₦airaland Forum

biafransoul:
Thank God the Daura President get little sense today. Well done

Gradually you will be eating your words of hate for PMB.

I salute my amiable presidooooooo

Jaiz Bank Plc, has declared a profit of
N157.7 million for the financial year
ended December 2014.

By this, the bank has broken even after
three years of operations as the first
and only fully fledged non-interest
bank in Nigeria.

Chairman of the bank, Dr Umaru Abdul
Mutallab, while speaking at the bank’s
third annual general meeting, in Abuja,
yesterday said the profit was a feat
considering that there was no platform
yet for the bank to make income from
its treasury management activities due
to the absence of Sharia complaint
liquidity instruments in the market.

According to Mutallab, Jaiz Bank could
not invest in the normal treasury bills,
bonds among others as they do not meet
the ethical requirements of the bank.
He therefore called for a national Sukuk
bond, that would give them a wider
range of investment opportunities.

Also speaking, managing director and
chief executive officer of the bank,
Muhammad Nurul Islam, said the
profitability was driven by continuing
revenue growth, disciplined cost
management and lower financing
impairment expenses.

Islam said the bank limited its
expenditure growth to only 20 per cent,
even expanded its branch network from
10 to 15 during the 2014 financial year.
Shareholders of the bank, while
commending the bank for the profit,
however, called on the management to
work seriously towards recapitalising it
to fast-track its expansion to other
parts of the country.

The bank with 17 branches currently
operates as a regional bank, licensed to
operate in the north-west and north-
eastern parts of the country, and seeks
to increase the number to 25 by the end
of this year.

During the year under review, the bank
grew its total assets by about 24 per cent
from N33.9 billion in 2013 to N42 billion
in 2014.

Also, total earnings grew by 114 per cent
from N11.5 billion to N24.5 billion, while
total income increased by 220 per cent
from N915 million to N2.94 billion by
December 2014.

According to the MD, the bank provided
financing to about 1, 076 projects
valued at N22.2 billion in 2014, as
against 375 valued at N10.5 billion the
previous year.

http://leadership.ng/news/439795/jaiz-bank-breaks-even-records-n158m-first-profit

Jaiz Bank Plc, has declared a profit of
N157.7 million for the financial year
ended December 2014.

By this, the bank has broken even after
three years of operations as the first
and only fully fledged non-interest
bank in Nigeria.

Chairman of the bank, Dr Umaru Abdul
Mutallab, while speaking at the bank’s
third annual general meeting, in Abuja,
yesterday said the profit was a feat
considering that there was no platform
yet for the bank to make income from
its treasury management activities due
to the absence of Sharia complaint
liquidity instruments in the market.

According to Mutallab, Jaiz Bank could
not invest in the normal treasury bills,
bonds among others as they do not meet
the ethical requirements of the bank.
He therefore called for a national Sukuk
bond, that would give them a wider
range of investment opportunities.
Also speaking, managing director and
chief executive officer of the bank,
Muhammad Nurul Islam, said the
profitability was driven by continuing
revenue growth, disciplined cost
management and lower financing
impairment expenses.

Islam said the bank limited its
expenditure growth to only 20 per cent,
even expanded its branch network from
10 to 15 during the 2014 financial year.
Shareholders of the bank, while
commending the bank for the profit,
however, called on the management to
work seriously towards recapitalising it
to fast-track its expansion to other
parts of the country.

The bank with 17 branches currently
operates as a regional bank, licensed to
operate in the north-west and north-
eastern parts of the country, and seeks
to increase the number to 25 by the end
of this year.

During the year under review, the bank
grew its total assets by about 24 per cent
from N33.9 billion in 2013 to N42 billion
in 2014.

Also, total earnings grew by 114 per cent
from N11.5 billion to N24.5 billion, while
total income increased by 220 per cent
from N915 million to N2.94 billion by
December 2014.

According to the MD, the bank provided
financing to about 1, 076 projects
valued at N22.2 billion in 2014, as
against 375 valued at N10.5 billion the
previous year.


http://leadership.ng/news/439795/jaiz-bank-breaks-even-records-n158m-first-profit

cc: lalasticlala

The real work has started, those who crippled the economy of this country are now refunding one after the other. About 7 billion dollars have now been traced and the thieves identified. They are bringing the funds back in an unusual way.
Some unusual situations need unusual approach.
cc lalasticlala

Facing a huge cash crisis, President
Muhammadu Buhari has resorted to unusual
strategies for recovering some of the funds
stolen from Nigeria’s treasury through a series
of shady deals between former Petroleum
Minister Diezani Alison-Madueke and a group
of indigenous oil companies and oil marketers
she and former President Goodluck Jonathan
favored.

