[News Update] Jimoh Ibrahim's interview: Debtors Should pay... Some Owe N1trillion

 

Latest from the Economic Confidential www.economicconfidential.com     INTERVIEW Debtors Should Pay…But CBN is unfair- Jimoh Ibrahim He is just 43 years old but his businesses cut across different sectors of the Nigeria's economy. He is a lawyer, publisher, national award winner, oil magnet, hotelier and owns the major insurance company in the West Africa in addition to other investments in financial institutions and estates at home and abroad. He is Barrister Jimoh Ibrahim, the Chief Executive officer of Global Fleet group of Companies. After the recent directive of Central Bank of Nigeria (CBN) to major debtors in the Nigerian banks to offset their indebtedness on non-performing loans, Jimoh said that he was wrongly credited with inaccurate and bloated figures on the loan. In this interview he granted the Economic Confidential Jimoh voices out his mind on the new reform in the banking sector and the effect on the economy and also discloses that two people owed about N1 trillion... Read   Auditors Raise Alarm over Politics on Post of new Auditor General  Public Service Auditors in the country have kicked against alleged attempts by the Federal Civil Service Commission (FCSC) to sideline their members in the appointment of a new Auditor General for the Federation (AGF)... Read   Odey Urges State to Establish Climate Change Roundtables ...As NNPC Poised to Reduce Gas Emission The Minister of Environment, Mr. John Odey has appealed to Governors in the federation to establish Climate Change Roundtables in their States just as Group Managing Director of NNPC Mr. Mohammed Sanusi Barkindo said that the nation's oil and gas industry will continue to implement activities designed to reduce emission of greenhouse gases... Read   The New Tenure for Permanent Secretaries and Directors in the Federal Civil Service Circular on New Tenure for Permanent Secretaries and Directors from HOS Rationale Behind New Tenure for Perm Sec and Directors By Segun Adeniyi Public Service Tenure System By Salisu Suleman   Ex-Banks' CEOs to Remain in Custody Till September As EFCC Draws List of Defaulters for Prosecution The hope for the early release of sacked chief executives of banks that were accused of granting non-performing loans is dashed as the EFCC has secured a court order to detain them till September 6, 2009... Read   Visit our website for more update Economic Confidential Factual, Authoritative and Accesible Nigeria's Economic Magazine www.economicconfidential.com

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[News Update] Ex-Banks' CEOs to Remain in Custody Till September

 

Latest from the Economic Confidential www.economicconfidential.com     Ex-Banks' CEOs to Remain in Custody Till September As EFCC Draws List of Defaulters for Prosecution The hope for the early release of sacked chief executives of banks that were accused of granting non-performing loans is dashed as the EFCC has secured a court order to detain them till September 6, 2009... Read   Jimoh Ibrahim to Pay  N3.1bn to Oceanic Bank Over Debts The Group Managing Director of Global Fleets, Bar. Jimoh Ibrahim has offset part of his indebtedness to the Oceanic Bank Limited to the tune of N3.1b from the N8billion which he claimed the bank had notified him as the amount he owed as at May 18, 2009... read   EFCC Declares Ibru, Akingbola Wanted  The Economic and Financial Crimes Commission, EFCC has declared wanted the recently sacked Chief Executive Officer of Oceanic International Bank Plc, Mrs. Cecilia Ibru, and her Intercontinental Bank Plc counterpart, Mr. Erastus Akingbola... Read   FEATURES Banks and Fraud Incorporated By Les Leba It seemed that the banks could do no wrong with Charles Soludo as Governor of Central Bank.  Even when Intercontinental Bank was fingered as distressed by International Rating Agencies... non other than the erudite keeper of our nation's treasury came out in stout defence of Intercontinental Bank with several adverts in the media... Read   Bank Debtors and the plight of textile sector By Saka Raji Audu The question is, where were these five banks with their N746 billion when the Federal Government of Nigeria had been searching for only N70 billion to assist the textile industries towards overcoming their plights in form of textile revival loan?... Read   Also read more from Media Updates in the Homepage (www.economicconfidential.com):   *ICPC probes ex-minister Ezekwesili *N747bn loan- Dangote, Jimoh pay N6b *Debts- EFCC boss moves to Lagos *RMAFC:NNPC to return N12.64bn to FAAC *CBN  puts N100m debtors in new list *CBN, EFCC advised to follow due process *Non-performing loans will affect pension *UMYA backs sanusi's reform, No Agenda *Nigerian oil militants surrender rockets   Economic Confidential Factual, Authoritative and Accesible Nigeria's Economic Magazine www.economicconfidential.com

