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Daily Archives: April 18, 2018

RMAFC recovers N57.7bn shortfall in banks’ revenue remittances

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has recovered a total of N57.7 billion from banks as unremitted revenues collected on behalf of the Federal Government.   The banks had, based on audits by the government, failed to remit N74.1 billion to government coffers between July 2012 and December 2015.   A press brief issued by the Commission’s Head of ... Read More »

FG offers N90bn bonds for subscription by auction

The Federal Government Tuesday offered for subscription by auction N90 billion worth of bonds in its April 25 auction. The Debt Management Office (DMO), through a circular hosted on its website, indicated that it would auction N30 billion of a five-year new issue maturing in April 2023 at a yet-to-be disclosed rate. The Office also stated that it would also sell N30 billion seven-year ... Read More »

IMF forecasts 2.1% growth for Nigeria, predicts oil prices slump

The International Monetary Fund (IMF) has projected that the Nigerian economy would grow from 0.8 per cent in 2017 to 2.1 per cent by the end 2018 and by 1.9 per cent in 2019. Curiously, the Fund’s projection is coming just about two months after the World Bank predicted that Nigeria will record at least 2.5 percent economic growth this year, ... Read More »

Uganda President tries to ban oral sex because ‘the mouth is for eating’

The president of Uganda has said he wants to ban the nation’s citizens from practicing oral sex because ‘the mouth is for eating’. President Yoweri Museveni blamed ‘outsiders’ for trying to convince Ugandans to perform oral sex on one another – and said he was issuing a public ‘warning’ about it. He told press: ‘Let me take this opportunity to ... Read More »

Thugs invade Nigerian Senate plenary, seize mace

Thugs suspected to be loyal to the suspended senator representing Delta Central Senatorial district, Ovie Omo-Agege, have invaded the red chambers and forcefully taken away the mace. They broke into the chambers when plenary was going on, thereby creating serious confusion and tension. The operation took Sergeant-At-Arms by surprise who tried to reclaim the mace without success. It will be ... Read More »