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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 approves $3.4 billion RFI to support Nigeria’s coronavirus fight

The International Monetary Fund has approved the sum of $3.4 billion to support Nigeria’s COVID-19 fight.
Leader of the Indigenous People of Biafra (IPOB), Mazi Nnamdi Kanu, has threatened to expose corrupt leaders in the north.

IPOB leader kicks against alleged fresh loans request from IMF, World Bank, AfDB

The leader of the Indigenous People of Biafra, IPOB, Mazi Nnamdi Kanu, yesterday, kicked against further lending by foreign lenders to the Nigerian government, saying it breaches the organic law of Nigeria.
Dondo Mogajane, director general of the National Treasury, said in an interview with eNCA television on Sunday that South Africa “will certainly go” for the IMF funding.

Official: South Africa seeking $5 billion from multilateral lenders to fight virus

South Africa is seeking 95 billion rand ($4.99 billion) from multilateral lenders to help it fight the COVID-19 pandemic, a senior Treasury official said on Sunday.
President of the Nigeria Labour Congress (NLC), Mr Ayuba Wabba

Why Nigeria deserves debt relief – NLC chief

President of the Nigeria Labour Congress (NLC), Comrade Ayuba Wabba, has joined the clamour for debt relief for Nigeria from multilateral institutions, noting that this becomes inevitable under the current circumstances imposed on global economies, specifically, the novel 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.

Nigeria’s central bank levies $3.9 billion on banks to soak up liquidity, support Naira

Nigeria’s central bank has collected 1.4 trillion naira ($3.9 billion) from banks with excess cash holdings as part of measures to support the currency, banking sources told Reuters.
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.

Former Nigerian minister gets WHO’s appointment on coronavirus

Nigeria’s former finance minister, Dr Ngozi Okonjo-Iweala was named by the World Health Organisation (WHO) as its Special Envoy for the newly inaugurated Access to COVID-19 Tools (ACT) Accelerator.
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 to meet April 28 on Nigeria’s request for $3.4 billion emergency fund

Nigeria, which is reeling from the twin hits of the oil price collapse and the new coronavirus pandemic, requested the emergency funding under the Fund’s Rapid Financing Instrument.
Vice President Yemi Osinbajo on Wednesday presided over the weekly Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja.

VP Osinbajo presides over economic sustainability committee meeting

Vice President Yemi Osinbajo on Thursday at the Presidential Villa, Abuja, presided over the meeting of the Economic Sustainability Committee (ESC) set up to address the economic fallout of the COVID-19 pandemic.
A general view shows an empty street during a lockdown due to the spread of the coronavirus disease (COVID-19), next to a residential building in Gombe district of Kinshasa, Democratic Republic of Congo, April 19, 2020. REUTERS/Kenny Katombe/File Photo

IMF: Congo’s economy to shrink 2.2% because of coronavirus

The coronavirus pandemic will cause Democratic Republic of Congo’s economy to contract 2.2% this year, the International Monetary Fund said on Thursday, as its executive board approved $363 million in financing for the country.
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

DR Congo gets $363 million in coronavirus aid from IMF

The International Monetary Fund (IMF) on Wednesday announced emergency aid of $363 million to fight the new coronavirus in the Democratic Republic of Congo, an African nation that had also been battling Ebola and militia attacks.

IMF: African countries need $114 billion to fight coronavirus

Nigeria and other African countries need an estimated $114 billion this year in their fight against COVID-19, the International Monetary Fund (IMF) has said.

IMF asks central bank governors to keep receipts of coronavirus spending

The International Monetary Fund has asked Governors of Central Banks under its watch to keep receipts of all spending pertaining to COVID-19 bailouts and support funds from other stakeholders.
A street money changer counts South African Rands in Harare, Zimbabwe, file. REUTERS-Philimon Bulawayo

South Africa’s rand falls as deep recession fears weigh

South Africa’s rand fell early on Thursday, as concerns of a deep economic downturn due to the COVID-19 pandemic rattled already shaky risk appetite.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed on Saturday met with the leadership of the National Assembly to intimate it with an Executive proposal to establish a N500 billion COVID-19 Crisis Intervention Fund.

Nigeria won’t benefit from IMF debt relief – minister

The Federal Government has clarified that Nigeria will not benefit from the recent International Monetary Fund (IMF) debt relief for 25 countries.
The International Monetary Fund is looking to triple its concessional financing for the poorest countries to over $18 billion to help them respond to the novel coronavirus pandemic, Managing Director Kristalina Georgieva said on Wednesday.

IMF chief wants to triple concessional financing for poor countries

The International Monetary Fund is looking to triple its concessional financing for the poorest countries to over $18 billion to help them respond to the novel coronavirus pandemic, Managing Director Kristalina Georgieva said on Wednesday.

Moody’s maintains negative outlook for Nigeria

America’s credit rating agency Moody’s in a statement on Wednesday affirmed Nigeria’s B2 ratings.

Benue extends lockdown by two weeks

Benue State Governor, Samuel Ortom, has announced the extension of the partial lockdown of the state for another two weeks to prevent the spread of the novel coronavirus pandemic in the state.

IMF: Africa may rebound in 2021, but coronavirus impact to endure

Africa is expected to reverse an economic contraction linked to fallout from the COVID-19 pandemic next year, according to the International Monetary Fund, but the impact will be felt for years to come.

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Zimbabwe's influential Catholic bishops on Friday deplored an unprecedented government crackdown on dissent against a backdrop of economic ruin and allegations of rampant rights abuses.

Zimbabwe bishops denounce ‘unprecedented’ state crackdown

Zimbabwe's influential Catholic bishops on Friday deplored an "unprecedented" government crackdown on dissent against a backdrop of economic ruin and allegations of rampant rights abuses.
The Ambassador of the Republic of Lebanon to Nigeria, Houssam Diab, has disclosed that majority of Nigerian girls in Lebanon were not trafficked into the country.

Majority of Nigerian ladies in Lebanon not smuggled – envoy

The Ambassador of the Republic of Lebanon to Nigeria, Houssam Diab, has disclosed that majority of Nigerian girls in Lebanon were not trafficked into the country.
The Judicial Commission of Inquiry set up by Governor Godwin Obaseki to investigate the construction of the Edo Specialist Hospital and supply of equipment has indicted former governor, Adams Oshiomhole.

Governor Obaseki approves all outstanding promotions in public service

The Edo State Governor, Mr. Godwin Obaseki, has approved all outstanding promotions in the state public service.

Court remands two men over ‘serial robberies with knife, rape’

A Yaba Chief Magistrates’ Court, Lagos, on Friday remanded two men in a Custodial Centre in Lagos, over alleged serial robberies, rape of one of their victims and receipt of stolen goods.

Fire outbreak in LASTMA yard guts 11 impounded vehicles

There is a fire outbreak in the yard of Lagos State Transport Management Agency located at Osodi, Lagos.