      Three Tanzanian companies will present themselves to international investors at an event organized by the European Union and the Republic of Seychelles for the first edition of BlueInvest Africa on September 7 8 2022 in Seychelles Held under the high patronage of the President of the Republic of Seychelles this event will bring together investors from Africa and Europe and African start ups to generate business opportunities and promote the blue economy sector in Africa An important Tanzanian delegation is expected to participate in the various sessions of the event The three selected companies from Tanzania will present their project to investors Eco Act a start up that makes plastic products from recycled plastic waste and is seeking funds to buy machines to increase production ENdep Limited a start up company creating a solar power plant that will offer cold storage services for fish aimed at supporting women and young fish traders NovFeed Her representative Ms Diana Orembe will give a TED talk on her groundbreaking experience with bacteria based protein production for feed in particular aquaculture Tanzanian participants representing their companies shared their expectations for the BlueInvest Africa event Tanzania is endowed with the Indian Ocean and three large inland lakes Therefore the Blue Economy is of paramount importance to improve economic livelihoods of its citizens My hope is that the BlueInvest Africa event will open the doors to meet crucial investors and technology partners to unlock the full potential of the blue economy in Tanzania said Mr Rugola Mtandu of ENdep Limited We are excited about the BlueInvest Africa forum for not only giving us the opportunity to share our experience but also to learn from other players in the blue economy sector We look forward to learning from their best practices and adapting to our context to improve our impact said Christian Mwijage of ECO Act Company In the near future the EU will launch a EUR 140 million intervention in Tanzania with the aim of contributing to a climate resilient Blue Economy in the coastal areas of Tanzania in Zanzibar and the Indian Ocean Exclusive Economic Zone for the benefit of the economy and local communities communities and for the conservation of the environment The EU is already actively supporting the Government of the United Republic of Tanzania in the implementation of three fisheries projects in Lake Victoria Lake Tanganyika and in the Unguja Pemba Pangani area It also supports sustainable agriculture projects in coastal areas and in Zanzibar as well as the development of renewable energy sustainable cities investments and community activities that promote livelihoods and adaptation to climate change
    BlueInvest Africa: The European Union supports investments in blue economy companies in Tanzania
    Africa3 months ago

    BlueInvest Africa: The European Union supports investments in blue economy companies in Tanzania

    Three Tanzanian companies will present themselves to international investors at an event organized by the European Union and the Republic of Seychelles, for the first edition of BlueInvest Africa on September 7-8, 2022 in Seychelles.

    Held under the high patronage of the President of the Republic of Seychelles, this event will bring together investors from Africa and Europe and African start-ups to generate business opportunities and promote the blue economy sector in Africa.

    An important Tanzanian delegation is expected to participate in the various sessions of the event.

    The three selected companies from Tanzania will present their project to investors: Eco-Act: a start-up that makes plastic products from recycled plastic waste and is seeking funds to buy machines to increase production.

    ENdep Limited – a start-up company creating a solar power plant that will offer cold storage services for fish, aimed at supporting women and young fish traders.

    NovFeed: Her representative, Ms. Diana Orembe, will give a TED talk on her groundbreaking experience with bacteria-based protein production for feed, in particular aquaculture.

    Tanzanian participants representing their companies shared their expectations for the BlueInvest Africa event: "Tanzania is endowed with the Indian Ocean and three large inland lakes.

    Therefore, the Blue Economy is of paramount importance to improve economic livelihoods."

    of its citizens.

    My hope is that the BlueInvest Africa event will open the doors to meet crucial investors and technology partners to unlock the full potential of the blue economy in Tanzania," said Mr. Rugola Mtandu of ENdep Limited.

    “We are excited about the BlueInvest Africa forum for not only giving us the opportunity to share our experience, but also to learn from other players in the blue economy sector.

    We look forward to learning from their best practices and adapting to our context to improve our impact,” said Christian Mwijage of ECO-Act Company.

    In the near future, the EU will launch a EUR 140 million intervention in Tanzania with the aim of contributing to a climate-resilient Blue Economy in the coastal areas of Tanzania, in Zanzibar and the Indian Ocean (Exclusive Economic Zone) for the benefit of the economy and local communities.

    communities and for the conservation of the environment.

    The EU is already actively supporting the Government of the United Republic of Tanzania in the implementation of three fisheries projects in Lake Victoria, Lake Tanganyika and in the Unguja-Pemba-Pangani area.

    It also supports sustainable agriculture projects in coastal areas and in Zanzibar, as well as the development of renewable energy, sustainable cities, investments and community activities that promote livelihoods and adaptation to climate change.

