₦airaland Forum

President Muhammadu Buhari has said he would only return to Nigeria when his London doctors certify him well enough to do so.
“… I am extending my leave until the doctors are satisfied that certain factors are ruled out,” Mr. Buhari said in a February 5 letter to the President of the Senate, Bukola Saraki, informing the National Assembly of the extension of his vacation.
The letter was exclusively obtained by PREMIUM TIMES on Saturday.
Although snippets of the letter were publicised by the presidency and the Senate on February 5 and 6 respectively, this is the first time the entire text and copy of the correspondence would be made available.
The President wrote, “Further to my letter dated 18th January 2017 in which I notified the Distinguished Senate of taking part of my annual leave.
“During my leave, I took the opportunity to have routine check-ups and consult my long standing doctors in London.
“In the course of the routine examinations, certain test result indicated the need for a course of medications and further appointments have been scheduled for next week.
“I am therefore notifying the Distinguished Senate that I am extending my leave until the doctors are satisfied that certain factors are ruled out. In the circumstances, the vice president will continue to act on my behalf.
“Please accept, Distinguished Senate President, the assurances of my highest consideration.”
Mr. Buhari had on January 18 written the National Assembly, notifying the legislature that he was proceeding on a 10-day leave and temporarily transferring presidential power to Vice-president Yemi Osinbajo.
The leave was supposed to last 10 work days, between January 23 and February 6, according to the letter transmitted to both chambers of the National Assembly.
The President, whose real medical condition remained unknown, was expected to arrive the country on February 5 for resumption of work on February 6.
But the extension of his vacation means Mr. Osinbajo will continue to exercise presidential powers for days or weeks to come.
This is the third time Mr. Buhari has transferred power to Mr. Osinbajo since the two leaders were inaugurated in May 2015.
The first time was on February 5, 2016 when the President embarked on a five-day vacation; and the second was in June 2016 when Mr. Buhari travelled to the United Kingdom for treatment of what the Presidency described as ear infection.
A formal notice to both chambers of the National Assembly on the president’s intention to proceed on leave and hand over power temporarily to the vice-president is in compliance with Section 145 (1) of the Nigerian Constitution.

If information reaching us is anything to believe, then, these are not the best of times for Mr. Phillip Ikeazor, the managing director/chief executive officer of Keystone Bank Limited over an alleged N4.2 billion illegal transaction as some aggrieved shareholders of the bank have expressed dissatisfaction with the poor performance of the bank’s chief and are therefore calling for his resignation.
We learnt, the Economic and Financial Crimes Commission, EFCC, has raised a team to interrogate the managing director/chief executive officer of alongside two other directors of the bank.
The two other directors under investigation by the agency, a source at the anti-graft agency said, are the executive director, corporate bank and treasury, Mr. Hafiz Bakare and executive director, North directorate, Dr. Shehu Muhammad.
According to the source, the call for the investigation came on the heels of the House of Representatives Public Accounts Committee (PAC) submission urging the anti-graft agency to beam its searchlight on the lender over its illegal movement of N4.2 billion from the Industrial Trust Fund’s account domiciled with the bank.
The committee said circumstances that led to the transfer of the fund without due permission from ITF should be investigated to ascertain the rationale behind such action.
Citing the auditor-general’s report, deputy chairman of the committee, Rep Ibrahim Baba (APC, Bauchi), who presided over the panel’s session on the matter said Keystone Bank moved money thrice from ITF’s account domiciled in the bank in November 2010.
He said on discovering the irregular transaction during one of its audit visits, the auditor-general’s team raised a query on the matter, saying an interest of N23.5 million was supposed to be paid by the bank.
But ITF’s director general, Joseph Ari, in his response said the transaction was carried out without the agency’s authorization and that the bank had explained that it was done in error.
He read a letter from Keystone Bank in which the bank said it had reversed the transaction but that no interest was paid to ITF.
He said as part of efforts to get the transaction rectified and the accrued interest paid, ITF reported the matter to the Central Bank of Nigeria (CBN) and that the apex bank advised an amicable settlement.
He said, however, that despite meeting with the officials of the bank on the matter, no solution could be found. Thus, the committee called on the EFCC to come into the matter with a view to investigating the transaction.
Meanwhile, one of the shareholders who spoke to our correspondent said that until the appointment of Ikeazor, the bank was doing well.
“Phillip Ikeazor does not have the ability to drive the bank. Since he assumed office in 2013, the bank has been struggling for survival; the fortune of the bank has continued to dwindle.”
“Recalled earlier last year, Mr. Ikeazor disclosed plans to sell the bank’s subsidiaries in three West African nations of Liberia, Sierra Leone and Uganda due to insufficient funds to operate an international license or recapitalize them.” Why won’t it get to that point when he cannot present the bank viable for business?”
“This is an institution that buyers were jostling for as at 2012 but today, reverse is the case.
“He should honourably resign his position for a more competent hand,” the source noted.
Our findings on some of the bank branches showed that they were struggling from low patronage and it has closed down some of them in Lagos. The bank had shut down its Oko-Oba Branch and Ojodu Branch in Lagos.
Efforts to speak with Mrs. Omobolanle Osotule, Head of brands and corporate communications of the bank proved futile as her mobile line was not reachable as at press time.
Keystone Bank is one of the three commercial banks that were acquired by the Asset Management Corporation of Nigeria (AMCON) through a ‘bridging’ process. The bank was established from the carcass of the defunct Bank PHB in August 2011.

Precisely two years ago, the news broke on how a foreign guest at the Lagos Intercontinental Hotel was involved in a robbery incident that left the hotel culpable of the unfortunate incident. Few weeks after the incident, it was learnt that the hotel got in touch with the guest, Michael Strano with a promise to work out appropriate compensation. Relying on their words, all actions to proceed with litigation were dropped and the hotel has refused to enter into dialogue with Strano any longer. As usual, it would be regarded as one of those things that will fizzle out.
Last week when we got in contact with Strano in Nairobi, he confirmed that the hotel has since ceased communication with him. Therefore, a new round of legal matter may soon begin, he hinted.

Below are the excerpts of the story as was reported then:
A storm of controversy is blowing at the Lagos Intercontinental Hotel and the management seems not perturbed of the development. The story of how a guest of the five-star hotel was robbed sound more like a tale by moonlight, but behold, the story exposes lack of due diligence on the value chain of the Intercontinental hotel located in Victoria Island, Lagos.
This magazine was told of how a guest, Michael Strano, an Australian lodged at the hotel for three days and got a bitter dose of ‘dishospitality’ on his last day of departure. As the story was narrated, Michael had called the hotel’s reception on his last day for management to get him a cab to drop him off at the Murtala Mohammed International Airport.

Truly, the hotel did not disappoint as they readily have pool of cabs for their guests. On this fateful, the cab taking Michael had hardly got to the Mainland when the driver complained of bad engine. He therefore suggested to get another cab from the hotel to continue and complete with the journey to the airport.
Similarly, somewhere around Ojuelegba area of Lagos, the second driver claimed a similar engine malfunctioning, thereby forcing the driver to veer off the express road and seek solution to the problem.
It was at that point that about four men allegedly pounced on the occupant with dangerous weapons, where his belongings were carted away. They include laptops, phones, cash, documents and passport and other items.
The incident left Michael stranded and neither could he make calls to his business associates nor contact the Australian embassy in Nigeria. His situation then was what late Fela would have called Double wahala, as he missed his flight to Nairobi and at the same time stranded.
The incident was however reported at the Surulere police station but that did not change Michael’s situation as he was forced to stay extra days in Lagos, but not without undue psychological torture. Four days after, the Australia embassy were able to issue Micheal a new Passport to enable him continue with his trip back home.
Meanwhile, when the hotel was contacted, Ronke Bamisedun who spoke with our reporter admitted the lodging of Michael Strano in the hotel, but declined to comment further. According to her “the matter is already a subject of investigation in which we cannot comment on. Our general manager who has the authority to speak to you on this is not available at the moment”.
A Nigerian business associate of Michael who craved anonymity said the case has been reported to Consumer Protection Council (CPC) while their lawyer has been briefed to get in touch with the hotel.
In an email to Michael with a question of when he might come back to Nigeria, he writes “when am I coming to Nigeria next? Unsure”.

The National Examination Council (NECO) and other stakeholders in the nation’s education sector have commended Promasidor Nigeria Limited for supporting education through the Cowbellpedia Secondary School Mathematics TV Quiz Show.
Dr. Ikechukwu Anyanwu, Director, Quality Assurance, National Examination Council, NECO, who represented the Registrar at the press briefing flagging off the competition in Lagos, explained to journalists that corporate organisations should emulate Promasidor’s initiative and elevate the quality of mathematics education in Nigeria
He added that NECO is impressed with the Cowbellpedia initiative and pledged continuous support to make the competition achieve its objectives.
Mr. Samson Osewa, the proprietor of Ambassadors College, the school that produced the winners in both categories in the last edition also praised the effort of Promasidor for the initiative. He maintained that Cowbellpedia mathematics competition has contributed immensely to sustain the interest of his students in mathematics which is considered difficult by many.
The 2016 winners, Miss Juliet Ekoko and Master Ayooluwa Oguntade also commended Promasidor for the opportunity given to them to horn their Mathematics skills through the Cowbellpedia Secondary School Mathematics TV Quiz Show.
These commendations are however coming against the background of great excitement from potential students/schools that have besieged the website to register their participation.
While entry into this competition is free, contestants are required to register online at www.cowbellpedia.ng. Basically, the guidelines mandate the candidates/schools to do the following: Go to www.cowbellpedia.ng; click on link to Register your school; Fill the form; Ensure you fill all required fields and press the Register button to complete the process.
Meanwhile, the Managing Director of the of Promasidor Nigeria limited, Mr. Olivier Thiry has disclosed that the grand prize for this year’s edition is one million naira and an all-expense paid educational excursion outside the country, while the first and second runners up will go home with seven hundred and fifty thousand naira and five hundred thousand naira respectively.
The teacher of the top prize student winner will be awarded four hundred thousand naira, while teachers of the first and second runner-up will go home with three hundred thousand naira and two hundred thousand naira respectively.

