₦airaland Forum

The State Security Service (SSS) today paraded a suspect, ex-militant Adelola Tamunotonye Olaore, alias "General Africa" over a plot to assassinate and extort money from Senator Aloysius Etok in Abuja.

Senator Etok is the man that Governor Goodswill Akpabio openly admitted having rigged into office, although the Senator has said his election was transparent.

But Senator Etok also occupies the Ikot Ekpene Senatorial Seat, the same seat that the governor covets in 2015 when he cannot run for a third term, giving the impression it is merely being held in trust for him.

The suspect, who was born in Port Harcourt, hails from Okeho in Kajola Local Government of Oyo State. He confessed to having been contracted by three of Governor Akpabio’s loyalists to assassinate Senator Etok. In order to convince the Senator [he was not lying] he offered to furnish him with details of the Governor’s purported Bank Account and Energy Company in South Africa.

Adelola said that he wanted to broker peace between Governor Akpabio and Senator Etok, having followed the political wrangling between the duo over the Ikot Ekpene Senatorial Seat.

He confessed to having used the political rift to extort money but he was apprehended by the security operatives.

That development following a directive from the SSS to the Senator who had written a letter to the service titled “REPORT OF THE PLANNED ASSASINATION BY A MAN WHO CALLS HIMSELF GENERAL AFRICA (AN-EX MILLITANT)”

The Senator was asked to play along with the suspect, leading to his arrest on April 29.
Governor Akpabio, a personal friend of President Goodluck Jonathan, has made it plain he will represent the Ikot Ekpene Senatorial District in the Senate in 2015, an ambition that has the entire Peoples Democratic Party machinery in the state behind him, including a faction of the legislature which recently adopted a resolution warning Senator Etok they will only support Akpabio’s Senatorial candidature in the forthcoming election.

Speaking recently in an interview about the political manipulations in Akwa Ibom State, the Senator said, “That is what happened during my second term struggle that as soon as they knew I was going to contest, my wife was kidnapped. After the release of my wife, my mother in law was kidnapped.

“When she was released, she died because of the torture she received in the hands of the kidnappers. As a result of that my father in law died out the heart break. Therefore, I also want Nigerians to ask Governor Akpabio what I have done to him. I have not done anything to him. I want all of you, like I am going to send a petition to the President, to ask Governor Akpabio to let me be. That his hit squad which he has resurrected should let me live. If anything happens to me, I want the world to know that Governor Akpabio is after my life.”

can this be true.
what are our politician turning into, just power all the way

source www.saharareporters.com

i like the way the minister dress, she look beautiful here.

i love the way the minster dress, she look more beautiful here.

"Alamieyeseigha has shown himself to be a dishonourable fellow, unfit to rule, unfit to sit among men and women of honour and integrity, unfit to preach to the people that he leads about ideals and values."

~ Dr. Reuben Abati, writing in The Guardian on November 25, 2005.

"Nigerians Reaction To Alamieyeseigha's Pardon Is ‘Sophisticated Ignorance."

~ Dr Reuben Abati, March 16th, 2013.

true or false

1. 1960 - 1966: Sir Abubakar Tafawa - Balewa's tenure, no public funds stolen

2. 1966: Major - General Aguiyi Ironsi's. brief tenure, no public funds stolen

3. 1966 - 1975: General Yakubu Gowon's tenure, very little corruption creeping in

4. 1975 - 1976: General Murtala Ramat Muhammed's tenure, zero tolerance for corruption and indiscipline

5. 1976 - 1979: General Olusegun Aremu Matthew Okikiola Obasanjo's tenure, rulers started owning large properties running into millions of dollars

6. 1979 - 1983: President Shehu Shagari's tenure, characterised by weak leadership. Ministers and other top functionaries had a field day looting all the lootable public funds and properties even though the President himself was not stealing any dime!

7. 1984 - 1985: Major - General Muhammadu Buhari's tenure, zero tolerance for corruption, indolence and indiscipline. Corrupt politicians were jailed a minimum of 200 years in prison each!

8. 1985 - 1993: General Ibrahim Badamasi Babangida's tenure, freed all the corrupt politicians jailed by General Buhari. These same freed politicians are majorly the same set of politicians ruining Nigeria now. During Babangida's tenure public funds were being carted away by public servants like confetti. In one swoop about 12 billion dollars mysteriously vanished!

9. 1993 - 1998: General Sani Abacha's tenure, five billion dollars stolen in his five years tenure

10. 1998 - 1999: General Abdulsalami Abubakar's 11 months tenure, about 2 billion dollars were alleged to have been stolen. Anyway the man is among the wealthiest people in the country today!

11. 1999 - 2007: President Olusegun Matthew Aremu Okikiola Obasanjo's second tenure, his bank account grew from twenty thousand naira after emerging from prison to being a multi-billionai re with choice properties in Nigeria and major cities of the world. Public infrastructure declined massively and gangsterism became the order of the day by his party, the PDP. Corruption prospered massively in his tenure! In one swoop 16 billion dollars just vanished, allegedly for electric power projects but darkness was supplied and is still being supplied in large quantity! In another mysterious disappearance the sum of 300 billion naira (2 billion dollars) meant for road projects also vanished into thin air!

12. 2007 - 2010: Late President Yar'adua's tenure, a quiet reserved and the messiah that not live long to be! The noiseless tenure. But due to perpetual ill-health was unable to tame corruption which is the character and perfume of his party men and women in the PDP. Had a slightly large family but he never allowed public funds to be spent on feeding the first family!

13. 2010 - Present: President Nnamdi Azikiwe Ebele Goodluck Jonathan's tenure, full of noise but empty of substance. Spends about a billion naira per year for food for himself, wife and two kids. In the 2011 election year about 2.6 trillion naira just disappeared from the public till, which is the highest disappearance of public funds per year in the country's history! Intolerant of criticisms. Suffers acute inferiority complex and seems to dislike any war against corruption.

