Sunday, 14 November 2010

Accountants from Nigerians Spend N430mn for Malaysia Summit

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


Malaysia Jamboree: 900 Accountants from Nigeria Spends N430mn in a Week
At the recent World Congress of Accountants (WCOA) which took place in Kuala Lumpur Conference Centre, Malaysia over 900 Nigerian Accountants attended the congress that attracted about 6,500 delegates from 157 members and associates of IFAC in about 123 countries. Read: 

Face to Face with Alamieyeseigha
It is an experience this writer will not forget in a hurry. It is such an experience that makes one to wonder about life, its pleasure, its vanity and what forms inner contentment and fulfilment. It was on a trip to Bayelsa state. Read:

Drum of Third World War Beats Louder
Two men to decide the fate of the embattled mankind in a matter of weeks are Benjamin Netanyahu of Israel and Mahmoud Ahmadinejad of Iran. The issue at stake is Iran's determination to achieve deliverable nuclear weapons, which has the inherent potential to spark off the dreaded Third World War. This is presumably so with the Israeli readiness to attack Iran as early as this November 2010. Read:

FIRS Tasks Tax Payers on their rights for better services
Taxpayers have been advised to come together, form associations and pressure groups to address common issues, press for their rights and channel their demands to the government and obtain better services. The Executive Chairman, Federal Inland Revenue Service, Mrs. Ifueko Omoigui Okauru, said this would encourage a two-way communication between the government and taxpayers. Read:


AMCON Board Authorises Purchase of Non-performing Loans
The Board of the Asset Management Corporation of Nigeria (AMCON) concluded its first board meeting today in Abuja, during which it reiterated its mission to acquire non-performing loans across the banking industry, recapitalise the rescued banks and manage the acquired assets. Read:

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Monday, 8 November 2010

Rich and Poor States: How They Share N1tr in Six Months

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

Rich and Poor States: How States Shared N1 trillion Between January to June 2010
The 36 states in Nigeria shared a total sum of One trillion between January and June 2010. In a summary of federal allocations to the states obtained by the Economic Confidential, the online intelligence magazine, within the period South-South states that are mostly oil-producing received the highest total allocation of N386.8billion followed by North-West N162.5billion and South-West N160.7billion. Other regions like North-East got N119.7 billion, North-Central N117.2billion and South-East received N99.4 billion. The full detail of the disbursements and the ranking of rich and poor states is in a table provided by the economic Confidential where for instance Akwa Ibom state alone received a total sum of N104 billion while its neighbour, Cross River only got N18 billion in the six month of the year. Read more and table:

How We Manage Ecological Funds- Odusote
The head of the National Ecological Fund Office is Mrs. Ibukun Abimbola Odusote who is a Permanent Secretary, granted an interview to the Economic Confidential on how her agency manages Ecological Funds. Read more:

Aliyu K. Belgore: An Accomplished Banker for AMCON
In Nigeria the name Belgore is synonymous to law at highest level, but unlike other popular Belgores from the Ilorin Emirate who are lawyers, magistrates and judges, Aliyu Kola Belgore is a thorough bred and an accomplished banker of repute. He was recently confirmed by the Senate of the Federal Republic of Nigeria as the Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON). Read more:

Intellipharmaceutics: A Nigerian owned Company at NASDAQ
This is cheering news to Nigerians as Dr. Isa Odidi and his wife, Dr. Amina Odidi based in Canada were recently honoured by NASDAQ. They were invited by a stock exchange based in the United States of America (NASDAQ) to ring the opening bell before trading began in New York City. They are top pharmaceutical scientists and prolific inventors in Canada whose pharmaceutical company Intellipharmaceutics, has become a success story. Read more:

Nigeria Tasks Commonwealth Citizens On Taxes
At a meeting of 46-member countries of Commonwealth Association of Tax Administrators (CATA), President Goodluck Jonathan tasked citizens of commonwealth countries including Nigerians to pay their taxes so as to have moral justification to hold governments accountable on implementation of development programmes. Read more:


Features
The following features can be accessed from the Homepage: www.economicconfidential.com:

Wanted: change driver, not jingoist by Chijama Ogbu
Pension: A Retirement Income Strategy by Salim Salihu Muhammed
Renaissance Professionals: A Post Mortem by Suraj Oyewale
Cybernetic Solutions to Economic Problem by Oluwaseyi Akanni Olumuyiwa
Sani-Sidi and the Way Forward in NEMA by Manzo Ezekiel
Memories of Colonial Africa: A Nigeria Without Oil by Philip Emeagwali
Mittee Report as Key to Security and development by Law Mefor
Expo 2010 and Greater Port Harcourt Mega city by Prince Nwaokugha Ikeokwu
Tackling Zamfara Lead Poisoning Threat by Bashir Bichi
Poor Northerners! by Aliyu Tilde
An evil that created economic imbalances by Gbenga Okubadejo
Government and Social Responsibility Service by Toyeen Ojo
Book Review: My Country My Home by Abubakar Jimoh