Less than a week after four of its executive directors were made to resign, about 55 members in the senior management cadre of Skye Bank Plc have been sacked.
Sources within the bank said these managers were asked to go after they failed in the performance appraisal exercise.
It was said that these manager who were sacked on account of poor performance were adequately compensated by the bank management who has since approved payment of their entitlement and severance packages as contained in their engagement letters and as agreed with the workers’ union.
As the bank was weeding out these managers, it was learnt that almost 300 staff cutting across several cadres up to the managerial level have been promoted.
In his report of the outcome of the annual performance exercise, Mr. Tokunbo Ashiru, Skye Bank’s Group Managing Director/Chief Executive Officer, congratulated all staff of the bank for their hard work in the last financial year, especially given the challenging operating environment.
Abiru urged the newly-elevated staff to see their promotion as a call to re-dedicate themselves to excellence, adding that those who deliver consistently on the job would earn commensurate benefits that befit high performers.
The four directors, who resigned last week, had served in executive management capacity for nearly two years, and were part of the old Board of Directors of the bank, with some earlier had resigned voluntarily on 4 July, 2016 following the intervention of the Central Bank of Nigeria, which consequently re-constituted the Board.

The Federal Government on Thursday announced a lifeline to financially distressed Arik Airlines to continue to keep it as a going concern in the aviation industry.
The management of the Asset Management Corporation of Nigeria, AMCON, said the decision to intervene clearly underscores the government’s commitment to instill sanity in the country’s aviation sector to prevent a major catastrophe in the country.
“The development will afford Arik Airlines, which is the largest local carrier in the country, to go back to regular and undisrupted operations, avoid job losses, protect investors and stakeholder funds as well as ensure safety and stability in the already challenged aviation sector,” AMCON spokesperson, Jude Nwauzor, said.
Under the new arrangement, the airline would be managed by Roy Ilegbodu, a veteran aviation expert, under the receivership of Oluseye Opasanya, a senior advocate of Nigeria.

More later…

…Thanks people, celebrates wife

Act of gratitude is not only beneficial to someone receiving the praise, but even more so, to the one who shows gratitude.
On this score, the president and founder of Omega Fire Ministry worldwide, Apostle Johnson Suleman, has sent his warm appreciation to Nigerians, Africans and the world in general for their exceptional show of love during his recent encounter with the Department of the State Security (DSS).
Suleman, who is regarded as one of Africa’s most popular pastors at the moment in his thank you message during the kick-off of this year’s edition of the annual ‘The Ebenezer’ programme to mark the ministry’s 13thanniversary, said:
“I’m grateful to all. I never knew I was so loved. For the first time ever, fellow Nigerians behaved like Americans. Nigerians naturally have business-like mentality but I was shocked that on this particular issue, 90 percent of Nigerians spoke with one voice, saying enough is enough.
We were not fighting any government, we just declared our stand that we are not cowards and we cannot be cowed by fear. I was so shocked at the level of strength and courage that I had throughout the period. And the courage I surmounted was aided by the love and exceptional concern shown me from all over the world. From over 70 nations, I received a lot of phone calls and text messages from people showing their love and compassion. I got messages of love from different people that I have never even met. I got up to 18,000 different text messages. I read and read. The solidarity was overwhelming. I was moved to tears,’ states the man of God.
Furthering, Apostle Suleman said, “One thing that first moved me was when I got to Abuja to see the DSS, the crowd I saw almost made me to go into hiding. The crowd was so massive that they were ready to take bullets on my behalf. It moved me. The love shown was not just about me but for what they believe in and it gave me so much courage and made me to realize that I was not alone. I’m not taking it for granted, that’s why I’m saying thank you to all. I have to confess that I’m yet to recover from that show of affection. I therefore want to enjoin Nigerians that in whatever situation that we find ourselves, they should keep hearing our voice and I want them to know that one day, things would be fine.
Meanwhile, the firebrand cleric will be visiting the White House, the American seat of power, in March. According to a reliable source from the church, Apostle Suleman’s planned visit was on the invitation of the Mayor of Washington. We gathered that during the august visit, the man of God will have a prayer session with both the Mayor and the president of the United States, Mr. Donald Trump. The invitation, the source notes, was in recognition of Suleman’s selfless service and commitment to humanity and delivering souls.
The Ebenezer programme of OFM started on Wednesday 8th of February, 2017, with people from 32 countries of the world arriving Auchi, the headquarters of OFM worldwide. This year’s programme themed ‘From Glory To Glory’ will end on Sunday 12th. For 13 years, the mission that has now spread into six continents of the world, with the resilience of Apostle Suleman, has brought salvation to millions, healing and deliverance to a lot more, restoration and settlement to very many more.
Also, the church is warming up for the birthday celebration of the matriarch of the ministry, Reverend Dr. (Mrs.) Lizzy Suleman on Sunday, February 26th 2017, although the birth date is February 28th. The source adds that ‘an unusual gift’ awaits the OFM queen from her caring husband, Apostle Suleman.

Popular Nigerian comedian, Gordons, has apologised for calling Tuface an illiterate.
Gordons said this after Tuface backed out from leading the nationwide anti-government protest of Monday.
Tuface initiated the protest but called it off Saturday evening.
The cancellation triggered reactions especially on various social media platforms.
In a video posted on Instagram Tuesday by Goldmyn TV, Gordons was seen firing shots at the popular Nigerian pop star, suggesting that Tuface used a wrong approach in airing his grievances.
“Tuface is my mentor when it comes to music, he is one musician I adore, legendary to me. But you cannot use a tool that you are not used to.
“When Fela was fighting government, he used a tool that he was used to and that was music.
“Sunny Okposo before he died, he was fighting (for) freedom with a tool that he was used to.
“How on earth will Tuface be fighting a fight that he is not used to? Tuface is not a politician, he is a musician.
“If you want to lead a protest, he should lead it with music.
“How are you going to express yourself Tuface, when Microphone is right in your face and you are asked to express your grievance? You can’t express yourself; it’s not your game. Do it with music that you are used to.
“Tuface is the only illiterate who can sing correctly in music”, he said.
This however did not sit well with fans as they took to social media to blast Gordons for publicly calling out Tuface in such a manner.
The reactions however spurred Gordons to tender an open apology on Instagram.
“Whats up people, I just did an SMS of an apology to Tuface and his family because sometimes people misunderstand the reason why we do what we do. I am just a comedian I’m just like a gynaecologist who is doing his job, it doesn’t matter who comes, I will do my job”, he said.
“This is not intended to insult Tuface or the family.
“But I understand the situation we are in and I felt that was a little bit below the belt and I had to apologize, so fans please take it easy with Tuface and the family. This was not intended to bring a fight. Thank you so very much, thanks for all the love and support, peace”, he added.
However, Tuface in a recent post on Instagram, thanked Nigerians for lending their voices to the cause, adding that he was not moved by those calling him a coward for backing out.

The Serving Overseer of the Latter Rain Assembly, Pastor Tunde Bakare, has revealed that Muhammadu Buhari, while persuading him to be his presidential running mate in 2011, said he wanted a vice president who can hold the country together in case he dies while in power.
It would be recalled that both men ran for the 2011 election under the platform of the now-rested Congress for Progressive Change, CPC, but lost to Peoples Democratic Party, PDP’s Goodluck Jonathan.
Addressing his congregation in Ogba, Lagos last month, Bakare said all what transpired during that period had been documented in his book: ‘Strategic Intervention in Governance’.
According to him, “After I was called and I went to Abuja, and I sat with Mr President or General Buhari then, I said why me? ‘I’m not a politician’, ‘I do not belong to any political party’, ‘I am not carrying card of any party, why me’?
“He gave me all the reasons, they are written in the book; Strategic Intervention in Governance. He gave three reasons, but the one that made everyone around me that day to dove their hats was when he said: I am not as young as you think, and even Yar’Adua that is younger is dead.
“In case I die, I know you can hold the nation together. That was when Jim (he didn’t give his surname) removed his cap and said egbon, you must agree.”
Bakare disclosed that Buhari rejected former President Olusegun Obasanjo’s choice of former Finance minister, Ngozi Okonjo-Iweala, to be his running-mate, stating that Obasanjo said he would only accord his support to Buhari’s aspiration if he settles for Okonjo-Iweala.
In the words of the pastor, “The day I signed that paper was the last day of submission. I carried the candidacy paper with me, but I didn’t fill. The final day, Nasir el-Rufai (current governor of Kaduna) came to my room, and said Chief Obasanjo summoned him, that if he could appoint Okonjo-Iweala and drop Bakare, he (Obasanjo) will support Buhari.
“I was so glad, I was totally relieved, I took the nomination paper and I said ‘let us go to General Buhari’s room’. He took us to his bedroom, only three of us there.
“I said Nasir el-Rufai has just come to tell me good news, President Obasanjo has spoken to IBB, has also spoken to Dangote, they will now support you if you can only substitute Ngozi Iweala and let me go.
“I said, sir, there are five reasons why you must yield to this, and he kept on looking at me… Look, many of you don’t know this man… For the ability to keep calm in the midst of storm and not say anything… to hold your peace, I need some Fulani blood.
“I said five reasons why you must embrace this: ‘1. Ngozi Iweala is Delta Igbo; you have solved the problem of south-south and south-east. 2. She’s a Christian, faith balance. 3. She is a woman, gender balance. 4. She is a former minister of finance and external affairs, it is called experience, and currently, her position in the World Bank gives her global exposure, any of this five, I don’t have’.
“He looked at me, and said did Obasanjo meet with you or Nasir? I said honourable minister (el-Rufai), you speak, and he repeated all the things I’ve said. And he (Buhari) asked him, what do you think he (Obasanjo) is up to? He said ‘you know our boss, there is something up his sleeve’.
“Then he turned to me, and said Pastor Bakare I told you I have prayed my own prayer the way I know how to, and I chose you, if you don’t want, give me the form, I would look for somebody else.
“It was then Nasir said, egbon, sign it. In that room, I signed it, and Nasir seconded it. I left the place and it was as if a burden lifted.”

