Connect with us

Nation

Failed Banks: Odili, Lafiagi, Others Fingered

Published

on

Senators on Tuesday named Nigerians who abused their positions in banks, borrowed loans worth N53.3 billion, and refused to pay them back, which made the banks to go under.

A report presented to the senate by its committee on banking, insurance and other financial institutions listed a former governor, a former managing director of banks as contributors to such collapse.

A letter dated June 27, 2008 sent by the Nigerian Deposit Insurance Cooperation (NDIC) to the senate NDIC committee attached a list of ‘insider credits’ of 13 closed banks as at June 2008.

But it noted that in view of the fact that the accounts are insider related, the records are constantly reviewed and reconciled.

Those listed include former Kwara State Governor, Mohammed Lafiagi (N1,156,776.57 unlimited personal guarantee); Sanusi Ado Bayero (N45,003,963.93); former Gulf Bank Managing Director, Babajide Rogers (N11,874,216.56); Chrome Services and Related Companies chairman, Emeka Offor (N3,850,016,620) personal guarantee of Offor and 100,000 units of ordinary shares of Environmental Remediation Holding Corporation, USA), and another N3,850,016,620 loan without guarantee.

Victor Odili, N41,103,498.56 – fixed and floating debenture on the assets of the company, N2,628,979.05; N10,856,129.75.

Owner of liquidated All States Trust Bank now Federal Airports Authority of Nigeria (FAAN) chairman, Ebitimi Banigo, Nta Henshaw, and others (N48,551,995,304.83); former Progressive Peoples Alliance (PPA) Governorship candidate Remi Bakare (N1,093,247,535.40); Mike Ajegbo (N210,291,896.21); C.M. Ibeto (N643,340,680.92); and former Information Minister, Dapo Sarumi (N3,847 743.90).

Oluwaogbon Motors chairman, S.O. Bakare (N544,585,269.86 and N21,311,398.59); former City Express Bank chairman, Samuel Adedoyin; former City Express Bank chief executive officer, Sola Adeoti, Former Minister of State for Health, Funke Adedoyin (N5,131,275,864.01); and Angela Onyeador (N30,755,363.13-legal mortgage).

Committee chairman, Nkechi Nwaogu, noted that 50 banks failed because of the huge debts that were never paid, including 36 which crashed before consolidation in 2005, and 14 after consolidation.

But less than two minutes after she read out the list, threatening death text messages flooded her mobile telephone, according to Eyinnaya Abaribe who sat beside her.

Based on the death threats, senate president David Mark, directed the inspector general of police, Mike Okiro, to provide personal security for all the 12 members of the committee immediately.

He lamented that the debtors could go to the extent of threatening the lives of the committee members when they are supposed to be ashamed.

Mark told the committee members: “You have performed wonderfully well and there is absolutely nothing for you to fear because you have done what you ought to do for your country.

“All those sending text messages to you should think twice about what they have done to this country rather than having effrontery to send text messages to you.

“All of us here take collective responsibility for this report. It is not a report from senator Nkechi Nwaogu”

Chairman, Rivers State Council of Traditional Rulers and Oba of Ogbaland, HRM, Eze Chukwumela Nnam Obi (right), with former Head of State, Major-General Muhammadu Buhari as guests at the first Marshall Harry Memorial Lecture in Port Harcourt, last Monday. Chris Monyanaga.

Chairman, Rivers State Council of Traditional Rulers and Oba of Ogbaland, HRM, Eze Chukwumela Nnam Obi (right), with former Head of State, Major-General Muhammadu Buhari as guests at the first Marshall Harry Memorial Lecture in Port Harcourt, last Monday. Chris Monyanaga.

Continue Reading

Nation

NEDC Distributes Palliatives To People With Disabilities In Borno

Published

on

The North East Development Commission (NEDC) has commenced distribution of palliatives to people living with disability in Borno State.
During the exercise on Saturday in Maiduguri Metropolitan Council, the Managing Director of the Commission, Mr Mohammed Alkali, said the gesture was in line with the commission’s mandate.
Alkali, who was represented by the NEDC Coordinator for Borno, Mr Mohammed Umaru, said the exercise started with the people with disability in Maiduguri metropolitant and would be extended to their members in the 26 LGAs of the state.
“What we are doing here today will also be done in remaining 26 LGAs of Borno.
“It has also commenced or has been done in other north east states as part of measures to ensure that everyone is given a sense of belonging in line with the NEDC mandate”, he said.
Responding, the Chairman of people living with disability in Borno, Mallam Mohammed Abubakar, thanked the commission for the gesture and assured of the leadership’s commitment to ensure fairness in sharing the 50 bags of rice and 50 cartons of spaghetti to its members in the metropolis.
Abubakar urged other organisations to emulate the gesture by the commission in reaching out to vulnerable groups in their support to victims of insurgency at this critical period.

