Oil Money: Buhari Starts Probe Of Jonathan's Government

It has been revealed that the former government of Goodluck Jonathan is to face a complete investigation in the nearest future.

The National Economic Council’s ad-hoc committee on the crude oil proceeds management, led by the Edo state governor Adams Oshiomhole, is set to hire two international forensic audit firms to obtain details of the allocation of the revenue accrued into the federation account, Vanguard reports.

The committee head disclosed this on Thursday, August 6, in Abuja, adding that the period under investigation will be from January 1, 2010 to June 30, 2015.

Oshiomhole further told journalists that some agencies involved in revenue generation had already been invited to brief the body, which includes Governor Nasir El-Rufai of Kaduna state, Governor Ibrahim Dankwambo of Gombe and Governor Udom Emmanuel of Akwa Ibom.

Oshiomhole vowed to ensure a thorough and professional approach to the investigation.

“We held our first primary session today here with some of the revenue generating agencies that are supposed to remit funds to the federation account. We had a successful session with Customs, NPA, NEITI, SEC, FIRS, and quite a number of others and next week we will also hear from CBN, Ministry of Finance, Office of the Accountant-General of the Federation.

“For the remaining ones, we agree we are going to meet on Thursday next week, NNPC, NPDC, DPR, NIMASA and other remaining agencies. We have started the work, with the idea to hear them out, what they have been doing, with particular emphasis on revenue accruing from these organizations and whether or not these have been remitted to the Federation Account for judicious distribution.

“We realised that this is a task and given our mandate, even if we were professional accountants because we are sitting governors, we would not have the time to do a forensic audit which this assignment entails.

“Therefore, we have agreed in line with our mandate to appoint two reputable international audit firms to carry out a thorough forensic audit, not only of NNPC, which is more of excess crude, but other monies that accrued to the Federation Accounts. We have other revenues like bonuses, royalties, taxes, VAT that flow into the Federation Account.

“We are taking a holistic review of the entire process, looking at all the agencies that make contribution of funds to the federation account. We are convinced that by appointing audit firms, we will allow professionals to carry out this exercise, so that it will be free of any political colouration and also we will ensure the outcome of the investigation will.

“We have learned, we have listened and asked questions. I think we all have a clear picture of what is happening in those organizations before now. Some have information to supply and we have drawn attention to those areas, they are willing to oblige. We believe in the end, we will be able to not just establish what had happened over the period but much more important, going forward with the changes the President has promised the country.

“It is not going to be business as usual. He started on a clean slate and everybody knows the new rules of the game and in particular as the laws apply to the various institutions are implemented in full. So I think we started very well. We are very confident that we are going to come out with something that is going to be of immense benefits to the Nigerian people… 

“Some reports were produced by PWC but in that report the PWC expressed their frustration and pointed to the fact that they were not able to access all the information they needed and that what they were able to produce was to the extent of information that was made available to them.

“Audit can only be credible as much as information that was made available to auditors. The good news now is that with President Buhari, all the books will be open, no agency has any protection. Any agency that refuses to open the books then is ready to go on confrontation with the authority.

“The forensic audit will act on the whole truth and nothing but the truth so that all stakeholders will have basis to formulate good policies and that Nigeria will never find itself in this circle where huge sums of money are allegedly diverted and unaccounted for. Audit has become a way of life for all public institutions.”

Speaking about the five-year term to be covered, Oshiomhole noted that should there be need to track details preceding the said period, the committee would not limit the time frame.

“We can’t impose a time frame on them but will engage them and by Thursday we will be able to make it public. We need to listen to them and agreed with them on how much time will be okay for them. We are all in a hurry to ensure that the right thing is done. The emphasis is not on time but doing thorough job.

“By next week we will meet with the big ones and we will then be able to tell you the audit firms that we have appointed. They are firms I am sure Nigerians will have confidence in.

“At the end of the audit we will hear them out and reconcile them with what the laws says and arrive at a position. Given the volume of work and complicated nature of issues, we agreed we need professionals to carry out the audit. It is only the professionals that can handle it. It is not good to compromise.”

