₦airaland Forum

@ Omoba,

You are the one and only heir apparent.  

Abeg, send me the stuff to: adebubba (at) yahoo dot com

Thanks.

Yar’Adua Seeks Details Over

Our Correspondent

• EFCC asks for documents

President Umaru Musa Yar'Adua has requested the Economic and Financial Crimes Commission (EFCC) to
furnish him with more information over the circumstances that led to the arrest of Governor Ikedia Ohakim of Imo State by the Scotland Yard operatives last week.

The governor was allegedly quizzed by a team of police officers in London, on Monday, March 17, over issues relating to money laundering.

Acting on security report from EFCC, the security operatives were said to have invaded Inter-Continental Hotel, Park Lane, Central London, in search of a huge amount of money, which he allegedly took to London through some of his political aides.

LEADERSHIP gathered that vital documents which suggest that Governor Ohakim has a house worth £1.8 million in South Kensington, London, and another in Atlanta, USA, at the cost of $2.1 million were allegedly recovered in his hotel room.

Our source said, "A huge amount of cash, running into millions of dollars," was also recovered from persons linked to the governor.

The governor and one of his aides were allegedly arrested and asked to make written statements before they were released by the security officials.

LEADERSHIP gathered last night that President Yar’Adua, in line with his anti-corruption crusade, had asked for more detailed information relating to the case.

"The attention of the presidency has been drawn to the case, and he had directed the commission to do its work," a source at EFCC corporate headquarters told our correspondent last night.

"You know, the president has the principle of not interfering in our activities, although he has indicated interest to know more about the case, he however directed the commission to do its work."

Chief DSP Alameyeseigha and Mr. Joshua Dariye, former governors of Bayelsa and Plateau States respectively, had been arrested and prosecuted for similar offences.

An anti-graft source told our reporter that the money and other documents allegedly recovered in Mr. Ohakim’s hotel room are still in the possession of the London security operatives, pending when the investigation into the matter is concluded.

SOURCE: http://www.leadershipnigeria.com/product_info.php?products_id=24629

'Landers, what do you make of this?

According to the report below published in today's internet Leadership Newspaper the culprit is Ikedi Ohankim of Imo state.


Yar’Adua Seeks Details Over

Our Correspondent

• EFCC asks for documents

President Umaru Musa Yar'Adua has requested the Economic and Financial Crimes Commission (EFCC) to
furnish him with more information over the circumstances that led to the arrest of Governor Ikedia Ohakim of Imo State by the Scotland Yard operatives last week.

The governor was allegedly quizzed by a team of police officers in London, on Monday, March 17, over issues relating to money laundering.

Acting on security report from EFCC, the security operatives were said to have invaded Inter-Continental Hotel, Park Lane, Central London, in search of a huge amount of money, which he allegedly took to London through some of his political aides.

LEADERSHIP gathered that vital documents which suggest that Governor Ohakim has a house worth £1.8 million in South Kensington, London, and another in Atlanta, USA, at the cost of $2.1 million were allegedly recovered in his hotel room.

Our source said, "A huge amount of cash, running into millions of dollars," was also recovered from persons linked to the governor.

The governor and one of his aides were allegedly arrested and asked to make written statements before they were released by the security officials.

LEADERSHIP gathered last night that President Yar’Adua, in line with his anti-corruption crusade, had asked for more detailed information relating to the case.

"The attention of the presidency has been drawn to the case, and he had directed the commission to do its work," a source at EFCC corporate headquarters told our correspondent last night.

"You know, the president has the principle of not interfering in our activities, although he has indicated interest to know more about the case, he however directed the commission to do its work."

Chief DSP Alameyeseigha and Mr. Joshua Dariye, former governors of Bayelsa and Plateau States respectively, had been arrested and prosecuted for similar offences.

An anti-graft source told our reporter that the money and other documents allegedly recovered in Mr. Ohakim’s hotel room are still in the possession of the London security operatives, pending when the investigation into the matter is concluded.