Recently, A former Education Minister and Vice President of the World Bank, Mrs Oby Ezekwesili accused his government and that of his immediate predecessor of not accounting for about $67 billion dollars! Since then his government has been responding in the manner of a headless chicken. They are busy insulting the woman instead of stating in facts and figures what they did with the money. In fact, the SUNDAY PUNCH newspaper of 25/11/2012 pointedly said about 31 billion dollars were stolen since his government came to being on May 6, 2010. His government looks promising to hold the medal for the most corrupt in the world!

Lord have mercy on my fellow youths and give us the courage to save this country!
who can we truth in this country as a leader.

Ajibel: @op

Source of d joke

na joke................... no source

A man wt an Ak47 rifle ran 2 a church &point d gun @ d congregation saying "who is d child of God here let me send him to the heaven" d congregation kept sillent, he den fired a shot in d roof.... d congregation shouted " it is d pastor! He always say, dat he is d child of God" Pastor replied, Wat sort of conspiracy is this? every one here knows dat i am d son of ckukuwdi & d grand son of okeke.. So, Wat is my business wt God..... I beg if na play make una stop am..........lol......

9hours

The embattled chairman of Action Congress of Nigeria (ACN) in Kaduna State, Alhaji Mohammed Musa Soba, has described the national leadership of the party as a “rogue leadership,” and accused them of selling the candidature of its presidential candidate in the 2011 election to the Peoples Democratic Party (PDP) for one hundred million dollars.

In that election, the ACN states voted for President Jonathan, not their own candidate, Malam Nuhu Ribadu.

“A rogue leadership is one that collected one hundred million dollars (N16 Billion) from the PDP, delivered the south-west to the PDP in the 2011 presidential election and shamelessly turn round to accuse the PDP of corruption and stealing of public funds,” said Alhaji Soba, whose removal was announced by the ACN spokesperson, Lai Mohammed.

Firing back at the national leadership in a statement sent to SaharaReporters, Alhaji Soba claimed that he is being witch-hunted for asking them to explain why they sold the bid for the presidency.

He described ACN as lacking a Board of Trustees and visionary leaders and always abusing its own constitution while shamelessly labeling others as clueless and dictatorial.

“We challenge Lai Mohammed and the national secretary of the party, Senator Lawal Shuaibu, to tell the whole world why state chapters like Enugu, Ebonyi, Abia, Cross Rivers, Bayelsa, AkwaIbom, Nassarawa, Plateau, Bauchi, Gombe, Yobe, Borno, Adamawa, Taraba and Kaduna states are all facing national leadership induced crises,” he said.

Alhaji Soba insists that he is still legally the chairman of the Kaduna ACN, stating, “Their own decision on the Kaduna leadership crisis is a nullity, void ab initio, and an exercise in futility for its violent conflict with the party’s constitution, NEC’s resolution of May 11, 2011 and all the civilised norms of a democratic practice.”

He also described as empty, the threats by the ACN national leadership to sue the Kaduna State Independent Electoral Commission for recognizing him.

“The threats by some national officers of the ACN to drag the Kaduna State government and the Kaduna State Independent Electoral Commission (SIECOM) to court to stop the forthcoming local government election over the latter’s recognition of Barr. Mohammed Musa Soba as the duly elected chairman of the party in Kaduna State, is an empty threat and an emotional blackmail that exposes Lai Mohammed as an impostor whose intellect has been badly infected by intellectual virus to the extent that he does not know the definitions of law and democracy anymore,” he said.

Look at the devastation in Kogi State that our Government turned their deaf ears to. We must demand and hold our Government accountable if these type of devastation is not even making a headline news. How ruthless our Country has turned to. What has happened to our news media? Where are our journalists? I am dumbfounded that we have leaders who absolutely do not care for what happened to its people.

I am sure if this happened in Lagos or major cities like Abuja it would be on the National news. What has Kogi Citizens done to our Government. We are the voice of our people we must blow the trumpet for them so that appropriate services is rendered. In a civilized world, appropriate budget is allocated each year by the Federal Government for natural disasters. Nigerian Government have such al
locations in their budget where is the money? Have they spent such money as they have spent the subsidy money? When would our youths rise up and said enough is enough for this hungry lions and bring them to justice.

We cannot continue to leave in fare, if not we are enslaving ourselves and our children and the one yet unborn for this good for nothing leaders. Let us demand that the State Government and the Federal Government should deep their hands into such budget for the immediate relief of the good people of Koton Karf, Mozum and those in Lokoja area that leaves by River Niger's banks. We cannot stop to help our people since Government would take forever for their humanitarian aid to come if any would ever surface.

The military Joint Task Force today further dealt a massive blow to the operational capabilty of the terrorist group Boko Haram following a successful operation launched at the group’s command and control center in Kano.
Recall that two members of the sect had been captured yesterday after a gun battle with the military and officers of the SSS. One of those captured is believed to be Abu Qada, the group’s spokesman and “media coordinator.”
The JTF in a statement emailed to Newsmensaid, “Following further operation in the suspects heavily wired IED hideout, the following items were recovered: Two AK 47 rifles, Two Pump Action Rifles, One Berretta Rifle, One Smoke Discharger, 433 rounds of 7.62 Nato ammunition, 80 rounds of 7.62 special ammunition, 2 AK 47 magazines, 36 Prepared IEDs, 13 Laptops, Two motorcycles, Four Printers, One photocopier, One 33 slots Zenith Disc writer, One TG 3900Ez Generator set, Religious Books, large quantity of CD plates, Two decoders, Two Satellite dish, One 21'' Television set, One DVD player, 2 Bags of Urea fertilizer, One Elite dry cell 12v battery, One blue gate UPS, One stabilizer, 10 Hand held Motorola radios and 5 Battery chargers.
The JTF further said, “this latest encounter with the terrorist group have foiled its planned attack to wreck havoc on the good people of Kano state. It has equally further depleted the capacity of the terrorist group to operate. The JTF would like to use this medium to reiterate its resolve to continue to work assiduously towards the protection of lives and property in the state.
“The relative peace which Kano enjoys today can be attributed to the collective effort and prayers of the good people of Kano State.”
The JTF appealed to the general public to continue to volunteer information while assuring the utmost confidentiality in dealing with such information.
“Residents are therefore enjoined to go about their normal lawful business activity without any fear as security agents are ready and will respond swiftly to any treat to life and property in any part of the state,” the JTF added.

