₦airaland Forum

After delivering Jonathan, we are back to the trenches- Oshiomhole
On April 22, 2011 · · In News

BY SIMON EBEGBULEM
AFTER delivering the votes of the people of Edo State to President Goodluck Jonathan of the Peoples Democratic Party, PDP, Governor Adams Oshiomhole has urged voters in the state not to regard the presidential election in the state won by President Jonathan as an abandonment of the broom.

He said that the broom revolution in the state will bounce back for the House of Assembly election holding on Tuesday, April 26.

The Governor who said the electorate in the state were sophisticated and “had shown that they can separate the man (President Jonathan) from the party, even when the umbrella is leaking.” He added that the people were, however, ready and willing to vote for the Action Congress of Nigeria, ACN in the state House of Assembly election because of the many developmental projects the ACN government had embarked on in just two years in the saddle.

Speaking at a rally in Benin City, yesterday, after flagging off the Phase 2 of Siluko Road construction project, the Governor said the broom revolution was back “so that people do not confuse our support for the President to mean we had abandoned the broom.”

According to him, “next Tuesday, we are re-arming ourselves with the broom and we shall sweep away the leaky umbrella from our land. From Edo South to Edo Central to Edo North, we will sweep PDP away from Edo State.”

The Governor who emphasised the importance of the state House of Assembly election, said, “this election is even more important to us than other elections, even the presidential election.” He maintained that people should vote for candidates of a party based on the antecedents of that party.

Why not northerners in SE withdraw from the SE?
Why not SWners in the North withdraw from the North?
Why not SWners in the East withdraw?
Why not SEners in the West withdraw?
Why not SS people in the SE, SW and North withdraw?
Why not SW people in SS withdraw?
Why not Northerners in SS withdraw?
Why not Nigerians abroad return?
Why not everyone go back to their own natural enclaves?

On the topic:

1. Can Aluko please list the number of registered voters in all the contentious states and compare same with number of actual voters? Does it show more voters  voted than were registered?

2. How does Aluko determine which election is more important to specific individuals. I may not vote in the senatorial election (because I am simply not interested) but decide to do so in the presidential one (because I am interested).

3. Which election is more important to voters: senatorial (local) or presidential (national)?

4. Can Aluko project that more SWners (for e.g.) will not come out to vote in the upcoming gubernatorial election than did in the presidential election? If that happens to be the case, how will he explain the upsurge of voters, compared to his insinuations in the case of the SE and SS?

oyewolejos:
I taught [/b]Soyinka got an Honorary PHD from Univeristy of Leeds. Am not sure tho

[b]I thought is the right word

Soyinka, like Achebe, does not have an academic PhD that is ordinarily the basis for a professorship. However, they are so good (in their field) that they are professors, a rank rendered to them by qualified university authorities.

Even today, a few qualified people do get to become professors without having obtained a PhD; but very, very few, mostly ''whizkids'' in their fields.

oyewolejos:
Since he his a Professor there is no need to add PHD to his name anymore as you can't be a Prof without PHD.
The Mods should please correct that

Actually, you can be a Prof without a PhD. Wole Soyinka and Chinua Achebe are examples. There are others e.gs too.

But dont mind the fake professor Aluko. He is a ''Nigerian Affairs'' professor who left his calling -Chemical Engineering -for ''Dawodu Engineering''. Someone who has not published any scientific article in more than a decade calls himself a prof. Only in Howard University will that happen. And this is the same person Jonathan recently appointed a VC to his Otuoke University? Let ND militants read this, they will decide what to do with him at Otuoke. If he feels this way, why accept an appointment from the same person? Hypocrites, as usual.

http://odili.net/news/source/2011/apr/20/609.html

2 Sisters arraigned for killing mother

Written by Tunde Oyekola, Osogbo
Wednesday, April 20, 2011

Two sisters of the same parents, Rasheedat Olasunkanmi and Taibat Olasunkanmi, have been arraigned before an Osogbo Magistrates' Court for allegedly killing their mother, Mrs Alimotu Olasunkanmi.



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Charged along with them was Aremu Oyebade, the husband of Rasheedat.

The three accused were alleged to have clubbed Mrs Olasunkanmi to death at her home, Number 12, Atelewo Street, Osogbo.

