President Jonathan declares State of Emergency in some parts of Borno, Yobe, Plateau & Niger as follow Borno :  Maidugiri Metropolitan; Gamboru Ngala; Banki Bama;  Biu; Jere. Yobe State: Damaturu; Geidam; Potiskum; Buniyadi-Gujba; Gasua-Bade;
Plateau:Jos North; Jos South; Barkin-Ladi; Riyom.
Niger: Suleja

Boko Haram: After bomb blast in Church in Madalla on Xmas Day, a bomb exploded in a Mosque after Jumuat prayers in Maiduguri, Nigeria. Whatzup!!!

At last President Jonathan of Nigeria summons Service Chiefs, heads of security agencies to an emergency meeting in the Villa.

Without the free monthly oil revenue from Federation Account will Nigeria or any state survive? Our leaders must be sincere.

Xmas Bombs in Madalla near Abuja, Jos Plateau & heavy attack on security post in Damaturu, Yobe today.

An explosion occured in Jos close to VIO office. No casulty recorded so far

Bomb explosion at a church in Madalla near Abuja on Xmas Day

Senate approves sack o3 DG BPE all 45 recommendations of its ad-hoc committee which investigated privatisation and commercialisation activities of BPE from 1999 to date

North Korean maximum ruler Kim Jong-il died of a heart attack in a train: ,http://ping.fm/JMav8

Nigeria Airforce confirms death of soldiers following armed attack on its school in Kano. It is alleged to be armed robbery incidence rather Boko Haram wahala

Since Nigeria Senate bans gay & lesbian (same sex) marriage today, hope British Prime Minister, Cameron wont send NATO forces for rejecting his warning

Anti-jonathan during UMYA illness including governors and Senators should watch their back from new EFCC. Farida weaken her case when she exonerated 1st Lady Patience Jonathan of money laundery.

With no-nonsense Ibrahim Lamorde as EFCC boss, Gov. Sylva may be in trouble if he remember how ex-gov Alam of the same Bayelsa and Ex-IGP Tafa Balogun were treated in d past

President Jonathan sacks Farida Waziri and appoints Ibrahim Lamorde as ag EFCC boss

Publisher of Nigeria Guardian newspapers, Alex Ibru dies at 66 year

Drama in Abuja as two petrol tankers caught fire at two different fueling stations within two hour interval today

Doubtful that Nigeria unemployment rate is 23.9% from 21% in 2010 and 19% in 2009 according to National Bureau of Statistics.

The Final list of Nigeria National Honours awardees with 80% working for the government. See the list: http://economicconfidential.net/new/news/national-news/834-nigeria-national-honours-awards-2010-and-2011

See the list of the best and unhealthy banks in Nigeria as at December 2010 from this link: http://ping.fm/Avne1

Final List of National Honours Awardees 2010- 2011 and Ranking of Best and Unhealthy Banks in Nigeria

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

Nigeria: National Honours Awards 2010 and 2011

The Federal government of Nigeria has released the list of 2010 and 2011 National Honours Award recipients. The Economic Confidential has discovered that over 80% of the awardees came from the public sector as either public officers or political appointees. Less than 15% of the recipients are actually from the private sector including the tradition rulers, religious leaders and artists whose individual contributions were considered for the awards. See the entire list: http://economicconfidential.net/new/news/national-news/834-nigeria-national-honours-awards-2010-and-2011

The Ranking of Nigerian Banks by Shareholders Funds and Ownership Structure

The Economic Confidential has discovered that before the intervention of Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC) in the banking sector in 2011, as at December 2010, nine of the banks had huge negative shareholders' funds. Only 10 banks have been very healthy while some on danger list. See the banks, shareholders funds and ownership structure: http://economicconfidential.net/new/financial/monetary/832-the-ranking-of-nigerian-banks-by-shareholders-funds-