  •   Gray https Grey co a fintech started by two Nigerians to simplify sending and receiving foreign payments for Africans has raised 2 million in seed funding The service offered by Gray allows its clients to have virtual international bank accounts for free and enjoy a seamless payment process abroad Grey https Grey co was founded in 2021 to empower people to live a location independent lifestyle says Gray CEO Idorenyin Obong I think the least of your worries as a freelancer remote worker or digital nomad should be sending or receiving payments so we ve made it easy We like to say that we are on a mission to make international payments as easy as sending an email We want to do impactful work to improve the way Africa as a continent interacts with money across its borders I am delighted that we have acquired a large and fiercely loyal user base At Grey you can create a foreign bank account in USD GBP and EUR for free send money to the UK and Europe and receive payments from over 88 countries The company also offers conversion directly to your local currency so you can easily spend it on the app Gray enables users to receive foreign payments in their preferred foreign currency and withdraw directly to mobile money or their local bank account In addition to the funding announcement Gray also announced its expansion into East Africa starting with Kenya and partnerships with payment giant Cellulant and edtech leader Moringa Traveling to Kenya is much easier with Gray https bit ly 3Q5bCyY because you can pay suppliers directly to M pesa For example suppose you are a traveler on a trip to Nairobi In that case you can convert any supported currency to Kenyan shillings and pay for services directly to M Pesa or other mobile money accounts Gray is the easiest way to send money abroad and between African countries The company plans to expand to more East African countries in the coming months It has included support for Ugandan shillings in the app bringing the total number of supported currencies to six This addition means that gray customers in Nigeria and Kenya can send money to mobile money accounts in Uganda The company has also privately pitched Gray Business to various companies COO Femi Aghedo says Sending money around the world is not just an individual problem it also affects African companies In the last two months we have added several African companies to our private beta Honestly when I hear feedback about how much we ve simplified a previously complex process it pushes us to do more Grey s seed funding round included participation from Y Combinator Soma Capital Heirloom Fund True Culture Fund angel investors Alan Rutledge Samvit Ramadurgam Karthik Ramakrishnan and other high profile investors According to CEO Idorenyin Obong with this new round of capital they plan to launch into new markets and expand their product range to include not only remittances but also person to person and business to business payments for all Africans to enjoy of seamless cross border payments with low fees Gray services are available in Kenya and Nigeria through the Gray website https Grey co Play Store https bit ly 3Q0zcfY and App Store https link grey co iOS app
    Gray raises million to simplify cross-border payments in Africa
      Gray https Grey co a fintech started by two Nigerians to simplify sending and receiving foreign payments for Africans has raised 2 million in seed funding The service offered by Gray allows its clients to have virtual international bank accounts for free and enjoy a seamless payment process abroad Grey https Grey co was founded in 2021 to empower people to live a location independent lifestyle says Gray CEO Idorenyin Obong I think the least of your worries as a freelancer remote worker or digital nomad should be sending or receiving payments so we ve made it easy We like to say that we are on a mission to make international payments as easy as sending an email We want to do impactful work to improve the way Africa as a continent interacts with money across its borders I am delighted that we have acquired a large and fiercely loyal user base At Grey you can create a foreign bank account in USD GBP and EUR for free send money to the UK and Europe and receive payments from over 88 countries The company also offers conversion directly to your local currency so you can easily spend it on the app Gray enables users to receive foreign payments in their preferred foreign currency and withdraw directly to mobile money or their local bank account In addition to the funding announcement Gray also announced its expansion into East Africa starting with Kenya and partnerships with payment giant Cellulant and edtech leader Moringa Traveling to Kenya is much easier with Gray https bit ly 3Q5bCyY because you can pay suppliers directly to M pesa For example suppose you are a traveler on a trip to Nairobi In that case you can convert any supported currency to Kenyan shillings and pay for services directly to M Pesa or other mobile money accounts Gray is the easiest way to send money abroad and between African countries The company plans to expand to more East African countries in the coming months It has included support for Ugandan shillings in the app bringing the total number of supported currencies to six This addition means that gray customers in Nigeria and Kenya can send money to mobile money accounts in Uganda The company has also privately pitched Gray Business to various companies COO Femi Aghedo says Sending money around the world is not just an individual problem it also affects African companies In the last two months we have added several African companies to our private beta Honestly when I hear feedback about how much we ve simplified a previously complex process it pushes us to do more Grey s seed funding round included participation from Y Combinator Soma Capital Heirloom Fund True Culture Fund angel investors Alan Rutledge Samvit Ramadurgam Karthik Ramakrishnan and other high profile investors According to CEO Idorenyin Obong with this new round of capital they plan to launch into new markets and expand their product range to include not only remittances but also person to person and business to business payments for all Africans to enjoy of seamless cross border payments with low fees Gray services are available in Kenya and Nigeria through the Gray website https Grey co Play Store https bit ly 3Q0zcfY and App Store https link grey co iOS app
    Gray raises million to simplify cross-border payments in Africa
    Africa3 months ago

    Gray raises $2 million to simplify cross-border payments in Africa

    Gray (https://Grey.co), a fintech started by two Nigerians to simplify sending and receiving foreign payments for Africans, has raised $2 million in seed funding.

