₦airaland Forum

sexybbstar:
na you go know fake Christian. Using make up now portrays you as the devil's child. Smh. For your information, mfm doesn't forbids make up and jewelries for members except of you are a worker or you want to get married in that church.

Babe howfar good to know your an MFM member lets talk privately ok. Don't mind bad belle people.

yeyerolling:
ashewo .

lol how e take concern you

Wetin my church do you?

Babe howfar Good to know you're an MFM member. can we talk privately very important

ok

I wish it happens but his oga at the top will not permit it believe it or not.

Why won't the FG bear the cost for his treatment? I dont get it.

Good news I just hope the put their house in other on time. So they can plan better ahead of 2019.

kikake:
Today's governors in the east are on their own. They struggle for who shall write best report for Sokoto/Kanem Bornu empire on people's of the old onesoutheast.

lol funny you

Abs76:
I see nothing to complain even oga at the top is still working with pdp members

He is doing it for the media deep down him he hates opposition.

Kiakia:
He is not alone. Umahi of Ebonyi State is also an APC man masquerading as a member of PDP. These men should have the balls to declare for APC.

True talk

Eight Nigerian banks downgraded in new Moody’s report
November 12, 2017Oladeinde Olawoyin
GTBank
GTBank building used to illustrate the story
Moody’s Investors Service (Moody’s) has downgraded to B2 from B1 the long-term local currency deposit and issuer ratings of four Nigerian banks. It also downgraded the long-term local and foreign currency issuer ratings of another development bank.
The agency, in its new rating released Friday, listed the banks to include Access Bank Plc (Access), Guaranty Trust Bank Plc (GTBank), United Bank for Africa Plc (UBA) and Zenith Bank Plc (Zenith) while the Bank of Industry, BOI, was listed as the development bank.
Moody’s also downgraded to B3 from B2, the long-term foreign currency deposit ratings of Access, GTBank, UBA, Zenith, Union Bank of Nigeria plc (Union), First Bank of Nigeria Limited (FBN) and Sterling Bank Plc (Sterling).
Moody’s Corporation is the holding company that owns both Moody’s Investor Services, which rates fixed income debt securities, and Moody’s Analytics, which provides software and research for economic analysis and risk management. Moody’s assigns ratings on the basis of assessed risk and the borrower’s ability to make interest payments. Its ratings are closely watched by many investors.
Ratings range from AAA or Aaa (the highest) to C or D, which represents a company that has already defaulted.
Analysis of the report seen by PREMIUM TIMES shows that concurrently, the agency downgraded the baseline credit assessments (BCAs) of Zenith and GTBank to b2 from b1.
Earlier on Tuesday, Moody’s released a report in which it downgraded the Nigerian government bond ratings to B2, with a stable outlook, from B1. But the Debt Management Office, in its reaction, had rejected the rating.
In its latest rating of banks, the agency noted that the rating reflects the government’s reduced capacity to provide support to Nigerian banks in times of stress and the banks’ significant holdings of government securities linking their credit profiles to that of the government.
“The decision to downgrade banks’ long-term foreign currency deposit ratings follows the downgrade of the relevant country ceiling for foreign currency deposits to B3 from B2,” the agency said.
Commenting on the rationale behind the rating, Moody’s said the primary driver of the rating action is the weaker capacity of the government to provide support to banks, in case of stress, as reflected in the downgrade of the sovereign issuer rating to B2 from B1.
Subsequently, it said in its report, Access and UBA’s long-term local currency deposit ratings and Bank of Industry’s long-term issuer ratings no longer benefit from a one-notch uplift from their b2 BCAs (or standalone credit profile, as is the case for Bank of Industry) as these are now at the same level as the government bond rating.
The long-term local currency deposit ratings of Sterling, Union and FBN have been affirmed at B2, as their b3 BCAs continue benefiting from one notch of government support uplift, it explained.
The report explained further that the secondary driver of the rating action is the Nigerian banks’ significant holdings of government securities, which generally exceed 100 per cent of their core capital, linking their credit profile to that of the government.
