Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,162,522 members, 7,850,785 topics. Date: Wednesday, 05 June 2024 at 09:05 AM |
Nairaland Forum / Nairaland / General / Politics / IMF Credits Cbn's Account With $3.4bn Emergency Loan (29278 Views)
EndSARS: Youth Reps Pull Out Of Lagos Judicial Panel After Cbn’s Account Freeze / Nigeria To Repay IMF $3.4bn In 5 Years / Breaking News :IMF Approves $3.4bn RFI To Support Nigeria’s COVID-19 Fight (2) (3) (4)
(1) (2) (3) (4) (5) (6) (7) (8) (Reply) (Go Down)
IMF Credits Cbn's Account With $3.4bn Emergency Loan by dipoolowoo: 3:48pm On May 06, 2020 |
By Adedapo Adesanya Nigeria has received the $3.4 billion emergency loan from the International Monetary Fund (IMF). IMF Managing Director, Ms Kristalina Georgieva, confirmed to CNBC Africa in an interview that the $3.4 billion loan had been credited to the account of the Central Bank of Nigeria (CBN). The funds had been approved under the Rapid Financing Instrument by the Executive Board of the IMF on April 28, to address challenges arising from the economic impact of the COVID -19 pandemic the country. Ms Georgieva also called on the Federal Government of Nigeria to be transparent and account for every single kobo of the fund. The federal government had assured that it will publicise all disbursements from the funds, adding that there are plans to conduct an independent audit of all emergency expenditure at the end of the pandemic. The Nigerian government also agreed to allow the IMF to conduct a due diligence exercise on the CBN, these will be done in line with the Fund’s safeguards assessment program. According to the IMF chief, the money was sent to the CBN’s account in dollars, after which it would be converted to naira. “We have already disbursed. In emergency assistance, the board approves, we disburse within days to the country and it goes to their central bank in dollars before it gets converted into naira in the case of Nigeria. “The conditions are quite favourable and repayment period is five years, up to two and half years is grace period and the interest on the loan is one percent,” she said. Ms Georgieva assured that the IMF will continue to support Nigeria and other member countries. “We have put in place policy tracking action, and we are seeing progress each country is making. “The IMF will continue to support countries and shield them from catastrophic implications of the COVID-19 crisis,” she added. https://businesspost.ng/economy/imf-credits-cbns-account-with-3-4bn-emergency-loan/ 9 Likes 2 Shares
|
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Racoon(m): 3:52pm On May 06, 2020 |
‘It’s a loan’ — Zainab Ahmed clarifies IMF’s $3.4bn facilityhttps://www.google.com/amp/s/www.thecable.ng/its-a-loan-zainab-ahmed-clarifies-imfs-3-4bn-facility/amp The loan they lied is a grant upon which they told IMF Nigerians will pay higher electricity tariffs have finally arrived.Generations to come in Nigeria will pay this loan & its accruing interest. 107 Likes 6 Shares |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Ezennwa(m): 3:52pm On May 06, 2020 |
hmm! God save Nigeria 123 Likes 10 Shares |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Golan007: 3:54pm On May 06, 2020 |
Racoon: Name the government official that claimed it to be a grant. By the way, all countries are borrowing and all countries have had their future generations pay debt. The whinging is worn out. 46 Likes 5 Shares |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Nobody: 3:55pm On May 06, 2020 |
Cash out. 18 Likes 1 Share |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Nobody: 4:05pm On May 06, 2020 |
opalu: 42 Likes 8 Shares |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by June15(m): 4:06pm On May 06, 2020 |
And that's all.. and it is over 6 Likes |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Goddey18(m): 4:06pm On May 06, 2020 |
Another looting spree loading 67 Likes 4 Shares |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Racoon(m): 4:07pm On May 06, 2020 |
Borrow! Borrow! Loan! Loan! Loan!!! Then the looting galore continues.Nigeria! 12 Likes 1 Share |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by ecolime(m): 4:32pm On May 06, 2020 |
Congrats Buuhari & Co. It's time to cash out again. We never see anything. Today is my birthday. Naija no fit kill my joy abeg. 88 Likes 4 Shares |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Avalancheman: 4:44pm On May 06, 2020 |
