₦airaland Forum

What makes a good prophecy is the fact that such prophecy must be startling, not mundane.
Mid October 2017, during the year’s edition of the Omega Fire Ministries’ Ministers’ Conference, servant of God, Apostle (Prof.) Johnson Suleman declared to the congregation that he indeed had had the divine privilege to follow and pray over the coming Liberian presidential election and that God revealed to him a footballer won the election.

His exact words;

“Let us pray over the Liberian election. I saw in praying the election and that prayer was so on point. In Liberia, during the election process, they need God. But when they even need God more is after the election. This is because the person I saw that won the election was not the person they gave it to. That is why I said we must pray. And if you must pray, pray that they give it to the person that won. I saw a young man win the election. I saw a footballer, a former striker. But, give him the mandate; problem. That is what I saw. So we must pray.”

Watch video below;

https://www.youtube.com/watch?v=VJF4a…

A Lagos-based businessman, Mr. Fiddis Ogwugwa, has called on the former Executive Director of Law Union and Rock Insurance Company, Mr. Olusegun Ilori, to pay him the sum of N500,000, being an amount awarded to him by court against Mr. Ilori breaking his marriage.

Mr. Ogwugwa, who regretted amorous affairs that took place between his wife, Charity Ogwugwa and her former boss, wants immediate payment of the sum to assuage the trespass, pain and trauma he went through due to Olori’s irresponsibility that ended his 19 years marriage.

Recall that a Delta State High Court, Kwale, dissolved Mr. Ogwugwa marriage on the ground that his wife, engaged in amorous affairs with the former with her former boss, Mr. Ilori.

The court, in its judgment, also ordered Ilori and Charity, to jointly pay N500, 000 damages for the trauma and trespass, they caused Mr. Ogwugwa and particularly for the irresponsible acts of Ilori in ruining the matrimonial home of Mr. Ogwugwa.

Olusegun Ilori was at the time of filing the divorce petition, the Executive Director of Law Union, while Charity was Project Manager.

The divorce petition was initially filed before a Lagos State High Court, before it was re-filed before a Delta State High Court, Kwale, when Justice Dawodu Williams of Lagos High Court struck out the petition.

According to Mr. Ogwugwa, he was lawfully married to his wife, Charity, on November 25, 1994 according to the marriage act. The marriage produced two children, a boy and a girl.

He stated that what led to the collapse of the marriage started sometime in the year 2003, when his wife, excusing herself to receiving phone calls at odd hours of the day, therefore, the petitioner became suspicious.

He added that between December 2003 and February 2004, he (petitioner) found an amorous text from Segun Ilori to his wife, he then called both of them and cautioned them about the misconduct to which both denied any sexual relationship.

On April 18, 2010, he sent an email that could be shared between two lovers to his wife, she acknowledged the mail on April 19, 2010, shortly after, she forwarded same mail to Segun Ilori and in error forwarded a copy to him.

The action opened floodgate of suspicion that led to the discovery of several amorous email messages between the two lovers. Upon being confronted by the petitioner, his wife confessed to having an adulterous and unprotected MouthAction with her boss in the office on several other occasions.

Consequently, Mr. Ogwugwa sought the dissolution of the marriage on the ground that the marriage had broken down and the custody of the two children produced by the marriage and N20 million as special and general damages for the trauma, trespass and irresponsibility of Segun Ilori, the party cited in the divorce petition as the person responsible for the collapse of the marriage.

In her judgment, the presiding judge, Justice Jahegho Williams, said: “I have carefully considered this petition. They are not contradicted or controverted and as such, assumed to be correct. This court, therefore, has no option in the absence of any other fact mitigating against the petition, has been proved as required by law. I, therefore, dissolve the said marriage of November 25, 1994. Further, I give custody of the children to the petitioner.

“I also award the sum of N500, 000 against Charity and Olasegun Ilori, jointly as special and general damages for the trauma and trespass of them particularly for the irresponsible acts of Segun Ilori in ruining the matrimonial home of the petitioner.”

Carnival Calabar is the largest street party in Africa. It is time for the world to visit Calabar again for that fun fair. It is an annual event which begins on every 1st of December and last till the 31st December, otherwise known as “Africa’s Biggest Street Party”.

Carnival Calabar was created as part of the vision to make Cross River State the number one tourist destination for Nigerians and tourists all over the world, over the years, the festival has boosted the cultural prose/mosaic of the Nigerian people while entertaining millions of spectators within and outside the state and boosting industry for all stakeholders.

It is a platform for brand visibility and market awareness. As you aware, Cross River State has become the pride of Nigeria or Africa as far as tourism, carnival and hospitality is concerned.
The vision started in 2004 by former Governor of Cross River State, Mr. Donald Duke. The festivals also includes music performances from both national and international artist of which are the likes of Lucky Dube, Fat Joe, Young Jeezy, Nelly, Kirk Franklin, Tuface Idibia, P-Square, etc.

The festival also embodies performances such as Fashion show, Beauty pageant, Boat regatta, Christmas Village, Traditional Dances and the annual Ekpe festival is a yearly event that brings in revelers to the state.

This year, the Carnival is taking a new phase as the State Governor, Prof. Ben Ayade is making it an International Carnival with over 10 countries expected to be in attendance. Its one event no one would want to miss.

Calabar carnival2In other to make the Carnival a worth while experience for fun seekers and tourists alike, an Abuja based traveling agency, JIREH TRAVELS AND TOURS, has introduced a special package tagged ‘Experience Calabar Carnival’. This unique offer which runs from 24th -27th December 2017, includes:

Flight or bus transportation to and fro,
3 Star Hotel reservation with breakfast,
A visit to Marina Resort, Tinapa and any other sites of choice,
Transfer (Pick up from airport and drop off at the airport).
According to information made available to THEMOMENTNG.COM, prices are subject to availability.

To enjoy this once in a year carnival, intending fun seekers from Abuja who intend to travel by road are to pay the sum of N92,000.00 (single) and N115,000.00 (double).

While those who intended to travel by air from Abuja are to pay N135,000.00 (single) and N230,000.00 (couple).

Also those who want to be part of the Carnival Calabar from Lagos are to pay N92,000.00 (single), N115,000.00 (couple) for road transportation while traveling by air will cost N230,000.00 (couple) and N135,000.00 (single ).
Those who want to join the fun train from Port Harcourt are not left out, to travel by road to and fro goes for N85,000.00 (single ) and N104,000.00 for (couple). This is a stress free offer that one can enjoy with families and friends.
JIREH TRAVELS AND TOURS LTD was incorporated on the 31st day of October, 2006. It started with its only branch in Abuja and in 2015 opened a branch office in Florida, USA. For more details visit their website: www.jirehwings.com or call :08023053029

In-depth investigation into the claim by Chief Innocent Chukwuma, the owner of Innoson Nigeria Limited, that the sum of N559,374,072.09 was withdrawn from his account by GTB is appearing to be a far exagerattion of the truth as documents emerging from the court and law enforcement agents is proving otherwise.

It would be recalled that Chief Innocent Chukwuma had claimed that GTB withdrew from his account the sum of N559,374,072.09 in excess charges. It was on the basis of this claim that Innoson acquired judgment to the tune of N4.7bn from the Federal High Court Awka. At first glance, one could assume the bank debited funds in Innosons account but in the real sense, the N559m represent the interest portion of the N2.4bn loan that he took from the Bank.

Below is the actual fact of the matter:

The story of the N559 million excessive charge claim by Innoson

In December 31, 2011, Innoson’s account with the bank was in debit of N1,654,481,895.04 (one billion, six hundred and fifty-four million, four hundred and eighty-one thousand, eight hundred and ninety-five Naira, four Kobo only).

This means that rather than having money in his account, Innoson was owing the bank this amount as debt for loan which he had collected. However, the EFCC tried to broker a settlement between the Innoson and GTB, which would involve the settlement of Innoson’s indebtedness to the Bank, in view of the fact that Innoson had fraudulently acquired Imported Goods bought solely in the bank’s name.

During the criminal investigation, EFCC got an independent party to reconcile the accounts of Innoson with the Bank. Upon conclusion of the reconciliation, the independent third party’s view was that the indebtedness of Innoson was N1.09billion and that the sum of … were default interest accrued on the loan.

However, in the spirit of resolving the issues amicably, the Bank agreed to forgive Innoson of the default accrued interest, so long as Innoson paid, within 30 days, the sum of N1,095,107,822.95 as full and final payment of his indebtedness to the Bank. Innoson agreed and requested for a letter to that effect. Here is the letter GTB sent to Mr Innocent Chukwuma, owner of Innoson, in September 2012:

“Dear Sir,

INDEBTEDNESS OF INNOSON NIGERIA LIMITED

We refer to the indebtedness of Innoson Nigeria Limited (“the Customer”) to Guaranty Trust Bank plc (“the Bank”), secured by your Personal Guarantee which by our records was N1,654,481,895.04 (one billion, six hundred and fifty-four million, four hundred and eighty-one thousand, eight hundred and ninety-five Naira, four Kobo only) as at December 31, 2011. In addition, we refer to the reconciliation that has been conducted between representatives of the Customer and the Bank, further to which the sum of N1,095,107,822.95 (one billion, ninety-five million, one hundred and seven thousand, eight hundred and twenty-two Naira, ninety-five Kobo only) was agreed as the reconciled indebtedness of the Customer to the Bank, having deducted alleged excess charges.

As you are aware, the above sum of N1,095,107,822.95 (one billion, ninety-five million, one hundred and seven thousand, eight hundred and twenty-two Naira, ninety-five Kobo only) is the reconciled indebtedness of the Customer to the Bank as at December 31, 2011, and the Bank is entitled to charge interest in accordance with terms indicated in the underlying facility agreements from January 2012 to date.

However, the Bank has decided, in the spirit of amicable resolution, to accept from the Customer, or from you in pursuance of your Personal Guarantee, the said sum of N1,095,107,822.95 (one billion, ninety-five million, one hundred and seven thousand, eight hundred and twenty-two Naira, ninety-five Kobo only) in full and final payment of the Customer’s indebtedness to the Bank, provided that same shall be fully paid not later than thirty (30) days from the date of this letter.

Please note that in the event of failure by the Customer and you, in pursuance of your Personal Guarantee, to fully pay as herein advised, the Bank will be constrained, to reverse the concession herein granted, and charge interest appropriately on the said conceded indebtedness of N1,095,107,822.95 (one billion, ninety-five million, one hundred and seven thousand, eight hundred and twenty-two Naira, ninety-five Kobo only) from January 2012, until same is fully paid.

The Bank shall thereafter be constrained to commence recovery steps against you as Guarantor, to ensure the recovery of the said indebtedness without further recourse to you”.

Innoson Nigeria Limited and its Chief Executive Officer/Managing Director, Mr. Innocent Chukwuma, on Friday withdrew an ex parte application they filed against the Economic and Financial Crimes Commission.

The other defendants in the ex parte application filed before the Federal High Court in Lagos are the Federal High Court, the Attorney General of the Federation, the Nigeria Police Force, the Inspector-General of Police and Guaranty Trust Bank.

In the ex parte application, Innoson alleged that his recent arrest and detention by the EFCC was at the instance of GTB.

Though the ex parte application was filed on Thursday, Justice Hadiza Shagari had adjourned till Friday to hear it.

When the matter was, however, called on Friday, counsel for GTB, Adebowale Kamoru, showed up in court, saying his client knew about Innoson’s move to get injunction against them.

