₦airaland Forum

OYINBOGOJU:
WELL, WHAT SHE HAS DONE SURPASS WHAT YOU ARE SEING HERE,

SHE HAS STEPPED ON TOES

KEEP READING IT YOURSELF UNTIL WHEN YOU GET TO HEAR FROM GUYS HOW BADLY HER REPUTATION HAS DAMAGED.

I STARTED THE THREAD BUT YOU WILL GET MANY CONFIRMATIONS FROM FELLOW NAIRALANDERS.

SHE MIGHT THINK SHE IS BEAUTIFUL, BUT HER BLOOD IS FULL OF POISON,  WAIT FOR THE CONFIRMATIONS AS I SAID.

Do you know she is a MOD?

Foot soldiers are trooping in here in droves  

Okay

[quote author=Abbey_city link=topic=346904.msg4865603#msg4865603 date=1257418788]lol okay i tot it's Asian u're talkg bt!!!!! [/quote]You must be an expert in pushing buttons

But you sound harmless sha

[quote author=Abbey_city link=topic=346904.msg4865461#msg4865461 date=1257417330]Yeah Asians but dis's hw she spell it in her profile Ashan[/quote]Thread softly 

I fully get you now. 

First Bank of Nigeria Plc has recorded a plunge in its profit after-tax for the six months ended September 30. The profit fall comes in spite of the 32 per cent increase in revenues for the period in view.

The unaudited financial results which were released at the floor of the Nigerian Stock Exchange (NSE) yesterday, showed gross earnings of N128.1 billion, against the N96.9 billion recorded in the corresponding period in 2008.

Profit before tax stood at N3.2 billion compared with N30 billion in 2008; a decrease of 89 per cent, while profit after tax dropped to N2.2 billion from N23.8 billion in 2008; a decrease of 91 per cent. Total Assets recorded during the period grew by 14 per cent; from N1.8 trillion in 2008 to N2.0 trillion.

Bad loans

Bisi Onasanya, Group Managing Director of First Bank, in a statement, attributed the low performance to the company's provision for bad loans.

He said, "2009 has been a tough trading environment for the Nigerian banking sector. While First Bank has not been immune to such challenges, we have emerged stronger from the financial crisis. In line with our conservative nature, we have taken provision in excess of the N20.1 billion mandated by the Central Bank of Nigeria. We believe that subsequent recoveries of these loans will have positive impact on our performance in coming periods. Importantly, we continue to win market share as one of the longstanding, trusted institutions in the country."

Mr. Onasanya affirms that First Bank remains committed to "capturing synergistic value through further diversification of the bank's business model, supported by enhanced cost efficiencies and a strong capital base." He added that "First Bank strong capital adequacy ratio of 22 per cent and stable funding base allows it to withstand short-term pressures without deviating from our long-term objectives."

Ola Oyelola, the bank's Group Chief Financial Officer, said First Bank cannot deny the impact the global financial crisis has had on its performance, especially with regard to its customer base.

He, however, said, "We (First Bank) have made further prudent provisions against the value of loans and investments on our balance sheet. This allows us to provide a transparent view of the bank's assets at the end of the period, as well as look forward with confidence that the impact of the prevailing market environment has been largely recognised."

Future plans

First Bank said it plans, over the next 12 months, to focus on solidifying its leadership position within the Nigerian financial services industry by "leveraging its scale advantages, for example: distribution network, and balance sheet strength, which will serve customers better and more efficiently."

The bank, in the statement, noted "in all its businesses, economies of scale and scope - in areas such as operations, marketing and sales, and risk management - are critical to success."

Source Here

The Securities and Exchange commission says it has uncovered N180 billion owed by stockbrokers to banks. The staggering amount is mostly made of nonperforming loans. The decline in prices of capital market stocks, which were used to secure the loans means many of the stockbrokers are unable to pay or even service the loans.

These disclosures were made to the House of Representatives Committee on Capital Market by the Acting Director of the Securities and Exchange Commission (SEC), Daisy Ekineh. Ms. Ekineh was speaking to the Aliyu Wadada chaired committee when they paid a visit to the commission offices in Abuja on Wednesday.

According to her, the Commission discovered the indebtedness while inspecting 24 stockbrokers and seven fund managers with their trustees and registrars. The commission is intensifying its on-and-off site inspection of operators and stockbrokers and fund managers are among the first group to be inspected.

