The story is from premiumtimes

The Central Bank of Nigeria, CBN, on Monday urged the Federal Government to fast-track the passage of the Petroleum Industry Bill.

The CBN said this will serve as a strategic fiscal measure of boosting revenues and protecting the economy from the potentially dangerous implications of recent negative developments in the global economic environment.

The demand was part of the resolutions by the retained the bank’s Monetary Policy Committee, MPC, which met in Abuja.

At the end of the meeting, members resolved to retain the Monetary Policy Rate, MPR, which is the lending rate in the country’s banks, at 12 per cent, with a corridor of +/- 200 basis points around the mid-point.

The Committee also retained the Cash Reserve Ratio, CRR, at 12 per cent and the Liquidity Ratio at 30 per cent.

The CBN Governor, Lamido Sanusi, underlined the importance of the PIB to the growth of the country’s economy, pointing out that the law remained pivotal to increasing the revenue generation potentials of government.

He said the strategic importance of the sector to Nigeria’s economy, particularly recent decreasing contributions of the sector to the country’s gross domestic product, GDP, demands that all stakeholders must take steps to get the proposed law passed without delay.

Sanusi, who spoke extensively on the various economic and fiscal challenges in the Euro zone, the United States and Asian countries, said the implications for primary produce exporting countries, including Nigeria, was huge.

According the CBN boss, Nigeria’s macro-economic stability may continue to be threatened, particularly in view of the growing uncertainty in the global economy and the dwindling contributions of the oil sector to real GDP growth.

While commending the Federal Government for its determination to bridge the budget deficits and promote prudence in public finance, pointing out that in spite of the positive accretion of the foreign reserves, which peaked at $43.849 billion as at the end of last year, the economic climate still demands serious caution in fiscal and monetary measures to avert any likely macro-economic instability in the economy.

“In spite of the slow progress made in the resolution of the Euro zone crises, the prospect of recession has yet not been completely averted in the near term,” Mr. Sanusi said. “Developments in the domestic economy in the past three months highlighted some new pressure points to macroeconomic stability.”

The Committee, he said, expressed the view that shocks to the economy could come from significant fall in the demand for crude oil at the international market, leading to a fall in oil prices and government revenues, weaker exchange rate, rising inflationary pressures and depletion in external reserves.

The Committee also noted the drop in headline inflation in December 2012, although it also recognised that core inflation had risen, driven mainly by cost-push factors even in the face of sluggish growth in the monetary aggregates.

On the 2013 budget, the Committee cautioned against complacency over government revenues, despite the high level of oil prices at the moment, pointing out that the uncertainty in global demand and supply of crude oil, and weak performance of non-oil and VAT revenues must be augmented by earning from other sources.

He said the passage of the PIB would help attract fresh foreign investments into the sector with the attendant implications for its improved contributions to the GDP and other positive multiplier effects on the broad sectors of the economy.

On the MPR, the CBN Governor said the Committee opted to retain the rate at 12 per cent in view of the medium and long term effects on the economy. These include the need for prudence to hold and monitor developments between the current meeting and the next with a view to knowing whether an adjustment of the rate would be necessary in government’s efforts to ensure macro-economic stability in the country.

Read more...

The story is from the Vanguard .
The Super Eagles continued their build up for the 2013 Africa Cup of Nations with a well-deserved 1-0 win over Dutch  club, FC Rotterdam on Saturday. Coming a few days after an unconvincing 0-0 draw against Nations Cup debutantes, Cape Verde, the victory has already raised hope in some quarters.
First Vice President of the Nigeria Football Federation, Chief Mike Umeh said, “the victory is a morale booster for the team. It shows that the Eagles are consistent. Unlike their Zambian counterparts, the Eagles are yet to lose a match in their friendlies, so far. I just pray they can carry on to the Nations Cup.”
Asked about his expectations from Coach Stephen Keshi and his wards, Umeh who spoke with our correspondent Sunday said that the technical crew have been given all the support to achieve success. “Preparations have been excellent, they have been given a free hand and there has been no interference from any quarters; we expect he(Keshi) delivers,” Umeh said.

