Top five tier-one Nigerian banks by market capitalization posted combined gross earnings of N4.2 trillion in their 2023 half-year (H1) operations, a figure that 6.7 per cent less than 2022 full-year earnings. The five banks, which are FBN Holdings, United…
The World Bank has approved a fresh $700m loan for Nigeria to enhance adolescent girls’ learning and empowerment. It disclosed this in a statement published on its website on Friday. The new loan is to provide additional funds for an…
The World Bank Country Director for Nigeria, Shubham Chaudhuri, has announced plans to collaborate with the National Identity Management Commission to ensure the successful rollout and registration of digital national IDs for all Nigerians. The ambitious target is to provide…
THIS DAY The President of the World Bank Group, Mr. David Malpass has once more reiterated the need for Nigeria’s federal government to reconsider its policy on fuel subsidy, saying that the huge amount being expended on the policy could…
PUNCH NEWS The World Bank has disclosed that Nigeria’s debt, which may be considered sustainable for now, is vulnerable and costly. According to the Washington-based global financial institution, the country’s debt is also at risk of becoming unsustainable in the…
PUNCH NEWS The World Bank has said Nigeria may have one of the highest inflation rates globally in 2022, with increasing prices diminishing the welfare of Nigerian households. According to the World Bank, Nigeria is projected to have one of…
PUNCH NEWS The World Bank says the Nigerian government’s exchange rate management policies are discouraging investments and fuelling inflation in the country The bank disclosed this in the November edition of its Nigeria Development Update. While highlighting the role of…
PUNCH NEWS The World Bank has blacklisted 18 Nigerian individuals and firms for engaging in corrupt practices, fraud and collusive practices in its 2021 fiscal year 2021, a new report has revealed. A list of debarred individuals and firms was…
PM NEWS The World Bank said dollar remittance inflows to Nigeria declined by 28 per cent in 2020 because of COVID-19 pandemic. The Bank also said remittance flows fell for Sub-Saharan Africa by 12.5 per cent, according to its Migration…
RIPPLES NIGERIA The World Bank forecasts that the next three years will prove gloomy for Nigeria as growth in the real Gross Domestic Product (GDP) will stall at 2.1% for 2020, 2021 and 2022. The Washington-headquartered institution, in its January…