Kobojunkie:

Well, so you are confirming that 800 million was spent on the festival? Yes OR NO? If it is a YES, then He would have to go after those as well.

It was actually N120 million that was budgeted. And the cost was covered by Globalcom as the main sponsors with other companies, it was all over the news and newspaper. And he was talking about he hopes the success of the event, will get other company's to join sponsoring the event in the future.

Kobojunkie:

Exactly!!!

Currently the law of the land is not against Pastors/churches making money through donations or sales of books, and you are right, the relationship between religious leaders and churches/mosques remains fuzzy but you have to understand that if the state decides to go after them, then it would also need to go after the traditional religions as well[b]. I mean I remember Fashola spent about 800 million on the Eyo festival, some time ago, which happens to be linked to traditional religion in some way.[/b] So, yes, he can choose to regulate them but he needs to make sure he regulates them all, or he will open another can of worms. But at this time, I don't think the law is really on his side when it comes to his demanding taxes be paid on proceeds from book sales and item like that that are linked in some way to the church/mosques. You have to understand that these religious leaders have very good lawyers, in fact, maybe better than Fashola and the state can afford right now. I would even be willing to bet that there are out there lawyers willing to offer their services to some of the churches for free.

N800 million? can you please provide a link to the article that showed the state paid 800 million. It was local sponsors like Globalcom, Indomine, Coca-Cola, etc that sponsored the event. Even the place of the event TBS was given to them for free by the company that owns the place.

That is what I thought too when I saw the headline @ Vanguard's website.

ABUJA—An Abuja high court sitting at Gudu yesterday issued an order remanding alleged wife to the late Chief of Staff Headquarters, General Shehu Musa Yar’Adua, Asabe in Suleja prisons over alleged attempt to dupe the Comptroller General of Prisons.

The woman who was identified by the anti-graft agency as Mrs Joy Asabe, was alleged to have falsely represented herself as wife of the late Major General Yar’Adua, with the intent to defraud the Comptroller General of Customs.   

She was said to have committed an offence the EFCC said was contrary to section 8(a) of the advance fee fraud and other related offences Act 2006 and punishable under section 1(3) of the same Act and section 324 of the penal code Act, cap532,1990.

The trial high court judge, Justice Abubakar Talba gave the order remanding her yesterday after the EFCC had arraigned her and another, one Linda Anyanwu, on a three count -charge of fraud and attempt to obtain by trick.

Although they pleaded not guilty to the charge, the court yesterday sent them to prison in the first place to enable it time to hear and determine their bail applications. EFCC had dragged both Asabe and Linda to court.

Asabe was charged as Hajia Asabe Williams (aka wife of late Yar’Adua). The anti-graft agency is contending that Asabe is not the wife to the late Gen Yar’Adua.

They were docked at exactly 3:40pm yesterday by the EFCC alongside one Miss Linda Anyanwu, as the third accused person, Ibrahim Gaya, is said to be presently at large. Both accused persons entered a plea of   not guilty to the 3-count charge read to them yesterday by the court registrar.

The Hajiya did not waste time to correct Justice Abubakar Yalba yesterday, when he referred to her as Joy Asabe Williams, alias Hajiya Asabe Shehu Musa Yar’Adua.

She told the court that her claim to the Yar’Adua family was never questionable and that there was no basis to add alias before her name.

Though her counsel Mr. Adamu Abdul Williams, yesterday filed an application for her bail, the EFCC insisted that it would need time to file its own application in opposition to her release.

Mr F.P Abu, who represented the commission, yesterday further pleaded with the Judge, to transfer the accused persons from EFCC detention to prison custody.

He told the court that the transfer was imperative considering that the detention facilities in the EFCC was overstretched.

Consequently, the judge ordered that the accused persons be remanded in Suleja prison until June 22 when hearing will commence on the matter.

The accused persons has been in EFCC custody since the 13th of last month when they were arrested by the men of the state security services(SSS) who latter handed them over to the EFCC for prosecution.

It was gathered that the travail of the accused persons, started about three weeks ago when Miss Linda Anyanwu, who was said to be based in Germany, appeared at the Customs headquarters Abuja, to demand for some bags of rice.

She identified herself as a representative of the Asabe Shehu Musa Yar’Adua Charity Foundation, an NGO owned by the Hajiya.

It was said that a fracas ensued between the lady and the Comptroller General of Customs over the issue of identity, and the Hajiya was invited to clarify the controversy.

On getting to the Customs office, she, alongside Miss Linda were immediately whisked away by men of the SSS.

http://www.vanguardngr.com/1/index.php?option=com_content&task=view&id=37338&Itemid=42

hey, just posting what the newspaper said, lol

[b]Governor Chibuike Rotimi Amaechi of Rivers state shocked his commissioners by announcing their sack late last night, on radio, without prior information.

He he took-off to Abuja with the first flight in the early hours of today. The news of the sack was sent out to the radio at about 11.30 p.m. A statement signed last night, by the Secretary to the Rivers State Government, Mr. Magnus Abe, which announced the dissolution, thanked the former commissioners for their services and contributions to Rivers state while they were in office. He advised them to hand over to their Permanent Secretaries, and wished them many more successes in their future engagements.

However, there are indications that some of them may stage a comeback. P.M.NEWS gathered that the governor gave his former commissioners some sense of security when he told them on Wednesday, during the last Executive Council meeting this week, that there was going to be another Executive Council meeting today, Friday, 6 June. It was gathered that the reason for the sack may not be unconnected with repeated assurances made by the State Chief Executive to the people of the state that most of the development projects would be delivered to the state this June.[/b]

[b]It was learnt that the governor, who has a knack for surprise inspection of projects embarked by various ministries without the knowledge of the commissioners in charge, has been worried that most of the projects would not be delivered to the Rivers people on schedule. Our sources also hinted that the dissolution of his cabinet may be the beginning of political alignment of forces with the opposition who felt shut out of his administration since he assumed office. The constitution of the next cabinet may accommodate loyalists of the former governor, Dr. Peter Odili.

