[News Update] How They Share N1.5 Trillion from Federation Account in July 2011 and Still on Islamic Banking
Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook http://www.facebook.com/economicconfidential and http://www.facebook.com/economicmagazine
How They Share N1.5 trillion in July 2011
Though some of the benefiary states are not comfortable with the release of the actual figures of revenue allocation they received in July 2011 at the Federation Account meeting in Abuja, the Economic Confidential magazine has republished the 'triple allocations' that were disbursed to the three tiers of government in July 2011 of over N1.5 trillion. The allocations came from Statutory and VAT disbursement, Budget Differential Bonus and from Excess Crude Account. See the three tables of disbursement from this link: http://economicconfidential.net/new/financial/facts-a-figures/766-federation-account-how-they-share-n15-trillion-in-july-2011
Though some of the benefiary states are not comfortable with the release of the actual figures of revenue allocation they received in July 2011 at the Federation Account meeting in Abuja, the Economic Confidential magazine has republished the 'triple allocations' that were disbursed to the three tiers of government in July 2011 of over N1.5 trillion. The allocations came from Statutory and VAT disbursement, Budget Differential Bonus and from Excess Crude Account. See the three tables of disbursement from this link: http://economicconfidential.net/new/financial/facts-a-figures/766-federation-account-how-they-share-n15-trillion-in-july-2011
More
Power Projects in the North for Completion – VP
The Vice President of Nigeria, Mohammed Namadi Sambo has expressed satisfaction with the progress of work and documentation at the Mambilla, Zungeru and Kaduna Power Projects all in the Northern part of the country.Read: http://economicconfidential.net/new/news/national-news/757-more-power-projects-in-the-north-for-completion-vp
The Vice President of Nigeria, Mohammed Namadi Sambo has expressed satisfaction with the progress of work and documentation at the Mambilla, Zungeru and Kaduna Power Projects all in the Northern part of the country.Read: http://economicconfidential.net/new/news/national-news/757-more-power-projects-in-the-north-for-completion-vp
FIRS
Collects N1.9Trillion in 6 months
The Chairman Federal Inland Revenue Service (FIRS) Ifueko Omoigui Okauru has disclosed that a total sum of N1.974.17 trillion was collected between January and June 2011 by the agency. Read: http://economicconfidential.net/new/financial/tax-matters/763-firs-collects-n19trillion-in-6-months
The Chairman Federal Inland Revenue Service (FIRS) Ifueko Omoigui Okauru has disclosed that a total sum of N1.974.17 trillion was collected between January and June 2011 by the agency. Read: http://economicconfidential.net/new/financial/tax-matters/763-firs-collects-n19trillion-in-6-months
A Muslim's Thought on Christian Banking in Nigeria
It is rather unfortunate that every issue in Nigeria today is debated on the basis of ethnic or religious sentiments, while every action taken is politicised, becoming a weapon for further escalation of animosity among the Nigeria's citizens.Read: http://economicconfidential.net/new/features/761-a-muslims-thought-on-christian-banking-in-nigeria
Sustaining
Competition in Banking Reforms
Over the short period of Nigeria's reform programmes, competition has proven to be the best way to keep prices in our economy lower over time – the telecom sector, aviation and entertainment; particularly the film industry had attest to this. The financial industry, particularly the banking sector had gone through series of reforms aimed at strengthening the economy. Read: http://economicconfidential.net/new/features/760-sustaining-competition-in-banking-reforms
Over the short period of Nigeria's reform programmes, competition has proven to be the best way to keep prices in our economy lower over time – the telecom sector, aviation and entertainment; particularly the film industry had attest to this. The financial industry, particularly the banking sector had gone through series of reforms aimed at strengthening the economy. Read: http://economicconfidential.net/new/features/760-sustaining-competition-in-banking-reforms
Islamic
Banking: Can We Afford Not To Have It?
