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Some $1.02 million redeemed from Nigeria's debt.
Lagos, Nigeria (PANA) - A total of 1.024 million US dollars of Nigeria's estimated 28 billion-dollar external debt has been redeemed through the country's Debt Conversion Programme (DCP) this year, the Central Bank of Nigeria (CBN) said.
The DCP was introduced in 1988 as part of strategies to reduce the country's mounting external debt.
Through the programme, holders of Nigeria's promissory notes or other debt instruments, have them converted and the proceeds are expected to be invested in any sector of the Nigerian economy.
Official ...
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