Kamoru, in an application he brought before Justice Shagari on Friday, prayed the court to decline entertaining Innoson’s ex parte application, on the claim that Innoson and his company had suppressed material facts.

Citing several judicial authorities, he prayed the court to grant leave for his client to be heard in the case.

In response, Innoson’s lawyer, Prof. MacCarty Mbaduagha, said he had been instructed by his client to withdraw the ex parte application.

Kamoru did not oppose him.

Consequently, Justice Shagari granted Mbaduagha’s prayer.

“In view of the application of the applicants’ counsel, the application is hereby granted,” the judge held.

Nigeria’s unemployment rate worsened from 16.2 percent in the second quarter of 2017 to 18.8 percent in the third quarter of the year, the National Bureau of Statistics said on Friday.

The NBS said the number of people within the labour force who were unemployed increased from 13.6 million in the second quarter of the year to 15.9 million in the third quarter of same year, with more than two million people unemployed within the period.

Similarly, the number of underemployed increased from 17.7 million in the second quarter to 18.0 million in Q3 2017.

Data released by the NBS showed that the rise in the rate was occasioned by the economic recession that saw the nation’s growth decelerate until September 2017 when Nigeria finally exited recession.

“An economic recession is consistent with an increase in unemployment as jobs are lost and new jobs creation is stalled,” the report said.

“A return to economic growth provides an impetus to employment. However, employment growth may lag, and unemployment rates worsen especially at the end of a recession and for many months after.”

The report said economically active or working age population (15 – 64 years of age) increased from 110.3 million in Q2 to 111.1 million in Q3 2017, while the labor force population increased from 83.9 million in second quarter to 85.1 million in Q3 2017.

The total number of people in full-time employment (at least 40 hours a week) declined from 52.7 million in Q2 2017 to 51.1 million in Q3 2017, it said, adding that total unemployment and underemployment combined increased from 37.2 percent in the previous quarter to 40.0 percent in Q3 2017.

During the quarter Q3 2017, 21.2 percent of women within the labour force (aged 15-64 and willing, able, and actively seeking work) were unemployed, compared to 16.5 percent of men within the same period.

The report also noted that underemployment was predominant in the rural areas as 26.9 percent of rural residents within the labour force in were underemployed compared to 9 percent of urban residents within the same period.

BUA International Limited has lauded Dangote Cement Plc’s resolve to maintain status quo while awaiting the outcome of the court suit over the contentious Obu Mines of No. ML2541 located in Okpella, Edo State.

Recall that the contentious issue over the mines have been reported to a competent court of jurisdiction which has ordered all parties: BUA, Dangote, and the Ministry of Mines and Solid Mineral as well as other stakeholders to maintain status quo until a fair resolution is achieved.

We also reported that the management of Dangote Group, during the last weekend accused BUA of engaging in illegal mining of limestone deposited in its Mining Lease, No. 2541.

However, Dangote said in a statement on Wednesday that it will obey the court and maintain status quo.

Speaking on Dangote’s decision to maintain status quo, BUA said in a statement that it hopes that with the statement by Dangote Cement Plc, an end to the continued cycle of harassment or clandestine moves by certain stakeholders to usurp the powers of the courts and disrupt it operations at the Obu Mines will be achieved.

The statement reads: “BUA International Limited, owners of BUA Cement, heartily welcomes the resolve by Dangote Cement Plc to await the outcome of the courts in their corporate disclosure published on the Nigerian Stock Exchange website dated 20 December, 2017 and titled, “DANGOTE CEMENT – RESPONSE TO BUA ALLEGATIONS”.

“This is in line with what BUA has always insisted and we appreciate the decision to wait for a judicial outcome rather than resorting to self-help and/or using influence and certain agencies of government in disrupting operations at some of BUA’s mining areas covered by ML18912 and ML18913 in Obu, Okpella, Edo State.

“With respect to the statement by the Ministry of Mines published in Punch Newspapers of December 8, 2017 and alluded to by Dangote Cement Plc in its statement, BUA wishes to state that we have responded to the ministry through our lawyers and via other media.

“BUA remains resolute and unequivocal about its stand that ‘Status Quo be preserved’ as instructed by the Federal High Court sitting in Benin in Suit No. FHC/B/CS/7/2016 BUA International Limited & BUA Cement vs. Hon. Minister of Mines & Steel Development and Dangote Cement Plc.

“For the purpose of clarity, this means that BUA remains in possession of the Mining Areas covered by Mining Leases 18912 and 18913 in Obu, Okpella, Edo State and will continue to exercise its rights to operate those mines in line with the dictates of the courts. If anyone or any stakeholder (especially the Ministry) remains in doubt as to what ‘Status Quo’ means in this case, they are free to write to the courts for an interpretation.

“BUA also affirms that it fully intends to abide by the outcomes of the judicial process as provided by the laws and Constitution of the Federal Republic of Nigeria.

“BUA also hopes that with the statement by Dangote Cement Plc, this will put an end to the continued cycle of harassment or clandestine moves by certain stakeholders to usurp the powers of the courts and disrupt operations at our site in a clear disregard of existing court directives.

“BUA therefore enjoins and urges all stakeholders involved – not limited to the Edo State Government, the Ministry of Mines and Steel and other parties – to also await the outcome of the judicial process in the interest of a competitive business climate governed by the rule of law in Nigeria.”

The House of Representatives has given a warrant for the arrest of the Managing Director of the Nigeria Maritime Administration and Safety Agency, NIMASA, Dakuku Peterside.

The House adhoc panel probing the status of Treasury Single Account, TSA, resolved to issue the warrant against Peterside on Thursday for consistently failing to appear before it.

The committee, which is headed Abubakar Nuhu Danburam (APC, Kano), at a session in Abuja said Peterside, who was a member of the House during the 7th Assembly, has been taking them for a ride.

He noted that Peterside has received several letters to appear and clear the air on the remittances made by NIMASA to the TSA, but has failed to sponded to the letters.

According to him, being a former member of the House, Peterside, also an APC chieftain, was well abreast of all the legislative procedures, but he ignored all that for reasons best known to him.

“What we’ve done so far is that a motion has been moved that NIMASA DG has been failing to appear before us despite several letters. He is a former member of this House, and he knows how the procedure is.

“We’ll be presenting a request before the plenary to ask that an arrest warrant be issued against him.

“As for bank CEOs that aren’t here, we have discussed with some of them.

“We’ll give them another date. But if you’re not a CEO here, you can take your leave,” he said.

…Details of GTBank/Innoson transaction revealed

Recently, the Innoson/GTBank story has gained so much media prominence, especially following the arrest of the Innonson chairman a few days ago by EFCC. Though the case is pending in court, Innoson has taken the battle to social media. There have been numerous sponsored social media campaigns against the Bank such as #BewareOfGTBank and #WhatIsWrongWithGTBank. The company has also gone Television, with its owner, Dr Innocent Chukwuma granting an interview to TVC, where he claimed he had obtained a judgement of N8bn against the bank. He added that the bank pleaded with him over their inability to pay, and that he graciously offered to accept shares of the bank as payment.

GTBank on their part has chosen to remain silent on the matter, perhaps trusting in the integrity of the legal system as against playing to the gallery. Many attempts by us to get the bank’s representatives to comment on the story has proven abortive. A staff of the bank who spoke under anonymity, stated “Irrespective of the issues we are facing with the company, Innoson remains a customer of the bank and we owe him a duty of confidentiality and to conduct ourselves in a responsible manner towards him”. This statement didn’t stop us from conducting our own investigations on the matter, and below are our findings, put in bullet points for your optimum understanding.

The obvious:

Innoson is, and still remains, a customer of GTBank.

GTBank not behind Innocent Chukwuma’s arrest as EFCC states N1.4bn fraud and usage of forged documents to secure tax waivers as reason for arrest.

What we discovered:

GTBank (in 2009) granted Innoson several credit facilities (i.e loans) totalling N2,400,000,000,00 (two billion, four hundred million Naira only), to part finance working capital requirements, import new motorcycles and motorcycle spare parts, agricultural spare parts and plastic manufacturing equipment (“Imported Goods”).
Under the loan terms agreed by Chief Innocent Chukwuma on behalf of Innoson, proprietary interest in the Imported Goods was consigned exclusively in favour of the Bank. This means that the Bank was the exclusive owner of the Imported Goods. Accordingly, the original shipping documents (i.e. the Bills of Lading) were in the custody of the Bank, and have remained in the custody of the Bank at all times.
Because GTBank was the exclusive owner of the imported goods, ownership of the goods could only be transferred to Innoson (or any other third party) by the Bank. The condition in the agreement between the Bank and Innoson, for the release of the Imported Goods by the Bank to Innoson, was the payment of 25% of the value of each Letter of Credit transaction by Innoson.
What we learnt:

Innocent Chukwuma approached the Bank, on behalf of Innoson, requesting the release of the shipping documents without payment of the agreed+ 25% equity. The Bank declined his request as a result of Innoson’s failure to meet the agreed conditions.
It came to the Bank’s knowledge sometime in June, 2011 that the Imported Goods for which the Bank declined to release shipping documents to Innoson in view of its failure to meet the agreed conditions, had been fraudulently procured by Innoson.
The Bank discovered that Innoson, under the control of Dr. Innocent Chukwuma had forged the Bank’s endorsement on the bills of lading to the Shipping Line and fraudulently cleared the Imported Goods which were in the name of the Bank. The Imported Goods, being property of the Bank should not have been cleared from the Port without the original shipping documents being endorsed by the Bank in favour of Innoson, or any third party.
The signatures of 4 (four) staff of the Bank, to wit, Taofeek Olalere, Dan Attah, Bunmi Adeyemi and Amazu Amalachukwu, as well as the Bank’s stamp were forged on all the shipping documents used by Innoson to fraudulently clear goods at the port. The Bank did not at any time endorse or transfer the shipping documents to Innoson, as the originals of each of the relevant Bill of Lading remain in the Bank’s custody to this very day.
When the Bank reported the matter to the Nigeria Police, Dr. Innocent Chukwuma claimed the Bank released the shipping documents to him. Consequently, the Police commenced investigation into the Bank’s complaint, including a forensic examination of the disputed signatures, and established that the signatures of the Bank’s staff were forged, and the Imported Goods were fraudulently cleared from the Nigerian Ports Authority by Dr. Innocent Chukwuma and his accomplices.
What we heard from the Police:

Police investigations confirmed that Innoson and Dr. Innocent Chukwuma deliberately set out to defraud, steal from the Bank and convert the Imported Goods belonging to the Bank by deceptive means and through forgery and misrepresentation. The unlawful takeover of the Imported Goods, which served as the Bank’s collateral, left an indebtedness in excess of the sum of N1,654,481,895.04 (one billion, six hundred and fifty four million, four hundred and eighty one thousand, eight hundred and ninety five Naira, four Kobo) as at September 26, 2012.
Chief Innocent Chukwuma was arrested and interrogated by operatives of the EFCC, following which he agreed to make monthly payments into Innoson’s account until the full liquidation of Innoson’s indebtedness to the Bank. However, Innoson defaulted in making the agreed payments. Investigations by the Nigeria Police following a petition by the Bank in September 2013 also found Innoson and Chief Innocent Chukwuma culpable of the criminal allegations levied against them by the Bank, and Chief Innocent Chukwuma was accordingly charged to court by the Police.
The Police filed Charge No. FHC/L/565C/2015-Inspector General Of Police And Innoson Nigeria Limited; Innocent Chukwuma; Charles Chukwuma; Maximian Chukwura; Mitsui Osk Lines; Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to November 21, 2017 for arraignment/or hearing of motion for issuance of Bench Warrant.
What Innoson did:

