EXPLAINER: Nigeria Still Owes IMF Billions Despite Clearing Loan Obligation

The full repayment of Nigeria’s principal loan to the International Monetary Fund (IMF) has made major headlines since Monday. 

According to media reports and IMF records, Nigeria has completely repaid the $3.4 billion emergency loan it received at the height of the COVID-19 pandemic. 

The final instalment was paid in April, and Nigeria was subsequently removed from the IMF’s debtors list published in May. 

By Timileyin Akinmoyeje.

Full story at Foundation for Investigative Journalism