President Bola Tinubu has assured that his administration will continue prioritising the welfare of the poor and most vulnerable even as the economic reforms bear fruit. President Tinubu stated this on Wednesday night in Rio de Janeiro, Brazil, when the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, paid him a courtesy call on the sidelines of the …

The Academic Staff Union of Universities (ASUU) on Tuesday raised an alarm over a plot to sabotage the interest of public universities in the country. ASUU’s National President, Prof Emmanuel Osodeke, at an event marking the 2024 ASUU’s Heroes Day in Abuja, also accused the World Bank and the International Monetary Fund (IMF) of working relentlessly to destroy Nigeria’s public …

The Executive Director of Civil Society Legislative Advocacy Centre ( CISLAC), Comrade Auwal lbrahim Rafsanjani has called for the need for African nations to take charge of their economic liberation rather than relying on Western intervention. He described this dependence as a form of deception during the recently concluded 2024 IMF/World Bank Annual Meeting. The human rights activist emphasised that …

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has said that Nigeria’s $500 million domestic bond was oversubscribed despite warnings from the International Monetary Fund (IMF) not to issue the bond. On 15 August, the Federal Government launched a $500 million domestic bond, which commenced subscription five days later at $1,000 per unit to interested investors. …

Data from the International Monetary Fund (IMF) has shown Nigeria’s economy is expected to rise to at least $1.852 trillion in Purchasing Power Parity (PPP) terms by 2029. The IMF’s prediction shows a noteworthy growth path for the country’s economy over the next five years. The country’s GDP in PPP terms has been on the increase, projected to rise from …

The International Monetary Fund (IMF) has explained why the Central Bank of Nigeria (CBN) should issue operating licences or register cryptocurrency dealers. In its 2024 Staff Report released at the weekend, the IMF recommends that global crypto trading platforms be registered or licensed in Nigeria, like similar operators, the Bureaux De Change (BDCs), which are licensed by the CBN to …

The International Monetary Fund (IMF) has explained why it advised Nigeria to remove fuel subsidies, adding that the subsidy regime was robbing the poor for the rich. The Director of the African Department of the Fund, Mr. Abebe Selassie, provided insights into the organisation’s position, at the ongoing Spring Meetings of the IMF and World Bank in Washington DC. According …

The International Monetary Fund (IMF) has projected a 23 per cent inflation rate for Nigeria in 2025 and a further drop to 18 per cent in 2026. In its Global Economic Outlook released yesterday at the ongoing IMF/World Bank Spring Meetings in Washington D.C, Division Chief, IMF Research Department, Daniel Leigh, said Nigeria is moving in the right direction with economic reforms …

The International Monetary Fund (IMF) has said that financial institutions across the world lost a sum of $12 billion to cyber attacks in the past 20 years. IMF disclosed this in a report titled, ‘Global Financial Stability Report, April 2024’. The Bretton Wood institution said the financial sector is extremely exposed to cyber risk, adding that about one-fifth of the recorded cyber incidents …

The International Monetary Fund (IMF) has warned that the exchange rate of the Naira may further depreciate by about 35 per cent this year, adding that this could lead to inflation rate peaking at 44 per cent before the monetary policy tightening could bring the situation under control. IMF disclosed this in its February 2024 Post–Financing Assessment and Staff Report, …