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Celebrities / Re: Photo Of Seun Egbegbe Handcuffed With His Accomplice After His Arrest In Gbagada by Lolamida(m): 11:31am On Feb 03, 2017 |
Where is are his loyalist? They defended blindly during the last incident. Now that an emperical evidence have been provided, I hope they will desist from saying it was orchestrated by Toyin to tarnish his useless image |
Crime / Re: Otedola Vs Naijagistlive: Kiran & Jyoti Matharoo Pictured At The Court Today by Lolamida(m): 5:22pm On Dec 23, 2016 |
An innocent guy was initially accused for the crime. Linda ikeji also claimed that she has a video of the guy's confession which has turned out to be false. The guy was just a web designer. He has sued Linda for posting wrong story about him. During investigation, the police found out that the poor boy was innocent and was released after 3months. |
Politics / Re: Full Telegraph Interview With Buhari by Lolamida(m): 7:14pm On Feb 08, 2016 |
magicminister: Mr Graduate, the President said SOME which means a percentage of the populist. Expect u choose to be ignorant of the adjective |
Politics / Re: Associating My Name With Dasuki’s Case, Shameful – Falae by Lolamida(m): 9:56am On Jan 23, 2016 |
chukwudi44: People were being slaughtered like goat by Boko Haram yet the money meant for the war was deliberately diverted for PdP campaign. Here u are justifying and defending their callous acts. I pray that the enemy should sabotage the efforts of ur helpers so that you will not see any assistance during the period of need 2 Likes |
Politics / Re: Secretary’s Appearance At Military Probe Unsettles PDP by Lolamida(m): 11:47am On Nov 19, 2015 |
estherdim: End Time Products |
Politics / Re: RCCG Not Repairing Lagos-ibadan Expressway – Ogun by Lolamida(m): 3:39am On Nov 06, 2015 |
Alphaoscar: By their fonts, you shall know them. You just entered the league of smart phone user hence the fancy font. Welcome to the club. Lol |
Politics / Re: Election Tribunal Sacks 21 House Of Assembly Lawmakers In Rivers State. by Lolamida(m): 7:33pm On Oct 26, 2015 |
Lolamida: Source Sahara reporters |
Politics / Election Tribunal Sacks 21 House Of Assembly Lawmakers In Rivers State. by Lolamida(m): 7:31pm On Oct 26, 2015 |
Elections petition tribunals sitting in Abuja have nullified the election of the Speaker, Owaji Ibani from Andoni constituency and 20 lawmakers in Rivers state house of assembly. The lawmakers were elected on the platform of the Peoples Democratic Party on April 11 2015 in an election marred by vote rigging and violence. The judgements given today by the relevant tribunals in Abuja is bound to compound the case of the governor of the state, Nyesom Wike, who was sacked last week by a tribunal under the same circumstances. There are 32 state lawmakers in Rivers state with the election of 21 members nullified the state assembly will no longer form a quorum as to continue to function. More details shortly.. BREAKING: Election Tribunal Sacks Speaker And 20 House Of Assembly Lawmakers In Rivers State | Sahara Reporters https:///MWdjONWaTL |
Phones / Re: NITEL Returns As NTEL With 4G Cheaper Data Services by Lolamida(m): 8:29pm On Oct 23, 2015 |
Politics / I Did Not Accuse PENCOM Of Diverting N3.5trn - Oshiomhole by Lolamida(m): 6:08am On Oct 09, 2015 |
Governor Adams Oshiomhole of Edo State Thursday denied accusing Nigerian Pension Commission (PENCOM) of diverting N3.5 trillion pension fund. The governor who made the denial in a press statement he signed, in which he clarified his position on the Pension fund, said he never accused PENCOM of diverting the money because he has nothing to do directly with pension money in the first place. He said, rather, his position is about how pension funds operators invest hard-earned workers’ money in FGN Bonds and Treasury Bills, which in turn was grossly mismanaged through funding consumption. The text of the press statement reads as follows: “Recently, a section of news media attributed comments to me regarding the way and manner in which pension funds to the tune of 3.5 trillion Naira were drawn down to support recurrent expenditure and not infrastructure development. In the said reports, the impression created was that I had accused the National Pension Commission (PENCOM) of colluding with the Federal Ministry of Finance to divert the said amount. “Considering the manner in which this serious economic issue that borders on the future of the Nigerian economy and the welfare of the Nigerian workers who make contributions to the pension funds, is being misrepresented and trivialized in the media, I wish to make some clarifications and set the record straight. “As someone involved from the outset in the crafting of the PENCOM Act, I am very much aware that under the law, PENCOM is a regulator of the financial institutions and operators