Last week, the governor sent his wife, Mrs. Judith Amaechi, to represent him at the funeral service of the mother-in-law of Chief Austin Opara, the former Deputy Speaker of the House of Representatives, held at St. Thomas Anglican Church, Diobu. Opara was the governor’s rival in the PDP gubernatorial race. Since then, Opara has been in opposition. The presence of the governor’s wife at the funeral service has been interpreted as an olive branch to the opposition that there will be no more war. It was also gathered that the governor was in the private house of Senator Lee Maeba, representing Rivers East Senatorial District, in Port Harcourt, yesterday. The Senator is also regarded by political watchers as one of the opposition members in Abuja.

It was gathered exclusively that governor Amaechi has been on intense pressure to dissolve his cabinet for the reason that some of them have been allegedly involved in contract scams, non-performance and inability to cope with Amaechi vision and speed. It was gathered that because of the latitude he gave to Commissioners to award contracts in their various ministries, some abused it. Prior to the dissolution, the state Executive Council took a resolution that all contracts in various ministries would be approved and awarded by the Exco, no matter the ministry.[/b]

http://thepmnews.com/2009/06/05/gov-amaechi-dissolves-cabinet

[b]The decision of the Lagos state government to tax sales from books, tapes, compact disc and other materials sold by churches in the state is leading to a crisis, as the Pentecostal Fellowship of Nigeria (PFN) rejected the idea and may head to court to challenge the decision.

The PFN said while it backed the move by the state government to tax church pastors and workers, it would not subscribe to taxing materials sold by the church. National Secretary, PFN, Pastor Wale Adefarasin, yesterday, at a news conference, said since the church is not engaging in business by selling these materials, the state government has no right to tax them. According to him, it is the right of government to tax sales arising from trade or business, but noted that the church was not doing business by selling those materials.

“We are not engaging in business. The tapes, CDs, and other materials are simply messages meant to develop our people,” he said. Adefarasin disclosed that PFN has informed its lawyers on the current development, adding that “our lawyers are working on it. We will make our position known later.” On the move to tax pastors and church workers, the PFN scribe said it was a welcome development, adding that the state government is not taxing churches but pastors and workers who earn salaries.

“Any Nigerian who earns salary must pay tax. Church workers who earn salaries are taxable. Pastors, church workers must pay tax. “No Nigerian is above the law. Anyone who qualifies to pay tax must pay. The bible gives us injunction to be law abiding. We are spiritually obliged to pay taxes,” he stated. [/b]On the Niger Delta, Adefarasin said a great injustice was being done to the people since they own the resources being tapped by the government.

“You can’t resolve this issue by war. The lasting solution will come through dialogue and not war. You can’t continue to allow an area to be deprived when you produce the wealth of the nation from their land. “This problem can’t be solved by warfare but by dialogue. The church can help rebuild the trust of the people of the Niger Delta in the government,” he said. On church leaders buying private jets, Adefarasin said there was nothing wrong in it, adding that it is more economical and stress-free to use a private jet than board a commercial plane while travelling. He, however, warned against ostentatious and flamboyant living by some pastors who buy and drive flashy cars.

http://thepmnews.com/2009/06/05/tax-pastors-go-to-court

The federal law states that if a church or mosque has a house it rents out for money, it must pay taxed on that profit. Is that different form paying tax on profit a church or mosque makes from book sales,etc.

What is sisi @ work?

Lagos govt. donates motorbikes to Police

Security operations in Lagos State received a boost following the donation of 1, 000 CC BMW motorbikes to the Lagos State Police Command on Thursday.

The donation made by the Lagos State Government through its Security Trust Fund is to help reduce crime in the state especially on major highways where patrol vehicles cannot get to as a result of traffic.

T[b]he Lagos State Commissioner of Police, Marvel Akpoyibo said: "Today we are witnessing an innovative way of fighting crime in Lagos. We have noticed that a lot of crime happened on the highways due to traffic congestion.

"Hoodlums take the advantage of the traffic to rob people, we therefore cried to the government to provide us with motorbikes that will be on the road to monitor traffic."

Fola Arthur-Worrey, the Executive Secretary of the Lagos State Security Trust Fund presented the motorbikes to the police. He said the government is committed to the protection of lives and property in the state.

"When the Commissioner of police submitted the proposal to the government, the board of the Fund saw it as a good thing and we decided to provide the fund for the purchase of the motorbikes so that we can further strengthen our activities in protecting the lives of Lagosians.

We intend to provide more bikes that will cover the whole of Lagos very soon." Mr. Arthur-Worrey said.

Mr. Akpoyibo further said that the motorbikes are meant for chasing armed robbers and the public should report any unscrupulous acts by the riders.

"These riders have been trained to chase armed robbers and they will be on patrol 24 hours. They are not to stop motorists and ask them for particulars since this is not what they have been called to do.

"Their duty is to monitor traffic and work with the control room to track down criminals and hoodlums, so that where the patrol vans cannot get to, the bikes will get there. If any of these officers are found wanting, the public should report to me." Mr. Akpoyibo said.

Also at the event, the police presented cheques to the families of three police officers, who died in active service. The money was made available by the Lagos State government through LASACO Assurance Plc.

Mr. Akpoyibo said the money is to fend for the families and their children.

"This is not pension or gratuity that is being given to these families. It is just to cushion the effects of their suffering due to the demise of their bread winners."

Doris Omaineyi, one of the recipients of the cheques, said she was happy to receive the money.

"I have received N1.3 million. My husband Lawrence was a Deputy Superintendent of Police and he died last year. I have three children and I will use the money to pay their school fees and do other things." Mrs. Omaineyi said.
[/b]


http://234next.com/csp/cms/sites/Next/News/Metro/5422668-147/story.csp

asha 80:

.)


I am ignorant here.What is islamic banking?

http://en.wikipedia.org/wiki/Islamic_banking

It is becoming very popular in the west, because it minimizes your exposure to debt (especially since they are performing better in this downturn). more and more western banks are offering it in addition to traditional banking. Just like a bank will have personal banking(checking account and savings) , investment banking, private banking, they are now offering Islamic banking.

http://www.hsbcamanah.com/1/2/hsbc-amanah/- HSBC's website for Islamic Banking

http://www.alislami.ae/en/index.htm- Dubai Islamic Bank- this type of banks only offer Islamic banking.

