The story is the Sunnewsonline

Twenty-four hours after former President Olusegun Obasanjo advised the Federal Government to adopt “carrot and stick” approach in tackling Boko Haram, presidential spokesman, Dr. Reuben Abati, has told the Nigerian leader to pocket his counsel. In fact, Abati said Obasanjo is confused. Obasanjo told Zain Verjee on CNN International interview on Tuesday that President Goodluck Jonathan should use the stick to check the menace of the Islamist sect whose campaign has killed over 2,500 people during attacks on churches and mosques.

Reacting to Obasanjo’s interview for the second time yesterday, Abati, in four tweets, said Obasanjo is apparently confused over the Boko Haram menace with his recent suggestion that the “carrot and stick” approach should be employed to address the insurgency. Obasanjo had, in the CNN interview, accused President Jonathan of only using the stick approach to address the problem rather than ‘a double track’ approach.

“To deal with such group, you need ‘carrot’ and ‘stick’ approach. ‘Carrot’ is finding out what, how to reach out to them and ‘stick’ is when you are trying to reach out to them, those that are amenable to be reached out to, you have to use the stick approach”. But Obasanjo’s new posture, however, drew the ire of the Presidency, as Abati picked holes in the suggestions of the former president, saying it smacked of contradiction and confusion.

He said Obasanjo had earlier accused President Jonathan of being too soft on Boko Haram at a function in Warri, Delta State where he suggested an Odi solution (genocide) to the Boko Haram insurgence “Jonathan administration has shown creativity and purposefulness in handling the Boko Haram challenge. Hence, the progress we witness. “One report says Obasanjo is recommending a multifaceted approach to Boko Haram. This government certainly doesn’t need a lecture on that,” Abati tweeted.

Obasanjo and the Presidency had engaged in a veiled war of words since last year over perceived plan by Jonathan to contest a second term in 2015. Although, the President was yet to declare his intention, Obasanjo had never concealed his posture that the next president must come from another zone of the country and not from the South-South where Jonathan hailed from.

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The story is from Premiumtimesng

UNIBEN says Prof Ibeh did not carry it along in his research and cannot authenticate his AIDS cure claim

The University of Benin has disowned claims its researchers have found a cure for HIV/AIDS, a day after one of its professors, Isaiah Ibeh, announced a new drug which he said was capable of wiping out the virus from a patient in 30 days.

Mr. Ibeh, who is the Dean of the School’s Basic Medical Sciences, said he has conducted trials on five HIV patients, and the outcome showed the drug, Deconcuction X (DX)–Liquid or Bioclean 11, has the potency to destroy the virus.

He said more volunteers were undergoing treatment and that the efficacy of the medication, a herbal product, has been reviewed by US Toxicologists.

But the school’s Provost, College of Medical Science, Vincent Iyawe, said on Wednesday the school was not “consulted’ or “carried along” in the research, and said protocols for such studies were also not followed.

“The school will like to take credit for a breakthrough, but the school cannot align with the breakthrough because the university college was not consulted and the university was not consulted, Mr. Iyawe, a professor, was quoted as saying.

He said the findings needed to be presented to the federal ministry of health and exposed to more comprehensive clinical trials.

“We are going to take it (drug) to the clinical laboratory; we are going to take it to the Federal Ministry of Health because they have a procedure there,” he said. “We’ll probably take it to NAFDAC because it is a unit or department of the ministry.

“We’ll take it for clinical trial, and many things we’ll have to do before we can announce that we discovered something. In fact, we have to take it to the World Health Organization. So these are the things we are discussing.”

A full statement conveying the university’s position will be issued later, officials said.

But earlier media reports quoted a spokesperson for the school as admitting knowledge of the success of the new drug.

Many had welcomed Mr. Ibeh’s announcement that the drug developed by his team could cure AIDS with guarded optimism, and outright rejection.

Critics queried the depth of Mr. Ibeh’s trial, and why the work had not been properly peer-reviewed and well exhibited before international experts and health organizations, and listed in renowned scientific journals.

Mr. Iyawe, the provost for medical sciences, said the clarification was to protect the name of the institution, and Mr. Ibeh.

Later, Mr. Ibeh told PREMIUM TIMES he was aware of the procedures and was willing to go through them, partly faulting media reports for underplaying the aspect of his remarks which made clear the work was inconclusive.

“Some of the publications are not taking note of that,” he said. “What we said was that the preliminary results are very encouraging. Some even mis-spelt sero.”

He said he was still working to get “all answers to all questions”.

He said he was satisfied with the position of the university and was confident he could count on the support of the school. He said part of the work he did was funded by the university.

“When we are making the announcement, it will be in the name of the university and I will be by the side,” he said.

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See the news at SaharaReporters

An overwhelming majority of members from the PDP’s National Working Committee dealt an embarrassing setback to the national party chair when they rescinded the party’s earlier decision to dissolve its Adamawa State Executive Council.

Party chair Dr. Bamanga Tukur was not present at the time of the vote to rescind by 10 of the committee’s 12 members.

Intrigue at the PDP Committee led Dr. Tukur to schedule, then cancel a press briefing organized for Wednesday.

The press briefing was aimed at condemning the actions of the rebellious 10 NWC members, who scolded Tukur for the crisis going on in the party in his home state of Adamawa.

Invitations had already been sent out that the briefing would hold at 10am in his office at Wadata Plaza, headquarters of the crisis-ridden party.

When he changed his mind, he sent another invitation that one of his aides would speak on his behalf. However, at the end of the day, neither he nor any of his aides showed up for the briefing, which was then cancelled.

Meanwhile, President Goodluck Jonathan met with the leadership of the party and the governors, who reportedly pushed for the removal of Tukur.

