₦airaland Forum

Kobojunkie:
Tribal/religious wars/riots are not revolutions.

Kobojunkie:
Question for you. Why will heads roll? I mean if it is true revolution, why would heads need to roll?

ifyalways:
I beg to differ,Aloy does not type or speak Good igbo.

kayality:
To all of you , esp n_delta,naijaking1 and jeezy8
This man has make it, don't criticism him ok, you guys should focus toward your future, so that you can make yours too, people are there making money and names, u are guys are in Nairaland debating on non concern issue, please try and make yours because this man (SARAKI) has made it both money and name in Nigeria generally try and make yours ok

MY GUY POVERTY NO GOOD OOOOO,

IFELEKE:
Now that is what we all need to get rid of.
asha,
do you think this country can move forward if you and i refuse to come out of our tribal shell? of our ethnic confort zone?

Kobojunkie:
Your reality is RACISM is the order of the day? How far has that gotten us? We have been playing the RACISM is the order of the day since 1966 and look where we are over 40 years later. Considering the rest of the world has been able to, in the same time,significantly change their perception and reality as result, what good has your proclaimed reality, and resistance of change, done for you and your people? Let alone your race as a whole?

Why does it seem that it is only with Africans you find minds too obstinate and resistant to change, even when it is clear it is for their best?

Kobojunkie:
What history? Please, can we loose the sentimental BULLCRAP and focus on facts for once in our lives? Nigeria has NEVER had GENUINE revolution. What it has had has been ethnic violence, and religious BS instigated mostly by people looking to get for themselves more control at the end of the day.

If Nigeria were finally ready for a revolution, ethnicity would be locked off somewhere for it to succeed. Ever wonder why the rich seem to be getting richer and the poor getting poorer? Because the rich have come to understand that in order to keep the poor in their place. All they seem to hav to do is throw the ETHNICITY/RELIGION BONE to the poor, every time they try to get out of order, and the poor take the bait like 99% of the time. How else do you think a country with over 140 million fairly educated people would be slaves to less than a million thieves and corrupt buffoons? You have RACISTS masquerading as freedom fighters and people swallowing it up without realizing this is another specialized brand of the same old.

Keep biting down on that bone, I just hope it has marrow enough for your soul to continue to be content with!

bawomolo:
why?

How James Ibori bankrupted InterContinental and Oceanic banks
Written by Sahara Reporters, New York
Monday, 17 August 2009 13:23



New revelations have come to light indicating that James Ibori, the notorious former governor of Delta State who has been indicted for corruption, is behind the near-collapse of two banks -- Oceanic and InterContinetal banks - whose managements were dissolved last week by the Central bank of Nigeria (CBN). Ibori is Nigeria's most powerful political operative, who has now emerged also as its biggest economic menace.


According to sources at the Central Bank of Nigeria, he is owing InterContinental bank N40 billion. The debt, which Ibori secured through his buy-over of Willbros Nigeria Limited, led the bank to fail substantially, leading to the CBN removal of its CEO, Erasus Akingbola.

The Ibori saga in the banking sector is threatening Lamido Sanusi's bank reforms, according to reliable sources. Ibori, Saharareporters learnt, has reached out to his friend and partner -in-crime, federal Attorney-General, Michael Aondoakaa, to get a court injunction indefinitely restraining the CBN from further auditing the banks. The source also disclosed that Mrs. Cecilia Ibru is also working on a similar lawsuit in a desperate effort to regain her management of Oceanic bank.

Ibori borrowed $200 million dollars from InterContinental bank to finance the take-over of oil services company Wilbross Nigeria Limited from Willbros Group Inc. That followed its closure of its Nigerian operations in 2007, after the US justice department fined it heavily over a $6 million bribery scandal which implicated Willbros officials as well as a sleuth of Nigerian politicians. Ibori bought over the 46-year old company using Ascot offshore Nigeria Limited, a front company run by his pal, Henry Imashekka and former classmate, Joe Obue (at whose wedding in Washington DC, Ibori met his only son's mother, Uju Ononiba). As collateral, Ibori placed Delta State Celtel shares with the bank, but InterContinental was badly exposed when the Delta State government reportedly cashed out on substantial part of the shares from the bank when they became cash-strapped. InterContinental went to court and obtained a receivership of Willbros, but Ibori prevailed on former CBN governor, Charles Soludo ,to provide InterContinental bank with soft loans to cover up the exposure.Ibori, Uju and Joe Obu[/b]e


[b]Our sources said, Ibori had promised Mr. Akingbola that he will prevail on Yar'adua to stop Sanusi from sacking InterContinetal bank management last week, but Sanusi acted faster than he'd expected.