Many Nigerian banks that have been carrying over their debt portfolio may be forced to write-down such bad loans, world leading risk analysts and consultants, has stated. 
The group’s position follows the confirmation of Sanusi Lamido Sanusi as the new CBN governor.

A document prepared by Sebastian Spio-Garbrah, analyst, Middle East and Africa, on behalf of the group and made available to BusinessDay, said policy-wise the most substantive difference between Soludo and Sanusi may be with regard to the mark-down of bad assets held by Nigerian banks.

“Soludo gave banks until the end of 2009 to declare the true extent of their bad loans and affiliated losses on the country’s capital markets. In fact, this policy largely explains the banking industry’s enthusiastic support for Soludo’s reappointment”, the group stated. 

According to the group, “many banks facing liquidity pressures do not want to be forced into a thorough write-down of their bad loans and investments, which at an aggregate level are estimated at between $6 and $10 billion, or roughly half of their present capital base.”

However, Eurasia stated that “Soludo’s forbearance with regard to the systemic weakness of the banks likely exacerbated the liquidity crisis that battered the country’s financial system until recently.”

It noted that Sanusi led First Bank to comply with Basel II and International Financial Reporting Standards (IFRS), and may likely push for adoption of more stringent risk management and compliance protocols across Nigeria’s financial industry.

According to the group, if the banks are forced into recognising their losses, the current crop of 24 banks will shrink even further as some middle-tier ones who are most stressed will seek to combine in order to survive.

A new wave of bank mergers and acquisition (M&A) could result from a move by a Sanusi-led CBN to force the banks to write-down their losses, the group noted.

On monetary policy, it stated that “Sanusi will very likely follow the orthodox macroeconomic advice of CBN’s economic staff, producing more reliable policies. While he has an independent streak, Sanusi, unlike Soludo is not a professional academic economist and is more likely to avoid ‘going it alone’ or veering far from the mainstream of consensus orthodox macroeconomic policies”. 

Although inflation has been at relatively low levels, the recent 30 percent fall in the value of the Naira and rebound in commodity prices could put upward pressure on prices again, according to the body.

It states that Sanusi may have to fight inflation early in his tenure.

In addition, “Sanusi’s training in Islamic Sharia law will also likely make him more open to Islamic banking practices, which have not yet taken hold in Nigeria, despite its large Muslim population. A move to establish Islamic banks in the northern states will harm the retail growth strategy of many southern based banks who are now feverishly venturing into the un-banked north”, it noted. 

[b]According to Eurasia, Sanusi’s appointment will help consolidate northern Muslim elite influence over the Nigerian economy and financial sector. [/b]His selection also completes Yar’Adua’s break with the personnel of former President Olusegun Obasanjo. It will also likely end a period of recent seemingly erratic central bank policy decisions, the group noted. 

By replacing Soludo with Sanusi, Yar’Adua also completes his break with the Obasanjo’s economic team. Before coming to the CBN, Soludo had been Obasanjo’s chief economic adviser and the principal architect of Nigeria’s banking sector consolidation. Yar’Adua has already dismissed other high profile members of the Obasanjo economic reform team, such as Nasir El Rufai and Nuhu Ribadu, the group noted.

Yar’Adua is also signaling a break with the seemingly erratic and contradictory policy moves made recently by the CBN under Soludo, policies with which Yar’Adua had grown frustrated.

“These have included foreswearing and then re-imposing interest rate controls; imposing forex controls that exacerbated the fall of the currency and fueled the growth of the unofficial Naira market; and promulgating rules on minutiae such as bank advertisements, the physical location of ATMs, and the titles that local banks should confer on employees”, the group noted.

It stated that Sanusi will likely reverse a number of the decisions made by Soludo.

http://www.businessdayonline.com/index.php?option=com_content&view=article&id=3060:new-cbn-governor-may-force-early-write-down-of-bad-loans&catid=54:banking-finance&Itemid=326

Nigeria Banks are in trouble, lol, anyways this is good for the economy, public and shareholders. Transparency  is very important to avoid a bubble.
I also think the islamic banking is a good idea, he should also add private banking (if its not already available in Nigeria banks.)

BENIN—GOVERNOR Adams Oshiomhole of Edo State has been urged to constitute a social economic development forum to formulate an integrated development strategy that would facilitate the rapid development of the state.

A chieftain of the Peoples Democratic Party (PDP), Prince Greg Ogiogwa, who suggested this at a seminar organized by the Benin-America International Chamber of Commerce in Benin City yesterday, also urged the government to look for an alternative power system that would generate 30 mega watts of electricity before 2012.

He explained that if the power problem in the state was solved, the state would be industrialized and create jobs for over 380,000 people in the state, adding that insecurity in the state would also be a thing of the past since jobless youths in the state will now be engaged.

[b]According to him, “government policies so far in the state are disjointed and no one section of the economy must be allowed to suffer lopsided growth or marginalized.

“So if a development forum is constituted, it will help to integrate all the different aspects of the government’s developmental plans and strategy".

“It as a result of the lack of such forum that it seems the government is not doing any thing, though we noticed some improvements in the last one month.

“We are blessed with lots of natural resources and I believe that if these resources are well tapped, the state will change into an industrialize state and over 380,000 jobs can be created in two years”.

Special Adviser on Culture and Tourism to the governor, Mr Orobosa Omo Ojo, said the state government was determined to revamp the decayed infrastructures in the state, adding that “ we can see that serious de-silting exercise has commenced and roads are being rehabilitated, even in this raining season.

“The governor inherited lots of problems but in a very short time, the people of the state will see the difference”.

The Coordinator of Benin-America International Chamber of Commerce, Mr Billy Osawaru, who spoke earlier, lamented the absence of international investors in the state and assured that the group was set to assist the state government in bringing in investors and also provide equipment, both in the health and educational sectors. [/b]

http://www.vanguardngr.com/1/index.php?option=com_content&task=view&id=37205&Itemid=44

Former US Secretary State and Chairman, Joint Chiefs of Staff of the American Armed Forces, General Colin Powell (rtd), has revealed that on the night the late General Sani Abacha was to overthrow the Interim National Government (ING), headed by Chief Ernest Shonekan, he was informed at 2 a.m. Powel said he had protested against the decision, but was ignored by the late head of state.

