American business magnate and billionaire, Bill Gates has advised the Federal Government of Nigeria to increase the tax and domestic revenue to about 15% of the Gross Domestic Product. The Microsoft founder explained that the country’s domestic revenue was quite small compared to other countries.

As part of its effort to stimulate lending to the real sector of the economy, the Central Bank of Nigeria has directed that banks’ daily deposits placement through the CBN’s Standing Deposit Facility, shall no longer exceed N2 billion. 

The World Bank has said that the Nigerian economy is slipping.

By Nnanke Harry Willie (Written in 2016)Godbless is a furniture maker. He was privileged to have attended one of the technical schools in the 1980s...