Innoson approached the Bank for a reconciliation of his account and pleaded for a debt forgiveness. A reconciliation was carried out on the account – which had a debit balance of N1,654,481,895.04 as at December 31, 2011. In the spirit of amicable resolution and EFCC intervention, the Bank said it agreed to forego the sum of N559,374,072.09 which represented default charges that has accrued on the account and debited in line with the loan agreement between the customer and the Bank.
Based on this, the Bank decided to accept from the customer, the sum of N1,095,107,822.95 as full and final payment of the customer’s indebtedness to the Bank, provided that same shall be fully paid not later than (30) days from the date of the letter written to him
Surprisingly, Innoson commenced suit no:FHC/AWK/CS/2012 against the Bank at the Federal High Court, Awka stating the bank had debited its account with excess charges totalling N559,374,072.09 and obtained judgement in excess of N4.7Billion against the Bank. Again choosing to dishonour an agreement that was amicable reached between him and the Bank for a full and final settlement of N1,095,107,822.95 wherein the Bank graciously forgave him the sum of N559,374,072.09 which accrued on his account during the period which he abandoned his account.
To further stall the criminal proceedings against him, Chief Innocent Chukwuma and his company instituted suits at the Federal High Court, Abuja, as well as the Federal High Court, Awka in January 2014 against The Inspector General of Police, The Nigeria Police Force and Investigating Officer(s), seeking declaratory and injunctive reliefs, including orders restraining the Police from commencing criminal proceedings against Innoson and Chief Innocent Chukwuma. Furthermore, in a bid to stall the Bank’s recovery steps, and distract the Bank from focusing on the criminal action, as well as civil actions filed for recovery of the debt, Chief Innocent Chukwuma and his company Innoson, have continued to institute various spurious suits before various courts, claiming frivolous and outrageous sums against the Bank.
What EFCC is saying

In a statement issued by the Head of Media and Publicity of the Economic and Financial Crimes Commission, Wilson Uwujaren, he said, “The Economic and Financial Crimes Commission has released Nnewi, Anambra-State born Industrialist, Chief Innocent Chukwuma on bail.

“The business man who runs a local auto assembly plant was arrested on Tuesday December 19, 2017 at his Enugu residence, following his refusal to respond to invitations by the Commission, after initially being granted administrative bail by the Commission, while his surety could also not be found.

“Unfortunately the industrialist resisted arrest and stirred controversy by bringing six truck-loads of thugs to block the entrance to his Plot W1, Industrial Layout, Abakaliki Road, Emeni, Enugu, home.

“This was after he initially misled the Police Command by informing them that his home had been invaded by armed robbers and kidnappers despite the fact that operatives of the Commission duly identified themselves to policemen guarding his home.

“His unruly thugs encircled and manhandled operatives of the Commission who had gone to effect the arrest. Consequently, a distress call was sent to the Commission’s Enugu Office for reinforcement.

“In all of this, the Commission’s operatives acted with decorum and civility. No one was manhandled or assaulted by the EFCC team, and not a single shot was fired, despite the provocation.

“Chief Chukwuma and his brother, Charles Chukwuma (who is still at large), are being investigated by the Insurance and Capital Market Fraud Section of the Commission’s office in Lagos over matters bordering on N1, 478, 366, 859.66 fraud and forgery.

‘The industrialist, among other infractions, allegedly used forged documents to secure tax waivers.”

What GTBank is not saying:

In responding to Innoson’s motion for a stay of criminal proceedings at the Court of Appeal, the Honourable Justice J.S Ikyegh on September 17,2017 dismissed the motion for being unmeritorious and ordered that proceeding in the criminal case against Innson should proceed.
2. On October 12, 2017, the Police through its Charge No. FHC/L/565C/2015- filed an application for the issuance of bench warrant against Innocent Chukwuma; Charles Chukwuma and Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to Decemeber 8, 2017 for arraignment/or hearing of motion.

So much is being said of the arrest of Innoson Boss, Innocent Chukwuma, yet there has been very little or no solid information on the matter. As a result, a lot of what is being spread in the news and on social media, are more false than fiction. Here, for example, are 5 myths about the Innoson saga.

1. 700 Million Naira excess charges

Many on social media and elsewhere have been quick to spread the story that GTB stole 700 million from Innoson.

Research shows this to be wholly false. In fact, nowhere is the sum of 700 million Naira even mentioned in the Innoson case. What is actually the case is that after being found culpable of forgery and other fraudulent crimes by the police, Innoson approached the Bank and pleaded for debt forgiveness. The bank, out of goodwill, accepted his plea and agreed to forego the sum of N559,374,072.09 which represented default charges that has accrued on the account. Innoson also promised to pay back, within 30 days, the sum of N1,095,107,822.95 as full and final payment of his indebtedness to the Bank. Instead of honoring this agreement, Innoson filed a new case at the Federal High Court, Awka claiming that the bank had debited his account with N559,374,072.09, the exact sum that the bag had forgiven him in default charges. He has continued ever since, to claim falsely that the bank owes him.

2. Tribe is involved

Many are also spreading rumours that the case against Innoson is tribalistic. This is a dangerously false narrative. The case against Innoson has nothing to do with where he comes from; it is simply a case of a debtor, in this case, Innoson, trying to avoid repaying the money he borrowed and trying to evade the case of forgery against him (See Story Here). It’s begs common sense to assume that a bank, in this case GTB, which was not be accused of tribalism when it gave Innoson the loan, would now be accused of such now that it is trying to recover funds. These funds, by the way, are owned by customers, many of who undoubtedly are of the same tribe as Innoson.

3. The political angle

Some have tried to link the Innoson Saga to politics, but the fact of the matter is that it is entirely about business and breach of trust. It is important to note that the case between GTB and Innoson began more than seven years ago, that is, before the ruling APC was even formed as a political party.

To give a little background on the matter, GTB loaned Innoson N2.4bn in 2009 to import spare parts for his company. Under the loan terms, GTBank was the exclusive owner of the Imported Goods. The condition in the agreement between the Bank and Innoson, for the release of the Imported Goods by the Bank to Innoson, was the payment of 25% of the value of each Letter of Credit transaction by Innoson. Later, Innoson approached the Bank requesting the release of the shipping documents without payment of the agreed 25%. The Bank declined his request as a result of Innoson’s failure to meet the agreed conditions. Innoson then fraudulently cleared all the imported Goods by forging the signatures of 4 (four) staff of the Bank as well as the Bank’s stamp on all the shipping documents. The Bank reported the matter to the Nigeria Police, and the police confirmed that Innoson deliberately set out to defraud, steal from the Bank. And this brings us to the fourth myth of the saga, which is that the case is a civil matter.

4. It is a civil case

Another claim out there is that the Innoson case is a civil matter which neither the EFCC nor the Police should get involved. Again, this is false. The Innoson saga is a criminal matter because he has been found culpable by the police of deliberately setting out to defraud, steal from the Bank and convert the Imported Goods belonging to the Bank by deceptive means and through forgery and misrepresentation. On October 12, 2017, the Police through its Charge No. FHC/L/565C/2015- filed an application for the issuance of bench warrant against Innocent Chukwuma; Charles Chukwuma and Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to Decemeber 8, 2017 for arraignment/or hearing of motion.

To further stall the criminal proceedings against him and the Bank’s bid to recover its funds, Innoson has been trying to distract the Bank from focusing on the criminal action, as well as civil actions filed for recovery of the debt. This includes propagating false and inciteful stories against the bank through frivolous and outrageous claims.

By Emeka Nwachukwu
This morning, I feel the need to let out my voice and speak on this raging issue; I apoligize in advance to those who might feel offended but I sincerely feel a need to speak on this and educate people.
It’s on this issue of GTBank and Innosson.
Suddenly the matter has taken a curve and suddenly its being cited as another “attack” against the Igbos. Suddenly there is a war cry: All Igbos must close their GTB accounts and move them to Igbo banks.
Suddenly, with the lapse of the last “Biafra” episode, another opportunity has been presented for another macabre dance.
I don’t know Innosson. Neither do I have any relationship with GTBank. I read through what reportedly transpired and without prejudice, GTBank might have appeared to have acted inappropriately like ALL our banks do.
On the other hand, GTBank has alleged that Innosson presented false import papers etc. I can see a transaction that went awry, but no tribal targeting; it was basically business.
And at any rate, to those chanting the tribal song, even if we were to agree with you for an insane moment, where were you when GTBank, a “Yoruba” bank loaned that large amount to Innosson? Why didn’t he get the money from supposedly “Igbo” banks?
How come our Igbo brothers who are bank CEO’s didn’t grant him the same loan or more to support a brother, an Ndigbo?
When the relationship was good, no one sang any tribal song!
I recall the noisy case of GTBank and the late Arisekola. Given Arisekola’s prominence, shouldn’t we have said it was an attack against the Yorubas by the same GTBank? By now it must be clear that the owners of GTBank are natives of Mars and not Nigeria, they’re a financial institution and not king makers !!!
Truth is there is nothing tribalistic about this matter. I see a bank that wants its money back at all cost especially at a time that the economy is poor.
I see a bank that’s supportive to any and every entrepreneur but also wants to make money and grow its brand.
These things did not happen because the owner of Innosson is Igbo. People forget that GTBank has many major Igbo shareholders.
I call on men and women of goodwill. Nigerians from the East, West, North and South. Let’s join forces and rally against this nonsense which sadly is being sponsored by supposedly educated people. Let’s blame GTBank if they have behaved inappropriately. Let Innosson continue to approach the Law for relief.
If you quit GTBank today and migrate to another bank, how sure are you those banks won’t mess you up tomorrow?
Stop The Ethnic Crusade, Kill Sentiments!!!

.. Says Buhari is the ring leader of corruption

The Action Democratic Party (ADP) has noted with serious concern the level of corruption under the leadership of President Muhammadu Buhari.

In a statement made available to newsmen in Lagos by its Lagos State Publicity Secretary, Prince Adelaja Adeoye, he said that “Buhari has become the ring leader of corruption in Nigeria, where funds meant for the development of the country are looted in broad day light.”

“ADP is seriously worried that a whopping sum of $1billion will be withdrawn from the Excess Crude Account (ECA) to fight Boko Haram which the same government, through the Minister for Information, Culture and Tourism, Alhaji Lai Muhammed had earlier claimed to have defeated.”

“Not long ago, a House of Reps committee exposed another corruption where over N50billion meant to be in TSA was lodged into a secret account in total contravention of Nigeria’s TSA policy. Nigerians are also in deep confusion over this development; corruption has been taken to unimaginable levels under this government.”

“It is sad that same Buhari who was massively voted for in 2015 under the ‘change mantra’ with huge expectations that he will fight and bring corruption to a conclusive end has turned out to be the major supervisor. This was the same president Buhari who once wrote a letter to the Senate to absolve Babachir Lawal of the N500million Grass cutting scandal. Even after been forced by Nigerians and civil society to sack the Lawal, he is yet to be prosecuted. The same Buhari has against several court orders, locked Dasuki who is facing a similar corruption case in prison. It is evident that Buhari is no longer fighting corruption but fighting his perceived political enemies.”

