N2.5TR CONSUMER CREDIT, N17M MAINTENANCE, N30M RANSOM

N2.5tr on Consumer Credit

The fear of decreased consumer spending is another issue. Citizens are realising cash is key in times like this and are withholding it due to their uncertainties about what lies ahead. This gives the government a few transactions to tax. The small and medium scale businesses are practically shut down and cannot generate money. Thus, cannot pay taxes from zero profit. [DATAPHYTE]

N17m  Maintenance 

In this expose, Obasa, through a proxy company, made the state Assembly approve N17m for the maintenance of his personal resident, guesthouse and office. SaharaReporters had previously reported how the Speaker, who has been head of the Assembly since 2015, used his office to approve the sum of N47.5m per quarter from the state treasury for social media influencers.  [SAHARA REPORTERS]

N2.175trn Budget Deficit

The reality of the lockdown has impacted businesses in diverse ways. The uncertainties about the future of business have further compounded the incidence of COVID-19. As it stands, the lockdown has resulted in new realities such as an obvious waste of rent without commensurate income. Productions have halted and inflow distorted. Perhaps, a decline in taste for certain commodities among customers. [DATAPHYTE]

63 Markets

Gov Willie Obiano made this known to newsmen at Aguleri, Anambra East Local Government Area on Monday, after his brief meeting with the 63 market leaders in the state. He said each market should set up a task force that would be trained by the state government on COVID-19 safety compliance principle to achieve greater success to curb the spread of the deadly virus. [THE GUARDIAN]

N30m Ransom  

Suspected abductors of Ekiti State Commissioner for Agriculture, Folorunso Olabode, have demanded N30 million as ransom for his release. It was gathered that they made contact with the family of the commissioner on Monday.[PREMIUM TIMES]

N500b Stimulus Package 

The Senate and the House of Representatives had in March suspended plenary for two weeks in a bid to prevent the spread of coronavirus disease. Both later extended their break in conformity with the lockdown of the Federal Capital Territory (FCT), Lagos and Ogun States directed by President Muhammadu Buhari on March 29. [THE GUARDIAN]