18

May

Six Lecture Halls Have Been Donated By CIBN To The Banking And Finance Faculties

The Chartered Institute of Bankers of Nigeria (CIBN) has given its approval to the construction of mini lecture halls in six Nigerian tertiary institutions’ banking and finance departments. This was revealed at the company’s 2021 annual general meeting, which took place over the weekend in Lagos. Dr. Bayo Olugbemi, President/Chairman of the Council of the CIBN, stated at the hybrid meeting that the planned 200-seat halls would be completely furnished with air conditioners and modern multi-media connectivity gadgets and donated as legacy projects of the institute. He said the Council had also approved the implementation of an internship scheme to […]

14

May

In 2020, Remittance Inflows To Nigeria Was Down By 28%, According To The World Bank

According to the World Bank, the COVID-19 pandemic reduced remittance inflows to Nigeria by 28% in 2020. According to the bank’s Migration and Development Brief 33 Phase 11 titled “COVID-19 Crisis Through a Migration Lens” published on Thursday, remittance flows to Sub-Saharan Africa dropped by 12.5%. According to the survey, the drop in remittance flows to Sub-Saharan Africa is largely due to a decrease in remittance flows to Nigeria. “The drop in remittance flows to Sub-Saharan Africa was almost entirely due to a 28% drop in remittance flows to Nigeria,” says the study. “With the exception of Nigeria, remittances to[…]

11

May

Nigeria Needs Immediate Economic Diversification – African Development Bank

Nigeria, Africa’s largest economy, requires urgent economic diversification to step away from a single source of income (oil and minerals) and toward multiple sources of income, according to the African Development Bank. Prof. Oyelaran-Oyeyinka Oyebanji, Senior Special Adviser on Industrialisation at the African Development Bank (AfDB), said this on Monday at the 22nd Founder’s Day Lecture of the Igbinedion University, Edo’s first private university. What the African Development Bank said about diversification “In order to achieve long-term recovery and development, Nigeria requires immediate economic diversification. Nothing illustrates the dangers of over-reliance on a single or limited range of resources more[…]