₦airaland Forum

Sonye (in bed),

yes it is darling. its adultery, which is of course a sin. i didn't write it. its all in the good book called the bible. being a pastor is not that easy. there are so many things you have to abide by. and you have to live your life as an example for others to learn.

i guess that does not include Thou shalt not steal since Daddy GO is reciving stolen goods/money from his main members/donors.
Any comments?

switch47:
YES, Pastor Adeboye Has a very humble disposition, May God continue to bless his ministry that has been ablessing to Thousands both rich and poor. GOD BLESS PASTOR ADEBOYE!!

HOW HAS IT BEEN A BLESSING TO THE POOR
Can you please explain in concrete, measurable terms.

oyb:
http://www.efccnigeria.org/index.php?option=com_content&task=view&id=690&Itemid=34


dudes could work on their english. . .

for others who may also be worried about EFCC's English and other issues you may report your suspicions to INTERPOL:

http://www.interpol.int/public/mail/mail3.asp?id=info

Let's stop complaining about our leaders this & that and do our little bit to have a better society where there is adequate reward for hard, honest work rather than everyone miming 50 Cents hit- Get Rich or Die Trying.

switch47:
BY GRACE are we saved!! The grace of god covers all. (skip) God will show mercy to whom he will and compassion onto whom he will.

Oga switch,

If your assertion above is correct and you believe it, why do you go to church or why should anyone go to church/mosque/shrine to see any pastor/imam/oluwo to intervene on his behalf to God
I hope you can come up with a reasonable answer as I see that you are very knowledgeable and have wisdom about God's ways with men.

otokx:
EFCC welldone; little drops of water make a mighty ocean.

exactly, we need to start somewhere and we can help by reporting the fraudulent people around us on specifics (after warning them to change for better of course)

info@efccnigeria.org

THE AMAKA:
it would be rigged anyway!

so what evidence will the courts have to annul the elections if voters don't show up to vote for their candidates?
how many thugs (uniformed & non-uniformed) will be used to rig versus how many potential voters?
if everyone seats at home becos it will be rigged they just make teh job easier for the thugs!

naijamark:
We are still talking about "interswitch scam" here. The latest in town is the fifa 2010 thing, the scam says you won =N=1,000,000! This huge sum is too large for you to ignore, I have seen guys who stupidly fall for this crap, what game did you play to have brought this huge winning? The sms directs you to some fifa2010 or so website where you are then required to submite you ATM details (with PIN). At this stage if you are not stupid, you should just close that page!

better still forward the scammers' mobile number to EFCC'S email address:

info@efccnigeria.org

that way u would have done your bit about making sure crime does not pay.

breathless:
I agree wit kevd4real. How come d sick man in aso rock is in a hurry 2 approve d removal of d MD/CEO of those banks wen there are more than enough pressing issues 2 be solved.

this is d modern economy where the financial system is very key to how other aspects work. Maybe you did not notice the vigour with which Europe and US tackled their financial crisis in order to make credits flow and the economy back on its feet.
We should be worried about those whose savings arewere with these sharp suited thieves who should be sweating in some sahelian prison.

breathless:
wit a sick president come a sick nation.

what did u do to prevent the sick president being your head
did u register, did u vote? how many people did you convince to do the same?
continue to complain and wait for God Rawlings to come and kill all our relations and friends and friend's relations who are stealing us blind.

Nchara:
I hope he is concerned with where the monies his members are donating come from. Some will steal and give to him. That is not God's idea of tithing, I am sure.

Wetin concern agbero with overload. Abeg forget the commandment "Thou shalt not steal" Mr. GO don rub dat one comot from im Bible. Somebody shout Hallelujah.
Apparently Adeboye cannot follow the example of Jesus Christ, whom he claims to represent. Compare Adeboye's spin with what Christ shared with Zaccheus in Luke 19:

2 And, behold, there was a man named Zacchaeus, which was the chief among the publicans, and he was rich. 3 And he sought to see Jesus who he was; and could not for the press, because he was little of stature. 4 And he ran before, and climbed up into a sycomore tree to see him: for he was to pass that way. 5 And when Jesus came to the place, he looked up, and saw him, and said unto him, Zacchaeus, make haste, and come down; for to day I must abide at thy house. 6 And he made haste, and came down, and received him joyfully. 7 And when they saw it, they all murmured, saying, That he was gone to be guest with a man that is a sinner. 8 And Zacchaeus stood, and said unto the Lord; Behold, Lord, the half of my goods I give to the poor; and if I have taken any thing from any man by false accusation, I restore him fourfold. 9 And Jesus said unto him, This day is salvation come to this house, forsomuch as he also is a son of Abraham. 10 For the Son of man is come to seek and to save that which was lost.