“In view of the correlation between sovereign and bank credit risk, the banks’ standalone credit profiles and ratings are constrained by the rating of the government.
“As a result, the BCAs for Zenith and GTBank have been downgraded to b2 from b1, in line with the downgrade of the government issuer rating, despite the resilient financial performance witnessed by both banks over the last 24 months.
“The BCAs of the other rated Nigerian banks have been affirmed as they already capture risks emanating from their sovereign exposures.”
INDIVIDUAL BANKS
For individual bank rating, the report affirmed Union Bank’s BCA and adjusted BCA at b3; long-term local currency deposit rating at B2; local and foreign currency issuer ratings at B2; and global scale short-term deposit and issuer ratings at Not-Prime. It, however, affirmed that the outlook on all long-term deposit and issuer ratings remains stable for the bank.
The report affirmed First Bank’s BCA and adjusted BCA at b3, long-term local currency deposit rating at B2, local and foreign currency issuer ratings at B2, short-term global scale deposit and issuer ratings at Not-Prime, and local currency national scale ratings at A2.ng/NG-1. The outlook on the deposit and issuer ratings, it said, remains negative.
For Access Bank Plc, Moody’s affirmed the BCA and adjusted BCA at b2, long-term CR Assessment at B1(cr) and global scale short-term deposit and issuer ratings at Not-Prime.
“The downgrades are primarily driven by the rating agency’s view that the government’s capacity to provide support for Nigerian banks in times of stress has weakened as indicated by Moody’s recent downgrade of Nigeria’s government bond ratings to B2 stable from B1 stable,” it said.
Similarly, for Guaranty Trust Bank Plc, the agency downgraded BCA to b2 from b1, long-term local currency deposit rating to B2 from B1, long term foreign currency deposit rating to B3 from B2, long-term local and foreign currency issuer ratings to B2 from B1 while the global scale short-term deposit and issuer ratings were affirmed at Not-Prime. The outlook on all long-term deposit and issuer ratings also remains stable, the report said.
“The downgrades are primarily driven by the bank’s high exposure to government securities that link the bank’s credit profile to that of the government,” it added.
The ratings were also slightly similar in the case of Sterling Bank Plc, United Bank for Africa Plc (UBA), and Zenith Bank Plc.
On the Bank of Industry, BOI, Moody’s report showed that it downgraded the long-term local and foreign currency issuer ratings to B2 from B1 and its long term local and foreign currency national scale issuer ratings to Aa3.ng from Aa1.ng.
“The Aa3.ng/NG-1 national scale issuer rating now represents the highest attainable national scale rating (NSR) in Nigeria.
“All global scale short-term issuer ratings were affirmed at Not-Prime. The outlook on all long-term issuer ratings remains stable.
“Bank of Industry’s b2 standalone profile remains unchanged and reflects (1) its robust capital buffers, with an equity to assets ratio of 34.0% as of June 2017, (2) a stable liability structure made up of long-term funding at concessional rates and (3) the tangible improvements to the bank’s risk positioning in recent years. These strengths are balanced against (4) our expectation that asset quality will be increasingly pressured given then bank’s higher risk exposure to the micro, small and medium-sized enterprises (MSMEs) segment, which exposes it to riskier assets,” the report said.
On what could move ratings up or down, the report said demonstrated ability to contain non-performing loans while maintaining solid core profitability and capital generation could put upward pressure on the banks’ BCAs or lead to a stabilisation in the outlook, particularly in the case of FBN.
It added further that an upgrade of the banks’ global scale deposit and issuer ratings would be contingent on an improvement in the operating environment that translates to an upgrade of Nigeria’s sovereign rating.
“The ratings could be downgraded in the event of a further downgrade of the sovereign and/or if we assess that the government’s willingness to provide support in the future will decline below our current assumptions,” the report said.
“The ratings could also be downgraded if we anticipate that a deterioration in the macro environment poses downside risks for asset quality and/or the capital generation capacity of the banks beyond what is already assumed in the ratings.”


