Diaspora Nigerians remitted $168bn in eight years – World Bank
The Nigerian Diaspora community has remitted $168.33bn to the country in the past eight years, according to World Bank reports…
FAAC: Allocation drops as FG, states, LGs share N715bn
The Federation Account Allocation Committee (FAAC) says it shared N714.63bn among the three tiers of government in March 2023. The…
Nigeria is defaulting in debt repayment to China – DMO
Nigeria has failed to service its debt to China which has accumulated to N110.31 billion in the last two years.…
Currency in circulation rises by 71% to N1.6tn, says CBN
The currency in circulation in the country jumped by N701.4tn in one month to hit N1.6tn in March, 2023 after…
Nigeria’s external reserves slide further to $35bn
Nigeria’s external reserves fell by $112.78m in two weeks to $35.42bn, figures obtained from the Central Bank of Nigeria have…
World Bank lists challenges for incoming FG, drops growth rate forecast
Against the backdrop of the imminent assumption of office, the World Bank Group, WBG, has given a long list of…
IMF pushes for interest-free loans for developing countries
Multiple economic shocks in recent years, amid a slow rise in per capita income in more than three decades, have…
FG to generate $500m from cashew export in 2023, says NEPC
The Nigerian Export Promotion Council (NEPC) says it plans to double the amount of revenue generated from cashew exports in…
CBN to mop up dormant account balances, unclaimed funds
The Central Bank of Nigeria (CBN) has proposed that banks should transfer funds in accounts that have been dormant for…
IMF advises countries on way out of inflation, currency crises
Countries are expected to adopt a plan to wriggle out of high-level inflation and chronic currency crises, the International Monetary…