₦airaland Forum

Peaceful but radical

Yeske2:
Old pix, next please

Old pix Propaganda not reigning again, try better

BREAKING! Soldiers Retreat as Angry Biafra Protesters Barricade Onitsha Head Bridge(Photos)
6th November 2015

BREAKING!!! Biafra: Soldiers Retreat as Angry Protesters Barricade Onitsha Head Bridge (See Photos+Video)Biafra Osha
Report just coming in according to eyewitnesses is that Youths have taken over the Onitsha head Bridge as we speak now. The Nigeria soldiers seems to have retreated for possible regrouping . The mass and Velocity of the protest took them a little unaware

http://www.igberetvnews.com/?p=23128

There is credible information that Buhari and Nigeria will face ICC soonest...

The indigenous people of Biafra have retained Dutch lawyer, Prof. Dr. Göran Sluiter. He has been instructed to file a criminal complaint against Nigerian President Buhari before the International Criminal Court (ICC), on account of crimes against humanity.

The people of Biafra, living in the South of Nigeria, have been trying to exercise their right to self-determination for decades now. They have been systematically oppressed by the Nigerian government and have suffered serious human rights violations, amounting to crimes against humanity. With the election of new Nigerian President Buhari, violence and crimes committed against the people of Biafra have intensified. This is exemplified by the recent unlawful arrest and detention of Biafra’s leader, mr. Nnamdi Kanu, since 14 October 2015.

Prof. Dr. Sluiter is convinced that there is more than enough evidence to have the ICC Prosecutor conclude that the people of Biafra are the victim of crimes within the jurisdiction of the ICC and that President Buhari plays an essential role in these crimes. He also points out that the situation in Nigeria –including other crimes committed by Buhari, namely the electoral violence of 2011- has been under preliminary examination of the ICC for some time now and that the moment has come for the Prosecutor of the ICC to launch a full criminal investigation.

The criminal complaint will be finalized on short notice and will –in the interests of justice and transparency- be made available to the public.

http://ireport.cnn.com/docs/DOC-1280926

When are they paying

 November 3, 2015


“The truth is incontrovertible. Malice may attack it, ignorance may deride it but in the end, there it is” – Sir Winston Churchill, the Prime Minister of Great Britain (1940-1945 and 1951-1955).



Nothing empowers the spirit more than the truth. Nothing warms the soul more than the truth. Nothing dispels the darkness more than the truth. Nothing emboldens the noble more than the truth. Nothing sheds the light more than the truth. Nothing enlightens the ignorant more than the truth. Nothing frees the enslaved more than the truth. Nothing liberates the mind more than the truth.




Nothing purges the evil more than the truth. Nothing hurts the vile more than the truth. Nothing troubles the murderous more than the truth. Nothing exposes the reprobate more than the truth. Nothing burns the slanderer more than the truth.



Nothing chains the liar more than the truth. Nothing heals the wounded more than the truth. Nothing brings the peace more than the truth. Nothing torments the oppressor more than the truth. Nothing haunts the wicked more than the truth. Nothing punishes the tyrant more than the truth. Nothing humiliates the proud more than the truth. Nothing restores our hope more than the truth. Nothing serves justice more than the truth. Nothing delivers the captive more than the truth. As Churchill said, ‘’the truth is incontrovertible’’. It is overwhelming and it is irresistable. It is powerful and it is beautiful.



It cannot be destroyed. It cannot be denied. It cannot be suppressed. It is eternal. It will always be revealed at the appointed time. It may be ignored for a season but it will eventually resurface to torment the deceiver.



With truth comes the opportunity to repent and to forgive. With truth comes justice, healing, peace, love, restoration, reconciliation, reparation, redemption and the chance for new beginnings. Without truth there can be none of these blessings or virtues: only darkness, deceit, ugliness, suspicion, hate, carnage, violence and the enthronement and celebration of bitter and wretched souls. Without truth evil goes from strength to strength. Without truth the wicked crush innocent souls. Without truth the oppressor continues to thrive and flourish but with truth the righteous rise and reach the top. Without truth nations wither and perish but with truth they prosper and excel.



