₦airaland Forum

Mckren and Big 1

Illegality does not beget legality. What one achieves through violence is victory but not justice- Asking me to support Yar'du is like asking me to allow my son who rigged his medical board exams to perform a by-pass surgery on me. Would you allow your son who cheated in his medical exams to operate on you? We need to be realistic folks.

Donzman good analysis.

I woneder how we think that Bank CEOs own their banks. How caould Elumelu , Ibru , Ovia and co be on that list. Its just like Fetus Odimegwu being richer that NB Plc. These CEOs are bank workers not majority share holders. get it folks.

ABUJA — THE Revenue Mobilisation and Fiscal Commission (RMFAC) yesterday told a Federal High Court, Abuja that the President Olusegun Obasanjo-led Federal Government illegally deducted N2.2 trillion from the Federation Account, in two years, contrary to the provisions of the 1999 constitution.

The commission armed with volumes of documentary evidence to back up its claim wants an order of the court declaring that the deductions were not only illegal and unconstitutional but that the entire sum deducted be refunded into the Federation Account with immediate effect.

Part of the money allegedly deducted by the Federal Government from the Federation Account was said to have been spent on such projects and agencies as the National Integrated Power Plants, the Nigerian Railways Corporation project, the Nigerian Customs Service, the Federal Inland Revenue Service and the Paris and London Clubs debt percentage commission and payments.

RMFAC is of the opinion that agencies like the Customs Service and the Federal Inland Revenue Service are not entitled to direct allocations from the Federation Account being not a federal, state or local council which can statutorily benefit from the account.
Named as defendants in the suit are the Attorney-General of the Federation, the Federal Ministry of Finance, the Nigerian Customs Service and the Federal Inland Revenue Service.

The commission said it approached the court because it had made fruitless efforts to draw the attention of President Obasanjo’s government to the anomaly but that nothing was done about it.

The commission’s claim before the court is being prosecuted by the Chambers of Chief Chris Uche (SAN).
RMFAC through its counsel, Chief Uche (SAN), invoked the jurisdiction of the High Court vide an originating summons.
It is the contention of the commission that the constitutional issues raised in the suit were non-contentious and could be summarily determined without calling any oral evidence.

The commission formulated eight questions for the court to determine in the originating summons.
Explaining the circumstances surrounding the strange suit, RMFAC in a 30-point affidavit in support of the originating summons said it was a body set up by Section 153(1 )(n) of the Constitution of the Federal Republic of Nigeria 1999 with powers under Part 1 of the Third Schedule of the said Constitution, and also under the Revenue Mobilisation, Allocation and Fiscal Commission Act No. 49 of 1989, to inter alia, monitor the accruals to and disbursement of revenue from the Federation Account, review from time to time the revenue formulae and principles and advise the federal and state governments on fiscal efficiency.
It said the suit was brought in the discharge of its constitutional responsibilities as the monitor and umpire of the Federation Account




http://www.vanguardngr.com/articles/2002/cover/may07/22052007/f322052007.html

Online

OAU 44th out of 100 Best Universities In Africa.
« on: May 17, 2007, 06:43 AM »

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http://allafrica.com/stories/200705160728.html

http://www.webometrics.info/top100_continent.asp?cont=africa


Country Varsities Out of World Ranking

Daily Champion (Lagos)
NEWS
16 May 2007
Posted to the web 16 May 2007

By Erasmus Alaneme
Abuja

AFRICAN universities were again at the receiving end as the World Universities Webometric ranking released yesterday showed that only University of Cape Town, South Africa was listed among the first 500 best universities worldwide.

Also, on the continent's ranking, Obafemi Awolowo University (OAU) Ile-Ife came a distance 44th position on the list of the first 100 best universities in Africa.

These declarations emerged even as the National Universities Commission (NUC) yesterday insisted that programmes offered by the National Open University of Nigeria (NOUN) have not been accredited.

Daily Champion gathered that of the 500 universities listed, United States of America and Canada accounted for 238, while Europe, Oceania, Asia and Latin America got 211, 21, 20 and nine universities in that order.

Although only Univeristy of Cape Town made the 500 list, it however did not rank among the first 200 universities in the world.

According to the NUC only four Nigerian universities OAU ranked 44th followed by the University of Ibadan (UI) on the 65th position, University of Benin (UNIBEN) 79th position and the University of Lagos on the 90th slot made it among the first 100 universities in Africa.

Declaring that the country's rating has further dipped this year, the NUC noted that in 2006, five Nigerian universities UI, OAU, UNIBEN, University of Lagos (UNILAG) and University of Jos, (UNIJOS) ranked among the first 100 universities in Africa.

However, proffering reason for the poor outing, the NUC attributed it to the fact that previous research findings by academic in the nation's universities were not respected.

Meanwhile, the NUC through its executive secretary, Prof Julius Okojie yesterday reiterated that the programmes offered by NOUN were not accredited.

Prof Okojie who spoke during the meeting with the University management said on the status of the institution that "it was a statement of fact that NOUN's programmes had not been visited/accredited by NUC".

