Nigeria’s international debt jumps to $31.98bn
The Debt Management Office (DMO) says Nigeria took loans worth $31.98 billion from World Bank Group, International Monetary Fund (IMF), African Development Bank (AfDB) Group and others as of September 2020. This is contained in the September 30, 2020, debt…
Online trading becoming more attractive in Africa, says INFINOX.com
By Jay Mawji While the International Monetary Fund (IMF) acknowledges the damaging recession effects of Covid-19 in Africa the economic outlook for the continent remains optimistic, as the introduction of technologies brings with it accessibility and exposure to economic and…
Customs’ scannerless seaports structured to feed on corruption—IMF
The International Monetary Fund (IMF), weekend joined thousands of Nigerians and port business operators in condemning the endless assurances by the Nigerian Customs Services (NCS) in providing scanners that will end 100% physical examination of cargoes. Business Hilights recalls that…
Know Nigeria’s new Deputy CBN Governor designate; Kingsley Isitua Obiora
Kingsley Isitua Obiora, ever since rising to professional stardom, has been a serial record-breaker who has just been appointed Central Bank of Nigeria’s (CBN)s deputy governor, by President Muhammadu Buhari. Whereas his appointment is waiting for the National Assembly ratification,…
Jumping Nigeria, other developing nations’ debt could crash economies—W’Bank
…As Nigeria set to borrow $30bn abroad Less than 24 hours former Vice President, Aitku Abubakar had warned that the ongoing move to borrow additional $30bn, has all it take to turn the ailing economy into biting debt crisis, the…
Beyond AfCFTA treaty, free trade must be within mutual agreements—IMF
Contrary to analysts’ expectations, the International Monetary Fund (IMF) has supported Nigeria’s border closure with some neighbouring countries, saying beyond any kind of international treaties, the sovereignty of every nation is determined by its internal policies. Otherwise, the Director of…
Forex ban on 43 items holding back Nigeria’s FDI—IMF
…CBN insists policy strengthening naira, backward integration The International Monetary Fund (IMF), has revealed that contrary to the thinking of the Central Bank of Nigeria (CBN) that forex restrictions on 43 items are driving backward integration in the local manufacture…
Nigeria @ 59: Dichotomy in exchange rate major minus for transparency, FDIs
Key pundits in financial services and foreign investors’ confidence analysis in Nigeria have argued that the continued dichotomy in exchange rate as currently driven by the Central Bank of Nigeria (CBN) remains a big minus in the crusade for Foreign…
‘New IMF chief, Georgieva may be harder on Nigeria than outgoing Lagarde’
Strong indications have emerged suggesting that the incoming chief executive of the International Monetary Fund (IMF), former World Bank chief and Bulgarian export, Ms. Kristalina Georgieva may not only adopt but step up the hard stand on Nigerian policies by…
FG’s no plan to remove fuel subsidy may cause hard landing for Dangote fuel
Considering the fact that Dangote Refinery which is expected to pump products into Nigerian market from next year is coming with sulphur-free fuel which is currently over one dollar in the international market, there are strong indications that the Federal…