Yet what truth resides in our beleagured country? A country that feeds fat on lies and revels in deceit. A country that refuses to teach its children our history in order to cover up the many wrongs and injustices of the past. A country whose elders refer to the oppressed and dissolusioned as desperate ”miscreants”. A country whose leaders refer to those that seek to enforce their legitimate rights as ”money-loving drug dealers and skillful scammers”.





A country that cannot make a distinction between those that seek to peacefully exercise their right of self-determination and those that terrorise, kill and maim others in an attempt to impose their faith. There are many truths that the Nigerian people will have to come to terms with before our nation can be at peace with itself.




An ocean of blood has been shed in the name of a united Nigeria yet the perpetrators of state-sponsored violence have never been brought to book. Many souls have been wasted in trying to keep us one. How much more blood has to flow before those that have ruled us from time immemorial accept the fact that nations cannot be established by subjugation and tyranny but only by justice, equity, truth, equal rights and consensus.




The truth of the Jos massacre in 1945 where hundreds were slaughtered cannot be denied. The truth of the Kano riots in 1953 where thousands were butchered cannot be denied. The truth of the pogroms in the north in 1966 where hundreds of thousands were killed cannot be denied. The truth of the slaughter of millions of innocent civilians, women and children between 1967 and 1969 during the Nigerian civil war cannot be denied.


The truth of the Asaba masssacre in 1969 where 1000 little boys and old men were rounded up in the town square and shot in the head cannot be denied.

The truth of the massacre of hundreds of thousands of Christians and ethnic minorities all over the north and particularly in the Middle Belt throughout the 80’s and 90’s cannot be denied. The truth of political sharia with its attendant violence, trauma, blood-letting and butchery from 2000-2003 in the far north cannot be denied.




The bitter truth of Boko Haram and the relentless slaughter of hundreds of thousands of innocent Nigerians by Islamic fundamentalists in northern Nigeria from 2009 up until today cannot be denied. The truth of the murder of dozens of young youth corpers and hundreds of other people in the far north in 2011 cannot be denied. The truth of the brutal slaughter of innocent Nigerians by Fulani herdsmen over the last 20 years and up until today cannot be denied. O Nigerians, who has bewitched thee? Why do we hate truth and those that speak it with such passion? Like the ostrich, we have buried our heads in the sand and we act as if these things never happened. We refuse to acknowledge the evil within us and we refuse to honor the dead by atoning for our sins and calling for retribution and justice.





These horrendous events cannot be denied and neither shall they ever be forgotten. The blood of the innocents that were slaughtered by these relentless Huns speaks through the ages and from generation to generation. That blood cries out to God in heaven and it calls for vengeance. It is time for justice to be done. It is time for those that consistently kill and shed blood in their ignoble quest to rule us forever to be brought to book. It is time for the Tutsis of Nigeria to be brought to heel. It is time for those that starved millions of little children to death in the name of crushing Biafra to be exposed.




It is time that those who seek to play down these events and who seek to cover up their complicity in genocide be called out and shamed. It is time that some of our elders and so-called leaders are sent to the International Criminal Court for genocide and murder and for crimes against humanity. It is time to rediscover our humanity. It is time for the ancient leaders and guardians of the Nigerian state to admit that they have built our so-called unity on nothing but murder, carnage and the blood, guts and bones of millions of slaughtered innocents.



It is time for them to apologies to the Nigerian people for their insufferable conspiracy of silence and their insatiable greed. It is time for them to tell the truth about our blood-soaked and frightful history, to confess their sins, to kneel down before the Ancient of Days and to beg Him for forgiveness. It is time for them to start fearing the Lord of Hosts, to stop hating the messenger and to start dealing with the message.





Femi Fani-Kayode

http://pointblanknews.com/pbn/articles-opinions/oceans-of-blood-and-the-power-of-truth/

Sai BBAABBBAA

NIGERIA is tightening rules against investors in a move analysts say is evidence of a government struggling to cope with fiscal pressures in the face of plunging oil prices, creating more unpredictability for Africa’s biggest economy.

