Central Bank of Nigeria (CBN) has revoked the operating licences of 21 Primary Mortgage Banks (PMBS) as well as one microfinance bank. It directed the Nigeria Deposit Insurance Corporation (NDIC) to commence the process of orderly winding up of the affairs of the affected institutions. The revocation was communicated by the CBN via its gazette dated 14 and 19 November, 14 and 19, 2014. The NDIC had simultaneously been appointed the provisional liquidator to wind up the affairs of the closed financial institutions, according to a public notice by the corporation. Consequently, the corporation said it would soon make public announcement/publication on the verification and payment of insured deposits for depositors, creditors and shareholders of the affected banks. Although no reasons were offered for the latest closure, it may not be unconnected with recent efforts by the apex bank to have the mortgage institutions recapitalised. Under a new guideline, mortgage firms had been categorised into national and state mortgage firms. While the former are allowed to operate in any or all parts of the federation after the payment of a new N5 billion minimum paid up capital, the State PMBs are restricted to only one state if they satisfy payment of N2.5 billion capital requirement. Several PMBs were believed to be lagging in terms of meeting up with the new capital requirement. Among the affected institutions are Alliance and General Mortgage Limited, Benhouse Building Society, Consolidated Estate Building Society, Cymon Savings and Loans, Euro-Banc Savings and Loans, First Amalgamated Building Society, First Capital Savings and Loans, Global Building Society as well as Harvard Trust Savings and Loans. Others are Home Foundation Savings and Loans, Home foundation Savings and Loans, Jubilee Building Society, Lagoon Homes Savings and Loans, Leverage Home Savings and Loans, Mid Land Mortgages, Mortgage PHB, MultiBlanc Savings and Loans and Mustard Seed Mortgage. Others include Omega Savings and Loans, Password Savings and Loans, Post Service Savings and Loans, TMC Savings and Loans and Crystal Edge Microfinance Bank. [myad]
Inyafe as the Carnival Queen at the 4th edition of Ososo Carnival ushering in the year 2015
The Outgoing Miss afemai and the face of Ososo, Miss Ologun Blessing (right),the outgoing face of Ososo, ruth Sani decorating the New Queens with their robes, Miss olorunmo Irete and Patience Ochedu respectively as part of Activities making the 4th edition of Ososo Carnival. [myad]
The People of Ososo in Akoko Edo local government area of Edo State marked their annual carnival of culture at the even of new year, 2015. The, community, in the Northern Part of the State, observed the Fourth edition of the Yearly Carnival which was heralded this year with the burn fire Night. The night signified the beginning of the Carnival and was followed by the Education Summit. The carnival also featured beauty pageant called Miss Ososo, with Miss Irete Olorunmo emerging winner and Miss Patience Ochedu as Face of Ososo. A Member of the House of Representatives, Hon. Peter Akpatasin served as special guest of Honour while Hon. Emmanuel Agbaje, President of OSCADEL served as Chief host. Chairman of Akoko Edo Local government Hon. Joseph Folorunsho Akerejola was also there. Other highlights of the carnival were the Oruku rock climbing Competition, the Street dance in different Cultural groups, including the Peaceful women. There were also the ushering in of the year 2015 with the 30th anniversary of Class of 1984 of Ososo Grammar School, 30th Graduation Ceremony and Presentation of Award to the deserving Senior Colleagues for their Contributions to the development of the School. Speaking at the Award ceremony, the Chairman of the Group of 84, Mr. Mike Adadja expressed gratitude to God for keeping them alive in good health through the year 1984 to date. He said that the aim of bringing members of the association, Ososo Grammar School, Tagged OSGRAM1984 was to appreciate the achievements of the Old Students and Members in various fields of endeavour and to draw their attention to the need for them to Contribute more to the development of the School, The Chairman of the Class of 84 congratulated the Award recipients for their Contributions to the development of the School in the area of paying WAEC/NECO fees for some indigent students and the distribution of education materials as well as the renovation of some of the dilapidated school structures and complementing the state government efforts towards the development on