    The service offered by Gray allows its clients to have virtual international bank accounts for free and enjoy a seamless payment process abroad.

    "Grey (https://Grey.co) was founded in 2021 to empower people to live a location-independent lifestyle," says Gray CEO Idorenyin Obong.

    “I think the least of your worries as a freelancer, remote worker or digital nomad should be sending or receiving payments, so we've made it easy.

    We like to say that we are on a mission to make international payments as easy as sending an email.

    We want to do impactful work to improve the way Africa as a continent interacts with money across its borders.

    I am delighted that we have acquired a large and fiercely loyal user base.” At Grey, you can create a foreign bank account in USD, GBP and EUR for free, send money to the UK and Europe and receive payments from over 88 countries.

    The company also offers conversion directly to your local currency so you can easily spend it on the app.

    Gray enables users to receive foreign payments in their preferred foreign currency and withdraw directly to mobile money or their local bank account.

    In addition to the funding announcement, Gray also announced its expansion into East Africa, starting with Kenya, and partnerships with payment giant Cellulant and edtech leader Moringa.

    Traveling to Kenya is much easier with Gray (https://bit.ly/3Q5bCyY) because you can pay suppliers directly to M-pesa.

    For example, suppose you are a traveler on a trip to Nairobi.

    In that case, you can convert any supported currency to Kenyan shillings and pay for services directly to M-Pesa or other mobile money accounts.

    Gray is the easiest way to send money abroad and between African countries.

    The company plans to expand to more East African countries in the coming months.

    It has included support for Ugandan shillings in the app, bringing the total number of supported currencies to six.

    This addition means that gray customers in Nigeria and Kenya can send money to mobile money accounts in Uganda.

    The company has also privately pitched Gray Business to various companies.

    COO Femi Aghedo says: “Sending money around the world is not just an individual problem; it also affects African companies.

    In the last two months, we have added several African companies to our private beta.

    Honestly, when I hear feedback about how much we've simplified a previously complex process, it pushes us to do more."

    Grey's seed funding round included participation from Y Combinator, Soma Capital, Heirloom Fund, True Culture Fund, angel investors Alan Rutledge, Samvit Ramadurgam, Karthik Ramakrishnan, and other high-profile investors.

    According to CEO Idorenyin Obong, with this new round of capital they plan to launch into new markets and expand their product range to include not only remittances, but also person-to-person and business-to-business payments for all Africans to enjoy.

    of seamless cross-border payments with low fees.

    Gray services are available in Kenya and Nigeria through the Gray website (https://Grey.co), Play Store (https://bit.ly/3Q0zcfY) and App Store (https://link.

    grey.co/).

    iOS app).

  •  Gov Bello Matawalle of Zamfara on Tuesday approved the release of EUR 232 000 00 into the account of Cyprus International University to settle the school fees for 91 students from the state studying at the institution This is contained in a statement issued by the state Commissioner of Information Ibrahim Dosara and made available to newsmen on Tuesday in Gusau Dosara said the Central Bank of Nigeria CBN would disburse the amount into the various accounts of the students He said that the amount included EUR 200 000 as tuition accommodation and meal fees to be paid out of EUR 297 509 11 initially owed for the 2021 2022 academic year According the commissioner EUR 23 157 00 would be disbursed as Residence Permit and EUR 8 843 00 to be disbursed to the 91 students The government therefore appealed to the students parents and the university to exercise more patience as the matter will soon be resolved and the students will continue their studies with minimum delay The government also called on the media to cross check issues before going to press to allow this country to progress he said Dosara said the state government had offered the students scholarships to study Medicine Engineering Information Technology and other sciences in various institutions in Cyprus US UK Netherlands India and Sudan NewsSourceCredit NAN
    Matawalle releases  EUR232,000 for 91 Zamfara students in Cyprus
     Gov Bello Matawalle of Zamfara on Tuesday approved the release of EUR 232 000 00 into the account of Cyprus International University to settle the school fees for 91 students from the state studying at the institution This is contained in a statement issued by the state Commissioner of Information Ibrahim Dosara and made available to newsmen on Tuesday in Gusau Dosara said the Central Bank of Nigeria CBN would disburse the amount into the various accounts of the students He said that the amount included EUR 200 000 as tuition accommodation and meal fees to be paid out of EUR 297 509 11 initially owed for the 2021 2022 academic year According the commissioner EUR 23 157 00 would be disbursed as Residence Permit and EUR 8 843 00 to be disbursed to the 91 students The government therefore appealed to the students parents and the university to exercise more patience as the matter will soon be resolved and the students will continue their studies with minimum delay The government also called on the media to cross check issues before going to press to allow this country to progress he said Dosara said the state government had offered the students scholarships to study Medicine Engineering Information Technology and other sciences in various institutions in Cyprus US UK Netherlands India and Sudan NewsSourceCredit NAN
    Matawalle releases  EUR232,000 for 91 Zamfara students in Cyprus
    General news3 months ago

    Matawalle releases  EUR232,000 for 91 Zamfara students in Cyprus

    Gov. Bello Matawalle of Zamfara on Tuesday  approved the release of EUR 232,000.00 into the account of Cyprus International University to settle the school fees for 91 students from the state studying at the institution.

