Yushau A. Shuaib: May 2009

[News Update] Tunde Lemo to Act As CBN Governor as Lamido is Set

Latest from the Economic Confidential www.economicconfidential.com

Tunde Lemo to Act As Governor of CBN As Lamido is Set

As President Umaru Musa YarÁdua prepares to announce the name of new Governor of the Central Bank of Nigeria (CBN) this week to replace Professor Chukwuma Soludo, the coast is clear for Mr. Tunde Lemo to take over in an acting capacity pending the approval of the Senate of any nominee from the Presidency... Read

Auditor General: Gabriel Ogunsina Takes Over

The federal government has issued an official letter to Mr. Gabriel Ogunsina to take over as acting Auditor General of the Federation, being the most senior director in the Office after staffs had been in pensive moods over the purported desire of the intention of the former Auditor-General, Mr. Robert Ejenavi to foist an outsider to take over instead of recommending directors in the office, Economic Confidential gathered... Read

Dousing Allegations Against NDIC Boss

The on-going allegations making the rounds on misappropriation of funds running into billions of naira by the Managing Director / Chief Executive of Nigeria Deposit Insurance Corporation (NDIC), Mr. Ganiyu Adeleye appeared to have finally been doused... Read

FMBN Raises N17bn for Recapitalisation

… Targets Informal Sector for Mortgage Facilities

The Federal Mortgage Bank of Nigeria (FMBN) has concluded plans to raise additional N17 billion through the floatation of bond to deliver housing to Nigerian masses. The new issue would be overseen by the Security Issuance and Market Development Department, a new unit created in furtherance of restructuring of the organisation... Read

Please go to the HomePage www.economicconfidential.com to read:

FEATURES

The Plight of Displaced People in Warri- By Yushau A. Shuaib

The Other Side of Re-Branding Nigeria - By Saka Raji audu

Yet, Another Airforce One Trajects Over Nigeria - Norris Benedict

ESSAYS

Reforming the Nigeria Customs Service - By Dr. Mansur Muhtar

Boosting Revenue through Non-Oil Taxes -By Remi Babalola

Power Sector: The Glimmer of Hope- By Segun Imohiosen

Economic Confidential

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Nigeria's Economic Magazine

www.economicconfidential.com

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[News Update] Auditor-Gen Refuses to Vacate, as AGF Warns Banks on E-Payment

Latest

Outgoing Auditor-General Lobbies for Extension

The staffs of the Office of the Auditor General of the Federation are in pensive moods over the purported desire of the out-going Auditor-General, Mr. Robert Ejenavi to foist an outsider to take over from him or have his tenure extended instead of recommending directors in the office , Economic Confidential gathered... Read

No Going Back on E-Payment- AGF

The Accountant General of the Federation, Mal. Ibrahim Hassan Dankwambo has reiterated that the government would not reverse the E-payment system introduced in January 2009 for transactions in government businesses. He made the disclosure at the inauguration of Bank's Committee on E-payment... Read

Four governors Tour US to Study Governors' Association

As part of the steps towards repositioning the Nigeria Governors Forum, four Nigerian governors undertake a tour of the United States to familiarize themselves with the workings of the National Governors' Association in that country... Read

FIRS Seals Two Oil Companies Over $610m Tax Arrears

The Federal Inland Revenue Service, FIRS in Lagos , sealed up the offices of two oil companies: Continental Oil and Gas and Con Oil Producing Limited over tax arrears totaling $610.6 million dollars... Read

Firms Owed Govt N260b in Taxes

The Federal Government is owed a colossal sum of over N260 billion and over $260 million in Withholding Tax (WHT), Pay As You Earn (PAYE) and Value Added Tax (VAT) by companies, institutions, and ministries, departments and agencies ( MDA s), the Finance Minister of State, Mr. Remi Babalola revealed during the annual tax conference of the Chartered Institute of Taxation of Nigeria ( CITN ), where he described the debt as unacceptable to the government and must be recovered... Read

Group Calls for Affordable Legal Education

With the global economic recession hitting harder on average Nigerians, the heat is fast taking its toll in different dimensions as reflected in the exorbitant fees Nigerian law students seeking admission to the Nigerian Law School and the high level commercialization of legal education in Nigerian universities... Read

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FEATURES/ESSAYS

You can also read the following articles/essays submitted to the Economic Confidential from the Home Page: www.economicconfidential.com

Ø Quota System will Abolish Nigeria – By Chinedu Vincent Akuta

Ø Labour and Minimum Wage Expectations - By Les Leba

Ø The Politics of Fuel Scarcity and Re-Deregulation in Nigeria By Kola Ibrahim

Ø Reforming the Nigeria Customs Service - By Dr. Mansur Muhtar

Ø Boosting Revenue through Non-Oil Taxes -By Remi Babalola

Ø Power Sector: From Positive Perspective - By Segun Imohiosen

Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine

www.economicconfidential.com

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[News Update] Federal Account: Akwa-Ibom now Richest Oil State... Jigawa richer than C/River

Latest from Economic Confidential www.economicconfidential.com

Federation Account: Akwa Ibom is now the Richest Oil Producing State in Nigeria

As They Share N241 and N206 from FAAC and Excess Crude Accounts

Akwa Ibom State has emerged the richest oil producing state at the April meeting of FAAC beating Rivers to second position. In a table of distribution of monthly Federation Allocation exclusively obtained by the Economic Confidential it reveals that Akwa Ibom received a sum of N9.1bn, followed by Rivers N8.9bn. While some oil states like Ondo, Edo and Cross River received less allocations of N3.8bn, 3bn and N2.2bn respectively, non-oil states of Lagos received N7.5bn, Kano 5.2bn, Katsina N3.9bn, Oyo N3.7bn, even Jigawa and Osun States are in N3billion bracket. Please Click here for detail: http://www.economicconfidential.com/may09factfaac.htm

How They Share Excess Crude Distribution of N206bn in April 2009

PROFILE

ABDULSALAM Y. AHMED – The Top Banker in FMBN

INTERVIEWS

Nigeria has Enough Exportable Goods- Ag.CEO NEPC

Our Law School Needs N200mn Monthly or... DG NLS, Abuja

Read more from www.economicconfidential.com and the following:

MONETARY

As CBN Celebrates Golden Jubilee

3 Nigerian Banks Make Forbes top World's Biggest

Zenith Bank makes 3,000% profit in Ghana

Unity Bank Adjudged Most Efficient Bank at Kaduna Trade Fair