The prosecution alleged that the three accused conspired together to commit felony to wit murder by hitting the deceased with turning sticks and grinding stone at about 8.30 a.m on the fateful day.

According to the prosecutor, Sergent Suleiman Olorukooba, the three accused persons accused the woman of witchcraft, which they alleged, was responsible for their woes.

The offence, the prosecutor alleged, was contrary to and punishable under Section 316 (1) of the Criminal Code Cap 34 Volume 2 Laws of Osun State of Nigeria.

No plea was taken from the accused.

The trial Magistrate, Mr Olalekan Ijiyode, ordered that the accused be remanded at the federal prison, Ilesa, pending the time that they would be arraigned before an appropriate court that would try the case.

90% of them will be our SW brothers who like to do illegal visa and so travel illegally. Oluwole here I come.

Beaf:
What does this sort of thread hope to achieve?

Bros, stop trying to be politically correct 9I know you want to be in the middle). But you know the title of this thread is appropriate.

Voter Registration: Four More Immigrants Arrested

By James Sowole

03 Feb 2011

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Nigerian Police





A 26-years old Nigeriene national has been arrested by the Kwara State Command of the Nigerian Immigration Service (NIS) for allegedly being in possession of voters cards during the ongoing voter registration exercise in the state.



The arrest in Kwara came on a day the Ondo State Command of NIS said it has arrested three foreigners who registered in the current exercise. The Comptroller in charge of the command, Mr. Patrick Sessi, who disclosed the arrest of the suspects to journalists in Akure, however said the people of Ile-Oluji in Ileoluji/Oke-Igbo Local Government, prevented his men from arresting a Ghanaian lady , Rashidat Abass, from the community.



Sessi said the men, a Ghanaian, Ofori Attah; one John Bob who is a Togolese as well as one Daniel Segun from Republic of Benin had already registered and allocated voter cards before they were apprehended by the men of the command. He said the people were sighted in Ile-Oluji, Ondo town, Owo and Ese-Akoko.



It would be recalled that six of such nationals had earlier been arrested and deported in Kano state on Tuesday after they were picked by the officials of the State Command of the Immigration Service .



Comptroller of Immigration in Kwara State, Mr. Bode Opadiran, who spoke with newsmen in Ilorin yesterday on the voter registration exercise said the Nigerienne national, Abdul Mohammed, was caught at Zango area, Ilorin East Local Government area of the state “having registered and obtained a voter’s card with the intension of taking part in the forthcoming elections in the country.

According to him, “ It is illegal for foreigners to participate in the ongoing voter registration exercise because the Nigeria extant law does not permit them to do so”.



The Comptroller said the culprit’s action was being investigated and he would be subsequently prosecuted if found guilty.

His words: “To this effect, immigration personnel have been deployed to the field across the 16 local government areas of the state and the border axis between Nigeria and Benin and are working assiduously to fish out foreigners that attempt to run afoul of this law”.



He said “This is to inform the general public, stakeholders, leaders of community, citizens and all foreigners, especially Economic

Community of West African States (ECOWAS) citizens and all African nationals residing across the length and breadth of Kwara state that they are not eligible to partake in the ongoing voters’ registration exercise or any electoral activity for that matter” He however said “The Constitution of the Federal Republic of Nigeria as it relates to immigration and citizenship laws forbid their participation and involvement. This also serves to warn foreigners and their Nigerian collaborators that they should desist from taking part

in the ongoing registration exercise."

Buhari Has No Reason to Complain, Says Orji

By Emmanuel Ugwu

20 Apr 2011

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Governor Theodore Orji of Abia State


Abia State Governor, Chief Theodore Orji Tuesday faulted the presidential candidate of the Congress for Progressive Change (CPC), Muhammadu Buhari, for disputing the impressive performance of President Goodluck Jonathan in the South East and South South geopolitical zones, saying Buhari has no reason to complain over a promise fulfilled.

Speaking with newsmen at Umuahia following the official declaration of Jonathan as the winner of the 2011 presidential election, the Governor deflated the allegations of fraud in the massive votes that the PDP presidential candidate got in the two zones, saying that Buhari and his CPC should live with the fact of their failure.

He described the massive support President Jonathan enjoyed in the South East as a mark of solidarity by the people, pointing out that the governors of the five states of the South East had earlier declared that the zone was not putting up anybody for the presidential race having adopted Jonathan as the candidate of Ndigbo.