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[News Update] CBN Admits Typo, Debtors Kick, Bankers Run, EFCC to Arrest Next Week

 

Latest from the Economic Confidential (www.economicconfidential.com)     CBN Admits Typo Errors on Debtors, EFCC Insists on Arrest Next Week As some of the big debtors alleged misrepresentations in the names and figures attributed to them in the recent publication by Central Bank of Nigeria (CBN), the bank has admitted that there were some typographical errors in some of the names just as the Economic and Financial Crimes Commission insists that it would start the arrest and prosecution of the defaulters next week, Wednesday... Read   Nigeria's External Debt: The trus Position  Recently, there has been a positive and inspiring development around Nigeria's public debt management issues, in terms of growing interest and participation by stakeholders. This development which has manifested in various forms, including, enquiries, comments, concerns, criticisms and suggestions, demonstrates that the efforts of the Debt Management Office (DMO) to democratize public debt management knowledge and practice is producing the desired results.  It represents a growing effective demand for public debt management services, which is very essential for guaranteeing and sustaining quality supply of the services...Read   FOCUS: New Federal Permanent Secretary  The President, Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria, Alhaji Umaru Musa Yar'Adua has approved the deployment of Permanent Secretaries as follows... Read   Jumbo pays for politicians & our slavish mentality By Harry Agina I recently read a very disturbing article on this subject titled "Councilors Get 735% Slash in Remunerations," which was written by McDonald Koiki of the Economic Confidential Group. Fraught with slavish mentality, the article is a swipe at the recent attempt by Nigeria's Revenue Mobilization Allocation and Fiscal Commission to bring some sanity into our remuneration policy for political offices in Nigeria... Read   Nigeria's Debt Creation Office By Les Leba The success of this government agency's efforts in managing  our debts is evident in a steady rise of our domestic debt from less than N1 trillion to over N3 trillion in less than five years, and yet, most Nigerians will agree that the steady debt accumulation has brought little or nothing to the quality of their lives!...Read   The List of Major Debtors of Non-Performing Loans in Five Banks     More stories and Features in the Home Page www.economicconfidential.com   Economic Confidential Factual, Authoritative and Accesible Nigeria's Economic Magazine www.economicconfidential.com

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[News Update] List of Major Debtors in 5 Nigeria's Banks as NEITI Reports Scandal in Oil

 

Latest from the Economic Confidential (www.economicconfidential.com)     The List of Major Debtors of Non-Performing Loans in Five Banks   The Central Bank of Nigeria (CBN) has released the details of major and largest debtors of non-performing loans of the five banks whose managements were sacked recently. The debtors include government agencies, corporate organisations and individuals in their personal capacities. Most of the directors are popular billionaires, politicians, retired military Generals among others...Read   More Scandals in the Oil Sector- NEITI Reports As the government continues to wage war against corruption, corrupt practices go on unabated in the oil sector. In a new audit report of Nigeria Extractive Industries Transparency Initiative, NEITI, areas of leakage in the  sector have been discovered by the independent Auditors, the Hart Group... Read   EFCC Hits Back at Hillary Clinton NDIC Board Inaugurated as Foreign Direct Investment Hits $13.95bn  More stories and Features in the Home Page Economic Confidential Factual, Authoritative and Accesible Nigeria's Economic Magazine www.economicconfidential.com

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[News Update] CBN Sacks 5 CEOs, Injects N400bn and Refunds $90mn to FAAC

 

Latest from the Economic Confidential (www.economicconfidential.com)     CBN Sacks 5 Bank CEOs, Injects N400bn and Refunds $90mn to FAAC In his first major action against unethical practices in the banking sector as well as compliance to due process, the Governor of Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi has sacked Chief Executive Officers of five banks in Nigeria over a debt crisis just as he refunds $90.64mn to the Federation Account which was wrongly charged as commission over Paris Club Debt Exit… Read Economic Confidential Factual, Authoritative and Accesible Nigeria's Economic Magazine www.economicconfidential.com

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[News Update] How FG, States Share N313bn in July while FIRS Generates N808bn in 6months

 

