Obama Hails Nigerian Disability-Rights Activist, Embraces Her

Nigerian female disability-rights activist, Grace Alache Jerry, is an inspiration to many. She has proved that no matter what position you find yourself in life, you can make positive impact in the world.

U.S. President Barack Obama embraces Grace during the Young African Leaders Initiative (YALI) summit at the Omni Shoreham Hotel August 3, 2015 in Washington, DC. Identified as Sub-Saharan Africa’s ‘most promising young leaders,’ 500 people were invited by the U.S. State Department for the three-day summit where they interact with representatives from the public, private, and non-profit sectors.

Buhari Appoints Dr. Ibe Kachikwu as New GMD of NNPC

President Muhammadu Buhari has appointed Dr. Emmanuel Ibe Kachikwu as the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC).

Dr. Kachikwu, who was the Executive Vice Chairman and General Counsel of Exxon-Mobil (Africa), is to take over from Dr. Joseph Thlama Dawha. He hails from Onicha-Ugbo in Delta State.

Dr. Kachikwu is a First Class Graduate of Law from the University of Nigeria, Nsukka and the Nigerian Law School. Has a Masters and Doctorate Degrees in Law from the Harvard Law School.

He started his working career with

Nigerian/American Merchant Bank before moving on to Texaco Nigeria Limited where he remained for about eight years before joining ExxonMobil.

President Buhari has also approved the appointment of Professor Umaru Garba Danbatta as the new Executive Vice Chairman and Chief Executive of the Nigerian Communications Commission (NCC).

Prof. Danbatta, who holds a Doctorate Degree in Electronic Engineering, takes over from Dr. Eugene Juwah whose tenure expired on July 29, 2015.

His appointment as Executive Vice Chairman of the NCC is for five years in the first instance.

FULL DETAILS: See The Big Men Owing Banks N143.81billion

A financial expert told OluFamous.Com that most of these people are not really to blame but high interest rates charged by the banks, plus the facts that the Federal Government too is owing most of them.

Nigerian Deposit Money Banks has continued with the policy of revealing delinquent debtors with publication of names of firms and directors whose loans have become non-performing for over one year.

While nine banks published the names of the loans defaulters on Monday, four banks released the lists of their chronic debtors, owing a total of N143.81bn, on Tuesday.

The four banks are First Bank, Access Bank, Diamond Bank and Unity Bank.

The banks, which had published the list of their delinquent debtors on Monday were Zenith Bank Plc, Guaranty Trust Bank Plc, Union Bank Plc, Sterling Bank Plc, Skye Bank Plc, Fidelity Bank Plc, Stanbic IBTC Bank, Heritage Bank Limited and Enterprise Bank Limited.

First Bank, which has its total amount of non-performing loans as N43.72bn, published 92 names of delinquent debtors.

The first five companies on the lender’s list owe a combined sum of N23bn. These are Ajaokuta Steel Company Limited, Starcomm Plc; BGL Securities Limited, where a former Minister of Finance and National Planning, Kalu Idika Kalu, is a director; Shield Petroleum Limited and Fargo Petroleum and Gas Limited.

Shield Petroleum, the number one on the list, owes N6.883bn; while Zurich International Service, the last on the list, owes N26.69m.

Unity Bank also released 260 names of delinquent debtors with a combined NPL figure of N45.52bn.

The list has the companies of some prominent Nigerians. These include Umar Mutallab’s DeanShanger Project Limited, N3.6bn; Senator Ayodele Arise and a former Minister of State for Works, Mr. Dayo Adeyeye’s International Payment Devices Limited, N81.9m; and Prince Adeyanju Olateru-Olagbegi’s Cupid Investment BDC, N90.1m.

According to PUNCH, other prominent companies on the list are Ekiti Kete Mass Transit, which owes N991m; Fargo Petroleum and Gas Limited, N2.5bn; Ava Cement Limited, N.8bn; and Plywood Chemical and Accessories, N1.1bn.

Ava Cement topped Unity Bank’s debtors’ list with N9.8bn, while Malcolm Akpokodje owes the least with N20m.

Access Bank Plc published a list of 11 delinquent debtors, with a combined NPL figure of approximately N3.4bn.

