Friday, 22 September 2017
Business and Economy

Business and Economy (692)

SPONSORED BY YES434.COM...THE BUSINESS DIRECTORY:  Former President Goodluck Jonathan yesterday  sneaked into Ibogun ,Ogun State, the ancestral village of  one of his  predecessors in office, and an architect of his defeat in the 2015 election, ex – President Olusegun Obasanjo.

The rare meeting between the duo who were bitterly divided in the run-up to the election saw Obasanjo tell his host how wise he (Jonathan) had become since leaving office.

“When leaders come, they have little or no experience. When they have to go is when they have really amassed a lot of experience, where they have wisdom, their  experience is in high demand.

“Those like you and me who have the grace of God to bow out gracefully, if there is now what I call constitutional office, we have residual responsibilities for Nigeria,”Obasanjo said.

With Jonathan on the trip, which observers branded as fence mending  yesterday ,were former Minister of Special Duties, Tanimu Kabir Turaki; a former Minister of National Planning, Prof. Suleiman Abubakar; King A.J.Turner ;and a former Chairman of the Federal Roads Maintenance Agency( FERMA), Engr. Jide Adeniji.

They flew into the village in a chartered helicopter at about  11.30am.

The visit lasted about four hours of which Obasanjo and Jonathan alone spoke behind closed doors  for  40 minutes.

No member of Jonathan’s  entourage or Obasanjo’s associates was allowed into the inner room where the  secret talks took place.

One source said yesterday that the   visit was part of Jonathan’s new rapprochement with some of the  key figures that had a hand  in his defeat in the April 2015 polls.

Obasanjo received his visitor in company with former Governor of Osun State, Prince Olagunsoye Oyinlola, who was ousted as National Secretary of the then ruling PDP by Jonathan and his loyalists.

Obasanjo took  Jonathan round the village for a door-to-door greeting of the elders and the residents.

The people sang and danced in appreciation of Jonathan’s visit.

Obasanjo, welcoming Jonthan, said: “The first point I want to make is to thank you very sincerely and most sincerely for taking it upon yourself to pay us a visit at this point in time and at this location.  Secondly, since you left office, you hardly have time to sit down and relax like you have been able to do today and I hope, I sincerely hope and pray for more such relaxed situation where we can reminisce on situations of the past that we have been through in this country and we can also look at what the future portends.

“I believe that not only Nigeria, West Africa and Africa and indeed the world will continue to tap our experiences,   our wisdom and I hope and pray that when the call is made to you, you will be more than ready to put your experience, the lessons you have learnt into the service of this country, for African and indeed for humanity in general.

“ I have said to you before and I will say again that there are plenty of opportunities out there, within the country, within West Africa, within Africa and indeed in the larger world where people will want you to make contributions.

“I believe that you are resting now and when you have fully rested and you will be hearing from me because I have this opportunity to be around the world and if I mention your name in dispatch, I thank you sincerely that you have received us as we are in this village to prove to you that we are in a typical village, I was telling you that your village is better than mine.

“I want to say that we have it. Nigeria is a good country and we must never be tired of lifting the country up to the height that God has created it to be and God did not make a mistake when he put all of us together and if He doesn’t want us to be together no power in the world will have made us come together.

“My regards to everybody at home, especially your wife. Please, tell her that my wife sends her regards and I hope sooner or later we will be on your part of the world to enjoy the atmosphere together.  I want to thank you on behalf of everyone here in this village.”

Explaining his mission,Jonathan said he had planned to visit Obasanjo during the yuletide in  company with former military ruler, General Ibrahim Badamosi Babangida (IBB), but the plan fell through owing to unforeseen circumstances.

He said the idea came about when he visited Babangida in Minna when the two of them agreed to come to Ibogun.

Jonathan thanked Obasanjo for the warm reception accorded him and entourage.

Thereafter,  Obasanjo and Jonathan retired to one of the sittings rooms for  “strictly personal talks for 40 minutes.”

Talks over, Obasanjo and one of his friends launched into the popular Yoruba game of ayo.

Jonathan watched as the game went.

A source at the meeting said he was “full of admiration” for it.

