Press Releases

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United Bank for Africa provides $200m for Nigeria’s petroleum industry – Timely financing for post-Covid economic growth

United Bank for Africa acts as Initial Mandated Lead Arranger for $1.5 Billion Facility to Boost Nigerian Oil Production and Government Revenue

Lagos, 5 August, 2020…// The United Bank for Africa Plc (UBA), the leading pan-African financial services group, has acted as an Initial Mandated Lead Arranger with a consortium of Nigerian commercial and international banks in a $1.5 Billion Pre-Export Finance Facility for Eagle Export Funding Limited, to enable the forward sale of crude by the Nigerian National Petroleum Corporation (NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC).…

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The Pan African Payment and Settlement System (PAPSS) is the first centralised payment market-infrastructure for processing, clearing and settling of intra-African trade and commerce payments.…