Continue Reading

Nation

Tribunal Upholds Gov Alia’s Election 

Published

on

The Benue State Governorship Election Petition Tribunal in Makurdi on Saturday upheld the victory of Governor Hyacinth Alia of the All Progressives Congress (APC) in the March 18 Governorship Election.
Delivering the judgment, the Chairman of the panel, Justice Ibrahim Karaye, held that the tribunal lacked jurisdiction to entertain pre election issues raised by the petitioners, Titus Uba and PDP.
Karaye, who read the unanimous judgment, stated that only the Federal High Court had the exclusive jurisdiction to entertain issues bordering on pre-election matters.
He further said the petitioners’ case was also an abuse of court processes because the same case was filed by the petitioners before the Federal High Court Abuja Division and its judgment was not challenged by the petitioners.
He said the petitioners lacked locus standi to challenge the nomination of the 2nd and 3rd respondents by the 4th respondent since they were not members of the 4th respondent.
Justice Karaye further said that the petitioners failed to prove their allegations of forgery against the 3rd respondent before the tribunal.
He said the 2nd and 3rd respondents were qualified to contest the March 18 Governorship Election and therefore, dismissed the case.
The petitioners, Titus Uba and the PDP, had dragged the respondents, INEC, Hyacinth Alia, Dr Sam Ode, and the APC before the tribunal, challenging their declaration by the INEC.
The petitioners argued that the 2nd and 3rd respondents, Gov Alia and Dr Ode, were at the time of contesting the election, not qualified to contest the March 18 Governorship Election.
They averred that the 4th respondent – the APC – did not follow the provisions of the law in the nomination of the governorship and deputy governorship candidates.
They also alleged that the 3rd respondent had presented a forged certificate to the 1st respondent, INEC, therefore, should be disqualified.
They therefore, prayed among other things, for the nullification of their election and declare the petitioners as winners of the election, having scored second highest lawful votes.
They also contended that having not qualified to contest the election, their votes should be declared invalid and certificates earlier issued to them by INEC be withdrawn.
The Tide’s source reports that the petitioners in the suit did not challenge the result of the March 18 Benue Governorship Election but qualifications of the candidates.
However, the respondents in their counter arguments, urged the tribunal to dismiss the suit in its entirety as it was an abuse of court processes.
The respondents stated that the Federal High Court Abuja Division, had before the election, delivered judgment on the same matter which was filed by the petitioners but they did not appeal the judgment till date.
They also said the issues raised were all pre election matter and only the Federal High Court had the exclusive jurisdiction to entertain same.

The 2nd and 3rd respondents clearly stated that since the prayers sought by the petitioners were all pre-election matters, the petitioners case was status bar and should be struck out.

They said the petitioners lacked locus standing to challenge the nomination of candidates of other political parties as they were mere meddlesome interlopers.

Continue Reading

Nation

PDP Chieftain Makes Case For Culture, Tradition Maintenance 

Published

on

A Chieftain of the Peoples Democratic Party (PDP) in Osun State, Prince Dotun Babayemi, has called on traditional rulers and other relevant stakeholders not to allow culture and traditions to go into extinction.
Babayemi gave the advice in Osogbo on Saturday to commemorate the  Olojo festival celebration slated to hold between Septwmber 29 and October 2 in Ile-Ife.
The Tide’s source reports that Olojo festival is an ancient festival aimed at celebrating the remembrance of “Ogun”, god of iron, who is believed  to be the first son of Oduduwa, progenitor of the Yoruba people.
Babayemi said relevant stakeholders in Yoruba land should rise up to rescue the culture and traditions as well as the language of the race from going into extinction.
“We have to go back to the days of yore because our known valued ethos and mores are fast ebbing.
“Sadly, these are already taking tolls on our value system as reflected in the moral decadence pervading our society today.
“It is sad that gradually our culture is being submerged by modernity/ civilisation and this portends a great danger for the future of the culture and traditions of Yoruba race.
“Unless everyone rises up to rescue this avoidable cultural eclipse, the future of our culture and traditions will be in jeopardy”, he said.
Babayemi, who is also a former PDP governorship aspirant in the state, congratulated the Ooni of Ife, Oba Enitan Ogunwusi Ojaja ll, sons and daughters of Ile-Ife across the world on the celebration of the Olojo festival.
He said the constant celebration of  the festival would not make the coming generations to lose touch with the history of the race, thereby rekindling cultural renaissance.
“I want to sincerely congratulate our highly revered traditional ruler of Ile-Ife, Ooni Enitan Ogunwusi Ojaja ll, and the good people of the ancient town home and abroad on the celebration of Olojo Festival.
“Sincerely speaking, unless we sustain the tempo of celebrating our culture in Yoruba land in the challenging face of modernity/civilisation, coming generations will lose touch with our history.
“Moreso, we are blessed with relics, artefacts and other cultural events worth celebrating”, he said.
The party stalwart urged  custodians of Yoruba cultures and traditions to ensure cultural engagements that would continually ingrain the needed values in the subconscious of the younger generations.

Continue Reading

Trending