It was not immediately clear if the trip was part of the ongoing political realignment for 2019 general elections.

But a top source simply said: “It is a reunion of Papa and his son. Do not read any meaning into it.

“The ex-President decided to make it a private visit in order to be able to have frank talks with Obasanjo.

“During the visit, Obasanjo and Jonathan locked themselves up for 40 minutes. No member of Jonathan’s entourage nor Obasanjo’s associates in Ibogun was allowed to be part of the private session.

“All I can tell you is that the two leaders were able to iron out a few things and Jonathan has since returned to Yenagoa, Bayelsa State.”

“At the end of the visit, ex-Minister Turaki, who is the Chairman of ex-Ministers Forum, gave the vote of thanks.”

Jonathan  started out as Obasanjo’s political godson having been plucked out of  office as Bayelsa State governor to become  presidential running mate in the 2007 election.

He went on to become president, following the death of President Umaru Yar’Adua and won the 2011 election.

The parting of ways came in 2015, following  persistent disagreements between them with Obasanjo launching vitriolic attacks  on Jonathan culminating in the     tearing of his membership card of the PDP and openly campaigning against Jonathan’s re-election.

They had not seen eye to eye since then until yesterday.

Posted On Sunday, 22 January 2017 01:03 Written by

SPONSORED BY X365TV.COM: U.S. President Donald Trump has pledged to be the president of all Americans irrespective of their colour or status.

Trump, who made the pledge in his inaugural speech as the 45th President of U.S., declared that “it is a new era for America.

“Whether we are black, red or white, we all bleed the blood of the same patriots”, Trump added.

Trump also said that he would make the American people the focus of his presidency.

“We are not taking power from one president to the other or from one party to the other but we are taking power from Washington to you, the people”, Trump said.

“January 20, 2017 will go into history as a day that the people become the president of this country again.

“I will fight for you with every blood in my body and I will never ever let you down.

“America will start winning again, winning like never before”, the president said.

He promised to concentrate on the security of the American border and the security of the country, lamenting that the country spent trillions of dollars to secure other countries instead of America.

He also promised to make affordable education, healthcare and housing the hallmark of his administration.

In a country deeply divided by Trump’s and Hillary Clinton’s unusual campaign, Trump called for the unity of all Americans.

“When America is united, we can do the impossible”, he said.

The president also said that the era of vain promises was over.

“It is no longer the era of talk, but now it is the era of action.”

He pledged to destroy terrorists wherever they are all over the world, saying that the world will be safe and secure under his presidency.

“We will seek peace and prosperity of other nations but we will put the interest and security of America first.”

“Let nobody tell you that it can never be done because no challenge is too big that can confront the determination spirit of the America.”

The president promised to bring back the prosperity of America saying, his slogan will be “Buy America, hire America”.

“America will start winning again, winning like never before.”

“We will bring back our jobs, bring back our wealth and we will bring back our dreams.”

“Together, we will make America great again, we will make America strong again, and we will make America better again”.

Trump paid glowing tributes to former president Barack Obama and his wife for their roles in ensuring peaceful and orderly transition.

Former Presidents Jimmy Carter, George W. Bush and Bill Clinton attended the inauguration with their wives, including Hillary Clinton, who was Trump’s fiercest challenger in the Nov. 8 presidential election.


Full text of President Donald Trump’s speech on inauguration day

Chief Justice Roberts, President Carter, President Clinton, President Bush, President Obama, fellow Americans, and people of the world: thank you.

We, the citizens of America, are now joined in a great national effort to rebuild our country and restore its promise for all of our people.

Together, we will determine the course of America and the world for many, many years to come.

We will face challenges. We will confront hardships. But we will get the job done.

Every four years, we gather on these steps to carry out the orderly and peaceful transfer of power, and we are grateful to President Obama and First Lady Michelle Obama for their gracious aid throughout this transition. They have been magnificent. Thank you.

Today’s ceremony, however, has very special meaning. Because today we are not merely transferring power from one Administration to another, or from one party to another – but we are transferring power from Washington, D.C. and giving it back to you, the people.

For too long, a small group in our nation’s Capital has reaped the rewards of government while the people have borne the cost.