Orji noted that out of all the candidates in the presidential race only Jonathan visited all the states in the South East and campaigned vigorously everywhere he went whereas other presidential candidates never bothered to campaign  in  the South East state. [b]He further added that South East governors went to Lagos with Mr. President and persuaded millions of Ndigbo resident in Lagos to vote for Jonathan.[/b]The Abia chief executive also reacted to the attendant violent protests in some northern states after the presidential poll result was declared, urging all the Northern leaders to control the miscreants unleashing may hem on innocent citizens in order to forestall reprisal attack in other parts of the country.

N170b Otedola debt to five banks puts future debtors at risk
By Kingsley Ighomwenghian, Finance Editor



• Laoye Jaiyeola, President, Chartered Institute of Bankers • Otedola



Several months after he is believed to have reached an amicable settlement with Access Bank over his $35,153,822.15 outstanding debt owed along with his companies, Femi Otedola, businessman and President, Zenon Oil & Gas, among others, may have returned to the trenches with his former friends- bank chief executives.

While Otedola’s celebrated faceoff with Access Bank in 2009 was over the exchange rate used in computing his indebtedness, the chairman of African Petroleum Plc, is now battling to save his prime assets particularly in Lagos, Abuja and Port-Harcourt from being taken over.

Going by the writ of summons in the Lagos Division of the Federal High Court (suit No. FHC/L/446/2011) between Zenon Petroleum & Gas and five banks- Access Bank, First City Monument, Guaranty Trust, United Bank for Africa and Zenith, the plaintiff accused the defendants of wrongfully computing its debt (principal and interest) to N169.953 billion or $1.133 billion as of December 31, 2010.

A breakdown of the sum puts his debt to Zenith Bank at N68.109 billion; UBA, N36.862 billion; GTBank, N30.732 billion; FCMB, N18.722 billion; and Access Bank, N15.526 billion in both principal and accrued interest over the period. The five-paged writ of April 12, 2011, is believed to have been triggered by the Mareva Injunction obtained by Access Bank.

Although it is not known for how long the debt has accumulated, the books of most of the banks are believed to have taken serious bashing as a result of heavy provisions arising from their exposure to debts like this, with significant impact on the profitability of some of them.

Central Bank of Nigeria (CBN) prudential guidelines stipulate that any debt that remains non-performing (with interest/ or principal outstanding) for a period of between 90 days and 180 days is classified substandard and requires 10 per cent provision. When the situation subsist for between 181 and 360 days, the loan becomes doubtful and the bank expected to provide for it 50 per cent. When there is no change in status beyond 360 days, the regulation requires the affected bank to consider the loan as lost and make full 100 per cent provision. The classification and datelines however varies for some specialized industries like agriculture, mortgage, margin, project finance, income producing real estate and SME loans, among others, which may not necessarily have short-term gestation periods.

According to one industry source at the weekend, although there is no dispute about whether Zenon obtained loans from all five banks, following which there is a dispute over the interest element, “there has been no concrete attempt to pay back the undisputed portion.”

Pledged primarily for the loans to the various banks are prime landed properties, while shares were used as secondary collaterals such as: 159.395 million units, 67.053 million units and 36.4 million shares of AP Plc to Zenith Bank, FCMB and UBA respectively. Zenon and Otedola also pledged 1.441 billion units of Zenith Bank shares to the bank, in addition to 24.813 million units of MRS Oil, and 14.163 million shares of Mobil Oil; 1.85 million units of Zenith also to UBA; and another 1.775 million units of MRS to FCMB.

Assets pledged for the loans are estimated at about N70 billion, out of which the shares listed above is worth about N30.963 billion, going by closing prices on the Nigerian Stock Exchange (NSE) at the close of trading on Friday, April 15, 2011.

According to the writ, “the Plaintiff states that its Statement of Account with the respective Defendants contains various illegal and wrongful deductions. The plaintiff shall at trial rely on a bundle of banks statements from the defendants’ banks, (arguing further) that all charges, debits and deductions to its accounts by defendants are not in line with CBN regulations.”

Zenon in the statement of claim noted that the indebtedness is that high because of illegal and excess bank charges inclusive of interest debited to its accounts by the banks.

