Self-made billionaire business woman, Sarah Blakely reveals the best advice her father gave her about life and marriage

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Sarah Blakely, the founder of Spanx has revealed one advice her father gave her which proved very useful in her life.

 

The billionaire business woman said her father once told her that “marriage is the most important decision of your life, but it should be the easiest.”

 

She said she argued with her father about the advice and resisted marriage for a long time. Until she met her husband and the advice made sense.

 

Self-made billionaire business woman, Sarah Blakely reveals the best advice her father gave her about life and marriage

 

Sarah Blakely shared a screenshot of an article O’s editor at large, Gayle King, featured her father’s advice in and she wrote in the caption:

 

Every time I see Gayle she flashes me her @spanx! Thanks for the top 10 shoutout Gayle. It’s true… my dad used to say, “marriage is the most important decision of your life, but it should be the easiest.” I would argue with him… “But dad if it’s the most important decision there’s no way it’s going to be the easiest..” …. until I met Jesse. I was 37 years old when I finally got married. I spent a lot of time before Jesse in relationships wondering, should I? Shouldn’t I? Is this right? Isn’t this right? And then I met Jesse and it was like, oh hi. Of course I’ll marry you. #EasiestDecision #Marriage #10yrs#4kidsLater @jesseitzler
@gayleking @forbes @oprahmagazine

 

Self-made billionaire business woman, Sarah Blakely reveals the best advice her father gave her about life and marriage

Self-made billionaire business woman, Sarah Blakely reveals the best advice her father gave her about life and marriage

N-Power fraudsters sentenced to one year in prison for Impersonation

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Justice I.M. Sani of the Federal High Court sitting in Port Harcourt, Rivers State has convicted and sentenced Sata Owugha Clinton and Bolounmubofa Blessing Soroh to one year imprisonment for impersonation and using the identity of a petitioner to enrol in the Federal Government of Nigeria’s N-POWER Social Welfare scheme.

 

The convicts were arraigned by the Port Harcourt’s Zonal Office of the Economic and Financial Crimes Commission, EFCC, on a one-count charge bordering on impersonation under Section 22(3) (a) of the Cybercrimes Prohibition, Prevention Act 2015 and punishable under Section 22(4) of the same Act.

 

Clinton and Soroh got into trouble when they used the name and identity of Lovedy Chiamaka Uzor to enrol in the welfare scheme and in the process obtained the sum of N360,000 (Three Hundred and Sixty Thousand Naira only) from the scheme. They were able to open a bank account in the name of Uzor because she also applied for the scheme, but stopped her application mid-way, fearing that the scheme may be a scam.

 

The convicts capitalized on this and completed the enrolment processes in the victim’s name. The victim got wind of their fraudulent activities when she contacted her bank and found out that the convicts were already receiving payments from the scheme in her name.

The charge reads: “That you, Sata Owugha Clinton and Bolounmubofa Blessing Soroh on or about the 10th of October, 2017 at Zenith Bank within the Jurisdiction of this Honourable Court did fraudulently impersonate one Loveday Chiamaka Uzor with intent to gain advantage for yourselves thereby committed an offence contrary to Section 22(3) (a) of the Cybercrimes prohibition, Prevention Act 2015 and punishable under Section 22(4) of the same Act.”

They pleaded “guilty” to the charge. In view of their pleas, prosecuting counsel, Alao Rashidat, prayed the court to sentence the defendants for the offence of impersonation accordingly as contained in the Cybercrimes Prohibition, Prevention Act.

 

Justice Sani, thereafter, convicted and sentenced them to one year in prison.

History made as Mrs Priscilla Ekwere Eleje becomes the first woman to have her signature on the 1000 Naira note

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Mrs Priscilla Ekwere Eleje has made history by becoming the first woman to have her signature on the 1000 Naira note.

 

Mrs Ekwere Eleje is the first female Director of Currency Operations at the Central Bank of Nigeria, CBN. She has also been confirmed as the substantive director of CBN.

