Monday, 24 February 2014
IS SANUSI GUILTY OF FINANCIAL RECKLESSNESS?????
GOVERNMENTS rarely fire their Central Bank governors. No matter the reasons, controversies would trail the decision, more so if it involves Mallam Sanusi Lamido Sanusi, a man who hugs the headlines.
Few governments too would have tolerated the defiance Mallam Sanusi applied to his brief. The CBN governor wrote the President accusing the Nigerian National Petroleum Corporation, NNPC, of not remitting $49.8 billion (about three times the nation’s annual budget) to the Federation Account.
He later blamed CBN’s Reserve Department for misleading him and told a Senate committee investigating the allegations that he had apologised privately to those his letter indicted, but there are indications that NNPC’s accounts are untidy.
MY STORY - SANUSI LAMIDO SANUSI (SUSPENDED CBN GOVERNOR).
In the beginning
As at the time I came into office, several things had collapsed. From banks to stock exchange, they had crashed. Inflation was at 15.6percent three months before I became Central Bank Governor; there was already instability in every sector of the economy. When I look back, I thank God for the people who supported us and criticized us as well because criticism has made us stronger. Also, when I look back, I can point to several things that have changed after our arrival and till date.
Keeping inflation down
For the first time in a long while, we have been able to keep inflation at about 7percent since January 2013 and it is still like that up till this moment. As far as instability and exchange rate is concerned, we have worked tirelessly to ensure things work out well for the economy.
PRESIDENTIAL MEDIA CHAT HOLDS AT 7PM TODAY.
Presidential Media Chat will hold today on the network services of the Nigerian Television Authority (NTA), the Federal Radio Corporation of Nigeria (FRCN) and the Voice of Nigeria (VON).
The programme, which is usually in a live broadcast will hold by 7p.m. This was contained in a statement by Special Adviser to President Goodluck Jonathan on Media and Publicity, Dr. Reuben Abati.
According to the statement, during the programme, Jonathan will respond to questions from a panel of journalists and media executives on current national issues and developments.
“All other radio and television stations in the country are urged to hook up to NTA and FRCN to relay the programme to their listeners and viewers,” the statement said.
NATIONAL ASSOCIATION OF NIGERIA NURSES AND MIDWIVES SUSPENDS STRIKE TILL NEXT WEEK
The National Association of Nigeria Nurses and Midwives, NANNM, has suspended its strike earlier scheduled to begin today by one week.
The suspension followed a dialogue between the leadership of the association and the Federal Government at the weekend, according to a release signed and made available to National Mirror yesterday by the National President and acting General Secretary of the Union, Abdrafiu Adeniji and Yusuf-Badmus respectively.
The planned strike, according to the nurses, who addressed journalists in Abuja last week, was necessitated by the failure of the Federal Government to implement an Industrial Arbitration Panel, IAP’s, judgment given in their favour 34 years ago.
TAMBUWAL HOLDS PRIVATE MEETING WITH EX-PRESIDENT OBASANJO.
The Speaker of House of Representatives, Aminu Tambuwal, on Sunday visited former President Olusegun Obasanjo in Abeokuta, Ogun State, where the two men held secret talks for almost an hour.
Mr. Tambuwal was accompanied by Kawu Sumaila, the deputy minority leader of the House, Ajibola Muraina, who represents Ibarapa Central/North of Oyo State, and Aminu Shagari who represents Sokoto State.
Speaking with journalists after the meeting, Mr. Tambuwal described Mr. Obasanjo as an African leader, who should be consulted on matters of national interest. The speaker said the members of the House of Representative came to tap from Mr. Obasanjo’s wealth of experience.
CBN ACTING GOVERNOR AND ALL OTHER DEPUTIES INDICTED FOR ALLEGED FRAUD AND RECOMMENDED FOR SACK.
Even though the CBN governor and the bank’s deputy governors were indicted and recommended for sack, the president moved against Mr. Sanusi alone.
The Central Bank’s new acting governor, Sarah Alade, and all of the bank’s deputy governors took part in the alleged squandering of billions of naira at the bank, and should be fired alongside the bank’s governor, Lamido Sanusi, the Financial Reporting Council’s recommendations, on which President Goodluck Jonathan based his suspension of Mr. Sanusi, has said.
NNPC: THE PLUNDERING OF NIGERIA.
A report by the Human Rights Watch, a New York-based pressure group, says “oil revenues have been misused, undermining democracy, facilitating corruption and depriving the public of important services.” The ongoing investigation of missing oil money only reinforces this terrible image. And the figures are eye-popping: they range between $10 billion and $20 billion within 19 months. It has never been this horrific.
