The Senate yesterday adopted the N1.64 trillion proposed by the Executive for new borrowing to fund this year’s budget deficit. The upper chamber also approved the proposed N500 billion special social intervention funds. The adoptions were parts of the 2019-2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) passed yesterday by the upper chamber.
Kenya’s National Environment Management Authority director general Prof Geoffrey Wahungu said despite the ban, the regulator still faces challenges in controlling contraband materials. “We have done well but we will not be free from plastic pollution if Uganda and Tanzania continue to produce the materials, which are sneaked into the country through the borders,” Prof Wakhungu
Nigeria’s aggregate public debt grew 12.25 per cent or N2.66 trillion year-on-year as at December 31, 2018, totalling N24.387 trillion ($79.437 billion), compared to N21.7 trillion posted over the same period in 2017, the Debt Management Office (DMO) has revealed. A breakdown of the debts showed that external debt stood at N7.759.23 trillion ($22bn), while domestic component stood at N16.627.84 trillion ($56bn).
A top official of the bank who spoke under condition of anonymity to our reporters said retrenchment within the bank is an exercise carried out regularly to ‘weed out’ those who are either unproductive or overstayed their welcome in the bank.
Experts have called on government at all levels to put paid to its borrowing in order to safe the incoming generations from falling into unmitigated debts. Speaking at a two-day workshop of The MaroonSquare Discourse on National Development in Lagos, at the weekend, a lecturer at department of Political Science, Lagos State University, Prof. Sylvester … Continue reading Anxiety over Nigeria’s $73bn debts
The Accountant-General of the Federation (AGF), Mr Ahmed Idris, on Wednesday said the Federal Government shared N619.85 billion, as revenue generated in February to the three tiers of government. The amount showed an increase of about N9.49 billion from what was shared in January.
In the three months following the introduction of the levy, the number of internet subscriptions to such services fell by more than 2.5 million, according to the Uganda Communications Commission. Fears have been raised over the impact on the economy. However, the president, Yoweri Museveni, wrote to the finance ministry in March urging the introduction of the tax as a way to deal with the consequences of online “gossip”.
The Peoples Democratic Party, has cleared all votes cast at the two polling units at Amachalla Primary School Mpu, in Aninri Local Government Area of Enugu State. Mpu is the country home of the Deputy Senate President and PDP Senatorial candidate for Enugu West, Senator Ike Ekweremadu. It reports that out of the 499 valid votes cast, PDP scored 468 votes for Presidency, 490 for Senate and 492 for House of Reps. Other parties scored zero.
The European Commission adopted today a list of 23 third countries with weak rules against money laundering and terrorism financing. I would like first to explain the context and our main objectives. The EU must not be a destination for illicit money. The EU financial system must not serve as a vehicle for money laundering and must not serve as an instrument for financing crime including terrorism.
Quadriga has filed for creditor protection and estimates that about C$180m ($137m; £105m) in cryptocurrency coins is missing. It has not been able to locate or secure its cryptocurrency reserves since Gerald Cotten died in December. Cotten, 30, had sole responsibility for handling the funds and coins. In court documents filed with the Nova Scotia Supreme Court on 31 January, his widow Jennifer Robertson, says the laptop on which Cotten "carried out the companies' business is encrypted and I do not know the password or recovery key".
Russia's recent activities in Sudan and the Central African Republic have been the subject of intense speculation. That's because along with renewed economic ties, private Russian military contractors are reported to have been active in both countries. This is particularly sensitive in Sudan, where there have been widespread, often violent anti-government protests.
Positive publicity is a powerful tool when operated correctly. That’s what I call public relations -- positive publicity. The term “PR” is so boring and antiquated. Many people don’t realize how powerful it is because they don’t seem to understand how it works. What I’m about to say flies in the face of what public relations insiders want entrepreneurs and business owners to think:
Jim Yong Kim has made the surprise announcement that he is stepping down after six years in the post. His resignation will take effect from 1 February. Mr Kim, 59, was not due to leave until 2022, after he was re-elected for a second five-year term in 2017. He will "join a firm and focus on increasing infrastructure investments in developing countries", the World Bank said.
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