Friday, July 31, 2015
President Buhari's Achievement In Two Months
Having been sworn in on May 29, 2015, President Buhari has completed two months at the helms of affairs of our nation. As short as this period seems, it's important to take a critical and unbiased look at what the PMB/VPYO presidency has been able to achieved or failed to achieve.
Thursday, June 18, 2015
Happy Ramadan!
The moon was sighted yesterday, and it ushered us to the create month of Ramadan,the month all Muslims fast for at least 29 days and at most 30 days. In this period all Muslims are expected to go closer to their creator through sincere worship, recitation of the glorious Qur'an and to avoid all forms of sins.
In this month i beg all Muslims to pray mr president to carry out all he and his team have promised Nigerians, pray for the peaceful coexistence of the inhabitants of this great country. Happy Ramadan!
Please don't hesitate to share this message. Thanks.
In this month i beg all Muslims to pray mr president to carry out all he and his team have promised Nigerians, pray for the peaceful coexistence of the inhabitants of this great country. Happy Ramadan!
Please don't hesitate to share this message. Thanks.
Monday, May 25, 2015
10 Fuel Saving Tips Every Driver Should Know Today!!! by tonychristopher(m): 10:01am
1. Make fewer trips
Did you know that when you drive a car that has been parked for a few hours, the engine is cold and it uses much more fuel for the first five miles or so? Ideally you'd combine all your daily errands into one big trip. Often that's not possible if you have to pop out during the day to drop off and collect the family, but try not to go out separately to do the supermarket shop or buy a newspaper.
2. Don't drive in the rush hour
There are few worse places to spend your time than stuck in a traffic jam, but it's also a very expensive way of travelling. Every time that you stop and start in traffic, your car needs first gear and a huge amount of fuel to get moving again. Second gear is not much better. The best solution is to not travel during the rush hour. You can also save some fuel by trying to understand what the traffic is doing in front of you, and travelling steadily at a slow speed, rather than accelerating and braking. If you have to travel in rush hour a lot, then you could consider buying a hybrid car, which uses much less fuel in town than a normal petrol or diesel.
3. Close the windows (and sunroof, if you've got one)
It's not so much of a problem when you're driving in town (see above), but when you're out of town or on the motorway and moving more quickly, the shape of your car is very important. Car designers call it aerodynamics and make lots of effort to reduce the 'drag' and make the car as sleek as possible. Anything that makes wind noise as your car goes along is actually making your car more expensive to run. You can't do much about the design of your car, but you can avoid making it worse by not leaving the windows and sunroof open. It's better to use the air vents for most of the year, and the air-conditioning when it gets too hot.
4. Remove the roof rack or ski box
This is just like leaving the windows open, but worse. Even if the roof rack is empty, it increases drag and makes your car use more fuel, while a big ski box is like having another car strapped to your roof. The latest roof racks and ski boxes are quick and easy to fit and remove, so make the effort to stow them away when you're not using them.
5. Don't carry round unnecessary weight
Just like your body, your car needs more fuel to move around more weight. So, just as you wouldn't wear a heavy rucksack unless you had to, don't cart stuff around in the boot of your car unless you need it. Ironically, the heavier the item (the usual culprits are golf clubs and trolleys), the less likely you are to bother taking it out of the boot and the greater the effect it will have on your fuel consumption.
6. Accelerate smoothly
The perfect way to travel is at a constant speed (ideally around 50mph), and in the highest gear (five or six). So if you're a patient driver, you'll have lower fuel bills - it's as simple as that. It's unrealistic to avoid overtaking, but there's little point accelerating past a car to simply be in front of it at the next set of lights - any instant gratification will appear on your fuel bill the next time you fill up.
7. Don't push the accelerator down too far
This one always surprises people. It's not just to do with what gear you're in. You may be in a high gear and travelling at a sensible speed, but if you're pushing the accelerator down a long way to avoid changing into a lower gear (into third from fourth, for example), then you're actually using more fuel not less. Obviously, if your car has an automatic gearbox (you'll know if it does), then it will probably do a better job than you of choosing which gear to be in, so it's not a problem.
8. Turn the air-conditioning off
It's tempting to leave the air-con on the whole year round. It stops the windows misting up in the winter and you don't ever need to think about the temperature inside the car, but it uses quite a bit of fuel, so we'd advise you turn it off when it's not hot (on most cars the button has a snowflake symbol).
