₦airaland Forum

[center]Junior agogo of Ghana looks more like a boxer to me sha ! [/center]

I just checked out the you tube link,

Aghhhhhhhhhh


Arghhhhhhhhhhhhhhhhhhhhhh

God bless,kai ! ^{*tears running down his eyes, *}

I haven't posted on Nairaland in a long while,but this Voltron thread brough tears to my eyes.

I remember back then in Pry 3 & 4,NEPA was so horrible ,I would be praying,keeping my finger's crossed for Ithink 4.30 or 5.30 when Voltron would start,all chores would be settled long before as nothing could stand in the way of almighty voltron !

Then I had this friend on my street (he's now in the US ) who could draw the best Voltron u could ever come to see. I actually sold a couple,

when NEPA messed things up we would all wait during breaktime for anybody who was lucky enough to have electricity,mehnnnnn

I remember , "When Voltron's legend grew,peace settled across the galaxy,on planet earth a new alliance was formed until a new horrible menace blah,blah blah.

Those were the days mehnnnnn.




Thanks a mill'

I can't believe I'm even contributing to this post ,due to its obvious illogical outlook.

The ex-despot will be almost 70 by 2011,  does this make any sense? All over the world ,genuine leaders are working towards younger successor generations, But in Nigeria??

@poster,
The cautious value of your post is very much appreciated,however the depth of your arguments maybe marginally faulty.

Banks are currently raising capital partially to meet up with CBN's paid up requirements for handling Nigeria's foreign reserve($1bn) and of course achive whatever long term strategic objectives they may have.

When quoting foreign markets,statistics always try to put them in the proper context/perspective.

Closes 27/09/2007 . further details on the App form
Cheers

Kindly find attached forms for the offer of a lifetime.

Lets share in Alhaji's wealth pls.

You are very correct,
My personal take - NOT TO BE,

Save your hard earned dough for DANGOTE next month.

(Personal opinion please)

to be or not to be ??

i think this whole thing vindicates my contributions as a shareholder long before the offer came out,

https://www.nairaland.com/nigeria/topic-57763.0.html

@nferyn

nferyn:
o Reverend(?),Seun and all other atheists,humanists in the house I can only offer you Psalm 14:1.
An uplifting example of 'good' Christian behaviour: If you don't have any argument, just throw in some insults. Always does the trick, doesn't it?

Sorry no insults intended,I was just quoting the Bible,I'm glad you checked it out though

nferyn:
Projection, anyone?
The possibility of life after death really doesn't linger anywhere in my mind, ever. I have no reason to put any faith (pun intended) in something that can only be considered a contradiction in terms. Apparently you have difficulty understanding that not all people have a need to ponder over fantasy all the time

I think you are being slightly economical with the truth here,the death of a loved one or someone known to us (at the very least,brings such thoughts ,if not anything),if you're not ready to admit this no probs,

nferyn:
So what you chose is putting your rationality on hold for a promise backed by nothing but Pascal's Wager? What poor foundations for morality, especially if you consider the asinine morality that is contained in the Bible. Or do you perhaps really believe that e.g. parents should slay their recalcitrant children? I would be really scared of you if you were to get your morality from the Bible.

Whats Pascal's Wager by the way? I am a Christian & my hope of heaven is further re-inforced daily in my communion with God, and also if you will, the miracles and extra-ordinary things prayer brings about in every day life. When I attend a program and the lame walk,the blind see etc this further re-inforces the Bible and that backs up my hope in eternal glory with Christ Jesus,

nferyn:
By the way, what do you mean when you talk about the 'safe haven' of atheism?

Humans confront their fears with denial,

nferyn:
And what if the true God were not the Christian God but the Norse God, or Vishnu? Applying Pascal's wager to these Gods leaves you none the wiser but all the more confused, which God to choose out of the thousands made up by men over the centuries?
Also, what makes you think that belief is something you can choose?
Start by bringing some positive evidence in favour of your God hypothesis and then we can start talking.

Sorry I'm talking about the Christian God, Jehovah,Yahweh,El Shaddai . Belief in God is based on just that (faith),you need that. For specific evidence , pls read my comments on Pascal's wager,

CSL or ARM?