Continuing, the NFF chieftain added, “There is a common parlance that says, ‘to whom much is given  much is expected.’ My dream, and surely, I’m speaking the minds of my colleagues on the board, is to see Keshi and the Eagles bring home the trophy. It would not be enough to say I want to see them in the semi final or final. There is no other way of measuring had work than success. That means it’s the trophy or nothing.”

Read more...

The story is from Vanguard.
After many hours of interrogation by its operatives, the Economic and Financial Crimes Commission, EFCC, admitted the former Central Bank Governor, Prof Charles Soludo, to administrative bail  Thursday night.

But the former Peoples Democratic Party governorship candidate in Anambra State was asked to report back to the anti-graft agency on yesterday morning for further questioning. It was not clear if the renowned economist honoured the invitation after being asked to go home.

Also, the Imo State Finance Commissioner, Deacon Okafor John and Accountant General, Haeche-George, who were arrested over alleged N45 billion loan from Zenith Bank and diversion of local government funds were granted bail.

A source in EFCC confirmed the granting of administrative bail to the former CBN boss on certain conditions, which he did not elaborate.

One of the conditions for granting him temporary freedom was that he should surrender his diplomatic and international passports to the EFCC and to produce two sureties who should not be below the rank of permanent secretaries or directors in the Federal public service.

The source said, “Yes, it is true Soludo was released on bail around 9pm on Thursday but was asked to report back on Friday morning.

“We will continue to invite him for interrogation as the need arises since it is an ongoing investigation,” the official said.

Asked to explain the whereabouts of the other officials of the CBN and NMPCN, who were arrested along with Soludo, the source said that the other suspects were arrested and interrogated at different times, adding that they had made useful statements to the commission.

The source said he could not say what were taken away from the former CBN executive but that certain conditions were attached to his administrative bail.

Soludo was picked up from his Abuja residence on Thursday by operatives of the EFCC over his alleged involvement in the printing of polymer banknotes contract scam amounting to N750 million.

But Saturday Vanguard gathered authoritatively that Soludo’s arrest followed a strong petition by a group known as Human and Environmental Development Agenda (HEDA) in May 2012, calling on the Commission to investigate the controversial contract awarded by the former CBN boss for the printing of polymer banknotes.

HEDA had alleged wrongdoing by Soludo and other Nigerian officials in the purported banknote printing and alerted the security agencies to arrest and prosecute all those involved in the multi-million Naira scam.

The petition had drawn  the attention of the anti-corruption agencies to the fact that the firm that reportedly got the job from Soludo admitted paying some N750 million in bribes to some officials of the CBN between 2006 and 2008 in order to secure the contract to make polymer notes for Nigeria, channeling the bribes through two British businessmen.

Soludo, a former President and some finance ministry officials were mentioned by the group as the beneficiaries of the graft.

I was not arrested by EFCC— Soludo
Former Governor of the Central Bank (CBN) Professor Chukwuma Soludo  has disclosed that he  was not arrested by the Economic and

Financial Crimes Commission (EFCC) as was published in some national dailies yesterday.

Soludo said he was invited by the EFCC to make clarifications on some issues on a matter under investigation.

According to a statement from Soludo’s media office dated 11th January 2013, the former CBN Governor voluntarily went to the EFCC office to honour the Commission’s invitation.

The statement which was signed by Bonaventure Melah said Soludo was neither arrested nor escorted to EFCC office by operatives of the Commission as was reported.

“We want to put it on records clearly that the media reports that Professor Chukwuma Soludo was arrested by the operatives of the EFCC in Abuja is totally false or to say the lease written in error.

“The fact of the matter is that the EFCC wrote a letter to Prof. Soludo inviting him to their Abuja office on the 10th of January 2013. EFCC’s invitation letter to Prof. Soludo was dated 20th December 2012.

“Prof. Soludo was abroad attending to several international engagements when the letter was sent to his aides. As a law abiding citizen of the country, Prof. Soludo returned to Nigeria in the New Year and honoured EFCC invitation on January 10th as requested. He voluntarily went from his home to EFCC office on Thursday. He was neither arrested nor escorted by any operative of the Commission.

The EFCC letter of invitation to Soludo states that “This Commission is investigating a case in which the need to obtain certain clarifications from you has become imperative.”