The NUC in its weekly bulletin released on Monday noted that to receive approval or recognition of the establishment of programmes or institutions was quire different from programme accreditation.

According to him, programmes could only be visited for accreditation when they have mature which in the case of NOUN and other distance learning programmes will be after three years, promising to send accreditation team to assess the programmes of NOUN at the appropriate time.

backslider.

Are u in Nigeria or in space. That northern farmers are taxed by Nigeria or their elites. Don’t you know the difference between taxation and 100% control of Niger Delta oil? This is an absurd argument.   I am very certain that FG does not  excise control over agricultural produce, but oil is in the exclusive list of our father Christmas- Federal Government. We are saying that Niger Oil should be taxed by FG not be taken over by FG. If you say that Northerners are bedeviled by illnesses, why don’t we hold their leaders accountable they same we all want to blame ND leaders for all woes in the region.

It seems we have a different standard for ND. What we are asking of ND leaders we dare not ask Nigerian leaders. Northerners messed up Nigeria economically and yet we still entrust them with leadership. Yar'dua is our next president, it could have been Atiku , Marwa, IBB or Buhari. The same people that looted Nigeria. Odili, Alams are all corrupt, but the same thing could be said of Dariye who owns houses and bank accounts overseas. Tinubu was accused of having multiple bank accounts overseas. Chimaroke  Nnamani owns over  171 houses in Enugu, excluding overseas bank accounts and investments. Let's not talk about Orji Uzo Kalu who turned Abia State into his mama's empire. Corruption is prevalent in Nigeria. Northerners have held power more than any region in Nigeria and as such have corruptibly enriched themselves in office, but we don’t say to them, because illiteracy, poverty, childhood killer diseases are more prevalent in your region; we cannot allow to produce next president. We believe for peace to reign that northerners should produce the next president regardless of their past corrupt leaders.  Even these so called ND leaders were hand picked by corrupt   non ND kingmakers and political god fathers who expected them to do their bidding. This administration does not have petroleum ministry and yet we are not asking questions. Why does the rule change whenever Niger Delta issues are discussed? I am not condoning corruption, but if it becomes our yardstick, it be holistically applied.

As for those thinking that this problem will fizzle out, it never will. David Brooks of New York Times  said   “ that modern insurgents like MEND do not seek to take over governments but to weaken them” eg  An Iraqi insurgent group used $2000 to blow up an oil pipeline that caused Iraqi government about $500 million in loss of revenue which is about 25million percent increment.


Corruption is always used as a benchmark to deny  ND their right to control their resources.

here is firstbank verisigned website.
https://www.naijabigoffer.com/PublicOffer/FormWizard.aspx?CorpID=2

I wonder why some Nigerians get ratty whenever resource control is mentioned. If Nigeria has managed these resources and they have not benefited the region nay Nigeria, why can’t we try some other ways- maybe- resource control? Why do we as a nation continuously walk on failure routes even when its glaring that there is now way?

It looks that we do not know that Northern Nigeria feeds the whole nation. -Tomatoes, yams, onions, fish etc come from the north. Imagine what happens when the Govt uses land tenure act to seize all the land in north and say to these farmers - produce for the whole nation, but we give you 13% of the produce. 

Let's us apply 13% derivation in all strata of our economic pursuits and see who would oblige to it. Oil is good for Nigerians so long as it does not come from backyard or my rivers are not polluted.  Money from groundnut, palm oil and cocoa was not used to develop Nigeria, but was used to develop all three regions. The amount of development witnessed by Nigeria in those times has not been replicated thereafter. Govts takes over your land, business and gives you 13% of the profit.

Lagos can sufficiently fund itself without oil money. Likewise Anambra. This will also stop jobless people from going into politics. Let Nigeria be a tax driven economy where there is representation in polity by taxation. ND should generate more money and pay more taxes.  Nigeria provides the infrastructure for drilling and exploration and charges for such services.

Big 1.
Can you make peace with someone who steals your piece of land, builds a house in it and invites you to his house? Your reasons might be that IBB thing did not work out. Good luck.

Injustice goes in a virtual circle. Shagari /Ekwueme rigged polls in 83 elections , military kicked  them out of power ,Ekwueme later stood for election during PDP primaries, but was rigged out, Ekwueme called  the primary  a " charade"  Audu Ogbe, then PDP chairman called  Ekwueme a bad loser and  said his utterances were  “treasonable’. Later on Ogbe was kicked out of PDP because he refused to endorse Chris Uba's actions in- another stolen mandate- By the way Chuba Okadigbo,  an outspoken critic of those  who criticized 1983 elections,  later died while leading a march against 2003 election rigging.  Atiku Abubakar had been a beneficiary of stolen mandate from 1999 to 2003.  Now he wants justice to be done. If he had known that what befell likes of Olu Falae, and Ekwueme would befall him, he might have done something about it. If we do nothing about it, the status quo remains. Somebody should learn some lessons by now. This same support was asked of us in  83, 99,03 elections,  but politicians never delivered because they  did not derive power from the people but though rigging.

