Billante's Posts
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This happened like a month back! Why are u bringing it up now? |
Mos_D: Dis tin dey cofuse me o. D money wey forcasted oil alone go generate pas 10trillion n d budget no reach 5trillion. Where d rest de go?The rest are shared by states,local government,national assembly,judiciary,NDDC,foreign reserves,excess crude account etc. |
The Special Fraud Unit (SFU) of the Nigeria Police Tuesday arrested the Managing Director of Capital Oil and Gas, Mr. Ifeanyi Uba, for his alleged involvement in the fuel subsidy fraud, running intoN22.4 billion. The SFU was said to have arrested him in Lagos at about 2.30pm. Uba was taken to the SFU office in Ikoyi, where he was grilled by a team of detectives. Police Public Relations Officer for SFU, Ngozi Isintume, an Assistant Superintendent of Police, confirmed Uba’s arrest, adding that the suspect is presumed innocent until investigations are over. She said: “I cannot really say much for now because he is currently being interrogated by SFU detectives. Ifeanyi Uba was arrested because of his alleged involvement in the fuel subsidy scam. “We are still investigating the case so I cannot say if he would be released at the end of today (Tuesday). He was indicted by the presidential committee on fuel subsidy verification. “Our job is to thoroughly investigate the matter and then prosecute if it comes to that. We don’t want to pre-empt investigation by commenting on everything. As you are aware, investigation is still on. “But be rest assured that the Commissioner of Police, Tunde Ogunsakin, would in line with his mantra of zero tolerance to corruption see this case to a logical end. “Remember the law says one is innocent until otherwise proven guilty. That is the line we are towing until investigations are over.” Uba, alongside other marketers, was indicted by the Presidential Committee on Verification and Reconciliation of Fuel Subsidy Payments, led by Access Bank Plc Managing Director, Mr. Aigboje Aig-Imoukhuede. The name of his company is on the list of the 25 companies indicted by the committee and recommended for criminal investigation for their alleged involvement in the N62,501,511,789.24 fraudulently obtained through the subsidy scheme. In addition, Uba and his company are on the list of113 companies and 419 directors/shareholders that the Central Bank of Nigeria (CBN) has barred banks in the country from extending further creditto. The CBN arrived at this decision because of the reluctance by the debtors to pay back their loans despite the purchase of the debts at an agreed price by the Asset Management Corporation of Nigeria (AMCON). His company is said to owe over N48.014 billion to banks http://www.thisdaylive.com/articles/-ifeanyi-uba-arrested-over-alleged-n22bn-subsidy-fraud/127289/
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The group says it did not carry out the execution of about 40 students in Mubi Adamawa.http://premiumtimesng.com/news/103009-we-are-not-responsible-for-mubi-killings-boko-haram-leader.html |
A very sexy woman! Her voice/accent makes me kum* every time I hear her speak! |
Very hilarous article! ![]() |
Na because they are too old! God of soccer dey punish them! See dat emenalo girl! SMH |
Yeye keeper! If na prick now e go know how to handle am well! Mtcheew! |
Biahwo playmaker! |
Na waa! France dey everywhere! They are really powering. |
Kickoff |
celepapa: These are brilliant comments. Always knew that Nigerians and Africans would one day rise to clean up the mess of colonization and the negative image some African leaders have created in the past years.I can see u are their PR or a worker there!? Abeg Job vacancy comot for there? make I tender my CV! U said CBS owns other stations apart from TVC entertainment and radio continental which other stations are they? |
If you don't have any source or picture then it didn't happen. |
afam4eva: Is it the same TVC that currently airing a terrestrial channel? I actually think this is a welcome development. We need a channel that can project the good part of Africa to the outside world. it mustn't always be about war, poverty and starvation.Yes it is d same TVC on terrestial channels owned by bola tinubu and co... Let them just report every news that developes whether good or bad...its embarrasing to always get local breaking news from foreign station....and there should be more of live feeds from this station...just like d recent qatar airline emergency landing! A serious local station should have followed that stuation live cause d news broke as early as 30 mins before d plane landed. The suprising thing there is that this live reporting doesn't even need an OB van to be used....new technologies has developed portable devices as small as a suitcase to transmit live feeds from remote locations. |
Nice development! More jobs being created for d unemployed! I just hope it has a good business plan so it won't go the way of NN24, 234next etc... They really need to be on top of every breaking news by having correspondence almost everywhere and also affiliations, so that people will have d confidence of always getting situation report of every breaking news...this will drive traffic audience and inevitably advertisers. |
