Saturday, November 1, 2014
Adamawa sends Vehicles to evacuate IDPs in Camps.
Adamawa sends vehicles to evacuate IDPs in camps.
The Adamawa State Government has
deployed vehicles in the camps of Internally
Displaced Persons in the state to evacuate
the embattled residents in the refugees
camps.
This move, NAN reports, following continuous
attacks on Mubi and other areas of the state
by the Islamic fundamentalist group, Boko
Haram, which the military has yet to be able
to contain.
Meanwhile, Governor James Ngilari has
expressed “pain” over the number of people
who had been killed and injured in Mubi by
suspected terrorists.
Punch
Chelsea beat QPR 2-1 at Stamford Bridge.
Boko Haram releases New. Debunked Cease fire. Says kidnapped girls converted to Islam and married off.
According to the source, in the new video Shekau dismissed the much-publicized ceasefire with the Nigerian government as announced by Nigeria's military chief, Alex Badeh, whose hometown of Vintim was captured today in Adamawa State.
Read More…
http://bit.ly/1wQYD92
More than 30 killed in Gombe Bomb Blasts on Friday.
No fewer than 30 persons were killed on Friday when a bomb was detonated by some suspected Boko Haram insurgents at a bus terminus in Gombe.
Some residents of the town, who spoke to our correspondent, said the blast occurred at about 9am when the bus terminus was full with travellers.
The residents claimed that about 30 corpses lied at the bus terminus immediately after the explosion
Source Punch
Mubi's Attack: Terrorists kills Emir's son.
Following Wednesday’s attack by Boko Haram terrorists on Mubi, the economic nerve center of Adamawa State and the subsequent attacks on Thursday, reports said yesterday that the house of the Chief of Defence Staff, Air Chief Marshal Alex Badeh has been burnt down.
Source Vanguard http://goo.gl/I0PyY6
Police officer commits suicide in Kaduna.
DSP Nanbol Audu, the police officer in charge of the Kaduna State Police Command’s armaments who was arrested last week, was found dead in the early hours of today.
Source SaharaReporters http://goo.gl/Sau0lc
Muma G joins Politics. ....Show up Nomination Forms
Today's Headlines
**Federal Government to spend N1.5 trilion on universities in 5 years
**Shekau denies cease fire, says Chibok girls have converted to Islam
**Oyo Guber 2015 : Akala jittery ahead of PDP Ward Congress
**2015 : Tafawa Balewa’s son to drag PDP to court over presidential form
**Keshi returns, names Ike Uche, 24 others to Super Eagles for AFCON qualifiers
**Jonathan in meeting over Bayelsa Senatorial seats
**$9.3 million arms cash was a set up, says Pastor Ayo Oritsejafor
**Ebola scare in Lagos motor park
**Atiku wants to hijack UPN from me – Frederick Fasehun
**Police defend withdrawal of Speaker’s security
**Okada riders defy government return to Lagos roads
**PDP mounts pressure on **Alamieyesiegha to drop senatorial ambition
**El-Rufai picks gubernatorial form, says rescuing Kaduna is inevitable mission
Thursday, October 30, 2014
Fulani herdsmen donate N98.1m For Jonathan’s Form.
‘Fulani Herdsmen, Others Donate
N98.1m For Jonathan’s Form’
By George Agba.
President Goodluck Jonathan will today
pick the Peoples Democratic Party (PDP)
nomination form for the 2015 presidential
election.
This is even as he has realised of
N98.165million as donations made to
him by both corporate and individual
donors to enable him pay the required
N22 million for the PDP presidential
nomination fee and expression of
interest form.
While Miyetti Allah Kautal Hore, the
national body of Fulani herdsmen,
donated the sum of N5million, with other
groups like National Association of
Widows donating hundreds of thousands
of naira, the PDP Governors’ Forum and
the Transformation Ambassadors of
Nigeria (TAN) donated the highest
amount of N22million each.
Special adviser to the president on
media and publicity, Dr Reuben Abati,
who stated this while briefing State
House correspondents, said the
president thanked all Nigerians, including
members of the PDP, his friends,
associates, and all other groups who out
of appreciation of the achievements of
his administration in the last four years,
had been urging him to seek a second
term in office.
Abati said, “The president is also
grateful to all the persons, groups and
communities that have sent donations
and made pledges to assist him to pay
the required N22million for the PDP
Presidential Nomination Fee and
Expression of Interest Form”.
Noting that Jonathan acknowledged and
accepted with immense gratitude, the
token of those who donated, Abati gave
the list of donors and the amount they
donated as follows: Mr Kennedy Ikenna
Odoeme N5, 000, Mr Ezemagu Sunday
Nnamdi N10, 000, PDP Governors –
N22million, Transformation Ambassadors
of Nigeria (TAN) – N22million, Ogbia
LGA Stakeholders, Bayelsa State –
N5million and Otuoke Community
Stakeholders – N2million.
Others include Brass LGA Stakeholders,
Bayelsa State – N50, 000, Bayelsa State
PDP Stakeholders- N5million, Northern
Youths Forum – N2million, Central
Market Traders Union, Kaduna State –
N1million, among others.
Leadership comes from the Heart, not from the Head.
Leadership comes from the heart and not
from the head. In your head, there could be
PHD certificate from Harvard university and
ten mansions in Cayman Island but God does
not need such qualifications for you to be the
man after His own heart. He said, 'My son,
give me your heart'. John C. Maxwell wrote,
''People won't know how much you know
until they know how much you care''. Your
heart defines your value for God's purpose in
your hands and people around you. God
began to look for David before David began
to look for Him. why? Because in David was
the heart of a true leader. God is not looking
for rulers. Rulers are like managers,
everything begins from their head. David
faced lions and bears because of a nothing
like sheep and God was watching. I wonder
what God sees in you today. If your value is
on your head, you are empty.
How to conquer your Fear
How to conquer your fear
Fear can never end any of your problem. To
change the way things are for you, you have
to make up your mind to try that same thing
that your mind has built a wall of limits
around. A knock on a door won't kill you.
And rejection is never a final answer. A man
told me that his wife hated to talk to him
before they got married. She was so beautiful
and intelligent but he kept visiting her but
was meeting rejections until one day, she
asked him to come in and explain himself.
When he came in, he never discussed about
wanting her or marriage. They discussed job
creation and that was how they decided to
build a team and build a business empire.
Marriage happened from there. Face your
fear. Fear is only a mind thing. The fear you
have is only inside you. It does not exist
anywhere else. The door you are afraid to
knock at has no fear posted on its wall. Its
only on the wall of your mind.
The Magic of Banana Peels
Why You must not throw banana peels away.
1) Prevent Wrinkles
Banana peels contain antioxidant that
have anti-aging effects.
2) Cure Psoriasis
Helps relief itching
3) Analgesic
A 15 minutes massage with a banana peel
will give you a good pain relief.
4) Helps in Teeth Whitening
Rub peels on your teeth and in few days,
you will see good result.
5) Removing warts
Helps to remove and also prevent.
6) Cooking
Can be used for cooking instead of throwing
it away.
7) Treatment for insect bites
Rub on affected body part and see quick
result.
Article Submitted by Dr. Ed Okoro. Food Safety Specialist.
Ten sweet ways to dis-Virgin a girl.
Ten sweet ways to dis-virgin a girl
The most important thing is not always the
most important thing. The will of God does
not fall into popularity. At one time, Jesus
was at a home and two sisters, Mary and
Martha were drawn to Him. One was busy
cooking for Him and the other was keen
listening to His will. And the one cooking felt
that it was the most important thing to serve
Jesus food first before His word. We all do
that. Somethings are not important but we
have built a new principle system that says
that those things are important. Today, young
people buy books with titles, 'Ten reasons
why it hurts being a virgin' 'Ten sweet ways
to dis-virgin' '20 ways not to break a
woman's heart in high school',. We spend
money buying these books than we study the
scripture. And yet, we think we are
committed Christians.