 

Mrs Eleje was reportedly confirmed Substantive Director of CBN on August 30, 2018, and currencies printed from then on will carry her signature.

A recently printed 1000 Naira note was shared online and it shows the signature of Mrs Priscilla Ekwere Eleje.

 

History made as Mrs Priscilla Ekwere Eleje becomes the first woman to have her signature on the 1000 Naira note

 

‘You are the hardest working man I know’ – Ciara praises her husband Russell Wilson on becoming the highest paid player in the NFL

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Singer, Ciara has taken to her Instagram to celebrate her husband, Seattle Seahawks Quarterback, Russell Wilson after he became the highest-paid player in National Football League following a  four-year contract worth $140 million that includes a $65 million signing bonus.

Sharing this photo of him, the singer wrote:

‘I watch you put everything on the line every Sunday in pure amazement. Your dedication, consistency, and commitment to the game never wavers. You’re always the first person in, and the last person out. You’re 1 of 1. The hardest working man I know! So proud of you baby! Giving God All the praise. #GoHawks’

Nipsey Hussle’s family politely shut down all fundraising efforts for his kids and give reason

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Nipsey Hussle’s family is politely shutting down every fundraising efforts being made to financially support his kids.

 

The family of late Ermias Asghedom are even refusing funds from celebrities for Nipsey’s kids. According to them, Nipsey made sure before he died that his kids would be financially secure.

 

Sources close to Nipsey’s family told TMZ that the slain rapper made sure his two children, Emani and Kross Asghedom, would never have to rely on other people for money.

NFL star Reggie Bush started a GoFundMe page to raise $100,000 for Nipsey’s kids. Bush personally donated $10,000 to get things started. But that fundraiser has already been scrubbed from the internet.

 

Nipsey’s family are grateful for the support but say Nipsey’s just wouldn’t want it that way, and since he left his family financially secure, it’s just not necessary.

Champions League: Lionel Messi progresses with Barcelona while Ronaldo crashes out with Juventus

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The anticipated face-off between Lionel Messi and Cristiano Ronaldo in the final of this year’s UEFA Champions League will not happen.

 

While Messi with two goals on Tuesday night helped Barcelona beat Manchester United 3-0, the solitary goal scored by Ronaldo was inadequate as Ajax stunned Juventus 3-1 in Turin. Barca entered Tuesday’s second leg match with a 1-0 advantage earned from the first leg at Old Trafford and it proved to be a comfortable progression to the final four at United’s expense

 

Aside from Messi, Philippe Coutinho got the other goal that ensured that Barcelona progressed with a 4-0 aggregate scoreline. The Spanish champions, who are on for a treble this season, will face either Liverpool or Porto in the semifinals of the competition. In Turin, Ajax secured a semi-final ticket slot in the Champions League for the first time since 1997 with a 2-1 victory over Juventus, progressing through on a 3-2 aggregate scoreline.

 

Ronaldo’s fifth knockout-round goal in Juve colours had given the Italians the lead, but Ajax hit back through Donny van de Beek and Matthijs de Ligt to deservedly progress through. The Dutch champions have now seen off defending champions Real Madrid and many people’s favourites Juventus to make it to the semis. Ajax will face one of the all-Premier League tie between Manchester City and Tottenham Hotspur

Fire breaks out at Notre-Dame Cathedral in Paris

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The famous Notre-Dame cathedral in Paris was on fire and it spread rapidly across the building.

Efforts are being made to tackle the fire which broke out on Monday afternoon, but, so far, the cathedral’s spire and roof have collapsed.

A spokesman for the cathedral said the whole structure was “burning”.

“There will be nothing left,” he said. “It remains to be seen whether the vault, which protects the cathedral, will be affected or not.”

