Several Nigerians have taken to the comment section of social media pages of the First Abu Dhabi Bank of the United Arab Emirate to express opposition over plans by the Bola Tinubu government to secure $5 billion borrowing arrangement under the Total Return Swap, financing structure.
The development is coming after the International Monetary Fund on Tuesday cautioned the administration of Bola Ahmed Tinubu against proceeding with the proposed $5 billion borrowing arrangement with the First Abu Dhabi Bank of the United Arab Emirates under the Total Return Swap, financing structure.
The warning was issued by the IMF Resident Representative for Nigeria, Christian Ebeke, during the presentation of the Fund’s 2026 Article IV Consultation Report on Nigeria.
According to the IMF, the proposed financing arrangement is opaque and could expose Nigeria to significant financial risks.
Ebeke explained that such structures often lack transparency and may leave participating countries vulnerable to losses if the value of underlying assets declines or exchange rates move unfavorably.
Angered by Nigeria’s rising debt profile and worsening economic hardship, many Nigerians flooded comment sections on social media platforms, warning the Bank against approving the loan for the Nigerian government.
Don’t borrow Tinubu money, we don’t need money we are rich in our country; — Nigeria man cried out pic.twitter.com/Uir0bd8hVz
— OLUWA SEUN (@Oluwaseun__0) June 9, 2026
We heard you want to borrow money to @officialABAT the president of Nigeria for Nigerians, note that there is no meaningful reason for that, if you borrow that money to him, Nigerians are not to be held accountable for it. note that over 200million Nigerians aren’t in support
— Charles Stigberg (@CharlesSti92669) June 10, 2026
Please you guys should not borrow Nigeria government any money the government are not spending the money in Nigeria we the cities are telling you guys should stop to avoid issue in the future and to avoid war with us🇳🇬🇳🇬🇳🇬🇳🇬 we Nigeria 🇳🇬 are warning you guys
— Mr God’swill (@MrGodswillak) June 9, 2026
We have evidence that we told you guys should not borrowing money to Nigeria government. We want you guys so that if you guys borrow the money to Nigeria and they could not pay back the world will know that we told you guys should stop and there is war between us with you guys
— Mr God’swill (@MrGodswillak) June 9, 2026
@FABConnects we’re not interested in getting a loan… Don’t borrow Nigeria anymore money.. Our future is already bleeding from the past loans 😭