Today, abortion is more important than
childbirth. Its wrong to keep pregnancy but
its not wrong to have sex. Its right to watch
pornography at night and finally, put a bible
under our pillow while we sleep. We spend
one hour telling someone about an interesting
movie we watched but we cannot spend
fifteen minutes telling someone an interesting
thing about God. Most ladies cry, 'Heart
break...heart break...' and we rally behind
them and condemn the men but we don't see
it from God's angle. When you date a man
and do many unreasonable things with him,
nobody stood out to tell you that you are not
acting right but when the consequences
begin to apply even Christians want to help
you believe that the man was wrong and you
are right. A lady told me that she had five
times abortion for a guy and now he left her. I
openly told her that both of them ignored God
and the consequence of their decision is what
is happening.
There is no way God will go to war against
the young man. He is already at war with
both of you. I thank God that she understood
and dedicated her life to Jesus. Condom is
becoming more popular than bible. Culture is
becoming important than the scripture. Its
important to build a fifty thousand capacity
church whereas fifty thousand souls are
walking right into the devil's hands. Most of
us have been conditioned to spend money
for church building than spending it on the
next dying person around. So many
important things are not kingdom value. There
are denominational culture. We are
commanded to 'Go into all the world and
raise disciples of all nations' and not raise
'Buildings of all nations'. Our youths are
trapped in devil's purpose but no one cares.
We have deviated so much. An entire
generation is dying. Lets wake up.
Who wins Gulder Ultimate search tonight? ???
By 11pm tonight when the final episode of this
year’s edition of Gulder Ultimate Search,
Africa’s longest running reality TV programme,
would have aired, a new winner would have
emerged. One of the four remaining
contestants on the show would have found the
great General’s Helmet thus bringing an end
to a Mission for which over thousands of
individuals registered to be a part of.
Of the 14 contestants that were selected from
over 40,000 applicants to enter the Aguleri
jungle, only four remain. They are Otto Canon,
a 25 year old undergraduate, Nne Cosy Joe, a
28 year graduate of Agric Science, Emmanuel
Afolabi, a 29 year old undergraduate and 24
year old Chinedu Ubachukwu, also an
undergraduate.
For the millions of viewers of Gulder Ultimate
Search 11, the anxiety
and excitement over who is crowned the new
ultimate champion is fever pitch. However, for
the remaining contestants, the journey to the
final stage of the show has been long and
tortuous.
They have progressed through several phases
on this year’s edition; including the precision
phase, the survivor phase and the innovation
phase. They were also inducted into the Elite
Squad of the great General’s Army.
The remaining contestants are also not leaving
anything to chance as they have been
assessing their fellow contestants’ strengths
and weaknesses ahead of an epic battle to
locate the helmet.Chinedu said Otto is strong
in solving riddles but weak in solving puzzles.
Chinedu also pointed out that Emmanuel is
not too good with puzzles.
He further revealed that Cosy is better at
solving puzzles and not very good with
riddles.Emmanuel said he never expected he
would be among the four finalists for Gulder
Ultimate Search 11.
He also confessed that he was not good with
puzzles. Emmanuel however said he’s working
on improving his puzzle solving skill. He said:
“Over time, I’ve learnt to stay calm, paint a
mental picture before I start working, and
while I am working with my hands, my head is
thinking ahead.”Emmanuel described Chinedu
as a proud and arrogant person.
He hinted that these attributes may lead to his
downfall. Cosy corroborated Emmanuel’s
claims. He said: “Chinedu is erratic and the
type of confidence he has may also be
suicidal.”Cosy assessed Emmanuel as a
contestant who is good with riddles but not
with puzzles. Cosy confessed that he can be
easily beaten in riddles.
He noted: “They can beat me in riddles. It’s
always funny when someone uses his own
knowledge to set a question for me and you
expect me to get the answer.”Otto also
confessed that he was not too good with
solving puzzles. Otto’s fate of continuing in
Gulder Ultimate Search 11 hangs in the
balance as he failed Episode 25’s Code Box
task.
The winner of Gulder Ultimate Search 11 will
drive home a brand new SUV in addition to the
N10 million grand prize money.For the first
time in three years, no female contestant will
be part of the final search. Samantha Appi,
who emerged as the Last Woman Standing
was evicted in Episode 25 after failing the
Infinity task.
Her performance in the reality TV programme
has been described as marvellous and even
earned her respect from both her male and
female contestants. Being the smallest of the
seven female contestants did not deter her.
After emerging the Last Woman Standing,
Samatha said she felt very good, adding that
she thoroughly enjoyed her stay as a
contestant.
Speaking on her achievements despite her
small frame, Samatha noted: It’s not really
about my size but about my thinking
capabilities. And most of the time, my size
was my motivation.
People thought I will not be able to do some
things because they think I am fragile due to
my small frame. But I look at myself and I tell
myself, I know I can do this even though
people think I can’t do it.”For the first time in
the history of Gulder Ultimate Search, the Last
Woman Standing will drive home a brand new
Ford Eco sport.
This is in addition to the amount that will
accrue to her as the fifth placed
contestant.Gulder has recorded another first
as the beer brand will also give the contestant
who emerges as the winner of the on-going
Viewers’ Choice a brand new Ford Focus car.
No opposition party in Nigeria.
I am yet to see a true Democrat in the opposition parties in Nigeria. All those defecting to the opposition, what are they going to do differently? What stops them from doing it when they were in the PDP? What we need is attitudinal change not change of name. We are not learning democratically. All those cross carpeting from one political party to another are the problem we have in Nigeria. Until politicians becomes born again and agree to govern well, nothing will change in this country. No true opposition party in Nigeria. What we have are power hungry men and women who are battling to remain relevant at all cost.
Wednesday, October 29, 2014
Wow! See the health benefits of eating Pawpaw!
Sure, you know that pawpaw is a fruit;
you rightfully assume it’s good for you,
but do you know that the benefits of
eating pawpaw go far beyond the generic
boost of vitamin C.
*Papaya Contains Antioxidants
One of the benefits of eating papaya is
that it helps to prevent cancer. Papaya is
a rich source of antioxidants that the body
needs to fight against cancer-causing
cells. Vitamin C, E and beta-carotenes
are antioxidants that prevent all kinds of
cancers. So adding a daily serving of
papaya to your diet may lessen your risk
of developing cancer.
*Papaya is Used to Treat Digestive
Disorders
Papaya is a great source of proteolytic
enzymes that are very important in
digesting food. The most important of
these proteolytic enzymes found in
papaya is papain. Papain breaks down
proteins in food, allowing for better
digestion. Papain is used in prescription
of digestive enzymes to treat individuals
with cystic fibrosisor pancreatic
conditions; producing for them what the
body cannot produce naturally. Eating
papaya is also a benefit because papain
taken orally treats less serious digestion
disorders such as bloating and chronic
indigestion. In these cases papain is
extracted, dried and sold as tablets.
*Papaya Boosts Male Virility
Another great benefit of papaya is to
boost male virility. Papaya contains an
enzyme called arginine which is known in
the medically community to boost blood
flow around the man-hood. Arginine
boosts nitric acid in the body to relax the
muscles surrounding the blood vessels tat
supply the man-hood. These blood
vessels then dilate and increase blood
flow. A more concentrated form of
arginine is used to treat erectile
dysfunction.
*Papaya Prevents Premature Aging
Many alternative medical practitioners
believe that one of the benefits of papaya
is to control premature aging. Papaya
helps the body to properly digest food
and when the body digests all the
nutrients it needs, the body will remain
vital for a long time.
