This is so typical of these guys. . . like a thief who gets caught, the first thing would be out-right denial, then memory loss. bleeping enemies of progress!

Kobojunkie:

This has absolutely nothing with aligning oneself, but carefully processing data made public to make sure one is not right now witnessing a crime of some sort by the behavior of this agency.

If the MDs were involved in taking huge sums as non- collateralized loans from their own banks, then go after the MDs IF it is found that said action is illegal and against the law. The banks needing resuscitation is no excuse for the EFCC to turn debt collection agency, given that the loans were lawfully given out to bank customers. It is NOT illegal in Nigeria to accept a non- collateralized loan from any bank.

The banks were private entities, not government controlled when the loans were given out. For the government to now take it on itself to blame the problem on bank loan holders is a crime against these men, in my opinion. Who will be next? Small business owners? This all seems more and more like a witch hunt the more you process information coming out. The EFCC does not seem to have much on these men except for their holding debts belonging to said banks.

And the last time I checked, you were also against the EFCC for going after the bank MDs. Is it totally unfounded that the EFCC thinks, or have evidence to the fact, that indeed these borrowers colluded with the MDs of these banks? Maybe there’s no more corruption in Nigeria. I will find it very difficult to believe that a bank MD that have no moral/professional qualms with giving himself a huge non-collateralized loan will turn down a nice juicy kickback.

But we each can define our moral compasses the way we want, it is a free country, I for one choose that which interacts with majority of Nigerians fairly. You may even believe that these guys have not hurt anyone; they’ve not hurt the financial sector, therefore the economy in any, way shape, or form,. . . for reasons best known to you.

Kobojunkie:

This has absolutely nothing with aligning oneself, but carefully processing data made public to make sure one is not right now witnessing a crime of some sort by the behavior of this agency.

If the MDs were involved in taking huge sums as non- collateralized loans from their own banks, then go after the MDs IF it is found that said action is illegal and against the law. The banks needing resuscitation is no excuse for the EFCC to turn debt collection agency, given that the loans were lawfully given out to bank customers. It is NOT illegal in Nigeria to accept a non- collateralized loan from any bank.

The banks were private entities, not government controlled when the loans were given out. For the government to now take it on itself to blame the problem on bank loan holders is a crime against these men, in my opinion. Who will be next? Small business owners? This all seems more and more like a witch hunt the more you process information coming out. The EFCC does not seem to have much on these men except for their holding debts belonging to said banks.

At least we agree on one thing - the banks did indeed need to be bailed out by the FEDs (taxpayers’ money thru the CBN).

If you provide financial support to a company facing bankruptcy and liquidation, would you do it for free, or would you do it in order to have a holding interest in that company – maybe you did it by buying the said company’s shares and thereby stopping it from going burst. What if the shares you purchased turns to be majority shares, wouldn’t you be by default have control of the said company?

Now, can you tell me why the feds did not just let the bank go under?

What would happen to investors’ monies in the banks?

And are there any set of legislation binding banks – do banks follow some set of rules stipulated by the banking regulator (I presume, CBN)? Are there any lending practices that banks should follow?

Whose money is the bank loaning out?
Should the bank protect the interests of those their monies are being loaned out? And if they don’t protect the owners of these monies, is it their loss, if the loans are not paid back – and should the regulator just let these unlucky folks wither away? Are bank deposits insured?

Do banks require collateral? Do loans have to be serviced on a timely basis, and why?

If you answer is “YES” to most of these questions, then you have no argument here. If on the other hand your answer is “NO”, then you need not worry about the little guy or small business needing loan from the bank to grow his business – because there will be no money left in the bank, when these unscrupulous sharks are thru.

Kobojunkie:

So, you are saying that

a) the EFCC has Evidence that the loan holders have no intent to pay on the loans? At what point did the EFCC decide it was its place to take on the role of debt collection agency in this situation?

b) the banks somehow know that these debtors have no intent to pay on these loans? Questions i) when did the banks discover the intent ii) What did the banks themselves do on discovering this? iii) Did the banks follow legal routes to get the money back?

c) If bank management was facilliating this illicit behaviour, as you claim, why were shareholders unaware of this?

I don’t think we need to align ourselves blindly. . . even when the facts are right in front of our noses.

Did these banks need resuscitation form the CBN… maybe that was a sham as well?

Were the MDs of these banks involved in taking huge sums as non-collateralized loans from their own banks… this is also cooked up by the feds?

Why don’t we just allow the loans to be unpaid, and not serviced, indefinitely – after all we’re in Nigeria – everything goes. This will probably be more to your liking.

If this ever get done, commerce in Nigeria will definitely improve by a magntude - all aspects of trade, local and foreign, will be greatly enhanced. Which would bring much needed development to other parts of the country.

From Kunle Aderinokun in Abuja, 10.15.2009

In an effort to achieve 6000 megawatts of electricity in the country by December this year, the Federal Government has disbursed $4.6 billion for the financing of Niger Delta Power Projects, National Integrated Power Projects (NIPP) and Mambila Power Projects, amongst others.
The Federal Government embarked on the resuscitation of the abandoned NIPP following the agreement it reached with the state governments to re-finance it.