Top on the list are Bioka Ventures Limited, which owes N1.15bn, while Derukas International Limited was last on the list with a debt of N56.3m.

Diamond Bank Plc has N47.17bn as its total NPLs, with companies belonging to prominent Nigerians owing sizeable amounts.

These include Sir Emeka Offor’s Global ScanSystem Limited, which the bank says owes N181m; a former Chairman, House of Representatives Committee on the Diaspora, Mrs. Abike Dabiri-Erewa’s Thriller Eneavours, which owes N122m; and a former Delta State Commissioner for Sports Solomon Ogba’s Delta Mega Trend Limited, which owes N89m.

Aside the 13 banks which have published their debtor lists, other banks which will publish theirs this week are Ecobank Nigeria, First City Monument Bank Limited, Standard Chartered Bank, Keystone Bank Limited, United Bank for Africa Plc and Wema Bank Plc.

Investigations by our correspondents on Monday revealed that most of the banks had cut their list of delinquent debtors due to litigation with their customers over disputes arising from loan terms and last-minute renegotiations by some clients.

A top bank executive, who spoke to one of our correspondents under the condition of anonymity, said, “Some of the banks have to remove the list of some clients due to issues that border on litigation.

“Some names were removed at the last minute after the affected customers came to renegotiate with us. Some banks have had to cut the names on their debtors’ list by at least 50 per cent.”

Officials of banks, who spoke to our correspondents, linked the relatively high figure of the NPLs in some banks to inside connivance with customers, lingering margin loans and huge oil and gas-related loans.

According to them, customer relationship managers in some of the banks connived with the customers to obtain huge loans that eventually became bad.

They also said that long-standing margin loans in some banks were responsible for the high figure.

“A huge chunk of the loans are oil and gas related. The drop in oil prices has also worsened the situation for some oil and gas companies. They borrowed relatively large amounts of money, which later became bad loans,” an official of a tier-1 bank told our correspondent.

Meanwhile, the Asset Management Corporation of Nigeria will publish the list of its debtors early next week if they fail to regularise the terms of their loans with the agency.

The spokesperson for AMCON, Mr. Kayode Lambo, who confirmed this on Monday, said companies which failed to regularise the terms of their loans with the agency would have their names published.

“As many companies who have not been servicing their loans will have their names published,” he added.

The names of firms belonging to prominent Nigerians who have not been servicing their loans may appear on the list.

In 2009, the Federal Government spent about N5tn to buy the NPLs from banks to save them from imminent collapse.

AMCON, the government agency created after the 2009 banking crisis, was the special purpose vehicle used to acquire the NPLs from the banking sector.

The Central Bank of Nigeria had on April 22, 2015 directed the banks, discount houses and AMCON to publish the list of delinquent debtors from August 1.

They are to publish the names in at least three national newspapers on a quarterly basis.

In line with the directive, the banks gave the chronic debtors a three-month grace period, which expired on July 31.

The Director, Banking Supervision, CBN, Mrs. ‘Tokunbo Martins, had in a circular dated April 22, 2015, said, “In order to ensure that the industry NPL ratio does not exceed the prudential limit of five per cent and to improve the credit culture in the banking industry, banks and discount houses are directed to observe prudent credit underwriting and monitoring standards.”

The debtors are those whose accounts have been classified as lost and include persons, entities, directors, subsidiaries and other related parties, according to the central bank.

The central bank had stated that delinquent debtors in the category described above would be blacklisted and “banned from participating in the Nigerian foreign exchange market and in the Nigerian government securities market.”

Already, Abike Dabiri has reacted, saying she is not owing anyone. I guess other reactions will follow.

Jimoh Ibrahim wants to kill me for exposing how he stole N35b

Following President Muhammadu Buhari war on corruption and my various publications in sahara reporters and a few national newspapers, of which a copy is hereby attached, Bar. Jimoh Ibrahim paid some hired assassins to eliminate me.

I am being monitored by four men with two power bike after a meeting was held in Bar. Jimoh Ibrahim hotel, where it was agreed that if they could not get me kidnapped on or before the 4th of Aug, my house will be attacked on 5th Aug, 2015.

Having paid the assassins, Barrister Ibrahim, out of fear that he might be arrested, left Nigeria few days ago to London and has enrolled as a student in Oxford University, for a part time course as a cover up.