Ibori also took close to $200 million loans from Oceanic bank PLC to finance the take over of Nigeria's premier fertilizer company-National Fertilizer Company of Nigeria (NAFCON), using O-secul Nig. Ltd., a company owned by Mike Orugbo with an unsecured loan which is now run as NOTORE chemicals by Ibori's frontman, Najite Okoloko. Ibori recently bought a jet using Notore Chemical as a front. That loan is also a non-performing loan that constitutes a huge hole in Oceanic bank's bad assets, but our source said Yar'Adua has already given Ibori's Notore huge fertilizers contracts to take care of his non-performing loans at Oceanic.

Ibori cut short a family vacation and abruptly returned from South Africa last week to confront the CBN governor. "Ibori is fully working with Aondoakkaa and Cecilia Ibru to stop Sanusi at all cost in the next few days," a source told Saharareporters in Abuja.

http://www.saharareporters.com/index.php?option=com_content&view=article&id=3488:how-james-ibori-bankrupted-intercontinental-and-oceanic-banks&catid=1:latest-news&Itemid=18

4 Play:
Since when did Nigerian women start making noise during sex? Is it the same Naija women who are famous for making their male partners feel like necrophiliacs with their astonishing re-enactment of corpse like qualities during sex?

I'm sure it's more a case of the woman having a general dislike of the presence of the brother.

Jakumo:
Gblaze I am elated to encounter another person who realizes the historic importance of Big Daddy Goat's prayer-powered automobile. Big Goat Adejale's PrayerMobile ranks right up there with Henry Ford's production of the first working passenger car, and with the Wright Brother's invention of the world's first airplane.

Thanks to His astonishing creation of the fuel-less PrayerMobile, Pastor Eunuch Adejale Adebole's name will soon be mentioned in the same breath as the likes of Albert Einstein, Mozart, Michaelangelo and Enzo Ferrari. All truly patriotic Nigerians deserve to BASK in the reflected glory of knowing that one of their own has earned such global acclaim. Adejale's list of awards will only begin with a long-overdue Nobel Prize for Automotive Science, while His wealth will accrue exponentially as patents for PrayerMobile technology are auctioned to frenzied buyers from the West.

haywhy:
May the lord help the Nigerians at home to understand that traveling abroad is not the solution to all problems, AMEN

Beaf:
If only it were that simple. There is widespread support for MEND in the Niger Delta. Aside from that, indescriminate carpet bombing the ND will not win many friends nor will it uproot millitants from the creeks. To further compound this, we aren't talking about localised action like the Odi massacre; it will be action spread across at least 4 ND states; isn't that civil war?

ThiefOfHearts:
why Tura

ThiefOfHearts:
And what is wrong with that

and No Ekiti man is that foolish. Abeg

ThiefOfHearts:
The brother has no sense

shadyBaba:
what a man can do, a woman has got to to a lot more to match up. the thing is our female artists, not only in rap but especially in R and B are not really motivational or even (no offence) inteligent enough. all i see is a singer showing off their B**bs and stuff in videos but that's not what we want. so if a lady wants to match up with the men, then she's got to bring something as special as ASA's work to be considered a "Real Deal". most of our MC's (female) are eithe jacking rhymes or trying to sound janded and that ain't working for now. 'nuff said.

nex:
What really people should ask themselves is why the CIA is so interested in instigating Nigerians to break up. Could it be that if Nigeria remains together till 2015 we could become a regional competitor to them just like India and China?
In the 1980s it was the same USA that instigated India to go to war with China because China had concluded plans to colonize India. Well, the Indian government took the documents and cremated them. Did China invade India? No. Have China and India started competing with India for resources and markets all over the world today? Yes. Have China and India become more powerful? Yes. Are they rapidly moving to take over the position of the USA? Yes.

Now let's go to some stupid African people called the Eritreans.

