By Ayo Kehinde The International Monetary Fund (IMF) has expressed concerns over Nigeria’s proposed $5 billion borrowing arrangement with First Abu Dhabi Bank, warning that the financing structure could expose the country to fiscal risks due to limited transparency. Speaking after the IMF’s latest Article IV consultation with Nigeria, the Fund’s mission chief, Christian Ebeke, cautioned against the use of complex financing instruments such as Total Return Swaps (TRS), which are often difficult to scrutinise and assess. “Our view is that transactions in these types of structures carry risks. Usually they are opaque, so the terms are not always very transparent when we review these instruments across countries”, Ebeke told reporters. Nigeria’s Senate approved the borrowing plan in April. The …
Read More

The Federal Ministry of Finance has approved payments to more than 1,240 contractors, providing immediate liquidity support to businesses across the country and reinforcing the Federal Government’s commitment to meeting its financial obligations. Efe Ovuakporie of the Ministry on Monday, said the approval, granted by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, follows a diligent verification and reconciliation undertaken by the Ministry to ensure that only duly validated obligations qualify for payment. The payments cover contractors across various Ministries, Departments and Agencies (MDAs) and represent a significant step in addressing long-standing payment obligations, particularly those affecting indigenous businesses and small and medium-sized enterprises (SMEs). Contractors prioritised for payment in the most recent batch are …
Read More