The reason for assassinating is as follows:
That John Nnorom exposed the N35.5Billion Aviation Intervention fund fraud, which was diverted by Bar Jimoh Ibrahim into his personal account and the Nigeria Senate resolution dated 29th Nov, 2012 signed by Senator Hope Uzodinma, asking the then Governor of Central Bank of Nigeria, Sanusi Lamido Sanusi, current Emir of Kano, to recover the money. There is a big panic in Jimoh house, that President Buhari, who has refused to grant Bar Jimoh Ibrahim audience despite four attempts made by Bar Jimoh Ibrahim will prosecute him in the next few months.

That John Nnorom exposed the N10Billion paid to Nicon Insurance Plc by the Accountant General of Nigeria, for payment of pensioners but Bar Jimoh Ibrahim diverted the money into the acquisition of his private challenger jet with Reg No : NG 605 GF. The pensioners are dying. This case has been established, as EFCC has traced the fund movement from the money paid by the accountant general into the seller of the aircraft account based on my petition. We have even contacted the lawyer that processes the purchase of the Aircraft in USA as part of the witness. The challenger is currently parked in SAO TOME.

That John Nnorom will take all risk to testify against Bar Jimoh Ibrahim during trial and therefore, it is better to assassinate him now.

I therefore call on all patriotic Nigerians, including the Inspector- General of Police, our President Buhari, the DG - SSS, to note that if anything happen to me, Bar Jimoh Ibrahim should be prosecuted.

JOHN I NNOROM (FCA, ACTI, MBA) 
17 KODEOSH STREET, IKEJA, LAGOS http: www.nuclearworld.com.ng
e-mail: john .nnorom@gmail.com TEL: 08033064519; 07068021111

BAR JIMOH IBRAHIM: THE FACE OF CORRUPTION IN NIGERIA

On the 23rd of June, 2015, Our President, vowed to recover within three months all the money looted from our treasury. For making such a vow, history and posterity will remember President Buhari. I recalled during the first week of June, 2015, I dreamt a dream, where some of my friends, who died fighting corruption, were celebrating in a cloud of rainbow. I woke up, wondering, why this celebration in the heavenly realm. Three weeks later, President Buhari vowed to recover our stolen wealth, my joy is unlimited.

Dear President Buhari, I promised to fight corruption with the last breath in my life in 2012 and would like to mention that, Bar Jimoh Ibrahim represents corruption institutionzed at the highest level in Nigeria. The sale of the following Federal Government investments, which Jimoh  was a front, namely Air Nigeria Development Ltd, Nicon Insurance Plc, Nigeria Re-insurance Corporation were all fraudulent sales.  Jimoh  has been on asset stripping of these institutions, into Nicon Investment Ltd, a company blacklisted by Central Bank of Nigeria during the era of Mallam Sanusi Lamido Sanusi, now the Emir of Kano.

Mr. President, I summarized below, how these institutions, which were partly owned by Federal Government were stripped of her assets by Jimoh.  No board meeting has been held for all these massive withdrawals by Jimoh and the effort that, I made in whistleblowing his activities with little emphasis on various assassination attempts on my life.

ACQUISITION OF OUR NATIONAL CARRIER: VIRGIN NIGERIA, N35.5B DIVERTED FOR PERSONAL USE

Virgin Nigeria was in debt of $237M (N35.5Billion) repayable over a period of 5years, when  Jimoh acting as a front for highly placed Federal Government official fraudulently acquired the National Carrier without paying a kobo. The debt of N35.5B was transferred to Nicon Group Account with UBA PLC. This transfer gave the Air line, a clean account, which was highly published.  Air Nigeria immediately took the Aviation Intervention Loan of N35.5Billion from Bank of Industry through United Bank for Africa. This loan was debited back to Air Nigeria account and Nicon Group of companies account was credited. This loan was diverted into the purchase of the land, where the largest oil well in the world is deposited in SAO TOME including acres of land for the building of a university by Jimoh . Part of this loan was used in the purchase of choice properties in Dubai, USA and UK. I wrote to the then, Nigeria Senate President, David Mark, who directed my petition to the Senate Committee on Aviation, then chairman by Senator Hope Uzodinma. This committee confirmed my petition and recommended in senate resolution dated 29th Nov, 2014 that, Governor Sanusi Lamido Sanusi, now the Emir of Kano should recover this money from Jimoh . We all know, how the Emir of Kano exited from CBN and to date THIS FEDERAL GOVERNMENT INTERVENTION FUND HAS NOT BEEN RECOVERED (documents are hereby attached) 