The meeting, which was held at the President Villa, Abuja, was also attended by the Vice President, Namadi Sambo.

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The story is from SaharaReporters.

The presidency has paid nearly N1billion to the family of late President Umaru Yar'Adua, according to an official memo obtained by SaharaReporters.

The slush funds were routed through the Katsina state government, the home state of the former president.

The payment includes about N150 million to Mrs. Turai Yar'adua, as well as the late president's aged mother, his married daughters, and sons.

It is yet unclear if any provision was made for his second wife, Hauwa Umar Radda, whom the late president divorced in 1997, shortly before he became the governor of Katsina state.

Although she has received the biggest payout, it would be recalled that it was the controversial former First Lady, Turai, who pushed Nigeria to the brink of a political crisis between 2009 and May 2010 while her husband was hospitalized in Saudi Arabia. He eventually returned and died inside the Aso Rock Villa.

Mrs. Yar'Adua was at the head of a cabal of Ministers, aides and security agents that manipulated the nation for many tense months as they clung to power, almost leading to the collapse of the government.

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The story is from the Sun   

A senior lecturer of the University of Benin (UNIBEN), has landed in trouble for extorting N100, 000 from a female student . The lecturer (name withheld), who is in the Faculty of Law was arrested by the university’s security personnel and handed over to the police after he allegedly collected the marked money from the student to change her course of study from English Language to Law.

It was learnt that the arrest of the lecturer had led to the busting of a syndicate that specialized in extorting money from students in the institution. Informed sources at the university revealed that the suspect, said to have strong links in the committee constituted by management to coordinate students’ inter-faculty movement every academic session, used his vantage position to compel the female student to pay N150,000 to approve her request for a switch from the Faculty of Arts to the Law faculty.

It was gathered that the student, who could not immediately raise the money, following pressure mounted on her by the lecturer, reported to another lecturer, who decried the planned extortion and encouraged her to formally lodge a complaint with the higher authority in the institution. Following the advice, the student played along and called the lecturer that she could only raise N100, 000, which she was promptly directed to pay into a certain account given her by the lecturer.

Luck, however, ran against the lecturer when he called the girl’s mobile phone, asking her to discontinue the bank arrangement and instead, to bring the money to him in his office, just when she was going to pay the money into the bank account earlier given to her. Sources told Daily Sun that no sooner that the female student delivered the marked money to the lecturer than the alerted personnel from the security unit swooped on the unsuspecting lecturer and handed him over to the police.

A search in the lecturer’s office by the university security personnel was said to have led to the discovery of a list of 18 students, including the female student who paid the N100, 000.00. When contacted, the Public Relations Officer of the university, Mr Harrison Osarenren, confirmed the report, saying “with the arrest, we will try and rid the system of bad eggs.”

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The story is from dailypost

After a tough battle with about five contenders, including the newly appointed chairman of the Nigerian Ports Authority, Tony Anenih, former Senate President, Ken Nnamani, Okwesilieze Nwodo, Emmanuel Iwuanyanwu and Shuaibu Oyedokun, a former national chairman of the Peoples Democratic Party, PDP, Ahmadu Ali, has emerged as the party’s new Board of Trustees’ chairman, BoT as President Olusegun Obasanjo voluntarily retired last year.

Prior to the election it had been thought that the new BoT chairman would emerge by consensus as against a ballot. But none of the contenders agreed to step down for another.

In line with Article 12.77 of the party’s constitution, the contenders agreed that the election would determine the acceptability of the winner.

Conveying the party’s decision to the public, the board’s secretary, Walid Jibrin, said the PDP at its December meeting failed to agree on a consensus candidate and had thus settled for the process of election which had been fixed for today.

Jibrin, however, said that today’s winner would serve a single term of five years in accordance with the party’s constitution.

Ali’s emergence, political pundits believe shows the ascendancy of former president Obasanjo in the power equation in the PDP as Ali is believed to be his preferred candidate.

Ali’s defeat of Anenih, perceived to be the candidate of President Goodluck Jonathan is seen as a political signal of his waning hold on the power levers of the party.

Jonathan who is believed to want to run in the 2015 presidential election, has recently appointed Anenih into the “juicy” NPA board post.

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The story is from vanguard

FORMER President Olusegun Obasanjo, yesterday, said more could be done to reach out to the militant Islamist group Boko Haram to find out what leads it to carry out acts of violence.

Obasanjo who spoke in an interview with CNN, suggested the current government should adopt a dual-track approach rather than just cracking down on the group.

He said: “To deal with a group like that, you need a carrot and stick. The carrot is finding out how to reach out to them. When you try to reach out to them and they are not amenable to being reached out to, you have to use the stick.”

Obasanjo said President Goodluck Jonathan was “just using the stick” in his efforts, noting: “He’s doing one aspect of it well, but the other aspect must not be forgotten.”

President Jonathan and Gen. Obasanjo (Rtd)

The former president said he had tried to reach out to Boko Haram about a year and a half ago through a lawyer who was acting as the group’s proxy, and had asked if they had external backing. He said the lawyer told him that the group was receiving support from other Nigerians who have resources overseas or “other organizations from abroad.

“If they had 25 per cent support a year and a half ago, today that support has doubled,” Obasanjo said.

Analysts suggest that reaching out to Boko Haram may be increasingly difficult because the group has split into different factions, some with a domestic focus and others with a more pan-jihadi approach.

Resolving the issue is key to Nigeria’s progress, according to Obasanjo, who now heads an eponymous foundation that is working to promote human security across Africa.

“Boko Haram undermines security, and anything that undermines security undermines development, undermines education, undermines health, undermines agriculture and food and nutrition security,” he said.