education in general. Also speaking at the award ceremony, one of the Old Student of the Institution and a Director at the National Orientation agency, Mr. Davidson Aminu Commended the efforts of the Class of 1984. He advised the association to have National outlook by embracing none Indigene Students. Among the award recipients were the President of the Ososo Grammar School old Student Association, Chief James Eshimakhe Otaru, who recently retired as a Director in the National Youth Corps Service (NYSC); former Director in the Nigeria Television Authority (NTA), Mallam Musa Maiyaki, who recently gave out Scholarships to deserving Students of the School; Group Captain Bayo Ojo, Mr Felix Bello of the Central Bank of Nigeria in Lagos. Members of the Class of 1984 also took time off to Visit the School and regretted to see dilapidated classes in whiich they Studied about 30 years ago. [myad]
APC Presidential candidate, Muhammadu Buhari and his running mate, Yemi Osibajo,
In 1978, Deng Xiaoping became China’s pre-eminent leader at 74. Before leading China, Deng had cut his teeth in the army, helping it grow into a military machine during the Communist Revolution in the 1940’s. Though initially praised for his role by Chairman Mao, he fell out favour during the 1960’s because Mao considered him too self-centred; was stripped of all his posts and exiled to a rural province to be re-educated. Deng eventually made a political comeback after Mao’s death and started downgrading Mao’s legacies and opened China to globalization.
He was not a flawless leader; the Tiananmen Square Massacre happened under his watch and he also instituted the radical policy of limiting families to “one child per couple” to stem the rising population. However, his most important legacy is laying the foundation for China’s economic boom with forward thinking reforms. He opened China to international trade and introduced reforms in agriculture and industry that improved the overall standard of living and triggered a period of sustained economic growth.
The similarity with the Deng story is a major reason I am supporting Muhammadu Buhari to become Nigeria’s next President despite his history of being a military ruler whose government signalled in the end of democracy in 1983, or a perception of being driven by ethnic sentiments and religious bigotry. I strongly believe he is the leader for the Nigeria of today, and that a government under his leadership will create the foundation for a sustained period of economic growth and development.
The next five points summarize why I’m batting for the Buhari/Osinbajo ticket to win the 2015 presidential election. Here goes…
Nigeria has lost between $20 billion and $30 billion in the last two years to oil sector corruption alone, an amount equal to the Federal budget in 2013 ($31.7 billion). With this in mind, anti-corruption is the most important agenda for him during this election season. While it is obvious that one man cannot solve this problem, it is useful studying how Georgia managed to reduce corruption significantly when President Mikheil Saakashvili took over the government in 2004. If you read the comment below, you will understand why Muhammadu Buhari’s credibility is a great asset in the battle to minimize corruption.
This document here is a great read on how Georgia successfully fought corruption. If you can’t read the complete report, the summary is pretty simple – If a country’s leadership shows zero tolerance to corruption, the business community and citizens will fall in line. In Georgia’s example, the radical policies not only reduced corruption, they improved government’s credibility which increased tax collections. This is my biggest reason for asking voters to vote Muhammadu Buhari into office with a majority at the National Assembly.
What can others learn from Georgia’s success? Leadership and political will are all important. So too is establishing early credibility. In early 2004, the government thought it had 8 months to get quick results. Most famously, 16,000 traffic police officers received their waddling orders overnight. In an effort to sustain public support, attention grabbing symbols matter.
The All Progressives Congress (APC’s) overall ideology is the right one for today’s Nigeria. A “left of the centre” party will ensure social welfare programs which are badly needed in Nigeria today, protect workers and provide equal opportunities in the society. If you don’t belong to a group of Nigerians benefiting from Government patronage, this is the right party for you.