It should be noted that Governor Oshiomhole’s claims have been widely publicised recently. The first loud statement was made earlier in July when the politician insisted that one of Jonathan’s ministers had stolen $6billion oil money, which he said was revealed to President Muhammadu Buhari by US officials.

In another development an anonymous source from the president’s entourage said that the US had given Buhari a list containing the specific names of oil thieves.

Naij.com 

EFCC launches massive manhunt for sacked Nigerian official over $2.1 million cash seized at Lagos airport

The Economic and Financial Crimes Commission has finalized plans to declare former Executive Director of National Health Insurance Scheme,  Olufemi Thomas, over a $2.1 million (about N413million) suspected money laundering case.

A source at the commission said the EFCC has been on the trail of the former NHIS boss for weeks after a Bureau De Change operator, Ibiteye Bamidele, named him as the owner of a $2,198,900 cash, recovered from him by men of the National Drug Law Enforcement Agency.

Mr. Bamidele was arrested on July 3 at the Murtala Mohammed Airport, Lagos, by officials of the NDLEA.

He was then handed over to the EFCC on July 8, for further investigation.

After Mr. Bamidele named the health insurance boss as the owner of the money, all efforts by the anti-graft agency to locate Mr. Thomas has been futile.

EFCC operatives, our source said, have combed every address associated with the suspect, including his known addresses in Lagos and Abuja.

Efforts were also made to locate him at the Lagos University Teaching Hospital in Lagos but that was also not successful.

The spokesperson for the EFCC, Wilson Uwujaren, confirmed the intensive search for Mr. Thomas, and the plan to declare him wanted.

He also urged anyone with information on the whereabouts of Mr. Thomas to contact the commission or the nearest police station.

Mr. Thomas was sacked as CEO of the NHIS on April 28, 2015 by then President Goodluck Jonathan and replaced by Olufemi Akingbade.

The real reason for his sudden removal remained unknown.

The NDLEA had intercepted Mr. Bamidele, the Bureau De Change operator, while he was carrying US$2,198,900 at the domestic wing of the Murtala Mohammed Airport in Lagos.

The suspect, 46, was apprehended on his way to Abuja, the NDLEA said.

“Preliminary investigation conducted by the Assets and Financial Investigation Directorate of the NDLEA revealed that Ibiteye’s action is in contravention of the money laundering prohibition act 2011 as amended,” the anti-narcotics agency said in the statement by Mitchell Ofoyeju, its spokesperson.

“He alleged that the money belongs to one Dr. Martins Olufemi Thomas, a medical practitioner in Lagos. Investigation conducted by the Agency did not link the money to proceeds of narcotics.

“However, a country having insurgency challenge cannot afford to ignore suspicious movement of large amount of money.”

In his statement to the NDLEA, before he was handed over to the EFCC, Mr. Ibiteye said that he is a Bureau De Change operator.

“I used to work for Ebi Bureau De Change at the Federal Capital Territory (FCT), Abuja before I established my company with the name ND&C Global Investment Limited which is yet to be fully registered with the Corporate Affairs Commission (CAC),” he said.

“One of my clients, Dr. Martins Olufemi Thomas gave me the said amount to take to Abuja. I was arrested by NDLEA officers while checking in the money at MM2 on my way to Abuja.”

Ahmadu Giade, NDLEA Chairman, then handed over the suspect and the cash to the EFCC for further action.

http://www.premiumtimesng.com/

Ezekwesili and Nigeria’s heroes and heroines

Nigeria is not the sort of place to try to be anyone’s hero. It is a great thing to go out of your way to help people; to stand for those in need of justice; to be there when the needy come calling; to be the voice of the downtrodden; to break the chains of injustice and all those things heroes do but whatever you do, in Nigeria, never let anyone place you on a pedestal where they dress you up as a hero because of two major things; this country has a history of misappropriating hero-ship.

Oftentimes, we end up naming the wrong person a hero or heroine; so if you get placed on that pedestal, you are likely to be lining up with mostly men and women who did some really bad things all the while but found the grace to do just one good thing, or just one cosmetically good thing. Then they get called heroes by thirsty human-idol worshippers. The other side of it is that, most of those who will call you a hero only place you in a box where you are limited in terms of your scope of national engagement.