The project, initiated by former President Olusegun Obasanjo in 2005, had been stalled following accusations of inflation of contracts.
Speaking to THISDAY in Abuja yesterday, a highly placed government official said the money under a Power Sector Special Intervention Fund (PSSIF) would create an enabling environment for the Federal Government to make the December deadline realisable.
He said the PSSIF is included in a total of about $9 billion that had been withdrawn from the excess crude savings account (ECA) and shared amongst the three tiers of government. 

The $9 billion excess crude proceeds also include the $2 billion recently withdrawn to reflate and the $2.1 billion shared earlier in the year.
According to him, the fact that 11 states had not sent their approvals to the Federal Ministry of Finance to effect disbursement of their contributions for power projects, did not imply that their state Houses of Assembly had not ratified the decision which was jointly reached by all the states, forming membership of Federation Account Allocation Committee (FAAC).

The source argued that the states had actually secured approvals from their legislative arms, adding that bureaucracy of government might have delayed the receipt of such by the Ministry of Finance.

FAAC, a major part of which are the 36 states, had in June last year approved the withdrawal of $5.37 billion from the excess crude account to support the financing of power projects across the country in the yet-to-be declared emergency on power.

Each state was requested to secure approval from their state Houses of Assembly to transfer their contributions.

Minister of State for Finance, Mr. Remi Babalola, had at the monthly FAAC meeting Monday lamented that: “Our record reveals that eleven states have not forwarded the approvals of their States Houses of Assembly for the transfer of their contributions and that of their local Government Councils from the Excess Crude Savings Account to the Power Sector Special Intervention Fund. This is affecting the remittance of funds to the Steering Committee on Emergency Power.

“Members are advised to liaise with the Director, Home Finance to find out if their states are affected and expediently process the approvals of their State Houses of Assembly on the matter

http://www.thisdayonline.com/nview.php?id=157125

By Oluwaseyi Bangudu and Daniel Osunkoya


October 15, 2009 02:26AMT


Peter Ololo, Femi Otedola, Aliko Dangote, Jimoh Ibrahim, and Michael Oyewole and their companies are among the prominent names in the new list of bank debtors released by the Central Bank of Nigeria (CBN) yesterday.

Former Vice-President Atiku Abubakar, was also named among the debtors to Spring Bank. He is said to be owing the bank over N101 million.

The total amount owed by the debtors to the four troubled banks identified by the CBN, in the second audit of 14 banks, is in excess of N348billion. The CBN classified the loans as nonperforming. The troubled banks are: BankPHB, Springbank, Equitorial Trust Bank and Unity Bank

However, the N348billion excludes debts owed to Wema Bank Plc. The CBN did not list the total amount of loans owed to the bank on its website, Wema Bank was given until the end of June, next year to recapitalise.

Top of the list
Debts owed to Bank PHB topped the debtors' chart, with over N170billion as at October 5. Spring Bank followed with the second highest of over N95billion as at September 30. Equitorial Trust Bank was next with N46 billion as at June 30 and Unity Bank trailed the list with over N36billion, as at June 30,

According to the CBN's classification, the monies were given to the individuals and corporate organizations in the form of loans, overdrafts, term loans, margin loans and through a whole host of other facilities.

The release of the debtors' list is in conformity with the promise by Sanusi Lamido Sanusi, the CBN governor at the just concluded World Bank/IMF Meeting in Instanbul, Turkey, that he would release the names of the debtors and that there will be no sacred cows.

The total amount owed also confirms Mr Sanusi's statement that the first five banks - Intercontinental Bank, Afribank, Union Bank, Oceanic International Bank and Finbank were the most troubled of all the 24 Nigeria Banks, with a total debts exposure in excess of N747billion. Mr. Sanusi fired the chief executives of those banks on August 14th, shortly after the CBN concluded a stress audit on them.

Prominent debtors
Other prominent figures on the latest debtor list are: Mike Adenuga (jr), Sanjay Mathur, M. E. Omotsola, J. O. Ariyo, Tunde Akinyera, Kola Adegbola, O. G. Banigo, Sanni Dangote, Bello Dangote and Kola Daisi.

The Igbinedion University, Ekene Dili Chukwu Ltd, Bayelsa State government, Wema Asset Management Limited, Transnational Corporation Plc, and Odua Investment, are also on the list.The Central Bank said that the release of the new list is a continuation of its banking industry cleansing efforts. "In furtherance of the efforts of the Central Bank of Nigeria (CBN) to assist the banks affected by the outcome of the recent CBN/NDIC Special Examination, we publish herewith the list of non-performing loans of N100m and above for Bank PHB, Spring Bank, Unity Bank, Wema Bank and Equitorial Trust Bank as at June 30, 2009"

Mohammed Abdullahi, the spokesperson for the CBN, said: "The CBN will help all the five new banks with capital adequacy issues in their loan recovery efforts, just as it did with the last five. This is because it is the nonperforming loans in all the affected banks that put their capital at risk. CBN will remain consistent and fair in its stance on banks that are in similar situations."

