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December 2, 2023
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Nigeria Seeks $1.5bn Loan From World Bank

Nigeria Seeks $1.5bn Loan From World Bank

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has revealed that Nigeria is seeking  a $1.5 billion loan from the World Bank to support its budget, while the International Monetary Fund…

How Brain Drain In Nigeria Can Boost Remittances – IMF

How Brain Drain In Nigeria Can Boost Remittances – IMF

The Federal Government has been advised to capitalise on the brain drain problem in the nation, Saturday Telegraph reports. The International Monetary Fund (IMF) who made the call in a statement by its Director for…

IMF Urges Nigeria And Sub-Saharan Africa To Cut Fiscal Deficit

IMF Urges Nigeria And Sub-Saharan Africa To Cut Fiscal Deficit

Nigeria and other Sub-Saharan African nations have been cautioned by the International Monetary Fund (IMF) to cut their fiscal deficits by 3% in order to prevent the escalation of debt crises. Fabio Cormelli, an economist…

Emefiele: DSS Arrests CBN Deputy Governor, Kingsley Obiora

Emefiele: DSS Arrests CBN Deputy Governor, Kingsley Obiora

The Deputy Governor of the Central Bank of Nigeria (CBN) in charge of economic policy, Kingsley has been reportedly arrested by the operatives of the Department of State Services (DSS). It was widely reported that…

Ghanian Minister Resigns For Corruption Charges

Ghanian Minister Resigns For Corruption Charges

A Ghanaian Minister who resigned over the weekend after her domestic worker allegedly stole more than $1 million in cash from her home has been arrested for suspected corruption, a special prosecutor said. Ghana Special…

France Hosts Summit For New Financial System

France Hosts Summit For New Financial System

On Thursday, France hosted a summit to boost crisis financing for low-income countries, reform post-war financial systems, and free up funds to tackle climate change. Dignitaries at the world summit tagged, “Summit for a New…

IMF Backs CBN’s New Exchange Rate Policy

IMF Backs CBN’s New Exchange Rate Policy

The International Monetary Fund (IMF) on Friday gave its backing to the Central Bank of Nigeria’s (CBN) exchange rate unification policy. The policy, which merged all exchange rates into the Investors and Exporters (I&E) window,…

IMF, World Bank Important Counterweights To China – US Treasury

IMF, World Bank Important Counterweights To China – US Treasury

The United States Treasury Secretary, Janet Yellen on Tuesday said that International Financial Institutions (IFIs), such as the World Bank and the International Monetary Fund (IMF), are important in balancing China. Yellen lauded the institutions that…

Nigeria Spends Huge In Servicing Foreign Debt

Nigeria Spends Huge In Servicing Foreign Debt

The released data by the Central Bank of Nigeria (CBN) has revealed that the Federal Government spent $894 million to service foreign debt obligations from January to April 2023. The export and international payment data…

IMF: ENaira Adoption Is Disappointedly Low

IMF: ENaira Adoption Is Disappointedly Low

The public adoption of the eNaira has been characterized as unbelievably low by the International Monetary Fund (IMF). The Bretton Woods organization recently published a working paper titled “Nigeria’s eNaira, One Year After” that detailed…