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African Union officially recognises Libya’s new leadership
on SEPTEMBER 20, 2011 · in NEWS
     
JOHANNESBURG (AFP) – The African Union has officially recognised Libya’s National Transitional Council as the country’s legitimate leadership, the group’s chairman said in a statement Tuesday.

The announcement was transmitted by the office of South African President Jacob Zuma, six days after he hosted a meeting of the AU’s special panel on Libya in Pretoria.

The president of Equatorial Guinea, Teodoro Obiang Nguema, who holds the bloc’s rotating chair, made the announcement after consulting with the panel in New York, ahead of the UN General Assembly, the statement said.

Obiang Nguema “hereby announces that the African Union recognises the National Transitional Council (NTC) as the representative of the Libyan people as they form an all-inclusive transitional government that will occupy the Libyan seat at the African Union.”

“The African Union stands ready to support the Libyan people… as they rebuild their country towards a united, democratic, peaceful and prosperous Libya,” it said.

The AU’s reluctance to formally recognise Libya’s new leadership had created a split on the continent, as about 20 nations had already established ties.

At the AU panel’s meeting last week in Pretoria, the group had “committed itself to working with the NTC” but stopped short of formally recognising it.

The AU has doggedly stuck to its own “roadmap” to the Libyan conflict and criticised the NATO bombing campaign.

The rebellion had rejected the AU proposal, insisting on the removal of Moamer Kadhafi from power.

But earlier this month, the NTC gave assurances that it would work to meet key concerns of the African Union, promising that they remained committed to the African continent and to building national unity after Kadhafi’s ouster, the statement said.

The NTC also promised to protect foreign workers, including black Africans, following allegations that many had been detained on suspicions they had worked as mercenaries for Kadhafi.
http://www.google.com/hostednews/afp/article/ALeqM5h2NflCTWlrw96Cs-Ts7A7Xcem2dA?docId=CNG.a8a1185f4a08d2928999ea8643dc5bd9.501

Omooba77:
I weep for Nigeria because the post of some of us shows our level of reasoning is so low. It was Sahara Reporters that made so much noise about interviewing the family member of Yusuf Mohammed visited by OBJ. What other group member thought is that this man will review their secrets.So they eliminated him. Please blame SR and co that exposed the man to his death.

chamber2:
Exactly my thought. The only crime i have seen here is that he executed an ''unauthorised'' trading. However, had he been successful he would be rolling home with a lot of bonuses and promotion. He would have been tagged an astute analyst. Now that he failed, he's been called a ''rogue trader.'' So much for the world of finance.

In the early 1980s, Nick Leeson landed a job as a clerk with royal bank Coutts, followed by a string of jobs with other banks, ending up with Barings, where he quickly made an impression and was promoted to the trading floor.


A Young Nick Leeson

Before long, he was appointed manager of a new operation in futures markets on the Singapore Monetary Exchange (SIMEX) and was soon making millions for Barings by betting on the future direction of the Nikkei Index. His bosses back in London, who viewed with glee his large profits, trusted the whizzkid. Leeson and his wife Lisa seemed to have everything: a salary of £50,000 with bonuses of up to £150,000, weekends in exotic places, a smart apartment and frequent parties and to top it all they even seemed to be very much in love.

Barings believed that it wasn't exposed to any losses because Leeson claimed that he was executing purchase orders on behalf of a client. What the company did not realise is that it was responsible for error account 88888 where Leeson hid his losses. This account had been set up to cover up a mistake made by an inexperienced team member, which led to a loss of £20,000. Leeson now used this account to cover his own mounting losses.

As the losses grew, Leeson requested extra funds to continue trading, hoping to extricate himself from the mess by more deals. Over three months he bought more than 20,000 futures contracts worth about $180,000 each in a vain attempt to move the market. Some three quarters of the $1.3 billion he lost Barrings resulted from these trades. When Barings executives discovered what had happened, they informed the Bank of England that Barings was effectively bust. In his wake Nick Leeson had wiped out the 233 year old Baring investment Bank, who proudly counted HM The Queen as a client. The $1.3 billion dollars of liabilities he had run up was more than the entire capital and reserves of the bank.

Eventually arrested in Frankfurt, Germany, Nick spent a few fraught months trying to escape extradition to Singapore. He failed and in December 1995 a court in Singapore sentenced him to six and a half years in prison. Lisa his wife got a job as an airhostess to be able to visit him regularly. At first, their marriage survived the strain of being apart, but what Lisa could not abide were his revelations of his infidelity with Geisha girls and she divorced him. Within months, Leeson was diagnosed as suffering from cancer of the colon. His weight plummeted and most of his hair fell out from chemotherapy.

Finally released in 1999, and despite his return to the UK bringing a realisation that the high life had been swept away — he was effectively homeless and without a job — Nick enjoyed a fairly hedonistic first year seeing friends and family but also continuing his cancer treatment.