 

Fire breaks out at Notre-Dame Cathedral in Paris

 

The flame attracted hundreds of spectators who gathered around the 850-year-old building to observe the flames in silence.

French President Emmanuel Macron, who has arrived at the scene, said his thoughts were with “all Catholics and all French people.”

Mr Macron has cancelled his planned speech to the nation following the fire, an Élysée Palace official said.

 

Fire breaks out at Notre-Dame Cathedral in Paris

 

Historian Camille Pascal told French broadcaster BFMTV the fire was destroying “invaluable heritage.”

He said: “For 800 years the Cathedral has watched over Paris.

“Happy and unfortunate events for centuries have been marked by the bells of Notre Dame.

“We can be only horrified by what we see”.

 

Fire breaks out at Notre-Dame Cathedral in Paris

 

The cause of the fire is not yet clear, but officials speculate that it could be linked to renovation work.

Photos from Majek Fashek’s first ever visit to South Africa

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Nigerian music legend, Majek Fashek recently visited South Africa for the first time ever and according to him, ‘the expereince was really lovely’.

 

Majek Fashek went on to say, ‘I never knew South Africans love me so much. It was incredible and also I’m grateful to my fantastic host King Babajide the Mayor of Cape Twon who went abpve and beyond to make sure my trip was smooth’.

 

See more photos from the trip below…

Photos from Majek Fashek

Photos from Majek Fashek

Photos from Majek Fashek

Photos from Majek Fashek

Armed bandits kill 15 people, Injure 11 In fresh Nasarawa village attack

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No fewer than fifteen people have been killed and 11 others injured after armed bandits  attacked Numa Kochu village in Nasarawa State.

 

Police authorities in the state confirmed the figures today and according to the Assistant Commissioner of Police in charge of Operations in the command, Umar Nadada, the incident occurred on Sunday night.

 

Nadada, a Deputy Commissioner of Police, added that the attack took place in Akwanga Local Government Area of the state. He explained that some residents of the community were having a birthday party when the gunmen attacked them.

 

The DCP disclosed that a pregnant woman was among those killed while the injured sustained several degrees of wounds. He said the bodies of the victims have been deposited at the General Hospital in Akwanga and those injured were also receiving treatment there. Nadada also noted that normalcy has been restored in the community following the deployment of adequate security personnel.

FIFA bans convicted Brazilian soccer chief, Jose Marin for life

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Brazilian soccer official Jose Maria Marin has been banned for life by FIFA 16 months after he was convicted of corruption charges in the United States.

 

86-year-old Marin, who led Brazil’s organizing committee for the 2014 World Cup, was sentenced in August to four years in prison for racketeering, money laundering and wire fraud. FIFA said Marin was also guilty of taking bribes linked to media and marketing rights for South American and Brazilian soccer competitions.

 

Prosecutors in federal court said at his 2017 trial that Marin took $6.6 million in bribes. He was ordered to forfeit $3.3 million and pay a $1.2 million fine. The FIFA ethics committee also imposed a 1 million Swiss franc ($1 million) fine the same financial penalty ordered against several soccer officials indicted or convicted by American authorities. It is unclear how FIFA can enforce payment.

 

Marin was arrested at a luxury Zurich hotel in May 2015 as part of the sweeping American investigation of corruption linked to FIFA officials. More than 40 people and marketing agencies have pleaded guilty, been convicted or have been indicted and are fighting extradition. After being extradited to the United States in 2015, Marin was released on bail and lived in his Trump Tower apartment in Manhattan while awaiting trial.

2019 JAMB: Police arrests over 50 professional exam writers

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The Joint Admissions and Matriculation Board today said it has uncovered and arrested over 50 ‘Professional Examination Writers’ who specialized in writing examination for candidates for a fee.

 

The board’s weekly official bulletin, tagged: ‘JAMBULLETIN’, signed by JAMB’s Head, Media and Information, Dr Fabian Benjamin disclosed this in Lagos State. The board said it uncovered a group described as ‘Professional Examination Writers’ who specialises in writing examination for candidates for a fee.

