Coordinating Minister for the Economy and Minister for Finance , Dr Ngozi Okonjo-Iweala has called for the creation of a bank that will cater exclusively for the financing need of women . She made this call in a keynote address at the 2nd African Women Economic Summit in Lagos last week.
Meanwhile, The Central Bank of Nigeria (CBN) will launch a special fund for micro, small and medium (MSME) enterprises in October. CBN Governor, Mallam Lamido Sanusi disclosed this saying fund will replace the old agricultural credit guarantee scheme and 60 per cent of it will be dedicated for women entrepreneurs.
Reiterating the apex bank ’s support for women in businesses, he said, “I am not one of those that believe that all men are better than women or that women are better than men. You need to both to have diversity on the board. Any board that has a combination of men and women is better than any one that has men only or women only.
The central bank has proposed to set up a micro small and medium enterprises (SME) fund which 60 per cent will be for women empowerment. This fund is expected to replace the old agricultural credit guarantee scheme that we have had. When this fund is launched, at least 60 per cent of the loan will go to women business owners at single-digit interest rate.
Hopefully, by October this year, when we all come back from the World Bank meetings, it will be inaugurated.” In her address, Okonjo-Iweala said it is no longer a debate on whether there should be any investment on women, since such investment is the only way to sustain current growth across Africa.
She said even though Africa has produced two women Presidents in Liberia and Malawi,women’s participation in politics and governance is still too low, giving their strategic role and number. “Women are the third largest emerging markets in the globe. (They are) the third largest sources of growth.One of the fastest ways to sustain current growth is to invest in women, at least this willgrow the Gross Domestic Product (GDP),” shesaid.
She said while the global economies were experiencing greater uncertainties as manifested in the economic crisis in Europe, United States and other emerging markets like China, Brazil and India, African economy is growing at 5%.
As a way out of the financial exclusion being experienced by women, she advocated for a specialised bank that will cater for the financial interest of women alone. “Let’s us be creative, let’s join hands together in other to solve women’s problems in financing.…Lets come together, because we are used tosolving and coming together to empower ourselves,” Okonjo-Iweala said.
Also speaking at the summit, Vice-President, African Development Bank (AfDB), Cecilia Akintomide, who represented AfDB PresidentDonald Kaberuka, said that participants at the summit should focus on solving other problems confronting women, including education, access to health and capacity building, saying without addressing these issues, women would continue to be relegated to the background.
“More than half of women who died during birth are from Africa. African women hold only 26% of small size businesses in sub-Saharan Africa, and on the global front only 15%, which is very low.
‘We are not going to participate fully in growing the economy without access to financing. Inclusion is very important. Unless we do the right thing, we may not be able to move forward as we want. Each one of us here has a responsibility to promote women empowerment,” she said.
Tuesday, July 17, 2012
Tuesday, July 3, 2012
Oba of Benin denies shunning Jonathan
The Oba of Benin, Omo N’Oba N’Edo Uku Akpolokpolo, has refuted publications in some national newspapers that he shunned President Goodluck Jonathan and members of the Peoples Democratic Party (PDP) on their recent visit to his palace.
The Benin traditional council, in a statement signed by its secretary and issued on the authority of the traditional ruler, in Benin City,on Monday, described some of the publications as mischievous.
According to the statement, “the palace would like to make it clear that the Omo N’Oba did not shun President Jonathan and the PDP members that came with him.
“In fact, it is the respect and love Omo N’Oba has for the president that made him to still manage to see the president in a private chamber in the palace, despite a complicated situation that day.”
Besides, the statement reminded the public that “three weeks ago, Omo N’Oba waited for over two hours in his open office, where he received Vice-President Namadi Sambo and the PDP chieftains that were in Benin for political rally.
The traditional ruler used the medium to advice politicians to avoid violence in the forthcoming gubernatorial election in the state.
The Benin traditional council, in a statement signed by its secretary and issued on the authority of the traditional ruler, in Benin City,on Monday, described some of the publications as mischievous.
According to the statement, “the palace would like to make it clear that the Omo N’Oba did not shun President Jonathan and the PDP members that came with him.
“In fact, it is the respect and love Omo N’Oba has for the president that made him to still manage to see the president in a private chamber in the palace, despite a complicated situation that day.”
Besides, the statement reminded the public that “three weeks ago, Omo N’Oba waited for over two hours in his open office, where he received Vice-President Namadi Sambo and the PDP chieftains that were in Benin for political rally.
The traditional ruler used the medium to advice politicians to avoid violence in the forthcoming gubernatorial election in the state.
Monday, July 2, 2012
JTF arrests suspected oil pipeline bomber
Gbereke, alias “Gen. Cairo’’, who is alleged to be a pipeline bomber in the region, was paraded before newsmen in Yenagoa on Friday by the JTF Media Coordinator, Lt.-Col. Onyema Nwachukwu.
Nwachukwu told newsmen that the suspect had confessed that he vandalised numerous pipeline in Delta and Bayelsa.
“The suspect is vicious and notorious in the actof pipeline bombings and vandalism and had been on our radar over the past three months,” Nwachukwu said.
According to him, Gbereke confessed during interrogation by JTF Commander, Maj.-Gen Johnson Ochoga, to the bombing of Agip Manifold and trunk lines at Azagbene and Biseni communities in Bayelsa.
Nwachukwu said he also confessed to the destruction of two oil wells that caused pollution of waters in Berisindi, adding that Gbereke made his confessions “willingly and voluntarily”.
He said the suspect also admitted leading his eight-man gang to carry out other pipeline attacks in the creeks of Warri and the destruction of Shell Petroleum Development Corporation (SPDC) pipeline at Tuomo.
The JTF spokesman said that Gbereke, 25, hailed from Bolou Orua community in the Sagbama Local Government Area of Bayelsa.