    This is contained in a statement issued  by the state Commissioner of Information,  Ibrahim Dosara and made available to newsmen on Tuesday in Gusau.

    Dosara said the Central Bank of Nigeria (CBN) would disburse the amount into the various accounts of the students.

    He said that the amount included: “EUR 200,000 as tuition, accommodation and meal fees to be  paid out of EUR 297,509.11 initially owed for the 2021-2022 academic year.

    ” According the commissioner, EUR 23,157.00 would be disbursed as Residence Permit; and EUR 8,843.00 to be disbursed to the 91 students.

    “The government, therefore, appealed to the students, parents and the university to exercise more patience, as the matter will soon be resolved and the students will continue their studies with minimum delay.

    “The government also called on the media to cross check issues before going to press, to allow this country to progress,” he said.

    Dosara said the state government had offered  the students scholarships to study Medicine, Engineering, Information Technology and other sciences in  various institutions in Cyprus, US, UK, Netherlands, India and Sudan.


    NewsSourceCredit: NAN

  •   Binance www Binance com the world s leading blockchain ecosystem and cryptocurrency infrastructure provider is celebrating its fifth anniversary by waiving trading fees on a wide range of bitcoin spot trading pairs While Binance has long maintained one of the lowest spot trading fees in the industry it is establishing itself as the global price leader with this latest move Starting July 8 users will be able to enjoy fee free trading in thirteen stablecoin and fiat currency combinations including BTC USDT BTC BUSD BTC USDC BTC EUR BTC TRY and more The new trading fees will be in place until further notice allowing Binance users around the world to enjoy the feeling of no fees beyond the two week anniversary celebrations Binance Founder and CEO CZ Changpeng Zhao said In line with our user first philosophy Binance has always strived to offer the most competitive fees in the industry In essence Binance is an inclusive platform with accessibility in mind The removal of trading fees on select BTC spot trading pairs is another move in that direction In the span of five years Binance has amassed an amazing community that believes in us and supports our vision Our growth and achievements would not have been possible without them We look forward to giving back to the community by providing them with the best products and services in the world added CZ Binance launched in July 2017 as a cryptocurrency exchange and within six months it became the largest cryptocurrency exchange in the world Today Binance is a global blockchain ecosystem encompassing business services infrastructure solutions educational resources research charitable and social good programs investment and incubation initiatives and more By providing access to extensive financial tools while maintaining one of the lowest fees in the business Binance makes cryptocurrency accessible to everyone in Africa and beyond For more information on Binance s new fee structure click here https bit ly 3Rd0Po9
    Binance Celebrates 5th Anniversary with Zero Bitcoin Trading Fees
      Binance www Binance com the world s leading blockchain ecosystem and cryptocurrency infrastructure provider is celebrating its fifth anniversary by waiving trading fees on a wide range of bitcoin spot trading pairs While Binance has long maintained one of the lowest spot trading fees in the industry it is establishing itself as the global price leader with this latest move Starting July 8 users will be able to enjoy fee free trading in thirteen stablecoin and fiat currency combinations including BTC USDT BTC BUSD BTC USDC BTC EUR BTC TRY and more The new trading fees will be in place until further notice allowing Binance users around the world to enjoy the feeling of no fees beyond the two week anniversary celebrations Binance Founder and CEO CZ Changpeng Zhao said In line with our user first philosophy Binance has always strived to offer the most competitive fees in the industry In essence Binance is an inclusive platform with accessibility in mind The removal of trading fees on select BTC spot trading pairs is another move in that direction In the span of five years Binance has amassed an amazing community that believes in us and supports our vision Our growth and achievements would not have been possible without them We look forward to giving back to the community by providing them with the best products and services in the world added CZ Binance launched in July 2017 as a cryptocurrency exchange and within six months it became the largest cryptocurrency exchange in the world Today Binance is a global blockchain ecosystem encompassing business services infrastructure solutions educational resources research charitable and social good programs investment and incubation initiatives and more By providing access to extensive financial tools while maintaining one of the lowest fees in the business Binance makes cryptocurrency accessible to everyone in Africa and beyond For more information on Binance s new fee structure click here https bit ly 3Rd0Po9
    Binance Celebrates 5th Anniversary with Zero Bitcoin Trading Fees
    Africa5 months ago

    Binance Celebrates 5th Anniversary with Zero Bitcoin Trading Fees

    Binance (www.Binance.com), the world's leading blockchain ecosystem and cryptocurrency infrastructure provider, is celebrating its fifth anniversary by waiving trading fees on a wide range of bitcoin spot trading pairs. While Binance has long maintained one of the lowest spot trading fees in the industry, it is establishing itself as the global price leader with this latest move.