I-man

This is not the first time UNN did not make in the top five in Naija. The ranking was based on overall programme not on law. By the way this was not done by Nigerians to be called a farce.

http://www.punchng.com/Articl.aspx?theartic=Art200705180425715.

I can't find this Korean company online
Korea Power Corporation Energy Resources Limited

I hope this is not another NITEL Pentascope deal.

Dangote, Otedola, Transcorp buy PH Refinery for $561m
Everest Amaefule and Obinna Ezeobi, Abuja


The Bureau of Public Enterprises on Thursday sold 51 per cent equity in the Port Harcourt Refinery to Bluestar Oil Services Limited Consortium.

The Bluestar Consortium comprises Aliko Dangote’s Equity Energy Resources; Femi Otedola’s Zenon Oil and Transnational Corporation.

It paid $561m for the refinery, which produces 210,000 barrel of refined petroleum products per day.

The transaction which was one of the 18 concluded by the BPE on Thursday, however, led to the closure of the headquarters of the Nigerian national Petroleum Corporation in Abuja by protesting members of the National Union of Petroleum and Gas workers.

A source at the BPE told our correspondent that equity Energy Resources owned 60 per cent equity stake in the consortium, Transcorp 10 per cent and a technical partner 10 per cent.

“This $561m they offered is above the reserve price,” Reuters quoted an official of the bureau, Mr. Patrick Akinkotu, as saying.

Bluestar was the only bidder for the refinery after the two other bidders- Oando Plc and a consortium led by Petroplu of Switserland, were disqualified for failing to include a bankdraft with their bids.

Although Refinee had at the first round of the bidding offered $350m ahead of the Bluestar consortium, it was disqualified because it did not include 50 per cent of the bid price.

Oando was disqualified when the N10bn draft it enclosed failed to match 50 per cent of the $200m it offered to pay for the refinery.

Having been cleared to proceed to the second round, Bluestar raised its offer to $561m and provided a draft for $300m to cover for the initial deposit of the bid price.

In an interview with journalists, Dangote expressed satisfaction with the conduct of the exercise.

He said that Bluestar would invest $200m in the first phase of expanding the refinery.

He said, “There is nobody that will come and grow our own economy for us and that is why we are heavily investing. We believe in the country and we believe in the economic policy of Nigeria and that’s why we are here to make sure that we bid and win. It’s not only about winning. It’s about where do we go from here.

“We intend to make sure that we expand the refinery. Apart from that, we already have plans to build a refinery of 300,000 barrels per day in Lagos. Because really it is very criminal to be importing petroleum products of $9bn when we are a producer. That is the main reason why we are here.

“Right now, for the reactivation, we intend to pump in $200m; that is for the first phase. The second phase is to double capacity of the refinery which I think is going to cost us about $3bn and we are ready to do that.”

In another transaction, the Dangote Group emerged the preferred bidder for the Onigbolo Cement Company in the Republic of Benin after staking a price of $1.781bn.

For the Kaduna Refinery, however, the sole bidder China National Petroleum Corporation – could not match the reserve price after offering $102m.

[b]The Egbin Power Plc was also sold to a foreign firm, Korea Power Corporation Energy Resources Limited , for $280m.[/b]Concessionaire for the Ajaokuta Steel Complex, Global Infrastructure Nigeria Limited, also bought 60 per cent of the complex for $525m to become a joint stakeholder with the Federal Government, which retains 40 per cent.

Infrastrutica emerged the preferred bidder for the National Arts Theatre Lagos. The company staked N35.84bn for the 35-year period it would manage the national facility.

On the other hand, BHS International emerged preferred bidder for Tafawa Balewa Square. It will pay N9.5bn spread through the 25-year period it is concessioned to manage the complex.

Similarly, Aulic Nigeria Limited emerged preferred bidder for the Lagos International Trade Fair Complex. It staked the sum of N40bn spread over a period of 25 years of concession.

The sole bidder for Ayip-Eku Oil Palm Company, Wingsong M-House Palm Oil Investment Limited, emerged the preferred bidder at a price of N527m.

On the Kaduna refinery, the Chinese firm which had been offered the refinery by President Olusegun Obasanjo for the Chinese various involvements in several sectors of the economy declined to raise its offer when it was told that the offer did not match the reserve price.

Consequently the matter was to be referred to the National Council on Privatisation, which was scheduled to meet Thursday (yesterday) afternoon.

Although KEPCO was the sole bidder for the Egbin power plant, Chairman, Technical Committee, NCP who conducted the sale of the enterprises with BPE Director General, Mrs. Nkechi Chigbue, announced that the offer was above the reserve price.

Consequently, it was designated as the preferred bidder subject to the approval of the National Council on Privatisation, which rectifies transactions conducted by the BPE.

Although BPE had about a fortnight ago announced that four firms – Dangote Industries Limited, Flour Mills of Nigeria Plc, SCB Lafarge and BUA International Ltd – were bidding for Onigbolo Cement Company, Dangote eventually emerged sole bidder.

The Federal Government has 43 per cent stake in the company; technical partner, F.L Smith, owns six per cent, Benin Republic has 51 per cent. It is the Federal Government’s stake that was sold to the Dangote Group.

