The Central Bank of Nigeria (CBN) governor, Mr Godwin Emefiele has said that the Monetary Policy Committee will chart a new course for an improved monetary policy and Central Bank of Nigeria (CBN) that will provide direction for monetary policy in Nigeria. The governor said this at a Monetary Policy Committee (MPC) Strategic Retreat in Lakowe, Ibeju-Lekki in Lagos on Friday. The retreat has “Monetary Policy Implementation in a Digitally-Evolving Developing Economy’’, as its theme. Emefiele said that technology and innovation was playing a major role in output growth and economic development in Nigeria, hence the need to explore new…
Author: Newsdesk
The Board of Directors of the African Development Bank (AfDB) Group on Friday, approved a grant of $5.39 million to the Central African Republic. The grant will assist the production of an additional 32,000 tonnes of foodstuffs and enhance food security for 100,000 people. It will also help the Central African Republic to implement an emergency food programme to tackle the surge in food prices exacerbated by the war between Russia and Ukraine. The grant will help increase agricultural productivity and production in the Central African Republic, especially rice, maize and cassava. The project will have a positive impact on…
The African Development Bank Group has released a new report providing a snapshot of results of regional operations financed by its concessional lending window, the African Development Fund (ADF), over the last decade. Download document: https://bit.ly/3uIw68z The report, “Crossing Borders, Connecting Communities, Changing Lives,” reviews and documents the impacts of the regional operations envelope since ADF-13 (the 13th replenishment of the ADF). Contributing more than 80 active regional projects and programs, the ADF’s regional operations envelope provides vital support to Africa’s 37 low-income countries, 16 of which are landlocked. By supplementing these countries’ resources, the envelope makes it possible for…
The Board of Directors of the African Development Bank (ADB) Group has approved a €63 million loan to Kenya to significantly boost cereals and oil seeds production by over 1.5 million metric tonnes over the next two years. The production increase will help bolster national food security and economic resilience. The loan is part of the African Development Bank’s $1.5 billion African Emergency Food Production Facility, an Africa-wide initiative to avert a looming food crisis exacerbated by the war in Ukraine. The loan will support the country’s Ministry of Agriculture, Livestock, Fisheries and Cooperatives (MoALFC). It will enable the government…
The African Development Bank (ADB) Group and the Gabonese government held national consultations from 20-23 June, on the Country Diagnostic Note and the 2016-2022 Country Strategy Paper. Discussions were held between a delegation led by Bank Country Manager for Gabon, Nouridine Kane Dia, and a government delegation headed by the Minister of Economy and Recovery and Governor of the Bank for Gabon, Ms. Jeanine Lydie Roboty. Representatives of the main ministries and technical departments involved also participated. The African Development Bank Group’s Managing Director for Central Africa, Souleymane Koné, welcomed “this consultation process which should lead to the adoption of…
The Board of Directors of the African Development Bank (ADB) Group, has approved a $175 million Trade Finance Funded Risk Participation Agreement facility between the African Development Bank and Trade & Development Bank (TDB). The agreement is expected to boost intra-Africa trade, promote regional integration, and contribute to the reduction of the trade finance gap in Africa. The Bank will provide liquidity of up to 50% (the other 50% to be matched by TDB), to Issuing Banks on a risk share basis, to support trade activities of local corporates and SMEs in member countries of the Common Market for Eastern…
Manchester United FC have agreed terms with Barcelona FC for Frenkie de Jong, the PA news agency reports. An initial fee of 75 million Euros rising to a potential 85 million Euros is believed to have been agreed with Barca, but there remains some way to go in the deal. De Jong is understood to be owed a substantial amount in deferred wages by cash-strapped Barcelona. The Dutchman will need convincing to leave the LaLiga giants. But United would surely not have pursued the 25-year-old all summer if they did not believe he was willing to move to Old Trafford.…
The International Fund for Agricultural Development (IFAD) Value Chain Development Programme (VCDP) on Friday began the distribution of agricultural inputs to 120 Taraba wet season rice and cassava farmers. Taraba state governor, Darius Ishaku while flagging of the event in Jalingo, lauded VCDP for its various result oriented interventions in rice and cassava production, processing and marketing in the state. Represented by the Permanent Secretary, Taraba Ministry of Agriculture and Natural Resources, Mr Yusufu Gadi, Ishaku urged the beneficiaries to put the inputs to maximum use to turn around their fortunes and enhance food security. Earlier in his welcome address,…
Goge Africa, a tourism and cultural media brand, says it is exploring African countries with the aim to proffer solutions to problems of intra-Africa travels, trade and investment. Its Managing Director, Nneka Isaac-Moses, in a statement on Friday in Lagos, said that top management team of the organisation recently visited Tanzania and Burundi in East Africa. She said this was a working visit occasioned by their quest for intra-Africa travel, investment and tourism promotion. According to her, the barriers that impede inter-connectivity and lack of intra-continental trade and investment must be removed for Africa to progress. She said it was observed…
Nigeria made a bright start to its campaign at the 2022 African Track Cycling Championship in Abuja by bagging three medals on the opening day of competition on Thursday in Abuja. The Championship, which kicked-off on July 14 at the Moshood Abiola National Stadium, in Abuja, is expected to end on July 24. The opening day of the Championship witnessed 10 finals out of which nine events were for the championship and one for ranking event. Nigeria opened the championship with three medals from three different events out of nine events that held on day one. Each country displayed wonderful performance…