According to the regulatory body, publishing the names of bank debtors is now necessary. "Following the recent regulatory action of the Central Bank of Nigeria on the five (5) banks, it has become necessary to use this medium to request the following defaulting customers of the affected banks to pay without further delay their indebtedness, failing which the banks will take all appropriate legal actions to ensure repayment. These are the largest debtors and the CBN will continue to publish the list of defaulters on an on-going basis," the statement stated.

A Reuter's report earlier this week had said that "Nigeria's anti-corruption police said it would soon begin investigations into Bank PHB, Equitorial Trust Bank, Spring Bank and Wema Bank, ''

The Economic and Financial Crimes commission has began prosecuting the five Chief Executives that were sacked by Mr. Sanusi in August. Some are out on bail while others remain in custody following their failure to meet bail conditions. It is expected that the EFCC will also closely examine the records of the last batch of CEO's sacked by Mr. Sanusi. In total, nine chief executives have been sacked after an audit of all of Nigeria's 24 financial institutions. Due to the banks' illiquidity and under-capitalisation, the Central Bank has had to issue nearly $4 billion to bailout the nine affected banks.

http://234next.com//csp/cms/sites/Next/Home/5470432-146/story.csp

John Shiklam
14 October 2009


Kaduna — President Umaru Yar'Adua yesterday said the resolution of the crisis in Niger Delta region has given the country the best opportunity for growth and development, saying his administration was determined to do everything possible in order to change both the physical and psychological orientation of the people of the region.

President Umaru Yar'Adua yesterday said the resolution of the crisis in Niger Delta region has given the country the best opportunity for growth and development, saying his administration was determined to do everything possible in order to change both the physical and psychological orientation of the people of the region.

Yar'Adua spoke just as the Speaker of the House of Representatives Hon. Dimeji Bankole blamed Nigeria and the leaders of the Niger Delta region for under developing the area which he said was the backbone of the Nigerian economy.

They spoke at the post Amnesty Confidence Building Summit which held at Arewa House, Kaduna.

President Yar'Adua who was represented by the Minister of the Niger Delta, Chief Ufot Ekaette, said the success of the amnesty programme has raised the nation's profile as a peaceful, indivisible and cohesive nation capable of providing answers to issues that tear other nations apart.

Yar'Adua said: "That we have been able to implement an amnesty that has no pre-condition attached to it testifies to our ability and resolve to succeeds and chart a new course for out nation and people

"I do believe the holding of this summit at Arewa House symbolises the spirit of unity and identification of other Nigerians to the situation in the Niger Delta.

"The summit is expected to provide an avenue for our brothers outside the Niger Delta to understand and appreciate federal government's efforts at entrenching peace, stability and prosperity in the region. It is pertinent at this stage to congratulate ourselves at the success of the amnesty programme.

"The success has raised our profile as a peaceful, indivisible and cohesive nation capable of providing answers to issue that torn other nations apart.

"To my mind, the early resolution of the Niger Delta question presents one of the best opportunities for Nigeria's growth and development. That is why we need to honestly answer the question: what next?"

He said the federal government will continue to do all within its means in collaboration with other stake holders to carry out the development of the Niger Delta region in accordance with his vision for the region and its people.

He said what was required is the continued support and productive partnership of the people, stressing that he is confident that the path of success in the regeneration of the Niger Delta is clear and assured.

Also in his address at the occasion, Bankole said the Nigerian nation has not been fair to the Niger Delta which has been providing the funds for the running of the country.

He said: If we are to be honest with ourselves, we have not been fair to the Niger Delta. We have been unfair to the Niger Delta. The Niger Delta has been producing the funds with which we've been running this country for so many years.

"The funds we used to build Abuja where I came from this morning, those lovely roads and bridges and offices came from Niger Delta.

"I have not seen such bridges and roads in the Niger Delta. Until those roads and infrastructure come to the Niger Delta, we will continue to put the request on the front burner of the Nigerian politics.

"However, things have begun to change. In the last 10 years, there has been tremendous improvement in the governance, financing of the Niger Delta. In the last 10 years, indigenes of the Niger Delta have been operating at the top level of governance in Nigeria.

"Today, the Vice President is of the Niger Delta origin. Today, the Head of Service that is the engine room of the government is from the Niger Delta.

"The Chief of Defence Staff is also from the Niger Delta. Until a few months ago, even the Inspector-General of Police was from the Niger Delta. Even when it comes to economic, security and politics, Niger Delta is at the top.

"Now let us go to financing. For some of you who have been to Lagos in the past one year, I am sure you will notice the difference. And I am not shy to appreciate that there is a difference in Lagos.

"It is good governance. As I said, there are differences in Nigerian government today. But I will tell you, His Excellency, the governor of Bayelsa State collects 9.2 times more money than Lagos State from the Federal Allocation.

"That is a recent development. Do not compare it with 20 years ago. I know that Rivers State collects more money than the entire North Eastern part of Nigeria, today. I know that Akwa Ibom State collects more money than the entire North Western part of Nigeria today.