“Since Buhari’s government has given thrust to ‘free for all’ corruption, even civil servants don’t want to be left out in the looting business. This has prompted one Tumsah, who is a director of finance and account in the Federal Ministry of Power with salary not more than N500,000 to fraudulently procure a over 86 exotic vehicles between 2016 to 2017″

“Its worrisome that this crude style of approving funds and lodging monies into secret accounts few months to election year is happening and we don’t want to believe that all these funds are meant for the inglorious reelection bid of President Buhari in 2019”

“ADP as a credible alternative will bring forward men of good character and capacity to replace the looters in 2019 and we urge Nigerians to support the party in order to end impunity and underdevelopment. Our party will enthrone good governance, respect for all Nigerians and bring true development to Nigerian economy to improve the lives of all citizens”

Fresh facts have been presented by a lawyer who is an insider over the EFCC and Innosson motors saga.

Real below the account:

Guys, we are all educated in one way or the other and it’s good to research and get proper facts before commenting or condemning one party over the other. People are saying “free innoson”, without even asking questions on what he did to justify his arrest. Has anyone bothered to get the underlying facts from the Bank or EFCC?

We hear that GTB financed importation of certain spare parts and Goods for Innoson. based on the nature of the banking facility granted to Innoson by GTB, the Goods were imported in the Bank’s name and the original bills of lading which were in the Bank’s name were sent directly to the Bank by the Exporter.

Innoson was required to pay 25% of the value of the Goods to enable the bank endorse the shipping documents to him so he can clear the Goods. Innoson approached the bank saying he did not have the 25% to pay, and begging the bank to release the Goods.

The bank refused, saying the agreement they both signed must be followed, and that innoson should pay the 25% to get the Goods released to him. Probably out of desperation, Innoson forged the Bills of Lading as well as the Bank’s endorsement (ie the bank’s stamp and Signatures of the Bank’s staff) to clear the Goods from the ports.

We hear that Efcc concluded its investigation as far back as 2012 and prepared charges against innoson. The police also investigated Innoson and found him culpable.
Forensic examination was also done which confirmed forgery of the bank’s shipping documents particularly as the original bills of Lading were presented by the bank during the investigation. Shouldn’t we be asking: Where are the bank’s goods? How did innoson clear the Goods from the Ports? Ok, even after selling the Goods, did he pay the money to the bank? I think Innoson should answer these questions. I saw something online about the police charging innoson to court for fraud and innoson refusing to appear in court for trial for two years! Is Innoson above the law?

I know innoson claims he got judgment against the bank and the bank is only trying to victimize him. I am a lawyer and if indeed he has a final judgment, Innoson shouldn’t be trying to enforce legal judgement on twitter or Facebook…..

Why doesn’t he take legal steps to get his money from GTB? I would like to believe that the issue of monetary judgments is a purely commercial issue which is currently before the courts and yet to be fully determined.

The issue EFCC arrested him for is a criminal matter (forgery of shipping documents). Should Innoson go free because of his tribe or because he is an indigenous vehicle manufacturer? Even the shipping company and shipping agents that facilitated the fraud are not left out of the investigation.

For me, GTB and innoson should conclude their civil matters in court, while the law enforcement agents should be allowed to do their job as far as the issue of crime and fraud is concerned.

…Launches 2018 armed forces remembrance emblem
…Donates N25m, bags of rice to families of fallen heroes

Lagos State Governor, Mr. Akinwunmi Ambode on Wednesday directed Legionnaires to take charge of security in public schools in the State so as to forestall all forms of crime in schools.

Governor Ambode, who spoke while launching the 2018 Armed Forces Remembrance Emblem at the Lagos House in Alausa, Ikeja, said his administration remains totally committed to ensuring safety of pupils across all schools in the State.

He said: “What is important is that we have taken as a matter of fact to take care of our public schools which will henceforth be secured by the Nigerian Legion. We promise to give surveillance vehicles to them to enhance security and keep the safety and security of our children in their hands.”

Launching the Emblem, the Governor said the event has continually served as a reminder of the gallantry and sacrifice of men and women of the Nigerian Armed Forces that have in no small measure contributed in protecting the nation’s cherished sovereignty.

He said that it was important to remember them, especially for paying the supreme price of keeping the country safe and secure in challenging periods, and for achieving unity at the expense of loosing their lives.

“It is time to engage ourselves in deep reflection of how such homes have been coping and how the widows and children left behind have been surviving, without important loved ones. It is time to rise in support by alleviating some of their needs, it is the time to express our love, extend appreciation and show gratitude to them for their services to our fatherland.

“We must indeed show to each and every veteran that their service to Fatherland is appreciated, not just by the Nation, and the State, but also by ordinary individual citizens of this great nation.

“It is important that we can continue live in unity and peace. Accordingly, we must use this opportunity to convey symbolic messages to our serving Military men and women, that services and sacrifices to the Nation will always be rewarded and appreciated, to inspire them to be more patriotic and motivate them to give their all in the protection and security of our dear country,” Governor Ambode said.

While urging Nigerians to always treat ex-servicemen with respect and donate generously in the support of the Nigerian Legion, Governor Ambode announced a donation of N25million as well as trailer load of rice to aid the welfare of the families of fallen heroes.

“Also in this yuletide, we extend a trailer load of Lake Rice and N25million to the Nigeria Legion” he said.

Earlier in his opening remarks, the State Commissioner for Home Affairs, Dr Abdul Hakeem Abdul Lateef, emphasised the need for all citizens to appreciate the gallant fallen heroes through donations for the welfare and upkeep of their families.

Also speaking, Chairman of Lagos State Branch of Nigerian Legion, Col Samuel Akanbi (Rtd) commended Governor Ambode for his efforts at rapidly transforming the State and fulfilling the promises made to the Legion.

Mamah Stanley Emeka, Nigeria’s multi-talented entertainer otherwise known as Nedro (Fireboy) has revealed the secret of his relationship with award-winning dancehall act, Patoranking.
Nedro, who has hitherto worked with the likes of DJ Secxy, Skuki, Tosyn Buknor and N6 among others, hinted that featuring Patoranking in his new heavy tune titled ‘Once Upon a Time’ is one of the steps he is taking to raise the bar.
He added that “Patoranking is a talent I have maximum respect for. In fact, we have bonded so well now that people think we are from the same family –that is the spirit. We have mutual respect for one another.”
‘Once Upon a Time,’ produced by Mix Master Garzy from Ghana, has been enjoying encouraging reviews from music pundits, while the video, directed by multiple award-winning Clarence Peters, has no doubt proved to be the icing on the cake.
Nedro, born in 1993, is a Nigerian born artist, singer, songwriter and performer originally from Nsukka in Enugu state.
In 2013, Nedro decided to give his musical career a professional shot with the release of his first single ‘Like to Know’ under the affiliation of Knight House. In 2014, he dropped another project ‘Dobale’ featuring Phenom. This was closely followed by an EP of seven tracks in 2015 which featured N6, Makiller and Tosyn Buknor.
In early 2016, Nedro’s resilience and hard work paid off as he was signed to an international record label Timbaze Music under which he dropped his first official single ‘Duronor’ with a video directed by Stanz Visuals.
Later that year, he dropped another song, ‘Boju’ with a video directed by Avalon Okpe which got a spectacular acceptance and airplays in various radios and TV stations.

The Economic and Financial Crimes Commission (EFCC) on Tuesday, December 19, arraigned the duo of Temitope Oluwasanmi and Augustine Olayinka before Justice Mojisola Dada of the Lagos State High Court sitting in Ikeja on a seven-count charge bordering on conspiracy, stealing and fraudulent diversion of funds to the tune of N116m.

The first defendant, Temitope Oluwasanmi, an employee of Union Bank of Nigeria (UBN) Plc, was arrested by operatives of the EFCC sometime in October 2017, following a petition received by the Commission from the bank.

Oluwasanmi is alleged to have diverted the sum of N116 million to the savings accounts of three individuals, who are said to be his friends: Augustine Olayinka (account no.: 0050657770), Oginni Opeyemi ( account no.:0046585982) and Ogbaro Oluwaseyi (account no.: 0061074951).

The defendants pleaded not guilty to the charge when it was read to them.

One of the counts reads: “That you, Temitope Oluwasanmi, Augustine Olayinka, Oginni Opeyemi (still at large) and Ogbaro Oluwaseyi (still at large) sometime in 2015 in Lagos, within the Lagos Judicial Division, conspired to commit felony to wit stealing”.

Another counts reads: “That you, Temitope Oluwasanmi, whilst being an operating staff in the e-business Department of Union Bank of Nigeria Plc., between March 2017 and October 2017, in Lagos within the Lagos Judicial Division, with intent to defraud, transferred the sum of N116, 000,000 (One Hundred and Sixteen Million Naira) into the nominee accounts of Augustine Olayinka Opeyemi (still at large) and Ogbaro Oluwaseyi (still at large) knowing same to be proceeds of crime.’’

In view of their pleas, the prosecution counsel, E.A. Oyedotun-Laleye, asked the court for a trial date and also prayed the court to remand the defendants in prison custody pending the determination of charge preferred against them.

Counsel to the first defendant, Frank Eke, and counsel to the second defendant, Femi Banjo, moved applications for bail on behalf of their clients.

However, the prosecution counsel, Oyedotun-Laleye, opposed the bail applications.

Justice Dada, however, admitted the first defendant to bail in the sum of N2million with two sureties in like sum.

One of the sureties must have a landed property within the jurisdiction of the court.

The sureties must provide the court with a proof of payment of tax in the last three years.

Justice Dada also granted the second defendant bail in the sum of N1m and two sureties in like sum.

One of the sureties must have a landed property within the jurisdiction of the court.

The sureties must provide a proof of payment of tax in the last one year to the court.

Justice Dada ordered the defendants to be remanded in Ikoyi Prison pending the perfection of their bail conditions.

The case was adjourned to January 25, 2018 for commencement of trial.

...As sales continue in designated centres

In its bid to ensure even and fair distribution of LAKE Rice product to the nooks and crannies of Lagos, the State Government has sought the participation of major rice distributors in Lagos and signed a partnership agreement with the distributors in the transportation, distribution and marketing of LAKE rice.

Special Adviser to the Governor on Food Security, Mr. Ganiyu Okanlawon who signed the partnership agreement on behalf of the Lagos State Government said the agreement will ensure that residents get LAKE Rice not just from designated sales centres but also from the open market at the official government price.

Okanlawon explained that the agreement which is valid for one year in the first instance and may be extended by mutual agreement in writing for additional period, involves major distributors in various rice markets in the State which have the capacity to receive and distribute large tonnes of LAKE Rice during after the yuletide season.

“The distributors shall transport and market LAKE Rice, engage in equitable distribution of the product by avoiding hoarding and other sharp practices and ensure all year round continuous and equitable distribution of LAKE Rice,” he said.

While noting that the need to ensure availability of the product to citizens is key in the State’s drive to attain food sufficiency, the Special Adviser said that food production and self-sufficiency have been given priority attention at State’s policy and strategic level.

Okanlawon who implored the distributors not to default in the agreement assured the distributors of Lagos State Government commitment to keep its end of the bargain.

Speaking earlier, the Permanent Secretary, Ministry of Agriculture, Mr. Olayiwole Onasanya explained the agreement sets out the terms upon which the parties will co-operate with each other for execution of the scheme.

He added the State government will verify claims of address and warehouse or shops of the distributors, approve all business plans before implementation and conduct regular monitoring visits with respect to capacity and effectiveness of the distributor.

Responding on behalf of the distributors, the Iyaloja of Daleko Rice Market, Mrs. Ibilola Sholaja thanked the State Government for the opportunity given to distributors to be part of history in the sale of LAKE Rice.

She assured the State Government that distributors will abide by the terms of the agreement.

