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#67 From: Economic Confidential <economicconfidential@...>
Date: Sun Nov 15, 2009 12:52 pm
Subject: Again FG, States Share N354bn as Akunyili Lambasts Educational Sector
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Latest from the factual, authoritative and accessible Economic Confidential (www.economicconfidential.com)
 
Fact and Figures

Again FG, States Share N354bn in November

A total sum of N354.303 billion was distributed among the federal, state and local governments at the monthly meeting of Federation Account Allocation Committee (FAAC) in November 2009, almost similar to that of October 2009... Read

 

Federation Account: How They Share N332bn in October

The Sharing of N27.8bn on Exchange Rate difference in October 2009

 

News features

Madam Rebranding Akunyili Confesses on Deteriorating Educational Sector

According to Professor Akunyili who is the Minister of Information and Communication: “the (academic) environment (today) is so dirty and most times unfit for humans to live. Crowded classrooms, inadequate hostel accommodation, non-existent library services, unfulfilled lecturers, elongation of academic calendars and sessions as a result of consistent strikes, the woes are endless...Read

 

A Nigeria's Graduate in $2.5m Internet Scam ... As Hacker Attacks Police Website

As Nigerian universities are notoriously being on strikes most of the sessions, with some idle students going into prostitution and robbery, their half-baked or unemployed are either into kidnapping or internet scam and other fcriminal activities... Read

 

Amnesty: Barrel of Crude Jumps to 1.84 million... As Koreans Opt Out-of-Court Settlement Over Oil Licence

The Amnesty to Niger Delta Militants which expired on 4th October, 2009 has ushered in the cessation of arms conflict, the wanton destruction of lives and properties and other forms of criminality in the region with recorded improvement in the economic sector and the barrel of crude oil jumping to 1.84 million per day from 1.3 million barrels within the space of time... Read

 

Odey Urges States to Give Attention to Environmental Issues

The Minister of Environment, Mr. John Odey has urged  state Governors all over the country to make the issue of environment a priority in their development agenda...Read

 

Global Economic Crisis an Opportunity to Reposition Nigeria- Minister

The Federal Government has said that the global economic crisis facing the world economy is an opportunity to reposition Nigeria’s economy to meet the challenges and take advantage of the opportunities to address problem at home and internationally... Read

 

More articles and features from the Homepage:

 
Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine


#68 From: Economic Confidential <economicconfidential@...>
Date: Tue Nov 17, 2009 2:05 pm
Subject: Hurray! Nigeria Is No More the Corrupt Nation but....
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Latest from the Economic Confidential (www.economicconfidential.com

 

Hurray… Nigeria is No More the Most Corrupt Nation

For the first time in several years Nigeria is not listed amongst the most corrupt nations in the world having come to somewhat an improved position out of 180 countries in the current assessment of Transparency International’s 2009 Corruption Perceptions Index (CPI), which is a measure of domestic, public sector corruption... Read

 

Table of Clean and Corrupt Nations 2009

New Zealand (1st), Denmark (2nd), Singapore (3rd) Somali (last), Afghanistan (second to the last) and Nigeria (somewhere.... somewhere... neither too good nor too bad)... Click to check the table.

 

More Agitations over New Auditor General ...As Tenure of Acting Incumbent Expires

As lobbyists intensify their agitations to fill the vacant position of Auditor General of the Federation (AUGF), the stage is set for a battle between core civil servants who want due process followed and powerful politicians who believe in favouritism and nepotism to fill the post that has remained vacant but with an acting AUGF since May 2009. It seems to be a do-or-die affairs... Read

 

Nigerian Macroeconomics Improve- Minister ... As Baroness Chalker Commends Amnesty

The Finance Minister, Dr. Mansur Muhtar has disclosed that the Nigerian macroeconomic environment has improved and macroeconomic stability achieved in 2009 due to government’s proactive response to the global economic slowdown and the improved global economic environment... Read

 

Features
You can also read the following Features from the Homepage www.economicconfidential.com

ü  COP 15 Meeting: How Prepared is Nigeria- By Adebayo Thomas

ü  Bridging the Developmental Gap - Remi Babalola

ü  EFCC Wont Bow to Blackmail on Banks -By Femi Babafemi

ü  Africa's Foreign Reserves: Reserve for Who? By Chika Ezeanya

 
And much more in:
 
Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine


#69 From: Economic Confidential <economicconfidential@...>
Date: Mon Nov 30, 2009 12:02 pm
Subject: Still on Tax from Churches, Mosques ...as Amb. Arraigned for Corruption in Naija
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Latest from the authoritative, factual and accessible magazine Economic Confidential www.economicconfidential.com
 

TAX MATTERS

Re: Churches and Mosques Must Pay Taxes

By Dr. John Edemode,

Your publication (Economic Confidential print edition) for the Month of November 2009 p.12 refers. FIRS notes and appreciates your continued partnership and support in its publicity, information, education and sensitization for pro-tax attitude and behavior to Nigerian taxpayers. However, it needs to be pointed out that your caption and the intro as contained in the above story were completely at variance with the direct statements of the Executive Chairman, Federal Inland Revenue Service which you quoted in the body of the report… Read

 

Corruption Index: The Ranking of Nigeria from 1995 – 2009

In the last 15 years of the annual report on Corruption Perception Index by the Transparency International, in three instances Nigeria came last position while in 4 different years it was in  second-to-the-last position. In a table computed by Prof Mobolaji Aluko, a columnist with the Economic Confidential magazine indicates that… See Table.

 

Daring Scammers Forged Senate President’s Cheque … As EFCC Arraigned Nigerian Ambassador on Corruption Charges

The Economic and Financial Crimes Commission, EFCC arraigned three men over the theft and forgery of the Senate President David Mark’s cheque before a Federal Capital Territory High Court presided over by Justice Sunday Aladetoyinbo just as it arraigned a former Nigerian Ambassador to Spain Mamman Yusuf over corrupt practices… Read

 

Prospects For Domestic Petroleum Refining In Nigeria: A Note Of Caution

By Ekpen J. Omonbude, PhD

Recently, there has been an increase in media reports of private investors who have gone as far as having made final investment decisions on the construction or installation of petroleum refineries in Nigeria. While these reports carry varying degrees of validity, they point at what can be argued as a potential emergence of a ‘refining boom’… Read

 

MONETARY

Update on Banking Reforms

In furtherance of the banking reforms exercise aimed at ensuring the stability and soundness of Nigeria’s banking industry, the Central Bank of Nigeria, (CBN), has appointed advisers that will work with the ten deposit money banks - Afribank Plc, Finbank Plc, Intercontinental Bank Plc, Oceanic International Bank Plc, Union Bank of Nigeria Plc, Bank PHB Plc Equatorial Trust Bank Limited and Spring Bank Plc - whose management were recently replaced, as well as Wema Bank Plc and Unity Bank Plc... Read

 

From the Frontpage www.economicconfidential.com, you can read the following:

 

NATIONAL

Love Scam: Australian Victim Receives $9,300 from Unilag Graduate

Nigeria Canvases for Investment in Agriculture

Economists Call for Sincerity on Deregulation

NEMA Graduates Search and Rescue Officers

FG Earmarks N1.5bn for Year 2009 Pest Control Exercise

 

FEATURES

Exchange Programmes By Chinedu Vincent Akuta

The limit of Sanusi’s capitalist reforms By Kola Ibrahim

The Other Side of Recapitalisation By Abubakar Jimoh

 

STATES

Anambra Releases N100m for Laboratories

Kano has highest Allocation for Agriculture

Osun Presents N113bn budget to Legislators

Kaduna Rail Service Commended

Delta to Rehabilitate FG

 

ANNOUNCEMENT: PR Practitioners website: www.prnigeria.net is being redesigned. Visit and dend your views
 
Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine


#70 From: Economic Confidential <economicconfidential@...>
Date: Fri Dec 25, 2009 7:59 pm
Subject: Nabbed ATM Fraudsters Confess... As Atuche Faces 45 Fresh Charges
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Latest from Economic Confidential (www.economicconfidential.com), the authoritative, factual and accessible economic magazine

 

ATM Fraudsters Confess … as Atuche Faces 45 Fresh Charges:After their arrest Nine Automated Teller Machine (ATM), fraudsters who were arraigned on a 22 count charge before Justice Abubakar Talba of the FCT High Court, Gudu Abuja confessed their tactics in defrauding customers to operatives of the Economic and Financial Crimes Commission, EFCC...Read

 

Sao Tome Seeks Fresh Loans from Nigeria: The Prime Minister of Sao Tome and Principe, Dr. Joaquim Rafael Branco has appealed to the Nigerian government to grant his country a concessional loan to meet its obligation... Read

 

FG Repeals Laws That Hamper Private Sector Investments: The Finance Minister of State, Mr. Remi Babalola has disclosed o that policy agenda of the Federal Government would bring succour to the socio-economic crises in the Niger Delta as the government is determined to realise its 7-Point Agenda and the National Vision 20:2020 agenda of positioning Nigeria among the top 20 largest economies in the world... Read

 

Suspension of Mallam Nasir Ahmad El Rufai’s return to Nigeria: By Bar. Bamidele Aturu

A few weeks ago Mallam Nasir El-Rufai made his intention to return to his fatherland, Nigeria , known to the public. His resolve to return remains unchanged given his conviction that in serving this great country as a public officer he committed no offence known to our laws or at all, and that all the charges contrived against him and that are being assembled against him remain hopeless attempts to discredit him and his contributions to civilized governance. These charges, standing on no legs as they are, are bound to collapse in the face of even the most cursory forensic consideration... Read

 

Kano Proposes N110bn for Budget 2010: KANO state governor, Malam Ibrahim Shekarau has presented a proposed budget 2010 to the state House of Assembly totalling N110, 304,351,479 which is made up of a recurrent expenditure of N48, 967,547,508 and a capital expenditure component of N61, 623,803,962.…Read

