FG, States in N25trillion debt – DMO releases data
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The Debt Management , DMO, has published the Public Debt comprising the domestic and external debts of the Federal Government of (FGN), the 36 States of the Federation and the Federal Capital Territory (FCT) as at March 31, .

The figures were released in a statement on its website on Wednesday.

“At ₦24.947 Trillion (US$ 81.274 Billion) as at March 31, 2019, the Total Public Debt grew marginally by 2.30% when compared to the figure of ₦24.387 Trillion (US$ 79.437 Billion) as at December 31, 2018.

“The increase of ₦560.009 Billion in the Total Public Debt in Q1 2019, was accounted for largely by Domestic Debt which grew by ₦458.363 Billion.

“Increases were recorded in the Domestic Debt Stock of the FGN, States and the FCT. External Debt also increased by ₦101.646 Billion during the same period.

“In relation to the Debt Management Strategy, the Ratio of Domestic to External Debt stood at 68.49% to 31.51% at the end of March 2019.

“The Total Public Debt to GDP Ratio was 19.03% which is within the 25% Debt Limit imposed by the Government,” the statement read.

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Abass Sulaiman Adegoke, well known as Adegoke is a student of Federal Polytechnic Ede studying Civil Engineering, He is a media enthusiast, loves traveling, and has a special interest in personal development.

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Adebanjo reveals real reason behind Buhari’s new attitude towards Osinbajo, says Nigeria should break up

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Adebanjo reveals real reason behind Buhari’s new attitude towards Osinbajo, says Nigeria should break up Pa Ayo Adebanjo 1024x717

A chieftain of the Yoruba apex socio-cultural organization, Afenifere, Chief Ayo Adebanjo, has noted that constitutional crisis in and the imbalance in the polity are the main cause of agitation for a break-up by different groups in the country.

The lawyer and elder statesman said that it would be better if the country breaks up since the leaders refuse to restructure it.

According to him, “I have no objection to breaking up. People are talking of breaking up because the term of coming together has been abrogated by the northern Muslims who are dominating us,” he was quoted by Sun.

“This is why the young elements, extremists in the South- East, South – South, South –West and the Middle Belt are yearning for break-up just because of their refusal to yield to our demand of peaceful co-existence.”

On the recently reported crisis in the Presidency and the news of Vice president, Prof Yemi Osinbajo falling out of favour with President Muhammadu Buhari, the elder statesman blamed the constitution for the President’s action.

According to him, “It is just what I have said earlier. They are the people who aided and abetted the implementation of the wrong constitution because they give them the crumbs of the power. It is this constitution that empowers the president to make the vice president a market master. Whatever you are doing, the bottom line is the constitution.

“If it is not this constitution, would the president be doing all that; is it not the constitution that gives him all the powers; a constitution that makes him the most powerful head of state in the whole world.

“I have said it several times and I’m repeating it, we said it should be changed, but you say, no. This is not the constitution the founding fathers of the nation gave us.

“I say it again, the constitution that Azikiwe, Awolowo and Ahmadu Bello gave us is what we want to return to, and I have challenged him whether he is more intelligent than Sardauna, but he has not answered.

“Is he telling us that the constitution that Sardauna gave us is a wrong constitution, Sardauna was not as intelligent as he is now; or he is a more northerner than former premier or a more Muslim than the late premier?

“It was the constitution that they all agreed to live in peace and that was after a crisis in the country, leading the colonial to draw all the leaders to London.”

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CASH-LESS POLICY NOT INTENDED TO PUNISH HARDWORKING NIGERIAN BUSINESSES – CBN GOV

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cash-less policy not intended to punish hardworking nigerian businesses – cbn gov CASH-LESS POLICY NOT INTENDED TO PUNISH HARDWORKING NIGERIAN BUSINESSES – CBN GOV Godwin Emefiele NTB

The Governor of the Central Bank Of , CBN, Godwin Emefiele has assured Nigerians that the new cashless policy by the country’s apex bank was “not intended to punish hard working Nigerian businesses”

Image result for Godwin Emefiele cash-less policy not intended to punish hardworking nigerian businesses – cbn gov CASH-LESS POLICY NOT INTENDED TO PUNISH HARDWORKING NIGERIAN BUSINESSES – CBN GOV Godwin Emefiele NTB

Mr. Emefiele gave the assurance while be briefing newsmen today, September 20, , on the decisions of the Monetary Policy Committee (MPC).

According to the CBN boss, the Financial body introduced the new policy to further deepen financial inclusion in country.

Image result for CBN cash-less policy not intended to punish hardworking nigerian businesses – cbn gov CASH-LESS POLICY NOT INTENDED TO PUNISH HARDWORKING NIGERIAN BUSINESSES – CBN GOV central bank of nigeria

Recall that the CBN had recently introduced charges to cash transactions in excess of N500,000 and N3,000,000 for individual and coperate account.

The new policy would see individuals pay 2% charge on deposits exceeding N500,000 and 3% on withdrawals; for coperate accounts, 3% charge on deposits in excess of N3,000,000 while withdrawal will attract a 5% charge.

Click here to read all about the new policy.

Owing to the controversy and backlash the new policy has attracted, the CBN Governor held a press conference Friday to further educate the general public how it works.

He also assured Nigerians that there is no threat to the country’s Reserves over the Process and Industrial Development Limited (P&ID) court judgement.

What’s you opinion on the new policy? Leave your comments below.

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