Mr Olumide's Blog .com |
- Sunday Morning Accident At Lekki Toll Gate, Lagos Leaves Many Badly Injured (Graphic Photos)
- Billionaires' Fight: Arthur Eze, Ngozi Olejeme Battle Over Money
- 2019: Obasanjo’s Coalition In Dilemma Over Choice Of Party
- Trouble For Nigeria As Global Financial Body Meets Today?
- Bishop Oyedepo Removes Tuition For Agricultural Sciences In Landmark University
- Billionaire Femi Otedola's Only Son & Heir (Photos)
- I Won’t Be Manipulated By Okorocha If I Become Imo Governor — Son-in-law
- "N30Billion Looted By NSITF Board Members"
- Obasanjo Visits Graveyard of 73 Innocent Nigerians Killed by Herdsmen in Benue
| Sunday Morning Accident At Lekki Toll Gate, Lagos Leaves Many Badly Injured (Graphic Photos) Posted: 11 Mar 2018 04:50 AM PDT  The accident left several people badly injured. Many of them can be seen in the photos as they lay motionless on the ground. More photos...    Operatives of the LASEMA Response Unit (LRU) towing truck removed the vehicles while the Lagos ambulance also provided medical support.  culled from Olu famous Mr Olumide's Blog |
| Billionaires' Fight: Arthur Eze, Ngozi Olejeme Battle Over Money Posted: 11 Mar 2018 04:25 AM PDT  The lender and Olojeme's long standing associate, Prince Arthur Eze is frustrated that repayment of the alleged loan is not forthcoming, and prays an Abuja High Court to compel her to pay. The loan, according to Eze's suit, is in two parts: $2.8million and N240 million. He said the agreed repayment dates for the funds have long expired without any attempt by the defendant to settle the debt. Attached to the suit are 39 pages of Eze's Oranto Petroleum Limited's domiciliary and Naira-denominated bank statements detailing dates and amounts transferred into Olejeme's accounts. Eze, in an affidavit in support of his claims, said that even though the interest -free loans which he began to disburse after discussions with Dr. Olejeme on April 2, 2014 were meant to be refunded before the end of 2016, the only response he received after issuing a demand letter was that he may have to wait indefinitely till she is through with her challenges from the Economic and Financial Crimes Commission (EFCC). The EFCC is currently investigating an alleged N69bn fraud in the Nigeria Social Insurance Trust Fund (NSITF) during Olojeme's tenure as chairman. She was appointed to the position by former President Goodluck Jonathan. Eze, in the affidavit added: "Unless ordered by this court, defendant will continue to remain indifferent to the demand to repay the loan. "Between April 2, 2014 and March 25, 2015, Plaintiff (Eze) availed the Defendant (Olejeme) the total sums of two million, eight hundred thousand United States Dollars (US$ 2, 800, 000) and two hundred and forty, million naira (N240 , 000, 000) through her domiciliary account and current account respectively with Fidelity Bank Plc , Abuja. "A breakdown of the dollar denominated loans shows that the Defendant received the said sums in five instalments, namely: US$1,000,000; US $700,000; US $1,000,000; US $50,000 and US $50,000 on 2/4/2014, 31/10/2014, 5/2/2015, 16/2/2015 and 25/3/2015 respectively; the bank statements evidencing the payments is herein attached and marked exhibit 'B". For ease of identification and reference, the entries against the Defendant are encircled and ticked. "That also a breakdown of the Naira-denominated loans shows that the Defendant received the said sums in six instalments namely N10,000,000; N40,000,000; N50 ,000,000; N50,000,000, N50,000, 000 and N40,000, 000 on 25/7/2014, 14/8/2014, 27/8/2014, 21/10/2014, 27/10/2014 and 6/11/2014 respectively ; the bank statement evidencing the payments is herein attached and marked exhibit C. "That the date line agreed upon by the parties has long effluxed without the Defendant coming to terms with her indebtedness prompting the Plaintiff to instruct her solicitor, Chief G.Tagbo to cause a demand letter to be written to the Defendant dated 29/1/2018 wherein a fourteen days ultimatum was given to the Defendant to make good her indebtedness to no avail. "Plaintiff's solicitor letter of demand was dispatched to the Defendant through Red Star Courier Service; Copies of the said demand letter and courier consignment note are herein attached and marked exhibits 'D & E" respectively. "The Defendant, upon the receipt of the said letter, merely deployed her personal aides to plead to me for time as she was having corruption issues with Economic & Financial Crimes Commission." Efforts to seek clarifications from Dr. Olejeme yielded no fruits as she declined to respond to calls and text message sent on Friday evening.  culled from Olu famous Mr Olumide's Blog |