While there are legitimate concerns around the size of such governments and its impact on free markets, an APC government will provide a fine blend of grey matter to balance the impact of its policies on business and the cost of governance. Within the party, there are people like Nasir El-Rufai who led a lot of the privatization of public assets at the BPE; Ben Akabueze who has brought his banking experience to the public sector and ensures Lagos State delivers on an ambitious development plan; Olawale Edun, who led the diversification of Lagos State’s revenues between 1999 and 2007; and of course, Yemi Osinbajo, who is credited for reforming the Lagos State Judiciary during his term as the Attorney-General and Commissioner of Justice.
This is a stellar cast of grey matter that will thrive under a Buhari Presidency. If there is one thing we have learnt from Buhari’s record of leadership, it is clear the man has no problem delegating responsibility where competent lieutenants are available.
James Carville might remain relatively unknown, but the campaign slogan he coined for Bill Clinton’s 1992 presidential campaign is now one of the most iconic campaign slogans of all time. Nigeria is now facing headwinds as oil revenues, our major income earner, might experience a sustained period of suppressed prices. There is absolutely no reason to believe a government that frittered a period of boom away will manage this lean spell properly.
In a period of reduced revenues, exchange rate depreciation and higher interest rates, voters need to be sure about the decisiveness of its leaders and the ability of government to respond intelligently to the rapid changes in the global economy.
For 16 years, Lagos State has used its share of growing oil revenues to boost non-oil collections by improving tax collections. Today, it is the only state where federal allocations contribute less than 50% of the total revenues recognized by the state. Today, while the Federal Government and many states struggle to pay salaries, Lagos State is not only meeting its obligations to employees, it is also embarking on a large-scale infrastructure projects. For those who will ask the inevitable questions on Lagos State’s debt, I already answered that here.
2015 is an opportunity to test if the relative successes seen in Lagos since 1999 can be replicated at a national level. It is also the right time to test the economic policies of both parties and their presidential candidates. Since 1999, there has never been a period where the economic credentials of our leadership team are more important than now. Will you vote the government that ensured 24% of Nigerians remained unemployed despite record-breaking revenues or the one with a clear agenda to ensure at least 5 million jobs are created per year?
This one is the clearest reasons to bat for the APC ticket. I don’t know Namadi Sambo, but the limited influence of the Vice-President suggests he doesn’t add sufficient value to Nigeria’s leadership. While the Vice-President of Nigeria might be seen as an expensive appendage, it is clear under a Buhari presidency, Prof. Yemi Osinbajo will get a lot of leverage to lead policy implementation. Like thousands, I have been exposed to the “incoming” VP’s clear thoughts on Nigeria and the solution to our underdevelopment. It is therefore exciting to finally see an opportunity for one of the finest thinkers I know to put those theories to test.
I can’t remember any Vice-Presidential candidate being so important in an election, but Prof. Osinbajo brings a lot more than religious and ethnic balance to this ticket. It is an incredible opportunity to get a proper intellectual into office especially one who has spent most of his adult life proffering solutions to his country’s problems. For those in doubt, please wait for a debate between Vice-President Sambo and Professor Osinbajo. Get your white towels ready, it promises to be a remake of that epic battle between Sugar Ray Leonard and Roberto Duran.
The Buhari running for office in 2013 is very different from the one that ruled Nigeria in 1984 or the one that ran for office in 2003. I will use two quotes from the man himself to explain. I attended a session where he sounded very sad about the Supreme Court judgement where the result of the 2007 Presidential Elections was upheld by 4 votes to 3 despite an admission of irregularities during the election. Buhari seemed surprised the judges who dissented with the majority were Justices Oguntade, Onnoghen and Aloma Mukhtar (who later became the CJN), and not the ones who came from the same ethnic origin as he did. In that moment, I suspect the strong ethnic connection Buhari had been associated with slowly dissolved, and he realised people are aligned by interests and not where their origins lie.