He said that the suspect had being hiding in Bonny Island in Rivers and Warri in Delta.
“We have been hunting him and his gang; so only yesterday (Thursday) our intelligence operatives tracked him down at Warri in Delta and lured him out of his hideout down to the JTF headquarters here in Yenagoa.’’
Gbereke,who claimed leadership of the Movement for the Survival of Niger Delta Disarmed Youths, said he was an ex-militant before the amnesty proclamation and had led a 7,000-man army.
He claimed he carried out pipeline bombings to draw government’s attention to the plight ofhis group.
The suspect said that his group had submitted 9,000 assorted arms and ammunition under the third phase amnesty but were yet to be documented by the authorities.
“It is the government that said we should submit arms and that we will be registered under the third phase of the amnesty programme.
“But up till date, my group is yet to be documented. We carried out numerous open protest and blocking of highways.
“We even petitioned Hon. Kinsley Kuku, the Amnesty Director, and also attempted to take our protest to Abuja but we were stopped by security agents at Lokoja.
“Upon all these our efforts, government refused to listen to us,’’ he said.
Gbereke said that following his helpless situation, his gang resolved to attack oil pipelines to get the authorities to register them under the third phase amnesty programme.
The JTF spokesman said the suspect would remain in the custody of taskforce until investigation into his activities was completed.
Nwachukwu told newsmen that the suspect had confessed that he vandalised numerous pipeline in Delta and Bayelsa.
“The suspect is vicious and notorious in the actof pipeline bombings and vandalism and had been on our radar over the past three months,” Nwachukwu said.
According to him, Gbereke confessed during interrogation by JTF Commander, Maj.-Gen Johnson Ochoga, to the bombing of Agip Manifold and trunk lines at Azagbene and Biseni communities in Bayelsa.
Nwachukwu said he also confessed to the destruction of two oil wells that caused pollution of waters in Berisindi, adding that Gbereke made his confessions “willingly and voluntarily”.
He said the suspect also admitted leading his eight-man gang to carry out other pipeline attacks in the creeks of Warri and the destruction of Shell Petroleum Development Corporation (SPDC) pipeline at Tuomo.
The JTF spokesman said that Gbereke, 25, hailed from Bolou Orua community in the Sagbama Local Government Area of Bayelsa.
He said that the suspect had being hiding in Bonny Island in Rivers and Warri in Delta.
“We have been hunting him and his gang; so only yesterday (Thursday) our intelligence operatives tracked him down at Warri in Delta and lured him out of his hideout down to the JTF headquarters here in Yenagoa.’’
Gbereke,who claimed leadership of the Movement for the Survival of Niger Delta Disarmed Youths, said he was an ex-militant before the amnesty proclamation and had led a 7,000-man army.
He claimed he carried out pipeline bombings to draw government’s attention to the plight ofhis group.
The suspect said that his group had submitted 9,000 assorted arms and ammunition under the third phase amnesty but were yet to be documented by the authorities.
“It is the government that said we should submit arms and that we will be registered under the third phase of the amnesty programme.
“But up till date, my group is yet to be documented. We carried out numerous open protest and blocking of highways.
“We even petitioned Hon. Kinsley Kuku, the Amnesty Director, and also attempted to take our protest to Abuja but we were stopped by security agents at Lokoja.
“Upon all these our efforts, government refused to listen to us,’’ he said.
Gbereke said that following his helpless situation, his gang resolved to attack oil pipelines to get the authorities to register them under the third phase amnesty programme.
The JTF spokesman said the suspect would remain in the custody of taskforce until investigation into his activities was completed.
Stephen Keshi slams critics over home-based Eagles
Super Eagles' Head Coach, Stephen Keshi believed whose crying wolf over the inclusion ofmany home-based players in the nationalteam are mischief makers.
Keshi has not hidden his desire to revamp theSuper Eagles after taking the reins of the nationalteam following their failure to qualify for the 2012African Cup of Nations Cup-with a team populatedmostly by legion of the country's players abroad.
But there have been a gale of criticism from asection of the fans following the less than impressiveperformances in their three completivematches last month despite the factthat they beatNamibia 1-0; drew 1-1 with Malawi, and a 2-0 winagainst Rwanda.
"it is unfortunate if some people don't believein what we are doing presently with theSuper Eagles,"said the former captain of the national team.
“I have no business in managing any player but I think we have to give the home-based players theopportunity too. They are Nigeriansand if we all agree that something was wrong with our football in recent years, we must find solutions to such problems."
He reiterated that every Nigerian player irrespective of where they are based would bedrafted to help the course of the national team in as much as they have something to offer, adding that he has been guided by equity and fair play in the choice of players.
"We would need all the best players as time goes on but honestly, I don't see anything wrong in what we are doing with the home-based players," Keshi enthused."We aregiven them the opportunity to become better players which in turn would make them responsible Nigerians."
Keshi said those who are quick to condemn his usage of home based players should remember his antecedent when he managed the Hawks of Togo as well as the Eagles of Mali.
"When I was in Togo, I worked with the homebased players and we qualified for the 2006 WorldCup. I did the same when I was in Mali, so I don't have any personal agenda by using many homebased players for the Super Eagles," he added.
The Super Eagles are currently on a recess but having been slated to face Arsenal Football Club on August 5 as the English Premiership side round off their pre-season activities.
Keshi has not hidden his desire to revamp theSuper Eagles after taking the reins of the nationalteam following their failure to qualify for the 2012African Cup of Nations Cup-with a team populatedmostly by legion of the country's players abroad.
But there have been a gale of criticism from asection of the fans following the less than impressiveperformances in their three completivematches last month despite the factthat they beatNamibia 1-0; drew 1-1 with Malawi, and a 2-0 winagainst Rwanda.
"it is unfortunate if some people don't believein what we are doing presently with theSuper Eagles,"said the former captain of the national team.
