Nigeria joins the list of countries not on the IMF’s debt list by paying back a whopping $3.4 billion to shutter the blow of the COVID-19 pandemic in 2020. The West African country has been wrought with a lot of economic instability and price inflation and the loan was meant to cushion the economic blow. President Tinubu made the decision to return Naira to a free-floating currency which led to the currency losing more than 60% of its value against the dollar.