Posted by 9jabook.com on November 4, 2009 at 9:44pm
The father of the former governor of the central bank of Nigeria, Charles Chukwuma Soludo has been released by his kidnappers. In a text message, the overjoyed former czar of the apex bank said “my father has
been released and asked all to join him in thanking God.
Hear him:
“To God be the glory, my father has just been released by the kidnappers! We are emboldened by this experience to dedicate our life to the service of our fatherland and to find lasting solution to the kidnapping problem. Those who sought to break our will must be told that the wind of change in Anambra is unstoppable. Please join us in thanking God". Soludo
The new phase were kidnappers have turned into grandpanappers might continue as elections draw closer .
More to come!
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From Sex for Money
To Babies for Money Our Desperation has come a long wayIt may sound incredible, but it is true. Many Nigerian ladies now bear children for men just for a fee. They are all over town, in Lagos and other parts of the country, looking for men to conceive for, not as wives but simply for commercial purposes. And once they are delivered of the babies, they hand same over to their ‘customers’ and move on.
It seems that with the nation’s economy teetering on the precipice and millions of Nigerians experiencing excruciating hardship, as a result of the global financial meltdown, some of the citizens are, characteristically, adopting survival strategies with a touch of ingenious creativity. In this case, women are giving good accounts of themselves in the game of survival.
our investigation revealed that the pregnancy-for-money has become a lucrative business, to the extent that many Nigerian ladies find it attractive. The men they bear children for may not be acquaintances or people they know. The bottom-line is the money involved. Conception could be through artificial insemination or sexual intercourse. To play the role, the ladies charge between N150, 000 and N200, 000. This sum, however, does not include antenatal bills.
While investigating the story, our undercover reporter got six young ladies to have babies for him for a fee. One of them, who claim to be carrying a three-month pregnancy currently, agreed to hand over the baby to him whenever it was delivered.
Agnes, as she identified herself, was not keen to disclose the source of her pregnancy. When asked who was responsible for the pregnancy she wants to sell, she retorted: “How I got pregnant is not the issue. If you want the baby, I will give it to you when I deliver and you pay me. That’s all.”
Indeed, getting the pregnancy-for-fee ladies is like a piece of cake. As soon as we broached the idea to one Miss Joy (surname withheld), a 25-year-old factory worker, she had no objection. To her, it was a familiar path. It seemed that she had done it before and was not averse to doing it again. And it was the Delta State indigene, who later introduced three of her friends or acquaintances who are also in the business.
After gaining Joy’s confidence, the reporter told her that he knew some childless couples who were also interested in such a deal. She thought about the proposal briefly and said she would arrange it if adequately motivated. In her words: “Na your money go waka for you.”
Joy charged a consultancy fee of N5, 000 and got to work. Within 48 hours, she got other ladies who would join her in the deal. She actually told the reporter that she could arrange as many of such ladies as there are clients because, according to her, it was a common practice among girls in Mushin and Ajegunle areas of Lagos, where she resides with her aged parents and siblings. She said she has connection with other ladies outside as was reported a few months ago. Her asking price was N300, 000 to give up the baby boy.
One of the commercial mothers, Tonia, said: “If any guy wants me to have a child for him, I will consider it if he can pay me up to N200, 000. He will also pay my medical bills. He will pay the agreed sum in three instalments: He will pay me the first one when I take in; the second will be when the pregnancy is about six months old while the final payment will be after delivery. We can be making love from time to time until full term.”
Another “baby factory”, who gave her name as Sonia, 26, said she could accept N130, 000 but that the man would handle her upkeep until she puts to bed.
Busty and lively, she said she wouldn’t mind living with the man from about the fourth month of the pregnancy so that the man would continue sleeping with her, as couple do. However, unlike Tonia, she would collect half of the agreed sum shortly after she becomes pregnant and the other half when she puts to bed.
On her own part, Becky, who hails from Edo State, said that she would accept to render such service if the man would pay N100, 000, provide her accommodation as well as foot her other bills until she is delivered of the baby. She said the man has to take care of her as his wife during the period of the pregnancy.
Another lady in the business, who simply identified herself as Patience, an indigene of Cross River State, said: “When we agree and the man gives me belle, I go tell my senior sister that I want to travel. Then the man will give me where to stay until I born am.”
She said her pay-off was a lump sum of N150, 000, which she intends to use to start a business.