AIR NIGERIA DEVELOPMENT LTD : N6B STOLEN BY JIMOH

The loan of N35.5B was repayable over a period of 5years to UBA PLC but Federal Government Aviation Intervention fund, which the Bank of Industry approved for Air Nigeria was repayable over a period of 15years with lower interest rate, which resulted to an excess of N6Billion yearly cash inflow into the Airline account from 2009 to 2013.  This is the amount that Jimoh diverted to Nicon Investment Ltd, a company owned by his family, despite the fact, that there are many stakeholders in the airline, which includes the employee, the shareholders, the creditors etc.  In addition to my resignation, he sacked 790 staff on the pages of newspapers and many are dead to date without any pension. Our suit No ; NICN/LA/481/2012 still pending in court. Despite all, Jimoh, sold the Airline for N3Billion and pocketed the money. (Schedule of withdrawal is hereby attached)

ACQUISITION OF NICON INSURANCE PLC VALUED AT 10% OF TOTAL COST

Nicon Insurance Plc, had 20million pounds in her special Foreign account in London ,  shares in Union bank valued at  N500Million,  millions of pounds in union bank London branch,   millions of dollars in American Express Bank, which were not disclosed at the time of acquisition.  The Nicon Insurance was under-valued by 90% based on Jimoh instruction, that only the Naira valuation will be considered in the purchase. The Nicon Insurance was not in distress as at the time of acquisition by Jimoh. The naira valuation represents 10% of the total value of the company. Jimoh without following due process won the privatization bid on Nicon Insurance Plc. Like in all his acquisition, it was heavily published that Jimoh   acquired Nicon Insurance Plc. 

With fake building document deposited in bank for the acquisition, Jimoh appointed the Managing Director, Mr.Emmanuel Jegede, who signed the purchase agreement and before payment could be made to Federal Government, he travelled to London with Jegede, The EX-MD and EX-Company Secretary of NICON Insurance Plc, and clean the account of NICON in London, thereby recovering nine times the value of the company. To cover this fraud, Jimoh sacked all the NICON staff in the five story London office, located at 21 Worship Street, London, EC2A 2BH.  When the auditor representing the Federal Government 30% shareholding started shouting internally in Nigeria, on the looting of Nicon Insurance Plc, Jimoh, invited him for a meeting and on his way back to his house, he was assassinated. Having assassinated the internal auditor, the following people namely: Mr. Emmanuel Akinmolu Jegede, the MD-  Nicon Insurance Plc, pledged his 100% loyalty, Ms Prisca Soares the Ex-MD/CEO of Nicon Insurance and the Ex-company secretary ran away from Jimoh for safety reasons. Dear President Buhari, let these people be interrogated under oath on this deal, with your assurance that they will not be assassinated by Jimoh.

DYING PENSIONER MONEY USED TO BUY JET WITH REG NO: NG605GF

In the last few years, the Accountant –General of Nigeria paid over N13Billion to Nicon Insurance Plc, for the purpose of paying pensioners. As usual, the money was laundered to USA and out of this money; Jimoh bought the challenger 625 jet with Reg No: NG605GF that he is currently flying around the world, while pensioners are dying every day. I reported this case to EFCC and it was investigated. EFCC confirmed my petition that Jimoh diverted this money but refused to charge him to court saying that I am not an interested legal person. However, this money represents fraudulent withdrawal from corporate institution owned by Federal Government, of which I am a Nigerian by birth. It should be noted that Federal Government still holds 30% of Nicon Insurance Plc shares. Please, President Buhari, help us to recover this loot.

