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Billante's Posts

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PoliticsRe: Fashola Donates 114 Vehicles, Security Equipment To Police by billante(m): 9:29pm On Oct 13, 2012
This happened like a month back! Why are u bringing it up now?
PoliticsRe: Text Of Jonathan's 2013 Budget Speech by billante(m): 9:21pm On Oct 10, 2012
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.
PoliticsCapital Oil Ifeanyi Uba Arrested Over N22bn Subsidy Fraud by billante(op): 3:11pm On Oct 10, 2012
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/

PoliticsBoko-Haram Denies Responsibility For Mubi Killings by billante(op): 7:44pm On Oct 09, 2012
The group says it did not carry out the execution of about 40 students in Mubi Adamawa.
The insurgent group, Jamaatu ahlis Sunnah lil daawati wal jihad, also known as Boko Haram, hasdenied carrying out the attack that claimed the lives of over forty persons, most of them students of tertiary institutions in Mubi, Adamawa State last week
.

A man who claimed to be a senior member of the group, who spoke exclusively with PREMIUM TIMES on Tuesday, said his group had nothing to do with the killing of students in Mubi.
“We have no business with students or student politics. If students are our target we would have killed them randomly on sight and in their school and not sneak on them in the creeping darkness in an area occupied by both students and residents,” he said.

The man, whom independent checks revealed to be a member of the group, said if the sect wanted to attack educational facilities; it would have gone for structures not students.
“What would have been our target as far as I am concerned would have been the building and properties of the institution, since it is owned by the Government. At least, by now other students elsewhere would have been attacked if students are our concern,” he added.
He said the mode of attack is not characteristic of the sect’s numerous attacks
.

Several press releases by our spokesman and Imam in the past have made it clear who our enemies are, I don’t have to repeat it here. I don’tthink anybody amongst us has the time to draw up a list or read it out before executing the students.”

The group’s denial throws another controversy into the likely perpetrators of the dastardly act, which saw over 40 people, mostly students of the Federal polytechnic Mubi, killed on October 1 by armed men. Some were shot while others were slaughtered. Security agencies are already investigating the criminal act.

We lost members, but so did JTF
The insurgent leader also admitted that the Joint Task Force, JTF, in various Northern States had killed many of its members; but claimed that some of those killed were innocent people with nolinks to the group.

He accused the JTF of hiding the casualty figure suffered by the force in various confrontations with the sect.
“We have killed a lot of security personnel in the north especially in Yobe and Borno state, far morethan the lies the JTF sell to you, media,” he said; adding that “a significant number of our brothers were killed but most of the people the JTF have killed have nothing to do with us. They are just youths in the wrong place at the wrong time.”

He said his sect was “not like the JTF that hide their casualties.”
“Yes, we suffered some casualties but I want to assure you that our structure, specialists and armpower are intact, and these crises will continue tillwe die,” he said.

Qaqa alive, may have been captured
The Boko Haram member said the sect’s official spokesperson, Abu Qaqa is still alive. He however refused to confirm if Mr. Qaqa is alive with the group or is being detained by security agents.

A successful search operation in Kano, in September, by members of the JTF had led to thekilling of some of the sect’s members and arrest of others. One of the arrested persons is believed to be Mr. Qaqa, according to top security sources.The Boko Haram leader in his talk, like the evasivestatement of its overall leader, Abubakar Shekau, would however not confirm whether Mr. Qaqa hadbeen captured or not.
“Our Imam has made it clear in his last video that Qaqa is alive, but I cannot answer your queries whether Qaqa is alive with us or with the security agencies,” he said.

He said his group was looking at “how best to communicate with the public.”
“Very soon our position will be clear on all these issues, Qaqa and other sundry issues. We are studying the situation, we are strategizing our operations.
“I can assure you that we will not suffer any more defeat like we did in the past Insha Allah,” he added
http://premiumtimesng.com/news/103009-we-are-not-responsible-for-mubi-killings-boko-haram-leader.html
PoliticsRe: Aviation Minister Paddles A Canoe To Her Flooded Anambra Hometown by billante(m): 4:39pm On Oct 09, 2012
A very sexy woman! Her voice/accent makes me kum* every time I hear her speak! kiss
PoliticsRe: BBC -nigeria's Expert Copy-cats by billante(m): 5:27pm On Oct 05, 2012
Very hilarous article!
grin grin grin
SportsRe: Nigeria Vs France: (3 - 5) On Pens In U-17 Women's World Cup 4th Oct 2012 by billante(m): 6:05pm On Oct 04, 2012
Na because they are too old! God of soccer dey punish them! See dat emenalo girl! SMH
SportsRe: Nigeria Vs France: (3 - 5) On Pens In U-17 Women's World Cup 4th Oct 2012 by billante(m): 6:02pm On Oct 04, 2012
Yeye keeper! If na prick now e go know how to handle am well! Mtcheew!
SportsRe: Nigeria Vs France: (3 - 5) On Pens In U-17 Women's World Cup 4th Oct 2012 by billante(m): 5:32pm On Oct 04, 2012
Biahwo playmaker!
SportsRe: Nigeria Vs France: (3 - 5) On Pens In U-17 Women's World Cup 4th Oct 2012 by billante(m): 4:11pm On Oct 04, 2012
Na waa! France dey everywhere! They are really powering.
SportsRe: Nigeria Vs France: (3 - 5) On Pens In U-17 Women's World Cup 4th Oct 2012 by billante(m): 4:00pm On Oct 04, 2012
Kickoff
PoliticsRe: Pan-african TVC News To Start 24-hour Broadcasting From November by billante(m): 3:58pm On Oct 03, 2012
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.