MTN Group Ltd. was fined $5.2 billion by Nigeria’s telecommunications regulator last week, more than 20% of the mobile-phone company’s market value, for failing to comply with an order to disconnect customers with unregistered phone cards.

In the same week, regulators also imposed big fines on Standard Bank Group Ltd.’s Nigerian unit, United Bank for Africa Plc and First Bank of Nigeria Ltd.

“It’s worrying, the bank fines, the telecommunication fines,” Clement Nwankwo, executive director of the Policy and Legal Advocacy Centre, said by phone on Monday from Abuja, the capital. “I don’t get the sense what the economic direction is. If Nigeria is broke and agencies are fining companies to make up for the shortfall in oil revenues then that is something that we should be worried about.”

Nigeria has no finance minister or clear economic policy five months after President Muhammadu Buhari took office on pledges to combat corruption, end an insurgency by Boko Haram militants and bolster the economy.

He has had to do that with dwindling resources after oil prices fell 55% since June last year. Nigeria is Africa’s biggest crude producer, with oil making up more than two-thirds of government income.

MTN slump

“The fiscal headwinds facing Nigeria has resulted in an increasingly assertive regulatory regime in Nigeria,” Martyn Davies, managing director of emerging markets and Africa at Deloitte & Touche in Johannesburg, said in an e-mailed reply to questions. “These fiscal pressures are resulting in greater pressure on companies, local but particularly multinational, to comply.”

MTN shares have slumped 22% since Oct. 26, when the company said it’s facing a fine. Trading in the stock was halted temporarily in Johannesburg on Monday after earlier dropping as much as 9.7%. It resumed after the company published a statement confirming it’s still in talks with the Nigerian Communications Commission on resolving the matter.

Tony Ojobo, a spokesman for the NCC, said on Oct. 29 that investors are required to comply with the rules or face penalties. He said on Monday that there’s no update to be disclosed on the MTN fine.

Femi Adesina, a spokesman for Buhari, said by phone the MTN penalty is not a matter for the Nigerian presidency, referring queries to the NCC.

The penalties signal “that the new government is serious about compliance, which, over the medium term, should be beneficial for business,” Cobus de Hart, an analyst at NKC Independent Economists, said by phone from Paarl, near Cape Town. “However, given the understandably fickle investor sentiment currently in the country, being too strict too quickly will adversely affect the business environment and investors may become even more anxious.”

Investor confidence has slowly eroded this year. In September, JPMorgan Chase & Co. said it will remove Nigeria from its emerging-market bond indexes, as foreign-exchange restrictions imposed by the central bank to help stabilize the naira and reserves caused liquidity to dry up. Buhari has backed the central bank’s currency controls even though it’s hurting importers and growth in an economy that expanded at its slowest pace this decade, at 2.4%, in the second quarter.

Buhari is yet to disclose the portfolios of his 36 cabinet nominees, who were all approved by the Senate last week during confirmation hearings.

“Certainly it is important that the regulatory agencies are active and taking action against companies that violate the rules of business,” Nwankwo said. “But it is always useful that this be done in the context of a national economic policy.”

-Bloomberg


http://mgafrica.com/article/2015-11-02-nigeria-broke-and-buhari-using-mega-fines-on-mtn-banks-to-raise-money-analysts-think-so-and-that-worries-them

Buhari is still using video cassette VHS and black and white TV

Archival man

Sai bbaabbaa

People still de believe AAPPCC people

buja - The Biafra Nations Youth League, a pressure group, has warned of possible conflict if the federal government does not accede to demands for the independence of the region.

The warning comes amid renewed calls for autonomy.

“We makes it clear to the world that we are not at war with Nigeria, neither are we fighting (President Muhammadu) Buhari, all we want is Biafra Independence from Nigeria, it will only lead to conflict if Buhari doesn't stay clear of our agitation,” said the organisation’s Deputy Leader, Eyam Esung, on Friday.

Esung argued the Biafran struggle for independence should not be equated with that of Boko Haram jihadist in the North.

“We are Biafran activists. Bko Haram are terrorists even though they are no longer addressed as terrorists ever since Buhari wrestled power from (ex-President Goodluck) Jonathan. We want to make it clear that our struggle is in accordance with international law hence we are non-violent and any breach of our fundamental human rights will lead to aggression.”