Obasanjo who spoke in an interview with CNN, suggested the current government should adopt a dual-track approach rather than just cracking down on the group.

He said: “To deal with a group like that, you need a carrot and stick. The carrot is finding out how to reach out to them. When you try to reach out to them and they are not amenable to being reached out to, you have to use the stick.”

Obasanjo said President Goodluck Jonathan was “just using the stick” in his efforts, noting: “He’s doing one aspect of it well, but the other aspect must not be forgotten.”

The former president said he had tried to reach out to Boko Haram about a year and a half ago through a lawyer who was acting as the group’s proxy, and had asked if they had external backing. He said the lawyer told him that the group was receiving support from other Nigerians who have resources overseas or “other organizations from abroad.

“If they had 25 per cent support a year and a half ago, today that support has doubled,” Obasanjo said.

Analysts suggest that reaching out to Boko Haram may be increasingly difficult because the group has split into different factions, some with a domestic focus and others with a more pan-jihadi approach.

Resolving the issue is key to Nigeria’s progress, according to Obasanjo, who now heads an eponymous foundation that is working to promote human security across Africa.

“Boko Haram undermines security, and anything that undermines security undermines development, undermines education, undermines health, undermines agriculture and food and nutrition security,” he said.

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More often than not, we complain about our memory as being unable to recall or remember what we have read as Students or those lecturers we have listened to, but the truth of the matter is that most of the  time, we have failed to commit to memory things we heard and read. You must note one thing- committing things to memory should be a conscious effort. Below are a few tips that will help you improve your memory.

(a) Keen observation:   

Keen observation is basic and essential to improving your memory. Many a times, we see things without observing them and we just hear what people say without listening to them. For you to improve your memory, you must be able to observe things critically and listen attentively when somebody is communicating to you. Here is a test for you to knoW if you just see without observing

1. Which colour is on top of the traffic light? 

Is it the red or the green? Your thought might be that it is probably a simple question but I want you to put yourself  in this position- you are on the popular MTN show ‘Who wants to be a Millionaire’ and Frank  Idoho  puts this question across to you and it is worth 1 million naira and you don't have any Life line left. So which light is on top - red or green? Yap, you are probably hesitating now and thinking of the right answer and you probably passed through the traffic light some hours ago. You see! You saw the traffic light but failed to observe it. There is a big difference between seeing and observing. By the way, the red light is always on top and the green, is at the bottom and if there is a third colour [usually yellow, for caution), it is always at the center. But if you got the answer right, it means you are among the few minorities who observe. Well, let me see if I can puncture your pride a little bit with another observation test.

2.  Don't look at your Wristwatch. Don't! And answer this question- is the number six on your wristwatch dial the Arabic 6 or is it the roman numeral Vi. Put yourself in the same position as in 1 above where there is a prize cash of I million naira at stake and answer the question (No spying please). Ok, having decided on your answer, now look at your wrist watch and see if you were right or wrong. Did you answer correctly? Well, whether you were right or wrong, you did have to look at your wristwatch.

Ok, without looking at your wristwatch again, tell me the time? (I caught you napping, right?) , you can't tell the exact time and you just looked at your wristwatch a second ago. 

You must have a keen observation to be able to improve your memory. We cannot possibly remember anything we do not observe. After something has been observed either by sighting or hearing, in order to be remembered, it should be associated with something in our minds we already know or remember. Association really helps for a good memory.

(b)  Interest in Memory:

Another aspect of improving your memory is interest. The crux of this point is- Do you have interest in what you want to commit to memory? Is your interest being misdirected and you just grope? Here is a question for you to test your interest memory.

You are driving a bus containing 50 people, the bus makes one stop and ten people get off while three people get on. At another stop, seven people get off the bus while two get on. There are three more stops at which five people get off at each time while each get on at two stops. At this point, because of mechanical fault, the bus could not go further and six passengers in a hurry decided to walk, while the others waited. Now without re-reading the paragraph, try and answer these questions- well, You know if I asked you how many persons are left in the bus or how many people got off at the last bus stop, you'd probably have the answers at your finger tip. But the question is - how many stops did the bus make altogether? I may be wrong but I don't think you have the answer to my question! See! You flop again. The reason you didn't commit to memory the number of stops made by the bus was because you felt that the question would be about the number of passengers and your interest was geared towards knowing the number but you were asked to read the paragraph and not to develop questions for me. But for the minority who got the answer right, because they were interested in the whole story, here is another test for you (I want to puncture your pride a little again) because I doubt if you'd get it right (please prove me wrong). A friend of mine, Adams by name in the University of Benin in his first year got admission overseas to study medicine. On the night of his departure was 24th December and he arrived his destination on the 26th of December. Now without re-reading the paragraph i.e. (if there is need at all), my question is - what is the name of the Bus driver? See! I doubt if you answered correctly or rather, you are still confused. Well, this is more of a trick; questions on observation than on memory test. Well, do you remember the bus story I told you about? Don't re-read please. Answer the question. What is the bus driver's name? - You, it is your name; remember, you were the one driving the bus. Ok, re-read the paragraph again. The trick used here is that of mis-direction and you fell for it because your interest was not keen enough on the stories you have read so far in this article.

The problem is not with our memories but with lack of interest in memory. Many ladies would complain that they can't remember a thing, yet they can remember the details of what a lady Friend was wearing when they met a few weeks ago. The same lady would recall the Colour of lip stick, mascara and the type of bracelet. Why? Because their interest lies there.  Also, a guy who complains of retentive memory can remember vividly the names of the Clubs that won the premier league cup in the premiership football league 5 years ago and the players who scored and the skills used in scoring. The same guy will remember vividly and describe the geography of a girl he met once at a night party. You see! A night party for that matter when people could hardly see at night. (I guess he is a nocturnal specie).