Yes TVC News is owned by Continental Broadcasting Service (CBS),owners and operators of TV Continental( Now TVC Entertainment),Radio Continental 102.3FM amongst other stations. But for TVC News, the first pan-African 24 hour news station to be launched in November, it is not about the owner and the perception of the owner, but its about projecting Africa's voice at the global scene. news reporting that is fearless, relevant and reliable.

TVC News would not only broadcast in Nigeria, but can be viewed across Africa,Europe,USA etc. For the first time Africans can tell their own stories.

TVC News ... Through African Eyes
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?
PoliticsRe: Three Of The Workers That Demolished Mushin Market Died Vomitting Blood by billante(m): 3:01pm On Oct 03, 2012
If you don't have any source or picture then it didn't happen.
PoliticsRe: Pan-african TVC News To Start 24-hour Broadcasting From November by billante(m): 2:56pm On Oct 03, 2012
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.
PoliticsRe: Pan-african TVC News To Start 24-hour Broadcasting From November by billante(m): 1:10pm On Oct 03, 2012
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.
PoliticsRe: Akeredolu Will Transform Ondo, Says Fashola by billante(m): 9:11pm On Oct 02, 2012
Eko Atlantic#:
What nonsense is that? undecided
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!
PoliticsRe: Off The Hook: Femi Otedola Fully Settles His N141billion Debt by billante(op): 11:06pm On Oct 01, 2012
ekt_bear: 1. OK, small amount of money relative to the size of the naija economy and banking systems.
2. What of points (b) and (c), which you failed to address?
3. What of the post above, arguing that this is just ordinary credit risk rather than systemic risk?
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.
PoliticsRe: Off The Hook: Femi Otedola Fully Settles His N141billion Debt by billante(op): 10:47pm On Oct 01, 2012
ekt_bear: My understanding of the term is an organization which could potentially bring down the entire system if it goes insolvent.

But, given that
(a) N141 billion is a relatively small amount of money
(b) it is a single guy
(c) he took out this loan in 2008 and his lack of payment up until now didn't bring down the system

then I don't think that the quoted CBN guy's characterization is correct.
141 billion is a small amount of moneyhuh 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
PoliticsRe: Off The Hook: Femi Otedola Fully Settles His N141billion Debt by billante(op): 10:16pm On Oct 01, 2012
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?
PoliticsRe: Off The Hook: Femi Otedola Fully Settles His N141billion Debt by billante(op): 9:48pm On Oct 01, 2012
Gbo gbo Big boi! cool
PoliticsOff The Hook: Femi Otedola Fully Settles His N141billion Debt by billante(op): 9:45pm On Oct 01, 2012
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
SportsRe: Nigeria Needs N7bn For 2016 Olympics — Sports Minister by billante(m): 2:27pm On Oct 01, 2012
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.
PoliticsRe: Enugu, The Pride Of The East. by billante(m): 10:18pm On Sep 30, 2012
D place looks small to me and it would have made more sense to have a pool there too!

But good development anyway!
SportsRe: Nigeria Vs Colombia (3 - 0): U-17 Women's World Cup On Saturday Sept-29-2012 by billante(m): 4:41pm On Sep 29, 2012
Watermelon: Who scored dat goal, mukina where are you?,
Ayinde scored!
SportsRe: Nigeria Vs Colombia (3 - 0): U-17 Women's World Cup On Saturday Sept-29-2012 by billante(m): 4:40pm On Sep 29, 2012
::Andrew:::
changed my ip to uk now working
Can it stream live on a BIS subscription on blackberry phone?
SportsRe: Nigeria Vs Colombia (3 - 0): U-17 Women's World Cup On Saturday Sept-29-2012 by billante(m): 4:18pm On Sep 29, 2012
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.
SportsRe: Nigeria Vs Colombia (3 - 0): U-17 Women's World Cup On Saturday Sept-29-2012 by billante(m): 4:05pm On Sep 29, 2012
No station showing it? Even DSTV?
PoliticsRe: FG Approves N1.3bn For Design Of 5 Fast Train Lines by billante(op): 1:03pm On Sep 27, 2012
[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.
PoliticsRe: FG Approves N1.3bn For Design Of 5 Fast Train Lines by billante(op): 12:47pm On Sep 27, 2012
Dis Guy: in another newspaper and on channels i heard it's for a feasibility study not even a design contract o

these things are all too confusing, cos im sure ive heard the Lagos -Ibadan so many time even 2 weeks ago!!
Of 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.
PoliticsDanjuma: Rich Nigerians Should Use Wealth To Fight Poverty by billante(op): 12:01pm On Sep 27, 2012
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/
PoliticsRe: Enugu, The Pride Of The East. by billante(m):
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

PoliticsRe: Enugu, The Pride Of The East. by billante(m): 10:28am On Sep 27, 2012
Nice design! And it is just for the local terminal for local flights!

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