SOURCE: http://www.leadershipnigeria.com/product_info.php?products_id=24629

saisalam:
congrat to edo state indigen because a wind of new change as started blowing so enjoy for the remaining 3 nd half years.

@ Saisalam,

I think Oshiomole will serve a full 4 year term, which will start from the date he is sworn in ala Peter Obi of Anambra State.

yemmight:
Please I am expecting such result in Ondo State. Osun .
This is a landmark judgement again in Nigeria.

@ yemmight,

I'm from Osun State and have first hand experience of the ineptitude and non-performance of Oyinlola. However, I really don't see any credible opposition in the state. For crying out loud, Aregbesola's AC party have 11 members in the 26 member state house of assembly but have you ever heard them raise any motion about the acute water shortage, uncompleted dualisation of roads and unpaid pensioners?

Wack government, wack opposition.

It looks like "heads you lose, tails you lose" in Osun State.

@ Mckren,

Where have you been?

I was just thinking of you the other day; as I haven't seen any of your posts recently in all the usual haunts.

Anyways, welcome back.

Blackwind:
Certainly better than OBJ.

People often talk about Idaiagbon without credit to Buhari on whose table the bulk stopped. Ascribing all the positives to Idiagbon and associating the negatives of that administration with Buhari is hypocritic.

With N3.00 extra charged per liter of petrol he was able to achieve in about 3 years with PTF what OBJ could not (with unprecedented oil windfall) for all of 8 years,  with numerous fuel price increases to boot.

@ Blackwind

I totally agree with your analysis of how Buahri gave Idiagbon a free hand to govern. Other leaders would simply have run the country as a one man show or feel insecure and threatened by a dyanmic deputy. According to some sources, Buhari only owns two modest homes in Daura and Kaduna and lives on his army pension. I remember his govt for the War Against Indiscipline, and his monthly adresses to the nation on the stae of the economy (i.e how much earned/how much spent to service foreign debt). I think he meant well but his greatest weakness was his inability to carry people along and his attempt to muzzle the press/alienate the judiciary.

I don't really understand the point you are trying to make about N3 per litre and PTF. Can you please explain? Thanks.

Acccording to a sister thread Akala has been confirmed as Governor. We look forward to the finals at the Supreme Court.

@W3live,

You can buy both offers or only one, the choice is yours. In my humble opinion the IPO will be massiviely oversubscribed so any sums over the N5K minimum are are likely to be refunded after the 6 week deadline.

Dangote returned almost a $1 bn to investors of Dangote Flour IPO. If you consider that Dangote Flour was 3ce as expensive and didn't have 1/10th of the publicity of Daar; then its a no brainer that Daar will return huge sums of money.

@W3live,

You can but both offers or only one, the choice is yours. In my humble opinion the IPO will be massiviely oversubscribed so any sums over the N5K minimum are are likely to be refunded after the 6 week deadline.

Dangote returned almost a $1 bn to investors of Dangote Flour IPO. If you consider that Dangote Flour was 3ce as expensive and didn't have 1/10th of the publicity of Daar; then its a no brainer that Daar will return huge sums of money.

@ Dejavoe,

Pls, pls, email me the prosectus and forms for Food Concepts PP. My email addy is: adebubba at yahoo dot com

Thanks.

In my opinion the guy is a prat. He tries to force big words and latin into every sentence and can't even pronounce the simple ones. For example, during the electricity/power public hearing he said " this leaves a 'sore' taste in the mouth". For crying out loud, sour isn't exactly the hardest word on earth to pronounce!!!!!

BRITISH FORENSIC EXPERT EXPOSES AGAGU , SAYS PALMKERNEL, OTHERS USED AS THUMB-PRINT

One of British foremost Forensic experts, Mr. Adrian Forty on Thursday declared that objects such as Palmkernels and stones were used for thumb-printing by agents of the People Democratic Party, PDP in various Local Governments in Ondo State at the last Governorship elections.


