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World Bank News - Page 6

World Bank Stops Loan Disbursement To Uganda Over Anti-Homosexuality Law

World Bank Suggests Suspension Of Debt Service Payment For Nigeria, Others

The President of the World Bank, David Malpass, has proffered solutions to the piling debt of Nigeria and other developing countries. Malpass said the World Bank is proposing the suspension of debt-service payments by developing nations at some point, to enable the

April 12, 2023

Business

FG To Share $800 million Among 50 million Nigerians After Removal Of Fuel Subsidy

The World Bank has handed Nigeria $800 million to disburse to vulnerable households after the removal of subsidy on the premium motor spirit (PMS). Nigerian government already slated June as the last month for fuel subsidy payment after postponing the removal in

April 6, 2023

Nigerian Gov’t Spends N96 Out Of Every N100 To Pay Debt - World Bank Says, Reveals Impact

Business

World Bank President, David Malpass, To Resign After Four Years

The World Bank President, David Malpass, will exit his role in the global financial institution on June 30, ending a four years reign. In a statement dated Wednesday, 15 February 2023, the World Bank said Malpass told the board of executive directors

February 16, 2023

Business

UPDATED: IMF, World Bank Warn CBN On Naira Transition Timeframe

The International Monetary Fund (IMF) and the World Bank have cautioned the Central Bank of Nigeria (CBN) over its handling of the transition from the old Naira to new banknotes. Nigeria’s financial regulator announced in October 2022 that the N200, N500 and

February 9, 2023

Naira Opens Week With Gain Across FX Markets

Business·Currency

BDC Operators Offer To Buy Dollar At N730 To Entice Official Market Traders

The exchange rate between the dollar and naira continues to sell above N700 in the black market, as demands for foreign exchange switched to the parallel market due to the Christmas holiday in the official market. Amid the yuletide period, the black

December 28, 2022

Naira Gains More As Exchange Rate Drops To N1,300/$1 At Official Market

Business·Currency

Dollar Goes For N740 In Black Market, Maintains N200 Above Official Forex Rate

As Nigerians celebrate the yuletide period, the dollar rate remains at a premium in the black market, as the naira exchanged at N740/$1 on Tuesday. The exchange rate between the naira and the dollar in the parallel market maintains more than N200

December 27, 2022

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business

CBN’s $200 Billion FX Repatriation Programme Worsening Nigeria’s Problem – World Bank

The World Bank said the ‘Race to US$200 Billion In FX Repatriation (RT200 FX)’ Programme of the Central Bank of Nigeria (CBN) has worsened Nigeria’s foreign exchange (forex/FX) problem. Recall that the central bank created the RT200 FX Programme to raise $200

December 27, 2022

Nigeria’s Minimum Wage Now N19,355 – World Bank Says, Reveals Factors Hindering Growth

Business·News

INFLATION: Nigeria’s N30k Minimum Wage Now Worth N19,355 – World Bank

Nigeria’s poverty population has risen by 5 million in 2022, the World Bank’s Chief economist, Alex Sienaert, has revealed, blaming rise in inflation rate which has reduced the value of minimum wage in the country. Prime Business Africa had reported that Nigeria’s

December 16, 2022

Naira Vs Dollar: What To Expect This Week (2nd - 6th June 2025)

Business·Currency·Insights

CBN Sells $9.4 billion Forex In 6 Months To Control Dollar Rate

In the first half of 2022, the Central Bank of Nigeria (CBN) sold $9.4 billion to the foreign exchange market to control dollar rate, despite international creditors advising against such intervention. Why CBN’s forex intervention matters? The CBN’s $9.4 billion intervention in

December 2, 2022

Governor of Nigerias Central Bank Godwin Emefiele

Business

CBN’s Emefiele Defends Rising Debt Under Buhari, As World Bank Ranks Nigeria Fourth Chronic Debtor

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has defended the rising debt under President Muhammadu Buhari, stating that borrowing is an essential part of running a government. Emefiele said it is not a crime to borrow, as debt

August 12, 2022

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World Bank News - Page 6

World Bank Suggests Suspension Of Debt Service Payment For Nigeria, Others

FG To Share $800 million Among 50 million Nigerians After Removal Of Fuel Subsidy

World Bank President, David Malpass, To Resign After Four Years

UPDATED: IMF, World Bank Warn CBN On Naira Transition Timeframe

BDC Operators Offer To Buy Dollar At N730 To Entice Official Market Traders

Dollar Goes For N740 In Black Market, Maintains N200 Above Official Forex Rate

CBN’s $200 Billion FX Repatriation Programme Worsening Nigeria’s Problem – World Bank

INFLATION: Nigeria’s N30k Minimum Wage Now Worth N19,355 – World Bank

CBN Sells $9.4 billion Forex In 6 Months To Control Dollar Rate

CBN’s Emefiele Defends Rising Debt Under Buhari, As World Bank Ranks Nigeria Fourth Chronic Debtor

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