Note carefully that he did not give the half of his property to the synagogue (church), not to Jesus or his disciples to propagate the gospel etc but to the poor. Also note that he promised four-times restitution to those whom he received egunje & bribes from.
The mugus wey dey follow follow no go check and compare dem Bible so tey dem go continue dey fall for general message directed to many that will certainly catch a few.

[quote author=tonye-t link=topic=307798.msg4349550#msg4349550 date=1250237824]@Chukwudi and Jagoon,

If you are very sincere with yourself and unbiased in issues of the scriptures, kindly show to me where it was stated in the OT of titheing being a LAW plainly. If you can , then believe me i'll succomb
[/quote]Maybe your Bible does not contain this passage: Matthew 23:23

23 Woe unto you, scribes and Pharisees, hypocrites! for ye pay tithe of mint and anise [1] and cummin, and have omitted the weightier matters of the law, judgment, mercy, and faith: these ought ye to have done, and not to leave the other undone.

Or maybe someone tore off these 25 OT passages from your Bible:

http://www.christnotes.org/bible.php?q=tithe&ver=kjv&as_within=1-39

Daji31:
For those who hold the opinion that people are not being forced to join such clubs should also consider that yahoo boys do not force money out of people's pucket. They sell out same message to several people and some fall for the tricks.

Are you implying that our daddy GO's church business model is no different from that of yahoo yahoo boys
Abeg softly, softly oh before those who willinglytremblingly "fall for thehis tricks" strike back at your insinuations about the highly reverred daddy GO who hears directly from his daddy things that are contrary to the inspired, written words (the Bible) of his claimed daddy. I wonder what one calls such a son
Anyway as his follow follow people (followers) cannot check their Bibles to verify daddy GO's spins they only have themselves to blame as Erastus formerly of Intercontinental Bank must be realising now

Sagamite

It is when then they lose all their money in a Naija bank or their parents lose their life savings and pension that they would realise the importance and significance of doing this.

Thanks for the above. Most of us cannot see beyond our nose to realise how these pen robbers affect us also.

Rich Diddy:
@Iranola: I dnt know hw much Redeemer's University is or the secondary school but let me ask you sincerely, what is the cost of giving sound & qualitative education? It's expensive, how wld the lecturers be paid? It's expensive, hw would u get the best of lecturers? I went to a federal university and spent more time than I should have cos of incessant strikes and of course we hardly had good infrastructure to be better than we ought to. Is it with our teeth the infrastructure would be provided? Can u maintain a school hall (per student per room) on the less than 1000 naira we used to pay back then in federal tertiary institutions? I'm 1 on those who believe we should pay some good sum for quality education. In doing so is where the scholarships should come in. Can we get some balance here. We desire for our children to go to IVY league schools (best schools in the United states) at what cost?

If you don't know you should ask and have your info before you go on. Someone who knows ventured her opinion on the exhorbitant cost.
I guess you know how many scholarships RCCG schools give. Would you mind sharing that info with us please as is done by IVY league schools abroad on their web sites

vission:
the toilets and bathroom mentioned are not refering to the ones in GO'S house, millions of people attend the conventions and holyghost night monthly from all over the world, there is need to provide adequately for the toiletery. if you have been to the camp you will know what i'm talking about, they are not even enough as you see crowd form long lines to bath etc, that is the reason why more are to be built.