Saddam, Gaddafi and the Arabs – An African Perspective

Arab... Arab... Arab. The funny tribe. After watching the graphic video clips of Saddam hanging in Bagdad and the way he was taunted by Iraqi officials at the gallow in December 2006, on the day Muslims were celebrating the Eid- Adha, the worst similar scenario played out on Ghaddafi of Libya. The hypocrisy, culpability and gullibility of Arab leaders and their citizens are glaring. Read the other sides of Ghaddafi on Africa and Africans: http://economicconfidential.net/new/features/808-saddam-gaddafi-and-the-arabs--an-african-perspective

German firm eyes investment in Oyo State

As part of efforts towards attracting foreign investments to Oyo State, Governor Abiola Ajimobi has wooed German Intervention Development Partners to the state. Read: http://economicconfidential.net/new/news/state-news/822-german-firm-eyes-investment-in-oyo-state

Emergency Toll Free Phones and Call Centre Soon- NEMA

The National Emergency Management Agency (NEMA) would acquire toll-free emergency numbers and create call centre in the first quarter of 2012 for contacts by people in distress to call for necessary assistance from response agencies. Read: http://economicconfidential.net/new/news/national-news/812-emergency-toll-free-phones-and-call-centre-soon-nema

AGF Tasks Institute of Taxation on Prompt Collection of Taxes

The Accountant-General of the Federation, Mr. Jonah Ogunniyi Otunla, has tasked the Chartered Institute of Taxation of Nigeria (CITN) to be proactive about tax collection, stating that it is the necessary aspect of generating revenue. He said this when the Institute members paid him a visit in his office in Abuja. Read: http://economicconfidential.net/new/news/national-news/817-agf-tasks-institute-of-taxation-on-prompt-collection-of-taxes

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finally Jonathan's PDP screens out Bayelsa Governor Sylva, Ben Murray-Bruce, two others from contestng governorship election in 2012

Dangote Others for President in 2015, FAAC Sharing of N1 trillion 500 US Dollars to States

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebookhttp://www.facebook.com/economicconfidential and http://www.facebook.com/economicmagazine

2015 President In The Waiting: Who Amongst These Men? 

While this report highlights the frontrunners towards the Presidential election in 2015, the Economic Confidential does not rule out the emergence of a dark horse; an unpopular person that could sneak in to prominence and win the elections. In this investigation on underground campaigns are focused on the major contenders as we provide briefs on each including Aliko Dangote, Namadi Sambo, Atiku Abubakar, David Mark, Bukola Saraki and the Dark Horse.... Read the full detail: http://economicconfidential.net/new/features/835-2015-president-in-the-waiting-who-amongst-these-men-

FAAC: How They Share N1 Trillion and $500 Million after Protest in November 2011 and Breakdown to Each state 

The Economic Confidential magazine provides how the distribution of a total sum of N1 trillion being the statutory and VAT allocations and an additional Special Grant of $500 million shared to all tiers of government were made after a protest at the meeting of the Federation Account Allocation Committee (FAAC) in October 2011. Not only in Naira but US dollars were distributed. The highest recipients of naira components are from the oil producing states with Rivers receiving N22.4bn, Akwa Ibom N21.9bn, Delta 21.8bn and Bayelsa N13.7bn. Read the full detail: http://economicconfidential.net/new/financial/facts-a-figures/833-faac-how-they-share-n1-trillion-and-500-million-after-protest

How Removal Of Fuel Subsidy Will Help The Economy-FIRS 

……FIRS says it didn't disagree with FG on subsidy. The attention of the  Federal Inland Revenue Service has been drawn to news stories reported in several newspapers today, Monday 31st October 2011, stating that the agency is in disagreement with the  Federal Government on the planned removal of oil subsidy. There were various strands of the same report in several dailies, suggesting that there is a crack within government over the economic policy direction of the Federal Government. Read full: http://economicconfidential.net/new/financial/tax-matters/824-how-removal-of-fuel-subsidy-will-help-the-economy

Sovereign Wealth Wahala!