I’ll break that down. More often than not, genuine activists are seen as some sort of heroes. But more often than not, Nigerians often say something like, “but he is an activist, so why is he joining government?” It is one of the underlying paradoxes of our society; that people curse and blame most of those in power for being bad, wicked and corrupt but are first to discourage those even they agree are good people from joining government. Mallam Nasir el-Rufai will by 2019 have transformed Kaduna State into a haven of investment and a desirable place to live in, but he had some people you would expect to know better accusing him of even daring to run as governor, after all, “you are an activist.” I doubt any other anomaly could be more shocking.

So then, before you are termed a hero or “good person,” decide whether to wear the toga depending on whether you’d be joining government some day. If you’d be joining government, refuse to wear that heroes’ apparel. Stay being good and serving people in your private capacity, they will come looking to dress you up as their hero, just make sure to turn their dress down. Let each refusal to be their hero be louder than the last time, before you go by the way of Julius Caesar.

This is why one was impressed and excited to see Oby Ezekwesili recognised by TIME as one of the most influential people of 2014. The recognition, like the early ones received by the late heroic Dr. Stella Adadevoh, had to come from abroad even when known rogues and election riggers were being “honoured” by the Federal Government. The TIME magazine recognition was not an award for her Oby, it was a genuine recognition of the Bring Back Our Girls movement all over the world, especially the resilient Abuja end of the movement. The Chibok girls have been in captivity for almost 500 days now and their advocates have been standing up for them and being their voice for almost just as long. That their recognition came from abroad should not be shocking to anyone alive today as it would not be to the audience that already heard Jesus Christ say, “A prophet is not without honour except in his own town, among his relatives and in his own home.”

Ezekwesili, to me, represents the cover image of Nigeria’s uncelebrated heroes and heroines. She is that person you want your son or daughter to have a chat with and be guaranteed that the young person would better understand the essence of life. She is not the one to just advise and wish you well as you depart through the door, she is the type to help you open the doors to your dreams; she will make the calls, she will call the meetings, she will guide and guard, pray and stand, she will drop a seed out of her own humble income and she will continue to help push you and your dream until she sees you both flying.

And then, the woman popularly called Oby will be there again letting you see nothing has been done. She will be the one to remind you that the praises and criticisms are not your business, that your business is the goal. This is not one sharing just a personal experience, this is me sharing the personal experiences of many young and not so young Nigerians that have had the privilege to meet and be blessed by Oby Ezekwesili. She has her imperfections and like most of those who stood against the impunity and maladministration of the last administration, she has been abused and demonised by those who would rather Nigeria continued to slide into the dark tunnels of a dark abyss, one without the hope-inducing light at its end. In those dark days, being with her alone was enough to bring life and light to the cause and resolve never let go of Nigeria. As she would not be celebrated in our country, it at least helps for one to write this, so the young ones can see that not everyone who was in government and who is in government is a bad person or a thief.

Yes, everyone who joins government in this part of the world is likely to be demonised but those who are not of the devil cannot have the insignia of evil successfully stamped on their heads.

Please do not miss the point as this is not a call for us to start decorating these men and women, known and unknown, who are helping to make ours a better society. I would not want us to decorate them heroes and heroines so they do not end up competing with heroes like Goodluck Jonathan who only had to make a call, concede an election he fairly and genuinely lost, to be called a hero by a crowd that had spent the better part of a year cursing and castigating the Ezekwesilis of this world for daring to bring the issue of the Chibok girls and other victims of terrorism to the fore.

Nigeria will change and this country will move forward. The time would come in this country when those who ought to honour them will honour our true heroes and heroines. They will not be honoured because of what they are able to donate at these award ceremonies that are more about giving plaques and trophies to the rich and powerful in exchange for money and privileges. They will be honoured because of the content of their character, because of the effects of their deeds and because by their works and ways, they inspire the rest of us to be better.

