Monday, 13 February 2012

Igbo Businessmen Refuse to Relocate as CAC Register 2mn Companies

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Home Away From Home: Igbo Businessmen Refuse to Relocate from the North

After the directive from the Movement for the Actualization of the Soveriegn State of Biafra (MASSOB) for Igbos in the North to return to their ancestral homes on the allegation that Boko Haram members are targeting people from Eastern Nigeria in their attacks, most Igbo businessmen in Kano have refused to relocate citing conducive business environment in the city.With about a million population of Igbos in the city, and investments of over N20 billion, they have no reason to run away. Read: http://economicconfidential.net/new/news/national-news/910-igbo-businessmen-refuse-to-relocate-from-the-north

CAC Registers 2 Million Business Names, to Delist 50,000 Companies

The Corporate Affairs Commission, CAC, has registered over two million business names as at December 31, 2011 and would soon delist 50,000 companies from its registry. The Registrar General and chief executive officer of the Commission, Barrister Mahmud Bello made the disclosure in an interview with the Economic Confidential. Read: http://economicconfidential.net/new/news/national-news/911-cac-registers-2-million-business-names

Islamic Bank: After $370mn, Nigeria Seeks Additional $600mn Loan

After receiving a sum of $370 million from Islamic Development Bank (IDB) for education, health and agriculture sector, the federal government of Nigeria has requested for a fresh loan of $600 million from the same bank.Read: http://economicconfidential.net/new/news/national-news/909-islamic-bank-after-370mn-nigeria-seeks-additional-600mn-loan

NEXIM Targets N1.6bn Profit -Orya

NEXIM, under the leadership of Robert Ungwaga Orya, has witnessed rapid and sustained transformation that has completely changed the fortunes of the Bank since 2009. Prior to this period, the bank was run in deficit. The MD has disclosed that  said NEXIM targets a profit of N1.6bn as against the N1.1bn in 2011 fiscal year.Read: http://economicconfidential.net/new/news/national-news/906-nexim-targets-n16bn-profit-orya

Memo to Northerners on Diversification

The criticisms and bashing of the North and their leaders could be blessings in disguise if the region could wakeup from its slumber and look inwards. This is the time to call the bluff of the so-called 'resources control' campaigners by harnessing our immense potentials to greatness. Read: http://economicconfidential.net/new/features/912-memo-to-northerners-on-diversification

Three Billion Naira Daily for Insecurity?

We will revisit our analysis of the security sector budget beginning with some clarifications and rebuttal of the Budget Office's right of reply to last week's column titled – "Where el-Rufai Got it Wrong". I commend the Budget Office for choosing to respond this way instead of asking the SSS to arrest me as the President did on July 1, 2011.Read: http://economicconfidential.net/new/features/901-budget-2012-three-billion-naira-daily-for-insecurity

Subsidy: Govt Grants Waiver for Oil Importing Companies– FIRS

The Federal Inland Revenue Service (FIRS) has disclosed that a federal government waiver exempted fuel importing companies from paying tax on petrol, diesel and kerosene, even when they reaped trillions from subsidy payouts. The Executive Chairman of FIRS, Ifueko Omoigui-Okauru made the disclosure at the House of Representatives hearing on how years of subsidy were managed.Read: http://economicconfidential.net/new/financial/tax-matters/897-subsidy-govt-grants-waiver-for-oil-importing-companies-firs

Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine

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