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by Stanley Azuakola These are uneasy times for the Chairman of Coscharis Motors and Sure Comfort Limited, Dr. Cosmas Maduka. The Central Bank of Nigeria (CBN) has removed him from the board of Access Bank with immediate effect. The CBN took the decision following a petition by two minor shareholders of the bank, Messrs Godfrey Onyeka and Godfrey Obiamalu. The duo alleged, in their petition to the CBN governor dated January 21, 2013, that Access Bank had granted loans to Maduka, and two other directors of the bank, in a manner that did not follow due process. The two other directors are Gbenga Oyebode and Tunde Folawiyo. The petition, written by the counsel to Onyeka and Obiamalu, Ime Asanga and Co, reads that: “Our clients have become aware of a fraudulent credit facilities made by the bank to three of its directors-Dr. Cosmas Maduka through two of his companies namely: Coscharis Motors Ltd and Sure Comfort Limited here in Nigeria, to Mr. Gbenga Oyebode and Tunde Folawiyo. Our clients are desirous of protecting their investments in Access Bank and ensuring that returns on those investments are not unnecessarily depleted, especially when easier, cheaper and more readily available local remedies are provided for under BOFIA. Accordingly, we have our clients’ instructions to make this complaint to you with a prayer that you invoke the clear provisions of Section 20(6) of BOFIA to recover from the directors of the bank the full amount involved in the obnoxious credit facilities as well as cleanse its Board and Management by removing all the Directors.” Meanwhile Access Bank itself, was fined the sum of N3million by the CBN for violating its rules and regulations on granting of loans. The CBN, through its Banking Supervision Department told Access Bank that the sanction became necessary following a risk based examination carried out on the bank on September 30, 2011. “The bank contravened Section 20(1) of BOFIA, 1991, as amended by granting credit facilities to Westcom Group to the tune of N38.4 billion which was above its single obligor’s limit of N36.4 billion. “Contrary to the CBN circular No BSD/9/2004 of 16th July, 2004 which stipulates that credits to directors and their related companies shall not exceed 10% of the paid-up capital without the CBN approval, the bank granted to its following directors; Mr. Gbenga Oyebode, Dr. Cosmos Maduka and Mr.Tunde Folawiyo, facilities in excess of ten percent of its paid-up capital without the necessary regulatory approval. Consequently, penalties totalling N3, 000, 000.00 is imposed on your bank for the above infractions,” the CBN letter read |
[quote author=Me_Aboki]Wow,what an eye opener, lets wait and see how they'll try to shift the goal post.[/quote]Wetin open your eye... Lol. What the writer and poster failed to recognize is that constitutionally he served out the term of his boss during the first year and then into elected office after the elections. See keep bursting your eyes. It is up to him to contest or not. There is no constitutional crisis. |
[quote author=Negro_Ntns]this is very significant! so if it cost france and eu $15b to procure this war, nigeria has commited to give more than half......$8.25b. for 8.25billion dollars we could bring sanity and peace to maiduguri and the northern states. for 8.25illion dollars we could tear down dilapidated police academy buildings and erect modern facilities and then feed the cadets plenty of fish...in a cafetaria, not on cinder blocks out in the playground. we are spending money that has 0 return on investment and we call it regional leadership ....more like regional dummy![/quote]Shut up... What do you know about peace and spending money rightly. The abokis who choose to fight government are fighting a holy war in holicinating facts cooked up in their heads. So even if government sets aside twice that amount, it will surely go down the drain. The world need to brace up for a new type of war against terrorism that uses religion as a key tool. It is the new level of criminality that must be dealt with. |
ochukoccna: Is this a joke or what?Deposit per transaction... Alarmist. |
OYINBOGOJU: This baby was dug out this morning somewhere in Lagos and miraculously the baby is alive. Instead of burying the baby alive, why not package him and drop him off in front of someone's house.Destiny child... A leader is born. Mark my words. Let the name of God be praised. Lord I thank you for this child's life and beg you to forgive the foolishness of the tool used to bring the baby into this world. Lord for her foolishness is nothing close to your wisdom and infinit mercies. Oh lord of Joseph be thou glorified. Amen. |
victorD3: Am shocked no one has blamed GEJ yetArrrgh... I tire o. I think Nigerians had high hopes when the shoeless guy took power and they forgot that the niga is only human....lol. |
wlex8: I need you guys to comment on this, how right is it for one to beat up his elder sister for his wife?To beat her up is wrong because she is woman but to have the guts to come to my house to mouth off on my wife is not acceptable! Even if my wife is a devil. All women are same and I pity my sister's husband. Reasons being that the husband could not shut her down that is my sister and keep her off from coming to my home to rain hell. Who does that sister of mine think she is. She should be my sister enough to respect the choices I make in life and pray for the best. When she chases my wife away, who will warm my bed? Total rubbish. |