that deal directly with the management of the pension funds and pension assets, namely: the pension funds administrators (PFAs) and the pension funds custodians (PFCs). I could not have said therefore that PENCOM diverted pension money because it has nothing to do directly with pension money in the first place. “Indeed, I recall that when the pension reforms, which led to the creation of PENCOM were being formulated, the selling point of the contributory pension scheme was that pension funds should be source of cheap and long-term funds that would be used to support programmes and investments that will enhance workers welfare such as workers’ housing and the creation of a robust mortgage system. “However, what turned out in the management and operations of the pension funds was a completely different ball game. It is open knowledge that the PFAs are among the major subscribers of Federal Government of Nigeria (FGN) Bonds and Treasury Bills, which are instruments of FGN’s domestic borrowing, issued periodically by the Debt Management Office (DMO) and the Central Bank of Nigeria (CBN) respectively in behalf of the Federal Government. FGN Bonds as debt securities are generally considered safest relative to other debt instruments in the capital market because they are governed by the “faith and credit” principle; offer attractive rates and guaranteed returns, at least in theory. “It is, therefore, not a new revelation that total subscriptions of pension funds to the FGN Bonds are in excess of 3.5 trillion Naira or about 70% of the total funds (estimated at 5.1 trillion Naira) so far accrued under the contributory pension scheme. It is also not a secret that in the last five years under the previous administration, the Federal Government had engaged in monthly bond issuances as a means of raising finance to fund recurrent expenditure and service domestic debts, rather than finance capital projects, which was the main purpose of bond issuance if domestic borrowing was to be a productive and beneficial activity to the national economy. These are facts that could easily be verified from the PFAs and PFCs; DMO, Securities and Exchange Commission, as well as CBN, if journalists and the media they represented have gone the extra mile to find out. “The issue clearly was not about PENCOM diverting pension funds. It was about how pension funds operators invest hard-earned workers’ money in FGN Bonds and Treasury Bills, which in turn was grossly mismanaged through funding consumption (recurrent expenditure, payment of salaries for federal employees, financing budget deficits and domestic debt servicing) rather than concrete investment in critical infrastructure, housing, etc. Pensions as workers savings, rather than being invested in capital projects with multiplier effects on jobs and incomes, are being invested in bonds which go into funding wasteful recurrent spending. Spending borrowed money on unproductive ventures typically generates inflationary pressures that lead to devaluation of the currency and purchasing power of workers. The net effect is that by the time these savings are required to pay pensioners in the future their real value would have been eroded quite significantly. As we have seen even in advanced economies, such kind of mismanagement of pension funds had easily sparked economic crisis that undermined the welfare of workers and retirees. “I have followed the recent World Pensions Summit organized by PENCOM and all through experts and analysts kept emphasizing that pension funds should be invested in infrastructure like roads, power and other productive ventures to develop the national economy. The point here is that pension funds should not be invested in instruments that mobilize funds only for unproductive and wasteful ventures. “It is in the public domain that federal budgets in the last four years have devoted as much as 85% of the budgetary outlay to recurrent expenditures including salaries. The National Assembly on whose onus rests the approval of the budget has been lamenting year-in-year-out, this clearly bad economics, a situation in which only a paltry 15% of the budgetary outlay was devoted to capital projects and investment in the last five years. Federal legislators have also openly complained about the fact that even the 15% capital expenditure is hardly executed fully, implying that the amount devoted to recurrent expenditure will be even much higher than the 85% reported officially. “Based on the foregoing, let me reiterate that nothing I have said about pension funds and how they have been managed in the last five years is new. Everything I have said is in the public domain and can be verified. It behooves the media and journalists to refrain from twisting and misrepresenting critical national issues such as this one, so that they will not give individuals or institutions that mismanage the national economy an escape route to divert attention or muddle-up the issues. This is a responsibility we all owe Nigeria and the future generations." Source : I did not accuse PENCOM of diverting N3.5trn - Oshiomhole | P.M. NEWS Nigeria http:///L6oNKVqd3V7 1 Like |