Esung expressed solidarity with all ethnic groups of Biafran origin.


“Our agitation for Biafra Independence is for the best interest of all our people,” said the official.

“We have the support of our people from various ethnic groups, including the displaced Bakassi natives abandoned by the government, we have reached out to other areas in the Bight of Biafra such as Southern Cameroon etc to strengthen the struggle.”

Esung said the recent heavy-handedness approached by police protests demanding independence did not deter the group.

“We want to make it clear to Nigeria Government that no amount of arrest will hinder us from the struggle for liberation.”

Biafra, officially the Republic of Biafra, was a secessionist state in south eastern Nigeria, existing from 1967 to 1970 when it was re-integrated into Nigeria.

Some organisations are advocating for a separate country for the dominant Igbo people in Southeastern Nigeria, accusing the government of marginalising them.

- CAJ News

http://www.news24.com.ng/National/News/Biafra-independence-call-a-source-of-conflict-20151030

Our own...

how far on this ...

So how is it going ...

The police recently began a clampdown on the members of IPOB, disrupting their meetings. In this interview with Oriental News, Uzoatu warned the police over their actions against IPOB, saying that if they do not desist from it they may harden the movement to becoming a violent group.


The incessant attack and harassment of the members of the Indigenous People of Biafra (IPOB) and Movement for the Actualization of the Sovereign State of Biafra (MASSOB) will force them to pick up arms which is very dangerous.


http://www.thebiafraherald.co/2015/11/police-clampdown-will-harden-ipob-to.html?utm_source=twitterfeed&utm_medium=twitter

President Muhammadu Buhari has urged those who perpetrate violence and destruction in the name of Islam all over the world to desist from tarnishing the name of the religion.
In his message to Muslims Thursday as they started the 2015 Ramadan fast, the president called on Nigerians to pray for peace, love and prosperity throughout the country.
In a congratulatory message released on his behalf by the Senior Special Assistant (Media and Publicity), Garba Shehu, President Buhari implored Muslims to seek maximum benefits from the Ramadan period “by being helpful to all manner of people, learning and following the true message of the religion as taught by the Holy Prophet”.
The president in his message directed an appeal to the perpetrators of violence and destruction in the name of Islam all over the world to desist from tarnishing the name of the religion.
“As we make collective efforts to bring to a permanent end the menace of the Boko Haram in the Lake Chad basin countries, let me use this auspicious occasion to appeal to our misguided brothers to drop their arms, embrace peace and seek a better understanding of Islam during this Holy period and beyond,” Mr. Buhari said.
The president prayed to God to bring peace and harmony to all parts of the country and the world at large.

49 years of struggle and deaths

BY CHIDI OBINECHE

The smouldering agita­tion for self determi­nation by some groups and individuals in the South-east geo-political zone of Nigeria as expressed in the rebirth of Biafra has of recent assumed varying definitions and stakes. From a shrill level of stillness after a rejuvenated crescendo some 16 odd years ago, the recent arrest of Nnamdi Kanu, an arrowhead in the struggle and director of the pirate Radio Biafra on October 19, 2015, has given more impetus to the struggle.

The upsurge in the restiveness since May 29 this year when the new regime of President Muhammadu Buhari was sworn in was ignited by perceived lopsidedness in the initial key appointments he made, and dec­larations he made in far away United States of America that those who did not vote for him in the elections should not expect to profit where they did not sow. The statement took the heartlands of the South-east by storm and was interpreted as a veiled reference to them who through their votes thumbed a resounding no to his presidential quest over the years. In the new offensive, about 71 deaths have been recorded and scores de­tained by agents of the government.

