Thursday, 10 September 2015

FAAC Distributes N600bn... Hezbollah Connection: Amigo and Wonderland Park Change Names


Latest from the Factual, Authoritative and Accessible Economic Confidential

Hezbollah Connection: Amigo Supermarket, Wonderland Park Change Names
Why did popular Amigo Supermarket and Wonderland Amusement Park in Abuja change their name? Economic Confidential provides the details: Read: http://economicconfidential.com/hezbollah-connection-amigo-supermarket-wonderland-park-change-names/
 
FAAC Distributes N600bn for July at August Meeting
Again Akwa Ibom got highest allocation N16bn, folows by Lagos N15bn, Delta, Kano, Rivers got 11bn each. The lowest recipients are Gombe, Ekiti, Ebonyi State who got N4bn each from Federation in August. Read: http://economicconfidential.com/faac-distributes-n600bn-for-july/
 
Go To Hell: CBN Tells JP Morgan
The Central Bank of Nigeria (CBN) has reacted angrily to decision by JP Morgan to phase out the country from the Government Bond Index for Emerging Markets (GBI-EM). Read: http://economicconfidential.com/go-to-hell-cbn-tells-jp-morgan/
 
Danteni Mordecai: Championing Efficiency in DPR
In less than two months of his appointment as the most senior and competent officer in his agency, the Director Petroleum Resources, Ladan Danteni Baba Mordecai has made huge impact in the oil and gas industry. Read: http://economicconfidential.com/8395-2/
 
Exploring Potentials of Tourism as Revenue Spinner
Tourism, one of the earliest industries known to man, essentially involves travelling from one place of interest to another, either for sight-seeing, leisure, adventure, picnic, relaxation/ recreation, holidays, business or just for peace and quietness. Read: http://economicconfidential.com/exploring-potentials-of-tourism-as-revenue-spinner/
 
World Bank to Disburse US$140m for Community Development In Nigeria
The new World Bank president, Jim Yong KimThe World Bank assisted Community and Social Development Project (CSDP) is now set to start disbursing additional $140million (about 30 billion naira) to twenty six states and FCT for community driven projects. Read: http://economicconfidential.com/world-bank-to-disburse-us140m-for-community-development-in-nigeria/

When WTO and Greek Ambassador Visit NEXIM
The Deputy Director of General of the World Trade Organization, Mr.Yonov Fred Agah paid a courtesy visit to NEXIM Bank on Wednesday the 26th of August 2015 to discuss and explore areas of collaboration and synergy between the two organizations. Read: http://economicconfidential.com/when-wto-and-greek-ambassador-visit-nexim/
 
Exploitative DISCOs and Ambiguous National Grid
Although there has been noticeable improvement in electricity supply in the country in recent time, this however, cannot obscure the fact that the power generation and supply targets envisaged under the privatization arrangement has not been met. The private firms handling the business are more concerned about profit making at expense of the State and citizens' comfort.Read: http://economicconfidential.com/exploitative-discos-and-ambiguous-national-grid/

Nigeria Power Sector: The Pains And The Gains, What Next?
Power generation in Nigeria was 1,750 MW in 1999 when the military exited the stage for democratic governance. The issue became worse after the transition of government in 1999 from the military regime to civilian regime. Read: http://economicconfidential.com/nigeria-power-sector-the-pains-and-the-gains-what-next/

Ministers, CEOs Of MDAs Must Declare Assets Publicly – Ex-Finance Minister
A former Minister in Jonathan's administration advocates Payment of 10% offorfeited undeclared assets to whistle blower because Nigeria's Culture of Impunity Is Bane of Endemic Corruption. He explains he resigned from Jonathan's Cabinet... Read: http://economicconfidential.com/curbing-corruption-ministers-ceos-of-mdas-must-declare-assets-publicly-ex-finance-minister/
 
Buhari, Service Chiefs And Three Months Deadline
Can the new security service chiefs meet the three months Presidetial directive to to finish the Boko Haram terorists by November 2015? Some current indices and factors regarding the operation are quite clear on how President Buhari intends to achieve the mission. Read: http://economicconfidential.com/buhari-service-chiefs-and-three-months-deadline/

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Nigeria's Economic Magazine


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Sunday, 9 August 2015

FIRS Generates N2Trillion in 6 Months- Ogungbesan

Latest from the Factual, Authoritative and Accessible Economic Confidential
 
FIRS Collects N2 Trillion In Six Months- Ogungbesan
Chairman of the Federal Inland Revenue Service (FIRS), Mr. Samuel Ogungbesan has disclosed that the service generated an unprecedented N1.97 billion into the federation account within the first six months of 2015 in spite of harsh economic conditions. How providing how the revenue was generated with collection of N746bn in June 2015 as the highest in a single month. Read: http://economicconfidential.com/firs-collects-n2-trillion-in-six-months-ogungbesan/
 