Popular Nigerian musicians Olamide Small Doctor, Humblesmith, Pasuma, Salawa Abeni, Ras Kimono, Saheed Osupa and Pasuma are set to usher in the New Year with top-notch performances.

Lagos has announced a talent hunt as the state begins an eight-day fiesta that would usher residents into the new year of 2018.

Officials of the state including information commissioner Steve Ayorinde and Aramide Giwanson, the special adviser on tourism, arts and culture, confirmed this at a press conference on Friday, December 15, 2017.

Giwanson said the winner of the talent hunt will get N150,000 and a possible placement with a record label if he is a singer. The special adviser said the first runner up would get N100,000 while the second runner up would get N50,000.

“The audition for this programme starts from Tuesday, December 19 to Thursday, December 21, 2017 in all the five divisions of the state. The two finalists that will emerge from each division will compete during the One Lagos Fiesta.”

She added that talents would be hunted in areas like music, comedy, dance and creative exploits. “If anyone is talented in any of these areas and looking for a platform to showcase his/her skills and begin a rewarding journey to stardom, then One Lagos Fiesta is the platforms such individuals need.”

Also, over 100 artistes cutting across all genres are expected to perform at the eight-day event. Accordingly, some of the artistes expected to perform include Olamide, Sunny Ade, Humble Smith, Small Doctor, Adewale Ayuba, Salawa Abeni, Ras Kimono, Osupa and Pasuma.

According to Giwanson, the main goal of the event is to turn the divisions into tourist destinations with 40 concerts altogether across the locations.

Apart from this, the event is an opportunity to boost local economy and help local vendors and investors sell their products.

She also added that this year’s event would accommodate children with games. The government also assured of adequate security throughout the event.

Segun Agbaje, the managing director/CEO of Guaranty Trust Bank (GTBank), is not a popular man, to many, he is aloof, too strait-laced, not your typical run-of-the-mill Nigerian. As one of Nigeria’s foremost bankers, he has a reputation for running a tight and efficient ship, is unflinching in his pursuit and recovery of loans from the country’s systemically chronic debtors who have a sense of entitlement believing that they can borrow depositors’ funds without paying back, and does not give a hoot about those critical of his take-no-prisoners approach to banking.

In the media space, he does not seek publicity, he lets his work speak for itself, could not care less if his story or photograph makes the front page of the newspapers, limits his bank’s advertising spend to what he believes is necessary to market and promote GTBank to a wider audience, and through NdaniTV and Ndani Blog understands the power of the social media in reaching out to youths that make a larger percentage of Nigeria’s and regional demographic where the bank operates.

To me, Agbaje is the ideal banker. He is not my friend and we only interact sparingly and strictly professionally as the need arises. Yet, I cannot help but wish that we had more bankers like him in this country. If we did, fewer Nigerian lenders would have to make provisions for unpardonable impairment charges on bad loans given to delinquent debtors, fewer banks would engage in reckless insider lending that threaten their capital adequacy and liquidity ratios, more banks would recognise that they have a fiduciary responsibility to manage their customers’ deposits with care, and more banks would know how to sweat their assets in the most cost-efficient manner to make the most attractive returns to their shareholders.

In all the key parameters used in defining the size of banks, GTBank, among the five Tier 1 banks in the country, is not by any stretch of imagination the biggest. In terms of total assets, loans and advances, customer deposits, number of branches, and presence on the African continent and beyond, FirstBank, Zenith Bank and United Bank for Africa (UBA) stand head and shoulders above GTBank. By Nigerian standards, the “big three” could be called banking behemoths and are very difficult to supplant. Still, GTBank, with its cost optimisation strategy, asset quality and stability ratios, among others, has over time proved to be the most profitable bank in the country. Its stock has remained the bellwether in the banking segment of the Nigerian bourse for years, signposting the confidence institutional and individual investors have in the bank.

But this article is not about GTBank’s financial performance. Its annual and quarterly reports, including those of its peers, are public documents that can be readily accessed for in-depth comparative assessment. What I have found more interesting about the bank is its focus on corporate social responsibility (CSR) and interventions in key economic sectors targeted at strengthening small businesses through not-for-profit fairs and capacity building initiatives. For two years in a row, GTBank has solely funded and hosted its Food and Drink Fair and Fashion Weekends, making them social and tourist events that feature prominently on Nigeria’s social calendar.

That is not to say that the bank has not focused on other areas of CSR. Its 2016 annual report showed that GTBank spent about 58 per cent of the N449.62 million of its CSR funds on education alone while community development accounted for another 30.8 per cent.

But it is GTBank’s focus on food, drink and fashion that have been the most impactful publicly, bringing together scores of promising, talented and recognised local and international chefs and food vendors, drinks makers and merchants, fashion houses, milliners, fashion accessory designers and leather goods makers in a dizzying, well-put together and well-thought out extravaganza that leaves the public yearning for more.

Both events, which are open to the public, have been attended by several thousands of people, including children, for two years running that have left attendees breathless and wondering how the bank manages to package the two fairs in areas where it has no competencies.

The trick, says Agbaje, whom I had to hound to open up on the success behind both fairs, is getting and attracting the best participants and controlling costs by getting the bank to work directly with the contractors who have to build the stalls, decorate the venue, create play areas and cooking classes exclusively for children, and provide the music, etc., during both fairs; no middlemen or consultants are used by the bank. For him, the fairs present an opportunity for GTBank to deepen its footprint in the retail banking space and increase its SME lending from 2 per cent of the bank’s loan book to 10 per cent over the next five years.

With time, he would also rather extend more loans to small and medium-sized businesses that are more impactful on the economy and achieve a loan recovery rate of 70-80 per cent, than pursue Nigeria’s so-called “big men” with woeful credit track records. Although he was demur about what it costs his bank to host both events, he was emphatic that making money at this juncture is not the overdriving objective, at least not in the short-term, but recognises the long-term benefits not just for GTBank but other Nigerian lenders.

Beyond this objective and given the magnitude of both fairs and their potential to grow into annual events that could attract millions from across the global, Agbaje’s vision is not one to be trifled with. Already, the GTBank Food and Drink Fair and the GTBank Fashion Weekend create thousands of direct and indirect jobs and referrals for hundreds of young Nigerians who have to build the stalls, decorate the venue, and provide the music, entertainment, security and other support services to make them a resounding success. And they have the potential to create even more.

Aside the suppliers, vendors and designers that make brisk business and achieve record sales during the fairs, the Master Classes included in both events are helping to build capacity and drive innovation in the creative industry that has proved to be a major magnate for Nigerian and African youths. By bringing them under one roof, GTBank has also provided a platform for shared services and given them the exposure that help these small businesses to grow and create more employment opportunities.

Without doubt, both fairs are worthy initiatives. But they could be better. In the last two years, GTBank has handled both fairs singlehandedly without support from other institutions and/or the Lagos State government, a direct beneficiary of the events and their spin-offs. In 2016, the food and drink fair alone attracted 25,000 people; this year, it attracted 75,000 people. I do not have the numbers for the bank’s fashion weekends, but I can imagine that the number of visitors will not be far off from those who attended the food and drink fairs.

Given the swelling numbers, both fairs have already started to cause traffic gridlocks on the days they are held. They are also attracting touts and hoodlums who mill around the roads leading to the venue and try to pounce on unsuspecting visitors as they alight from their cars or walk to the venue. On a positive note, big and boutique hotels, restaurants and food caterers on the Lagos Island experience an upsurge in occupancy rates and patronage by participants and the international media who have flown in to take part or cover the events. All these translate to more tourist dollars, taxes and revenue generation for the federal and Lagos State governments.

The import of this should not be lost on the federal and Lagos State governments.

They have to do more than just show a passing interest in what GTBank has started.

Given the potential for both fairs to become global destinations for tourists and visitors on the African continent, Lagos State in particular needs to improve on its infrastructure in and around the venue where both fairs are held. It must improve on traffic management and security to ensure that visitors can move about with ease and feel secure. According to Agbaje, in terms of support, the state government has not yet stepped up to the plate, nor has his bank sought for any. But he does acknowledge that with time, GTBank will have to reach out to Lagos State because of the interest both fairs are generating in terms of attendance and participation.

Right now, Agbaje appears to be satisfied with what his bank has accomplished in terms of bringing both fairs to the public’s consciousness. But do the federal and state governments understand the roles that they have to play in institutionalising them and ensuring that they outlast his stewardship in GTBank? Cities like Rio de Janeiro, London, Paris, New York and Melbourne that host major sporting, fashion, carnivals, music and film festivals every year, attracting thousands of visitors do not owe their success just to corporate sponsors but to the municipalities, state and federal governments that understand their roles and lend the required support to the private sector. As such, Lagos State needs to buy into the GTBank fairs as a public-private partnership that can and should work.

Hon. Fatee Muhammed, an aspirant to the House of Representatives in Lagos State, businesswoman and Director-General, Atikunation, an Atiku Abubakar Volunteer Campaign Group, in this interview, speaks on her passion for public service, the Atiku presidency and charity. Excerpts…

Do you think it’s detrimental in the long term that women have to adopt an almost male persona in order to be taken seriously in politics?
In the first place, women do not even have to adopt a male persona in order to be taken seriously in politics. There are female managing directors of big organizations, who are wives, mothers and very feminine, but because they are good at their jobs, they attain such heights. A woman who is a good politician can also attain great heights in politics.

What challenges would you say a woman is likely to have to face and overcome in order to be validly elected governor or president in a country like Nigeria?
Challenges in politics are same for male and female, it does not recognize gender. Any determined female politician who wants to be a governor will certainly overcome the usual hurdles and will be elected governor and even president.

As a strong supporter of Alhaji Atiku Abubakar, and for the fact that Nigeria has always been unlucky with leaders that are authoritarian and domineering, would you like to give an insight into his personality that seems to be confusing some people?
That question makes me happy because it gives me an opportunity to erase the negative impressions people have about our principal, Alhaji Atiku Abubakar. Atiku is really a man that is passionate about the welfare of youths and women, he is an industrialist per excellence, his economic policy is evident and I know that when given an opportunity, he has what it takes to transform Nigeria.

A South Southerner has been elected the substantive chairman of the PDP. Meanwhile, there is the speculation that the new helmsman’s emergence may not be favourable to Atiku’s presidential dream. Do you share this view, and how exactly do you think the pendulum is going to swing in that regard?
I am happy you call it speculation because, that is what it is. May I remind you that party’s presidential candidate will have to be voted by the party delegates and not nominated by the party chairman? That is the rule. Besides, the new PDP chairman is a man we trust. He has been tested and he has the support of everyone of us.

On a personal note, how do you deal with difficult people?
I’d say I’m naturally a very blunt person so I don’t mince words in speaking my mind. I’m a react-on-the-spot kind of person but I guess age is calming me down. I’m a good manager too. I’m very good at managing people no matter the nature.

How do you ensure that, on the Atiku campaign task, your team is 100% committed to your strategy and the general rules, given that it is easier to buy loyalty than raise a loyalist?
Well, I’m happy I have a very dedicated team who would not be bought for a pot of porridge. We are men and women of proven integrity. Also, Nigerians are presently at the point where they will refuse to sell their birthrights. Many people are suffering, economy is terrible, parents have lost their jobs, businesses are dying etc. People are eager to return to their comfortable past. Still on loyalty, I’m confident what used to work in the past will definitely not work this time. So, loyalty is hard to buy in this kind of situation that we are in.

What is the most significant change that you think an Atiku presidency will bring about in Nigeria if elected president in 2019?
Atiku is our next president, In Sha Allah. He will bring the positive change we are yearning for. Our economy will return to its number one position in Africa. There will be restructuring of the nation, job creations, stable electricity and affordable health care, and many others.