 

According to the bulletin, as a result of the various intelligence gathering mechanism, the board was able to uncover and arrest over 50 of such fraudulent persons in centres spread across the country. It noted that some of the suspects were Master’s Degree holders and undergraduates of tertiary institutions in the country. According to the bulletin, these professional examination writers connived some Computer Based Centre owners to perpetuate the crime by engaging in multiple registrations whereby the fingerprints of the actual candidates and their impersonators are captured side by side.

“The modus operandi of these UTME syndicates was confirmed when one of the kingpins was apprehended recently. On interrogation, he confessed to the multiple registrations of his biometrics alongside other several potential candidates preparing to sit for the examination, in exchange for a huge sum of money.

“This development led to the decision of the board to revalidate all biometrics of candidates that have taken the board’s examination in recent times. This timely action will enable the board to not only fish out and dismantle this registration cartels and racketeers but also bring them to book along with their collaborators,” it said.

The bulletin added that another startling discovery by the board was the fact that a substantial portion of the UTME application documents, was composed of the bogus registration. It noted that the unwholesome application had the singular effect of inflating the total statistical data of candidates’ registration that amounted to over 30 per cent of the 1.8 million that registered for the 2019 UTME.

Kim Kardashian opens up on the struggles of studying law and how she balances it all

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Kim Kardashian recently disclosed to Vogue US that she’s studying to be a lawyer. She has now told her followers that she registered since last year and her first year is almost over.

She added that it’s not been easy and revealed the extreme measures she’s taken to make it work.

She wrote:

 

Last year I registered with the California State Bar to study law. For the next 4 years, a minimum of 18 hours a week is required, I will take written and multiple choice tests monthly. As my first year is almost coming to an end I am preparing for the baby bar, a mini version of the bar, which is required when studying law this way. I’ve seen some comments from people who are saying it’s my privilege or my money that got me here, but that’s not the case. One person actually said I should “stay in my lane.” I want people to understand that there is nothing that should limit your pursuit of your dreams, and the accomplishment of new goals. You can create your own lanes, just as I am. The state bar doesn’t care who you are. This option is available to anyone who’s state allows it. It’s true I did not finish college. You need 60 college credits (I had 75) to take part in “reading the law”, which is an in office law school being apprenticed by lawyers. For anyone assuming this is the easy way out, it’s not. My weekends are spent away from my kids while I read and study. I work all day, put my kids to bed and spend my nights studying. There are times I feel overwhelmed and when I feel like I can’t do it but I get the pep talks I need from the people around me supporting me. I changed my number last year and disconnected from everyone because I have made this strict commitment to follow a dream of mine – It’s never too late to follow your dreams.
I want to thank Van Jones for believing in me and introducing me to Jessica Jackson. Jessica along with Erin Haney have taken on the role of my mentors and I am forever grateful to them both putting in so much time with me, believing in me and supporting me through this journey. This week I have a big torts essay due on negligence. Wish me luck ???

 

Kim Kardashian opens up on the struggles of studying law and how she balances it all

Kim Kardashian opens up on the struggles of studying law and how she balances it all

 

Tiger Woods completes sports greatest Comeback

Tiger Woods completed a comeback from personal and professional adversity on Sunday, capturing his fifth Masters title and his 15th major tournament with a victory that snapped a decade-long championship drought and instantly returned him to the top of the sports world.

It was a monumental triumph for Woods, a come-from-behind victory for a player who had had so much go wrong on the course and off after his personal life began to come apart on Thanksgiving night in 2009.

As such, it was only fitting that after he walked off the 18th hole on Sunday, his one-stroke victory secure, his path to the official scoring office was gridlocked with well-wishers, including many of the golfers he vanquished over four grueling days at Augusta National Golf Club.

