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IMF Questions Transparency of FG’s $5bn Swap Deal with UAE

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IMF Questions Transparency of FG’s $5bn Swap Deal with UAE

10 Jun, 2026

The International Monetary Fund (IMF) yesterday raised concerns over the federal government’s plan to secure up to $5 billion through a Total Return Swap (TRS) arrangement with First Abu Dhabi Bank, warning that such financing structures are often opaque, complex and carry significant financial risks. Speaking during a virtual briefing on the IMF’s 2026 Article IV Consultation Report on Nigeria, the Fund’s Resident Representative in Nigeria, Christian Ebeke, said although the country had regained access to international capital markets, authorities should exercise caution in pursuing the proposed transaction................….......READ MORE