9. Stick to the speed limit
If you ignored the law, you could shave a bit of time off your journey by travelling above the speed limit, particularly on long motorway trips. But, although you might arrive about 20 minutes early on a 200-mile trip by travelling at 80mph instead of 70mph, it's also a false economy. While the car is running for 20 minutes less, it uses much more fuel when it is travelling. That 20 minutes could cost you up to £7 extra in fuel.
10. Check your tyre pressures regularly
The lower the tyre pressure, the more fuel the car needs to move it down the road. We recommend that you take five minutes every fortnight to check the tyres. If you're not sure what the pressure should be, you can normally find the figures near the lock inside the driver's door.
Fuel economy is an important factor when buying a car. As a rule, small cars are generally more economical in town and bigger diesel family cars are more economical on the motorway. We've put together a list of cars that are cheap to run, as well as cars that fit other criteria that you've told us are important, such as easy to park and good for families.
SOURCE. http://www.nairaland.com/
Did you know that when you drive a car that has been parked for a few hours, the engine is cold and it uses much more fuel for the first five miles or so? Ideally you'd combine all your daily errands into one big trip. Often that's not possible if you have to pop out during the day to drop off and collect the family, but try not to go out separately to do the supermarket shop or buy a newspaper.
2. Don't drive in the rush hour
There are few worse places to spend your time than stuck in a traffic jam, but it's also a very expensive way of travelling. Every time that you stop and start in traffic, your car needs first gear and a huge amount of fuel to get moving again. Second gear is not much better. The best solution is to not travel during the rush hour. You can also save some fuel by trying to understand what the traffic is doing in front of you, and travelling steadily at a slow speed, rather than accelerating and braking. If you have to travel in rush hour a lot, then you could consider buying a hybrid car, which uses much less fuel in town than a normal petrol or diesel.
3. Close the windows (and sunroof, if you've got one)
It's not so much of a problem when you're driving in town (see above), but when you're out of town or on the motorway and moving more quickly, the shape of your car is very important. Car designers call it aerodynamics and make lots of effort to reduce the 'drag' and make the car as sleek as possible. Anything that makes wind noise as your car goes along is actually making your car more expensive to run. You can't do much about the design of your car, but you can avoid making it worse by not leaving the windows and sunroof open. It's better to use the air vents for most of the year, and the air-conditioning when it gets too hot.
4. Remove the roof rack or ski box
This is just like leaving the windows open, but worse. Even if the roof rack is empty, it increases drag and makes your car use more fuel, while a big ski box is like having another car strapped to your roof. The latest roof racks and ski boxes are quick and easy to fit and remove, so make the effort to stow them away when you're not using them.
5. Don't carry round unnecessary weight
Just like your body, your car needs more fuel to move around more weight. So, just as you wouldn't wear a heavy rucksack unless you had to, don't cart stuff around in the boot of your car unless you need it. Ironically, the heavier the item (the usual culprits are golf clubs and trolleys), the less likely you are to bother taking it out of the boot and the greater the effect it will have on your fuel consumption.
6. Accelerate smoothly
The perfect way to travel is at a constant speed (ideally around 50mph), and in the highest gear (five or six). So if you're a patient driver, you'll have lower fuel bills - it's as simple as that. It's unrealistic to avoid overtaking, but there's little point accelerating past a car to simply be in front of it at the next set of lights - any instant gratification will appear on your fuel bill the next time you fill up.
7. Don't push the accelerator down too far
This one always surprises people. It's not just to do with what gear you're in. You may be in a high gear and travelling at a sensible speed, but if you're pushing the accelerator down a long way to avoid changing into a lower gear (into third from fourth, for example), then you're actually using more fuel not less. Obviously, if your car has an automatic gearbox (you'll know if it does), then it will probably do a better job than you of choosing which gear to be in, so it's not a problem.
8. Turn the air-conditioning off
It's tempting to leave the air-con on the whole year round. It stops the windows misting up in the winter and you don't ever need to think about the temperature inside the car, but it uses quite a bit of fuel, so we'd advise you turn it off when it's not hot (on most cars the button has a snowflake symbol).
9. Stick to the speed limit
If you ignored the law, you could shave a bit of time off your journey by travelling above the speed limit, particularly on long motorway trips. But, although you might arrive about 20 minutes early on a 200-mile trip by travelling at 80mph instead of 70mph, it's also a false economy. While the car is running for 20 minutes less, it uses much more fuel when it is travelling. That 20 minutes could cost you up to £7 extra in fuel.