https://www.premiumtimesng.com/news/headlines/249169-eight-nigerian-banks-downgraded-new-moodys-report.html

What is the essence for the visitation self? na wa for these people oh

Some chieftains and members of the Cross River State House Assembly of the Peoples Democratic Party (PDP) have accused Governor Ben Ayade of working covertly for the All Progressives Congress (APC), and is responsible for the decamping of notable members of the ruling party in the State to the APC.

The PDP stakeholders also accused the governor of awarding contracts to known APC members to the exclusion of PDP faithful.

“It does appear that there is a deliberate and dedicated effort to ensure that the PDP in Cross River State is substantially weakened and reduced to a platform incapable of any significant impact on political fortunes of our State,” the petition read.

The allegations are contained in a petition to the National Chairman of the PDP, Senator Ahmed Makarfi, received on October 20, 2017 at the national headquarters of the party and signed by a former deputy governor, Efiok Cobham, former Majority Leader of the state assembly, Hon. Tom Agi, one-time special adviser on public transport, Edem Ekong, former Attorney General, Attah Ochinke and nine members of the state assembly.

“In a manner that has confounded all party members, HE, The Governor has on several occasions, openly expressed his support for the APC and even admitted that he has been funding the APC in the State. Indeed, and as if to confirm the foregoing, the only contracts awarded in the state are to members of the APC,” the petition reads in part.

The petitioners cited examples of Ayade’s empowerment of the APC to include; “the Boki link Road, a project with a contract value of over N4billion, was awarded to a chieftain of the APC, and 80% of the contract sum paid upfront;

“The Governor’s very first contract upon assumption of office, was for supply of Refuse Collection Bins. This contract was infamously awarded to another chieftain of the APC from the Governor’s Local Government Area;

“The Present State Woman Leader of the PDP, was the flag bearer of Labour Party in the 2015 general elections into the State House of Assembly. While still a Labour Party member, she was nominated by a chieftain of the APC and appointed by the Governor to serve as the PDP State Woman Leader! She has never bothered to decamp from Labour Party and has maintained her dual membership of the parties till date,” the petitioners wrote.

When contacted, Chief Press Secretary to the Governor, Mr. Christian Ita, promised to call back on the issues raised but he never did, while other attempts to reach him failed.



https://www.google.com.ng/amp/s/thewhistler.ng/amp/story/gov-ayade-working-apc-party-chieftains-lawmakers-allege/

Na wa oh Our tradition na die hard

I will get back to you

Good one sha

loveth360:
just go back to sudan.



See as person they call buhari done dey fat.abi miracle of allah be this.

Just arrange the flight to Carry him lol

by the way u've got nice pics

LuvU2:
Banky is smart that's why he got a pretty nd smart woman. Not surprised anyway, not so good looking men re usually smart.


modified: Ooops, forgot! Banky my luv quick recovery darling ❤

you are looking for trouble oh better get prepared

Blood of habakuk I just off 1bill nor be beans oh

Story... Story.... mr man park well jor

Good one so are you saying we have to start going to Shiloh in other to find our missing ribs?

Ok

I somehow like this man cause he is innovative and hardworking. Kudos sir

we are doomed in this country. I am just imagining how other countries are laughing at us.

Ojiofor:
It's transfer season again.

lol real transfer season

Bros you try but imagine asking a child to draw a Nigerian flag in school and he or she goes out to draw all this... too many drawing inside one flag try again.

Mallam Isah Dansallah, an associate of former vice president, Atiku Abubakar and Simon Dogari, ex-speaker of Taraba state House of Assembly, have defected from the ruling All Progressives Congress (APC) to the Peoples Democratic Party (PDP).

Dansallah, a founding member of the APC, explained that he defected due to what he called lack of good governance by the ruling party.

“I dump the APC to PDP because the opposition PDP is lesser evil compare with the ruling APC,” he told the Leadership.

“There was a time that I found myself in the APC, I worked for it success in 2015, but the APC has metamorphose and turn into a ghost with crisis all over.

“The APC led government has succeeded in subjecting Nigerians to abject poverty and has successfully divided Nigerians along religious and ethnic lines.

“People are dying every day with various sickness because of depression as some people can’t even afford a square meal a day.”

Similarly, in Taraba state, the former speaker and other chieftains of the APC on Sunday defected to the PDP.

Dogari, who defected with about 3000 supporters, told PDP party members at the party’s secretariat in Jalingo that the APC lacked focus.

His words: “We have seen the sense of direction and commitment for progress by the PDP and decided to join the party to enable us contribute our quota for the development of the state.”


http://dailypost.ng/2017/10/15/atikus-ally-dansallah-ex-taraba-speaker-dogari-defect-pdp/amp/


Cc: Lalasticlala

I knew this was going to pop up..... which is clearly because of his ambition

The Economic and Financial Crimes Commission (EFCC) is investigating the Ayodele Fayose government in Ekiti for alleged diversion of over N680million meant for salaries and pension of civil servants .

The amount has been traced to a fixed account which the EFCC claims yields N6million monthly.

The discoveries informed the arrest of the state’s commissioner of finance and the accountant general by the commission.

Both officials, who were released on Wednesday, have made commitment to “assist the commission with relevant documents before they were granted administrative bail and ordered to report back in two weeks.”


According to a top source in the commission,

many facts came to light in the course of investigating alleged misapplication of the bailout funds by the Fayose administration.

One of such disclosures is the N1.7billion contract awarded to a Lebanese Company. The company moved part of the money to allegedly purchase properties for the governor.

The source added: “Investigators stumbled on evidence of diversion of funds meant for payment of state and local government employees in Ekiti State including pensioners.