The phrase, 'Sovereign Wealth Fund', SWF, may sound like 'big grammar' to the average layman, who, with little education, represents the critical mass of our population.  It may not be enough to explain that SWF is similar to personal or family savings because the majority of our poverty stricken citizens, who live on the proverbial $2 a day have never been blessed with surplus income to permit the luxury of savings for basic need of food for more than a day or two at any one time!Read: http://economicconfidential.net/new/features/806-soveriegn-wealth-wahala

That A New Nigeria May Come Forth

Last week's bombings and gunning down by Boko Haram of innocent Nigerians in Maiduguri and Damaturu during the November Muslim holiday period, including attacks on churches, clearly make the mission of the group completely confusing. The news that there are now three factions of the group with different preferences and inclinations further shows that the Boko Haram is yet to position itself as a means to a definite end. Read: http://economicconfidential.net/new/features/807-that-a-new-nigeria-may-come-forth

The Problems of Public and Private Universities in Nigeria

The major aim of establishing tertiary institutions is to build high-level manpower for national development. It is a place where people acquire the needed tools; social, mental and intellectual skills, which will be required by the beneficiary to become self-reliant and resourceful member of the society.Read: http://economicconfidential.net/new/features/803-the-problems-of-public-and-private-universities-in-nigeria

Fuel Subsidy And AIDS (Acquired Integrity Deficiency Syndrome)

Within last week, CAN the umbrella body of Christians through its leadership have lent its support to the removal of subsidy, and before them were some select group of 'government-business' people. As all these noise increases, the governors are speaking from both sides of their mouth. NLC is given terms for its support and the National Assembly is summoning everyone and everything. Read http://economicconfidential.net/new/features/805-fuel-subsidy-and-aids-acquired-integrity-deficiency-syndrome

Is Corruption a Good Business in Nigeeria

On the way to Ibadan from Lagos, just after crossing the first of the concrete bridges on that most horrible and dangerous of roads called Lagos/Ibadan Expressway (more like expressway to hell) on the Lagos/Ogun States border, on the right you will see the business empire of one Otunba Ghadaffi (SAN), and the sign saying "SHIT BUSINESS IS GOOD BUSINESS", referring to the commendable fact that he has departed from being a lawyer and made a fortune in dealing with what most of us are repugnant of – waste and environmental management. Read: http://economicconfidential.net/new/features/831-corruption-is-good-business

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Secret campaigns for Presidential election 2015, who among Namadi, Atiku, Mark, Saraki or the dark horse?
http://ping.fm/Cg9fx

Today: 11/11/11 could only occur after 1000years. Add the last 2 digit of your year of birth with your age now: D result for everyone is either 111 or 11 or 1. Happy mystic and good Friday

Nicolas Sarkozy, French leader described Israeli PM Netanyahu a “liar” to President Obama of US.
http://ping.fm/j3dgG

Obama aide said: 'No Aliens On Earth and no credible evidence of extraterrestrial presence here on Earth
http://ping.fm/Lubxs

Websites of Israel's military and its intelligence services down after a hacker's threat.
http://ping.fm/5XQXn

Nigeria actor Babatunde Omidina, aka Baba Suwe, regains freedom after 24 days in NDLEA custody today without excreting d expensive shit

Nigeria now ranks 6th in world population, displaces Pakistan, behind China, India, US, Indonesia & Brazil- UNFPA

In 1988, President of student Union Uni Jos, Labaran Maku called removal of oil subsidy by IBB "criminality and inhumanity against Nigerians." But today as Information Minister he said "oil subsidy removal is long overdue." A Nigerian politician!!!

Media Outfit Offers N1 mililion for Baba Suwe on Exclusive Shit Story after excreting 3 times in 7 days under strict surveillance and without any trace of hard drug: http://ping.fm/uvqWZ

How could 4 ex-governors had d gut to misappropriate N153 billion from the Federation Account? Yet one of them is an elected federal legislator. More will soon be arrested by EFCC. Read
http://ping.fm/U6scs

Economic Confidential magazine shows how N1 trillion Naira was shared in September to tiers of govt in Nigeria from FAAC. Some states received over N24 bn each others recvd less than N6bn. Check: http://ping.fm/hu1Kn