Washington flourished – but the people did not share in its wealth.

Politicians prospered – but the jobs left, and the factories closed.

The establishment protected itself, but not the citizens of our country.

Their victories have not been your victories; their triumphs have not been your triumphs; and while they celebrated in our nation’s Capital, there was little to celebrate for struggling families all across our land.

That all changes – starting right here, and right now, because this moment is your moment: it belongs to you.

It belongs to everyone gathered here today and everyone watching all across America.

This is your day. This is your celebration.

And this, the United States of America, is your country.

What truly matters is not which party controls our government, but whether our government is controlled by the people.

January 20th 2017, will be remembered as the day the people became the rulers of this nation again.

The forgotten men and women of our country will be forgotten no longer.

Everyone is listening to you now.

You came by the tens of millions to become part of a historic movement the likes of which the world has never seen before.

At the center of this movement is a crucial conviction: that a nation exists to serve its citizens.

Americans want great schools for their children, safe neighborhoods for their families, and good jobs for themselves.

These are just and reasonable demands of righteous people and a righteous public.

But for too many of our citizens, a different reality exists: Mothers and children trapped in poverty in our inner cities; rusted-out factories scattered like tombstones across the landscape of our nation; an education system, flush with cash, but which leaves our young and beautiful students deprived of all knowledge; and the crime and gangs and the drugs that have stolen too many lives and robbed our country of so much unrealized potential.

This American carnage stops right here and stops right now.

We are one nation – and their pain is our pain. Their dreams are our dreams; and their success will be our success. We share one heart, one home, and one glorious destiny.

The oath of office I take today is an oath of allegiance to all Americans.

For many decades, we’ve enriched foreign industry at the expense of American industry;

Subsidized the armies of other countries while allowing for the very sad depletion of our military;

We’ve defended other nation’s borders while refusing to defend our own;

And spent trillions and trillions of dollars overseas while America’s infrastructure has fallen into disrepair and decay.

We’ve made other countries rich while the wealth, strength, and confidence of our country has dissipated over the horizon.

One by one, the factories shuttered and left our shores, with not even a thought about the millions and millions of American workers that were left behind.

The wealth of our middle class has been ripped from their homes and then redistributed all across the world.

But that is the past. And now we are looking only to the future.

We assembled here today are issuing a new decree to be heard in every city, in every foreign capital, and in every hall of power.

From this day forward, a new vision will govern our land.

From this day forward, it’s going to be only America First. America First.

Every decision on trade, on taxes, on immigration, on foreign affairs, will be made to benefit American workers and American families.

We must protect our borders from the ravages of other countries making our products, stealing our companies, and destroying our jobs. Protection will lead to great prosperity and strength.

I will fight for you with every breath in my body – and I will never, ever let you down.

America will start winning again, winning like never before.

We will bring back our jobs. We will bring back our borders. We will bring back our wealth. And we will bring back our dreams.

We will build new roads, and highways, and bridges, and airports, and tunnels, and railways all across our wonderful nation.

We will get our people off of welfare and back to work – rebuilding our country with American hands and American labor.

We will follow two simple rules: Buy American and Hire American.

We will seek friendship and goodwill with the nations of the world – but we do so with the understanding that it is the right of all nations to put their own interests first.

We do not seek to impose our way of life on anyone, but rather to let it shine as an example — we will shine — for everyone to follow.

We will reinforce old alliances and form new ones – and unite the civilized world against Radical Islamic Terrorism, which we will eradicate completely from the face of the Earth.

At the bedrock of our politics will be a total allegiance to the United States of America, and through our loyalty to our country, we will rediscover our loyalty to each other.

When you open your heart to patriotism, there is no room for prejudice.

The Bible tells us, “how good and pleasant it is when God’s people live together in unity.”

We must speak our minds openly, debate our disagreements honestly, but always pursue solidarity.

When America is united, America is totally unstoppable.

There should be no fear – we are protected, and we will always be protected.

We will be protected by the great men and women of our military and law enforcement and, most importantly, we will be protected by God.

Finally, we must think big and dream even bigger.

