In March 2026, the Nigerian government secured fast approval from the National Assembly for a major $5 billion financing arrangement with First Abu Dhabi Bank (FAB), one of the biggest banks in the United Arab Emirates. President Bola Tinubu’s administration presented this as a smart way to access dollars at a lower cost to refinance expensive debts and fund key infrastructure projects. But the deal has sparked debate and concern, especially after the International Monetary Fund (IMF) issued strong warnings about its risks. [...]