₦airaland Forum

benzion72:
LASU part time is a fruad and they speicalised in producung the worst cropof graduate in Nigeria. I do ask them a question which all of them never seems to understand. Ask any of them who is there their Deen Dean and HOD some will tell you is Mallam Sanni. I have never seen any school whose Deen Dean is a mallam and not Doctor or aProfessor

Deen is arabic word for religion, so they are correct in relating it to mallam sanni

sorry, I couldnt help correcting some fundamental errors there to make for easy comprehension. Other typos excepted.

koruji:
I am afraid for Nigerians with the way we eat up all kinds of things fed to us by these people.

Are you telling me that investors simply gave money to this bank since 2003/2006 without any returns?

They did not ask for any returns and didn't pull out their funds all the way till 2011? Don't you wonder what the source of that kind of money was, sitting without returns for so long? The way I understand it, returns are paid to investors at regular intervals - but these returns were accumulating for up to 8 years?

There is a lot more than meets the eyes here.

koruji. To be frank, I too bought some shares in it in 2003 and have some of my colleagues who bought substantially in both 2003 PO and 2006 PP. We knew they were still pursuing licence, so could not reasonably expect return.

I invested in it purely for economic reason nothing religious. Same way I invested in Transcorp among others since 2006 and no return till today.

It is a risk you take when you invest in stocks. Some have given me excess returns while few gave many unhappy returns.

In 2003, jaiz international plc (not yet converted to bank then) did public offer of N2.5b which was oversubscibed by 20%. In 2004, it applied for banking licence when Joseph Sanusi was still the cbn governor and capital requirement was N2b.  Soludo took over and jerked up capital to N25b so its application lapsed. It started an open date private placement in 2006 for N10b out of which it had so far raised almost N4b in addition to the ealier N3b.

Now that its capital requirement has been reduced to N10b (or is it N5b), it may drop its plan for public offer of N13b

The 'profit' came from interest on the deposit of the capital proceeds with commercial banks.

I have tried to answer where the profit came from when it is yet to start operation. The question of why the sudden realisation that the interest is haram (sinful) now or why not just tell the banks to keep the interest and return only the principal? Search me.

Beaf:
Dude, even God has angels. Aregbesola's belief thinks he can govern Osun state single-handedly points to serious personality issues. You thoughts about the importance of a cabinet couldn't be more far off. The article says that the justice system in the state has quivered and died, because there is no Chief Justice:

It is the duty of National Judicial Commission to recommend persons for appointment as Chief Judge to the Governor. Existence or otherwise of a cabinet has nothing to do with that. In any case, Osun state has a Chief Judge.


The man also claimed that the oba who is standing trial in court for r.ape of a youth corper could not secure bail because there is no attorney general to approve his bail. Hell no. It is the court that is trying him that can grant bail not attorney-general.

Both of you need to get your facts right

Why does the 'north' still think it can decide how political pendulum swings in nigeria after being trounced in the last election? GEJ can still use the same method to win in the next election. The worst that will happen is to have another 'buharistan' (far north) like in the last general elections

and directed the former CSO to read the content of his statement made to the SIP on October 13, 1999 in open court.


. . . . . . . . . . .


“I have never tasted beer in my life, I have never smoked and I have never taken drugs, so for one to say something is wrong with my memory that I cannot recall an officer who was in Libya and here I am writing that he is in Nigeria, that is absurd. It must be investigated, the whole game plan was that of the SIP directing the prosecution to convict us at all cost and coordinated by Chief Bola Ige , the then AGF. I have the document and we tendered it in 2002 before Justice Ade Alabi.

In 1999, Bola Ige was not the AGF, he was minister of power. He became the AGF in mid-2000 after he was transferred following the first nationwide electricity power collapse.

Mustapha needs to refresh his memory asap possibly by guzzling beer not just tasting it

Odunnu:
Why cant people just cut their coats according to their sizes?
1stly let that your friend pack outta that 27k a month apartment, thats just too exorbitant.

N324,000 per annum rented house is too exorbitant for a qualified engineer with a family?

How is this approach sustainable? They have been going from one state capital to another selling only for a day. What of people outside the capitals? How many people living in the capital can be served in a day most part of which is taken up by speech-making? What happen when the successful buyer exhaust the quantity they bought?

Reminds me of "essenco queue" in the mid-80s during buhari era

obiflex:
as a lawyer i think what the govt has done is wrong and without any basis in nigerian law.
Yes the cbn has power to revoke banking licences but the company that previously owned the licence does not cease to exist until it is liquidated.

Now, the assets of bank phb still belong to the company. The govt cannot assume ownership of those assets just like that. The NASS MUST PASS A  LAW EMPOWERING govt to nationalise the assets of the company. In the absence of this the govt must buy up the companies b4 taking ownership. I expect the shareholders to go to court and i foresee a verdict similar to that of savannah bank. This case is also similar to the Sanusi bailout mess in which the cbn gave out a whopping #600billion without appropriation. It was illegal but he escaped because this is nigeria. In any law abiding nation he should be in jail. Only in nigeria do ppl run a nation without lawshould be in jail. Only in nigeria do ppl run a nation without laws

Verdict according to Justice klas

Lawyer, the N3 were acquired by ndic on friday for which ndic paid one naira each. This is covered by the ndic act
It then set up the bridge banks the same day and sold them off to amcon on saturday
amcon paid N679b on sunday by bonds thus amcon became their shareholders.
Effective saturday, those new banks are no longer bridge banks but full fledged banks.
Bridge banks arrangement lasted for less than 24 hours.

