₦airaland Forum

Ooo girl, i love the way u move your body, brekete-OJB

Everyting around you is segememde-KC

wiskolowiska-DURELLA

ji ah tokoko omoge oya wa ji a tongolo-D'BANJ

MY HEAD, MY TOE DEY GO, pasa pasa lakuku lala-MP

my rhymes come from the streets,i place them all on beats-2shotz

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asha80, right from the begining of time human beings have always being migrating. Even Adam and Eve were sent to exile and they never return. Jesus went to exile when he return they crucify him. Moses went to exile and he never reaches the promise land.

hhhaha hmmm no cause for alarm, cuz is there is anything to investigate, u had your obj on hard talks sayin some of the people on his government were corrupt

still as a mr president, what did he do

People dont just decide to build power plants and build them. Power plants are huge capital projects. Dont you know the type of business men we have in Nigeria. Only few are genuine. The rest are fake opportunist who want to buy oil blocks, or get licence to import oil. During the OBJ time, he gave 12 licence for independent operators, but no one built a power plant apart from AGIP. They gave 8 licences for refineries, no one built any refinery, but they got concession for oil blocks. The private sector in Nigeria are a joke. Only few are real business men.

I said my problem with him, by coming out in the media and even on the floor of the Senate to say that our economy is immune from the crises. While we have never been out of economic crises. It just myopic to me and he under perform as CBN governor

I am totally in favour of privatisation especially in Nigeria. Government has shown since independence that she cannot run any industry in Nigeria. Schools, NEPA, NITEL, Refineries are all major examples for us to see. I dare say that Soludo or whoever suggested privatisation is right!

Let private individuals run them, let them make profit from them. We all witnessed the revolution in the telecomms industry, let's see it happen in power too. The IPP projects are not working now because we are making the same mistakes ie allowing state governments to build them! Govt as we know it in Nigeria is 'come and chop'! What they should do is regionalise each local government or let private companies choose a a street or combination of streets depending on how much power they can generate and generate electricity for them. Let people within that area then decide if they want to hook up with NEPA (which can still be run by Government if they like) or the private coy. Over the years, we will have loads of private coys all over the federation. The market is there and companies are willing and ready to take adantage. We just need government to be sincere

U cant power industries without electricity. But the economic policies are the one that create power plants.
Before Obasanjo came in as a Head of state, the country was generating an average of about 3000MW of electricty. However, this idea of privitisation that Soludo learnt in his text books in schools, he forced them into OBJs head. OBJ was a nationalist when he was a head of state and he didnt have any economic idea a part from the one fed him by his advisers. And Soludu sold the idea of privitize everything.

The whole OBJ government was based on a document called NEEDs I and NEEDs II. Get hold of the document and read it, and you will be disappointed with Soludu. In the document, they stated that there cannot be sustainable power generation if NEPA is not privitized. And that was why the government wasted 4 years trying to privitized NEPA but no one was willing to buy it.  Towards the end of their tenure they came up with the IPP, which was largely a propaganda. They went ahead to fund LNG projects, to export all the gas, rather that used it for domestic purpose.

Well, Nigeria and Nigerians will always look at things from their tribal mind. The CBN Governor have tried his own best in doing some good work by forcing those banks to consolidate. And it is good for the economy. No matter what people will, and he get my support for that.

However, from my own perspective, Soludo is Governor in the Era of prosperity. He could hardly use his intellects to for see problems and challenges.

My problem with him is when he came out categorically beating his chest in all the media, that Nigerian economy is immune from the global economic crises. When every rational person knows that when the western world, who happen to be the buyers of our oil are in econimic crises, oil prices slides down.

He completely misguided Obasanjo to deindustrialize the country in the name of privatization when he was his Economic Adviser, now we can see what countries with economic problems do. Government intervens not throw away to incompetent people. I think he has out live his usefullness.

If there is anybody to blame in our current economic crises, it is him. He has been managing the economy for the past 10 years, he focused towards financial institutions rather than industries

How The Big Lenders Crashed The Stock Exchange And Were Enabled By Dr. Soludo
Written by Abdulmumuni Yinka Ajia
Sunday, 05 April 2009
How the Big Lenders Crashed the Stock Exchange and were Enabled by Dr. Soludo

Abdulmumuni Yinka Ajia


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Janice Kew and Michael Patterson over at bloomberg.com recently did a story on the Nigerian stock exchange and how bank losses have had a profound impact on the exchange. According to the duo, bankers (otherwise known as lenders) may be holding as much as $10 billion in toxic assets which is estimated to be almost equal to half of the entire capital of the exchange. [See Story]

Now if you take into account that the lenders make up about two thirds of the Nigerian stock market, you will agree with me that as a regulator, Professor Soludo has not done a good job overseeing the banks and ensuring financial discipline. The state of the Nigerian bank is very precarious because of it.

