₦airaland Forum

I didn't read through but I believe it should be helpful.

Ranchhoddas:
The pope did not and can never say this.This is a fabrication.

i am not a Catholic but I think the Pope did not say this.

Mprex:
the mods of nl would never see an inspiring post like this to push to the fp. If its tonto and her new ring, it would definitely get there.



nice one op

my dear, if it were about sex.or one ccelebrity, u go see am for front-page.

knostbrown01:
.

y u dey book Dis kind small space?? Abeg book beta space jorh

opalu:
Please let our Nairaland Accountants explain the details and working behind this?

How does this conversion of debts to bonds work for both those who buy the bonds and the FG who wants to take the state loans as FG bond.

true.

xamuelotu:
U sure say this kind move no go make other state follow collect thier own loan, after all FG go bail them. Obi no be so OP?

lol.my broda no so we see am oh.

olasmith10:
although am not well grounded in finance, buh a "bond " is a debt investment ..in d case of d story above, d States are d beneficiaries.. I think d issuer is d fed govt through d listed banks..

tnx a lot. Me see been no sabi.

JAMANZE:
To be honest i read it but didnt understand it

hmmmmmm..this one is strong.

Emeskhalifa:
OKKKKK

ok too

The Nigerian Army has said its counterinsurgency troops have killed many Boko Haram militants in fierce battle in a Borno town.

Army spokesman, Colonel Sani Kukasheka Usman, said the troops from the Army Task Force Brigade engaged Boko Haram fleeing Sambasa, the insurgents’ main hideout, following an air bombardment.

“Troops of 26 Task Force Brigade in Gwoza, Borno State, Wednesday evening engaged Boko Haram terrorists fleeing Sambisa forest following continued aerial bombardment by the Nigerian Air Force,” Usman said in a press statement.

He said the fleeing insurgents were seen in “seven pick-up vans and some motorcycles mounted with assorted weapons such as Rocket Propelled Grenades and Anti-Aircraft Guns.” He said troops killed “quite a number of them.” He, however, did not reveal the exact number of casualties.

“The troops also destroyed their vehicles, weapons and motorcycles. They also recovered one vehicle, one motorcycle and two AK47 riffles and large quantities of 7.62mm NATO and 12.7mm ammunitions,” he added.

Sambisa Games Reserve, a serene area spreading across about five local governments in Borno is a regarded as a major Boko Haram camp.

he National Economic Council chaired by Vice- President Yemi Osinbajo was on Thursday told that Federal Government bonds had been issued to 14 banks on behalf of 11 state governments as part of the plan to restructure states’ loans in commercial banks.

As part of the plan, the Federal Government had approved the conversion of states’ loans in commercial banks to Federal Government bonds.

This is in line with the palliatives President Muhammadu Buhari had approved for state governments to enable them to meet their financial obligations.

The 11 states, which are beneficiaries of the FGN bonds issued to the 14 banks, were among the 22 states who had applied for their commercial loans to be converted to FG bonds as of August 19.

Four governors, Ibikunle Amosun (Ogun); Willie Obiano (Anambra); Abdulfatah Ahmed (Kwara); and Muhammed Badaru (Jigawa), briefed State House correspondents at the end of the meeting.

The NEC which is chaired by Vice-President has all state governors as members.

Ahmed said the latest on the terms of restructuring of states’ indebtedness to commercial banks were contained in the presentations made to the council by the Central Bank of Nigeria and the Debt Management Office.

He said the bonds for the 11 states were issued to 14 banks after they submitted the reconciled figures and other required documents for the restructuring.

Ahmed, therefore, urged the remaining 11 states to quickly put their documentation in place to ensure that they fitted into the time schedule.

The governor said, “The DG of DMO told the council that based on the approval of Mr. President on the plan to restructure bank loans of states into FG bonds in order to address fiscal imbalance, 22 states had submitted reports and applied for restructuring as of August 19.

“The DG also said the DMO had requested the states to reconcile figures with the banks and had been jointly authenticated with the banks as of June 30.

“As of August 14, out of the 22 states that applied, FG bonds had been issued in respect of the loans of 11 states.

“The bonds were issued to 14 banks after submitting the reconciled figures and other required documents for the restructuring.

“DMO is now reviewing the additional submissions by states in the second phase of the programme.”

Economic and financial experts said the loan conversion deal was good for the banks and the state governments because the bond certificates issued to the 14 banks on behalf of the 11 states meant the states were no longer indebted to the banks.

The Head, Asset Management, Meristem Asset Management Limited, an investment advisory firm Mr. Taiwo Yusuf, said, “What the bond certificates issued to the 14 banks mean is that the states are no more indebted to the banks. The Federal Government through the DMO has taken that up. While I don’t know much about the 14 banks, it can be inferred that the 14 banks are the lenders the 11 states were exposed to.”

