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IMF: Economic crisis worse than ’08 financial crisis

The Managing Director (MD) of the International Monetary Fund (IMF), Ms Kristalina Georgieva, has said that COVID-19 has created an economic crisis worse than what the world economy experienced under the global financial crisis in 2008.
Regine Murengerantwari (2nd L) who rents her rooms for income sits with her sons at home in a suburb of Kigali, Rwanda, on April 1, 2020. – After the lockdown, with no payments from the tenants, she has no income and no food for her four children returned from their boarding school by the closure. She hasn’t eaten for a few days now. (Photo by Simon Wohlfahrt / AFP)

Rwanda’s poor confront further hardship as shutdown extends

Out of work, with prices soaring and police on the streets, life for many Rwandans has become immeasurably harder under coronavirus lockdown, and the pain looks only set to deepen.
The Minister of Power, Mr Saleh Mamman, has assured Nigerians that effective metering will tackle the challenges of liquidity and energy theft in the power sector.

Minister: Why we suspended electricity tariff hike

The Minister of Power, Engr. Saleh Mamman, has explained that the suspension of take-off of the new electricity tariff hike till next three months was in line with President Muhammadu Buhari’s announcement of March 29 granting a moratorium for certain Federal Government’s funded facilities to the Nigerian public.
The Presidential Election Petition Tribunal has upheld argument by President Muhammadu Buhari that it lacked the jurisdiction to entertain allegation of corrupt practices and voters’ inducement raised against Vice President Yemi Osinbajo in the petition by Atiku Abubakar and the PDP.

VP Osinbajo assures further palliatives will be developed

Vice President Yemi Osinbajo says part of the tasks given to the Economic Sustainability Committee which he chairs, is to develop further palliatives.

World Bank, EU distribute computers to MDAs in Cross River

The World Bank and European Union (EU) have donated computer sets to critical Ministries, Departments and Agencies (MDAs) in Cross River.
Customers get a haircut ahead of a nationwide 21-day lockdown in an attempt to contain the coronavirus disease (COVID-19) outbreak in Waterfall, South Africa, March 26, 2020. REUTERS-Rogan Ward

South Africa announces tax relief for business hit by virus

South Africa’s National Treasury said on Sunday it was introducing a new tax subsidy of 500 rand ($28) per month for each worker to employers for the next four months to cushion financial losses suffered by firms due to the coronavirus.

South Africa may approach the IMF for “health funding”

South Africa may approach the International Monetary Fund and World Bank for funding to fight the coronavirus that threatens to drag the country’s economy deeper into recession, Finance Minister Tito Mboweni said in the Sunday Times newspaper.
A man is silhouetted against the logo of the World Bank at the main venue for the International Monetary Fund (IMF) and World Bank annual meeting in Tokyo. REUTERS-Kim Kyung-Hoon

World Bank, IMF urge debt relief for poorer countries hit by coronavirus

The heads of the World Bank and International Monetary Fund on Friday underscored the need to provide debt relief to poorer countries hit by the coronavirus pandemic, and said official bilateral creditors would have to play a major role.
Gov. Abubakar Sani-Bello of Niger has urged the Muslim Ummah to pray for peace, unity and security for meaningful development in the country.

Niger governor goes into self-isolation

The Niger State governor, Abubakar Bello, has gone on self-isolation as a result of his attendance of the Nigeria Governors’ Forum’s meeting on March 18.

Tunisia discussing new IMF programme – minister

Tunisia has started negotiations with the International Monetary Fund for a new loan programme, but a plan to issue bonds is on hold because of the coronavirus, the finance minister said on Monday.
A man is silhouetted against the logo of the World Bank at the main venue for the International Monetary Fund (IMF) and World Bank annual meeting in Tokyo. REUTERS-Kim Kyung-Hoon

World Bank moving forward on first $1.7 billion in virus aid projects

The World Bank’s executive board is expected to consider later this week the first fast-track funds to help Afghanistan and Ethiopia respond to the coronavirus pandemic, the Bank’s president said on Sunday.
A man is silhouetted against the logo of the World Bank at the main venue for the International Monetary Fund (IMF) and World Bank annual meeting in Tokyo. REUTERS-Kim Kyung-Hoon