While all the ladies said they were ready to go for tests before the consummation of the deals, they pledged not to relinquish the custody rights over the babies they are rented to bear once money exchanged hands
Originally sent in By Eddy Etuk thanks Eddy ! Re Edited/Rewritten from Sun Magazine by Noelene Joshua (Webmadam 9jabook.com)
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Posted by Jane Okinedo on October 24, 2009 at 1:30am
ABOUT 58 Nigerians were yesterday morning deported from Dublin, Republic of Ireland.ADVERTISEMENTThe deportees arrived at the Murtala Muhammed International Airport, Lagos aboard an Air Italy chartered flight with registration number 1924.Italian law enforcement agents accompanied the deportees on board the aircraft, which landed at the airport at 05.25 hours.Immigration sources said of the 58 deportees, 28 were males while 12 were women. The rest were children.The deportees allegedly committed immigration offences in the foreign country.Most of them were let go by Nigerian law enforcement agents, who received them at the airport, as they were not found guilty of any offence.Over 3,000 Nigerians have been deported from various countries in the last three months.Yesterday's deportation came a few days after 734 Nigerians were returned from Libya by the Muammar Gaddafi-led government.On September 27, 2009, Libya deported 150 Nigerians all males aboard aircraft with registration number SUBME.
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Posted by 9jabook.com on October 9, 2009 at 2:44am
He pursued the girl with lunatic passion, but she rebuffed his advances, until he succeeded in defiling her. But even this was not enough for Chinwikpe Ikezie. he made good his threat to kill the girl’s mother, her opposition to his advances. Abiola Azeez reports the gripping tale of a love intention gone wild.0
Was it a case of love gone sour or that of a professed love to one’s heartthrob being turned down or truncated by forces more powerful? No matter the deductions one makes out of the story, the deed has been done, and the deceased has been left for the bereaved to bury.
Okwoyi Isieke Ibeku is a rural village in Umuahia North local government area of Abia State. The usually peaceful community,which is just about three kilometres away from the heart of the state capital, was thrown into mourning, anger, and confusion on Wednesday evening, when the news filtered into the community that a 17 year-old young man had murdered a 35 year old mother in a cassava farm.
Members of the community, particularly the leadership of the youth, gathered and formed a search party. They went after the alleged killer, going from one neighbouring village to another, apparently to deny the murderer any form of escape and to hand him over to law enforcement agents.
Their efforts paid off after much exertion of energy; the alleged murderer, Chinwikpe Okezie, who allegedly committed the heinous crime at about 5 p.m., was tracked down at about 3 a.m. the next day at a bush path in the neighbouring village.
It was discovered that he had his own network of informants to help him immediately he fled the community after committing the dastardly act.
Investigations conducted by FeaturesXtra revealed that Chinwikpe regularly visits Okwoyi Isieke Ibeku, which is his maternal community, where he had lived with his mother in Okwoyi Isieke Ibeku, since the mother was thrown out of her husband’s house unceremoniously.
Another version to the personality of the Chinwikpes had it that his mother had no clear cut means of livelihood and was also a trouble maker in the community.
This, members of the community said, made her husband to wake up one morning and engage the services a truck driver, who helped him to pack her belongings back to her community in the full glare of everyone present at the market square of the village. Her bride price was not paid.
Members of the community, in separate interviews, said that Chinwikpe had, about two years ago, used a cutlass to cut the hand of one of his older kinsmen during a fight. Also, no member of the community could confirm his source of livelihood.
While some said he never attended school, others said he was a drop out, while some others said he was available for any casual labour since he was not known to be on apprenticeship with anyone.
Speaking with FeaturesXtra, a former youth leader of the community, Mr. Ibeabuchi Abarikwu, said the deceased, Chikamnayo Nwakaaku Young (nee Ikpo), aged 35, was a native of Okwoyi Isieke Ibeku in the Umuahia North Local government area of the state, but was married to one Abel Young, an indigene of Amankwu Amiibo in Ubakala community of Umuahia South local government area of the state.
Abarikwu said the couple got separated when the man could not complete the payment of brideprice on Chikamnayo, a development which he said made her to take her children along with her to her father’s house.
”Chikamnayo is a peasant farmer. She had gone to her farm in the morning of the day of the incident. Earlier, before the day of the incident, her assailant, Chinwikpe, had been threatening her, and telling people that he would kill the woman.
“Chinwikpe’s mother is from Okwoyi Isieke Ibeku, just like the deceased. Interestingly, no other girl in the community caught Chinwikpe’s admiration and love except the deceased’s daughter, Chinagorom Young, aged 17. He was trying to befriend the daughter of the deceased, which the deceased vehemently opposed, saying that her daughter is a blood sister to the boy.
