FG won’t publish details of $5bn Abu Dhabi loan — Oyedele
Finance Minister Taiwo Oyedele states the Nigerian government will not publish specific details of the $5bn Abu Dhabi loan, citing transparency and refinan Read More: https://punchng.com/fg-wont-publish-details-of-5bn-abu-dhabi-loan-oyedele/
The Minister of Finance, Taiwo Oyedele, has dismissed calls for the Federal Government to disclose details of its $5bn loan from First Abu Dhabi Bank. Oyedele stated that the transaction faced unnecessary scrutiny and was approved by the National Assembly. He explained that the loan was structured to help the government refinance more expensive debt and was drawn in phases to avoid unnecessary costs.
Oyedele also noted that the arrangement differed from Nigeria's traditional fixed-rate borrowing due to its flexible interest rate. He emphasized that the government would publish information on how it spends public funds, but questioned the special attention the First Abu Dhabi Bank transaction was receiving.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