Politics / I Did Not Accuse PENCOM Of Diverting N3.5trn - Oshiomhole by Lolamida(m): 5:53am On Oct 09, 2015 |
Governor Adams Oshiomhole of Edo State Thursday denied accusing Nigerian Pension Commission (PENCOM) of diverting N3.5 trillion pension fund. The governor who made the denial in a press statement he signed, in which he clarified his position on the Pension fund, said he never accused PENCOM of diverting the money because he has nothing to do directly with pension money in the first place. He said, rather, his position is about how pension funds operators invest hard-earned workers’ money in FGN Bonds and Treasury Bills, which in turn was grossly mismanaged through funding consumption. The text of the press statement reads as follows: “Recently, a section of news media attributed comments to me regarding the way and manner in which pension funds to the tune of 3.5 trillion Naira were drawn down to support recurrent expenditure and not infrastructure development. In the said reports, the impression created was that I had accused the National Pension Commission (PENCOM) of colluding with the Federal Ministry of Finance to divert the said amount. “Considering the manner in which this serious economic issue that borders on the future of the Nigerian economy and the welfare of the Nigerian workers who make contributions to the pension funds, is being misrepresented and trivialized in the media, I wish to make some clarifications and set the record straight. “As someone involved from the outset in the crafting of the PENCOM Act, I am very much aware that under the law, PENCOM is a regulator of the financial institutions and operators that deal directly with the management of the pension funds and pension assets, namely: the pension funds administrators (PFAs) and the pension funds custodians (PFCs). I could not have said therefore that PENCOM diverted pension money because it has nothing to do directly with pension money in the first place. “Indeed, I recall that when the pension reforms, which led to the creation of PENCOM were being formulated, the selling point of the contributory pension scheme was that pension funds should be source of cheap and long-term funds that would be used to support programmes and investments that will enhance workers welfare such as workers’ housing and the creation of a robust mortgage system. “However, what turned out in the management and operations of the pension funds was a completely different ball game. It is open knowledge that the PFAs are among the major subscribers of Federal Government of Nigeria (FGN) Bonds and Treasury Bills, which are instruments of FGN’s domestic borrowing, issued periodically by the Debt Management Office (DMO) and the Central Bank of Nigeria (CBN) respectively in behalf of the Federal Government. FGN Bonds as debt securities are generally considered safest relative to other debt instruments in the capital market because they are governed by the “faith and credit” principle; offer attractive rates and guaranteed returns, at least in theory. “It is, therefore, not a new revelation that total subscriptions of pension funds to the FGN Bonds are in excess of 3.5 trillion Naira or about 70% of the total funds (estimated at 5.1 trillion Naira) so far accrued under the contributory pension scheme. It is also not a secret that in the last five years under the previous administration, the Federal Government had engaged in monthly bond issuances as a means of raising finance to fund recurrent expenditure and service domestic debts, rather than finance capital projects, which was the main purpose of bond issuance if domestic borrowing was to be a productive and beneficial activity to the national economy. These are facts that could easily be verified from the PFAs and PFCs; DMO, Securities and Exchange Commission, as well as CBN, if journalists and the media they represented have gone the extra mile to find out. “The issue clearly was not about PENCOM diverting pension funds. It was about how pension funds operators invest hard-earned workers’ money in FGN Bonds and Treasury Bills, which in turn was grossly mismanaged through funding consumption (recurrent expenditure, payment of salaries for federal employees, financing budget deficits and domestic debt servicing) rather than concrete investment in critical infrastructure, housing, etc. Pensions as workers savings, rather than being invested in capital projects with multiplier effects on jobs and incomes, are being invested in bonds which go into funding wasteful recurrent spending. Spending borrowed