 
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Monday, 4 October 2010

Ribadu on Patience Jonathan, Still on 224 Bad MF Banks

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

Why I am the Best Presidential Aspirant – Nuhu Ribadu

The former Chairman of the Economic and Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu has indicated his interest to contest for the Presidency in 2011. The Economic Confidential was represented at some of his media interactions with selected media in Abuja where he also disclosed all he knew about the case involving the wife of the President, Patience Jonathan Goodluck on alleged money laundering. Click to read:

http://www.economicconfidential.com/x/index.php/interviews/452-i-am-the-best-presidential-candidate-nuhu-ribadu

 

AFRICA: Then, Now and Forever              

By Philip Emeagwali          

This year, in 2010, 17 African nations are celebrating their 50th anniversary of sovereignty and post-colonial rule. Nigeria's journey, like that of the other independent African nations, began at the Berlin Conference 126 years ago with no African in attendance. If colonial Africa could be created in Berlin, then a future Africa could be created in Beijing. Nations creating technological knowledge are reinventing the future and recreating Africa. Click to read:

http://www.economicconfidential.com/x/index.php/features/454-africa-then-now-and-forever

 

Nigeria at 50: Primitivism or Civilisation?

By Dr. Aliyu U. Tilde           

I discovered that almost every country is listed on the store except Nigeria, meaning you cannot purchase anything from Nigeria in that store... Someone told me that a Nigerian customer could access the stores if he claims Niger Republic instead of Nigeria. Niger! Itunes is not the only cyberstore that does not have Nigeria on its list. I have encountered many others before. Click to read:

http://www.economicconfidential.com/x/index.php/features/455-nigeria-at-50-primitivism-or-civilisation

 

The 224 Bad Micro Finance Banks in Nigeria

The Economic confidential produces below the text of the Press Conference by Deputy Governor of Cental Bank of Nigeria (CBN), Financial System Stability (FSS), Dr. Kingsley chiedu moghalu on the status of Microfinance Banks in Nigeria and whose licenses are recommended for revocation. The Nigeria Deposit Insurance corporation (NDIC) has however, immediately after suspended the banks. Click to read:

http://www.economicconfidential.com/x/index.php/monetary/442-the-224-bad-micro-finance-bank-in-nigeria

 

FAAC: How FG and States Shared N550bn in Sept 2010

The Economic Confidential magazine provides the distribution of a total sum of N550 billion being the Statutory and VAT allocations shared to all tiers of government at the monthly meeting of the Federation Account Allocation committee (FAAC) in September 2010. From the table of net disbursements after deductions, the highest recipients are from the oil producing states with Akwa Ibom receiving N16.2bn and Rivers N15.4bn. The highest recipients from non-oil –producing states are Lagos N11.8bn and Kano N9.3bn. for more click to read:

http://www.economicconfidential.com/x/index.php/facts-a-figures/451-faac-how-fg-and-states-shared-n550bn-in-sept-2010

 

PRS Officers to Come Under Planning Commission

In what may be a prelude to moving Planning, Research and Statistics Departments (PRS) in the Federal Civil service to be under the supervision and control of National Planning Commission, the federal government is consulting wildly with various stakeholders. Click to read:

http://www.economicconfidential.com/x/index.php/national-news/448-prs-officers-to-come-under-planning-commission

 

Fake Panel Approved N5bn Contract as Ex-Governor Collected N101mn in Cash

While a principal witness on the trial of former aviation minister insists that a fake committee approves contracts of billions of Naira, another witness in another case confesses that a former governor who is a Reverend Father collected over N100mn in cash to host former President Olusegun Obasanjo. Click to read:

http://www.economicconfidential.com/x/index.php/national-news/441-fake-panel-approved-n5bn-contract-as-ex-governor-collected-n101mn-in-cash

 

Reforming Micro Financing in Nigeria

Across the globe, the Banking Sector plays a vital role in the growth and development of any nation. Since independence to date, there had been various policies and reforms geared towards strengthening the economic backbone; from indigenization to Consolidation in recent past, and Bail-outs, Recapitalization and Institutionalization of Banking Ethics, and the Acquisition of Toxic Assets from banks' books to avert possible collapse in present times. Click to read:

http://www.economicconfidential.com/x/index.php/features/450-reforming-micro-financing-in-nigeria
 
 
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Wednesday, 15 September 2010

Finally Jonathan Declares, IBB too, PDP in Sudden NEC Meeting

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook www.facebook.com/economicconfidential. Click on the READ for full information or visit www.economicconfidential.com
available on the web: www.economicconfidential.com

