Nigeria Facing Worsening Economic Disaster – IMF Report

LAGOS FEBRUARY 13TH (NEWSRANGERS)-The International Monetary Fund said Nigeria is facing a worsening economic crisis. The global lender stated this in a new report titled, “IMF Executive Board Concludes Post Financing Assessment with Nigeria.” According to the IMF, stalled per-capita growth, poverty, and high food insecurity have exacerbated the ongoing cost-of-living crisis in Nigeria. The…

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How Emefiele Approved Payment of $6,230,000 Cash For International Election Observers – Witness

LAGOS FEBRUARY 12TH (NEWSRANGERS)-The First Prosecution Witness, PW1, in the ongoing trial of former governor of Central Bank of Nigeria, CBN, Godwin Emefiele, Ogau Onyeka Michael, on Monday, February 12, 2024, told Justice Hamza Muazu of the Federal Capital Territory, FCT, High Court, Maitama, Abuja, how the ex-CBN boss approved the payment of $6,230,000 (Six…

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US To Work With NIMASA To  Lift Entry Ban On Vessels From Nigerian Ports

LAGOS FEBRUARY 12TH (NEWSRANGERS)-The United States Coast Guard (USCG) has offered Nigeria a three-year plan to work with the Nigerian Maritime Administration and Safety Agency (NIMASA) for the removal of the Condition of Entry (CoE) placed on American-bound vessels from Nigeria. Cdr. Juliet Hudson at the USCG headquarters in Washington DC disclosed this during a…

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Abandoned Vehicles Litter Nigeria Seaports Over High Tariffs

Lagos February 12th (newsrangers)-Due to the instability and volatility of foreign exchange in the country, several foreign-used vehicles imported into the country have been abandoned at vehicle terminals in Tin-Can Island Ports Complex, Apapa, LEADERSHIP can report. Aside from abandonment, vehicle Importation has gone down drastically due to the same forex instability and volatility. It…

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Economic Hardship: IMF Advises Nigeria Govt To Completely Phase Out Electricity Subsidy

LAGOS FEBRUARY 12TH (NEWSRANGERS)-The International Monetary Fund (IMF) has urged the Federal Government to completely phase out electricity subsidy in the country as a result of the hardship Nigerians are facing since the removal of fuel subsidy in May 2023. The Bretton Woods Institution made this recommendation as the mechanism for Nigeria to restore macroeconomic…

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