Eko Atlantic#:Its like u open this ur profile just for tribal wars! Pls OPC is recruiting go and join them, u are wasting ur energy here! |
ekt_bear: 1. OK, small amount of money relative to the size of the naija economy and banking systems.Are u for real? Of course his debts almost brought down d system... The sanusi/govt intervention of 2010 wat do u think caused that? And remeber govt bought all those bad loans in order not to allow d banks to collapse...and as d CBN guy said otedola loan/debt was d highest so his debt can be said to be a major cause of dat near collapse...so I think d systemic risk term d guy used can be said to be right. |
ekt_bear: My understanding of the term is an organization which could potentially bring down the entire system if it goes insolvent.141 billion is a small amount of money Hmmm!That amount is equivalent to d whole shareholders fund of most banks! That money can setup five banks in ghana...abeg 141 billion is not small amount of money |
ekt_bear: Really? I'm either not understanding what this phrase means, or the guy is using it incorrectly.What in systemic risk u don't understand? |
Gbo gbo Big boi! ![]() |
The Chairman of Zenon Petroleum and Gas Limited and Forte Oil Plc, Mr. Femi Otedola, has paid up his outstanding debt of N140,999,620,395.80 owed the Asset Management Corporation of Nigeria (AMCON), THISDAY learnt Sunday. Managing Director/Chief Executive Officer, AMCON, Mr. Mustafa Chike-Obi, who confirmed to THISDAY, revealed that the corporation had reached a settlement with Otedola, and that the AMCON board met last Thursday and approved the transfer of the businessman's assets as well as an undisclosed sum of cash to AMCON as full and final settlement for his liabilities. He however declined to disclose the assets that were transferred to AMCON, citing the confidentiality agreement binding the transaction, but explained that a proper valuation was undertaken by a valuer appointed by the corporation to assess Otedola's economic and landed assets. The Central Bank of Nigeria (CBN) had in a move aimed at strengthening financial stability and instilling discipline in the banking sector, blacklisted Otedola, Zenon and 112 other companies as well as their principal shareholders and directors where the outstanding value of the loans purchased by AMCON amounted to N5 billion or more from taking further credit from banks, until full liquidation of the agreed indebtedness. The list had revealed Otedola as the biggest debtor to the corporation from bank loans of N192, 422, 889, 943. 56, which was acquired by AMCON at an agreed price of N140, 999, 620, 395. 80. The board meeting, Chike-Obi further explained, came on the heels of the Executive Committee (EXCO) and Credit Committee meetings of AMCON, which took place last Monday to consider and approve Otedola's repayment terms as full and final settlement of the amount owed the corporation. He added: "This is a positive development as the settlement by the biggest debtor to AMCON showed that there are no sacred cows because even a prominent businessman like Otedola has come out to settle." Chike-Obi said reaching this stage with Otedola involved over six months of long-drawn out meetings and negotiations with the businessman during which his assets had to be valued by an independent valuer to ensure that they matched his debts. However, a reliable source who was abreast of the payment terms, but pleaded to remain anonymous, gave a breakdown of how Otedola accumulated the huge debt, saying that Zenon, after taking a syndicated loan from five banks, was adversely affected by the global economic downturn in 2008. According to him, Zenon lost N75 billion when oil prices fell from a peak of $147 a barrel, N40 billion through currency devaluation, N25 billion in the capital market, and N50 billion as a result of accrued interest and penalties charged by the banks on the facility. "Zenon Petroleum has paid AMCON the full and final settlement of its obligations/loans to some Nigerian banks, which was bought over by AMCON in May 2011," the source said. He pointed out that Otedola had decided a while ago to let go of his assets and start on a clean slate, adding that the businessman had accumulated a stack of court injunctions against the banks when they went after him for their money. "So for all parties, this is a way out to get their money and settle all the cases once and for all," he said. Also, a CBN official, who confirmed the settlement reached between AMCON and Otedola, described it as a positive development, stating: "Given that he (Otedola) had the highest exposure to the banking system and posed a systemic risk, we are pleased that he has settled his obligations." http://allafrica.com/stories/201210010129.html |
Nairaland is just a place for kids dat have access to internet to be insulting their fathers! Can't you moorons be sensible for once?....abeg when adults that have sensible analysis to do on dis topic come on board make una beep me. |