10. Check your tyre pressures regularly
The lower the tyre pressure, the more fuel the car needs to move it down the road. We recommend that you take five minutes every fortnight to check the tyres. If you're not sure what the pressure should be, you can normally find the figures near the lock inside the driver's door.
Fuel economy is an important factor when buying a car. As a rule, small cars are generally more economical in town and bigger diesel family cars are more economical on the motorway. We've put together a list of cars that are cheap to run, as well as cars that fit other criteria that you've told us are important, such as easy to park and good for families.
SOURCE. http://www.nairaland.com/
Thursday, May 14, 2015
Who can do this for his friend?
Suge Knight
I Got My Mind Made Up
Don't Remove My Tupac Bullet!
5/14/2015 1:00 AM PDT BY TMZ STAFF
EXCLUSIVE
Suge Knight has given doctor's a piece of his mind ... refusing to have a bullet fragment removed that’s been lodged in his head for the past 19 years ... a bullet intended for Tupac Shakur.
Rewind to 1996 … Knight infamously drove the car carrying Tupac the night of the rap legend’s drive-by murder off the Las Vegas strip.
One of the bullets missed Tupac but grazed Suge's head, and a fragment lodged in his skull, and was never removed.
Here's the problem. Suge's in bad shape as he lingers in a jail cell, and doctors want to perform an MRI so they can figure out why he keeps passing out. But the bullet fragment causes interference with the machine, so doctors want to remove it.
Suge’s attorney, Matthew Fletcher, tells us Knight thinks he'll die if doctors start screwing with his head and try to remove the fragment, especially given his fragile state.
Aside from medical concerns, you gotta admit ... how cool is it to have a Tupac bullet in your head?
Read more: http://www.tmz.com/2015/05/14/suge-knight-bullet-head-health-mri-doesnt-want-removed-jail/#ixzz3a6ZPKsHY
Buhari Plans Special Courts For Corruption by PassingShot(m): 9:21am
Special courts to prosecute sundry tax evasion cases and official graft are to be set up by President- elect, Gen. Muhammadu Buhari (rtd), it was gathered yesterday.
The courts, which will be in the Federal Capital Territory, would deal strictly with corruption and tax evasion offences by companies, individuals and government officials.
The courts are expected to lift the burden of excruciating and delayed trials of offenders by regular courts so that the next government can get fast results in its avowed war against corruption.
Chairman of the Anti- Money Laundering and Cyber Security Coalition at the National Assembly, Senator Aloysius Etok, disclosed yesterday that the coalition of senators and members of the House of Representatives had already got the nod of the President-elect to set up the courts.
Etok expressed optimism that the courts, when established, will take off the burden of such cases from the regular courts and give them accelerated hearing.
“We are confident that these courts will give accelerated hearing to tax evasion cases and other cases bothering on corruption,” he said.
Senator Etok disclosed that the National Assembly is probing about 115 tax offenders.
Besides, the lawmaker also revealed that senators in the course of investigations found that about 50 contracting firms working with the Federal Ministry of Works operate with forged tax certificates.
Among the companies that may come under the hammer of the National Assembly for tax evasion amounting to billions of Naira, according to the committee and the ICPC, are Arab Contractors, Septa Energy, Tower Aluminum, B. Stabilini and 112 others.
Etok also disclosed that the legislature was pushing for the prosecution of companies with high rate of casualised workers and fraudulent expatriate quota practices.
The lawmaker warned that with sustained evasion of taxes by companies, agencies like the Universal Basic Education Commission, UBEC, Tertiary Education Trust Fund, TETFUND, Niger Delta Development Commission, NDDC, would fold up, as according to him, the agencies depend on taxes for survival.
The ICPC, in a document submitted to the Senate, stated that: “In view of the Financial Intelligence analysis carried out by the commission on the plethora of petitions received on issues bothering on Tax Clearance Certificates scam, investigation led to the uncovering of tax evasion, nonpayment of Capital Gains Taxes, nonremittance of Withholding Tax and Value Added Tax, VAT.”
The commission regretted the serial breach of the procurement process with the collaboration of procurement officers.
“Procurement is an area that has long been recognised as being particularly vulnerable to corruption because public procurement through government contracting represents a substantial percentage of the economy,” the document stated.