*Papaya is Used as a Cleanser
Taking a quarter pint (150ml) of papaya
juice, cucumber juice and green bean
juice in alternating hours for 12 hours can
be a benefit to your colon. These juices
work as potent natural cleansers when
combined.
Papaya is also rich in fiber, which travels
through the body and binds itself to
cancer-causing toxins in the colon. The
fiber in papaya flushes out the toxins in
the colon and so one of the benefits of
papaya is that it helps prevent colon
cancer especially, due to its antioxidants
and its fiber content.
*Papaya Prevents Heart Attacks and
Strokes
The antioxidants in papaya prevent
cholesterol from oxidizing. When
cholesterol becomes oxidized it forms
plaque in the blood vessel walls that can
eventually build up and cause a heart
attack or stroke.
Also, fiber is known to lower cholesterol.
The fiber in papaya converts a substance
called homocysteine into harmless amino
acids that the body can process, but
without the breakdown, homocysteine can
eventually damage blood vessel walls,
causing strokes or heart attacks.
*Papaya Treats Inflammation
Papain and chymopapain, prot
ein-digestive enzymes found in papaya lowers
inflammation and improve healing from
burns. Papain breaks down the inactive
proteins in the skin, removing dead tissue
from burns. This benefits the body as it
helps heal skin injuries, relieves psoriasis,
removes warts, treats ringworms and cold
sores.
Also vitamins C, E and beta carotenes are
good at reducing inflammation and as
such these nutrients are used to treat
asthma, osteoarthritis and rheumatoid
arthritis among many other inflammatory
ailments.
-Yahoo!
Amazing health benefits of watermelon!
Watermelon is by far, one of the most
powerful, body-healing fruits out there! The
amazing health benefits of watermelon cover
everything from your brain all the way to the
cells in your feet.
The best time to indulge in this fresh,
succulent, juicy melon, is summertime, when
they are in season and deliver an array of
nutrients, vitamin and minerals.
Watermelon is incredibly hydrating (up to 92%
water!) and is naturally low-fat. Make this
melon a part of your daily diet and you will
reap amazing benefits that range from
improving cardiovascular health to nourishing
your eyes and revving up your immune
system! Read below and see for yourself!
**Cardiovascular & Bone Health
The lycopene in watermelon is especially
important for our cardiovascular health and is
now being recognized as an important factor
in promoting bone health. Consuming large
amounts of watermelon has also been
correlated with improved cardiovascular
function because it improves blood flow via
vasodilation (relaxation of blood pressure).
Dietary lycopene (from foods like watermelon
or tomatoes) reduces oxidative stress which
normally reduces the activity of osteoblasts
and osteoclasts (the two major bone cells
involved in the pathogenesis of osteoporosis)
– this means stronger bones for those
consuming lycopene-rich foods. Watermelon
is also rich in potassium which helps to retain
calcium in your body, resulting in stronger
bones and joints.
**Reduces Body Fat
The citrulline in watermelon has been shown
to reduce the accumulation of fat in our fat
cells . Citrulline is an amino acid which
converts into arginine with help from the
kidneys. When our bodies absorb citrulline it
can take the step of converting into arginine if
so required. Citrulline, when consumed, has
the ability to (through a series of steps) block
the activity of TNAP (tissue-nonspecific
alkaline phosphatase) which makes our fat
cells create less fat, and thus helps prevent
over-accumulation of body fat.
**Anti-inflammatory & Antioxidant Support
Watermelon is rich in phenolic compounds like
flavonoids, carotenoids, and triterpenoids. The
carotenoid lycopene in watermelon is
particularly beneficial in reducing inflammation
and neutralizing free radicals. The
tripterpenoid cucurbitacin E is also present in
watermelon, which provides anti-inflammatory
support by blocking activity of cyclo-
oxygenase enzymes which normally lead to
increased inflammatory support. Make sure
you pick ripe watermelons, because they
contain higher amounts of these beneficial
phenolic compounds.
**Diuretic & Kidney Support
Watermelon is a natural diuretic which helps
increase the flow of urine, but does not strain
the kidneys (unlike alcohol and caffeine).
Watermelons helps the liver process ammonia
(waste from protein digestion) which eases
strain on the kidneys while getting rid of
excess fluids.
**Muscle & Nerve Support
Rich in potassium, watermelon is a great
natural electrolyte and thus helps regulate the
action of nerves and muscles in our body.
Potassium determines the degree and
frequency with which our muscles contract,
and controls the excitation of nerves in our
body.
**Alkaline-forming
Watermelons have an alkaline-forming effect in
the body when fully ripe. Eating lots of
alkaline-forming foods (fresh, ripe, fruit and
vegetables) can help reduce your risk of
developing disease and illness caused by a
high-acid diet (namely, meat, eggs and dairy).
**Improves Eye Health
Watermelon is a wonderful source of beta-
carotene (that rich red hue of watermelon =
beta carotene) which is converted in the body
to vitamin A. It helps produce the pigments in
the retina of the eye and protects against age-
related macular degeneration as well as
prevents night blindness. Vitamin A also
maintains healthy skin, teeth, skeletal and soft
tissue, and mucus membranes.
Immune Support, Wound Healing & Prevents
Cell Damage
The vitamin C content in watermelon is
astoundingly high. Vitamin C is great at
improving our immune system by maintaining
the redox integrity of cells and thereby
protecting them from reactive oxygen species
(which damages our cells and DNA). The role
of vitamin C in healing wounds has also been
observed in numerous studies because it is
essential to the formation of new connective
tissue. The enzymes involved in forming
collagen (the main component of wound
healing) cannot function without vitamin C. If
you are suffering from any slow-healing
wounds, up your intake of vitamin C heavy
fruit!
Queen Ochejife gets grand prize at Miss Big World 2014.
Skies Vision Communications ltd,
promoter of Miss Big World, presented a
grand prize to the winner of Miss Big
World 2014, Queen Ochefije Ineke, last
weekend in Abuja
The 2014 edition of project, being the
8th edition, ended with glamour and
colours as the winner went home with a
brand new car
The CEO of Skies Vision
Communication, Chief Dr Olubunmi
Usim-Wilson, said: “Our aim is to make
the special size of ladies endowed with
natural paraphernalia of beauty to be
special in the hearts of people.”
She said the pageantry was, therefore,
set to provide a platform were ladies
who are endowed with extra natural
body structures in spirit and in brain,
come to compete with their likes.
Dr Usim-Wilson further stated that Miss
Big World Nigeria Beauty Pageant gives
the plus -size ladies the opportunity to
showcase their God-given talent and to
provide support in building and
developing a better society through
positive projects.
“Part of our objectives are: to improve
on the quality of existing pageants and
to show case the elegance in big, bold
and beautiful ladies in extra capacities in
leadership and to change from negative
to positive, public perception of ‘big’
ladies; to contribute to the development
of culture and tourism industry in Nigeria
and world in general; to give big and
beautiful ladies a sense of belonging by
recognising their natural endowments; to
give every big lady an opportunity to
express themselves; to portray big ladies
all over the world as beautiful works of
nature; to portray Nigeria as a socially
responsible country where freedom of
association and expression thrives.”
Dr Usim-Wilson revealed that this year’s
event is showcased to submerge the
illusions of fear and challenges of
insecurity presently threatening the social
environment
She said, “Miss Big World, Nigeria
Beauty Pageant is surely too big, like our
nation, to succumb to insurgency. That
is why we created an atmosphere with
big and elegant ladies, whose beauty
overwhelm and calm the atmosphere of
insecurity.”
Speaking on the challenges, she said
since inception of the project, the
present edition is better than the
previous editions as they have been able
to contain some challenges and advance
beyond the point of their beginning.
She stated that however, there are
established challenges in every new
arrangement, including the reality of the
quintessential ladies in boldly embracing
the pageantry as a way of bravity to
promote the essence of being big
Nigeria to continue importation products for the next 20 years- Petroleum Minister.