The 5 Amazons in President Jonathan Cabinet as FAAC Shared N1trillion in September

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

 

The Amazons in the Cabinet of President Jonathan
Investigations by the Economic Confidential revealed that the Amazons in Jonathan's cabinet are strong-willed, powerful and influential, in some cases very controversial female figures whose actions and even inactions could have different meanings. The Ministers control sensitive and in some cases so-called juicy ministries as they oversee their respective ministries, parastatals and agencies.
Read: http://economicconfidential.net/new/features/782-the-amazons-in-the-cabinet-of-president-jonathan

FAAC: The Sharing of N1 Trillion in September 2011
The Economic Confidential magazine provides the distribution of a total sum of N1.0 trillion being the statutory and VAT allocations shared to all tiers of government as well as special transfer to Excess Crude and Non-Oil Excess Revenue Accounts at the September 2011 meeting of  Federation Account Allocation Committee (FAAC). While some states received over N24 billion each others received less than N6 billon each. Check the table of the ditribution.
Read: http://economicconfidential.net/new/financial/facts-a-figures/796-faac-the-sharing-of-n1-trillion-in-september-2011

EFCC: Ex-Governors Misapproprite M153bn from the Federation Account
As the Economic and Financial Crimes Commission, EFCC is still conducting investigation on some former governors who are yet to be arrested over allegations of mismanagement and diversion of funds while in office, the Economic Confidential has gathered that over N153 billion was misappropriated by four ex-governors that were held recently by the anti-corruption agency.
Read: http://economicconfidential.net/new/news/state-news/783-efcc-ex-governors-misappropriated-153bn-from-federation-account

Toll Gates Return on Highways Soon - Minister of Works
The Minister of Works, Arc. Mike Oziegbe Onolememen in this interview discloses some new developments in his ministry as regards the Transformational Agenda of President Goodluck Jonathan after his 100 days in the office and said the government will return Toll Gates on Highways. The Economic Confidential as usual presents salient points of the interaction.
Read: http://economicconfidential.net/new/interviews/772-toll-gates-return-on-highways-soon-minister-of-works

On Fuel Subsidy Removal: Facts And Falsehood
The recent revelation of the avowed intention of the Nigerian federal government to remove fuel subsidy and devalue the national currency (the naira) in 2012 should not surprise Nigerians who have observed the conduct of government in Nigeria in the past twelve years.
Read: http://economicconfidential.net/new/features/790-on-fuel-subsidy-removal-facts-and-falsehood

Cement: Dangote signs $750 million investment agreements in Congo, Ethiopia
In continuation of its investment expansion drive, the Pan-African Conglomerate, the Dangote Group has signed fresh investment agreements worth $750 million with the government of two African countries for the production of cement.
Read: http://economicconfidential.net/new/business/799-cement-dangote-signs-750-million-investment-agreements-in-congo-ethiopia

RMAFC Charges NNPC, Others to Stamp Out Oil Theft
The Chairman of Revenue Mobilization Allocation and Fiscal Commission(RMAFC), Engr. Elias Mbam has charged the Nigerian National Petroleum Corporation(NNPC) and other stakeholders to stamp out oil theft and pipeline vandalism in order to boost oil revenue generation.
Read: http://economicconfidential.net/new/interviews/794-rmafc-charges-nnpc-others-to-stamp-out-oil-theft

Another Useless Debt burden
In her maiden address to journalists on Wednesday, 24/08/2011, the Coordinating Minister of the Economy and Minister for Finance, Dr. Ngozi Okonjo-Iweala, alerted Nigerians that Nigeria's domestic debt was about N5.2 trillion ($33bn), while external component is about $5.3bn.
Read: http://economicconfidential.net/new/features/779-another-useless-debt-burden

Airtel Does Not Employ Casual Staff and Did Not Sack Any Employees
…Seeks Supports for Facilities
Lagos, Nigeria: Airtel Nigeria refers to media reports today, Wednesday, October 5, 2011 regarding a press conference by the Nigeria Labour Congress (NLC) accusing our organization of casualisation.
Read: http://economicconfidential.net/new/business/800-airtel-does-not-employ-casual-staff-and-did-not-sack-any-employees

