Alliance: Abu Dhabi $5bn Facility Raises Transparency, Risk Concerns
Says Tinubu’s reforms yielding gains but poverty, food insecurity remain high Urges FG to publish terms, drawdowns, collateral, utilisation of facility Queries N11.85tn borrowing, N30.64tn govt spending Says naira lost
The Alliance for Economic Research and Ethics has raised concerns over the transparency and risk implications of the federal government’s $5 billion Total Return Swap facility with First Abu Dhabi Bank. The group urged the government to disclose the material terms of the financing arrangement, as the facility involves public institutions, public collateral, and public repayment obligations, which should be subject to adequate public scrutiny.
The analysis, titled "The $5 Billion Abu Dhabi Financing: A Scorecard of Transparency, Risk and the Road Ahead," was released following the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele’s presentation of the government’s "Nigeria’s Economic Reforms: By the Numbers" scorecard.
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