₦airaland Forum

I think the issue should be a better operating environment.

MTN came into Nigeria in 2001 and enjoyed a tax holiday. At that time there was militancy, no light etc. They passed the costs to Nigerians and surpassed their 10 yr projection within the first 5yrs of operations!

Now that there's amnesty (although there's still no light), they've discovered a better operating environment -Ghana. I think The Ghanaians should be wary!

@jttorrents. A point of correction on the tomatoes-Northern Star Tomato Company, Pwalugu, Upper East Region, which had virtually ceased operations, resumed production a few years ago due to the Obasanjo regime policy of ECOWAS tomatoes. On the other hand, GIPC now takes $300,000 from Nigerian businesses setting up. Fair deal?

I think the Ghana/Nigeria issue shouldnt be blown out of proportion. The issue here is how to create a better business environment for us all.

I must commend the poster for an objective and comprehensive post. I wish to add that no matter how bad things are, home is still home, and we must be proud of what we have.

Though some elements of the military have dabbled into politics and earned a bad name for the forces, the Nigerian military has produced distinguished generals such as Martin Luther Agwai, Festus Okonkwo, Victor Malu, Chikadibia Obiakor, Tunji Olurin, Timothy Shelpidi, Oviemo Ovadje and a host of others that have done Nigeria proud. These gallant men and women should be encouraged not chastised.

On the issue of outdated equipment, we need to remember that military hardware are national strategic assets. Therefore, we need to pressurise our parliament to keep the military well equipped and well motivated by effective legislation and appropriation.

Things are difficult, but we need to be more patriotic in these trying days.

If I hadnt come to Ghana, I would have probably denied the Ghana-Nigeria friction, but I've seen it firsthand myself. I decided to inquire about its origins.

Historical Background
Nkrumah's Pan -Africanist dream added momentum to pro-independence movements throughout Africa. Independent Ghana became a model for other states. He was overthrown in Feb 1966. Nigerian traders had long before that extended their frontiers to Ghana. The outbreak of the Nigerian Civil War boosted the number of these traders. However, in 1969, the Busia administration expelled most of these Nigerians. In the 1970s and early 80s, economic hardships had sent many Ghanaians east in search of greener pastures. But after the Buhari/Idiagbon coup in 1983, the junta decided to expel most Ghanaians as part of the Economic Adjustment measures (similar to what the Busia administration did), hence the "GMG" saga. It is pertinent to note that the current ECOWAS Protocol on Free Movement of Persons, as it is now, was yet to take form.

Current Situation
Recently, Ghana has witnessed an influx of large Nigerian companies in the banking (eg GTB, Zenith, Oceanic/Amal,Intercont, UBA,) Insurance (eg IEI, NEM, Equity Assurance), Aviation(eg Aero, Arik, Virgin/Nig Eagle,Bellview ), Real Estate, Telecomms (eg Glo), Manufacturing (eg Omatek), Service (eg e-Tranzact) and Energy sectors(eg AP, Sahara). This influx has boosted FDI in the Ghanaian economy and created employment. These companies can affrod to pay $300,000. However, Nigerians owned MSMEs are threatened by this fee, which is aimed at protecting Ghanaian MSMEs.

Furthermore, during social interaction at various fora, especially amongst the general populace, one can sense the discomfort once a Nigerian is around. I must say that in elite circles, this friction is hardly evident. However, at the level of the lower and working classes it cannot be denied. This friction is based on the following mis-perceptions:

a. 419 Nigerians -It is also believed that Nigerians have brought organised crime to Ghana
b. Lousy and arrogant Nigerian
c. Money miss road Nigerian


Ambassador Obanikoro is doing his best to change these perceptions, caused by the activities of a few Nigerians.
Projects such as West African Gas Pipeline are hoped to boost Nigeria-Ghana relations. It must be said that at government level- the relationship is cordial. Nigeria supplies crude oil to Ghana on a 90 day credit facility.

The Ref was totally biased. The stats are clear

STATS
NGR VEN
Fouls committed 15 19
Fouls suffered 18 14
Yellow Cards 4 0
Red Cards 1 0

Source: www.fifa.com

Ben Akabueze was at the helm of affairs of NAL Merchant Bank for about 5 yrs. Under him, the bank obtained a Universal banking license and metamorphosed from NAL Merchant Bank to NAL Bank and then to Sterling Bank (post consolidation). He's one of the few 'employee-MDs' as agaisnt the 'owner-MDs' we see in Nigerian banks.

I believe he's also done well as Lagos State Budget Commissioner.

They probably knew about his debt protfolio, but gave him the loans anyway since he always did the job of 'moving the markets' in their favour. So as the banks got greedy, he did too.

