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The logo of the International Monetary Fund (IMF), is seen during a news conference in Santiago, Chile, July 23, 2019. REUTERS-Rodrigo Garrido

IMF approves $171.9 million to Madagascar to address coronavirus pandemic

The International Monetary Fund (IMF) approved $171.9 million of funding to Madagascar, it said on Thursday, bringing the total COVID-19 emergency support to the country to $337.9 million.

IMF approves $7.6 million debt relief to Burundi

The International Monetary Fund said it had approved $7.6 million debt relief to Burundi to help address the economic impact of the COVID-19 pandemic.

Lebanon central bank sets up committee to restructure banks

Lebanon’s Central Bank has set up a committee to restructure financially-stricken commercial banks and study their performance, a memo by the bank seen by Reuters on Thursday showed.
Dr Ngozi Okonjo-Iweala, a former Minister of Finance and Chairman, Global Alliance for Vaccines and Immunisation (GAVI), has urged the Federal Government to improve on immunisation coverage.

Ngozi Okonjo-Iweala: WTO under me ‘ll bring shared prosperity

Nigeria’s former Minister of Finance and frontrunner for the post of Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has declared her plan to lead a global trade organisation that would bring about shared prosperity to all members.
A man is silhouetted against the logo of the World Bank at the main venue for the International Monetary Fund (IMF) and World Bank annual meeting in Tokyo. REUTERS-Kim Kyung-Hoon

IMF, World Bank to hold fall meetings virtually due to coronavirus

The IMF and World Bank Group announced Thursday that their annual fall meetings will be mostly virtual due to the coronavirus pandemic.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

MAN welcomes CBN’s unification of exchange rates

The Manufacturers Association of Nigeria (MAN) says the unification of the country’s exchange rate is a welcome development that will engender increased investment inflow in the real sector of the economy.
The Director General of the Securities and Exchange Commission, SEC, Lamido Yuguda, has stated that the capital market has a lot of potentials for growth and development of Nigeria post COVID-19 and beyond.

New SEC chief Lamido Yuguda assumes office

The Director General of the Securities and Exchange Commission, SEC, Lamido Yuguda, has stated that the capital market has a lot of potentials for growth and development of Nigeria post COVID-19 and beyond.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

NECA: Central bank’s adjustment of Naira rate’ll cause inflation

The Nigeria Employers’ Consultative Association (NECA) has said the Central Bank of Nigeria’s adjustment of naira exchange rate from N360/dollar to N380/dollar at the Secondary Market Intervention Sales (SMIS) will result in inflation.
The logo of the International Monetary Fund (IMF) is seen during a news conference in Santiago, Chile, July 23, 2019. REUTERS-Rodrigo Garrido-File Photo

IMF: Coronavirus could cause set back on decade of progress in Africa

The coronavirus pandemic could set back incomes in sub-Saharan Africa by a decade as weak oil prices, a tourism standstill and business lockdowns shrink the region’s economy 3.2 percent in 2020, an IMF official said Monday.

IMF calls for cautious reopening of Africa

As African countries commence the re-opening of their economies, the International Monetary Fund (IMF) has counselled them to do so cautiously because the pandemic is still in its exponential phase.
Gita Gopinath, the International Monetary Fund’s Chief Economist, is seen outside the IMF headquarters June 24, 2020, in Washington, DC. – The global coronavirus pandemic has sparked an economic “crisis like no other,” sending world GDP plunging 4.9 percent this year and wiping out $12 trillion over two years, the IMF said June 24, 2020. IMF chief economist Gita Gopinath said under current forecasts, the crisis will destroy $12 trillion over two years, and cautioned, “we are not out of the woods.” She warned governments against withdrawing the stimulus too quickly. (Photo by Brendan Smialowski / AFP)

IMF approves emergency funding for pandemic-hit Myanmar

“The Myanmar economy is being impacted by the outbreak of COVID-19 through a sharp decline in tourism and remittances and supply chain disruptions,” Mitsuhiro Furusawa, IMF deputy managing director, said in a statement.

