Atiku Abubakar, the African Democratic Congress’s presidential candidate, has demanded that the Debt Management Office (DMO) release a detailed external debt‑service schedule for Nigeria’s second quarter of 2026. The request was issued on Saturday by Phrank Shaibu, Director of Strategic Communications for the ADC Presidential Campaign Council.
Shaibu highlighted that the DMO recorded $39.25 million in “other charges” between April and June 2026. “This included $22.5 million against a First Abu Dhabi Bank Total Return Swap and about $8.97 million against Deutsche Bank AG,” he said. “The table recorded no principal or interest payment against the First Abu Dhabi Bank Total Return Swap during the quarter, only the $22.5 million classified as ‘other charges’.”
“What exactly was the $22.5 million charge for? Which agreement authorised it? What was the original facility? How much was drawn? What obligations remain outstanding? Nigerians are entitled to the terms and supporting documentation.”
Shaibu also called for a reconciliation of Treasury Bill borrowing. The DMO reported ₦19.48 trillion in outstanding Nigerian Treasury Bills as of 30 June 2026. “The government should publish what subsequently matured, what was redeemed, what was rolled over and what constituted genuinely new borrowing,” he added. “Auction allotments do not automatically equal an increase in outstanding debt because some issuances replace maturing bills.”
Atiku’s appeal underscores a demand for greater transparency from the Tinubu administration on the country’s debt obligations and borrowing practices.
<small>Source: Daily Post Nigeria — read the original story there.</small>