“I have no business in managing any player but I think we have to give the home-based players theopportunity too. They are Nigeriansand if we all agree that something was wrong with our football in recent years, we must find solutions to such problems."
He reiterated that every Nigerian player irrespective of where they are based would bedrafted to help the course of the national team in as much as they have something to offer, adding that he has been guided by equity and fair play in the choice of players.
"We would need all the best players as time goes on but honestly, I don't see anything wrong in what we are doing with the home-based players," Keshi enthused."We aregiven them the opportunity to become better players which in turn would make them responsible Nigerians."
Keshi said those who are quick to condemn his usage of home based players should remember his antecedent when he managed the Hawks of Togo as well as the Eagles of Mali.
"When I was in Togo, I worked with the homebased players and we qualified for the 2006 WorldCup. I did the same when I was in Mali, so I don't have any personal agenda by using many homebased players for the Super Eagles," he added.
The Super Eagles are currently on a recess but having been slated to face Arsenal Football Club on August 5 as the English Premiership side round off their pre-season activities.
Storm destroys 40 houses in Kebbi
A statement by the Director of Social Development in the area, Malam Salihu Mohammed, said on Monday in Birnin Kebbi that the storm occurred late on Sunday night.
The statement said that many people, including primary and secondary school pupils, whose schools were affected, had beenforced to seek refuge elsewhere pending whenassistance would reach them.
The statement said that schools and primary healthcare centres (PHC) were affected by the storm.
“While no life was lost, residents of the affected households lost property, food stuff and other valuables to the storm,’’ the statement said.
The statement noted that the area was also affected by rainstorm last year.
Fadama Zauro Development Area was carved out of Arewa Local Government Area of the state.
The statement said that many people, including primary and secondary school pupils, whose schools were affected, had beenforced to seek refuge elsewhere pending whenassistance would reach them.
The statement said that schools and primary healthcare centres (PHC) were affected by the storm.
“While no life was lost, residents of the affected households lost property, food stuff and other valuables to the storm,’’ the statement said.
The statement noted that the area was also affected by rainstorm last year.
Fadama Zauro Development Area was carved out of Arewa Local Government Area of the state.
We will eliminate fake lottery operators in Nigeria - DG
Igho said this in an interview with the News Agency of Nigeria in Abuja on Sunday. “We have advised lottery operators to advertise on radio or television so that interested persons can participate. It is not right to advertise a lottery through phone text messages.
“We are working on that and I want to assure Nigerians that very soon we are going to eliminate all unsolicited text messages and anybody who sends any individual a text will face the punishment. All lottery operators must go on air to create awareness on the modalities of their lottery.”
Igho said that the commission monitored the reliability, security and efficiency of the National Lottery Central Computer Systems and network of terminals to ensure transparency.
He noted that the commission ensured that prizes got to the winners of lotteries. “It is the responsibility of the commission to protect theinterest of stakeholders and ensure that winners receive the right prizes.
“We send our staff all over the country to monitor and ensure that the right winner is given the right prize advertised for. If we don’t do that some will advertise for houses and cars and give the winners bicycles. We try to avoid cheating."
“We are working on that and I want to assure Nigerians that very soon we are going to eliminate all unsolicited text messages and anybody who sends any individual a text will face the punishment. All lottery operators must go on air to create awareness on the modalities of their lottery.”
Igho said that the commission monitored the reliability, security and efficiency of the National Lottery Central Computer Systems and network of terminals to ensure transparency.
He noted that the commission ensured that prizes got to the winners of lotteries. “It is the responsibility of the commission to protect theinterest of stakeholders and ensure that winners receive the right prizes.
“We send our staff all over the country to monitor and ensure that the right winner is given the right prize advertised for. If we don’t do that some will advertise for houses and cars and give the winners bicycles. We try to avoid cheating."
SEC Bribery Scandal: Hembe, Azubuogu know fate on July 4
The ruling, which was scheduled for Monday, was adjourned to July 4 because Justice Abubakar Umar’s court did not sit.
The court’s Registrar, Mrs Rita Jacobs, who announced the adjournment, did not give reason the judge’s absence. She asked them tocome on Wednesday for the ruling.
Umar was supposed to rule on the preliminaryobjections filed by Hembe and Chris Azubuogu, the former deputy chairman of the committee, challenging their arraignment.The former Director-General of the Securities and Exchange Commission (SEC), Arunma Oteh, had alleged two suspects diverted of public funds amounting to 4,095 dollars The allegation led to their suspension from the committee.
They were to be arraigned by EFCC for converting 4,095 dollars about N600,000 givento them by SEC as travelling allowance for a conference in Dominican Republic in October 2011.
The EFCC said the offence was contrary to Section 308 of the Penal Code Act, Laws of the Federation of Nigeria, 2004 and attracted a jailterm of not less than seven years.
Umar had granted the EFCC permission to arraign Hembe and Azubuogu on May 10.
The suspects could not be arraigned on May 28 because the EFCC did not serve the proof ofevidence.
According to the suspects, the preliminary objection was not served on the anti graft agency.
Hembe's counsel, Jibrin Okutepa (SAN) in a preliminary objection, said that his client is challenging the jurisdiction of the court to entertain the charge.
Okutepa also said that the court lacked jurisdiction to hear the suit, because the allegation was still being investigated by the House of Representatives Committee on Ethicsand Privileges.
He argued that the counter-affidavit contained “extraneous facts’ and that the EFCC being a respondent in the suit was contrary to the Evidence Act.
"The prosecution is nothing but persecution and a waste of Nigeria’s public money," he said. "By virtue of Section 89 of the 1999 Constitution, it is the National Assembly that has the jurisdiction to investigate this matter.”
Azubuogu’s counsel, Linda Ikpeazu, argued that since the report of the committee investigating the allegation had not been released, it would not serve the cause of justice to try her client.
