Business
IMF considers approval of Nigeria’s $3.4bn emergency loan request Tuesday
The International Monetary Fund (IMF) will be sitting on Tuesday to consider recommendation for approval Nigeria’s $3.4 billion loan request for emergency funding as part of the measures to mitigate the hardship caused by coronavirus pandemic in the country and the devastation of the national economy.
The loan, which is scheduled to be repaid in not more than five years, is considered the largest allocation by the IMF to an African country to assist with the coronavirus pandemic.
Minister of Finance, Zainab Ahmed, earlier in the month classified the loan as part of funds being expected from multilateral organisations to aid the country’s battle against the pandemic.
As of 10 pm on Saturday, Nigeria had 1,095 confirmed coronavirus cases out of which there have been 208 recoveries and 32 deaths. Coronavirus infection was first detected in Nigeria in February 27 and has since then been on the rise unabated.
Globally, there have been more than two million confirmed cases and over 200,000 deaths.
-
Business7 days agoCBN targets $12bn annual Diaspora inflows to boost FX liquidity
-
Business7 days agoSEC launches nationwide campaign to help investors recover unclaimed dividends
-
Business5 days agoNigerian AI researcher champions ethical artificial intelligence at COPA AI 2026 summit in Wales
-
Football5 days agoMessi calls Lamine Yamal World Cup final clash ‘Crazy’ after viral baby photo resurfaces
-
Business1 week agoCBN launches real-time FX tracker for BDCs, tightens oversight of FX market
-
Business6 days agoFood prices now biggest threat to inflation, beyond CBN’s reach – Analysts
-
Business1 week agoZenith Bank leads brokers’ buy ratings as analysts turn bullish on banking stocks
-
Football1 week agoNigerians blast Super Eagles over France World Cup defeat post