Then, Ethiopia was the most powerful country in Africa. They challenged other continents for the rights of African Nations, they repelled colonization, they caused brain drain in other continents by attracting specialists from all over the world. They gave Africans all over the world hope and pride and belief in themselves.

So the CIA came to instigate war and disintegration. They called on different tribes to break up and provided support at the level of the United Nations for self determination. Finally, Eritrea broke off taking the entire coast of Ethiopia and making it landlocked. After decades of war and killings, are the Eritreans doing better today or worse? Are the Ethiopians doing better or worse? From first position in Africa, where are the both of them in the world stage today?


Third example is the state of Rhode Island in the USA which has been crying against marginalization and has been calling for separation from the Union for decades. The USA that supports self determination, why haven't they supported Rhode Island to leave their Union after all these years? Is the USA with Rhode Island in it not the number 1 country in the world today?

So you have to wonder. You really have to think what their plan is.

The Nigerian gangsters are bloodthirsty, dishonest thugs, which is not a big deal- they’re gangsters, I get it. They see the aliens as mere cockroaches with money, so they don’t treat them well, and that makes perfect sense. They’re just cruel, self-interested mercenaries, and in this, they’re no worse than the film’s (mostly white) government officials, who cold-bloodedly torture and murder the aliens. So far no racism, just characters with motivations.

But!

The Nigerians have a wailing “witch doctor”. Who instructs them to eat the aliens. And they do it. Bloody, wriggling, and raw, of course.

We’re told that the black prostitutes “service” the aliens sexually. ARE YOU EFFING KIDDING ME??!

And when Wikus’ arm grows a claw, the Nigerian gang boss starts licking his chops, eager to commit cannibalism.

Yup, that’s Hollywood’s Africa, isn’t it. Black Africans shown as degenerate savages who’ll have sex with non-humans and are pretty damn eager to eat people.

dayokanu:
Wetin concern Daddy GOat. Since recession don come and tithes are not forthcoming again Pastor Eunuch AdeJALE has decided to bring out a new format

MAGA must fall at all cost,. 40-40 club

nex:
The CIA has put it in your brain that in 2015 your country will disintegrate and you've decided to work tooth and nail towards it.


It's like all somebody whose enemy convinces that he has HIV with 2 years to live, then the person goes to commit suicide even without first going for an HIV test.


Gullible ignoramuses.

MrCrackles:
Ya'R'Dunce is good at issuing directives and giving orders. . .
Muppet and inept President

Go after bank loan defaulters, Yar’Adua tells security agents
Cover Stories Aug 17, 2009 By Daniel Idonor & Michael Eboh
ABUJA— PRESIDENT Umaru Yar’Adua, yesterday, ordered security agents to move against those who took non-servicing huge loans from the five banks, which received the Central Bank of Nigeria, CBN hammer Friday, with the sacking of their Chief Executive Officers, CEOs.

Meanwhile the Nigerian Stock Exchange (NSE) will today, Monday, place the shares of Intercontinental Bank Plc, Oceanic Bank Plc, Afribank Nigeria Plc, FinBank Plc and Union Bank Nigeria Plc on technical suspension.


Briefing State House Correspondents in Abuja, Presidential Spokesman, Mr Olusegun Adeniyi, said that the security agents were drafted in immediately to restore the hope of the customers of the affected banks and many other ailing ones yet to be identified.

President Umaru Yar’Adua and IG Onovo
He said that Yar’Adua had also affirmed that his government would remain committed to genuine efforts by the new leadership of the apex bank to put a final stop to the sharp practices by few people which led to the non- servicing of the huge loans.

According to him,“along with stricter supervision and regulation by the CBN, the administration will continue to do whatever is necessary to guarantee the safety of deposits in Nigerian banks and entrench best corporate practices and better credit administration processes in the management of banks.

“The President has directed all law enforcement agencies to give their fullest support to efforts by the new teams of the five banks which have received bail-out funds from the CBN to recover the huge loans, the non-servicing of which placed the banks at risk of distress.”

New Dep. Gov appointed
To ensure that the hitherto lucrative business of loan-taking without servicing in the banking sector is made less attractive, through stricter monitoring, supervision and regulation by the apex bank, President Yar’Adua has nominated Dr. Kingsley Chiedu Moghalu for confirmation by the Senate as the Deputy Governor of the CBN.