Deposit Insurance Now Taught In Nigerian Universities
The Nigeria Deposit Insurance Corporation (NDIC) has introduced deposit insurance system (DIS) into the curricula of Nigerian universities and other tertiary institutions as part of the on-going efforts toward enhancing public awareness on its mandate and operational activities. Read: http://economicconfidential.com/deposit-insurance-now-taught-in-nigerian-universities/
 
FAAC Shares N630Bn In July 2015
Good times may just be here for beneficiaries of the federation account as there was relative increase in the distributable revenue for the month of June shared in July despite continuous drop in global oil prices. Exclusive documents available to Economic Confidential revealed that a total of N630bn. The highest and lowest recipients are also listed.  Read: http://economicconfidential.com/faac-shares-n630-732bn-in-july/
 
Buhari Lambasts Mines and Steel Officials
This is the worst briefing I have received! President Muhammadu Buhari berated officials of the Federal Ministry of Mines and Steel Development for failing to properly manage the affairs of the sector. "This is one of the most demoralizing briefs I have received. The biggest threat to this country besides the Boko Haram is unemployment and the mining sector is key to employment creation."
 
Forex Restriction and National Interest
The Central Bank of Nigeria (CBN) has again, tighten the noose on the economy by denying importers of certain goods access to foreign exchange at the official market, emphasizing the need to curtail indiscriminate importation of some goods that could be produced.
 
Despite Serving Poison, Chocolate Royale Got VIP Treatment From NAFDAC
A tweet from an apparent member of the Moussalli family, Saada Elias Moussalli has caused outrage over the shutting and unprecedented quick reopening of Chocolate Royale and its sister restaurants in Lagos by the National Agency for Food Drugs Administration and Control (NAFDAC). Tweeting under the ashtag @saada_et, she wrote "You are all ignorant Nigeria is not made on newshpapers" and "So expired food for 20 years and nobody get sick so this is fantastic we all should go for expired food haha"
http://economicconfidential.com/despite-serving-poison-chocolate-royale-got-vip-treatment-from-nafdac/
 
Wilmar Under Scrutiny For Land Grab In Nigeria
A new report scrutinizes leading global palm oil trader Wilmar International Ltd. (WLIL.SI) for abuses of human and environmental rights in a large-scale land acquisition in Cross River State. The report, jointly released by Friends of the Earth U.S. and Environmental Rights Action-Nigeria, exposes Wilmar's destruction of High Conservation Value areas, including community food-producing areas and water sources essential to local communities.
 
Sambo Dasuki: An Encounter With The Spymaster
Dasuki disclosed how himself and two young military officers (they are still alive) travelled to Jos to brief Major General Buhari who was then the GOC of 3rd Armoured Division on the furtherance of the planning of the 1983 coup which made Buhari the major beneficiary of the ouster of the elected President Shehu Shagari. Read: http://economicconfidential.com/sambo-dasuki-an-encounter-with-the-spymaster/
 

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Factual, Authoritative and Accesible
Nigeria's Economic Magazine
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Wednesday, 24 June 2015

How GEJ, NASS Killed Yar'Adua's 2009 Salary Review Efforts as States N418bn June 2015

Latest from the Factual Authoritative and Accessible Economic Confidential

Exclusive: How Jonathan, NASS Killed Yar'Adua's 2009 Salary Review Efforts
17,474 Political Officers Earn N1.1 trillion annually
In an exlusive report, the Economic Confidential gathered that a report was submitted to President Yar'Adua for the review of salary and allowances of public officers, which he promptly forwarded to the National Assembly in form of bills for legislation. Unfortunately, the legislators were never debated upon until the death of President Yar'Adua. Read: http://economicconfidential.com/exclusive-how-jonathan-nass-killed-yaraduas-2009-salary-review-efforts/
 

Federal Allocation For The Month Of May 2015 Is N418.452billion.
The Federal Government, State governments and Local government Councils have shared a total of N418.452billion as Federal allocation in June 2015. A communique issued by the Federation Accounts Allocation Committee  (FAAC) indicated that the Gross Revenue received for the month of May,2015  was N324.061billion.  Read: http://economicconfidential.com/federal-allocation-for-the-month-of-may-2015-is-n418-452billion/

FG Insists On Recovering Stolen Funds From Past Officials
President Muhammadu Buhari on told past officials of government who looted the treasury but felt that they have been forgiven their sins to perish such thoughts. President Buhari vowed that funds stolen by government officials who abused their offices in the recent past will be recovered and systemic leakages stopped: Read: http://economicconfidential.com/fg-insists-on-recovering-stolen-funds-from-past-officials/
 