Shariah Banking: Middle-East Funds To The Rescue?
Others participants called for the introduction of Christian Banking models, while some simply said that the name Non Interest Banking should be used in place of Islamic Banking. Considering the issue of corporate governance in Nigeria, one of the participants hopes that some of the Islamic Banks do not begin to call out for bailout funds shortly after establishment. Another major worry is that Muslims will be encouraged to move their deposits from the conventional banks into the Islamic Banks, thereby causing financial chaos in the conventional banks.
Read: http://economicconfidential.net/new/features/788-shariah-banking-middle-east-funds-to-the-rescue

The North In The Context Of Modern Nigeria
There are many reasons to worry about the recent happenings in the country and especially the restiveness that engulf a larger part of Northern Nigeria. Once upon a time, Northern Nigeria was a peaceful, vibrant and promising region with a large ethnic group living side by side with its minority ethnic groups harmoniously.
Read: http://economicconfidential.net/new/features/787-the-north-in-the-context-of-modern-nigeria

UNODC study shows that homicide is highest in parts of the Americas and Africa
Vienna. 06 October 2011. The United Nations Office on Drugs and Crime (UNODC) has released its first Global Study on Homicide. The Study shows that young men, particularly in Central and South America, the Caribbean, and southern and central Africa, are at most risk from intentional homicide but that women are at highest risk from murder due to domestic violence. There is evidence of rising homicide rates in Central America and the Caribbean, which are "near crisis point", according to the Study.
Read: http://economicconfidential.net/new/news/national-news/798-unodc-study-shows-that-homicide-is-highest-in-parts-of-the-americas-and-africa

Day Al-Hikmah University Honoured Shekarau
The Al-Hikmah University, Ilorin a private institution whose founders envisioned with the noble philosophy of promoting academic and moral excellence in Nigeria in choosing to honour men who had distinguished themselves in positions of trust, this young institution is punching above its youthful weight while making a strong case for a glorious reputation.
Read: http://economicconfidential.net/new/features/792-day-al-hikmah-university-honoured-shekarau

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Economic Confidential

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Nigeria's Economic Magazine

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D profile of ex-MD NNPC late Ladan Shehu when he was appointed b4 he was sacked for political reasons: http://ping.fm/2sJKt

3 Nigerians from Southern part of d country were Killed in Libya publicly by NTC on allegation that they support Ghaddafi. D execution was done like Ileya/sallah ram looking at their executioners brandishing weapons of death.

Gen. Danjuma Foundation donates $100 million to NGOs in Taraba State Nigeria. Some rich ppl are benevolent: www.ngrguardiannews.com/index.php?option=com_content&view=article&id=63047:n-danjuma-foundation-unveils-n15b-package-for-the-poor&catid=1:national&Itemid=559

8 Ex Niger Delta Militants from Nigeria who are in Philippines for study under amnesty program hv bn arrested over sex with minors: www.africanspotlight.com/2011/09/8-nigerian-students-arrested-over-sex-trade-in-philippines/

For fear of bomb from Boko Haram or Niger Delta Militants, Abuja city is deserted as Nigeria clocks 51 today

Going to Jos, Plateau and Bauchi Nigeria on emergency assignment. I pray and triple my prayers!!!

Wikileaks exposes Gov. Jang of Plateau, Nigeria on Al-qaida, indigene- settler rivalries and false claims on immigrants in Jos: http://ping.fm/yzZCF

Wahala de! CBN to investigate 7 banks for alleged round trpping of foreign exchange in Nigeria

How CIA ans other foreign intelligence agencies collaborated with Ghaddafi of Libya only to hoodwink the world. Read: http://ping.fm/yAaK9

More than 100 killed by overflooding after dam breakage in Nigeria biggest city. Read: http://ping.fm/EDcd4

A picture of Black African about to be matchet to death by Libyan Rebel very disgusting when there are more Black Arabs: http://ping.fm/aNev3