Powell, who had supervised American involvement in 28 conflicts around the world including the Panama intervention, and Persian Gulf Operation Desert Storm, also noted that Nigerians do not trust their leaders.

He said many do not consider the current Nigeria democracy as that of the people.

Powell made these remarks in his speech during the breakfast meeting organised by Tell Communications Limited (publishers of Tell Magazine) to mark Nigeria’s 10 years of unbroken democracy (May 1999 – May 2009).

“I have watched as someone who sees and believes in the great potential of Nigeria as an economic power and a political leader in the region and the world- as someone who wants to see that potential realised,” said Powell.

“Yes, I have seen the turmoil”, he added. “Shortly after I retired from the Army in 1993, I began getting letters from Sani Abacha, telling me of the problems in Nigeria,” he told the audience.

“His letters were disturbing, and foreboding,” he added.

He continued: “Then, late one night, around 2 a.m, I got a phone call from him at my home that the situation, in his view had become so bad that he had to act.

Said he: “I pleaded with him not to, that America and the world would not understand and would react badly. He did not listen, and you know the rest of that story.”

Powell said in 1999 he was part of the election monitoring team in Nigeria and had a profound experience.

He regretted that by all independent accounts he had seen the irregularities and corruption seen in subsequent elections is deeply troubling, adding that there is a real danger, that the will of the people is not being determined, but instead is being manipulated and pushed aside in the quest for power.

Vice-President Dr Goodluck Jonathan who also spoke at the event where he represented President Umar Yar’Adua said the government was committed towards ensuring that the votes of Nigerians count in all future elections.


Jonathan stated that part of what the nation was celebrating was the successful transition of one civilian government to another.

According to him: “ This is the first time the nation’s parliament has been in place for 10 years although the judiciary and executive existed throughout the period of military rule.”

He further observed that Nigerian politicians had a tendency of challenging results of elections whenever they lost, noting that there was need for stability if the nation’s democracy would grow. The Vice-President enjoined the mass media to be more balanced in its reporting of political events in the country.

Said he : “ It is not in all cases that the ruling party is on the wrong side during political developments in the country” .

He cited the fraudulent manner in which state independent electoral commissions conduct local government polls in different states of the country where parties in power always swept the polls. He however regretted that the trend never attracted the attention of the media which only preferred bashing the Independent Electoral Commission ( INEC).

Said he: “ If we cannot correct the rot at the lowest level, then it would be cumbersome to do same at the top” .

Also, speaking at the event was Justice George Oguntade, a Judge of the Supreme Court of Nigeria, who described the existence of the current 36 states structure as a drain pipe to the economy, and advocated that some states be merged.

http://www.vanguardngr.com/1/index.php?option=com_content&task=view&id=37227&Itemid=43

Sharia has it own style of banking. It is called Islamic Banking. Soludo wanted to introduce guidelines for islamic banking but for whatever reason he never went through. Even though other African countries are now allowing their banks to offer the service

There is nothing wrong in islamic banking, it is the newest thing in banking and this global meltdown has brought its benefit to the attention of mainstream media. The difference is that there is nothing called interest on loans (banks have a different way of making profit off loans).

It has become a big hit in the Middle East, Asia and Europe.Western bank such as HSBC, RBS, etc now offer islamic banking and business school are now offering bank workers opportunity to get a professional certificate  in islamic banking.

lol,  I cannot stop laughing especially the "you are blocking the camera" part.

I like lamido sanusi's sense of humor, especially at the end in his response to the obama question.

Nigeria cbank nominee to fast track fx liberalisation


ABUJA, June 3 (Reuters) - Nigeria's newly confirmed Central Bank Governor Lamido Sanusi said on Wednesday he would "fast track" the easing of foreign exchange market restrictions and looked to restore confidence in the naira currency.

The upper house of parliament unanimously approved the appointment of First Bank (FBNP.LG) Managing Director Sanusi as central bank governor following his Senate confirmation hearing in the capital Abuja.

"[b]What we need to do is open the interbank market, to improve the bank open position limits, to go back to wholesale debt auction, and to reverse the emergency measures that were taken, which were temporary, as quickly as possible," he said.

Foreign investors in sub-Saharan Africa's second-biggest economy had been unnerved by a lack of clear commitment when the restrictions were first imposed on when the return to a freely-determined exchange rate might come.

Outgoing governor Chukwuma Soludo said last month the central bank would return to a liberalised forex market over the next three months, reversing restrictions imposed in February and again allowing banks to trade forex freely among themselves.

Sanusi said that process may need to happen more quickly.

"We have set a deadline of three months to go back to the status quo and I think we need to fast track that process. The earlier we revert those additional policies the better for the system," he said in his first public comments since being nominated.

Soludo introduced the restrictions in a bid to flush out speculators and stabilise the naira <NGN=>, which had fallen more than 20 percent against the dollar in two months largely because of declining world oil prices, the main source of foreign earnings in Africa's top oil producer.

But the measures forced a surge in demand for dollars on the black market, where the naira depreciated even further.[/b]

Sanusi said the naira depreciation had been "absolutely necessary" but said it was important to restore confidence in the currency. He said he expected the black market rate of around 165 naira to the dollar to converge with the central bank's current rate of about 146.70.

BANKING LIQUIDITY

Nigeria, Africa's most populous nation and the world's eighth biggest oil exporter, has seen its economic outlook clouded by the global downturn, putting additional pressure on the country's banking system.

Sanusi predicted Nigeria's economy will likely grow by 4 percent this year, down from the central bank's 6 percent estimate for 2009 and below last year's 5.3 percent increase.

Poor disclosure levels fuelling distrust between counterparties, a reduction in foreign credit lines and higher risk provisioning for non-performing loans have contributed to a tightening of liquidity in the system. [ID:nLC231700]

Sanusi said overall capitalisation and liquidity in the sector were sufficient but said there were a few weak points.