Nick Leeson has proved his resilience and has been able to capitalise on his experiences. He was paid a substantial fee for the newspaper serialisation of his book in The Mail. The story was then turned into a film, Rogue Trader, starring Ewan McGregor. During 2001 he undertook a Psychology degree and Nick now spends much of his time presenting talks to companies on Risk Management and undertaking after-dinner and conference speaking based on his life experiences.

With a psychology degree and a second marriage to Irish beautician Leona Tormay, (with her own children Kersty and Alex) after trying for a baby they were delighted when, in 2004, Leona gave birth to a baby boy. Nick comments; “I'm of the mindset that cancer must not take you over and control your life. I do believe that the more positive you are, the greater your chance of survival." his advice to others is never to bottle up stress as he himself did: "You need to talk and express yourself as I now do to Leona. With cancer as with other problems, it's amazing how adaptable human beings are, and you will be able to cope provided you keep a strong frame of mind."

In April 2005 Nick was appointed Commercial Manager of Galway United Football Club, rising to the position of General Manager in late November 2005. The same year Nick published his second book Back from the Brink, Coping with Stress co-written with psychologist Ivan Tyrell. July 2007 saw his appointed as CEO of the football club where he remained in this position until his resignation in February 2011. Nick remains a shareholder of Galway United and continues to represent the club with the Football Association of Ireland.
http://www.nickleeson.com/biography/index.html

nolongtin:
you tube views equals money or wot am i readin here, how does d views equals to money 4 psquare?
if dbanj is signed to GOOD music and his CDS/music can be bought in any country in d world,but gets 1million views,
and psquare hits 10million views on youtube,but der CDS/music cannot be bought anywhr apart frm 9ja.
who is makin money?
p2 views are more dan some american acts but d fact dat der CDS are globally sold,unlike 9ja which is mostly pirated.
anytin dats expands your reach,fame,brand must be encouraged.
quote me and mark dis words as reference+P2 WILL DO A COLLABO wit a foreign act sooner or later dan expected. and will eat der word.i bet u

Stromae:
My friend stop lying, this is clearly another case of "Dokpesi, na we do am" and "it is not MEND, I know who actually carried out the bombing" all over again, and we know how all previous cases have ended (or are proceeding).

Demdem:
and smarter than GEJ

Jarus:
You can never catch baba off-guard!

From Kolade Lrrewaju
ABEOKUTA – FORMER President Olusegun Obasanjo, Wednesday, reacted to the comments about him made by  former President Ibrahim Babangida saying that he [IBB] was being foolish as his comments were not well though out.

According to him, former President Babangida should be pitied and shown sympathy rather than anger or condemnation as he was being foolish at the age of 70.


Obasanjo who spoke with news men in Abeokuta during the visit of an American Team on an inspection of the Olusegun Obasanjo Presidential Library [OOPL] said that his initial thought was not to respond but that on second thought he decided to reply IBB so that he would not consider himself wise.

He said  “well, normally when I read these things I don’t believe them. Yesterday when somebody phoned me and said this was said, I said don’t believe it. He said check on all the papers and I said get me all the papers, they got me the papers and I read; it’s a little bit unlike Babangida.

[b]But if Babangida had decided on becoming a septuagenarian, that he will be a fool, I think one should probably do what the Bible says in Proverbs chapter 26, verse 4. It says don’t answer a fool because you may also become like him.

“When you go to the same Proverbs chapter 26, verse 5, it says answer a fool so that he will not think he’s a wise man. So, I am now torn between which of the two verses I should follow in this respect. Some of the things he said unfortunately were not well thought-out.

“For instance, he talked about our energy. When I was the military head of state, I built Jebba dam; built Shiroro dam, I prepared the foundation of Egbin plant which President Shagari completed and commissioned. That time the money we were making was not up to the money Babangida was making annually for his eight years and yet we built two dams.

Because it was important, you know that power is the driving force for development and for any developing country. But since the building of Egbin power plant, until I came back in 1999 there was not any generating plant for almost 20 years and Babangida spent eight years out of that. Now, he has the audacity to talk about anybody; I think that is unfortunate.

“I also read where he said in his time, he gave the dividends of democracy and at the same time he regretted. When I read that, well I said Babangida should be pitied and shown sympathy rather than anger or condemnation because the old saying says a fool at 40 is a fool forever and I would say a regret at 70 is a regret too late. Well a regret at 70 is a regret to the grave.[/b]
“Then as elected president, I built Papalanto, Omotosho, others and I started five what they called Independent Power Stations which were stopped for two and a half years. Now that the present administration has started building a new power project at Uyo. As a country, Nigeria should be adding nothing less than 1,500 megawatts annually. South Africa with a population of 50 million generates 50,000 mega watts.

Nigeria with a population of about 165 million we are not generating, we as at 1999 met 1,500 mega watts before we took it up to 4,000 mega watts. What we started they are now allowing it to go on. I believe if they continue with the programme that we left, In another two years , we will get to 10,000”.

Further straightning issues, the former Presdent confirmed that he in fact blocked the sale of Nigeria Airways saying such a sale would have put the Nigeria nation in further debt.