Obasanjo said boko haram cannot win this war!!!!

source www.searchnigeria.net

President of Ghana Mr. Atta Mills is dead according to intelligence sources in Accra, the Ghanaian capital.





source www.saharareporters.com

[quote author=delord's]They won't react on issues affecting the common man (BOKO HARAM, POVERTY, UNEMPLOYMENT, ELECTRICITY....) but they are ready to die or impeach the president when any policy affect their pockets. Please tell these THIEVES to reduce the grammar "POOR IMPLEMENTATION" to what Nigerians will understand. They will always use superficial grammar to cover up their motives always pregnant with criminal tendencies.[/quote]ode dont you know that the budget is well implement all this issue will be solved

as am writing this post now there is fuel tanker that fell down at obehira-okene express road in kogi state right now,and the fuel are linking seriouly.
please fire service where are you pple, b4 something else will happen.

•Three escape with injuries •Other boats badly burnt •JTF sets five fuel tankers ablaze


A fresh tragedy hit Rivers State yesterday, barely a week after the tanker explosion claimed close to 200 lives.

The latest incident is the explosion of a vessel leaving 30 passengers dead.

Three persons were injured and three other vessels were badly burnt.

The tragic scene was the Abuloma Jetty, Port Harcourt.

The ill-fated vessel, according to a source, belonged to a private company contracted to supply food and sundry items to off-shore employees of an oil company.

It was found to be leaking and a group of welders was engaged to seal the leaking points.

It was gathered that the welders were on the job when the explosion occurred.

An eye witness said: “One of the welders was blown off by the explosion. He landed in the fire and died on the spot.”

In the ensuing confusion, three of those in the vessel jumped into the river, despite their injuries, in a bid to swim to safety. They were rescued by sympathisers and rushed to the hospital, although two of them were said to be in critical conditions.

There are fears that no other persons escaped.

Most of the dead, a source said, were girls whose mission in the vessel was not immediately known.

The owner of the vessel also could not be ascertained at press time.

The Rivers State Sector Commander of the Federal Road Safety Commission (FRSC), Dr. Kayode Olagunju, said of the accident: “An oil vessel, at about 9.45 hours caught fire and exploded at the Abuloma Waterfront in Port Harcourt. The fire was still restricted to water area. FRSC, NEMA, Police, Fire Service and others were the rescue agencies on the ground. Casualty figures not yet known.”

The Police Public Relations Officer (PPRO) in the state, Deputy Superintendent Ben Ugwuegbulam, did not respond to telephone calls when The Nation on Saturday called.

Three other vessels anchored near the burning vessel and other facilities were badly burnt by the raging fire, which could not immediately be confronted in view of the intensity of the heat.

As the fire raged, men of the Joint Task Force (JTF), code-named Operation Pulo Shield, set ablaze five tankers used by illegal bunkerers for transporting petroleum products. Spokesman for the JTF’s Sector 2, Captain Sunny Samuel confirmed the burning.

•Lobbyists mount pressure on Reps to end cold war •We’re not on witch-hunting mission but to make Nigeria work -Reps spokesman


President Goodluck Jonathan wants an immediate end to the cold war between him and the House of Representatives.

He has invited Speaker Aminu Tambuwal for peace talks to iron out their differences.

The duo were scheduled to meet last night at the Presidential Villa for the talks.

The Presidency and the House are locked in a stand-off over alleged slow pace at which the 2012 Budget is being implemented with the Reps, on Thursday, threatening the President with impeachment for the situation.

They gave him up to September to implement it to 100 per cent, failing which “we will begin drafting the article of impeachment.”

Moments after the Thursday session of the House, the Presidency responded to the impeachment threat, saying it was on the same page with the Reps on the budget issue.

Spokesman for the President, Dr.Reuben Abati, told reporters that his principal was as concerned about the budget’s performance as the Reps.

However, The Nation on Saturday gathered last night that President Jonathan personally reached out to the leadership of the House with a view to ending the stand-off.

Besides, some top government officials, friends and associates of the President have, on their own, launched separate initiatives to stop the situation from degenerating.

They were said to be lobbying the Reps to sheathe their swords.

After harmonisation, the Senate and the House of Representatives had, on March 15, passed a budget of N4.88 trillion with a benchmark of $72 per barrel. The vote was increased from N4.65 trillion proposed by the Federal Government.

The President, however, assented to a N4.7 trillion budget on April 13.

But the House of Representatives on Thursday expressed displeasure that only 30 per cent of the budget had been implemented.

Authoritative sources said the President was showing a lot of resolve to close the ‘communication gap’ between the Executive and the House.

The President was said to have contacted Speaker Tambuwal to hear him out on the grievances of the lawmakers.

A source said: ”s a leader, the President on Thursday invited the Speaker for interaction on issues raised by the House. I think they were expected to meet yesterday.

“There were strong signals that the two leaders had opened up discussions on the telephone before the Speaker was invited by the President.

“Neither the President nor the Speaker wanted the polity to be heated up by the budget palaver.

“The Presidency had wielded enormous influence to lobby the House members to defer Thursday’s special plenary on budget implementation, but it did not work out at all.

“Apparently, the Speaker deliberately switched off to also stave off pressure that could heighten the misunderstanding between the House and the executive arm.