Read the comments, some of which are really funny.

Just to set some facts right:

1.   Virgin Nigeria is undergoing a financial crisis which started uner the technical management of Conrad Clifford (seconded from Virgin Atlantic).

2.  Virgin Nigeria was paying huge 'brand premiums' to Virgin Altantic for the use of the Virgin Brandname. This was independent of Virgin Atlantic/Richard Branson's shareholding.Virgin Nigeria stakeholders decided to rebrand to cut down on these payments.

3.   Virgin Nigeria took delivery of some Embraer jets recently financed by UBA.

These people are even perpetrating financial irregularities outside Nigeria.

Just a couple of months ago, the MD of Amalgamated Bank Ghana,Mr Wole Ajomale, was sacked by the Central Bank of Ghana.

Amal Bank is owned as follows: 51% Ghanaian shareholders; 49% Meeky Enterprises Nig Ltd. Meeky owns 14.1% of Oceanic Bank Group plc and has Olorogun Michael Ibru as Chairman.

Mr Ajomale was, prior to becoming MD Amal Bank, a Group Head in Oceanic Bank plc. This controversy is ongoing and has added impetus to the growing anti-Nigerian sentiment in Ghana.

Need I say more?

1. Olufunke Iyabo Osibodu
Mrs Funke Osibodu studied Economics at the University of Ife and is also an Alumnus of the prestigious Harvard Business School.
Until her appointment, she headed the Financial & Investment services arm of Vigeo Holding Ltd, a conglomerate involved in various sectors of the Nigerian economy, where she is also serving as a Director. With over 27 years of banking experience, she has been the Managing Director of two banks, MBC, and more recently Ecobank Nigeria Plc, before becoming a Director in the parent holding company of Ecobank, Ecobank Transnational Incorporated, a position she left in August 2006.
In addition to an excellent banking career, Mrs. Osibodu has held various positions of prominence in the business community and has served in various government appointed committees. As well being a member Vision 2010, she has been a director of ValuCard, Nigeria Interbank Settlement System (NIBSS), Consolidated Discount House Limited, First Securities Discount House Limited, MBC Securities Limited, and ESL Securities Limited.
A recipient of various awards, in the non-financial realm she is also a director in Nigeria Economic Summit Group, Enterprises for Development International, a Non-Governmental Organisation, and the Centre for Law & Business – a private law university. She is married to Mr Victor Osibodu and they have children.
2. Suzanne Olufunke Iroche
Suzanne Iroche has several years experience in the banking industry. She commenced her banking career with First Bank in 1981 after which she moved to International Merchant Bank,in 1982 where she worked in various areas. In 1986, she proceeded to The J. L. Kellogg Graduate School of Management, Northwestern University Evanston, Illinois, USA to pursue a Masters degree in Management where she did a summer internship in The Philippines for the Department of Economic Development, City of Chicago on a research project to assist 5 medium sized Chicago companies on business venture development programme.
In 1988 she joined Chartered Bank Ltd as a Manager to set up the Treasury Division from inception, planning and recruitment to structuring and implementation. Suzanne was promoted to Assistant General Manager to head the Corporate Banking Department where she handled a diversified portfolio of companies.
In 1995, Suzanne joined UBA where she managed the Foreign Exchange trading function and offshore investment portfolio for the bank. In 1998, Suzanne moved to the Corporate Banking Sector as Head of Division and was subsequently assigned the responsibility of growing the International business of the bank and marketing International organizations to build the Multilateral/NGO business of the bank.

In 2003, Suzanne was transferred to Head the Treasury and Financial Institutions (FI) Sector with responsibility for managing FX and domestic money market. She was a member of the Asset and Liability Committee (ALCO) and presented the ALCO report. Suzanne was promoted to General Manager in 2005 and acted for Executive Director Investment Bank reporting to the CEO. She was a member of Executive Committee (EXCO).
Suzanne became Executive Director (ED) on the board of UBA in 2005. Her initial position was as ED Wealth Management. She also sat on the board of many UBA subsidiary companies. She successfully led the UBA Pensions Custodian management team to set up the company from conceptual stage to take-off. Suzanne also assisted to strategically reposition the Asset Management and Trustee business for full benefit to the bank. Under her leadership, UBA Asset Management floated 4 Mutual Funds simultaneously in the market. This was the first time multiple funds had been introduced simultaneously in the Nigerian Financial markets.
In June 2006, Suzanne took on the responsibility as ED Global Bank with responsibility for supervision and expansion of the UBA’s banking franchise outside Nigeria. She was a member of Board of Directors of UBA Board, Finance & General Purposes Committee, EXCO and ALCO & Chairman of Leadership Committee.
Suzanne attended secondary school at Queens College Yaba, Lagos and received her B Sc. Economics (Honours) from the University of Lagos and her Masters from the J. L Kellog Graduate School of Management. She has attended several courses as follows: Leadership Programme, Accenture Illinois USA, April 2007, Operations & IT seminar, Mckinsey & Co, Barcelona Spain, May 2005, Oil & Gas Seminar, Euromoney Lagos 2000, Advanced Management Programme (AMP) Insead, France February 2000, Achieving Outstanding Performance Insead France, April 1999, American Express NY, Correspondent Banking Course August 1989, Citibank Bourse Game, Lagos, First National Bank of Chicago Credit Training Programme, Chicago Four-month credit-training programme 1985, Selling Skills Course, Sales Development Association LTD Illinois USA 1984, International Merchant Bank Credit Training Programme 1983.
Suzanne has held the position of Treasurer Victoria Fellowship Church and is married and has 3 children.
Nebolisa Arah