 

 

And more from the Homepage of:


 
Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine


#71 From: Economic Confidential <economicconfidential@...>
Date: Sun Dec 27, 2009 3:34 pm
Subject: Maryam Babangida is Dead... Govt to Bar Consultants from Core Civil Service
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Latest from Economic Confidential, the authoritative, factual and accessible economic magazine (www.economicconfidential.com)
 
 

Maryam Babangida is Dead: A statement from General Ibrahim Badamasi Babangida’s family announced today that Maryam passed on early this morning at the age of 61, after a protracted illness. The former chairperson of the Better Life for Rural Women during her husband's years in office had been hospitalised at University of California Los Angele's (UCLA) Jonsson Comprehensive Cancer Centre in Los Angeles, United States. She died beside her husband, General Babangida who has been at her bedside in the US hospital till her death. Mrs. Babangida's condition worsened months ago... Read

 

Government to Bar Consultants from Core Civil Service.: Disturbed by the low morale and redundancy in the civil service due to incursion of consultants who have virtually taken over some of the responsibilities of civil servants in programmes execution, the government at federal and state levels would soon bar consultants from projects that could easily be implemented in the public service...Read

 

HOS Warns Against Bids Padding by Insurance Firms: The Head of the Civil Service of the Federation, Mr. Stephen Oronsaye, has has warned insurance companies to submit realistic bids that are not padded for payment of bribery and gratifications to any government official. He spoke through Barrister Danladi Kifasi, Permanent Secretary, Ministry of Youth...Read

  

2011 Election: Nigerian Women Insists on 40% Representation or Nothing: Ahead of the 2011 general elections, Nigerian women have insisted on 40 percent representation in political positions in government houses, ministerial appointments and legislative houses... Read


 
Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine


#72 From: Economic Confidential <economicconfidential@...>
Date: Mon Jan 4, 2010 11:34 am
Subject: N346bn Scandal: Details of Akingbola Worldwide Assets to be Frozen... And Still on Mutallab of Nigeria
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Latest News and Features from the Redesigned website of the Economic Confidential magazine: www.economicconfidential.com
 

N346bn Scandal: Details of Akingbola’s Worldwide Assets to be Frozen…Include Properties in Lagos, Ghana, Dubai, London and various shares: After paying over £9.8million Pound Sterling to his English solicitors, the former Managing Director of Intercontinental Bank Plc, Dr, Erastus Akingbola is in fresh financial dilemma as a Federal High Court granted a Mareva injunction on his worldwide assets for total offences amounting to the tune of N346 billion and over 1 million GBP Sterling…Read and see some of the assets

 

In Defence of Abdul Mutallab of Nigeria – A Response to MEND: One of the organisations that shamelessly coloured the incident with sectional and religious undertone was the Movement for the Emancipation of the Niger Delta (MEND), whose official statement on the suspect was to urge governments around the world to pay more attention to northern Nigeria, claiming that the region is a threat to world peace and "fertile ground" for international terrorism. They also provoke ember of hatred by insinuating that…Read

 

Jimoh Ibrahim to Acquire Oil Licence and University in Sao Tome: The Chairman of NICON and Global fleet Group of Companies, Barrister Jimoh Ibrahim has indicated the interest of his organisation to acquire Oil and Gas Licence and establish a private University in the Republic of Sao Tome and Principe. He also announced the commencement of NICON Insurance operation in its new branch in that country… Read

 

State News listed below can be accessed from this LINK

Kano Proposes N110bn for Budget 2010

Kaduna Proposes N196.7bn for 2010 Budget

Yobe Proposes N62.42b for 2010 Budget

Osun Assembly Approves 2010 Budget

Anambra Proposes N67 Billion for 2010 Budget

 

Feature articles listed below can be accessed from this LINK

Erastus Akingbola: A Drowning Man?

In Defence of the Vice-President, in the Failure of the President Doing the Right Thing

Addressing Distress in the Banking sector

Micro Financing in Nigeria: A Dire Need for “Sanusitization”

Introducing Home Makers

 

Your New Website

The new website of the Economic Confidential provides platform for members and comments on all issues. You can also use our Search Engine to search for stories and features we have published. We thank you for being with us in the last three years of our existence as factual, authoritative and accessible economic magazine.


 
Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine


#73 From: Economic Confidential <economicconfidential@...>
Date: Mon Jan 11, 2010 7:30 pm
Subject: President Yar'Adua is Alive and Talking
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Latest from the Economic Confidential (www.economicconfidential.com), the Factual, authoritative and Accessible economic magazine.
 

President Yar’Adua is Alive: Against the background of rumours on the purported death of President Umaru Musa Yar’Adua in King Faisal Specialist Hospital in Saudia Arabia where he had gone for treatment, his spokesperson and Senior Special Adviser on Communication, Mr. Olusegun Adeniyi has denied the speculations saying that the president is alive and has been talking to some people…Read

 

How we Intercept Scam Mails worth Billions of Naira- NIPOST Boss: The Postmaster General of Nigerian Postal Service, Mr. Ibrahim Mori Baba has disclosed the efforts of his agency to tackle the menace of fraudsters who use postal/courier services to execute their nefarious activities. He also tells the Economic Confidential the NIPOST’s commitment to regain public confidence on postal service… Read

 

CBN Appoints New Executive Directors For Three Banks: The Central Bank of Nigeria has announced the appointment of new Executive Directors for Bank PHB, Spring Bank Plc and Equitorial Trust Bank Limited respectively. The announcement which was made by the spokesperson of the bank, Mr. Mohammed Abdullahi said the appointment followed the removal of the CEO’s of the affected banks and their replacement with new ones. .. Read

 

 

You can read more in our Sections.

 

www.economicconfidential.com

 

 
Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine


#74 From: Economic Confidential <economicconfidential@...>
Date: Wed Jan 20, 2010 9:23 am
Subject: 10 Year Tenure: Banks' CEOs to Go... as Dangote Pays $1.27bn to 10 Banks
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Latest from your authoritative, factual and accessible Economic Confidential (www.economicconfidential.com) Please click on Read at the bottom of the briefs to read full details:

 

10 Year Tenure: Banks’ MDs to Go in July 2010 -CBNBanks to Negotiate Sales with Foreign Investors: The Board of the Central Bank of Nigeria has finally fixed a maximum tenure of ten years for Managing Directors and Chief Executive Officers of banks in Nigeria. This new decision came as CBN hands off the negotiation and sales of the eight rescued banks to the banks management and boards who could negotiate, where desirable, with new foreign investors. …Read

 

Dangote Liquidates $1.27bn Loans in 10 banks: The President Dangote Group of Companies, Alhaji Aliko Dangote has liquidated a $1.27 billion loan facility he took on behalf of his organisation from a consortium of 10 Nigerian banks in May 2008 to finance its cement division’s expansion projects five years ahead of schedule. The banks involved in the loan syndication were Access Bank, Afribank, Bank PHB, FCMB, Fidelity Bank, First Bank, Guaranty Trust Bank, Stanbic IBTC, United Bank for Africa, and Zenith Bank. …Read

 

Oil Communities to Own Petroleum Assets: The Minister of State for Petroleum Resources, H. Odein Ajumogobia has lauded the federal government for taking a bold step towards involving the oil producing communities in the ownership structure of Nigeria’s petroleum assets. He stated this at the inaugural meeting of the Presidential Committee On he Modalities for the Involvement of Host Communities in the Ownership Of Petroleum Assets In Nigeria. …Read

 

After Universities, Pay Rise for Polytechnics and COE: The Federal Government has re-affirmed its promise to amicably resolve the demand for pay rise by Unions in Polytechnics and Colleges of Education sub-sector without discrimination. This is as it assures that the same principles used in fixing the new pay package for University Unions will be adopted. …Read

 

Infrastructure Concession to Create More Employment – VP Jonathan: The key element of Federal Government’s concession of infrastructure is to create employment to the teeming youth in the country. VP Jonathan while receiving 2009 Report on the activities of the Infrastructure Concession Regulatory Commission said “that government is not only interested in managing its assets well but the main issue of the concession is to create employment opportunities for Nigerians”. …Read

 

Federation Account: Beneficiaries Received N4.17tr and $5.5bn in 2009: The sum of N4.174 trillion and $5.5 billion were distributed from the Federation Account and Foreign Excess Crude Account respectively among the three tiers of government in 2009. Last year’s release from the Federation Account was the highest injection into the system within a fiscal year in the last 10 years. …Read

 

Policing Our Budgets: However, let me remind Nigerians not to get too distracted by Farouk Abdulmutallab’s incident and President Yar’Adua’s sickness. Let us keep one eye on the yearly budgets which various states in Nigeria are announcing. Ebonyi State announced a budget proposal of N72.6 billion; Ogun State announced a budget of N100.7 billion. Kano proposed N110bn for their budget, Kaduna proposed N196.7bn for 2010 budget, Yobe planned N62.42b for 2010 budget, and Anambra proposed N67 billion for 2010 budget…Read

 

Read more from: 


 
Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine


#75 From: Economic Confidential <economicconfidential@...>
Date: Tue Jan 26, 2010 9:06 am
Subject: New Bank MDs, Ibru's Assets and MDGs' Billions on Projects Revealed
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The latest from your Factual, Authoritative and Accessible Economic Confidential magazine www.economicconfidential.com. Click on 'Read' under each summary to read the full detail

 

Zenith Names Godwin Emefiele as MD/CEO Designate: The Board of Zenith Bank Plc has announced the appointment of Godwin Emefiele as Managing Director/Chief Executive Officer designate of the Bank. The appointment, which is subject to Central Bank of Nigeria (CBN) confirmation, takes effect from August 1, 2010. This is coming few days after the Board of United Bank for Africa Plc appointed Mr. Phillips Oduoza, Deputy Managing Director overseeing its operations in the South as CEO designate of UBA... Read

