See the list of those advising government not to arrest corrupt judges

[size=18pt]Sen. Joshua Lidani (Gombe South) Lawyer ,ABU trained

Sen. Chukwuka Utazi (PDP, Enugu North) ,Lawyer, UNN trained


Sen. Godswill Akpabio, Minority Leader of the Senate,Lawyer


Deputy Majority Leader, Ibn Na’Allah : Lawyer
[/size]

Corrupt Nigerian lawyers have hijacked our democracy!!!
Our hard worn democracy is at threat and we must recover our democracy from corrupt lawyers

Nigerians should wake up. Where are the sociologists, social scientists, criminologists,political scientists, engineers, pharmacists,architects,accountants,farmers,ASUU,NLC, etc.
Save our democracy before corrupt lawyers kill our democracy!!

Our democracy is at threat by corrupt lawyers!!! Nigerians shine your eyes. They are using our democratic institutions to protect their selfish professional interests. Lawyers are just a single professional group in the country, this is the time other professional groups should wake up!!
They criminally hijacked the third arm of government now they are using the platform of another arm to push and protect their selfish professional interest and other professionals and non professional senators in the Senate are watching like mumu.

NJC is clearly a technical interest group of The Nigerian Bar Association. Made by lawyers for lawyers while dubiously carrying the seal and authority of a whole arm of government. If NJC must be retained, its membership should be reconstituted to accommodate other stakeholders in the judiciary and membership should be by election. All elective posts should not be for lawyers

crazysam001:

I never knew what stupidity looked like untill i read your comment

What is stupid about it. NJC has become an extension of NBA. It's okay if NBA and lawyers have multiple layers of professional interaction but an attempt to equate the professional interests of lawyers through the instrument of NJC as the interest of a whole arm of government is fraudulent and unacceptable.

cktheluckyman:
\
NJC demystified!!! You must be high on expired cow dung!!! why did your DSS goi ahead to release the judges? The last has not been heard in this case.Anyone who thinks he can pocket the judiciary so thet he can do whatever he wants is on a very long thing.The NJC would sit today and state its position.

and to correct your illiteracy. [size=18pt]Judiciary is about laws and it must be lawyers who must be in charge.[/size]Just like an economist or accountant is in charge of the economy,a lawyer will be the one in charge of the judiciary.there is nothing you or your illiterate oga can do about it

You need to go back to school. Go and read if the whole system of law professional practice or the third arm of government was single-handedly developed by the lawyers who now in Nigeria arrogantly carried the stupid bigman syndrome into the third arm of government. Even in America which we copied our democracy from, the citizens have a stake through the jury system and the American society and democracy is not at the mercy of the shenanigans of the lawyers.
Go back to school, baby lawyer, it's the third arm of government because of the plurality of stakeholders not a birthright or meal ticket of one professional group.
An accountant or economist will never dubiously equate his professional interest as the interest of an arm of government.
It was Nigerians who carelessly abandoned their third arm of government to lawyers, we will fight to retrieve it and it has started.
Go ahead and ask those corrupt judges if they have been released. With the way this case is going, some of them will end up committing suicide like their American counterpart caught for fraud.
We have hundreds of professional groups none had committed the coup lawyers did in an arm of government. It's our arm of government, it's our judiciary not the Judiciary of the corrupt lawyers.
Buhari should take back our judiciary and third arm of government from the lawyers,their NJC and NBA

I read the different correspondences between the DSS and the NJC as unearthed by ThisDay Newspaper and I came to the conclusion that there are still patriots in the Land.
Apparently, for years some criminally minded lawyers have been hiding behind the NJC and using the NJC to intimidate other agencies, citizens etc.
From the letters, the NJC, like it would have done in the past, wanted to intimidate the DSS but they had their match in the DSS.It took the DSS reminding the CJN the law of the land before he approved that a corrupt Pindiga should go and face DSS. Imagine!! shocked
Now the NJC has been demystified not on the path of honor but shameful conduct.