Minister of Petroleum Resources, Mrs.
Diezani Alison-Madueke
Nigeria and other African countries will
continue to be net importers of petroleum
products despite the availability of functional
and quasi-functional refineries, and plans to
build more refineries on the continent, the
Minister of Petroleum Resources, Mr. Diezani
Alison-Madueke, has said.
According to her, plans to build more
refineries in Angola, Uganda, Mozambique
and Nigeria cannot change the situation.
Alison-Madueke spoke at the eight edition of
the Oil, Trading and Logistics (African
Downstream) Expo held in Lagos on
Tuesday.
“Notwithstanding the possibility of building
new refineries in Africa, including new
projects in Angola (Sonaref refinery); Uganda
(Uganda oil refinery); Mozambique (Nacala
refinery); and Nigeria, among others, Africa
will remain a net importer of petroleum
products for at least 20 years to come,” she
said.
The minister, however, pointed out that
Nigeria was already on the path to adding
more capacity by 2020 through the proposed
private refineries by the Dangote Group and
Orient, and Bayelsa, Kogi, and Lagos states,
among others.
Alison-Madueke, who was represented by the
Deputy Director, Gas, Department of
Petroleum Resources, Mr. Oliver
Okparaojiakor, said sub-Saharan Africa was
the least sophisticated refining centre in the
world.
She said, “In fact, there are only 24fuels
refineries within the region, with a total
refining capacity of 1.6 million barrels per day
for a population that is close to a billion.
Population growth means more energy
consumption.
“However, the uncompetitive and inefficient
nature of many of these refineries, combined
with the difficulty in funding major upgrades,
or new capacity, seem likely to keep the
average utilisation at a low level in the short
term.
“The implication of population growth for
Africa is that demand for petroleum products
will continue to be on the rise without
commensurate refining capacity addition.
There is an urgent need to encourage
investors to partner with national oil
companies or privately to build more
refineries, and for us to be less dependent on
imports.”
On petroleum products subsidies, the
minister said the stunted growth of the
downstream sector was attributable to the
distortion introduced to the market as a direct
result of the regulated regime in some sub-
Saharan African countries, adding, “There is
a need to eliminate this convoluted price
subsidy and stimulate competition across the
value chain.”
The issue of subsidy, she explained, could
not be over flogged, as according to the
World Bank, subsidy on petroleum products
in Nigeria and other oil-producing African
countries would be unsustainable in the
medium term.
Alison-Madueke said heavy subsidy was an
unsustainable expenditure even on the long
term, as it generally promoted energy
inefficiency and imprudent consumption.
Over the last 10 years, she said Nigeria had
taken important steps towards a more
deregulated downstream, adding that to
provide a competitive market environment
and sustain supply, the downstream sector
should be fully deregulated.
Similarly, the Executive Secretary, Petroleum
Products Pricing Regulatory Agency, Mr.
Farouk Ahmed, said activities in the
downstream sector had facilitated a net inflow
of investment in excess of N60bn.
Tuesday, October 28, 2014
Kwankwaso declares Presidential Ambition!
L-R: A former Governor of Kogi State, Abukakar Audu; Chief Audu Ogbeh; Kano State Governor, Musa
Kwankwaso; and Senator Bukar Abba, during the declaration of Kwankwaso to run for the 2015 presidential election at the old parade ground, in Abuja…on
Tuesday
The Kano State Governor, Rabiu Kwankwaso,
on Tuesday formally declared his interest in
vying for the Presidential ticket of the All
Progressives Congress.
At a rally held at the Old Parade Ground, in
Abuja, the Presidential aspirant during the
occasion, cast aspersions on the President
Goodluck Jonathan-led Peoples Democratic
Party administration, describing it as
incompetent.
He observed that Nigerians were today
exposed to unimaginable hardship which, he
said, was due to the failure of leadership at
the highest levels.
Kwankwaso noted that the looting of public
funds had gone on unabated because those
saddled with the responsibility of watching
over the nation’s wealth were busy stealing it.
He also expressed sadness that the welfare of
women and children as well as the most
vulnerable in society had not been given its
pride of place in the scheme of things.
The aspirant commended Nigerian youths for
being angry. He said anger in today’s Nigeria
was a virtue because those saddled with the
responsibility of providing a conducive
atmosphere for citizens to achieve their life’s
goals had failed in their responsibilities.
The governor hailed the APC for being the
only party which had internal democracy.
Kwankwaso said, “The call to save our dear
country has never been louder, clearer and
more unambiguous than now. Every facet of
our national life is deteriorating. Governance
has been reduced to mediocrity,
incompetence and impunity. I have no doubt
in my mind that this journey is difficult.”
He also said no matter how difficult, the
journey was worth embanking on because the
nation was in dire need of salvation.
Kwankwaso said should he get the job, he
would concentrate on the restoration of peace
and security to the country by defeating the
Boko Haram sect.
He said, “Lives and properties of our citizens
must be protected and secured. Boko Haram
and all forms of insurgency must be defeated.
As a government, we cannot afford to live in
denial. Insecurity is escalating at an alarming
rate.
“Little wonder rag-tag insurgents are taking
over cities and towns in the North-East. My
experiences as Nigeria’s Defence Minister
and as a Special Adviser on war-torn Darfur
and Somalia have shown me that securing a
nation and fighting and defeating armed
insurgents is only achievable if the forces are
professionally mobilised, properly kitted and
equipped, highly spirited and correctly armed
with intelligence and ammunition. My
experiences have shown me that technology
must be deployed in addition to mobilising
and cultivating the support of local
communities.”
The aspirant said relegating the welfare of the
Armed Forces and the Nigerian Police Force
to the background would only help in
compounding the phenomenon.
He maintained that the APC as a party
understood all these very well. That was why
it was requesting Nigerians to come together
and vote for the party.
“Our journey to economic prosperity will
always be imperiled if the peace and security
of movements of persons and goods cannot
be guaranteed. Stopping these menaces does
not require rocket science,” he added.
Kwankwaso also promised to give priority to
the war against corruption by running a
transparent and an all-inclusive government.
He noted that the impunity with which
corruption was being perpetrated, promoted,
and protected by the present PDP
administration left no patriotic Nigerian in
doubt that the government was working
deliberately and with determination to
impoverish Nigerians.
Nigerians, he said, had a duty to stop such
people to save our country.
He also promised to build strong institutions
which would take on the anti-graft war
without minding whose ox is gored. He reeled
out his achievements in various public offices
he had held and promised to do better if
given the chance.
He also promised to restore Nigeria’s global
image through the overhaul of the nation’s
foreign policy.
When contacted, the Deputy National
Publicity Secretary of the PDP, Alhaji
Abdullahi Jalo, referred our correspondent to
the party’s national publicity secretary.
Calls put through to the National Publicity
Secretary of the party, Chief Olisa Metuh,
were neither picked nor replied.
A response to a text message sent to him
was being awaited as of the time of filing this
report.
Women and Fashion! what do you think of this woman's dress?
Rich Church, Poor Members- Vanguard special Report.
Rich Churches, Poor Members
Vanguard special Report
October 25, 2014.
Pastor Enoch Adeboye, G.O, RCCG
Oritsejafor Pastor Chris Oyakhilome and his wife, Bishop Oyedepo, TB Joshua, Bishop Okonkwo
In the early days of Christianity in Nigeria the
church was at the forefront of society’s
development building schools, hospitals,
vocational skills acquisition centres, farms and
cottage industries, among others.
They offered scholarships, gave free books
and teaching aids, and gave food, clothing
and shelter to those deprived of these
necessities. Notwithstanding that the central
theme of sermons was on preparing for the life
after death, the church tried as much as
possible to ensure that members and those
who dared to come into God’s house had a
good life before death.