    Starting July 8, users will be able to enjoy fee-free trading in thirteen stablecoin and fiat currency combinations, including BTC/USDT, BTC/BUSD, BTC/USDC, BTC/EUR, BTC/TRY, and more. The new trading fees will be in place until further notice, allowing Binance users around the world to enjoy the feeling of no fees beyond the two-week anniversary celebrations.

    Binance Founder and CEO "CZ" (Changpeng Zhao) said: "In line with our user-first philosophy, Binance has always strived to offer the most competitive fees in the industry. In essence, Binance is an inclusive platform with accessibility in mind. The removal of trading fees on select BTC spot trading pairs is another move in that direction."

    “In the span of five years, Binance has amassed an amazing community that believes in us and supports our vision. Our growth and achievements would not have been possible without them. We look forward to giving back to the community by providing them with the best products and services in the world,” added CZ.

    Binance launched in July 2017 as a cryptocurrency exchange, and within six months, it became the largest cryptocurrency exchange in the world. Today, Binance is a global blockchain ecosystem encompassing business services, infrastructure solutions, educational resources, research, charitable and social good programs, investment and incubation initiatives, and more. By providing access to extensive financial tools while maintaining one of the lowest fees in the business, Binance makes cryptocurrency accessible to everyone in Africa and beyond.

    For more information on Binance's new fee structure, click here (https://bit.ly/3Rd0Po9).

  •   The Global Center on Adaptation GCA GCA org signed a Memorandum of Understanding with the Ministry of Economy and Finance of the Republic of C te d Ivoire to improve and increase the proportion of investments in adaptation and resilience financed by the next EUR from the country 2 billion Sustainable Bonds Program C te d Ivoire s Nationally Determined Contributions NDCs identify 11 sectors vulnerable to climate change and estimate the total cost of implementing adaptation actions at USD 1 76 billion GCA will support the Republic of C te d Ivoire in the identification of ESG projects with a focus on projects related to climate change and adaptation through a two phase intervention The immediate focus of GCA s technical assistance will be on budget assessment and identification of eligible budget expenditures within the scope of C te d Ivoire s ESG Framework And in the medium to long term promote the implementation of processes and tools to Classify expenditures related to climate change Track climate related expenditures in the national budget system climate budget labeling and Train relevant government entities on these processes and tools including the ESG Committee In signing the Memorandum of Understanding Patrick Verkooijen Executive Director of the Global Adaptation Center noted that Through this work GCA will support the Government of C te d Ivoire to scale adaptation and resilience by building on the credibility scale momentum and liquidity that the green bond market has achieved over the last ten years We hope that through our Africa Adaptation Acceleration Program other countries on the continent will follow the example of C te d Ivoire so that funding is available to implement the necessary adaptation actions to ensure the future of life and the livelihoods of people across the continent His Excellency Adama Coulibaly Honorable Minister of Economy and Finance of the Republic of Ivory Coast said Our goal in issuing the first sustainable sovereign bonds is in line with His Excellency President Alassane Ouattara s climate policy commitment to accelerate bold action on resilience projects and adaptation finance Public spending alone cannot fill the adaptation finance gap so private sector investment must scale alongside government investments to supplement limited resources We welcome the support of the Global Adaptation Center to provide technical assistance and capacity building to conduct a review of public and institutional climate spending to identify adaptation assets C te d Ivoire has formed an ESG Committee to select projects financed by the Sustainable Bonds The ESG Committee is led by the Ministry of Economy and Finance specifically the Department of Public Debt and Donations Direction de la Dette Publique et des Dons It includes representatives from the Ministry of Planning and Development the Ministry of Budget and from a variety of sectoral Ministries that cover critical policies related to ESG Eligible Categories in particular the Ministry of Environment and Sustainable Development the Ministry of Health the Ministry of Education Ministry of Energy Ministry of Hydraulics and Ministry of Solidarity and Fight against Poverty
    Global Center on Adaptation to increase share of adaptation and resilience investments in Côte d’Ivoire’s EUR 2 billion Sustainable Bond Program
      The Global Center on Adaptation GCA GCA org signed a Memorandum of Understanding with the Ministry of Economy and Finance of the Republic of C te d Ivoire to improve and increase the proportion of investments in adaptation and resilience financed by the next EUR from the country 2 billion Sustainable Bonds Program C te d Ivoire s Nationally Determined Contributions NDCs identify 11 sectors vulnerable to climate change and estimate the total cost of implementing adaptation actions at USD 1 76 billion GCA will support the Republic of C te d Ivoire in the identification of ESG projects with a focus on projects related to climate change and adaptation through a two phase intervention The immediate focus of GCA s technical assistance will be on budget assessment and identification of eligible budget expenditures within the scope of C te d Ivoire s ESG Framework And in the medium to long term promote the implementation of processes and tools to Classify expenditures related to climate change Track climate related expenditures in the national budget system climate budget labeling and Train relevant government entities on these processes and tools including the ESG Committee In signing the Memorandum of Understanding Patrick Verkooijen Executive Director of the Global Adaptation Center noted that Through this work GCA will support the Government of C te d Ivoire to scale adaptation and resilience by building on the credibility scale momentum and liquidity that the green bond market has achieved over the last ten years We hope that through our Africa Adaptation Acceleration Program other countries on the continent will follow the example of C te d Ivoire so that funding is available to implement the necessary adaptation actions to ensure the future of life and the livelihoods of people across the continent His Excellency Adama Coulibaly Honorable Minister of Economy and Finance of the Republic of Ivory Coast said Our goal in issuing the first sustainable sovereign bonds is in line with His Excellency President Alassane Ouattara s climate policy commitment to accelerate bold action on resilience projects and adaptation finance Public spending alone cannot fill the adaptation finance gap so private sector investment must scale alongside government investments to supplement limited resources We welcome the support of the Global Adaptation Center to provide technical assistance and capacity building to conduct a review of public and institutional climate spending to identify adaptation assets C te d Ivoire has formed an ESG Committee to select projects financed by the Sustainable Bonds The ESG Committee is led by the Ministry of Economy and Finance specifically the Department of Public Debt and Donations Direction de la Dette Publique et des Dons It includes representatives from the Ministry of Planning and Development the Ministry of Budget and from a variety of sectoral Ministries that cover critical policies related to ESG Eligible Categories in particular the Ministry of Environment and Sustainable Development the Ministry of Health the Ministry of Education Ministry of Energy Ministry of Hydraulics and Ministry of Solidarity and Fight against Poverty
    Global Center on Adaptation to increase share of adaptation and resilience investments in Côte d’Ivoire’s EUR 2 billion Sustainable Bond Program
    Africa6 months ago