Indeed, the National Director of Information of The Movement for the Actualization of the Sovereign State of Biafra, MASSOB, Mr. Uchenna Madu recently alleged extra judicial killings of some of their detained members in Ebonyi state. The high casualty figures of the agitators who adopted passive resis­tance over the years have implanted a consciousness of recklessness and deeper significance of their struggle and its meaning to them. They are telling the rest of the world in para­bles and acts that their lives are less important than the meaning of their lives. They are so seized with this symbolic fervor, and intoxicated with their xenophobic dream that they are willing to view themselves as a sacri­fice to history. Canadian writer Betty Nickerson, in her work “Letters from Biafra aptly captures this propelling force this way: “Biafra is more than a government, or place; it is an idea about freedom. To fight for it, perhaps to live for it, if one is lucky, is our consuming passion”.

For 49 years, blood has been spilled over this. An estimated three million people perished in the fratri­cidal, civil war that lasted 30 months between May 30, 1967 and January 12, 1970. Since then, more than 2,338 people have lost their lives in various Biafran related uprisings. In 2014, in what clearly looked like a suicide mission, some activists of the Biafran Zionist Movement, BZM attempted to seize a government owned radio station in Enugu and the Government House Enugu, killing a policeman in the process. They were rounded up and put in detention since then. As the orgy of bloodletting and clampdown continues, there is nothing yet to suggest a cessation of hostilities. The frontiers of protest are expanding, the fault lines are deepen­ing. From a campaign spearheaded mainly by semi-literate youths with mob hysteria often described as “misguided”, it is spreading like wild fire embracing the intelligentsia, the new rich, and de crème de la crème of the Igbo society. The political class, who in deference to their political interests within the Nigerian context has always donned indif­ference and kept the struggle and their moving spirits at arm’s length, is gradually beginning to capitulate. With blood in their eyes, and as the agents of government bay for their blood, the power of their resolve and clarity of intent resonate and rankle in their souls. Fresh campaign thrusts are unfolding by the day, while more groups are sprouting. From just MASSOB in 1999, it has expanded to include Indigenous People of Biafra led by Nnamdi Kanu, Biafran Actualization Forum, BAF, Biafran Zionist Movement, BZM, Biafra Na­tional Congress, BNC, and a splinter faction of MASSOB.

Interestingly, the Igbos in the Dias­pora have shown more than a passing interest in the struggle. Sunday Sun learnt that they form the nucleus of the struggle, providing a huge chunk of the funds and other logistics. They are also actively involved in external propaganda and diplomatic engage­ments. The sophistication has also twined to other areas. On July 17, Kanu lauched another radio station in London, promising to bring on 50 others in two phases in the next 18 months. According to Sunday Sun checks, another station called ‘Biafra 24 radio’ has hit the air waves push­ing the same message of ‘Freedom of Biafraland’. Plans are also afoot to float a satellite television station abroad. The location could not be ascertained as at press time.

On July 14 this year, the Permanent Secre­tary of the Federal Ministry of Information, Dr Sade Yemi- Esan declared that Radio Biafra had been successfully jammed and the technical masterminds arrested. The station, however, is still broadcasting on the World Wide Web mak­ing it impossible to block its broadcasts. The ar­rest of Kanu on October 19, 2015 has accentuat­ed the frenzy and acidity of the broadcasts. They have also stepped up diplomatic offensives on all fronts which have led to some western governments issuing statements to demand his release. An Embassy of Biafra has been opened in Victoria, Spain. “It is another milestone in our drive towards Biafra’s restoration” said a radio broadcast from London monitored in Lagos by Sunday Sun. The Embassy set up by IPOB was opened on Saturday, February 28. In a prayer at the event, Mazi Nnamdi Kanu said: “We, your children are gathered here in Victoria Basque country O Lord of Hosts, to do that which you have divinely mandated us to do. Today here in Northern Spain we open yet another chapter in this relentless effort to restore your kingdom upon the face of this earth. For the journey mercies you have granted us from all over the world here gathered, we remain eternally grateful. From all over the world we have come to establish a firm base in this land from where your will must be done. This year belongs to us Biafrans because in the end, all glory and honour will be yours and yours alone. Iseee!” An elated Kanu also expressed gratitude to God for the success of the event on his Facebook page:“To the most gracious almighty Chukwu Abhiama do we owe all that we are for this journey mercy granted to all hard core Biafrans that attended IPOB mission opening ceremony in Victoria Basque Country in Spain. Magnificent and merciful creator of the universe, even if we worship you from now till eternity, we still will not be able to repay you for the grace you have shown us, Indigenous People of Biafra for guiding us back to our re­spective destinations. For those we left behind, please guide them to their families in safety that in the end as always, all honour and glory will be yours and yours alone, because only you is worthy of praise. Your children have asked me to come to Amsterdam Netherlands from where your redeeming gospel of restoration will be preached tonight to the hearing of humanity. Abide with us Heavenly Father as you have al­ways done for we are nothing without you. This family here shall find peace as they all desire that indeed your kingdom, Biafra may come on this earth as it is in heaven…..Iseee!”