Meanwhile, former British Prime Minister, Mr. Tony Blair, yesterday visited General Buhari and assured him of the support and cooperation of the international community.
He stated that the entire world was excited with the outcome of the March 28, 2015 presidential election in the country.
Blair explained that the global support was predicated on the belief that the President-elect and his vice are determined to do their best for the country.
According to him, Nigeria has earned the respect of the international community because of the way the elections were conducted without rancour.
In an opening speech before the duo retired into a closed-door meeting, Blair said: “In the last few weeks, Nigeria has earned respect throughout the whole world. There is enormous support for Nigeria now in the international community. The support takes into consideration the challenges that lie ahead and there is great confidence in the country.
“This is an election which took place in a way which the country showed the majority of democracies the spirit and character of its people and in the President- elect and Vice President- elect; it is a leadership that I know is determined to do its best for the country.
“Obviously, the future and destiny of Nigeria lie in the hands of its people. I just want to say to the President-elect that there is tremendous support for you and the country at this moment and all of us, in whatever way we can, stand ready to support you and help you.
“It is a moment of great challenges which bothers on the life of the people as well as their security and so on.
“If the same spirit and character that defined the election can be taken through these coming years to address the challenges, I think we can all have great confidence in the times ahead.”
Buhari who later briefed the press on the outcome of the parley said: “We had a meeting and discussed how Britain and the United States were helping us in making sure that we conducted ourselves according to our constitution.
“The fact that it (election) has been so successful is a major relief for us and to all people of conscience throughout the world.
“I thank the former British Prime Minister for his concern for Nigeria and Nigerians, in what he is prepared to do by continuing to help us as a country and as a people.”
SOURCE:http://nationalmirroronline.net/new/buhari-plans-special-court-for-corruption/
The courts, which will be in the Federal Capital Territory, would deal strictly with corruption and tax evasion offences by companies, individuals and government officials.
The courts are expected to lift the burden of excruciating and delayed trials of offenders by regular courts so that the next government can get fast results in its avowed war against corruption.
Chairman of the Anti- Money Laundering and Cyber Security Coalition at the National Assembly, Senator Aloysius Etok, disclosed yesterday that the coalition of senators and members of the House of Representatives had already got the nod of the President-elect to set up the courts.
Etok expressed optimism that the courts, when established, will take off the burden of such cases from the regular courts and give them accelerated hearing.
“We are confident that these courts will give accelerated hearing to tax evasion cases and other cases bothering on corruption,” he said.
Senator Etok disclosed that the National Assembly is probing about 115 tax offenders.
Besides, the lawmaker also revealed that senators in the course of investigations found that about 50 contracting firms working with the Federal Ministry of Works operate with forged tax certificates.
Among the companies that may come under the hammer of the National Assembly for tax evasion amounting to billions of Naira, according to the committee and the ICPC, are Arab Contractors, Septa Energy, Tower Aluminum, B. Stabilini and 112 others.
Etok also disclosed that the legislature was pushing for the prosecution of companies with high rate of casualised workers and fraudulent expatriate quota practices.
The lawmaker warned that with sustained evasion of taxes by companies, agencies like the Universal Basic Education Commission, UBEC, Tertiary Education Trust Fund, TETFUND, Niger Delta Development Commission, NDDC, would fold up, as according to him, the agencies depend on taxes for survival.
The ICPC, in a document submitted to the Senate, stated that: “In view of the Financial Intelligence analysis carried out by the commission on the plethora of petitions received on issues bothering on Tax Clearance Certificates scam, investigation led to the uncovering of tax evasion, nonpayment of Capital Gains Taxes, nonremittance of Withholding Tax and Value Added Tax, VAT.”
The commission regretted the serial breach of the procurement process with the collaboration of procurement officers.
“Procurement is an area that has long been recognised as being particularly vulnerable to corruption because public procurement through government contracting represents a substantial percentage of the economy,” the document stated.
Meanwhile, former British Prime Minister, Mr. Tony Blair, yesterday visited General Buhari and assured him of the support and cooperation of the international community.
He stated that the entire world was excited with the outcome of the March 28, 2015 presidential election in the country.
Blair explained that the global support was predicated on the belief that the President-elect and his vice are determined to do their best for the country.
According to him, Nigeria has earned the respect of the international community because of the way the elections were conducted without rancour.
