Nigerian Senator In Prison Over Death Of NURTW Leader

Nigerian Senator, who is also the current Senate leader at the national assembly, Teslim Folarin was, on Tuesday, arraigned before a Magistrate Court, Ibadan over the murder of the former factional leader of the National Union of Road Transport Workers, NURTW, Oyo State branch, Alhaji Lateef Salako, a.k.a Eleweomo who was shot-dead on 30th December 2010 during the primaries of the state peoples democratic party.

Chief Magistrate Fatimah Badrudeen of Court 1 had remanded Folarin and three other accused persons in Agodi Prison till January 14 when their case will be heard by a court of competent jurisdiction.

Others sent to prison are Raimi Ismaila, Olayide Raji and Jayeiola Bankole.

Senator Folarin was arrested on Monday and detained by the Oyo State Police Command over the death of Eleweomo.

A former President of the, Nigeria Bar Association, Mr. Rotimi Akeredolu (SAN), with about 14 other lawyers appeared for the defendants while Mr. M.O Ojeh was the prosecuting counsel.

The charges preferred against Mr.Folarin, Ramoni Jayeoba, Bankole Olaide Raji and Raimi Ismaila, read: "On December 30, 2010 at about 11.30 a.m., at Olunloyo Ogbere, Ibadan in the Ibadan magisterial district (the accused) did conspire with others at large to kill Lateef Salako (a.k.a. Eleweomo)".

Mr. Mathew Ojeh, further told the court that Senator Folarin with the three others and others at large "on the same date and time at Olunloyo Ogbere, Ibadan did murder Lateef Salako (a.k.a. Eleweomo) by shooting him with gun."

Counsel to the defendant, Mr. Akeredolu, however, submitted that the court had no jurisdiction to handle the allegations against the senator being a magistrate court. He pleaded that Folarin be remanded at Agodi Prison "pending the time proper application is filed at the High Court and for us to take proper bail application at the High Court". Akeredolu then urged the court to adjourn the matter till January 14 2011.

The Chief Magistrate agreed with Akeredolu that the court did not have jurisdiction to entertain the case. She then ordered that Folarin and others be remanded at the Agodi Prison till January 14, 2011, as suggested by Akeredolu when the bail application would have been filed and argued at the High Court. 



Source: enownow

Central Bank Governor of the Year for Sub-Saharan Africa 2010

Nigeria’s central bank chief’s radical intervention in his country’s financial sector at a time of crisis helped prevent an even bigger collapse – and, with any luck, forestall the next one

It’s been a baptism of fire. Sanusi Lamido Sanusi – one of the most energetic and tenacious figures in Nigerian business – took office as Nigeria’s central bank governor in June 2009 at the peak of the country’s banking crisis.

The oil price crash – and subsequent stock market tumult – triggered a wave of defaults on banks’ margin loans to stockbrokers. Asset values across the board slumped in value. The result? Half of Nigeria’s indigenously owned banks posted a negative capital base.

Since his appointment, Sanusi, the former head of First Bank of Nigeria, has been catapulted into the global limelight. His bruising efforts to save, and reshape, his country’s financial system have received international and domestic acclaim – as well as controversy.

Sanusi’s first move in the job was to keep the inter-bank lending markets functioning. He slashed interest rates to 2%. In August, the governor bailed out five of the leading banks to the tune of $2.6 billion and fired its chief executives. A second audit of the banking system led to further capital injections and the sacking of three more bank bosses.

This year, Sanusi has established an Asset Purchase Facility to buy government securities in order to boost domestic liquidity, while new regulations to dismantle the universal banking model will come into force shortly.

After legislative approval, an Asset Management Company has been established that will buy toxic assets and strengthen banks’ balance sheets. Although the strategy has yet to translate into a strong resurgence in credit growth, accolades for the banking reforms have poured in. “Without the governor’s aggressive intervention, we would have had an even bigger collapse in the banking system, and the system is now much stronger for it today,” says Stephen Olabisi Onasanya, CEO of the First Bank of Nigeria.

The manner of Sanusi’s reforms – as much as the pace and substance – has been uncompromising. Last year, for example, Sanusi published a list of debtors to leading banks. This was aimed at exposing “the politically connected individuals who would ordinarily undermine the reform process,” he tells Emerging Markets. “Many were forced to pay off their debts to get off the list as the publication of it undermined their credibility.”

Sanusi’s moral distaste for bad bankers may appear populist. But his reformist zeal is genuine and constructive. “From the beginning I saw my job as a war; I have to be intelligent, strategic and fight regressive economic and political forces.” On a personal level, he has paid the price: armed security guards now accompany the governor, as his anti-corruption drive has triggered threats of reprisals.