While I appreciate all our apprehension about this re-denomination,  one thing everybody seems to forget is that MONEY IS JUST A MEANS OF EXCHANGE. The paper itself isn't exactly a reflection of once wealth but THE VALUE(goods & services) it can get.

There should not be any problem with this exercise,there's adequate notice, and I will asume equally sufficient publication & awareness,

What we should all be concerned with is WILL THE GOVT SUPPORT THE CURRENCY WITH PROPER FISCAL POLICIES??

Once you have all the factors of production to back up your currency ,you don't have a problem,afterall somebody unilaterally devalued the currency(although this should'nt e mixed up with re-denomination).

Another thing we must realise is that money is a political tool,worldwide. Thats why the British refused to join the Euro & the US has been fighting China to float its currency.

Lets support our Naira /Country please,

While I appreciate all our apprehension about this re-domination,  one thing everybody seems to forget is that MONEY IS JUST A MEANS OF EXCHANGE. The paper itself isn't exactly a reflection of once wealth but THE VALUE(goods & services) it can get.

There should not be any problem with this exercise,there's adequate notice, and I will asume equally sufficient publication & awareness,

What we should all be concerned with is WILL THE GOVT SUPPORT THE CURRENCY WITH PROPER FISCAL POLICIES??

Once you have all the factors of production to back up your currency ,you don't have a problem,afterall somebody unilaterally devalued the currency(although this should'nt e mixed up with re-denomination).

Another thing we must realise is that money is a political tool,worldwide. Thats why the British refused to join the Euro & the US has been fighting China to float its currency.

Lets support our Naira /Country please,

Reverend:
Just a shame that he does not exist

To Reverend(?),Seun and all other atheists,humanists in the house I can only offer you Psalm 14:1.
No matter how we try to wish it away or philosophise about it , the possibility of LIFE AFTER DEATH will continue to be a recurring topic lingering around throughout our lives.

As a rational human,i've also found myself at crossroads between throwing away all my beliefs and resting in the 'safe haven' of atheism,freethinking etc . What keeps me in check is that I really have nothing to loose living a morally upright and successful life as dictated by Bible.
If i die & it all proves to be falsehood I am still fine BUT if the reverse was the case & i decide to assume God doesn't exist and  Jesus,the Bible were all made up & I die & find myseldf in Hell,  what would become of me??

So please try to search more about God & not close your mind to Him. Just because you have a few unanswered questions about life does not  mean God does not exist.

Bellview to London via Freetown's my worst experience,

I think it'll be nice you get a degree.
Pls explore the part time option

I'll also like to hear from Dollyp1cute her personal experiences with Cashcraft.

While not personally voucing for anybody,from my advise to jungle,its quite clear there are almost no stockbrokers without issues,

Mjd ,
I don't totally agree,

Find below my previous posts on this,

'As per Access Bank offer , i have some reservations.

Granted those of us that invested when the shareprice was between N2-N3.5 , gained immensely from capital appreciation(this may not be unrelated to the recent general bullish trendsof the NSE) ,but a look at their last annual report would reveal some skeletons.

The bank was fined millions of naira for ,  insider trading , essentially the directors were taking loans and the loans were not performing. I'm certain this shouldn't repeat itself, but for the bunch of well educated &forward looking guys managing the place I didn't expect such.

So much for all the puffing about acquiring Union Bank ,Afribank etc,  Tell me guys here is the nearest Access bank branch to you?
Compare your answer to thenearest branch of Zenith,1st,Union,Oceanic,GTB etc.

So my verdict,  If Oceanic could come out for 13+ bucks , the access offer is slightly overpriced and the long term without a solid retail presence,  well.
In addition please note & note well that Access has the 3rd lowest EPS(earning per share ) in the sector(10.56), compare with 1st bank(338k) GTB(164k) Zenith(191k)Oceanic(102k)

Please note , this opinions are STRICTLY mine( I think I'm entitled to them)
Cheers,

Jungle,
There's no probs with you having 2 CSCS account numbers,  I had 3 at a time.

But it may be advisable for proper monitoring to move all your shares to one house.

All stockbrokers are about the same,just pray you meet serious God fearing people,so I dither in recommending brokers.
But cashcraft have a good online monitoring facility.
Hope this helps.