With presence in over 60 countries, Islamic banking has steadily evolved overtime to dealing with whole gamut of financial services, including: leasing of assets, bonds (Sukuk), structured products and wealth management. It has indeed, grown rapidly in the past five years; total assets of the 500 largest banks grew on year by almost 29% in 2009, to an estimated US$1.3 trillion (EIU, 2011). Read: http://economicconfidential.net/new/features/741-dangote-opening-new-investment-frontiers
With presence in over 60 countries, Islamic banking has steadily evolved overtime to dealing with whole gamut of financial services, including: leasing of assets, bonds (Sukuk), structured products and wealth management. It has indeed, grown rapidly in the past five years; total assets of the 500 largest banks grew on year by almost 29% in 2009, to an estimated US$1.3 trillion (EIU, 2011). Read: http://economicconfidential.net/new/features/741-dangote-opening-new-investment-frontiers
Dangote: Opening new investment frontiers
"I have more confidence in Nigeria than in any other country. I will keep investing" -Dangote
Africa's richest man AlikoDangote arguably knows these simple laws, one of which is never to rest on your oars, as he opens new investment frontiers. Despite making it to the top in Africa with a net worth of $13.8 billion in March 2011, according to Forbes Magazine, the world's 51st richest person is planning to build yet Africa's biggest fertilizer company that will provide additional 7,000 jobs. Read: http://economicconfidential.net/new/features/741-dangote-opening-new-investment-frontiers
"I have more confidence in Nigeria than in any other country. I will keep investing" -Dangote
Africa's richest man AlikoDangote arguably knows these simple laws, one of which is never to rest on your oars, as he opens new investment frontiers. Despite making it to the top in Africa with a net worth of $13.8 billion in March 2011, according to Forbes Magazine, the world's 51st richest person is planning to build yet Africa's biggest fertilizer company that will provide additional 7,000 jobs. Read: http://economicconfidential.net/new/features/741-dangote-opening-new-investment-frontiers
Rescued
Banks Face Uncertain Future OverCbn Threat Of Nationalisation
Panic has gripped depositors in the eight rescued banks while the banks now face uncertain future over threat of nationalisation hanging on them after the September 30 deadline handed over to them by the Central Bank of Nigeria (CBN). The affected banks are Union Bank, Spring Bank, Intercontinental Bank, Oceanic Bank, Bank PHB, Spring Bank, FinBank and Afribank.How the affected banks came about their misfortune is now history as far as the Nigerian financial system is concerned. Read: http://economicconfidential.net/new/features/742-rescued-banks-face-uncertain-future-overcbn-threat-of-nationalisation
Panic has gripped depositors in the eight rescued banks while the banks now face uncertain future over threat of nationalisation hanging on them after the September 30 deadline handed over to them by the Central Bank of Nigeria (CBN). The affected banks are Union Bank, Spring Bank, Intercontinental Bank, Oceanic Bank, Bank PHB, Spring Bank, FinBank and Afribank.How the affected banks came about their misfortune is now history as far as the Nigerian financial system is concerned. Read: http://economicconfidential.net/new/features/742-rescued-banks-face-uncertain-future-overcbn-threat-of-nationalisation
CBN
Endorses Bridge Banks
The Central Bank of Nigeria (CBN) has endorsed the decision of the Nigeria Deposit Insurance Corporation (NDIC), to exercise its statutory powers under the Nigerian Insurance Deposit Corporation Act, to establish Enterprise Bank Limited, Keystone Bank Limited, and Mainstreet Bank Limited as Bridge Banks, and by Purchase and Assumption Agreements, cause all the deposit liabilities and certain other liabilities and the assets of Spring Bank Plc, Bank PHB Plc, and Afribank Nigeria, respectively to be assumed by the 3 Bridge Banks, effective 5th August 2011. Read: http://economicconfidential.net/new/financial/monetary/764-cbn-endorses-bridge-banks
The Central Bank of Nigeria (CBN) has endorsed the decision of the Nigeria Deposit Insurance Corporation (NDIC), to exercise its statutory powers under the Nigerian Insurance Deposit Corporation Act, to establish Enterprise Bank Limited, Keystone Bank Limited, and Mainstreet Bank Limited as Bridge Banks, and by Purchase and Assumption Agreements, cause all the deposit liabilities and certain other liabilities and the assets of Spring Bank Plc, Bank PHB Plc, and Afribank Nigeria, respectively to be assumed by the 3 Bridge Banks, effective 5th August 2011. Read: http://economicconfidential.net/new/financial/monetary/764-cbn-endorses-bridge-banks
Always visit our website for updates
Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine
__._,_.___
Sharing factual, timely and authoritative economic news, analyses and data, especially on Nigeria's economy from reliable sources.
.
__,_._,___
posted by Economic Confidential at 4:06 AM
0 Comments:
Post a Comment
<< Home