Economy
IMF raises hope of higher growth for Nigeria’ s sluggish economy in 2021

The IMF disclosed this on Tuesday during the 2021 Virtual Spring meetings.
Nigeria exited recession with a 0.11 percent in the fourth quarters of 2020.
The body also forecast a growth of 3.4 percent for the Sub-Saharan Africa region in 2021, up 0.2 percent, from the previous forecast.
It also lifted its global economic growth forecast for 2021 to six percent — the strongest annual growth in more than four decades, up from the 5.2 percent it anticipated in October. The rebound comes after a 3.3 percent contraction in 2020.
“Global prospects remain highly uncertain one year into the pandemic. New virus mutations and the accumulating human toll raise concerns, even as growing vaccine coverage lifts sentiment.
“The outlook depends not just on the outcome of the battle between the virus and vaccines—it also hinges on how effectively economic policies deployed under high uncertainty can limit lasting damage from this unprecedented crisis.
“Global growth is projected at 6 percent in 2021, moderating to 4.4 percent in 2022. The projections for 2021 and 2022 are stronger than in the October 2020 WEO.
“High uncertainty surrounds this outlook, related to the path of the pandemic, the effectiveness of policy support to provide a bridge to vaccine-powered normalization, and the evolution of financial conditions.”
Economy
Court reverses self over contempt charge against Fidelity Bank chief

A Chief Magistrate Court sitting in Ikeja, Lagos has vacated its ruling that convicted and sentenced the Managing Director of Fidelity Bank,Nneka Chinwe Onyeali-Ikpe and Company Secretary of Fidelity Bank, Mrs. Unuigboje Ezinwa to six weeks in prison or a fine of Four Hundred Thousand Naira respectively for contempt.
Economy
Supreme court restrains FG from enforcing naira swap deadline

Economy
CBN succumbs to pressure, extends use of old naira notes to February 10

Up till Saturday, CBN had insisted on the 31st January deadline for the validity of the old N200, N500 and N1,000 despite overwhelming complaints that the notes are either not available or in short supply in the banks or their Automated Teller Machines.
Last October, Emefiele announced the Naira redesign policy which entails the issuance of new notes to replace the existing N200, N500 and N1,000 series.
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