"There is a case of inadequacy of documents and so, there is no case for my client to answer to.
According to her, he sought to return the money through the Clerk of the House.
"It was the Director-General of SEC, who askedhim to keep the money. Since there will be another conference. The absence of the Director-General of SEC in this case exposes the complicity in it,” she said.
Citing Section 167 (b) of the Evidence Act, Ikpeazu submitted: "the prosecution is bound to produce all criminal documents to the courtto warrant trial.’’
Ojeffu Ibe, the EFCC counsel, urged the court to dismiss the objections and asked the court to establish whether the estacode was used for the purpose it was approved.
Ibe said that the 1999 Constitution only gave the National Assembly powers to legislate and not powers to investigate.
He argued that the accused persons should first take their plea on the alleged offence of criminal misappropriation.
The court’s Registrar, Mrs Rita Jacobs, who announced the adjournment, did not give reason the judge’s absence. She asked them tocome on Wednesday for the ruling.
Umar was supposed to rule on the preliminaryobjections filed by Hembe and Chris Azubuogu, the former deputy chairman of the committee, challenging their arraignment.The former Director-General of the Securities and Exchange Commission (SEC), Arunma Oteh, had alleged two suspects diverted of public funds amounting to 4,095 dollars The allegation led to their suspension from the committee.
They were to be arraigned by EFCC for converting 4,095 dollars about N600,000 givento them by SEC as travelling allowance for a conference in Dominican Republic in October 2011.
The EFCC said the offence was contrary to Section 308 of the Penal Code Act, Laws of the Federation of Nigeria, 2004 and attracted a jailterm of not less than seven years.
Umar had granted the EFCC permission to arraign Hembe and Azubuogu on May 10.
The suspects could not be arraigned on May 28 because the EFCC did not serve the proof ofevidence.
According to the suspects, the preliminary objection was not served on the anti graft agency.
Hembe's counsel, Jibrin Okutepa (SAN) in a preliminary objection, said that his client is challenging the jurisdiction of the court to entertain the charge.
Okutepa also said that the court lacked jurisdiction to hear the suit, because the allegation was still being investigated by the House of Representatives Committee on Ethicsand Privileges.
He argued that the counter-affidavit contained “extraneous facts’ and that the EFCC being a respondent in the suit was contrary to the Evidence Act.
"The prosecution is nothing but persecution and a waste of Nigeria’s public money," he said. "By virtue of Section 89 of the 1999 Constitution, it is the National Assembly that has the jurisdiction to investigate this matter.”
Azubuogu’s counsel, Linda Ikpeazu, argued that since the report of the committee investigating the allegation had not been released, it would not serve the cause of justice to try her client.
"There is a case of inadequacy of documents and so, there is no case for my client to answer to.
According to her, he sought to return the money through the Clerk of the House.
"It was the Director-General of SEC, who askedhim to keep the money. Since there will be another conference. The absence of the Director-General of SEC in this case exposes the complicity in it,” she said.
Citing Section 167 (b) of the Evidence Act, Ikpeazu submitted: "the prosecution is bound to produce all criminal documents to the courtto warrant trial.’’
Ojeffu Ibe, the EFCC counsel, urged the court to dismiss the objections and asked the court to establish whether the estacode was used for the purpose it was approved.
Ibe said that the 1999 Constitution only gave the National Assembly powers to legislate and not powers to investigate.
He argued that the accused persons should first take their plea on the alleged offence of criminal misappropriation.
Femgate vs Farougate
Since the bribery scandal that trailed the submission of the report of the House of Representatives oil subsidy committee broke out, a lot has been said about the infractions apparently committed by Hon. Farouk Lawan.
There appears a unanimity of opinion that the Representative has let down his admirers and probably detracted from the esteem in which the current 7th session of the House is held.
Seen as one of the pillars of the House and a key player in the emergence of Hon. Aminu Tambuwal as Speaker, many commentators have justifiably descended on Lawan, and the House has suffered collateral damage, especially as the scandal broke out soon after the Hembe-Oteh episode.
But, very few of us have looked intently into the Otedola side of the equation. While there is no doubt that Lawan cannot be exculpated, in the face of evidence and confession that he paid a visit to Otedola’s home and collected anunearned $620,000, it pays to realise that there are two sides to every equation.
Otedola lured Lawan to his Abuja home and enticed him to collect the dollars, marked or not. He claims that he was merely helping the law to catch up with an extortionist. The businessman insists that he did everything in collaboration with the Department of State Security and could therefore not be regarded as a crook.
Perhaps. However, there are so many things that do not add up in the Otedola story.
Apart from interacting with Lawan and the secretary of the committee, a civil servant, did the Chief Executive of Zenon Oil attempt to report the incident to the leadership of the House? Why did it take him a whole 40 days toblow open the deal? Lawan curiously succeeded in getting Otedola’s name removed from the list of oil subsidy beneficiaries who had done everything to bleed the economy. Yet, he got nailed by his friend and comrade.
My concern is that the episode has exposed the pretence of the private sector to probity and efficiency. The scams involving pension fund and oil subsidy have shown that the private sector is as rotten as the public sector, if not more so. The failed banks saga was another proof that the executives in the private sector are even more rapacious, mindless and corrupt as their contemporaries manning public corporations and agencies.
In fact, it would be difficult for those running affairs of the nation to defraud the country without the instigation and collaboration of those in industry and the financial system. This has been so since the days when portfolio-carrying men ran around ministries to procure import licences ostensibly to buy rice but ended up bringing in saw dust.
We wait to see what the aviation fund inquest would throw up. It is not too long ago that Madam Cecilia Ibru, in an ingenious manner, demonstrated that women could take as muchas men.
