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

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  • Economic Confidential
    Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook
    Message 1 of 1 , Jan 4, 2011
      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:

      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:

      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:

      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:

      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:

      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:

      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:

      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:

      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:

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