The second was his admission that he submitted to democracy‘s power over autocratic leadership when the U.S.S.R. dissolved without a bullet. In both admissions, it was clear that both incidents had a huge effect on him and contributed to the renaissance we are now witnessing.
The result is very interesting. For the first time since 2003, GMB has finally built a coalition with a national outlook instead of the Northern based candidacy which was never going to deliver him the Presidency. For me, his conduct during the merger that created the APC showed a man who now understands compromise is an important word in the political landscape. I don’t regret not voting for the 2003 version but the 2014 version surely has my vote in the bag.
Many ask which version of Muhammadu Buhari will show up. Is it the hard-line one that will truncate privatization reforms and increase government’s involvement on business or the one that will provide a platform for technocrats within his government to thrive? My answer lies in Deng Xiaoping’s most famous quote: It doesn’t matter if a cat is black or white as long as it kills mice. [myad]
This “revelation from God” came in the form of one of the birds – which ”symbolized the President, Goodluck Jonathan” and the bird failed to fly.
A Catholic Priest and Founder of Adoration Ministry, Enugu, Rev. Father Ejike Mbaka said in his prediction that President Jonathan would lose February’s election after the bird failed to fly in a ritual he performed.
Mbaka said that the reality on ground now as well as a revelation from God did not favour Jonathan’s continuity beyond May 29 this year.
Delivering a sermon tagged: “From Good luck to Bad luck” during the end-of-year Adoration mass to usher in the new year on Wednesday night, Father Mbaka said he and millions of other compatriots were disappointed by the Jonathan administration which has failed to ensure the release of the Chibok girls kidnapped by the Boko Haram terrorists over 200 days ago.
Rev. Fr. Mbaka had earlier anointed Mrs. Patience Jonathan as the next Nigerian First Lady in 2015 when she, alongside the Deputy President of the Senate, Senator Ike Ekweremadu, and his wife, Nwanneka , worshipped at the Adoration Ministry.
Father Mbaka had, after anointing Mrs. Jonathan that day, released some birds to go and fight for Jonathan.
The First Lady had announced that she had experienced “a spiritual rebirth” at the event.
But on Wednesday night at the end-of-year Adoration mass, Mbaka said Jonathan was going nowhere as far as this year’s election was concerned, recalling that one of the birds – which symbolized the President – he released during Mrs. Jonathan’s visit to the Adoration Ground had refused to fly.
“All the other birds I released flew away but the healthiest of them, which is Jonathan’s bird, could not fly. I tried to make it fly but it could not fly,” he told the huge excited congregation that cheered him on.
The Nigerian Navy has spent about $8.5 Million (over N1.7 Billion) on a new warship, NNS OKPABANA, which the United States of American government donated to it as part of efforts to tackle security challenges in Nigeria’s waters and the gulf of guinea.
The ownership of the ship, which landed in Nigeria today, was transferred to Nigeria from the U.S. Coastguard in May 2014. It was the second ship provided by the U.S. government, after the NNS Aradu.
The amount spent on the ship is for refurbishing of the vessel and emplacing of its armaments.
Receiving the vessel in Lagos today, the Chief of Naval Staff, Vice Admiral Usman Jibrin said that the addition of the vessel would boost the navy’s war against maritime crimes.
“It is worthy of note to state that the successes recorded by NNS THUNDER in curtailing threats in our maritime domain and the larger Gulf of Guinea region, with the confidence reposed in our country by the USA, that made it possible to acquire NNS OKPABANA.
“The addition of this ship into the NN fleet will certainly bolster our zeal to end the menace in our maritime domain and the region, as well as support the regional and global effort to eliminate transnational maritime threats.
“This nation has always requested the navy to do more and with this, the government recognises that there must be needed platform for the navy to do its job well.
“The present government headed by President Goodluck Jonathan took the recapitalisation of fleets as a huge challenge and has invested huge funds through the acquisition of two Off-Shore Patrol Vessels (OPV) from China and this one from USA.
