We won’t publish details of $5bn Abu Dhabi loan – FG

The Federal Government has said it will not publish specific details of how it plans to spend funds drawn from its $5bn financing facility with First Abu Dhabi Bank.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the facility had already gone through the required approval process and was designed mainly to refinance more expensive government debt.
Oyedele spoke on Wednesday during a media briefing in Abuja, amid scrutiny of the financing arrangement and concerns raised by the International Monetary Fund and Fitch Ratings over its transparency and associated risks.
The Federal Government recently drew about $1.5bn from the $5bn Total Return Swap fac...