Several Liquefied Petroleum Gas depots, coal blocks and mining titles to varied minerals were also sold to several investors.

Meanwhile, the National Union of Petroleum and Natural Gas Workers on Thursday sealed up the premises of the Nigerian National Petroleum Corporation in Abuja, demanding that the Bureau of Public Enterprises suspend the sale of Kaduna and Port Harcourt Refineries.

The Group Chairman, NUPENG, NNPC, Mr,  Williams Ibiba Inko, said the privatisation was not transparent and that labour issues were not resolved.

“We are not against privatisation but let the government resolve issues pertaining to our severance benefits,” he said.

The workers estimated about 4,000 workers will lose their jobs out of the present 9,000 after the privatisation process.

“Even the BPE confirmed that the process will lead to job losses to the tune of about 4,000 when the two refineries and Pipeline and Products Marketing Company go out for sale,” Inko said.





It has an installed production capacity of 500,000 metric tonnes of cement per year and an integrated plant that uses limestone and clay found on location.

Sahara Energy Resources Limited emerged preferred bidder for Calabar LPG depot at a price of $11.11m. At a price of $10 million, MRS Oil and Gas Limited emerged reserved bidder.

For Kano LPG, MRS Oil and Gas Limited emerged preferred bidder at a price of $4 million.

Some of the bidders for the LPG blocks were declared winning bidders although their bids did not match the reserved prices. Such bids would be referred to NCP for further directives.

Those that bidded for coal blocks included Western Metal Products Company Limited, MINL Limited, Ken Pauline Investment Limited, Taurin Iron & Product Limited, Western Goldfields Limited, GINL and Denca Services Limited.

For the mining titles, the prospective investors included New Nigeria Development Company, Osychris Industries Limited, Savanah Gold Limited, Mineral Watch Consults Limited and Equator Mines Limited.

Others are Ken Pauline Investment Limited, Western Metal Products Company Limited, Segilola Gold Limited, Livingspring Minerals Products Company Limited and Shoreline Power Company Limited.

Protecting Intellectual Property
By John Campbell
WHEN intellectual property rights protections fail, the results can be deadly. During a meningitis epidemic in Niger in 1995, more than 50,000 people were inoculated with fake vaccines, resulting in 2,500 deaths. Thirty infants died in India in 1998 and 89 Haitian children died in 1995 from cough syrup prepared with a toxic chemical used in antifreeze. The 1989 crash of a Norwegian aircraft was blamed on a fake bolt in its assembly; fifty-five people died.

"Intellectual property rights" is a fancy name for product accountability and the protection of human creativity. It's the legal mechanism - through copyright, patents and trademark - that ensures that the products we buy are genuine, and that someone else doesn't take credit for our ideas. Intellectual property rights don't just protect inventors; they protect everyone whose safety depends on product reliability in every country in the world, including Nigeria.

The protection of intellectual property rights enhances countries' development, and promotes their business and artistic environments. Such protections stimulate advances that benefit the entire world - in the form of technology, medicine and other processes. Protecting intellectual property is crucial to protecting public health and safety in countries across the globe.

Why should we care about protecting intellectual property? At the dawn of the 21st Century, 70 per cent of global economic output is generated by services, many of which depend on new and evolving technologies. Global GDP grew twenty-fold in the last Century - from $2 trillion to $41 trillion and most of this increase was due to innovation. In 2004, the World Economic Forum reported that the 20 countries perceived as having the most stringent intellectual property protection were among the top 27 countries in terms of economic growth competitiveness. In contrast, the 20 countries perceived as having the weakest intellectual property protection were among the bottom 36 countries.

In a world where ideas form the common currency, intellectual property piracy erodes a country's economy and its cultural identity. The Nigerian film industry, "Nollywood", has suffered from the action of pirates. Soon after Nigerian films are released - they are released on video, not celluloid - pirates copy the films. The marketers earn money back from their initial outlay to have the movie made, but there is no further trickle down money to the producers, creators and actors.

According to Charly Boy, immediate past president of the Performing Musicians Association of Nigeria (PMAN), "fighting piracy is everybody's business. The pirates are killing everybody's creative endeavours in this country and have driven big businesses out of town, now it is time for us all to put our hands together and drive them out of town".

Copyright laws encourage the creation of literary works, computer programmes, artistic works and expressions of national culture. Patent laws encourage the discovery of new and improved products and processes, while ensuring the freest possible public access to information regarding those new products and processes. Trademark laws encourage the development and maintenance of high-quality products and services, and help companies promote customer loyalty.

Information and communications technologies, safe medicines and the other innovations that form the backbone of today's economy are only possible because of intellectual property rights. The hopes we all have for a better future depend on those inventors and innovators who will make the world more bountiful - if their creative efforts and hard work are protected.


