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World Bank says Nigeria Lost $144b in 4 years over CBN Exchange Rate Policies

The Central Bank of Nigeria’s (CBN) approach to managing exchange rates has drawn criticism from the World Bank once again and caused disagreement among economists and public policy professionals. According…

What Nigeria Must do to Increase Capital Inflow, IMF Explains

To increase foreign capital flows into the economy, the International Monetary Fund (IMF) has requested that the Central Bank of Nigeria (CBN) permit commercial banks to choose dollar buy-sale rates.…

IMF Recommends Raising VAT from 7.5% to 15%

The Article IV Staff mission of the International Monetary Fund (IMF) concluded with a recommendation that the federal government increase the Value Added Tax (VAT) from its existing rate of…

CBN Celebrates as eNaira Clocks 1

On Monday, October 25, 2021, in the State House in Aso Villa, President Muhammadu Buhari formally introduced the digital currency.

Budget Office says Nigeria may Seek Bailout from IMF

Nwabueze said it was time for the nation to start considering the increase in taxes as a means of raising revenue while considering a cut-down on its expenditure.

IMF Raises Food Security Concerns, says Fiscal Deficit will Hit 6.1% of Nigeria’s GDP

Fiscal deficit is a condition when the expenditure of the government exceeds its revenue in a year.

Nigeria’s Subsidy Payment may Hit N6 Trillion Before Year-End, IMF Warns

The IMF says it is a reflection of the low revenue of the country, adding that it needs to mobilise more revenue to be able to have macroeconomic stability.