₦airaland Forum

funshint:
So na the werey get Titan Trust Bank....was wondering how that small fish was able to get such fund to float a commercial bank. They should Look into Premium Trust Bank too.

Corruption is really killing us in this country. We need a total overhaul of the entire banking system.

Hhmm, I didn't know he even bought a bank....TWO BANKS...without pay??

I was previously wondering how a smaller bank Titan Trust Bank Limited that was quickly established in 2018 ended up acquiring bank as big as Union bank with asset base then estimated at NGN1, 381 billion (US$4.1billion), Shareholders' equity NGN286 billion (US$851 million) at that time. Established in 1917. Number of employees: 2200.

Jim Obazee, the investigator appointed by President Bola Ahmed Tinubu to investigate the affairs of the Central Bank of Nigeria (CBN), has said the government is on the brink of reclaiming two banks allegedly sold illegally to former CBN governor, Godwin Emefiele.

According to Obazee’s findings, Emefiele utilised proxies to acquire Union Bank of Nigeria for Titan Trust Bank Limited and Keystone Bank, with no evidence of payment.

The investigator submitted detailed reports on the acquisition of Union Bank and Keystone Bank to President Tinubu on Wednesday in two separate letters dated December 20, 2023.

This revelation follows Obazee’s prior discoveries that Emefiele purportedly stashed billions of naira in public funds across 593 bank accounts in the United States, United Kingdom, and China without approval from the apex bank’s board of directors and the CBN Investment Committee.

Read on..
https://dailypostngr.com/2023/12/fg-will-recover-two-banks-illegally-sold-to-emefiele-cbn-investigator/

FG Will Recover Two Banks Illegally Sold To Former CBN Governor Godwin Emefiele – CBN investigator
Read details
https://dailypostngr.com/2023/12/fg-will-recover-two-banks-illegally-sold-to-emefiele-cbn-investigator/

APC Spent Billions To Win Elections in 2019, Ensured Uzodimma’s Emergence – Oshiomhole

https://dailypostngr.com/2023/12/apc-spent-billions-to-win-elections-in-2019-ensured-uzodimmas-emergence-oshiomhole/

Nawao

Weeks after appointing his son, Olukayode Jnr, as one of the 23 new judges of the Federal High Court, Chief Justice of Nigeria, Olukayode Ariwoola has appointed his younger brother, Adebayo Ariwoola, as the new auditor for the National Judicial Council (NJC).

Peoples Gazette reports that Adebayo’s new role overseeing the NJC’s internal audit unit, responsible for ensuring financial integrity and compliance, has prompted questions about the influence of familial connections in pivotal positions within the judiciary.

Critics are apprehensive that such an appointment might compromise objectivity and ethical standards.

Read on…

https://dailypostngr.com/2023/12/weeks-after-appointing-his-son-as-judge-cjn-ariwoola-appoints-brother-as-auditor-for-national-judicial-council/

This is serious

This is serious

The Nigerian inmates in Kality maximum prison in Ethiopia have called on the Nigerian government @NigeriaGov, Senate @NGRSenate, NIDCOM @nidcom_gov Chairman/CEO Hon. Abike Dabiri-Erewa to rescue them from human rights abuse and torture being meted out on them.

In a letter sent to multiple media, the inmates narrated their ordeal in the hands of the maximum prison officers and other local inmates who subjected them to human rights abuse, mental torture and threats to their lives.

“Our lives are being threatened and there are abuse of fundamental human rights. They are subjecting us into mental torture,” the prisoners cry out.

“Please HON DABIRI ABIKE AREWA we know how you care for people in need, even your good work are still green in memory of most Nigerians.please ma keep the banner flying by extending your helping hand on us in Ethiopia prison.we are dying of hunger, lack of medical care, and inhuman treatment.”

“We also ask the senator’s and house representatives to come to our aids before we perish.”

“Please urgent help is needed because situation is not conducive. Ethiopian government refuses to feed the prisoners telling us that they don’t have money or medicines. They gave us one spoon of rice in the afternoon and one spoon in the night without stew.”

“If we continue here, we are afraid that we may not survive or withstand it for a long-time. That is why we are crying for rescue from the Federal Government of Nigeria. We don’t want to lose more people in death here.”

Read the full letter
https://dailypostngr.com/2023/12/nigerian-inmates-in-ethiopian-prison-call-on-fg-senate-nidcom-abike-dabiri-erewa-to-rescue-them-from-dehumanisation/

This is serious!

Am afraid there won’t be a gradual institutionalization of forgery in the system

Mixed reactions have continued to trail the allegation that some government officials have been forging the signature of the ailing Ondo State governor, Rotimi Akeredolu to carry out activities in his continuous absence.

The governor has been out of the country for nearly 6 months to receive care for an undisclosed ailment.

An Abuja-based lawyer, Kayode Ajulo (SAN) had alleged that some commissioners in the administration of the state were forging the signature of Akeredolu.

Speaking on Arise TV on Monday, Ajulo said he noticed some differences between the recent approvals and those made by the governor when he was healthy.

“As a lawyer, I have good authority on this.
 About five commissioners sent memos to the governor, and all of them returned with approval.