The issue here is interest in your memory. Developing this interest is very vital in the art of improving your memory, force yourself to remember, associate abstract things/new things to things you already know. Ok, remember this nursery rhyme- thirty days has September, April, June and November... How often have you used it to recall the numbers of days in a particular month. That is association to a rhyme, also recall Mr. Niger D in our elementary science? The truth is that before you forget something you must first get it, so learning how to remember matters a lot. Most of us just write down things without committing it to memory. You can lose your notebook or jotter but not your mind. Anyway, if you lose your mind, it is more of a psychological problem and not that of improving your memory and you would need to see a medical personnel. Take a chance now, and commit all things keenly to memory. God bless your brain.

 

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BIRTH

George Joseph Stigler was born in Seattle, Washington D.C on January 17, 1911. A US Economist, Joseph Stigler is one of history’s most outstanding modern economists.

EDUCATION

Stigler graduated from the University of Washington in 1931 with a B.A and then spent a year at Northwestern University from which he obtained his M.B.A in 1932. It was during his studies at the Northwestern University that Stigler developed an interest in economics and decided on an academic career. Due to a tuition scholarship that he received from the University of Chicago, Stigler enrolled at the university in 1933 to study Economics and went on to earn his Ph.D. in Economics from the University of Chicago in 1938. Stigler was one of four Students that ever managed to complete their Ph.D dissertation under Frank Knight in his 28 years at Chicago.

SPECIALIZATION

Stigler confined a large part of his study to microeconomics once stating, “I know very little macroeconomics, and I thank God for it everyday, because it changes once a year.” Within Microeconomics, his contributions were far-reaching. He also wrote extensively on the history of economic thought and also contributed to several aspects of the field of Industrial Organization. 

INFLUENCE

George Joseph Stigler was greatly influenced by his Ph.D Supervisor, Frank Knight at the University of Chicago. Other Economists who influenced him include Jacob Viner, Henry Simons and Milton Friedman, his friend and colleague at the Chicago School.

In the same vein, He influenced Jacques Dreze, Thomas Sowell, Kenneth Lyon and many of his Students throughout his career. As part of his special interest in the study of history of economic thought, He did a lot of analysis on the works of Adam Smith but opposed Lord John Maynard Keynes.

CAREER AND SERVICE

Stigler’s teaching experience began in 1936 at Iowa state College where He taught until 1938. He spent much of the World War II period at Columbia University, performing mathematical and statistical research for the Manhattan project. He then spent one year at Brown University from where he proceeded to serve on the Columbia faculty from 1947 to 1958. He later lectured at the London School of Economics (LSE).

Stigler went on to become the Charles R. Walgreen Distinguished Service Professor of American Institutions, and Director of the Walgreen Foundation, Graduate School of Business, at the University of Chicago. In 1941, Stigler became a member of the Research Staff of the National Bureau of Economic Research (NBER). He was also a member of the American Philosophical Society, the American Economic Association, the Royal Economic Society as a Fellow, and the American Statistical Association. He later became the President of the American Economic Association.

In 1971, Stigler became the Vice-Chairman of the Securities Investors protective Commission, and in 1969-70, He was a member of the Blue Ribbon Defense Panel. In 1960-61, He was Chairman of the Price Statistics Review Committee of the National Bureau of Economic Research. In 1954-55, Stigler served as a member of the Attorney General’s Committee for the Study of Anti-Trust Laws.

He was a founding member of the Mont Pelerin Society, and was President of the Society from 1976 to 1978.

PUBLICATIONS

Stigler has a number of publications to his credit. He left behind a well-known intellectual legacy as embodied in his books, his over 100 major articles, and his many book reviews and short works. However , Stigler’s most notable works and most-highly cited as reported in the “Web of Science” as at 19/7/2002include but not limited to:

The Theory of Economic regulation (1971)

The Economics of Information (1961)

De Gustibus Non Est Disputandum(1977)

A Theory of oligopoly (1964)

Information In the Labour Market (1962)

The Economics of scale (1958)

Perfect Competition, Historically Contemplated (1957)

However, what could be said to be Stigler’s magnum opus is his seminal studies of industrial structures, functioning of markets, and causes and effects of public regulation and the economics of information for which he was awarded the Nobel prize in 1982. However, as Coase (1982) would argue, Stigler’s studies of the history of economic thought is where he is seen at his best.

AWARDS/HONOURS

Stigler earned many honours and awards for his contributions in the field of Economics most notably the National Medal of Science (1987). When in 1982, Stigler was awarded the Nobel Memorial Prize in Economic Sciences, many saw it as long over due. Ronald Coase particularly described the award as something that was clearly right, in a world in which so much offends. When Stigler died in 1992, it was clear the field of Economic science had lost a Colossus and an intellectual powerhouse.  

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Prof. Isaiah Ibeh of the University of Benin, on Tuesday announced the development of a new drug that can cure HIV and AIDS.

Ibeh, who is the Dean of the School of Basic Medical Sciences of the university, told the News Agency of Nigeria (NAN) in Benin that the herbal drug had undergone ``series of successful tests''. ``We are at the threshold of making history, in the sense that we seem to have with us something that will permanently take care of what over time seems to have defied all solutions.

``We are talking about the latest discovery of an oral drug made from plants extraction in Nigeria for the possible cure of the pandemic, HIV and AIDS virus.’’

According to him, research on the project was started in 2010 and culminated in the development of ``Deconcotion X (DX)–Liquid or Bioclean 11 for the cure of HIV and AIDS''.