Adrian Forty
Testifying at the venue of the Ondo State Election Petition Tribunal sitting on the petition brought before it by the Labour Party (LP) flag bearer in the April 14, 2007 election, Dr. Olusegun Mimiko, the foremost forensic expert disclosed that from analysis of voting materials there were massive thumb-printing and duplication of materials.

Mr. Forty who had earlier testified before the court, explained how he was able to identify cases of multiple thumb-printing done in favour of Dr Agagu whose purported victory Mimiko is challenging in the disputed local governments and Wards namely: Okitipupa, Irele, Odigbo, Ileoluji/ Okeigbo, Ese-Odo, Ilaje, Akure North, Ose, Akoko North East and Akoko North West.

In his Statement-in-chief which was taken as read by the Justice Garba Nabaruma led Tribunal, the British finger print and handwriting expert told the court that over 80% of the votes allotted to Agagu in all the disputed areas were got through multiple thump-printing using all forms of unconventional objects.

Forty gave the percentage of the multiple thumb-printing local government by local government as follows: Akoko North East, 58%; Akoko North West, 27%; Akure North, 50%; Ese-Odo, 67%; Ilaje, 46%; Ileoluji/Okeigbo, 45%; Irele, 47%; Odigbo,49%; Okitipupa, 36%; and Ose, 42%. Further, Mr. Adrian Forty told the court that in the process of carrying out the massive thumb-printing, he stuimbled on widespread usage of objects such as pepples,palm kernels,cashew nuts, wood, candle ends which were used to vote instead of human thumbs. He vouched for the thoroughness of his reseach which he said he did with the best technology all over the world.

Adrian Forty consults for foremost world police forces such as the Metropolitan Police, Scotland Yard, M115 among others.

SOURCE: http://www.pointblanknews.com/os833.html

Looks like Agagu can kiss govt house goodbye, going by the report above.




-------------------------------------------------------------

@ neyeo,

Japaul is a good stock but currently hovering between N12 and N13. I suggest you wait till the share certificates from the recent PO are released, then the price will momentarily drop further. In a nutshell, wait till the price drops then purchase as many units as you can afford, if you have the patience to wait for a year you will smile all the way to the bank.

@ Exboy,

Which year you pass out from NMS?

Peter Odili, former Gov. of Rivers States 'Escapes' Arrest-Reuters.

Last View on Wed 5th March, 2008
Last Modified on Wed 05th March, 2008 12:16:30 pm
Author: Posted by Admin Sahara

By Austin Ekeinde

PORT HARCOURT, Nigeria (Reuters) - The former governor of Nigeria's richest oil state secured a "perpetual injunction" against arrest by the anti-corruption police in a court ruling on Wednesday.

Peter Odili governed Rivers state, which has an annual budget well over $1 billion and where most of the estimated 5 million residents have no power, clean water or access to functional schools and clinics, for eight years until May 2007.

The anti-corruption Economic and Financial Crimes Commission (EFCC) has charged eight out of 36 state governors from the previous administration with corruption since they stepped down in May, losing their immunity from prosecution.

Its fight against corruption in what has long been seen as one of the world's most tainted countries has won praise from donors and anti-graft activists. Investors are also watching for signs of how seriously Nigeria tackles corruption.

Odili's wealth and status make him a bigger target than any of the other eight governors for the EFCC.

The anti-corruption body has been investigating his finances and has said he is suspected of embezzlement, money laundering and gross abuse of office. It has been trying to arrest him.

Just before he stepped down last year, he obtained a court injunction preventing the EFCC from probing the Rivers state government finances. The EFCC immediately appealed against the injunction and that appeal has yet to be decided.

The EFCC tried to continue its investigation of Odili regardless of the injunction, arguing that his name did not appear in the document, but Odili has been fighting back in a federal high court in the Rivers state capital Port Harcourt.

"The subsisting judgment of March 2007 by this court is binding on all parties," said Judge Ibrahim Buba in a ruling delivered on Wednesday.

"Therefore there is a perpetual injunction restraining the EFCC from arresting, detaining and arraigning Odili on the basis of his tenure as governor based on the purported investigation," he said. Odili was not present in court.