The NJC is not an equivalent of the third arm, the judiciary is not made up of lawyers alone and little wonder some people practicing law in the bar and bench feel that they are the third arm of government. Third arm of government isn't NJC or NBA, it's what we permitted over the years.The citizens should henceforth take up more participation in the judiciary. We can start by pushing for a law for electing judicial officers and all elective slots shouldn't be for only lawyers or devolve the responsibility of the NJC so the Chief Justice just faces purely legal duties not the issues relating to discipline. We hired them, we pay their salary, we should have a way to punish them if they mess up like they have done in this manner. They promoted their selfish interest and professional camaraderie above the national interest.

The whole law setting up the NJC should be reviewed before they further disgrace the country.
I just realized that lawyers hijacked what should otherwise be the third arm of government of the people who make up the country, they hijacked the judiciary and relegated the other stakeholders(citizens,litigants,community leaders,local government, law enforcement agencies, prison, non lawyer professionals working in the judiciary etc) in the judiciary to the background and suddenly ascribe their professional interests as the interest of all the stakeholders of the judiciary. This is a coup!!!
The lawyers should be stripped of their dominance of the judiciary,it is our judiciary not the lawyers judiciary!!

It's time we restructure the judiciary.

Now I know there are still patriots in the Land. The crooks hiding behind the NJC wanted to intimidate the DSS but they had their match in the DSS.It took the DSS reminding the CJN the law of the land before he approved that a corrupt pindiga should go and face DSS. Imagine!!
Now the NJC has been demystified not on the path of honor but shameful conduct. The NJC is not an equivalent of the third arm, the judiciary is not made up of lawyers alone and little wonder some people practicing law in the bar and bench feel that they are the third arm of government. Third arm of government isn't NJC or NBA, it's what we permitted over the years.The citizens should henceforth take up more participation in the judiciary. We can start by pushing for a law for electing judicial officers and all elective slots shouldn't be for only lawyers or devolve the responsibility of the NJC so the Chief Justice just faces purely legal duties not the issues relating to discipline. We hired them, we pay their salary, we should have a way to punish them if they mess up like they have done in this manner. They promoted their selfish interest and professional camaraderie above the national interest.
The whole law setting up the NJC should be reviewed before they further disgrace the country.
I just realized that lawyers hijacked what should otherwise be the third arm of government of the people who make up the country, they hijacked the judiciary and relegated the other stakeholders(citizens,litigants,community leaders,local government, law enforcement agencies, prison, non lawyer professionals working in the judiciary etc) in the judiciary to the background and suddenly ascribe their professional interests as the interest of all the stakeholders of the judiciary. This is a coup!!!
The lawyers should be stripped of their dominance of the judiciary,it is our judiciary not the lawyers judiciary!!!

Corruption has started fighting back. Rubbish story probably fabricated by the Wike camp.
The Trent is one of those junk journalism for sale platform.
How come you didn't say that it was DSS that suspended judges even the NJC itself has recommended for prosecution done to preempt the eventual prosecution of all corrupt judges

When you fight corruption (the judges), corruption (judges) fight back. They know what they are doing, it's not for the love of country

sucess001:



so buhari's govt now hires youths to desecrate the hallowed hollow temple of justice...imagine!

Fixed .Since I discovered that your head is filled with sawdust

See arrogance,thanking NBA who is in cohort with the criminal judges. If he's not one of them, these man should be apologizing to Nigerians who have borne years of corruption in the Judiciary.
Nigerians will recover their country from your brothers ,NJC or no NJC. This is a serious indictment on you, Mr CJN and as a matter of fact, you lack what it takes to lead the NJC . These obscene culture of paying judges retired or suspended for committing crimes will be resisted vehemently. Corrupt judges must be jailed you can keep your paddy paddy NJC. Shiorr.

See arrogance,thanking NBA who is in cohort with the criminal judges. If he's not one of them, these man should be apologizing to Nigerians who have borne years of corruption in the Judiciary.
Nigerians will recover their country from your brothers ,NJC or no NJC. This is a serious indictment on you, Mr CJN and as a matter of fact, you lack what it takes to lead the NJC . These obscene culture of paying judges retired or suspended for committing crimes will be resisted vehemently. Corrupt judges must be jailed you can keep your paddy paddy NJC. Shiorr.

vengertime:
It turns out to be that one of the judges kidnapped wasn't part of the people dss was looking for. He has every right to file a case against dss or Buhari for putting him under psychological trauma. And DSS have to pay him N100billion . Only this mistake will finish DSS and Buhari.

