The Federal government and the International Monetary Fund IMF have confirmed that Nigeria has completely paid off 3.4 billion borrowed during the COVID-19 pandemic.
Finance Minister Wale Edun and the IMF office in Washington have confirmed that Nigeria is no longer listed among the countries indebted to the international lender.
IMF resident representative for Nigeria, Christian Ebeke, said in a separate statement that the country has no outstanding IMF debt, though the government is expected to honor some additional payments of about 30 million dollars a year in Special Drawing Rights charges.
The IMF granted Nigeria emergency assistance in April 2020 as the COVID-19 pandemic shuttered affected global businesses and trade.