The satisfaction of the church was the welfare
of members and the success of the church
was seen in the number of lives touched and it
therefore offered safe haven to people in
various distress situations such as those
needing food, clothing, accommodation,
financial relief, treatment of debilitating
illnesses such as leprosy and mental disorders
and several others.
As the church ministered to the needs of
members and their lives got better they
brought the proceeds of the works of their
hands in form of tithes and offerings to God at
Sunday services, thanksgiving and harvest
ceremonies. With these, more cathedrals,
mission schools, orphanages, maternity homes
and farms were built.
Also more scholarships to even higher levels
of education were awarded as the house of
God indeed became the house of plenty.
Pastors saved money for social development
projects by living modest lives usually behind
the church, riding bicycles and working their
own farms in a clear example of storing up
treasures in heaven as the Bible recommends.
Fast track to 2014, members minister to the
needs of the church paying through the nose
to fund broadcasts on television and chain of
businesses including universities, publishing
houses, nursery, primary/ post primary
schools, as well as buy flashy cars and private
jets. They are reminded daily that givers never
lack.
In a bid to please “God” and achieve the
elusive breakthrough parishioners squeeze
themselves dry to contribute to various
projects in the house of God. But surprisingly
their situation never changes. The more they
give the poorer they become and the richer
the church.
Today’s church is an epitome of modernity
operating from state–of-the–art, imposing
edifices fully air-conditioned and complete with
evolutionary camera, klieg light and other
stage facilities for live broadcast from the
pulpit. Yet poverty ravages the same
establishment. Due to this religious paradox
discerning Nigerians have begun to ask a
pertinent question – has the modern church
abandoned social service that the old church
used so effectively to warm itself into the
hearts of many?
Take this: July 6, 2014 in a church in Amuwo
Odofin area of Lagos, a priest held the
congregation spell-bound with his homily. His
delivery was superb. Emphasis was to shift to
appreciating what God has done for all by
been generous in the Harvest contributions.
He started by calling on those who wanted to
appreciate God with N200,000 to come
forward for special blessing. From N200,000 it
fell to N150,000, N100,000 and to N50,000 to
N5,000 and below. Although nobody came
out for a supposed N200,000 blessing, the
priest at the end of the day asked the entire
church to stand for general blessing.
To the conservative Catholics it was taking
revenue drive too far. The scene at the Amuwo
Odofin church is common in Catholic churches
in the country now. Before now, the
pentecostal churches appeared to enjoy the
exclusivity of megabucks from members.
Some church leaders even flaunt their wealth.
Even in their jerry-curl hair style they defend
their affluence on the grounds that “my God is
not a poor God.”
The message is apparently for members to
strive to be like them as they claim to enjoy
the benevolence of God. And so the craze for
miracles that could create rags to riches
phenomenon is unabated in our churches.
Although the pentecostal churches are in the
lead for revenue drive that see churches
embark on big projects only a few of them
have programmes to help the poor. And it is
in this area that the Catholic Church stands
out.
The programmes of their Saint Vincent De
Paul Society are geared towards alleviating
problems of the poor in their various parishes.
They visit, hospitals, prisons, charity homes to
donate items to them. They identify with the
poor in their parishes and lend a helping hand.
The Church is known for their contributions in
education and health care that is affordable
by the poor. But unlike before, the Catholic
church in Nigeria appears to have joined the
race to grab and grab from church members
or parishoners.
The harvest period in some churches last up
to six months. The mass is usually longer for
speeches and announcements that plead to
members to appreciate God. Although
members, in many cases, attest to what the
church does with the money, the pressure on
members to offer resources during harvest is
unChatholic to many.
Mr. Gabriel Bolade, an accountant in a
commercial bank who attends Baptist Church,
Yaba believes the church has abandoned its
members. He lamented that the church of
today has abandoned the noble role of taking
care of the weak and vulnerable in the society.
His concern arose from the clear unwillingness
to help enhance education in the country.
“Most of the private universities are owned by
well established churches who charge fees far
beyond the means of ordinary members who
contributed to the establishment of these
higher institutions. Fees in the region of N1.5
million to N3 million per session are charged
which can only be afforded by the wealthy.
The ordinary members who helped in donating
materials, cash, labour and even by praying
and fasting for the universities cannot afford
such fees for their children and wards.”
But exorbitant fee is not the exclusive
preserve of Pentecostal churches. Mission
schools handed back by government to the
churches that established them some years
back as part of strategies to improve
education in the country have now been
caught in the web. The schools owned by
Methodist, Catholic, Anglican, CMS and other
churches that were reputed social service
providers have now been hijacked by greedy
capitalists. Their fees are no longer affordable,
just like private universities.
Mr. Emmanuel Onyeji, past chairman of the
Laity Council at St. Thomas Aquinas Catholic
Church, Okokomaiko, Lagos put the problem
at the door step of “churches that are mainly
interested in making money” and not in the
welfare of their members.
“Pastors of churches often preach about the
primacy of giving at least 10 per cent of their
income as tithe and more as offering to the
church. Their focus is on prosperity mainly”.
But Pentecostal churches have faulted this
claim about church members contributing
towards the establishment of educational
institutions. In fact, Pastor David Oyedepo of
Living Faith Mission (Winners Chapel) who is
Founder and Chancellor of Covenant
University was quoted as saying that he did
not build the university with tithes and
offerings of members. But he is yet to reveal
the sources of funding. His denial, however,
does not explain why majority of Winners
Chapel members cannot afford the fees
charged by a University owned by their church
or senior pastor; yet he owns private jets –
Gulfstream G550, Gulfstream G450,
Gulfstream V and LearJet with combined
valued of $98.3million (N15.9billion).
The situation is not different at the Redeemers
University (RUN), owned by the Redeemed
Christian Church of God (RCCG). While fees
are also as high as that of Covenant
University, RUN claims to have established a
scholarship scheme for indigent students. The
scheme involves school fees discounts of
between 10 % and 80% for children and
wards of the university’s staff, children of
pastors and some indigent members of the
church. Like Winner’s Chapel Senior Pastor,
the General Overseer of RCCG Pastor E.A.
Adeboye owns a private jet – a Gulfstream V.
That owned by the President of Christian
Association of Nigeria, CAN, Ayo Oritsejafor
has just been involved in a scandal in South
Africa. It flew $9.3m cash into South Africa
where the money has been seized by the
home country although the man has explained
that he leased the aircraft to another company
and that he knew nothing about the
transaction. . Nigeria’s government claimed
responsibility, saying that the money was
meant for the purchase of arms to fight terror
and that cash payments are sometimes
effected in such deals.
Ayo Oritsejiafor has admitted owning the
aircraft and also admitted leasing it out to a
company he has substantial interest. Nigerians
want to know how this has this helped
evangelism? Critics will be quick to answer
that materialism is better for it than
evangelism.
Mr. Daniel Ede, a banker who worships with
the Anglican Church expressed worry that the
present day church has deviated from the
practice of the early church in terms of
assisting those in need and he recommends
immediate change.
“The early church in Acts of the Apostles sold
their belongings and gave to the needy. Some
of the wealth being made by our churches
should be used for the sick, poor widows,
prisoners, etc. Churches ought to create more
welfare programmes for the indigent and
needy in their midst. They should have
schools and hospitals that the poor can
afford”.
A worker in a Pentecostal church in Lagos,
who spoke to Saturday Vanguard on condition
of anonymity said churches in Nigeria are not
doing enough to help the poor and indigent
and asked for remedial action. “The Nigerian
churches are not doing enough. The church
can begin a revolution of wealth creation and
the development of education. We need to
give in such a way that those given will not
need alms again. Education funds should be
created for those who are eligible to attend
university, but are indigent. If churches build
schools, they should dedicate a certain
admission percentage slot for indigent church
members. Of what essence is a church that
doesn’t give back?”