Loan upon loan! Some day, Nigeria won't be credit-worthy anymore. Then they will start giving us crazy conditions. Pathetic!! 8 Likes 2 Shares |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by byinks(f): 4:55pm On May 06, 2020 |
5G consumes a lot power. 3 Likes |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by GamalNasser: 4:59pm On May 06, 2020 |
Another loan Buhari the magician will make disappear into very thin air without any trace once more 47 Likes 6 Shares |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Trailblazer1(m): 5:46pm On May 06, 2020 |
Nigeria should not only borrow money, we should also be allowed to borrow other things like PRESIDENTS 58 Likes 5 Shares |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Trailblazer1(m): 5:47pm On May 06, 2020 |
In the same vein, I hereby call on Shekau to account for every adopted Chibok school girl 5 Likes 1 Share |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Alwaysachick: 6:19pm On May 06, 2020 |
Credit alert 2 Likes |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by olaboy33(m): 6:19pm On May 06, 2020 |
dipoolowoo: Greek gift. 4 Likes |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Slawormir: 6:19pm On May 06, 2020 |
Damnnnnn niggarr Isoright 2 Likes |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Kamani8: 6:19pm On May 06, 2020 |
Golan007: All countries are borrowing ba. This is what Nigerians do when they want to support our evil leaders. Nya nya nya nya America borrowed, UK borrowed nya nya nya . Show me which of the countries that borrowed that look anything like Nigeria. Tell me which of the countries that borrowed and left their citizens completely hungry like nigeria. 76 Likes 5 Shares |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Miracle4Sure: 6:19pm On May 06, 2020 |
Hmm |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Blossomfirst(f): 6:19pm On May 06, 2020 |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by jericco1(m): 6:19pm On May 06, 2020 |
Nigerians should brace themselves for heavy taxing because that's what the government have promised the IMF of doing. It's a complete disaster One percent interest is a whopping $34m.. this is the most senseless government in modern history, they keep on bragging about revenues generated from multiple agencies and parastatals yet one cannot fathom why they keep on borrowing and without providing a favourable repay strategy. Well I know for sure that this money is going into the pockets of few individuals. 23 Likes 3 Shares |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by Adebaba1(m): 6:19pm On May 06, 2020 |
Sinzu just dey cash out |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by ogawriter(m): 6:19pm On May 06, 2020 |
Over a 1,000,000,000,000 Trillion Naira It is finished All of it is finished 13 Likes 2 Shares
|
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by PericomaNwankwo: 6:20pm On May 06, 2020 |
It's a loan, another negative achievement!!! And they are rejoicing!!! Ndi Ara ndi ara 14 Likes |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by sunshineV(f): 6:20pm On May 06, 2020 |
What about the citizens? V |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by sammyj: 6:20pm On May 06, 2020 |
Naira devaluations loading. Just imagine the same institution that advised the footballer into devaluing our Naira back then all in the name of SAP that brought nothing but poverty and downfall of the country in the global space is the same institution this incompetent no direction government is running to for loan. Las las we will learn by the time 1000 Niaria equals 1 Dollar !! 13 Likes 1 Share |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by nairavsdollars(f): 6:20pm On May 06, 2020 |
Who will pay all these debt Buhari is accumulating?. 2 Likes |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by tetralogyfallot(m): 6:20pm On May 06, 2020 |
Xjxjxj |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by omotowo2: 6:20pm On May 06, 2020 |
A |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by LTRAVIS(m): 6:20pm On May 06, 2020 |
Bubu don cash out .... what’s the need of this loans when we all know it’s never going to be put into good use ..... they are going to drown the country in debt 9 Likes |
Re: IMF Credits Cbn's Account With $3.4bn Emergency Loan by hustla(m): 6:20pm On May 06, 2020 |
Wire nla 4 Likes |
(1) (2) (3) (4) (5) (6) (7) (8) (Reply)
IPOB Reacts To Murder Allegation By Asari Dokubo Against Nnamdi Kanu / EFCC To Move Into New Headquarters / Imo Predicts Economic Boom Over 43 Oil Wells Recovered From Rivers
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 32 |