[News Update] 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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