in summary it is not daddy GO's priority to use the billions raised through various church schemes to ensure there are enough funds to keep the toilets and bathrooms on the grounds clean-right
is that akin to the compassion Christ showed in feeding thousands with 5 loaves of bread and 2 fish?
so Adeboye cannot be bothered about people's BASIC comfort to urinate and wash but he can be bothered about building an auditorium with seats (that are not charged for BTW) since he knows they will give offerings and unbiblical tithes after dancing and rejoicing in his daddy's presence and shouting hallelujah- good but wicked/devilish business sense.

vission:
if people are been brainwashed to serve their God, leave them, after all they are not carrying guns to proof this, neither are they killing people in the process.

i don't think 419 people also carry guns to threaten (and kill if necessary) their victims too. so vission link, are you confirming that Adeboye is also a 419 person

vission link, abeg careful wetin you dey imply for MoG Adeboye oh before his MOPOL angels come strike u.

[quote author=Tudór link=topic=308068.msg4344332#msg4344332 date=1250160612]Where are the rehabilitation centers?
Where are the child support facilities?
Are they located on the moon?!?

Where are their visible impacts on the life of Nigerians?
Question! Question! Question!![/quote]Switch47 and other Adeboye defenders can you please kindly answer the questions above. Reference to the church's web sites and/or schools will be enough.
Thanks in adavnce.

Gbomojomo2

i will only want him to start asking his followers where they get their money from before collecting it from them espeacially the public office holder amogst them

Daday GO no fit see that kin vision, na im fit stop da flow of filthy lucre while the nation languishes in darkness, unemployment, roberries, kidnapping etc.
Someone shout hallelujah!

rapaddict:
Whats up folks. I heard about this case last week and i really am surprised to read about it no nairaland. Never knew it was this big. I heard about the case because imo is from my place and he's a distant uncle. His source of wealth has always been questionable. This is as a result of how quick he rose to the limelight and his flamboyant lifestyle since. His lawyer saying he does not live extravagantly is like saying dogs dont like bones. He built a mansion in less than 3 months! Drives a bulletproofed hummer, has a 2008 escalade in his garage. But, he put a lot of his money into good use though. Built school blocks, put street lights in our community, made people car owners, I pray the united states temper justice with mercy.

* like they did to Madoff who got 150 years in jail.
** or maybe like Lay & Skilling of the Enron scandal who were also high level philantropists and politically connected but still got long prison sentences.
your townsman should have thought of the millions of poor Americans, including naija immigrants that were deprived of healthcare etc due to his fraudulent practices while he was doing acting big man in his village.

agitator:
I disagree you fit shoot the small errand boys we no get immunity. Then them no go get anybodyto send thief for them again.

back2back:
if you start with BIG thieves; OBJ, Bode George, Annenih, IBB etc small ones will give up!!!

there are many ways to solve any particular problem. . . the above represent two ways, out of so many, for solving the hydra-headed problem of corruption in Nigeria.

Mama Dora go pay pikin wedding to oyinbo man now abi re-branding, even at individual/family level, dey cost dollars nah
Ewu rebrander

Meanwhile back to the topic (BTT), how many people on this forum know this 54 year old Umawa Oke Imo who is a disgrace to our common patrimony- Nigeria.
Next time when you or your relation or friends are harrassed or given sly looks because you are a Nigerian or of Nigerian descent, think about Umawa Oke Imo atrocities and other rogues like him who we honour as Chiefs, Elders, Baba Adinnis, GCFR etc but whose very acts of ommission and/or commission make life a living hell for you and I within and outside Nigeria.

Meanwhile back to the topic (BTT), how many people on this forum know this 54 year old Umawa Oke Imo who is a disgrace to our common patrimony- Nigeria.
Next time when you or your relation or friends are harrassed or given sly looks because you are a Nigerian or of Nigerian descent, think about Umawa Oke Imo atrocities and other rogues like him who we honour as Chiefs, Elders, Baba Adinnis, GCFR etc but whose very acts of ommission and/or commission make life a living hell for you and I within and outside Nigeria.

ogajim:
I bet majority of those who pay tithe are just conforming or scared into paying it and not really paying from the heart, we need to educate them of this wrongful practice, it is our DUTY.

it is not only our DUTY but rather it is our CHRISTian duty to educate others and lead them to study their bibles beyond the overflogged blessing & curses texts.