He added that “churches should help fund
businesses for church members and may also
establish food banks, where indigent members
of the church can access food in times of food
shortage. They can also generate funds for
small businesses to grow, as well as train the
owners of such businesses”.
Speaking to Saturday Vanguard, the Benue
State chairman of the Christian Association of
Nigeria (CAN) Arch Bishop Yiman Orkwar sees
nothing wrong in churches establishing
schools and running them in a professional
manner, without sentiments. While he is not
against churches granting scholarships to
children of the poor, he insists that there is no
way all members of the church could be
exempted from paying fees as a matter of
policy as this could harm the institution’s
ability to run the institutions properly and meet
the demands of staff.
Sociologist Dr. John Akposibruke disagrees
with those suggesting that the church has
abandoned its social service role to humanity
like poverty alleviation.
“Some of the Pentecostal churches being
accused of collecting tithes and offerings
without giving back to the needy members
have commendable welfare/poverty alleviation
schemes.
“I know of a church that pays rent, school
fees, medical bills and even wedding costs of
its indigent members, but how many people
can they do this for with their limited
resources?”
He explained that their efforts are not being
felt because the magnitude of poverty and
deprivation in the country is so high that what
is done pales into insignificance.
“In some churches those who need help are
up to 60% of members and with the
worsening level of unemployment the rate is
growing; how do you attend to everybody?”
He points out that some members have
developed unrealistic expectations from their
churches one of which is that their children
should attend a church-owned university free
of charge simply because they gave tithes and
offerings when the universities were being
built without asking themselves the percentage
of these contributions to the cost of setting up
and running such schools.
“Tithes and offerings are gifts to God and the
church, and like every gift they are not
returnable either in form they were given, or by
extending discounts and privileges.
“Since tithes and offerings are pooled together
to carry out various projects in the house of
God it is difficult to determine who gave what
and on that basis extend any privilege; how
can you be sure that your own portion of the
contributions was not the part used to
decorate the church or buy musical equipment
and not used to build a school?”
Investigation by Saturday Vanguard revealed
that some churches are indeed engaged in
one form of welfare/empowerment scheme or
the other. Daystar Christian Centre runs a
leadership, entrepreneurship and skill
development training for members to empower
them. While the leadership programme is
meant to impart leadership skills, the
entrepreneurship class is a case-study based
executive business education that takes
potential entrepreneurs from idea to business
plan, start up and fund sourcing.
The vocational skills development teaches
members various skills such as maintenance
of generators, photography, cake and
confectionery making, bead making and video
production among others. The church also
runs a benevolence scheme under which
foods, clothes and shoes are distributed to the
needy whether they are members of the
church or not. The Senior Pastor’s wife has
also established a Real Woman Foundation to
care for the female folk.
The foundation operates an orphanage and a
street women rehabilitation centre which
imparts vocational skills and education to any
level. Inmates of these centres are given the
kind of care and support that should have
been provided by their families.
Saturday Vanguard also found out that The
Redeemed Evangelical Mission (TREM) has
established a number of schemes to help
members beat poverty. Among these are
“Career Academy” – an after school touch up
for graduates to help them secure
employment and “We Care” under which the
church pays rent, medical bills, and gives
foods and clothes to indigent members. It is
also involved in rehabilitation of street girls
through its “Rehobot Homes” programme.
The church also offers scholarships to
intelligent but indigent members of the church
under the Bishop Mike Okonkwo Scholarship
scheme which runs from secondary to
university.
Further investigations also revealed that
several other churches run one form of poverty
eradication scheme or the other to empower
members but the impact of such schemes has
remained minimal.
However, Dr. Joseph Antyo of the University
of Mkar, a private university in Benue State
owned by the Evangelical Church of West
Africa (ECWA) believes that poverty issues in
Nigeria cannot be effectively addressed at
different levels (family, community, state and
nation) in isolation from the churches.
He recommends that “churches should see
poverty eradication as a part of their mission
of evangelisation, since not only spiritual but
also material salvation is needed to truly free
someone. Some of the money that some
churches have should be made available to
their members in form of loans and other
poverty alleviation measures, and the churches
should be able to build on their greatest
strengths which are trust and commitment
rather than dependency.
Churches should also motivate their members
to work or to help create employment, since
the lack of it is probably the greatest bane of
Africa today.”
Lizzy Gold goes hairless for a movie role.
There are many parts to the budding actress,
Lizzy Gold Onuwaje, former Delta State beauty
queen.
Just when you thought you have got an angle
on her, there is always another part of her
creeping up. She once declared to Potpourri
that she would never marry a poor man or a
struggling man. She also declared in the same
interview that bank alerts turn her own. What a
mean streak, you would want to say, but Lizzy
has a heart of gold. Out of her earnings she
sponsors some indigent students in the
university. Now, how many Nigerians could do
that fairly and squarely?
Unlike many of her peers, she doesn’t even
have a tattoo. Even one that is being printed
on her recently is mainly to pull off an act in
her upcoming movie. “ Yeah I got this tattoo
for a movie. It would be on my body for three
months. It is a semi permanent tattoo” she
said.
“It is my first tattoo. I have it to play a role in
a movie. The movie is Golden House and I am
playing the lead role. I also shaved my hair for
the movie
FCMB secures $300 m long term facility from DFI, , others.
FCMB secures $300m term loan facility from DFI, others
First City Monument Bank (FCMB) Limited has
successfully secured over $300 million
medium and long term funding from
Development Finance Institutions (DFIs) and
international commercial Banks in four different
transactions. This follows an upgrade in the
rating of the Bank by Global Credit Rating
(GCR) to A- (that is, stable outlook).
The $300 million secured by FCMB from the
DFIs demonstrates the confidence the lenders
and the international financial market have in
the management capabilities of the Bank.
Proceeds of the facility will be used for general
lending purpose to key sectors of the Nigerian
economy, branch development as well as
channel enhancement.
The International Finance Corporation (IFC), a
member of the World Bank Group and the
largest global development institution; Citibank
and Overseas Private Investment Corporation
(OPIC), a multilateral finance institution owned
by the U.S government, provided the loan.
Other Development Finance Institutions (DFIs)
include Nederlandse Financierings-
Maatschappij voor Ontwikkelingslanden N.V.
(FMO) – the Dutch Development Bank; Société
De Promotion Et De Participation Pour La
Coopération Economique S.A (PROPARCO), a
subsidiary of the Agence Française de
Développement (AFD), and the European
Investment Bank (EIB), a multilateral finance
institution owned by the European Union.
Going by the details of the loans, FCMB
secured $100 million senior debt financing
from the IFC for a tenor of 5 years, another
$100 million from OPIC and Citibank for
between 2 to 5 years tenor; $60 million from
FMO and PROPARCO for tenor between 3 to
5 years and $32.7 million from the EIB for
tenor of 8 years.
Information from the Bank indicates the facility
from Citibank/OPIC, IFC, FMO/PROPARCO
will provide lending to telecommunications,
power and infrastructure projects.
In addition, FCMB will utilize a portion of the
loan from Citibank/OPIC to finance Small and
Medium Scale enterprises (SMEs) and other
activities that will enhance financial inclusion in
Nigeria. The $32.7 million provided by EIB will
be dedicated to channel expansion purposes.
FCMB had earlier this year, considered raising
$300 million from the Eurobond markets, but
the plan was suspended due to unfavorable
market terms. It is pertinent to note that the
average interest rate on the DFI facilities is
about 4 per cent below the Eurobond’s rate
According to the Group Managing Director/
Chief Executive of FCMB, Mr. Ladi Balogun,
‘’the successful fund raising exercise and the
number of international institutions that
participated in the provision of the facilities is a
demonstration of the level of confidence which
investors and the international financial market
have in FCMB and the Nigerian financial
market as a whole”. He added that, “we are
excited about this development as it shows
that the financial institutions truly believe in the
growth potential of FCMB, the excellent
corporate governance structures and culture
we have put in place’’.