 

Nigeria MDGs: How We Channel Billions of Naira on 8 Goals: In this an exclusive interview with Economic Confidential, the Senior Special Assistant to the President on the Millennium Development Goals (MDGs), Mrs. Amina Mohammed Az-Zubair talks about the MDG projects in Nigeria, her relation with federal legislators, states and the amount of fund expended on the programme. She also gives reason for rejecting some appointment including ministerial positions for her passion. Born of a Nigerian father from Gombe State and a British mother from Wales, sh... Read 

 

Details of Cecilia Ibru’s N400bn Assets: Before she was sacked from office as the Managing Director of Oceanic Bank Plc by the Central Bank of Nigeria (CBN), Mrs. Cecilia Ibru was referred to as the First Lady of Banking in Nigeria and regarded as one of the most influential and powerful businesswomen in Africa. But only very few would agree that she had assets and shares worth over N400billion.... Read

 

Farida Waziri dares Fraudsters and Economic Criminals in 2010As EFCC Arraigns 5 suspects over Visa Scam: Chairman of the Economic and Financial Crimes Commission, EFCC, Mrs Farida Waziri has reiterated her resolve to step on more toes and crush more legs this year just as the agency arraigns 5 suspects over UK Visa scam. ... Read 

 

BPE Extends Deadline for Proposals on NITEL/MTEL: The deadline for the submission of technical and financial proposals for the privatization of Nigerian Telecommunications Plc (NITEL) and its mobile arm, M-tel, has been extended from Friday, January 22, 2010 to Friday, February 5, 2010. ... Read

 

China Grants Nigeria $500M Loan for Kano-Lagos Railway:A special delegation from the Chinese government led by Deputy Chief Inspector of China EXIM Bank - Mr Yi Zong Hua, has promised that the team will work assiduously with its Nigerian counterpart towards ensuring that the Concessional loan to the tune of $500 million loan is drawdown to enable Kano-Lagos Railway project to take-off by February 2010.... Read

 

Oil Communities to Own Petroleum Assets: Federal government has taken a bold step towards involving the oil producing communities in the ownership structure of Nigeria’s petroleum assets. A Presidential Committee On he Modalities for the Involvement of Host Communities in the Ownership of Petroleum Assets in Nigeria has been inaugurated to work out the modalities…... Read

 

DMO Resumes Monthly Auctions, Offers N75bn FGN Bonds: The Debt Management Office (DMO) has resumed its monthly bond auctions, offering a total of N75billion FGN bonds, made up of N20billion for the 3-year tenor, N25billion for the 10-year tenor and N30billion for the 20-year tenors.   A statement issued over the weekend by the DMO stated that the variety of the tenors on offer, namely 3, 10 and 20 years, was to give investors the opportunity to choose the bond(s) most suitable to their needs and investment objectives. ... Read

 

Go to the Homepage to read more or search for articles. You can even make comments.

 
Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine


#76 From: Economic Confidential <economicconfidential@...>
Date: Thu Feb 4, 2010 12:22 pm
Subject: Nigeria's Oil Reserve to Dry in 2040 as FAAC shares N386bn in Jan 2010
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Latest from the Authoritative, Factual and Accessible Economic Magazine Economic Confidential. Just visit www.economicconfidential.com

 

 

Nigeria’s Oil Reserve to Dry in 2040: The oil reserves in the Niger Delta currently at 31 billion barrels will dry and disappear by the year 2040. Activities of militant groups in the region, ineptitude leadership and rapid depletion of ore, a major component for the exploration are contributory factors that may see the end of Nigeria’s oil. Regulatory and monitoring organs in the country including the Nigeria National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR) and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) are concerned about the development… Read

 

Federation Account:  How They Share N386bn in January 2010: As part of the two allocations at the meeting of the Federation Account Allocation Committee (FAAC) in January 2010, the Economic Confidential magazine provides here the distribution of a total sum of N386 billion being the Statutory and VAT allocations shared to all tiers of government. From the total disbursement of nets after deductions, the highest recipients are Akwa Ibom which received N10.08bn, Rivers N10.02bn, Lagos N9.1bn, Delta N8.96bn, Kano N6.4bn. The lowest recipients are…Read


N8.2bn Power Scam: Elumelu, Owan, Others in Courts: The Economic and Financial Crimes Commission (EFCC) has taken federal lawmakers, including Hon. Ndudi Elumelu and suspended Chairman of the Nigeria Electricity Regulatory Commission (NERC) Dr. Ransome Owan to Federal High Court, Abuja on frauds involving N5.2bn and N3bn respectively and on separate cases… Read

 

FEC Approves New Tax Policy: The Federal Executive Council (FEC) has approved a new National Tax Policy (NTP) proposed by the Federal Ministry of Finance, which seeks to provide a set of guideline, rules and modus operandi that will regulate Nigeria’s tax system.The document will soon be presented to the national Economic Council (NEC)… Read

 

China Grants Nigeria $500M Loan for Kano-Lagos Railway: A special delegation from the Chinese government led by Deputy Chief Inspector of China EXIM Bank - Mr Yi Zong Hua, has promised that the team will work assiduously with its Nigerian counterpart towards ensuring that the Concessional loan to the tune of $500 million loan is drawdown to enable Kano-Lagos Railway project to take-off by February 2010…Read

 

BPE Extends Deadline for Proposals on NITEL/MTEL: The deadline for the submission of technical and financial proposals for the privatization of Nigerian Telecommunications Plc (NITEL) and its mobile arm, M-tel, has been extended from Friday, January 22, 2010 to Friday, February 5, 2010…Read

 

RE- Alleged Limit to Loan Approval and 5% Equity Holding in Banks: The CBN does not intend to limit the percentage of shareholding of investors in Nigerian banks as this will not only negate the provisions of the Banks and OtherFinancial Institutions Act, 1991 as amended but also the Nigerian Enterprises Promotion Act which encourages unfettered participation of both local and foreign investors in all Nigerian enterprises, including the banking sector…Read

 

A Call on International Bodies to Investigate Jos Violence

It is sad that yet another dastardly orgy of violence erupted in the erstwhile peaceful city of Jos, Plateau State causing the death of hundreds of Nigerians. Clashes between Christian and Muslim, indigenes and non-indigenes mobs reignited in Jos on Sunday morning, January 17, 2010. An exact toll is not known but overall more than one thousand (1000) people are thought to have died… Read

 

Features:

Read the following articles from this link: Features

Uzoma Okere: N100 Million Reward for Military Brutality

Thinking about New Decoration and Furnishing?

Reviewing Impacts of MDGs in Nigeria

Bogus Liberalisation and Capital Flight

Understanding Islamic Banking System

Anambra Soludo is Your Ijele

 

State News:

Read the following news from this link: States

Yobe to Get N400m for desert control in Yobe

Ekiti Warns Civil Servants Against Stealing

Kano to Establish N1bn fish market

Enugu Budgets N150mn for Rural Mobility

Nasarawa to construct 5-Star hotel


For more just visit and search:


Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine




#77 From: Economic Confidential <economicconfidential@...>
Date: Tue Feb 9, 2010 12:39 pm
Subject: Yar'Adua Disburses $13bn ... Acting President Jonathan Receives New Envoys
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Latest from factual and authoritative economic magazine from Nigeria

The Economic Confidential magazine is now on the FACEBOOK. You can be a Friend or Fan

YarÁdua's Administration Disburses $13bn from Excess Crude Account.. Excess Crude Reduces to $6.2bn from $20bn: In its efforts to satisfy all the tiers of government, the administration of President Umaru Musa YarÁdua disbursed over US$13billion from Excess Crude Proceeds Account and increased allocations from the Federation Account in 2009… Read

Nigeria will be a Leading Economy in 10years – Minister of Planning:
In an exclusive interview with the Economic confidential, Dr Shamsudeen Usman, Minister of National Planning said that Nigerians must believe in their capabilities as a people. “The problems of power failure, corruption and kidnapping are inherent no doubt. However, the fight against the cankerworm is on-going.”There is a Vision, a rallying call for the citizens, regardless of ethnicity, economic status, or religion to unite and stand behind a common cause of placing the country firmly on a path of sustainable growth, and taking it to its rightful place in the comity of nations.”… Read

Acting President Jonathan Receives 4 New Envoys … As Minister Invites Japan to Invest in Nigeria: The Nigeria’s Vice President, Dr Goodluck Ebele Jonathan who is Acting President of the country, in the absence of his ailing boss, Umaru musa YarÁdua, has started to receive letters of credence from new envoys to Nigeria… Read

Power Failure: Nigeria to Go for Solar and Wind Energy: … Generates only 2,700 Mega Watts: The government has stated it is working towards the diversification of power generation beyond thermal and hydro power stations to include other sources of energy including coal, wind and solar, in order to improve power supply in the country… Read

Skye Bank Get new CEO Designate: The Board of Directors of Skye Bank Plc has appointed the Deputy Managing Director of the bank, Kehinde Durosinmi-Etti, as the Group Managing Director designate. He will succeed the incumbent Chief Executive Officer (CEO), Akinsola Akinfemiwa, who will retire at the end of July, following the Central Bank of Nigeria’s directive… Read

Nigeria the Paradox: Nigeria the Paradox! So enviably endowed with great human and natural resources, but yet so beleaguered in its efforts to attain a liveable standard of socioeconomic development and political stability… Read

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Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine



#78 From: Economic Confidential <economicconfidential@...>
Date: Wed Feb 17, 2010 9:07 am
Subject: Jonathan's New Perm Secs and Ministries, Ojerinde now IAEA Boss
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Jonathan’s New Perm Secs and Ministries: The Acting President, Commander-in-Chief of the Armed Forces of Nigeria, Dr. Goodluck Jonathan has approved the posting and redeployment of Federal Permanent Secretaries in Federal Ministries, Departments and Agencies. …See the List

 

Nigeria Demands a Review of World Bank Road Programmes: The Minister of Works, Housing and Urban Development, Dr. Hassan Muhammad Lawal, has urged for a review of the procedures and policies on various road projects under the World Bank Road Assisted Programmes … Read

 

Ojerinde Elected President of IAEA: Professor ‘Dibu Ojerinde, the Registrar and Chief Executive of the Joint Admissions and Matriculation Board has been elected the President of the International Association for Educational Assessment; the world body for examination  and associated organizations. … Read

 

FG Disburses N329.706Bn from the Federation Account in February: The Three tiers of the Government in Nigeria have shared the total sum of N329.706 billion from the Federation Account for the month of January shared in February, 2010. … Read

 

Hospital Patients Can Now Report to Minister Directly: Henceforth, patients attending Federal Government Hospitals can now report or complain on the services directly to the Minister of Health through SMS. The Minister, Prof. Babatunde Osotimehin who disclosed this development at the launch of Patients’ Feedback Platform with the generic shortcode 30500. … Read

 

Stakeholders Endorse Kano Economic Blueprint: Over 500 stakeholders drawn from all socio-political spheres unanimously endorsed an economic blueprint designed by Shekarau administration to reposition the economic and commercial sectors of the state. … Read

 

Nigeria to Have Reduced Emission Project: Nigeria will soon have the first project on Reduced Emissions from Deforestation and Degradation (REDD) in West Africa to be established in Cross Rivers State. The project has been registered as a Clean Development Mechanism (CDM). … Read

 

FG Inaugurates Oil and Gas Asset Protection Sub-Committee: The Federal Government has raised a 17-man Sub-Committee for the protection of oil and gas assets within the Niger Delta region, to consolidate the gains realised through its Amnesty programme. The Committee is being headed by the Minister of Petroleum Resources, Dr. Rilwanu Lukman. ... Read

 

Online Propaganda and Social media: The real bad news is that the next World War will not be fought with conventional armaments, but through the social media. The social media has uplifted propaganda, another tool of public relations to another level. Even in Nigeria, a country notorious for sectional infighting, parties in conflicts are using online platform to promote themselves and destroyed their opponents with malicious and some libellous campaigns. ...Read

 

Still on the Conditional Grants Scheme of MDGs in Nigeria: Funds for the Conditional Grants Scheme were first allocated under the 2007 budget, where they were focused on the health, water and power sectors. ...Read


FG Repositions Staff Housing Loans Board: The Federal Government has repositioned the Staff Housing Loans Board in order to make it more effective and achieve its mandate of assisting civil servants to own houses. ...Read

 

Banking Sector Reforms: CBN Gets Finance Ministry Full Backing: The Federal Ministry of Finance has expressed its full support for the ongoing banking sector reforms by the Central Bank of Nigeria (CBN) towards ensuring stability in the sector and the economy. ...Read

 
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#79 From: Economic Confidential <economicconfidential@...>
Date: Mon Mar 1, 2010 8:30 am
Subject: Janathan May Sack Northern Generals as EFCC Arrests Ghaanaians
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Jonathan May Sack Northern Military Generals: Any moment from now the acting President of Nigeria and Commander-in-Chief, Dr. Goodluck Jonathan may succumb to pressure into sacking some top military and intelligent officers from Northern Nigeria through a deliberate smear campaign on suspicious disloyalty. According to the finding of the Economic Confidential, the pressure is being mounted by powerful groups of politicians and ethnic leaders from the South through some selected media and blog outlets... Read

 

EFCC Arraigns Ghanaians other Over Oil Bunkering: No fewer than two Galthanaians and 15 others were arraigned before a federal high court in Asaba, Delta state by the Economic and Financial Crimes Commission, EFCC over illegal oil bunkering.  The two Ghanaians are Owusu Kwaku and Joseph Akwa Koffi.  Read

 

FG to Implement Amnesty Programme in Full- Odey: The Federal Government has reiterated its determination to vigorously pursue its amnesty programme to the letter.  The Minister for Environment, Mr. John Odey stated this in his remarks at the inauguration of a Non Governmental Organisation (NGO) Green Economics Nigeria in Abuja. Noting the challenges presently being experienced   on the rehabilitation of the militants, Odey assured that Government is committed to the implementation of the Niger Delta Regional Master Plan... Read

 

Names of Chairmen and Members of  8 Tax tribunals in Nigeria: The Finance Minister, Dr. Mansur Muhtar has inaugurated eight tax administrative tribunals to handle tax dispute in the country. The tribunals are to be situated in the six geopolitical zones of the federation and one each in former capital of Nigeria Lagos and the Federal Capital Territory Abuja. Each of the tribunals has a chairman and four commissioners. Please see the names of the chairmen and members of the tribunal ...Here


The Paradox of a Nation: A Social-Economic Perspective  By Remi Babalola:
We are all involved, as stakeholders, in Corporate Nigeria.  Our political framework, though nascent and fragile, is getting embedded for the first time and the cost is affordable by us as a nation. Whatever motivations we require to confront the perceived inefficiencies in our polity, the solutions are the same.  All that is needed is positive action.  Therefore, everybody’s feelings and opinions are equally important... Read
 

The Born Again Farouk Muttalab and World Peace By Les Leba: This column will take a break from its characteristic advocacy on the national economy and instead review the case of the young Nigerian, Farouk Muttalab who is currently facing trial in the United States for his failed attempt to blow up a US bound Trans Atlantic Aircraft flight on Christmas eve last year!... Read

 

American Plans to Takeover Nigeria By By McDonald Koiki:   An American anti-tax protester crashed his plane into a seven storey building in Texas on Thursday 18th February 2010; the building which accommodates office of the US Internal Revenue Service (IRS) was set on fire by the plane crash after the pilot had set his own house on fire earlier that morning and publishing a rambling suicide manifesto on the internet...Read

 

Strategic Economic Plans and Growth Indices in Nigeria By Salim Salihu Muhammed: Several ten-year plans did not take up the full period of time assigned to them (Almost, if not all failed and were abandoned). Although, it could be seen that Nigeria’s economic plans didn’t actually fail, the nation had only succeeded in finding a million ways that didn’t work. In USSR, the initial five-year plans were created to serve in the rapid industrialization of the Soviet Union, and thus placed a major focus on heavy industry… Read

 

Operating a Small Business from Home By Sikrat Yushau: Starting a small business from home is another way for business beginners, especially fulltime housewives to make some saving and supplement some costs of domestic consumption... Read

 

Cross River Agency Appeals for Emergency Supports: The Director-General, Cross River State Emergency Management Agency, Mr. Vincent Aquah, MON has appealed to ecological experts in the Country to rally around relevant authorities to plan for possible disasters associated with wind, rain, thunder and lightening.The Director-General made the call while presenting relief materials to victims of flood and windstorm disasters in Adim, Obum and Agwagune communities in Biase Local Government Area… Read

 

How Economic Globalization Hurts Africa’s Development By Abubakar Jimoh: … The impact of economic globalization could be felt in different parts of the world either positively, as in the case of developed societies or negatively, as evident in developing or third world nations – most African countries fall within this category… Read


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#80 From: Economic Confidential <economicconfidential@...>
Date: Tue Mar 23, 2010 12:59 pm
Subject: Dollar Rains: Ag. Pres Jonathan Releases $4.8bn from FECA to States
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Dollar Rains: How FG, States Share $4.8bn from FECA in March 2010: The Ag. President Goodluck Jonathan has approved the release of $4.8bn from Foreign Excess Crude Account (FECA) apart from N383bn from FAAC in March 2010 for 3 tiers. The Economic Confidential magazine can authoritatively reveal that out of the amount oil producing states received the highest figures with Akwa Ibom taking $239mn, Rivers $220mn, Delta $211mn and Bayelsa $107mn. The lowest recipients are non-oil producing states which include Ebonyi $39mn, Nasarawa $$40.6mn, Gombe 40.7mn and Ekiti $41.3mn. See the full details and table…Read

 

Survey on Recent CBN Reform Programmes: The Central Bank of Nigeria recently unveiled the next phase of banking reforms which are targeted at enhancing the quality of banks, establishing financial stability, enabling healthy financial sector evolution and ensuring meaningful...Read

 

Attack on Website after Reporting Jonathan and Northern Military Generals: Few days after this publication, the website of the magazine www.economicconfidential.com was hacked and most of the contents from December 2009 to first week of March 2010 were removed. Luckily enough, we were able to, after some maintenance, refresh and update the site from our back-up files although most of the comments from readers could not be restored... Read

 

Fraudster Demands $2mn from Ibru as EFCC Seals Atuche’s Assets: The Economic and Financial Crimes Commission, EFCC has told an FCT high court in Abuja how a fake official of the anti-graft agency who was recently arrested and arraigned approached a former CEO of Oceanic International Bank Plc, Mrs Cecilia Ibru to extort two million dollars ($2million) from her... Read

 

Private Universities to Smile as NDIC Spends N500mn on Education: The Nigeria Deposit Insurance Corporation (NDIC) has committed the sum of N464 million for education project funding scheme in Nigeria’s institutions of higher learning as part of the Corporation’s contribution to education and may soon extend the gesture to privately owned institutions in the country... Read

 

Oil in the North:The search of a generation: Scientific studies have shown evidence of huge deposits of hydrocarbon in the Benue trough and the far north east of the country but almost 20 years after this discovery,  exploration had shown a minimal presence of crude oil as against gas... Read

 