She said they couldn’t have any love relationship. Many people are aware of how the girl in question had rejected the advances of the boy on many occasions, yet he continued to trouble the girl.
“Their neighbours even said that the boy had succeeded in raping the girl once, saying their houses are close to one another. So, because the mother refused to consent to their relationship, the boy vowed that he would kill the deceased and also rubbish the girl.
“The deceased had made several complaints to elders of the community, among other people, yet no action was taken, not even calling the boy to order.
“On Wednesday morning, Chikamnayo went to her farm. However, one of her friends in the community, who had a funny feeling, a sense of an impending danger, about her friend, went to her house to warn her about the ominous feeling she had about her. But the woman only met her children, who told their mother’s friend that their mother had gone to the farm.
She, therefore, traced her to the farm, where she met her and told her about the feeling of danger she was having. She succeeded in persuading the deceased to come back to the village with her.
“As fate would have it, the children had nothing to eat at home and the deceased decided to go back to her farm in the evening, at about 5 p.m., to get some vegetables needed to cook a meal for her children. People said immediately she left, they saw Chinwikpe trailing the deceased to the farm.
“When we saw her corpse, already battered by machete cuts in the chest and back, with her face lying on the ground, we learnt that the boy was still lurking around the vicinity. Thus, we alerted everyone in the community.
We also raised a search party. Do you know that it was not until 3 a.m. on Thursday that we eventually caught the boy in a neighbouring community? We then handed him over to the police. The police have since commenced investigations into the matter.”
Asked what he knew of the boy previously, Ibeabuchi said:“Two years ago, when I was the youth leader in the community, Chinwikpe’s elder brother used a machete to cut the arm of one of his elder kinsmen in the community. Then, I warned his people that he should not come back to the community after the incident”, he said.
Describing how they tracked the suspect down in the dead of the night, the youth leader said, “It was a tough experience. When we got the information that he was still hanging around in the area after committing the crime, we mobilised all the youth in the area and searched the community.
We immediately went from Ukome to other neighbouring villages. We also gathered that some people were communicating to him through GSM phones about our journey, which we made with a car, and particularly about my personal involvement in the effort to get him. At a point, we would see him, but he would quickly hide inside the bush on seeing the head lamp of the car we were using to track him.
So, at a point, I advised that we should park the car and go on foot. We then mobilised all the neighbouring communities. Again, he saw us and tried to take cover in the bush. As he was scampering out of the bush at Isieke, we caught him and handed him over to the police.”
Meanwhile, a new twist was added to the story as some sympathisers of the alleged murderer insisted that Chiwinkpe was a friend to the deceased’s daughter and that she even had an issue for the alleged murderer. Speaking on this twist, a native of the village, who wanted to remain anonymous, denied such a story, describing it as a figment of the peddlers’ imagination.
“They were not friends at all. The deceased’s daughter told me that the guy had made several attempts to befriend her, while the girl said she shouted ‘obara Jesus’, meaning blood of Jesus. The guy knows what that means. Yet he continued to pester her. The guy succeeded in raping the girl; the whole village can testify to this. Because of the incident, the girl cried out to the whole community. If they were friends, there would not have been such an alarm.
“Because of this incident, the deceased did not hide the matter but cried out to the whole community over the sacrilegious occurence. The deceased even contacted the guy’s mother with the hope that his mother would caution him. But due to the way the guy was brought up, he never listened to his mother, as his mind was already made up. The elders were still looking into the matter until the killing of the deceased.
If he was innocent or ignorant of what he did, he would not have run away. When he was eventually caught in the bush, he never argued about his offence. He never uttered a word. There was a feeling of disgust and shock because the village saw it as a sacrilege for a boy to have killed someone in his maternal home.
Meanwhile, the Nigerian Tribune gathered that the case is being handled by the state Criminal Investigations Department (CID), Umuahia, while the village called on the police to look carefully into the case. They said the boy should not be allowed bail and that he should face the consequences of his action.
“Our community is a law-abiding one. We could have meted out justice to him the night we caught him, but we decided to hand him over to the police immediately. We believe in the police and the court of law. Justice must take its full course. Such a thing has never happened in our place before”, he said.
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Highlight: As The Age reports today, federal police are investigating whether Securency bribed Nigerian officials to win a bank-note contract. The probe centres on a series of multi-million-dollar payments made by the company into an offshore tax haven account of two
UK-based businessmen, Benoy Berry and Mike Harding, who boast high-level political connections in Britain and Africa. The men were paid to help Securency win a 2006 contract from the Central Bank of Nigeria to print its polymer notes.
