₦airaland Forum

TonyeBarcanista:
My brother, I am solidly behind the good people of Taraba state and Governor Ishaku Darius. That woman and her sponsors should understand that Tarabans won't give in to her scam.

TimothyNkenu:
Bigot.

kayusely:
The woman was about to be declared winner in April but it was aborted at the last seconds but now she has been vindicated. Victory at last!

aresa:
The man is a lair, con man, a dunce and ignorant clown. He practically spew lies and opines ignorance every time he opens his mouth.

1. According to this ignorant ans shallow man, the Egyptian pyramids are grain storage structures built by Joseph where they store grains. This is utterly ignorant and idiotic.

2. Carson defended his lack of experience by claiming, Every signer of the Declaration of Independence had no elected office experience.That is utterly false: Many of the signatories, including Benjamin Franklin, Thomas Jefferson and John Adams, had been elected to colonial legislatures or other positions and indeed were partly chosen for the Continental Congress precisely because of their prominence as elected officials.

3. Ben Carson said the U.S. would be like communist Cuba if Fox News didn’t exist. Coming from a presidential candidates, that was dumb, ignorant and idiotic..


Joe Scarborough Ridicules Ben Carson's Pyramid Theory ...
http://talkingpointsmemo.com/livewire/scarborough-carson-pyramid-theory


Ben Carson is plain nuts: The 7 most stupefying statements by the GOP’s favorite neurosurgeon
http://www.salon.com/2015/09/30/the_7_most_impressively_stupid_things_ben_carson_has_said_partner/


Ben Carson Gives New Meaning to Crazy
http://www.thedailybeast.com/articles/2015/10/11/ben-carson-gives-new-meaning-to-crazy.html



The man is coo coo crazy...

Symphony007:
Ben carson is a disgrace! This is a lesson to everyone about greed and envy! Here is a retired accomplished doctor who could have lived the rest of his life in peace and honour and as a inspiration to many around the world including nigeria, rather jealousy led him to insult obama and seek to become president saying all sorts of outlandish things, now look at him today, all his lies in his books and profile are being exposed and sooner or later, he will drop out of the presidential race and will leave empty handed. No dignity, no presidency, no integrity.......GIFTED hands will becomes EMPTY hands.

Nigeria Financial Reporting Council didn't follow due process

Stanbic's shares have fallen 18% since FRC announcement

Nigeria’s central bank rejected a request by the country’s Financial Reporting Council to take disciplinary action against Standard Bank Group Ltd.’s local unit after the FRC said the lender had made material misstatements in its financial accounts and recommended a fine.

The FRC didn’t follow due process and the central bank is “unable to accede to your request to take disciplinary action against” Lagos-based Stanbic IBTC Holdings Plc, Governor Godwin Emefiele said in letter to the FRC dated Nov. 2 obtained by Bloomberg and confirmed on Wednesday by central bank spokesman Ibrahim Mu’azu. “We are seriously concerned that such a drastic regulatory decision could be taken on an entity under the regulation and supervision of the Central Bank of Nigeria without any form of consultation of the bank.”

The Nigerian unit of Africa’s largest lender by assets is among other major companies facing fines over the past two weeks from the West African nation’s regulators. The Nigerian Communications Commission imposed a $5.2 billion fine on Johannesburg-based MTN Group Ltd. for failing to disconnect customers with unregistered SIM cards. First Bank of Nigeria, the country’s biggest bank by assets, was hit with a $9.4 million fine over a directive to transfer deposits of state companies to the central bank.

“The CBN regulates banking, but when it comes to financial reporting issues, that is the FRC’s prerogative,” Mack Ogbamosa, a spokesman for the FRC, said by phone. “The CBN cannot question the FRC’s job.”

Investor Confidence

The FRC on Oct. 26 suspended the registration to sign off on financial statements of four past and current Stanbic officials, including Chief Executive Officer Sola David-Borha and Chairman Atedo Peterside. The issue under dispute is how to account for cross-border payments, according to Johannesburg-based Standard Bank, which said Stanbic has been treating payments to units of the lender in other African countries as liabilities.