Another round of teeth gnashing by those who have their money tied up in the soon-to-be-failed banks, while some thieving rats who are responsible go on to more awards and accolades and the victims attend their owambe parties still.
A country of MUGUS Incorporated
---------------------------------------------------------

Re-consolidation looms, CBN seeks only 15 banks
By Enitar Ugwu, Bertram Nwannekanma and Azimazi Momoh Jimoh

DANGEROUS signals of a looming distress in the banking sector due to the "bubble money" saga may have sent the nation's economic regulators to the drawing board.
Among the options reportedly being proposed by the Central Bank of Nigeria (CBN) is a fresh round of capitalisation by banks. It was learnt that very soon, the CBN would present the consolidation plan to the Federal Government.
Unlike the 2004 exercise where the CBN concentrated on raising the banks' capital base to N25 billion, the proposed scheme slated for early next year would encourage merger and acquisition among the operators.
If this option is accepted by the government, the CBN may canvass the reduction of the number of banks from the present 24 to 15.
According to sources in the industry, the CBN is targeting next year for the re-capitalisation scheme, which may prune the number of banks in the country to 15, excluding the re-licensed but yet to be operational Savannah Bank.
The sources claimed that the apex bank was worried over the "bubble capital" saga rocking the nation's financial institutions, accentuated by high profile "dangerous loans" given by the banks, under assessed poor management regime.
CBN's governor, Lamido Sanusi, had recently given an indication about the re-consolidation of the banks.
The Guardian learnt that this would be two-fold as foreign banks would acquire Nigerian banks and some strong local banks would also take over their weaker ones.
The early next year time-frame, The Guardian also gathered, is for the CBN to finalise its ongoing audit of the banks.
An official of the apex bank said yesterday that it is not yet clear if the coming consolidation will be regulatory body-induced or not, pointing out that, it is the outcome of the on-going audit that will determine that.
A top banker said that another pointer to that is the fact that institutional investors both within and outside the country are positioning themselves to be part of this exercise once it takes off, given the numerous enquiries they are making regarding the health of some Nigerian banks.
He stressed that given the hints dropped by Sanusi on the health of Nigerian banks in his interview with the Financial Times of London last month, it is obvious that, it is a way of preparing the banks and banking public for the impending consolidation programme.
In that interview, Sanusi said: 'My initial feeling is that there isn't any bank that cannot survive in one form or the other, either in the form of getting some of the stronger banks to put in equity and merge with them or inviting foreign banks and letting them agree on the conditions for them to invest capital and management and revive the bank."
On the question of whether the envisaged consolidation would be regulatory induced or not, he had replied: "I wouldn't force any consolidation but I think it's important to send out signals to the banks that may have difficulties, that merging with stronger banks is certainly a very good possibility for saving themselves and saving their businesses.
"And we would try to create an environment that encourages that. We would try to encourage foreign banks that are coming, not just with money, but with management and systems, to come in and acquire. But we will not force any bank to merge. We are not going to have a Bank of America-Merill Lynch situation."
Interestingly, to prove foreign banks' interest in Nigerian banking system, the Standard Bank Group recently revealed that it was poised to increase its share in the Nigerian banking industry with the expected consolidation programme.
The Chief Executive Officer, Standard Bank Africa, Mr. Clive Tasker, while speaking on the group's growth strategy in Nigeria, where it had only one per cent market share, said that Standard Bank was shopping for the next available opportunity to acquire another bank in Nigeria because of the market's importance.
He spoke during a press conference at the 3rd yearly Standard Bank of Africa forum in Johannesbourg, South Africa recently.
Also, speaking on the theme, "The Nigerian banking system and the challenges of the global economic crisis," at the seminar for finance correspondents and Business Editors recently in Markurdi, Benue State, the Managing Director of Bank PHB, Mr. Francis Atuche, had listed regulatory induced consolidation in the banking industry as one of the options open to the country.