An Age investigation unearthed evidence the firm paid millions into a tax haven bank account belonging to Dr Berry, while an overseas-based source claims Securency paid $1 million into accounts tied to two companies overseen by Mr Harding. Our investigation also found that Mr Harding directs some of his companies' earnings into a tax-free business zone at Sharjah airport in the United Arab Emirates.
The RBA declined to answer questions about Securency's activities in Nigeria, in the same way it kept mum last month when Securency's Africa manager, Peter Chapman, resigned and the company's convicted South African middleman, Donald McArthur, was sacked. The sacking took place only after The Age revealed McArthur had pleaded guilty last year to reckless trading involving fraudulent transactions. Again, the details of Securency's engagement with McArthur raise questions of the RBA
Complete Story:
For obvious reasons Australians are entitled to expect their central bank to comply with the highest standards of probity, transparency and good governance. This includes an assumption that the Reserve Bank, as chief custodian of the nation's financial system, would apply proper scrutiny to the activities of its subsidiary companies, especially when those companies seek contracts, however lucrative, in corruption-riddled parts of the world.
And yet as The Age continues to expose a worrying trail of dubious deals struck by the RBA's half-owned subsidiary Securency, the Reserve has maintained a somewhat undignified silence on the subject. We acknowledge the RBA acted properly in initiating a federal police probe - and KPMG audit - into commission payments made by Securency to politically connected foreign middlemen. We would not expect the RBA to say anything that cuts across those inquiries.
But the silence is beginning to smell like an unwillingness to face facts and to act on them. Securency's operations, namely the engaging of middlemen with shady pasts and the payment of commissions into offshore tax haven accounts (contrary to RBA rules) and the curious size of those commissions, raise serious questions about the extent of the RBA's knowledge and the quality of its oversight.
At the very least, we deserve some kind of explanation about why, in the Reserve's recent annual report, governor Glenn Stevens expressed confidence in the way the bank had supervised Securency's activities. The bank has effectively opened the door on its own probity through this extraordinary assertion.
The Reserve's failure to stand down officials within Securency while the company remains under investigation - a convention of good governance - is also mystifying.
Nigeria:
As The Age reports today, federal police are investigating whether Securency bribed Nigerian officials to win a bank-note contract. The probe centres on a series of multi-million-dollar payments made by the company into an offshore tax haven account of two
UK-based businessmen, Benoy Berry and Mike Harding, who boast high-level political connections in Britain and Africa. The men were paid to help Securency win a 2006 contract from the Central Bank of Nigeria to print its polymer notes.
An Age investigation unearthed evidence the firm paid millions into a tax haven bank account belonging to Dr Berry, while an overseas-based source claims Securency paid $1 million into accounts tied to two companies overseen by Mr Harding. Our investigation also found that Mr Harding directs some of his companies' earnings into a tax-free business zone at Sharjah airport in the United Arab Emirates.
The RBA declined to answer questions about Securency's activities in Nigeria, in the same way it kept mum last month when Securency's Africa manager, Peter Chapman, resigned and the company's convicted South African middleman, Donald McArthur, was sacked. The sacking took place only after The Age revealed McArthur had pleaded guilty last year to reckless trading involving fraudulent transactions. Again, the details of Securency's engagement with McArthur raise questions of the RBA.
And there's more. Why did Securency in 2003 engage an arms dealer linked to the supply of weapons to Latin American drug gangs to help it win a bank-note printing deal in Paraguay? Why did Securency discuss its bank-note technology with Sudanese central bank officials last year? Doing business with Sudan would not violate Australia's international obligations under the UN sanctions regime, but should an RBA subsidiary even be talking to a country backlisted by the US for supporting terrorism and ranked among the world's most corrupt by Transparency International?
And, while we're at it, why did the RBA pay $500,000 to a self-styled ''white witch'' to oversee an ultimately disastrous workplace overhaul at the fully owned Note Printing Australia, Securency's sister company? On the other hand, perhaps a consultant with special powers may have helped Securency's officials better appreciate the risks of using agents in corruption-prone countries.
Government agencies and departments must also account for their knowledge of Securency's activities, and their action, or inaction, as a result. But first, we wait for our bank to speak.
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Posted by 9jabook.com on August 13, 2009 at 8:24pm
How Aliko Dangote blackmailed, bribed his way to NSE Presidency !
Aliko Dangote aka Chemical Ali
Now, the die is cast. Nigerian investors' fears over the emergence of Aliko Dangote a Nigerian Stock Exchange (NSE)
Council President seems to have triggered a race to the bottom as more savvy institutional investors are re-
channeling their funds to the ’safety’ of government securities, treasury bonds and real estate.