 ``The existing retroviral drugs are intervention drugs for the management of AIDS but our new discovery is a possible cure.

``We have tried to look at the product first; its toxicological analysis and discovered that it has a large safety margin. ``This means that if animals or human beings are exposed to it, they will not suffer any serious harm at all from the exposure.

``It also helped us to know the quantity we can conveniently give to animals and will feel secure that nothing untoward will happen.

``We have also done the bacteriological analysis on it, after which we looked at its effect on the virus and the result was quite revealing and refreshing.''

Ibeh also said that the drug had been exposed to series of medical examination both in Nigeria and in the USA. He added that the drug had performed well on patients with the HIV virus and had shown evidence of total restoration of damaged tissues.

``The result showed an increase in the body weight of the individual administered with DX. ``The body weight was statistically significant when compared with the control group.''

He said that further tests were being conducted to determine ``at what point will a patient become negative after being administered the drug?''.

``This verification is necessary because it is what is used to measure whether infection is still there or not. So we need to know the siro-convention time.

 ``But preliminary results showed that of the five latest patients orally administered with the drugs, our findings is that up to seven months , three of them were siro negative while two were sill faintly positive.’’

 Ibeh appealed for support from the Federal Government and relevant bodies to assist the university with relevant equipment to sustain the research.

source: NAN

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The story is from vanguardngr.

Banks in Lagos have cancelled the N100 charge on customers’ use of Automated Teller Machines (ATMs) withdrawal from other banks, the News Agency of Nigeria (NAN) reports.

NAN visit to some banks on Tuesday showed that the banks had since Monday complied with the new trend.

This followed the Bankers Committee’s directive that the banks should stop charging N100 with effect from Dec. 17.

Some customers in separate interviews with NAN said that they were happy with the development and expressed the hope that more positive developments would be made in the sector in 2013.

Mr Kunle Adewale, an Information Technology expert and a customer with GTB, said that the development showed that customers would no longer suffer unwarranted banks’ charges.

He said that the development had showed that banks customers would get the best service delivery without the regulators forcing the banks to charge customers unnecessarily.

Mr Afolaju Waheed, a customer with Access Bank, said that stoppage of the charges would not reduce the level of profits made by banks.

“But it will rather reduce the long queues in the banking halls,” Waheed said.

According to him, the cancellation of N100 charge will help the banks to enjoy more patronage of their ATMs facilities.

“This in return will boost the clamour for financial inclusion among the people in the informal sector,’’ he said.

Another customer with First Bank Plc, Marina, Miss Esther Oluwayinka, said that she was surprised when the ATM machine did not alert her that she would be charged N100 after she used that of another bank.

Oluwayinka said that initially she felt that it was a teller machine error when the ATM did not deduct the N100 charge from her account for using another bank.

“When the ATM did not ask me if I was aware that my account will be deducted by N100, I was not bothered, but l thought it was a machine error.

“Later, after my transaction, I discovered that I was not also charged for the withdrawal made.

“It was at this juncture that I told a friend my experience at ATM dispenser and she also confirmed that she had similar experience. The cancellation is a welcome development,” she said.

Another customer of UBA at Iganmu branch, who pleaded anonymity, said that he believe the banks would still come up with another way of taking their charges from the customers.

“In the banking sector in Nigeria nothing goes free. At the end of the month the banks will surprise the customers with another funny charge,” the customer said.

NAN recalls that the banks had on Dec. 9 agreed to start effective implementation of zero ATM charges throughout the country.

The agreement was sealed at the fourth annual Bankers’ Committee’s retreat held in Calabar.

NAN reports that Mallam Sanusi Lamido Sanusi, CBN governor and Chairman, Bankers’ Committee, had said that CBN would monitor the effective implementation of the cancellation. (NAN)

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The story is from premiumtimes

The committee says the NNPC had persistently failed to present relevant details of its financial operations to the satisfaction of the lawmakers

The Senate and House of Representatives Joint Committee on Petroleum (Downstream) has resolved to use necessary legislative measures to uncover alleged secret accounts of the Nigeria National Petroleum Corporation (NNPC)

The committee said that the NNPC management was allegedly maintaining a secret reserve from which it was drawing funds without compliance with the laws.

The Chairman of the committee, Sen. Magnus Abe, made this known during the defence of the NNPC 2013 budget proposals.

Mr. Abe said that the NNPC had persistently failed to present relevant details of its financial operations to the satisfaction of the lawmakers.

He said that the 1999 Constitution, as amended, empowered the National Assembly to inquire into NNPC accounts, adding that the provision was superior to the Petroleum Act.

He described the presentation made by the management of the corporation as “unserious, full of contradictions and one that failed to reconcile its revenue generation.

“We want to know where the reserve is located, how much money is there, the account number, the signatories to the account among other details relating to the reserve,’’ he said.

The chairman criticised the management for presenting a budget which highlighted only the details of its expenditure without a corresponding outline of its revenue profile for the year 2012.

He said that capital and operation expenditure presented by the NNPC showed that the corporation was spending more money than its income but could not account for sources of the additional funds.

Mr. Abe directed the NNPC to furnish the committee with proper documentation within two days or risk appropriate sanctions.

Earlier, the Group Coordinator (Planning and Strategy) of the NNPC, Timothy Okon, had informed the Joint Committee that 162 million barrels of crude was lifted by the corporation between January and September 2012.

He said out of the 162 million barrels, only 44 million barrels of crude was processed in the country while the balance was refined abroad and brought back to the country.

The NNPC Group Strategist also said that out of the revenue projection of N4.02 trillion for 2012, the corporation had collected N2.3 trillion as at September.

