Nigeria will need 15 years to transform economy – World Bank VP
The World Bank says that Nigeria must sustain its current economic reforms over the next 10 to 15 years to position itself as a leading global economic power, not only in sub-Saharan Africa but worldwide.
FG’s deficit spending rises 23% to N7.3 trn
By Elizabeth Adegbesan Deficit spending by the Federal Government (FG) rose by 23.7 per cent, YoY, to N7.3 trillion in 2021 from N5.9 trillion recorded in 2020. The Central Bank of Nigeria, CBN, disclosed this in its fourth quarter 2021 (Q4’21) Statistical Bulletin report. The 23 per cent rise in FG’s deficit spending was caused […]
STOCK MARKET: Investors’ dividend earnings up 47.1% to N1.1trn
lAs RoI outperforms GDP growth, inflation lReturns not reflecting on share price-Shareholders lDangote Cement takes lead with N340.8bn By Peter Egwuatu Stock market investors are set to enjoy a 47.1 per cent YoY increase in dividend earnings to N1.1 trillion for the financial year ended 2021, up from N732.9 billion the preceding year 2020. The […]
Anchor Insurance gets nod to sell passengers’ flight welfare scheme
By Rosemary Iwunze The National Insurance Commission (NAICOM) has approved Local Passengers’ Flight Welfare Scheme for Anchor Insurance Company Limited. This follows the firm’s determination to expand its retail market which aims to subsequently increase premium earnings and deepen penetration.Managing Director of the company, Mr. Ebose Augustine, said that the scheme will run henceforth with […]
Net foreign exchange inflow falls 27% to $52.46bn
•CBN’s FX sale in I&E rises 76.9% to $4.6bn By Elizabeth Adegbesan Net foreign exchange (forex) inflow into the economy fell by 27 per cent, Year-onYear, to $52.46 billion in 2021 from $70.66 billion in 2020. Vanguard analysis of the fourth quarter 2021 (Q4’21) statistical bulletin of the Central Bank of Nigeria, CBN, showed that […]
Inflation: Central Banks should raise interest rates — IMF
By Emma Ujah The International Monetary Fund (IMF), has called on Central banks across the globe to raise interest rates, in order to halt the escalating inflationary trends. IMF Director of Monetary and Capital Markets, Tobias Adrian, made this call at a press briefing on the latest Global Financial Stability Report, in Washington DC, United […]