He recommended that the apex bank should introduce surgical intervention in form of injection of liquidity into the banking system via government-funded soft loans and re-capitalisation and regulatory induced consolidation via encouraging the big strong banks to acquire the weak and the anaemic".
He said that the liquidation of every weak bank associated with insolvency could result in a severe erosion of confidence in the banking system and could precipitate a run on the banks.
Based on this, he stated that, the best approaches are rehabilitation and consolidation. Both methods are considered more economically viable options from a national standpoint, but consolidation is however the most favoured because of its effect on investors' confidence.
Most of the banks, The Guardian learnt, got into this mess owing to their large exposure to debts owed them, coupled with the new CBN directive on full disclosure.
But the debtors have seemingly kept the banks on tenterhooks, forcing them to categorise too many liabilities as bad debts that are being written off to cleanse the financial institutions' books.
Indeed, two companies and their directors have a debt overhang of $3.75 billion (N550 billion), with a further N280 billion representing the local currency component of their collective liabilities.
The Senate Committee on Public Accounts also expressed dismay yesterday after hearing that the Education Tax Fund (ETF) placed over N2.7 billion in bank deposits without respect for financial and investment ethics and regulations.
At a meeting with the ETF management and officials from the Auditor-General of the Federation, the Senate panel was informed that the ETF Executive Secretary, Mahmoud Yakubu had been queried for going ahead to place the funds.
The query was reportedly issued by the then Auditor-General of the Federation, Robert Ejenavi, in March, 2009.
A Lagos High Court has adjourned hearing in the suit filed by Access Bank Plc against African Petroleum (AP) seeking the winding up of the latter over non-payment of credit facilities, till July 27, 2009.
In the petition, Access Bank wants an order to wind up the giant oil marketing firm over a $35.15 million (N5.6 billion) trade debt, while AP is accusing the bank of erecting stumbling blocks on its repayment bid.
Counsel to the respondent, Mr. P. A Ajibade (SAN), at the resumed hearing of the matter yesterday, told the court of his preliminary objection dated July 21, 2009 to the petition by Access Bank Plc on June 25, 2009, which he said had been filed and served the petitioner on Tuesday.
He told the court, that since the petition for winding up a company was under the Companies and Allied Matters Act (CAMA), there was no need for a written address and thus, was ready to proceed on the matter as the case had brought discomfort to his client.
But counsel to the petitioner, Mr. Norrison Quakers, requested the respondent to file a written address on the matter in conformity of Order 183, of the 2009 Federal High Court' Rules, which he said should precede the CAMA rules.
However, Ajibade argued that Order 183 cited by the petitioner was not decisive but rather left the decision at the court's discretion.
After resolving the matter in favour of the respondent, the respondent further asked for an adjournment to enable him study the preliminary objection and the accompanying affidavit, was served on him at the close of work on Tuesday.
Justice Ibrahim Auta granted the request and adjourned the matter till July 27, 2009 for hearing without written addresses.
In the preliminary objection supported by a 26-paragraph affidavit, Mr. Emem Ekpeyong, a legal officer to the respondent's counsel and filed on Tuesday, AP asked the court to dismiss the petition in limine on the ground that the petition has not disclosed any grounds under the recognised heads for winding up a company under Companies and Allied Matters CAMA CAP C20, Laws of the Federation of Nigeria 2004.
Other grounds for objection were that the subject matter of the suit constitutes an abuse of the processes of the court as well as that the applicant lacks locus standi to file a winding up petition against the respondent.
Access Bank had through the petition and signed by Mr. Olisa Agbakoba (SAN), prayed the court to wind up AP.
The bank anchored its position on AP's alleged inability to repay the two year-old facility on the grounds that the company is "insolvent and unable to pay."
Specifically, the bank told the court that since its repeated demand for the repayment of the $35.15 debt, being the outstanding obligation on a letter of credit opened on July 18 last year in favour of AP, could not yield any positive result, the order seeking to wind up the company became inevitable

