House Finance Committee’s 50 Questions: Okonjo-Iweala presents detailed 102-page response.

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Find a press statement below...

The Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala has provided a detailed 102-page documented response to the 50 questions posed by the House of Representatives Committee on Finance. The document provides, in extensive detail, including tables and graphs, answers to the committee’s well publicized questions. 

In her response, the Minister stressed that, in spite of many challenges which government has acknowledged, the Nigerian economy is showing real and measurable progress in many areas. This can be seen in the fact that more jobs are being created; roads, rail and other infrastructure are being improved; the country is saving for the future and planning better for the present. Continue...

Samsung & Etisalat partners Union Bank to launch 24-month device finance scheme

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Samsung Mobile, a division of Samsung Electronics West Africa, in partnership with Etisalat and Union Bank of Nigeria Plc last week announced the commencement of flexible payment plans for its customers to purchase high-end smartphone devices on instalments at select Etisalat Experience Centres nationwide.
The scheme entitled; Get a Smart Device with Ease, which will run on Etisalat Samsung devices is scheduled to commence on November 1st, 2013. Samsung device financing option offers customers the opportunity to own their preferred smart devices such as Galaxy Note 8.0 (tablet), Galaxy S4, Galaxy Mega, Galaxy Note 3, and Galaxy S4 Zoom with the option of spreading payments over a 24-month period.
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The Truth about FG’s position On ASUU Strike Revealed by Finance Ministry, says Iweala is not the Problem

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This is a press statement from the Federal Ministry of Finance concerning the ongoing ASUU strike. It's been four long months (Quite shameful I must add) without any apparent resolution to the conflict in sight...and some folks are blaming the Minister of finance Dr Okonjo Iweala for what's going on. following the break. Some people in ASUU have been distributing flyers with abusive messages against Dr Okonjo-Iweala and now the ministry is issuing a statement about it, saying the minister isn't the problem. I'd rather read about when ASUU is calling off this strike to be honest.

See the press release after the break

Egypt Former Finance Minister Gets 25 Years In Prison

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A former finance minister has been sentenced to 25 years in prison by an Egyptian court on charges of squandering public funds.  According to Egypt’s state news agency in a Tuesday report, Yousef Boutros-Ghali was found guilty of squandering around $3.6 million (about N571m)during his final years as minister.

Boutros-Ghali is a nephew of former U.N. Secretary-General Boutros Boutros-Ghali and is believed to be in London, but was tried anyway. His absence means he is allowed a retrial and all verdicts can be overturned upon his return.

Boutros-Ghali has been convicted on similar charges in past cases. A Cairo court is also due to issue a verdict later this month in a case involving Boutros-Ghali and the country’s former prime minister, Ahmed Nazif, and former interior minister, Habib el-Adly, who are both imprisoned in Cairo.

Imo Commissioner Of Finance And Accountant General Granted Bail By EFCC

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The Economic and Financial Crimes Commission today released two Imo state officials on "administrative bail". The two Imo state officials were arrested on Wednesday over a N47 billion loan transaction undertaken by Governor Rochas okorocha.  EFCC sources told Saharareporters that Imo state commissioner of finance, Deacon Okafor Chike John and the accountant general of the state, Eche Ezenna George were granted bail around 5.30pm today after they showed up with  three sureties, comprising a deputy director in the Federal Capital Territory, a  director in Imo Laison Office and the Liaison Officer in Abuja. The source did not disclose when the officials are expected to return to the EFCC or if and when they will be charged to court.

Source: Sahara Reporters

2012 budget: FG releases N300bn for capital projects

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Coordinating Minister for the economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala
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2013 budget is prudent, reasonable, says finance minister

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Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Thursday allayed fears about the workability of the ministry’s 2013 budget.
In a statement by her spokesman, Mr. Paul Nwabuikwu, the minister said the presentation of the national budget by President Goodluck Jonathan in October was the earliest in recent memory.
She also said criticisms of the ministry’s aspect of the budget were unwarranted.

Greek government in ‘basic agreement’ on cuts

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Greek finance minister Yannis Stournaras says the three parties in the country’s governing coalition have reached a “basic agreement” on the austerity package for 2013-14, British Broadcasting Corporation reported.

The measures are likely to be presented to Greece’s international lenders on Monday before going before parliament.

The cuts are necessary if Greece is to continue receiving bailout funds.

Earlier, Greece announced plans to sell most of its 34 per cent stake in the gaming monopoly Opap.

Stournaras said there were “very few details left to work out” on the austerity package.

The deal comes the day after 50,000 anti-austerity protesters took to the streets of Athens.

The spending cuts are reported to be worth at least ¤11.5bn ($14.8bn; £9.1bn) and are a condition for Greece to receive the next ¤31bn instalment of its international loans.

 

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Source : punchng[dot]com