Sanusi has also benefited from a degree of luck.

Late president Umaru Yar’Adua, who was propelled into power in the 2007 elections, gave the governor the power to enact a root-and-branch overhaul of the financial sector. Astonishingly, Sanusi says Yar’Adua issued a fiat last year that granted the central bank’s lawyers the power to prosecute corrupt financiers. This gave Sanusi the power to control the prosecution process, and even an element of control of the security forces.

However, Sanusi says he lacks the “temperament for political office”. Nevertheless, the manner of his radical overhaul of the banking system – which has to-date successfully navigated vested economic and political interests – could serve as a springboard for a flourishing political career once his term ends.

Source: emergingmarkets.org

CBN Extends Deadline on Update of Bank Accounts

The Central Bank of Nigeria (CBN) has extended the deadline it gave customers of banks to update their information with the financial institutions from December 31, 2010 to January 31, 2011.

 

In a press release from the spokesperson of the bank, Mr. Mohammed Abdullahi said that “having reviewed the progress made so far and the response of the banking public, the CBN has extended the deadline for the information update of bank accounts from 31st December, 2010 to 31st January, 2011. The Bank has therefore directed all financial institutions to ensure compliance with the revised deadline and suspend operations of all accounts with un-updated information with effect from 1st February, 2011.”

 

It would be recalled that the CBN on 29th November, 2010 directed that all customers of banks and financial institutions in Nigeria should update their account information by 31st December, 2010 failing which the affected accounts would be suspended with effect from 1st January, 2010.

 

The account update is part of the Customer Due Diligence (CDD) which involves Know Your Customer (KYC) compliance which is accepted worldwide as a tool for the fight against money laundering and terrorism financing as well as protecting the interest of customers. All banks are required to ensure compliance.

Source: proshareng

Facebook's $500m Goldman Sachs deal makes Mark Zuckerberg worth $14bn

Facebook has raised $500million in a deal that values the company at $50billion, making 26-year-old founder Mark Zuckerberg worth almost $14billion.

If you're worth $14billion at 26, how much will you be worth at 50? Wow!!!

Goldman Sachs invested $450million and Russian investment firm Digital Sky Technologies invested $50million, the New York Times reported, citing people involved that it did not name.

The new cash will let Facebook lure and retain employees, develop more products and possibly pursue acquisitions without being publicly traded.

The $50billion valuation would make Facebook worth more than Yahoo!, eBay and Time Warner.
Zuckerberg, who owns about a quarter of Facebook's shares, is one of the world's youngest billionaires and now one of the wealthiest of any age.

The newspaper said the deal may double Zuckerberg's personal fortune, which Forbes estimated at $6.9billion when Facebook was valued at $23billion.
Previously number 212 on Forbes' list of the world's billionaires, $13.5billion would catapult him into the top 40.
Representatives for Facebook, Goldman and Digital Sky Technologies declined to comment.
Goldman has the right to sell part of its stake, up to $75million, to the Russian firm.
The U.S. Securities and Exchange Commission is reportedly looking into the booming trade in privately held shares of popular social networking sites.

Growth: The $500m injection will enable Facebook to stay private while providing it with cash to make purchases, recruit top-level employees and develop new products.

A big reason the SEC may be curious about the trading of these popular private startups' shares is because once a company hits 500 shareholders, it must disclose certain financial information to the public, even if it hasn't filed for an initial public offering.

The Times reported that Goldman is planning to create a 'special purpose vehicle' that may be able to circumvent the 500 shareholder rule because it would be managed by Goldman and considered just one investor, even though it could conceivably be pooling investments from thousands of clients.
Shares of privately held companies can be traded on private stock exchanges such as SecondMarket, based in New York, and SharesPost, based in San Bruno, California.

The shares are generally sold by former employees or early investors in these companies.
Only institutional investors or high net-worth individuals – those worth more than $1million – can buy the shares.
But for those who can sell them, the market is on fire.

On SharesPost, a completed contract between a buyer and a seller valued shares of Palo Alto, California-based Facebook at $25 each.
This implies a valuation of nearly $57billion for the world's largest social network, with 500million-plus users worldwide.

Source: Daily Mail UK

Shania Twain marries the husband of the woman who stole her own husband...yeah, it's as complicated as it sounds...lol

Shania and Frederic on wedding day

In a real-life-wife swap story, Canadian country singer Shania Twain 45 (worth $450m), married businessman Frederic Thiebaud, 40, on January 1, 2011. Their marriage comes two and a half years after they discovered their respective ex-spouses were having an affair. Twain was devastated to discover her first husband Robert Lange, was having an affair with her best friend, Marie-Anne Thiebaud, then wife of Twain's new husband, Frederic.