Woods triumphed in almost stoic fashion, playing with shrewdness and determination over the final stretch of holes while the other players who were grouped with him on the leaderboard took turns succumbing to the pressure of trying to win the Masters.

And although Woods did bogey the final hole, he did so with a two-stroke lead, victory in sight and the knowledge that he could give one of those strokes back and still win the tournament.

Only when he tapped in his final putt did Woods let loose with a joyous shout that revealed how much the victory meant to him.

Tiger Woods after winning the Masters

At 43, Woods became the second-oldest winner of the Masters, behind Jack Nicklaus, who won here in 1986 at age 46 and who holds the record for victories in major tournaments, 18. And Woods’s victory immediately reverberated beyond golf and, for that matter, sports.

The win even led to a rare moment of agreement between President Trump and former President Barack Obama. “What a fantastic life comeback for a really great guy!’’ the President said on Twitter. “To come back and win the Masters after all the highs and lows is a testament to excellence, grit and determination,’’ Obama posted.

Manchester United back to winning ways

Manchester United edge over West Ham with two Penalties from Paul Pogba.

Manchester United were victorious against West Ham United in their latest league bout .

Pogba had given the Reds a 19th-minute lead from the penalty spot but former City boss Manuel Pellegrini’s side wouldn’t lie down and came back to level in the second half through Felipe Anderson.

The Hammers almost went ahead, when substitute Mihail Antonio hit the crossbar and was then denied by a world-class save from David De Gea, but fortunately another spot-kick award got United out of jail. After his compatriot Anthony Martial was brought down, Pogba scored again with ten minutes to go to secure three points and keep the Reds on the coat-tails of Chelsea and Spurs.

West Ham had started the game as the more composed of the two sides and the more dangerous.

The Londoners thought they’d taken a 10th-minute lead through Felipe Anderson as he smashed in a Chicharito knockdown from close range. But the goal was quickly cancelled out as the referee’s assistant flagged for offside.

There was naturally disappointment for the visitors but seemingly few complaints at the decision.

The Reds had been getting a few crosses into the box but it always seemed to be the diminutive Juan Mata who was in the prime position, with little chance of connecting. But the service was more to the Spaniard’s liking when Anthony Martial passed to his feet inside the area after 17 minutes. Just as Mata went to strike the ball, he was taken out by a strong challenge from Snodgrass.

Referee Graham Scott had no doubts it was a spot-kick, despite the derision from the Hammers’ travelling support, and Pogba put all his power behind his hit as he beat goalkeeper Lukasz Fabianski with a piledriver virtually down the middle of the goal.

It was just the settler United needed after some difficult early moments. West Ham, though, were not downbeat and still caused the Reds some heart flutters at the back.

It was something of a disappointment that Pogba’s opener did not fire the Reds as expected and there was a fruitless struggle to get a second goal before the break, with only a wild effort from Diogo Dalot and a header from Chris Smalling giving some encouragement for the crowd.

West Ham, fortunately, didn’t produce much themselves with just an off-target swipe from Anderson and then a superb run down the right from the Brazilian that saw his low shot-cum-cross kept out by David De Gea’s outstretched leg.

The Reds were culpable when the West Ham equaliser finally came early in the second half.

Like the first 45 minutes, the visitors began the more confident of the two teams. But when De Gea gathered the ball in the 49th minute, it should have been the start of the Reds launching an attack.

However, the Spaniard bowled out a ball that was too heavy and caught Pogba by surprise. West Ham seized possession and their counter attack ended when Manuel Lanzini floated a cross to the far post and an unmarked Anderson steered home.

Solskjaer’s reaction to the leveller was to bring on Marcus Rashford for Mata in the 55th minute.

The sub’s introduction almost paid immediate dividends and credit to Chris Smalling as he burst forward out of defence to put the striker in with his pass. Rashford thrashed in a low shot that keeper Fabianski couldn’t hold and the ball squirmed away almost across his goalline with the loose ball crying out for a tap-in.