If President Yar’Adua Doesn’t Die: The above headline is not intended to play pun or be mischievous but rather is a response to worrisome feelings amongst Nigerians on the plight of President Umaru Musa Yar’Adua over the sensationalism making the rounds on his ill health. The debate over his purported ill-health overshadowed all other critical socioeconomic matters taking place in the country... Read

 

Should Goodluck Lose His Goodwill? Nigerian Acting President, Goodluck Jonathan currently enjoys an impressive level of goodwill both internationally and internally amongst Nigerians. Citizens and internationals across board have in their majority given their support and backing to a man who seems to have all the favour in the world working for him... Read

 

JIMOH IBRAHIM: The enigma at 43: Jimoh, or Araba as his friends fondly call him (derived from his chieftaincy title as the Araba Nla of Ikale-land), is different things to different people. He is such an enigma that even people who have never come into contact with him talk as if they can write a whole chapter on him. But everyone agrees at least that here is a hugely successful young man with an un-usual rags-to-riches story... Read

 

There are more stories in our different sections:

Monetary

National

States

Features


 
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#81 From: Economic Confidential <economicconfidential@...>
Date: Wed Mar 24, 2010 7:11 pm
Subject: 33 Ministerial nominees: Shamsudeen, Akunyili Make it
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The Official list of Ministerial Nominees

The Acting President Goodluck Jonathan has actually sent a List of 33 Ministerial nominees to the Senate that include 9 for reappointments as ministers while 24 are fresh candidates. The nominees for reappointments include: Former Minister of Finance and National Planning, Dr. Shamsudeen Usman, Former Minister of Information, Prof. Dora Akunyili, Former Minister of Youths, Senator Akinlabi Olasunkanmi, Former Minister of Justice, Adetunbo Kayode from Ondo Former Minister of Transports and Mrs. Dezeani Allison Madukwe. See the entire list of the nominees and their states of origin from: The 33 First Batch of Ministerial Nominees


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#82 From: Economic Confidential <economicconfidential@...>
Date: Wed Mar 31, 2010 11:32 am
Subject: Oil Sector: NEITI Exposes Nnpc , Dpr, Cbn also Firs, Agf Disagree on Epayment
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Oil Sector: NEITI Exposes NNPC, DPR, NDDC, CBN: The Nigeria Extractive Industries Transparency Initiative (NEITI) has officially released its Report on 2005 Audits on the extractive industries in Nigeria indicting Nigerian National Petroleum Corporation, Central Bank of Nigeria (CBN) and Niger Delta Development Commission (NDDC) just as it discloses that Nigeria’s oil production is still unknown… Read

 

FIRS, AGF Disagree Over E-payment System… Banks Accused of Diversions of Funds: The Executive Chairman of Federal Inland Revenue Service (FIRS), Mrs. Ifueko Omoigui Okauru and Accountant general of the Federation Ibrahim Dankwambo have disagreed over the success of e-payment system in the country. While FIRS accused banks of slowing down the process of prompt remittance of funds, the Office of the AGF believe the e-payment has achieved some levels of success within the federal system. … Read

 

CBN Signs Strategic Partnership with Malaysian Central Bank: The Central Bank of Nigeria and Bank Negara Malaysia (Central Bank of Malaysia) signed a memorandum of understanding to share expertise and exchange relevant information in the areas of Banking Supervision, Small and Medium Enterprises (SMEs), Microfinance, Islamic Finance, Monetary Policy, Development Finance Institutions, External Reserve Management, institutional arrangement for financial crisis management and resolution, Foreign Exchange Administration, Performance Management and Corporate Strategy, Leadership Development and Talent Management. … Read

 

Boost: ZENITH Bank Gross Earnings Up N277bn: The Zenith Bank Group, despite the impacts of the global economic meltdown, has recorded gross revenue of N277.3 billion during its reporting period ended December 31, 2009, a jump of 31% over the N211.64billion it achieved the previous year. … Read


 

FEATURES: The following features  from this Link

Budget 2010: “Mugu” Smiles Back Into Debt Trap!

Adopting the Chinese Reform for Nigeria’s Economic Revival

Thailand: Protest(s) Capital of Third World Countries

China-Nigeria Relations and Timely Economic Goals

Oil in the north:The search of a generation


More Stories

Former Oyo Governor Ladoja Loses Bid to Stop EFCC Trial

Over 125 Microfinance Banks to begin e-Payment on Remita



For more latest and the list of Ministers and portfolios, just visit the website
 
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Factual, Authoritative and Accesible
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#83 From: Economic Confidential <economicconfidential@...>
Date: Tue Apr 6, 2010 6:21 pm
Subject: New Ministers'Portfolio, States of Origin and Ribadu's story
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Latest from the Factual, Authoritative and Accessible economic Confidential magazine www.economicconfidential.com. Dont forget you may join us on the Facebook. just click on this: Friend.
 
New Ministers' portfolios and their states: The acting President Goodluck Jonathan has inaugurated the new ministers with their portfolios. While some of the returned ministers retain their former office like Dora Akunyili, Shamsudeen Usman, Akinlabi Olasunkami and Remi Babalola, others have been assigned to new beats. The Economic Confidential provides the Ministers' Portfolios and their states of Origin in the table from this link: New Ministers and States.

How Jonathan Withdraws the Case Against Ribadu: Probably you havent read the original story broken by the Economic Confidential last week on the charges against former EFCC boss, Mal Nuhu Ribadu which were withdrawn by the administration of Acting president Goodluck Jonathan. The story is still fresh. You can read from this: Jonathan Withdraws Charges Against Ribadu

Crises in the oil Sector
More detail on the crises in the oil sector soon from the Economic Confidential website also include the Exclusive Interview with Executive secretary of NEITI. Watch out for More.
 
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#84 From: Economic Confidential <economicconfidential@...>
Date: Mon Apr 12, 2010 9:06 am
Subject: Profile of New GMD NNPC and the Nigeria's Ignorance on Oil-Output
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Latest from the Factual, Authoritative and Accessible economic Confidential magazine www.economicconfidential.com. Dont forget you may follow or join us on the Facebook. just click on this: Friend.

Shehu Ladan: The Return of an Insider to Head NNPC: The new Group Managing Director (GMD) of Nigeria National Petroleum Corporation (NNPC), Bar. Shehu Ladan is widely regarded as a professional lawyer, philanthropist and oil and gas management strategist. The Economic Confidential gathered that before Barkindo’s removal from the helm of affairs at the NNPC, Acting President Goodluck Jonathan had searched for a right person who will implement the administration's reforms and vision of transforming the NNPC into a global brand and key player in the world’s oil and gas sector. Read

Nigeria doesn’t know Exact Oil Productions – NEITI Boss: Before the recent removal of the Group Managing Director of Nigerian National Petroleum Corporation, Mohammed Barkindo, the Economic Confidential magazine was granted an exclusive interview by the Executive Secretary of NEITI, Haruna Yunusa Sa'eed. In this interview, the NEITI Boss talks on lapses in the oil sector, unequal data from the oil firms, colossal loss of revenue, the effect on the derivation and the place of solid mineral producing states in revenue sharing. Read

CAC’s 4-Point Agenda and Mobile Business Solution: The Corporate Affairs Commission as a body charged with the responsibility of regulating the formation and management of companies in Nigeria has come up with a 4-Point Reform Agenda to reposition its service and meet the challenge of fast evolving information technology. Read

Editor's Suite: Behold, Ritual 2010: The federal budget was passed last week; and it only had perfunctory mention in the news media. Some newspapers overlooked it entirely, while the majority of those which gave it attention merely tucked it in one obscure part of their front pages or elsewhere. Think of the past when a passage of federal budget was dominant news of the day. Read

FIRS, AGF Disagree Over E-payment System,  As Banks Accused of Diversions of Funds: The Executive Chairman of Federal Inland Revenue Service (FIRS), Mrs. Ifueko Omoigui Okauru and Accountant general of the Federation Ibrahim Dankwambo have disagreed over the success of e-payment system in the country. While FIRS accused banks of slowing down the process of prompt remittance of funds, the Office of the AGF believe the e-payment has achieved some levels of success within the federal system. Read

Read the following interesting articles from the Features Page
Remi Sets 6-month Target for Parastatals
That Plane-Crash and Fire-Outbreak in Nigeria
Ribadu Returns and Other Stories
YAR’ADUA’S Return; The Implications
Adopting the Chinese Reform for Nigeria’s Economic Revival
Thailand: Protest(s) Capital of Third World Countries.
China-Nigeria Relations and Timely Economic Goals
Budget 2010: “Mugu” Smiles Back Into Debt Trap!
Oil in the north:The search of a generation

Follow States' news from the States Page
Kaduna Approves N13mn for SSC Exams
Yobe Observes Due Process in Contract Awards
Akwa Ibom Woos Investors
Bayelsa Governor Signs 2010 Budget
Anambra Governor Donates N10mn to Hospital
Kano to Establish Traffic Agency
Former Oyo Governor Ladoja Loses Bid to Stop EFCC Trial
 
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#85 From: Economic Confidential <economicconfidential@...>
Date: Tue Apr 20, 2010 1:51 pm
Subject: When Gen. Gusau Attacks CBN, EFCC as Acting First Lady Returns from Brussels
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Latest from the Factual, Authoritative and Accessible Economic Confidential magazine www.economicconfidential.com. Dont forget you may follow or join us on the Facebook. just click on this: Friend.
 