It is with rude shock and personal sense of consternation that my attention has just been drawn to online publications with numerous calls from Nigerians, that my account containing N75 million domiciled with GTBank has been temporarily frozen, allegedly based on an ex-parte order obtained by the EFCC from the Honourable Justice Abdulazeez Anka of the Federal High Court, Lagos.
It is alleged that the said sum of N75 million is ‘’suspected’’ to be the proceeds of crime or that it is from money laundering. This is an invidious lie from the pit of hell.
For the records, the N75 million was paid into my account by my client, Governor Ayodele Fayose of Ekiti State, as part payment of Professional Fees for the numerous cases my chambers is currently handling for him (in his personal capacity) and his aides across Nigeria. The money is neither ‘’suspected proceeds of crime’’ nor of money laundering.
On the 13th day of December, 2016, I defeated the EFCC in a judgment delivered by the Honourable Justice Taiwo O Taiwo, sitting at the Federal High Court, Ado Ekiti. In his judgment dated 13th December, 2016, the court ordered the EFCC to immediately defreeze two accounts belonging to Governor Fayose and domiciled with Zenith Bank Plc, which accounts EFCC had, illegally , unconstitutionally, an in a most uncouth and cavalier manner frozen and blocked in Zenith Bank Plc. The court described the action of the EFCC as ‘’illegal, wrongful, unconstitutional and unlawful’’.
Mr. Rotimi Oyedepo, the same lawyer who was said to have obtained the ex-parte order blocking my account from Honourable Justice Abdulazeez Anka, is the very counsel for the EFCC in the case I won for Governor Fayose before the Federal High Court, Ado Ekiti.
After the accounts were defrozen by the judgment of the court, I urged Governor Fayose to make part payment of N100 million for the numerous cases I am handling for him and his aides across Nigeria, but which he did not have funds to pay for. He then transferred, with the cooperation of Zenith Bank Plc, which was actually the 2nd Defendant in the suit, the sum of N75 million as part payment of my Professional Fees. I have since utilized the funds for the payment of salaries, school fees of my children schooling in Nigeria and abroad, with spirally inflation, and for my Mike Ozekhome Foundation (MOF) activities.
On the 19th of January, 2017, Honourable Justice Taiwo O Taiwo of the Federal High Court, Ado Ekiti, took argument on a motion for injunction pending appeal restraining Governor Fayose from withdrawing the remaining balance in his said accounts. This same motion was argued by the same Rotimi Oyedepo.
The court on the 31st of January, 2017, dismissed EFCC’s motion. He has now appealed to the Court of Appeal, Ado Ekiti, with a similar motion. The present action of EFCC is clearly calculated to overreach Governor Fayose in the appeal and also to embarrass and intimidate me from defending Governor Fayose. This will never happen. I will continue to defend beleaguered and oppressed Nigerians from the antics and high handedness of publicly funded government institutions that breach their fundamental rights.
It is sickening and inconceivable that money legitimately and legally paid by a client to his Solicitor from an unencumbered account wholly and totally defrozen and unblocked by the judgment of a competent court of law can be termed “suspected proceeds of crime or money laundering’’. I am a practising lawyer, not a government employee, contractor or a business man. I have NEVER laundered and will NEVER launder any money in my life.
It is so shameful and disgusting when we make ourselves a laughing stock before international circles through brazen unconstitutional acts by publicly funded government institutions, just to silent all critical voices of reason and plurality of ideas. I shall take immediate legal steps to defreeze the account, in the event that the EFCC does not immediately voluntarily vacate the said order.
Chief Mike Ozekhome, SAN. OFR, Constitutional lawyer and Human Rights Activist.

Mike Ozekhome, a Lagos-based human rights lawyer, is in trouble as the Federal High Court in Lagos ordered the temporary forfeiture of the sum of N75 million found in his account. The money, domiciled with Guaranty Trust Bank (GTB), was discovered by the Economic and Financial Crimes Commission (EFCC). Mike Ozekhome (SAN) The presiding Judge, Justice AbdulAziz Anka, gave the order on Tuesday when he delivered ruling in a Motion Ex-parte filed by the anti-graft agency.
The motion sought that Ozakhome’s account be temporary frozen on the ground that the money deposited in his account on 15th December, 2016, was suspected to be proceeds of crime. The application was filed before the court by Rotimi Oyedepo.
Arguing the motion, an EFCC lawyer, Mr. Idris Mohammed, informed the court that the application was brought before the court pursuant to section 29 of EFCC Act. Idris said that three exhibit marked exhibit 01, 02 and 03 are attached with the Motion Ex-parte in addition to an affidavit of urgency sworn to by an investigator of the agency, Tosin Owobo.
He urged the court to grant the application ordering temporary forfeiture of the account for 120 days. Acceding to the request of EFCC, Justice Anka ordered that Ozekhome’s account with the sum of N75 million domicile with Guaranty Trust bank be forfeited for 120 days. The judge also ordered that any party not satisfied with the ruling could appeal.

If information reaching us is anything to believe, then, these are not the best of times for Mr. Phillip Ikeazor, the managing director/chief executive officer of Keystone Bank Limited over an alleged N4.2 billion illegal transaction as some aggrieved shareholders of the bank have expressed dissatisfaction with the poor performance of the bank’s chief and are therefore calling for his resignation.
We learnt, the Economic and Financial Crimes Commission, EFCC, has raised a team to interrogate the managing director/chief executive officer of alongside two other directors of the bank.
The two other directors under investigation by the agency, a source at the anti-graft agency said, are the executive director, corporate bank and treasury, Mr. Hafiz Bakare and executive director, North directorate, Dr. Shehu Muhammad.
According to the source, the call for the investigation came on the heels of the House of Representatives Public Accounts Committee (PAC) submission urging the anti-graft agency to beam its searchlight on the lender over its illegal movement of N4.2 billion from the Industrial Trust Fund’s account domiciled with the bank.
The committee said circumstances that led to the transfer of the fund without due permission from ITF should be investigated to ascertain the rationale behind such action.
Citing the auditor-general’s report, deputy chairman of the committee, Rep Ibrahim Baba (APC, Bauchi), who presided over the panel’s session on the matter said Keystone Bank moved money thrice from ITF’s account domiciled in the bank in November 2010.
He said on discovering the irregular transaction during one of its audit visits, the auditor-general’s team raised a query on the matter, saying an interest of N23.5 million was supposed to be paid by the bank.
But ITF’s director general, Joseph Ari, in his response said the transaction was carried out without the agency’s authorization and that the bank had explained that it was done in error.
He read a letter from Keystone Bank in which the bank said it had reversed the transaction but that no interest was paid to ITF.
He said as part of efforts to get the transaction rectified and the accrued interest paid, ITF reported the matter to the Central Bank of Nigeria (CBN) and that the apex bank advised an amicable settlement.
He said, however, that despite meeting with the officials of the bank on the matter, no solution could be found. Thus, the committee called on the EFCC to come into the matter with a view to investigating the transaction.
Meanwhile, one of the shareholders who spoke to our correspondent said that until the appointment of Ikeazor, the bank was doing well.
“Phillip Ikeazor does not have the ability to drive the bank. Since he assumed office in 2013, the bank has been struggling for survival; the fortune of the bank has continued to dwindle.”
“Recalled earlier last year, Mr. Ikeazor disclosed plans to sell the bank’s subsidiaries in three West African nations of Liberia, Sierra Leone and Uganda due to insufficient funds to operate an international license or recapitalize them.” Why won’t it get to that point when he cannot present the bank viable for business?”
“This is an institution that buyers were jostling for as at 2012 but today, reverse is the case.
“He should honourably resign his position for a more competent hand,” the source noted.
Our findings on some of the bank branches showed that they were struggling from low patronage and it has closed down some of them in Lagos. The bank had shut down its Oko-Oba Branch and Ojodu Branch in Lagos.
Efforts to speak with Mrs. Omobolanle Osotule, Head of brands and corporate communications of the bank proved futile as her mobile line was not reachable as at press time.
Keystone Bank is one of the three commercial banks that were acquired by the Asset Management Corporation of Nigeria (AMCON) through a ‘bridging’ process. The bank was established from the carcass of the defunct Bank PHB in August 2011.

First Bank of Nigeria Limited has been named the most valuable banking brand in Nigeria in the Top 500 Banking Brands of The Banker magazine of the Financial Times and Brand Finance, London, United Kingdom.
The bank, which is also the only Nigerian bank in the top 10 banking brands in Africa, along with nine other banks from South Africa and Morroco, is being named for the sixth consecutive time.
According to a press release issued on Sunday by the Country Representative, Nigeria, The Banker magazine, Kunle Ogedengbe, First Bank leads four other Nigerian banks in the global ranking.
With $301 million brand value, First Bank ranked 357 led Guaranty Trust Bank, GTB, ranked 395 with a brand value of $258 million, and Zenith Bank 414 with a brand value of $247 million.
Access Bank followed at 476 with a brand value of $182 million and the United Bank for Africa (UBA) with a brand value of $172 million ranked 487 in the world.
While explaining the methodology of the ranking, the Editor, The Banker, Brian Caplen, said that Brand Finance employs a discounted cash flow technique to discount estimated future royalties at an appropriate rate to arrive at a net present value of a bank’s trademark and associated intellectual property.
Mr. Caplen explained that the process involved five steps which include obtaining brand-specific financial and revenue data; modelling the market to identify market demand and the position of individual banks in the context of all other market competitors.
He added further that it will also establish the royalty rate for each bank; calculate the discounted rate specific to each bank, taking account of its size, geographical presence, reputation, gearing and brand rating; and discount future royalty stream (explicit forecast and perpetuity periods) to a net present value.
Mr. Caplen disclosed that the approach is used for two reasons, noting that it is favoured by tax authorities and the courts because it calculates brand values by reference to documented third-party transactions, and it can be done based on publicly available financial information.
The deputy editor of the magazine, Joy Macknight, said on the global front, Industrial and Commercial Bank of China is number one with a brand value of $47,832 million followed by Well Fargo of the United States of America with a brand value of $41,618 million.
The remaining eight banks in the top ten are China Construction Bank, Chase (JP Morgan & Co of the USA), Bank of China, Bank of America, Agricultural Bank of China, Citibank (USA), HSBC (UK), and Satander (Spain) noted Macknight.
According to the realease, in the top 50 countries in the world, only four African countries made the list. These are South Africa (26), Nigeria (42), Egypt (46) and Morocco (47).

