DMO Cautions FG Against Borrowing

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The Debt Management Office has disclosed that it has been difficult for Nigeria to borrow from the international markets as global lenders and investors are shunning countries with Category ‘B’ economic ratings.

According to the Director-General of the DMO, Patience Oniha, Nigeria must gear up its revenue drive while looking for alternative sources of funds internationally.

Oniha noted that the Federal Government had not been able to meet its external borrowing target, adding that it was now looking at lenders in the United States and Europe.

Written by: Helen Obih

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Mondrian Painting Sells for $51m at Auction

A 1930s painting by Piet Mondrian has sold for $51m in a New York auction, a record for the artist's work. The piece was last sold in 1983 for $2.15m, which is equivalent to $6.4m in today's money. The head of impressionist and modern art where the painting was auctioned, described the purchase as a once in a generation occurrence.

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