Using coronavirus donations to give charity a bad name

Global response to the outbreak of the Coronavirus in Africa has been remarkable, especially following fears that should the virus take hold, its impact on the continent could be catastrophic.
Sudan's Finance Minister Ibrahim Elbadawi speaks during an interview with Reuters in Khartoum, Sudan November 7, 2019. REUTERS-Mohamed Nureldin Abdallah

Sudan to introduce direct cash payments to its neediest citizens

Sudan will begin rolling out an experimental programme of direct cash transfers to its neediest citizens next week as it tries to wean the country off costly subsidies.
Tourists look at birds at the Queen Elizabeth National Park, western Uganda, file. REUTERS-Hereward Holland

Ugandan to lose $1.6 billion in tourism earnings as a result of coronavirus

Uganda will lose $1.6 billion a year in earnings from tourism as visitors stay away due to the impact of the coronavirus, President Yoweri Museveni said.
Israel Pasipanodya Mushore, 60, poses for a portrait besides his show piece herd of 70 cattle , in Nyabira, near Harare, on March 13, 2020. – He was allocated the farmhouse and a plot on Rasper farm in Nyabira during Zimbabwe’s land reform programme. (Photo by Jekesai NJIKIZANA / AFP)

Two decades on, Zimbabwe takes stock of Robert Mugabe land reform legacy

Eighty-year-old Isobel Simons calmly narrated how she and her late husband lost their 728-hectare Zimbabwe farm two decades ago to Robert Mugabe’s controversial land reforms.
President Muhammadu Buhari shortly after his nationwide broadcast, signed Proclamation Order on the General Management of Covid-19 in Lagos, Ogun, Kano, the Federal Capital Territory and other States in Nigeria.

President Buhari urges speedy passage of revised 2020-2022 MTEF/FSP, budget

The Presidency on Thursday urged the House of Representatives to speedily pass the 2020-2022 Medium Term Expenditure Framework (MTEF), and Fiscal Strategy Paper (FSP) and the revised Appropriation Bill, 2020 for the fiscal year.
Femi Adesina, spokesman of President Muhammadu Buhari

Presidency: Nothing wrong with taking more loans

There is nothing wrong in taking more loans to finance specific projects, the Presidency said on Sunday.
Motorists drive in traffic along a highway as pedestrians walk on the walkways before a curfew, which is a measure to contain the spread of the coronavirus disease (COVID-19), in Nairobi, Kenya May 13, 2020. REUTERS-Thomas Mukoya

Private creditors push back against blanket debt relief for Africa

Prominent emerging market creditors have set up a new group to help heavily-indebted African nations coordinate responses to the economic impact of COVID-19, but have also criticised recent calls for blanket debt relief.

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Senate Minority Leader, Hon. Ndudi Elumelu from Delta State. on Monday in a motion canvassed for adherence and respect to the concept of separation of powers as enshrined in the laws of Nigeria.

Rep Elumelu: Opposition lawmakers leading anti-corruption investigations

The Minority Leader of the House of Representatives, Rep. Ndudi Elumelu (PDP-Delta), says opposition lawmakers in the house have been at the center of unearthing and exposing acts of corruption in the country.
Gov. Bello Matawalle of Zamfara has lifted the ban on congregational prayers in Mosques and Churches placed to curtail the spread of the coronavirus in the state.

Zamfara schools to resume August 9

The Zamfara State Government has directed secondary schools in the state to reopen from August 9, to enable exiting students sit for Secondary School Certificate Examination (SSCE).
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE: Trading sustains positive trend, up by 0.31 per cent

Activities on the Nigerian Stock Exchange (NSE) extended a positive trend on Tuesday with key market indices appreciating further by 0.31 per cent.

NUC: 32 universities involved in research to tackle impacts of coronavirus

The Executive Secretary, National Universities Commission (NUC), Prof. Abubakar Rasheed, says 32 federal, state and private universities across all geopolitical zones are involved in different stages of research toward tackling direct and collateral impacts of COVID-19.

WAEC releases 2020 WASSCE timetable

The West African Examinations Council (WAEC) has released the timetable for the 2020 West African Senior School Certificate Examination.