"UNACCEPTABLE"

The EFCC's lawyer, James Binang, said the decision was "unacceptable" and the force would immediately appeal.

Nigerian ex-governors have sought such injunctions and some have obtained them, although in other cases the EFCC has prevailed in the end.

Anti-graft activists say such injunctions are a sign of corruption and incompetence in the courts and they have no basis in Nigerian law.

Nigeria achieved a ranking of 147 of 179 countries on the Transparency International corruption perception index in 2007 compared to last place of the 90 countries covered in 2000.

Odili's record in Rivers is one of the most controversial of all the governors whose terms ended last May.

During his eight years in power, the state saw a surge in attacks on the oil industry by militants demanding greater benefits, kidnappings by ransom seekers, political violence and deadly robberies by gangs armed with AK-47 rifles.

The collapse of government in Rivers was documented in detail in a Human Rights Watch report published last year, which said there was nothing to show for billions of petrodollars that had landed in government coffers thanks to the oil price boom.

Human Rights Watch obtained a copy of the 2006 state budget. It contained a $65,000 per day travel allowance for the governor's office alone.

SOURCE: http://www.saharareporters.com/www/news/detail/?id=542

'Landers, what do you make of this?

Peter Odili, former Gov. of Rivers States 'Escapes' Arrest-Reuters.

Last View on Wed 5th March, 2008
Last Modified on Wed 05th March, 2008 12:16:30 pm
Author: Posted by Admin Sahara

By Austin Ekeinde

PORT HARCOURT, Nigeria (Reuters) - The former governor of Nigeria's richest oil state secured a "perpetual injunction" against arrest by the anti-corruption police in a court ruling on Wednesday.

Peter Odili governed Rivers state, which has an annual budget well over $1 billion and where most of the estimated 5 million residents have no power, clean water or access to functional schools and clinics, for eight years until May 2007.

The anti-corruption Economic and Financial Crimes Commission (EFCC) has charged eight out of 36 state governors from the previous administration with corruption since they stepped down in May, losing their immunity from prosecution.

Its fight against corruption in what has long been seen as one of the world's most tainted countries has won praise from donors and anti-graft activists. Investors are also watching for signs of how seriously Nigeria tackles corruption.

Odili's wealth and status make him a bigger target than any of the other eight governors for the EFCC.

The anti-corruption body has been investigating his finances and has said he is suspected of embezzlement, money laundering and gross abuse of office. It has been trying to arrest him.

Just before he stepped down last year, he obtained a court injunction preventing the EFCC from probing the Rivers state government finances. The EFCC immediately appealed against the injunction and that appeal has yet to be decided.

The EFCC tried to continue its investigation of Odili regardless of the injunction, arguing that his name did not appear in the document, but Odili has been fighting back in a federal high court in the Rivers state capital Port Harcourt.

"The subsisting judgment of March 2007 by this court is binding on all parties," said Judge Ibrahim Buba in a ruling delivered on Wednesday.

"Therefore there is a perpetual injunction restraining the EFCC from arresting, detaining and arraigning Odili on the basis of his tenure as governor based on the purported investigation," he said. Odili was not present in court.

"UNACCEPTABLE"

The EFCC's lawyer, James Binang, said the decision was "unacceptable" and the force would immediately appeal.

Nigerian ex-governors have sought such injunctions and some have obtained them, although in other cases the EFCC has prevailed in the end.

Anti-graft activists say such injunctions are a sign of corruption and incompetence in the courts and they have no basis in Nigerian law.

Nigeria achieved a ranking of 147 of 179 countries on the Transparency International corruption perception index in 2007 compared to last place of the 90 countries covered in 2000.

Odili's record in Rivers is one of the most controversial of all the governors whose terms ended last May.

During his eight years in power, the state saw a surge in attacks on the oil industry by militants demanding greater benefits, kidnappings by ransom seekers, political violence and deadly robberies by gangs armed with AK-47 rifles.

