...MDs to partner CBN to resolve FX issue ...Wigwe heads bank CEOs’ body ...Naira plummets to N410/$ If the Central Bank of Nigeria (CBN) does not rescind its decision on the eight lenders it barred from foreign exchange transactions, their correspondent banks have threatened to keep them...

Nigeria’s economy, the biggest in Africa, is likely to contract by 1.8 per cent this year, the International Monetary Fund has said. The Washington-based lender cut its 2016 growth forecast for Nigeria from 2.3 per cent projected in April, according to its World Economic Outlook...

Nigeria’s economy will most likely contract this year as energy shortages and the delayed budget weigh on output, the International Monetary Fund has said. “I think there is a high likelihood that 2016 as a whole will be a contractionary year,” the IMF Country Representative...

  The International Monetary Fund (IMF) has declared another damning outcome for Nigeria’s economy and its growth prospects in 2016, as the expectations of improved Gross Domestic Product (GDP) was dashed with poorer projection at 2.3 per cent, worse than 2.7 per cent in 2015. The...

The Central Bank of Nigeria needs to devalue the naira by adjusting the official exchange rate of N199/dollar to a more market-determined exchange rate, the International Monetary Fund has said. This position sharply differs from that of President Muhammadu Buhari, who insisted that Nigeria would...