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Tag Archives: IMF

Again, Adeosun begs international community to halt illicit capital flows from Nigeria

Kemi Adeosun

In what looks like a more passionate appeal to the international community, the Minister of Finance, Mrs. Kemi Adeosun has urged developed countries to stop providing safe havens for corrupt individuals and their illegal funds. Speaking at the ongoing International Monetary Fund (IMF)/World Bank Group Spring meetings in Washington DC, United States, the minister said “To improve non-oil revenues, we ...

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IMF sees Nigeria growing by 0.8% in 2017 if…

imf visit

The International Monetary Fund (IMF) on Tuesday begins to see chances of early exit from recession this year and switch over to growth lane but at a paltry rate of 0.8 per cent after all. It said Nigeria, the continent’s most populous nation and a leading oil producer, was expected to return to growth in 2017 after a challenging 2016 ...

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Why Ahmed Makarfi-led PDP faction said FG’s economic recovery plan dead on arrival

makarafi PDP

More insights have emerged on why the Ahmed Makarfi-led Caretaker Committee of the Peoples Democratic Party (PDP) has described the economic recovery plan unveiled last Wednesday by President Muhammadu Buhari as “dead on arrival.” In a statement issued weekend by the spokesman of the PDP Caretaker Committee, Prince Dayo Adeyeye, made available to Business Hilights, the party based its argument ...

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Naira over-valued by 10 to 20 percent, IMF mocks CBN, presidential economic team

imf hqs

In what can be easily interpreted as reactions to the rebuffing of its advice by the Central Bank of Nigeria (CBN), the International Monetary Fund (IMF) on Wednesday fired back, claiming that Nigeria’s naira is over-valued by around 10 to 20 percent. A newly released critical report on government efforts to boost growth in Nigeria, IMF said “We do find ...

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LCCI picks holes in IMF’s recommendations relating to forex, economy

Muda Yusuf, LCCI boss

Less than one week after the International Monetary Fund (IMF) have advised the federal government and the Central Bank of Nigeria (CBN) in particular to lift ban on 41 forex restricted items to renew activities in the ports further close parallel forex rates, the Lagos Chamber of Commerce and Industry (LCCI) has reacted, saying both ideas are far away from ...

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CBN remains unstoppable in sustaining foreign exchange liquidity—Okoroafor

CBN MPC meeting

Contrary to the advice of the International Monetary Fund (IMF), the Central Bank of Nigeria (CBN) on Sunday reiterated its determination to sustain the provision of foreign exchange with a view to ensuring liquidity in the market and enhance accessibility and affordability for genuine end users. Experts had expected the apex bank to effect two of the key reformist ideas ...

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Lift forex ban on 41 items, criminalize Bureau D’Change to exit recession early—IMF

imf visit

The long awaited warning from the International Monetary Fund (IMF) finally came and two major contents include that the Federal Government need to lift the remaining foreign exchange restrictions on the 41 items and see how it can outlaw multiple exchange rates as soon as possible. The report came after the visit of the IMF officials to Nigeria to assess ...

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Finance Minister explains why FG went for World Bank, AfDB, dumping IMF

Kemi Adeosun

Minister of Finance, Mrs. Kemi Adeosun has given more reasons why the federal government preferred the borrowing plan of the World Bank and African Development Bank than the International Monetary Fund (IMF). She revealed that she has had an interesting conversation with former Finance Minister, Kalu Dika Kalu recently on the same issue. While describing the decision between World Bank ...

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IMF says global economic recovery ‘weak, precarious’

The global economic recovery remains “weak and precarious”, the International Monetary Fund has warned. In its latest World Economic Outlook, the IMF predicts “subpar” growth this year of 3.1%, rising slightly in 2017.

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