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Amidst fear of a second wave of the COVID 19 pandemic, the International Monetary Fund, IMF has urged governments to keep their support programs in place while disclosing that global economy is 'not out of the woods yet'. IMF’s Managing Director Kristalina Georgieva made this known earlier today in a message to G20 Finance Ministers…
July 16, 2020
As the race for the top job of the World Trade Organization (WTO) reaches a crescendo, former World Bank Chief, Nigeria’s Dr. Ngozi Okonjo-Iweala, and other candidates have called for a quick vetting and announcement of the candidate for the job. Ngozi Okonjo-Iweala said she hoped members would make a quick decision, saying the world…
July 15, 2020
The Central Bank of Nigeria, CBN has revealed that Nigeria recorded a revenue loss of over N400bn in February 2020 due to shortfall in both oil and non-oil revenues. For February 2020, the federal government of Nigeria's monthly budget estimate stood at N1.246 trillion but was able to realize only N845.14 billion leading to a…
July 15, 2020
By Kolawole Ojebisi Starting from August 1, banks will be able to debit the accounts of loan holders in other banks to clear defaults. This was revealed in Global Standing Instruction (GSI) guidelines published by the Central Bank of Nigeria (CBN) on Monday. According to the CBN, the GSI, which was developed in collaboration with…
July 15, 2020
Following the sack of 850 refinery and oil workers by the Nigerian National Petroleum Corporation, NNPC, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) has condemned the action of the corporation as uncharitable and appalling. In a joint statement, the unions lambasted the…
July 14, 2020
In a bid to address the COVID-19 pandemic, advance policy reforms, and support African countries growth recovery efforts from the pandemic, the African Development Bank Group (AfDB) has announced the appointment of Dr. Rabah Arezki as Chief Economist and Vice President, Economic Governance and Knowledge Management, with effect from October 1, 2020. Arezki, who is…
July 14, 2020
President Muhammadu Buhari on Friday signed the revised 2020 budget of N10.8 trillion into law after months of stalling. He said the budget was revised to take into consideration, the impact of the Covid-19 pandemic on the economy. The National Assembly had passed the budget in June and forwarded it to the president for assent.…
July 10, 2020
After series of revisions of the 2020 budget occassiioned by the COVID 19 pandemic and oil price crash, President Muhammadu Buhari will today sign the revised 2020 budget into law following its passage by the National Assembly last month. This was confirmed by the Presidency in a tweet on its handle late on Thursday. “President…
July 10, 2020
The Executive Secretary of the UN Economic Commission for Africa (ECA), Ms. Vera Songwe has disclosed that the African Continental Free Trade Area (AFCFTA) is capable of playing the same role as Europe’s Marshall Plan while accelerating regional and economic integration in the continent. Songwe made this statement during a virtual panel by the African…
July 8, 2020
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Amidst fear of a second wave of the COVID 19 pandemic, the International Monetary Fund, IMF has urged governments to keep their support programs in place while disclosing that global economy is 'not out of the woods yet'. IMF’s Managing Director Kristalina Georgieva made this known earlier today in a message to G20 Finance Ministers…
July 16, 2020
As the race for the top job of the World Trade Organization (WTO) reaches a crescendo, former World Bank Chief, Nigeria’s Dr. Ngozi Okonjo-Iweala, and other candidates have called for a quick vetting and announcement of the candidate for the job. Ngozi Okonjo-Iweala said she hoped members would make a quick decision, saying the world…
July 15, 2020
The Central Bank of Nigeria, CBN has revealed that Nigeria recorded a revenue loss of over N400bn in February 2020 due to shortfall in both oil and non-oil revenues. For February 2020, the federal government of Nigeria's monthly budget estimate stood at N1.246 trillion but was able to realize only N845.14 billion leading to a…
July 15, 2020
By Kolawole Ojebisi Starting from August 1, banks will be able to debit the accounts of loan holders in other banks to clear defaults. This was revealed in Global Standing Instruction (GSI) guidelines published by the Central Bank of Nigeria (CBN) on Monday. According to the CBN, the GSI, which was developed in collaboration with…
July 15, 2020
Following the sack of 850 refinery and oil workers by the Nigerian National Petroleum Corporation, NNPC, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) has condemned the action of the corporation as uncharitable and appalling. In a joint statement, the unions lambasted the…
July 14, 2020
In a bid to address the COVID-19 pandemic, advance policy reforms, and support African countries growth recovery efforts from the pandemic, the African Development Bank Group (AfDB) has announced the appointment of Dr. Rabah Arezki as Chief Economist and Vice President, Economic Governance and Knowledge Management, with effect from October 1, 2020. Arezki, who is…
July 14, 2020
President Muhammadu Buhari on Friday signed the revised 2020 budget of N10.8 trillion into law after months of stalling. He said the budget was revised to take into consideration, the impact of the Covid-19 pandemic on the economy. The National Assembly had passed the budget in June and forwarded it to the president for assent.…
July 10, 2020
After series of revisions of the 2020 budget occassiioned by the COVID 19 pandemic and oil price crash, President Muhammadu Buhari will today sign the revised 2020 budget into law following its passage by the National Assembly last month. This was confirmed by the Presidency in a tweet on its handle late on Thursday. “President…
July 10, 2020
The Executive Secretary of the UN Economic Commission for Africa (ECA), Ms. Vera Songwe has disclosed that the African Continental Free Trade Area (AFCFTA) is capable of playing the same role as Europe’s Marshall Plan while accelerating regional and economic integration in the continent. Songwe made this statement during a virtual panel by the African…
July 8, 2020