It was intrigues and maneuver galore marked by intimidation, blackmail and shady financial dealings that eventually
saw billionaire business magnate, Alhaji Aliko Dangote emerge as the 17th president of the Council of Nigerian
Stock Exchange (NSE) through what was said to have been a unanimous voice vote.
But when a man with a big question mark hanging over his morally-deficient, corruption-bedecked neck is chaperoned
to the topflight throne, it will take the greatest miracle after the resurrection of Jesus Christ to get the NSE
back on track. The fact that Dangote; a prime suspect in the share manipulation scam involving African Petroleum
(AP) Plc stock prices of Femi Otedola is now the man who will be calling the shots at the NSE, proves, in the words
of an NSE source that: “Nigeria’s capacity to shock and scandalize is infinite.”
Huhuonline.com has learnt that Dangote arm-twisted and bribed his way to the NSE presidency, dishing out as much as N3 million to each NSE Council members who subsequently “elected” him by acclamation. Also nominated was Erastus Akingbola, the Group Chief Executive of Intercontinental Bank, as the NSE 1st Vice President.
Akingbola’s nomination, Huhuonline.com has learnt was the climax of horse-trading and sheer clunker philandering.
Dangote has been at odds with Akingbola after Intercontinental Bank Plc, petitioned President Umaru Musa Yar'Adua asking for his intervention to help compel a "debt cabal" led by Dangote to re-pay the loans it took from
Intercontinental Bank.
In a petition sent on its behalf by A.O.S Practice, a firm of legal practitioners, and dated August 5, 2009,
Intercontinental Bank described Dangote as a loan defaulter and “rabid debtor” who is being daily serenaded in the
media as an affluent Nigerian. A look at the three Dangote companies indebted to Intercontinental Bank as contained
in the said petition shows that their cumulative debt profile stands at about N35.8 billion.
Intercontinental Bank also said: "To proceed to sue these institutions as ordinary legal dictates would suggest, is
to get bogged down with the legal technicalities and slow pace of the adversarial practice of our judicial system,
which these cabal would engage to wear us down.”
Recall that Aliko Dangote had been under intense pressure to resign from the council before the Annual General
Meeting (AGM) of the NSE. The erstwhile NSE president, Oba Osundeko had asked Dangote to resign prior to the
election, due to the market’s perception of Dangote’s alleged role in a price manipulation of African Petroleum
Plc’s shares. During a routine meeting of the NSE council in Lagos A committee of the council reportedly met and
appealed to Dangote to resign.
But Dangote reportedly played hardball, employing underhand tactics and blackmail to force Osundeko to back-off and
play ball. One of the issues involved Pivot Engineering Company owned by Osundeko which failed to execute
government contracts awarded to it but collected payments. Besides, Osundeko was also a member of the “debt cabal”
and was neck deep in debt to First Bank.
In its petition, the bank made "a clarion call" on the President "to dismantle this cabal that is hiding under the
auspices of the Federal government's fiscal and economic policies whilst gang raping our client, as with such other
well meaning banks, that oil the economy of this great country. This gang-rape is obviously because we lack a
credit registry or bureau in Nigeria where information and data on the credit history of persons and companies can
be accessed to determine their standing in relation with other banks."
Although Dangote has denied that he owes the banks, Huhuonline.com investigations showed that Dangote group of
companies have a debt overhang of about $400 million (N58 billion) owed various Nigerian banks and hopes of the
affected banks to recover the loans are fading. Debtors like Dangote have seemingly kept the banks in suspense,
forcing them to categorize the liabilities as bad debts that are being written off to cleanse the financial
institutions' books.
The Central Bank of Nigeria (CBN) is flooded with petitions from some of the distressed banks, over difficulties in
debt recovery, especially from the major five debtors including Dangote. Already, three banks have written off over
N76 billion in loans, thereby assailing profitability and dividend payouts.
The choice of Dangote does not inspire investor confidence as he owns six companies (Dan sugar, Dan salt, Dan
Flour, Benue Cement, Chevron Texaco, which are listed on the stock exchange. What will eventually happen when
Dangote becomes privy to insider information about the stock prices of his companies can be anyone’s guess. But
this apparent conflict of interest has created a propitious scenario for insider trading and share price
manipulation which Dangote is an expert.
The fact that Dangote suffers from incurable money-mindedness and will stop at nothing in his quest for personal
gain is an ominous sign of the times that bodes ill for the future of the Nigerian Stock Exchange.
