Ogun State Land Scare! Government Blackmails Estate Developers, Land Owners

Last Monday, 8 June, 2009, the Ogun State Bureau of Lands and Survey, under the insignia of the State Government, had caused the publication of what it described as a “Final Warning” ostensibly directing the attention of individuals and corporate bodies to activities of estate developers and promoters in about 14 locations in the state [...]

Volume II, Issue 18

This week on the June 08, 2009 edition of Fortune&Class Weekly:

FIRS bars ETB, Spring Bank, Wema Bank – The Federal Inland Revenue Service (FIRS) has barred three banks from collecting taxes and other revenue due to the federal government on its behalf.

The banks, Equitorial Trust Bank (ETB), Spring Bank and Wema Bank were given the [...]

Volume 2, Issue 16

This week on your Fortune&Class Magazine;
FIRS SEALS ADENUGA’S OIL COMPANIES OVER N89 BILLION TAX EVASION
It would sound rather ironical that the totality of the Nigerian state has been compelled to reconsider the structure of its national budget which has a built-in 500 million dollar deficit financing plan, about 30 per cent of the national budget, [...]

2009 Forbes Profile of Billionaires: Femi Otedola joins Dangote on World’d Richest List

Nigeria may have the honour of having two of its citizens listed in the 2009 edition of the annual Forbes list of the world richest. Fortune&Class Weekly can report that Mr. Femi Otedola, Chairman of African Petroleum Plc and Zenon Oil and Gas would join Alhaji Aliko Dangote, the first Nigerian on the list [...] [...]

2009 Outlook: Key Questions for the Director-General of the Nigeria Stock Exchange

If you had an opportunity to ask the Director General of the Nigerian Stock Exchange a question, what would you like to know from her?

Some investors, fund managers and equity analysts have sent in their concerns/questions; some of which were addressed by the DG, NSE at the Annual Review held at the Nigerian Stock Exchange [...]

Vice President frustrates Transcorp’s plan to sell off NITEL’s Backbone

The nation’s Vice-President, Goodluck Jonathan has, according to sources, stopped moves by the board of directors of Trans National Corporation (Transcorp) to reduce the net worth of Nigeria Telecommunications (NITEL), the national telecommunication carrier in which Transcorp 51 per cent holdings have remained an unending hassle in the Federal Government privatization of former national assets [...]

Heavy Debt Burden: Banks suspend funding for Dangote’s cement project

A heavy debt burden and the anticipation of high profile competition for the share of the Nigerian cement supply side from Femi Otedola may have compelled Alhaji Aliko Dangote to call off investments with intent to expand production lines in his many cement manufacturing plants and to build new ones. Sources in the banking [...]

WHEN THE ZEAL IN A CRUSADER DIES OUT

There must be something decidedly derelict about the civil service. I have seen several otherwise distinguished professionals that impacted their operating industries in the private sector turned hapless, loud talking caricature of their old selves.

 
 
In the instant domain of my observation is the Federal Minister of Finance, Shamsudeed Usman, a former Deputy Governor at the [...]