Don't worry,hang in there for Oceanic,

As per Access Bank offer , i have some reservations.

Granted those of us that invested when the shareprice was between N2-N3.5 , gained immensely from capital appreciation,but a look at their last annual report would reveal some skeletons.

The bank was fined millions of naira for ,  insider trading , essentially the directors were taking loans and the loans were not performing. I'm certain this shouldn't repeat itself, but for the bunch of well educated &forward looking guys managing the place I didn't expect such.

So much for all the puffing about acquiring Union Bank ,Afribank etc,  Tell me guys here is the nearest Access bank branch to you?
Compare your answer to thenearest branch of Zenith,1st,Union,Oceanic,GTB etc.

So my verdict,  If Oceanic could come out for 13+ bucks , the access offer is slightly overpriced and the long term without a solid retail presence,  well.
In addition pls note & note well that Access has the 3rd lowest EPS(earning per share ) in the sector(10.56), compare with 1st bank(338k) GTB(164k) Zenith(191k)Oceanic(102k)

Pls note , this opinions are STRICTLY mine( I think I'm entitled to them)
Cheers,

Seun,
While appreciating your hosting us an all,I think you've done the responsible thing to alert every one by tagging it 'Risky Business' with the warnings and all,

I'll suggest you leave it at that and allow adults make up their minds ,Cheers

Got this on email,i don't know how true it is,
cheers

Central Bank declares Springbank distressed 11/6/2007


By Segun Adeleye, Head Business desk
THE first shock of the consolidation of banks is here, a year and half after the exercise that was widely hailed as the magic pill for distress in the all-important sector.
The Central Bank of Nigeria (CBN) has tactically declared Springbank Plc insolvent.
The apex bank, which is believed to be deeply involved in the crises that seem to have brought the bank to its knees, made a belated move last Tuesday to save the situation, but there were no signs yesterday that it was successful. Springbank is the product of the 2005 merger of Omegabank Plc, ACB International Bank Plc, Citizens International Bank Plc, Guardian Express Bank Plc and Trans International Bank Plc.
The CBN Governor, in a letter written to Rev Canon Segun Agbetuyi, the Chairman of Spring Bank Plc on June 5, ordered the removal of 13 directors and called for a new board immediately.
To be removed are Rev Canon Segun Agbetuyi, Dr Cosmas Maduka, Prof Anya O. Anya, Chief Tony Ezenna, Chief Adebayo Adetuyi, Chief Anthony Adeniyi, Mazi Okechukwu Unegbu and Mr Edwin Mmuomenam.
The rest are Mohammed Ibrahim Sani, Dr O.B.A Kola-Daisi, Mr Ifeatu C. Onejema, Mr Olabisi I. Afolabi and Mr Tolulope Fadahunsi.
In the letter entitled, ‘Banks and other Financial Institutions Act No.25 of 1991 (As Amended) Removal as Director of a Bank’, Soludo wrote: "Whereas the Central Bank of Nigeria is satisfied that Spring Bank Plc is in a grave situation, having become insolvent with negative shareholders’ fund contrary to prudential requirements stipulated by the Central Bank of Nigeria pursuant to the provisions of the Banks and other Financial Institutions Act, 1991, and the Central Bank of Nigeria Act, 1991, as amended.
"Now therefore, I, Professor Chukwuma C. Soludo, Governor of the Central Bank of Nigeria, in exercise of the powers conferred on me by Section 33 of the Banks and other Financial Institutions Act, 1991, as amended, hereby remove as directors of Spring Bank Plc, the persons whose names are specified in the schedule hereto with effect from the 5
thday of June, 2007."
However, another directive from the apex bank that a new board should be constituted by Mr Mike Chukwu, the managing director/CEO, latest Friday June 8, was not successful as some interested parties rejected the choice of Mr Chukwu, who is described as a principal player in the crises.
The crises started shortly after the end of consolidation in December, 2005 when it was discovered that the claims by some shareholders to have brought billions of naira into the merger were false.
Specifically, N3.801 billion worth of shares owned by three major shareholders of Guardian Express Bank were said to two billion shares valued at N2.4 billion belonging to Maduka, 834 million shares valued at N1.001 billion belonging to Ezenna and 240 million shares valued at N410 million belonging to Mmuomenam.
The findings and recommendations report of some unresolved issues of the merger stated that "Coscharis Motors Ltd with 2.0 billion shares; Ezenna Anthony Ifeanyichukwu 834 million shares and Edic Chemical and Allied Distributors Ltd with 200 million units. Our review of the accounts of the investors showed that two accounts were maintained for each of them as customers of the bank, one in perpetual debit and the other in perpetual credit.