Until recently, he was Chief Executive of Agate Tower Limited, an investment and financial advisory firm. Having been Managing Director of Fidelity Bank before the consolidation programme (from inception of the bank in 1988 until his early retirement in 2003), he possesses a wealth of experience spanning over two decades in the banking and financial service industry. Arah has sat on several boards, including those of Universal Trust Bank Plc, Allstates Trust Bank Plc, Financial Derivatives Limited and Fidelity Union Securities.
He has a Bachelor of Science degree in Agricultural Economic which he obtained from the University of Ibadan in 1976; a Master of Science also in the same discipline and an MBA both from the Ohio State University Graduate School, Ohio, USA. He has attended extensive training programmes in Nigeria and abroad.
John O Aboh
John Aboh was born on July 18, 1956. He holds a B.Sc. degree in Finance and MBA in Finance & Accounts. He has over the years acquired special skills in Structural International Trade Transactions, Computer Literacy and People Management.
He has also attended several proficiency-enhancing courses within and outside Nigeria. A seasoned Banker, Aboh began his Banking Career in 1981 in First Bank of Nigeria Plc. He worked as Credit Analyst, Assistant General Manager and as Deputy General Manager & Chief Inspector in Nigeria Merchant Bank Limited, Nigeria International Bank (Citibank) and UBA Plc respectively.
Notable special projects executed by Aboh include the reorganisation of International Operations System at Nigeria International Bank (Citibank) and the Implementation of the UBA MoneyGram Money Transfer Service.
He was an Executive Director (Banking Operations & Services) of First Bank of Nigeria Plc before being appointed Acting Managing Director/Chief Executive of Wema Bank Plc in January 2008.

Mahmoud Lai Alabi

Mr. Alabi was born on 10th October, 1950 and had his secondary school education at Aggrey secondary school and Mfantsipim School both in Cape coast, Ghana between 1964 and 1971.
He graduated from the University of Lagos in 1975 with a Bsc degree in Economics with First Class Honours, coming out as the best graduating student of the university in that year and winning five (5) academic prizes. He had his Masters degree in Economics from Yale University, U.S.A. New Haven, Connecticut in 1979.
He lectured economics at the University of Lagos between 1979 and 1982. He joined NAL Merchant Bank as a Deputy Manager in 1982 and left in 1985 as a Senior Manager in charge of Strategy and Planning.
He joined First Bank of Nigeria Plc in 1989 as the Assistant General Manager, Corporate Development and was appointed Deputy General Manager, Finance & Planning in 1992.
In 1995, he was seconded as the pioneer Managing Director of Kakawa Discount House Limited. He became the pioneer Managing Director of Kakawa Discount House Limited in 1995, a position he occupied before joining Union bank of Nigeria Plc in 1999 as an Executive Director in charge of Commercial Banking and later of Corporate and International Banking. He retired from the services of Union Bank in March 2006. He was appointed GMD/CEO of Wema Bank plc in September 2008 by the CBN. He held this post until May 2009 when the SW8 Consortium took over control of the bank.

He has served on the board of various companies including Kwara Industrial Trust Fund Limited, First Trustees Nigeria Limited, Union Merchant Bank Limited, Union Trustees Limited, Union-Homes Savings and Loans Plc and Union bank (U.K) Plc.
He was Secretary, UNILAG Economics Students Society and the founding Editor of ULECONS, the annual publication of UNILAG Economics Students Association. He served as Assistant Secretary of UNILAG ALUMNI Association and also as Assistant Secretary of Academic Staff Union of Universities (ASUU) UNILAG chapter.
He was an Executive member of West African Bankers Association (WABA) and Member, Committee on Utilization of Kwara State Industrial Development Fund, Oyun Local Government. He was General Secretary Nigerian-Belgian Chamber of Commerce and Treasurer, Nigerian-European Association and was the pioneer Chairman Nigerian Discount Market Association. He is a member of Ikoyi Club, 1932 and President of Igbotele Development Association. He is also the Asiwaju of the Community in the Oyun Local Government in Kwara-State.