“It is hoped that by the time we take delivery of all, the NN will be better for it,’’ Mr. Jibrin said.
The U.S-made vessel came at a time of strained relations between Nigeria and the United States, primarily over the fight against extremist group, Boko Haram.
The Nigerian government accuses the United States of not fully supporting its military effort against the jihadist group, by refusing to sell Nigeria quality weapons needed for strategic operations.
The American government accuses Nigeria of human rights abuses in the war against terrorism, and says its laws prohibit sales of weapons to nations with questionable human rights record.
In 2014, the disagreement led to the cancellation of a training programme by American specialists for Nigerian troops.
It is not clear how the transfer of the ship will help relations between the two nations with regards to Boko Haram, as the new vessel will focus on maritime security and would play little or no role in the terrorism war in Nigeria’s northeast region.
The chief of naval staff said: “For us to be able to do effective maintenance, it is better to co-locate the two ships (OKPABANA and THUNDER) in the same command.
“However, deployment should be based on threat perception. If they are closely related and are operating about the same area, our maintenance team can be co-located where they are and sourcing for spares will be easier.
“We have opened a maintenance channel with the American government such that we can always source for spares.
“Apart from that, our maintenance that has been working on-board THUNDER will be maintained for OKPABANA and we will continue to maintain the channel of spare sourcing to avoid what happened to ARADU,” Jibrin said.
Parents of the over 200 girls abducted in April last year by members of the deadly Boko Haram have said that they are now appealing directly to the United Nations for help because they have lost hope that the Nigerian government would rescue them.
A group lobbying for government action on behalf of the parents met with U.N. Women, the head of the U.N. representation in Nigeria, and with officials of the U.N. Office for West Africa last month. The group has also appealed to UNICEF, campaign spokeswoman Bukola Shonibare said.
“If the government cannot take action, we are asking for the U.N to come in and help and if they reject, we just don’t know what to do,” Reverend Enoch Mark, leader of the parents said. Two of his daughters were among the kidnapped.
It is not clear what any U.N. agency could do without Nigerian government approval.
More than eight months since the abduction of the girls from Chibok, in Chibok, Borno state, parents say they are still in the dark about what the government is doing.
On April 14, Boko Haram militants raided the school while the girls were taking exams. They loaded 270 of them onto trucks. Around 50 escaped shortly afterwards.
“The Chibok community is pained, we cannot take this anymore,” Dauda Iliya, spokesman for the Chibok community in Abuja, said at a New Year’s Day rally of parents. He added that they had written to the United Nations to “protest this neglect and nonchalance by the government.”
More girls and males have been kidnapped since the Chibok attack. Two weeks ago, gunmen abducted 172 women and children from Gumsuri, 24 km from Chibok.
A 23 year man whose name was given as Christian Gomez has murdered his mother, Maria Suarez-Cassagne using a sharp axe to cut off her head. Her body was found outside the family home in Oldsmar, Pinellas County. Gomez, who had been diagnosed with schizophrenia, confessed to planning his mother’s murder for two days before he carried it out on New Year eve. His elder brother called police for help on Wednesday evening and said that his mother had been beheaded by Gomez. Gomez was said to have fled the scene after the attack but was arrested after another 911 call reported a suspicious person riding a bicycle in the area. Meanwhile the US police have charged Gomez to court with first-degree murder. Florida officials have confirmed the story.
Mrs. H.I.D Awolowo, nonagenarian wife of the late Nigerian political sage, Obafemi Awolowo, has given her support to the Vice Presidential candidate of All Progressives Congress (APC), Professor Yemi Osinbajo, with a call on Nigerians to vote for him in the February 14 election
She said, when Osinbanjo paid her a visit today: “I am very grateful this morning to see that Yemi Osinbajo is going to higher ground and it is my prayer that he will get there. I urge you all to support his aspiration. God will take you there.” .
Mr. Osinbajo is the running mate to General Muhammadu Buhari, the former military ruler, who is challenging President Goodluck Jonathan to the top job.