Campbell is U.S. Ambassador to Nigeria.

http://www.guardiannewsngr.com/editorial_opinion/article03

Who does not like shopping, but when we begin to treat it as a disease that we cannot cure, then that is where I have problem. I see people who complain of being addicted to shopping as spoilt brats. Simply solution is to give your money to charity or go to Darfur, Sudan. This is an affluent lifestyle that is mired in consumerism. I want to have it all attitude

2dye4 @

Let me help you out. my reference to that song is not in any regard to the credibility of the musician as an expert on matters of the heart (by the way, she didn't write the song), also that musicians are out to make money does not totally mean of they are entirely shallow. the logic is simple, "is cutting your head of the ultimate remedy for a migraine"? after coming this far on lovers lane with the lady, he thinks reverting back to tha "good ol' friendship" is the way out of his issues? my apologies, but that's  so lame!


Like I said Nelly lyrics are not for rocky relationships like this one. This needs real life solutions. She has to take into account that the guy is worried about his job.  I don't know of any man except you who wants get jiggy with it when he is about to be financially divorced. Is it lame now to tell the girl situation of things or get married and they will be in  financial limbo all  in the name of love.  I don't know of any where love thrives without maintenance.

As for me getting therapy, maybe you need to re-examine yourself because  U don't care if your house is on fire. You sounded like “mama thank ma boy'' What is your level of responsibility in your parents’ house?

2dy4

i dont know what you meant by nelly furtado's song, but musicians are in to make money. celebrities talk about love, act it and sing it , but hardly know what it means. they have the highest break up/divorce rate in the world. As for me my magic stick does not get up when I am in deep financial stress. I dont know about.

http://www.businessdayonline.com/print.php?a=13283

http://rankings.ft.com/rankings/openProgrammes/rankings.html


Lago Business School Attains World Ranking

http://news.yahoo.com/s/ap/20070517/ap_on_el_pr/candidates_finances


Giuliani, Edwards report income By JIM KUHNHENN, Associated Press Writer
1 hour, 53 minutes ago



WASHINGTON — Republican presidential candidate Rudy Giuliani reported a whopping $16.1 million in earned income over the past 16 months, most of it in speaking fees, according to financial documents filed Wednesday.

Democratic hopeful John Edwards reported earned income of $1.25 million, the biggest single source of which was a hedge fund that employed him part time. He and his wife, Elizabeth, reported $29.5 million in assets, including millions invested in the hedge fund — the Fortress Investment Group.

Giuliani's report provides the first detailed picture of his vast holdings and income since his term as mayor of New York ended more than five years ago. Since then, Giuliani parlayed his image as an in-charge mayor during the Sept. 11, 2001, terrorist attacks into lucrative speaking fees and business enterprises.

He reported $13 million to $45 million in assets, including his share in Giuliani & Co., a partnership that provides an array of consulting services. He also listed income from dividends and interest on many of those investments of at least $411,332 and as much as $3.3 million.

The reports were part of a flurry released Wednesday by the Federal Election Commission. The deadline for filing was Tuesday, though several candidates received 45-day extensions, including Democrat Hillary Rodham Clinton and Republicans Mitt Romney, John McCain (news, bio, voting record) and Tommy Thompson. Republican Jim Gilmore asked for and received a 30-day grace period.

Sen. Barack Obama (news, bio, voting record)'s report showed a surge of interest in his writings as he drew closer to a presidential bid, earning more than a half-million dollars in 2006 in royalties for one book and an advance for another.

The Illinois Democrat received $572,490 for the books — his best-selling memoir, "Dreams of My Father" and "The Audacity of Hope," an account of his political journey.

Giuliani's biggest single source of income between January 2006 and February 2007 came from speaking engagements around the world. He grossed $11.4 million in speeches, which includes fees retained by the Washington Speakers Bureau. He typically charged $100,000 per speaking engagement and as much as $200,000 on occasion.

After speaking at an event in Louisiana for the PGA Tour, Giuliani donated $80,000 to New Orleans charities working on the aftermath of Hurricane Katrina.

Giuliani reported income of $4.1 million from Giuliani & Co., and $1.2 million from Bracewell & Giuliani, a law firm that also provides lobbying services for its clients. Giuliani also received $146,092 in royalties for "Leadership," a book about his experiences during and after the terrorist attack on New York.

His assets include a personal loan of $250,000 to $500,000 to Kenneth Caruso, a senior lawyer at Bracewell & Giuliani, and a decades-long aide to Giuliani.

The disclosure forms do not provide a precise accounting of the candidates' assets and investment income, requiring only that filers list those amounts in ranges. However, the Edwards campaign supplemented its reports with more detail, including the value of the couple's total assets.

Edwards, who has made fighting poverty a signature element of his campaign, said his work for a fund that generally caters to the wealthiest of investors was designed to educate him about the way financial markets operate. Fortress paid Edwards $479,512 for his consulting services.

The candidate and his wife had $1 million to $5 million in the Fortress Investment Fund III, a Fortress subsidiary that invests in businesses in the United States and Western Europe. He had lesser amounts in other investment funds.

Edwards received about $395,000 in paid speeches — most of them at colleges — and was paid $40,000 salary for work at the University of North Carolina Center on Poverty, Work and Opportunity.