Sunday, 23 February 2014
NO ORCHIDS FOR MALLAM SANUSI - DELE MOMODU
Fellow Nigerians, this has been another week of political brouhaha in Nigeria as the owners of the long knives moved in and cut the dagger’s man, Mallam Sanusi Lamido Sanusi, into shreds. SLS, as he’s fondly called by friends and foes, had committed one of those commonest mistakes in warfare, and it is a useful lesson for all. A good student of military strategy would have known you don’t pull a gun if you are not ready to fire. History is replete with tales of such calamitous and fatal errors. I had expected a man as voluble and volatile as SLS to appreciate that truism. For allowing President Goodluck Jonathan to fire the first shot, Sanusi now has to fight from a defensive position when he should have been the aggressor. But I won’t write him off.
By singing like a canary against the government he was serving, he should have known that he had grabbed a tiger by the tail and been ready for a battle royale. He should have made the first move by resigning honourably to create the time and space for unbridled pugilism. He would have made it impossible for his assailants to dictate the pace and tempo of the war. In fact, he would have thrown their camp into total confusion and disarray. From outside, it would have been easier to fire from all cylinders. But SLS allowed a rambunctious ego to get the better of him and lost the initiative from that moment. Once the President, who is the boss of all bosses, called him and asked him to resign, he should have known the contest had started and he could no longer relax in the dressing room.
Saturday, 22 February 2014
500L STUDENT OF UNIVERSITY OF IBADAN RAPED AND MURDERED.
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| LATE OMOLARA |
Yet another RAPE story..... Yet another murder.... Many are unreported. Which way Naija??????
Taiwo Omolara Shittu a 500L student of the Department of Aquaculture and Fisheries Management at University of Ibadan, was attacked and killed on the 19th of February at her sister’s home at Opeyemi street, Gbagi in Ibadan.
Her sister, who she lived with, returned home from work around 5:30pm on Wednesday to find Taiwo in the pool of her own blood, her pants down to her ankle, and a machete stained with blood on the bed.
She was reportedly attacked with a machete as there was an opening on her head. A man who cuts grass for her sister has been arrested and is currently being held at Alakia Adenubi police station in Ibadan. The man, said to be in his early 30s, has denied any involvement in the murder but it was the machete he uses to cut grass that was found in the crime scene.
The case has been transferred to the State CID.
May her soul rest in peace.
Friday, 21 February 2014
AMAZING - GUNMEN SNATCH EFCC'S SUSPECT AT IGBOSERE COURT, LAGOS....
Wonders shall never end in Naija.... EFCC claims that one of their suspects was snatched from the hands of armed prison warders by Gunmen who are now at large with the suspect abi victim.... lol
Read more.........
Four gunmen on Thursday, February 20, 2014 abducted an alleged serial fraudster and suspect in two cases being handled by the Economic and Financial Crimes Commission, EFCC.
The suspect, Princewill Arinze Nwobodo (alias Aboki J. Brown) was abducted by the gunmen within the precincts of the Lagos High Court, Igbosere where he was to be arraigned before Justice Aishat Opesanwo on a 4-count charge bordering on obtaining $ 92,000(Ninety-Two Thousand United States Dollar) under false pretence. The arraignment was deferred to March 27, 2014 as the court did not sit.
S TO DA K (SKALES) LEAVES E.M.E QUIETLY....
Raoul John Njeng-Njen popularly known as Skales, has left Empire Mates Entertainment owned by BankyW after the expiration of his contract.
Unlike the squabbles that had ensued with several artistes before, during or after leaving their label, Skales had exited E.M.E as quietly as a shadow.
He has removed E.M.E badges and signatures from all of his social media pages and handles except for his Twitter wallpaper which still carries the old label.He plans to move on with his own music label M.et.al and has re-directed all booking enquiries to new numbers and email addresses.
JUDGE CONDEMNS WIFE-KILLER (AKOLADE AROWOLO) TO DEATH.
The trial judge, Justice Lateefa Okunnu of an Ikeja High Court while delivering her judgment, Friday, found Arowolo guilty on a one-count charge of murder.
The judge relied on testimonies and evidences of fifteen witnesses including family members of the deceased, investigating police officers, photographers and Chief pathologist of Lagos State to make her judgment.
Mr. Arowolo broke down in the dock during the judgment and said many times while being taken away that he would not die of the judgment.
He shouted "Jesus Christ, I cannot die" many times as he was led away by prison warders.
This brings to an end the case which has received enormous interest from the media and civil organisations.
#SayNoToDOMESTICABUSE.
TACKLING RAPE EPIDEMIC IN NIGERIA.
NIGERIA is a country under the grip of rape. Hardly a day goes by without screaming headlines of bizarre cases of rape leaping out at embarrassed newspaper readers. It is either a law enforcement officer is taking advantage of a female suspect or a teacher his student, or a guardian, a father or some other intimate family members are violating their innocent wards, daughters, sisters or nieces.
This tidal wave of rape and other forms of sexual assault are doubtlessly a shameless advertisement of the extent of moral decadence and permissiveness in the society. Indeed, ours is a country in dire need of a higher level of morality and a timely intervention of the redemptive power of relevant state agencies. More than ever before, the innocent victims of rape are in need of protection from the reach of these marauding wolves in sheep’s clothing.