"I know that Bayelsa State collects more money than the entire North Central states of Nigeria. Wait, hold on. You said I should speak.

"Please, for the family of my wife and everybody in the Niger Delta, Nigerian budget this year was around N3 trillion. However, by the time you add the budget of the Niger Delta states alone, it is over N1.5trillion.

"There may be over 140 to 150 million people in Nigeria. Niger Delta has about 17million; the remaining 130million is outside the Niger Delta. Those are the facts that 10 to 20 years from now, people are going to ask me, people are going to ask the governor of Bayelsa, people are going to ask all of us here that what we did when these facts were being put on the table.

"When they start abusing me on the headlines tomorrow, just remember what I said here. Now, we have an opportunity. With these funds there must be a difference because the people of the Niger Delta would begin to ask questions of their leaders on how these monies were spent.

"We may have excuses in the past that we were unfair to the Niger Delta. But those are no longer excuses today. When they ask me, I say go and ask them, they are the ones. What did they do with that money?

"Nobody is going to come from Abeokuta to tell you what you do with your money in the creeks. If anybody is telling you that, he is lying. You should ask yourselves about how your money was spent.

"Which House of Assembly in the Niger Delta or in the whole of Nigeria will perform its constitutional authority to ask questions of money spent by the executive?

"And when they ask those questions, we better have answers for them. Not only have we been unfair to the Niger Delta, we have been unfair to the North East, we have been unfair to the North West, we have been unfair to the North Central, we have been unfair to the South East. We have been unfair to Anambra.

"If I may digress, where are those leaders who made their names on the back of Nigerians from Anambra and what are they saying about what is going on in Anambra? Where are they? They will be the first to talk about federalism; they will be the first to talk about what government is doing.

"But none of them is talking about what is going in Anambra today and I will name names. Yes! Where is Chinua Achebe today, he is from Anambra. What is he saying about what is going on in Anambra?

"He is our father, we respect him. Where is the former Vice President, he is from Anambra? Where is Okonjo-Iweala, she's from Anambra. What is happening in the Niger Delta is not different from what is happening in the other parts of the country, except that when the young people of the Niger Delta feel the thing directly, they react.

"Oil will not produce the solution to the Nigerian problem. The technology involved in the development of oil cannot employ Nigerians. If it cannot employ Nigerians, it cannot solve the Nigerian problem."

"However, to solve our problems we need to create a middle class, the creation of employment, mass employment and if the north does not take the initiative, nobody is going anywhere in this country.

"Our dear fathers, Emirs, governors, presidents of northern extraction, 80 per cent of our arable land are not cultivated. And if you cannot cultivate, you cannot process, and if we cannot process, we cannot get anywhere.

"So, the solution has to with the performance of governance as far as I am concerned in the largest and most populous African country with its major population of northern extraction, it has to be done.

"It is not a 100 meter race; it is a long distance race. It is not a one year or two year thing, it is a long way and you have done it before. You did it 50 years ago, you can advise us on how to do it."



http://allafrica.com/stories/200910140339.html

Wed Oct 14, 2009 4:41pm EDT

By Camillus Eboh

ABUJA, Oct 14 (Reuters) - Five undercapitalised Nigerian banks have notched up bad loans totalling nearly 400 billion naira ($2.6 million), the central bank said on Wednesday.

This brings the total amount of non-performing loans owed to 10 of Nigeria's 24 banks to more than 1.5 trillion naira, of which only 135.6 billion has been recovered.

The central bank published a list of more than 600 firms, individuals and state bodies that have large outstanding loans owed to Bank PHB (BPHB.LG), Equitorial Trust Bank, Spring Bank (SPRN.LG), Wema Bank (WEMA.LG) and Unity Bank (UBPL.LG).

The regulator on Oct. 2 announced it would inject $1.3 billion to four of the five banks after auditors found they were facing a grave liquidity crisis that posed a threat to the banking system.

Unity Bank was also found to have insufficient capital but was not in a grave situation because it had a healthy liquidity position.

Central Bank Governor Lamido Sanusi has made cleaning up the banking system in Africa's most populous nation his top priority since assuming office in June; his auditors have now completed an examination of all of Nigeria's 24 banks.

The central bank in August published a similar list of debtors after the first round of the audit found lax governance had left five banks so weakly capitalised they posed a systemic risk.

The regulator injected $2.6 billion into Afribank (AFRB.LG), Finbank (FIBP.LG), Intercontinental Bank (INBK.LG). Oceanic Bank (OCBK.LG) and Union Bank (UBNP.LG).

Published on the central bank website (www.cenbank.org), the latest list included some companies already named as defaulting debtors in August, like conglomerates Transcorp (TCNP.LG) and Dangote Industries.