[url=http://www.ngrguardiannews.com/news/article01//indexn2_html?pdate=230709&ptitle=Re-consolidation%20looms,%20CBN%20seeks%20only%2015%20banks]The Guardian[/url]

Okemoni:
@ anonimi, to fulfill is to play your part in a contract or covenant.

you are embarking on another implicit distortion yet again by responding

play your part in a contract

Now consider the whole sentence in Matthew 5:17   

Think not that I am come to destroy the law, or the prophets: I am not come to destroy, but to fulfil

It may be useful to also take into consideration verse 18

For verily I say unto you, Till heaven and earth pass, one jot or one tittle shall in no wise pass from the law, till all be fulfilled.

babygurl19:
why dont u just paste the whole bible on nairaland.hissssssssss

here is a web site where you can do Bible searches either by passages (books, chapters & verses) or words and phrases.
Stay blessed.

Bible Search

minniepoe:
@Pastor AIO,

I am not calling G.O a liar but i dont buy into that. When i have a personal conviction that i have to pay a tenth of my gross salary monthly then i would do that.

I dont have to believe everything that comes out of the mouth of a pastor when i have my bible to consult.

may God Almighty bless you for your wholesome CHRISTian attitude of using the Bible as your compass to navigate the oftimes treacherous terrain laid out by pastors and brethren.

Another round of failed banks looming very soon? Leading to closed factories, failed small & medium scale enterprises due to lack of bank credit then more unemployment = increased armed robberies & kidnappings even of the big men and their relations & friends.
===================================
Banks groan under N1.25tr loans to 'big five'

CBN may opt for full disclosure soon
By Ade Ogidan (Business Editor) and Taiwo Hassan

