Tag Archives: Economy

WTO Acknowledges Okonjo-Iweala After Being Nominated By President Buhari

ICYMI: On Tuesday, the World Trade Organisation accepted Nigeria’s nominee, Dr. Ngozi Okonjo-Iweala for the post of its Director-General Recall that we shared the news that President Muhammadu Buhari had nominated former Finance Minister for the post of WTO’s Director-General. According to Channels T, current WTO Director-General, Mr. Roberto Azevêdo, has announced he will step down on August…

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ICYMI: Buhari Nominates Okonjo-Iweala As Candidate For WTO Director-General’s Position

According to TheCable, President Muhammadu Buhari has approved the nomination of Ngozi Okonjo Iweala, Nigeria’s former finance minister, for the position of director-general of the World Trade Organisation (WTO). The election is scheduled to hold in Geneva, Switzerland in 2021 for a four-year term that would run from 2021 to 2025 after Roberto Azevedo, former director-general of the…

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Germany Plunges Into Recession Due To Coronavirus Lockdown

Germany has being pushed into recession after official figures released on Friday May 15, that showed that the European country’s economy shrank by 2.2% in the first three months of this year, BBC reports. The figures released by the Federal Statistical Office of Germany, also showed revisions to 2019 fourth-quarter figures from zero growth to a contraction…

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COVID-19: IMF Grants Nigeria $3.4bn Emergency Support To Fight Pandemic

The Federal government has been granted $3.4 billion by the International Monetary Fund IMF after requesting to help address the severe economic impact of the COVID-19 pandemic and the sharp fall in oil prices. On Tuesday April 28, the Executive Board of the International Monetary Fund (IMF) approved the financial request, according to LIB. In a statement…

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Toke Makinwa Reacts To Lockdown Extension: “Credit Everyone’s Account Even If It’s N10k”

Toke Makinwa has joined other Nigerians to react towards the looming adverse economic effect of the COVID-19 lockdown extension in Lagos, Ogun, and Abuja.  The media personality suggested that the federal government credits the accounts of Citizens of the country with at least N10, 000 to cushion the effect of the forthcoming two weeks. Reacting…

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Canadian Prime Minister, Justin Trudeau Unveils $82B In Aid To Combat Coronavairus

The Prime Minister of Canada, Justin Trudeau has unveiled an $82-billion emergency aid for workers, employers, parents, students, Indigenous communities and other groups in order to assist them during the economic damage that coronavirus (COVID-19) might cause. Trudeau said the package consisted of $27 billion worth of “direct support” to workers and businesses and another $55 billion…

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Coronavirus Is Affecting The Country’s Revenue And Economy, Buhari Reveals

According to The Punch, President Muhammadu Buhari has raised an alarm of coronavirus affecting the revenue of the country while receiving workers in the health sector under the aegis of Joint Health Sector Unions and Assembly Healthcare Professionals Associations yesterday, March 10. Buhari who urged the health workers to moderate their demands on government as it could…

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MTN Fires Back After CBN Sanction, Claims Paid Dividends Were Approved

In a statement on Thursday, MTN denied the allegations of illegal funds repatriation leveled against it by the Central Bank of Nigerian(CBN), claiming that it illegally converted shareholder loans to preference share and repatriated $8.1 billion as dividend saying all dividends it paid to its shareholders between 2007 and 2015 were approved by the apex bank. Contrary to the…

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UPDATE! Zenith Bank Confirms EFCC Arrest Of GMD, Peter Amangbo

Zenith Bank confirms that it’s Group Managing Director, Peter Amangbo, is in the custody of the Economic and Financial Crimes Commission (EFCC). (See previous post here). The bank released a statement signed by its Head of Corporate Communication, Victor Adoji, on Tuesday claiming Amangbo was “invited”(although reports reaching us say he was indeed arrested) by the anti-graft agency in relation…

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