Before I go into the disaster that is going on within the banking sector, let us first take a look at some of the reasons why the Nigerian stock exchange has moved from one of the best performing market to one of the world’s worst barely less than a decade! Perhaps, there are many reasons that led to the collapse of the exchange, I will focus on five critical areas.

Speculation: I know, most markets are speculative in nature but what was going on in Nigeria prior to 2008 was of the worst kind. A friend of mine who works in middle management for one of the so called big banks confessed to me sometime in 2007 that the insider joke is that the Nigerian stock exchange has broken all rules. What he wasn’t saying was that while this speculation was going on, the major lenders were not creating any real value within the economy which can ultimately boost the Naira and save the exchange from itself. This was a period, when the big lenders were just floating ridiculous IPOs, give it massive publicity and have unsuspecting Nigerians buy into their voodoo companies. Barely ten years ago, most of these new big banks were not even in existence. Today, they are unraveling. Posting bogus profits and fuzzy book keeping. Now lets examine the next reason why the exchange floundered terribly as it did.
Insider trading: the trading of a stock or other securities by individuals with potential access to non public information about the company. This is not only going on, the Securities and Exchange Commission has not been alive to its responsibilities. It has also been suggested that SEC employees may be conniving with some of these traders while the public bears the pains of the loss in value. Most of these insiders have continued to dump their stocks using non public information at their disposal.
Bogus balance sheets: here you will find the legally backed margin loans that allowed banks to delay booking losses. This lack of full disclosure has left investors unable to identify potential losses. In some cases, there have been rumours of outright falsified balance sheets to deceive the public. The Nigerian media have been (with the exception of a few outlets) enablers, they publish these false reports and do not engage in any investigative follow up to ascertain the health of these institutions. To round it up, these lenders are into free wheeling and shaky securities. All of these activities have put investor’s funds at risk. The last time I read, the pension fund is threatened. This is perhaps, the only retirement instrument most Nigerian civil servants have. How do you explain to a 65 year old man or woman that you have gambled away their fortune?
Now let us take a look at the disease within the Nigerian banking sector. And while we are at it, let’s examine the activities of the bureau de change.

Sometime in March, specifically March 21, Soludo arbitrarily curbed the lending rate at 22% and the deposit rate at 15% respectively. But you and I know that this is not going to happen. What will eventually happen will be a form of shadow banking, sadly it is already being practiced in Nigeria and this will only exacerbate it.

Presently, Nigeria has a law that requires the banks to notify some security agency or the other if a cash lump sum is being deposited at once. What the banks actually does is to have the customer deposit all the amounts in bits, in order to evade this legal provision.

This arbitrary lending and deposit cap will only give rise to one thing, back room dealing between the customer and the bank. You think that our banks are in a bad shape right now, that will push them to the precipice.

Then you have the bureau de change. I still don’t understand why the CBN has its own exchange rate and then you have the real market, where 80% of the foreign exchange transactions occur and the price is sharply different. Presently, there is about a N20 difference in the rate between the CBN and the parallel market. If you think N20 is insignificant, wait until you buy 1 million dollars @ N144 to a dollar from the CBN and take a walk down the street to the bureau de change and sell in the parallel market for N165 to a dollar. Tell me, what kind of business will give you so much instant return and at a very high percentage profit? So this is what is at stake. Why wouldn’t Soludo abolish the official rate and allow the banks to sell foreign exchange to anyone (with identification) at the market rate? The CBN should also be able to sell to the banks at the prevailing market rate minus one Naira (leaving a margin for profit). Soludo has refused to tow this line. Why? Because the status quo is beneficial to all of them (players within the Nigerian financial industry) you buy cheap from the CBN, you cross the street and sell high and you go to the bank smiling. In the process, you haven’t really created any value to the economy. While these financial tricksters line their pockets, the Nigerian economy and the general public bears the brunt of their nefarious ways.