AN air of discomfort enveloped Nigeria's banking industry following disclosures that about five companies and their directors have literarily compromised funds of shareholders and customers of the financial institutions.
Already, the Central Bank of Nigeria (CBN) has opted for a full disclosure strategy to stem the tide of anxiety faced by the lending banks.
As at yesterday, over N1.25 trillion was being owed the banks by the high profile individuals and their companies, with a significant percentage of the debt stock in foreign currencies.
But the debtors have seemingly kept the banks on tenterhooks, forcing them to categorise the liabilities as bad debts that are being written off to cleanse the financial institutions' books.
Indeed, two of the companies and their directors have a debt overhang of $3.75 billion (N550 billion), with a further N280 billion representing the local currency component of their collective liabilities.
Another well-known group of companies, with an equally visible entrepreneur as its majority stakeholder, is allegedly owing $400 million (N58 billion).
Although some of the alleged debtors have denied that they owe the banks, hopes of the affected institutions to recover the loans are fading.
A survey by The Guardian indicated that objectives for which the loans were collected remained largely unachieved, with some of the banks strategising on how to present acceptable financials to their respective shareholders.
Some of the financial institutions, reeling under the pangs of the high bad debt stocks, have even been postponing dates of shareholders' meetings, while about two have decided to hold the mandatory forum in locations far away from Lagos, to prevent attendance by critical stakeholders.
Already, three banks have written off over N76 billion in loans, thereby assailing profitability and dividend payouts.
The CBN is flooded with petitions from some of the banks, over difficulties in debt recovery, especially from the major five debtors.
Some analysts, who spoke to The Guardian yesterday, expressed optimism that the banks could eventually recover some of the debts, going by the CBN's current disposition, which favours full disclosure of transactions.
A former Managing Director of one of the defunct banks said in Lagos yesterday that chieftains of the financial institutions should discard alleged blackmails from the debtors and expose them in the interest of their respective shareholders and customers.
"The recent exposure of directors of failed banks and their debts was a step in the right direction. From the feelers I am getting from the banks, many of them are mere hollow shells as these big five debtors have literarily crippled them," he said.
The full disclosure option appeared to have got the CBN's nod. Recently, it sent a circular to all banks, demanding that they "submit to the acting Director of Banking Supervision details of their total exposures to the companies in the energy sector, namely upstream, downstream and oil service companies, as at May 31, 2009."
CBN's governor, Lamido Sanusi, in his first official speech on assumption of office on July 7, 2009 said: "The CBN surveillance activities will receive new impetus to ensure efficient management and good corporate governance."
In stating the Central Bank's view that the Nigerian banking sector does not face a systemic risk, he said "our view is that there are stress points in banks' balance sheets (margin loans, proprietary positions, oil marketing names, unsecured large exposures) and these are being dimensioned."
The on-going court case involving Access Bank Plc and AP Plc has thrown up one such "stress points," and stakeholders await today's judgment, which coincides with AP's yearly general meeting.
Specifically, the two companies were at each other's neck over, which would be responsible for the shortfall of the exchange rate of Naira against the dollar.
According to Access Bank, AP has refused to pay the $35.1 million loan facility it granted it to import PMS into the country last year July.
The bank claimed that it entered into an agreement with the oil company in a transaction deal with the option that AP agreed to pay the loan within one year, but the company refused to honour the contract due to the shortfall of the dollar at the international market.
The bank said on July 18, 2008 it granted a letter of credit in form of a trade finance line to AP to facilitate the importation of petroleum products into the country, but the bank was stunned to hear that AP declined to fulfil the obligation, stating that it would not pay the difference in the dollar rate.
While reacting to this allegation in an interview with The Guardian in Lagos yesterday, the Chief Operating Officer of AP, Mr. Tunde Falasinnu, said that Access Bank's position against the oil company was in contrast to the agreement the two parties entered, relating to the importation of the petroleum products deal.
According to Falasinnu, AP has never in any way declined to pay the $35.1 million for the cargo that brought the petroleum products into the country, but what the bank was asking them to pay was not in line with the nation's official rate.
He said that the bank is one of the bankers that the oil company transacts business with, but relating to the specified oil contract, Access Bank was compelling the oil firm to pay the $35.1 million at $127 per dollar when the exchange rate as at when the oil business deal was transacted was $116.
Falasinnu explained that after series of meetings with the management of the bank over the matter to show understanding and the implication of the exchange rate, the bank decided that it would take a legal action against AP.
He, however, stated that in order not to go against the laws of the country and the wrath of CBN, the oil company decided to wait for the outcome of an investigation by CBN.
He went on: "Access Bank is a banker to AP Plc, one of our bankers, and we do transactions with them. On the 25th of July 2008 to be precised, they granted us a Letter of Credit for a cargo of PMS which worth $35.1 million.
"This, according to the transaction terms and regulation, was to be reopened after one year, which was opened as form M, and the form M was duly submitted to the CBN pending the time the exchange rate AP would pay to Access Bank when the obligation crystallises.
"As at the time the obligation crystallised, they debited us with N127 per litre of PMS that was N127.00 to a dollar. And as at that time, the official exchange rate was N116.82. So, when this letter came, we wrote a letter immediately, we protested that the rate they used was not the official rate and it was not acceptable except they want to tell us they have used the black market rate, even black market rate was lower as at then.
"Since that period, we have been exchanging letters between each other. In fact, I can tell you that I have exchanged more than 10 different letters within us. They were insisting that the rate they used for us was the correct rate as at that time. And now even as at today, or as at the time we were talking, the exchange rate has not gone beyond N127 they were claiming."
But Access Bank, in a statement yesterday, said the offer letter to AP stated that the "facility is subject to possible exchange rate risk and this risk remains the primary obligation of the customer and that there is no obligation on the part of the bank to provide the customer with funds (either in local or foreign currency) to repay any exposure from the utilisation of the facility."
Indeed, according to information, Access Bank offered AP the chance to cut its losses on the facility in dispute when the exchange rate started fluctuating and naira was falling fast, and offer which AP reportedly rejected.

[url=http://www.ngrguardiannews.com/news/article01//indexn2_html?pdate=220709&ptitle=Banks%20groan%20under%20N1.25tr%20loans%20to%20'big%20five']The Guardian[/url]

hubreality:
Yes I tithe willingly based on my personal convictions of God's word by His Spirit.

Will you mind saying how much (%) of your income that you tithe and how often? Thanks.

Okemoni:
it is actually in matthew 5:17-19.@ the Lord coming to fulfil and nt to break the law.
if the Lord came to break the law, we would nt still be using the 10 commandments.

Thank you for giving the right quote rather than the earlier misleading "further affirm it" you used.
NOW, what does it mean to fulfil something e.g. a contract, a convenant etc

Okemoni:
Chukwudi, the Lord said he did nt come to break the law, but to further affirm it. if wht you are saying is right are we then nt supposed to follow the ten commandments, because if we are to go by that then we do nt follow the ten commandments anymore by what you r sayin.

Will you be kind enough to refer us to the Bible text/passage you quoted above in teh bold part.
Thank you in advance.