Alliance: Abu Dhabi $5bn Facility Raises Transparency, Risk Concerns

The Alliance for Economic Research and Ethics has called on the federal government to disclose the terms of its $5 billion Total Return Swap facility with First Abu Dhabi Bank, citing concerns over transparency and risk. The group noted that the facility involves public institutions, collateral, and repayment obligations, and therefore requires public scrutiny. It also queried the government's N11.85 trillion borrowing and N30.64 trillion spending, and highlighted that the naira has lost 29% of its value in four years. The group acknowledged that President Tinubu's reforms are yielding gains but said poverty and food insecurity remain high.

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