The Director-General of Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dakuku Peterside, has revealed what stalled the Federal Government’s contract with Global West Nigeria Limited, a company owned by former militant leader, Government Ekpumopolo, alias Tompolo.
The Federal Government under the leadership of former President Goodluck Jonathan reportedly approved a maritime security contract with Tompolo’s company in 2011, but Peterside said the contract is currently being stalled because of the investigation of the company by the Economic and Financial Crimes Commission, EFCC.
The NIMASA boss, who made this disclosure while interacting with journalists in Port Harcourt on Sunday, explained that although the contract with the firm was still subsisting, it can no longer be enforced due to the ongoing inquiry by the anti-graft agency into Tompolo’s company.
He however pointed out that NIMASA was communicating with the firm with a view to resolving issues concerning the contract.
“The Global West contract is still subsisting, even though it is not enforceable because Global West is being investigated by the Economic and Financial Crimes Commission. That has made it impossible for us to derive the requisite benefit in that contract,” Peterside said.
He pointed out that the new board of NIMASA had brought change to the agency through motivation of workers, adding that while300 workers were promoted, the agency has attracted more technical training than in previous years.
The NIMASA DG disclosed that the agency’s board had approved the construction of a multi-storey building that would house its Zonal Office in Port Harcourt, the Rivers State capital.

If information reaching us is anything to believe, then, these are not the best of times for Mr. Phillip Ikeazor, the managing director/chief executive officer of Keystone Bank Limited over an alleged N4.2 billion illegal transaction as some aggrieved shareholders of the bank have expressed dissatisfaction with the poor performance of the bank’s chief and are therefore calling for his resignation.
We learnt, the Economic and Financial Crimes Commission, EFCC, has raised a team to interrogate the managing director/chief executive officer of alongside two other directors of the bank.
The two other directors under investigation by the agency, a source at the anti-graft agency said, are the executive director, corporate bank and treasury, Mr. Hafiz Bakare and executive director, North directorate, Dr. Shehu Muhammad.
According to the source, the call for the investigation came on the heels of the House of Representatives Public Accounts Committee (PAC) submission urging the anti-graft agency to beam its searchlight on the lender over its illegal movement of N4.2 billion from the Industrial Trust Fund’s account domiciled with the bank.
The committee said circumstances that led to the transfer of the fund without due permission from ITF should be investigated to ascertain the rationale behind such action.
Citing the auditor-general’s report, deputy chairman of the committee, Rep Ibrahim Baba (APC, Bauchi), who presided over the panel’s session on the matter said Keystone Bank moved money thrice from ITF’s account domiciled in the bank in November 2010.
He said on discovering the irregular transaction during one of its audit visits, the auditor-general’s team raised a query on the matter, saying an interest of N23.5 million was supposed to be paid by the bank.
But ITF’s director general, Joseph Ari, in his response said the transaction was carried out without the agency’s authorization and that the bank had explained that it was done in error.
He read a letter from Keystone Bank in which the bank said it had reversed the transaction but that no interest was paid to ITF.
He said as part of efforts to get the transaction rectified and the accrued interest paid, ITF reported the matter to the Central Bank of Nigeria (CBN) and that the apex bank advised an amicable settlement.
He said, however, that despite meeting with the officials of the bank on the matter, no solution could be found. Thus, the committee called on the EFCC to come into the matter with a view to investigating the transaction.
Meanwhile, one of the shareholders who spoke to our correspondent said that until the appointment of Ikeazor, the bank was doing well.
“Phillip Ikeazor does not have the ability to drive the bank. Since he assumed office in 2013, the bank has been struggling for survival; the fortune of the bank has continued to dwindle.”
“Recalled earlier last year, Mr. Ikeazor disclosed plans to sell the bank’s subsidiaries in three West African nations of Liberia, Sierra Leone and Uganda due to insufficient funds to operate an international license or recapitalize them.” Why won’t it get to that point when he cannot present the bank viable for business?”
“This is an institution that buyers were jostling for as at 2012 but today, reverse is the case.
“He should honourably resign his position for a more competent hand,” the source noted.
Our findings on some of the bank branches showed that they were struggling from low patronage and it has closed down some of them in Lagos. The bank had shut down its Oko-Oba Branch and Ojodu Branch in Lagos.
Efforts to speak with Mrs. Omobolanle Osotule, Head of brands and corporate communications of the bank proved futile as her mobile line was not reachable as at press time.
Keystone Bank is one of the three commercial banks that were acquired by the Asset Management Corporation of Nigeria (AMCON) through a ‘bridging’ process. The bank was established from the carcass of the defunct Bank PHB in August 2011.

BY SENATOR DINO MELAYE

The recent attempts by governor Bello of Kogi state to ignite romance with northern religious leaders may have potentially predisposed the state to endemic religious crisis regardless of its pious look.
Governor Bello had invited the Sultan of Sokoto and the Emir of Zazzua alongside a renown Islamic scholar Sheik Dahiru Bauchi to commission an ongoing building in the state tagged as Revenue House. The building, according to some reliable sources was still an ongoing project at the time of commissioning.
Meanwhile, the invitation of those traditional leaders is seen by some pundits as a political romance aimed at covering Bello’s 365 days palpable failure and untold hardship which his weak and puerile policy wrecked on the people of Kogi state.
This is coming same day the state’s chapter of the ruling All Progressive Congress, APC and concerned political leaders in the state lampooned the Governor and passed a vote of no confidence on him. According to them, Bello’s one year in office has further retarded the economic fortune of the state having squandered over 220 billion tax payers’ money without evidential proof of any executed project .
Like the child who lost her mother to child birth, Kogi state has been languishing in sorrow, shedding endless tears since the inception of Governor Bello administration which is characterized by anti-people policy. To others, Bello endless staff auditing and verification exercise has made him a ghost governor.
While I do not nurse any grudge against his eminence, the Sultan of Sokoto and the respected Emir of Zazzua as well the Islamic cleric invited by governor Bello, because, they are respected individuals who have contributed greatly in sustaining the peaceful coexistence of the entity called Nigeria but what flabbergasted my imagination was the lopsided approach employed in inviting them without considering other religion faithfuls in the state .
It should be on record that I owe these respected traditional rulers and the cleric a great deal of respect. However, the rationale behind their honouring Bello’s invitation remains eternally a puzzle and conundrum that cannot be unraveled. Perhaps they were not properly briefed of the situations of things in the state and that Governor Bello was merely using their presence in the state as a means of plastering and enveloping his awkward reigns and his gauche administration.
The very fact that other traditional rulers and Christian leaders were not part of Governor Bello’s scheme was another issue that requires proper dissection given the secularized nature of the state.
Though Bello and his handlers may have failed to learn from history as Kogi state since creation has never witnessed religion crisis nor attracted any acrimonious romance from any state considering its secular nature but for Bello to have extended his hand of fellowship only to Northern and Islamic leaders without recourse to the secular nature of the state where we have both Christians and Muslims, this indeed portend great disaster for the state.
It remains to be seen why other Christian and traditional leaders both within and outside the state were not deemed to be invited alongside Bello’s northern allies who only came as a cover up to his fiasco laden administration.
The visit of Bello’s Sultan and others has been seen by some analysts as a technical enslavement of the state to the northern Islamic leaders as it is widely believed that, the north orchestrated his ride to the throne to pave way for their domination in the state. However, this zigzag visitation has validated the unventilated thought of the people.
Like Nigeria, since creation, Kogi has been a secular state and no governor has given any religious colouration to its activities in the recent times. Even those Bello tagged as gatemen governors but who in all judgments performed credibly better than him never resorted to this level of myopic religious romance.
The state has never experienced religious crisis. It is on record that, when Sharia law crisis was looming across the country between 2000 and 2001, it took the wisdom of President Olusegun Obasanjo to stop the spread in the country and the talismanic leadership display of Former Governor Audu to keep the state on the trajectory of peace. Never in the history of state has any governor favoured a particular religion at the peril of others.
In a secular state like Kogi, the discerning public will expect the governor to be devoid of religious sentiment and would have balanced such invitation by inviting the president of Christian Association of Nigeria, CAN, and Cardinal Onaiyekan, a highly revered clergy man from Kogi state. A governor that respects equity, fairness and justice should have trodden this solemn corridor.
Better still, how justifiable does it sound for a project that is totally funded and sponsored by the government using public funds to be used as a platform of begging for spiritual blessings and garnering royal influence even when the state workforce and the pensioners have not been paid for several months.
Apparently however, those who advised Governor Bello to take this ignoble step may have buried his political career in the early grave as he has proven beyond any reason doubt that his wantons ambition of coming back to Luggard House in 2019 is making him to go all out and step out of his way to attract sympathy from the same north that aided his emergence.
However, a cross section of Kogites are asking, why such an uncompleted building should be hurriedly commissioned when it is obvious that so many things were still needed to be done on the building project? This further showed that, Sultan and Co may have come to the state for other reasons Kogites do not understand. May be the concealed reasons may be excavated with time.
Kogites want to know why such a project could not attract the presence and the visit of the Acting President, Prof. Yemi Osinbanjo or any Federal Minister for commissioning since it is a public project and Bello would rather use tax payers money to host religious leaders without due and holistic approach.
Besides endangering the state to Islamic enslavement, this lethargic approach taken by Governor Bello remains the highest insult of the Century since neither Governor Aminu Tambuwa of Sokoto state where the Sultan come from nor Governor El-rufai of Kaduna state, the state of Emir of Zazzua have at any time invited our respected Attah of Igala who doubles as the president of Traditional Council of Kogi state to commission projects in any of those states.
Since it has been rumoured that the northern political and religious elites galvanized supports for Bello’s emergence, Kogites will continue to watch if this glaring Islamic enslavement of the state and squandering of the state’s funds to perpetuate a sinking agenda is Bello’s way of rewarding his unseen political kingmakers.
Since Kogi state is a secular state, as it is always expected of any egalitarian society, fairness and equity should be the watchword of public officials in handling especially those issues that bother the peaceful coexistence and unity of the people.
Governor Bello should therefore swallow the bitter pill and explain to Kogites why he snubbed Christian leaders while commissioning his yet to be completed Revenue House.

