FG pays $22.5m in charges on controversial UAE loan
The Federal Government paid $22.5m in charges on its controversial $1.5bn Total Return Swap financing from First Abu Dhabi Bank in Q2 2026, DMO data shows. Read More: https://punchng.com/fg-pays-22-5m-in-charges-on-controversial-uae-loan/
In the second quarter of 2026, the Nigerian Federal Government paid $22.5 million in charges related to its controversial $1.5 billion Total Return Swap financing agreement with First Abu Dhabi Bank. This payment constituted 1.5% of the $1.5 billion drawn so far from the $5 billion financing program. The Debt Management Office (DMO) did not specify the nature of the charges, which could include arrangement, commitment, transaction, or other fees.
The payment represents 57.3% of all "other charges" incurred on Nigeria's external debt portfolio during the quarter.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