BAR JIMOH IBRAHIM TAX EVASION SUIT OF N6. 4B/FIRS IN COOLER

The Federal Inland Revenue Services after thorough investigation of my petition on the N6.4Billion owed FIRS, made several efforts to recover this money despite the  threat by the then Attorney- General  Bar Adoke.  Jimoh was arrested and charged to court. The first case was a criminal suit on tax clearance certificate forgeries in Abuja and the second suit was recovery of the debt. I followed this up with several visits to FIRS office and various publications but  Jimoh  paid back only N150Million to FIRS, the balance of this money need to be recovered, for which  Jimoh  wrote an undertaking to pay in FIRS office. In addition to the above, the criminal case in Abuja on tax certificate forgeries is now in the cooler.  Dear President Buhari, please help FIRS to recover this loot, which belongs to Federal Government. 

BAR JIMOH IBRAHIM DOES NOT PAY CORPORATE TAX ON HIS 16 COMPANIES

The following companies namely ; Global fleet oil & Gas Ltd, Nicon Insurance Plc, Nigeria  RE-insurance Corporation, Nicon Properties Ltd, Nicon Luxury Hotel Ltd Okitipupa, Abuja Nicon hotels Ltd,   Nicon hotels Ltd VGC,   Nicon hotels Ltd, PHC  and National Mirror Ltd, do not have current tax clearance certificate. All these companies do not pay corporate taxes to the Federal Inland Revenue Services in Nigeria. Even withholding taxes deducted from sales on behalf of Federal Government, are not remitted. The last signed audited account of these companies were in 2009 and I have challenged Bar Jimoh Ibrahim to published in two national newspapers the tax clearance certificate of his conglomerate since 2012. This is a criminal offence in addition to recovery. Please, help us sir.

EMPLOYEE TAX  FRAUD : EFCC REFUSED TO CHARGE JIMOH IBRAHIM TO COURT

In all the companies owned by jimoh, taxes are not remitted to the relevant tax authorities but were deducted from staff salaries. I am a victim and I petition Jimoh to EFCC, listing as witness the 790 Ex-staff of Air Nigeria sacked on the pages of newspapers. The same EFCC charged to court Steve Judd, the MD of Ascot Flowlines Limited for tax deduction not remitted to the board and pension fund deducted not remitted on one staff named, Bar Austin Aguguo. However to date, EFCC has refused, to charge Jimoh to court for refusal to remit tax deduction from my salary and 790 Ex-Staff of Air Nigeria. Please, help us sir.

For this cause, I was arrested on false allegation, charged to court and was discharged. The gallant FIRS officers that arrested Jimoh were transferred out, at a point, shown red and green pen by the Attorney- General Bar Adoke, the IPO in EFCC was harassed and warned by OGA, in addition to various assassination attempts on my life. 

I hereby appeal to our President to consider this open letter and ensure that the loot is fully recovered.  Thank you President Buhari.

Yours Faithfully,

JOHN I NNOROM (FCA, ACTI, MBA)

I've Identified People, Banks Holding our Stolen Money –Buhari

President Muhammadu Buhari has disclosed that his administration had made headway in the bid to recover the country’s looted funds from former senior public office holders, by identifying financial institutions and countries in which payments for stolen Nigerian crude oil are deposited.

Mr President said: “We are getting cooperation from the international community, including information on ships that take crude oil from Nigeria and change direction, or pour their contents into other ships mid-stream.

“Some monies were paid to individual accounts.

We are identifying the financial institutions and countries that are involved. I have been assured that when we get all our documents together, the United States and other countries will treat our case with sympathy.”

Buhari disclosed this during a meeting with United States Congressmen who paid him a visit at Aso Rock. He told the US Congressmen, led by Rep. Darrel Issa, that the international community had been helpful to Nigeria in terms of gathering intelligence in tracing and recovering the stolen funds.

On his part, Congressman Darrel stated that, “We look forward to helping you in many ways to end the Boko Haram insurgency and the theft of crude oil in the Gulf of Guinea.”

Lagos Seals Up Popular Kanu Nwankwo Hotel

This used to be one of my favourite hotel when I was coming to Lagos from Abuja. I just hope they settle.

The Lagos State Environmental Protection Agency has sealed a hotel owned by ex-Super Eagles player, Kanu Nwankwo, the Hardley Apartments, located on Victoria Island in the state.

They said, “After today, the enforcement unit will go round. Anybody that breaks the seal has violated the Lagos State law. We will then involve the Ministry of Justice.”