That time is here soon enough but before the dawn of that day, let it be said that some of us recognised and celebrated the men and women, known and unknown, who are helping to make ours a better society. Someone sees your sweat, your love and your help. It does not matter what the ignorant and depraved minds call you. In the hearts of those who value your sacrifices for others, your names will be enshrined forever. Make sure to celebrate someone you know belongs to this group today!

http://www.punchng.com/opinion/ezekwesili-and-nigerias-heroes-and-heroines/

Emeka Offor, Abike Dabiri’s firms, others owe banks N143.81bn

Nigerian Deposit Money Banks on Monday continued with the policy of naming and shaming their delinquent debtors with further publication of the names of firms and their directors whose loans have become non-performing for more than 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 of Nigeria Limited, Access Bank Plc, Diamond Bank Plc and Unity Bank Plc.

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.

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.”

The PUNCH had on March 15, 2015 reported that the volume of the NPLs in the Nigerian banking industry was set to rise further on the back of the devaluation of the naira amid weak global crude oil prices.

Global rating agency, Fitch Ratings, had in February, after the second round of devaluation of the naira, predicted that the banks’ non-performing loans would rise above the CBN’s five per cent limit by the end of this year, but below 10 per cent.

http://www.punchng.com/news/emeka-offor-abike-dabiris-firms-others-owe-banks-n143-81bn/

How Ooni of Ife’s Death Should Be Announced

Yoruba has a rich tradition. The age-long culture gives form, content and predictability to the beliefs of its people. The custom has been inherited from generation to generation. The symbol of the unity of the race is kingship. Its cradle is Ile-Ife, the cherished sacred abode of its progenitor, Oduduwa.

Whenever any Owooni (Ooni) Adimula joins his ancestors, the news is not broken without following the due process of culture. Ooni is the property of Yoruba race. He is the custodian of the household of Oduduwa, its shrine and the protector of its legacies. Therefore, it is absolutely a taboo for any prince, royal family and palace chiefs to break the news without clearance or approval from the appropriate traditional quarters.

The announcement of the Ooni’s death is a traditional role conferred on his brother, the Oore of Otun and Mobaland, a son of Oduduwa and one of the 16 foremost monarchs in Yorubaland. The reigning Oore is Oba Adedapo Popoola, an economist and chartered accountant.

After ascertaining that the Ooni has waja (died), the palace chiefs are expected to inform the Oore. The Oore will mourn his passage in a traditional way. He will not waste time in breaking the news to other Oduduwa children, especially the Alaafin, the descendant of Oranmiyan Akinorun, the Ewi of Ado-Ekiti, the Oba of Benin, the Onipopo of Popo, the Onisabe of Sabe, and the Owa Obokun Adimula. The Oore will also carry along the Ajero Asotemaru, the Alara and the Obalufon Alayemore.

The foremost rulers will break the news to their towns and vassal towns. Days of mourning will be declared. The attention of the towns and villages will focus on Ile-Ife, the Orirun, where their kings obtained their legitimate crowns.

In ancient times, a celebration will be proclaimed, with its characteristic visitation to the cradle by monarchs, accompanied by their chiefs and families. The palace chiefs will play dominant roles during the burial ceremony. They will also play dominant roles during the selection of a new prince for the prestigious throne.

After the new Ooni is crowned, Yoruba monarchs will accord him automatic recognition and respect. He may visit selected palaces of his brother obas in the spirit of brotherhood. As a prince, the history of the race must be on his lip. He is expected to be factual. In the days of yore, the Ooni was the custodian of knowledge. Thus, during the early days of colonial era, Owooni Derin Ologbenla, the Ooni of Ife, who doubled as the Baale of Oke-Igbo, was the only son of Oduduwa, whose testimony could be trusted when the foreigners were trying to resolve the rift between the Awujale of Ijebuland and the Epe monarch over land. The Ooni declared that Epe and Ikorodu were extension of Ijebuland. His evidence was upheld by the British.

Also, only the Ooni’s voice was trusted by the colonial masters in ascertaining the authenticity of claims and counter-claims to royal crowns by the children of Oduduwa. In those days, there was no rival between the Ooni and the Alaafin of Oyo Empire. While the Alaafin’s empire extended from Ilorin, where Afonja rebelled against the suzerain, to Popo and Sabe in the present-day Republic of Benin, he still regarded Ife as his ancestral home. Thus, there was no friction, but cooperative governance, based on history and traditional consultations.

