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Odds against downstream deregulation - By Chijama Ogbu

 

Profile

Bar. Bello Mahmud: The New Registrar General for CAC

 

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No 2nd Term for YarÁdua – Billionaire Debtors Vow

 

Facts and figures

Federation Account: How They Share N332bn in October

 

The Sharing of N27.8bn on Exchange Rate difference in October 2009

 

List of Federal Perm. Secs and their States - Non from Bayelsa

 

List of Major Debtors in Nigeria

 

Exclusive Interview

No more Needless Borrowing in Public Offices - Aliyu Yelwa, Boss of Fiscal  Commission

 

Monetary

CBN Supports Deregulation, Allows ETB to Rectify Lapses

 

Communiqué No. 66 of the Monetary Policy Committee Meeting

 

List of Major Debtors in Nigeria

 

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SMEDAN Advises Small Businesses on Good Idea

 

Odey Inaugurates Panel on IWMF in Niger Delta

 

Finally FG, States Share $2bn from Excess Crude Account

Honours for EFCC Boss in USA

 

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Kano Spends N1bn on Sports Development as Governor bagged ‘Sardauna’

 

IDB advances N3.15bn loan to KDSG as Governor Approves N18mn for Training 

 

 

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Economic Confidential, January 27, 2009

STATE NEWS

 

 

Federation Account: 22 Governors May Join Suit Against FG

The remaining 22 States’ governors in Nigeria may join the suit instituted by 14 states against Federal Government at the Supreme Court over illegal deductions from the Federation Account and abuse of the Excess Crude Account.

 

The Governors in Abuja also agreed that the current global economic crisis is taking a toll on each state of the federation, saying it may be impossible for them to implement the 2009 budgets as proposed.

 

The governors who spoke after their meeting under the aegis of Governors Forum held at the Kwara State Government’s Lodge, Abuja declared that "The Forum expresses full support towards their members who are in Supreme Court with Federal Government over illegal deductions from Federation Account and agreed that going forward all the states will eventually join in the suit and other matters that affect members.

 

They also lamented the declining oil price which formed the basis for budget proposals. They said the challenge posed by the recession will top the agenda of the National Economic Council (NEC) meeting in Abuja

 

Chairman of the Forum, Gov. Bukola Saraki of Kwara State who spoke to newsmen after the meeting, said "The Forum acknowledged the challenges of instability of the crude oil price which further decline will critically affect implementation of states budgets and agreed on the need to discuss this at tomorrow National Economic Council meeting. How do we manage these challenges, the forum agreed on the need for more transparency on the management of excess crude account.”

 

On the health sector, the forum in its statement said: "We listened to a presentation by the Hon. Minister of Health on qualitative primary health and threat of polio epidemic. The Forum agreed to partner with the Ministry to ensure polio is eradicated and primary health care improved. A number of measures were agreed upon which include: a new Motto- Keep my state polio free, promote strong leadership at state level and encourage LGAs to provide leadership to lead the campaign monthly and provide monthly polio data at SEC. the forum agreed to partner with FGN (Federal Government of Nigeria) on the Midwifery scheme, lastly agreed to buy into the Community Health Insurance.

 

A six-man committee was set up by the body to look into the Plateau State problem as well as find a lasting solution to the perceived standoff between President Umaru Yar’Adua and Plateau State Gov. Jona Jang. "As a response to the problem in Plateau State, the Forum agreed to set up a six-man committee headed by the Governor of Adamawa State with Governors of Kano, Ebonyi, Oyo, Rivers and Niger as members to look into the issue and find lasting solution to it"

 

Kano State Governor, Oyo, Imo, Zamfara, Kwara, Bayelsa, Edo, Osun , Niger , Lagos deputy governors, among others, attended the meeting.

 

More on this, click on: Illegal Deductions: Apex Court Orders FG, States to Settle Out of Court

   

SPECIAL FOCUS

List of Major Debtors in Nigeria

 

List of Bad Debtors in Federal Mortgage Bank of Nigeria (FMBN)

 

NEMA@10: The Story So Far

 

Questions and Answers on the Examinations of the 14 Banks by CBN

 

FEATURES

Africa's Foreign Reserves: In Reserve For Who?By Chika Ezeanya

 

Churches and Mosques Should Pay taxes - Mcdonald Koiki

 

Deregulating Robbery in Nigeria By Kola Ibrahim

 

Understanding Monetary Policy By Abubakar Jimoh

 

The Making of Ideal Economic Policies By: Salim Salihu Muhammed

 

The Putrid Mess Also in CBN By Les Leba

 

Still on Early Warning Alert System in Nigeria By Yushau A. Shuaib

 

District 9 and the Can of Wild Paradox by Segun Imohiosen

 

Nigeria: Time to Check to the Drift By Dansulieman Mohammed

 

Golden Casket: Between Gani Fawehinmi and Wacko Jacko- By Yushau A. Shuaib

 

NIGERIA@49: Tracing the Economic Intervention- By Abubakar Jimoh

 

NASENI: Striving to end Nigeria’s reliance on foreign good – By Umar Kari

 

Macroeconomic Framework for an Independent Economic Recovery- Salihu Muhammad

 

When Sony Undermines Campaigns of Akunyili and Aoandoka- By McDonald koiki

 

Archetypal Resurgence: The Lamido Sanusi Revolution- By Segun Imohiose

 

Banks and Money Laundering- By Les Leba

 

Oronsaye’s Civil Service reform- By hussaini Sani kagara

 

New Policy in the Civil Service: Hypocrisy at Work? –By Tope Ajakaiye

More Features

 

TAX MATTERS

* Church and Mosque Not Exempted from Tax - FIRS

… Use of Consultants for Tax Collection is an Aberration

*Finance Minister Advocates Partnership on Tax Issues

*FIRS Reopens PAN, Vows to Prosecute Defaulters

*How We Generate N808bn in Tax Revenue Within Six Months- FIRS Boss

*FIRS Generates Taxpayers Numbers for Bank Customers

*Historical Milestone as Online Tax Payment Begins

*FIRS Seals Two Oil Companies Over $610m Tax Arrears

*Firms Owed Govt N260b in Taxes

*Tax Identification Number to Reduce Tax Evasion- FIRS Boss

*Revenue Agencies to Make Full Disclosure- Finance Minister

*FIRS Delists 2 Banks over Non-Remittance of Tax