Nigeria: Dollarisation of the Nigerian Economy - Who Is to Blame?
By Gabriel Omoh
Two weeks ago while in Tokyo at the conclusion of the 2012 IMF/World Bank Group Annual meetings, the CBN Governor, Sanusi Lamido Sanusi, decried the dollarisation of the Nigerian economy. He said the President, the CBN and everybody is worried about the development.In Economic parlance, dollarisation of an economy occurs when the inhabitants of a country use foreign currency in parallel to or instead of the domestic currency as a store of value, unit of account, and/or medium of exchange within the domestic economy. Full story...
Source:http://allafrica.com/stories/201210290875.html
Posted by Amaka, 30 October 2012
Nigeria: 'Senate is Monitoring How N6 Billion SIM Card Registration Fund is Being Disbursed'
After the controversy that greeted the N6 billion SIM Card registration last year, the Senate Committee on Communications says it is closely monitoring the exercise apparently to ensure judicious use of the fund. In an online interview with Francis Ugwoke, the Chairman of the Senate Committee on Communications, Senator Gilbert Nnaji speaks on poor quality telecoms service, review of communication laws, harmonisation of NCC and NESREA laws and plans to domesticate international laws in the country. Excerpts:
Source:http://allafrica.com
Posted by Amaka, 10 September 2012
Nigerian Economy: Freeing Funds For Development
BY AKIN YUSUF
An article published in a national daily on March 29, 2012 concerning the unveiling of the new identity and logo of Urban Development Bank plc (renamed Infrastructure Bank plc) once more reiterated Nigeria’s infrastructure deficit. It further heightened my unceasing concern about the decrepit infrastructure and the high rate of unemployment nationwide.Despite Nigeria’s vast natural and human resources, there is still very little progress on the development scene. The referenced article indicated that Nigeria’s infrastructure deficit requires an annual investment of approximately $20 billion over the next decade. Full story...
Source:http://www.businessdayonline.com
Posted by Amaka, 5 September 2012
Economic Management Team Endorses Proposed N5000 Note
The move by the governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi to introduce N5, 000 notes as legal tender in Nigeria may have received the endorsement of the Economic Management Team.After its weekly sitting presided over by President Goodluck Jonathan some of the members of the team who spoke to state house correspondents said that the move was in the right direction and remains the prerogative of the CBN. Full story...
Source:http://www.channelstv.com
Posted by Amaka, 5 September 2012
Nigeria: CBN's N5000 Gamble
BY IDRIS AHMED
It all started four months ago as a rumour. When the rumour was making the rounds, the Central Bank of Nigeria blatantly denied it as mere speculation, saying it has no intention of introducing the N5000 note.But on August 23, the governor of CBN Sanusi Lamido Sanusi announced what he called a comprehensive restructuring of the currency, and the introduction of N5000 was proposed.Under the "Project Cure", the central bank also announced the introduction of 50k, N5, N1, N2, N5 and N10 coins into circulation early next year.Full story...
Source:http://allafrica.com
Posted by Amaka, 4 September 2012
Budget Implementation: The Thin Line Between A Contrasting Data and Reality
BY FEMI ADEKOYA
IT is often asserted that Nigeria produces the best fiscal policy in the sub-Saharan Africa. An assertion that seeks facts. However, activities within the economy in the last few weeks has brought to the fore a critical issue that affects the heartbeat of the economy—welfare of the people and yardstick for measuring good governance.Indeed, the continued imbroglio between the Senate and the Ministry of Finance over the 2012 budget performance, as regards the contradictory figures emanating from the Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala and the office of the Accountant General of the Federation has called for a need to address the essence of the fiscal policyFull story...
Source:http://www.ngrguardiannews.com
Posted by Amaka, 15 August 2012
House Will Not Tolerate Budget Failure
By
Action Congress of Nigeria (ACN) chieftain Lanre Odubote represents Epe Constituency in the House of Representatives. He spoke with Deputy Political Editor EMMANUEL OLADESU on the threat by the House to impeach the President for poor implementation of the 2012 budget.What has been your experience in the House in the last one year?
It has been a wonderful experience being a member of the Seventh Assembly. I am happy because, whatever success this House of Representatives has achieved, I am part of that success.
Source:http://www.thenationonlineng.net
Posted by Amaka, 6th August 2012
Nigeria: Okonjo-Iweala's Budget Remark Misleading - Representatives
Minister of Finance Dr. Ngozi Okonjo-Iweala is misleading Nigerians over the level of implementation of the 2012 budget, chairman of the House of Representatives Committee on Media and Publicity, Zakari Mohammed, has said. Speaking to reporters yesterday in Abuja over comments credited to the finance minister where she was quoted as saying the Federal Government has implemented 56 percent of this year's budget, the spokesman said she misrepresented the facts as only 34 per cent has so far been implemented. Full story
Source: http://allafrica.com
Posted by Ufuoma, 30 July 2012
Nigeria To Get $200m World Bank Loan
By Olushola Ricketts
TO address the huge infrastructure deficit in the country, the World Bank has initiated plans to provide $200 million as a seed fund to set up a Financial Intermediary Loan (FIL) scheme under the Public Private Partnership (PPP) initiative. According to Head, Legal and Governance, Infrastructure Concession Regulatory Commission (ICRC), Mr. Joe Ohiani, at the one-week inaugural ESQ Project Finance summit at Lagos billed to end tomorrow, some other development finance organisations have also agreed to contribute to the scheme. Full story...Source: www.ngrguardiannews.com
Posted by Ufuoma, 27 July 2012