Finally Jonathan Declares, IBB and PDP Sudden NEC Meeting
While President Ibrahim Babangida was busy declaring his intention to contest at the Eagle square in Abuja at the time PDP suddenly decided to also hold its NEC meeting, President Goodluck Jonathan was busy writing his script. Jonathan has therefore officially declared his intention to contest in his Social Network Page (facebook). Read the politics and the text of Jonathan's declaration... READ here: http://www.economicconfidential.com/x/index.php/national-news/436-goodluck-finally-declares-for-the-presidential-election-on-facebook
 
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Monday, 13 September 2010

Atiku Drops Bombshell as Hacker Attack NASS Web

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook www.facebook.com/economicconfidential. Click on the READ for full information or visit www.economicconfidential.com
available on the web: www.economicconfidential.com

INTERVIEW:Things Can Change Within 12 hours to Elections- Atiku Abubakar
Atiku Abubakar told the Economic Confidential that "as diverse as we are, we have the capacity to come together in less than 12 hours. In 2003 convention, it was within few hours that we decided that let us give it to this man within 12 hours, even at the convention ground states were calling to ask; should we still vote for this man or that man?So do not underestimate the capacity of the north to come together within 12 hours..." READ

Hacker attacks National Assembly Website
As Nigerians enjoy a public holiday to celebrate Islamic festival of Eid-Fitr a hacker has defaced the official website of the National Assembly, the bicameral legislature and the highest elective law-making body in Nigeria. The Economic Confidential, an online economic magazine discovered that some pages of the website were defaced by a user named 'Navid Karimi' without giving his true identity and reasons for the attack. READ
 
Hajia Yabawa Wabi: A Female Accountant for FAAC
Apart from having distinctions in WAEC and Upper Credit in Bsc Accounting, another interesting story of this new Finance Minister of State, Hajia Yabawa Wabi is that her sisters are wives to governors, minister, while her brothers are federal legislators.A female chartered accountant from the Northern Nigeria, she is a housewife and working mother. READ

Federation Account: How They Share N607bn in July 2010
The Economic Confidential magazine provides here the distribution of a total sum of N607 billion being the Statutory and VAT allocations shared to all tiers of government in July 2010. From the table of net disbursements, the highest recipients are from the oil producing states with Akwa Ibom receiving N17.4bn, Rivers N15.7bn, Delta N9.6bn, Bayelsa N5.5b. The highest recipients from non-oil –producing states are Lagos N12.5n and Kano N9.4bn. READ

Still on Reforming the Public Service
Unlike in the private sector where merit is the keyword for promotion, in the public service, it takes some hardworking staff many years to be considered. It seems without the death or termination of appointment of workers, vacancies for elevation may be elusive because the senior and aging civil servants consistently update their ages backwards to remain in the service by refreshing their birth documents and dyeing their hair. The attitudes of those true "Senior Servants" delay others' promotions and deny fresh recruitments.READ

Goodbye to 'UP NEPA!'
"Up NEPA!" is the shout of joy which rends the air as soon as electricity supply is restored to our homes after power blackout. This kind of shouts are not heard in advanced countries or even smaller developing countries like Benin Republic and Ghana because they have steady supply of electricity, this explains why some of our indigenous companies and industries have relocated to Ghana and Benin Republic. READ

Still on Universal Banking System
The decision of the apex bank to shut down the operation of the subsidiaries of some of the nation's deposit money banks has continued to cultivate fear not only in the mind of the banks' stockholders, but also the employees of the various subsidiaries. The action is seen as a measure to attain specialized and sound banking culture among the banks in Nigeria. READ

Nigeria @50: A Quest for Economic Independence
The attainment of economic independence is a key marker of the contemporary transition for any nation into adulthood. It is fascinating to know that Nigeria is celebrating her 50th political independence anniversary amidst the illusion of economic growth and uncertainties as to the country's preparedness to truly gain an economic independence in the nearest future. READ

Reassessing Impacts of MDGs in Nigeria
A Global Partnership for Development was adopted by 189 nations, signed by 147 heads of state and governments during the UN Millennium Summit in September 2000. Bill Gates has called them "the best idea for focusing the world on fighting global poverty that [he has] ever seen." The signing of the partnership was the beginning of the process towards the establishment of Millennium Development Goals (MDGs). READ

National Cyber Security Summit in Tinapa
National Cybersecurity Summit for National Defense & Law Enforcement will take place in Tinapa Business Resort on 27-29th October, 2010. The Theme: "Harmonizing Strategies against National Vulnerability and Cybercrime: -A Strategic Stride towards achieving Vision 202020" READ

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Wednesday, 8 September 2010

The New Service Chiefs Names and Approved Banking Model

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook www.facebook.com/economicconfidential. Watch out for an exclusive interview with Atiku Abubakar also on the Economic Confidential soon.