ebucha: Very soon...One day Nigerians will take over their country from political shenanigans!!!!! ACN, PDP, CPC and who the hell of a party you are. Take note. Nigerians are tired of being played as the fools while the theives get richer and the poor celebrate them without shame!!! |
0lumide: If I provide you with list of positions held by southerners will you shut up?Please do and be very quick with it bleeper! |
slimming: People don tire for nigeriaWe should not be tired. The people who ruined this country have citizenships for their children in western world. esp. UK and USA. That is why they can continue to destroy our country. then we help them by pumping more fire to bas situation. Nigeria can heal. |
Nigeria we hail thee!!! |
Why una go comment, because it is something worthwhile to think about everybody don run.. If na GEJ is failing post...rabid sick dogs will jump on board. |
tayejay: [color=#990000][/color]Bleeping fool, can't you see the list. The fact the president is from south-south does not mean they are running the country. This is the only reason why boko haram is operating today... Ciroma and co promised Jonathan to make Nigeria ungovernable under Jona's watch. That is what we have bleeping cunt!!! |
I sit in tears every day and ponder who we are, what drives us and what we represent? Militants fighting, kidnappers are having a field day and government not meeting expectations of a people and I sit in tears and ponder!! Ex-military leaders fighting to get back to power and the voice of the common man drowned. Lost in our lust for wealth we have lost a sense of collectivism. Is capitalism right for our progress? Our rich African communal culture is dead, one can no longer travel from the cities to our autonomous societies where we come from because of insecurity. Massively twigged educational system currently breeds arm robbers, harlots and cultists and little of those that quest for genuine knowledge. How did we get to this road with many uncertain exits and how can we realign simple moral virtues to fit into the fabric of the entity called Nigeria. In tears and truth that just as Nigeria, many Nations forced to exist as one in the days of colonial greed are faced with the same dilemma as regards to who they are and how best to govern a people. Nonetheless, can't we all find a common sensible ground to continually exist as Nigeria? Obviously status quo appears to have failed. Can't we find a new recipe to our need to become greater than numbers? Where is that patriotic Nigerian that can take us there regardless of region? I am saddened because in anger every day I read about criticism pf this current government and the deliberate problems created for the government because they are power hungry for 2015 thus will not support any programme that will move this country forward. I personally thought to myself that the Northerners has done more harm to this country than good but with restraint I apologies to my fellow countrymen who are from the North and faces these same hardship and quagmire on the way forward. Should we continue to write on blogs in anger and not act as that Nigerian that should take us there? Who do we think holds the mantle of leadership? Government or we? Criticism is good but subjectively done be clouds the essence of constructive thinking. Government is only a tool that can help us achieve greatness if deliberately approached with a sense of patriotism and people in government should not be ignored!!! Nigeria is bigger than the politics of today. Nigerians are enterprising people that can become the best in their areas of interest if given a chance. |
5columnist: Who is Really Nigeria's Problem?Bleeping nasty set of people. Two faced and liars in the name of God. They suck our economy dry and add no value to it, then turn around and attack the government of Gej. ACN power hungery southerners are supporting them because it only where their stomach lies they think off. That was why Awo betrayed the Igbos, now the Yorubas are ready to betray the south-south by ganging up with useless North that adds no value to this country. |
Who is Really Nigeria's Problem? **Vice President - North **Senate President -North **Speaker House of Reps - North **PDP National Chairman - North **PDP acting BOT chairman - North **Head of Service - North **INEC Chairman - North **Inspector General of Police - North **CBN Governor - North **Chief Justice of federation - North **President Court of Appeal - North **EFCC Chairman - North **President Federal high court - North **National Security Adviser - North **Chief of Defense Staff - North **Controller, Customs Service - North **Controller Prison Services - North **Richest man in Africa - North. **85% of Petroleum Marketers in Nigeria - Northerners **80% of Oil Block Owners in Nigeria - Northerners Over 50% of our NASS are Northerner, Yet, the Poorest states in Nigeria and Educationally backward areas in Nigeria are in the North. Polio in Nigeria means polio in the North! Now ask , what,and who is the problem of the Northerners.yet they disturb the Nation wit Boko Haram. |