Uganda to seek $190 million from World Bank to cushion coronavirus blow

Uganda will request the World Bank for a loan of $190 million to help cushion its economy from the impact of the coronavirus pandemic, its finance minister said.
The Economic and Financial Crimes Commission (EFCC) on Thursday in an FCT High Court in Maitama, re-arraigned a deputy director with the National Emergency Management Agency (NEMA), Emenike Umesi, for alleged misappropriation of N54.3 million.

EFCC arraigns ex-Bauchi accountant general, finance director over N258 million fraud

The Economic and Financial Crimes Commission (EFCC) has arraigned the ex-Accountant General of the Bauchi State government, Yusuf Ibrahim Gokaru and the State Director of Finance, Ibrahim Muhammed Lele.
Dr Chris Ngige, Minister of Labour and Employment said this while fielding questions on television concerning the time for payment of the new wage.

Coronavirus: Nigeria suspends recruitment exercises

As parts of efforts to contain the effects of the coronavirus on the nation’s economy, the Nigerian government on Wednesday announced plans to halt recruitment exercises in the public service.
A worker walks outside the coronavirus isolation facility at the Mbagathi Hospital in Nairobi, Kenya March 15, 2020. REUTERS-Njeri Mwangi

World Bank offers $60 million to Kenya to fight coronavirus outbreak

The World Bank said on Monday it had committed $60 million to Kenya to help the East African nation battle the coronavirus outbreak that has spread to at least 30 countries on the continent.
They are Presidents Olusegun Obasanjo, Umaru Yar’Adua and Goodluck Jonathan.

Nigeria: No record of how former Presidents Obasanjo, Jonathan spend $5 billion Abacha’s loot

The Federal Government has told the Socio-Economic Rights and Accountability Project (SERAP) that it has no records of the exact amount of public funds stolen by a former military head of state, Sani Abacha and no records of the spending of about $5 billion recovered loot for the period between 1999 and 2015.

Nigeria: No record of spending on $5 billion Abacha loot’

The Federal Government has told Socio-Economic Rights and Accountability Project (SERAP) that it “has no records of the exact amount of public funds stolen by a former military head of state, Sani Abacha, and no records of the spending of about $5 billion recovered loot for the period between 1999 and 2015.”
President of the Senate, Ahmad Lawan, disclosed on Tuesday that the Senate may next week consider the report of an Ad-Hoc Committee on security challenges with a view to finding solutions to Nigeria’s security problems.

Poverty: Senate urges Nigeria to prioritize resources for human capital development

The Senate on Wednesday urged the Federal Government to as a matter of urgency, prioritize the allocation of resources for human capital development so as to mitigate against the impact of poverty in the country.

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APC governors hail Comrade Adams Oshiomhole at 68

Governors on the platform of the All Progressives Congress under the aegis of Progressive Governors’ Forum (PGF) have congratulated their national chairman, Adams Oshiomhole, on the occasion of his 68th birthday.
Temitope Alonge

Oyo records new coronavirus case, to fumigate markets

The Oyo State COVID-19 Task Force said the state has recorded another positive case, bringing to nine the total of positive cases in the state.
The Flash star Logan Williams has died aged 16.

The Flash actor Logan Williams passes on at 16

Williams, who played a young Barry Allen in eight episodes of The CW series, suddenly passed away on Thursday (April 2), the cause of his death has not been reported.

Abia coronavirus lockdown taskforce impounds vehicles, tricycles

Several vehicles and tricycles were on Saturday impounded by the Abia State Joint Taskforce on Enforcement of lockdown over COVID-19 pandemic.g
Pink, 40, revealed Friday night that she had caught and recovered from a case of the novel coronavirus COVID-19.

Pink reveals coronavirus diagnosis, donates $1 million to relief funds

Pink, 40, revealed Friday night that she had caught and recovered from a case of the novel coronavirus COVID-19.