The Head, Research and Investment, Afrinvest West Africa Limited, Mr. Ayodeji Ebo, said, “It is good news for the banks considering the challenging financial situations some of them are passing through.”

The Federal Government bailout package for the 36 states includes the sharing of about $2.1bn (N413.7bn) in fresh allocation between the states and the Federal Government.

Another measure is a CBN-packaged special intervention fund that offers financing to the states, ranging from between N250bn and N300bn.

The third measure is a debt relief programme proposed by the Debt Management Office which will help states restructure their commercial loans currently put at over N660bn and extend the tenure of the loans to 15 years, thereby reducing the states’ debt service obligations.

However, Obiano said the Ministry of Finance reported to the council that the current Excess Crude Account proceeds stood at $2.207bn as of August 2015.

He added that the Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Emmanuel Ka....

Ishilove
Lalasticlala
Afam4eva

A group, the National Anti-Corruption Crusaders, says it will on August 28, 2015, stage a protest march in Calabar, Cross River State, to push for the arrest and prosecution of former governor, Liyel Imoke and several others for their role in what the group describes as “the diversion of public funds, belonging to Cross River State”.
Prince Ekanem, Director-General of the group, informed www.calitown.com that the protest march will begin from the Watt Market, through Calabar road and terminate at the Governor’s Office, Calabar, where the group plans to submit a written petition to the Gov. Ben Ayade. Ekanem particularly insists “it is painful that Imoke bought an aircraft that we still have not sited in this state. We will push for the arrest and prosecution of Liyel Imoke so that the public will know that it is no longer business as usual”.

He further adds that the group will mobilize Cross Riverians from far and wide for the march so that it will register in the minds of present leaders and those who aspire to lead the state in the future that the people are awake to the basic demand of good and transparent leadership.
Source:
Calitown. Com

dridowu:
Average of 4.5hrs per day ? So bad, until our average is 12hrs/day before i believe their is improvement in power supply. Even the average must be during the season

i think it's an improvement. oh.

hyfr:
ah what a pity, pls where is calamari

sorry I mearnt calabar.

hyfr:
wow I stay in aba and I have steady power supply from like 1am to 11pm, which they bring back within 30mins and it goes on like that since Feb 2015.

we had the same in calamari but it has reduced drastically. Rumors reaching us has it that the power firm controlling our region has some technical issues.

unspecified number of insurgents during a fierce battle in Gwoza, Borno State.

The Acting Director, Army Public Relations, Col. Sani Usman, said in an electronic mail on Wednesday that the insurgents were fleeing the Sambisa Forest due to aerial bombardment by the fighter pilots of the Nigerian Air Force.

Usman said that the insurgents were fleeing in seven pick-ups with motorcycles ‘mounted with assorted weapons such as rocket propelled grenades and anti-aircraft guns’ when they ran into the encounter with the troops in Gwoza.

Usman, who did not disclose the exact number of the insurgents killed in the operation, said that the troops destroyed the vehicles and weapons and also recovered some items from them.

According to him, the items recovered include a vehicle, one motorcycle and two AK 47 rifles and large quantities of 7.62mm NATO and 12.7mm ammunition.’

He stated further that the troops were carrying out aggressive offensives and patrol activities in the area.

He said, “Troops of 26 Task Force Brigade in Gwoza, Borno State, yesterday evening engaged Boko Haram terrorists fleeing Sambisa Forest following continued aerial bombardment by the Nigerian Air Force.

“The fleeing terrorists in seven pick-ups and some motorcycles mounted with assorted weapons such as rocket propelled grenades and anti-aircrtaft guns were decisively dealt with, killing quite a number of them.

“The troops also destroyed their vehicles, weapons and motorcycles. They also recovered a vehicle, one motorcycle and two AK47 rifles and large quantities of 7.62mm NATO and 12.7mm ammunition.

The troops have intensified their patrols and offensive actions against the terrorists in the area.”

Also, the Director of Public Relations and Information of the Nigerian Air Force, Air Commodore Dele Alonge, said in an electronic mail on Wednesday that the Air Force had intensified the strafing of the Sambisa Forest.

He said that the Air Force deployed F-7 fighter aircraft for the bombardment of the forest while the Alpha jet which was deployed in reconnaissance hit some of the moving vehicles of the insurgents.

Alonge added that the ATR-42 and Diamond-142 surveillance aircraft had been involved in surveillance operations over Damasak, Alafis and Sambisa.

“Meanwhile, the Nigerian Air Force has intensified the aerial bombardments of Sambisa forest. The F-7 fighter aircraft carried out interdiction mission over designated targets and suspected Boko Haram locations.