Facing a huge cash crisis, President Muhammadu
Buhari has resorted to unusual strategies for
recovering some of the funds stolen from
Nigeria’s treasury through a series of shady deals
between former Petroleum Minister Diezani Alison-
Madueke and a group of indigenous oil companies and
oil marketers she and former President Goodluck
Jonathan favored.

Former Governor of the Central Bank of Nigeria,
Sanusi Lamido Sanusi, brought the part of the illicit
deals to public attention when he alerted Nigerians
that the Nigerian National Petroleum Corporation
(NNPC) had failed to deposit $20 billion of oil
revenues with the CBN. In addition, Mrs. Alison-
Madueke had inked some deals, with the blessing of
former President Jonathan, involving oil swaps and the
transfer of certain oil wells reclaimed from
multinational oil companies to shady Nigerian
operators, including Jide Omokore and Kola Aluko.

An investigation by SaharaReporters discovered that
President Buhari’s administration has begun the
difficult and complex process of retrieving some of the
missing petro-billions. One approach so far adopted by
the new president is aimed at addressing the fuel
scarcity that has harmed the Nigerian economy and
threatens to paralyze the country’s economic
activities, according to highly placed officials in the
government.

But one exception involves Mr. Omokore whose
Atlantic Atlantic Energy Oil Company was involved in
the controversial concession of oil wells. A source at
the Presidency told SaharaReporters that Mr. Omokore
had volunteered to return $500 million to the Federal
Government. However, the source added that
President Buhari nixed the deal based on information
that Mr. Omokore, believed to be a front for Mr.
Jonathan and Mrs. Alison-Madueke, is in possession of
$4.5 billion of funds that should have been deposited
in the federation account.

The sources told SaharaReporters that the
government’s immediate strategy involved targeting oil
marketers and companies “caught red-handed in
stealing huge sums of oil subsidies and oil revenues.”
The government has pressured these companies and
their owners to agree to repay the stolen monies
traced to them by immediately importing more fuel
into Nigeria.

The sources said the Buhari government has recorded
significant early success in getting some oil marketers
and their companies to accept the fuel-for-funds
deals. “A number of them have agreed to import
massive levels of fuel in lieu of the funds they
received in shady transactions during the Jonathan
administration,” one Presidency source claimed.

Another source revealed that the administration had
started out by putting pressure on former Petroleum
Minister, Diezani Alison-Madueke. She was reportedly
quick to deny responsibility for the illicit deals with the
oil marketers. Instead, she squealed on her
subordinates in the NNPC, accusing them of
structuring and doctoring the deals that robbed Nigeria
of billions of dollars.

“The [Buhari] government got her to write a formal
account of her allegations against some NNPC
officials and oil companies. What she put down gave a
picture of how some of the funds went missing. The
document was then forwarded to the Economic and
Financial Crimes Commission (EFCC) in the form of a
petition,” one source said.

Mrs. Alison-Madueke’s “petition” reportedly named all
the persons involved in the massive fraud in the oil
sector, including some past and serving officials of the
NNPC. Our sources said those she implicated in the
NNPC include the current General Managing Director
(GMD), Haruna Momoh, a former GMD, Austen Oniwon,
Reginald Stanley and Sam Okeke, a former Group
General Manager, New Business Division of the NNPC.

An EFCC source told SaharaReporters that a crack
team of investigators was currently working on the
former minister’s petition. He said the document had
revealed new facts previously unknown by EFCC
agents and Nigeria’s intelligence officials at
Department of State Services (DSS). Among the
scams disclosed by the former minister is information
that at least four companies involved in an oil swap
deal had not accounted for huge sums that should
have been remitted to the account of the Nigerian
government.

Among the companies implicated in her “petition,”
Transfigura was reportedly unable to account for $80
million, Televeras $111million, while Aiteo apparently
gulped down $150 million. Other oil firms named in the
defrauding of the Nigerian people are Ontario, which
failed to account for $135 million, and Sahara Energy,
accused of skipping the payment of $120 million to
the government.

Our EFCC source revealed that two companies,
Transfigura and Sahara Energy, had made some
gesture towards paying back some missing funds.
However, a source at the Presidency told our
correspondent that “so far the reconciliation has
involved just paperwork and has not scratched the
heart of the scam.” Investigators described Aiteo and
Ontario as particularly problematic because they have
completely cooked their records. An investigator also
disclosed that the two companies are most directly
linked to Mrs. Alison-Madueke and former President
Jonathan. Both Ms. Alison-Madueke and Mr. Jonathan
are currently in the UK, with the former Petroleum
Minister reportedly undergoing a weeklong cancer
therapy.

