Nigeria's Economy May Drop to Fourth Largest in Africa – IMF Nigeria’s economy, which ranked as Africa’s largest in 2022, is set to slip to fourth place this year after a series of currency devaluations, International Monetary Fund forecasts show. The IMF’s World Economic Outlook as...

Nigeria Issues N8trn in Treasury Bills to Stabilise Economy – Finance Minister The Minister of Finance and Coordinating Minister of Economy, Wale Edun, on Thursday said the fiscal authority is complementing the efforts of the Central Bank towards ensuring the stability of the economy through...

Global Financial Institutions Lost $12 billion to Cyberattacks in 20 years – IMF The International Monetary Fund (IMF) has revealed that financial institutions lost a total of $12 billion to cyberattacks in the last 20 years. Out of this amount, $2.5 billion was lost between 2020...

N2.3trn Required to Sustain Fuel, Electricity Subsidy, IMF Cautions The International Monetary Fund (IMF) has warned that continuation of fuel and electricity subsidy will cost Nigeria N2.33 trillion or three per cent of its Gross Domestic Product, GDP in 2024. The warning was contained in the...

N2.3trn Required to Sustain Fuel, Electricity Subsidy, IMF Cautions The International Monetary Fund (IMF) has warned that continuation of fuel and electricity subsidy will cost Nigeria N2.33 trillion or three per cent of its Gross Domestic Product, GDP in 2024. The warning was contained in the...

FX crisis: Ex-CBN Deputy Governor Proposes $30bn IMF Stabilisation Fund Former deputy governor of the Central Bank of Nigeria (CBN) Kingsley Moghalu has proposed a $20-30 billion International Monetary Fund (IMF) stabilisation facility to solve the lingering foreign exchange (FX) crisis. “To get out of Nigeria’s...