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Oil Sector: NEITI Exposes NNPC, DPR, NDDC, CBN: The Nigeria Extractive Industries Transparency Initiative (NEITI) has officially released its Report on 2005 Audits on the extractive industries in Nigeria indicting Nigerian National Petroleum Corporation, Central Bank of Nigeria (CBN) and Niger Delta Development Commission (NDDC) just as it discloses that Nigeria’s oil production is still unknown… Read
FIRS, AGF Disagree Over E-payment System… Banks Accused of Diversions of Funds: The Executive Chairman of Federal Inland Revenue Service (FIRS), Mrs. Ifueko Omoigui Okauru and Accountant general of the Federation Ibrahim Dankwambo have disagreed over the success of e-payment system in the country. While FIRS accused banks of slowing down the process of prompt remittance of funds, the Office of the AGF believe the e-payment has achieved some levels of success within the federal system. … Read
CBN Signs Strategic Partnership with Malaysian Central Bank: The Central Bank of Nigeria and Bank Negara Malaysia (Central Bank of Malaysia) signed a memorandum of understanding to share expertise and exchange relevant information in the areas of Banking Supervision, Small and Medium Enterprises (SMEs), Microfinance, Islamic Finance, Monetary Policy, Development Finance Institutions, External Reserve Management, institutional arrangement for financial crisis management and resolution, Foreign Exchange Administration, Performance Management and Corporate Strategy, Leadership Development and Talent Management. … Read
Boost: ZENITH Bank Gross Earnings Up N277bn: The Zenith Bank Group, despite the impacts of the global economic meltdown, has recorded gross revenue of N277.3 billion during its reporting period ended December 31, 2009, a jump of 31% over the N211.64billion it achieved the previous year. … Read
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Economic ConfidentialFactual, Authoritative and AccesibleNigeria's Economic Magazine