    Global Center on Adaptation to increase share of adaptation and resilience investments in Côte d’Ivoire’s EUR 2 billion Sustainable Bond Program

    The Global Center on Adaptation (GCA) (GCA.org) signed a Memorandum of Understanding with the Ministry of Economy and Finance of the Republic of Côte d'Ivoire to improve and increase the proportion of investments in adaptation and resilience financed by the next EUR from the country. 2 billion Sustainable Bonds Program.

    Côte d'Ivoire's Nationally Determined Contributions (NDCs) identify 11 sectors vulnerable to climate change and estimate the total cost of implementing adaptation actions at USD 1.76 billion.

    GCA will support the Republic of Côte d'Ivoire in the identification of ESG projects, with a focus on projects related to climate change and adaptation, through a two-phase intervention:

    The immediate focus of GCA's technical assistance will be on budget assessment and identification of eligible budget expenditures, within the scope of Côte d'Ivoire's ESG Framework. And in the medium to long term, promote the implementation of processes and tools to:

    Classify expenditures related to climate change Track climate-related expenditures in the national budget system (climate budget labeling) and Train relevant government entities on these processes and tools (including the ESG Committee).

    In signing the Memorandum of Understanding, Patrick Verkooijen, Executive Director of the Global Adaptation Center, noted that:

    “Through this work, GCA will support the Government of Côte d'Ivoire to scale adaptation and resilience by building on the credibility, scale, momentum and liquidity that the green bond market has achieved over the last ten years. We hope that, through our Africa Adaptation Acceleration Program, other countries on the continent will follow the example of Côte d'Ivoire so that funding is available to implement the necessary adaptation actions to ensure the future of life and the livelihoods of people across the continent.

    His Excellency Adama Coulibaly, Honorable Minister of Economy and Finance of the Republic of Ivory Coast, said:

    “Our goal in issuing the first sustainable sovereign bonds is in line with His Excellency President Alassane Ouattara's climate policy commitment to accelerate bold action on resilience projects and adaptation finance. Public spending alone cannot fill the adaptation finance gap, so private sector investment must scale alongside government investments to supplement limited resources. We welcome the support of the Global Adaptation Center to provide technical assistance and capacity building to conduct a review of public and institutional climate spending to identify adaptation assets.”

    Côte d'Ivoire has formed an ESG Committee to select projects financed by the Sustainable Bonds. The ESG Committee is led by the Ministry of Economy and Finance, specifically the Department of Public Debt and Donations (“Direction de la Dette Publique et des Dons”). It includes representatives from the Ministry of Planning and Development, the Ministry of Budget, and from a variety of sectoral Ministries that cover critical policies related to ESG Eligible Categories, in particular, the Ministry of Environment and Sustainable Development, the Ministry of Health, the Ministry of Education, Ministry of Energy, Ministry of Hydraulics and Ministry of Solidarity and Fight against Poverty.