D place looks small to me and it would have made more sense to have a pool there too! But good development anyway! |
Watermelon: Who scored dat goal, mukina where are you?,Ayinde scored! |
::Andrew:::Can it stream live on a BIS subscription on blackberry phone? |
14' Nigeria tries a shot on goal, but it is off-target. 12' Colombia concede a free-kick following a challenge on a player from Nigeria. 10' A player from Colombia commits a foul. 9' Nigeria are penalised after committing a foul. 8' Nigeria take the corner kick. 7' Colombia concede a free-kick following a challenge on a player from Nigeria. 6' A player from Colombia commits a foul. 4' Nigeria has a shot blocked. 3' Nigeria are ruled offside. The match kicks off. |
No station showing it? Even DSTV? |
[quote author=Dis Guy][/quote]Na the newspaper dat wrote d story dat got it wrong! It should be fesibility study....I think it is d person dat will construct d rail lines dat should design! Since it is not FG dat will construct d rail,they shld not design for d investor. |
Dis Guy: in another newspaper and on channels i heard it's for a feasibility study not even a design contract oOf course d money is for fesibilty study! How can u build 5 speed rail tracks for just 9 million dollars....the full cost of all those tracks should not be less than 10 billion dollars if it is speed train they actually want to build. Like d minister said it will be done on PPP! so funds might not be a problem! Cause sincerely federal goverment does not have dat amount to build them! they will definately be abandoned if they try to. The best FG can do, which it is trying to do is to carry out d fesibilty study, give d investor right of way and all neccessary condusive enviroment for the investor to work with. |
Former Minister of Defence, Lt.-General TheophilusDanjuma (rtd), has admonished wealthy Nigerians and top public office holders to dedicate part of their earnings towards alleviating poverty in the country. He said rather than being selfish and self-centred, these crop of Nigerians who have amassed wealth for themselves, should try to give back to the society through investing in projects that would touch people’s lives. Danjuma gave the advice Wednesday while presenting cheques from TY Danjuma Foundation totalling N180 million to 32 non-governmental organisations to support various rural empowerment projects. He explained that TYDF has so far spent N809 million to fund various poverty eradication projectsin the country. While expressing his displeasure over the level of poverty and deprivation in the land, the ex-military chief-turned politician wondered what various governments are doing to create employment and assist the rural populace presently being ravaged by hunger and disease. “I challenge Nigerians who have been graciously endowed to commit to giving back to the society. They should spend less on those SUVs and convoys and spend on ordinary people,” he said. This year’s TYDF-funded projects will be executed in eight states namely Taraba, Edo, Ekiti, Ondo, Zamfara, Bauchi, Gombe and Nasarawa. According to Danjuma, the foundation is targetingthree key thematic areas of community health initiatives, education and income generation initiatives, including women and youth empowerment. Speaking on why no states in the South-east were included as beneficiary states, Danjuma said the foundation is open to all who meets its criteria for funding assistance. He defended his venture into philanthropy, saying it was based on his desire to see that genuine development and empowerment reaches the people at the grassroots. He also tried to clear possible suspicion on his source of wealth for the foundation which he linked to proceeds from his offshore oil block acquired more than a decade ago. “During the inauguration of my foundation, I did explain my source of funding which is from the proceeds of an oil block that is situated nearly 200km off the country’s shores. For the past 12 or 13years we have been producing oil in that field and exporting it,” he said. Danjuma said it was from the proceeds of his oil field that he decided to set aside the sum of $100 million to fund the TYDF. Earlier, the interim Executive Director of the foundation, Dr. Edugie Abebe, said 17 organisations have been granted funding support ranging from N3 million to N30 million to execute various programmes in capacity-building, skills acquisition, youth and women empowerment and healthcare projects. She also said another 14 rural community-based organisations in Taraba and Edo States would receive grants totalling N13 million under the 2012 edition. http://www.thisdaylive.com/articles/danjuma-rich-nigerians-should-use-wealth-to-fight-poverty/126146/ |
And it is Coming up well! The brand new bigger international terminal also coming up...the loan for d construction just signed with china last week
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Nice design! And it is just for the local terminal for local flights!
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Hmmm!