As much as 190 billion Naira belonging to a private bank was traced to her accounts and estate all over the world. Alongside others like her, she nearly collapsed the banking system.
Why then do we have to ascribe the collapse of the rail corporation, Nigeria Airways, Nigerian National Shipping Line, the Coal Corporation and other public concerns to the inability of government to run businesses?
Our problem is that the system tends to promote men and women who live by circumventing rules and regulations. Leeches and parasites run up the ladder to the top while those who mind the means are rooted atthe lower rungs.
Leaders of the private and public sectors thrive by exploring and exploiting loopholes inthe laws. There are very few exceptions.
Mr. Otedola started by denying that Zenon Oil was ever involved in importing PMS. He said the company had always limited itself to trading in diesel and kerosene. Later, in a paidadvertisement, he debunked the claim.
The facts published showed that he got paid for importing Premium Motor Spirit. He has been involved in ruthless competition with other business moguls in ways that could suggest that he detests any form of rivalry, even if healthy.
Meanwhile, not much is being said about the committees and task forces set up by the Minister of Petroleum Resources, the highly connected Mrs. Diezani Alison-Madueke in the wake of the frightening January oil subsidy protest in major cities.
The Peat Marwick audit report into the NNPC has also not seen the light of the day. It seemsonly the legislature is throwing some feeble jabs at corruption, what is our President and his executive council doing? All we hear from the executive chamber are announcement of new contracts. All motion, little movement. Wehave been told about investments in rail, but we see very little.
In Lagos where the tracks have been repaired and old coaches deployed to give the impression that something is in the offing, we appear condemned to using the same tracks that the colonial lords laid more than a century back. All other countries have since moved on, but our government is importing and adopting a discarded technology.
In all this, I know the Jonathan administration is unlikely to do much. If allowed, the government will keep snoring until 2015. A lot depends on we the people to force the officials on track. Otherwise, we are condemned to repeating the past.
There appears a unanimity of opinion that the Representative has let down his admirers and probably detracted from the esteem in which the current 7th session of the House is held.
Seen as one of the pillars of the House and a key player in the emergence of Hon. Aminu Tambuwal as Speaker, many commentators have justifiably descended on Lawan, and the House has suffered collateral damage, especially as the scandal broke out soon after the Hembe-Oteh episode.
But, very few of us have looked intently into the Otedola side of the equation. While there is no doubt that Lawan cannot be exculpated, in the face of evidence and confession that he paid a visit to Otedola’s home and collected anunearned $620,000, it pays to realise that there are two sides to every equation.
Otedola lured Lawan to his Abuja home and enticed him to collect the dollars, marked or not. He claims that he was merely helping the law to catch up with an extortionist. The businessman insists that he did everything in collaboration with the Department of State Security and could therefore not be regarded as a crook.
Perhaps. However, there are so many things that do not add up in the Otedola story.
Apart from interacting with Lawan and the secretary of the committee, a civil servant, did the Chief Executive of Zenon Oil attempt to report the incident to the leadership of the House? Why did it take him a whole 40 days toblow open the deal? Lawan curiously succeeded in getting Otedola’s name removed from the list of oil subsidy beneficiaries who had done everything to bleed the economy. Yet, he got nailed by his friend and comrade.
My concern is that the episode has exposed the pretence of the private sector to probity and efficiency. The scams involving pension fund and oil subsidy have shown that the private sector is as rotten as the public sector, if not more so. The failed banks saga was another proof that the executives in the private sector are even more rapacious, mindless and corrupt as their contemporaries manning public corporations and agencies.
In fact, it would be difficult for those running affairs of the nation to defraud the country without the instigation and collaboration of those in industry and the financial system. This has been so since the days when portfolio-carrying men ran around ministries to procure import licences ostensibly to buy rice but ended up bringing in saw dust.
We wait to see what the aviation fund inquest would throw up. It is not too long ago that Madam Cecilia Ibru, in an ingenious manner, demonstrated that women could take as muchas men.
As much as 190 billion Naira belonging to a private bank was traced to her accounts and estate all over the world. Alongside others like her, she nearly collapsed the banking system.
Why then do we have to ascribe the collapse of the rail corporation, Nigeria Airways, Nigerian National Shipping Line, the Coal Corporation and other public concerns to the inability of government to run businesses?
Our problem is that the system tends to promote men and women who live by circumventing rules and regulations. Leeches and parasites run up the ladder to the top while those who mind the means are rooted atthe lower rungs.
Leaders of the private and public sectors thrive by exploring and exploiting loopholes inthe laws. There are very few exceptions.
Mr. Otedola started by denying that Zenon Oil was ever involved in importing PMS. He said the company had always limited itself to trading in diesel and kerosene. Later, in a paidadvertisement, he debunked the claim.
The facts published showed that he got paid for importing Premium Motor Spirit. He has been involved in ruthless competition with other business moguls in ways that could suggest that he detests any form of rivalry, even if healthy.
Meanwhile, not much is being said about the committees and task forces set up by the Minister of Petroleum Resources, the highly connected Mrs. Diezani Alison-Madueke in the wake of the frightening January oil subsidy protest in major cities.
The Peat Marwick audit report into the NNPC has also not seen the light of the day. It seemsonly the legislature is throwing some feeble jabs at corruption, what is our President and his executive council doing? All we hear from the executive chamber are announcement of new contracts. All motion, little movement. Wehave been told about investments in rail, but we see very little.
In Lagos where the tracks have been repaired and old coaches deployed to give the impression that something is in the offing, we appear condemned to using the same tracks that the colonial lords laid more than a century back. All other countries have since moved on, but our government is importing and adopting a discarded technology.
In all this, I know the Jonathan administration is unlikely to do much. If allowed, the government will keep snoring until 2015. A lot depends on we the people to force the officials on track. Otherwise, we are condemned to repeating the past.