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The news is from saharareporters

The Economic and Financial Crimes Commission (EFCC) is reported to have turned its attentions to the multi-billion Asaba International Airport built by Governor Emmanuel Uduaghan, last week quizzing some Delta State government officials.

EFCC sources who confided in our reporter revealed that, “The state Tender Board chairman for the award of the contract and the Deputy Governor, Prof. Amos Utuama, Mr. Austin Ayemidejor, members of the Board and Airport Director, and other members of the Board excluding Prof Utuama because of immunity had been requested to report at the commission’s headquarters, Abuja. But, they sent a lawyer to plead with the commission to extend the time. On the new date which was on Tuesday, December, 11, 2012, Ayemidejor and other government officials reported and were all quizzed here in the commission where they were later granted bail and told to report on December, 21st with all the necessary documents concerning the award of the airport.”

Investigations by our reporter revealed that the beaming of the commission’s eyes on the most controversial Asaba International Airport might be connected to a petition said to have been written to the commission by a legal practitioner of Delta State origin who is based in Abuja.

Declining to reveal the name of the petitioner, the impeccable EFCC source the letter was entitled ““Suspicious Award of Contracts By Officials of The Delta State Government on The Asaba International Airport and Organization of South-South Summit by The Delta State Government.”

The petition, he said, raised alarm about the rather suspicious manner that certain officials of the Delta State Government awarded the contract as well as subsequent developments concerning the airport among other numerous questionable projects and numerous futile personal attempts by the petitioner to obtain information from the state Government pertaining to the said Airport.

“That the Officials of the Delta State Government have refused to give the information requested by the petitioner and had read on the newspapers sometime in May, 2012, the award of the contract of an additional sum of N7.4 Billion Naira for the evacuation of surrounding hills near the Airport and for the extension of the original runway which has been completed on the excuse that the Government of Delta State needed to extend the said runaway in order to accommodate the Presidential Airport as they were expecting the President of the Federal Republic of Nigeria as a guest at a SOUTH-SOUTH SUMMIT hosted by the Delta State Government besides the original contract sum that the Delta State Government have refused to make public.”

Confiding further, our source disclosed that “The petitioner who is a regular user of the Asaba International Airport and a regular visitor to Asaba knows for a fact that no such hills existed anywhere near the Asaba International Airport. That it was more worrisome and suspicious that the contract for this evacuation of the said hills and extension lasted for only ten days, a time too short for a job of that magnitude if such was really done. That the actual cost of the contract has continually remained a secret except to a few officials of the Delta State Government and the contractor, one ULO CONSTRUCTION COMPANY LIMITED handling the construction of the said Airport and suspects that certain officials of the Delta State Government used and are still using the construction of the said Airport to defraud the Government and good people of Delta State of huge sums of money running into several hundreds of billions of Naira using the construction of the said Airport as a guise.”

It was further learnt that the petitioner who is unhappy over the fraudulent and corrupt manner the airport is being handled by the state government, noted that the officials of the state government in the know of the contracts include but not limited to MRS ESIEVO OREZI, the Commissioner for Special Duties on Infrastructures in charge of the Ministry of the state government that oversees selected projects termed ‘Special Projects’, including the Asaba International Airport, as well as the Commissioner for Finance, the Director, Finance and Administration and the Permanent Secretary of the Ministry of Finance as well as the Management of ULO CONSTRUCTION COMPANY LIMITED and other companies that are involved in the project.

Following independent investigations, our reporter was able to establish a link with the counsel to the petitioner who simply gave his name as Mr. Bello O.W. (Esq).  He confirmed that upon the instructions of a client, a petition was written to the chairman of the EFCC over what he called fraudulent and corrupt award of contracts of the airport.

According to the counsel, “Yes, there are numerous salient issues raised in that petition and we can authoritatively tell you that the commission has already swung into action. Government officials have been quizzed and award of contract documents have also been requested for, so we are progressing. Our Client suspects too that organization of the SOUTH-SOUTH SUMMIT by the Delta State Government was also used as another guise by the Officials of the Delta State 

Government including but not limited to those named in [the petition] to defraud the Government and good people of Delta State as several Billions of Naira is claimed to have been spent by the Government of Delta State while the Government of Delta State has refused to release any information on the subject matter. So we have appealed to the commission to use its good office to investigate these curious activities of the Delta State Government to save the good people of Delta State. We also assure the commission that our Client shall be physically present whenever required by your Office.”

When contacted, it took the Airport project Director and former commissioner for Education, Mr. Austin Ayemidejor over one week to respond, but he did confirm the story, adding, "The state was actually invited based on some issues raised in the petition. The state has responded for now to all of those things and they are working on that."

When asked about the state reporting back to the commission next Friday, the 21st of December, with relevant documents concerning the project, the Director, who appeared to be in panic, stated that he was not aware of such a thing, but that he would confirm attempt to obtain that information.

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Columnist: Daniel, Uzoigwe Chimezie

Late Dim Emeka Odumegwu Ojukwu(1933-2011)

For those who do not know before now, the book “ BECAUSE  I AM  INVOLVED ” written by Dim Odumegwu Emeka Ojukwu is a political treatise that centers  on the Author’s perception of the Nigerian political situation with indepth analysis of the peculiarities of the country’s problems and offering unbeatable solutions to these problems.

Dim Odumegwu Ojukwu,the Author of the book is somebody everyone knows.Perhaps,the peak of his emergence into national limelight was the pivotal role he played in the Nigerian civil war in 1967-1970 as the chief War Lord of the defunct BIAFRA. He has generated more controversy than any other Nigerian and has become somewhat of an enigma, so to say. He has been mis-interpreted and most often mis-interpreted. Yet the book is not dedicated to the War Lord himself, it was written for the advancement of the Nigerian polity.

