The finance minister of Nigeria, Taiwo Oyedele, has decided to be reserved with the details of the government’s intention regarding a $5 billion loan the West African country received from the United Arab Emirates.
Taiwo Oyedele, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, argued that the loan has been subject to intense criticism despite approval by the country's federal legislators.
As a result, the minister declined requests for the government to disclose details regarding the allocation of funds accessed from its $5 billion financing facility with First Abu Dhabi Bank, as reported by the Punch Newspaper.
“We will not publish how we are spending it. We will publish how we spend government money. There’s nothing special about that loan,” he said during a media briefing in the country’s capital, Abuja.
“Nobody has asked us whether we’re going to publish the money we took from the World Bank, whether we publish the one from Eurobond, whether we publish the one from Sukuk. Why is this one special?”