In America, we understand that a nation is only living as long as it is striving.

We will no longer accept politicians who are all talk and no action – constantly complaining but never doing anything about it.

The time for empty talk is over.

Now arrives the hour of action.

Do not let anyone tell you it cannot be done. No challenge can match the heart and fight and spirit of America.

We will not fail. Our country will thrive and prosper again.

We stand at the birth of a new millennium, ready to unlock the mysteries of space, to free the Earth from the miseries of disease, and to harness the energies, industries and technologies of tomorrow.

A new national pride will stir our souls, lift our sights, and heal our divisions.

It is time to remember that old wisdom our soldiers will never forget: that whether we are black or brown or white, we all bleed the same red blood of patriots, we all enjoy the same glorious freedoms, and we all salute the same great American Flag.

And whether a child is born in the urban sprawl of Detroit or the windswept plains of Nebraska, they look up at the same night sky, they fill their heart with the same dreams, and they are infused with the breath of life by the same almighty Creator.

So to all Americans, in every city near and far, small and large, from mountain to mountain, from ocean to ocean, hear these words:

You will never be ignored again.

Your voice, your hopes, and your dreams, will define our American destiny. And your courage and goodness and love will forever guide us along the way.

Together, We Will Make America Strong Again.

We Will Make America Wealthy Again.

We Will Make America Proud Again.

We Will Make America Safe Again.

And, Yes, Together, We Will Make America Great Again. Thank you, God Bless You, And God Bless America.

Posted On Saturday, 21 January 2017 02:48 Written by

SPONSORED BY CHIQUEMAGAZINE.COM: The UN Security Council on Thursday affirmed that Adama Barrow is now the legitimate President of The Gambia, declaring that “former President Yahya Jammeh is out”.

The President of the Security Council, Olof Skoog (Sweden), told the UN Correspondents after the adoption of the Resolution 2337 (2017) by consensus by the 15-Member Council.

The Correspondent of the News Agency of Nigeria (NAN) reports that the Resolution was sponsored by Senegal on the situation in The Gambia.

NAN reports that the Resolution by Senegal, sought the Council’s approval and support for ECOWAS to take all necessary actions to remove Jammeh and install Barrow as President.

“I just made a call to The Gambia’s President Adama Barrow to tell him that the Security Council is behind him and support him as the president.

“The Security Council affirmed support to President Barrow. The Resolution adopted just now is political.

“There is a strong request to former president Yahya Jammeh to carry out peaceful transfer of power to President Barrow.

“The Council resolved that the will of the people of the Gambia as expressed on Dec. 1 must be fully respected. That is the message of the UN Security Council.

“The Council urged all parties to exercise restraints. Jammeh is now out.

“The Security Council is now behind ECOWAS stands behind the efforts of ECOWAS to resolve the issue.

“The Council is following the events in The Gambia closely.

“The Security Council has directed the Secretary-General to report to the Council within the next 10 days.

“We know as we speak, political efforts are still ongoing to resolve the crisis peacefully,” Skoog said after the adoption of the Resolution.

He said that the Council wanted the political crisis to be resolved as bloodlessly as possible and would have preferred a peaceful resolution, if Jammeh would heed the call.

NAN reports that the Members of the Security Council, who contributed to the debate of the Resolution, included that of China, Japan, Russia, U.S., Senegal, among others.

They all affirmed their support to the Resolution and expressed concerns on the consequences of Jammeh’s action on the civilians in the country, the sub-region and the region, as a whole.

Posted On Thursday, 19 January 2017 22:45 Written by

SPONSORED BY 234NAIRA.COM: The U.S. has warned the embattled President Yahya Jammeh of The Gambia, saying he is losing opportunities to peacefully handover to President-elect Adama Barrow and avoid the consequences of his actions. 

Jammeh’s tenure ends Jan. 19, the same day that Barrow is expected to be sworn-in as his successor.

Both the African Union and ECOWAS have said that Jammeh will cease to be recognised as Gambian President from the date.

Spokesperson of the U.S. Department of State, Mr John Kirby, said at a press briefing on Tuesday that Jammeh was putting his legacy and The Gambia in peril.

