₦airaland Forum

awodman: This is a sample of the locomotives expected in Dec...picture was sourced from the presentation of the transport minister @ the ministerial platform

Nigeria Deposit Insurance Corporation (NDIC) has rated 10 banks out of the 24 banks in the country, sound in 2012. In its Annual Report and Statement of Account for last year, the corporation affirmed that the sector was relatively stable in 2012 as no bank was found to be unsound as at December 31, 2012. But it declined to name the banks adjudged sound.

Also, a total of 3,380 fraud cases involving the sum of ₦17.97 billion with expected/contingent loss of about ₦4.52 billion in 2012 were recorded in the period under review while the expected/contingent loss had increased by ₦455 million or 10.9 per cent as against ₦4.072 billion reported in 2011. Notwithstanding the 43.7 per cent increase in the number of reported fraud cases from 2,352 in 2011 to 3,380 in 2012, the amount involved decreased by 36.4 per cent from ₦28.40 billion in 2011 to ₦18.04 billion in 2012.

“In the year under review, the licences of 24 Primary Mortgage Banks (PMBs) which had hitherto closed shop and were unable to meet obligations to their depositors and creditors were revoked by the Central Bank of Nigeria (CBN) and NDIC was subsequently appointed as liquidator. As at December 2012, 310 out of the 323 Microfinance Banks (MFBs) that rendered returns had met the minimum paid-up capital of ₦20 million. A total of 302 MFBs had capital adequacy ratio of more than 10 per cent. The remaining 555 did not render returns and that situation continued to be a source of concern to NDIC as it was impossible to assess their financial condition and performance on a continuous basis during the year under review,” the report said.

The corporation also paid a cumulative sum of ₦6.82 billion to 528,212 insured depositors of closed banks by December 31, 2012 as against ₦6.68 billion paid to 527,942 insured depositors as at December 31, 2011.

Similarly, the report noted, a total sum of N2.505 billion was paid to 75,322 verified depositors of 95 out of 103 closed MFBs during the year as against the sum of ₦2.249 billion paid to 72,062 verified depositors in 2011 whereas the sum of N73.58 billion had been paid as liquidation dividend to 250,209 depositors of Deposit Money Banks (DMBs) as at December 31, 2012.

“It is pertinent to indicate that a total of 14 out of the 34 banks-in-liquidation prior to 2006 had declared a final dividend of 100 per cent of their total deposits, indicating that all depositors of the affected closed banks had fully recovered their deposits” it said.

untainted: I totally agree that strike actions have adverse effect on education but strike is the only weapon available to ASUU.
Government signs an agreement and refuses to implement it after 4 years.
ASUU calls press conference appealing to government and all Nigerians: Government remains unperturbed.
ASUU goes on strike and someone says there are better ways to agitate.
Please if you have a better weapon than strike say it and stop telling striking workers to find it.

Yorubest: [b]Brilliant piece Uncle Femi but I disagree with some parts of this write up

Imprisonment in my opinion isn't deportation

It is also clear that Lagos isn't the first state to relocate beggars and destitutes from other states in a bid to reduce the stretch on its infrastructure by unnecessary influx of people from other states except there is a separate special Federal allocation to cater for this.

Must you come to Lagos to beg? Begging, as a venture, does not require any start up capital or ingenuity.

Just imagine all the beggars and jobless Nigerians thronging Lagos, I'm sure every person that has raised an eyebrow about this action will call for their removal because they will be ready tools for crime and will sit and beg at your front porch, your office gates, line the streets, the markets, your children's schools, your churches, your mosques, your restaurants etc. Should they require medical attention, they will be admitted into the same hospitals government is building ... And I ask, at whose cost? Lagos gets a federal allocation just like every other state these people come from. The other day, one woman from Delta State was wailing and begging at Alausa, asking BRF to help. If BRF had helped this woman, who comes from a state that receives about the most from the FG, what will be the consequence? The next day, a thousand women from the state and others will line the streets of Alausa. BRF's action is aimed at making other governors responsible for their citizens.

Anambra, Akwa Ibom and Abuja have at different times removed indigent non indigenes

Abia's termination of the appointment of non indigenes in its civil service is even a worse form of injustice

From the submission, it is clear that apart from the fact that the relocated Igbos were dumped at 3am (although the explanation was that there was a traffic hitch), there is nothing new, strange and unusual in the move as even Anambra has done same before. Till date, we don't know what has become of those destitutes Anambra picked. Maybe they were dumped at 3am in Kano or even killed or thrown into the river. Who knows?

I also believe that Obi should have contacted BRF directly and its a shame that he still hasn't till date despite being contacted by BRF before the action was taken

Obi has also not in any way offered financial or social first aid to the victims but has chosen to politicize the event

I know some people will not agree with me and I'm not posting this to court anyone's favor or support but if BRF had some blame in this, Obi has an even worse blame[/b]

CyberG: No relationship for a disrespectful guest. If you cannot live by our laws and leadership that we trust, please go quickly and never come back!

States, including Lagos state, receive revenue from the Federal Government purse on the basis of how many Nigerians that live in their state. Not on the basis of how many Nigerians are from their state. I know for a fact that during the last census exercise Lagos state Government mounted a serious media campaign tinged with blackmail to demand that non-indigenes, especially Ndigbo, do not leave for their state of origin to be counted. They were even threatened with loss of properties and social services if they travel to their states to be counted. No exception was made for "destitute, street traders, beggars etc". I challenge anyone here or in Lagos state government to come out openly and state that Lagos state government asked destitute etc to return to their "families" or "state of origin" then. Let me also know if Obi and other SE governors received letters then from Fashola to come and retrieve their "destitute" to be counted in the east.

We were told that among the 67 deportees only 14 were from Anambra State. At least Senator Ngige said so. If that is true, permit me to ask, what is the basis of dumping all 67 in Anambra? Is that where their families are? Or is Anambra now the capital of Igbo land? Isn't the message clearly that of "they are your people, take care of them"? Doesn't that sound like ethnic cleansing to my brother Kelechi and our erudite Senator Ngige? So Fashola wrote Obi and told him he was sending all "Igbo destitute" from Imo, Anambra, Abia, Ebonyi and Enugu to him to take care since they have blood relationship with him? Or don't those states have governors that can be written or even compelled to receive their deportees? Am I the only one reading tribal sentiments into this whole rubbish? And yet Onwa Chris Ngige saw nothing wrong? Odikwa egwu o.

mikeansy: I disagree, Anambra State allocation from FG is the same whether PDP or APGA is in power because state allocation is enshrined in law!

Also a strong regional party can go into coalition for the purpose of Presidential politics but at least remain strong in their base.

I think it is time to change the focus of Igbo politics from looking for any vehicle whatsoever to produce a President who speaks Igbo to a politics focused on more important things like creating an economic hub in the South East!

Alumnus: I intend to constantly invest a certain percentage of my salary on stocks for few coming years. But am confused on whether to make individual investment or go through Mutual Fund managers. I have been investing individually with my small funds before now but haven't tried mutual fund before.

Please your experiences and advice on Mutual funds in Nigeria will be greatly appreciated.