The plaintiff therefore prayed the court to declare the said indebtedness “incorrect, inaccurate and not in accordance with the prevailing contract between the parties,” besides seeking a declaration that he is “entitled to a refund and full recovery of all excess charges and 100 per cent penalty from the defendants together with interest thereon arising from the management of the Plaintiff’s account by the Defendants in contravention of the Monetary Credit, Foreign Trade and Exchange Policy No. 37 of January, 2006 and all subsequent monetary Guidelines of CBN in that regards.”

Otedola also wants the court to order the appointment of a firm of accountants/auditor to work on the accounts to determine the true level of indebtedness to the various banks.

This is in addition to seeking “an Order of perpetual injunction restraining the defendants, their privies, agents, servants, assigns or whosoever from dealing with, disposing of, selling and/or transferring any of the plaintiff’s physical assets or stocks pledged, mortgaged, issued and/or deposited by the plaintiff to the defendants as security for the facilities granted.”


CBN’s worry

Reacting to the growing spate of bank/customer dispute over indebtedness, some weeks ago, the CBN expressed deep concerns over the media war between banks and their estranged customers, especially as it relates to failure to meet maturing obligations and other contract terms.

Kingsley Moghalu, Deputy Governor, Financial System Stability of the CBN, assured journalists in Lagos some weeks ago that the apex bank will take steps, working in concert with the security agencies to check the menace of borrowers who go about harassing creditor-banks.

He was reacting to media reports earlier in the week that bank chiefs are lamenting the fast returning trend of debtors who rather than negotiate their facilities, resort to smear campaigns to blackmail bank managements.

“The CBN is not folding its hands about these types of things. Going forward we are going to be taking every steps together with the law enforcement authority to help protect banks from the menace of harassing borrowers. It is a very appalling situation, but we are doing something about it together with the law enforcement agents,” Moghalu assured.

In a chat recently, a top industry source who crave anonymity lamented that “the impact of the actions of debtors presents real challenges not only to the perception of the banking industry but the economy at large. Under the new dispensation with AMCON, we may have to simply transfer these debts to AMCON (Asset Management Corporation of Nigeria) and have them handle the cases as intended by the CBN. What the bad debtor then achieves is that a bank loan which ordinarily should be a short-term facility then becomes a medium to long-term instrument when it is sold to AMCON. As you know, AMCON would be interested in ensuring that the bad loan is restructured thereby elongating its lifespan and giving the debtor more time to pay up.”


Conclusion

The unwillingness to pay is seen as a major problem as seen in the failure to the unpaid principal, which is the undisputed portion of the debt, with serious implications for the industry. At risk are the huge depositors’ funds from which the loans were made, and the income that would have been earned from the loans, that the banks would made a profit for the benefit of stakeholders like taxes to government, payments to contractors, consultants and then dividend to shareholders.

This, according to industry watchers, is indeed dangerous for the nation’s financial system, which urgently needs to break away from the past. The problem, the argument goes, for example, is that banks could become discouraged and begin to deny some other genuine entrepreneurs and critical sectors the much needed lifeline to remain in business.

“When this happens, economic growth can become stifled, destroying entrepreneurial spirit that is now being unleashed on the country today,” another source explained.

In its rejoinder to the publication by Access Bank in national dailies, Zenon Petroleum accused the bank of festering the dispute, due to its recalcitrant and unprofessional attitude, as a result of which attempts to agree on a true and realistic account balance to enable it redeem the obligations, had been futile.

“Zenon Petroleum and Gas Limited, as a responsible corporate organisation, remain committed to its financial obligations.”

Our correspondent learnt however that, on the contrary, the plaintiff exhausted various means to avoid payments – delayed responses, scuttled agreements, disputed charges and the resort to deploying the ‘mischievous tactic of using the media to embarrass and impugn the reputation of banks and their principals; some debtors are not letting up.

Our correspondent could not ascertain as at press time whether any former report on the issue has been made to the Chartered Institute of Bankers of Nigeria (CIBN), but already, a pip into the financials so far published by various banks reveal their reluctance to grant new credits, a fundamental element of the business. While Skye Bank has so far reported the highest growth of 20 per cent in loans and advances in 2010, compared to previous year, Access Bank followed with 12 per cent. They were trailed from afar by First Bank with 5.5 per cent; Zenith, 2.0 per cent; and UBA, 1.3 per cent.