“President Jammeh is losing opportunities to respect the will of the Gambian people and to peacefully hand over power to the president-elect, which is supposed to happen on Thursday.

“Doing so would allow him to leave office with his head held high and to protect the Gambian people from potential chaos.

“Failure to do so will put his legacy – and, more importantly, the Gambia – in peril, and we have been clear about this,” he said.

According to him, the accusation by Jammeh of external interference in The Gambia’s internal affairs is not tenable.

“I don’t know what interference he’s referring to, but we obviously want to see The Gambia succeed.

“And we want to see the president-elect properly installed and to have in place a government, which is responsible for and responsive to the needs of the Gambian people.”

The U.S. had on Friday, indicated support for ECOWAS to take all necessary action on Jammeh if he fails to handover to Barrow.

The U.S. had regretted that Jammeh’s action had made the situation in The Gambia to become “very uncertain”.

“We call on President Jammeh to listen to his own people, to listen to the Gambian people who have clearly called on him to accept the results of the Dec. 1 election.

“And to again agree to what he already agreed to, which is a peaceful handover of power to President-elect Barrow.”

Kirby, however, said the U.S. “believes that ECOWAS can certainly play an important role in providing security and addressing some of the concerns that there could be violence around the transition”.

He also said that the U.S. was not ruling out its support to a military action, saying: “We do, and I’m not trying to back away from that in any way, shape, or form.

“I just would say that we do, obviously, support ECOWAS as a force for peace and security in the region, and specifically in The Gambia.

“Well, again, I don’t want to speak to what possible actions they may take. I don’t want to get out in front of those decisions,” he said.

Kirby noted the unfortunate accidental airstrike on an internally displaced people’s camp in Rann locality of Borno.

According to him, the U.S. will continue providing the Nigerian Government with counter-terrorism assistance against the Boko Haram insurgents.

Posted On Wednesday, 18 January 2017 13:02 Written by

SPONSORED BY X365TV.COM: The Economic and Financial Crimes Commission (EFCC) has impounded a N948million aircraft allegedly linked with a former governor of Borno State who is under investigation. 

The aircraft was seized on Monday at the Maiduguri International Airport.


Anti-graft agencies have also placed two other private jets under surveillance at the Nnamdi Azikiwe International Airport in Abuja.
The grounding of the three aircraft is part of the ongoing investigation which traced some looted funds by some former political office holders to the purchase of private jets.

It was learnt that a Dornier aircraft 328 linked with the former governor had been earlier impounded, but it resumed operations without EFCC’s clearance.
Upon sighting the aircraft in Maiduguri on Monday, after months of watch-listing, EFCC detectives swooped on the crew and seized it.
The plane is marked N805PG and 5NBMH. It allegedly belongs to Skybird Air.

Detectives have interrogated the suspected beneficial owner of the jet, Mr. Samuel Ayodele, the Managing Director of Skybird.
A “beneficial owner” is a legal term where specific property rights (“use and title”) in equity belong to a person even though the legal title of the property belongs to another person.

An EFCC source, who spoke in confidence with our correspondent, said: “We impounded the Dornier 328 on Monday following suspicion in the manner in which it was acquired.

“Our detectives are working on clues that the aircraft belongs to a former governor of Borno State but it is being used by a front. We are already looking into relevant records; we want to establish who actually owns it.

“We are tracking how and when the aircraft was bought, where it was purchased, the mode of payment and the sources of funds.  This is definitely an international transaction; it is easier to trace the inflows and outflows from any account.”

“There are also some petitions containing allegations against the former governor concerning the aircraft and some public funds. If the aircraft cannot be identified with the ex-governor, the EFCC will release it to the beneficial owner.”
Ayodele is said to have told detectives that the aircraft was originally with the defunct IRS Airlines, which bought it with a loan of about N948million from a bank.

The source quoted Ayodele as saying: “I bought the liability from the bank and took over the aircraft because IRS was not able to pay back the loan.
“It is a clean business. Since I graduated from school, I have been working in the aviation sector.”
According to Wikipedia, “The Dornier 328 is a turboprop-powered commuter airliner, initially produced by Dornier Luftfahrt GmbH, which was acquired in 1996 by Fairchild Aircraft.”