Rebels in Libya kill Blacks including Nigerians. They believe in Arab -ism than African -ism against Ghaddafi AU spirit: http://ping.fm/g17lr

Nigeria gangs of politicicians, kidnappers, security guys, pen & armed robbers pretending to b Boko Haram bombers will soon b exposed

Rather than seeking Nigeria supports, Head of Libya Rebels appeals to African Union (AU) to recognise anti Ghaddafi forces so it could access funds: http://ping.fm/Eg1H1

President Jonathan describes attack on UN Building as assault on global peace and security, promises to bring perpetrators to justice

Rescue operators suspend search for survivors in UN House Abuja after suicide bomb to allow visit of President Goodluck of Nigeria today

Economic Confidential gathered from UN Building Abuja that a suicide bomber rammed a vehicle with explosion into it

UN building explosion in Nigeria: 9 dead bodies, 22 unconcious victims more seriously injured. Economic Confidential confirmed authoritatively

NEMA team to give details over an explosion in United Nations (UN) building in Abuja, Nigeria

Pilgrims in tears at holy mosque Mecca as Imam prays unity among Muslims. Didnt mention Libya, Egypt, Syria, Gaddafi or Assad. Msg clear over sad wars & killings

Impacts of Ghaddafi vs Rebel NATOwar Libya on global economy and oil price: http://ping.fm/9M8ZZ

OIL: The reason for war in Libya and removal plan on Gaddafi now emerges. Read: http://ping.fm/DPNuB

The factual figures on salaries and allowances of legislators in Nigeria here: http://ping.fm/is9Mg

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

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

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

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

 

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

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

 

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Facts on Salaries of President, Ministers, Federal Legislators and Judges in Nigeria

The Economic Confidential online, your factual,authoritative and acessible magazine is back after going through technical challenges which made it to upgrade with new and secure features.

While the monthly printed editions remains mostly available by subscription, the online version will continue to provide regular updates with our facts and figures. To read our recent interviews and salaries of President, Vice President, Ministers, Federal legislators and Judicial office holders go to:
www.economicconfidential.com or www.economicconfidential.net

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Jumbo Payment to Bayelsa Suspended, CBN Extends Deadline to Bank Customers

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook www.facebook.com/economicconfidential.

RMAFC suspends Jumbo Concession to Bayelsa from Derivation Funds

The newly appointed members of the Revenue Mobilisation Allocation and Fiscal Commission, at an emergency plenary session in Abuja has suspended special concession granted to Bayelsa State for  derivation fund from three oil wells which made it the leading oil producing state in Nigeria. I t has so far earned over N15bn over and above what it could have normally earned from derivation fund... Read:

http://www.economicconfidential.com/x/index.php/national-news/596-rmafc-suspends-jumbo-concession-to-bayelsa-from-derivation-funds

CBN Extends Deadline on Update of Bank Accounts

The Central Bank of Nigeria (CBN) has extended the deadline it gave customers of banks to update their information with the financial institutions from December 31, 2010 to January 31, 2011. In a press release from the spokesperson of the bank, Mr. Mohammed Abdullahi said that... Read:

http://www.economicconfidential.com/x/index.php/monetary/595-cbn-extends-deadline-on-update-of-bank-accounts

Pension fund assets hit N1.8trn

The National Pension Commision (PenCom) has disclosed that the cumulative pension fund's assets stood at N1.8 trillion in 2010. The Director General of the Commission, Muhammad Ahmad who made the disclosure in Lagos at a conference of directors of licensed pension operators, listed the asset classes as equities, government securities, money market, corporate bond and real estate, among others... Read:

http://www.economicconfidential.com/x/index.php/national-news/591-pension-fund-assets-hit-n18trn

More Agitations against Multiple Taxation as Tax revenue hits N2tr

The Chairman of Federal Inland Revenue Service (FIRS), Ifueko Omoigui Okauru has disclosed that multiple taxation are inimical to economic development, just as the said that the economic reforms have pushed tax revenue to N2.2 trillion despite all odds... Read:

http://www.economicconfidential.com/x/index.php/tax-matters/580-more-agitations-against-multiple-taxation-as-tax-revenue-hits-n2tr