There is a consensus on the critical need to encourage banks to continue playing their roles of deposit mobilisation, credit creation and extension. But first, the system, and indeed, stakeholders must encourage them to do so. This is besides the need to ensure that all structures like credit bureaux are in place and strengthened to ensure that recalcitrant debtors do not continue to feast on the inadequacies of the society and its laws.

In the same vein, the CPC governorship candidate in Abia State, Ako Atuluma, has described the crisis as uncalled for.

He disclosed that the CPC Presidential candidate,[b] Muhammed Buhari, refused to come to the state to campaign in spite of many appeals and should not be surprised at the low vote the party garnered.[/b]Atuluma said the crisis should be nipped in the bud with dispatch, adding however that he does not see the event affecting his own chances of winning the governorship election scheduled for April 26, saying that his support base was still intact.

http://www.independentngonline.com/DailyIndependent/Article.aspx?id=32415

Poster:

In the video in your link, the CNN reporter disclosed that he witnessed muslims cleric handing out papers saying muslims should not vote for non-muslims, yet some stupid Yoruba christians have the mouth to talk thrash about the SS and SE.

Is the victim an Igbo or Yoruba corper? I hope the latter is the case or else

OPC is only bluffing. They will run to Igbo agala at the sound of the word Hausa. Cowards

Yoruba are now persona non grata. What an overnight fall from grace to grass.

Rhino.5dm:
^shut your dirty stinking mouth!
How dare you spesk of us like that?

Before settling all this mess, we are taking back alaba. No standing down, expect the fights from both angle. Punk

once and for all, the '65% of igbos of lagos' must come out and fight.

Your so called 'ikenga's pride' is been despoil by half fed, semi literate 'Aboki', And all you could muster is to abuse the most educated region? Una no get shame?

I tink say na una get 45% of Kano, fight the mallams nah.

What a shame!

Do not try what you cannot finish. Like the North do to you, we wil beat you even in your land.

Igbo kwenu
In Lagos, instead of running, the Hausa kill the Yoruba in Yorubaland. That is the difference between Igbo and Yoruba

Hhahaha! These Yoruba guys are purging. They need to visit the toilet. How can one be proud of treachery and backstabbing? Only in Odualand

henry101:
By Njuwa Maina and Joe Bavier
Reuters

Security analysts said they believed the curfews and a show of military force in the north should contain the violence for now but feared that governorship elections in the 36 states in a week's time could become another flashpoint.

"No way will I vote and other people here won't because these next elections will be very cruel," said[b] Femi Eseyin[/b], a football coach whose brother died in the violence.

"We've had enough elections now."

That is an Igbo man, yes?

Those whom their leader is a thief are also thieves.

Βουκέφαλος:
I spit on this thread

And thread spits back at you.

Lol
Lagos state of family affairs. See people who claim to be shofistikated.

Land of rapists
Obj raped
Awo raped
Now an Oba is raping.
O jigbi jigbi jigbi

Jonathan sacks incompetent Igbo man, replaces him with a competent Igbo man. End of story

kasiem:
One thing unique about this election is that it exposed many things in nigeria. In the north it made open the secret behind the northerns bogus population, in the west it exposed that their stance as political bats, in the east it exposed that undying love igbos harbored for their prodigal brothers. It went ahead in exposing Ribadu as an amenable stooge and buhari as a desperate illiterate who woul seek for power at the expense of people's blood. Bakare was exposed as boko haram pastor

Good observation. Thanks.

Just Curious: What will Ribadu, Buhari and GEJ be thinking about the SW now?
Ribadu and Buhari were dumped (at the last minutes, I must add)
GEJ was avoided
All by the same set of people.

^^^
With you, Tinubu, as Yoruba leader, your tribe is finished. Bloody treacherous tribalists.

Tell me your leader (Tinubu) and I will tell you whom you are

What is OPC fretting about? I thought Swners are safe in the North? Why do SWners speak from both sides of their mouths, always?

abadaba:
It doesn't matter. N body celebrates failures except you pig.

Lol!!! The way they celebrated Tafa Balogun and Bode George. Bunch of thieves and thief supporters.