“It has been made clear by the police and Administration of Justice Act that private investigators have been contacted due to the matter, and their findings are extremely damaging. The EFCC in fact needs to go to Ondo State in order to make some inquiries. The governor did not sign the alleged document. It’s really obvious,” he added.

Read on..

https://dailypostngr.com/2023/12/govt-officials-allegedly-forging-ailing-gov-akeredolus-signature/

KeenD:
It will pay off on the long run

Well, let’s hope so as we yearn and pray for a cushion to current hardship in the short run

Tinubu’s new $8.6 Billion loan bid takes Nigeria’s debt to $52 Billion Amid Biting Inflation

Read more
https://dailypostngr.com/2023/11/tinubus-new-8-6-billion-loan-bid-takes-nigerias-debt-close-to-52-billion/

May God help us

Nigeria’s external debt profile will hit over $51.759 billion, as President Bola Tinubu yesterday sought the National Assembly’s approval for fresh $8.6 billion and €100 million foreign loans.

The President’s request is part of the external borrowing plan for 2022-2024 for critical infrastructure, such as power, roads, water, railway, health.

The country’s external debt stock at as June 2023, according to data from the Debt Management Office, DMO, stood at $43.159 billion, while its domestic debt stock is N54.130 trillion. 

Analysis of the external debt showed that multilateral borrowing gulped $20.790 billion; bilateral, $5.518; commercial, $15.618 billion; promissory notes $931.7 million and $300 million.

Meanwhile, Nigeria’s total public debt (domestic and external) as at June 2023 stood at N87.379 trillion.

Read more
https://dailypostngr.com/2023/11/tinubus-new-8-6-billion-loan-bid-takes-nigerias-debt-close-to-52-billion/

Just trying to figure out why the institution in Nigeria was named American University instead of Atiku Abubakar University.

Who knows?

Read the original article
https://dailypostngr.com/2023/11/19-years-after-my-varsity-not-yet-standing-atiku-laments/

Former Vice President Atiku Abubakar appeared not to be satisfied with the management of the American University of Nigeria, which he founded 19 years ago, regretting that the institution had yet to be on its feet as it ought.

Atiku, in a paper delivered at the AUN as part of activities marking this year’s celebration of the institution’s founder day, had revealed his frustrations with the management of the university that he founded for not being able to get the institution firmly rooted on its feet.

Founder’s Day, in the American style, is an important tradition where an institution unites to honor those who have contributed to the university’s rich history and its founding.

Every year, the AUN rolls out its drum to commemorate its Founder’s Day on the birthday of the former Vice President, who founded the institution in 2004.

However, at this year’s celebrations, Atiku revealed the real motives behind his establishment of the AUN.

He said his motive for establishing the university was not to gain political office but to give back to a society that has given so much to him.

Speaking at an event in his paper entitled, “AUN in the Age of Socio-Economic Crisis and Emerging Disruptive Technologies,” Atiku had made a veiled reference to his frustrations with the one too many leadership transitions at the institution over the course of the last 19 years and the inability of managers who had presided over the management of the institution fully grasping his vision for the institution and effectively piloting the university as a truly developmental university.

Atiku said, “You cannot realise the vision of a still small and young institution without focus, without being organized, without patience, without attention to detail, without persistence, and the desire to overcome obstacles in your way. And you cannot realise that vision with reckless management of resources, arbitrariness in decision making, and unfairness and inequity in the treatment of faculty, staff, and students. As a result, continuity and fidelity to rules and procedures haven’t always been maintained in the attempts at realizing the founding vision and pursuit of the university’s goals. There is, therefore, an urgent need to return to basics, to the original vision.”

“After 19 years, AUN ought to be able to stand on its feet. I have neither asked for nor received a kobo from you since inception and have no plans to do so in the future. All the investments that my friends and I have made and continue to make here are intended to see the university grow and serve humanity.

“AUN is a not-for-profit institution. However, that does not mean that you should not generate surpluses. You should be self-sustaining and generate surpluses to be plowed back into the development of the institution to serve a greater number of people – students, employees, and the wider community.

“Unfortunately, as I have been told, some see AUN the way some Nigerians see public institutions – as a place they take from but not to put in. Well, that’s a mistake.”

He, however, gave a forewarning of the changing educational landscape, noting that only institutions that had the financial wherewithal and were positioned for the disruption that technologies are likely to bring to education in this age of Artificial intelligence are best suited to survive.

He explained that the transition occasioned by emerging disruptive technologies in the age of artificial intelligence was in the context of Nigeria, adding, “Coinciding with deepening socio-economic crisis limiting the financial capacity of institutions and the country to acquire those very technologies, failure of which would put us further back in the race to socio-economic advancement.”

In his paper, Atiku asked, “How are you preparing for them, and how is Nigeria preparing for them? What about artificial intelligence’s potential impact on teaching and learning, especially Large Language Models such as ChatGPT? Are you prepared for that?”

He, however, expressed cautious optimism about AUN’s readiness, noting that the institution, which ought to be on its feet, had been afflicted with the same kind of malady that had afflicted the Nigerian state, which he called a “mistaken” philosophy.

https://www.google.com/amp/s/punchng.com/19-years-after-my-varsity-not-yet-standing-says-atiku/%3famp