| 2019: Obasanjo’s Coalition In Dilemma Over Choice Of Party Posted: 11 Mar 2018 04:15 AM PDT  With 341 days to the commencement of the 2019 general elections, the Obasanjo-inspired Coalition for Nigeria Movement (CNM) remains undecided on which party to pitch its tent with. While some loyalists of the former President are in favour of working with the Peoples Democratic Party (PDP), some prefer the Social Democratic Party (SDP), while some are agitating for a party which will be an hybrid of politicians from PDP, SDP, the All Progressives Congress (APC) and others. Investigation by The Nation revealed that despite Obasanjo's personal membership drive for CNM, the group is in a dilemma over the platform to use. Its planned growth into a "a third force which must put the youth of the country at the forefront in the struggle to rescue the country from the muck it is enmeshed in," also appears stunted. Obasanjo, in outlining the vision of the Third Force on January 24 had spoken of "one choice left to take us out of Egypt to the promised land. And that is the coalition of the concerned and the willing – ready for positive and drastic change, progress and involvement. Change that will give hope and future to all our youths and dignity and full participation to all our women." Many Nigerians, especially politicians being recruited into CNM, are now worried that the group is yet to be decisive three months to the governorship poll in Ekiti State and six months to that of Osun State. Some of those who have opted for CNM are of the view that the group should have "a bearing" by now as was the case with APC which spent two years to plot the ouster of the administration of ex-President Goodluck Jonathan and PDP. A highly placed source who is familiar with development in the CBM said: "Obasanjo and some members of CNM are not interested in collaborating with PDP against APC. "Having torn his PDP membership card, it would amount to a volte face for Obasanjo to work with the same structure. "Some CNM leaders and loyalists of Obasanjo have a strong opinion that PDP is a solid and subsisting opposition structure which could be better for CNM." The source said some leaders of CNM find it difficult to work with Prof. Jerry Gana, Prof. Tunde Adeniran, Chief Olu Falae, Shehu Gabam and some SDP leaders who they suspect to be loyalists of former Military President Ibrahim Babangida and a former Minister of Defence, Gen. Theophilus Danjuma. "Since Obasanjo defeated Falae in 1999 presidential election, they have not been sharing any political affinity. Even Falae had to support the candidate of the Labour Party, ex-Governor Olusegun Mimiko against a PDP candidate in Ondo State," the source said. "The third alternative is to look for a neutral party which will accommodate elements from APC, PDP SDP and other parties. It is a kind of an hybrid party. "There is no consensus on where we are headed. Yet, the CNM wants to use the July poll in Ekiti and the September elections in Osun as a litmus test for 2019 general elections." But a reliable source in CNM said: "There is a lot more to the coalition. Other than ex-President Obasanjo, no one can say which platform we will use. There is no point rushing to a party or forming one just to fulfil all righteousness. "The political situation in the country is still very fluid. Look at what is happening to APC "Forming a party is not an end in itself; it is a means to an end. Our ultimate objective is the Presidential Election, we believe time is still on our side. "Those who want to join the CNM are still in APC and PDP. We are waiting for prime movers who are still in APC and PDP." In a chat with our correspondent last night, a leader of CNM, Chief Akin Osuntokun (a former Managing Director of the News Agency of Nigeria) said the group will collaborate with SDP in Ekiti State during the governorship poll in July. He said: "We are doing that (collaboration) with SDP because it is inevitable election is coming and we have to be mindful of the timeline. "It does not mean we (CNM leaders) have finally resolved to work with SDP. We have only asked our people to contest on SDP platform." There have been speculations that the Coalition for Nigeria Movement (CNM) may recommend any of the three ex-governors it is wooing as presidential candidate in 2019. The ex-governors are Rabiu Kwankwaso, Sule Lamido, and Ibrahim Shekarau who are all from the North-West as Buhari. The CNM claims to be a movement that "seeks to promote and ensure socio-economic development, improvement, growth, social justice, egalitarianism, cohesion, cooperation, equity, equality of opportunity, transparency, societal order, rule of law, human security and human rights leading to national unity, good governance and general well-being and the welfare of all citizens and inhabitants of Nigeria."  culled from Olu famous Mr Olumide's Blog |
