Nginx-Ingress-Controller Forever on "Scheduled for Sync"

I have an ingress for my application:

apiVersion: 
kind: Ingress
metadata:
  name: myapi-ingress
  annotations:
     "true"
spec:
  ingressClassName: nginx
  rules:
  - host: mysite.com
    http:
      paths:
      - path: "/posts"
        pathType: Prefix
        backend:
          service:
            name: myservice
            port:
              number: 80

When I run kubectl describe ing myapi-ingress, I can see that the ingress is stuck in sync state:

Events:
  Type    Reason  Age                From                      Message
  ----    ------  ----               ----                      -------
  Normal  Sync    26m (x2 over 27m)  nginx-ingress-controller  Scheduled for sync

PS. Before this happens, I tried to install another ingress for internal usage under another namespace and ingressclassname.

I'm getting 404 when I try to hit this endpoint. Nothing in the logs.

What is the problem?