"The system as a whole is well-capitalised. I think the liquidity in the system as a whole is good , But I think there will be a few weak points. We need to help those banks to correct their problems," he said.
Sanusi built a strong reputation for strong corporate governance and conservative lending strategies at First Bank, where he served as head of risk management before taking over as managing director in January.

He has worked for more than two decades in the Nigerian banking industry, including a stint at United Bank for Africa (UBA) (UBA.LG), where he spearheaded the bank's drive to comply with Basel 2 capital adequacy requirements.

Analysts say Sanusi's experience makes him well-equipped to push through a much-needed tightening of banking supervision.

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSL361049120090603

Ilelobola:

Couldn't agree more but in the midst of building skyscrapers they provided for their poor. The tourists and foreign investors were not prioritised at the expense of the poorer citizens and I don't believe skyscrapers alone will bring tourism or investment anyway.

IS that not what this project is all about bringing in private investors who will pay taxes to the government and provide job for the poor. Since the project is private (not government funded), i dont see how they are prioritizing tourist and foreigners over the poor. The project might also put more houses in the market, which could lead to reduction of prices in other parts of Lagos.

No wonder some Nigerians complain money is missing from their account.

WHY does everyone who knows someone in government want to be the next Managing Director of Niger Delta Development Commission, NDDC? The reasons may be numerous, but none has relevance to the development of the region, the major reason for creating NDDC nine years ago.

In line with the zoning formula for top positions in NDDC, Rivers State will produce the next Managing Director, a decision Akwa Ibom State contests. It appears settled. What is throwing up more controversies is the part of Rivers State that should produce Nigeria’s next billionaire, even if he comes to the position a pauper.

Personal wealth and political mileage are among the principal attractions of the position. Anyone appointed can become as wealthy as he can stretch his ambition and greed. There are no obstacles to the enterprise, so long as he recognises factors that could affect his tenure and takes care of them.


Communities in Rivers State parade different statistics to prove they are the largest producers of oil and gas in Nigeria. From their logic, a land that delivers that quantum of oil and gas should produce the Managing Director of NDDC. The mystery is how each community has the statistics to strengthen its position on the same issue. Where NDDC is at stake, everything is possible.


One of the possibilities is that whoever is appointed would not improve the lives of the millions of impoverished people in the Niger Delta. NDDC is a behemoth, serving interests of contractors, politicians, traditional rulers, and whosoever that squeezes through a maze of guises and feints set to mimic seriousness. With the vastness of these interests, and what they represent, NDDC cannot serve the people.


Competence is a minor factor in the appointment. None of the communities says it has a candidate who can realise the ambitious mission of NDDC, among them eradicating poverty in the region. If NDDC eradicated poverty, it is of a few, whose stupendous wealth chokes existence out of others.


With matters of such grave import reduced to political choices for the satisfaction of the cravings of a few, it is no wonder that we keep getting the same results from the fixed experiments we make with the lives of our people.


There is no way of knowing who would be chosen, why he would be chosen and what  qualifications he bears that would make a difference to the ways NDDC has been managed. No indications point to concerns about making NDDC better, not with the current tussles over which State produces the Chairman and the next Managing Director.


Contests for positions in NDDC with the attendant superintending of the billions of Naira allocated to the intervention agency is more important to those who control it than how the money is spent.


NDDC, if it works, can improve the living standards of the peoples of the Niger Delta. Its new Managing Director should concentrate on using NDDC to transform the Niger Delta.

http://www.vanguardngr.com/1/index.php?option=com_content&task=view&id=37046&Itemid=68

This ia a great job opportunity,  anybody wants to apply?

The Economic and Financial Crimes Commission (EFCC) filed fresh charges against Senate and House of Representatives Chairmen Committee on Power, Senator Nicholas Ugbane, Ndudi Elumelu in connection with the alleged N5.2 billion contracts scam in the Rural Electrification Agency (REA).

The 158 fresh charges were filed at the Federal High Court, Maitama in Abuja. Twenty one corporate bodies allegedly used to siphon the funds will be arraigned with the suspects. The charges border on money laundering and embezzlement of funds.

With this latest development, Elumelu and the other suspects will be facing two separate trials on a total of 315 count charge in connection with the REA scam.

On Monday, Justice Adebukola Banjoko of the Federal High Court, Gudu granted Elumelu and nine others bail on conditions that they provide N50 million bond, two sureties each in like sum and provide proof of three years tax clearance.

Daily Trust gathered that the suspects will not be released until they satisfy the conditions for bail.

“We have to go to the banks to ensure that the sureties who sign are indeed who they claim they are, we will go to the FIRS to verify their tax clearances.

When they bring their Certificates of Occupancy we will go to AEGIS to ensure they are authentic,” a source said.

According to the source the companies are being joined in this law suit because “when a prima facie case is established against a suspect the instruments used in the crime are culpable.”

The source said, “In this other trial they will have to be sent to prison again and if they are granted bail they will have to come up with different sureties and we intend to arraign them before Friday.”

EFCC’s Spokesman, Femi Babafemi declined comment on the matter.

http://www.news.dailytrust.com/index.php?option=com_content&view=article&id=554:power-probe-efcc-slams-elumelu-others-with-fresh-158-charges&catid=1:latest-news&Itemid=119

noetic2:

The question is not whether it is good or not, . . ,  . . is it LEGAL?

yaradua's rigging to power is GOOD from pdp's perspective, but is that legal?. . ,  .is rigging an acceptable norm in a developed democracy?
An act might be good but does that make it acceptable or legal?
There is no crime in what they have said. All they are saying is given the chance, they would do better. This is what opposition in democracy is all about.
What has the PDP in lagos said to fashola in the last two years?. ,  . . .NOTHING
What has the AC as a whole said to Yaradua in the last two years?. . . . , NOTHING. . . .

They have no issues to antagonise them for. . . .all they talk about is marginalisation, go-slow, zoning and federal character. For the first time a party is addressing concrete issues and simply saying "we can do better". . . . .whats the crime in that?
This has been reported in media circles over the past year. . . . neither tinubu nor fashola ever denied this.

The FIRS has not proven what Lagos state is doing is illegal. They could take them to court but have not. Please point out were in the constitution it states ways a state govt. must go about  in collecting their revenue?