“What I can conveniently tell you is that the leaders have started talking. Apparently, there is a ‘communication gap’ between the two sides and there is need to improve working relationship.”

Neither the Presidency nor the House was willing to officially comment on the rapprochement last night.

Besides, some top government officials, associates and strategists of the President have been wooing House members to end the logjam over budget implementation.

A principal officer of the House, who spoke in confidence, said: “Forces and people around the corridors of power have been calling us to sheathe the sword.

“We have told them that the issues we raised were not personal. We were concerned about how to move Nigeria forward.

“It got to an embarrassing level that some of us had to switch off our phones.”

The Chairman of the House Committee on Media, Hon. Zakary Mohammed, said the House does not rule out dialogue with the Executive.

“For us, we are after the right thing being done. The appropriation law is being addressed with impunity. We are empowered by the 1999 Constitution to raise questions like we did on Thursday on the floor of the House.

“We owe our employers (Nigerian masses) a duty to ask questions on their behalf and protect their interest when things are upside down.

“No one is after President Goodluck Jonathan, but we want the system to work. We are in July and the budget is not being implemented as expected. Even some approvals made for the execution of some key projects had no cash backing. That means, nothing is working.

Asked if the Executive has reached out to the House, Mohammed said: “It is not impossible, because in a situation like this, they would want to market their position to the House leadership.

“And going by what the Majority Leader, Mrs. Mulikat Adeola, said that the situation will be addressed before we resume from recess, there could be room for dialogue.”

Director-General of the Securities and Exchange Commission (SEC) Ms Arunma Oteh is unfit to hold the position, the House of Representatives said yesterday.

Ms Oteh was recalled from suspension by the Federal Government on Wednesday after being cleared of “fraud or criminal breach of any form by external auditors – Price Water Cooper Limited (PWC) - which audited SEC’s controversial Project 50.

But workers protested her recall at the Abuja Central Business District (CBD) office of SEC.

Minister of Finance Dr. Ngozi Okonjo-Iweala has stepped into the matter to smoothen Ms Oteh’s return to office. The SEC DG failed to resume in office yesterday as widely expected.

Yesterday, the House accepted all the recommendations of the Ibrahim El Sudi-led ad hoc committee that investigated the near-collapse of the Capital Market.

During the consideration of the committee’s report, El Sudi said: “ I want to correct an impression that has been created in the media that tends to affect the image of the House.

“The Executive and all Nigerians know that this House inaugurated a committee that led to the suspension of the SEC DG and that the report of the panel set up by the Executive has not even been adopted. And now the Federal Government has recalled the DG.

“I want to state categorically that Arunma Oteh is not qualified to be the DG of SEC. Sections 3, 35 and 315 of the Investment and Securities Act are clear on this.

“As at the time Oteh was appointed as the DG SEC, she was not registered with the SEC as required by the Investments and Securities Act. She didn’t have 15 years cognate experience as a Capital Market operator and so, I want to say here today that Oteh is not qualified to be the DG of SEC.

The lawmakers also called for the prosecution of some persons they considered being responsible for the near collapse of the capital market.

The committee’s recommendations of all which were accepted include:

•That the Regulatory Authorities in the Capital Market should take proactive and preventive measures to forestall the near collapse of the Capital Market in future as the following reasons were identified by the Committee as the reasons for the near collapse of the market in the past and lack of public confidence in the market:The sum of N8Billion missing from Union Bank Pic public offer of 2005; Nationalisation of some Banks without due process; Banking sector consolidation of 2004/2005; unbecoming activities and market infractions of some capital market operators;

poor regulation of foreign port folio investors thereby precipitating capital flight; high cost of doing business in the capital market; contradictory monetary policy of the CBN; absence of product variety and low level of new listing thereby hampering dept and liquidity of the capital market; conflict of interest and misconduct of the current leadership of SEC, thereby fettering its regulatory capacity; loss ofjcredibility of the entire SEC management team, led by the DG, Arunma Oteh; Regulatory failure of SEC and CBN; incompetence and lack of statutory qualification by the current DG, SEC, Ms Arunma Oteh ; unguarded utterances by key financial system’s regulators; AMCON’s activities that constitute a time bomb and potential disaster in waiting in that there is doubtful process of Non Performing loans. (NPLS) valuation, inadequate liquidity and capital base, AMCON’s involvement of one of its regulators, SEC, in its Board contrary to Section 10, AMCON Act, non-accountability of AMCON to any authority; layers of moral . hazards in SEC and diversion and.issue of bonds for debt re-financing; irregular acquisition of Intercontinental Bank flc by Access Bank Plc; irregular acquisition by AMCON of the performing loans of SEAWOLF and GEOMETRICS Company etc.

•That consequently, with respect to the missing N8 Billion arising from the Union Bank Plc public offer, a case of fraudulent diversion having been established, the past board and management of Union Bank Pic, the CEO of the Issuing House/Financial Adviser to the Offer, the present members of the Board and Management, including the Managing Director of Union Bank Plc, Mrs. F. Osibodu, should be investigated by the Economic and Financial Crimes Commission, EFCC with a view to establishing and recovering the missing amount. The management of AMCON and SEC, including their respective CEO’s (Mustafa Ch Ike-Obi and Ms Arunma Oteh), should be investigated by the EFCC considering their roles in attempting to conceal the fraudulent diversion and missing fund.