Jonathan Names New Chiefs for Armed Forces, Police and SSS
President Goodluck Ebele Jonathan of Nigeria has finally replaced heads of the Nigerian Armed Forces and the Police with the appointment of new bosses for the security services. The new service chiefs are READ from this link:

CBN Approves Revised Banking Model
As part of the blue-print for reforming the Nigerian financial system which includes the enhancement of the quality of banks, financial system stability and evolution of healthy financial sector, the Central Bank of Nigeria (CBN), in compliance with the statutory provisions of the Banks and Other Financial Institutions Act (BOFIA) regarding the conduct of banking business has concluded the review of the universal banking. READ: http://www.economicconfidential.com/x/index.php/monetary/425-cbn-approves-revised-banking-model

Nigeria's Leadership Roles in Africa and Daunting Challenges
Nigeria has since Independence been playing a significant leadership role in the West African Sub-region and indeed the African continent. Africa has remained the centerpiece of Nigeria's foreign policy since independence in 1960. With a population of about 150 million people, almost one quarter of the African continent and being endowed with immense physical and human resources, Nigeria is destined to play leadership roles in the affairs of the continent. This is exactly what the country has been doing for decades, notwithstanding the financial, political, social and diplomatic challenges. READ:

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Monday, 6 September 2010

FIRS Jobs for only 2% Applicants, as Jimoh Ibrahim Stays at CAC

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook www.facebook.com/economicconfidential. Watch out for an exclusive interview with Atiku Abubakar also on the Economic Confidential this week.

FIRS Jobs: Only 2% of Applicants Make Final List
With its financial autonomous and improved conditions of service for the staff, the Federal Inland Revenue Service (FIRS) has become a hot destination for job seekers in Nigeria. The Economic Confidential gathered that only two percent of over 100,000 applicants are successful in a recent recruitment exercise. READ

CAC Crisis Resolved, Jimoh Ibrahim Stays
The staffs of the Corporate Affairs Commission (CAC), has called off the industrial action it embarked on recently just as Bar. Jimoh Ibrahim remains the Chairman of the Commission. READ

Buhari Attacks Jumbo Pay and Presidential Jets
A former military leader, General Mohammad Buhari has condemned jumbo salaries for legislators as well as the procurement of new jets for the Presidency. General Buhari made this known in an interview with a popular online portal, Nigeria Village Square.  He said: "There must be some decency in the amount of money public officers are paid." READ

World Bank Commends CBN, Says No Credit Crunch in Nigeria
The World Bank has commended the on-going banking reforms by the Central Bank of Nigeria (CBN) and also stated that contrary to perception in certain quarters, there is no evidence of credit crunch in the Nigerian economy. READ

EFCC to Stop Corrupt Politicians In 2011 as it Partners FBI
Chairman of the Economic and Financial Crimes Commission, EFCC, Mrs Farida Waziri has insisted that nothing will stop the anti-graft agency from working with other sister organisations to ensure that public office seekers with corruption cases hanging on their neck are denied further access to loot the nation's treasury. READ

Federal Legislators to Empower Vision 2020
A draft bill seeking to make all tiers of government to comply with the Nigeria's Vision 2020 economic development blueprint will soon be on its way to National Assembly for consideration and passage in to law. By the provision of the proposed bill, Minister for national planning would have to verify and endorse all development programmes and plans of all tiers of government to ensure that they are not in conflict with the provisions of the vision before they can be implemented. READ

African Countries to Converge on Accra for Cultural Festival
A new dawn in the revival and promotion of Africa's arts, culture and tourism is in the offing as CultureDigest International magazine, with the support of partners unfolds a 4-day African cultural festival-AfriCultureWeek. The festival was conceived by CultureDigest International magazine as a yearly event in line with the Charter for African Cultural Renaissanc. The festival is scheduled for February 2-6, 2011 in Accra Ghana. READ

Re: 'Senators, Ministers Hijack 524 Jobs in FIRS': Facts
In line with FIRSEA 2007 and the need to address staffing gaps long identified in the Service, the FIRS began taking steps to reposition the Service starting with a placement exercise to align staff to positions within the redefined organization structure of the Service and then a massive recruitment exercise which was concluded in July 2010. The placement exercise was originally to include a competency test administered on all staff of the Service. However, due to staff preference, the test was dropped, albeit with an understanding that all vacancies in the Service would be advertised and be filled by qualified internal staff and external stakeholders or persons. READ

ICT Steers Assessment World – Prof. Ojerinde
The President of the International Association for Educational Assessment (IAEA), Professor Adedibu Ojerinde has admitted that the dynamics in the assessment world have changed fundamentally across the globe. According to him, the Theories, Models, Policies, Principles and Practice of evaluation have under gone a lot of vicissitudes and panel beating with their corollary outcomes which are both positive and negative. READ

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