The Edwards family donated more than $350,000 to charity, including the International Rescue Committee and Habitat for Humanity.

Edwards' largest holding was a conservative investment: $5 million to $25 million in a money market fund, Columbia Cash Reserves.

Edwards also received $333,334 in royalties for his book "Home: The Blueprints of Our Lives." The money was donated to charity.

The former North Carolina senator owned several properties in his home state, including buildings in Raleigh worth $500,000 to $1 million each. He also owned land in Raleigh valued at $50,001 to $1 million.

Edwards listed only two liabilities: a variable line of credit from Bank of America of $500,001 to $1 million and a mortgage on one of his Raleigh buildings, worth $15,001 to $50,000.

Obama and his wife, Michelle, reported assets ranging from $457,000 to $1.14 million — far more modest than most of the other leading presidential candidates.

The Obama campaign announced Wednesday that the couple this year transferred about $180,000 in assets they held in the Vanguard Wellington Fund to Vanguard FTSE Social Index Fund after discovering that a small amount of the Vanguard Wellington Fund is invested in an oil field services company active in Sudan.

Republican presidential candidate Sam Brownback (news, bio, voting record), an outspoken critic of the violence in Sudan, also divested his stock portfolio of companies that do business with the African nation.

The Kansas senator listed sales of nearly two dozen investments, several of which were mutual funds whose holdings include companies active in Sudan, according to a financial disclosure report he filed Tuesday. Among them was a mutual fund in the name of Brownback's wife, Mary, valued at between $50,000 and $100,000. Other Sudan-related investments were in the names of the couples' children.

New Mexico Gov. Bill Richardson, a Democratic presidential candidate who has called for a dramatic reduction in the use of fossil fuels, reported holding $250,000 to $500,000 in stock options from Valero Energy Corp. for serving on the company's board of directors from March 2001 to June 2002. Richardson also held $100,000 to $250,000 in Valero common stock.

In his report, Richardson, who was energy secretary in the Clinton administration, said he intends to divest himself of the Valero stock if he is elected president.

___

Associated Press writers Larry Margasak and Sharon Theimer contributed to this report.

http://www.businessdayonline.com/
May 15th, 2007
LBS attains world ranking



The Financial Times of London made public yesterday its latest list of the top 50 business schools world-wide in the area of open enrolment executive education programmes and for the first time ever, the list includes a Nigerian institution, the Lagos Business School.
According to Mike Okolo, spokesman for the LBS, "it is the first time that an African business school outside South Africa is included in this prestigious ranking."

He added "perhaps some considerations will help to appreciate better the significance of this event.

"In the first place, the Financial Times rankings have a well deserved prestige. Many newspapers and magazines compile rankings of business schools these days, but those of Business Week and the Financial Times stand out among them.

"While Business Week focuses on American schools, the Financial Times is considered by many as the pre-eminent international ranking."

The methodology used by the FT is rigorous and its rankings are compiled on the basis of data from the schools themselves, participants in the programmes and third-party sources. Many business schools all over the world work very hard to be included in it.

According to the LBS, "to gain insight about the significance of being included among the best 50 providers of executive open enrolment programmes, it is useful to consider how many—and how good—are the schools that do not manage to get included in that select elite."

•The total number of business schools in the world is estimated by the top accreditation agency to be around 10,000; new ones are created literally every week.

•In the UK alone, there are over 100 business schools; only four of them managed to be included among the top 50 worldwide in open enrolment programmes.

•A country as economically powerful as Germany has no school in this ranking; only an Italian school is included; and there are no schools from Eastern Europe or Russia. Even more significantly, not a single Asian school was included, even though India, China and the Philippines have a good number of very well respected schools.

In its statement yesterday, the LBS congratulated its alumni and the entire business community in Nigeria, saying, "perhaps no other business school in the world has had the degree of support—moral and material—from the immediate business community that LBS has enjoyed during these years.

"Accordingly, this achievement belongs not only to LBS, but to all those who have contributed to make it possible."

T

he journey of the Lagos Business School began 15 years ago with the launch of the first executive education called the Chief Executive Programme, CEP. Since then, the school has grown to become one of the best in sub-Saharan Africa.

http://www.businessdayonline.com/print.php?a=13283

http://rankings.ft.com/rankings/openProgrammes/rankings.html

YES, private universities did not measure up.

I was thinking of crossbreeding business ideas between African and African American business leaders. Bruce Gordon, former executive of Verizon Wireless could use his influence to mobilize some US Telecom companies to partner with some African Telecom Moguls like Strive Masiyiwa of Econet, Dr Mohamed of Celtel, Adenuga of Glo etc.

Likes of Kenneth Irvine Chenault  of American Express could also use his influence to expand his  financial service products through some African banks.

Bob Johnson Ex CEO of BET is making massive investment in the Caribbean.  I think that African business leaders could tap on black economic power in the US. I think African leaders have overlooked this powerful economic demography.

I would also think that Wall Street is more willing to put their money in any investment where an African American heads than an African. So, they have the edge. It’s high time we changed our business policies.

