CBN: Nigeria Generates N29.95 Billion From Exportation of Electricity The Central Bank of Nigeria data report has revealed that Nigeria generated a sum of $72 million from electricity export in 2021, a naira equivalent of N29.95 billion, using the official exchange rate of N416/$1. This is...

Weak Digital Economy Hindering Many African Countries' Growth – World Bank   The World Bank has advised Nigeria and other African countries to focus on digital development as too many of Africa’s expanding youth population will be denied the opportunity to live up to their potential...

World Bank Suspends Nigerian Company, MD for Bribery THE World Bank has sanctioned a Nigerian information technology solutions company,  SoftTech IT Solutions and Services Ltd. and its Managing Director, Mr Isah Kantigi, for alleged corrupt practices. The Managing director of the company was sanctioned for 60 months; the...

Poor Nigerians To Hit 95.1m In 2022 - World Bank   The World Bank has said that poverty reduction stagnated since 2015, with more Nigerians falling below the poverty line over the years. President Muhammadu Buhari was first elected into the office of president of Nigeria in...

World Bank: Nigeria Couldn’t Save $342.1m with DSSI The World Bank report says Nigeria could have saved about $342.1m between January and December 2021 through the Debt Service Suspension Initiative (DSSI). This was disclosed on its website in a brief on Debt Service Suspension Initiative updated...

IMF, World Bank Partner On $5.2bn To Support Ukraine   The International Monetary Fund (IMF) and World Bank Group have announced they will respond to Ukraine’s request for urgent financing with about $5.2bn cumulatively. They disclosed this in a joint statement titled, ‘Joint IMF-World Bank Group statement...