And we also have cases, where lenders have written out huge loans without any significant collateral. It is risky behaviour and ultimately we are witnessing the unraveling albeit in a sad way. These kinds of behaviours have put genuine investor’s life savings in a toilet.

I am not going to even dabble into the activities of the illegal micro finance institutions that mushroomed between 2006 and 2007. Where was Soludo when all these illegal activities were going on? Nigerians lost millions of Naira to this fraud, the CBN responded a little too late.

This kind of behaviour is emblematic of the kind of leadership that Soludo has provided at his perch as Nigeria’s treasury chief. You can not be a regulator and at the same time parleying around with the same people you are supposed to regulate. Rather than consider him for a reappointment, Soludo should be allowed to go back into the ivory tower to finesse his economic theory (I would suggest to him to decide whether he wants to be a free trader or not), perhaps some day in the not too distant future, he can become the conscience of the nation like prize wining economist and Nobel Laurent Paul Krugman.

And while we are shopping for a new treasury chief, one name stands shoulder above the rest; Dr Ngozi Okonjo Iweala. The talk of Isa Yuguda is not only petty but absurd.

Post Script: I am aware that Professor Soludo is not the Chairman of the Securities and Exchange Commission, however it is instructive to note that because of weak treasury regulation, the banks are the worst offenders in the exchange. The lenders are supposed to be under Dr. Soludo’s supervision and if they had acted ethically at the exchange we could have been spared this ugly scenario. And yes, while the failure of the exchange will be laid at the door step of the SEC chairman, the banks attitude is as a result of a weak central bank regulation.



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http://www.nigeriavillagesquare.com/index.php/content/view/11943/55

Soludo: Decision Time For Yar’adua     
Written by Garba Deen Muhammad   
Sunday, 05 April 2009
Soludo: Decision time for Yar’adua

by Garba Deen Muhammad


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A rumour passed through Abuja last week that come next Tuesday, the Federal Government would take a decision on whether to renew the tenure of CBN Governor Charles Soludo, or to sack him and hand him over to the EFCC (my expectation). Soludo lives an obscenely opulent life at public expense while the ‘super banks’ he created and the stock market value he helped to conjure up live on life support; the article below which was first published on this page in August last year is reprinted as a ‘tribute’ or epitaph to the damage Soludo has done to our economy in the last eight years. If his tenure is renewed, the FG should know that it is not with the support of millions of us. We don’t trust him.

Give him half the chance and he would try to convince you that whatever your troubles, he worries about them more than you do. At every opportunity, Professor Charles Soludo, Governor of the Central Bank of Nigeria (CBN) wastes no time in telling the world how deeply concerned he is over the debilitating problem of poverty in northern Nigeria. And yet in the past eight years, from the time he was economic Adviser to former president Obasanjo to date, nobody has done more to aggravate this problem than he had. His most recent offensive was a recruitment exercise into the CBN conducted between June 2007 and June this year. In all Soludo had recruited 396 people; an incredible 340 of them from the South!

Squatting on this hill of hypocrisy and injustice, the man was at his sarcastic best again last weekend in Kaduna where he was a speaker at a lecture event organized by the Northern Development Initiative. Last year Soludo characterized poverty as a Northern Phenomenon”; last week he called for a state of emergency to be declared on poverty in the north.

The CBN boss was correct on both occasions. It is also obvious that Soludo relishes the opportunity to insult the north publicly; on its part, the North certainly deserves no sympathy and no one should deny Soludo the right to gorge himself; he is only echoing loudly the silent opinion of many Nigerians.

[b]Sometime in January this year, I came across an article written by the publisher of The Mirror newspaper, Prince Emeka Obasi who is from the same south eastern part of Nigeria with Soludo. The article titled “Yar’Adua And The Future Of The North”, which appeared in his back page column,’ The Presidency’ of the Sunday Mirror of 27/1, was well researched and the arguments forcefully presented. In the article Mr. Obasi provided a perspective on what he believed to be the essential elements that define the North.

Throughout the article the author struggled to find the right adjectives to describe the peculiar and depressing characteristics of the Northern part of Nigeria without sounding too offensive or condescending. Unfortunately, there just isn’t a polite way of telling a people that they have failed.