But, neither Ooni nor Alaafin could prevent communal clashes and wars that ravaged Yorubaland for over 100 years. The wars were motivated by expansionist tendencies and desire for autonomy. The old Oyo empire was weakened by the Fulani warriors who assisted Afonja to sustain his rebellion against Alaafin. Later, these intruders who wanted to run over Yorubaland to dip the Koran in the Lagos Lagoon were stopped by the Ibadan powers. Also, Ife caved in, following the onslaught by Modakeke in a rebellion fuelled by Oyo vassal towns in the days of Owooni  Abewela.

Tradition has it that, when Ife was dispersed, the lot to “re-assemble” the ancient town fell on Olubuse, the great warrior, who invited dispersed people who had gone to sojourn in Ifewara and Ifetedo and its environs for the historic war of liberation. Olubuse Ere invoked the spirit of his forefathers, urging them to rise in defence of the cradle. He regained Edun Abon, Ipetumodu and other towns and silenced the Modakeke insurrection.

However, after his death, Owooni Ajagunlaforikan Ademiluyi renewed contract with Modakeke. It was in the early days of the colonial rule. He coveted the colonial purse, with an intention to enlarge his wealthy coast. Then, rulers received stipends from the authority, based on the population of their towns. But, when war broke out between Ife and Modakeke, Ife was again under siege. The acrimony pervaded in Ile-Ife and Modakeke until 1930 when an eminent prince, Adesoji Tadeniawo Aderemi, ascended the throne.

Aderemi’s coronation in 1930 was a turning point. It connected the past with the present. According to historians, as he was being crowned, a rainbow was said to have appeared. The palace was worried by the curious sign. Herbalists and other ancient fathers of secrets were assembled to interpret the signs. In unison, they congratulated Aderemi as they paid homage. The Ooni was informed that a prince had been born into the royal family. When a search was conducted, it was discovered that the son of Ooni Adelekan Sijuwade Olubuse 1 had given birth to a son. He was named Omo-Oba Okunade. The old people gazed into the future and told the king that he would live to an old age and prosper. They did not rule out the reality that a successor had been born.

Okunade Sijuwade was born into opulence. He was born with silver spoon in his mouth. When he was a student of Abeokuta Grammar School, he flaunted his background as a royal prince of the cradle. The principal, Canon Israel Oludotun Ransom-Kuti, was a disciplinarian. But, when he wanted to flog Okunade after committing an offence, the prince objected. He told Kuti: “I am the future Ooni of Ife.” Kuti was a highly respected Yoruba man. He was versed in the history and culture of the race. Before he was transferred to Abeokuta Confederation, he had served as principal in Ijebuland.

The principal took the young prince to his office. He made enquiries about Okunade’s claim. When he found out the truth, he exclaimed: “I will not cane the future Oba of Yoruba.” The old teacher admonished him to behave well henceforth, saying that anybody who aspired to lead Yoruba must not be found wanting.

After leaving Abeokuta, Sijuwade worked in his father’s company and in The Tribune before going abroad for higher studies. He returned as a big boy-a sales manager with Leventis Motors. He made money and ventured into private business. He recorded huge success. He became a philanthropist. His best friend was Bobo Doherty.

In December 1980, Sijuwade fulfilled his destiny. He had prepared for the throne in advance. It was a great privilege for him to succeed Aderemi, a former member of the House of Representatives and minister.  In fact, he contributed immensely into the rehabilitation of the palace during Aderemi’s reign. Prince Sijuwade was a king-in-waiting. Yet, there was no rivalry and mistrust between him and Sir Aderemi, who had ‘adopted’ him as a son.

One of his rivals during the obaship tussle was Dr. Ademiluyi, a respected surgeon. But, Sijuwade’s popularity, charisma and carriage dwarfed them all. The emerging political class was competing for the attention of the traditional rulers. During the formation of the Egbe Omo Oduduwa, which later became the Action Group (AG), Oba Aderemi was the patron, along with Pa Akinola Maja and Olowo of Owo, Oba Olateru-Olagbegi. The Alaafin, Oba Adeniran Adeyemi, was a fanatical supporter of the National Council of Nigerian Citizens (NCNC). Ooni’s support for the Egbe and AG gave the party an edge.

