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BUSINESS NEWS
Business and Economic News from Nigeria
The re-election took place electronically during AfDBs’ 2020 Annual Meeting.
Mnuchin said the AfDB potential to improve the lives of Africans is now more relevant than ever before.
Onyeagwu stated that the impact of the COVID-19 pandemic exposed Nigeria’s over-dependency on crude oil earnings.
Scarcity of dollar, depressed oil prices and limited fiscal support to contract economy further.
Despite a 6.1% contraction, there are still sectors of the Nigerian economy with the fastest GDP growth rate.
Adesina hopes to unite members to support a programme that would stabilize African economies.
The CBN has directed banks to submit details of all the exporters who have failed to repatriate their export proceeds.
Forex turnover at the I&E window increased substantially by 442% on Tuesday.
Only two sub-sectors in the manufacturing space reported real growths.
The IMF tweeted the video giving vital details on what cryptocurrency is.
GDP contraction to continue in second half of 2020 (2H20); FX shortages will continue to weigh on economic activity.
The media and aviation sectors are among the hardest hit by the pandemic, hence CBN's call.