Drawing from statistics published by the National Poverty Alleviation Programme (NAPEP), Obasi correctly summed up the story of Northern Nigeria: it is the poorest and most backward part of Nigeria, and it is getting poorer and more backward! The NAPEP figures on the incidence of poverty in the six geo-political zones in the country as quoted by Prince Obasi speak for themselves. In the North-West, 74 percent of the people are poor, that is they live on less than one dollar a day; in the North-East the poverty rate is 78 percent; North Central, the figure is 70 percent.

By contrast the South-West has about 28 percent; the South-South 30 percent, while the South-East, from where Soludo (lucky him) comes from, turned out to be the wealthiest part Nigeria with a poverty rate of 23 percent.[/b]

Obasi did not add, because he didn’t need to add, having used the portrait of a wretched beggar and his son to illustrate his views, that in addition to its poverty or may be because of it the North also has the highest concentration of beggars, of all ages, than anywhere else in the world; it has the lowest literacy rate in and the lowest per capita, or income per head in the country. It has its fair share of moral depravity too; from Kaduna to Kano and Sokoto, cases of 60-year old men defiling 14-year-old girls are rampant; in some cases fathers have been known to impregnate their under-age daughters!

This is the brief, bleak summary of ‘Soludo’s North’ and our North. Can anything be worse than this? Perhaps if the statistics, on which part of the country produces the highest number of ruthless armed robbers, manufacturers of fake drugs, conmen or 419ners, were to be computed, there might be some kind of parallel: a contrast between one society intent on destroying itself, with another bent on destroying others. Neither is desirable of course and a combination of the two in any one country is an absolute disaster. As it is we have only one of verifiable statistics, so…

We all know on which side of the miserable divide Soludo belongs; and he knows it too. Also few people, if any, are in any doubt that given the chance Soludo would love the opportunity to transform the North from a region of beggars to a bastion of hopeless destitute. When he introduced his controversial banking reform, Soludo resolutely refused to modify it by introducing categorization; a situation whereby instead of a fixed N25bn for all banks, the requirement could be categorized to a base level of N10bn, a medium level of N15bn and Soludo’s fixed level of N25bn. With support from former President Obasanjo, Soludo got his way; the result is that the North, thanks in whole to the greed, narrow vision and naked wickedness of its leadership class, is now completely marginalized in the financial system.

Every time I hear Soludo expresses his hypocritical concern for the North, I feel like throwing up, if possible on his suit. The lopsided recruitments the man supervised in the last one year referred to above, did not come by accident; Soludo carefully, deliberately and cold bloodedly contrived to further emasculate the North that he so much ‘cares’ for.

For instance, since becoming the CBN governor in 2004, he had launched relentless assaults on senior staff of the CBN that are from the North. He it was that terrorized Mrs. W. Mshelia, a former very competent deputy governor out of the CBN, frustrated another deputy governor, Dr. Shamsudden Sanusi, the current minister of national planning, and sacked a number of directors most of whom were of northern origin. At the moment the deputy governor (corporate services); the special adviser personnel; director human resources; all five deputy directors in the human resources department and the consultants that are he hires to conduct recruitment exercises for the CBN are all from the South! One then wonders how a thoroughly unrestrained ethnic jingoist like Soludo could have the audacity of voicing concern for a people to whom he would not even be fair.

Neither is Soludo’s lack of fairness his only failings. Lately his integrity has come under question. It used to be a subject of speculation; now it is officially confirmed that Nigeria’s foremost banker is not straight, to put it mildly. A report published mainly by the sister publication of this newspaper, the Daily Trust, on July 23 and 25 say that the high-powered Presidential Committee that investigated the affairs of the Africa Finance Corporation (AFC) has unequivocally accused Soludo of “gross abuse of office, gross negligence, round tripping and money laundering”.

That is very interesting. Soludo might have succeeded in getting Obasanjo to arm-twist the last legislature to pass the CBN Act which not only gives him unlimited powers (which he is accused of abusing), but makes it virtually impossible for the president to sanction him; but the Act did not give the CBN Governor protection against abuse of office and money laundering. It is difficult to imagine how he can talk himself out of this one. Which is just as well, the CBN and the country can certainly do without the likes of Soludo.

And so would the North, in one sense. In another sense, the North would miss Soludo; because we do need ruthless opportunists like him to turn the knife in our wounds, to remind our so called leadership class, whoever and where ever they are, that it is not enough to just admit failure, as Gen. T. Y. Danjuma had done when he fell out with his erstwhile buddy, Obasanjo. They have to demonstrate that remorse through concrete actions. So far there is nothing to suggest that they have learned anything!