What do you think?


http://www.rljcompanies.com/about.htm
http://www.time.com/time/2002/globalinfluentials/gbimasiyia.html
http://en.wikipedia.org/wiki/Bruce_S._Gordon
http://news.bbc.co.uk/2/hi/business/3854495.stm
http://en.wikipedia.org/wiki/Kenneth_I._Chenault

you said something about his job challenges. Maybe he is the kind of person who does not get an erection when their source of income in on the line. Talk to him about his concerns and worries. Sometimes it puts men off when some women want to be loved and pampered when their Central bank is going down south.

http://allafrica.com/stories/200705160728.html

http://www.webometrics.info/top100_continent.asp?cont=africa


Country Varsities Out of World Ranking

Daily Champion (Lagos)
NEWS
16 May 2007
Posted to the web 16 May 2007

By Erasmus Alaneme
Abuja

AFRICAN universities were again at the receiving end as the World Universities Webometric ranking released yesterday showed that only University of Cape Town, South Africa was listed among the first 500 best universities worldwide.

Also, on the continent's ranking, Obafemi Awolowo University (OAU) Ile-Ife came a distance 44th position on the list of the first 100 best universities in Africa.

These declarations emerged even as the National Universities Commission (NUC) yesterday insisted that programmes offered by the National Open University of Nigeria (NOUN) have not been accredited.

Daily Champion gathered that of the 500 universities listed, United States of America and Canada accounted for 238, while Europe, Oceania, Asia and Latin America got 211, 21, 20 and nine universities in that order.

Although only Univeristy of Cape Town made the 500 list, it however did not rank among the first 200 universities in the world.

According to the NUC only four Nigerian universities OAU ranked 44th followed by the University of Ibadan (UI) on the 65th position, University of Benin (UNIBEN) 79th position and the University of Lagos on the 90th slot made it among the first 100 universities in Africa.

Declaring that the country's rating has further dipped this year, the NUC noted that in 2006, five Nigerian universities UI, OAU, UNIBEN, University of Lagos (UNILAG) and University of Jos, (UNIJOS) ranked among the first 100 universities in Africa.

However, proffering reason for the poor outing, the NUC attributed it to the fact that previous research findings by academic in the nation's universities were not respected.

Meanwhile, the NUC through its executive secretary, Prof Julius Okojie yesterday reiterated that the programmes offered by NOUN were not accredited.

Prof Okojie who spoke during the meeting with the University management said on the status of the institution that "it was a statement of fact that NOUN's programmes had not been visited/accredited by NUC".

The NUC in its weekly bulletin released on Monday noted that to receive approval or recognition of the establishment of programmes or institutions was quire different from programme accreditation.

According to him, programmes could only be visited for accreditation when they have mature which in the case of NOUN and other distance learning programmes will be after three years, promising to send accreditation team to assess the programmes of NOUN at the appropriate time.

oludunamis

well done.

Why would people call Niger deltans lazy?  Folks say that Yorubas are smarter than most tribes. Every advantage they have gained came as a result of other people' maltreatment. Awo gave Igbos  20 pounds and then introduced indigenization policy. Most Yorubas bought over multinationals.

OBJ came into office and used his power to favour likes of Adenuga, Otedola and Fasawe. Maybe we should call this nepotism not tribalism. Nobody has been able to tell me what they were worth before 1999

Here are some hard facts. Yorubas dominate banking industry but could not fix CBN until an Igbo slave - Soludo- was drafted to do their job.

They dominate capital market, but could not fix it until another omo Igbo rebel- Okereke- was drafted to till the ground for them.

Likes of Adenuga play big roles in Telecome until another Igbo secessionist - Ernest Ndukwe was drafted to build the industry. Monkey dey work Baboon dey chop.

Hausas took the glory for fighting the war even though most officers were from middle belt region.

Hausa borrowed and squandered   about $ 300 billion, and did not know how to confront their white lenders and accomplices, Igbo Nyamiri – Iweala was brought home to fix their problem.


This is the same way Adenugas,  Tinubus and Co  are best brains in Naija even though Nigerian oil companies were sold to them at Salvation Army prices.

I know that Niger Delta governor are all corrupt, but no Swest governor did what Donald Duke did for Cross River.

This is how things work in Nigeria.  Igbos are problem solvers, Niger Delta keeps Nigeria running with their oil.  Hausas use phony census figures to control power. Yorubas are deal makers.


Seun001.
The reason why South South did not win presidency is not because their leaders sold out, it’s the same reason why they cannot control their oil. Oil and presidency are in exclusive list.  If the whole ND had voted for a candidate of their choice, it could not have changed the outcome in their favour given the fact that Kano  and Lagos would  outnumber the whole ND region.
Make no mistake about it because Yorubas never crowned OBJ. In fact he became president in spite of Yoruba’s opposition to his candidacy. If he became president, why would you think that  Niger Delta’s opposition would have stopped anybody?

Debosky @
please fill in this blank space. If a wicked rich man in your village takes your land by force, builds a factory and tells you that you are lazy, is that entrepreneurial spirit or covetousness?

