Nigeria’s Letter of Credit Payments Drops by 63% in Q1 2024

Nigeria’s letter of credit payments has plummeted by 63% in the first quarter of 2024 compared to the same period in the previous year, according to international payments data from the Central Bank of Nigeria (CBN).  A letter of credit (LOC) is a document issued by a bank or financial institution that guarantees a buyer … Continue reading Nigeria’s Letter of Credit Payments Drops by 63% in Q1 2024