Nigeria’s Foreign Trade via Letters of Credit Rises to $269.8m in Early 2025 - TV360 Nigeria

Nigeria’s Foreign Trade via Letters of Credit Rises to $269.8m in Early 2025 - TV360 Nigeria

Nigeria’s foreign trade transactions through Letters of Credit (LCs) rose by 4.4% year-on-year to $269.83 million in the first four months of 2025, up from $258.46 million recorded during the same period in 2024, according to new data from the Central Bank of Nigeria (CBN). Letters of Credit are bank-issued guarantees of payment for imports once goods are shipped. They are a critical tool in international trade, especially for economies reliant …