  •   investment in the rice sector to improve food security and create jobs Feasibility study to outline investments to reduce dependence on rice imports The EIB www EIB org and the EU support investments in seed production irrigation storage and logistics The European Investment Bank plans to support large scale investments to increase rice production and improve food security in Liberia The first EIB support for agricultural investment in Liberia is expected to cover the entire value chain including rice production storage and distribution Minister of Agriculture Jeanine M Cooper Deputy Minister of Budget of the Ministry of Finance and Development Planning Tanneh G Brunson Ambassador of the European Union Laurent Delahousse and Diederick signed agreements in Monrovia to prepare detailed feasibility studies to identify the challenges and assess investment priorities Zambon Head of Public Sector Financing in Sub Saharan Africa at the EIB Liberia is highly vulnerable to global food crises as more than two thirds of the rice consumed in our country is imported from abroad Liberia s partnership with the European Investment Bank and the European Union will boost local rice production create private sector jobs throughout the country and reduce agricultural dependence on other countries Close cooperation between Liberia and Europe is strengthening food security and reducing the impact of the war in Ukraine and recent global economic crises in Liberia Agriculture Minister Jeanine M Cooper said Rice is the staple food in Liberia but we don t produce it The new rice investment program supported by the European Investment Bank and the European Union ensures that Liberia can accelerate sustainable development and avoid food price shocks by increasing local rice production On behalf of all Liberians I wish to express my gratitude to the EIB and the European Union for working with Liberia to develop our country s rice value chain and improve the food security of Liberians said Tanneh G Brunson Deputy Minister for Budget Development at the Ministry of Finance and Development Planning The European Investment Bank is committed to increasing investment to strengthen food security improve domestic agricultural production and create jobs and reduce the impact of global food supply disruptions on local consumers In the coming months detailed feasibility studies will identify priority investments that can transform rice production in Liberia and enable large scale financing across the sector said Ambroise Fayolle vice president of the European Investment Bank The Russian attack on Ukraine is having an impact on food and commodity prices around the world including here in Liberia The European Union recognizes the importance of supporting local rice production in order to reduce Liberia s dependence on rice imports and increase local rice production said Laurent Delahousse European Union Ambassador to Liberia Identification of investment priorities to improve rice production in Liberia The EUR 4 million agreement between the Liberian government and the European Investment Bank EIB will prepare detailed feasibility studies to assess the potential and challenges of the Liberian rice value chain and support project implementation The EIB and the Liberian partners can design and structure an investment program that is expected to be launched next year The feasibility studies are being funded by a grant from the European Development Fund under the Africa Investment Platform Reduce Liberia s dependency on imported rice and world price shocks The new EIB backed rice value chain development program aims to boost rice production in the country by reducing Liberia s dependence on rice imports to improve food and nutrition security and create local jobs in production storage and distribution of rice The overall investment program is expected to support the entire rice value chain by improving rice production building irrigation upgrading food laboratories improving storage and logistics The European Investment Bank is the world s largest international public bank owned directly by the 27 member states of the European Union and has been active in Liberia since 1978 Since the pandemic the EIB has provided more than 8 billion for public and private investment in Africa
    European Investment Bank to Support Increased Rice Production in Liberia
      investment in the rice sector to improve food security and create jobs Feasibility study to outline investments to reduce dependence on rice imports The EIB www EIB org and the EU support investments in seed production irrigation storage and logistics The European Investment Bank plans to support large scale investments to increase rice production and improve food security in Liberia The first EIB support for agricultural investment in Liberia is expected to cover the entire value chain including rice production storage and distribution Minister of Agriculture Jeanine M Cooper Deputy Minister of Budget of the Ministry of Finance and Development Planning Tanneh G Brunson Ambassador of the European Union Laurent Delahousse and Diederick signed agreements in Monrovia to prepare detailed feasibility studies to identify the challenges and assess investment priorities Zambon Head of Public Sector Financing in Sub Saharan Africa at the EIB Liberia is highly vulnerable to global food crises as more than two thirds of the rice consumed in our country is imported from abroad Liberia s partnership with the European Investment Bank and the European Union will boost local rice production create private sector jobs throughout the country and reduce agricultural dependence on other countries Close cooperation between Liberia and Europe is strengthening food security and reducing the impact of the war in Ukraine and recent global economic crises in Liberia Agriculture Minister Jeanine M Cooper said Rice is the staple food in Liberia but we don t produce it The new rice investment program supported by the European Investment Bank and the European Union ensures that Liberia can accelerate sustainable development and avoid food price shocks by increasing local rice production On behalf of all Liberians I wish to express my gratitude to the EIB and the European Union for working with Liberia to develop our country s rice value chain and improve the food security of Liberians said Tanneh G Brunson Deputy Minister for Budget Development at the Ministry of Finance and Development Planning The European Investment Bank is committed to increasing investment to strengthen food security improve domestic agricultural production and create jobs and reduce the impact of global food supply disruptions on local consumers In the coming months detailed feasibility studies will identify priority investments that can transform rice production in Liberia and enable large scale financing across the sector said Ambroise Fayolle vice president of the European Investment Bank The Russian attack on Ukraine is having an impact on food and commodity prices around the world including here in Liberia The European Union recognizes the importance of supporting local rice production in order to reduce Liberia s dependence on rice imports and increase local rice production said Laurent Delahousse European Union Ambassador to Liberia Identification of investment priorities to improve rice production in Liberia The EUR 4 million agreement between the Liberian government and the European Investment Bank EIB will prepare detailed feasibility studies to assess the potential and challenges of the Liberian rice value chain and support project implementation The EIB and the Liberian partners can design and structure an investment program that is expected to be launched next year The feasibility studies are being funded by a grant from the European Development Fund under the Africa Investment Platform Reduce Liberia s dependency on imported rice and world price shocks The new EIB backed rice value chain development program aims to boost rice production in the country by reducing Liberia s dependence on rice imports to improve food and nutrition security and create local jobs in production storage and distribution of rice The overall investment program is expected to support the entire rice value chain by improving rice production building irrigation upgrading food laboratories improving storage and logistics The European Investment Bank is the world s largest international public bank owned directly by the 27 member states of the European Union and has been active in Liberia since 1978 Since the pandemic the EIB has provided more than 8 billion for public and private investment in Africa
    European Investment Bank to Support Increased Rice Production in Liberia
    Africa6 months ago