When Gusau Attacks CBN and EFCC: Some economic analysts and foreign investors were indeed shocked by the bombshell from the National Security Adviser (NSA), General Aliyu Mohammed Gusau against activities of Central Bank of Nigeria (CBN) and the Economic and Financial Crime Commission (EFCC) in Nigeria... Also new cabinet members were made to realise that “absolute loyalty is not to those that nominated them but to the person that appointed them into the office.” READ

Ag. First Lady in Belgium for Forum of First Ladies: ….Says Nigeria is Committed to Education-For-All: The Wife of the Acting President, Dame Patience Goodluck Jonathan, and acting as the Nigerian First Lady has returned to Nigeria after an official trip to Brussels, Belgium for Extraordinary Meeting of First Ladies organised by Crans Montan READ

Shoreline Mapping between Lagos and Calabar Carried Out - Odey: The federal government through the National Oil Spill Detection and Response Agency (NOSDRA) has carried out an Environmental Sensitivity Index (ESI) Mapping of the Shoreline between Lagos and Calabar. READ
 
Federation Account: FG, States, LGs Share N284bn: as FAAC Transfers N108.2b Into Excess Crude, PPT Accounts. The Federation Account Allocation Committee (FAAC) has shared a total of N284.592 billion among the three tiers of government at their meeting in April 2010. READ
 
Senator Kuye Promises to Boost Commerce and Industrial Sector: The new Minister of Commerce and Industry, Senator Jubril Martins Kuye has promised to boost activities in the Commerce and Industrial sector of the Nigerian economy. READ

Abuja Lokoja Road for Completion in December- Minister of Works: The new Minister of Works, Senator Muhammed Sanusi Daggash and the Minister of State for Works, Engr. (Dr.) Chris Ogiemwonyi have assured Nigerians that that the pace of work on the Abuja - Lokoja road would becompleted by December 2010. The projects according to the Economic Conf...READ
 
Fake Igbo- Chief in EFCC’s Net Over $243,000 Fraud: A notorious 38 -year- old fraudster, claming to be an Igbo traditional title holder, Sam Nwankwo, has been arrested by the Economic and Financial Crimes Commission, EFCC for defrauding a 57 -year -old man, Mr. Collins to the tune of $243,000. READ

CBN Approves Key Policy Decisions on the Real and the Financial Sectors: The Central Bank Board at its meeting of April 15, 2010, has approved key policy decisions on the funding of SMEs, amendment of prudential guidelines on loan loss provisioning, and rules and regulations on margin lending. READ
 
Monetary Survey on Proposed Abolition of Universal Banking: The Central Bank of Nigeria(CBN) on the 298th Bankers' Committee meeting recently decided  to abolish the current universal banking model in next 18 months. The current model allows all deposit money banks to engage in every type of financial services. READ

IBB: Undue Attention: I have been following with keen interest the decision by the former military ruler, General Ibrahim Babangida to contest the 2011 Presidential election. Personally, I don’t think he (Babangida) will go far. A good example was when ex head of state (Gen Gowon) tried to contest the presidential election in 1992/93. He (Gowon) failed in his primary constituency. READ

Collegiate Presidency and National Harmony: The tenacity of the pro Yar'Adua cabal to hold onto Aso Rock through whatever means must be a testimony to the sweetness of power! Under normal circumstances where political and public offices are geared towards the service of the people, there will be little or no personal gain in capturing power or its retention. READ

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#86 From: Economic Confidential <economicconfidential@...>
Date: Wed Apr 28, 2010 10:10 am
Subject: EFCC Recovers $6.5bn, N1 trillion Assets, Fani-Kayode, El-rufai Investigated
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EFCC Recovers $6.5bn, N1trillion Assets Seized- Farida
… Fresh high profile cases include Botmang, Fani-Kayode, El-Rufai etc
In this exclusive interview granted the Economic Confidential magazine, the Executive Chairman of Economic and Financial Crimes Commission (EFCC), Mrs. Farida Waziri discloses that the agency has recovered over $6bn, while assets worth N1trillion were forfeited from political and economic criminals. She also mentions names of high-profile individuals being investigated that include Michael Botmang, Femi Fani-Kayode, Nasir El-rufai, many Nigerians and foreigners. A retired Asst. Inspector General of Police in charge of X-squad and Fraud Unit, Mrs. Waziri also talks on new software developed by EFCC to track and shut down email addresses of scammers. READ

Emeka Wogu: A Barrister for Dispute Resolutions
A former student activist, Chairman of a local government, political adviser to governor and federal commissioner, this young and energetic Minister of Labour and Productivity has always found himself mediating and resolving disputes. Barrister Emeka Wogu was undoubtedly prepared for the job of promoting industrial cordiality in the country as the acting President Goodluck Jonathan finds him worthy to be in charge of the sensitive Ministry of Labour. READ

FIRS and JTB to Curb Multiple Taxation
The Federal Inland Revenue Service (FIRS) and Joint Tax Board (JTB) are working towards curbing multiple taxation in Nigeria which have been described as illegal and unconstitutional. The Chairman of Joint Tax Board who is also the chairperson of the FIRS, Mrs. Ifueko Omoigui disclosed this at the 122nd JTB meeting in Abuja. She said the federal and state governments have agreed to look at ways of addressing the problem. READ

CBN Attends Islamic Financial Services Board Meeting in Sudan
The Governor, Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi led a delegation from the CBN to the 16th Meeting of the Council of Islamic Financial Services Board (IFSB) in April 2010 in Khartoum, Sudan. This is the second meeting attended by Nigeria since the CBN became a full member of the Council in January 2009. READ

Taraba Can Generate 12,000 MW of Electricity- Finance Comm
The Finance Commissioner for Taraba State, Mr. Rebo has disclosed that the state has the potential to generate over 12,000 MW of electricity for the country if the federal government and foreign investors would be more committed to the project. READ

The Victims of Halliburton and TSKJ Scandals  
Just as there is confusion over the name of the major oil company involved in the bribery scam for a gas plant in Nigeria, so also are the different lists of alleged beneficiaries. The story of bribery scandals by a consortium of foreign oil firms operating in Nigeria has resurfaced again with names of the main culprits who were actually involved lumped with alleged victims whose only offense is that they held sensitive offices at the period when the projects were awarded. READ

Federal Budget 2010: Deceit or Delivery
Budgeting is a yearly activity for countries around the world. Nigeria takes part in such an obligatory activity. Unfortunately, Nigerian citizens seem to have accepted groaning under the pains of budgetary atrocities, in view of the refusal of all tiers of government in Nigeria to conduct an open Public Hearing aimed at integrating (Nigeria’s) citizens into a measurable fiscal delivery of the budgetary targets. READ

External Debt and Nigeria’s Economic Development
One could imagine what triggered the logical mind of a Greek philosopher, Socrates when he observed in his last statement before his execution, that “Crito, we owe a cock to Aesculapius; please pay it and don’t let it pass” With more revenue coming from the crude oil, yet the Acting President, Dr Goodluck Jonathan has got the approval of the Senate to borrow the sum of $915 million (N138.165bn) from the World Bank, part of which it was claim would be used to finance the 2010 budget. READ

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#87 From: Economic Confidential <economicconfidential@...>
Date: Tue May 4, 2010 1:51 pm
Subject: RMAFC: Hamman, 24 Others to Go, El-Rufai for Fed Appointment
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Latest from the Factual, Authoritative and Accessible Economic Confidential magazine www.economicconfidential.com. Dont forget you may follow or join us on the Facebook. just click on this: Friend.

RMAFC: Tukur, 24 others to go: The chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Engr. Hamman Tukur and 24 other Federal Commissioners of the agency will complete their full tenure on May 12, 2010. The list of those leaving the commission is here. READ 

Nasir El-Rufai for Federal Appointment … Allegations may be quashed: The former Minister of the Federal Capital Territory, Mallam Nasir El-Rufai who recently returned to the country from self-exile in Britain is due to be offered an appointment by acting President Goodluck Jonathan that would not require the approval of federal legislators. READ

FIRS Boss Slams N10bn Suit Against Newspaper, Consultant: The Executive Chairman of the Federal Inland Revenue Service, Mrs. Ifueko Omoigui Okauru, has instituted a N10 billion naira suit against a Lagos Weekly newspaper, The Premier, published by Roobbs Communication Network Limited and an accountant, Mr. Fidelis Uzonwanne. READ

N1.6tn Pension Funds: PENCOM, ICRC to collaborate on Infrastructure Finance: With accumulated pension contributions running to over N1.6trillion as at February 2010, the National Pension Commission is seeking collaboration with the Infrastructure Concession Regulatory Commission for massive investment in long-term infrastructure finance. READ

Special Focus on the Corporate Affairs Commission: The Corporate Affairs Commission was established by the Companies and Allied Matters Act , which was promulgated in 1990 to regulate the formation and management of companies in Nigeria. READ

Shekarau Approves Enhanced Salary for Workers… says not all Nigerians are corrupt: The governor of Kano State, Mallam Ibrahim Shekarau who has approved the enhancement of salaries of various professional cadres in the state civil service, said that not all Nigerians are corrupt. READ

A Tribute to Engr. Hamman Tukur of Revenue Commission: In few days or precisely on the 12th of May, 2010, the second term tenure of Engr. Hamman A. Tukur, mni, OFR, the Chairman of the Revenue Mobilisation Allocation and Fiscal Commission would come to an end. By that, Tukur had served the Commission for 10years having appointed earlier in September 1999. READ

A Focus on Education and Sustainable Economic Growth
In today’s technologically-based global economy, considerable emphasis is placed on the contribution made by people, or what economists refer to as human capital, to economic growth. The theory is that the relative contribution of individuals to growth depends on their human capital – the knowledge, skills, competencies and other attributes that are relevant to economic activity. READ

Protecting the Family during the Rainy Season: Another holiday is over. Children are back in schools. After the terrible hot season with accompanied harsh weather, most parts of the country would start to witness the arrival of the rainy season. READ


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#88 From: Economic Confidential <economicconfidential@...>
Date: Thu May 6, 2010 12:23 am
Subject: RIP: Yar'Adua Gone Finally to the Creator
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Yar'Adua is Gone Finally to the Creator
After a lot of rumours and speculation over his ill-health, Nigerian President Umaru Musa Yar'Adua is dead on Wednesday night in the Presidential Villa, Abuja. Yar'Adua who was elected and sworn-in 2007, had been sick since campaign period before his election. He had not been seen publicly since November 2009.... READ

May he rest in perfect peace.
 