•That the Nationalization of AfriBank Plc, Bank PHB, and Spring Bank, and their subsequent change of names to Mainstreet Bank, Keystone Bank, and Enterprise Bank respectively, is a Violation of the AMCON Act, NDIC Act and Section 44 of the 1999 Constitution of the Federal Republic of Nigeria as the processes of transfer were fraught with potential forgery, unethical practices, abuse of office, and various unacceptable bad corporate governance precedents; the transaction should be reviewed and investigation be carried out on the following by the EFCC and other Security Agencies -

i. Umaru Ibrahim, Managing Director/CEOjof NDIC ii. Mustafa Chike-Obi, Managing Director, AMCON; iii. Sanusi Lamido Sanusi, Governor, Central Bank of Nigeria; iv. All those who were used or offered themselves to be used in the various misrepresentations leading to the corporate registration of the nationalized banks, v. Bello Mahmud, Registrar General, Corporate Affairs

Commission; vi. All the faceless “lawyers”; Directors’ of Mainstreet Bank Ltd, Keystone Bank Ltd, Enterprise Bank Ltd should be unearthed and

made to face the wrath of the law.

•That the Governor of Central Bank of Nigeria, Sanusi Lamido Sanusi, as the Chief Executive Officer and Chairman of the CBN Board is hereby cited for contempt of the House of Representatives having refused to produce after demand the special Examination Report upon which the intervention in the 8 Banks in August 2009 was based.

•That the CBN’s action in disbursing N620Billion bailout funds and other intervention funds afterwards did not follow due process of law and the Constitution of the Federal Republic of Nigeria, 1999, as the source of funds and the appropriate authority did not approve.

•It is further recommended “that in future any bailout plan for the Capital market or financial sector should receive appropriate authorization and should be done after a comprehensive and transparent determination and location of the beneficiaries, borrowers, lenders and relevant collateral provided.

•That the CBN and SEC should produce clear guidelines on margin facilities and related transactions without further delay.

•That to restore investor confidence, SEC should overhaul its regulatory framework, and build requisite technical capacity to enable it tighten regulation on malpractices by market operators.

•That considering the high dependence of the Nigerian Capital Market on foreign investors, and in view of the fact that they were able to pull $15 Billion out of the Nigerian Capital Market, the CBN, SEC, the Debt Management Office, Federal Ministry of Finance, the Federal Ministry of Trade and Investments are hereby requested to produce guidelines and a national policy that should govern the entry, operation and exit of foreign portfolio

investments in Nigeria.

•That in view of the need to reduce the cost of doing business in the Nigerian Capital Market to increase its competitiveness, it is hereby recommended that the SEC and the NSE should be directed to ensure that transaction Fees do not exceed 6% down from the current high level of 12% and that brokerage commissions should not be more than 35% of the Transaction Fees, currently at above 50per cent.

•That CBN and the Federal Ministry, of Finance should henceforth, ensure the harmonization of Nigeria’s monetary and fiscal policy. An accountability framework to hold the CBN responsible for financial system’s instability should be put in place by relevant authorities.

•That SEC is hereby requested to conclude disciplinary actions on all outstanding market infractions that has remained so for more than two months; and report back to the House within 30days of the adoption of this report.

•That the Securities and Exchange Commission should take appropriate steps within its statutory relationship with the NSE to increase product variety in other to boost liquidity, encourage’ listing incentives, and desist from delisting of companies without thorough scrutiny.

•That engagement of Access Bank staff by SEC on Secondment to SEC which regulates the Bank is unethical and may erode investor confidence and they should immediately be disengaged.

•That to further restore investor confidence, SEC should immediately disengage from its intervention in the Council of NSE, and remove its nominees on the NSE Council.

•That Project 50 activities of SEC which appears to lack transparency and accountability be further investigated by EFCC and ICPC to determine whether infractions and possible fraud had taken place.

•That in view of the breakdown of corporate governance in SEC, leading to total collapse of cooperation and coordination within its Board and top management and since the tenure of thefBoard has expired, top management of SEC should be relieved of theirs duties so as to give the capital market an opportunity of credible regulation through appointment of a neutral Board and top management that will regain the confidence of investors.

•That the following persons be further investigated by the House on account of their role in the banking sector crisis that led the CBN to intervene in 8 Banks in August, 2009:

i. Charles Chukwuma Soludo; Fomer Governor, CBN;

ii. Ignatius Imala; Former Director, Banking Supervision, CBN

iii. Tunde” Lemo, Deputy Governor in charge bf Banking Supervision.

•That the appointment of Ms Arunma Oteh be terminated forthwith as DG of SEC as her appointment is in violation of Section 3(2) a and Section 38 (1) (b), 2 and 3; Section 315 of the ISA 2007 in that she did not have 15 years experience in the Nigerian Capital Market as required; she has shown incompetence in the management of human and material resources at her disposal in SEC; lack of transparency in managing project 50, regulatory failure in some of the recent mergers, acquisitions and approvals of transactions by SEC and general inability to carry along her staff, Board, and Management in decision making in SEC, and questionable staff recruitment policies.

•That the Governor of the CBN, the Deputy Governors of the CBN, Directors of the CBN, the DG, SEC, Commissioners, Board members of both CBN and SEC should be subject to a code of conduct which has appropriate penalties for regulatory failures, while officials should be rewarded for outstanding performance.

my fellows nairalanders it seem to me that the way guys used this forum our Nigerians girls did not used nairaland like that, compared to other social site. how do you see it?

A security source has just told SaharaReporters of shooting in Dunga, in Tafawa Balewa area of Bauchi State, following the arrival of unknown gunmen who immediately started shooting.



Details are still sketchy, but gun shots were still being heard at the time of this report.

Only today, President Goodluck Jonathan ended the emergency he declared in 15 local council areas in four States last December. The Attorney-General of the Federation and Minister of Justice, Mr. Mohammed Adoke, said that local and state governments will now be responsible for the maintenance of security in those States: Plateau, Borno, Yobe, and Niger.

Last Wednesday, July 11, four persons were killed when unknown gunmen invaded Tafawa Balewa.

The Economic and Financial Crimes Commission (EFCC) yesterday arraigned the former chairman of the House of Representatives Committee on Capital Markets and Institutions, Hon Herman Hembe and his deputy, Emeka Azubuogu, for alleged diversion of fund.

