Nigerian national broadcaster
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Arise News · Nigeria · Nigeria draws first $1.5bn from $5bn Abu Dhabi swap deal; IMF flags opacity risk
Confirms the official government announcement from Finance Minister Taiwo Oyedele after the June 30 FEC meeting. Reports the government drew funds in phases to reduce borrowing costs, with the first $1.5bn priced at SOFR plus 395 basis points.
“FG confirms $1.5bn UAE loan drawdown, says staggered borrowing will cut debt costs.”