Femi Ajayi: An International Civil Servant for NDLEA

The newly appointed Director General and Executive Secretary of National Drug Law Enforcement Agency (NDLEA), Mr. Femi Ajayi is a multi-disciplinary professional who is biochemist, journalist and international law expert. Born July 14, 1957 in Ekiti State, he was before his new appointment... Read:

http://www.economicconfidential.com/x/index.php/profile/582-fami-ajayi-an-international-civil-servant-for-ndlea

New Revenue Formula Coming Soon- Chairman RMAFC

The newly appointed Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) recently, after an inaugural meeting of the Commission addressed the press. He was a former Commissioner of Works and Housing in Ebonyi State before becoming Finance Minister of State and Chairman of the Federation Account Allocation Committee (FAAC). He talks about the major issues the Commission would soon addressed. The Economic Confidential was there and presents here the excerpts of the session:

http://www.economicconfidential.com/x/index.php/interviews/581-new-revenue-formula-coming-soon-chairman-rmafc

Bomb Blasts and Conflicting Figures

Every figure released after any disaster whether from identified official channels or anonymous official sources are obviously based on one or combination of factors such as security implications, political consideration and factual reality... We should know that politicians have ways of sending positive and negative signals to their supporters as well as opponents in a season of do-or- die politics, we should therefore not play into their hands... Read:

http://www.economicconfidential.com/x/index.php/features/594-bomb-blasts-and-conflicting-figures

Impacts of Global Meltdown on Mortgage Institutions

About three years ago, President Barak Obama of the United States said "Subprime lending started off as a good idea -- helping Americans buy homes who previously couldn't afford."  Opinion of this nature reflects effectiveness in the operations of Mortgage sector. However, the impacts of the global financial meltdown have also affected the sector which is now faced with many shortcomings resulting to the stagnant in its operations... Read:

http://www.economicconfidential.com/x/index.php/features/578-impacts-of-global-meltdown-on-mortgage-institutions

The good old days

An editor once referred to the 1980's as better than present times. Ironically, the rapid technological advancement of the present time evolved from the desires to make life better and more comfortable.  But how much of these truly affect the lives of the ordinary Nigerian... Read:

http://www.economicconfidential.com/x/index.php/features/575-the-good-old-days

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Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine

www.economicconfidential.com

How They Share 1 Billion Dollars Before Parties' Primaries

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook www.facebook.com/economicconfidential.

New Year Bonus: How a Billion Dollar Was Shared to States Before Primaries of 2011 elections

In what could be considered as Manna from Heaven, the Economic Confidential provides the details of how a total sum of $1 billion was shared from Excess Crude Oil Savings Account among the tiers of government on the eve of New Year 2011. It was at an Emergency Meeting of the Federation Account Allocation Committee (FAAC) on December 31, 2010 were the allocation was shared in a foreign currency, US Dollar... Read:

http://www.economicconfidential.com/x/index.php/facts-a-figures/590-new-year-bonus-how-a-billion-dollar-was-shared-to-states-before-primaries-of-2011-elections

Economic Confidential and 4 Years After

As the world witnesses another New Year, so also is the Economic Confidential which clocks Fourth Anniversary of its simultaneous online and print editions since January 2, 2007. It is a brainchild of seasoned finance journalists and economic writers. Currently our print edition which is largely by subscription and available in selected distribution's outlets, is monthly circulated to all Federal legislators, Commissioners of Finance, AG of States, members of RMAFC, NNNPC, CBN, PENCOM, NEITI, DMO, NDIC, SEC, PTDF, NPC, BPE, OAGF, FIRS, World Bank, Banks' MDs ...Read:

http://www.economicconfidential.com/x/index.php/national-news/592-economic-confidential-and-4-years-after

Again Finance Minister Defends 2011 Budget, Says Overhead Cuts Are to Reduce Deficit