Story for the gods. Even if na mistake, he just saw a tiny fraction of what thousands of innocent people awaiting trial are facing. There's no big deal about a judge, they are not doing anything special over what others are doing in nation building

Good. We're gradually getting there. God bless pmb

@Seun, Myndd44,lalastica
Please help us move it to front-page so people can join the search for the 'missing ' $7billion.
At this critical time, we need this money like kilode.

[size=18pt]Where's the $7billion Placed in 14 Banks?[/size]

Henry Olujimi Boyo

The report of 14 Nigerian banks which were appointed by the Central Bank of Nigeria as ‘Asset managers’ of Nigeria’s reserves was carried on the back page of The Guardian newspaper of October 5, 2006. Festus Odoko, the CBN’s Head of Corporate Affairs, confirmed in the report that “already, deposits worth $7bn representing part of the CBN’s ‘share of foreign reserves’, presently estimated at about $38bn, had been released to the banking consortium”.

Although Odoko confirmed that the appointment of the 14 banks was ratified by the Investment Committee of the CBN on Tuesday, October 3, 2006, the $7bn had apparently been quickly shared out the next day!

Thus, the CBN made good its promise to invite Nigerian banks with up to $500m consolidated capital base to a ‘foreign reserves banquet’, if they could also provide evidence of existing collaboration with internationally credible financial houses. The Guardian report however failed to clarify if the expected collaboration included management oversight or was simply a formalisation of a glorified foreign correspondent banking arrangement!

“Nonetheless, critics have wondered if 14 banks which laboriously raised their capital base to N25bn could also quickly raise an additional N35bn to meet the $500m benchmark required to manage the CBN’s reserves. On hindsight, it seems the apex bank may have quietly dropped this steep requirement so as to pursue its earlier declared agenda!



“Nigerians are generally unaware that with a stroke of the pen, the CBN committed our country to possibly its largest single venture ever! The question however is, who will benefit from this huge upfront payment for an anticipatory promise to grow our economy with active support from beneficiary banks? Yes, you have got it, the same 14 banks will smile broadly to their overseas partners’ vaults, since these banks recognise that the related cost, if any, of the $7bn largesse will certainly not exceed the usually very modest below three per cent prevailing international yield on such placements!

“Incidentally, the 14 favoured banks are not constrained to restrict application of the $7bn to address our own critical domestic infrastructural deficit, and they are therefore at liberty to invest internationally! It is disturbing, however, that while we go cap in hand in search of foreign exchange inflow from foreign investors, we are, simultaneously inexplicably, exposing our precious $7bn, for minimal or nil return, to a consortium of Nigerian banks which have a consolidated capital base of less than $3bn, without demanding some measure of collateral/audit/managerial control or equity participation. Curiously, the tenure and other details of the Memorandum of Understanding regarding this transfer of our vital asset have not been made public.

It will be foolhardy to expect that the largesse of an uncollateralised $7bn deposit or low interest credit will change the attitude of banks to supporting real sector investments, particularly the significant funding deficit of the SMEs. The bizarre strategy of a minimal return below three per cent on a $7bn ‘placement/investment’ is clearly amplified by the CBN’s willingness to conversely, simultaneously, pay between 12 and 17 per cent interest on funds it borrows from these same banks!

“Nonetheless, even if the 14 banks are willing to repatriate all or part of the $7bn back to the Nigerian capital market, it is not difficult to predict where their interests would lie: yes; the obvious destination would be further patronage of government’s Treasury Bills and bonds on which they can earn returns of up to 17 per cent, even when ultimately, the CBN simply sterilises hundreds of billions of naira it borrows from any socially impactful use. Thus, we may ultimately be paying oppressive interest rates to the same creditors whom we gleefully ‘gifted’ our savings for minimal consideration. This may probably be seen as the ultimate strategy in worst central banking practice!