Nobody said it was a crime for DPA to mention that was their idea. But they have not been able to prove it. All what Fashola has been doing about the whole mega city has been drummed up since Tinubu was in power. You can accuse their candidate for plagiarism, too.

They are allowed to point out they can do better, but they are pointing out their candidate two years after the election and 2 years to the next.

The media has been reporting it, not opposing party been quoted in the papers? Pls post links or articles if you can find it.

LAGOS — Reprieve came the way of the recently-deported Vaswani Brothers as a Federal High Court sitting in Lagos, yesterday restrained the Federal Government from arresting or deporting them, including 30 expatriate staff of the Stallion Group of companies.

Trial judge, Justice Mohammed Liman also ordered the immediate release of the detained but not deported staff of companies owned by the Vaswani brothers, who were allegedly arrested by the Federal Government based on the withdrawal of the expatriate quota positions earlier granted them.

The court also restrained government from confiscating or sealing their business premises and assets in any manner whatsoever, harassing or disrupting their operation pending the determination of the suit.

It would be recalled that the Stallion Group, owned by the Vaswani Brothers and 33 Indian nationals, had dragged the Federal Government to court,over the withdrawal of all expatriate quota allocations.

Defendants in the suit are the Attorney-General of the Federation, Minister of Interior, Nigerian Immigration Service, State Security Service and the Inspector-General of Police

Justice Liman in his ruling held that the plaintiffs have locus standi to bring the suit and that the application was filed in accordance with the rules of court.

On whether the deportation was an act of state, which was not subject to judicial review as argued by counsel to government, Chizeonu Okpoko, the court cited Sections 18, 19 and 45 of the Immigration Act, stating that the action of the government was an administrative one, which must be based on law and the constitution empowers the court to determine whether those actions were in accordance with the law.

“I have no doubt that Nigeria is not a lawless country where a person who complains of an infringement of his rights will not have judicial succour or his complaints will always come to nothing. When a matter is before a law court, the state must not engage in any activity that will foist a faith accompli on the court, a situation where that happens will make the beginning of the degeneration of the country,” the court held.

According to the court, the applicants must however, fulfill three condition before they could enjoy the judicial reprieve.
The court said that the applicants who are in detention must present a responsible Nigerian to stand as surety for them, they must present themselves to the authorities every fortnight and deposit their international passport, while further hearing was adjourned till July 15, 2009.

The Federal Government had in an objection contended that the court lacks jurisdiction to entertain the matter being an “act of state, in which the judiciary branch can not interfere.

Government argued that “any interference by the judiciary branch would result in impermissible and unnecessary conflicts with the exercise of sovereign powers by the executive, further contending that the suit was contentious and involved the determination of serious disputed facts, and that the court lacks jurisdiction to entertain the suit, urging the court to dismiss the suit.

Government had also argued that the interlocutory injunction sought by the Vaswani brothers, their companies and expatriate workers was designed to tempt the court.

It would be recalled that a similar court had last month suspended the ‘No Debit Note’, placed on the accounts of their (Vaswani brothers) business concerns in Zenith Bank, Guaranty Trust Bank and Skye Bank by the EFCC.

EFCC, however, has appealed against the ruling, asking the Court of Appeal, Lagos to set aside the order made by the lower court on April 27, 2009, contending that the lower court erred in law, when it assumed jurisdiction to the hear the substantive suit, in which the principal claim of the Vaswani brothers was their refusal to pay custom duty and not a fundamental rights suit.

http://www.vanguardngr.com/1/index.php?option=com_content&task=view&id=37099&Itemid=41

noetic2:

You easily forget that the subject here is nigerian politics. . . where the "issues" have always been zoning, fedral character and compensation.

For the first time in the history of modern nigeria, a political disagreement is based on issues. DPA is accusing fashola of plagiarising their candidates program, which took him 10 years to develop.

Everything is wrong with paying a company commission based on government's revenue. . . .its simply called corruption. The inland revenue of the lagos state government is legally empowered to receive such income. . . . . . how do u think it is done in other states?

How can FIRS say it is illegal?  no Wonder  they are a useless and under performing department, they might want to know that outsourcing in the 21st century is a good thing.

How can DPA prove that all the things Fashola is doing is plagiarism? From the look of things a lot of the plan was carried over form Tinubu. And during the campaign in 2007, Fashola laid out his plan during the campaign so how is that stealing someone else's idea?

And for DPA, that is a very childish claim on their part and you claim political disagreement on issue, lol. It seems they are trying to say this is our idea but he is not implementing it properly, then that is not disagreeing on issues.

It is not Commission, it called payment for service (outsourcing). Till today no opposing political party- DPA, PDP has been able to prove the company is in a way related to Tinubu.  They might be right but still there has been no prove.

As for other state, they do not have IRS, that is why they seat and wait for federal allocation

Experts in the country’s financial sector have passed vote of confidence on the newly nominated Governor of the Central Bank of Nigeria (CBN).

Former minister of finance Kalu Idika Kalu described the appointment of Sanusiu Lamido Aminu Sanusi as revolutionary in the nation’s financial sector.

He said with his experience from First Bank of Nigeria and connection around the world, Sanusi would take the CBN to next level and he can handle the job effectively.

Kalu, however urged the new governor to be very pro-active in mobilising resources particularly on agriculture, adding that the apex bank should ensure that other banks participate in the disbursement of agricultural fund so that the impact would be country wise

“He should also take cognisance on the management of exchange and interest rates so that the economy can grow as far as possible. In a situation where there are large volume of idle resources, growth is very important than stability. You cannot focus on stability when there is no growth. It is the output of the growth that produces stability for the economy”, Kalu said

Also, Opeyemi Agbaje, a director of Lagos Business School and Chief executive officer, Resources and Trust Company Limited described Lamido Sanusi as a “very well qualified to be the Governor of the Central Bank”.