IS NIGERIA STILL THE WORLD'S INVESTMENT DARLING AFTER SANUSI'S SACK????
As Nigeria has shifted from a corruption-addled frontier state to one of the world’s few emerging market bright spots, it has been assisted enormously by the charisma and gravitas of two of its financial leaders. One is the coordinating minister for the economy and minister of finance, Ngozi Okonjo-Iweala, familiar on the multilateral bank meeting circuit for her strong leadership, candidacy for the world Bank presidency – and her colourful headscarves. The other is central bank governor Sanusi Lamido Sanusi, sharp-suited and sharper-minded. It’s never been entirely clear how well the two people, or at least their institutions, get along, but they present to the world a credible, smart, articulate face for a country whose finances have often been murky.
But now Sanusi, who was due to step down in June, has been suspended by President Goodluck Ebele Jonathan over allegations of “financial recklessness and misconduct.” Few in the west take these words – taken verbatim from a statement issued by the president through his media adviser, Reuben Abati – at face value, and the result has been to erode confidence in one of the few market darlings of frontier-spirited fund managers in recent years.
It’s fair to say that Sanusi has, from the outset, taken on the big fights.
Thursday, 20 February 2014
PROMINENT NIGERIAN AUTHOR "CHIMAMANDA ADICHIE" WRITES IN SUPPORT OF GAY RIGHTS.
Gifted author, Chimamanda Ngozi Adichie wrote this article titled 'Why can’t he just be like everyone else?. Rather shocking but taking into consideration the western influence on her, she might just have personal motives..
Read below..................
I will call him Sochukwuma. A thin, smiling boy who liked to play with us girls at the university primary school in Nsukka. We were young. We knew he was different, we said, ‘he’s not like the other boys.’ But his was a benign and unquestioned difference; it was simply what it was. We did not have a name for him. We did not know the word ‘gay.’ He was Sochukwuma and he was friendly and he played oga so well that his side always won.
In secondary school, some boys in his class tried to throw Sochukwuma off a second floor balcony. They were strapping teenagers who had learned to notice, and fear, difference. They had a name for him. Homo. They mocked him because his hips swayed when he walked and his hands fluttered when he spoke. He brushed away their taunts, silently, sometimes grinning an uncomfortable grin. He must have wished that he could be what they wanted him to be. I imagine now how helplessly lonely he must have felt. The boys often asked, “Why can’t he just be like everyone else?”
SHOCKING: JONATHAN SUSPENDS CBN GOVERNOR "SANUSI LAMIDO SANUSI" WITH IMMEDIATE EFFECT OVER FINANCIAL RECKLESSNESS.
In a desperate and rather shocking move, President Jonathan has suspended the Governor of the Central Bank of Nigeria, the outspoken 'Sanusi Lamido Sanusi', citing financial recklessness amongst other issues as basis. This comes just few weeks after the CBN Governor blew the lid on the non remittance of over $10bn oil money into Federal account by NNPC, a revelation that thoroughly embarrassed Jonathan and his cohorts who are building a financial war chest for the 2015 elections.
Read a statement from GEJ's Media Assistant below.......
Having taken special notice of reports of the Financial Reporting Council of Nigeria and other investigating bodies, which indicate clearly that Mallam Sanusi Lamido Sanusi’s tenure has been characterized by various acts of financial recklessness and misconduct which are inconsistent with the administration’s vision of a Central Bank propelled by the core values of focused economic management, prudence, transparency and financial discipline.
Being also deeply concerned about far-reaching irregularities under Mallam Sanusi’s watch which have distracted the Central Bank away from the pursuit and achievement of its statutory mandate; and being determined to urgently re-position the Central Bank of Nigeria for greater efficiency, respect for due process and accountability, President Goodluck Ebele Jonathan has ordered the immediate suspension of Mallam Sanusi Lamido Sanusi from the Office of Governor of the Central Bank of Nigeria.
FACEBOOK ACQUIRES WHATSAPP FOR A STAGGERING $19BN TO DOMINATE THE MOBILE SOCIAL PLATFORM.
The mega $19 billion deal between Facebook and Whatsapp has left the people talking about its worthiness. Though, Facebook founder CEO Mark Zuckerberg has explained as to why his company has agreed to pay a whopping $19bn to acquire the messaging service WhatsApp.
It may seem a pure business deal but the kind of money Facebook has agreed to pay the surging WhatsApp reveals the largest social networking site's ultimate aim: to remain on top of its competitors. So, it bought the most popular messaging service, the WhatsApp.
With acquisition of the service which already has around 450 million users, mostly youth, Facebook, which adds around 1.2 billion users monthly, will continue to stay at the heart of social networking.
Additionally, Whatsapp has a huge mobile user base and this deal is going to enable Facebook to dominate the mobile social platform.
Very much like what they did to Instagram, Whatsapp will remain a separate entity, as explained by Mark Zuckerberg in the statement he released after Facebook's decision to buy the messaging service.
Read Mark's statement after the cut.................
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