EconomyMarket

International Monetary Fund to support Nigeria as the Naira is estimated at N663/$

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June 17, 2023
The naira traded at 663.04/dollar at the close of business on Friday after a free fall following the Central Bank of Nigeria’s floating of the national currency against the dollar and other global currencies. This means that the currency appreciated by about 5.9 per cent within 24 hours from the N702.19/dollar recorded at the close of business on Thursday. According to data from the FMDQ…
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Magazine

Missing 2030 emission reduction target risky - IMF

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February 27, 2023
Failure to control emissions by 2030 could lead to more than 2 degrees of global warming by 2030, a catastrophic tipping point for further climate change, according to an International Monetary Fund report. Public Understanding of Politics” notes that concerns about…
Banking

New Naira: World Bank Warns IMF, CBN Postpones S'Court Friday Deadline.

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February 9, 2023
The Supreme Court on Wednesday restrained the Federal Government from implementing the Friday deadline for the currency swap. A seven-man panel of the apex court led by Justice John Okoro, in a unanimous ruling, granted an interim injunction restraining the Federal Government, the Central Bank of Nigeria and commercial banks from implementing the Friday terminal date for the old naira notes. Also…
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Banking

Nigeria’s growth prospect retain 3.4% under IMF

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July 27, 2022
The International Monetary Fund (IMF) has retained projected economic growth of 3.4 per cent for Nigeria in 2022. The Washington-based institution disclosed this on Tuesday in its World Economic Outlook (WEO) for July 2022 entitled, “Gloomy and More Uncertain”. At its…