Mr. Balogun added that a large part of the
facility will be used to support critical areas of
the Nigerian economy, ‘’in line with our
commitment to always provide veritable
source of funding for the businesses of our
customers, while also adding value to our
shareholders’’.
FCMB secures $300 m long term facility from DFI, , others.
FCMB secures $300m term loan facility from DFI, others
First City Monument Bank (FCMB) Limited has
successfully secured over $300 million
medium and long term funding from
Development Finance Institutions (DFIs) and
international commercial Banks in four different
transactions. This follows an upgrade in the
rating of the Bank by Global Credit Rating
(GCR) to A- (that is, stable outlook).
The $300 million secured by FCMB from the
DFIs demonstrates the confidence the lenders
and the international financial market have in
the management capabilities of the Bank.
Proceeds of the facility will be used for general
lending purpose to key sectors of the Nigerian
economy, branch development as well as
channel enhancement.
The International Finance Corporation (IFC), a
member of the World Bank Group and the
largest global development institution; Citibank
and Overseas Private Investment Corporation
(OPIC), a multilateral finance institution owned
by the U.S government, provided the loan.
Other Development Finance Institutions (DFIs)
include Nederlandse Financierings-
Maatschappij voor Ontwikkelingslanden N.V.
(FMO) – the Dutch Development Bank; Société
De Promotion Et De Participation Pour La
Coopération Economique S.A (PROPARCO), a
subsidiary of the Agence Française de
Développement (AFD), and the European
Investment Bank (EIB), a multilateral finance
institution owned by the European Union.
Going by the details of the loans, FCMB
secured $100 million senior debt financing
from the IFC for a tenor of 5 years, another
$100 million from OPIC and Citibank for
between 2 to 5 years tenor; $60 million from
FMO and PROPARCO for tenor between 3 to
5 years and $32.7 million from the EIB for
tenor of 8 years.
Information from the Bank indicates the facility
from Citibank/OPIC, IFC, FMO/PROPARCO
will provide lending to telecommunications,
power and infrastructure projects.
In addition, FCMB will utilize a portion of the
loan from Citibank/OPIC to finance Small and
Medium Scale enterprises (SMEs) and other
activities that will enhance financial inclusion in
Nigeria. The $32.7 million provided by EIB will
be dedicated to channel expansion purposes.
FCMB had earlier this year, considered raising
$300 million from the Eurobond markets, but
the plan was suspended due to unfavorable
market terms. It is pertinent to note that the
average interest rate on the DFI facilities is
about 4 per cent below the Eurobond’s rate
According to the Group Managing Director/
Chief Executive of FCMB, Mr. Ladi Balogun,
‘’the successful fund raising exercise and the
number of international institutions that
participated in the provision of the facilities is a
demonstration of the level of confidence which
investors and the international financial market
have in FCMB and the Nigerian financial
market as a whole”. He added that, “we are
excited about this development as it shows
that the financial institutions truly believe in the
growth potential of FCMB, the excellent
corporate governance structures and culture
we have put in place’’.
Mr. Balogun added that a large part of the
facility will be used to support critical areas of
the Nigerian economy, ‘’in line with our
commitment to always provide veritable
source of funding for the businesses of our
customers, while also adding value to our
shareholders’’.
FCMB secures $300 m long term facility from DFI, , others.
FCMB secures $300m term loan facility from DFI, others
First City Monument Bank (FCMB) Limited has
successfully secured over $300 million
medium and long term funding from
Development Finance Institutions (DFIs) and
international commercial Banks in four different
transactions. This follows an upgrade in the
rating of the Bank by Global Credit Rating
(GCR) to A- (that is, stable outlook).
The $300 million secured by FCMB from the
DFIs demonstrates the confidence the lenders
and the international financial market have in
the management capabilities of the Bank.
Proceeds of the facility will be used for general
lending purpose to key sectors of the Nigerian
economy, branch development as well as
channel enhancement.
The International Finance Corporation (IFC), a
member of the World Bank Group and the
largest global development institution; Citibank
and Overseas Private Investment Corporation
(OPIC), a multilateral finance institution owned
by the U.S government, provided the loan.
Other Development Finance Institutions (DFIs)
include Nederlandse Financierings-
Maatschappij voor Ontwikkelingslanden N.V.
(FMO) – the Dutch Development Bank; Société
De Promotion Et De Participation Pour La
Coopération Economique S.A (PROPARCO), a
subsidiary of the Agence Française de
Développement (AFD), and the European
Investment Bank (EIB), a multilateral finance
institution owned by the European Union.
Going by the details of the loans, FCMB
secured $100 million senior debt financing
from the IFC for a tenor of 5 years, another
$100 million from OPIC and Citibank for
between 2 to 5 years tenor; $60 million from
FMO and PROPARCO for tenor between 3 to
5 years and $32.7 million from the EIB for
tenor of 8 years.
Information from the Bank indicates the facility
from Citibank/OPIC, IFC, FMO/PROPARCO
will provide lending to telecommunications,
power and infrastructure projects.
In addition, FCMB will utilize a portion of the
loan from Citibank/OPIC to finance Small and
Medium Scale enterprises (SMEs) and other
activities that will enhance financial inclusion in
Nigeria. The $32.7 million provided by EIB will
be dedicated to channel expansion purposes.
FCMB had earlier this year, considered raising
$300 million from the Eurobond markets, but
the plan was suspended due to unfavorable
market terms. It is pertinent to note that the
average interest rate on the DFI facilities is
about 4 per cent below the Eurobond’s rate
According to the Group Managing Director/
Chief Executive of FCMB, Mr. Ladi Balogun,
‘’the successful fund raising exercise and the
number of international institutions that
participated in the provision of the facilities is a
demonstration of the level of confidence which
investors and the international financial market
have in FCMB and the Nigerian financial
market as a whole”. He added that, “we are
excited about this development as it shows
that the financial institutions truly believe in the
growth potential of FCMB, the excellent
corporate governance structures and culture
we have put in place’’.
Mr. Balogun added that a large part of the
facility will be used to support critical areas of
the Nigerian economy, ‘’in line with our
commitment to always provide veritable
source of funding for the businesses of our
customers, while also adding value to our
shareholders’’.
FCMB secures $300 m long term facility from DFI, , others.
FCMB secures $300m term loan facility from DFI, others
First City Monument Bank (FCMB) Limited has
successfully secured over $300 million
medium and long term funding from
Development Finance Institutions (DFIs) and
international commercial Banks in four different
transactions. This follows an upgrade in the
rating of the Bank by Global Credit Rating
(GCR) to A- (that is, stable outlook).
The $300 million secured by FCMB from the
DFIs demonstrates the confidence the lenders
and the international financial market have in
the management capabilities of the Bank.
Proceeds of the facility will be used for general
lending purpose to key sectors of the Nigerian
economy, branch development as well as
channel enhancement.
The International Finance Corporation (IFC), a
member of the World Bank Group and the
largest global development institution; Citibank
and Overseas Private Investment Corporation
(OPIC), a multilateral finance institution owned
by the U.S government, provided the loan.
Other Development Finance Institutions (DFIs)
include Nederlandse Financierings-
Maatschappij voor Ontwikkelingslanden N.V.
(FMO) – the Dutch Development Bank; Société
De Promotion Et De Participation Pour La
Coopération Economique S.A (PROPARCO), a
subsidiary of the Agence Française de
Développement (AFD), and the European
Investment Bank (EIB), a multilateral finance
institution owned by the European Union.