What is Biafra?

There are several postulations as to the origins of the word ‘bight’ as in bight of Biafra. One account de­scribes it as a cartographic indication for the word “exit”. It explains that it is a body of water that serves as a particular exit from the international shipping lanes to a brighter station – a long curve in a coastline. A bay is formed by this curve. Passenger voyages were the only means of in­ternational travel for most of human history, and they were done through one of these bights to international trans – Atlantic water lanes. Another meaning of Biafra relates to “Bia”, the Igbo word for “Come”. The word, according to Encyclopaedia Britannica likely derives from Biafar or Biafada of the Tenda ethnic group who reside mainly in Guinea Bissau. Manuel Alvares (1526- 1583) a Portuguese Jesuit educator in his work “ Ethiopia minor and a geographical account of the province of Sierra Leone”, writes about the “ Biafar Heathen” in chapter 13 of the same book. The word Biafar, an adaptation of Biafra appears to be a commonly used word in the Portu­guese language in the 16th century. Early modern maps of Africa from the 15th to the 19th century drawn by European cartographers from accounts written by explorers and travelers also reveal this information. The original word used then was Biafara , and not Biafra. According to the maps, the European travelers used the word, “Biafara” to describe the entire region east of River Niger going down to the mount Camer­ouns. The word Biafara also appears on maps from the 18th century in the area around Gambia. On a closer linguistic level, Biafra is from the Igbo words “Bia”, meaning come and “Fara” meaning join.

The agenda

Former president of the pan – Igbo socio cultural organization, Ohanaeze, late Chief Ralph Uwae­chue in a very testy mood in 2009 raised the alarm that “ Igbo margin­alization can break up Nigeria”. He was speaking against the backdrop of the demand for redress in the imbalance in the federal setup which he said was skewed heavily against the Igbos. Successive gov­ernments since the end of the civil war have merely paid lip service to the slogan of “ Reconstruction, Rehabilitation and Reconciliation” enunciated by the then military government, according to him. He viewed the development as a time bomb, and cautioned political leaders to tread with caution in their utterances. Before then, the late Senator Francis Ellah had observed that the oft-repeated “Nigerian question” is merely the inability of the Nigerian nation to accom­modate the Igbo unconditionally. The late novelist , Chinua Achebe highlighted the brewing cauldron in his “ The trouble with Nigeria.” He postulated that so long as injus­tice continues to be the guiding principles in the co-existence of the different ethnic groups within the national framework, so long will there be unease in the land. Apart from the clamour for full and unfettered accommodation, there is also the sinew of mistrust. Igbo el­ders who are opposed to secession have unsuccessfully been working quietly behind the lines to forge a mutually beneficial structure by pushing forward forcefully the Igbo agenda each time there was a Na­tional Conference. The agenda had on three different occasions been diffused and subtly rejected. Faced with frustration and weighed down by the defeat in the civil war, the casual protest lane has been adopt­ed with unprecedented bloodletting. The Reparation Committee of the Ohanaeze Ndigbo, in a 28-page document entitled: “Atrocities and Injustices against Ndigbo,” set out a list of demands and submitted them to President Goodluck Jonathan in 2014.

It reads in part: “The Federal Government should pay 400 billion naira each to the five states of the South East as compensation to those who lost loved ones, lost properties, and those still suffering dislocation today in Nigeria.

Compensation would be made to those Igbos who escaped during the pogroms and war and returned to find their jobs taken, their proper­ties and houses occupied and their Biafran money worthless.