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#89 From: Economic Confidential <economicconfidential@...>
Date: Thu May 13, 2010 3:38 pm
Subject: Ibori for Extradition from Dubai, Who is Namadi Sambo
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Latest from the Factual, Authoritative and Accessible Economic Confidential magazine www.economicconfidential.com. Dont forget you may follow or join us on the Facebook. just click on this: Friend.

Ibori Arrested in Dubai to be Extradicted – Waziri
Chairman of the Economic and Financial Crimes Commission, EFCC, Mrs. Farida Waziri has said that the anti-graft agency is working with other security agencies such as Interpol and Met Police, UK on the possible extradition of the former governor of Delta State, Mr. James Onanefe Ibori, who was arrested in Dubai , United Arabs Emirate, UAE on Wednesday May 12... READ

Namadi DSambo: The VP in the Making
The Economic Confidential gathered that when pressure were mounted by various political and sectional groups which are almost about to create divisions in the ruling party PDP, President Jonathan decided to pick a neutral candidate that is not in contention. Some of the groups that have made nominations include Obasanjo’s faction, IBB Boys, Governors’ forum, Legislators camp, Danjuma team and regional groups. Namadi Sambo, apart from distancing himself from the controversy, the other candidates from his state may not pass the SSS screening over heath problems, while another candidate is too controversial to even pass the screening by federal legislators... READ


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#90 From: "KadunaGov_eNews: ICT" <bjadamu@...>
Date: Sun May 16, 2010 3:02 pm
Subject: Re: [News Update] RMAFC: Hamman, 24 Others to Go, El-Rufai for Fed Appointment
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Our People, please disregard themischievoussms texts being circulated on the change of Government in Kaduna State.

Just as in Adamawa State in 1999, the change of leadership did not affect the Administration's Agenda

Please pass it on to your friends....

On Tue, May 4, 2010 at 3:51 PM, Economic Confidential <economicconfidential@...> wrote:

Latest from the Factual, Authoritative and Accessible Economic Confidential magazinewww.economicconfidential.com. Dont forget you may follow or join us on the Facebook. just click on this:Friend.

RMAFC: Tukur, 24 others to go:The chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Engr. Hamman Tukur and 24 other Federal Commissioners of the agency will complete their full tenure on May 12, 2010. The list of those leaving the commission is here.READ

Nasir El-Rufai for Federal Appointment Allegations may be quashed: The former Minister of the Federal Capital Territory, Mallam Nasir El-Rufai who recently returned to the country from self-exile in Britain is due to be offered an appointment by acting President Goodluck Jonathan that would not require the approval of federal legislators. READ

FIRS Boss Slams N10bn Suit Against Newspaper, Consultant:The Executive Chairman of the Federal Inland Revenue Service, Mrs. Ifueko Omoigui Okauru, has instituted a N10 billion naira suit against a Lagos Weekly newspaper, The Premier, published by Roobbs Communication Network Limited and an accountant, Mr. Fidelis Uzonwanne.READ

N1.6tn Pension Funds: PENCOM, ICRC to collaborate on Infrastructure Finance:With accumulated pension contributions running to over N1.6trillion as at February 2010, the National Pension Commission is seeking collaboration with the Infrastructure Concession Regulatory Commission for massive investment in long-term infrastructure finance.READ

Special Focus on the Corporate Affairs Commission: The Corporate Affairs Commission was established by the Companies and Allied Matters Act , which was promulgated in 1990 to regulate the formation and management of companies in Nigeria. READ

Shekarau Approves Enhanced Salary for Workers says not all Nigerians are corrupt: The governor of Kano State, Mallam Ibrahim Shekarau who has approved the enhancement of salaries of various professional cadres in the state civil service, said that not all Nigerians are corrupt. READ

A Tribute to Engr. Hamman Tukur of Revenue Commission:In few days or precisely on the 12th of May, 2010, the second term tenure of Engr. Hamman A. Tukur, mni, OFR, the Chairman of the Revenue Mobilisation Allocation and Fiscal Commission would come to an end. By that, Tukur had served the Commission for 10years having appointed earlier in September 1999.READ

A Focus on Education and Sustainable Economic Growth
In todays technologically-based global economy, considerable emphasis is placed on the contribution made by people, or what economists refer to as human capital, to economic growth. The theory is that the relative contribution of individuals to growth depends on their human capital the knowledge, skills, competencies and other attributes that are relevant to economic activity. READ

Protecting the Family during the Rainy Season: Another holiday is over. Children are back in schools. After the terrible hot season with accompanied harsh weather, most parts of the country would start to witness the arrival of the rainy season. READ


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#91 From: Economic Confidential <economicconfidential@...>
Date: Mon May 17, 2010 12:53 pm
Subject: States Face Economic Crises, Only 3 May Survive without FAAC
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Latest from the Factual, Authoritative and Accessible Economic Confidential magazine www.economicconfidential.com. Dont forget you may follow or join us on the Facebook. just click on this: Friend.

States Face Economic Crises, Only 3 States May Survive without FAAC
President Goodluck Jonathan may soon face a serious challenge of satisfying weaker states that could not survive without monthly allocations from the Federation Account. With less than $5bn in the Excess Crude Account, many states in Nigeria may soon face financial crises due to the dwindling revenue from oil, reckless spending by some governments and deduction for JVC. The Economic Confidential gathered that only 3 states... READ

Between Economic Profligacy and Performances - Finance Minister of State
Over the past 10 years, the growth of discretionary spending by all tiers of government in this country outpaced the annual growth rate of the overall economy with deficits being the expected consequence. The production and price assumptions in the 2010 budget leave minimal headroom for adjustment and expose the economy to higher risks of exogenous shocks... READ

Good Governance and Regulatory Leadership- SEC Boss
Directors should not be members of Boards of Companies in the same industry to avoid conflict of interest, breach of confidentiality and misappropriation of corporate opportunity... Furthermore, the SEC had directed the Nigerian Stock Exchange ensure that  all publicly quoted companies  comply with the provisions to file their quarterly earnings forecast in line with provisions of the ISA. In the event of inability to fulfill the forecast the companies are expected to disclose to the exchange... READ

Why are appropriate policies not adopted in Nigeria- Dr. Martin Oluba
We need appropriate public policies. No doubt about it? They cushion or eliminate many of the challenges that we face. With many of such across the public sector decision-making terrain, many of our challenges as a country will inevitably be resolved. However, beside the fundamental issues pertaining to the adequacy and appropriateness of policy components and processes, concerns have revolved around the determination of the actual point where chances of unriddling the identified chain of Nigeria's problems are frustrated... READ

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#92 From: Economic Confidential <economicconfidential@...>
Date: Mon May 24, 2010 10:17 am
Subject: A Woman Sacked NNPC Boss as FG Says No More Father Xmas to States
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Latest from the Factual, Authoritative and Accessible Economic Confidential magazine www.economicconfidential.com. Dont forget you may follow or join us on the Facebook. just click on this: Friend

FG to Put Embargo on Excess Crude Account... No More Father Xmas
President Goodluck Jonathan is facing a dilemma over agitation for release of funds from the Excess Crude Account (ECA). He is in a delicate situation, as a President, to either approve the release of funds from the account as demanded by governors and local governments chairmen or consider placing embargo on the funds for now as advised by his economic and monetary experts. He has now decided "No More Father Xmas for States and LGCs!" READ

How a Powerful Woman Sacked NNPC Boss
The removal of the immediate boss of Nigerian National Petroleum Corporation (NNPC), Barrister Shehu Ladan has nothing to do with a speculated political ambition to be the Deputy Governor of Kaduna State. A highly reliable source in the oil industry told Economic Confidential magazine bluntly that: “How can you compare the position of the Group Managing Director of NNPC with an ordinary Deputy Governor of a state when even some governors wouldn’t mind to resign for the top position in the oil sector?” He was removed by a new powerful woman in government. READ

Usman Inaugurates a Committee for Nigerian Economic Summit
The Minister/Deputy Chairman, National Planning Commission, Dr. Shamsudeen Usman has inaugurated the Joint Planning Committee for the Sixteenth Nigeria Economic Summit (NES16) with members drawn from the Nigerian Economic Summit Group- NESG (representative of Private the sector) and the National Planning Commission (representative of public sector) to work towards facilitating the successful hosting of this year’s Summit. READ

€17mn Siemens Scam: Former Ministers Investigated
In its determined bid to thoroughly investigate the involvement of some prominent Nigerians in the 17.5million Euro Siemens bribery scam, the Economic and Financial Crimes Commission, EFCC, has summoned three former ministers who are alleged to have been indicted in the scandal for interrogation. READ

When Kaduna sneezes, the nation catches cold
The last few days will go down in the annals of our nation’s history for their historic significance. After a protracted illness, our beloved former President, Alhaji Umaru Musa Yar’Adua finally answered the divine call to return to his maker. We continue to pray that Almighty God will grant him peace. Memories of his great work, life, vision and dreams for our nation will continue to inspire and guide us. READ

Advanced Fee Fraud and the Nigerian Experience
The Advanced Fee Fraud crime is the 419 criminal code section of the Nigerian constitution, which is completely outlawed. The 419 crime is always perfected in such a clever way that the victims believe that the fraudsters are doing honest business, but later discover that all is false. This is after when the victims would have suffered some financial and material losses to the 419ners. There are victims who have suffered this type of false business transaction. However, most of the victims of the 419 frauds are some time also not honest because they are always willing and eager to benefit where they do not invest. READ