They are facing a two-count charge of diversion of public funds slammed against them before a Federal Capital Territory (FCT) High Court.

Justice Sadiq Umar, at the last sitting, dismissed their preliminary objection to the charge.

The accused yesterday pleaded not guilty to the charge and the Judge granted them N1 million bail and with one surety in like sum each.

The sureties, according to the judge, must be resident in Abuja, while the Registrar of the court will verify compliance with the bail conditions.

Ruling on the oral bail application, Justice Sadiq held: “It is settled that bail is a constitutional right of an accused and the burden of denying accused persons bail lies with the constitution.

“The prosecution has not strictly led before me why the accused persons should not be granted bail…In my view, there is no justification for not allowing the accused persons to continue enjoying their administrative bail granted by the EFCC.

“I hereby grant the accused persons bail in the sum of N1 million each with two sureties in like sum; the sureties must be responsible citizens living in Abuja and that must be verified by the Registrar of the court.”

Prosecuting counsel, Jeff Ojeifu, prayed the court to disregard the administrative bail granted the accused by the EFCC and remand Hembe and Ifeanyi in prison custody. This was shortly after they pleaded “not guilty” to the charge.

He urged the court “to take judicial notice of the rampancy of corruption in the country and order for their remand”, saying, “the issue of presumption of innocence does not apply at this stage of the trial.”

Hembe’s counsel, Mr. Jibrin Okutepa (SAN) and that of Azubuogu, Chief Onyechi Ikpeazu (SAN), argued that the alleged offences are bailable.

Okutepa urged the court to take judicial notice of the fact that the EFCC has granted the accused persons administrative bail without any stringent conditions attached to it, having been convinced that they are responsible citizens and would not interfere with investigations.

The motion was brought pursuant to Sections 340 (1) of the Criminal Procedure Code (CPC) and Section 35 of the 1999 constitution (as amended), which presume an accused innocent until the contrary is proved.

He said: “This is a proper case for your Lordship to admit the accused persons to bail even suo motu and affirm that they should remain on bail on the same condition and terms they were allowed by the EFCC. EFCC’s prayer will be urging the court to persecute rather than prosecute and I urge the court to reject that.”

Adopting Okutepa’s argument, Ikpeazu urged the court to exercise bail discretion on the reasons that, “the nature of the offence before the court is bailable, the accused person is presumed innocent, the probability of the accused appearing for trial and the fact that there cannot be interference since investigation has been concluded.”

The EFCC called five witnesses yesterday.

The first Prosecution Witness (PW 1), who gave his name as Austin Adachi, a Senior Detective Superintendent with the EFCC, said investigation revealed that $4,095 was collected by each of the accused persons to attend a conference in Dominican Republic, which they did not attend.

He, however, added that, “available documents during investigation showed that the 1st accused person actually travelled” within the period.

Another witness, Usman Ibrahim, an Accounting Officer with SEC, told the court that the refund of unspent estacodes is not time-bound.

The two suspects allegedly converted to their own use $4095 each, about six hundred thousand Naira given to them by the SEC as traveling allowance to a conference in Dominican Republic in October, 2011.

The offence is contrary to section 308 of the Penal Code Act, Laws of the Federation of Nigeria, 2004.

The accused persons have filed a no case submission, which the court adjourned till October 8 for adoption.

sorry guys i mean assess.

how do you assess this three generals, who is more dangerous among the three?

do we call this police, see all others country poilce and compare with nigeria police

The Special Task Force (STF) has said Senator Gyang Dantong and Hon James Gyang Fulani died on Sunday following a stampede during which they slumped and could not be revived but they were not shot as was widely reported.

Commander of the Task Force, Major General Henry Ayoola who held a briefing around midnight of Sunday, said Rep Simon Davou Mwapkon who represents Barkin-Ladi/Riyom Federal Constituency in the House of Representatives who similarly slumped had been treated and discharged from hospital.

The STF Commander said, “Today (Sunday), at about 2.00pm during the burial of the diseased persons of Maseh Village, there was sporadic shooting from the range of the hills surrounding the area which led to a stampede, in the course of which three honourable legislators slumped and were rushed to the hospital.

“Unfortunately, Senator Gyang Dantong (Plateau North Senatorial District) and Hon James Gyang Fulani of the Plateau State House of Assembly died, while Hon Simon Mwapkon of the Federal House of Representatives survived and has been discharged.”

He said about 63 people had been confirmed dead following the incident that took place on Saturday, July 7, when “unknown gunmen attacked Kakuruk and about eight neighbouring villages in Barkin Ladi and Riyom local government areas.”

He said the search for the assailants was on and called on members of the public to volunteer any information that could help in unravelling the case.

He assured that the situation in the affected areas had been brought under control but advised residents where a partial curfew had been imposed to abide by it.

Plateau State Governor, Jonah Jang, placed a curfew on Jos North, Jos South, Barkin Ladi and Riyom local government areas where tension rose Sunday especially after it became known that Senator Gyang Dantong and Hon James Gyang Fulani had died.

source www.dailytrust.com.ng

After pocketing a princely N345.3 million and failing to supply petroleum products, Aig-Imoukhede is rewarded with appointments to probe himself and his accomplices.

Chairman of the special committee appointed by President Goodluck Jonathan to verify and reconcile the records of payments on fuel subsidy, Aigboje Aig-Imoukhuede, owns a company that received millions of Naira in subsidy payments for products it allegedly failed to deliver.

Detailed company searches by an Abuja-based non-governmental organisation (NGO), Youth Alliance Against Fuel Subsidy Removal, revealed that Mr. Aig-Imoukhuede, who is the Group Managing Director, Access Bank Plc, also owns Ice Energy Petroleum Trading Limited, which allegedly received $2,131,166.32 in hard currency (about N345.3 million) in 2011.