Who is Really Nigeria's Problem? **Vice President - North **Senate President -North **Speaker House of Reps - North **PDP National Chairman - North **PDP acting BOT chairman - North **Head of Service - North **INEC Chairman - North **Inspector General of Police - North **CBN Governor - North **Chief Justice of federation - North **President Court of Appeal - North **EFCC Chairman - North **President Federal high court - North **National Security Adviser - North **Chief of Defense Staff - North **Controller, Customs Service - North **Controller Prison Services - North **Richest man in Africa - North. **85% of Petroleum Marketers in Nigeria - Northerners **80% of Oil Block Owners in Nigeria - Northerners Over 50% of our NASS are Northerner. **Who is opposing the PIB Bill -Northerners. **Who is the GMD NNPC - Northerner Yet, the Poorest states in Nigeria and Educationally backward areas in Nigeria are in the North. Polio in Nigeria means polio in the North! Now ask , what,and who is the problem of the Northerners.yet they disturb the Nation with Boko Haram. They promised to make the Government of President Goodluck Jonathan ungovernable and all of you blind Nigerians are blaming a government stiffled by a region |
donsax: Hmmmm...after he don taste different different womanliness.And he is suppose to be a source of mentorship to generations to come and his church members. End days prophets... God will remain awesome, the devil only fights in vain |
Cosmopolice: Too long to digest.sahara reporters should pack dere face joorSowore is a two faced bleeper! He is milking the international world that supports free speech through his rogue media outfit. An agent of Tinubu, Acn and possibly boko haram as he is known to work closely with el-ruffia. The question is, why come to the house of God to cause confusion if you are not an agent of the devil? Sowore has history of being rude to established authority. Definition of human rights is relative. You can't come to my house and want to enter my bedroom without permission. That in itself is a criminal offense to cross boundaries set up to maintain orderliness. Stupid boy with no training. A disgrace to Yoruba tribe. A tribe known for their respect for establishments and institutions as well as regards for elders. |
El Guapo: [color=#0066ff]THE LADIES WILL ALWAYS SAY PLENTY ABOUT WOMANHOOD. NOW READ DIS AND SEE WHAT MEN GO THROUGH IN LIFESome women will still go out there a bleep other men after all that is listed. |
lakeside025: Another blow for oyin, after †ђξ blow he received frm aregbesola by 3yrs ago.. This man ℓιƒє is full σƒ blowsTonto Dikeh will still blow Oyins... ![]() |
Building is one thing, management is another. I don't see the direct impact of most of these projects on our economy. Outside the train lines and the Dan project, the rest are source of leisure and income for the rich and of course most of these projects are not directly financed by the federal government or states. Some are private sector projects 100%. I will be happy to see projects that can add value to human capital development, like the e library aviation college in kwara but such facility decay away because of poor management. Elephant endless projects everywhere. Government scamming its own people is pathetic. |
fashoga: siamese Twins (conjoined baby girls) delivered in nasarawa (maraba medical centre) close to abuja,they have been moved to National hospital abuja_please they need your support/prayersHow do we help? |
mama bear: So tell me wat makes it wrongIt is a big problem with religion ... There is absolutely nothing wrong with crossing your legs. As a matter of fact, it shows good composure in line with public places sitting enitquette. It is a backward opinion and that is why they can't explain it. It is exactly like circumcision of women that most culture has dropped today. Generations kept doing it because it was passed down culturally to them. Your mum can't explain it because it is not wrong. No new knowledge can ever be acquired without questioning status quo. As for those laid back people who accept all bullshit shoved down your throat, you have yourselves to blame. |
Uchenna42: Isn't it better for them to jst trek........cus if the do..the will actually be faster than the car self.....smh....These are traders... They are not fleeing ... |
Go to www.hmpr-ng.com and download the bill sent to NASS. Read and form your own opinion. You can't write thesis or class work based o speculations, which of course is what you will get from an average poster here who will only share an opinion that is informed by his/her view about the government of the day. Wish you all the best. |
[quote author=GARRI (x7)]Its mathematics.... Olodo!!! [/quote] |
Ikenna351: DAY 3 (Still on my way to Enugu town on Enugu-Onitsha Expressway)Bro you got tears flowing off my eyes. At least we still have good NIgerians out there. Contented and helpful. May almighty God prosper you and bless the works of your hands to continue his good works on earth. My his love for humanity never depart you. Kay your humility in success serve as a source of mentorship to generation next. You are a great guy. If only those in position of power can provide basic needs for everyday Nigerian, we can explore the little life has to provide. God bless you bro. You are a great guy. If only those in position of power can provide basic needs for everyday Nigerian, we can explore the little life has to provide. God bless you bro. |
Ikenna351: DAY 3 (Still on my way to Enugu town on Enugu-Onitsha Expressway) |
bamasite: Waoo!!!!!! |
[quote author=GARRI (x7)][size=35pt][b][/b][/size][/quote]hmmmn... how can you curse people in the name of God...lol. Christainity has taken a new height ... ![]() |
Datz wat I wanna knw
itz an unconscious act,diz different 4rm don't wear trouser 2 church or tie scarf on ur head... Like is it in d bible? Is it a sin? Re d crossed legs blocking anybody
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