The fact is, I'm gay - Anderson Cooper
Anderson Cooper revealed on Monday that he is gay, ending years of reluctance to talk about his personal life in public.
The CNN journalist wrote in an online letter that he had kept his sexual orientation private for personal and professional reasons, but came to think that remaining silent had given some people a mistaken impression that he was ashamed.
"The fact is, I'm gay, always have been, always will be, and I couldn't be any more happy, comfortable with myself and proud," he wrote in the letter, published by Andrew Sullivan of the Daily Beast.
Cooper, the son of Gloria Vanderbilt, had long been the subject of rumors about his sexual orientation. He said that in a perfect world, it wouldn't be anyone's business, but that there is value in "standing up and being counted."
"I still consider myself a reserved person and Ihope this doesn't mean an end to a small amount of personal space," he wrote. "But I do think visibility is important, more important than preserving my reporter's shield of privacy."
CNN said it would not comment, and that Cooper was on assignment and there were no plans for Cooper to discuss it on the air.
Few national television news reporters have publicly acknowledged being gay, with MSNBC's Rachel Maddow and CNN's Don Lemon perhaps the best known.
Cooper's show, "Anderson Cooper 360," received an award this year from the Gay and Lesbian Alliance Against Defamation.
"Even prior to coming out publicly, Anderson'sterrific work has raised awareness of inequalities facing LGBT people, said GLAAD President Herndon Graddick. "He's a role model to millions and now will inspire countless others."
The CNN journalist wrote in an online letter that he had kept his sexual orientation private for personal and professional reasons, but came to think that remaining silent had given some people a mistaken impression that he was ashamed.
"The fact is, I'm gay, always have been, always will be, and I couldn't be any more happy, comfortable with myself and proud," he wrote in the letter, published by Andrew Sullivan of the Daily Beast.
Cooper, the son of Gloria Vanderbilt, had long been the subject of rumors about his sexual orientation. He said that in a perfect world, it wouldn't be anyone's business, but that there is value in "standing up and being counted."
"I still consider myself a reserved person and Ihope this doesn't mean an end to a small amount of personal space," he wrote. "But I do think visibility is important, more important than preserving my reporter's shield of privacy."
CNN said it would not comment, and that Cooper was on assignment and there were no plans for Cooper to discuss it on the air.
Few national television news reporters have publicly acknowledged being gay, with MSNBC's Rachel Maddow and CNN's Don Lemon perhaps the best known.
Cooper's show, "Anderson Cooper 360," received an award this year from the Gay and Lesbian Alliance Against Defamation.
"Even prior to coming out publicly, Anderson'sterrific work has raised awareness of inequalities facing LGBT people, said GLAAD President Herndon Graddick. "He's a role model to millions and now will inspire countless others."
Security beefed up at Gombe NYSCcamp
Mallamsidi - Security has been beefed up at the National Youth Service Corps (NYSC) camp in Gombe, as some of the more than 2,050 Batch `B’ corps members begin to report in camp.
Mr Manesah Igyuse, the Gombe State Coordinator of the NYSC, disclosed this on Monday in an interview in Mallamsidi, headquarters of the Kwami Local Government area.
He said the state government was doing everything possible to ensure that those posted to the state for the orientation exercise, were secured.
“The military have been moved into the camp with their armoured tank and are combat ready, so nobody will even attempt to come and attack it.
“More soldiers and policemen have also been drafted to boost security in the camp,’’ he said.
Tthe Batch `B’ corps members started arrivingin the camp for orientation exercise on Monday.
Igyuse assured them of adequate security, saying that as far as the state was concerned, they had no problem with their safety.
About 1,007 corps members participated in the Batch `B’ orientation exercise in 2011.
The 445 Batch `A’ corps members, who servedin the state passed out recently.
Mr Manesah Igyuse, the Gombe State Coordinator of the NYSC, disclosed this on Monday in an interview in Mallamsidi, headquarters of the Kwami Local Government area.
He said the state government was doing everything possible to ensure that those posted to the state for the orientation exercise, were secured.
“The military have been moved into the camp with their armoured tank and are combat ready, so nobody will even attempt to come and attack it.
“More soldiers and policemen have also been drafted to boost security in the camp,’’ he said.
Tthe Batch `B’ corps members started arrivingin the camp for orientation exercise on Monday.
Igyuse assured them of adequate security, saying that as far as the state was concerned, they had no problem with their safety.
About 1,007 corps members participated in the Batch `B’ orientation exercise in 2011.
The 445 Batch `A’ corps members, who servedin the state passed out recently.
Drake booed at BET awards night
After years of being the most unpopular star in the music business it seems that Chris Brown may have finally been forgiven after he assaulted Rihanna in 2009, with fans siding with the 'Run It' star over his June 14 brawl with Drake in New York. At the BET Awards in Los Angeles last night. (July 1)
Chris was not only awarded Best Male R&B Artist but also performed on the night and waswarmly welcomed by the crowd. The atmosphere was completely different when Drake's name, who won Best Hip Hop artist was mentioned.
The 'Take Care' star was not there on the night but just the mere mention of his name causedtension backstage and amongst Brown's entourage who were involved in a scuffle at the W.i.P nightclub in New York last month.
“Everytime MC Lyte mentions that pu**y a** Drake’s name, this whole f***ing place is filledwith boos,” a source told HollywoodLife.
It wasn't just Brown's people who were booing, but also people in the audience. Boos were usually reserved for Chris Brown, but now there seems to be someone in the music business even more unpopular than him.
Drake has been widely identified as the person who started the fight two weeks ago, which left several innocent club goers in hospital with severe wounds.
Brown's career was believed to be over after he admitted assaulting then girlfriend Rihannafollowing a pre-Grammy party in 2009. Despitesome still hostile towards the star, he has managed to a land a string of hits and even picked up a Grammy Award this year.