The group also asked the Federal Government to invest in a massive re-planning of Igbo cities with proper structures such as provision of urban water works, a sort of Marshall Plan often devised for war-ravaged area. The demand , just as many others be­fore it never saw the light of the day. In the grip of the grim situation, the cry for Biafra has become the calm­ing balm, which like in the scriptures is the promised land for them.


http://sunnewsonline.com/new/biafra-blood-in-their-eyes/

A liquidity stress test conducted by the Central Bank of Nigeria (CBN) has revealed that capital position of ‘three small banks’ have fallen below regulatory capital requirement.

The test, contained in the CBN Financial Stability Report released yesterday, showed the Capital Adequacy Ratios (CARs) of the affected banks were below five per cent regulatory threshold.

The three banks are not among the domestic systemically important banks (D-SIBs), it said.

The report, which measured the lenders’ positions as at June this year, showed that the number of banks with CAR less than five per cent also increased from zero to three from December 31, 2014 to June 30, 2015. The CAR is a ratio of a bank’s assets to its risks

According to CBN’s Director, Financial Policy and Regulation Department, Kelvin Amugo, the liquidity stress test was conducted using the Implied Cash Flow Analysis (ICFA) and the Maturity Mismatch/Rollover Risk approaches to assess the resilience of the banking industry to liquidity and funding shocks.

He said the ICFA approach assessed the ability of the banking system to withstand unanticipated substantial withdrawal of deposits, as well as short-term wholesale and long-term funding over a 5-day and cumulative 30-day periods, with specific assumptions on the fire sale of assets.

The report said liquidity ratio (LR) of the Nigerian banking industry decreased by 6.5 percentage points to 39.3 per cent from the 45.8 per cent December 2014 position. The decline in the LR position was driven mainly by the large and medium banks with 6.5 and 7.4 percentage points decrease respectively from their December 2014 LR position to 36.9 per cent and 45.5 per cent respectively. This decline may be traced to the sustained tight monetary policy stance of the CBN.

The test results revealed that the industry liquidity ratio declined to 9.30 and 6.10 per cent, from 39.3 per cent baseline position after the five-day and cumulative 30-day shocks, respectively. The result of the stress tests indicated potential vulnerability to liquidity risk in the event that these scenarios crystallized.

“Overall, there was an improvement in the baseline CAR of the Nigerian banking industry at end-June 2014 compared to the December 2014 position. The baseline CAR rose by 0.23 percentage point over the December 2014 position to 17.38 per cent at end-June 2015. This was driven mainly by improvements in the baseline CAR of the large banks which rose by 1.03 percentage points over their December 2014 position to 18.56 per cent at end-June 2015,” the report said.

“Equally, the number of banks with CAR greater than the 15 per cent prudential hurdle rate for international banks increased from 13 at end-December 2014 to 16 at end-June 2015. However, the number of banks with CAR less than five per cent also increased from zero to three over the period”.

Commenting on the report, CBN Governor, Godwin Emefiele, said it captures the headwinds remain, given that oil exports from Iran and lower global demand will further dampen oil prices, thus portending continued decline in oil revenue accruing to Nigeria.


http://thenationonlineng.net/three-small-banks-in-danger-says-cbn-after-stress-test/

The game is this

Glo - South W
Eti - North
MTN - SSE

More Pictures coming ....


The Independent People of Biafra (IPOB), the separatist group started by Nnamdi Kanu, are planning a protest on
Monday 26 October (TODAY) at the Nigerian High Commission in London against their founder’s arrest in Nigeria on
17 October.

The demonstration is expected to last from 12 noon to 4pm and the group has asked “all zonal coordinators should as a matter of urgency start making necessary preparations”.

A source has informed us that part of those preparations involved draping the Biafran flag over the front of the Nigerian High Commission building.There also plans to beat up High Commission officials.

Just remember, you can do anything you set your mind to, but it takes action, perseverance, and facing your fears.

Gillian Anderson

Nigeria must Obey

It is called honour. Biafra do not pay terrorists/Kidnappers.

But Nnamdi Kanu shall be released