As a businesswoman and an entrepreneur, how do you stay ahead of the competition given that the terrain is saturated?
To the glory of God, as a businesswoman, I am someone with a special unique selling point. So, that keeps endearing us to our customers. As an entrepreneur, I try as much to stay true to my passion for caring for the people in my own little ways. I do not give room to distractions.

The PDP and the Atiku camp obviously are in talks now. What would you advise the bargaining power between both parties should be like so that everyone is happy?
PDP desires to return back to power. Without being sentimental, the only candidate who can take PDP there is Atiku Abubakar. I’m certain both parties are aware of this fact.

What do you think should be a serious politician’s influencing style?
A serious politician’s influencing style is not necessarily a style but talking about the person of Atiku Abubakar, I’d say he is unique. He is very compassionate, a lover of fellow Nigerians irrespective of tribe and religion, a successful businessman, a man so passionate about the wellbeing of the youths and women of Nigeria.

Nigerian subscribers of some mobile networks in the Federal Capital Territory (FCT) have decried their inability to make calls or browse the internet in the last two days.
Many of the subscribers, who spoke with newsmen on Thursday, complained that they could not make or receive calls for about 48 hours now, especially on their MTN and GLO networks.
They said that they could not even send text messages because such messages usually returned undelivered.
Mrs. Kate Solomon, a Public Servant and an MTN subscriber said the network had been so bad that she could not even make a single call for the past two days.
“I needed to get a message across to my son since yesterday but I have tried all I could to call to no avail and the worst of it is that I cannot also send text message.
“I do not know what is happening but the network provider should have noticed a disruption and do something about it, this is not right at all, I feel lost.
“The regulatory bodies should do something about the disruptions that occur with the network delivery services and sensitise users first; in the climes where all things are done orderly subscribers are informed.”
Mrs Deborah Adeyemi, a journalist said her MTN network was working perfectly on Wednesday but had since disappeared since the beginning of Thursday.
Adeyemi, who also uses GLO network, expressed worry that the network had been malfunctioning for the past three days – appearing and disappearing.
“I cannot imagine the kind of network providers we have in this country. I cannot really say what is happening these networks.
“It is so crazy when you have data and you cannot connect to know what is happening around the world.
“As a journalist, I need the network to be able to do my job but for the past three days I cannot access my mail; this is so disheartening.”
However, a 9mobile subscriber, Mr. Joseph Udoh said that his network had been functioning well, adding that there had not been any hitch in his mobile service.
“I have been making and receiving calls without and hitches and was surprised to hear others complaining about the poor services from other networks.”
He however called on the network providers to do something fast to resolve the issues to enable citizens enjoy the services they paid for.
Meanwhile, in Lagos and other part of the country the situation was not different as subscribers continue to groan in pain over their inability to make of their internet nor make calls with the network.
Mr. Osaze Eromosele who reside in Lagos complain of his inability to make use of his GLO internet after subscribing. “I paid for my subscription over two days now and I have not been able to make use of it due to bad network. This has been happening for over 3 month now and every time you call their customer care to complain, they say we are working on it but the situation persist. I wouldn’t even advice anybody to buy GLO right now,” he said.
When contacted by, an official of MTN, who requested not to be mentioned said it was a “Down Time” problem, which was currently being addressed by the network provider’s engineers.
“By the end of the day (Thursday), the issue will be addressed. We apologise to our customers,” he said.
A Glo official, who also requested anonymity said that the poor network issue could be as a result of site maintenance which is being addressed.
But can both network company really make their subscriber happy. Time will tell!

…Lagos CP vows to go after vandalisers, dealers

Operatives of Rapid Response Squad (RRS) of the Lagos State Police Command have arrested a cable thief syndicate who specialise in vandalising government and private company’s cable in different parts of the metropolis.
The officers also recovered 168 meter long cable which the suspects stole at the same point in the previous weeks as well as two sledge hammers and a green Volkswagen wagon Passat with the registration number LSR 664 CW.
The six suspects were arrested on Friday when men of the Decoy Team of Rapid Response Squad acting on a tip off ambushed the suspects on Third Mainland Bridge, Lagos where they were billed to operate around midnight.
The syndicate, in the absence of its ring leader, identified as Kingsley, an ex-convict, was led by a 29 year old Henry Akpan, a security guard manning the cable.
According to Akpan, he was invited to join the syndicate by Kingsley after returning from the prison.
“I am the one that arrested Kingsley and handed him over to the police, which led to his conviction and imprisonment. When he came back from Kirikiri Prison, he came to see me. He told me that can he come back and work in the place?
“By this time, the company I was working for had disengaged me. Out of the four years I worked for them, they only paid me for four months. Eventually, they said thieves were still stealing cable and because of this, they laid me off.”
He went further, “I colluded with him. I offered to provide him with security while he breaks into the tunnel of the Third Mainland Bridge median to cut the cables.
“We normally operate late in the night. I do the surveillance while he cut the cable and roll it out. Once the deed is done, and he is out. I collect my money and walk away from the scene.
“For the first operation, Kingsley paid me N40,000. For the second, I got N15,000. The third, N20,000 and so on. I don’t know the length of cables involved in every operation’, he added.
While Kingsley is on the run, other members of the syndicate arrested include: Sunday Joseph, Obinna Nnabuenyi, Henry Owuama, John Chinedu and Francis Fidelis.
Also arrested were Sunday Francis and Simeon Ezeh, two regular buyers of the stolen cable, while 168 meter long cable stolen in the previous week before the arrest were recovered from the duo.
According to Simeon Eze, a 57 year old cable dealer in Alaba International from whom 30 and 40 metre long cable were recovered, “I bought the two separate cable a week and previous week ago from the syndicate at the rate of N50,000 and N60,000 respectively. The cable is 25mm aluminum and I bought them at N700 per yard from them.
Meanwhile, the State’s Commissioner of Police, Mr. Imohimi Edgal has directed all those involved in cable theft around the state be arrested and the case transferred immediately for thorough investigation and prosecution just as he vowed to go all out to arrests vandals and dealers still involved in the act.
The suspects along with exhibits recovered from them have been transferred to the SCID for further investigation and arrests.

THISDAY Newspaper columnist, Lanre Alfred, recently released a new book titled ‘The Titans: Amazing Exploits of Nigeria’s Greatest Achievers.’
The book which is the fifth of Alfred’s publishing endeavours, chronicles the exploits and attainments of Nigeria’s finest brains and leaders in different fields of endeavor.
The Lagos State Commissioner for Information, Steve Ayorinde, graced the public presentation of the book in Lagos, on behalf of the state government, a major supporter of the author’s factual initiative. Ayorinde commended the writer’s depth and the painstaking research that heralded the factual and inspiring narrative. Other dignitaries at the presentation enthused about the finesse and brilliant craft of the author.
The book, stressed Alfred, details the matchless and valuable contributions to the socio-economic development of Nigeria by individuals who have turned an idea into an industry and attained in the process, remarkable prosperity and renown.
“It is about the wunderkinds from the slums of Ajegunle, Bariga and Surulere, Agege, Amokoko, Ijora, among other places that have parlayed their creativity into a flourishing enterprise and are not only financially liberated but are accorded global respect,” he said.
The literature is dedicated to Capt. Idahosa Okunbo for profound reasons: chief among them is the rarity of his persona, according to the author. Alfred stressed that the Chairman of Ocean Marine Solutions flaunts the same fundamental psychology as the artist, inventor, or statesman.
He has set himself at a certain work and the work absorbs and becomes him. It is the expression of his personality; he lives in its growth and perfection according to his plans.
According to him, Capt. Okunbo became worthy of the honour by account of his sterling industry, humanity and unpretentious modesty manifests positively on all of his acquaintances, the author inclusive. Capt. Okunbo is a patriot whose commitment to national and economic stability are beyond doubt. He is currently one of the very few economic giants and magnates enjoying the respect of the Nigerian government due to his infectious modesty and enviable business culture in the oil and gas sector. He would be 60 in January.
At 60, Capt. Okunbo has conquered Air, Sea and Land. There is no gainsaying that he has conquered the air as a pilot; the sea as an oil and gas player with over 60 vessels; and now, land as he recently unveiled an agricultural project worth a staggering $750 million with an initial $300 million take-off capital.
Alfred’s new book is widely commended as a product of meticulous research spanning the last decade.
“The book mirrors the outstanding resilience and perseverance of outstanding Nigerians in their ambitious dash for honour and progress and in the face of daunting political and socio-economic odds, he said.
Some of the chapters in the book include: ‘The Forbears, Their Imperial Majesties, Like Burnished Stones, Thrill Merchants, Gods of Industry among others.
“Essentially, I have documented in pristine prose and pictures, the inspiring exploits and attainments of Nigeria’s finest breed of magnates, politicians, scientists, academics, technocrats and entertainers who are transforming the world and inspiring others to do likewise,” said Alfred.
Thus, as he recalls his subjects’ storied trajectory and records it for posterity and historians, Alfred projects his book as an inspirational mini-biography of the exploits of Nigeria’s finest.
In commemoration of Lagos’ golden jubilee, Alfred noted that, “A section of the book has been devoted to the contributions and achievements of some Lagosians whose industry and initiatives have contributed to making Lagos the fifth largest economy in Africa and a primus inter pares in Nigeria. Their contributions to the growth of Lagos would be put into proper historical perspectives for the benefit of posterity and researchers.”
With a Foreword written by Encomium Magazine publisher, Kunle Bakare, the coffee table book has hit bookshelves across the country. According to Kunle Bakare, “This assemblage of profiles of our most colourful characters not only signposts our past but defines our future. The heart-warming narratives of those who toiled and laboured and sacrificed, who risked lives and limbs to ensure our today and tomorrow are far better than our yesterday are masterfully catalogued.
This documentation of giants who struggled to make life more meaningful, worthwhile and enjoyable for posterity positions Alfred as a chronicler to applaud for his audacious compilation.
Painstaking and methodical with a good grasp of an engaging lexicon of the flowery kind, he tells the stories of the giants who provide shoulders to perch on so that we can see far convincingly.
For a young man with a punishing schedule and deadlines to beat every week, Alfred’s effort brings to fore what seriousness can accomplish. What determination and diligence bring to bear. And l have never doubted his passion for writing, for beautiful and lyrical prose”.
Alfred, is the publisher of the popular coffee table book, ‘Highlife – Amazing Lifestyles of Nigeria’s Rich and Famous’ and biographies including ‘Pacemaker – Triumphs of Igho Sanomi at 40’, ‘The Lion of Afia Nsit – Triumphs of Scott Tommey at 45’; and ‘Julius Rone…The Jewel of the Delta’.

