By Pascal Ibe

Claim

An X account, @AfrcaFactsZone, claimed that Nigeria has been removed from the list of countries indebted to the financial institution.

Verdict

This claim is CORRECT. Latest data from the website of the International Monetary Fund(IMF) shows that Nigeria is no longer on the list of indebted countries. Also, credible reports had confirmed this.

Full Text

An X account, @AfrcaFactsZone, claimed that Nigeria has been removed from the list of countries indebted to the financial institution.

A post on 7th May by @AfricaFactsZone reads, “Nigeria no longer owes the IMF. The country has been removed from the list of countries indebted to the financial institution.

With many in doubt, the post has already garnered over a million views and thousands of reposts and likes.

Reno Omokri, a former aide to ex-President Goodluck Jonathan, also made the claim.

The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments and a leading supporter of exchange-rate stability. Its stated mission is “working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.”

Verification

Latest data dated May 7th, 2025, from the website of the International Monetary Fund(IMF) shows that Nigeria is no longer on the list of indebted countries.

The latest IMF report titled “Total IMF Credit Outstanding – Movement from May 01, 2025 to May 06, 2025”, indicates that Nigeria is no longer listed among the 91 developing and least developed countries with outstanding credit obligations to the IMF, which collectively owed $117.8 billion as of May 6, 2025.

StatiSense, a data organization, disclosed that Nigeria was no longer listed on the list of countries indebted to the IMF, and revealed that as of July 28, 2023, Nigeria owed the fund $1.61 billion.

StatiSense said the debt was reduced to $1.37 billion as of January 5, 2024; $933.03 million as of July 10, 2024; and $472.06 million as of January 8, 2025, before it was finally settled this month.

It was learnt that the value was converted from Special Drawing Rights (SDR), an international reserve asset created by the IMF to supplement the official reserves of its member countries, to US dollars.

See reports that corroborate this here and here.

Conclusion

The claim that Nigeria has been removed from the list of indebted countries is correct, according to the IMF’s latest data.