Read more…
FULL LIST !
ANalysis by Oluwafolabomi on Aug 19 2009
I would like to note a few interesting facts.
1. Access Bank managing and deputy managing director are owing N16 Billion in a personal capacity while hounding Femi Otedola who owes through a company...pot calling the kettle black.
2. Fola Adeola, founder of Fate Foundation, and a shareholder in this newspaper, on the list from being a director at Omatek. An obvious example of the endemic nature of the lack of corporate governance in Nigeria's publicly listed companies. Isn't a board of directors suppossed to guide the company away from such issues.
3. President Yaradua's, son-in-law (to be), a debtor too through RAHAMANIYYA OIL AND GAS LTD! I guess there is no accounting for taste when taking on new in-laws! Will there be a "Federal" bailout or will Yaradua be aloof to the travails of his new family.
4. "Who watches the Watchmen?". There is no wonder that the NSE doesn't support fighting the problems of insider dealing when it's head, NDI OKEREKE-ONYIUKE, is a director of a a company with several billions in bad debts. Afterall would you ban yourself? It's also interesting to note that both the current, Aliko Dangote, and immediate past presidents of the NSE, Oba Otudeko, are represented here too!
5. That Aliko Dangote's name appears does not surprise me. When you owe as much money as he does,you get to boss your creditors around since you are "too big to fail".
6. ARISEKOLA ALAO & Oba Otudeko owing billions of Naira, while being a major shareholders, gettng dividends, in First Bank.
7. Femi & Nana Otedola, whose lavish expenditure on a boat apparently costing over $12 million is to be noted, obviously live a life that cannot be supported without debt that they have no intention of paying back. Evidently its true that empty barrels really do make the most noise.
8. (Barrister) Jimoh Ibrahim has never been afraid of debt so he was bound to be here in some capacity. But not paying it back, while not a crime, is basically dishonest! Wetin lawyers dey do sef?
9. PRINCE FEDRICK .E. AKINRUTAN is just about to be made an Oba, who will then be dispensing "fatherly" advice to his people. Will that advice include "Go forth and accumulate debt". There is nothing dishonourable in running your business through debt financing. After all the government does it most years. The problem comes when you live a life, that drains the company of its life blood, while putting other peoples and your staff's livelyhoods at stake. That's just plain criminal and shoud be treated as such!
ARTICLE READ MORE HERE
Pushing on doggedly with its reform of the septic banking environment in the country, the new management team at the Central Bank of Nigeria (CBN) late Tuesday published the list of the country's worst debtors on its website as an "Advertorial."
In a prefatory note to the table of debtors that has 205 names, the CBN said, "Following the recent regulatory action of the Central Bank of Nigeria on the five banks, it has become necessary to use this medium to request the following defaulting customers of the affected banks to pay without further delay their indebtedness, failing which the banks will take all appropriate legal actions to ensure repayment.
"These are the largest debtors and the CBN will continue to publish the list of defaulters on an on-going basis."
A keen reading of the CBN advertorial indicates that the five ailing banks that lost their management team in last Friday's "Bank Massacre", were neck deep in debt reaching the staggering proportions of N740 Billion, a quarter of the nation's annual budget.
The CBN Governor, Lamido Sanusi, blamed the intimidating numbers on what he described as the poor risk management, and corporate governance profile of the banks' management.
The Central Bank also took the daring step to name the institutional and individual debtors, many who are among the nation's high and mighty, and also warning them to "pay without further delay their indebtedness, failing which the banks will take all appropriate legal actions to ensure repayment."
Of the 205 debtors, most of whose indebtedness are in the double digit bracket, three elect for a daring borrowing culture which the CBN derisively characterise as "Non-performing", an euphemism for a poor credit record of not servicing ones debt.
These are companies in the Rahmaniyya Group which owe just two of these banks 41 Billion naira; companies headed by Peter Ololo, which owe three of the banks 76 Billion naira; and companies owned by the controversial Transcorp Plc, which owe two of the banks 41 Billion naira.
The Rahmaniyya Group is owned by Abdulrahman Bashir, Peter Ololo is the Managing Director of Falcon Securities in Lagos while Transcorp Plc is headed by the Director General of the Nigeria Stock Exhange, Ndi Okereke-Onyiuke.
The CBN stated in its advertorial that its action in exposing the debtors draws directly from its mission to restore proper regulatory culture in the industry long characterised by an "anything goes attitude."