Rashford’s arrival was proving a potential match changer with the Mancunian then heading just over into the Stretford End after 63 minutes as the Reds began to look far more threatening.

The initial spark began to fade and Solskjaer made a double substitution in the 75th minute in a bid to lift his labouring side once again; Mason Greenwood and Andreas came on for Romelu Lukaku and Marcos Rojo.

West Ham boss Manuel Pellegrini made his own changes with Antonio coming on for Chicharito before Solskjaer’s swaps, and then Zabaleta made way for Fredericks.

But it was Antonio who made the biggest impact and rattled the Reds when his scorching shot had the cross bar shuddering and then a header needed a brilliant flip over the bar from De Gea to stop the Hammers going in front.

The double threat woke the hosts up and when Martial was clumsily brought down by Fredericks, the Reds were awarded another penalty.

Pogba versus Fabianski take two ended with the same result as the French midfielder crashed in from 12 yards to seal a much-needed win.

Manchester United are traveling to the camp Nou during the week and this win might as well be a big boost them.

Champions League quarter Finals review

The first leg of the quarter finals have come to an end and it certainly was eventful. I’m going to give y’all a summary of all that happened.

Tottenham vs Manchester City

In a game that was looking like a mismatch on paper was certainly a surprise to everyone as Tottenham came out on top.

The game was Tottenham’s first European game in their new stadium and fans hoped it’ll be a good a game I guess they weren’t disappointed. Manchester City had the opportunity to get ahead when Sergio Aguero had a penalty but Hugo Lloris was up to the task and saved it keeping his team in the game. Both team fired blanks and the game looked like it was headed towards a draw but Hueng min Son scored a goal just before the final whistle to hand Tottenham a 1-0 lead.

Liverpool vs Porto

Porto who qualified by away goals came up against a Dominant Liverpool side and the score went how everyone expected.

With one first half goals from Naby keita and Roberto Firmino respectively. Keita who hasn’t been a regular in the Liverpool squad is beginning to find his stride and making his mark

Ajax Vs Juventus

Ajax who have the youngest side in the competition came up against an experienced Juventus side.

Cristiano Ronaldo came back from the injury he sustained during the euros qualifiers and scored a fantastic header to hand Juve a first half lead over Ajax.

By second Ajax showed their determination and dominated for a better part of the second half and as expected Neres was the one who stepped up and put them level. The Ajax side kept asking questions but the Juventus keeper was up to the task and the game ended draw but Juventus have the advantage due to away goals rule

Manchester United vs Barcelona

This is probably the biggest game of this round due to the history between both teams Since Manchester United Second best to Barcelona in their last encounter.

Barcelona controlled the first half and Manchester United was all over the place it was only a matter of time before a goal would be scored. A header by Luis Suarez made Luke Shaw score a Own Goal and that was the only goal.

We all remember the Tweet from Smalling saying he knows a secret to stop Messi and I guess he showed us what it was.

Will there be shocks in this Round of the Champions League?! We just have to find out

Father finds man, 42, hiding in his closet after he came over to have sex with his 12-year-old daughter

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A father was horrified to find a pervert hiding in his closet after coming over to the house to have sex with his 12-year-old daughter.

The unidentified dad said he found 42-year-old Christopher Todd Leonard (pictured above) shirtless in the closet of his Texas home on November 2, 2018, while getting ready for work around 5.30am.

Leonard, who was not aggressive, told the father that the girl invited him over to their home. He claimed he thought the girl was 21. But the girl said the man was aware of her real age.

According to KPRC, Leonard said he had been talking to the girl through Facebook and Instagram.

The 12-year-old told authorities that she had met Leonard while using public transportation a few weeks prior to the incident. She said he gave her his phone number and they contacted each other through texts and phone calls.

When authorities looked through Leonard’s phone, they also found sexually explicit messages that he had sent to the girl.