“Odoko, the CBN mouthpiece, also claimed, in the same Guardian report under reference, that, ‘The $7bn represents the apex bank’s share of Nigeria’s foreign reserves!’ I beg your pardon! Apart from the very lucrative business of substituting naira for federally allocated dollars to build up reserves, what business did the CBN specifically do to earn $7bn? Evidently, Section 162 of the constitution does not distinguish any share of dollar reserves, strictly for the CBN. Our crude oil revenue belongs to the Nigerian people as constituted by the three tiers of government; thus, the National Assembly would have defaulted in their constitutional duties if the CBN is not invited to defend why $7bn of our reserves should be liberally advanced to 14 banks without oversight approval, while we still go cap in hand to beg for external loans!”

The preceding are excerpts from an article titled, “14 Nigerian banks to enjoy $7bn reserve”. The piece was first published in the Vanguard newspaper on October 9, 2006. Not surprisingly, barely two years after Prof. Chukwuma Soludo’s “celebrated” banking consolidation and confident assurances to the National Assembly that Nigerian banks were insulated from the global economic meltdown, most of our banks actually tittered on the verge of collapse. There is yet no confirmation that the 14 banks have repaid the $7bn given away in October 2006 by the CBN before the banking crisis erupted in 2008. Consequently, it is possible that Nigeria’s $7bn reserves may have ultimately “gone with the wind” during the ensuing financial crisis!

Nonetheless, between 2009 and 2010, during Lamido Sanusi’s tenure as the CBN Governor, such probable default still did not stop the banking sector from receiving additional largesse in excess of N5tn ($30bn) liberally created by the CBN and channelled through its surrogate, the Asset Management Corporation of Nigeria as interventions to rescue the banking sector.

Thus, the CBN’s misguided generosity notwithstanding, the banking community has remained resistant to providing the SMEs access to cheap funds to stimulate industrial rejuvenation, economic growth and increase employment opportunities. Incidentally, the CBN’s self-styled “own reserves” subsequently expanded well beyond $40bn to support the apex bank’s sporadic multi-pronged uncoordinated cash interventions to various groups. Paradoxically, soon after AMCON’s interventions, the banking sector bounced back with bountiful profit postings, despite a still largely comatose real sector. Consequently, unemployment, oppressive mass poverty and increasing national debt, unexpectedly have become increasingly burdensome! Ironically, in 2015, the banks also became prime beneficiaries of N600bn bonanza interest charges paid by the CBN for borrowing back excess naira balances which were earlier placed with zero interest by government and agencies in these same banks.

In the light of the severe economic implications of the current forex deficit, it is necessary for the Economic and Financial Crimes Commission to take a closer look at the circumstances and ultimate fate of the CBN’s extraordinary “deposit/loan/placement” of $7bn to 14 banks in 2006. Nigerians surely have a right to know. After all, if the $7bn largesse to banks was a widely reported media affair, one should also expect that the refund or the successful liquidation should have been heralded by a much more “in your face” media blitz to assure Nigerians of the exemplary sectoral competence, so that the wisdom of the CBN’s provision of this facility to the banks in the first place, would be appreciated.

Regrettably, however, despite the $7bn CBN’s largesse and $36bn AMCON interventions, there are indications that with non-performing loans now in excess of the precarious threshold of 50 per cent, the banks may again be in trouble without having fulfilled the public expectations of powering growth of the real sector or promoting the creation of more jobs. Worse still, the CBN may be again compelled to soak up more toxic debts and create fresh cash injections to once more bail out these banks, even when recent history shows that such interventions may fail to recharge the economy.


http://punchng.com/7bn-cbn-placed-14-banks/

50 Customers Owe Nigerian Banks N5.23 Trillion

Oyetunji Abioye

Fifty customers owe commercial banks the sum of N5.23tn, representing 33.4 per cent of the total private sector credit exposure of N15.68tn, the Central Bank of Nigeria’s Financial System Stability report has stated.

The FSS report, posted on the CBN website on Saturday, also showed that the nation’s banks gave N1.537tn loans to oil companies and some state governments in the first six months of the year.

“The total exposure to the top 50 obligors stood at N5.23tn (33.4 per cent) of total industry credit exposure of N15.68tn,” the CBN said in the report.



Although the report did not give the identities of the 50 big bank debtors, it indicated that non-performing loans in the period under review grew by 158 per cent from N649.63bn at end-December 2015, to N1.678tn at end -June 2016.