Some of the banks had attempted to rationalise the huge debt overhang in different ways. The management of Intercontinental bank, one of the five ailing banks, in an open letter to President Umaru Yar'Adua on August 12, blamed its debt on "a plethora of personalities otherwise called the cabal who have deliberately refused to make returns in respect of facilities from which they have benefitted."
These could however not save the bank's management from being fired by the CBN. Other banks whose management were sacked are Union Bank, Afribank, Oceanic Bank and Finbank.
FULL PAGE LIST !
FULL LIST on CBN WEBSITE SCROLL TO SEE MORE BIG MEN DEBTORS ! http://www.cenbank.org/Out/publications/pressRelease/GOV/2009/ADVERTORIAL2.pd
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We expected Danny The Boss Springsteen Gokey or Adam rock King Lambert. But charlie na kris allen ! !
read on
Whoa. So it's really true: Kris Allen is the new American Idol.
Really. Seriously? This is the biggest upset—well, ever, in the show's eight seasons. Even more than when Chris Daughtry was voted out or when Ruben Studdard beat Clay Aiken. It wasn't just that Adam was pimped out by the judges more than any Idol contestant this season—Paula practically crowned him the winner when he sang "Black or White" 11 weeks ago—it's that he really was the best vocalist we've ever seen on Idol. Simon Cowell has even said that he thinks Adam's going to be an international star.
So what went wrong? Here are the top seven reasons why Adam Lambert lost American Idol.
1. Blame the judges. Just like it's now bad karma to be the front runner in the Oscar race (as Frost/Nixon can tell you) or the presidential election (as Hillary Clinton can tell you), it also doesn't help if you're the foregone winner of Idol long before the season is over. And here is where the judges didn't help Adam's case. Week after week, they didn't just praise him; they declared him The. Greatest. Singer. Ever. In. All. Of. History. Yes, he's a rock god, but when there's a preconceived notion that you've got the Idol crown in the bag, it makes your fans lazy and you lose votes. Kris Allen, on the other hand, consistently delivered solid performances and received mildly positive reviews from the judges. His fans felt like they had to fight harder to keep him in the contest.
2. But you should especially blame Kara DioGuardi. The new judge hasn't been getting much love from the blogosphere—especially after her gaffes involving "Studio 57" (she meant "Studio 54") and "Saturday Night Live" (she meant "Saturday Night Fever")—but she really proved to be the Joe Biden of Idol after she co-wrote the worst coronation song ever, "No Boundaries." The last song is usually how Simon manipulates America into voting for his favorite contestant, by unleashing a parade of superlatives. Not this year. "No Boundaries" was such a train wreck that neither of the contestants could pull it off. It literally left all the judges speechless, including Kara, who said she wasn't going to judge Kris based on her own song. Huh? In the end, the confusion was good for Kris. The judges weren't able to make one big last push for Adam.
3. Did we mention that Adam is a rock god? Idol has always favored syrupy balladeers or pop singers. It doesn't matter how well you can rock out—ask Chris Daughtry or Bo Bice or Carly Smithson or even Allison Iraheta. Rockers don't win American Idol.
4. The Christian factor. Last week, I wrote about how Adam (who hasn't spoken about his religious beliefs on the show) might be hurt by the fact that he was going up against two devout Christian finalists, Kris and Danny Gokey. Most of Gokey's fans probably ended up voting for Kris over Adam, giving him the boost he needed to win. You could say—as many of you have in the comments—that religion is an irrelevant criterion for judging a singing competition. But the fact remains that Idol is one of TV's most family-friendly shows, and it draws a large number of Christian viewers. Five out of seven of the past Idol winners have been very vocal about their Christian faith. Kris Allen had the edge here.
5. The gay factor. Adam Lambert hasn't talked about his sexuality publicly, but TV Guide reported that he was "openly gay," Perez Hilton reported on his (alleged) boyfriend and there are photos circulating online of someone who looks like him kissing another guy. This shouldn't be an issue in 2009. But if you've read any of online chatter about Idol this year, you know that sadly, there's still plenty of hate out there. Adam has millions of fans, and it looked like he could strike an emphatic blow against homophobia, much the same way that Obama broke through the race barrier when he became the country's first black president. But his ambiguous sexuality still cost Adam votes.
6. The youth vote. Remember last week, when they played footage of Kris and Adam visiting their hometowns? Both were met with adoring crowds, but only one was greeted by wailing tween girls who looked like they were in the presence of a long-lost Jonas brother. Kris was the heartthrob who covered Kayne West and dressed like Chace Crawford. Lambert was the Broadway kid who sang Aerosmith and wore eyeliner. The girl vote went to Kris, an important victory—tween girls are the diehards who stay up for hours after the show texting and calling in their votes.