    European Investment Bank to Support Increased Rice Production in Liberia

    investment in the rice sector to improve food security and create jobs; Feasibility study to outline investments to reduce dependence on rice imports; The EIB (www.EIB.org) and the EU support investments in seed production, irrigation, storage and logistics

    The European Investment Bank plans to support large-scale investments to increase rice production and improve food security in Liberia. The first EIB support for agricultural investment in Liberia is expected to cover the entire value chain, including rice production, storage and distribution.

    Minister of Agriculture Jeanine M. Cooper, Deputy Minister of Budget of the Ministry of Finance and Development Planning Tanneh G. Brunson, Ambassador of the European Union Laurent Delahousse and Diederick signed agreements in Monrovia to prepare detailed feasibility studies to identify the challenges and assess investment priorities. Zambon, Head of Public Sector Financing in Sub-Saharan Africa at the EIB.

    “Liberia is highly vulnerable to global food crises as more than two-thirds of the rice consumed in our country is imported from abroad. Liberia's partnership with the European Investment Bank and the European Union will boost local rice production, create private sector jobs throughout the country and reduce agricultural dependence on other countries. Close cooperation between Liberia and Europe is strengthening food security and reducing the impact of the war in Ukraine and recent global economic crises in Liberia." Agriculture Minister Jeanine M. Cooper said.

    “Rice is the staple food in Liberia, but we don't produce it. The new rice investment program supported by the European Investment Bank and the European Union ensures that Liberia can accelerate sustainable development and avoid food price shocks by increasing local rice production. On behalf of all Liberians, I wish to express my gratitude to the EIB and the European Union for working with Liberia to develop our country's rice value chain and improve the food security of Liberians." said Tanneh G. Brunson, Deputy Minister for Budget Development at the Ministry of Finance and Development Planning.

    “The European Investment Bank is committed to increasing investment to strengthen food security, improve domestic agricultural production and create jobs, and reduce the impact of global food supply disruptions on local consumers. In the coming months, detailed feasibility studies will identify priority investments that can transform rice production in Liberia and enable large-scale financing across the sector." said Ambroise Fayolle, vice president of the European Investment Bank.

    “The Russian attack on Ukraine is having an impact on food and commodity prices around the world, including here in Liberia. The European Union recognizes the importance of supporting local rice production in order to reduce Liberia's dependence on rice imports and increase local rice production,” said Laurent Delahousse, European Union Ambassador to Liberia.

    Identification of investment priorities to improve rice production in Liberia

    The EUR 4 million agreement between the Liberian government and the European Investment Bank (EIB) will prepare detailed feasibility studies to assess the potential and challenges of the Liberian rice value chain and support project implementation.

    The EIB and the Liberian partners can design and structure an investment program that is expected to be launched next year.

    The feasibility studies are being funded by a grant from the European Development Fund under the Africa Investment Platform.

    Reduce Liberia's dependency on imported rice and world price shocks

    The new EIB-backed rice value chain development program aims to boost rice production in the country by reducing Liberia's dependence on rice imports to improve food and nutrition security and create local jobs in production , storage and distribution of rice.

    The overall investment program is expected to support the entire rice value chain by improving rice production, building irrigation, upgrading food laboratories, improving storage and logistics.

    The European Investment Bank is the world's largest international public bank, owned directly by the 27 member states of the European Union and has been active in Liberia since 1978.

    Since the pandemic, the EIB has provided more than €8 billion for public and private investment in Africa.

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