Enoch Adeboye, the general overseer of the Redeemed Christian Church of God, worldwide, has said “the worst leadership is from the church.”
The cleric said bad leadership was the core of Nigeria’s problem as a nation, but noted that it was particularly worse in the church.
PUNCH reports that Adeboye made the comments on Wednesday in Ikeja, Lagos, during the third annual birthday public lecture organised to commemorate his 75th birthday.
Represented by his wife, Foluke, the pastor said, “Leadership is at the core of our problem in this nation. Some people sit in their room and comment on newspaper articles, but have you removed the log in your eyes?
“If there is anywhere leadership should be recommended, it should be from the church. But it is unfortunate that the worst leadership is from the church. We should go and check ourselves. Are we in true leadership or we are in falsehood? Because this has been the groaning of my heart for many years and I pray about it fervently.
“I challenge the leaders in this church that what the Bible says about elders, I have not seen it. But things are changing and I want us to be part of that change.
“The problem of corruption which we have in this nation would not have been there if everybody is contented with what he or she has. But people love to do more than they have. They want to show off to their children, and the children also when they get to school or are with their colleagues, are not satisfied because they were not brought up to be satisfied.”

Lagos State Governor, Mr Akinwunmi Ambode on Wednesday signed into law the anti-kidnapping bill recently passed by the State House of Assembly, with a pledge to ensure its full implementation to eradicate kidnapping once and for all in the State.
The Prohibition of the Act of Kidnapping Law imposes a penalty of life imprisonment on kidnapping for ransom. The law also stipulates that where a victim dies in the course of kidnap, the suspect is liable on conviction to death.
Speaking at the signing ceremony held at Lagos House in Ikeja, Governor Ambode said the spate of kidnapping in the State had gotten to a level that required decisive action from government, hence the need for the enactment of the law to send serious message to perpetrators of such heinous crime.
He said aside the enactment of the law, the State Government was also putting in place appropriate measures particularly in the schools and other vulnerable targets to prevent kidnapping and other security breaches.
The Governor said: “Security is of utmost importance to our administration and we are confident that this law will serve as a deterrent to anybody who may desire to engage in this wicked act within the boundaries of Lagos.
“Why we use this law to address the challenge and punish the criminals, we are also putting in place appropriate measures particularly in our schools and other vulnerable targets to prevent security breaches and it is important that we ensure that everything we do in respect of this anti-kidnapping law is in good faith and good spirit to eradicate the issue of kidnapping once and for all in the State.”
Governor Ambode assured that the justice system would be activated to execute the anti-kidnapping law to the letter to ensure that any criminal caught is subjected to the full wrath of the law.
The Governor, at the ceremony, also signed the Sports Trust Fund Bill and the Sports Commission bill into law, explaining that the laws were enacted to address key issues bordering on security and effectively harnessing the potentials in the sports sector.
Giving insight on the laws, Governor Ambode said: “The Sport Commission Law will give legal backing to the formulation and implementation of sport policies in the State while the Sport Trust Fund will enable government to raise money for the development of sporting facilities and activities.
“This fund will provide a platform where the State Government can enter into partnership with the private sector to finance sports infrastructure, tournaments and programmes which will in turn create employment and generate revenue for the State.”
He added that as provided for in the law, a Board of Trustees comprising all stakeholders in the sports community would soon be inaugurated for the Trust Fund, saying that with the law, government was restating its commitment to scale up sports development and make the State the hub of sports in Nigeria.
He also appreciated members of the Lagos State House of Assembly for their efforts in the enactment of the laws.
In his remarks, Speaker of the Lagos State House of Assembly, Hon. Mudashiru Obasa, said the signing of the bills into law by the Governor was a clear testimony of the commitment of the State Government to the security of citizens and sports development.
Obasa, who was represented by the Majority Leader of the House, Hon Sanai Agunbiade, said it was particularly gratifying to note that the anti-kidnapping law was an all-encompassing one which prescribes punishment for the actual actors, those that collaborate, aid and abet and those who see the act of kidnapping being perpetrated and do nothing about it, as well as confiscation of properties attached to the heinous crime of kidnapping.
He said the passage and signing of the law was a direct response and responsiveness of the government to the spate of kidnapping in the State, adding that the expansive provisions in the law would, in no long distant future, ensure the eradication of the menace in the State.
On the bills on sports, the Speaker said: “We are happy that Lagos State is taking a very bold step at ensuring that sporting activities get a boost from the government and this is a clear demonstration to the people of Lagos State and Nigeria that the State Government is paying adequate attention to sporting activities

Apostle Suleman Johnson, general overseer of Omega Fire Ministries Worldwide, has left the headquarters of the Department of State Services (DSS).

The agency had invited him for questioning over his directives that Fulani herdsmen should be killed.

A source disclose that the clergyman arrived at the office of the agency at 7:45 pm in the company of two governors, who did not want to be named.

A fortnight ago, the preacher told his congregation that he had ordered his security aides to kill herdsmen who come around the premises because he learnt they were after him.

And last Wednesday, DSS operatives invaded Suleman’s hotel room in Ekiti state with the intention of arresting him.

But Ayodele Fayose, governor of the state, came to his rescue.

After its failed attempt to arrest the preacher, the DSS then asked him to report to its office in Abuja at 10am on Monday.

However, Suleman arrived at the DSS office long after the scheduled time.

We learnt that Lawal Daura, director-general of the DSS, interrogated the preacher himself.

More to follow…

As against the earlier call by some concerned bodies for christians to come out enmasse for a protest march to the Abuja DSS office on Monday as Apostle Johnson Suleman honours its invitation, the servant of God through his ministry, Omega Fire Ministries Inc, has urged caution against any form of protest for the sake of peace.

The Department of State Security (DSS) had sent a formal invitation to Apostle Johnson Suleman to appear before its officials on Monday 30th January 2017.

In a statement signed by the OFM Admin, Pastor David Apelorioye, the ministry pleads: “We ask all Christians to stay away from the planned protest and pray for the nation. We can almost agree that this is not a war but an invitation.

“Apostle Johnson Suleman is a man of God and has the love of the nation at heart, we do not want anybody or group to use the current situation to create anarchy in the system.

“He appreciates the love and support received so far since the attempted arrest and he wishes that we crown this efforts with a call to pray rather than the protest march.

Once again, we urge Christians to pray fervently for the peace of the nation and the nullification of the plans of the enemies of this nation.”

The Federal Government has again shelved the national population and housing census to 2018. The exercise which was earlier scheduled to hold in 2016 was initially pushed forward to 2017 due to lack of adequate preparations but has to be further postponed to 2018.
The exercise, we learnt will gulp approximately N272 billion as it would cost the National Population Commission (NPC) about $8USD to enumerate single citizen Nigeria has an estimated population of 140 million people according to the 2006 census.
Chairman, National Population Commission, Dr Eze Duru-Iheoma disclosed yesterday that the latest postponement was because contrary to expectations there was no provision for the exercise in the 2017 Appropriation Bill currently before the National Assembly.
Duru-Iheoma who dropped these hints while featuring on Radio Link, a Radio Nigeria current affairs programme monitored in Abuja. The NPC boss disclosed that even though the commission had commenced the preliminary exercise known as Enumeration Area Demarcation ( EAD), the exercise had been hindered by paucity of funds. He also said that there has not been the mandatory presidential proclamation on the census which could have triggered support from international development partners.
According to him there was need for adequate preparations for the next census as the NPC was poised to deploy modern technology to conduct the next census. He said that not only will the commission make use of satellite inageties but will deploy direct capture system to collect the photographic and biometric information of ‘ every citizen.
Underlining the need for a presidential proclamation, Duru-Iheona said it was a convention which if applied could alert the world and unlock the pool of fund expected from the international development partners.
On the inclusion of data relating to ethnicity and religion, he said these were vital statistics that should be captured to present an over all picture of the population diversity in the country.
However, another discussant on the panel, Prof. Rhoda Mundi of the University of Abuja expressed a different view on the issue, arguing that including religion and ethnicity could produce results that might create more tension in the country. According to her, politicians and other interest groups might use such information to cause mischief and create avoidable chaos in the polity
The Director General, National Population Commission, Dr Ismaila Bello who was also a guest on the programme emphasised the need for Nigerians to cooperate with the commission to conduct a reliable census whenever the federal government have the marching orders for it to commence.