The collapse of government in Rivers was documented in detail in a Human Rights Watch report published last year, which said there was nothing to show for billions of petrodollars that had landed in government coffers thanks to the oil price boom.

Human Rights Watch obtained a copy of the 2006 state budget. It contained a $65,000 per day travel allowance for the governor's office alone.


SOURCE: http://www.saharareporters.com/www/news/detail/?id=542

@ Ritapearl,

Daar will be massively oversubscribed. (This means there won't be enough shares to meet the demand of investors). If you do decide to go for it, I'd advise you to buy no more than N5,000 of each. People who buy more than than N5K per offer will be dissappointed and have large chunks of their money returned (possibly without interest) after a minimum of 6 weeks of the offer closing.

@ Pepeye, Amsky and Kokoruma,

The EFCC are already on his tail. He (Odili) is still walking the streets becasue he got a Court order refraining the EFCC or anyone else for that matter prosecuting him.
The EFCC have challenged the order in court and hearing is fixed for this month. In a nutshell, EFCC can't lay a finger on him untill they go to court to successfully overturn the order. Odili's delay tactics may work for a few months but he will eventually be detained, charged to court and given bail.

@ Jakumo,

I beg to disagree with your post. Buhari would never be party to such a mindless act of sabotage.

Its looking good for Yar'Adua. The judge has thrown out Buhari's case and has thrown out most of Atiku's petitio. He hasn't dropped the gavel, but it looks like Yar'Adua has got this one in the bag.

Needless to say, it looks like the lawyers for all parties concerned can look forward to another pay day at the Supreme Court.

Abia elders challenge Kalu to spelling contest
By Chinyere Okoye, 02.25.2008
Monday, February 25, 2008

Can Chief Orji Uzor Kalu, former governor of Abia State, successfully spell “leadership series” – the title of the column he purportedly writes in a newspaper? Will Kalu do well in the Spelling Bee competition organised by the Lagos State government for its secondary school students?

Abia Elders’ Forum, a pressure group, has challenged the former governor to a televised spelling contest with a promise to pay him N100,000 for every word he spells correctly and another N100,000 for the one he knows the meaning.

In a statement signed by Hon. Uchenna Kalu, the Forum accused Kalu of being anti-intellectual.

“It is ironic that it is Orji Kalu's latest gimmickry of being a newspaper columnist which has awakened interest in his character, or indeed lack of it. The column stunt is, of course, part of his anti-intellectualism, which delights in deriding scholarship, whenever he can. The reasoning here is to show that there's nothing special about the writing of columns: Anyone can do it,” the Forum said.

The Forum said Kalu “is not the writer of the so-called column, to which he appends his name. We know who the ghost-writers are; some of them [are] doubling as Kalu's attack dogs… We in the Abia Elders Forum challenge him to a simple test: If he can spell five words, chosen randomly from each of two of his columns, and give their meanings correctly, we shall give him N1million. That works out at N100,000.00 per word, and ought to be attractive enough to even a self-proclaimed ‘billionaire’…”

If Orji Kalu was willing, said the Forum, the test should be organised on TV. “If you are ready, we shall pay the amount to any appropriate account nominated… We are sure that the whole world will soon see that Orji Kalu cannot even spell, not to mention giving the correct meanings of word taken from a column which he pretends to have written,” it said.

The Abia elders also accused Kalu of appropriating a national honour to himself.

“As everyone knows, Orji Kalu appropriated the National Honour of ‘Member of the Order of the Niger, MON’. The MON was added to his official photograph from 1999, and is still there. In his first term, 1999-2003, his name could not be announced without the mention of the MON.

“Then in 2003, it was discovered that Orji Uzor Kalu was never awarded any national honour by anyone. He had simply taken the honour. When confronted with the criminal appropriation of a National Honour, he turned around and claimed that his own MON was not a National Honour, but was derived from an Igbochieftaincy title of “Mmadu Oha Nile”, meaning “man of the people”. He never said who gave the title and when it was given. He has continued to parade himself as an MON,” the Forum alleged.