| Trouble For Nigeria As Global Financial Body Meets Today? Posted: 11 Mar 2018 03:45 AM PDT  A fortnight ago, the news media was abuzz with report expressing worries over the imminent expulsion of Nigeria from the Egmont Group of Financial Intelligence Units. To say the fears over plans by the Egmont Group to expel Nigeria from the global body were real is simply stating the obvious. The frenzy and fear was literally writ large, to say the least! The fear has been further heightened as the Egmont group meets from 11th to 16th of March, 2018 in Argentina, ostensibly to seal Nigeria's fate. Expectedly, the question is if Nigeria fails to comply with the group's demand for a legal framework granting autonomy to the NFIU will the country be expelled from the global body, which provides the backbone for monitoring international money laundering and terrorist financing activities? But how did we come to this sorry pass? A plausible explanation would suffice. Tracing Nigeria's travails at Egmont Group Efforts to make the NFIU independent dates back to 2004, but the nation's anti-corruption agency never though it wise to comply with this till date. The body would have been created in Nigeria long before now but for the lobby of the Economic and Financial Crimes Commission (EFCC) to have the NFIU domiciled in the Commission, which Egmont Group does not want. The Nation can also reveal that Mr. Stephen Oronsaye, former Principal Secretary/Permanent Secretary to the President (Obasanjo), Permanent Secretary Ministry of Finance and former Head of Service, currently facing multiple court charges the EFCC under Lamorde filed against him because of his support for the domiciliation of the FIU, Nigeria in the Central Bank of Nigeria (CBN). He got involved as a 'Nigerian Coordinator' of FIU, Nigeria while he was in government as his official functions then demanded and has continued his support for an independent FIU, notably to be domiciled in CBN. The Chairman of the House of Reps Committee on Financial Crimes, Mr. Kayode Oladele, a lawyer and former Chief of Staff to the immediate past Chairman of the EFCC, Ibrahim Lamorde, has been the chief lobbyist in the House to ensure that FIU law contains a provision making it to be domiciled in only the EFCC. This is just as the Chairman, Senate Committee on Anti-Corruption, Senator Chukwuka Utazi, whose Committee ratified CBN as the FIU focal point been involved in what some event watchers described as 'personality clash' over who has the power to abrogate on the matter to the detriment of the country. Investigation by The Nation also revealed that the proposal to separate the NFIU from the EFCC pitted the acting-chairman of EFCC, Ibrahim Magu, against Attorney-General Abubakar Malami for months. However, things came to a head last July when the Egmont Group suspended the country. Why Nigeria was suspended last July Nigeria's suspension from the Group in July last year, with the benefit of hindsight was due largely to the absence of operational autonomy for the Nigeria Financial Intelligence Unit, domiciled as an administrative FIU in EFCC at the moment. The Toronto-based Group also fingered absence of confidentiality in the handling of financial intelligence by the EFCC. Curiously, the fact of Nigeria's suspension was treated as inconsequential by the authorities concerned. Available information obtained from the Co-Chairs' Statement at the 24th Plenary of the Egmont Group of Financial Intelligence Units further stated that Nigeria was punished for reasons germane. The 24th Plenary which held in Macao, SAR (China) from 2-7 July 2017 was attended by 354 participants who were representatives of 112 FIUs, 11 observer organisations, and eight international organisations. They discussed the challenges FIUs had been facing in combating money laundering, associated predicate offences, and terrorist financing. The plenary was co-chaired by Mr. Sergio Espinosa, Chair of the Egmont Group of Financial Intelligence Units/Deputy Superintendent of FIU-Peru and Ms. Deborah Ng, Head of GIF, Macao, SAR. The Co-Chairs congratulated KwFIU, Kuwait and FIU Sudan, as new Egmont Group members following their endorsement by Heads of FIU. This brings the membership of the organisation to a total number of 156 FIUs. At the Session, Heads of FIU decided by consensus, to suspend the membership status of the NFIU, Nigeria, according to the Group, "following repeated failures on the part of the FIU, (Nigeria) to address concerns regarding the protection of confidential information, specifically related to the status of suspicious transaction report (STR) details and information derived from international exchanges, as well as concerns on the legal basis and clarity of the NFIU's independence from the Economic and Financial Crimes Commission (EFCC)." The body noted that, "the measure will remain in force until immediate corrective actions are implemented." The FIU, Nigeria is now excluded from all Egmont Group events and activities. The Egmont Group expressed its hope that the Nigerian authorities will