After initially consoling each other in the aftermath of the marriage breakdowns, Shania and Frederic's friendship developed into love, and they are now married.

Shania's ex husband is still with Frederic's ex-wife. They live together.

Sounds like something made up, huh? These oyibo people sef...lol
All the best to them.

Government to Appoint Anti Terrorism Chief

An emergency meeting of security chiefs was held yesterday behind closed doors in Abuja. The meeting, which was presided over by President Goodluck Jonathan, was summoned to deliberate over the spate of bombings and security breaches across the country.


A source said the president ordered the security chiefs to discuss and find how to bring the violence that has become common across the country under control. It was gathered that the president expressed concern that security has become a challenge, thus leading to loss of lives and raising fears over the elections coming up in April.

On the eve of Christmas, series of bombs exploded in different areas of Jos leading to the death of over 80 people, while another exploded at a People’s Democratic Party (PDP) rally in Yenogoa, Bayelsa State. On December 31, there was a bomb explosion at the Mogadishu Barracks in Abuja, killing four persons while several others were injured.

Source: 234Next

I’m not a lesbian —Waje

After featuring in the Zain musical challenge and the ‘Do Me’ hit track by the duo P Square, Iruobe Aituaje Ebele popularly known as Waje has continued to step up her game. When Sunkanmi Ogunade met her recently in Ibadan, she debunked rumours of her having a queer sexual life. Excerpts:

You featured in the song Do Me with the mighty duo P-Square. Was that your major break?

To be very candid, the Do Me track was my debut. It sold me out beyond my imagination. I got noticed by almost everybody. After the hit track, I decided to put more effort into my music. I had done something for them before; I remixed the Omoge Mi track as Bobo Mi. They listened to it, liked it and featured it in their album.

Do you still have a cordial relationship with them?

Yes, I do. We still relate well.

What is the next step for Waje?

The next big thing is my album. I am currently working extra hard to compose good songs and make my fans happier. The whole big thing has to do with a lot of things. My album, musical videos, my person, etc. I am working on my album and I hope to drop it as soon as I get what I want.

How many years have you spent in the music industry?

I have spent like six years but I give glory to God today. When, I started many years back, it was rough and harsh. You would sing all your hearts out and somebody somewhere would just rubbish your handwork. I felt like backing out but today, it’s a different ball game. People have come to love what we do, even if they don’t agree with your idea, they would encourage and even pray for you.

Do you have any record label right now?

I don’t have any record label but that would end pretty soon. I am on the edge of striking a deal. When it happens, you would be the first to know. I promise

One of your videos ‘Can I be your girl?’ is enjoying massive air play. How do you feel?

I feel very great. We spent a lot of money on that video. It was not shot here; we travelled out of the country to shoot the video. The expenses were just too high, but we had no choice. You also have to make enough appearances and the rest of them. It’s just on the high side.

So, if I may ask, where do you get all the funds for your projects?

To be very sincere with you, my brother, God has been so good to me in that aspect. All my life, I have been fortunate, if I may say. I have not had any reason to regret venturing into music. I have been doing some money fetching engagements and it has been colourful. I get assistance from people very well. For that video, it was just God oo. I work for my funds and God provides the rest.

Have you faced sexual harassment in the industry?

I don’t think that is new. It has been and will continue to be. It is even part of the make-up of the industry. When I hear cases of sexual harassment especially in this industry, I am not always surprised. I have never been harassed in any way before. I have been very lucky.

Are you saying it is very normal?

Yes, I am principally saying that it is normal and it is also part of the challenges we face.

Are you in a relationship?

No.

Why?

I don’t have any reason for you! I am single and I am not searching. I want to face my music totally.

Are you a lesbian?

Lol! No. I am not o! I am not a lesbian. Okay, let me say this. If I commence a relationship tomorrow, I will inform you.

Hope you know time is going?

What do you mean by time is going? I am not searching abeg. Don’t put words into my mouth (laughs).

What is the full meaning of WAJE?

Words Aren’t Just Enough.

In Can I be your girl?, are you referring to anybody?

No, it was a song I wrote naturally. I am not referring to anybody o. In this part of the world, you don’t beg to date the opposite sex, and they do that. I am not referring it to anybody o!

How was growing up like?

It was fun. It was like any other average person’s. I learnt a lot while growing up. It was fun for me and I still have those colourful memories. Growing up was peaceful and interesting.