The book was first published in 1989 by the SPECTRUM BOOKS LIMITED in association with SAFARI (Export) Limited with European and USA Distributors. It was first reprinted in July, 1989 and its last print was in 2005. The book has four parts, and each part contains chapters with topics headings.

Though published as far back as 1989, the content of the book is as valid today as it was in 1989, perhaps, even more so today. The book is not to be taken as “ Ojukwu’s new song’, the cliché, usually given to the Author’s public utterances by social commentators, as it addresses issues that define the nationhood of this nation.

There is the strong belief in the vision of a peaceful and united Nigeria that runs through the book. The Author asserts that unity must be redefined in Nigeria for the country to make progress. To him, unity, in a political unit, is a state of affairs where the entire polity is completely reconciled with itself. Unity provides the only foundation on which Nigeria is development can stand.

He asserts that “until we are prepared to modify, and sometimes to abandon, our primordial attachments in favour of a new Nigerian relationship, we cannot unite”. In the Author’s candid opinion, for Nigeria to unite, we must abandon “our fear of unity”. He presents unity as very indispensable in our quest for national rebirth, as without unity of purpose, Nigeria can neither achieve her manifest, destiny nor, can she function with the requisite efficiency

He bemoans the fact that Nigeria is infested with a long list of dichotomy, majority/minority dichotomy, Muslim / Christian dichotomy and so on. As a nation, we have not made serious attempts to seek a cure for these dichotomies (which has more or less become a concern in our body politic) and this is why it continues to spread with very frightful virulence.

To achieve unity, the Author advocated that we must do away with factors that promote disunity. We must be prepared to approach the issue of unity and national solidarity realistically, selfishly, fearlessly, and with a singularity of purpose. We must overcome old prejudices and entrenched interests and banish from every Nigerian, the atmosphere of insecurity. When this is done, Nigeria would be on the way to her national Eldorado.

The book also presents the Author’s views on several issues including Religion, Injustice, Military Coup, Education, Politics, the Civil War and so on. On the Civil war, Ojukwu sees the war as ‘a stage, an inevitable stage in our march to nationhood, a mile-post in our agglomerate development’. He also speaks on personalities that have played critical roles in our path to nationhood. Surprisingly, one of those he greatly saluted in the book, Lady Miss Bianca Onoh, ‘ the beautiful young girl that won the 1989 Miss Inter-continental Pageant‘ was later to become his hearthrob . The Author writes so bluntly and forth rightly that only he could have written it.  

The book makes for an interesting reading as it is imbued with copious quotes cutting across the political and philosophical axes. The language is fair enough to understand by the average reader and is filled with words that can build one’s vocabulary and enhance one’s grammatical capability.

Our politicians will find the solutions offered in this book very handy in resolving the current political imbroglio we are entangled in. The Political Analyst that reads the book will gain tremendous insights that will enable him make better analysis. The scholar that reads the book would have been many steps ahead of his colleagues. In fact, it is recommended to all Nigerians who really feel they have a stake in this nation. Though late, Ojukwu’s mind can still be read in the book.  The book ‘BECAUSE I AM INVOLVED ‘is indeed, an everlasting treatise.

Note: This book may not be found in the open-air market. But those who are interested in acquiring the book may visit any spectrum bookshop or any other standard bookshop in the neighbourhood or e-mail: (admin/@ spectrumbooksonline.com).

                                                                                

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See it also at the sun

The Federal Government says it has concluded plans to ban importation of packaged sugar into the country with effect from next year. The minister of Trade and Investment, Mr. Olusegun Aganga, disclosed this in Abuja yesterday at the second Annual Seminar for Trade and Investment Correspondents and Business Editors.

The ban which takes effect from January 2013, is an outcome of the government’s policy framework as contained in the National Sugar Master plan aimed at assisting the country in attaining self sufficiency in sugar production. At the moment, he said Nigeria imports a large proportion of its sugar needs, which is mainly brown sugar, lamenting that the few number of sugar refineries in the country remained a major challenge to meeting the sugar needs of the country.

On efforts to reposition the industrial sector, the minister said the recently launched Industrial Revolution Master Plan, will strategically position and empower the nation’s manufacturing sector as the key driver of economic growth through job creation and increased contribution to Gross Domestic Product (GDP). Aganga said that as part of the industrial revolution agenda, the Ministry of Trade and Investment had started brainstorming with members of the Organized Private Sector (OPS) and the Ministry of Power to reduce the cost of doing business in Nigeria and ultimately increase the productivity of the manufacturing sector.

He said that the nation’s Industrial Revolution Plan would be based on areas  where the country had comparative and competitive advantage, adding that the government had embarked on far-reaching reforms aimed improving the business climate and making Nigeria the preferred investment hub in Africa and globally. He said: “Africa’s share of the global trade is only three per cent.

This is because Africa has been exporting raw materials rather that exporting finished products. For us as a country, manufacturing is very important because it solves three critical problems: it solves the problem of GDP growth, unemployment and balance of payment.

Also, manufacturing is critical for wealth creation. “If we are going to move from a poor nation to a rich country, industrialization holds the key because it has the potential for unlocking the wealth of our country. This is why we are kicking off an Industrial Revolution Plan for our country.”

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The news is from the sun.

The Statistician-General of the Federation, Yemi Kale, yesterday disclosed that Nigeria’s inflation rate rose to 12.3 per cent in November, as against 11.7 per cent recorded in October. Kale, who disclosed this in a statement in Abuja, said the 0.6 percent monthly change in the composite Consumer Price Index (CPI) was the result of higher prices in both the food and core indices.