MDGS and Institutionalization of Public Accountability
The Society for Monitoring and Evaluation (SMEAN) is a community of practitioners committed to promoting evidence-based planning and value for money on all public investments in Nigeria. The membership of the society is devoted to the institutionalisation of public accountability in all levels of public administration in Nigeria. READ

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#93 From: Economic Confidential <economicconfidential@...>
Date: Mon Jun 7, 2010 12:52 pm
Subject: One Year of CBN Under Sanusi
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Latest from factual, authoritative and accessible economic magazine, Economic Confidential. You can also follow us on social media network for latest economic stories and from other news sources. Click on http://www.facebook.com/economicconfidential

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One Year after: Focusing on CBN Under Sanusi
As every actor knows, it is easy to be typecast. The picture being made of Sanusi Lamido Sanusi, after one year in office as the Governor of the Central Bank of Nigeria is that of a man who is in a hurry to make history. When he was appointed Governor of CBN in June 2009, not a few persons expected a fundamental shift in style and substance in the apex bank... READ

Economy: Nigerians to Slaughter Slab?
Anyway, the way things now stand, even though the international average crude price has remained over the budget benchmark of $67/barrel for most of the year; the crude output projection of 2.3 barrels/day became unrealizable because of disruptions to export in spite of the Amnesty Programme for Niger Delta Militants... READ


Audit Report that Exposed the Rot in the Banking Sector
Many people did not actually know the gory details of how the sacked chief executives of the eight banks ruined their banks. The audit reports showed the sacked CEOs setting up Special Purpose Vehicles to lend money to themselves for stock price manipulation or the purchase of estates all over the world. One bank borrowed money and purchased a private jet which was later discovered registered in the name of the CEO's son... READ

The legality of CBN's Action on sick banks
One of the shareholders of the banks, Sir Sunny Nwosu said the apex bank erred by appointing chief executives of banks and at the same time fixing their tenure. A Lagos based lawyer, Festus Keyamo disclosed that though the CBN Act says little about its powers in relation to other banks, BOFIA Act is very detailed regarding the powers and functions of CBN... READ

NEMA Delivers Relief Materials to Haiti
The National Emergency Management Agency has delivered relief items approved by the federal government for victims of the earthquake disaster that devastated Haiti on 12th January 2010.Director General of NEMA retired Air Vice Marshal Mohammed Audu-Bida delivered the items on behalf of the federal government to the Haitian authorities for the victims in Port-au-Prince, the country’s capital. He said the items were approved by President Goodluck Jonathan in addition to the earlier financial donation made to cushion the impact of the disaster... READ

Monetary Policies and the Nigeria 's Economic Development
Apart from his distinction in monetary policy at master degree program, Lamido Sanusi has displayed high level of competence in the application of such intellectuality towards the sanitization of our national monetary system; the process which has led to the ongoing reforms in the Nigerian banking sector... READ

Mothers as Career Counsellors for Children
While trying to counsel our children on future careers, they should be encouraged to decide based on their knowledge and skills, which as mothers who are close to them, be able to advise them accordingly. It must be pointed out that we should regularly crosscheck and evaluate their class works to determine their proficiencies. Mother should be the children’s best companion… be close enough to understand the subjects they are good at from the foundation... READ


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#94 From: Economic Confidential <economicconfidential@...>
Date: Tue Jun 8, 2010 6:45 pm
Subject: Prof. Jega New INEC Boss
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Prof. Jega Becomes INEC Boss
A radical academic and Vice Chancellor of Bayero University Kano, Professor Attahiru Jega has been endorsed for nomination as the Executive Chairman of Independent National Electoral Commission (INEC) by the National Council of States (NCS). Professor Jega who fought IBB... READ

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#95 From: Economic Confidential <economicconfidential@...>
Date: Mon Jun 14, 2010 9:11 am
Subject: Jimoh Ibrahim May Acquire London Hotel
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Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also follow us on Facebookhttp://www.facebook.com/economicconfidential. To read any of the stories below click on READ at the bottom of the summary or go to our homepage (www.economicconfidential.com)

 
Jimoh Ibrahim May Acquire London Hotel
After acquiring Virgin Nigeria Airways which he renamed Air Nigeria, the maverick young Nigerian billionaire Jimoh Ibrahim is the only African who has shown interest to acquire the Cumberland Hotel, five star hotel in the heart of London, the capital of Britain... READ

VP Sambo Tasks DMO on Projects
The Vice President, Arc. Mohammed Namadi Sambo, has urged the Debt Management Office (DMO) to raise funds for capital projects especially for power generation, transportation and road construction in order to facilitate speedy infrastructural development in the country... READ
Former Governor and Minister: Rev Nyame and Prof. Borishade Face Criminal offences
The Economic and Financial Crimes Commission, EFCC has filed a 71 page additional proofs of evidence against former governor of Taraba state, Rev. Jolly Nyame over his on-going trial in a case of N180 billion scam preferred against him just as more shocking revelations are coming out of the trial of the former Minister of aviation, Professor Babalola Borishade, and four others over alleged fraud of N5.6 billion for safe tower project... READ

FG Refunds LGCs Paris Club Windfall
The Finance Minister of State, Mr. Remi Babalola has disclosed that the Federal Government through the Federation Account Allocation Committee (FAAC) had settled the share of the Paris Club debt exit refund due to the 774 Local Government Councils. He however did not disclose if the refunds were made directly to the local government councils or through their states that control State Local Government Joint Accounts... READ

Niger Bridge to be completed in 3 years - Daggash
The Minister of Works, Senator Mohammed Sanusi Daggash has assured Nigerians that the government is committed to commence work on the 2nd Niger Bridge and would ensure its completion within 3 years... READ
FG to Compensate for Acquired Structures and Trees in Niger Delta
The Minister of State for Niger Delta affairs, Hon. Samuel Ode has said all the owners of the designated properties who had given approvals for the acquisition of their properties by the government would get compensations for physical structures and economic trees on the lands. He asked them to forward the account and other documentations of their clients to facilitate the payments; but he however, emphasized that the ministry will not pay for the lands themselves... READ

Nigeria: the need for credible polls in 2011
One of the big challenges confronting elections in Nigeria is the credibility question. Most of the country's election beginning from 1960s has been marred by electoral frauds. In 1979, during the second republic, there were lots of political upheavals occasioned by heavy rigging and manipulation of election results. Have you heard about the crisis between Omoboriowo and Ajasin that nearly wiped out the people of Ondo state? The phenomenon called electoral malpractices has been the major threat to the credibility of the country's general election... READ

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#96 From: Economic Confidential <economicconfidential@...>
Date: Wed Jun 23, 2010 2:20 pm
Subject: Facts on Salaries and Allowances of Legislators in Nigeria
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Hi Readers,

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also follow us on Facebook www.facebook.com/economicconfidential. To read any of the stories click on READ at the bottom of the summary or go to our homepage (www.economicconfidential.com)

Facts and Figures on Salaries and Allowances of Legislators in Nigeria
As Nigerians debate over the allegation of Jumbo pays for legislators in the country and and more enquiries being made on the actual and legimitate remunerations and other entitlements of legislators in Nigeria, the Economic Confidential is reproducing its exclusive report on the the facts and figures of salaries and allowances of legislators in Nigeria. READ

Dollar and Duty Tour Allowances for Legislators in Nigeria and Other Privileges
Because of popular demands of Nigerians to know the actual and official duty tour allowances for local and foreign travels of their legislators at federal, state and local governments, the Economic Confidential reproduces here its Exclusive report it published in its edition of August 2008. READ

Nigeria Requires $6bn to Sustain Electricity after Signing JVGS Agreement
Federal Government has said it would require six billion US dollars annually to meet the Nation’s aspirations for Vision 2020 through sustaining the electricity needs of the country just at it signed another Joint Venture gas Supply Agreeement with an oil company to cover the supply. READ
 
Again EFCC Accuses El-Rufai of Delaying Trial
The Economic and Financial Crimes Commission, EFCC has accused former Minister of the Federal Capital Territory , Mallam Nasir El-Rufai of making efforts to delay his trial over allegations of abuse of office and conspiracy preferred against him. The accusation came on the heels of the preliminary objection raised by El-Rufai against his trial at a Federal High Court sitting in Abuja. The former minister brought a motion of preliminary objection challenging the jurisdiction of the court to entertain the corruption charges against him. READ

New War against Almajiris, Area Boys and Militants coming- VP Sambo
The Vice President of Nigeria, Arc. Mohammed Namadi Sambo, has said that the Federal Government has expanded the scope and frontiers of its war against illiteracy to include the almajiris, area-boys and ex-militants in the Niger Delta to achieve the Millennium Development Goals (MDGs). READ

Oil Price Flux: Warning to Nigeria and other Oil Dependent Nations
Nigeria and other oil dependent countries could no longer rely on narrow and static paradigms of growth due to the global financial crisis and the concomitant fall in oil prices.While advocating more commitment to ICT, Nigeria's Finance Minister of State, Remi Babalola said since 1999, the telecom industry in Nigeria has attracted more than US$12 billion worth of investment and is contributing more than 2 percent of GDP up from 0.37 percent in 1999. READ

Foreign Contractors take Nigeria for Granted - Minister
The Minister of Works, Senator Mohammed Sanusi Daggash has appealed to contractors handling road projects in the country to consciously avoid taking the government and people of Nigeria for granted. He gave this admonition while inspecting the Jebba – Mokwa road  READ

Kaduna Warns Rumour Mongers on Cabinet Composition
The Kaduna state government has once again come out to public dispel public fears and rumour on the composition of members of the state executive. In a press statement by the Special Adviser, Media and Publicity to the governor of the state, Reuben Buhari, the government said that  READ

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