He is also well-equipped for the financial sector supervision aspects of the job given his role as a risk manager in UBA and First Bank, he said

“Most importantly he has the right integrity and values which will make it difficult for him to be corrupted in that office. He should be able to maintain the regulatory independence and ethics required to succeed as CBN Governor. As he takes office, he will inherit several short and medium term challenges which I believe he is able to handle”, Agbaje said.

http://www.news.dailytrust.com/index.php?option=com_content&view=article&id=530:sanusi-will-revolutionise-nigerias-financial-sector&catid=26:business&Itemid=111

If he gets confirmed, we will see if he lives up to the hype. For the good of the country, I hope he does. I Just want Nigeria banks to start reporting using the international standards. Out of 23 banks (i think) only 4 or 5 report using the international standard, By the was his bank First bank started reporting in the international standard two months ago after joining the company in January.

noetic2:

I disagree.
I think this is quality opposition. Disagreeing with a person simply based on issues.

I will still vote fashola, but well done DPA.

Quality opposititon ? The article did not point out what was wrong with paying that amount within a two year period to the company (let us assume their number is right)? Is this not what you call outsoursing?

My main issue with the article is that they spent 50% of the article talking about their own candidate. In the U.S you do not see the Republicans mentioning the name of McCain when they oppose the Democrats. And you did not see it with Democrats mentioning (whomever  the Democrats candidate was), against a policy of Bush they disagreed with.

This is what you call campaigning for a candidate (not party) in the name of accountability

ABUJA—AN intense lobby of Senators to railroad the confirmation of Mr. Sanusi Lamido as the Governor of the Central Bank (CBN) has begun ahead of today’s Senate screening of the nominee.

Irrespective of the lobby from diverse interests, Senators objecting to the nomination of the Kano-born nominee were insisting on raising the issue of the alleged violation of the federal character principle in the nomination of Mr. Sanusi.

Meanwhile, the gulf between President Umaru Yar’Adua and members of the National Assembly on the implementation of the 2009 budget appears to be widening as yesterday’s meeting with the leadership of the House of Representatives and that of the ruling Peoples Democratic Party (PDP) National Working Committee (NWC) ended in a deadlock.

Sanusi: Lobbying in Senate

Senator Ikechukwu Obiorah (PDP, Anambra South) who wrote President Umaru Yar’Adua not to nominate Sanusi on the fact that his nomination would violate the federal character principle was one of the Senators insistent on raising the issue today.

Sanusi is from Kano, the same state with the Minister of Finance, Mansur Muhktar and the Minister of National Planning, Shamsuddeen Usman. The Chief Economic Adviser, Tanimu Yakubu is from Katsina State, next door to Kano.

The decision to screen the nominee in an open session was reached during a closed-door session of the Senate presided over by the President of the Senate, Chief David Mark. Also to be screened today is the Deputy Governor nominee, Mr. Tunde Lemo, who is being re-nominated for the post of deputy governor after the end of his first tenure.

President Yar’Adua’s letters dated June 1, 2009 nominating the duo were read on the Senate floor yesterday.
In his letter nominating Sanusi, President Yar’Adua wrote:

“In compliance with the provisions of the CBN Act (2007), I write to present the name of Mr. Sanusi Lamido Aminu Sanusi for the kind consideration of the distinguished membersof the Senate of the Federal Republic of Nigeria as Governor of the Central Bank of Nigeria.

“It is my wish that, in the usual tradition of the Senate of the Federal Republic, this will receive expeditious consideration. A copy of the Curriculum Vitae is attached for ease of reference.

“Please accept, Distinguished Senate President, the assurances of my highest consideration.’’

Umaru Musa Yar'Adua

In the letter seeking the renewal of Mr. Lemo as Deputy Governor, President Yar’Adua wrote:
Re: Renewal of Appointment as CBN Deputy Governor

“In compliance with the provisions of the CBN Act (2007), I write to present the name of Mr. Babatunde Lemo for the kind consideration of the distinguished members of the Senate of the Federal Republic of Nigeria of the renewal of his appointment as Deputy Governor of the Central Bank of Nigeria.”

Speaking to newsmen following the Senate session, Senate spokesman, Senator Ayogu Eze, said the Senate would carry out the screening in an open session of the Senate to be broadcast live on television.

He said the Senate decision was based on the sensitivity of the post.

http://www.vanguardngr.com/1/index.php?option=com_content&task=view&id=37102&Itemid=42

What is up with all this Fashola for president or fashola vs Yar'adua topic. Gosh!!!!!!!!!!!!!!!!!!!!!!!

The Opposition Democratic Peoples’ Alliance (DPA) has described Lagos State Governor Babatunde Fashola’s tenure so far as a bag of mixed blessings, but insisted that the party’s Candidate Mr, Jimi Agbaje would have run a more humane, more democratic, more transparent and more accountable government had he won the 2007 governorship polls.

DPA, in a statement by its Director of Publicity, Felix Oboagwina, said that the two years have shown that Lagos can still work, although it blasted the government for harbouring waste in the system and paying no less than N36 billion to the Alpha-Beta Consultancy Limited from the internally-generate d revenue of over N240 billion Lagosians paid in taxes in the last two years.

“You can count the number of businesses that make N2.1 billion a month on one finger. If you pour N36 billion into any sector for two years, you would solve its problems forever. But it is scandalous that this amount goes into private pockets,” DPA pointed out.

It acknowledged Fashola’s commendable achievements. But DPA said he had plagiarised its Candidate’s programmes and had failed to justify the colossal income accruing to his regime in the last two years.

The party felt its own Governorship Candidate in the last elections would have run a better government.

“Mr. Jimi Agbaje spent eight years preparing to govern Lagos and encapsulated his ideas in a blueprint he tagged ‘Caring, Thinking, Working.’ This programme Fashola has plagiarised without acknowledging its author,” DPA said. “If the photocopy has turned out so well, imagine how glorious the original would have been.”

According to DPA, Fashola was governing Lagos in a time of unparalleled earnings, enhanced internally generated revenue and oil windfall, and citizens should expect much from him.

However, the party complained that the Governor had failed to block areas of wastage, encouraged corruption and dehumanised Lagosians.

“Fashola’s programmes may be good but he has shown insensitivity to the human factor in governance. His programme implementation has failed to consider adequate rehabilitation, compensation and alternatives for displaced people being thrown out of homes, shops and businesses,” the statement said. “The unemployment rate has shot through the ceiling, with no visible plans for jobs, mass-oriented low-cost houses or an identifiable poverty alleviation programme.”