According to him: “The rise in the Food Index was as a result of higher food prices in various classes within the index lead by bread and cereals due to higher rice prices.

Also within this class, garri processing slowed, resulting in its higher prices.” Kale hinted that there were also increased prices in vegetables due to the dry season, higher potato, yams and other tubers, and higher fish prices.

Said he: “The higher food prices continue to reflect the impact of recent floods on the production of farm produce. This is resulting to difficulty of moving food products to markets across the country, coupled with other processing and seasonal costs.” He hinted that the average annual rate of rise of the index for the twelve-month period ending in November 2012 was 11.4 per cent when compared to the same period in 2011. He added: “The core sub-index has deviated from its trend over the previous months, increasing to 13.1 per cent. Food prices continue to indicate lagged effects of the floods which occurred from July to mid-October, as well as other demand and supply conditions.”

Speaking on urban inflation, he said that the urban inflation rate was recorded at 15.8 per cent in November, an increase of 0.5 percentage points from the 15.3 per cent increase recorded in October. Adding that the rural index rose to 9.8 per cent in November, as against 9.1 per cent recorded in October. He noted: “On a month on month basis, the Urban All index increased by 0.6 per cent from October, while the Rural All Items index increased by 0.63 when compared with the previous month.

The percentage change in the average composite CPI for the 12-month period ending in November over the average of the CPI for the previous twelve-month period was recorded at 12.1 per cent.” He noted that the corresponding 12-month year on year average percentage change for the Urban and Rural indices was 14.2 per cent and 10.5 per cent respectively.

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What you see above is not stainless steel, it is white gold.

The 18K white gold used in this car Owned by Abu Dhabi, an oil billionaire , This stunning car features the newly developed V10 quad turbo with 1,600 horsepower and 2800nm of torque 0-100km/h in less than 2secs, 1/4 mile in 6.89 secs running on biofuel.

What do You make of this?

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The story is from an interview conducted by Premiumtimes

The CPC spokesman, Mr. Fashakin, said Messrs. Obasanjo and Jega contributed to the crisis in Ghanaian elections.

The spokesperson of one of Nigeria’s largest opposition parties, Rotimi Fashakin, has accused former President Olusegun Obasanjo, and Chairman of the Independent National Electoral Commission, INEC of corrupting the Ghanaian electoral process.

The National Publicity Secretary of the Congress for Progressive Change, CPC, Rotimi Fashakin, said the two men are the cause of the protests that followed the recently held presidential election in Ghana.

In the first part of an exclusive interview with PREMIUM TIMES, Mr. Fashakin said “The opposition (in Ghana) should complain because people that came from Nigeria went to corrupt their system.”

“Of course when Jega went there, they knew that election manipulation and rigging has come. When Obasanjo went there, they knew that the generalissimo of do or die politics has come, they knew that their election may be fraught with dangers.

“So they should now know better the kind of people they invite to monitor their elections,” the opposition spokesman said.

Mr. Fashakin also spoke about corruption in Nigeria and the on-going merger talks by opposition political parties and how the ruling Peoples Democratic Party “hired IT Consultants” and disguised them as Youth Corps members to rig elections.

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In an article published by the Financial Times, Ibadan is listed as one of the “next 5” cities in Africa. According to the article, the city possesses a “rapidly growing economy but serious business climate deficiencies – that offer some of the biggest potential rewards – provided multinationals can stomach the risks.”

Other African cities on the come up include Addis Ababa in Ethiopia, Dar es Salaam in Tanzania, Kinshasa in Congo and Mombasa in Kenya.

Some of the world’s largest companies have already made inroads into these economies. Diaego, one of the world’s largest brewing companies, paid $225m for Ethiopia’s state-owned brewer Meta Abo last year, to tap into Addis Ababa’s growing consumer market. What’s more, the African Union is headquartered in the city, making it the political capital of Africa, Frontier says. That’s a bit of a stretch, but the business buzz in Addis is undeniable.

Fellow beer group Heineken is spending $325m in Kinshasa, Congo’s capital. Frontier says: “while poverty and an underdeveloped infrastructure reduce market size in Kinshasa, staggering population growth and consistently high economic growth means the city of 10 million cannot remain ignored by many MNCs.”

Dar es Salaam, Tanzania’s largest city, arguably offers the best investment prospects of all. Taking into account its size, short-term stability and growth, Frontier ranks it as the third best risk-weighted business opportunity in all of Africa by 2015.

An emerging trade hub in east Africa, it is increasingly handling more cargo than Mombasa, the region’s other sea trade centre. And Japanese carmaker Honda Motor has recently shown an interest, teaming up with a Tanzanian company and preparing to build an assembly plant to expand sales in the city.

There are risks to expanding in all of these markets, of course – Frontier highlights the usual concerns about infrastructure, corruption, and regulation. But Africa is the fastest growing and most rapidly urbanising region in the world. The risks of staying out could be greater still.

The article also forecasts that the economy of Lagos, which is listed as one of the “Big 5”, will by 2015, outweigh that of it’s nearest competitor, Johannesburg, which has the biggest economy in Africa. Johannesburg has a nominal GDP output of $51billion, while Lagos has a GDP of $40billion but that of Lagos is predicted to jump when Nigeria rebases its economic statistics next year.

The Big 5′ - cities are said to be broadly politically and economically-stable, and already major FDI destinations. They are: Accra, Ghana; Johannesburg, South Africa; Lagos, Nigeria; Luanda, Angola; and Nairobi, Kenya.

It would seem fate has quite the sense of humour, with this article declaring Lagos as “economically-stable” just as the state has been declared insolvent by the Revenue Commision.

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