Thus, when he passed on, the political forces were at play again. The former AG Publicity Secretary, the late Chief Bola Ige, was the governor of Oyo State. The late sage, Obafemi Awolowo, the Odole of Ife and his wife, Mrs. Dideolu Awolowo, had given Sijuwade their blessing. The coast was clear for him to mount the throne of his forefathers. The coronation was celebrated throughout Yorubaland and beyond. In attendance were traditional rulers from all parts of the country. Even, Queen Elizabeth of England sent a representative.

After the ceremony, he embarked on tour of Yorubaland. He visited Oyo, Ekiti, Owo, Akoko, Ijebu, Remo, Egba, Benin, Popo, Sabe and Yoruba in Brazil. He donated to palaces, homes and schools.  Oba Sijuwade made HID Awolowo the Yeyeoba of Ile-Ife and later, Yeye Oodua of Ile-Ife.

But, crisis soon broke out in his kingdom. There was resumption of hostilities between Ife and Modakeke. Many people lost their lives. Buildings were in flames. Many houses were deserted. Travelers had a nightmare passing through Ife. Yoruba mourned over the fate of the cradle. It was a wide departure from the reign of Aderemi, who had married Segilola from Modakeke. But, historian cannot blame Oba Sijuwade. The acrimony dated back to the reign of his illustrious grandfather, Oba Adenekan Olubuse. Peace did not return until a separate local government was created for Modakeke.  Also, crisis broke out between the Ooni and other obas- the Alaafin, Owa and Soun of Ogbomoso- over the chairmanship of the Oyo State Council of Obas and Chiefs. The crisis was resolved when osun State was created. Ooni became the permanent president. The chairmanship is now being rotated among other first class obas.

However, Ile-Ife lost its bid for the capital of Osun State, to the consternation of Oba Sijuwade. The factors- centrality, as it were, past role of Osogbo as the headquarter of Osun Division and government preference favoured the rolling steel city. But, a local government with its headquarter at Enuowa, Ile-Ife, was created to compensate for the loss.

The tension between Alaafin Layiwola and Oba Sijuwade also intensified. Both made antagonistic claims as the overlord. Yoruba obas kept silent. Oba Adeyemi said he is the leader of the Oyo empire. Oba Sijuwade said the empire had ceased to exist. Recently, the Ooni upgraded some community heads into Obaship. His authority was not questioned.

Oba Sijuwade and the Oba of Benin, Omo N’oba Uku Akpolokpolo, also clashed. The Benin monarch had disputed the historical claim that Oranmiya’s children ruled Benin Kingdom. Some historians from Benin alleged that the legendary Ife prince escaped from Benin when he was about to be apprehended for an offence. The Olowo-Eko took sides with the Benin monarch. Oba Sijuwade cried foul. He said even Oba Akenzua acknowledged his Ife connection. He explained that, up to the 1930s, the official language at the palace of the Oba of Benin was Yoruba. Turning to Yeyeoba Awolowo at a ceremony in Lagos, he said: “You are the Yeyeoba of Yoruba, which extends to Benin.”

Oba Sijuwade also had to contend with political crises in Osun State between the Peoples Democratic Party (PDP) and the defunct Action Congress of Nigeria (ACN).

He was also unable to forge unity and cohesion in Yorubaland, which has been bitterly divided by the pursuit of antagonistic interests by members of the political class.

http://www.nigerianmonitor.com/

Banks To Publish Names Of 1600 Debtors This Week

About 18 Banks and discount houses operating in the country will publish the names of at least 1600 customers whose loans have become non-performing this week.

This follows the expiration of the July 31, 2015 deadline set by the Central Bank of Nigeria for banks and discount houses to publish the names of debtor-companies, their subsidiaries and directors in national newspapers.

The CBN had on April 22 directed the financial institutions to commence the publication of the names of their delinquent debtors from August 1.

Banks and discount houses are to publish the list of the delinquent debtors in at least three national newspapers on a quarterly basis.

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

It was learnt on Saturday that the number of delinquent debtors on the lists under preparation by over 18 banks and discount houses operating in the country range from 100 to over 300 names for each bank.

The chief executive officer of a bank, who spoke on condition of anonymity because of the sensitivity of the matter, said at least over 1,600 names of delinquents were expected to be published by all the banks during the exercise.

