₦airaland Forum

The National Drug Law Enforcement Agency has called on businessman and politician, Mr. Buruji Kashamu, to concentrate on the facts of his suit to stop his extradition to the US rather than dragging former President Olusegun Obasanjo and former Deputy National Chairman of the Peoples Democratic Party, Chief Olabode George, into his personal problem.

This was contained in a statement by the NDLEA spokesman, Mitchell Ofoyeju, on Sunday.

Ofoyeju reiterated that a formal request for the extradition of Kashamu, a Senator-elect in Ogun State on the platform of the PDP, had been received from the Embassy of the United States of America.

The statement read in part, “According to official report, Kashamu has been on the wanted list of both the US Drug Enforcement Administration and Immigration and Customs Enforcement of the Department of Homeland Security.

“Kashamu was indicted in the Northern District of Illinois, United States, on charges brought against him by ICE.

“According to the United States court documents, Kashamu, in his days as the leader of a prolific heroin trafficking ring based in Chicago, Illinois, was known as ‘God,’ ‘Daddy,’ and ‘Kasmal’.

“He is wanted to stand trial on charges of conspiracy and importation of controlled substances, namely heroin, into the United States dating back to 1994.”

Ofoyeju added that Kashamu had taken multiple pre-emptive actions to thwart US extradition efforts such as making fanciful claims that “his is a case of mistaken identity, and that his deceased brother was responsible for the crimes he is being sought after in the United States.”

Media aide to Kashamu, Austin Oniyokor, however, berated the anti-narcotic agency for acting as the mouthpiece for Obasanjo and George.

In a statement on Sunday, he added that his principal had already addressed his issues by heading for the court and intimating it of a plot to illegally abduct him.

The statement read in part, “We do not know when the NDLEA becomes the spokespersons for Chief Olusegun Obasanjo and Chief Bode George. We do not need them to tell us to address our issues.

“We are addressing our issues. We had told the court on the planned abduction of Kashamu and the NDLEA was represented.

“The court had given an order asking all the parties to stay action pending the determination of the suit which had been fixed for Wednesday.”

Oniyokor had noted in the statement that it was obvious that NDLEA was acting on the directive of Obasanjo and George by going against the court injunction.

“Are they lawless? Are they saying Nigeria is no longer being governed by rule of law and due process? Our facts have been put in the public domain. We have told the world about the planned abduction, “it stated

Oniyokor, however, said his principal had refused to see the NDLEA operatives because they could not produce a warrant for his arrest.

He said, if the agency produced the warrant of arrest, his principal “will handover himself to them but if not, he will not.”
www.punchng.com/news/face-your-problem-not-obasanjo-george-ndlea-tells-kashamu/

Sijo01:
I wonder why some tiny men fancy fat women

like seriously, you just define me. am allergic to flat chested tiny girls but I love them big mind you I don't have six pack

I will continue to post this on behalf of that dude called barcanista he is a genius his mind is a masterpiece he has a brain which is divided into left and right. in the left part nothing is right nd in the right part nothing is left. For him to think that our pres elect wont suceed when he take over.

Today is Sunday Incase if anyone come across dat
dude called barcanista tell him that Oga Officer of Nairaland say's "he
is a genius his mind is a masterpiece he has a
brain which is divided into left and right. in
the left part nothing is right nd in the right
part nothing is left. For him to think that our
pres elect wont suceed when he take over."

I will continue to post this on behalf of that
dude called barcanista he
is a genius his mind is a masterpiece he has a
brain which is divided into left and right. in
the left part nothing is right nd in the right
part nothing is left. For him to think that our
pres elect wont suceed when he take over.

I will continue to post this on behalf of that dude called barcanista he
is a genius his mind is a masterpiece he has a
brain which is divided into left and right. in
the left part nothing is right nd in the right
part nothing is left. For him to think that our
pres elect wont suceed when he take over.

Am posting this on behalf of barca.nis.ta. he is a genius his mind is a masterpiece he has a brain which is divided into left and right. in the left part nothing is right nd in the right part nothing is left. For him to think that our pres elect wont suceed when he take over.

Am posting this on behalf of barca.nis.ta. he is a genius his mind is a masterpiece he has a brain which is divided into left and right. in the left part nothing is right nd in the right part nothing is left. For him to think that our pres elect wont suceed when he take over.

is this your own definition of unclad!? toyin aimakhu 's dressing is worse than this while on set

Am posting this on behalf of barca.nis.ta. he is a genius his mind is a masterpiece he has a brain which is divided into left and right. in the left part nothing is right nd in the right part nothing is left. For him to think that our pres elect wont suceed when he take over.

na wa ooooo did woman na witch oooo she follow baba enta plane......

client

laykhorn:
I'm interested. Pls tell me more...