According to Ms. Ekineh "Most of the inspected stockbrokers are still heavily exposed to banks as their total indebtedness was about ₦180 billion. With the considerable decline in the value of stocks, most of the firms have been unable to repay their loans which they mostly secured with stocks. ‘‘As at June 2009, of the 301 stock broking firms, 157 or 52 per cent were indebted to the tune of ₦296.23 billion while the value of their investment in quoted securities stood at ₦176.0 billion",

It is not clear, if the N180 billion announced by Ms. Ekineh is separate from the N296.3 billion owed by the brokers as at June 2009, or if the amount represents what is outstanding from the total debt portfolio of five months ago.


A costly legacy

Ms. Ekineh's disclosures have brought again to the fore, the unholy alliance that existed between some banks and stockbrokers during the boom years, and for which the Nigerian economy is now paying the price. In those days, it was not unusual for a bank to loan stockbrokers money with the explicit instruction of utilising it for margin trading. This enabled the prices of bank stocks to sky rocket even when there was nothing tangible driving the price.

This manipulation was detailed in a ‘NEXT on Sunday' exclusive report which examined the life and times of Peter Ololo, the most indebted stockbroker. We reported that "the capital market witnessed an unprecedented boom during this time, between late 2006 and early 2008, the regulating securities and exchange commission, especially under Mr. Musa Al-Faki (who was relieved of the position in May this year) was relegated to inconsequence by a cartel that included some stockbrokers, banks executives, and officials of the Nigerian Stock Exchange (NSE)."

And Peter, "Ololo was a principal actor in that environment," a NEXT source said, adding that this cabal made it a mission to crush the prospect of corporate governance in the market environment, weakening transparency wherever it could be found.

Ultimately, as another stock market insider said to NEXT, "the typology of crime in the Nigerian capital market revolves around five key principles: insider trading, share manipulation, regulatory failure, regulatory collaboration, and outright fraud." The momentum driving all these, according to the lady, is good ole greed.

"The types of Ololo thrived on information, which is the oxygen of the market, and if you have insider information plus easy credit line as he had from the bank chiefs, you can afford to drive the market in the furious style Ololo did," said a broker from a rival outfit who, like Mr. Ololo, also dealt solely in institutional stocks''

Not all doom and gloom

But it is not all bad news according to Ms Ekineh who says despite the manipulations in the banking and capital market sectors, SEC has recorded ₦5.14 trillion market capitalisation as at October this year, adding there was a marginal increase of ₦0.2 billion over the ₦4.88 trillion that was recorded at the end of January this year.

She also told the lawmakers that the commission has directed all operators to make full and immediate provisions for their impaired capital by November 15, 2009. However to guarantee fair hearing, the SEC boss said the commission had instituted an Administrative Proceeding Committee (APC) "to hear market operators who may have breached provisions of ISA and SEC rules" following the action of the EFCC and the regulatory bodies in the capital market on weak banks.

Source Here

[quote author=Abbey_city link=topic=346904.msg4865353#msg4865353 date=1257416062]@POSTER

i hate ashan's dey eat human xpecially blacks [/quote]Asians right?

You guys can also visit this thread

https://www.nairaland.com/nigeria/topic-294521.0.html

lovemoi2:
that is so cool man, thanks

If it works please do come back later to let us know and if not, we can still dig deep more to see how it works.

To stop Getting Replies Step 1

Make sure the option Notify me of replies [/b]is unchecked before clicking on the reply button.

---

[b] Step 2

Click on Unsubscribe to this topic at the bottom of the message you received in your email and choose the[b] No [/b] option when asked to confirm.

---

Step 3

Click on the Subscribe [/b]option at the top of the topic you have been receiving replies then choose [b]Ok. Each time you click on it the subscribe option the notification questions alternate itself if you want to subscribe or not.

Please don't mind the poor graphics ooo

Why would such a thread like this make the front page?

There is no source this is reality news

No offense intended please but can you kindly correct your sentence before

C K:
Pharoh, What Change Are You Talking About. Can You Proof To Them You Wrote Your SSCE Or Neco Exams Yourself Without You Getting Anything From Your Teachers In School?
Please Don't Be An Alakoba Ok.

Before i answer your questions in red, what do you mean by the other post in black?

Go to the ministry of education or bodies responsible for regulating this schools like NUC and co.

I am running a masters program in Information Security, it is free and you can finish up at the university but it is not official. You write the exams from your home or anywhere you are. There are others so tell me what field or what program do you have in mind. When the application is nearing i will post more details here or send it to you.