As an artiste, how do you rate the Nigerian music industry?

The Nigerians music industry is fast growing because we are definitely not what we used to be five years back. I strongly believe that the fast growth of the music scene will make the industry very big in a few years to come and talented acts will have a platform to showcase themselves.

What should your fans expect from you soon?

They should expect more good music, the message being as positive as ever. I promise them that I will not disappoint. Finally, I thank all my fans, for their love, care and steadfastness all these years. I love them all.

President Jonathan Pledges Significant Improvement in Security, Power Supply and National Infrastructure in New Year Message

President Goodluck Ebele Jonathan has promised Nigerians significant improvements in security, power supply, national infrastructure, education, healthcare and employment generation in 2011.

In his new-year message to the nation, President Jonathan pledged that his administration will work even harder in the coming months to ensure that ordinary Nigerians begin to feel the tangible benefits of the economic growth recorded by the country in recent years.

The President said that the Federal Government will give particular attention to the effective implementation of the new national job creation scheme for which N50 Billion has been earmarked in the 2011 Appropriation bill to create thousands of new jobs for the country’s unemployed youth.

He said that to further boost employment, his administration will also initiate a massive national public works programme in the 36 states of the Federation and the Federal Capital Territory for the renovation, rehabilitation and upgrading of schools, medical facilities, roads and other public utilities.

President Jonathan said that in addition to the N500 Billion intervention fund which has been established for the country’s power, manufacturing and aviation sectors, a $500 Million facility will also be made available to support small and growing businesses.

Sanusi is Silverbird’s Man of the Year

The CBN Governor Sanusi Lamido Sanusi has emerged as the 2010 Silverbird Man of the Year. He was voted enmasse by the Nigerian people by text messaging.

Most Nigerians who received the news, believe his choice as the Silverbird Man of the Year was based on his frankness and fearlessness in policy formulation and ,more importantly ,his recent revelation about how twenty five percent of the national budget is spent on federal legislators. Other contenders for the prestigious award in 2010 were Aliko Dangote (Chairman Dangote Group) ,Funke Osibodu (CEO Union Bank Plc, Olusegun Aganga (Minister of Finance), Ahmadu Giade (NDLEA Chairman) & Funke Opeke (CEO Main One Cable).

The Silverbird Man of the Year was initiated in 2006 to celebrate outstanding and extraordinary Nigerians.

Nigerian capital Abuja hit by barracks bomb

Several people have been killed by a bomb blast at a bar near a barracks in Nigeria's capital, Abuja.

Nigeria's president condemned the attack, blaming it on Islamists who claimed responsibility for a recent bombing in the north of the country.

The explosion happened in a market where soldiers and civilians often gather to eat and drink beer.

A police spokesman said four people had died, while military sources have told the BBC 11 people were killed.

In a statement issued by his spokesman, President Goodluck Jonathan called the attacks "evil" and "wicked".

"Basking in their nefarious success in Jos on Christmas Eve, they have once again knifed at the heartstrings of a nation decked out in gaiety, celebrating New Year's Eve," he said.

An Islamic sect known as Boko Haram said it had carried out the attack in Jos, but there was no immediate claim of responsibility for the Abuja bombing.

New year's revellers

State TV initially reported that 30 people were killed. But police spokesman Jimoh Moshood said four people had been killed - three men and one woman.

Witnesses have told the BBC they saw body parts lying on the ground and injured people being carried away after the blast.

"People ran in different directions. There were scores of bodies - dead and wounded. They used army trucks to pack them away," a market regular called Eric was quoted as telling Reuters news agency.

The area was sealed off.

Air Marshal Oluseyi Petiri said a bomb had been placed "where people were relaxing and generally being happy because of the New Year which is approaching".

He urged Nigerians to be vigilant following a recent spate of bomb attacks in a country where they had been almost unknown.

"Do not allow anybody to come and leave a bag, or any kind of object, especially when he is not there," he told state TV.

There have been bomb attacks in the capital and other cities in recent weeks:

On Wednesday, two blasts disrupted a political rally in the southern city of Yenagoa, wounding several people

Bomb attacks in the city of Jos, a flash-point between Nigerian Christians and Muslims, left 80 people dead over Christmas - an Islamist group said it was behind these attacks

In October, at least 12 people were killed in explosions in Abuja as the country celebrated 50 years since independence from the UK - this was blamed on oil militants

The market is near the Sani Abacha barracks, named after Nigeria's late military dictator, in Asokoro district, home to the presidential palace and said to be the city's most secure area.

Officially renamed the Mogadishu Cantonment, the barracks is still known to many by its old name.