Mrs. Awolowo expressed her gratitude to God over the choice of Osinbajo as the running mate of Buhari and sought the support of the people of Ikenne in particular and Nigerians in general to make the dream come true.
Earlier Osinbajo eulogized the virtues of the late leader, Obafemi Awolowo, and his contribution to the development of the country. He gave assurance that his party would not derail in carrying on with his good policies and programmes.
“My choice as the vice-presidential candidate of our party is a rare opportunity for Remoland, Ogun State and Nigeria. It is God’s divine. Awolowo came out of Remoland to become the Premier of the defunct Western region and he did excellently well. It is my utmost believe and prayer that we will do more than him,” Osinbajo said.
He said that he was in Ikenne, his homestead, to receive blessings from the nonagenarian for a successful outcome at the polls come Feburary 14.
He attributed high level of insecurity, unemployment, failure in the power sector and other socio-economic challenges confronting Nigeria to bad leadership, promising that his party would bring about the desired change in all ramifications.
Osinbajo was accompanied by his wife, Dolapo, his twin brother, Akin Osinbajo, who was former Attorney-General and Commissioner for Justice in Ogun State, the Iyaloja General of Remoland, Mercy Owolana, a former senator, Olorunimbe Mamora, among others.
The team also paid a courtesy call on the Akarigbo and Paramount Ruler of Remoland, Michael Sonariwo, and the Awujale and Paramount Ruler of Ijebuland, Kayode Adetona.
Osinbajo had earlier visited homes of notable sons of the town which include Adeleke Adesina, who is the coordinator of Ikenne’s Peoples Forum and Idowu Sofola.
In his remark, at a town hall meeting, held at Ikenne Town Hall, Adesina called for support of sons and daughters of the town by voting for Buhari/Osinbajo in the elections.
Adesina told the gathering which had in attendance members of different political parties that the forum was established to drum their unflinching support for their own, whom he said was a bonafide indigene of the town.
“This is our project. The very day his name was announced as the running mate of Buhari was the very day we formed the Ikenne Peoples Forum, so that we can chart a common front by supporting our son, Professor Osinbajo,” he said. “The forum is not partisan. It consists of people from different political parties. Our goal is to vote for our son in becoming the number two citizen of this great country. He is God’s appointee and we must all support him. We must support him with our votes and that is why we are starting the campaign from home,” he added.
Similarly, Mamora, in his address, appealed to indigenes and residents of the town to explore the capacity for rational decision by voting for APC in the forthcoming elections.
South Africa’s President, Jacob Zuma is believed to be planning to take a fifth wife to accompany him through old age. A South African daily newspaper, The Star, quoted the 72-year-old President as saying in Zulu dialect: “Angakayakhi indlu yokugugela… laba ngisabathathile nje” (I do have wives but I’m yet to marry my last one). He was said to have made the statement when he visited a Durban township on Tuesday. It was reported that after Zuma spoke in KwaZulu-Natal, the crowd, most of them elderly, laughed and cheered. Zuma, who on Sunday said he was in “perfect condition” after a stay in hospital in June, had earlier given a speech about the need to respect and tend for older people. Sihawu Ngubane, a professor at KwaZulu-Natal University, was quoted by the newspaper as saying it was fairly standard among Zulu people for a man who practises polygamy to take a last wife for his last years, sometimes the younger sister of one of his wives. “They call the last wife ‘indlu yokugugela’ (the home in which I will age in) because the responsibility of looking after the husband in their old age predominantly lies with the junior wife, who is often younger than the other wives and more agile in case there is an emergency,” he said. Zuma, who has around 20 children, has married six times but currently has four wives on the state’s budget, despite criticism from some tax-payers.
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President Jonathan Will Not “Fly” In 2015 Election, Rev. Father Ejike Predicts
ensure the release of the Chibok girls kidnapped by the Boko Haram terrorists over 200 days ago.