Kanu's hotel was among other hotels, churches and mosques sealed across the state on Monday over alleged air and noise pollution. No fewer than 30 facilities were shut in many areas across Lagos.

LASEPA said the owners of the facilities had been contacted several times in the last one year, adding that they refused to fully complied with instructions.

At the Hardley Apartments, it was noticed that the generators powering the hotel had large exhaust pipes facing the road.

The Director of Enforcement, Kayode Bello, ordered that one of the generators be tested, and it was discovered that it gave off thick gaseous emissions.

Bello said, “Even the sound is going to be more than 45 decibels at night. We want you to comply ─ that is the reason we are here. We have been on this for more than a year.”

The doors and gates of Kanu's hotel were subsequently chained, and plastered with the LASEPA seal.

LASEPA General Manager, Rasheed Shabi said the owner of the places sealed would sign an undertaking that they would comply with instructions meant to clean up the environment.

Governor Ambode appoints 19 new permanent secretaries

Press statement from Lagos state government

Lagos State Governor, Mr. Akinwunmi Ambode has approved the appointment of 19 new Permanent Secretaries in the State Public Service. In a statement issued on Monday by his Chief Press Secretary, Mr. Habib Aruna, the appointments are in line with the Governor’s drive to restructure the civil service for efficient performance and service delivery. The development is also coming on the heels of the streamlining of some existing Ministries, Departments and Agencies (MDAs) aimed at ensuring greater efficiency.
The new Permanent Secretaries, the statement said, have been deployed across board in the new structure of the civil service.

The names of the newly appointed Permanent Secretaries are Mr. Bamgboye Abiodun; Mrs. Dapo-Thomas Boladele Aderemi; Mrs. Ariyo Elizabeth Olabisi; Mrs. Adekanye Adebunmi Elizabeth; Mr. Bode Agoro; Dr. (Mrs.) Ayandele Olufolayimika Abiose; Dr. (Mrs.) Sodeinde Nuriat Ibironke; Mr. Odeyemi Mohammed Adesina; Mrs. Odulana Arinola Olufunmilayo. Others are Mrs. Onisarotu Adesina Jemil; Engr. Bade-Adebowale Ajibade Caster; Mrs. Amosu Sewande Ayodele; Mr. Kadiri Abayomi Adebisi; Mrs. Anifowoshe Amidat Abiola; Mr. Adeyemi Folarin Anthony; Dr. (Mrs.) Oduwole Olanike Elizabeth; Mr. Mustapha Abdul Ahmed Olorunfemi; Mrs. Odunlami Funlola Adesola and Mr. Odupitan James Olusola.

Meanwhile, 15 Permanent Secretaries have also been retired from the civil service accordingly. Governor Ambode is expected to swear in the new Permanent Secretaries at the Lagos House, Alausa on Wednesday, August 5th.

We Are Not Divorcing, Our Love Is Real – Will Smite and Wife

The popular action and his beautiful wife have rubbish rumours making the rounds that they're divorcing.

Burundian Journalist and AFP correspondent arrested and beaten

According to Esdras Ndikumana, (pictured above), who is a reporter with AFP, he was taking photos at the scene of the assassination of Burundian top general on Sunday in the capital Bujumbura when he was arrested by members of the National Intelligence Service (SNR) and taken to their office where he was subjected to severe beatings on his back, legs and the soles of his feet. They also broke his finger. He was later released and hospitalized...

"We will seek explanations from the authorities in Burundi and an assurance that such an incident will not happen again. Our correspondent must be able to continue to carry out his work in complete safety" Michele Leridon, AFP's Global news director said in a statement.

The political crisis in Burundi has seen many independent media outlets shut down and many journalists have fled the country or have gone into hiding because of threats and attacks. 

Nigerian enterpreneur Sujimoto meets the Ruler of Dubai (photos)

Sujibomi Ogundele aka Sujimoto, the CEO of Sujimoto construction was recently spotted in Dubai with the king of Dubai, his Royal Highness Mohammed bin Rashid Al Maktoum. The multi-millionaire Nigerian business man has been trying for years to make million dollar investments in Dubai and maybe that's what the short meeting with the king was about. More photos after the cut...