The central bank "does not see any reason to advise or compel" Stanbic to obey the FRC’s rulings, Emefiele said in the letter. The manner of the regulator’s announcements and actions has the ability to erode investor confidence, Emefiele said, noting the 18 percent drop in Stanbic’s share price from Oct. 26 to Nov. 2.

Stanbic’s shares rose 5 percent to 19.85 naira at 11:53 a.m. in Lagos, Nigeria’s commercial capital, paring the decline since Oct. 26 to 14 percent.

“Regulators have started to take a tougher stance,” said Adesoji Solanke, the Lagos-based head of research at Renaissance Capital. “When you have regulators come out with such far-reaching announcements, investors react. At the very least, due process has to be followed.”

Stanbic’s proposed sale of 800 million shares had also been suspended by the Nigerian Securities Exchange Commission over the FRC investigation into the company’s financial statements. The share sale was approved a month after the bank announced plans in May to raise 24 billion naira ($121 million) of equity.

Standard Bank said in a statement on Wednesday it received a copy of Emefiele’s letter and welcomed the central bank’s intervention.

We start in Nigeria where the papers are speculating on the downsizing of President Mohammadu Buhari’s cabinet. This is after he reiterated that the economy cannot support 36 ministerial portfolios.


By William Niba

According to Vanguard, Buhari spoke his mind at a brief ceremony at the Presidential Villa in Abuja on Tuesday, after receiving the list of confirmed ministerial nominees from Senate President Bukola Saraki. No date has been scheduled for the inauguration of the cabinet.

The newspaper reports that the President’s remarks have caused tension among the ministers-designate who have been hanging around Abuja and waiting for a call from the Presidency to come and assume office.

Meanwhile, a former minister of transport and aviation, Chief Ebenezer Babatope, took a swipe at President Muhammadu Buhari Tuesday for declaring that Nigeria is broke.

Babatope, who is a member of the Board of Trustees of the Peoples Democratic Party (PDP), told Daily Sun that the opposition party and Nigerians were watching Buhari to see how he would handle the economy with all the “noise” the All Progressives Congress made during the 2015 general elections.

On the president’s intention to have ministers without portfolios, Babatope said the southern part of the country had been cheated through various appointments Buhari has made so far which were mostly in favour of the north.

In South Africa, BusinessDay has breaking news from Nigeria for MTN after Nigerian authorities announced the renewal of the mobile phone service provider's licence for another five years.

The paper says MTN stock rose 5% to close at R155.54 after Tuesday’s announcement. However, according to the paper, it is still caught up in a crisis over a $5.2bn fine from the Nigerian Communications Commission for unregistered SIM cards on its network.

MTN’s original licence was issued in 2001 and is due to expire in February next year. The five-year licence period is much shorter and could put further pressure on MTN in its single largest market.

MTN said it would have to pay a spectrum fee of $94.2m by the end of December and the licence was "conditional upon MTN fulfilling all its regulatory obligations."

Mail and Guardian warns that South Africa is in danger of becoming a radicalized society. That’s according to a column published by Mail and Guardian this Wednesday as the country comes to terms with the “no school fees” campaign.

The paper claims that are similarities between what’s happening today and the mood in South Africa in the 1940s – the results of which altered the country’s course, for the worse.
The Johannesburg publication holds in the article that “exclusivist nationalists” pursue a form of nationalism that is driven primarily by a keen sense of distinctiveness. They desire to elevate it at the expense of others. Radical actors locate their policy goals toward one pole of the policy spectrum and create polarisation. They express an urgency to achieve their goals, evident in an unwillingness to bargain or be patient.

For Mail and Guardian, moderates realise that inherent in democracy is a core tension requiring significant maturity – that of balancing. They also grasp that for the sustainable future of a democracy, it is imperative that certain ingredients come to the fore such as moderation, which recognises and accommodates differing political beliefs; pragmatism, instead of a rigid ideological approach; a measure of institutional and social trust; willingness to compromise; and civility, which implies a respect for other views.

TonyeBarcanista:
I mean the circumstance leading to his resignation

TonyeBarcanista:
I suspect foul play... But I wish him well