“It was a two- paragraph letter with also indicated date and time for the meeting between Prof. Soludo and officials of the Commission,’ the statement added.

Read more...

The news is from Sunnewsonline

A pro-democracy association known as ‘Save Enugu Group’ has given the acting governor of Enugu State, Mr. Sunday Onyebuchi two weeks to make a categorical explanation on the whereabouts and status of Governor Sullivan Chime. The group, which has former commissioners and top politicians from the state as members also requested the deputy governor to constitute a delegation, which should include eminent personalities from the state to pay a visit to the governor and report back to the people of Enugu State.

The group suggested personalities like, Bishop Callistus Onaga, Catholic Bishop of Enugu, Revd Hyde Onuaguluchi, Prof Bath Nnaji, Igwe Paul Egbogu, Chief Mrs Grace Obayi, Chief Nduka Eya, Secretary General Ohanaeze Ndi-Igbo and Dr Louis Anya Chukwuma to be part of the delegation. The letter, which was also copied the Speaker of the State Assembly was signed by former commissioners, Mr Ray Nnaji and Igbonekwu Ogazimorah, former presidential aspirant of the NSP, Chief Maxi Okwu, National Secretary-General of the CNPP, Willy Ezeugwu, Ibuchukwu Ezike and Victor Eneh.

The letter read: “Today makes it 110 days since our great governor was last seen in public. It is in the public domain that Governor Chime was last sighted in public on September 19, 2012. Since then, sightings and near sightings of him have been reported, which all turned out to be a hoax. “This has created a thriving mill of idle gossips, who speculate on his whereabouts and state of health. Matters got to a head December 15, 2012, when the national media was rent with the news of the death of our governor.

“On some occasions, the Commissioner of Information, Mr. Chuks Ugwoke had come out with an official statement that His Excellency was quietly enjoying his holiday and accumulated leave or that he would be in office shortly. These conflicting accounts merely served to exacerbate rather than ameliorate the situation. “We are also told that at the time of his disappearance from public view, His Excellency, as required by section 190 of the Constitution of the Federal Republic of Nigeria 1999 (as amended), duly handed over to the deputy governor.

“We must bring to your notice that the public is awash with accounts of the inability of the acting governor to discharge his mandate under the Constitution, as a cabal of unelected officers have rendered his authority otiose. We, therefore, most humbly submit that this is a most untidy state of affairs. “At this juncture, we make bold to ask: Can the governor hand over and create an acting administration in perpetuity? What is the duration of annual leave for the Governor? How many days make up this ‘accumulated annual leave’? Could the Constitution and government holiday regulations have given His Excellency a carte blanch to take a break for over 100 days? We do not think so.

The question, which we would be most obliged if it is answered is: Where is His Excellency our governor? “We are in no doubt that comparatively speaking he has done well or that government is going on ‘peacefully’ or ‘smoothly’ as his supporters would chime; but the fact of unreasonable absence from office, is suggestive of permanent inability to discharge the functions of his office. In the alternative we would argue that his disappearance for this extended period amounts to grave misconduct.” But in a swift reaction, the Enugu State Government dismissed the letter as a non-issue.

A statement signed by Chukwudi Achife, the Chief Press Secretary to Governor Chime said that “though government did not intend to join issues with those he described as habitual attention-seekers, it was obvious that having realized that their media attacks had not achieved their intended results, they have now chosen to issue baseless statements as a group. “Government does not intend to join issues with these habitual attention-seekers. This is, at best, the coming together of men whose views on the incumbent government are well-known and always predictable.

It is obvious that having realized, perhaps most painfully, that their media attacks had not achieved their pre-determined goal, they have now chosen to issue a statement as a group. “However, it is even more laughable that in dabbling into issues beyond their purview, they first mischievously leaked to the press a letter meant for His Excellency, the Acting Governor of Enugu State, Sunday Onyebuchi.

“We urge our people to ignore the hollow argument and baseless call by the group, which merely expose the narrow mindedness of the pay-masters because the people of Enugu State know the real men behind the mask.”

Read more...

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.

Read more...

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.

Read more...

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.

Read more...

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.

Read more...

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.”

Read more...

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.

Read more...

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.

Read more...

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.

 

Read more...

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.  

Read more...

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

Read more...