…Urges companies to install CCTV cameras in premises

Lagos State Governor, Mr. Akinwunmi Ambode on Wednesday said his administration will leave no stone unturned and continue to deploy more technologically advanced techniques and equipment to ensure that the safety of lives and property of 22 million residents in the State is secured.
Governor Ambode, who spoke at the 11th edition of the Town Hall Meeting on Security, organised by the Lagos State Security Trust Fund (LSSTF) and held at the Banquet Hall, Lagos House in Ikeja in Alausa, said policing the State requires all and sundry to join hands with Government to ensure that the peace being enjoyed in the State is not compromised.
Alluding to the fact that criminal elements despite efforts by the Government have continue to perpetrate their nefarious activities but that his administration is prepared to do whatever it takes to make it exceedingly difficult for these criminals to succeed in their evil plots and in the event that they do, they are apprehended and brought to justice.
He therefore said that Government was investing heavily in technology equipment and strategies to aid security agencies carry out their primary function of policing the State efficiently.
“Technology can reach where man cannot. This is why your State has invested in mobile CCTV vans with control units, provision of drones, robotic bomb disposal equipment, tracker, bomb detectors, mobile scanners etc. The State has also commenced the installation of CCTV cameras and is in talks for the purchase of surveillance aircraft that carry special cameras with 3D imagery, infrared and thermal imagery which can effectively gather intelligence in all parts of the State and would assist significantly in dealing with the menace of kidnapping,” Governor Ambode said.
The Governor, however, seized the occasion to urge owners of businesses and organisations to install CCTV cameras in their premises to help expand the reach of law enforcement agents in the event of any security breach.
“We still need your continued support in providing equipment and logistics for the police and other security agencies through your contributions to the Lagos State Security Trust Fund.
“Be assured that the Lagos State Government is committed to rid our society of those that opt for crime. Our continued provision of equipment and logistics for the security agencies operating in Lagos is evident to this. Our government will also continue to provide state of the art infrastructure in order to achieve our vision of making Lagos a safe, prosperous and smart mega city,” he said.
Speaking on the plan by the Federal Government to demolish Jibowu and Costain bridges in Lagos, Governor Ambode said the development is necessary to give way for the new rail project which according to him, will be beneficial to the economy of the State and Nigeria as well.
“The Jibowu and Costain bridges will give way for the laying of tracks of a Lagos-Ibadan rail project. The demolition would give room for a track that would stretch from the old Fela Shrine to WAEC end and the track will be constructed in such a way that no vehicle can cross it,” Governor Ambode said.
Earlier, the Commissioner of Police in the State, Mr Edgal Imohimi, said the introduction of community policing and the increase in police visibility had resulted in 35 per cent decline in crime in the State.
Imohimi, however, said that despite massive contributions by the State Security Trust Fund, dearth of patrol vehicles remained a challenge.
“Many vehicles attached to the divisions have become rickety and unserviceable due to old age and over usage,” he said.
Imohimi, however, said the command would not relent in its efforts to consolidate on the achievements recorded so far, but would appreciate if additional critical fighting equipment were provided saying that it would help to improve on the successes so far recorded in the command’s fight against crime and criminality.
Also speaking, Secretary of the LSSTF, Mr. Abdulrazaq Balogun, said there was need for organisations to engage in consistent and sustainable security model, expressing optimism that it will go a long way to enhance strategic planning for improved security in the State.

The Federal High Court in Lagos South West Nigeria has granted leave to a Nigerian company Nadabo to serve court process on a British company Trafigura Beheer B V out of jurisdiction and five Nigerian companies alleged to have laundered N24 billion.

In a bid to recover N24billion alleged to have been laundered by a British company, Trafigura Beeher BV, a limited liability company in Nigeria, Nadabo Energy Limited has dragged the said London-based company before a Federal high Court in Lagos.

Joined as co-defendants in the ensuing legal battle to secure court order to detain about a million barrels of oil belonging to the company are five Nigerian companies; Mettle Energy & Gas Limited, Renbrant Limited, Jill Engineering and Oil Services Limited, Q&Q Control Services Nigeria Limited and General Marine & Oil Services Limited.

In his argument before the court, the plaintiff’s lawyer, Chief Emefo Etudo told the court that all the parties have been served, therefore there is the need for the court to order all the parties to maintain status quo and an order of the court ordering the foreign parties to be served.

In his ruling, the presiding judge, Justice Rilwan Aikawa while adjoining till Friday for further hearing ordered all court process to be served on the defendants while status quo be maintained.

In an affidavit sworn to by the Executive Director of Nadabo Energy company, Mr Reuben Etila, and filed before the court by a Lagos lawyer, Adeola Ojo, the deponent averred that, Nadabo Energy company obtained $16million loan from Spring bank Plc to import petroleum products for onward supply to Mobil.

However Trafigura Beheer BV colluded with some officials of Spring bank Plc to steal substantial part of the money and the supply cargo now valued at N24 billion by the Nadabo company.

The money was received by letters of credit and converted same to multiple businesses, shipping and crude oil lifting of 950,000 barrels of crude oil.

Nadabo claims that Trafigura is attempting to load the supply this month at Exxonmobil/Esso Terminal ERHA.

Mr Etila also averred that this fraud that killed Spring bank Plc was just discovered this year and the President and commander in Chief of the Federal Republic of Nigeria has just been petitioned for swift action, therefore it is necessary not to allow Trafigura Beheer BV to take all her properties (crude oil) out of the jurisdiction so that any judgement given by the court will not been in vain.

Spring bank Plc was alleged to have died as a result of fraud and bad debt.

As a result of this fraud, Nadabo Energy Limited was blacklisted from securing further loans from any Nigerian bank until it pays the money back.

Heritage Bank acquired Enterprise bank Limited that acquired Spring bank Plc.

Heritage bank Plc has now dragged Nadabo Energy to court in a bid to recover their loan.

Mr Etila alleged further that the stolen assets of the company had been converted into ships and crude oil by Trafigura Beheer BV and other colluding parties.

Etila in this legal action is claiming title to the said laundered assets as notice of discovery was also given to the respondents this year.

The company which is a foreign company upon receipt of the said notice decided to quickly move her known assets that is within the jurisdiction of this court out of the jurisdiction and to Europe.

The Nadabo company has filed an undertaking as to damages with the Deputy Chief Registrar of the court and therein depose that it will indemnify the defendants or whosoever of any damage that may be caused by making of order of injunction if it turned out that the order ought not to have been made.

Trafigura Beheer BV provides resell and marketing of crude oil and natural gas. The Company serves customers worldwide.

The Bank of Industry (BOI) and the Unity Bank Plc on Tuesday were at the FCT Court, over non-performance of N150 million loan granted to Valentino Project Ltd. by BOI.

Valentino Project Ltd. had in 2012 secured a loan of N150 million for the construction of water treatment factory and production in Kuje, FCT, while Unity Bank acted as its guarantor.

Toluwaseun Alabi, the Counsel to the plaintiff, Valentino, said that Unity Bank acted as the guarantor for Valentine Project Ltd. to secure the loan.

Mr. Alabi said that a loan of N150 million was given to Valentino to set up a water treatment factory and production line in Kuje, adding that “it did just that, while Unity bank acted as the guarantor to Valentino.’’

He said that in August 2013, Valentino received a communication from BOI that the transaction had been terminated.

He however argued that since the loan was for five years and still operational; it would amount to a breach of agreement if it was terminated.

“Valentino Project Ltd. has built the water treatment factory and production in Kuje and bought the needed equipment, in fact everything is on ground,” he said.

Mr. Alabi said that Valentino had refused to commence work because of the problem it had encountered, adding that the project was stalled because the N150 million had not been fully disbursed.

“It was just remaining about N5 million to complete the loan and finish the project because the company has built the factory and set up everything.

“But because the Relationship Manager of Unity Bank and the people handling the facilities on behalf of BOI and Valentino Project Ltd. were not having the best of times, it just cut off as guarantor without recourse to the investment.’’

He said that there was a project appraisal before the BOI gave out the loan, adding that based on Valentino’s performance, the loan was given to the company.

Peter Inegi, Counsel to the defendant, Unity Bank said that before the loan facilities was given out to Valentino, there were conditions and some obligations attached to it.

He said that Valentino was supposed to perform based on those conditions and obligations, adding that 100 per cent performance was expected before any intervention.

“Unity Bank acted as Valentino Project Ltd. guarantor for N150 million to BOI, but BOI had to act by withdrawing from Valentino Project Ltd. for non-performance of obligations.’’

Justice Peter Affen of the FCT High Court, Maitama, however, reserved judgment until a date to be communicated to both parties.

There is a common saying most successful organizations are built on the foundation of visionary leadership. It must however be emphasized that leadership is not a title or position, rather it is exerting influence and not control over a certain group of people to achieve a defined and sustainable goal. The dangers of recognizing leadership as a position is that it breeds individuals who wield power in an oppressive and abusive manner so much so that it eventually spirals out of control. More often than not, the result reneges on all that the principles firm and inspired leadership upholds. Incidences of brazen disregard for set out laws, total negligence for the true well-being of others and an insensitivity to the local and global community. This is the reality that exists within the ranks of the Petroleum and Natural Gas Senior Staff association of Nigeria (PENGASSAN) under the leadership of Comrade Francis Olabode Johnson. Comrade Francis has found his holy grail and is clinging on in an unholy embrace till seemingly death do them part.

As the festive period draws near, Nigerians cringe in expectation of what has become a yearly routine. The customary threat to embark on a strike action by PENGASSAN looms large in what is now recognized as an arm twisting gimmick to facilitate personal enrichment and reassertion of a position of authority by the trade union leader in a bid to ensure he clings on to the power from which he derives his essence of living. Under the leadership of Francis Olabode Johnson and his deputy Frank Esanubi, PENGASSAN has reached new depths in its plunge towards oblivion. Tales of gross mismanagement of funds pervade the air within the union while like a mother vessel who has arrived her final destination, corruption and gross mismanagement of funds has dropped its anchor at PENGASSAN. Financial accountability has become a ghost story in a grand scheme of financial recklessness and misappropriation of funds by Comrade Frank Olabode Johnson and his loyalists.

It is shocking to find out that PENGASSAN which is funded solely by dues from its members is neck deep in debts to banks and other financial institutions. What is more bewildering is that under the current economic clime where even profit making concerns are tightening up their belts, the leadership of the union has embarked on a spending spree. Over a period of six months, there have been three synergy workshops that have set the union back by a considerable amount in tens of millions. A training symposium in Ghana cost N18million, when air tickets for attendants and other expenditure elements are captured, you are faced with a bill etching closer to N30million than away from it. Another training has been scheduled for Dubai in another white elephant project that will put a sizable hole in the association’s pockets. What drives the nail into the heart deeper is the fact that some delegates to these training are not even PENGASSAN members. Also fresh from the grapevine is information of an adventure at the Le Meridan Hotel Uyo where the “meagre” sum of N20million departed the coffers of the Union as payment for a sightseeing excursion to explore the joys of Uyo and revel in its delights by Comrade Francis Olabode Johnson and his loyalists.

Prevailing times have affected a reasonable number of the association’s members as they have found themselves on the wrong end of job cuts necessitated by an economic downturn. In seeming disregard to the plight of its members, no initiatives have been implemented to ease the sufferings of these people and provide succor. Rather, funds have been used to cater for countless jamborees. The total amount expended on training of a select few in exotic locations this year by the leadership of PENGASSAN will comfortably train all PENGASSAN branch chairmen and secretaries within the country with a lot to spare but alas the foreign trips have ensured lots of functional members have been disenfranchised as only loyalists to the charade led by Comrade Francis Olabode Johnson are beneficiaries of his “all inclusive’’ reign as president of PENGASSAN.

While there is a clear difference between enlightenment and education, there is a clear case of the lack of both where Comrade FOJ as he is popularly called is concerned. A ruthless trade union leader who hasn’t officially garnered any other academic qualification save for the WASSCE O levels with which he retired from NNPC service in 2016 as a clerk. His Deputy Comrade Frank Esanubi has also fared no better as promises he made during his campaign for election have disappeared mysteriously like ashes thrown into a flowing river.

