Switzerland says it has returned all the money kept in the country by Sani Abacha, late Nigerian head of state. Pio Wennubst, assistant director-general and head, Global Cooperation Department, Swiss Agency for Development and Cooperation, told NAN that the money was returned with $1.5 million interest. Wennubst said Switzerland returned about $322.5 million dollars (N116.11 […]
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Chairman, Heirs Holdings and Founder, The Tony Elumelu Foundation, Tony O. Elumelu will join Jim Yong Kim, President, World Bank Group and Jeff Weiner, LinkedIn CEO at the opening debate of the ‘Digital Economy for Africa’ Forum in Washington, D.C organised by the World Bank Group. The event, which will hold on April 19, 2018, […]
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A World Bank report released this week claims 80 percent of Nigerian adults who completed primary education cannot read. The World Development Report 2018: ‘Learning to Realize Education’s Promise’ was co-launched in Abuja by the World Bank Group, the Federal Ministry of Finance and the Federal Ministry of Education on Tuesday. “Among young adults in […]
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World Bank has approved a 486 million dollars credit facility to Nigeria for electricity grid improvements, the lender said on Friday. “The investments under the Nigeria Electricity Transmission Project will increase the power transfer capacity of the transmission network and enable distribution companies to supply consumers with additional power,” the World Bank said. Nigeria’s power […]
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The World Bank warned and compared cryptocurrencies to “Ponzi schemes”. The warning is the the latest financial voice to raise questions about the legitimacy of digital currencies such as Bitcoin. “In terms of using Bitcoin or some of the cryptocurrencies, we are also looking at it, but I’m told the vast majority of cryptocurrencies are […]
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The World Bank forecasts that economic growth in Nigeria would edge up to at least 2.5 per cent in 2018, as the country benefits from improved commodity prices, investments and trade. The Bank om its January 2018 Global Economic Prospect report launched on Tuesday in Washington DC noted that Nigeria’s Gross Domestic Product (GDP) is […]
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World Bank Group says it has an investment portfolio of about $8.5 billion scattered across states and regions in Nigeria. Olufunke Olufon, senior communications officer, World Bank Nigeria, said this in a statement issued in Abuja on Sunday. She said the investments were to assist the 36 states of the federation and the federal capital […]
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Documents on the World Bank Group’s website have shown that Northern Nigeria enjoys majority of the contracts sponsored by the bank in the country. The findings come after President of the World Bank, Jim Yong Kim, revealed that President Muhammadu Buhari had instructed them to concentrate on the North. The Punch reports that the World Bank […]
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The presidency says north-east has always been the priority of President Muhammadu Buhari. The statement follows reactions to the comment of Jim Yong Kim, president of the World Bank, that Buhari requested the organisation to focus development on the north. Many, especially on social media, had accused the president of promoting the interest of the […]
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Jim Yong Kim, President of the World Bank Group has accused president Muhammadu Buhari of asking his organisation to prioritise its developmental programmes across the northern parts of Nigeria. Jim Yong Kim made his assertion at a press briefing on the sidelines of the ongoing World Bank-IMF annual meetings in Washington, D.C., stating that they […]
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