First Bank of Nigeria Plc has recorded a plunge in its profit after-tax for the six months ended September 30. The profit fall comes in spite of the 32 per cent increase in revenues for the period in view.

The unaudited financial results which were released at the floor of the Nigerian Stock Exchange (NSE) yesterday, showed gross earnings of N128.1 billion, against the N96.9 billion recorded in the corresponding period in 2008.

Profit before tax stood at N3.2 billion compared with N30 billion in 2008; a decrease of 89 per cent, while profit after tax dropped to N2.2 billion from N23.8 billion in 2008; a decrease of 91 per cent. Total Assets recorded during the period grew by 14 per cent; from N1.8 trillion in 2008 to N2.0 trillion.

Bad loans

Bisi Onasanya, Group Managing Director of First Bank, in a statement, attributed the low performance to the company's provision for bad loans.

He said, "2009 has been a tough trading environment for the Nigerian banking sector. While First Bank has not been immune to such challenges, we have emerged stronger from the financial crisis. In line with our conservative nature, we have taken provision in excess of the N20.1 billion mandated by the Central Bank of Nigeria. We believe that subsequent recoveries of these loans will have positive impact on our performance in coming periods. Importantly, we continue to win market share as one of the longstanding, trusted institutions in the country."

Mr. Onasanya affirms that First Bank remains committed to "capturing synergistic value through further diversification of the bank's business model, supported by enhanced cost efficiencies and a strong capital base." He added that "First Bank strong capital adequacy ratio of 22 per cent and stable funding base allows it to withstand short-term pressures without deviating from our long-term objectives."

Ola Oyelola, the bank's Group Chief Financial Officer, said First Bank cannot deny the impact the global financial crisis has had on its performance, especially with regard to its customer base.

He, however, said, "We (First Bank) have made further prudent provisions against the value of loans and investments on our balance sheet. This allows us to provide a transparent view of the bank's assets at the end of the period, as well as look forward with confidence that the impact of the prevailing market environment has been largely recognised."

Future plans

First Bank said it plans, over the next 12 months, to focus on solidifying its leadership position within the Nigerian financial services industry by "leveraging its scale advantages, for example: distribution network, and balance sheet strength, which will serve customers better and more efficiently."

The bank, in the statement, noted "in all its businesses, economies of scale and scope - in areas such as operations, marketing and sales, and risk management - are critical to success."

Source Here

A torrent is a software used to share files over the internet through peer to peer networks.

You should download and install this http://www.filehippo.com/download_utorrent/
] torrent  Torrent software

Than go to sites like This and search for the name of the games you want to play. Download the torrent link and open it in  u torrent. It will take some time to download on your PC. Then install and play the Game.

Note the torrent link you downloaded must be for PC Games.

Brother you have a lot to gain by visiting other sections and gain something useful instead of looking for GF.

Google and torrent sites should be your friend.

skfa1:
So where should they go? has the universities in Nigeria admitted all the students? Lets think.

It is not about admitting the students but doing things the proper way, the polytechnics were meant to train science, engineering and technology students. They also fall under the category of advance technical and vocational education.

They also train some business students that more inclined to trade and lower end employees in a business organization.

Even if all the schools are allowed to run freely we will still have this problems.  The admission problem we are having today has its roots from the secondary school education where most people run to the commercial classes because they feel science and technical classes are too difficult.

We are producing too much business students from the secondary schools that the higher institutions can absorb and also Nigeria does not need such amount.  Let me stop here because i am just deviating from the thread. It is a topic for another day.

jkcarz:
Admission for autumn 2010 for non europeans starts december 1 and ends january 15.

Good Job Tack Tack

This is good news and what i have been waiting for, only if they will sincerely go about this project to produce the needed change.

I can be of help too.

Polytechnics were not meant to train large quantities of business students so the above decision was right.

Yes they are and i am running one now.

I have to Thank God for your life and your story, it was really touching and i will always want to read the rest of it. The young generation needs story like this to motivate them to greater heights. I have to thank you mother with all my heart and also your father as well.

Who ever God has blessed there is no man who can curse him.

How does this post relate to our education system?

You should have posted this in the webmaster section if it is a site review you are actually thinking about.

10 months from now the cycle will still repeat itself. and i would like to cheap in that everyone is to be blamed for this failure.

Government
Parents
Tutors
Society ( The Greatest )
Education Bodies.