Two other jets, suspected to belong to some former political office holders, have been placed on surveillance at the Nnamdi Azikiwe International Airport.
“The movement of the jets is presently restricted until the conclusion of our ongoing probe. All relevant agencies in the aviation industry are collaborating with us on these two jets. We are working on information made available to EFCC that they were bought with looted funds,” a source said.

On the identities of the owners of the jets, the source said they would not be disclosed until the EFCC has made substantial progress in their investigation.
Sections 28 and 34 of the EFCC (Establishment Act) 2004 and Section 13(1) of the Federal High Court Act, 2004 empower the anti-graft agency to invoke Interim Assets Forfeiture Clause on any serving or former public officer or any Nigerian under probe.
“Section 28 of the EFCC Act reads: ‘Where a person is arrested for an offence under this Act, the Commission shall immediately trace and attach all the assets and properties of the person acquired as a result of such economic or financial crime and shall thereafter cause to be obtained an interim attachment order from the Court.’

Section 13 of the Federal High Court Act reads in part: “The Court may grant an injunction or appoint a receiver by an interlocutory order in all cases in which it appears to the Court to be just or convenient so to do.
(2)  “Any such order may be made either unconditionally or on such terms and conditions as the Court thinks just.”

Posted On Wednesday, 18 January 2017 03:56 Written by

SPONSORED BY YES434.COM...THE BUSINESS DIRECTORY: A prosecution witness has revealed how a Senior Advocate of Nigeria (SAN), Mr Joe Agbi bought a car worth N8m for Justice Adeniyi Ademola who is being tried for corruption.

The prosecution opened its case on Monday and called its witness in Justice Adeniyi Ademola, his wife Olabowale and Mr Joe Agbi (SAN) case .

Ademola, his wife and Agbi were being prosecuted for alleged corruption before Justice Jude Okeke of an Abuja High Court.

They were arraigned by the Federal Government on a 16-count charge of criminal conspiracy in various ways contrary to Section 8(1)(a) of the Independent Corrupt Practices and other related offences Act 2000.

Ademola was among the seven Justices that the Department of State Services (DSS) carried out a sting operations on Oct. 8 and Oct. 9

The prosecuting counsel, Mr Segun Jegede, had on January 9 informed the court that he would file an amended charge to bring in a third defendant, Agbi a Senior Advocate of Nigeria (SAN).

The first prosecution witness, Ifeoma Ofornagolu, a sales consultant with Coscharis Motors, Lagos, told the court that she had been with the company for three years.

Ofornagolu said that she first heard the name of Agbi after a sales talk with Justice Adeniyi Ademola on his choice of car BMW 320i

She gave Agbi’s name as an attention person that means the payment would come from him, adding that the talk went on between December 2014 and January 2015.

The witness said the car was worth eight million naira and Joe Agbi & Associates paid for it through its Zenith account to the company’s Zenith bank account on January 5, 2015

She said she issued a receipt in the name of Adeniyi Ademola and the car was delivered at Lekki Phase 1, Lagos.

Ofornagolu said at the house they met Ademola and she did the check signed off and collected the car.

She told the court that she went with a driver and the delivery note.

She tendered the invoice, receipt, delivery note, certificate of identification and two email letters which were admitted in evidence.

Counsel to Ademolas, Onyechi Ikpeazu objected to the admission of the email letters, contending that they were not disposed by the witness.

He therefore urged the court not to admit it.

The 2nd and 3rd counsel aligned and Jegede withdrew the second email and the one addressed to Prince Niyi.

The witness told the court that she was invited to the headquarters of the Department of State Services (DSS) on Dec. 2.

She was interviewed and she made a written statement in her hand writing. The statement was tendered.

The prosecuting counsel complained to the court that the courtroom was not conducive for day to day proceeding.

An alternative venue should be given or the present venue be upgraded to be fit for usage, or an open place be assigned to allow for sufficient ventilation.

Ikpeazu viewed the complaint as not serious enough to stop proceedings.

Chief Roberts Clarke (SAN) said though there was less ventilation, however, the case should go on.