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http://www.nigeriavillagesquare.com/index.php/content/view/11935/55

I asked how many peeps "without degree level education are successful without doing fraud or drug activities".

A lot if you come back to nigeria and open your eyes.

well i think what sells abroad's not just talent which a lotta our artistes have but originality which a lotta our artistes lack.so this list contains the list of nigerian artistes who are original and therefore also talented(because they're nigerians.lol).modenine,m.i.,asa,tuface,9ice,dare,and of course our current "international champions" femi kuti and lagbaja the masked minstrel.

@ asha, I spose you being resident in Naija makes you best placed to answer this question.

How many folks without degree level education are successful without doing any fraud or drugs activities these days?

See, I'm wondering whether or not it's possible to get a job in Sales (for arguments sake) and manage to work your way up to senior management or directorship level? At least by then you'll be better equipped to go out on your own and start your own business.

Maybe my observations are naive, i dunno that's why I'm asking the question.

"Is it India, which is clearly the first in Information Communication Technology (ICT), in the whole world? Which of them really, if we are sincere to overtake, that will make us to be lamenting. It is not impossible that they sent us an invitation by e-mail and we did not have light to put our computers on and therefore did not see the invitation and after waiting for our reply, they sent it to another country."

South Africans vow to sack Christ Embassy… As authorities humiliate Chris Oyakhilome at airport http://www.huhuonline.com/news342.html


“As South Africans, we will not rest until Chris and his cohorts are out of our country. We have fought very hard to release this country from the clutches of apartheid not to have hoaxes like them come and rape our economic and social system.”

This was the touching expression of despair by a South African and a former member of Christ Embassy who now thinks that the church is one big hoax. There had been tales of stage-managed miracles at Christ Embassy but now a number of sources close to the church confided in huhuonline.com that some of the tales may be true after all. They narrated a number of incidents that has compelled them to doubt the authenticity of the Christ Embassy Church in South Africa .

Our source gave an instance of a lady that had been sitting on a wheel chair in the healing line, she had been sitting there for hours while waiting for the man of God to come and minister to her. When nature called, she forgot she was supposed to act paralyzed. And there she was standing and running to the toilet. Minutes after that, she received serious tongue-lashing from the Healing School pastors for the great embarrassment she caused. No one really understood this because she was not allowed to return to the wheel chair as people had seen her dash off to the toilet. Her empty wheel chair was wheeled out of the room.


Chris Oyakhilome
Another source recalled that a similar incident had transpired in the Healing School when another supposedly bed-ridden faithful was pushed to the toilet by a church member who had volunteered to help at the Healing School . On getting there with the helper, she stood by herself and went in. The helper screamed, rejoicing that a miracle had already taken place. She was shocked to see this patient also receiving serious reprimand for standing without aid.

Huhuonline.com also gathered that an old woman who ministers next to Pastor Chris , called Deaconess Pat, many refer to as mommy in South Africa, who lays hands on women on Chris’ behalf and instruction was said to have warned some South Africans not to bring their children nor give their money to the money making scheme. Her words were, “this is not a church”. She also made mention of the fact that her own children are in full time church ministry but none are in Christ Embassy. She was quoted as saying that she is only at Christ Embassy because it is a job for her.
There is an interesting sub-unit in the Christ Embassy Church called the ‘Haven’. It largely consists of select members that fund Chris Oyakhilome’s minisry in South Africa and beyond.

South Africans that belong to this group have suffered tremendously through the insane donations demanded from them by Christ Embassy . Many have had to take children out of schools to be able to keep up with the Christ Embassy demands . While South Africans are committing their hard-earned money to the Christ Embassy projects, their pastors are indulging in an unimaginable life of luxury.

Pastor Ken Oyakhilome drives a Lamborghini Murcielago, Austin Martin DB9, Porsche Cayenne, amongst his five expensive vehicles. All of this luxury life in Houston , Texas is funded by what is called the “American Initiative” .

Another fake, is one Olatunde Oyediran who claims that he lives for Chris Oyakhilome’s vision and ministry and that is where all his money goes, yet he drives a Toyota RunEx.