“To strengthen the Apex bank further for the effective and efficient performance of its supervisory and regulatory functions, President Yar’Adua has nominated Dr. Kingsley Chiedu Moghalu for confirmation by the Senate as a Deputy Governor of the CBN”.

He stated: “The “President Umaru Musa Yar’Adua fully endorses the measures announced by the Central Bank of Nigeria (CBN) at the weekend to sanitize Nigeria’s banking sector and prevent fresh bank failures with their attendant negative effects on the national economy.”

According to him, president Yar’Adua has also “assured all Nigerians that their deposits in Nigerian banks are safe as the Federal Government will continue to act in concert with the CBN to ensure that no bank is allowed to fail or become distressed.”

While observing that there is no cause for alarm over recent developments in the banking sector, Adeniyi stated that “the over N400 billion already injected into the five affected banks to ensure their continued viability affirms the Yar’Adua Administration’s commitment to taking all necessary actions to ensure the stability and well-being of the country’s financial sector.”

Moghalu, 46, according to Adeniyi, who holds a doctorate degree from the London School of Economics and has many years of experience in corporate governance, risk management and strategy, will expectedly complement the collective strength of the CBN board and management.

He added that “the President has also approved the appointment of two additional members on the Board of the CBN.

They are Mr. Stephen Oronsaye and Mr. Nebolisa Arah. Oronsaye who is currently the Head of the Civil Service of the Federation is to serve on the CBN board in his personal capacity and is to replace Prof. Akpan H. Ekpo (South-South Zone), while Arah who was the pioneer Managing Director of Fidelity Bank is to replace Mrs. Juliet Madubueze (South_East Zone).”

He explained that “the appointments of Mr. Samuel Olofin, Dahiru Muhammad and Joshua O. Omuya to the CBN board have also been renewed by the President. All the board appointments are subject to confirmation by the Senate.”

“In further action to enhance the effectiveness of the CBN as an institution, President Yar’Adua has also approved the nomination of Dr. Adedoyin Salami, Mr. John Oshilaja, Prof. Chibuike Ugochukwu Uche, Dr. Shehu Yahaya and Mr. Abdul-Ganiyu Garba for confirmation by the Senate as members of the Bank’s Monetary Policy Committee,” he stressed.

The Governor of the CBN, Mallam Sanusi Lamido Sanusi, had last Friday sacked the Chief Executive Officers, CEOs and Managing Directors, and the management teams of five banks including Oceanic Bank Plc, Afribank Plc, Intercontinental Bank Plc, Finbank Plc and the Union Bank Plc.

The sack notice, according to the CBN boss, was in line with the apex bank’s Act, which prescribes such penalty for banks CEOs who indulge in sharp practices such as loaning huge sums of money to customers of questionable characters who lack the needed financial management skills to service such borrowings.

Nigerians were recently told that about 50 highly influential Nigerians are owing banks about N2 trillion, which spurred the apex bank to probe the transactions of all banks.

Shares of troubled banks on technical suspension
According to a statement by Mr. Sola Oni, Spokesperson for the NSE, the action is to protect investors of these banks from erosion of their capital and to help safeguard their investments in the bank and the capital market in general.
Speaking on the condition of anonymity, the Managing Director of a stock-broking firm, who first hinted Vanguard of the suspension, noted that if the shares were not placed on technical suspension, investors would want to dump the shares of these banks, thereby, causing their prices to fall rapidly.

He noted that this is the practice in the NSE and advanced capital markets worldwide, noting that protection of investors’ interest, will further help in promoting confidence in the capital market.

As at Friday, August 14, 2009, the shares of Afribank Nigeria Plc stood at N5.22 per share and it recorded a transaction of 4.45 million shares, FinBank Plc’s share price stood at N1.55 per share and it recorded the exchange of 0.82 million shares, Intercontinental Bank Plc traded 1.49 million shares at N6.93 per share, Oceanic Bank International Plc’s share price stood at N4.94 per share and it recorded a turnover of 12.5 million shares, while Union Bank Nigeria Plc’s share price stood at N12.60 per share and it recorded a turnover of 10.74 million shares.

http://www.vanguardngr.com/2009/08/17/go-after-bank-loan-defaulters-yaradua-tells-security-agents/