“Going by what we can see across the industry, at least 1600 names are expected to be published by all the deposit money banks and a few discount houses,” the bank CEO said.

Officials of financial institutions confirmed to our correspondents on Saturday that they would publish the names of the delinquent debtors this week in compliance with the CBN directive.

The spokesperson for First Bank of Nigeria Limited, Mr. Babatunde Lasaki, told one of our correspondents that the tier-1 bank would comply with the central bank’s directive by publishing the names of the debtors during the week.

“We will comply. We will publish the names this week; any time from Tuesday,” he said.

Also, the Head, Corporate Communications, Diamond Bank Plc, Mr. Mike Omeife, confirmed that the lender would comply with CBN’s directive, saying “we will publish this week.”

Similarly, the spokesperson for Skye Bank Plc, Mr. Rasheed Bolarinwa, said the bank would publish the names in line with the CBN’s directive but he declined to give the specific date.

Top bank officials said chief executives were busy fine tuning the list.

“We are fine-tuning the list. As of Friday, some customers were still coming to pay while a few others came to renegotiate. Over this weekend, we are drawing this final list which will be published on Tuesday,” the executive of a tier-2 bank told one of our correspondents on condition of anonymity.

Meanwhile, the CBN on Saturday ruled out possible deadline extension on its directive to banks to publish the names of the debtors.

The Director, Corporate Communications Department, CBN, Mr. Ibrahim Mu’azu, said there was no extension to the deadline.

As of last week, debtors were rushing to banks to renegotiate their loans.

The CBN had in a circular dated April 22, 2015 gave the July 31 deadline, saying the decision was necessary in order forestall the spate of non-performing loans in the sector.

The CBN also warned banks against being used as conduit for the transfer of illicit funds and money laundering activities.

The bank in a statement issued at about 9:06pm on Saturday night by Mu’azu said the warning became imperative owing to a recent report by the Global Financial Integrity Group which ranks Nigeria as one of the 10 largest countries for illicit funds flows in the world.

The group in the report estimated that about $15.7bn (N3.09trn) of illicit fund goes through the nation’s banking system annually.

But the CBN in the statement said although it had not done an independent assessment of the assertion of the group, it stated that the bank would step up vigilance in order to ensure that Nigerian banks are not used as conduit for illicit funds flow, especially in foreign currency.

http://news2.onlinenigeria.com/

Boko Haram: African diplomats vow to support Nigeria

The African Diplomatic Group has condemned the terror attacks carried out by the Boko Haram sect in parts of the country.

The diplomats also called on the Federal Government to expedite action for the rescue or release of the abducted Chibok school girls even as they commiserated with the government of Nigeria, the families of the kidnapped girls and other victims of the terrorists’ attacks.

The ambassador of Shaharawi Arab Republic to Nigeria and Dean of the Diplomatic Corps, Oubi Bachir said this on Friday during the Africa and Mandela Day celebrations in Abuja.

Bachir said, “The Africa Diplomatic Group condemns all threats to the progress of Africa, including Boko Haram terror attacks that have taken the lives of hundreds of innocent Nigerians, and families of the victims for loss of their loved ones.

“The group calls for the unconditional release of the over 200 girls, who were kidnapped in chibok, Borno State, on April 14, 2014.

“Africa is committed to garner all the necessary resources to support Nigeria in its quest to combat terrorism.”

The envoy noted that Africa had come a long way since the formation of the Organisation of African Unity in 1963, which later changed to African Union in 2002, adding that the continent, despite its challenges had made tremendous strides in peace and development.

He said the United Nations General Assembly on July 18, 2009 launched Nelson Mandela International Day in recognition of the birth anniversary of the iconic late President of the Republic of South Africa for his immense contribution to the liberation of his country and humanity in general.

The High Commissioner of South Africa to Nigeria, Lulu Mnguni, who paid tributes to Mandela, called on all well-meaning individuals to emulate the iconic virtues of the late former South African president.

In his remarks, the Permanent Secretary, Ministry of Foreign Affairs, Amb. Bulus Lolo called on Africa to unite and collaborate in the fight against terror and insurgency.

Culled from: Punch News