. https://www.nairaland.com/likesandshares

IME1:
how is it done and how long would it take to get your profit. also what re d risks

This is the third part of my series on fixed
income investments. A fortnight ago, we
discussed investing in Treasury Bills. Today, I
will guide you through investing in FGN
bonds.
What is a bond?
A bond is a contract between a lender and a
borrower, whereby the borrower agrees to pay
the lender interest and repay principal upon
maturity.
What is an FGN bond?
FGN bonds are debt instruments issued by
the Federal Government of Nigeria for an
agreed period of time. The investor lends an
amount of money to the government and
earns interest on the investment until the
maturity of the bond when the principal will
be returned.
What are the benefits of an FGN bond?
1. Interest received on FGN bonds is not
subject to tax.
2. Provides a stable income stream when held
to maturity.
3. Repayment is guaranteed at the maturity
of the bond.
4. FGN bonds can be used as collateral.
5. It is easily tradable as it is quoted on the
Nigerian Stock Exchange and can also be
traded over the counter.
Who can invest in FGN bonds?
Anyone can invest in a FGN bonds. They can
be individuals or corporate bodies.
When are FGN bonds issued?
The government sells bonds via the Debt
Management Office at a primary auction.
Freshly issued bonds usually take place on
the third Wednesday of every month.
What are the bond maturity terms?
FGN bonds have maturity years ranging from
five to 10 or 20 years. The maturity of a bond
is the number of years remaining for an
already issued bond to be due for payment of
principal.
Where and how do I invest in FGN bonds?
You can invest in bonds through a primary
dealer/market maker. PD/MMs can be banks,
investment houses, brokers etc. To invest,
simply approach your chosen PD/MMs and
fill a form including your personal
information, bank details for payment of your
interest, CSCS no’s, the amount you wish to
invest, including your bid interest rate etc.,
and then sign. You can invest a minimum of
N10,000 and multiples of N1,000 thereafter.
Why do I have to bid interest?
FGN bonds are sold via an auction system
where investors quote interest rates for bonds
they wish to buy. As such, bond applications
with interest rates that are below the
minimum average interest rates otherwise
called the marginal rate quoted are accepted
and those higher may be rejected. For
example, if the marginal rate is 12 per cent,
then bids below 12 per cent will be accepted.
Therefore, different investors can have
different interest rates provided it falls below
the minimum average bid price. Someone can
have 10 per cent, another 11 per cent, nine
per cent, 10.5 per cent etc.
What is the marginal rate for bonds and how
does it work?
Bonds are like any other financial assets and
are affected by interest rate pressures. As
such, despite the coupon rates, the FG
indicates it will pay. Bond buyers and sellers
determine the price of a bond based on its
expected yield. For example, FG offers for
sale FGN bond with a coupon rate of 10 per
cent. Thus, N100 units (bond price) of the
bond will earn N10 in coupon interest.
However, when you buy, the marginal rate
determines the price you pay. So, if the
marginal rate is 13 per cent, you pay N76.9
for a bond with a face value of N100 per
unit. This is derived by dividing the fixed
coupon (N10) by the expected yield of 13 per
cent (10/0.13) to arrive at N76.9. As such,
the N10 coupon that will produce a yield of
13 per cent will be based on a price of
N76.9. Basically, when the yield is higher
than the coupon, the bond price is sold at a
discount and when the premium is higher
than the yield, the bond price is sold at a
premium. The price or value of a bond is
therefore determined by the yield.
What other factors affect bond price?
A. The credit status of the issuer.
B. Forces of demand and supply of such
securities.
C. The inflation and interest rate movements.
Is there a secondary market?
You can buy or sell bonds in the secondary
market. So, for those who do not wish to hold
to maturity they can just go to the OTC
market on the floor of the Nigerian Stock
Exchange and trade.
How quickly can I convert bonds to cash?
If you do not wish to hold to maturity, you
can convert bonds to cash by selling it on
the secondary market through your PD/MMS.
When is the interest paid?
The coupon interest on FGN bonds is paid
semi-annually (twice a year) and will be
credited to the account that you indicated
when you filled the form.
Can my interest payments be rolled over on
top of the principal?
The coupon is not rolled over automatically.
It is credited to your accounts as cash.
However, you can then use the cash to
purchase the next round of bond sales should
you want to enjoy the benefits of
compounding interest.

Sparkles003:
pls what is fgn bond and how does one go bout it.

https://www.nairaland.com/1167218/how-invest-federal-government-bonds that is the link you capital is secured but you have to be patient before you start reaping. you can start with the minimum of 10,000

fgn bond come back and thank me later

congrats to her, but the masses never feel her impact .

asumo12:






u want make me and u start like shariareporters and agarawu23 for this thread?