Some of the companies have agreed in principle to
return the funds by bartering imported fuel for the
funds they acquired illegally.

Our sources disclosed that other downstream
companies caught in the storm of missing and stolen
funds include Forte Oil, owned by businessman Femi
Otedola, Folawiyo Energy, and, Oando, owned by Wale
Tinubu and Honeywell Oil Company owned by Oba
Otudeko.

Officials of the Buhari administration declined to give
official confirmation of the stolen assets recovery
process relating to other officials of the Jonathan
Presidency.

http://saharareporters.com/2015/06/10/stolen-assets-recovery-buhari-demands-fuel-imports-oil-marketers-implicated-fraud

where are those e-worrios of buhari show your certificate in Nairaland. have they found it yet or have they found another wahala to do... I no hear ram 2days.

Buhari be like: "is good to be in the army. As old as i am but i walk pass them all. I deserve a gold medal for that"

Buhari be like: "is good to be in the army. As old as i am but i walk pass them all. I deserve a gold medal for coming first"

Comment, Like and Share

temitemi1:
U neva ask that ur allah to protect those innocents people those monsters are killing in the name of that ur allah but u can asked that ur allah to help buhari in far away germany... U and that ur allah need to develop some sense... Nonsense!!

See yourself. See your life. As pity as you are...... So pity

Yevgeny:
where is d pic?

Check now you will see. It failed the first time

My presido looks presentable

May Allah help you where ever you are
Long live PMB

Cc: lalasticlala

ahaz:
who cares about the name don't be surprised u might not find a single hausa man among the team but Una rush give am hausa name

I will really be suprise because hausas had been for long displaying potentialities in engineering field such as a 24 years old Mohammed Abdullahi who build a helicopter

ebamma:
In just 1week in government, we are beginning to see the scam called Buhari,
What angered me was when one pro Apc poster here, told us not to disrespect Buhari or call him names, then I remembered how this same guy was busy calling president Jonathan, Jonadunce, Jonathan, etc during his tenure.
So guys let's make a name list we can always tap from, for this quota General who has 150 cows
1)LieHari
2)ScamHari
3)CowHari
4)MbuHari
5)loanHari-remember that loan he took to buy nomination form
6)Dullhari
7)419hari
one chanceHari
Abeg all strong PDP guys and unbelievers in this Change gospel bandied by StoleHari and Tinubu
Add more names abeg, we need an at least 100

What is wrong with you and all your alike Nairaland TANoids. Are you still campaigning for GEJ? Please wake up PMB is already of President.

I like the name of the drone "GULMA" more than the drone sef. GULMA is a Hausa language meaning GOSSIP

Come back! We are not done with you.... EFCC are knoking your door at otuoke. So dont stay for so long.

ekenedegreat:
Why are you mistaken Obj and tinubu to be Igbo? because they are the only thieves known in nija.

According to you.

Why Nigeria? Why not leave the world and go to Mars?

Before you (Igbos) leave Nigeria make sure you return all our oil money you have stolen by then you will be free to go in peace but i wonder which country in the world will welcome thiefs?

Masu gudu su gudu.

.

Follow the link and see it for yourself

http://www.bbc.com/news/world-africa-32147656

Follow the link and see for yourself:

http://www.bbc.com/news/world-africa-32147656

Please someone read, make a recording and upload it for me.....

I am tired of reading rubbish.

The United States government is likely to sanction
Dame Patience Jonathan, Godsday Orubebe, a
former Niger Delta minister, Ibrahim Shema, the
governor of Katsina state, and other Nigerians
accused of either inciting violence or disrupting
elections in the country.

According to Premium Times, Linda Thomas-
Greenfield, the US Assistant Secretary of State for
African Affairs, in a statement issued on Monday,
April 20, said that the USA would shut its doors on
people involved in any form of violence during the
polls.

“Anyone found to have incited violence or interfered
with electoral processes will be unwelcome in the
United States and subject to visa sanctions,” she said.

It is worth mentioning that Ms Thomas-Greenfield
did not give names of those considered for
sanctions.

However, Orubebe appears one of the most likely
targets. It would be recalled that the former minister
openly disrupted the process of collation of the
presidential election results on March 31, 2015, in
Abuja. Orubebe received worldwide condemnation
for his actions, and later apologized for his behavior

Patience Jonathan had said at the Peoples
Democratic Party Women Campaign in Calabar,
Cross River state, that anyone chanting change
should be stoned .