Source: http://odili.net/news/source/2008/feb/25/212.html (This Day Newspaper 25 02 08)

'Landers, what do you make of this?

@ Enconium and Emmydee,

I feel like crying for this country.

My home state, Osun is in a similar quandry. The incumbent governor is a clueless and incompetent OBJ man. Some parts of the state capital are experiencing acute water shortage since 2004, uncompleted roads now turning to gullies, unpaid pensioners and the list goes on.

Although 11 members of 26 member state house of reps are from AC the opposition party, they seem content with the state of affairs. They haven't raised a single motion asking the executive to justify previous budgets on roads, water supply etc. Even if Oyinlola's election is nullified it would just be a case of same song, different musician.

@ Texxazpete,

According to the Leadership story posted above, the election was overturned because he didn't resign as Chief of Staff to the previous governor, Orji Kalu.

However, I've seen another report on the internet claiming the election was overturned because he failed to prove beyond reasonable doubt that he is not a member of a notorious cult that operates out of the infamous Orkija shrine.

I agree with you that his membership of Orkija should not be a tangible reason to nullify the election. It is his fundamental human right to worship whatever, in any mode he chooses. Or could it be that the decree of the Murtala/Obasanjo regime banning all public office holders from being members of a cult has been incorporated into the constitution? Nevertheless, it can still be argued that Orkija is a religion/traditional faith system and not a cult.

It would be interesting to see how the 'wayoman' Orji Kalu would react to this. If the judgement hinges on his failure to resign, there are only two options, they either produce a resignation letter and the case collapses or no letter and the judgement stands. By the way, if he didn't resign at the appropriate time (before the election), there will be no point in manufacturing a resignation letter as the world is awash with technologies that can confirm/pinpoit the date any document was written.

@ Pinokio

How did you get your Skye Shelter certs? Was it sent to your address or did you collect from your broker?

Did you get the full allocation you wanted?

Thanks.

@ Etin,

Nice one!

You've worked your magic again by making the Resort PP documents available. Great stuff, see you at the bank vault

If Nigeria splits into 3, 4, or 15 fiefdoms it will not make any difference unless the real issue of "corruption" is dealt with.

For instance, who will be the president of OODUA? Take your pick from OBJ, Bode George, Fayose, Oyinlola, Agagu. Tafa Balogun, Ehindero, Akala, Adedibu, Akinjide, Saraki (jr and snr), Tinubu, Olurin, and the beat goes on. It is very likely that the leader will come from that nasty lot or one of their imposed lackey boys.


I'm not sure if Oodua Investment company (wholly owned by Yoruba states) has made a decent profit in years. Ditto the Gateway Hotels. Catch my drift?

@ Frankiriri


Oga Frank, Rule 90 section ii of the SEC document states "The securities shall not be offered to more than 50 subscribers".
Can you kindly break this down for a layman? Surely, it can't be referring to the number of investors that can particpate or buy into the PP, or is it?

@ Afolayangs,

Thanks for this info.

Abeg, will you kindly email the prospectus and application forms for both PPs to: adebubba (at) yahoo dot com

Cheers.

Why not eat your cake and have it? I beleive mortgages are the next big money earner in Nigeria. How many Nigerians do you think, would jump at the chance of owning their own homes via a mortgage?

This market is an untapped goldmine!!!!!!!

Back to your question, why not invest in real estate via the Stock Exchange. Right now there is only one listed mortgage firm on the NSE, namely, Union Homes. Effectively, if you buy shares in Union Homes you are killing two birds with a stone, investing in real estate and shares in one fell swoop.

LBIC recently did a PP, I suspect their shares will head for the moon whenever they are listed. A few other mortgage firms are rumoured to be close to a PP or full listing on the NSE.

@ Etin,

I'm fine thanks. I hope you are having a swell time, smiling all the way to the bank!

Thanks a bundle for your speedy and detailed reply.

I will check with my contacts in Naija for my Dangote returns.