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IMF approves $3.4 billion for Nigeria

More money is coming the way of the Federal Government to fight the Coronavirus (COVID-19) epidemic as the country’s request for $3.4 billion from the International Monetary Fund (IMF) has been approved.

 The approval came just about the same time that Nigeria’s Senate also approved President Muhammadu Buhari’s request to borrow N850 bn from the capital market.

The IMF loan which has a maximum repayment period of five years was approved by the Fund’s board Tuesday.

THE Fund removed Nigeria when it approved financial support to poor countries of the third world few weeks ago.

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