The party regarded the government’s much-vaunted BRT scheme as a bag of mixed blessings and evidence of one-way thinking that had failed to consider the complexity of the state’s transport problem. DPA said it had partially alleviated transportation headaches but led to increase in traffic holdups and transport fares,

Warning that the regime had failed to make accountability, transparency and quality control count in government contracts, DPA scored the regime low in failing to manage the human factor in the repercussions of development and for exhibiting impunity in its dealings with the public.

In all, DPA felt that Fashola could “shine as a performing Governor simply because of the ineptitude of his colleagues in other states; after all, in the country of the blind, the one-eyed man is king.”



here is the article form the website

Your article or DPA did not point out what the real problem is.

What is wrong in paying a tax collection company N36 billion for a 2 year period?

If they are the ones in charge of collecting taxes, paying their workers who go around Lagos state collecting tax, who look into companies record, etc.

DPA should point out the number of workers the tax company has and what are all the services the tax company provides or does not provide, that is if their numbers are acurate

I do not think Fashola is clean, though. DPA seem to have spent more time promoting their candidate, i guess the game for 2011 election has begun.

BARELY two months after his appointment, former National Chairman of the Peoples Democratic Party (PDP), Chief Barnabas Gemade has resigned his appointment as the Chairman, Governing Board of the Federal Housing Authority (FHA).

Works, Housing and Urban Development Minister, Dr. Hassan Mohammed Lawal, had about two months ago inaugurated Gemade as Chairman of the Board of FHA.

The Chairman, Senate Committee on Housing and Urban Development, Senator Ikechukwu Obiora had frowned at the appointment of Chief Gemade as Board Chairman and his brother, Terver Gemade as Managing Director of the same agency.


http://www.ngrguardiannews.com/news/article13//indexn3_html?pdate=020609ptitle=Gemade%20resigns%20as%20FHA%20board%20chairman&cpdate=020609

There was a tread earlier about father & son, but it was actually brothers

wow, sorry i did not know i posted it twice. Something happened to my computer, so I thought the first one did not go through. Sorry!!!!!!!!!!!!!

BARELY two months after his appointment, former National Chairman of the Peoples Democratic Party (PDP), Chief Barnabas Gemade has resigned his appointment as the Chairman, Governing Board of the Federal Housing Authority (FHA).

Works, Housing and Urban Development Minister, Dr. Hassan Mohammed Lawal, had about two months ago inaugurated Gemade as Chairman of the Board of FHA.

The Chairman, Senate Committee on Housing and Urban Development, Senator Ikechukwu Obiora had frowned at the appointment of Chief Gemade as Board Chairman and his brother, Terver Gemade as Managing Director of the same agency.

http://www.ngrguardiannews.com/news/article13//indexn3_html?pdate=020609&ptitle=Gemade%20resigns%20as%20FHA%20board%20chairman&cpdate=020609

I am sure some of you will remember the story about the father and son in the same agency, anyways it was actually brothers

Lagos State Governor, Babatunde Raji Fashola, has endorsed President Umaru Musa Yar’adua’s decision to retain the power to appoint the Chairman of the Independent and Electoral Commission (INEC), saying that the integrity of the electoral process would not necessarily be compromised if the president appoints the chairman and members of the electoral body.

Speaking in an interview with Channels Television on “Democracy at 10”, Fashola said “there is the National Population Commission; the chairman of that commission is appointed by the President.

Now, what significant difference do you have between a population enumeration exercise, counting people and electoral process counting votes? So why hasn’t there been hue and cry about who appoints the chairman of the National Population Commission, is the same President. In any event, take the argument to logical conclusion, if you take it to the judiciary who appoints the Chief Justice of the Federation the same president on certain recommended procedures and therefore it really doesn’t matter who appoints who, is not the big issue, the really issue is the character of the people appointed.”

He explained that “integrity is not who appoints the people. It is the integrity of the people who are appointed. And if you say the National Judicial Council should appoint them, you are taking executive functions and giving them to the judiciary. This would be dragging them into politics. And in any case, we cannot, as a nation, have solutions to our problems by throwing out things fundamental to the system. It is not just right. We only have to ensure that what is right has to be done. There should be no throwing out of the baby with the bath water. We must have confidence in ourselves to correct the ills. And there is no other population that will come and do it for us.

He added: “What is important is the integrity of the people appointed and their capacity to exercise the independence being guaranteed to INEC by the reform bills. The recommendation for the National Judicial Council to appoint the chairman and members of INEC is not in line with the fundamental process of the law. And remember, we are making laws for future generations and not just for perceived perceptions”.

The governor stated that the best safeguard against the abuse of the electoral process is the strict application of the law and the character of electoral officials. He argued that when those who violate the nation’s electoral laws are brought to book, there would be sanity in the electoral process.

President Yar’adua had rejected the Justice Muhammadu Lawal Uwais-led Electoral Reform Committee’s recommendation that the INEC chairman and members be nominated by the National Judicial Council (NJC), saying  the recommendation violates the principle of separation of powers in a democracy.

http://www.news.dailytrust.com/index.php?option=com_content&view=article&id=511:inec-charimans-appointment-fashola-backs-yaradua&catid=46:lead-stories&Itemid=140

OYB_MEND:

well it seems funny because you dont get it

These folks think ahead of you

Making charity donations with public money in a organisation where you have friends is a classical of diverting public funds

because after all the charade and public show of donations what actually happens to the fund is hardly tracked by members of the public

People are allowed to donate their Private Money where they like, but to donate an organisation's money to your own friends is dodgy

Nigerians dont know the various schemes of the corrupt

How do you know any of his friend work in the school now?

It was company money that went to a school. Do you have prove that the money is currently not been used for the purpose the money was donated? did you visit kaduna and see it for yourself?

If we are going by your rational then all this CEO's of BofA, Citigroup, Goldman, etc are doing something corrupt. Because all this CEO's donate to their University Alma-mater using company money. The thing is that its not wrong as far as its money meant for social responsibility, it just the schools luck that they had a successful Alumni.