This same court room has been used, always and no casualty has been recorded. When the situation arises, the court would know what to do,” he said

Mr Jeph Njikonye aligned but added that the complainant was a member of the Federal Republic of Nigeria.

The judge ruled that the court complex has a central cooling system and that the chief registrar should be informed.

He said due to the nature of the case, the was an increase in the number of people attending the proceedings. He added that the facilities should be in order.

“In the interim, the doors and windows be opened. Meanwhile proceedings should commence, “ he said.

Jegede informed the court to allow for his opening statement as provided in section 300 of the Administration of Criminal Justice Act 2015.

Clarke said it was not mandatory that it could be waved.

Okeke ruled that as an opening statement he could go ahead since the plea has been taken as provided by that section .

Jegede said the prosecution had 14 witnesses to enable them discharge the burden of proof provided by the law. Twelve are factual witnesses while two are subpoenaed. The two are the Executive Secretary of National judicial Council (NJC) and the Chief Registrar of the Federal High Court.

Ikpeazu objected to the admissibility of the document.

He said the provision of the Evidence Act 2011 did not permit such as provided in sections 331 and 332.

Clarke said if there were no contradictions in her oral statements that the written statement was irrelevant and amounts to a waste of time.

Njikonye aligned and said that the statement was not made under oath but under caution.

Jegede said that the Sections 83 of the Evidence Act dealt exclusively with the cross examination not the evidence in chief.

He said they have not shown any legality or express of bar on the statement to tender.

Okeke adjourned till Jan. 17 to rule on the admissibility of the statement.

Posted On Tuesday, 17 January 2017 12:06 Written by

SPONSORED BY BUY656.COM: The Naira on Monday stabilised at N497 to a dollar at the open market just as stakeholders expressed hope in its imminent recovery, the News Agency of Nigeria (NAN), reports.

The Nigerian currency, however, strengthened against the Pounds Sterling, but weakened against the Euro at the open or parallel market as it closed at N595 and N517, respectively; from N597 and N515 posted on Friday.

At the Bureau De Change (BDC) window, the Naira traded at N399 to a dollar, a rate it would maintain for the rest of the week, while the Pound Sterling and the Euro traded at N604 and N522 respectively.

Trading at the interbank market saw the Naira weakened further at N305.25 to a dollar, from N305 posted on Friday.

Traders at the market said that while the scarcity of the greenback remained visible, there were strong indications that the Naira was on its way to imminent recovery.

NAN reports that since the closure in the sale of forex to BDCs last December, the spike in the Naira exchange rate had continued unabated.

Worried by the development, the Association of Bureau De Change Operators of Nigeria (ABCON) last week pushed for the adoption of a single rate at the market.

Alhaji Aminu Gwadabe, the President ABCON, argued that multiple rates were frustrating efforts at stabilising the Naira and fast tracking its recovery trajectory.

Gwadabe expressed optimism that the resumption in the sale of about N250 million dollars to members of the association this week would help in addressing liquidity challenges in the market.

Posted On Monday, 16 January 2017 15:55 Written by

SPONSORED BY 234NAIRA.COM: Justice Lateefat Okunnu of a Lagos High Court, Ikeja, on Monday ordered the state Commissioner of Police, Fatai Owoseni, to keep a convicted oil magnate, Ada Ugo-Ndagi, under watch pending when she would be transferred to prison.

The judge also ordered the Medical Directors of Havana Hospital, Surulere and the Lagos University Teaching Hospital (LUTH), to both swear to an affidavit of means, clearly stating Ugo-Ndagi’s health status.

Justice Okunnu gave the orders following the oil magnate’s failure to appear in court on Monday for sentencing.

The court had on Friday convicted Mr. Walter Wagbasoma and Ugo-Ndagi, Chairman and Managing Director of Ontario oil and Gas Limited respectively, alongside their company for N754million subsidy fraud charge preferred against them by the Economic and Financial Crimes Commission (EFCC).

At resumed proceedings of the court on Monday, Ugo-Ndagi, thorough her counsel, Mr. Y.A Kadiri, told the court that she was ill and has been hospitalised.