7. In the end, Adam was the better singer, but Kris might have been the more unique artist, despite what the judges said. Don't believe me? Prior to the finale, here are the Adam performances I most remember: "Black and White," "Tracks of My Tears," "Mad World," "If I Can't Have You." Here's Kris's list: "Ain't No Sunshine," "Falling Slowly," "She Works Hard for Her Money," "Heartless." Which songs are you more likely to have on your iPod? Kris beats Adam on mine. They're both terrific guys who have great careers ahead of them. But maybe Kris is the more deserving American Idol after all.
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At least The suitors are getting beautiful wives cant say if OBJs daughters ... shuo make i shut up b4 SSS come carry me o !The Yar’Adua girls have simply become the hottest merchandise for most of Nigeria’s opportunistic, treasure-hunting elites and some wealthy but failed husbands. Next on the betrothal line is Aisha Yar`Adua, the beautiful 22-year old daughter of President Umaru Musa Yar`Adua , who in a couple of months will tie her nuptial.Though diamonds are described as a girl`s best friend, nuptial dates are certainly a girl`s happiest day and the dream of every father. President Yar`Adua’s giving away of his seven daughters, 9jabook.com learnt may after all be his seven-point agenda for his family.President Musa Yar`duaThe question now is, who will she be joined to? Recently she was sighted in social circles with an oil dealer, whom she introduced as her fiancé to a 9jabook.com source. However, emerging feelers suggest that there are subterranean moves by a certain Governor, with very close ties to the Yar`Adua, family, to join the race to land beautiful Aisha.Tagged third-point agenda, Aisha `s nuptial race will certainly be an exciting one to watch as there are indication that the list of contenders are getting longer than the list of pretenders.9jabook.com checks reveals that the traditional route to financial success in Nigeria are hard work, risk-taking and maybe building one’s own business, but lately, marrying money has become the latest trend in the path to acquiring wealth that isn't talked about quite as much these days.Even after people acquire wealth, their insatiable appetite still want more. They want more money and ultimately they want power. The desperate quest for power in Nigeria`s political circles has made politician, of northern extract to fall over themselves in the bid to marry one of President Yar’Adua`s girl who have literally become a prized trophy in elite circles.Yar’dua`s first daughter married the Governor of Kebbi state. Since the marriage, life has not been the same for Kebbi state governor and his cronies, as things drastically became better. Our checks reveal that the incumbent minister of FCT, got his plump job because of the union.Could be recalled that in May 2007, Adamu Aliero, anointed, the present governor of Kebbi state to succeed him. As an act of appreciation, the godfather was elevated to the FCT ministry, after Zainab’s marriage. Impeccable sources confided in 9jabook.com that Adamu Aliero was made minister by Zainab. In the spirit of keeping it in the family, it was Adamu Aliero who told Nigerians that President Umaru Yar`Adua will seek a second term in office.Recently, the governor of Bauchi state, Isah Yaguda also married Nafisa, Yar’dua`s second daughter, since then he has become a major player in Nigeria’s power circles, though he belonged to the opposition party, he has since crossed to the PDP. As a result of this union, Yuguda has been tipped to replace the Central Bank Governor, Professor Chukwuma Soludo when his tenure elapses. However, sources reveal that his young wife Nafisa, like her mom, Turai has keen interest in being first lady. Though she is wife number four, she is scheming to supplant the three older wives, but, the reigning first lady of Bauchi state, is not giving up her position without a fight, but sources within government circles in Bauchi state, said, “considering the fact that Isa Yuguda is a very ambitious man, she is likely to lose to Nafisa.”
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Sources close to CITI BUSINESS say Nigerian telecommunications giants Glo Mobile intends to commence operations in Ghana in August this year, under the name Glo Mobile Ghana.According to information gathered by Citi Business, officials of GLO and Marketing Communications Agencies have met in Naija, LAGOS to fashion out strategies for the launch of the network in Ghana.Prominent among the agencies were global giants, TBWA and JWT both with their African headquarters in South Africa.The entry of the Nigerian telecommunication giant will bring to number, six mobile companies in the country, a situation which will further stretch competition in the country.Already customers in the country have a choice to switch mobile networks with ease and the addition of Glo should bring a further dimension of choice into the market.It is recalled the Globacom was awarded a license from the country’s National Communications Authority (NCA) last June in a deal worth 50.1 million dollars.The NCA said at that time that it was looking forward the Nigerian entity’s enormous contribution to telecom development in Ghana.
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