Thursday, November 15, 2018

Tag "imf"

    PMB: Ministers will account for every govt kobo

PMB: Ministers will account for every govt kobo

President Muhammadu Buhari says under his watch, ministers will fully account for all funds that get into their coffers.Speaking on Tuesday when he Received Christine Lagarde, managing director of the International Monetary Fund (IMF), at the presidential villa  in Abuja, Buhari said his administration would look inwards to stop financial leakages and adopt global best practices in generating more revenue to mitigate [...]

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    Subsidy removal, naira devaluation… 5 things IMF boss, Lagarde, discussed with Buhari

Subsidy removal, naira devaluation… 5 things IMF boss, Lagarde, discussed with Buhari

Christine Lagarde, managing director of the International Monetary Fund (IMF), advised President Muhammadu Buhari and his team to be flexible with its monetary policy and let go of petroleum subsidies.At a meeting in Abuja on Tuesday, Lagarde said Nigeria would not need any programme and/or loan from the IMF to enhance its economy.Speaking at a press conference in Abuja, Lagarde, [...]

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    IMF boss, Lagarde, to meet Buhari on low oil prices

IMF boss, Lagarde, to meet Buhari on low oil prices

Christine Lagarde, managing director of the International Monetary Fund (IMF), will meet President Muhammadu Buhari in Abuja on Monday to discuss Nigeria’s economic challenges.Largarde would be visiting Nigeria and Cameroon during January 4–9, 2016, to engage with policy makers and other stakeholders in both countries and from the region and to underline the IMF’s strong relationship with its African member [...]

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    IMF predicts oil could slump to $20 in 2016

IMF predicts oil could slump to $20 in 2016

The days ahead may just be harder than envisaged as the International Monetary Fund (IMF) says crude oil prices may slump to as low as $20 per barrel in 2016.Following the release of the “IMF Executive Board Concludes 2015 Article IV Consultation with Iran” report, the body highlighted that the price of crude oil could drop between $5 and $15 in [...]

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    Ghana’s president bans first class travel for govt officials

Ghana’s president bans first class travel for govt officials

President John Mahama of Ghana has banned government officials from flying first class, according to Reuters.The agency quoted Edward Omane Boamah, the country’s communication minister, as saying the presidency issued the directive in order to avoid "unwarranted foreign trips on the public purse”.The development was described as a renewed effort to cut wasteful spending as part of the implementation of [...]

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    CBN shifts naira peg as reserves fall again

CBN shifts naira peg as reserves fall again

The Central Bank of Nigeria (CBN) has shifted the fixed naira peg on the interbank market, following another fall in the country’s foreign reserves.The foreign reserves fell by about $350 million, from $30.48 billion as at September 30 to $30.13 billion as of October 27.The reserves fell by over a billion dollars between August and September, exposing the country to [...]

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    I was once a refugee, says World Bank president

I was once a refugee, says World Bank president

Jim Yong Kim, president of the World Bank, has identified with the ongoing migrant crisis in the world, saying he was once a refugee.The 55-year-old Korea born American said this while fielding questions from journalists at the 2015 WBG/IMF annual meeting in Lima, Peru.He commended European countries for their efforts in settling migrants off the coast of Libya.“We've been watching [...]

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    Fuel subsidies ‘must end’, says World Bank

Fuel subsidies ‘must end’, says World Bank

Jim Yong Kim, president of the World Bank has called on world leaders to put an end to fossil fuel subsidies.The president who spoke at the at the opening press conference of the 2015 World Bank/IMF annual meetings in Lima, Peru, said to earnestly combat climate change, fuel subsidies must go.“Climate change affects every nation and every person, but it [...]

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    Economic growth slow in 2015, says World Bank

Economic growth slow in 2015, says World Bank

The world economic growth for the year 2015 is set to disappoint, as it slows at 3.1 percent for the year 2015, the World Bank has revealed.According to the bank’s global monitoring report for 2015/2016, “world economic growth in 2015 is set to disappoint, down to 3.1 percent, from 3.4 percent in 2014, on the basis of slower growth in [...]

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    Falana: Buhari does not need G7 to succeed

Falana: Buhari does not need G7 to succeed

Legal practitioner and human rights activist, Femi Falana, has opposed the decision of President Muhammadu Buhari to solicit assistance from G7 in solving the Boko Haram challenge or any other.The lawyer said the assistance that Nigeria sought from the International Monetary Fund (IMF) and World Bank nearly three decades remains a contributory factor to the high level of poverty recorded [...]

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    Insecurity treathening to Nigeria’s economic growth, IMF warns

Insecurity treathening to Nigeria’s economic growth, IMF warns

The International Monetary Fund (IMF) has warned Nigeria of the negative consequences of insecurity for its economic growth.The IMF made the prediction in its 2013 Article IV Consultation and Staff Report on Nigeria, presented in Washington DC, United States on Wednesday.In the report, the IMF listed Key downside risks, which include persistently lower oil revenue from changing global dynamics and [...]

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Exchange Rates

November 13, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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