It is not clear whether the company delivered the product for which it was paid but the House committee believe it did not.

The defunct Farouk Lawan-led House of Representative Committee had, in its report, queried the company for receiving payment when no petroleum products were imported and supplied.

Ice Energy was one of the 45 companies invited to appear before the probe committee, but which failed to either honour the invitation or submit documents concerning their involvement in the monumental fraud that attended the subsidy scheme.

Findings by Youth Alliance at the Corporate Affairs Commission (CAC), and made available to PREMIUM TIMES, show that Mr. Aig-Imoukhuede heads the three-man board of Ice Energy, which has Iroche Chuks, as managing director, and Aikhionbare Sam, as member.

Asking Aig-Imoukhuede to probe self and accomplices

Following the shocking revelation in the report of the House of Representatives Committee that fuel subsidy payment, for which about N245billion was appropriated in the 2011 budget, had suddenly spiralled to over N2.6 trillion (over 2,200 per cent) as at December last year, the Minister of Finance and Coordinating Minister for the Economy, Ngozi Okonjo-Iweala, constituted a Technical Committee on review of Fuel Subsidy Payments, and appointed Mr. Aig-Imuokhuede as its head.

It is not clear if the ministry was aware of Mr. Aig-Imuokhuede’s involvement with Ice Energy before appointing him to the committee, which was mandated to verify, ascertain and reconcile discrepancies related to all subsidy arrears payments to petroleum products marketers.

Following the completion of the assignment, President Jonathan, apparently glossing over the indictment and complicity of Mr. Aig-Imuokhuede’s company in the fuel subsidy scandal, last Thursday re-appointed him to head another 15-man committee to further verify and reconcile all claims made in the report of the Technical Committee he led.

The president requested the new committee “to properly identify all cases of overpayments and/or irregular payments; to accurately identify all likely fraudulent cases for criminal investigations, and to review any other pertinent issues that may arise from its work and make appropriate recommendations.”

Mr. Jonathan’s decision to appoint the Access Bank’s MD to lead such an important committee, observers say, underlines the administration’s reluctance to act appropriately on the report of the House committee, which uncovered monumental fraud in the fuel subsidy regime.

When PREMIUM TIMES sought to know from the president’s spokesperson, Reuben Abati, whether the president was aware that Mr. Aig-Imokhuoede also benefited from the fuel subsidy payments he was asked to verify, his response was a question: "Are you sure?"

When our reporter answered in the affirmative, he continued, "If that is the case, the question to ask is: Is his company guilty of any wrongdoing?"

When he was asked whether that did not amount to asking the Access Bank’s managing director to probe himself over the scam, "Mr Abati said "No" pointing out that “it would only amount to asking an insider to do an inside investigation."

Mr. Abati, who promised to get more information, and revert to our reporter, never did by the time this report was published Monday morning.

Putting faces to ‘subsidy marketers’

Youth Alliance Against Fuel Subsidy Removal said it conducted the search on the indicted companies to “put a face to the indicted companies, to let Nigerians know exactly who took their money and then formed a cabal stronger than the government.”

Before announcing the removal of subsidy on petroleum products in January this year, one of the reasons President Jonathan gave was that a few Nigerians, who had since constituted themselves into a “cabal”, were enjoying the fuel subsidy largesse.

Up till last April, when the House of Representatives Committee released its probe report, the companies and individuals that benefited from the subsidy regime were largely unknown.

But extensive searches by the youth group at the CAC appear to have exposed some of the individuals behind the crook companies as well as the make-up of the faceless ‘cabal’.

“Mr Aig-Imuokhuede is not the only government apologist who belong to this ‘cabal”, a spokesperson for the group said in a statement at the weekend.

Like Aig-Imuokhuede like General Abdulsalami Abubakar

Other beneficiaries of the subsidy scheme revealed by the searches include former Head of State, Abdulsalami Abubakar, who owns Maizube Petroleum, which was listed in the House of Representatives report as one of the 45 companies fingered by the Federal Inland Revenue Service (FIRS) for benefitting from the subsidy payment but failing to pay tax.

Maizube Petroleum, which was invited to appear before the probe committee, never showed up to answer questions, though it sent documents.

The report also said Maizube Petroleum should be compelled to refund the about N5.51billion it collected as subsidy for millions of litres of petroleum products it claimed to have imported but which could not be verified.

The House probe report also indicted the company for discrepancies in volume claims and dates of discharge it claimed it made between 2010 and 2011.

The former head of state, widely celebrated as one who facilitated the birth of the current democracy after he voluntarily handed over power to former President Olusegun Obasanjo in 1999, sits on the Board of Maizube Petroleum with Abubakar Isa A, and Abubakar Aminu A.

Fola Adeola too

Another member of the cabal is the running mate to Nuhu Ribadu in the 2011 presidential election under the Action Congress of Nigeria platform, Fola Adeola, who is also the co-founder of Guaranty Trust Bank Plc

Mr. Adeola, according to CAC records, sits on the board of Eterna Oil Plc, listed in the subsidy report as one of the companies indicted for tax evasion.

After details emerged that Farouk Lawan, chairman of the House Subsidy Committee, received $620,000 bribe from oil marketer Femi Otedola to clear his company, Zenon Oil, Mr. Adeola campaigned vigorously that government should set the report aside.

“If the allegation is proven, the report is contaminated. Period! We need to get to grips with this” Mr Adeola tweeted on June 12 via his Twitter handle @tfolaadeola.

More details

Out of the 74 companies indicted in the report, only 48 were properly registered with the CAC.

source www.saharareporters.com

His capture mean nothing to me, KABIRU SOKOTO was capture what happen to him uptill now? NOTHING, ABU QAQA sss claim they capture him,do you hear anything about him again? NO. the guy that try to bomb radio house in abuja was capture, what do you hear of him till today? NOTHING. you see FG is behind BK, if not why are they not on trial? they all under the protection of FG. whoever is behind BK and their sponsor, God will punish them all. how can small group like BK can over the goverment of the whole country?.the FG never tell us the truth....... they know about BK.