In what is also perceived as an anomaly, the embattled trade union leader currently seats on the board of two respective trade unions. He is currently the President of PENGASAN and is also the 3rd deputy president of the Trade union Congress (TUC). Surely this should represent an anomaly even to the reasoning of the lay man.

Very soon, a Daniel will surely come to judgment and the souls of the oppressed will sing a joyful song as they ready their spirits for a true leader who will inspire them and not conspire to send them to early graves.

Ibrahim, is a social crusader, political observer and media practitioner

…We’ll transform edifice to national monument, says Ambode
…Thanks Buhari, Osinbajo, Fashola, others

The Federal Government on Tuesday completed the final handing over of the Presidential Lodge, Marina to the Lagos State Government about twenty years after the journey to actualize it commenced.
Speaking at the brief but impressive handing over ceremony, held at the Conference Room of Federal Ministry of Works, Power and Housing in Abuja, Lagos State Governor, Mr. Akinwunmi Ambode said the development was a testament of the commitment of President Muhammadu Buhari to bring positive change to Lagos.
Governor Ambode particularly commended the President, Vice President, Professor Yemi Osinbajo; Minister of Works, Power and Housing, Mr Babatunde Fashola and staff of the Ministry; Permanent Secretary in the Office of Chief of Staff to the President, and other stakeholders who worked to ensure the final transfer of the asset to Lagos.
The Governor said: “We are strongly delighted to be here on this historic day; on a day that actually finalises the intention of Mr President to bring positive change to Lagos.
“We want to sincerely appreciate President Muhammadu Buhari who has graciously approved that the Presidential Lodge be released to Lagos State and for the use of Lagos State which, just has said by the Minister, we have been trying to get for the last twenty years.
“We are pleased that on a day like this, it is my predecessor and present Minister of Works who is now doing the final handing over of which he had also been part of that process to get this asset back to Lagos but in God’s own doing, the Minister is in the position today to do the final documentation and we are very grateful for that.”
While alluding to the fact that the development was a sign of greater collaboration between Federal Government and Lagos State, Governor Ambode expressed optimism that it would be the beginning of process to get such assets back to the State Government.

Besides, the Governor said his administration would put the edifice to good use and transform it into a national monument to boost tourism and grow the economy of Lagos and Nigeria.

“This is a sign of greater things and greater collaboration between the Federal Government and Lagos State. We believe strongly that this singular gesture is part of what will improve the economy of Lagos because our intention is to turn that particular asset into a national monument where we can christen it a National Heritage Centre for Leadership and we will use it also as a tourist centre to bring Nigerians and foreigners to come to Nigeria and as well use that as a means of improving on the economy of Lagos State and Nigeria.
“On a final note, I want to show my sincere appreciation to the Minister and hope that this particular event will bring more good stories as we continue to see how much we can strive to get some of these assets back to Lagos State,” Governor Ambode said.
Earlier, Fashola congratulated Governor Ambode and the people of Lagos State for the N1.04trillion budget estimate presented to the State House of Assembly on Monday by the Governor, and expressed hope that it would improve quality service delivery to the people of the State.
He said the signing of the document which formally vest ownership of the Presidential Lodge, Marina in the State Government was in fulfillment of the promise made by President Buhari, saying it was gratifying that the long journey spanning about two decades had finally come to an end.
He said: “This is a long journey that has come to an end; a journey that has taken almost two decades when the Lagos State Government asked that the property be vested in Lagos but for reasons that remained difficult to understand it did not happen but the President of change who is a promise keeper has made it happen.”
Aside Governor Ambode, other Lagos State officials at the ceremony included the Secretary to the State Government, Mr Tunji Bello; Commissioner for Information and Strategy, Mr. Steve Ayorinde and Commissioner for Waterfront Infrastructure Development, Engr Adebowale Akinsanya.

Musical raves, Small Doctor and Simisola popularly known as Simi, have vowed to thrill fans when they perform live at GOtv Boxing Night 13, holding on 26 December at Landmark Centre, Victoria Island, Lagos.

Falz The Bahd Guy and Reekado Banks will join the two artistes on the stage at the event. Speaking in Lagos, Simi said: “I will be performing live at GOtv Boxing Night 13 with my band, The Banjos. I can hardly contain my excitement because I know it will be incredible. I am looking forward to having the time of my life.”

On his part, Small Doctor said he will put in a performance that fans will never forget.

“It will be WOW! I promise to thrill fans and give them an experience they will always remember. I am calling on every fan of mine to come to the show to have plenty of fun,” he said.

Tickets for the event are available online at ariiyatickets.com, SLOT and Ebeano Supermarket outlets as well as the National Stadium, Surulere, Lagos. Free bus rides are also available to take ticket-holding fans to the venue and bring them back at the end of the show.

The Managing Director of Access Bank Plc, Mr. Herbert Wigwe, and top management staff of the bank, Mrs. Neka Adogu were on Thursday arraigned before an Abuja High Court by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) for offences deemed as corruption by the ICPC

The Senior Legal Officer, Independent Corrupt Practices and other related Offence Commission, (ICPC), Osuobeni Ekpiwhre Akponimisingh arraigned the bankers on behalf of the Attorney General of the Federation, with charge number CR/032/17 over their refusal to obey lawful invitation by the Commission on the refusal of the bank to release the Post No Debit order on all the accounts of two firms, Blaid Construction Limited and Braid Properties Limited.

The charge sheet shows that the Bank’s Managing Director and CEO, Mr. Herbert Wigwe, Access Bank Plc and Mrs. Neka Adogu, a senior staff of the bank who are the defendants were arraigned on a four-count charge.

Count 1
“That you, Herbert Wigwe (Mr) MD/CEO of Access Bank, sometimes in the month of November 2017 or thereabout within the jurisdiction of this honourable court willfully refused to honor a lawful invitation by the ICPC in respect of refusal to release the Post Debit order on all the accounts of Blaid Construction Limited and Blaid Properties Limited respectively, upon receipt of an order directing you and your bank (Access Bank plc) to do so, you thereby committed an offender contrary to and punishable under Section 28 (10) of the Corrupt Practices and Other Related Offences Act 2000.”

Count 2
“That you Neka Adogu, (Mrs), a staff of Access Bank, sometimes in the month of November 2017 or thereabout within the jurisdiction of this honourable court willfully refused to honor a lawful invitation by the ICPC in respect of refusal to release the Post Debit order on all the accounts of Blaid Construction Limited and Blaid Properties Limited respectively, upon receipt of an order directing you and your bank (Access Bank plc) to do so, you thereby committed an offender contrary to and punishable under Section 28 (10) of the Corrupt Practices and Other Related Offences Act 2000.”

Count 3
“That you Herbert Wigwe (Mr) MD/Chief Executive Officer of Access Bank, Mrs. Neka Adogu, a staff of Access Bank, and Access Bank Plc, sometimes in the month of November 2017 or thereabout within the jurisdiction of this honourable court conspired to frustrate investigation activities of the commission (ICPC) by willfully refused to obey a lawful order dated November 6, 2017, instructing you and your bank (Access Bank Plc) to release the Post Debit order on all the accounts of Blaid Construction Limited and Blaid Properties Limited respectively, and you thereby committed an offender contrary to Section 26 (c) and punishable under Section 15 (c) of the Corrupt Practices and Other Related Offences Act 2000.”

Count 4
“That you Herbert Wigwe (Mr.) Managing Director and Chief Executive Officer of Access Bank Plc and Access Bank Plc, sometimes in the month of November 2017 or thereabout within the jurisdiction of this honourable court conspired to willfully refused to obey a lawful order dated November 06, 2017, but delivered/recieved on November 07, 2017, instructing you and your bank (Access Bank Plc) to release the Post Debit order on all the accounts of Blaid Construction Limited and Blaid Properties Limited respectively, and you thereby committed an offender contrary to Section 26 (c) and punishable under Section 28 (10) of the Corrupt Practices and Other Related Offences Act 2000.”

Three Operation Managers of First City Monument Bank, FCMB attached to the Macarthy, Onikan, Lagos Island branch have been drag before a Lagos Magistrate Court for allegedly withdrawing the sum of N48,635,840 from the account of the bank.

The accused persons are: Omotayo Oluseyi, 38, Ebenezer Efunsola, 50 and Uchenna Ugwuibe, 45.

The accused persons were arrested by the Police at the Lion Building Division, Lagos Island and arraigned before an Igbosere Magistrate Court on a two-count charge of felony to wit, stealing.

Police Prosecutor, Oluwafemi Adeleye informed the court in charge No D/91/2017 that the accused persons committed the offence between January 2016 and May 2017 at First City Monument Bank located on Macarthy Street, Onikan, Lagos Island during working hours.

Adeleye told the court that the accused persons betrayed the trust reposed in them by their employer as Operation Managers and as Head of Department at the Macarthy branch of the bank by allegedly conniving to steal the sum of N48,635,840 from their employer’s account.

He said the management of FCMB uncovered the fraud when they audited their account books.

Adeleye said that the offences the accused committed were punishable under sections 411 and 287 (7) of the criminal Laws of Lagos State, 2015.

The accused persons, however, pleaded not guilty to the alleged crime in the open court and their counsels, Loveline Ezemegbu and Helen Ibeji prayed the court to grant the defendants bail in the most liberal terms, promising that they would not jump bail if granted.

Chief Magistrate B.A Sonuga granted the defendants bail in the sum of N5 million each with two sureties each in like sum who must be bank staff.

Sonuga also directed that the sureties must deposit the sum of N1 million each in the Chief Court Registrar’s account and their International passport with the court.

The magistrate adjourned the case till 13 January, 2018 and ordered that the defendants be kept at the Ikoyi Prison till they were able to fulfill the bail conditions.

A member of the PDP Board of Trustees, Chief Bode George, has announced his withdrawal from the Peoples Democratic Party (PDP) Chairmanship seat.

George made this announcement at an ongoing conference in Abuja.

Chief George was one of the nine candidates cleared for the contest at the national convention of the party set to hold in Abuja tomorrow.

The party had on Friday cleared all the nine national chairmanship aspirants and certified them fit, ahead of Saturday’s national elective convention.

Chairman of the committee and former Governorship candidate of the party in Edo State, Osagie Ize-Iyamu, presented certificates of clearance to all aspirants at the party’s National Secretariat in Abuja.

Other aspirants for Saturday’s convention include, Prince Uche Secondus, Chief Gbenga Daniel, Mr Jimi Agbaje, Senator Rashidi Ladoja, Prof. Taoheed Adedoja, Prof Tunde Adeniran, Dr. Raymond Dokpesi and Mr. Aderemi Olusegun.

Speaking while handing the aspirants their certificates, Ize-Iyamu said the list of other aspirants cleared for other offices would be displayed at the party’s secretariat.

Meanwhile, Chief Olabode George, had eelier promise to unite all rival groups within the party across the country and enthrone peace and harmony if elected.

He made the promise while addressing Ogun State delegates for the national convention of the party and other stakeholders at the Park-Inn Hotel, Abeokuta, Ogun State recently.

He said he would bring all groups together and ensure that all litigations involving the party were amicably resolved as the PDP could not afford to waste the little time between the convention and the 2019 elections on unnecessary infighting and distractions.

He noted that the PDP lost Ogun State to the All Progressives Congress years ago because of disunity, adding that the time had come for all to come together and take the state back.

George had also made the same promise in Ekiti, Ondo, Osun and Oyo states which he visited.

He assured the party stakeholders that unity was a top priority in his agenda for the party because it was a necessary ingredient for a strong and formidable platform to win elections.

With the latest development, political watchers are watching with keen interest to see who emerge as the new PDP chairman.