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Sovereign Bank confirms LC for Nigerian imports

01 November 2006

Boston-headquartered Sovereign Bank has confirmed a letter of credit from Intercontinental Bank of Nigeria through the Export-Import Bank of the United States' letter of credit programme. The transaction supports the sale of wheat and other grains valued at $10 million to Intercontinental Bank's clients, Flour Mills of Nigeria; Honey Wells Flour Mills; and Unikem Industries.

Sovereign is the first...


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