Thursday, November 15, 2018

Tag "World Bank"

    Nigeria drops on World Bank’s Ease of Doing Business ranking

Nigeria drops on World Bank’s Ease of Doing Business ranking

Nigeria has dropped a spot on the latest World Bank Ease of Doing Business ranking.The bank released the report themed 'Doing Business 2019: A Year of Record Reforms, Rising' on Wednesday.In the 2017 edition of the report, Nigeria moved 24 places from its 2016 spot of 169 to 145.In the 2018 edition, Nigeria ranked 146. Mali took Nigeria's 2017 spot.The [...]

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    Arunma Oteh to exit World Bank for Oxford University

Arunma Oteh to exit World Bank for Oxford University

Arunma Oteh, World Bank treasurer and vice president, will exit the bank by December 1 to join Oxford University.Reuters reports that Oteh, who joined the Bretton Wood institution in 2015, will be joining St Antony's College in Oxford as an academic scholar in January 2019.This is before the end of her tenure as World Bank treasurer.In a note sent to [...]

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    World Bank ranks Kaduna first in property registration, contract enforcing

World Bank ranks Kaduna first in property registration, contract enforcing

The World Bank has ranked Kaduna state number one in registering property and enforcing contracts in its latest ranking of doing business in Nigeria.The bank also ranked Kaduna State fifth in ease of doing business and 17th in dealing with construction permits.In its 'Doing Business in Nigeria' report released on Friday, the bank ranked the federal capital territory first in [...]

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    Zainab Ahmed: Nigeria’s low human capital development ranking depressing

Zainab Ahmed: Nigeria’s low human capital development ranking depressing

Zainab Ahmed, the minister of finance, says Nigeria’s spot on the Human Capital Development ranking released by the World Bank is depressing.The newly-appointed minister expressed her views while speaking with journalists on Sunday at a press conference to mark the end of the 2018 annual meetings of the International Monetary Fund (IMF) and World Bank Group.The World Bank had ranked [...]

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    Herder-farmer crisis: World Bank cuts Nigeria’s growth forecast

Herder-farmer crisis: World Bank cuts Nigeria’s growth forecast

The World Bank has cut back on Nigeria's growth forecast for 2018, stating that the country's gross domestic product (GDP) will grow by only 1.9 percent -- down from estimated 2.1 percent estimated in April.The Washington-based lender said this was as a result of the reduction in oil production levels in the continent's biggest economy, and contraction in the agricultural [...]

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    LBS suggests using religious institutions to improve financial inclusion

LBS suggests using religious institutions to improve financial inclusion

The Lagos Business School (LBS) says religious institutions may be a way of improving financial inclusion amongst Nigerians.In the Nigeria Customer Segmentation Framework released on Thursday, the institution grouped Nigerians who didn't have access to financial services into six groups.The groups are vulnerable believers, which form 12% of the population; resilient savers, which form 21% of the population; dependent individualists, [...]

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    Report: Lagos is third worst city to live in the world

Report: Lagos is third worst city to live in the world

People living in Lagos, Nigeria's economic capital, are inhabiting the third worst city for humans to live in the world.This is according to the newly released ranking of the 2018 Global Liveability Index released by The Economist Intelligence Unit and World Bank.Lagos ranked 138 out of the 140 cities considered for the ranking.The only cities which were scored lower than [...]

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    World Bank pledges support for Nigeria’s economic growth, says it’s a top priority

World Bank pledges support for Nigeria’s economic growth, says it’s a top priority

The World Bank says it is willing to provide technical support to Nigeria in critical areas to facilitate the country’s economic growth and development.A statement from the ministry of budget and national planning quoted Hafez Ghanem, World Bank’s vice-president for Africa as saying Nigeria is “top priority” during a discussion with Udo Udoma, the minister, in Abuja on Thursday.Ghanem said [...]

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    NBS partners World Bank for ‘appropriate’ poverty report (updated)

NBS partners World Bank for ‘appropriate’ poverty report (updated)

Yemi Kale, the statistician-general of the federation, says the National Bureau of Statistics has partnered with the World Bank to conduct the living standard survey.According to the statistician, this is the appropriate methodology for poverty computation."Nigeria via NBS and World Bank are currently doing the living standard survey which is the appropriate methodology for poverty computation," he said in response [...]

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    World Bank approves $2.1bn loan for Nigeria

World Bank approves $2.1bn loan for Nigeria

The World Bank says it has approved a loan of $2.1 billion for seven projects in Nigeria.Earlier in the year, top executives from the bank toured some projects in the country.According to a statement released on Thursday, the seven projects cover areas like nutrition, access to electricity, states’ fiscal transparency, polio eradication, women’s economic empowerment, public finance and national statistics [...]

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    FG should probe syndicate ‘issuing fake CAC certificates’ to NGOs

FG should probe syndicate ‘issuing fake CAC certificates’ to NGOs

The Center for Social Awareness, Advocacy and Ethics (CSAAEINC), a non-profit organisation, has called on relevant government agencies to investigate a syndicate allegedly issuing fake Corporate Affairs Commission (CAC) certificates to non-governmental organisations (NGOs).Godswill Agbagwe (pictured), president of CSAARINC, made the call at a press briefing in Abuja on Friday.The group’s president, who is in the country for some youth conferences [...]

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    Nigeria not getting complacent as oil prices rise, Adeosun assures World Bank

Nigeria not getting complacent as oil prices rise, Adeosun assures World Bank

Kemi Adeosun, minister of finance, says Nigeria is focused on accelerating economic growth rate and will not be "complacent around the increase in oil prices".Speaking on Thursday in Abuja, Adeosun told a delegation of World Bank executives that the federal government is “optimistic and vigilant,” and is working to consolidate on the gains of increased revenue by spending more.The minister [...]

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    World Bank: Despite exit from recession, Nigeria’s poverty increased in 2017

World Bank: Despite exit from recession, Nigeria’s poverty increased in 2017

The World Bank says unemployment and poverty rates increased in Nigeria despite an exit from recession in 2017.The Bretton Wood institution made these remarks in a report released on Monday.The report titled 'Nigeria Bi-annual Economic Update: Fragile Recovery' read: "The decline in the non-oil, non-agriculture sector, however, continued, as aggregate demand remained weak and private sector credit low."The rates of [...]

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    Adeosun: No apologies for borrowing to end recession

Adeosun: No apologies for borrowing to end recession

Kemi Adeosun, minister of finance, says the current administration has no apologies for borrowing to end recession.In 2016, Nigeria's economy slipped into its worst recession in 29 years and the government deployed various debt instruments like Eurobonds, Savings bond and Sukuk to raise funds.Speaking with journalists on the sidelines of the ongoing Spring meetings of the International Monetary Fund and [...]

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    World Bank: African countries’ subsidies help the rich more than the poor

World Bank: African countries’ subsidies help the rich more than the poor

Jim Yong Kim, World Bank president, says subsidies provided by African countries help the rich more than the poor.Speaking to journalists at the ongoing Spring meetings of the International Monetary Fund (IMF) and World Bank in Washington DC, Kim said African countries could raise revenue for investing in health and education by removing these subsidies."They should be better at collecting [...]

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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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