money on unproductive ventures typically generates inflationary pressures that lead to devaluation of the currency and purchasing power of workers. The net effect is that by the time these savings are required to pay pensioners in the future their real value would have been eroded quite significantly. As we have seen even in advanced economies, such kind of mismanagement of pension funds had easily sparked economic crisis that undermined the welfare of workers and retirees. “I have followed the recent World Pensions Summit organized by PENCOM and all through experts and analysts kept emphasizing that pension funds should be invested in infrastructure like roads, power and other productive ventures to develop the national economy. The point here is that pension funds should not be invested in instruments that mobilize funds only for unproductive and wasteful ventures. “It is in the public domain that federal budgets in the last four years have devoted as much as 85% of the budgetary outlay to recurrent expenditures including salaries. The National Assembly on whose onus rests the approval of the budget has been lamenting year-in-year-out, this clearly bad economics, a situation in which only a paltry 15% of the budgetary outlay was devoted to capital projects and investment in the last five years. Federal legislators have also openly complained about the fact that even the 15% capital expenditure is hardly executed fully, implying that the amount devoted to recurrent expenditure will be even much higher than the 85% reported officially. “Based on the foregoing, let me reiterate that nothing I have said about pension funds and how they have been managed in the last five years is new. Everything I have said is in the public domain and can be verified. It behooves the media and journalists to refrain from twisting and misrepresenting critical national issues such as this one, so that they will not give individuals or institutions that mismanage the national economy an escape route to divert attention or muddle-up the issues. This is a responsibility we all owe Nigeria and the future generations.” Source : I did not accuse PENCOM of diverting N3.5trn - Oshiomhole | P.M. NEWS Nigeria http:///L6oNKVqd3V |
Politics / Re: Tribunal Nullifies Election Of Bashir Marafa Of Taraba by Lolamida(m): 7:00am On Oct 01, 2015 |
porka:I am very sorry for your ignorance. |
Politics / Re: Tribunal Nullifies Election Of Bashir Marafa Of Taraba by Lolamida(m): 11:26pm On Sep 30, 2015 |
chukwudi44: Oga Ade, the appeal court is highest court that gives final judgment in election matters. Nothing like Supreme Court in post election cases. Don't mention |
Politics / Re: CCT: Court Orders Saraki's Arrest by Lolamida(m): 5:36pm On Sep 18, 2015 |
lebete3000: Na wah oh! So guy, u don't know the difference between commission and tribunal? Ameachi is being investigated by commission set up by the state governor and he is not compelled by the constitution to appear before it. But CCB is a tribunal recognize by the constitution. Guy, if u want to make points let it be valid ones. 6 Likes 1 Share |
Politics / Re: CCT: Court Orders Saraki's Arrest by Lolamida(m): 5:25pm On Sep 18, 2015 |
I can't believe people are still as daft as this? Don't you know APC never wanted Saraki as Senate President and have been doing everything to bring him down? This is a case of witch-hunting not the above the law nonsense you're talking about. With all d corrupt people in APC na only Saraki dem see do scapegoat and you're here jumping for joy...no wonder Naija is still d way it is when peeps like you have refused to use their brain. What of Amaechi dat has refused to appear b4 tribunal? Naija use una brain for once cos na we no be government go make Naija better.[/quote] Na wah oh! So guy, u don't know the difference between commission and tribunal? Ameachi is being investigated by commission set up by the state governor and he is not compelled by the constitution to appear before it. But CCB is a tribunal recognize by the constitution. Guy, if u want to make points let it be valid ones. 6 Likes 1 Share |
Gaming / Re: Which Among These Android Games Is Your Most Favorite? (Graphic Photos) by Lolamida(m): 12:58pm On Aug 29, 2015 |
Sholexyz: which one is "cheat" again oh! I spend days on some level before I break through. for instance I am stuck in level 534 for days now but am hopeful. so oga, I don't cheat Sholexyz: which one is "cheat" again oh! I spend days on some level before I break through. for instance I am stuck in level 534 for days now but am hopeful. so oga, I don't cheat |
Gaming / Re: Which Among These Android Games Is Your Most Favorite? (Graphic Photos) by Lolamida(m): 10:19pm On Aug 28, 2015 |
slimmyjimmy: u mean this level? this is the replay! very easy. I just played it again for ur sake. try breaking the barrier from the middle.