"Further review showed that the cheques presented by Ezenna Anthony Ifeanyichukwu (Orange Drug Ltd) and Coscharis Motors were given post value dates of 24/08/2005 and 30/06/2005 respectively, that is after the closure of the IPO exercise, thereby suspending the debits. A consolidation of the two accounts maintained by each of the investors/customers showed that they did not have enough funds to accommodate the value of the cheques."
It was as a result of these irregularities that it became clear shortly after consolidation that the new bank did not have the mandatory N25 billion shareholders’ fund after all, but accumulated loan losses of N15.546 billion.
Some partners in the merger who were expecting readjustment on the board to reflect the new reality after the review were shocked when the CBN approved that the status quo should remain. They protested that the CBN guideline on consolidation did not give exception to any ailing bank to utilise revaluation surplus to beef up its capital, as the Guardian Express team that turned out to have brought nothing to the merger wanted to remain in charge.
In fact, the chairman of the bank, Rev Agbetuyi, had foreseen the doomsday when he wrote a strongly-worded letter to the CBN boss on March 1, urging him to move fast and rescue the bank.
He said in his letter, "the shareholders of five of the six legacy banks seem to be united in their strong-held view that because of insider issues and corporate governace problems which have already become embedded in the Spring Bank system under Mr Maduka’s control in a very short period since existence, it may be difficult to work together with the Guardian Express legacy team going forward."
As for the managing director, Mr Mike Chukwu, the chairman said he was incompetent as he had only briefly headed Guardian Express Bank which major operations (60 per cent) were Mr Maduka’s businesses.
The crises became deeper when the CBN failed to act swiftly on the suggestions which include appointing an acting managing director, recovery of bad loans, recapitalisation among others.
A section of the aggrieved parties went ahead to petition the Attorney General of the Federation and Minister of Justice when they lost hope on the ability of the CBN to sanction those that perpetrated the fraud. In fact, the Guardian Express team are believed to be untouchable in the system.
Chief Bayo Ojo (SAN), the Attorney-General of the Federation and Minister of Justice however intervened on the matter last month.
In a letter to the chairman of the bank dated May 24 2007, he acknowledged the petition against some directors of the bank and ordered that they should step down.
"I understand from the petition and attached evidence that following complaints made to the CBN regarding the existence of fraud in the recapitalisation process of Guardian Express Bank Plc, a team of CBN and NDIC officials were sent to the Bank. The team has now established that a fraud was indeed committed by some directors of the bank who currently sit on the board of Spring Bank Plc…
"Based on the foregoing and the need to undertake a proper investigation of the offences allegedly committed, I am requesting by this letter that the affected non- executive Directors, Dr Cosmas Maduka, Chief Tony Ezenna and Mr Edwin Mmuomenam be directed to step down immediately from the board of Spring Bank Plc. In addition, Mr Mike Chukwu and Mr Ifeatu Onejeme, executive directors at Guardian Express Bank Plc when the irregularities were committed, should equally step down from the current board of Spring Bank Plc as directors
"This action is crucial for creating the required atmosphere in the bank that would make for preservation of factual information necessary for our effective prosecution of the directors which will soon commence in earnest, after detailed police investigation.
"Please note that if by Monday, May 28, 2007 your bank does not comply with the above directive, I shall have no other alternative than to order the arrest of the said directors by the police to enable the investigation proceed unhindered."
There was no sign of any action on this letter which was also sent to the EFCC, NDIC and Inspector General of Police, until the June 5 letter through which the CBN boss removed 13 directors of the bank, leaving behind the managing director, Mike Chukwu, to reconstitute the board.

Nice one coli. This is a topic I'm really interested in, shoot

Pls check out DHL on o12700908, they hav a reliable service called Import Express which allows you bring in goods from abroad & pay freight charges here locally in naira.
Cheers