“Also, the Alpha Jet carried out reconnaissance and attacked some moving vehicles belonging to BHT. While, the Mi -24 and Mi-35 attack helicopters further carried out interdiction mission at some identified targets all in Sambisa Forest,” he said.

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Lalasticlala

[quote author=natas22 post=37142023][/quote];Du d book two spaces at once.

The average daily cumulative power supply received by consumers in the second quarter of 2015 stood at 4.9 hours, according to a new report released by NOIPolls Limited.

The report revealed that the average cumulative power supply received by Nigerian households within a 27-month period (April, 2013 to June, 2015) was below six hours per day.

It said implication of this indicated that individuals were relying and spending more on alternative sources of power to ensure efficiency in the running of their homes and businesses.

Findings revealed that from the second quarter of 2013 to that of 2015, the majority of Nigerian households received one to four hours of cumulative power supply, this proportion of Nigerians was highest in Q2 2014 (47 per cent) and lowest in the third quarter of 2014 (29 per cent), the report said.

“An average of 17 per cent of Nigerian households did not receive any electricity from the Discos, and this proportion of Nigerians witnessed an all-time high of 21 per cent in the fourth quarter of 2014, quickly followed by the third quarter of 2014, with 20 per cent.”

The results further revealed that the highest average daily cumulative power supply Nigerian households received within the same period in view was 8.2 hours per day.

“In addition, a comparison of Q2 2013, Q2 2014 and Q2 2015 shows a visible regressive trend as daily cumulative hours of power supply dropped from 6.4 to 5.7 and to 3.9 respectively, despite the billions of naira invested in resuscitating the sector,” said NOIPolls.

According to the report, the number of respondents who received 19 to 24 hours of light had remained almost the same, going from five per cent in Q2 2013 to eight per cent in Q3 2014 and back to five per cent in Q2 2015.”

The report stated that even in the face of the ongoing reforms in the power sector, Nigerians were still suffering major blackouts all over the nation as daily cumulative direct power supply kept dropping.

“The average cumulative hours of power supply to Nigerians amounted to 4.9 hours in Q2 2015; this figure represents the lowest quarterly average cumulative hours of power supply received by Nigerians,” it said.

On the other hand, the highest average cumulative hours of power supply received by Nigerians from Q2 2013 to Q2 2015 was recorded at 7.1 hours.

NOIPolls said a direct effect of the poor power supply could be seen in the massive number of Nigerians (77.5 per cent) who had resorted to purchasing and using alternative sources of power (such as generators, inverters, and solar panels) for residential and business purposes.

“This has also created an additional strain on the finances of these households as these alternative sources are usually more expensive to maintain as opposed to direct power supply from Discos.”

Moreover, findings from previous NOIPolls power reports have shown that Nigerians typically spend between 3,302 – 3,726 on actual electricity supply while spending between 7,866 – 12,351 in running alternative sources of power supply within a 15-month period from (April 2014 to June 2015), according to the latest report.

“Despite the attempted reforms of the power sector by the Federal Government, Nigeria has not been able to generate more than 4,500 megawatts of electricity for over 170 million people.”

Copyright PUNCH.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Lalasticlala

.

Posted everywhere online is the idea that Obama is the anti Christ.i think people are just being disillusioned or confused.. You point fingers at a man who is only trying to protect the rights of people who are displaying Antichrist behaviour.i will list some reasons why you are the Antichrist not Obama.
1.you wear skimpy dresses to seduce men in oder to make them desire you sexually,and you boldly call Obama the Antichrist.when did seduction become a Christ like behaviou .
2.if I preach to you about Jesus and his love for you, you either snob me or bash me. And you think you are Christlike.
3.you quote me abusing everything about me and you call another man the Antichrist?
4.you beat up your wife and call Obama the Antichrist.
5.you disobey God by commiting various sins and you call Obama the antichrist.
6.you secretly feast on porn day and night and you call Obama the Antichrist.
An Antichrist is a personality or entity, spiritual or physical that tries to resist, refuse or reject the supremacy of Christ. Before you call Obama the Antichrist, ask yourself a simple question. AM I EXHIBITING antichristlike behaviours??

5starmilitant:
I will always see this as witch-hunt, until I see buhari's abobakus in court. Ameachi et all. All of dem are looters

very sensible indeed.

BeeBeeOoh:
I get rice but, no sauce..

take yam no.

dammytosh:
Voluntary Retirement ?

Is he a Togolese ? Cos Nigerians don't resign voluntarily

m also surprised

oshinadekunle:
Six years in office is too much, na his baba work?

lol

President Muhammadu Buhari on Monday assured Nigerians that no amount of pressure that could be mounted on him would make him give up the ongoing war he is waging against corruption in the country.