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Gaming / Re: Which Among These Android Games Is Your Most Favorite? (Graphic Photos) by Lolamida(m): 10:16pm On Aug 28, 2015 |
slimmyjimmy: u mean this level? this is the replay! |
Gaming / Re: Which Among These Android Games Is Your Most Favorite? (Graphic Photos) by Lolamida(m): 10:03pm On Aug 28, 2015 |
Sholexyz:I senior you for candy crush! can u beat this?
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Gaming / Re: Which Among These Android Games Is Your Most Favorite? (Graphic Photos) by Lolamida(m): 9:58pm On Aug 28, 2015 |
emusmith:level twenty gini? u shall overcome
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Politics / Re: Jonathan Ordered Me To Withdraw $2bn From ECA To Pay Fuel Subsidy – Okonjo-iweal by Lolamida(m): 1:00am On Jul 09, 2015 |
it is disheartening to read how some people display their ignorance or stupidity. The ECA (Excess Crude Account ) is savings made from selling the crude oil beyond the approved bench mark by the senate. The money from the ECA is meant for the three tiers of govt. namely the fed, the state and local. the fed govt owns 52% while 48% is shared between state and local govt. No one has the sole authority for its usage except the National Executive Council approves. So withdrawing from the account without the consent/approval of the joint owners is wrong and it should be condemned. 2 Likes |
Politics / Re: This Is How Ambode Wants To Solve Traffic Problem In Lagos by Lolamida(m): 5:37pm On Jul 01, 2015 |
temitemi1: Check the headline again Court Dismisses Agbaje's Petition Against Ambode ... Nairaland |
Politics / Re: Buhari To Announce Ministerial List Monday by Lolamida(m): 7:07pm On Jun 12, 2015 |
blacksta: You forgot to add his unborn generation! From his first to the last generation . Oloshious animal. |
NYSC / Re: Embarrasing: See What A Corper Posted On Facebook by Lolamida(m): 9:39am On Jun 06, 2015 |
Politics / Re: "It's Going To Be A Very Difficult Year," Ngozi Okonji Iweala (CNN) by Lolamida(m): 9:59pm On Mar 18, 2015 |
Transformation Agenda indeed! 1 Like
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Politics / Re: "It's Going To Be A Very Difficult Year," Ngozi Okonji Iweala (CNN) by Lolamida(m): 9:55pm On Mar 18, 2015 |
Where are the GEJites ? The FeeedeeeFeee e-rats, the saTANist, The Oloshious supporters. After looting the treasury dry, she still has the gut to say ' growing ' economy. Sango will bust that ur kwashiokior cheeks.: 1 Like |
Politics / Re: My Husband Must Complete His Two Terms – Mrs. Jonathan by Lolamida(m): 12:15am On Mar 15, 2015 |
'MUST' is not an appropiate word. She can't command or force Nigerians to vote for her husband. She needs to persuade or beg us. She sounds like a bully. She talks as if we dont have choice. It is not their birthright.The power to elect the president lies with us and we may choose not to. Arrogance does not win the heart of the people, Humility does. Even God despise the proud. |
Politics / Re: Court Summons YDP For Embarrassment Over Misrepresentation Of Judgment by Lolamida(m): 7:57pm On Mar 12, 2015 |
temitemi1: am an undecided voter, can u enlighten me more on the reason I shld vote for GEJ. Pls be reminded that GEJ has admitted to be a failure, so Y shld move forward with a failed person? 5 Likes |
Politics / Re: Certificate Saga: Withdraw From Presidential Race, PDP Tells Buhari by Lolamida(m): 5:32pm On Feb 13, 2015 |
onatisi: |
Family / Re: Fashola's Uncle Beats Up Second Wife (Photo) by Lolamida(m): 3:44pm On Feb 12, 2015 |
u will not get justice from nairaland or other blogs. Human rights NGO will handle the case. Take ur evidence there. That is if u don't trust the Nigerian Police Force . Finally , use wisdom when meddling into married couple affairs because the moment they settle, na ur head the wahala go dey! Even the battered lady will turn the matter against you. |
Politics / Re: PDP Presidential Rally In Calabar, Cross River (Photos) by Lolamida(m): 5:03pm On Jan 30, 2015 |
compare this your "mammoth"crowd with Lagos crowd. Ibadan sef plenty pass am |
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