W’Bank, CBN, bankers brainstorm on economic recovery as Shettima urges partnerships
Nigeria’s economic quagmire should create serious concerns for Nigerians, especially finance experts, the World Bank, Central Bank of Nigeria (CBN) and Chartered Institute of Bankers of Nigeria (CIBN) warned yesterday, as the Federal Government seeks partnership on its recovery mission. With rising poverty, near total dependence on importation, dwindling revenue generation and spending by the Federal […]
NGX ASI climbs higher amid impressive H1 2023 earnings
Amid impressive earnings from quoted companies, trading on the floor of Nigerian Exchange Limited (NGX) resumed Tuesday with yet another significant milestone as its All-Share Index (ASI) surged to 68,334.68 points from 68,279.14 points, marking a 0.08 per cent increase. This achievement surpasses the previous record of 66,371.20 points set on March 5, 2008, following a […]
CBN to clear FX backlog in two weeks, refutes JP Morgan’s debt
The Central Bank of Nigeria (CBN) is making plans to clear the foreign exchange (FX) backlogs in the next one or two weeks, Folashodun Adebisi Shonubi, acting governor, CBN said. He disclosed this at a conference in Lagos on Monday. FX backlogs, which is the unmet demand for forex by investors and exporters, is estimated […]
World Bank delays $8.6bn loan to Nigeria – Report
Nigeria has about $8.25bn undisbursed World Bank loan as of July 2023, according to findings by The PUNCH. This was based on data obtained from the Summary Statement of Loans/Credit/Grants on the website of the World Bank. A breakdown further showed that the undisbursed loans included $7.45bn from the International Development Association and $1.12bn from […]