He said “I blocked the sale of Nigeria Airways, not that I attempted to block the sale of Nigeria Airways. When I was military head of state, Nigeria Airways had 32 aircrafts, by the time I came back as elected president of Nigeria, Nigeria Airways had only one aircraft.

“One of the 32 was a wide bodied aircraft, they have all gone and the report on which we worked is here, the amount of money we will have to pay if Nigeria Airways was sold, what we would get out of it is less than 10 percent of the debt we have to pay. That will be the debt Nigeria tax payers will have to pay; that will not be the way to run the affairs of this country. I won’t run my own affairs that way, so I opted for liquidation. So, it was bankrupt, it was liquidated; in which case whatever you gain from liquidation which is also a form of sale, it means the burden will be shared by all the creditors and everybody. So, if I owe you 10 dollars and what I sell when I am liquidated is two. That’s what you get. So, I did not allow normal privatization or sale because it would have put very heavy burden on Nigeria.

“So, Nigerians should know that and in fact my administration should be commended for that. It’s not that I did not allow that sale because the law establishing it is sale and liquidation is also a form of sale”.

Akainzo:
You are trying too hard to convince even yourself. All schools have academic calendars and thus some cut-off dates for completion of all course works. Once you complete it in time for that year's graduation, then you graduate in that year and you're awarded your degree.

Note it clearly, your year of graduation is the year your school publishes your name, as that is when they certify that you have completed all academic work and they also find your worthy of being called a graduate of that school. Prior to that time, you are still a student, even if you have no course work. This is why your certificate is always dated with your year of graduation.

In this particular case, I would like to know if her certificate reads 1987 or 1992.

antitpiah:
Obviously you are in the UK, so your POV matters not in this case.

Secondly, the day you walk isnt technically the day you graduate.

You graduate once you've completed the necessary coursework for your degree

Now, go play with yourself.

antitpiah:
example please?


The day you get your pali is the day you graduate.

Once you are done, you are done.

antitpiah:
Stop saying things you have no idea about.

If you have no idea, just STFU

Uche2008:
sanusi sacking does not involve 2/3 of the senate.

Jonathan can sack sanusi , anytime he want. and replace him . Sanusi position is a presidential appointment and not a political appointment.

The president does not need the senate to sack sanusi. The president only need the senate to approve sanusi replacement.

Lagos (WorldStage Newsonline)-- The Nigeria Deposit Insurance Corporation (NDIC) on Friday announced revocation of the operating licenses of Afribank Nigeria Plc, Spring Bank Plc and BankPHB on the excuse that they have not shown capacity and ability to recapitalise before the September 30 deadline.

Managing Director of NDIC, Alhaji Umaru Ibrahim told journalists in Lagos on Friday that the assets and liabilities of the three affected banks had been transferred to Bridge Banks effective August 5, 2011.
The Bridge Banks include MainStreet Bank Limited, Keystone Bank Limited and Enterprise Bank Limited.
Under the new arrangement, MainStreet Bank Limited takes over the assets and liabilities of Afribank; Keystone Bank Limited assumes the assets and liabilities of Bank PHB while Enterprise Bank Limited takes over that of Spring Bank.
Ibrahim explained that the Bridge Banks are being run by the NDIC as growing concern, adding that the managements of the affected banks appointed by the CBN in 2009 have ceased to be the working for the apex bank and the respective banks.
He said that the corporation by the provision of the Bridge Bank option in law to resolve the problem in the banking sector, stating that option was a veritable tool to enhancing depositors’ protection.
“This move became necessary to restore the confidence of the stakeholders in the banking industry. The banks would still be run as a going concern by the NDIC through the Bridge Banks mechanism. Meanwhile the CBN appointed management cease to be employers of CBN but are now under the NDIC,” he said.
Umaru said the choice of the Bridge Bank option was arrived at in order to avoid the liquidation which would have had dire consequences for depositors and undermine public confidence in the banking system, stressing that despite the change in nomenclature, depositors would soon have access to their deposits and could transact business as usual.
He added that this will promote confidence by ensuring seamless continuity of banking operations,
The NDIC boss further said that the corporation will keep operating the Bridge Banks until such a time it would engage the AMCON.
The CBN has given a tacit approval to the action, stressing that the action would ensure that public confidence in the banking sector is not eroded and that depositors’ funds are safe.
A statement issued by the apex bank tagged “ Re resolution of recapitalization through bridge banks” saying “The CBN is aware of, and supports, the decision of NDIC, to exercise its statutory powers under the NDIC Act.”
The apex bank noted that the new development would ensure seamless business continuity, adding that the Bridge Banks would meet obligations to depositors and lender-creditors as they arise.
It assured that it would grant all waivers, forbearances and exemptions necessary for their operations. Consequently, it has extended the interbank guarantee to December 31.
The three banks are among the those rescued by the CBN in 2009 when their managements were sacked, while the apex bank injected N620 billion. However, four of the banks- Intercontinental Bank, Union Bank, Finbank and Oceanic Bank had made progress in their recapitalisation plans, having gotten core investors.
Story by Nkechi Naeche (nkechinaeche@yahoo.com)
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