The American government says there’s “massive, widespread, and pervasive corruption” at all levels of the Nigerian government and the security forces.
Just as the Goodluck Jonathan administration is facing mounting scrutiny at home over an illegal payment of N155 billion to cronies and associates of government officials on a presidential order, the United States of America has delivered a stringent critique of the government’s anti-graft effort.

In its latest report on global human rights released on Thursday by the State Department, the U.S. said the three tiers of the Nigerian government was ridden with “massive, widespread and pervasive corruption,” that failed to receive appropriate punitive response from the authorities.

“The law provides criminal penalties for official corruption; however, the government did not implement the law effectively, and officials frequently engaged in corrupt practices with impunity,” the report, submitted by Secretary of States, Hillary Clinton, to the U.S. Congress said.

“Massive, widespread, and pervasive corruption affected all levels of government and the security forces,” it continued.

The report is an X-ray of human rights abuses ranging from extrajudicial killings, arbitrary arrest and detention, free press abuses, to cases of graft worldwide. It comes as the Jonathan administration is being linked to a scandalous funneling of public funds to shady associates of officials, amid multiple cases of official corruption in the fuel subsidy and pension funds unearthed by the National Assembly.

The report also described the anti-corruption campaign under Farida Waziri-led EFCC as “largely ineffectual”. Mrs. Waziri was removed on November 23, 2011 by President Jonathan based on what the report says were “credible allegations” that she was engaged in corrupt practices.

2012 Batch A Corps Members...
RIP' THE DEAD WEEPS:
If you can't help it, try to take
your eyes off it but pls read
through this piece to the last
dot.What you are seeing in the
picture are burnt bodies of five of the 2012 Batch A Corps.
Members that had accident
three weeks ago, on their way
to Taraba State Orientation
camp at Ilesa/Akure Express
way. The spirits of these unfortunate corps members
are calling for attention,
unfortunately our
government turned deaf ear
to the agony of these lost
souls. 10 Corps Members posted to Taraba State were in the
bus, 5 were burnt to dealt
while 5 sustained serious
injury and presently
hospitalised. The dead have
been given a mass burial by the FRSC. I am sure you may
be thinking that NYSC or Govt
is taking responsibility
showing care for the dead and
those in hospital. If you share
that thought....you are wrong.I visited one of them at
Wesley Hospital, Ilesa, Osun
State over the weekend and
my heart bleeds for the
Nigeria. Our governments are
irresponsible. These guys are abandoned
there at the hospital. The
hospital, despite being a
federal hospital, the parents
are made to bear the huge
medical expenses. For your information, the accident was
caused by FRSC officers (Osun
Command) pursuing an Okada
man who ran into the express
way and caused
commotion. Neither the NYSC nor the FRSC is showing
concern for the treatment of
these guys. The parents were
left to bear their cross. Nobody
cares to know if the guys in
hospital are still alive or not. I was told an NYSC
official came from Taraba
when it happened and
promised to get back, but ever
since (three weeks now), no
one hears from either Taraba NYSC or Osun NYSC which is
the closest NYSC agent to
where they are hospitailised.
Just imagine the agony and
trauma in the homes of the
dead ones......The pains of the guys in hospital.....The
emotional shock by these
parents...... Are you thinking
what I am thinking? An injustice to one, is an
injustice to all.We must not
leave these parents to suffer in
vain.These are fresh graduates
going for National Youth
Service These are parents once happy
their children were going to
service their father land. Do
they deserve the neglect by
the government?If your
answer is NO..... If you are feeling what I am
feeling.....join to speak for the
voiceless.

2012 Batch A Corps Members...
RIP' THE DEAD WEEPS:
If you can't help it, try to take
your eyes off it but pls read
through this piece to the last
dot.What you are seeing in the
picture are burnt bodies of five of the 2012 Batch A Corps.
Members that had accident
three weeks ago, on their way
to Taraba State Orientation
camp at Ilesa/Akure Express
way. The spirits of these unfortunate corps members
are calling for attention,
unfortunately our
government turned deaf ear
to the agony of these lost
souls. 10 Corps Members posted to Taraba State were in the
bus, 5 were burnt to dealt
while 5 sustained serious
injury and presently
hospitalised. The dead have
been given a mass burial by the FRSC. I am sure you may
be thinking that NYSC or Govt
is taking responsibility
showing care for the dead and
those in hospital. If you share
that thought....you are wrong.I visited one of them at
Wesley Hospital, Ilesa, Osun
State over the weekend and
my heart bleeds for the
Nigeria. Our governments are
irresponsible. These guys are abandoned
there at the hospital. The
hospital, despite being a
federal hospital, the parents
are made to bear the huge
medical expenses. For your information, the accident was
caused by FRSC officers (Osun
Command) pursuing an Okada
man who ran into the express
way and caused
commotion. Neither the NYSC nor the FRSC is showing
concern for the treatment of
these guys. The parents were
left to bear their cross. Nobody
cares to know if the guys in
hospital are still alive or not. I was told an NYSC
official came from Taraba
when it happened and
promised to get back, but ever
since (three weeks now), no
one hears from either Taraba NYSC or Osun NYSC which is
the closest NYSC agent to
where they are hospitailised.
Just imagine the agony and
trauma in the homes of the
dead ones......The pains of the guys in hospital.....The
emotional shock by these
parents...... Are you thinking
what I am thinking? An injustice to one, is an
injustice to all.We must not
leave these parents to suffer in
vain.These are fresh graduates
going for National Youth
Service These are parents once happy
their children were going to
service their father land. Do
they deserve the neglect by
the government?If your
answer is NO..... If you are feeling what I am
feeling.....join to speak for the
voiceless Kindly click on like