Succour As NLNG Pays $1.6 Bn Tax To FG
A major financial succour came the way of newly inaugurated administration of General Muhammadu Buhari from the Nigerian Liquefied Natural Gas (NLNG) in the form of $1.6 billion tax paid to the Federal Inland Revenue Service (FIRS). http://economicconfidential.com/succour-as-nlng-pays-1-6-bn-tax-to-fg/
 
Nigeria Produced 1.91m Barrels Of Crude/Day In April
Nigeria's crude oil production, including condensates and natural gas liquids averaged 1.91 million barrels per day (mbpd) or 57.30 million barrels in April 2015, figures from the Central Bank of Nigeria (CBN) indicate. The figure represented an increase of five per cent above the level of 1.82 mbd or 56.42mbpd recorded in the preceding month. Read: http://economicconfidential.com/nigeria-produced-1-91m-barrels-of-crudeday-in-april/
 
NDIC Gives Clean Health Bill To Nigerian Banks
The Nigeria Deposit Insurance Corporation (NDIC) says Nigerian banks are in good financial position to carry on banking activities.Read: http://economicconfidential.com/ndic-gives-clean-health-bill-to-nigerian-banks/
 
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Wednesday, 10 June 2015

Bribery, Nepotism Rock Promotion in Para-Military Agencies

Latest from the Economic Confidential

30 Key Quotes From President Buhari's Inaugural Speech
The Economic Confidential presents 30 Key issues raised by President Muhammadu Buhari of Nigeria in his Inaugural Speech at the swearing-in ceremony on Friday May 29, 2015. The issues raised are loaded with powerful messages and brilliantly delivered in quotable quotes by the new President of the most populous nation in Africa. Read: http://economicconfidential.com/30-key-quotes-from-president-buharis-inaugural-speech/
 
Bribery, Nepotism, Irregularities Rock Promotions In Para-Military Agencies
…Officers Pay N2m For Promotion …Victims Urge Probe
A strange combination of dejection and a spirit of rebellion now pervade the air around the paramilitary agencies of the Federal Government under the Ministry of Internal Affairs and directly superintended by the Civil Defence, Fire, Immigration and Prisons Services Board despite the recent mass promotion. Read: http://economicconfidential.com/bribery-nepotism-irregularities-rock-promotions-in-para-military-agencies/
 
A.P Moeller-Maersk To Build $2billion Port In Badagry
A.P Moeller-Maersk A/S is at the verge of winning a lucrative contract to build a new port worth over $2billon in Badagry area of Lagos state, Nigeria. The Danish company which has expanded its African operations is waiting for final sign-off on the contract according to its company's senior vice president for Africa, Lars Reno Jakobsen. Read: http://economicconfidential.com/a-p-moeller-maersk-to-build-2billion-port-in-badagry/
 
U.S. To Resume Oil Export 40 Years After
A bipartisan group of U.S. Senators led by Lisa Murkowski and Heidi Heitkamp introduced a bill Wednesday to lift a 40 year long ban on U.S. crude exports. Read: http://economicconfidential.com/u-s-to-resume-oil-export-40-years-after/
 
Dangote Cement Declares N74.7bn Profit For First Quarter Of 2015
Nigeria's largest cement producer, Dangote Cement, has announced a gross profit of N74.7 billion for the three months ended March 31, 2015. This represents an increase of 10.5 per cent over N67.63 billion recorded in the same period in 2014. Read: http://economicconfidential.com/dangote-cement-declares-n74-7bn-profit-for-first-quarter-of-2015/
 
How Agric Is Restoring Nigerian Economy To Glory
Prior to now, agriculture used to be considered as the nerve of every nation's economy and Nigeria was not an exception. However, what used to be the pivot for growth and development in the past has suddenly been neglected because of oil boom. Read: http://economicconfidential.com/how-agric-is-restoring-nigerian-economy-to-glory/
 
Is Nigeria Really Broke?
Few months ago Nigerians were told by the Finance Minister that Nigeria was not broke but now it is evident that Africa's richest economy is borrowing money to pay salaries as it struggles through a "difficult cash crunch" brought on by halved oil prices, Nigeria's finance minister revealed. Read: http://economicconfidential.com/is-nigeria-really-broke/
 
The Fraud In FCT Mass Housing Initiatives
Investigation by Economic Confidential have revealed myriad headwinds that make Nigeria to be about 17 million in housing unit deficit, according to the Government's figure, and underdeveloped world vis-a-vis inadequacy of decent shelter for the citizens. Read: http://economicconfidential.com/the-fraud-in-fct-mass-housing-initiatives/
 
 
Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine

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