Chris was not only awarded Best Male R&B Artist but also performed on the night and waswarmly welcomed by the crowd. The atmosphere was completely different when Drake's name, who won Best Hip Hop artist was mentioned.
The 'Take Care' star was not there on the night but just the mere mention of his name causedtension backstage and amongst Brown's entourage who were involved in a scuffle at the W.i.P nightclub in New York last month.
“Everytime MC Lyte mentions that pu**y a** Drake’s name, this whole f***ing place is filledwith boos,” a source told HollywoodLife.
It wasn't just Brown's people who were booing, but also people in the audience. Boos were usually reserved for Chris Brown, but now there seems to be someone in the music business even more unpopular than him.
Drake has been widely identified as the person who started the fight two weeks ago, which left several innocent club goers in hospital with severe wounds.
Brown's career was believed to be over after he admitted assaulting then girlfriend Rihannafollowing a pre-Grammy party in 2009. Despitesome still hostile towards the star, he has managed to a land a string of hits and even picked up a Grammy Award this year.
Apple pays $60m to settle China iPad trademark dispute
(Reuters) - Apple Inc has paid $60 million toProview Technology (Shenzhen) to end a protracted legal dispute over the iPad trademark in China.
The lawsuit had hampered some sales and delayed the introduction of the new iPad in China. Prior to the launch, Proview requested authorities in scores of Chinese cities to order resellers to take all iPads off their shelves.
The court-mediated settlement, announced onthe website of the Higher People's Court of Guangdong province, will allow Apple to get on with selling its popular tablet PC in one of its most important markets, analysts said.
"The settlement is great news for Apple," said Teck-Zhung Wong, a Beijing-based analyst withtechnology research firm IDC. "It just allows them to get on with business and stop being distracted. The new iPad has been so late to the China market that if they drag it any longer, Apple will stand to lose quite a bit more."
China is a key growth area for Apple, and ChiefExecutive Tim Cook has often said that the company has only scratched the surface in theregion.
Sales in greater China - mainland China, Hong Kong and Taiwan - increased threefold to $7.9 billion in the second quarter ended on March 31, accounting for about 20 percent of Apple's$39.2 billion in revenue.
The settlement with Proview paves the way to spark iPad sales for the September quarter, Topeka Capital Markets analyst Brian White said.
"Apple lifted its two-iPad-per-shopper policy inHong Kong in what we believe may have been driven by demand from mainland China as many Apple products make their way over to the mainland," he said. "Today's iPad settlement is important and opens up the sale of the new iPad."
The company and Proview, a unit of Hong Kong-listed Proview International Holdings Ltd, have been negotiating to reach a settlement since the court conducted an initial hearing in February, after Apple appealed a lower court ruling against it.
Apple had said it bought ownership of the iPadtrademark in various countries from Proview, once a global monitor maker. But the Chinese company said Apple dealt with only one unit of Proview.
A Chinese court ruled that Proview Technology(Shenzhen) owned the name in China. Proview, which registered the iPad trademark in China in 2001, tried in May to sue Apple in the United States, but that case was thrown out.
Apple can afford the $60 million extra price tag on the trademark, given its more than$100 billion in cash and securities.
An Apple spokeswoman declined to comment on Monday.
Shares of Apple were up 1.3 percent at$591.59 in afternoon trading.
The iPad dominates China's tablet PC market with more than 70 percent market share, but Lenovo Group Ltd's Lepads and Samsung Electronics Co Ltd's Galaxy Tabs have been gaining traction.
From the introduction of the iPad in the third quarter of 2010 to March this year, Apple shipped more than 6 million iPads to mainland China, according to IDC.
Proview - which local media had said was seeking as much as 10 billion yuan ($1.57 billion) from Apple - and its creditors should welcome the settlement, some lawyers said.
The $60 million will go into a court-designated account and be used to pay Proview's creditors, said a source familiar with the situation. In March, Taiwan's Fubon Insurance,one of several creditors and a unit of Fubon Financial Holding Co Ltd, applied for bankruptcy proceedings against Proview because of $8.68 million in outstanding debt.
"The settlement fee is not bad for Proview, because although Proview owns the trademark, it was Apple, not Proview, who created the brand's value," said Chen Jihong, aBeijing-based intellectual property rights lawyer at Zhong Lun Law Firm.
The lawsuit had hampered some sales and delayed the introduction of the new iPad in China. Prior to the launch, Proview requested authorities in scores of Chinese cities to order resellers to take all iPads off their shelves.
The court-mediated settlement, announced onthe website of the Higher People's Court of Guangdong province, will allow Apple to get on with selling its popular tablet PC in one of its most important markets, analysts said.
"The settlement is great news for Apple," said Teck-Zhung Wong, a Beijing-based analyst withtechnology research firm IDC. "It just allows them to get on with business and stop being distracted. The new iPad has been so late to the China market that if they drag it any longer, Apple will stand to lose quite a bit more."
China is a key growth area for Apple, and ChiefExecutive Tim Cook has often said that the company has only scratched the surface in theregion.
Sales in greater China - mainland China, Hong Kong and Taiwan - increased threefold to $7.9 billion in the second quarter ended on March 31, accounting for about 20 percent of Apple's$39.2 billion in revenue.
The settlement with Proview paves the way to spark iPad sales for the September quarter, Topeka Capital Markets analyst Brian White said.
"Apple lifted its two-iPad-per-shopper policy inHong Kong in what we believe may have been driven by demand from mainland China as many Apple products make their way over to the mainland," he said. "Today's iPad settlement is important and opens up the sale of the new iPad."
The company and Proview, a unit of Hong Kong-listed Proview International Holdings Ltd, have been negotiating to reach a settlement since the court conducted an initial hearing in February, after Apple appealed a lower court ruling against it.