Going by the details of the loans, FCMB
secured $100 million senior debt financing
from the IFC for a tenor of 5 years, another
$100 million from OPIC and Citibank for
between 2 to 5 years tenor; $60 million from
FMO and PROPARCO for tenor between 3 to
5 years and $32.7 million from the EIB for
tenor of 8 years.
Information from the Bank indicates the facility
from Citibank/OPIC, IFC, FMO/PROPARCO
will provide lending to telecommunications,
power and infrastructure projects.
In addition, FCMB will utilize a portion of the
loan from Citibank/OPIC to finance Small and
Medium Scale enterprises (SMEs) and other
activities that will enhance financial inclusion in
Nigeria. The $32.7 million provided by EIB will
be dedicated to channel expansion purposes.
FCMB had earlier this year, considered raising
$300 million from the Eurobond markets, but
the plan was suspended due to unfavorable
market terms. It is pertinent to note that the
average interest rate on the DFI facilities is
about 4 per cent below the Eurobond’s rate
According to the Group Managing Director/
Chief Executive of FCMB, Mr. Ladi Balogun,
‘’the successful fund raising exercise and the
number of international institutions that
participated in the provision of the facilities is a
demonstration of the level of confidence which
investors and the international financial market
have in FCMB and the Nigerian financial
market as a whole”. He added that, “we are
excited about this development as it shows
that the financial institutions truly believe in the
growth potential of FCMB, the excellent
corporate governance structures and culture
we have put in place’’.
Mr. Balogun added that a large part of the
facility will be used to support critical areas of
the Nigerian economy, ‘’in line with our
commitment to always provide veritable
source of funding for the businesses of our
customers, while also adding value to our
shareholders’’.
After the hide and seek game, Tambuwal finally joins APC.
After hide and seek game, Tambuwal finally joined APC.
Abuja- The Speaker of House of
Representatives, Aminu Tambuwal, on
Tuesday in Abuja defected from the Peoples
Democratic Party (PDP) to the All Progressives
Congress (APC).
Tambuwal announced his defection shortly
after the House Leader, Mulikat Akande-
Adeola (PDP-Oyo) moved a motion for the
house to adjourn sitting till Dec. 3.
“In pursuit of the provisions of the 1999
Constitution and in view of the political
developments in my state, I wish to formally
inform you of my membership of the APC .
“This is in continuation of the great sacrifice
and also the need to ensure development of
constitutional democracy,’’ Tambuwal said.
Meanwhile members of APC caucus in the
house, in a swift reaction, told newsmen that
the development was a historic one.
Leader of the APC caucus, Rep. Femi
Gbajabiamila (APC-Lagos) said that the move
was consistent with the law, adding that “the
APC members would continue to support the
current leadership’’.
Similarly, Rep. Samson Osagie (APC-Edo) said
that the house, which adjourned till Dec 3,
was to enable the lawmakers to consult with
their constituents and promote their political
interest ahead of the 2015 general elections.
Osagie, however, ruled out possible counter
move by the PDP against the leadership of the
house.
According to him, “there is unity in this house
and that is the kind of unity we want to be
replicated in every part of this country”.
He further described Tambuwal as a bridge
builder who had united the house in spite of
different political affiliations of ,members of the
parliament.
Tambuwal became the Speaker of the House
of Representatives on the platform of PDP in
2011. (NAN)
Monday, October 27, 2014
54% of Nigerians are illiterates- Ex ASUU President.
54% of Nigerians are illiterates – Ex ASUU president
October 27, 2014.
Abuja – A former President, Academic Staff
Union of Universities (ASUU), Prof. Oladipo
Fashina, on Monday said that 54 per cent of
Nigerians were illiterates.
Fashina spoke at the opening of National
Education Summit with theme “Toward a
System of Education for Liberation in Nigeria,’’
held in Abuja.
He said that only 15 per cent of Nigerians had
managed to attain higher education since the
country’s independence 54 years ago.
“The present crisis in education is an offshoot
of the neo-liberal misdirection which Nigerian
people did not choose.
“Our rulers still insist in the main that the
solution to the crisis in education lies with
flooding the country with private schools,
universities and commercialised education to
operate in acceptance with market rules.
“This explains why public expenditure on
education has never gone anywhere near the
UNESCO prescription that each country
should expend at least 26 per cent of its
national budget on education,’’ he said.
Fashina said that Nigerian education had also
witnessed policy summersaults arising from
inadequate conception of the philosophy,
purpose and practice of education and class
domination.
He noted that for effective national
development in the education sector, it must
be re-conceptualised in a manner that would
make it capable of performing its
transformative functions for the nation at large.
Fashina said that the summit would chart a
new pathway for educational delivery capable
of fostering the needed body of knowledge,
skills, value and ethics in liberating education
system, among others.
“We are expected to come up with viable
proposals the acceptance and execution of
which will bring about a re-engineering and
liberation of the education sector.’’
The Minister of Education, Mallam Ibrahim
Shekarau, commended the organisers of the
summit, which he said was timely.
Shekarau, who was represented by Mrs Ann
Harrison, the Deputy Director, Institution
Services, said that the summit would not only
identify mistakes but strengthen the sector.
“The summit will also strengthen the pitfalls to
avoid in the future and also come up with
recommendations that will move the sector
forward,’’ he said.
Prof. Biodun Jeyifo, an academic don at
Harvard University, Cambridge U.S., who is
also the Chairman of the summit condemned
the educational module which Nigeria still
adopts.
Jeyifo said that lack of proper implementation
of the education policies were the reasons
Nigerian universities produced graduates that
were unemployable.
He noted that corruption and policy somersault
were at the core factors limiting the education
potentials of the country.
The summit was jointly organised by Senior
Staff Association of Nigerian Universities
(SSANU) National Association of Academic
Technologists (NAATS).
Others are Non-Academic Staff Union of
Educational, Associated Institutions (NASU)
and including coalition of civil societies. (NAN)
People don't believe I am a Lagosian- Desmond Eliot.
Desmond had shocked a lot of Nigerians and was mocked for it when he added “Olusola” to his campaign name.
A few days ago, he released his campaign poster and manifesto for his House of Assembly ambition and here's what he has to say about people not knowing he had Yoruba blood in his veins.
Sunday, October 26, 2014
I like Oritsefemi, but I can't date him-Sexy Ache.
I like Oritsefemi but I can’t date him – Sexy Ache
October 25, 2014.
Black, beautiful and bold Ache Rachael Sule
known as Sexy Ache in the music scene, is
definitely not a damsel in distress, rather she
is one totally in control of her life and not one
too laid back in flaunting her sexuality when
occasion demands.
The fast-rising singer who broke into the
industry with her hit song African Lady
opened up to Potpourri on why she featured
the Afropop artiste Oritsefemi in her Afro-beat-
inspired track Gentle. She also dispelled the
rumour that she is dating Oritsefemi.
In her words:”It’s was a great experience
working with Oritsefemi. He was the best
person for the song at that time. He is a very
versatile artiste and very good at what he
does. Gentle was inspired by the great Fela
kuti .The song is an Afrobeat tune that says
we should take things one step at a time, we
should be gentle in our approach towards life
because there is no rush in life.”
She continues: “I like the white part of
Ortisefemi hair but l cannot date him. I can
date him as a friend, hang out with him and
take a couple of drinks but for a relationship
it’s a no! When we shot the video and some
people got hold of the pictures online, people
were saying I am Oritsefemi’s girl friend. It’s
just a professional relationship”.
Nigerian hairiest Lady- Queen Okafor in sexy pictures
Incase you don't know her, she is Queen Okafor, arguably Nigeria's hairiest lady. Good to see she's still rocking her look with confidence .
Last year, the 26 year old aspiring actress told the Sun
Wedding pictures of Joke and Azeez in Lagos Nigeria.
GEJ and his entourage praying in Israel.
South Africa returns seized money to Nigerian government.
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