Nigeria’s central bank revealed significant dollar deals with JP Morgan (USD 7 bln in 2021) and Goldman Sachs (USD 500 mln). However, the bank exceeded its lending limit to the government, which legally stands at 5% of federal revenue. The IMF warned that this persistent lending could cause various economic issues. These revelations coincide with the naira’s value falling around 40% against the dollar after president Bola Tinubu’s reforms.