Apple had said it bought ownership of the iPadtrademark in various countries from Proview, once a global monitor maker. But the Chinese company said Apple dealt with only one unit of Proview.
A Chinese court ruled that Proview Technology(Shenzhen) owned the name in China. Proview, which registered the iPad trademark in China in 2001, tried in May to sue Apple in the United States, but that case was thrown out.
Apple can afford the $60 million extra price tag on the trademark, given its more than$100 billion in cash and securities.
An Apple spokeswoman declined to comment on Monday.
Shares of Apple were up 1.3 percent at$591.59 in afternoon trading.
The iPad dominates China's tablet PC market with more than 70 percent market share, but Lenovo Group Ltd's Lepads and Samsung Electronics Co Ltd's Galaxy Tabs have been gaining traction.
From the introduction of the iPad in the third quarter of 2010 to March this year, Apple shipped more than 6 million iPads to mainland China, according to IDC.
Proview - which local media had said was seeking as much as 10 billion yuan ($1.57 billion) from Apple - and its creditors should welcome the settlement, some lawyers said.
The $60 million will go into a court-designated account and be used to pay Proview's creditors, said a source familiar with the situation. In March, Taiwan's Fubon Insurance,one of several creditors and a unit of Fubon Financial Holding Co Ltd, applied for bankruptcy proceedings against Proview because of $8.68 million in outstanding debt.
"The settlement fee is not bad for Proview, because although Proview owns the trademark, it was Apple, not Proview, who created the brand's value," said Chen Jihong, aBeijing-based intellectual property rights lawyer at Zhong Lun Law Firm.
Euro 2012 team of the year
Spain's Andres Iniesta has been named the best player at Euro 2012 by UEFA, hours after his man-of-the-match performance in the final.
The Barcelona midfielder was selected by Uefaafter helping Spain beat Italy 4-0 in Sunday's final.
Uefa praised Iniesta for his "creativity, incisive football and humility". He played every game for Spain in the tournament.
He was one of 10 Spanish players in Uefa's 23-man team of the tournament, with Steven Gerrard the only England player to make the selection.
"Gerrard played really, really well and showedgreat leadership qualities," a Uefa boss said.
Liverpool midfielder Gerrard and Sweden striker Zlatan Ibrahimovic were the only selections in the team of the tournament fromsides that did not reach the semi-finals.
Others to be recognised for their performances in Poland and Ukraine include Italy's Andrea Pirlo, and Portugal winger Cristiano Ronaldo.
Euro 2012 team of the tournament:
Goalkeepers: Gianluigi Buffon (Ita), Iker Casillas (Spa), Manuel Neuer (Ger)
Defenders: Gerard Pique (Spa), Fabio Coentrao (Por), Philipp Lahm (Ger), Pepe (Por), Sergio Ramos (Spa), Jordi Alba (Spa)
Midfielders: Daniele De Rossi (Ita), Steven Gerrard (Eng), Xavi (Spa), Andres Iniesta (Spa), Sami Khedira (Ger), Sergio Busquets (Spa), Mesut Ozil (Ger), Andrea Pirlo (Ita), Xabi Alonso (Spa)
Forwards: Mario Balotelli (Ita), Cesc Fabregas (Spa), Cristiano Ronaldo (Por), Zlatan Ibrahimovic (Swe), David Silva (Spa)
The Barcelona midfielder was selected by Uefaafter helping Spain beat Italy 4-0 in Sunday's final.
Uefa praised Iniesta for his "creativity, incisive football and humility". He played every game for Spain in the tournament.
He was one of 10 Spanish players in Uefa's 23-man team of the tournament, with Steven Gerrard the only England player to make the selection.
"Gerrard played really, really well and showedgreat leadership qualities," a Uefa boss said.
Liverpool midfielder Gerrard and Sweden striker Zlatan Ibrahimovic were the only selections in the team of the tournament fromsides that did not reach the semi-finals.
Others to be recognised for their performances in Poland and Ukraine include Italy's Andrea Pirlo, and Portugal winger Cristiano Ronaldo.
Euro 2012 team of the tournament:
Goalkeepers: Gianluigi Buffon (Ita), Iker Casillas (Spa), Manuel Neuer (Ger)
Defenders: Gerard Pique (Spa), Fabio Coentrao (Por), Philipp Lahm (Ger), Pepe (Por), Sergio Ramos (Spa), Jordi Alba (Spa)
Midfielders: Daniele De Rossi (Ita), Steven Gerrard (Eng), Xavi (Spa), Andres Iniesta (Spa), Sami Khedira (Ger), Sergio Busquets (Spa), Mesut Ozil (Ger), Andrea Pirlo (Ita), Xabi Alonso (Spa)
Forwards: Mario Balotelli (Ita), Cesc Fabregas (Spa), Cristiano Ronaldo (Por), Zlatan Ibrahimovic (Swe), David Silva (Spa)
Singer Adele confirms she's pregnant
British recording star Adele announced on her Web site Friday she is pregnant with her first child.
"I'm delighted to announce that Simon and I are expecting our first child together," Adele said in a posting under the heading, "I've Got Some News."
"I wanted you to hear the news direct from me, obviously we're over the moon and very excited but please respect our privacy at this precious time. Yours always, Adele xx"
The singer-songwriter did not say when she is due to give birth or what the baby's gender is.
People.com said Adele, 24, was first photographed with boyfriend Simon Konecki, 38, in January.
"I'm delighted to announce that Simon and I are expecting our first child together," Adele said in a posting under the heading, "I've Got Some News."
"I wanted you to hear the news direct from me, obviously we're over the moon and very excited but please respect our privacy at this precious time. Yours always, Adele xx"
The singer-songwriter did not say when she is due to give birth or what the baby's gender is.
People.com said Adele, 24, was first photographed with boyfriend Simon Konecki, 38, in January.
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