The General Overseer of Omega Fire Ministries Worldwide, Apostle Johnson Suleman, says those who rumour that he is with the Peoples Democratic Party, PDP, owes him an apology.
This was as he revealed that his father is a leader of the All Progressives Congress, APC, in his Auchi hometown in Edo state.
The controversial preacher recently escaped arrest from operatives of the Department of State Services, DSS, who came for him while in Ado-Ekiti for a 2-day crusade. Following his distress call, Governor Ayo Fayose mobilised to the hotel Suleman was lodged to prevent his arrest.
This happened days after a video that went viral on the internet showed Suleman instructing his church members to kill any Fulani herdsman found around Omega Fire premises, asserting that nothing will happen.
But addressing members of his church after the Ado-Ekiti incident, Suleman accused his traducers of making it look as if he does not like the APC government.
According to him, “I am speaking to clear the air, because number one, people who are going about saying things about me, do not know me.
“They owe me an apology for all of those statements. They are making the issue political, as if I am with PDP. Let me say this thing that Nigerians do not even know. Let me shock them. My father is a leader of APC in Auchi.
“If I were to be political, don’t I know who to follow? But I am not interested in politics.”
The controversial Evangelical preacher went on to state that he has nothing personal against Fulanis and Muslims, even as he vowed not to apologise for telling his people to go after herdsmen.
He explained, “I need to speak about this because of my friends and most of our northern pastors who have Fulani members.
“Many of them have been so concerned. They said: ‘Daddy, we know you love us.’… My driver in Lagos is a Muslim. He has been driving me for nine years and I have bought him two cars. If I am not tolerant, a Muslim won’t drive me.
“One day, there was an issue that happened at the gate of the church and I met with all the security men. I discovered that one of them was a Muslim and I asked how he happened to be there.
“He said he had been here for a long time and he was their supervisor, chief security officer. The way people make comments online, they say, ‘He has asked Muslims to kill Christians’.
“I come from a Muslim family. Some of my family members are Christians, some are still Muslims… I have decided to ignore them (people criticisng him) because your viewpoint is what determines your point of view. What gets your intention should not get your attention. They don’t know me.”
The pastor said he was angry because those who he was referring to in the video, which trended on the social media, are now rejoicing that the issue has taken a religious colouration.
Clarifying that he will continue having high regards for Fulanis who are tolerant and respect the sanctity of life, Suleman singled out the Emir of Kano, Muhammad Sanusi, for commendation, noting that the monarch built a church reportedly destroyed during crisis.
His words, “Let me give you an example, the emir of Kano is an intelligent Fulani man. He is a Muslim. There was a church that was destroyed, but he rebuilt it.
“Will I tell people to go and kill such a person? The Fulani people who are very enlightened have called me. They understand me.
“The reason I’m speaking now is because the herdsmen whom I am angry against are happy that this issue has become a religious one.
“I’ll not withdraw my statement and those of you who are my children and pastors need to know what I’m fighting for, so that you can stand tomorrow and say ‘this is what I’m fighting for’.”

FOLAJIMI BAJOMO

As a people, Nigerians can be fiercely nationalistic. Positively, that is. This involves a sense of pride in achievements and is closely linked to the concept of patriotism.
Wanting the best for your country in everything, certainly, must be a good thing. It shows that the people care. But then, in many cases, nationalism is heavily driven by emotions which, at times, makes a people less inclined to consider positions other than theirs.
This is what I believe is at play in the furious debate provoked by the decision of MultiChoice to have the Big Brother Naija reality show shot on a location in South Africa. Big Brother is a big deal, obviously.
The first edition of the show, 11 years ago, was shot in Nigeria and exclusively featuring Nigerian housemates, it is not out of place to request that the show be shot in Nigeria instead of South Africa. The clamour for the show to be shot in Nigeria, quite understandable, but is in many quarters wrongly framed.
First, it is couched as though Nigeria is a victim of some diabolical conspiracy by South Africans. This is a widely-held view that never fails to get our goat.
And whenever this happens, arguments against our position, however compelling, get washed away in the flood of our emotions.
Second, the agitation, which has the texture we see in labour disputes, has provoked admiration for the new US President (an overwhelming hate figure in these climes). Trump’s “bringing American jobs back home” rhetoric, once derided as insular, is, for convenience, being advertised on the social media as inspired. The view is that jobs that should have gone to Nigerians via the Big Brother Nigeria shoot have been handed to South Africans.
In a nutshell, we consider our national pride wounded, leaving us in a funk and feeling sorry for ourselves.
Our unhappiness has put pressure on the Federal Government, which has directed the National Broadcasting Commission (NBC) to probe why the shoot could not take place in Nigeria. While we wait for the outcome of the investigation, we can pause, take a breath and reflect.
These activities, I believe, could help shape our response to this raging issue. I have read the explanation of MultiChoice and from the business point of view, it makes plenty of sense. As a small business owner and in these really straitened times, it is in the interest of the business and those who rely on it for me to cut costs where I can. The alternative is to pretend that I am still in a boomtime and watch the business go bust. That is why I understand the explanation of MultiChoice, when it said it decided to stage the show in an existing Big Brother facility in South Africa (presumably purpose-built) instead of paying for a new one (rent or construction) in Nigeria. The facility has been used for all the previous Big Brother series, including Big Brother Xtremo, produced for the Portuguese speaking nations of Angola and Mozambique.

The cost of flying housemates and performers to South Africa, I believe, will be lower than building a Big Brother facility here. I think the less said about Nigeria’s electricity supply, which is a requirement for a round-the-clock production like Big Brother Naija, the better. We all know the story.
I also do not exactly disagree with MultiChoice’s desire to deliver top class production, as we know it does, and meeting production timelines. And to achieve these, the company got some members of the production crew to join their colleagues in South Africa. In addition, the host of the show and many of the personalities involved, including artistes, are Nigerians. The voice of Biggie is similarly a Nigerian one.
Nigerians’ wish to cast themselves as victims of MultiChoice oppression is one, I humbly disagree with. The reasons do not require deep insight to work out. One, all the editions of the AfricaMagic Viewers’ Choice Awards (AMVCAs), which began in 2013, have been held in Nigeria. Without fail. Two, MultiChoice’s support for and investment in the Nigerian entertainment sector, in my view, is huge and unrivalled.
Many productions, including the hugely successful Tinsel, are made here.
On the internet, I have read stories of complaints, especially by East Africans, that Nigeria gets too much preferential treatment in terms of support for Nigeria and the volume of her content broadcast on MultiChoice’s platforms, DStv and GOtv.
It is also in Nigeria that MultiChoice is involved in boxing through the hugely successful GOtv Boxing Night, which in less than three years, has rescued the sport. There is no such support for boxing in South Africa, a country that gets us red-eyed almost every time. GOtv Boxing Night, which is beamed live on SuperSport around Africa, has exposed Nigerian boxers to foreign audiences and sparked demand for their talents. There is also the small matter of offering better remunerations to our boxers, including the N1.5 million cash prize for the best boxer at every event.
No such thing, to the best of my knowledge happens in South Africa, Kenya, Uganda or Ghana.
The fact that Nigeria is the biggest beneficiary of Multichoice’s pan Africaness via the internationalization of our local talent from actors like Aki and PawPaw to musicians like P Square and Flavor gets easily buried in our emotional response to any action that does not, on the surface, favor our total domination of the entertainment space.
Are we really justified to see ourselves as victims or blame MultiChoice for taking a decision evidently imposed by economics and desire to deliver top-notch production? I don’t think so.

Bajomo, a sociologist and businessman, writes from Abuja.

President Muhammadu Buhari is neither ill nor admitted in any hospital in London as being speculated, his spokesperson, Femi Adesina, said Thursday.
Adesina, who is Special Adviser to the President on Media and Publicity, said this in a live interview programme on CNBC Africa.
According to him, “The president is in London on vacation. He is not in any hospital and he is not ill.
“When he was travelling last week the statement we put out was that he was going on vacation and during the vacation he would do routine medical check-up and nothing has changed from what we put out last week.
“If anybody has fed something else into the rumour mill that is just what it is – rumour”.
On whether Buhari would talk to Nigerians while on vacation, Adesina said the president had the fundamental right to talk from anywhere or not.
“The fact that he is a president, he still has his rights. Compelling him to come out and talk will be infringing on his rights. The president will talk if he wishes to, and if he doesn’t wish to, nobody will compel him to talk.
“The truth is that the president is on vacation and he has given a date on which he will return to work,’’ the president’s spokesman maintained.

Some traders at Alaba International Market in Ojo Local government area of Lagos have been duped after a Diamond Bank Staff allegedly went to their various shops and obtained large sums of money under the false pretence of depositing it into their various accounts in the bank rather bolted.
While the total amount was yet to be ascertained because the victims were many and the amount runs into millions of naira, the suspect, Ayo Olaniyi has been arrested and charged before a Lagos court with fraud.

We gathered Olaniyi went to the market and introduced himself as the staff of the Bank and informed them that there was a policy by the bank to assist customers make easy savings in the bank.
This entailed that he will be going to shops and collect the monies they wanted to deposit in the bank on daily basis and pay into their account.
Our correspondent learnt the traders, who are now victims, were comfortable with the arrangement and besides, some of them confirmed with the bank branch at the market.
For few weeks, Olaniyi was collecting the monies and remitting to their various accounts on daily basis until on November 2016 when he decided to dupe them.
It was gathered that Olaniyi collected undisclosed amount running into millions under the false pretence of depositing it into the account as usual. Instead of paying, he ran away with the money and went into hiding.
When the traders waited to receive alert and they did not get any, they went to the bank to look for Olaniyi, only to discovered that he had escaped with their money.
The matter was reported to the Police who searched for Olaniyi to no avail until one of the victims, Ayo Johnbull ran into him, caught and handed him over to the police.
He was charged with obtaining and stealing under the Criminal code, while Johnbull was presented as complainant while other complainants, when show up will be listed and presented to the court.
He pleaded not guilty.
The presiding Magistrate, Mr M.A. Etti granted him bail in the sum of N100,000 with two sureties in like sum.
He was remanded in prison custody pending when the charge will be amended and he will fulfill his bail condition.
The matter was adjourned till 17 February 2017.