Meanwhile, Immorality is not a scarce commodity in Christ Embassy, South Africa . Tomisin Fashina, a Senior Pastor in the Sandton church, South Africa , is said to have children from different women in his congregation. Fashina is said to have taught his congregation that it was more evil to bring a fatherless child to the world than to abort. This has raised the suspicion that he may be impregnating women in his church and asking them to abort. His wife, Tolu Fashina, on the other hand is alleged to have embezzled the Healing School funds when she and one Taiwo Adenubi, a senior pastor in Pretoria , just outside Johannesburg had been given a construction contract by Dr. Diolla who is the head of the Healing school.

They were exposed by a worker who had taken his share of the loot, when they tried to blame it on him. Apparently, this guy, a Nigerian national confessed his own sins but said that he had learnt from the best, being Tolu and Taiwo.

In 2007, the Christ Embassy Randburg branch got a member called Funi Silinda, a business woman. She gave no less than R100,000, a month. On months like the American Initiative, she is recorded to have given approximately R600,000. She bought a lot of first class tickets for most of the Christ Embassy, Randburg leadership to attend international conferences in Nigeria . She also paid for many of them to be in good hotels .

For partnership like the Healing School , she gave about R30,000 a month . She built a computer centre in Randburg, furnished it with state-of-the-art computers and accessories. Funi paid for the Christ Embassy TBN contract. She was led to believe that it cost R100,000 a month .Yet she faithfully paid for a whole year.

It came as a shock to many when Funi announced that she was leaving Christ Embassy because she had run out of money. She said that all the donation she made in Christ Embassy were financed by business projects she received prior to coming to Christ Embassy.

It became obvious that Funi was tired of being used which is something she said in the end. The final straw was when she was told that she has been personally invited by Chris Oyakhilome to attend his birthday party on the 7th of December, 2007.

Tunde Oyediran started working on her, telling her of how she would need to compete with others at profligacy when she gets to the party as they habitually auction Pastor Chris’ suites for anything up to R1million .

That day, she realized that Christ Embassy was nothing but a 419 scam. It was then speculated that she cancelled the flight and went back to her home.

Then another fake, Dolapo Layode, who is often postured by the church as the highest giver and donor in the church came to South Africa in 2007 to share a very far-fetched testimony.

Dolapo told the meeting that two Angels came to her room asking to be dispatched. And she had told the angels to get her a license to lift oil in Nigeria . In two weeks time, she had not only gotten this license, but also a scholarship to London where she studies about the business she was about to embark on.

In less than a year, Dolapo was telling people that she has trucks with her names running around Nigeria transporting oil . She never mentioned planning to be in the transportation business as well.

That was when some people realized that Dolapo and her kind , in Christ Embassy were a grand part of the whole extortionary scam. No one can out-give them and it is meant to be that way. Dolapo shocked people even more when she said that when she prays for money, she finds it everywhere in the house, in her wardrobe and within clothes.

However, it appears, this grace for money or ability to mint money as it has been termed, only works for the Nigerian members of “the Haven” group.

South Africans are loved because they work and earn a lot of money and have easy access to credit according to one Pastor Efeoma, a former ‘Haven’ President.

In all these, many South Africans have had to use desperate measures to finance the deep pockets of Christ Embassy hoping to avoid being shunned.

They use credit cards, overdrafts, personal loans, second bonds, missed car and house payments to meet the church’s demands. As a result many are blacklisted by the credit bureau, their cars are repossessed while they are evicted or watch helplessly as their houses are auctioned.

In the ‘Haven’ group the only people who seem to have testimonies of being millionaires are Nigerians while South Africans face liquidation and other financial crisis.

It is no longer secret that the South African authorities are not leaving any stone unturned in its investigation to get to the root of the many outcries against the activities of Christ Embassy in South Africa . This was demonstrated about a month ago when Pastor Chris Oyakhilome came for the Healing School . He was literally frisked and not a single stroke of nicety was spent on him. It was real business and objectivity. His Private Jet was thoroughly searched at the airport. He was asked to fill in forms standing on the counter as the airport officials apparently refused him to use the VIP lounge to do all that.

Chris was said to have been very angry at Ose, wife of Ken Oyakhilome, who has been running Christ Embassy aground by her immoral and uninspiring conducts. Chris was also said to have threatened to stop coming to South Africa as he blamed Ose for poorly managing matters in South Africa . Chris who came to South Africa from Texas was said to have gotten the same treatment there.