“Specifically, over N600million was diverted on 25 January 2016. The funds comprising N200million from the Ekiti State Local Government Salary Account, N300million from the Ekiti State Pension Account and N180million from the Ekiti State FAAC Account were first credited into the Consolidated Revenue Account in Zenith Bank on 25 January 2016 and later transferred the same day into an account called 2015 MDG-CGS state project account domiciled in Zenith Bank.

“The analysis of the bank statement revealed that the money was later placed in a fixed deposit where it was yielding monthly interest of about N6million, at a time pensioners and workers in Ekiti State are owed months of unpaid entitlements.”


The source said that EFCC investigators are poring over documents to uncover the beneficiaries of the monthly interest on the fixed deposit.

Apart from the bailout funds, the EFCC had recently also uncovered alleged diversion of over N59.6million meant for projects under the Millennium Development Goals (MDGs) in Ekiti State by one Abiodun Agbele, who is an associate of the state governor, Mr. Ayodele Fayose.

According to EFCC investigators, the MDGs’ funds were transferred from an account in the First Bank of Nigeria(titled MDGs-CGS Local Govt) to BYKD Consult Limited which is purportedly owned by Agbele.

Documents indicated that the funds were transferred in four tranches as follows: February 18, 2015(N18, 159, 050; N15, 319,850; N11, 218, 500; and March 30, 2015—N15, 704, 325.

Upon the receipt of the funds through his account 0059177132 in Diamond Bank, Bodija, Agbele allegedly diverted these for the payment of choice vehicles from Affordable Motors.

Agbele, who is presently on trial was said to have been used as a front to launder N1.299billion for Fayose through his company called De-Privateer.

But as the EFCC operatives were probing more clues on slush funds and payment of kickback by contractors in the state, they uncovered alleged diversion of MDGs’ funds.

The Presidency had released N713.7billion as Special intervention funds to states.

The bailout was part of a three-pronged relief package to end the workers plight in most of the 36 states.

While N413.7billion represented special intervention funds, the balance of about N250billion to N300billion was a soft loan to states.

Also, following protest by states against over deductions for external debt service between 1995 and 2002, President Muhammadu Buhari had approved the release of N522.74 billion (first tranche) to states as refunds pending reconciliation of records.

Each state was entitled to a cap of N14.5 billion being 25% of the amounts claimed.

The second tranche of N243, 795,465,195.20 was also disbursed to states in July.

But most of the state governors were alleged to have either diverted or converted the relief funds to personal use.

https://www.google.com.ng/amp/thenationonlineng.net/bailout-funds-efcc-probes-fayoses-govt-alleged-diversion-n680m/amp/

Just for highness oh... is this not foolishness? If it was food I would have said maybe is hungry

A man identified as Johnny Creed who was approached by a white woman to marry her daughter for money has asked Nigerians to advise him.

The 21-year-old man who is an upcoming artist explained that the woman offered to give him money if he agrees to marry her 18-year-old daughter.

According to Creed, after he told the lady that he has never been in a relationship she offered to give him whatever he wants if he promised to marry her daughter.

Creed noted that she also promised to give a sum of 400,000 dollars which is approximately@145,000,000 in naira.

The lady proposed that she would give him the money if he promised to marry her daughter later in the future.

Despite the fact that the money would help Creed promote his songs, he is concerned that he might fall in love with someone else before her daughter is ready for marriage.

He also noted that he has never met the lady’s 18-year-old daughter. Creed further said he is not willing to spoil his name or be tagged as a scammer if it doesn’t work out the way she wants.

The lady proposed that she would give him the money if he promised to marry her daughter later in the future.

Despite the fact that the money would help Creed promote his songs, he is concerned that he might fall in love with someone else before her daughter is ready for marriage.

He also noted that he has never met the lady’s 18-year-old daughter. Creed further said he is not willing to spoil his name or be tagged as a scammer if it doesn’t work out the way she wants.

Read what he shared on YabaLeft below:

“Please help I need your advice, my name is Johnny creed, this White woman has been promising me heaven and earth after I told her that I’ve never dated all my life.

She said i should agree that I’ll marry her beautiful 18 year old daughter in future as I’m just 21 and have never met her daughter in person. She also promised to send me a whooping sum of $400,000 to live large and promote my songs as I’m a Nigerian upcoming artist.

But I’m scared that this might be a trap and I might find true love in the nearest future as I don’t want to be indebted to anybody nor scam anybody I really don’t want a bad name, although I need the money! I’m just confused.”

What would you advise Creed to do and also if you where the one what will you do?


https://www.google.com.ng/amp/s/gossip.naij.com/amp/1129576-oyinbo-lady-promised-pay-n145m-i-marry-18-year-daughter-man-photos.html

Cc: Lalasticlala

Educative thanks for the info