It also lists fuel retailer Conoil (NTOL.LG), Peugeot Automobiles Nigeria, and state governments of Bauchi and Anambra. (Writing by Randy Fabi; Editing by Leslie Adler)


http://www.reuters.com/article/BANKSL/idUSLE41258820091014

Sam Amadi
14 October 2009

--------------------------------------------------------------------------------

Lagos — In peacetime, with no bombs dropping from the sky and no Boko Haram militias knifing people to death, 70 Nigerians were burned to death on a road in Anambra. This mass death is symbolic because it seemed to have happened as Peoples Democratic Party (PDP) chieftains hunkered together in Yar'Adua Centre to divine how to find a Governor for Anambra State short of going into a free and fair election.

It seems that this divination required the blood of these ordinary wayfarers. But, the greater symbolism is that exactly what the PDP decided to do, (that is negate the peoples' will through a spurious affirmation of Prof. Chukwuma Soludo) is what sustains this mass death. A little background to the death is important to understand this symbolism.

How did 70 Nigerians perish one day in road accident? The BBC reported that a fuel tanker ran into a pothole, collapsed and burst into flames. The flames burned passengers on three mini-buses besides the tanker. Now, this is not an ordinary pothole that fell a fuel tanker. It must be one of the numerous deep craters that dot Nigerian roads, especially roads in the South-east. Between 1999 and 2003, Chief Tony Anenih as Works Minister spent a whooping N400 billion to fix these roads. And yet they remain incinerators of the dreams and hopes of thousands citizens. Chief Anenih is the godfather and handler of Professor Soludo, the beneficiary of the divination that happened on the day of the carnage.
Seventy Nigerians dying like chickens in a season of cholera is a big indicator of state failure. Or rather, the real indicator of state failure is that this wastage did not merit the concern of any of the political personages tasked with protecting lives and property in Nigeria. In the reckoning of these personages, and of their ruling parties and ruling governments, this is just another item in the daily cocktail of how life has been reduced to the most brutish state of nature in Nigeria.

Nigeria has one of the worst road fatalities in the world. Maybe more than Iraq and Afghanistan. The Federal Road Safety Commission (FRSC) has declared that most accidents in Nigeria result from the state of disrepair of Nigerian roads. The Federal Government has embraced infrastructural development as its cardinal programme. President Umaru Musa Yar'Adua signed one of the biggest infrastructure contracts in Nigerian history signalling that his administration understands the total collapse of infrastructure in the country. The envisaged massive public work is to put Nigeria on the most basic infrastructural standpoint for potential economic transformation. But some critics, drawing from hindsight, think it is just about 2011 election. After all, the huge road budget under Chief Anenih ended as electoral war-chest for the PDP in 2003.

The collapse of Nigerian roads and the carnages on them every day raise the spectre of a failing state. There is a theoretical relationship between road fatalities and state failure. If a country cannot guarantee life and free movement then it has failed fundamentally in its social responsibility. All failed states, for different reasons, fail to guarantee social stability and good enough social service. Seeing that our roads have become the incinerators of dreams and lives is Nigeria a failed state? Or more charitable, is Nigeria a failing state?

Debates continue but some important political leaders would not hear that we are even entertaining the notion that this beautiful and rich country could be on the road to failure. The President of Nigeria's upper legislative house (Senate), the most distinguished Senator David Mark would sneer at such debate. He made it clear in his 49th Independence Anniversary press statement that Nigeria has achieved its potential. He slammed United States Secretary of State, Mrs. Hillary Clinton, for daring to question the good work militarists have done to make Nigeria the envy of great countries like the US.

One thing about Mark is that he is not one of those lily-livered militarists who patronize civilian nonsense about democracy. He joins no issue on the special privilege of the military-serving or retired to continue to run this patrimony purchased from bloody civilians. He is a leading member of the cabal whose singular lack of vision and unbridled corruption entrench Nigeria in the rot. Mark is truculent and unashamed. He is also intelligent enough to know that a better Nigeria does not serve him better than this Nigeria. So, he lets everyone know we are doing fine and should be left alone.

Mark is not alone in gloating over what Nigeria has achieved. Everywhere in the political circuses the sound of mirth drowns the groins of the Nigerian people. Our leaders do not see or understand. Like revellers in the upper deck of a sinking ship they do not hear the wailings of distraught crewmen. Though 2007 took us to the precipice, we march on to 2011 with drunken swagger. To let these "leaders" continue in their wild revelry is a great disservice to them and the nation. We must get them out of the way to reverse the march to state failure.

The spate of freaky accidents on our roads contributes to parlous human development. We are not making any improvement in human development if our roads remain death-traps. A nation wracked by polio and HIV pandemics and high deaths from malaria and could not afford the most rudimentary supply of power for any meaningful economic activity is on the pack of country showing critical signs of failure. Add road mortalities to already increasing infant and maternal mortalities and you get a depressive index of human misery.

The challenge of making the roads safe may seem like a simple task until you map on it the political economy of corruption and political irresponsibility. Then you realize how far Nigeria has travelled on the road to failure.

May be it is a coincidence but it is just so fitting that the day the PDP chose Anenih's ward as its flag bearer for the Anambra governorship election in defiance of the logic of democratic accountability the road in Anambra drank the blood of 70 innocent wayfarers.


http://allafrica.com/stories/200910140252.html

FG get it done quickly,

By Godwin Oritse - Oct 14, 200

THE Federal Government has commenced moves to construct 11 river ports and 21 jetties across the country with a view to boosting the economic activities of states where these ports are located.