The Federal Government has its decision to cut overheads in the 2011 Appropriation Act by about 30 percent is in line with its Fiscal Consolidation Policy to reduce budget deficit and avoid domestic debt accumulation... Read:

http://www.economicconfidential.com/x/index.php/national-news/584-again-finance-minister-defends-2011-budget-says-overhead-cuts-are-to-reduce-deficit

FG to Monitor MDAs on Budget Implementation

In its bid to realize the goals and objectives of attaining Vision 20:2020, the Nigeria's Government  has again restates it commitment to ensuring transparency and accountability in the spending of the nation's resources within the scope of a performance based budgeting as espoused in the 2011  appropriation  bill presented  by the President to the National Assembly recently...Read:

http://www.economicconfidential.com/x/index.php/national-news/588-fg-to-monitor-mdas-on-budget-implementation

Posting of Federal Permanent Secretaries

The Head of the Civil Service of the Federation, Professor Oladapo Afolabi, has announced the deployment of Permanent Secretaries in the Federal Civil Service as approved by President Goodluck Ebele Jonathan. In the posting circular released in Abuja , three recently appointed Permanent Secretaries received postings; ten have been redeployed while others retained their current postings... Read:

http://www.economicconfidential.com/x/index.php/national-news/583-posting-of-federal-permanent-secretaries

Governor Shekarau presents N109b Budget for 2011

Governor Ibrahim Shekarau of Kano State has presented a budget proposal of N109.5billion for 2011 before the state Assembly which he tagged a 'Budget of Continuity.' He said the 2011 budget is intended to serve as a base for the incoming administration to pursue development objectives based on a long term plan... Read:

http://www.economicconfidential.com/x/index.php/state-news/587-governor-shekarau-presents-n109b-budget-for-2011

Governor Akpabio Presents N309 billion for 2011 budget

Governor Godswill Akpabio of Akwa Ibom State, has presented a total sum of N309.509 billion for the 2011 appropriation bill of to the State House of Assembly with special emphasis on industrialization, security, healthcare, education, completion of ongoing people-oriented projects among others... Read:

http://www.economicconfidential.com/x/index.php/state-news/586-governor-akpabio-presents-n309-billion-for-2011-budget

Governor Geidam of Yobe Present N64bn for 2011 Budgets

Governor Ibrahim Geidam of Yobe State has presented a total sum of N64, 264, 000, 000 for the 2011 budget, which represents a decrease of N873, 209, 386 or approximately 1.4 per cent compared to what was budgeted for in 2010... Read:

http://www.economicconfidential.com/x/index.php/state-news/585-governor-geidam-of-yobe-present-n64bn-for-2011-budgets

Still on Zero Interest Banking in Nigeria

Nigeria experienced a tremendous lift in its financial sector with the giant strides and people-oriented reforms by the Central Bank of Nigeria (CBN). Although there are mixed feelings about this reforms in some quarters, others opined for a banking regime that will compliment the ills of the commercial banking with a zero interest based banking system also known as the Islamic Banking System... Read:

http://www.economicconfidential.com/x/index.php/features/579-still-on-zero-interest-banking-in-nigeria

2011 Election: Working People Must Have Genuine Political Voice

The coming 2011 elections is being heralded by bourgeoisie politicians with public statements canvassing that it is a period in which the history of the country will be rewritten .As matters stand,the mass voters' registration by January is being canvassed as opportunity for working masses to put their electoral rights into use... Read:

http://www.economicconfidential.com/x/index.php/features/576-2011-election-working-people-must-have-genuine-political-voice

Herbs as Healing Spices for Cooking

This column "The Homemaker" in the first month of the News Year 2011, looks at herbs and healing spices for cooking delicious meal at homes. Essentially, spices are dried seeds, fruits, roots, or vegetative substances used nutritionally. Some are leafy in nature in the forms of bay leaves, peppermint leaves among others, and they have their wonderful usages... Read:

http://www.economicconfidential.com/x/index.php/features/593-herbs-as-healing-spices-for-cooking

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Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine

www.economicconfidential.com