Seun,
I thought you would be first to defend the government, but you were more than objective. Thanks. Economic 101 scale of preference. Why send satelite when no Naija universities made it in Africa's top 40?

http://allafrica.com/stories/200705160728.html

Mckren can you tell me if ICT is a luxury or necessity? What is percentage of Nigerians that have access to computers let alone internet?  Most college students don't have access to internet and we are talking about long term. Can you tell me  if South Africa and Egypt with better ICT infrastructures started by sending  satellites in the space?  Do you know that NB PLC AMA Brewery was built with under $300 million? It’s the biggest brewery in Africa and its economic impact is massive. Why does Nigeria need two satelites when our airports do not have effective radar systems? By the way, Govt does not provide food, but we still import fertilizers. What are we saying about poverty in the West? Don’t  their poor people get food stamps, subsidized housing, heating and allowance? Let’s not confuse things 


As for those blaming generator seller and importers, I hope this finger pointing is not aimed at Idumota traders who are mostly Igbos. By the way big players in this industry are likes of John Holt PLC , Perkings and Yamaha.

jakumo

I thought we dealt with these so called saboteurs. Your govt in unable to provide constant electricity and you are blaming generator sellers and importers. Be realistic

seun001

^{THE NIGER DELTAS CAN EAT ME UP BUT MY OPINION IS THAT GO AND ASK YOUR LEADERS WHAT THEY HAVE USED YOUR ALLOCATIONS FOR ALL THESE YEARS.Y'LL HAVE REFUSED TO ACCEPT THE TRUTH,YOUTALK THAT YOU ARE BEEN SHORTCHANGED,MEET YOUR LEADERS,MAKE THEM ACCOUNTABLE AND AM SURE YOU WILL START SEEING A DIFFERENCE.
ARE YOU EXPECTING TO BE GIVEN MONEY WITHOUT WORKING FOR IT.I HEAR ALL THESE MILITANTS ARE STINKING RICH AND WHEN IT SEEMS AS IF THEY ARE GETTING BROKE THEY KIDNAP SOME EXPATS INRETURN FOR MONEY.AGAIN I SAY ASK YOUR LEADERS WHERE ALL THE MONIES HAVE GONE.}

May be you should  tell us what your leaders have done differently if  not that they favored their cronies to buy Govt owned companies at  Wal Mart rollback prices. Maybe you need to tell me what Adenuga and Otedola were doing pre 1999. Maybe you also need to tell us their source of income. If these cronies were geniuses, as you portray them, why didnt they start their own oil companies without any government connection.

^{I THINK U PEOPLE SHOULD ALSO UNDERSTAND THAT THE YORUBA PEOPLE HAVE ALWAYS BEEN AGAINST OBASANJOS GOVERNMENT.WE HAVE NEVER BEEN IN SUPPORT OF EVERYTHING HE STANDS FOR.IN FACT WE HAVE ALWAYS BEING HIS GREATEST OPPOSITION.THERE ARE ENUF INSTANCES TO BUTTRESS THIS POINT.}

Na true talk my brother. You never supported him but counseled Olu Falae not to seek redress in the court. Even though AD  never met  INEC guidelines, it was allowed to become a political party. AD never fielded opposition presidential candidate in 2003 elections. I wonder if these actions could convince a block head like me that you never supported OBJ. Its time we stopped peddling all these beer parlour stories.

^{IN MY OPINION THE IGBOS ARE THE MOST TRIBALISTIC IN THIS NATION,CANT RECOUNT THE AMOUNT OF EXPERIENCES I WENT THRU IN THE NYSC CAMP BUT I CAME TO THAT CONCLUSION WHEN I WENT FOR MY NYSC.DONT GET ME WRONG COS I HAVE IGBO FRIENDS AND I TELL THEM THIS WHENEVER IT CROPS UP IN OUR GISTS AND THEY MAKE A FEEBLE ATTEMPT TO CHANGE MY OPINION.}

True talk, maybe you did not know that your tribe just catched  up with  the rest of Nigeria. It took Yorubas 47 years to vote for a president who is not from their tribe.   They only voted Yar'dua because there were no serious contenders from South -west. Don’t get me wrong  because Hitler’s mom was  half  Jewish but still hated Jews

^{BUT THEN THE IGBO PREFER TO BUY AND SELL THAN TO WAIT FOR OIL TO BE CONVERTED INTO PMS AND THE LIKES.EVERYBODY IS TRIBALISTIC IN THIS COUNTRY WHETHER WE LIKE IT OR NOT THIS IS A FACTOR WE HAVE TO DEAL WITH.}

I hear you, and Hausas like to herd cattles yet they are in top management position.  You are just making excuses for lopsidedness in oil wealth. You did not see ANY problem with Nigeria, but with Niger Deltans. It took Niger Deltans 47 years to have a VP position maybe that was there fault too. Or their leaders sold out. Corruption is only   domiciled in ND. I wonder why the rest of Nigeria has not progressed without oil wealth if non Niger Deltans were all  Bill Gates.

http://news.bbc.co.uk/2/hi/africa/6653067.stm?ls
China has successfully launched a communications satellite for Nigeria.