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The Central Bank of Nigeria, CBN, will transfer N5.5 trillion for development activities to the Ministry of Finance, Development Finance Institutions (DFIs) amid its restructuring plan.
According to a new report, this move aligns with the recommendations from the International Monetary Fund, IMF, on the need for the CBN to streamline its economic policies and focus on core central banking functions.
Under the new strategy, the CBN will gradually phase out its direct involvement in development financing, which historically included lending concessional terms to sectors like agriculture and small and medium-sized enterprises (SMEs).
Israeli protesters blocked aid trucks destined for Gaza on Monday, throwing food packages onto the road and ripping bags of grain open in the occupied West Bank. The lorries, which were set upon at the Tarqumiya checkpoint west of Hebron, came from Jordan and were headed to the Gaza Strip, where people are in desperate need of humanitarian aid. The White House has condemned the attack, describing the "looting" of […]
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