The move to build these ports was a result of government’s decision to dredge the River Niger, a project that successive governments have failed to execute following the vehement opposition to dredging the river.

Disclosing this, participants at the 9th National Council meeting on transport, the Managing Director of the National Inland Waterways Authority, (NIWA), Architect Ahmed Aminu Yar’Adua said that the objective of the project is to create a channel of 60 metres that would ensure all year round navigation between Warri in Delta State and Baro in Niger State, a distance of about 572 kilometres.

Yar’ Adua also said that the first phase of the project which is capital dredging is expected to be completed between January and February 2010, while the second phase, maintenance dredging will commence immediately after the dredging.

The aim of the project, according to the NIWA boss, is to shorten distance and time of travel on the this route.
He, however, commended the managements of the Nigerian Ports Authority (NPA) and the Nigerian Maritime Administration and Safety Agency (NIMASA) for their financial support to the project, adding that the project will also boost the Cabotage law in the country.

“It is particularly noteworthy and welcome development that sister agencies – NAP and NIMASA – have fully cooperated in obliging financial support for the dredging project,” he stated.

The river ports, Vanguard gathered will be built in Baro in Niger State, Lokoja in Kogi State, Onitsha in Anambra State, Oguta in Imo State, Okwagbe in Edo State, Yenogoa in Bayelsa State, Agenebode in Edo State, Makurdi, Benue State, Numan in Adamawa State and Idah in Kogi State.

While the 21 jetties will be built in Eket, Nwaniga, Port- Harcourt, Igbokoda, Yauri, Shinkatu, Kpata, Ilushin, Asaba, Aboh, Ibi, Lau, Baruka, Ndoni, Opobo, Owerinta, Sagbama, Atani and Numan.

It would be recalled that some states in the Niger-Delta area were vehemently opposed to the dredging of the Niger River to protest the effect the project may have on their areas particularly the riverine areas.

Vanguard further gathered that the project will also boost the movement of container cargoes within the Eastern axis of the country thereby reducing pressure on the Lagos seaports.


http://www.vanguardngr.com/2009/10/14/niger-dredging-fg-to-construct-11-river-ports-and-21-jetties/comment-page-1/

October 15, 2009 by tim
The Economic and Financial Crimes Commission (EFCC) has recovered N115billion from bank debtors, it was learnt yesterday.

Besides, the commission is making moves to extradite former Chief Executive and Executive Vice-Chairman of Intercontinental Bank, Mr. Erastus Akingbola, from the United Kingdom.


Chairman of EFCC Mrs. Farida Waziri made the disclosure yesterday in Benin City, the Edo State capital, at the “Prof. Ambrose Alli Annual Lecture/Awards” organised by the Visionary Leadership Development Services (VLDS).

The late Alli was Governor of old Bendel State between 1979 and 1983 under the platform of Unity Party of Nigeria (UPN).

Delivering a lecture entitled: “Leadership and the Challenges of Good Governance in Nigeria”, Mrs. Waziri urged the National Assembly to pass the Freedom of Information (FOI) bill to make leaders accountable


http://nigerianbulletin.com/summary-plus-news/efcc-recovers-n115b-from-bank-the-nation/15102009/10488/

Shame on the Yar'Adua administration for inaction - the transportation minister should have been sacked. This' road is without a doubt, the busiest highway in Naija, as it links the main business hubs of the country. This road should be fixed while the River Niger dredging progresses.

This goes to show that when there's will power , there's always a way. . . unfortunately, far too often in Naija the worse has to happen for there to be call for change. Let's hope that the police will sustain this call to action, and that the Governor will continue to monitor their progress and make available resources to the state CP and his team. . . related NL Topic: {{ https://www.nairaland.com/nigeria/topic-334824.0.html }}

By Simon Ebegbulem - Oct 12, 2009
BENIN—BARELY on week after Edo state police command set up an anti-kidnapping unit, the command yesterday paraded two gang of suspected kidnappers and two armed robbers alleged to have murdered a commercial motor-cyclists in June this year.

Parading the suspects in Benin City, the state Commissioner of Police, Mr Danlam Yar’Adua, explained that the suspected kidnappers, who hailed from Ovia area of the state, were arrested while perfecting plans to abduct a popular medical doctor (names withheld) in the state last week.

Two guns, a live catridge, charms and amulets, sim cards, used airtime cards and over 10 mobile phones were recovered from the suspecting kidnappers.

According to him, based on information available to the police, detectives from the command swooped on the gang and in the process rescued a middle-aged business woman who had been in their custody for five days and was kept in their detention camp in the bush along Ugbowo-Lagos road.

Yar’Adua stated that the victim was abducted along Ekenwan road in her Mercedes Benz car and moved to a forest near Ekenwan River before she was later taken to their detention camp and subsequently rescued by his team of detectives.