The woman slumped and fainted in the dock just when Justice Okunnu was about to pronounce her sentence on Friday.

Wagbatsoma was also not in court when the judge convicted them.

He was arrested in Germany for alleged involvement in a multi-million pounds sterling transaction.

He is presently in a United Kingdom prison in relation to the transaction.


Posted On Monday, 16 January 2017 15:01 Written by

SPONSORED BY YES434.COM...THE BUSINESS DIRECTORY:  The Federal Government has rejected the conditions given by the Bring Back Our Girls (BBOG) group for joining a day search sorties for missing Chibok girls to Sambisa Forest. 

In a letter addressed to the convener of the group, Mrs Obiageli Ezekwesili, which was made available to the media on Sunday, the government said it was unable to postpone the trip as scheduled.

The letter dated Jan. 14 was signed by the Minister of Information and Culture, Alhaji Lai Mohammed.

‘’Thank you for your letter, dated Jan. 13, which is in response to ours of Jan. 11, requesting that we change the date of the proposed guided tour of the North-East to accommodate a Pre-Tour Meeting between your organisation and some top officials of the Federal Government.

‘’We have also noted the conditions you gave for embarking on the trip which include the said Pre-Tour Meeting and the retraction of some remarks allegedly made by the Chief of Army Staff, Lt. – Gen. Tukur Buratai, which the #BBOG finds to be slanderous.

‘’We regret, however, to inform you that we are unable to postpone the trip as scheduled. ’’

The government insisted the team would proceed on the trip on Monday as scheduled because of the narrow window available to have a good weather on the day.

It said that payment for the satellite downlink streaming of the mission had been made for the day and shifting the date will require another round of booking to secure such a slot.

The government added that apart from the BBOG members, local and international journalists had been invited for the trip, while some preparations had been made by the Nigerian military.

It noted that the remarks purportedly made by the Chief of Army Staff and the request for a meeting with its certain top officials were irrelevant to its request for the BBOG to join in the search mission.

The government stressed that it extended the invitation to the BBOG in recognition of the group’s commitment to the safe release of the Chibok girls in captivity and interest in the welfare of those who had been released.

‘’We hope that the BBOG will drop its conditions and join the trip which shows the commitment of the Federal Government to securing freedom for the Chibok girls and its transparency in handling the issues of the girls. ’’

The government had in a letter of Jan. 11, invited members of BBOG to a short trip in a military operational flight into Sambisa forest in search of the missing Chibok girls.

In the letter, the government asked the BBOG to nominate three of its members to join on the guided trip out of which two would join the sorties due to limited seats on the search plane.

The government had stated that the trip would avail the BBOG the opportunity to witness and better understand the efforts being made to secure the freedom of the girls and other victims of Book Haram terrorists.

The BBOG had in its reply to the invitation letter requested the government to meet certain conditions before the tour and also demanded for a change in the scheduled date.

Specifically, the group requested a Pre-Tour Meeting with some officials of government and a retraction of some remarks allegedly made by the Chief of Army Staff, which it alleged are defamatory.

Read Federal Government’s letter below:

Posted On Sunday, 15 January 2017 14:04 Written by

SPONSORED BY 234NAIRA.COM: Popular money-doubling scheme, Mavrodi Mundial Moneybox (MMM), which resumed activities Jan. 14, 2017, after placing a one-month ban on all withdrawals from Dec. 13, 2016, has succeeded in filling the hearts of Nigerians with joy.

MMM Nigeria investors and participants yesterday organised a get-together to celebrate the return of the Ponzi scheme amidst serious dancing and jubilation.

Following the unfreezing of access to confirmed Mavros, Nigerian participants engaged in serious celebrations over the new development as they couldn’t hide their happiness.

Prior to the unfreezing, many predicted doom while relating the one-month freezing of confirmed Mavros placed on Nigerian participants accounts to similar incidents of fraud in South Africa, Zimbabwe and other countries the scheme had initially being present.

In a Facebook video which has been making waves on the internet, excited participants danced and jubilated in sheer excitement to the new development.

Posted On Saturday, 14 January 2017 12:00 Written by
Page 10 of 50