IMF Supports CBN On Cryptocurrency Ban       The International Monetary Fund (IMF) has confirmed that some crypto currencies were being used for money laundering and drug trafficking. This confirmation from the IMF thus corroborates what the Central Bank of Nigeria (CBN) has been saying about cryptocurrency transactions...

COVID-19: IMF Rules Out Nigeria’s Full Economic Recovery Before 2022       Nigeria’s recovery from the impact of the COVID-19 is expected to be weak and gradual under current policies, the International Monetary Fund said on Monday. The IMF also stated that the country’s real Gross Domestic Product...

NAICOM, NIA Clash Over Recapitalisation Of Insurance Firms       The National Insurance Commission, NAICOM, and the Nigerian Insurance Association, NIA, have disagreed over the appropriate recapitalisation model for insurance firms. While NAICOM has stipulated the general capital requirements for the different categories of the insurance business and...

IMF Rates Nigeria’s GDP As Best In Africa         Using the Gross Domestic Product (GDP) as yardstick, the International Monetary Fund (IMF) has rated Nigeria as the best economy in Africa. In its 2020 World Economic Outlook, the IMF also ranked Nigeria as one of the world’s...

Forex Interventions Give False Hope On Naira - IMF         Regular foreign exchange (forex) interventions in Nigeria and other emerging economies create false sense of security and hope on the local currency, the International Monetary Fund (IMF), has warned. Nigeria, which operates a flexible exchange rate regime,...

Naira Abysmal Appreciation By Adefolarin A. Olamilekan       These are not the good times for the Nigerian Naira currency. The Nigerian economy, its Central Bank, the custodian of its monetary policy, which many of her citizens expects to engineer sound monetary policy that would have safeguard the...