The woman, according to him, is already receiving treatment at an undisclosed hospital.
One of the suspected kidnappers, Mike Oboh, who claimed to be a domestic staff of the victim, confessed that he was lured into giving out information “about my Oga when they promised to share the money they will get from ransom with me”.

The commissioner called on members of the public to give useful information on suspected criminals in their areas through the three area commands in the state situated in Benin, Auchi and Irrua, adding that his office and that of all the senior officers in the command were also opened to members of the public.

On the arrest of the killers of one Wilson Ogbudike, the commercial motocycle operator, the commissioner said they were arrested after the mobile line of the victim was recently discovered to still be working


http://www.vanguardngr.com/2009/10/12/suspected-kidnappers-armed-robbers-in-police-net/

Dis Guy:

whatever happened to meeting person and qualification specification

interviews are not everything

So the candidate's appearance or performance during the interview process will do it for you? that's 5 or 6 .  .  . please choose one and vote the same.

. . .Or are these six concerns or lack thereof just individuals’ unfounded perception?

Comment and vote your conscience and let’s see what the majority view really is.

This NL sample may/may not represent what is factual in Naija, in general. But it will be interesting to know, nonetheless.

If you’re a hiring manager in the private sector, what would be your basis for hiring, assuming all potential candidates meet required educational background and job experience?

Which of these reasons will be the most compelling for you?

1. Political affiliation (if known)
2. Ethnicity (strictly same as yours)
3. Local content of company location
4. Weigh in the need for ethnic diversity in the company
5. Physical appearance of candidate
6. Strictly on candidates performance in the interview

Please be honest, after all NL provides anonymity – please also vote in your answer after commenting.

too_soon:

Install CCTV all over Edo state and crime will reduce drastically.

Jokes apart, CCTV at strategic locations around Benin city may actually deter crime. . . but ofcourse, you'd need lighting as well.

All those right-wing racists should go and commit suicide in droves. This would make the world a much better place.

ohisng:

For it to work, its COMBINED efforts from the militants and the Comrade Governor BUT you can be sure that the Comrade Governor on his own part will do all that it takes to fulfill his own side of the bargain

I am glad you represent the governor on NL, and I hope on other blogs as well. At least you are able to relay the heartbeat of the people to Oshiomhole administration - but please don't say the safety of Edo state depends on militant criminal elements; that's like saying the orderliness or safe-haven one’s home provides depends on armed robbers will. That’s such a cowardice copout – if armed robbers constantly invade my home, I will get enough security to repel them. And the operative word here is “enough”. You just don’t take a bow and arrow to a gun battle – if the police can’t control these miscreants, then the governor needs to call in the JTF, and if that does not work, then he needs to look into neighborhood vigilante crime stopping. Like I said before anything to stop these barbaric and heinous crimes perpetrated on innocent citizens.

ohisng:

@Gentle4lyf- Thank u very much! Ha!!! Finally, someone with a brain that works!! U see most of the NLanders on issues relating to Edo state have an obsession with pessimism. They CANT do anything BUT they are the first to quickly criticise any project without even giving it a chance of survival.
spONE and his cohort, snow, whatever, hope u are reading this!!

Like I said in another post, I will join the bandwagon for Oshiomhole only if he performs - if Port Harcourt and Lagos can be rid of kidnappers so also can Benin. Any thing short of this, is just a smoke screen, period. So you got your work cut out for you. And gloating right now is premature - let's just see if these militants/criminals stop kidnapping innocent citizens of Edo state, or anywhere else for that matter.

190:

useless state~

ode!

@beaf,
@ poster might have a point; what if the Moonoids decide to retaliate with their intergalactic proton powered vaporizers, DT232?

Edo police set up anti-kidnapping squad

By Simon Ebegbulem - Oct 9, 2009

BENIN—WORRIED by the spate of kidnapping in Edo State, the state police command has set up a special anti-kidnapping squad, vowing that the squad would fish out the sponsors and perpetrators of the crime in the state.

Edo State Police Commissioner, Mr. Danlami Yar’Adua, who disclosed this yesterday to newsmen in Benin City, also disclosed that the command was investigating alleged killing of one Sergeant Ojemen Osemenkhian by a fellow police officer on October 1, 2009.

Commissioner Yar’Adua stated that the squad had been provided with logistics to deal with the cases of kidnapping and expressed hope that the people of the state would provide the squad with information that would help crack down on the perpetrators.

According to him, “the squad is under going intensive operational and intelligence training to equip it with the capacity to deal with the challenges of kidnapping.

“Let me say that this does not in any way affect the existence of other structures on ground to deal with the challenges of kidnapping.”

The commissioner also paraded six suspect involved in car snatching and certificate racketeering and said they would be produced in court after investigations.

On the mysterious death of Sergeant Ojemen, the commissioner explained that “ we are aware of the matter but we cannot conclude what actually happened now until after the investigations.

“If at the end of the day the officer who is being accused is found wanting, we will not hesitate to prosecute him according to the law.”

http://www.vanguardngr.com/2009/10/09/edo-police-set-up-anti-kidnapping-squad/

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Governor  oshiomhole, if the police are overwhelmed call in the JTF. This is what the people of Edo state want from your administration - safety and security first and foremost.