Amcon as the full fledged owner has the right to determine if and when it wants to sell to other investors to exit the holdings

Objection overuled.

Cooooooourt!!!!!!

MJ should just do traditional wedding. Shikena. Marriage causes act wont apply to that.

naijaspeak:
Sad to hear in the news media that Sam Loco Efe is dead. However, I want to say that Sam Loco did not do much to promote the movie industry of his own people the urhobo people and perhaps delta state. He spent all his life time promoting films of easteners. Many deltans want to see him come to delta state and identify with the state. Get a lot of urhobo boys and girls into the film industry. Sam loco fail to do this even though he is in a good position to develop the film industry of delta state.o

Most of the film Sam Loco acted was only promoting ibo culture and most of his tribes men especially the average urbobo man would have love to see him support urbobo culture and film. But he failed to do this.

Take for example, Justus Esiri ( an urhobo man ) promoted the film industry in the Niger delta and also supported niger delta development struggle for self determination and development. But I do not see Sam Loco do all this.

So I will say that that detal state did not benefit much from Sam Loco professionalism as far as movie making and the movie industry is concerned.[b][/b]

In post #48 above, the man claimed to hail from Udeni in Edo state but grew up in Abakaliki in Ebonyi state. Where do the Urhobos of Delta state fit into the equation?

^^^ He just woke up and needed to fulfil the promise he made to himself last night to increase the number of his postings this morning.

The problem is how will she convince the man that the child is the product of the violation. If she could hide the existence of the child b4 and after wedding, why should the man accept her story now.

Furthermore, Was the husband aware of her identity as his victim prior to their marriage? It is one thing gor the man to recall rap!ng someone while in school, it is another thing positively identifying the woman as the beneficiary of his oats sowing.

@omaojo1.  Good layman illustration. Hope some people who think money & banking topic in their O level economics qualifies them to run world bank will let us rest.

There is an existing economic grouping below BRIC called MAVINS.

The projected GDP in 2020 and 2050 is as follow

Mexico $2.5trillion $10.9 trillion
Australia $1.5trillion $5.8trillion
Vietnam $0.55trillion $3.6trillion
Indonesia $1.8trillion $9.3trillion
Nigeria $0.63trillion $3trillion
South africa $0.88trillion $2.6trillion

http://seekingalpha.com/article/181355-beyond-bric-introducing-mavins

There are also other stories on MAVINS. just google it

^^^ It has been played. See the report at post # 70 on page 3 of this thread

Bint el sudan
Dan arabia
Dan goma

All products of W.J. Bush Limited. Proudly nigerian.

Since January 2010, nobody can issue a single cheque above N10m if it is interbank (clearing) transaction. So how come these huge amounts were done thru cheques in 2011? The second transaction was supposed to be mere transfer to a call account from current, why was a cheque issued when ordinary instruction on letterhead would suffice? I doubt these cheques

Why do we believe that the man is saying the truth?

He said the nation was without a president for 3 days after abacha's death. Big lie. Abdusalam was named the head of state by 4pm on the abacha died even before he was buried later that night.

When abiola died in july 1998, mustapha was no longer the cso. He was posted to a location in the east as brigade major. He was not in a position to have first hand information on withdrawals and disbursement aparently from president's security vote.

Lastly anybody old enough in 1998 would know that the yorubas were not in a position to cause any trouble at that time. Whether we like to accept or not, we had been serously cowed by abacha's pacification force in SW that time.

If ordinary oyo state military governor could arrest and detained all the leading lights of nadeco in oyo state indefinitely and call them prisoner of war with no whimper from the populace. Ondo governor went into ajasin'bedroom to harass him and televise it without protest, why would federal military govt need to empty the treasury to appease leaders of already supressed masses when simple siren-blowing military convoy would send everybody scampering into their mothers' bedrooms.

Yorubas would not and could not fight for abiola in 1998 like they did in 1993/94. Period.

Unrefined data before last year may be incomparable to the last and this years' data because jamb exams in the last 2 years combined university, polytechnic and college of education together to become Unified Tertiary Matriculation Examination unlike in the previous years when we had ume, pcee separately

These zims are baaaad guys. They must have believed so much in their rigging machinery last year that they were suprised that naija could outrig them for uti to beat munya.

If this year had been one winner, naija would have still beaten them to it.

Only naija can beat zims in this kuru-kere business

Disaster!!!!!!!!!!! Luclay evicted

Remain 3 in contention ie karen, luclay and wendall. Entertainment break

Lomwe just got evicted

Next to leave is sharon

Lomwe and Luclay just had their interview and viewing the highlights. Luclay understandably got the longest applause. He is on home soil.

Karen is being interrviewed. Applause everywhere.

They have moved to the main stage and being interviewed by IK. First is wendall, then sharon. They have not been told who goes next

There are two stages actually. The 5 housemates still in contention are on the inner covered one

All housemates have been asked to come to the stage