You no go see draw

asumo12:
sauce plz

kainji dam

The Lagos State Commissioner for Education, Chief (Mrs.) Olayinka Oladunjoye has described the new Governor of Lagos State as an experienced personality that will consolidate on the achievements of his predecessor in office, Barrister Babatunde Fashola (SAN).
Speaking with a group of journalists after casting her vote in her home town, the humble Commissioner for Education stated that Governor Ambode is a professional that is well experienced in governance and will be able to deliver democracy dividends to the people of the state.
She explained further that between 1999-2007, Senator Bola Tinubu was able to lay a solid foundation for infrastructural development while Barrister Babatunde Fashola (SAN) was able to build on the Foundation between 2007-2015.
She pointed out that Governor Ambode Akinwunmi will consolidate on the impact and achievements of Governor Fashola so that Lagos will be made the best city in the world.
In her words: “Over the years, we have been able to put education on a firm ground in Lagos State and whoever will man the ministry would meet a strong foundation to build on and I have no fear in my mind that GovernorAmbode will build on the achievements of Barrister Fashola. So that Lagos will continue to have a brighter and rewarding future.

OduaVanguard:
Ok. And how much should we ask Jonathan to return? coz we haven't had it this bad (no light and no fuel to on our generators), not even under OBJ.

God bless you

.

November 2013, the Federal Government privatized the power sector of the nation in its drive towards ensuring that power supply is steady but recent developments have shown that there is no hope for constant power supply in the country.
Fourteen months of privatization, several localities are still in total darkness as a result of poor transformers and cables activities of the new firms handling the distribution of power in the country have showed that they are only after their private motive of making profits in the power sector thereby neglecting their primary responsibilities of generating steady power supply in the country.
Hopes of Nigerians are being dashed as the regulatory authority is more concerned with distribution of bills and disconnection of power supply even before the end of the month. For a country to be industrialized, one of the key factors that enhance the establishment of industries among other medium scale businesses is stable power supply but that has not been achieved in Nigeria since it got independence in 1960.
Power generation, transmission and distribution are left in the hands of incompetent personnel that do not have passion for the profession.
Consumers are made to suffer with this ugly trend as they pay exorbitantly for power which they have not consumed.
During the former President Obasanjo era it was reported that fifteen additional power stations were to be constructed in the country but this projects landed in the hands of corrupt persons as they only constructed three out of fifteen while the left over funds could not be accounted for.
With the privatization of the sector by the President Jonathan administration one will think that the new power firms will engage in the replaement of cables among other appliances so as to guarantee steady power supply but the reverse is the case as they have not been able to make any significant improvement in the sector. Some of their personnel are much more interested in their personal pockets rather than conceptualise innovations that will engender improved power transmission and distribution across all states of the federation.
Fifty four years after independence, South Africa and Ghana are celebrating 24 hours power supply. Nigeria which is the giant of Africa cannot celebrate 10 hours of power supply.
According to one of the personnel of the electricity company it was reported that for us to have steady power supply in the country, we need a generation of 15,000 mega watts of power while we need to expand the transmission and distribution lines but we need to start from some where.
In Nigeria, we still have transformers that are older than forty to fifty years while the life span of some distribution cable have been over stretched.
Who will rescue Nigeria from epileptic power supply? This question is waiting for answer as the present company currently managing the sector are not ready in any capacity to address this challenge.

I get one babe for here also that's her hobby

Er0ticAngela:
This is a very good news. The project should remain in Lagos State. If the argument for the decongestion of Lagos holds water, then the project should be relocated to either Ogun state or Ondo state both in the SouthWest, both states also have access to the Atlantic Ocean and crude oil deposits

Jonathan should enjoin his Niger Delta kinsmen to build such for them too in Bayelsa state. Mr Ladi Jadesinmi's project SHALL REMAIN IN THE SOUTH WEST

fixed

ShowYourCertificate:
These BH guys were once Buhari's foot soldiers. Now that they've been used and dumped, they're fighting for survival. This Boko Haram menace will be a nemesis that would haunt Buhari's administration. Worse still is that militancy and low oil revenue will further cripple BabaOneChance. I wish him the best though 

Please turn your
mobile phone up side down now
hurry!!!!
370HSSV 0773H mtcheeew

Osi o ra so ni gbagi. . .mtchw

Pdp+change

Halleluyah. . . And jona still expects vote from that part of the country, after failing them.

Iyalasisi:
I don't mind teaching him how to do the 'do' on the condition that he is a fast learner!

mummy lasisi, is baba lasisi a fast learner? You no even resemble "IYA" at all bt "SISI"

Shoro niyen. . . U-ve been saying that since the chibok gurlz saga started. Just pack your kaya and enjoy your life in otueke. Bt u sti try sha