Latest from the Economic Confidential (www.economicconfidential.com)   Editor's Suite Much ado about banks' common year end Incidentally, the Nigerian Stock Exchange and some other interest groups have kept up opposition to the move. It wants the CBN to review the decision, urging it to instead adopt a double year-end for the banks. At present the financial year-end of most banks range from February to December, which often creates confusion and makes it difficult to compare results across the sector.... Read   Exclusive Interview How We Generate N808bn in Tax Revenue Within Six Months- FIRS Boss The Chairman of Federal Inland Revenue Service, Mrs Ifueko Omoigu-Okauru, who holds a First Class degree in Accounting from the University of Ibadan and Masters of Science Degree in Management Science from the Imperial College, University of London granted the Economic Confidential an exclusive interview. A Fellow of the Institute of Chartered Accountants of Nigeria and a chartered tax practitioner told the Economic Confidential the challenges and achievement of FIRS in tax administration in Nigeria and how the agency has collected over N800bn within six months in 2009. Excerpts....   Facts and Figures How FG, States and LGs Share Another N313bn in July 2009 The Federation Account Allocation Committee at its meeting in July 2009 disburses N313bn to the tiers of government. For the fourth time this year, the Economic Confidential reveals that Akwa Ibom is still the highest recipient from the Federation Account Allocation receiving a total sum of N10.80bn, followed by Rivers State which received N10.34bn, Delta N9bn, Lagos N9.118bn and Kano N6.2bn. The former oil-producing Cross River state is amongst the lowest recipient-states with N2.8bn followed by Gombe N2.8bn, Ekiti N2.8bn, Nasarawa N2.7bn and Ebonyi N2.7bn… See the Table   Major Changes in NNPC Top Management The President of the Federal Republic of Nigeria has approved major changes in the Management of the Nigerian National Petroleum Corporation (NNPC)... See the list   For Current Features go to HomePage www.economicconfidential.com to read: v  Saraki: The Father, the Son and 'Only' Daughter?- By Yushau A. Shuaib v  I Am Militant too, Mr. President  -By Victor Segun Olomola v  Dealing With Corrupt Governments -By Akintokunbo A Adejumo v  University Workers' Strikes and the Government -By kola Ibrahim v  Ignorance Is A Disease - By Chinedu Vincent Akuta v  Dividends of N440bn Security Vote for Niger Delta -By Les Leba v  Nigeria's Economic Odyssey to 2020 – By Salihu Muhammed v  Volunteerism in Emergency Management -By Segun Imohiosen v  When African Ministers meet on economic Recovery- By Prince Okeokwu v  A Race Towards Industrial Development – By Bolaji Kazeem v  Vision 2020 and Challenges of Globalisation -By Hadi Y. Al-Hassan   And more in: Economic Confidential Factual, Authoritative and Accesible Nigeria's Economic Magazine www.economicconfidential.com For Print edition call Marley 08053650824

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[News Update] New Pays of Nigeria's Legislators: Senators, Speakers, Members and Councillors

 

Latest from  Economic Confidential www.economicconfidential.com   FACT: Salaries and Allowances of Legislators in Nigeria The Revenue Mobilisation Allocation and Fiscal Commission has recently reviewed downward some allowances of political office holders including those in the Executive, Legislative and Judicial arms while it sustains the old salaries which are used for the computations of percentages for the allowances. In an analysis and computation of the percentages of the deduction by the Economic Confidential, the economic intelligence publication, indicates that Nigerian councillors are the worst hit in the new packages… Read the details and tables   Councilors Get 735% Slash in Remunerations Recent developments show that the once enviable position of Local Government Area Councilor with attractive remuneration of NGN232,773.28 per month plus other incentives has been turned into an undesirable position. Otherwise, how best can one describe a 735% slash in remuneration of this category of public office holders? One would begin to wonder the rationale behind this action. Does this class of public office holders deserve this treatment, irrespective of reasons provided?... read   MM Abdul: The Monetary Spokesperson And guess! With his close contact with the press on behalf of the bank, his name got hardly mentioned even if he had to write and issue press releases for the organization as he always urged the press to concentrate on the message and credit his immediate bosses or the Governor of the Central Bank. The officer is the newly appointed Head of Corporate Affairs/Spokesman for the Bank, Mr. Mohammed Mukhtar Abdullahi who is popularly known in the media circle as MM… Read And more from Economic Confidential Factual, Authoritative and Accesible Nigeria's Economic Magazine www.economicconfidential.com

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