Information reaching us revealed how Delta state governor, Ifeanyi Arthur Okowa and his Principal Secretary, Hilary Ibegbulam, have recruited and concluded all plans to sponsor a mass protest against his predecessor, Dr. Emmanuel Eweta Uduaghan, the immediate past Secretary to the State Government (SSG), Comrade Ovuozorie Macaulay and former government officials who served under Uduaghan’s administration.
Investigations revealed that Okowa and Ibegbulam have printed over 3, 000 T-Shirts, posters and banners depicting former governor Uduaghan in bad light while arrangements of the protest is been coordinated by governor Okowa’s unofficial media aide and well known serial ‘Blackmailer/Extortionist, called Mister blogger…
In a press statement released and signed by governor Okowa’s unofficial media aide and serial ‘Blackmailer/Extortionist, Mister Blogger, the planned sponsored mass protest which shall attract other hired protesters from outside the shores of Nigeria will be carried out in no distance time.
According to the statement, “Patriots, 3000 T-shirts have been printed abroad with banners designed in USA for the day. Yours faithfully and the Nigerian team have gotten hold of 2000 T-shirts already sent from abroad. Press Briefing will take place at Ladi kwali Hall, Sheraton Hotel, Abuja with live coverage by a National Television. The protest to EFCC and Aso Rock will also be covered and stream live to everyone across the globe. Five TV stations including two international media have agreed to broadcast the event to the world. Nigeria major Online News Websites are not left out. It’s a day for the media as we hold the first of its kind”.
“There will be simultaneous protests across US, UK, Spain and Switzerland. Deltans should brace up for the mother of all protests that will take place at EFCC Headquarters, Abuja, Aso Rock and APC Headquarters as well as Delta State Government House and streets in the state. Deltans in Diaspora have bought their tickets to come home for the protest. Some Europeans and Americans who believe in our Anti-Corruption crusade are coming with them. There will also be protests to UK High Commission and American Embassy in Nigeria as well as Switzerland”, Okowa unofficial media aide stated.
Governor Okowa’s unofficial media aide had confided in some close associates of his that the governor and his Principal Secretary have budgeted over N300, 000 million to pursue the project.
It would be recalled that on resumption of office as Governor of Delta state, Okowa indicted former governor Uduaghan of plunging the state into a whopping debt profile of over N600 billion which later turned out to be lie and since then Okowa has allegedly vowed to bring down Uduaghan through all means.
It was gathered that the offence of former governor Uduaghan and others was the massive weight they threw behind another Peoples Democratic Party (PDP) candidate against him (Okowa) during the 2015 PDP governorship primaries.
A cross section of Deltans who are aware of Okowa’s planned sponsored mass protest using the well-known blackmailer, have condemned what they described as the blackmailing activities of Mister blogger on highly placed sons and daughters of the state and called on Okowa to as a matter of fact warn and call to order his sponsored “blackmailer and extortionist” and refrain from the unholy habit of tarnishing the good image of some respected and highly placed individuals in the state who have in one way or the other contributed their quota to the development and growth of the state and the nation at large.
In a press statement released by a group called ‘Delta State Political Forum’ signed by its National Coordinator, Chief Odima Afam Chukwu, the Secretary-General, Chief Ororo Dave Ogheneovo and the Publicity Secretary, Comrade Odume Val Odume and made available to media men in Asaba condemned in its entirety the planned sponsored protest against the former Chief Executive Officer of the state.
The group while warning Okowa to call to order his mad dog, noted “It is no longer news that, the Mister blogger …, was sometime in 2014 arrested by the operatives of Department of State Security (DSS) on the instructions of the former governor of Niger state, Babangida Aliyu whom he had travelled to blackmail far away in Minna and extorted from him a whopping sum of N50 million where luck ran against him and was arrested, paraded in the presence of both the print and electronic media and detained for several weeks before he was let off the hook through the assistance of Okowa who was then a member of the upper legislature.
“For how long shall we continue to fold our hands and watch this sponsored blackmailer destroy the good image of our sons and daughters all in the name of fighting corruption? Is Okowa and his Principal Secretary clean, are they saints? We have decided also that henceforth, we shall carry out an aggressive campaign of calumny against Okowa who is preparing for a second tenure and let’s see who will blinks first. We have prepared some petitions on this blackmailer to security agents within the state and Abuja let’s see how far he can run. He can run but cannot hide”, the statement adds.
A top government official serving in the cabinet of Okowa and victim of Mister blogger …’s blackmail, revealed how Okowa and his Principal Secretary have continued to sponsor the notorious blackmailer and extortionist, using his blackmail tool to blackmail and tarnish the image of former governor Uduaghan, former SSG, Macaulay and former government officials who served under Uduaghan’s administration as well as persons tagged enemies of Okowa.
According to the top government official, “In the midst of financial crunch, Okowa and Ibegbulem still pumped money running into millions of naira to …, lodged him in five star hotels in the state. About a year ago, Okowa singlehandedly sponsored …’s pregnant fiancee to abroad to deliver. Mr. Blogger is a known blackmailer and extortionist working for my boss and his Principal Secretary. Once you can bribe him with certain amount of money, he declares you untouchable and shower encomiums on you.
“We have seen where my boss, the governor and his Principal Secretary have released classified documents concerning the past Uduaghan administration to the Blogger which he has used to write series of petitions to relevant anti-graft agencies where a kill and divide deal was entered into between the Blogger and operatives of anti-graft agencies. Okowa’s grouse is that Uduaghan and some of his cabinet members fought against his governorship candidacy as a result he will continue to unleash the Blogger on Uduaghan and others.
“If you can still remember, because of the grouse, my boss, governor Okowa have to raise the alarm that Uduaghan, mercilessly looted the state treasury and left a debt profile of over N600 billion which later turned out to be a ruse…, is always afraid of only the dreaded people that he has attempted to blackmail and extort who have vowed to bury him alive should he try any nonsense with them…., will always spare you once you are ready to play ball but if you are not ready to play ball, he blackmails and tarnish your image you have taken your time to build for years.
“Former governor Uduaghan was the same person who singlehandedly assisted …’s sister In-law into the prestigious Access Bank Training School and she was eventually confirmed as a staff but because former governor Uduaghan has refused to pay a blackmailer (…), he has continued to dance to the tunes of his sponsors by continuous blackmailing and tarnishing the image of Uduaghan and others. No one is safe with a blackmailer, even his sponsors aren’t safe too but he forgot to know what his sponsors can do to him should he turn against them when his job is finished.
“It was the same Uduaghan who used his personal money and state funds and instruments to back rolled the 2015 governorship election of Okowa against all odds. Don’t forget also that Okowa has been in government in the state right from 1998 and he served as Secretary to the State Government under the first tenure of former governor Uduaghan before going to the senate. So, by implication, there is no way anyone will tag Uduaghan as a corrupt man without also mentioning Okowa too. You don’t throw stones when you are in a glass house”, the official noted.
In what looks like confirmation to his ill-gotten proceeds from blackmailing and extortion business, self-styled Mister blogger …, had boasted that, “I can proudly beat my chest that I have choice lands in some states, I can stand head tall to say that the cars I drive and properties I developed and still developing were acquired through my efforts”.
Meanwhile, it was reliably gathered that, the incessant blackmail of former governor Uduaghan and others is however not unconnected to the continued refusal of former governor Uduaghan to dance to the millions of naira bribe demands by Mister blogger…

As producers of concocted videos come under security surveillance

Consumers of Amstel Malta have restated their loyalty to the premium, low sugar formulated malt drink with international heritage from the stable of Nigerian Breweries.
In August last year, Amstel Malta launched credential campaign #WhyAddMore stating that consumers will do more good for themselves if they avoid adding more unnecessarily to what they presently have or enjoy.
The campaign also re-enforced Amstel Malta’s place as the Premium Malt Drink, with an original formulation that contains less sugar and is enriched with vitamins and minerals.
Shortly after the campaign, a picture went viral that a fake version of the Amstel Malta is in circulation. This was because the new packaging wore the new NIS logo while the old packaging had the old NIS logo of the Standard Organisation of Nigeria.
Soon after this, the Nigerian consumers were greeted with another offensive video of an Amstel Malta can drink allegedly containing a strange object. A faceless consumer recorded an alleged contaminated drink and circulated it on social media.
But consumers of the malt drink have denounced the concocted video and described the content as an embarrassment to logic and brand marketing.
Commenting online, Kunle Popoloa described the video as a scam from “the stable of negative minded people.” The same sentiment was shared by a Michael Ojo and Adetola Precious who described the video as misleading and damaging. Another consumer, Patience Moses described the content as “ugu water” and demanded a probe of the incident to bring the culprit to book.
Forensic and marketing analysts have also observed that it is very clear that the same source that initially created a video of a purported ‘fake ’ or ‘original’ but who could not sustain the fabrication is the source responsible for the current orchestration and poor dramatization of discovery of foreign content.
Analysts and observers agreed that this might be coming from the enemy’s camp as the recording left many gaps to cast a doubt on the genuineness of the video. For instance, the can was opened before the video recording, thus failing the basic test of validity.
Meanwhile, Nigerian Breweries has reported the defamation attempt to the security agencies for further investigation.
However, the Standard Organisation of Nigeria (SON), the statutory body that is vested with the responsibility of standardising and regulating the quality of all products in Nigeria, debunked the claims by a faceless video producer of a fake Amstel Malta in circulation.
Mr. Fred Akingbesote, Deputy Director, who represented the Director General of the organisation, explained to Journalists in Lagos that Nigerian Breweries have met all SON safety and quality requirements and have complied with all requirements of the new National Industrial Standard (NIS) logo.

Video entertainment provider, MultiChoice Nigeria, has explained its decision for filming the ongoing Big Brother Naija reality show in South Africa. A statement issued by the company said the decision was informed by the desire to deliver the same high quality production that its subscribers are accustomed to on its platforms.
“It is with this commitment in mind that a decision was taken to stage the show in the fully-equipped Big Brother House located in South Africa. This Big Brother property has been previously used to stage other successful and seamlessly-delivered Big Brother productions, including Big Brother Xtremo (for Angola and Mozambique) as well as all past Big Brother Africa series,” MultiChoice said in the statement.
The statement added that both MultiChoice and its customers are currently experiencing tough economic times, which have compelled the company, as a business, to review its operations so it can continue to deliver the best entertainment value without compromising on quality. “Staging the show in a Big Brother facility that already exists – and has been specially built for such purposes is not only cost-effective but has also allowed MultiChoice Nigeria to maintain the same excellent production values as with previous Big Brother editions whilst meeting tight timelines,” the company explained further.
The company assured that the ongoing Big Brother Nigeria is a proudly Nigerian show featuring Nigerians as housemates, in the production staff, as Biggie’s voice, all led by a Nigerian series director. It equally stated that the musical performances on the show, which runs for 11 weeks, also include some of Nigeria’s biggest and hottest stars.
“MultiChoice is a proud supporter and investor of local creative industries and currently has ongoing entertainment productions across the continent, including the much-loved Tinsel and upcoming AMVCAs which are filmed and produced in Nigeria and aired in several countries across Africa,” the statement concluded.