I can’t believe I too joined this useless thread that has nothing to do with the politics of Naija – boredom is a terrible thing.

@ohisng and GEW

I will join your bandwagon if the current truce ( https://www.nairaland.com/nigeria/topic-334713.0.html ) is sustained by the Governor – people must feel safe in their state.

If the militants get out of line or renege on their promise, it is up to the governor to call in the JTF – positioned at all water ways into the state; at strategic locations within the cities; whatever it takes to ensure that Benin or any other main city in Edo state doesn’t become the backdrop of heinous crimes such as kidnapping.

From Adibe Emenyonu in Benin, 10.08.2009

Days of militancy may be over as the Governor of Edo State, Comrade Adams Oshiomhle, yesterday got assurance from militants to end kidnapping.
The militants gave the assurance during a meeting with Oshiomhole, after the protest by the militants over what they called neglect and insensitivity to their plights by the Committee on Amnesty and Disarmament.
In his address, Oshiomhole told them to live in peace, because, good roads, good hospitals and development can only be possible in an atmosphere of peace, adding that no contractor will work in an area where kidnapping of their staff is the order of the day.
Promising to accommodate the interest of their community in board appointments, Oshiomhole said the state government, which has lifted ban on employment, will employ youths from various communities.
He said he had gotten in touch with head of the Presidential Amnesty Committee who is also the Defence Minister, General Godwin Abbe (rtd), who had assured that all the 450 militants would be registered and sent to the rehabilitation centre in Warri, after payment of their outstanding allowance.
The demonstrators, who barricaded major streets in the city, especially Uselu-Lagos Road and Ring Road, prevented motorists from going about their normal businesses.
Edo Government House was not left out, as the protesters blocked its main entrance, preventing movements of vehicles.
Leader of the group, Robert Okobo, who spoke to newsmen at Government House, said the protest was to register their grievances about the committee’s neglect since they surrendered their arms.
According to him, over 450 militants in the state surrendered their arms, but the disarmament committee in the state chose to recognise only 250.
He quoted the state amnesty committee as saying that only 250 militants will be registered at the Federal Government Girls College registration centre, Benin, and taken to the rehabilitation centre in Warri, Delta State.
Besides, Okobo said the N20,000 monthly allowance promised them has not been paid and threatened that they would carry arms again and continue their struggle if their demands were not met.

http://www.thisdayonline.com/nview.php?id=156499

For the sake of the good people of Edo state let's hope this will be a lasting truce - The Governor should continue to monitor the progress and ensure that in fact this is the end of the Heinous crime perpetrated on the law-abiding citizens of Edo State.

On a lighter note, maybe the governor actually visits NL.

A container full of arms and ammunition has been seized by Nigerian customs officers in Lagos harbour.

One person has been arrested and officials are searching for the owner of the arms, which came in from the US.

A BBC reporter in Lagos says it has raised concerns about the proliferation of arms ahead of polls in 2011.

He says in the past politicians and their backers, known as "political godfathers", have recruited and armed young men to intimidate their rivals.

News of the seizure comes days after the end of an amnesty in the oil-rich Niger Delta, where the government has been urging militants to hand in their weapons.

Analysts say many of the area's militant groups were originally armed by political godfathers.

Officers of the Nigeria Customs Service say they intercepted the 40ft (12m) container while carrying out routine inspection at Apapa port in Lagos.

The BBC's Fidelis Mbah in Lagos says it is not the first shipment to be found this year.

In June two ships loaded with weapons were impounded by Nigeria's navy in the southern port of Calabar.

A third vessel escaped to sea.

http://news.bbc.co.uk/2/hi/africa/8295803.stm

Not again. . . .

The sad truth is that every post on this topic, thus far, is accurate. But we can’t give up – we must continue to fight in whichever small way, each of us, as individuals or groups, can. There are some bright spots, though minute in the larger scheme of things. We must continue to praise those that see the need to better this country; thru making their local governments better; their states livable and socio-economically progressive; and the country a bit better, in their work of life, than they met it.

We must also not be shy about criticizing those that their main goal is to abscond our treasuries.

bawomolo:

are you saying oshiomole should have personally turned into superman to stop the kidnapping.

Tell me you are kidding. . . yes?

Port Harcourt was once the capital of kidnappings - did the governor become a superman to curb it?
Lagos state, the most challenging state to govern by a long stretch - is Fashola a superman or magician to ensure the safety of the citizens of Lagos?

walata44:



You are begining sounding bonker. What is your problem with this man?

Your grammar eludes me – nevertheless, I will take a crack at it.

He is not just “this man”, he’s the governor of a state that’s without any doubt, one of the worst thus far. And, he has done nothing to make the state safer for the citizens therein. Hope this help you see my gripe with “this man”.

Reciprocity is the way to go – the last time I checked Nigeria is the 3rd largest economy in Africa. Only surpassed by South Africa and Egypt. Ghana is not even in the first 10.