“I’m telling you, anyone that comes and tell you
change, stone that person,” she said. “What you did
not do 19 kilikili, is now that age has caught up with
you, you want to come and change? You can’t change
rather you will turn back to a baby. You will turn back
to a baby. From old age nothing, so nothing like
change. Rather (it) is continuity.”

The sanctions may also target Governor Shema of
Katsina state, who was caught on tape encouraging
his supporters to physically assault and kill
opposition politicians in the state. He described
members of the opposition as “cockroaches”.

Tele Ikuru, the deputy governor of Rivers State, had
also during a campaign rally in the state, called on
the people to fight and redeem the state from the
All Progressives Congress even if it means shedding
their blood.

“It is necessary for the sake of your fathers, for the
sake of your mothers, for the sake of your brothers
and sisters and for the sake of your children. Every
Rivers man must stand up to fight this evil among us.

“If it demands your blood, so be it,” Ikuru said.

Several other politicians may also be sanctioned
after investigations into dozens of election-related
violence are completed.

Ms Thomas-Greenfield said, while the elections were
generally without a significant scale of violence, and
irregularities in some parts of Nigeria, some people
were resolved to undermine the will of Nigerians and
interfere with electoral processes, resorting to
violence and voter intimidation.

She said the US regretted any loss of life and
property during the process, adding that violence
and rigging was unacceptable in a democratic
electoral process.

She commended the INEC and its chair, Attahiru
Jega, called on Nigeria to continue to explore the
use of relevant technologies in future elections.

“Despite some technical glitches, it is clear that
technology and use of social media-INEC’s online
posting of results for each polling unit, live tweeting of
results, the use of biometric permanent voter cards
and electronic card readers- improved efficiency and
limited fraud.”

Before Nigeria’s general elections, the US President,
Barack Obama, had stated that successful elections
and democratic progress would help Nigeria meet
the urgent challenges Nigerians face today.

“Now more than ever, it is up to all Nigerians to stay
united so that Nigeria can move forward with a clear
set of priorities for the future.

“This next phase is critical as the world continues its
hopeful watch for what happens in Nigeria,” Ms
Thomas-Greenfield said.

According to her, the conclusion of a peaceful
electoral process in Nigeria will serve as an example
to other nation preparing for elections. She added
that the US looked forward to the inauguration of
the president elect, Muhammadu Buhari, on May 29
and the beginning of a new chapter of the
relationship between the two countries.

http://www.naij.com/424992-us-to-impose-visa-sanctions.html?pk_campaign=ush

Angoni:
When is this illiterate old fool from Daura going to stop yapping!

When your professors learn how to read figures

Nellybii:
So he should stop welcoming visitors and stop granting interviews until he is sworn in Abi? If he is asked specific questions he should just tell them to relax that he is waiting to be sworn in Abi? I wonder what fuels this type of negative behavior

I like sensible people like you who steer senseless people like the one you quoted

brofula:
Buhari also plan how to to send your feloow northeners to school during your tenure, remember illiteracy is one of the major reason for BOKO haram in Nigeria, we dont want a repeat of what you, IBB, GOWON, ABACHA, Abdulsalam, and ATIKU did to your region by starving them of education all this while. today they are all over the country as shoe makers and terrorist.

But the Almajiris are at least better than a professor who cannot read figures.

And for your information, Almajiris no be illiterates because they all get PVCs... Ask your mama peace. I am sure she will acknowledge to you

.

realest247:
Obvious Cow.

Your action and words make me get the real meaning of MUMU.

In Hindu's voice:
You are what is referred to as ULLUKA FATTEH

DaGC:
If fruitful, then I'm up for it. A better Nigeria favours us all. I didn't vote for him, but wouldn't go as far as sabotaging his administration just to discredit him. I just don't want most of his supporters here making excuses for him. They should allow him carry out his election promises, and we'll re-evaluate in 4years time, because going by the way the campaigns went, I think its fair to say that he can solve majority of Nigeria's problems in 4years.

Because you were so blind to realise who GMB is...

Dude that guy is something else.... I warn you not to underestimate the power of our great General

Ebubeslym:
better get ready Young man.
the amount of constructive criticism that will bombard Buhari in the next couple of yrs will make Jonathan's critics look like learners.

I only hope the General survives it.

In less than two months you will be eating your words. Buhari will be a great example of good leadership to Africa....

I remember, you GEJites and your stupid Robotic behaviour were saying GMB will only be a president in a dream land and now that he is a president, you saying he will not deliver his promises.

You and your clueless leader were defeated then and you will be defeated now..... So hang yourself in shame.