Buhari, who was represented by his Special Adviser on Media and Publicity, Mr. Femi Adesina, said this while addressing some protesters who stormed the Presidential Villa to encourage him to continue his ongoing anti-corruption war.

The placards-wielding protesters, under the aegis of the Nigerians Against Corruption group, were led by Aisha Yesufu.

They were stopped at the gate of the Presidential Villa close to the Supreme Court by security operatives.

Buhari thereafter dispatched Adesina and his Senior Special Assistant on Media and Publicity, Garba Shehu, to address them.

While promising that he would not relent in the prosecution of the war against corruption, the President, however, promised that he would give due regard for the rule of law while carrying out the task.

The President said all persons charged with stealing the nation’s resources would have their day in court.

He added that upon conviction, their ill-gotten wealth would be seized and returned to government coffers.

He said, “I believe it is time for Nigeria to change course. That is why I sought election as President and got elected.

“As President, I am determined that Nigeria must move away from a course of endemic corruption that was leading us to perdition.

“No matter the pressure and entreaties, the anti-corruption war will continue and all accused persons will have their day in court.”

The President also reiterated his commitment to curbing insecurity in the country and boosting employment opportunities for Nigerians, especially the youth.

He called for the continued support and solidarity of Nigerians as the present administration worked to correct the wrongs of the past.

The protesters assured the President that the vast majority of ordinary Nigerians fully supported his ongoing efforts to curb corruption.

They urged him not to be deterred by the antics of those who do not share his laudable vision of a fairer, more equitable, corruption-free and progressive nation.

Inscriptions on some of the placards carried by the protesters read, “I voted Buhari to fight corruption,” “Govs and their deputies must declare their‎ assets,” ‎”NASS, epitome of corruption,” and “President and VP must declare their assets,” among others.

deadZONE:
''CUSTOMER'' or ''CUSTOMS''
bullshit.

don't mind this Android phones. Thanks anyways

President Muhammadu Buhari has accepted the resignation of the Comptroller-General of the Nigeria Customs Service, Alhaji Dikko Abdullahi.

With the acceptance, Abdullahi is expected to proceed on voluntary retirement from Tuesday (today).

He had earlier written a letter dated August 3 to the President in which he notified Buhari of his desire to proceed on voluntary retirement from Tuesday.

Buhari’s approval of Abdullahi’s request was dated August 14 and personally signed by the President.

He thanked the NCS boss for his services to the country in the last six years.

The President’s letter was titled, “Voluntary retirement from the Nigeria Customs Service.”

The approval read, “Dear, Alhaji D.I. Abdullahi. I write to acknowledge the receipt of your letter Ref. No. NCS/ADM/HQ/P. 35802 of 3rd August, 2015 conveying your decision to voluntarily retire from the Nigeria Customs Service with effect from Tuesday, August 18, 2015.

“I note with appreciation your services to this nation, especially as the Comptroller-General of the Nigeria Customs Service in the last six years.

“Accordingly, I hereby approve your voluntary retirement from the Nigeria Customs Service with effect from 18th of August, 2015.

“I wish you the very best in your future endeavours.

“Yours sincerely, Muhammadu Buhari.”

Abdullahi had in his letter to the President thanked him for the confidence and trust reposed on him since he (Buhari) was inaugurated on May 29.

He said by August 18, he would be six years in office as the Comptroller-General of the NCS.

He recalled that on assumption of office, he articulated a six-point agenda which he vigorously pursued.

He said the agenda had positively impacted on the efficiency and performance of officers of the service and had drastically changed the negative perception of the service.

He listed the six-point agenda to include capacity building, introduction of e-Customs, enhancing productivity through improved welfare package, moral rebirth for discipline and integrity in service, collaboration and partnering stakeholders and international organisations, as well as fostering understanding of the Service in the eye of the general public using an intensified and a well-coordinated public relations platform.

He added that the decision to resign “is taken with a view to allowing young people to take over the mantle of leadership of the service in order to sustain and improve on my legacy.”

The President has yet to name Abdullahi’s successor at the time of filing this report.

Speaking with State House correspondents shortly after paying a farewell visit to President Buhari at the Presidential Villa, Abuja on Monday, Abdullahi said he had nothing to fear about the ongoing investigation of revenue-earning agencies being conducted by the Federal Government.

Abdullahi said revenue appreciated under his watch by 20 per cent.

He said, “The only way the NCS can move forward is by sacrifice; to give chance to others so that they can continue with the legacy that we have up in place.

“Revenue appreciated by 20 per cent from when I took over and the officers that did the work are still around and I think that the NCS, I stand to be corrected, is the only service that is fully automated in the system of operation.

“We have no fear. The time I’m leaving is the time I feel those young ones that have developed the software can manage the software.

“So, that is basically the reason.”

Copyright PUNCH.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

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lordmayor4:
I receive am lol

bless you