address these concerns to enable the Egmont Group to lift the suspension as soon as possible." The concerns include absence of an Act of the National Assembly creating an independent Financial Intelligence Unit. It should be understood here that the Group does not approve of the one, (Administrative FIU) the EFCC created in 2007, which does not treat suspicious financial intelligence it gets with confidentiality. Echoing similar sentiments, Anthony Ogbeide Ehilebo, lawyer who spoke in a monitored television magazine programme in Abuja, revealed that from available information, " It was a simple annoyance from another government that sent information to the system and Nigeria took it raw from the file and sent it to the media- it found its way to Saharareporters. This was the reason why we were suspended from the Egmont server since June 2017. It means we've been blind to financial information, especially Suspicious Transaction Report (STR) since June 2017." Outcry over planned expulsion of Nigeria Expectedly, a civil society organisation, the Media Initiative against Injustice, Violence and Corruption (MIIVOC), said it portends grave danger for the nation's economy, particularly the risk perception against much-desired investment, if allowed to happen. Executive Director, MIIVOC, Dr. Walter Duru, has already petitioned President Muhammadu Buhari, to take urgent steps in the last six days, to avert the looming danger- Nigeria's expulsion from the Egmont Group of Financial Intelligence Units. Duru, who made the call in Abuja recently, expressed concerns over the development, arguing that when Nigeria is expelled, it will be listed as a high-risk jurisdiction country, with far reaching implications on the economy. He blamed Nigeria's present suspension from the group on the absence of operational autonomy for the Nigeria Financial Intelligence Unit, as well as the absence of confidentiality in the handling of financial intelligence, calling on the National Assembly to quickly hold a Conference Committee meeting, harmonise its report and transmit same to the President for immediate assent. "Nigeria was suspended by the Egmont Group of FIUs in July, 2017, following the absence of operational autonomy for the NFIU, among other related concerns. The failure of Nigeria to pass a law making the NFIU independent is the main issue. "At the moment, both the Senate and the House of Representatives have passed a bill to address this, but, for a few concerns. The main discrepancy is where the agency will be domiciled. There is a near consensus that it be domiciled in the Central Bank of Nigeria (CBN). There is no doubt that the CBN is Nigeria's best bet for now. Even if the bill is not perfect, let it be finalised and transmitted immediately, while amendments come later. We must avert this imminent danger." The civil society activist stressed that when expelled, Nigeria will no longer benefit from financial intelligence shared by the other 156 member-countries, including the United States of America and the United Kingdom, while the country's ability to recover stolen funds abroad will be hampered. "Another major consequence will be the blacklisting of Nigeria in international finance, and this could affect the use of credit cards, as the credit lines offered by corresponding banks would be cut off. In fact, financial instruments from Nigeria may not be honoured abroad. "The blacklisting of Nigeria in 2001, for instance, prevented the banks from engaging in correspondent banking with foreign institutions and also denied Nigerians access and ability to use foreign credit cards," he said. This same concern has been raised earlier by the President of the Association of Bureau De Change Operators of Nigeria (ABCON), Aminu Gwadabe, who said the country does not need such experience before taking action. ABCON boss has long called for end to the delays, warning that it portends dangers for the entire financial market. According to Gwadabe, should such suspension occur, Visa, MasterCard and other credit cards issued by Nigerian financial institutions would be rejected by global financial institutions. Another adverse implications, he said, is that it would derail the anti-corruption war as recovery of looted funds abroad and other follow up by anti-corruption agencies will be hindered, making cooperation by sister global corruption agencies difficult. What Nigeria stands to lose? In the view of economic analysts, Nigeria will face blacklisting in international finance. Thus the immediate consequence is that this could affect the use of credit cards, as the credit lines offered by corresponding banks would be cut off. In fact, financial instruments from Nigeria may not be honoured abroad. Besides, expulsion could also affect the international rating of Nigerian financial institutions, restricting their access to some major international transactions. It is also instructive to note that Nigeria's membership of the Egmont Group ensured the removal of Nigerian banks from the blacklist of international finance. The blacklisting of Nigeria in 2001, for instance, prevented the banks from engaging in correspondent banking with foreign institutions and also denied Nigerians access and ability to use foreign credit cards. The economic pundits would rather the President Buhari and leadership of the National Assembly should gird up their loins in public interest by passing the FIU Bill and the president should sign it into law, lest the country's economic headache will worsen.  culled from Olu famous Mr Olumide's Blog |