The NPL ratio rose to 11.7 per cent from 5.3 per cent, thus exceeding the prudential limit of 5.0 per cent, it stated.

It also said that as of June ending 2016, loans to oil and gas sector by the banking sector had hit N4.5tn, representing 28.77 per cent of the total industry loan.

The CBN noted that the development did not augur well for the industry well-being.

The 81-page FSS report stated in part, “Credit exposure to the dominant sectors is as follows: 28.77 per cent to oil and gas sector; 12.95 per cent to manufacturing; 8.84 per cent to governments; and 8.69 per cent to general commerce.

“Credit risk is expected to trend higher into the second half of 2016 owing to increased loan impairments resulting from the depreciation of the naira, inability of obligors to service foreign currency-denominated loans, as well as bank exposures to the oil and gas sector.”

A total of N1.204tn loan was given to the oil and gas while N333bn was given some state governments within the six-month period.

The report stated, “At end-June 2016, loans to the oil and gas sector constituted 28.77 per cent of the gross loan portfolio of the banking system as credit to that sector grew to N4.511tn, compared with N3.307tn at end-December 2015. Loans to state governments rose to N1,386.61bn from N1,053.97bn at end-December 2015, as declining revenues continued to constrain payment of salary by some states, funding of key services and execution of developmental projects.

“This was despite the CBN’s N338bn special intervention scheme designed to refinance states’ debts, as well as a debt restructuring programme introduced by the Debt Management Office, which enabled states to restructure their commercial loans in the preceding period. However, to prevent further financial crisis, a fresh facility of N90bn with a nine per cent interest rate was made available to the states.”

According to the CBN, the biting economic recession has made the market share of the five biggest commercial banks in the country in terms of total assets to decline by 17.3 per cent in six months.

The report read in part, “In terms of size of assets and deposit of banks, the market share of the five largest banks in the first half of 2016 declined to 43.30 and 51.96 per cent, from 60.61 and 52.94 per cent in the second half of 2015, respectively.

“The market share of the largest bank’s deposits and assets stood at 12.84 and 13.52 per cent, respectively in the first half of 2016. The remaining 18 banks had market shares ranging from 0.21 to 6.58 per cent in deposits and 0. 26 to 6. 41 per cent in assets, reflecting low competition in the market.”

Despite the improvement recorded relative to the first half of the year, the structure of the banking industry in the first half of 2016 remained oligopolistic, according to the report.

Economic and financial experts said the challenging economic situation had led to muted low growth in the banking industry with most banks scaling down drastically on their lending activities.

Most banks, they added, were now being preoccupied with how to clean up their books by recovering some of the huge NPLs in their books.


http://punchng.com/50-customers-owe-banks-n5-23tn/

right0100:
hehe...nice one Miss small boobs

Boobs is a matter of quality not quantity. I am talking from experience
Her husband will give anything for those quality boobs walahi

Ndidi onyuike-Okereke and soludo scammed Nigerians through bank recapitalisation shares purchase and fraudulent share price manipulation by these horrible banks through their illicit warehousing of their own shares using it's own subsidiaries yet nothing happened to them.I still don't know how these two people sleep at night.
This country ehn!!!!

Grundig:

Ozekhome cleared that up.
He said the portion jiti quoted could only be admidsible where thr person, in this case thr judges failed to honour an invitation.

You actually believe Ozekhome?? Ozekhome ke?? Out of all lawyers in the world, you expect Ozekhome to speak against corruption? Don't worry, people like ozekhome know that their time is up

I still don't know what was running through the mind of those NBA executive when they were foaming from the mouth yesterday. They actually thought Nigerians will fall for their bravado as if we don't know that some of them are hands in glove with these corrupt judges.

Akuko. Ghana did it and their judiciary is not even as terrible as ours. Every corrupt judge should be killed by firing squad
No person let alone a corrupt judge is above the law.

Boldstar:
I have read almost every comment on this thread. Every one is complaining but no one is giving suggestions for microbiologists who have reached a dead end in practising what they studied.

