Harness youths for post-COVID-19 economic recovery

By Mustapha Sumaila The African Development Bank (AfDB) says harnessing the youth workforce can speed economic recovery in the post-COVID-19 era in the West African countries. The AfDB’s Communications and External Department made this known in a statement on Friday on in its regional economic outlook report. It stated that the virtual launch of the […]

Ireland’s ex-president, Mary Robinson, to lead probe into AfDB Chief

Akinwumi Adesina Ireland’s former president Mary Robinson will lead a panel to investigate the leader of the African Development Bank (AfDB), accused by whistleblowers of corruption, the bank said. Akinwumi Adesina, 60, a charismatic speaker known for his elegant suits and bow ties, became the first Nigerian to helm the AfDB in 2015 — but […]

Nigeria Records 1.87% Growth in Q

By James Emejo Nigeria’s Gross Domestic Product (GDP) grew by 1.87 per cent (year-on-year) in real terms in the first quarter of 2020 (Q1 2020), the National Bureau of Statistics (NBS) stated Monday. The performance recorded represented a contraction of 0.23 per cent compared to Q1 2019 and a contraction of 0.68 per cent compared […]

We’ll prosecute Nigerians evading tax on foreign properties – Malami warns

By Nwafor Sunday The Attorney General of the Federation, Abubakar Malami, Friday warned Nigerians evading tax on foreign properties to stop, noting that Federal Government would henceforth prosecute anybody found guilty. Disclosing this in a statement signed by his Spokesman, Umar Gwandu, Malami also warned banks to desist from further shielding Nigerian citizens, noting that […]

COVID-19: The Economy will go into recession – FG

COVID-19: Economy’ll go into recession — FG ON May 21, 20209:59 PMIN NewsBY Urowayino Jeremiah Kindly Share This Story: Says Nigeria faces huge economic downturn; We haven’t seen the worst yet — Badaru GDP to contract by -8.94% in 2020; NEC sets up c’ttee to reopen economy By Johnbosco Agbakwuru ABUJA—THE Federal Government yesterday painted […]

Debtors Africa, Proshare unveil database on delinquent debtors

By Chinyere Joel Nwokeoma Debtors Africa, in partnership with Proshare, have launched an independent searchable database of recalcitrant and delinquent debtors in Africa. They also launched Debtors Report. Debtors Report is a comprehensive analysis of the debt/non-performing loans situation in Nigerian banking industry. Mr Bayo Awoyemi, Team Lead, Debtors Africa, said in a statement on […]

Emefiele assures investors of safety of investment in Nigeria

Godwin Emefiele By Mustapha Sumaila  Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has assured investors of the security of their investments in the country in spite dwindling revenue from the sale of crude oil globally. The CBN’s Director, Corporate Communications Department, Mr Isaac Okoroafor, in a statement on Sunday, said Emefiele gave the […]

LOOMING RECESSION: Difficult times ahead, Okonjo-Iweala warns

Okonjo-Iweala By Chris Onuoha A former Minister of Finance and erstwhile Managing Director of the World Bank, Dr Ngozi Okonjo-Iweala, warns of difficult times ahead on the heels of looming global recession occasioned by the coronavirus pandemic. Excerpts of interview: Oil prices have been going down and the consequences appear dire for Nigeria among many […]

Osinbajo panel meets Buhari’s economic advisory council

Tobi Aworinde, Abuja The Economic Sustainability Committee, chaired by Vice-President Yemi Osinbajo, on Thursday, met with members of the Presidential Economic Advisory Council over a sustainability plan by the committee. The President, Major General Muhammadu Buhari (retd.), had, on April 2, inaugurated the committee with the aim of tackling the economic challenges and fallouts of […]

Nigeria gets $3.4bn loan from IMF

The International Monetary Fund(IMF) has approved Nigeria’s request for $3.4 billion loan to fight the devastating effect of the COVID-19. The loan, which has a maximum repayment period of five years was approved by the Fund’s board Tuesday. The emergency financial assistance was approved under the Rapid Financing Instrument to support the authorities’ efforts in […]

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