Nigeria Gets $3.35bn In IMF’s $650bn SDR Allocation       The Board of Governors of the International Monetary Fund (IMF) has approved a general allocation of Special Drawing Rights (SDRs) equivalent to $650 billion (about SDR 456 billion) to boost global liquidity. The Washington-based institution which disclosed this...

IMF Retains 2.5% Economic Growth Estimate For Nigeria       The International Monetary Fund (IMF) has retained Nigeria’s 2.5 percent economic growth forecast for 2021. The institution said this in its World Economic Outlook (WEO) for July titled “Fault Lines Widen in the Global Recovery” released on Tuesday...

Nigeria Faces Six-year Delay In Achieving SDGs - IMF       Nigeria faces a six-year delay in achieving Sustainable Development Goals, according to the International Monetary Fund. The Managing Director, IMF, Kristalina Georgieva, said this on Tuesday in a statement titled ‘UN high level political forum on sustainable-development’. She...

Africa Can Tap Into New Sources Of Finance, Says IMF     The International Monetary Fund (IMF) says Africa could tap into new sources of finance with radical transparency. Managing Director, IMF, Ms Kristalina Georgieva made the remark during a High Level Knowledge Event of the virtual 2021...

Gambian Central Bank Wants CBN to Fix her Currrency Bug. The Central Bank of Gambia (CBG)has appealed to Nigeria’s Central Bank (CBN) in fixing the Gambia’s currency bug. The Gambian request is coming just as it also wants to tap from CBN’s wealth of knowledge and...

Naira Crashes To N493/$ At Parallel Market     This is not the best of times for the naira. It crashed yesterday to N493/$ at the parallel market, losing N12 to the dollar within 24 hours. It closed on Tuesday at N481/$. The sharp depreciation came a day...