I believe SLT (Micro option.), Food Microbiologists, Environmental microbiologists, Med Lab Scientists (Micro specialists), and those who read just Microbiology in uni/poly are all microbiologists. What we need is deep collaboration amongst ourselves to help and develop each other. I am a Med Lab Scientist specialised in Microbiology. There are certain sectors where it is required by law to have certain certification before you can work. That is what Med Lab Science (Health sector) and SLT (industrial sector) is enjoying. But in ideal conditions, the jobs those sectors can provide is small compared to what can be gotten. In Nigeria, the gov't has not given any attention to research. Research has the opportunity to provide A LOT of jobs. Although the microbiology curriculum Nigeria offers is full of theory and no practicals (except for Med Lab Science curriculum), I believe if the jobs are created, the skills will be acquired through training and re-training by those who have it.

What we need to do as microbiologists in general is to come together under one umbrella and make serious advocacy to the ministry of science and technology to create funding avenues for research. Research options are abound in Health, Agriculture, Bioremediation, Biogas, Pharmaceuticals, bioinformatics and biotechnology especially using molecular genetics and nano technological techniques. And only research brings advancement in every facet of human life.

Multinational corporations in Nigeria prefer to support music than scientific research that can bring about national advancement. These companies, foundations, gov't and others should be made to pledge some sum of money to research annually.

This same issue affects those who studied Physics, Chemistry, Biochemistry and Physiology. Those who read biochem and physiology are mostly pharmaceutical reps these days. They rarely practice what they studied.

So my suggestion is creation of an umbrella that will go on a fruitful advocacy for microbiologists, irrespective of specialization, so as to create job opportunities for microbiologists especially in research and development.

The bolded just confirmed that you have not read the posts. Please read the posts again.Some of us on this thread are here for serious contributions and have no time for unnecessary exaggerations.

misscall247:
Yes sir.........BT im not dat small oo#smile

Wat u just said is true BT not limited to microbiology.......our educational system is a crap

Good. I'm sorry that I had to bully you with my age and experience. I just want to encourage everyone to quickly identify the knowledge gap in what you are being taught in the university and work hard to overcome that deficit.Ultimately,it will no longer matter how prestigious or not the course you studied is. I wish you best of luck bro

misscall247:
Who is this?.....is like u r bn confused by d micro attached to biology


see!!......Microbiology is a great/wonderful course,infact I will like to marry a microbiologists dat is knowledgeable in d field

But Jobs for microbiology can only b found in developed countries#very interestin course to study

Small boy, please calm down. You are an outsider and way too young and inexperienced , so let us who have made the mistake with microbiology and corrected our mistakes show others who are humble enough to learn the light.
Microbiology is presently overrated and the way it's taught is too theoretical.It is not a professional course for Godsake so they don't enjoy good pay despite being experts in their own right. If for example, I was taught how to use my microbiology to build at least a small scale cheese making company from the scratch,I can at least use that as insurance in the event that I opt out from the other areas microbiologists play secondary roles. Not everyone is your mate so learn to show some respect.

Still available

I think the greatest opportunity for microbiologist is in food microbiology. The other fields have licensed professionals to oversea them for example, in pharmaceutical, he works under the pharmacist, in lab, he will work under the pathologist or med lab scientist and if he goes into environmental, there are water engineers/environmental health officers and public analyst(a microbiologist who can pass the ipan exams can be a public analyst though) who are licensed professionals.
In food, they can produce fermented condiments, cheese, yoghurt ,beverages,bakery and largescale yeast manufacturing.
I think the course should have more of practical entrepreneurial content it's presently too theoretical in Nigeria.
Truth be told, it's overrated and except those in charge of training of microbiologist act fast, they will soon be another Zoology.
In the teaching of Biology, I will prefer a Zoologist or biochemist anyday.Most of the content of university Microbiology is not relevant to secondary school biology teaching

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biafran1stson:
FG should go to court & present their argument and stop running away from Ecowas court.

Ecowas court is ridiculing itself. It's meant for arbitration among member states or communities that belong to the member states. It doesn't have its own police, prison, and doesn't become a court of coordinate jurisdiction.In fact, it's completely laughable that the court will entertain a case outside its purview or a case already in court in any of its member states.
Nigeria may soon withdraw herself from the memorandum that set it up if it keeps going out of its jurisdiction.

08033626095