The girl’s father told KPRC: “The man literally brainwashed her.

“Knowing this guy could have done something to my daughter and then knowing that I had another daughter that he could have done something to, it really affected me, and my family as well.”

Police has issued a warrant for Leonard’s arrest. He has been charged with online solicitation of a minor.

Kim Kardashian West reveals she’s studying to become a Lawyer, plans on taking the Bar exam in 2022

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Kim Kardashian West, who is Vogue’s May cover star has dropped a major life announcement by revealing she’s studying to become a Lawyer.

She’s currently doing a four-year apprenticeship with a San Francisco law firm and hopes to take the bar exam in 2022.

The mother of three, who has been working with author and CNN commentator Van Jones and attorney Jessica Jackson, cofounders of #cut50, a national bipartisan advocacy group on criminal-justice reform revealed this during her cover interview for this month’s Vogue.

“I had to think long and hard about this,” she said. The choice came from the combination of “seeing a really good result” with Alice Marie Johnson while simultaneously feeling like she couldn’t help enough. “The White House called me to advise to help change the system of clemency, and I’m sitting in the Roosevelt Room with, like, a judge who had sentenced criminals and a lot of really powerful people and I just sat there, like, Oh, shit. I need to know more.

“I would say what I had to say, about the human side and why this is so unfair. But I had attorneys with me who could back that up with all the facts of the case. It’s never one person who gets things done; it’s always a collective of people and I’ve always known my role, but I just felt like I wanted to be able to fight for people who have paid their dues to society. I just felt like the system could be so different, and I wanted to fight to fix it, and if I knew more, I could do more.”

Kim’s decision was inspired by her work helping to free Alice Marie Johnson last year after President Donald Trump commuted her life sentence.

“The White House called me to advise to help change the system of clemency, and I’m sitting in the Roosevelt Room with, like, a judge who had sentenced criminals and a lot of really powerful people and I just sat there, like, Oh, shit. I need to know more,” she told Vogue. “I would say what I had to say, about the human side and why this is so unfair. But I had attorneys with me who could back that up with all the facts of the case. It’s never one person who gets things done; it’s always a collective of people, and I’ve always known my role, but I just felt like I wanted to be able to fight for people who have paid their dues to society. I just felt like the system could be so different, and I wanted to fight to fix it, and if I knew more, I could do more.”

Beware of loans from China – IMF warns Nigeria and other developing countries

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The International Monetary Fund has cautioned Nigeria and other developing countries from taking loans from China due to unfavourable loan conditions.

 

The Financial Counsellor and Director of the Monetary and Capital Markets Department of the IMF, Tobias Adrian, said this on Wednesday during the launch of the Global Financial Stability Report for April 2019 at the IMF/World Bank meetings in Washington D.C.

“Capital flows, which includes capital flows from China, are, of course, important for development. On the other hand, what is very important in lending arrangements are the terms of the loans and we urge countries to make sure that when they borrow from abroad, the terms are favourable. In particular, we recommend that loans to countries should conform with Paris Club arrangements and that is not always the case of loans from China,” Adrian said.

On Nigeria’s rising debt levels, Adrian said that the IMF was not overly concerned, as it would allow the country to invest more in developing critical infrastructure.

 

“At the moment, funding conditions in economies such as Nigeria and other sub-Saharan African countries are very favourable but that may change at some point,” he said. The April 2019 Global Financial Stability Report finds that in spite of significant variability over the past two quarters, financial conditions remained accommodative.

 

As a result, financial vulnerabilities have continued to build in the sovereign, corporate, and non bank financial sectors in several systemically important countries, leading to elevated medium-term risks.  Also, the IMF in the April 2019 Fiscal Monitor Report urged Nigeria to increase Value Added Tax, increase and expand the coverage of excise duties.

 

The IMF commended the country’s latest Strategic Revenue Growth Initiative, which looks at a comprehensive approach to tax reform.