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Remit $5 Form

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welcome to business news I am Yu Aku the international monetary fund IMF has downgraded it Focus for Nigeria's economic growth in 20124 to 3.1% stting weer growth recorded in the first quarter of the year the new forecast was contained in the July 2024 World economic Outlook of the IMF release on Tuesday the N represents 0.2% points below the earlier forecast of 3.3% the downgrade followed weaker than expected gross domestic product GDP and growth recorded by the country in the first quarter of 2023 IMF however retained a 3.0% forecast for Nigeria's economic growth in 2025 the federal government through the office of the accountant general of the Federation has mandated all government own Ministries dep Department agencies to remit 5% retention fee deducted from contractor's payment to the Central Bank of Nigeria a memo signed by the accountant general of the Federation ol to M say the move became necessary following complaints over nonpayment of retention fees

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