We are living in a world today that is full of uncertainties, but in order to survive, we must be willing to adapt to the changes taking place around us. Nigerians are trying to adjust and adapt to the prevailing…
Tinubu seeks Senate’s approval for $800m World Bank loan
President Bola Tinubu has sought the approval of the Senate to obtain a loan of $800 million from the World Bank to finance the National Safety Net Programme of the Federal Government. The president’s request was contained in a letter…
US puts forward Ajay Banga to lead World Bank
US President Joe Biden is nominating Indian-American businessman Ajay Banga to lead the World Bank, after its current head resigned early. The move comes as the US calls for reforms at the bank, including more action to address climate change.…
World Bank head criticised over climate stance to step down early
World Bank chief David Malpass has announced he will step down in June, nearly a year before the end of his term. Malpass, who was nominated to his five-year term by former United States President Donald Trump in 2019, said…
Facing calls to resign, World Bank president David Malpass changes answer on climate crisis
After earlier declining to say whether he accepts the scientific consensus on global warming, World Bank president David Malpass now says it is clear greenhouse emissions are causing climate change, defending his record as bank chief amid calls for his…
World Bank knocks Emefiele’s CBN policies
The World Bank has said that multiple exchange rates, trade restrictions, and the financing of the public deficit by the Godwin Emefiele-led Central Bank of Nigeria (CBN) continues to damage the business environment. The World Bank made the disclosure in…
FirstBank, driving dollar remittances, economic growth via IMTOS -Chinwendu Obienyi
For centuries, there have been heated debates over the sources of economic growth in developing economies and why some countries reflect strong economic growth compared to others. The hypotheses have often centred around crude oil, agriculture, revenues, private capital, bubbling stock…
Students risk losing $17trn in lifetime earnings to COVID-19 – Report
The World Bank-UNESCO-UNICEF report has laid out the magnitude of the education crisis, stating that present generation of students now risk losing $17 trillion in lifetime earnings in present value, or about 14 per cent of today’s global GDP as…
First woman, first African: Nigeria’s Okonjo-Iweala set to be named WTO boss
Nigeria’s Ngozi Okonjo-Iweala looks set to be confirmed Monday as the first woman and first African leader of the beleaguered World Trade Organization, a near-paralysed institution desperately needing a kick-start. The WTO has called a special general council meeting at…
World Bank approves $1.5bn loan for Nigeria
The World Bank has approved Nigeria’s request for a $1.5 billion loan. The bank said the facility was prepared jointly with the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA). “This country partnership framework will guide our…