The Ekiti State Governor and Chairman of the Peoples Democratic Party (PDP) Governors’ Forum, Mr. Ayodele Fayose has cautioned the All Progressives Congress (APC) led federal government to be mindful of how it handles issues bordering on religion in the country so as not to throw the country into religious crisis. Condemning attempt by armed men of the Department of State Services (DSS) to arrest Apostle Johnson Suleiman of The Omega Fire Ministries Worldwide in Ado Ekiti, early today, he said it was a clear invitation to chaos.
Governor Fayose, who challenged the security agencies in the country, especially the DSS to tell Nigerians how many of the Fulani herdsmen that killed thousands of Nigerians across the country have been arrested, added that; “Nigerians, either Muslim or Christian deserve to be protected by the federal government, which controls all security apparatus in the country and the moment the federal government can no longer protect Nigerians from being killed by rampaging herdsmen, citizens of the country will have no option than to defend themselves.”
Speaking through his Special Assistant on Public Communications and New Media, Lere Olayinka, Governor Fayose, who lamented that the APC-led federal government was indirectly supporting attack on Christians and other Muslim sects, especially the Shi’ites, by looking the other way while they are attacked, called on the international community to intervene before Nigeria is thrown into major religious crisis.
Governor Fayose, who expressed surprise that a man of God was been trailed to be arrested by the men of DSS said, he expected the security peratives to invite him if they have any issue with him instead of arresting him in the dead of the night after a powerful and spirit-filled crusade in my State.
He said; “If the federal government had acted swiftly like it acted on Apostle Suleiman so-called inciting comments when people were being killed by herdsmen across the country, so many lives would have been saved.”
The governor described as strange, APC hatred for men of God, especially those seen as not on the same page with the party, saying; “It is on record that the APC in Ekiti State issued press statements and went on social media to disparage the Redeemed Christians Church of God (RCCG) Worldwide General Overseer, Pastor Enoch Adeboye just because he praised me when he came to Ekiti. And curiously, it was immediately Pastor Adeboye came to Ekiti State and praised me that he was forced to relinquish his position as the General Overseer of the RCCG.
“Apostle Johnson Suleiman openly condemned the killing of Nigerians across the country and went on to say that Christians should rise and defend themselves if the federal government, which controls all security apparatus will not defend them and the next thing that happened was the DSS moving swiftly to arrest him.
“Isn’t it ridiculous that instead of running after those herdsmen that have killed over 3,000 Nigerians in just one year, the DSS opted to arrest a man of God, who merely expressed his frustration on the inability of Nigeria to protect its citizens?
“Or who should be arrested between those killer herdsmen and Apostle Suleiman who merely expressed his readiness for self-defence and called on Christians to defend themselves if they are attacked by the herdsmen?
“We were all in this country when cattle breeders openly said over 1,000 Agatu people of Benue State were killed because over 10,000 cows were killed. We were also told that the Southern Kaduna genocide was as a result of killing of cows. Up till today, none of those cattle breeders have been arrested.”
The governor, who said there could also be plan to arrest the General Overseer of Living Faith Church Worldwide International (Winners’ Chapel International), Bishop David Oyedepo, warned security operatives against intimidation and arrest of men of God in the interest of peace and religious harmony in the country.
He called for the release of the head of Nigeria’s Islamic Movement (IMN), Ibrahim El-Zakzaky, who has been in detention since late 2015 despite that the court ruled that he should be released, saying; “I stand for Nigeria and its people, not for any religion and it is my position that rights of all Nigerians must be respected and
protected.”
The Governor said, “I personally attended his crusade and I think it is wrong for a man of God who is armless that could be invited if they have any issue against him. Are Christians and Moslems under different dispensation of the rule of law? That’s why I went there to rescue him. Let them kill two of us together. But when they saw my vehicles and the crowd, they fled.
Governor Fayose noted that it was unbecoming of the Federal Government to be harassing clergymen in the country, noting that the General Overseer of Redeemed Christian Church of God (RCCG) Pastor Enoch Adeboye was harassed and forced to resign shortly after he visited him in Ado Ekiti. He said, “This is unacceptable, we are in a democracy and Nigerians should warn the Presidency against putting this country on fire because religion is an emotional thing.”

Tony Elumelu, chairman of Transcorp Group and United Bank for Africa (UBA), says Nigeria’s power sector is a walking corpse, and it may collapse soon if no urgent action is taken.
“The agency of government that has responsibiity for making sure that this sector delivers on its potential is not doing well enough. We are owed a lot of money,” Elumelu told CNBC Africa.
“Transcorp Power Holdings is owed almost N50 billion. When we put in the invoice for this month, we should be owed almost N54 or N55 billion. How do you survive in business like this? How? Other GenCos I know are actually dying.
“We are struggling because of our diversified resource base, what of others? Something urgent and drastic must be done. It is as urgent as yesterday.
“The truth is Transcorp power, as a key operator in the sector, is struggling. And if we are struggling, you can imagine what others are going through.”
Elumelu went on to ask the government to allow it generate its own gas, adding that “where we are located, we are sitting on a lot of gas”.
He said the government started owing Transcorp when a dollar was N168, but may now pay back (in naira) when the dollar goes for 300 to N500, a massive depletion of value to shareholders.
“Now you put in an invoice and you get paid 15-20%. And they started owing us when the naira was N168 to the dollar. Today, it’s N300 officially and N500 on the black market to the dollar so imagine the depletion, the erosion of value to shareholders of Transcorp.
“Is that going to encourage more investment in the sector? How? We are all living on borrowed time.”
He said Transcorp was negotiating with GE to bring in turbines worth $500 million, but had to shelve the plan because the company could not secure the necessary foreign exchange for the deal.

REVIEW OF TARIFF IS DUE
“When we went to the invest in the power sector, price of the tariff was predicated on three factors, exchange rate, gas, and rate of inflation. The rate of inflation has moved from single digits to double digits,” Elumelu added.
“The dollar is now worth over N300, and there are problems with gas supply. Today, all three factors have changed but they are still paying us the same.
“On top of that, you’re owing us, and we all understand the time value of money. Transcorp power, you owe us about N50 billion. If you pay that money today, it would have more value.
“You’ve been owing us for years, and when we issue invoice, you would pay us about 20 percent of our invoice, so how do you survive in that market. So, indeed, the power sector is a walking corpse. It is a matter of time.”
Elumelu called on the government to prioritise the sector to save it from imminent collapse.

Centrespread Advertising has asked Justice A. M. Lawal of the Federal High Court, Lagos to commit Skye Bank Plc for contempt of court following the wrongful inclusion of its name on a list of delinquent borrowers published recently by Skye Bank in some national dailies.
According to the frontline advertising agency, Skye Bank’s latest action was in flagrant disobedience of a subsisting pronouncement of the Court made on 4 July 2016 in suit No: LD/2362GCMW/16 in which Centrespread is challenging Skye Bank’s claim of its continued indebtedness.
While addressing the court at the resumed hearing of the case on Tuesday, Counsel to Centrespread, Barrister Ademola Adewale, drew the attention of Honourable Justice Lawal to the Skye Bank’s List of Delinquent Borrowers as published in some national dailies last week.
He submitted that the inclusion of Centrespread Advertising on the list amounted to contempt of the honourable court which had directed both parties to maintain the status quo ante, pending the determination of the suit in which Centrespread is disputing Skye Bank’s claim of its continued indebtedness.
The Centrespread Counsel therefore asked the honourable court to declare Skye Bank Nigeria Plc’s wrongful publication of his client’s name as one of their delinquent offenders as a violation of the injunction by the honourable Court of law, and as an attempt to taint its reputable image in the eyes of the public.
In the Statement of Claim filed by Centrespread in suit No: LD/2362GCMW/16 before the honourable court, the Centrespread counsel had submitted that while it is true that a transaction was carried out between Centrespread Advertising Limited and Skye Bank Plc in 2007, his client had made good on the terms of the agreement to pay back the principal borrowed loan which, according to the terms of agreement, would expire in the year 2020.
He further averred that a few years ago, when Centrespread felt that it was being subjected to exorbitant charges by Skye Bank, it employed the services of forensic financial analysts who confirmed its concerns as true.
Centrespread is therefore praying the Court to, among other reliefs, declare Skye Bank’s claim that it still owes the total amount declared in its record as null and void since, according to it, a substantial part of the figure being touted as standing against its name has been discovered to be illegal charges.
Alternatively, the Claimant is also praying the honourable court to compel Skye Bank to release the claimant’s loan account statement and for the loan account statement to be analyzed by a forensic analyst to be appointed jointly by both parties for the determination of the Claimant’s actual indebtedness to the defendant.
Further hearing in the matter was adjourned till 16 March.

The Minister of Information and Culture, Alhaji Lai Mohammed, has directed the National Broadcasting Commission (NBC) to investigate the circumstances surrounding the reported shooting in South Africa of the ongoing Big Brother Nigeria Reality Show.
In a statement in Abuja on Tuesday, the Minister said the NBC should determine whether Multi-Choice, by shooting the show in South Africa, has breached the Nigerian Broadcasting Code in any way, as well as the issue of possible deceit, since the viewing public was never told that the event would be staged outside Nigeria.
“As a country of laws, only the outcome of the investigation will determine our next line of action,” he said.
Alhaji Mohammed said while concerned Nigerians have bombarded his office with calls to complain about what they regard as an anomaly (of shooting outside the country a show meant for Nigerians), they should remain calm while the NBC investigates the issue and submits its findings.