Price??

Hi guys, there's a 3 bedroom terraced house for sale in a Lekki County Homes estate at Ikota. Dont miss this offer!!!

Asking price: N27m

Call Seun on 08060219810.

In America, it is very common to see national flags in front of homes and on cars. The National Anthem means so mcuh to the people of America. Can we say the same of Nigeria?

I support you jare. Glenn Beck should join his brother Hannity.

By the way, I think Alan Colmes is just planted there to give semblance of some balance. The guy doesnt press his arguments as hard as Hannity and he allows Hannity to drown him out.

how u dey?

Any news of when Sterling bank reconstruction will be over?

Thisday Music and Fashion Festival is scheduled to hold at the Kennedy Centre, Washington DC on August 1. Does anyone know how much tickets cost and where I can get them in the US?

For Mainland Park, it started at 350k per plt, went up to 500k, and may soon go up to 800k.

Contact them at:

PENTAGON REAL ESTATES INVESTMENT LIMITED

E68/91 IKOTA SHOPPING COMPLEX

VGC, LEKKI

01 462 6995 Ext 106

DL: 01 462 7970

0702 816 3819

info@pentagonrealestates.com

My broker got me RTBriscoe at 32 bucks. can anyone predict an exit price or is it too high?

@all

The score:

Ordinary PPers 0 [b]Deep Pockets[/b]3

My CHAMS PP money was returned today!!! Any suggestions for CICO for 2mill to meet up

Gurus (FO2, easimoni, wanaj0, invisible, kpineo, windywendy, yoyidokun etc),  for ur urgent attention!  As well as anybody else!!

2ndly, anyone know the ex scrip date for DEAP Capital?

3rdly, anyone got insider gist about LBIC PP and/or AIICO PO allotment??

@All

Anyone with insider info on the allotment for LBIC PP and AIICO PO?

Well said Admiral!!

It is true that military forces all over the world are generally average income earners, hence it is difficult to join thenmilitary and become rich legitimately. However, one must consider the goodwill and value added derived from military service, which cannot be equated with monetary value.

Furthermore, the military has produced some of the best technologies in the world eg the Internet, GPS Technology. Some of the best leaders in the world have military backgrounds eg Winston Churchill, George Bush snr etc

In Nigeria today, we have distinguished military men everywhere eg in medicine Brig Gen Oviemo Ovadje, inventor of the Emergency Blood Transfusion Set; in real estate Brig Gen Tunde Reis, former Chairman Federal Housing Authority and founder of Cooperative villas Badore Lagos & even in banking Mr Abdulrahaman Esene ED Sterling Bank

The discipline imbibed in the military helps military officers to harness both their income and other benefits in order to live within the status expected of the gentleman officer.

Join the army as a service to your country , serve diligently, manage your earnings prudently and at the end of your career you'll be fulfilled.

FACT:

Ribadu was seconded from the Nigeria Police Force to be the pioneer head of the EFCC. In less than eight years, he rose from Assistant Commissioner of Police, above his mates and even some superiors, to Assistant Inspector General. He currently is the only AIG who has not done the mandatory National War College (now National Defence College) or NIPSS course. These courses are usually completed as Commisioner of Police and are used as criteria for promotion to AIG. This was waived in Ribadu's case, while his superiors had to be screened.

While the timing of his nomination to NIPSS is suspect, Ribadu himself knows that he has to do the course for the maintenance of discipline in the Nigeria Police Force of which he is part and on whose foundation he became the Chairman of EFCC.

Col Abubakar Umar rtd, whose name is being touted, is a man of integrity and will surely do a great job if appointed.

Hi guys, can anyone suggest an exit date for Intl Energy Insurance and AG Leventis? Still studying the spreadsheets,

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I'm a man and I'd advise you to keep away from another man. This is because yu're looking for someone to fill a 'gap'. The 'filling' will definitely end up in more problems, so please seek counselling and pray for your husband.

From experience, I've seen many ladies search for the 'ideal guy' and end up in tears- this is a warning to the unmarried ladies- your 'ideal guy' might give you hassles like this.

Could anyone please paste a link to the application form?

Check today's Punch for the list of unclaimed certficates

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Sorry, what's the name of the most 'exposed' one(ie from the pictures shown- and which country is she from ?)?

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