South Africans strongly feel that Chris made the worse mistake by coming to South Africa in the first place. The investigators handling the matter already have the support of many countries, including Nigeria . They have met with some Nigerian officials who are passionate with fighting crime. A meeting of all religious groups in South Africa was convened penultimate Friday in Kwa-Zulu Natal to discus the notorious activities of Christ Embassy in South Africa .

And as the South African authorities step up investigations, into the activities of Christ Embassy, the people are aggressively mobilizing to stamp out Christ embassy from their country for good.

Memo from a meeting of all religous group, held in Kwa- Zulu Natal last friday, to dicuss Christ Embassy atrocities in SA.

New tuition regime in UK varsities threatens Nigerian students
By Stories: Kemi Obasola
Published: Friday, 3 Apr 2009
Universities in the United Kingdom are planning to increase tuition to 7,000 pounds for home students so that they can cope with rising operation cost which, they claim, is growing faster than the inflation rate.

According to a report published by Universities UK, British universities are considering raising tuition fees as lack of funding in the country‘s higher education has made universities vulnerable to competition with counterparts in the United States as well as some emerging economies.

If fees were raised to 7,000 pounds a year, said the report, a graduate in 2016 would have 32,400 pounds (4,5360 dollars) worth of debt after three years‘ study, which might discourage young people from going to universities.

Twelve university vice-chancellors suggested an average of 6,500 pounds (9,100 dollars) for future tuition fee to cope with rising operation cost which is growing faster than the inflation rate.

Currently, English undergraduate students (and students from other EU countries) have to pay university fees up to a maximum of £3,125 (2008/9). A state-provided loan is available which may only be used for tuition fee costs.

Welsh undergraduate students studying in a Welsh University have to pay a maximum university fee of £1,200. However, if they choose to study outside of Wales they are subject to the same fees as students from that country.

However, foreign students especially those from outside the European Union including Nigeria, have to pay more; depending on the school of choice, they have to pay at least twice what home students pay.

Also, UK universities are generally government funded which mostly means limited funds are available for the university to disburse among students as bursaries and scholarship.

Therefore, if tuition fee is reviewed, many Nigerians may think twice before enrolling in a United Kingdom university. Already, undergraduate fees in a school like Middlesex University, is as high as £9400 and £10,300 at the University of Leeds for international students.

In some cases, students from not too rich homes have to rely on scholarships while others may have to take loans to be able to get overseas education.

This was probably why Bank PHB came up with the UK Education Loan that covers school fees, accommodation and maintenance for the duration of a student‘s course.

But, to benefit, an education account must be opened with the bank which would be built up to 50 per cent of the school fees as advised by the institution of the candidate‘s choice, after which application can be made for the loan.

In an interview with our correspondent, the Head of Corporate Promotions of Bank PHB, Mr. Nduneche Ezurike, said, students applying for the loan had to contribute 10 per cent of the school fess.

”It is percentage driven and it is not affected by increase in school fees. It is a product that is targeted at a particular market as a solution to a particular need. Therefore, it must always reflect the need of its target market.”

A Nigerian student at the London Metropolitan University, Mr. Kazeem Olakunle, said, ”I would advise Nigerians who do not come from very rich homes or do not have full scholarships to stay at home to complete their university education.

”Most of us who are here paid the initial deposit that enabled us to obtain a visa, after the money expired at the end of a session, getting money to pay school fees became a problem. Already, undergraduate degree costs about £8,200 per session, if tuition is reviewed upwards, then, only the nouveau-riche would be able to come to the UK to school. It is also only students from very rich homes who can school here without having to take up a part time job. There is no guarantee that after paying so much, you will get a job on completion of your degree. There are standard private universities springing up in Nigeria, Nigerians can school there.”

A woman, Mrs. Grace Fikayo, who has children in UK universities, said, ”Parents who send their children to the United Kingdom for higher education should be sure that they have enough money to see them through. It is a tough terrain over there and the fees must be paid else they will become dropouts. No matter how high or low the fee is, those who are not sure that they can pay without their children having to go through unnecessary hassles should not dabble into it.”

http://www.punchng.com/Articl.aspx?theartic=Art20090403244162

the point you should ponder on is irrespective of how many wives and children,was the former governor's children and wives treated fairly?
if your answer is that they were,and that he shouldnt be ""whinning"then i guess your assertion will justify and vindicate the likes of ibb,ibori atiku and co because they dont want to end up in the same situation right?