| Bishop Oyedepo Removes Tuition For Agricultural Sciences In Landmark University Posted: 11 Mar 2018 01:00 AM PST  A commendable act.  culled from Olu famous Mr Olumide's Blog |
| Billionaire Femi Otedola's Only Son & Heir (Photos) Posted: 11 Mar 2018 12:25 AM PST      culled from Olu famous Mr Olumide's Blog |
| I Won’t Be Manipulated By Okorocha If I Become Imo Governor — Son-in-law Posted: 11 Mar 2018 12:00 AM PST  Okorocha's endorsement of Nwosu had sparked a row in the state. Nwosu, who spoke in an interview with The Punch, dismissed the insinuation that he would be manipulated to do the bidding of Okorocha if elected as governor. He said, "This is another tool of blackmail employed by mischievous politicians who have been dislodged in the state. Some people are saying they do not want me to be governor because I am Okorocha's son-in-law. They claimed that if I become governor, Governor Okorocha would manipulate me and tell me what to do. If tomorrow they say Uche Nwosu is the governor, Okorocha will not say, 'let me give him a list' like other people do." He advised other governorship aspirants in the state to discuss their plans and programmes for the people of the state instead of criticising his ambition because he is an in-law to the governor. He added, "Yes, I am a son-in-law to Rochas Okorocha and I am very much proud to be his son-in-law. In most of the countries of the world, let me just start with (United States) President Donald Trump; his son-in-law is an adviser and America never went up in flame. George Bush was the President of the United States and after his tenure, his son became President and America never went haywire. "Governor Okorocha will not impose somebody on the people. Naturally, the time will come when the people will choose who they want to govern them."  culled from Olu famous Mr Olumide's Blog |
| "N30Billion Looted By NSITF Board Members" Posted: 10 Mar 2018 07:30 AM PST  The boards inaugurated by the minister include those of the National Productivity Centre (NPC), National Directorate of Employment (NDE), and Michael Imoudu National institute for Labour Studies (MINILS). LEADERSHIP recalls that the president had in October 2017 constituted the board of the NSITF with the former president of National Union of Petroleum and Natural Gas Workers (NUPENG), Chief Frank Kokori, as the chairman. However, giving reasons why the board was not inaugurated alongside others yesterday, Ngige said he had the consent of the president to stay action on inaugurating the NSITF board the pending the outcome of the administrative enquiry recently set up by the ministry to investigate the mindless looting of the agency. The minister urged members of the other boards so inaugurated to be accountable in the discharge of their mandates to avoid a repeat of the rot in the NSITF. Ngige said: "The operations of the various parastatals must strictly conform to financial regulations, especially Section 32 and the provisions of the Procurement Act. The audited accounts of the parastatals must always be prepared and submitted to the relevant authorities as and when due. "The NSITF, for example, is reeling from massive looting with no audited account for five years. A whooping sum of N5billion was unearthed by an audit panel of enquiry as having been taken out of the NSITF coffers with First Bank in a single day without vouchers. "Worse still, the organisation maintained no cash book as required by financial regulations. This resulted in massive looting of funds by board members acting in concert with the management staff. "When we say N5billion was taken in one day, that's not the only amount missing. Over N30billion cannot be accounted for and the members of the past board participated actively in the looting."  culled from Olu famous Mr Olumide's Blog |
| Obasanjo Visits Graveyard of 73 Innocent Nigerians Killed by Herdsmen in Benue Posted: 10 Mar 2018 07:10 AM PST  Obasanjo was received at the airport by the Benue State Governor, Samuel Ortom and other members of his cabinet. See more photos below;     Photos by The Punch's John Charles  culled from Olu famous Mr Olumide's Blog |
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