The courts have given the Nigerian cabinet 14 days to determine whether the president is fit to lead the country. You might recall that the president has been away from the country on treatment for close to two months. From Reuters: Judge Dan Abutu ordered the cabinet to pass a resolution on Yar’Adua’s fitness within… Read More »
I just read from the Financial Times, through the PSD blog, that the Nigerian government is considering giving part of the proceeds of oil exploration to indigenes of the Niger Delta region. The amount is about $20 a year. According to its architects, the Nigerian scheme could make about $555m annually available – about $20… Read More »
The Nigerian government has decided to implement a common year-end for Nigerian banks. The point is that, because banks have had different fiscal cycles they could move money around amongst each other to inflate the value of their total assets. Which was part of what contributed to the banking crisis of ’09. The immediate reaction:… Read More »
Remember Hernando De Soto’s assertion in The Mystery of Capital that success in capitalism is tied to the structure of property and property rights? Seems like someone in the Nigerian government has been reading the book. In ThisDay of today: The Federal Government yesterday said the ongoing land reforms process is intended to launch the large… Read More »