In an opening speech before the duo retired into a closed-door meeting, Blair said: “In the last few weeks, Nigeria has earned respect throughout the whole world. There is enormous support for Nigeria now in the international community. The support takes into consideration the challenges that lie ahead and there is great confidence in the country.
“This is an election which took place in a way which the country showed the majority of democracies the spirit and character of its people and in the President- elect and Vice President- elect; it is a leadership that I know is determined to do its best for the country.
“Obviously, the future and destiny of Nigeria lie in the hands of its people. I just want to say to the President-elect that there is tremendous support for you and the country at this moment and all of us, in whatever way we can, stand ready to support you and help you.
“It is a moment of great challenges which bothers on the life of the people as well as their security and so on.
“If the same spirit and character that defined the election can be taken through these coming years to address the challenges, I think we can all have great confidence in the times ahead.”
Buhari who later briefed the press on the outcome of the parley said: “We had a meeting and discussed how Britain and the United States were helping us in making sure that we conducted ourselves according to our constitution.
“The fact that it (election) has been so successful is a major relief for us and to all people of conscience throughout the world.
“I thank the former British Prime Minister for his concern for Nigeria and Nigerians, in what he is prepared to do by continuing to help us as a country and as a people.”
SOURCE:http://nationalmirroronline.net/new/buhari-plans-special-court-for-corruption/
Pastor Treks From Benin City To Abuja For Buhari [PHOTOS] by MaxNaija: 9:01am
Too much of everything is bad,what do all this trekkers really want? Another man have started trekking for Gen. Muhammadu Buhari. Pastor Hitman Abaye Ozabor, the man who last Saturday took to trekking from Benin City to Abuja following the victory of Muhammadu Buhari as President-elect has been sighted in Okpella, Etsako East Local Government Area, Edo State.
Maxnaija gathered that Pastor Hitman vowed to complete his journey to Abuja to congratulate the incoming president, he also highlighted some of the challenges he has encountered so far as he looks to complete this denting task. He also stated that if he's not able to complete the journey in time, he will however trek to Duara, the hometown of Gen. Buhari to meet and discuss the way forward of Nigeria with him. See more photos below ; Source - http://www.maxnaija.com/2015/05/pastor-treks-from-benin-city-to-abuja.html  |
| Re: Pastor Treks From Benin City To Abuja For Buhari [PHOTOS] by MaxNaija: 9:03am |
Copyright 2015 Maxnaija. Permission to use quotations from this article is granted subject to appropriate credit being given to www.MaxNaija.com as the source.
|
Tuesday, May 12, 2015
Could this be love?
Father kills daughter, wife and sister – explains why on Facebook
A father has seemingly admitted killing his daughter, wife and sister by explaining why he shot them on Facebook.
Randy Janzen said he killed 19-year-old daughter Emily because she suffered
from excruciating migranes, which he said had ruined her life and made her depressed
from excruciating migranes, which he said had ruined her life and made her depressed
may their soul rest in peace.
NDIC Drags Doyin Okupe To Court Over Unpaid Debt
The Nigerian Deposit Insurance Corporation, (NDIC), Liquidator of Gulf bank Nigeria Plc in a debt recovery suit before a Federal High Court in Lagos, against the Senior Special Assistant to President Goodluck Jonathan, Dr. Doyin Okupe and two others filed an application to place the suit on an undefended list. Joined as Okupe’s co-defendants in the suit are an investment company, Value Trust Investment Limited, and a Director of the company Mr. Ray Ahazie. NDIC is claiming Okupe, who is the chairman of the company and other defendants owe the sum of N34,168,064.51. as outstanding balance of a loan they took from liquidated Gulf bank Plc.
NDIC is also claiming the interest on the said sum at the rate of 21 per cent per annum from May 2007, until the final liquidation of the said sum.
NDIC in its statement of claim filed before the court on the 10 July 2007 by its lawyer, Dr. I. Abiodun Layonu, stated that the defendants was granted a credit facility in October 2000, by Gulf Bank Plc, to finance the importation of 10,000 metric tones of rice for onward delivery to the Balyesa state government in the sum of N448, 000.00, vide an offer letter dated 27 October 2000, and that the terms and conditions of the offers and acceptance were later formalized in a memorandum of agreement duly signed and stamped by the bank and defendants. The plaintiff stated that in securing the facility granted the defendants, the Balyesa state government through its banker, Society Generale Bank granted a bank guarantee in contract sum of N500 million in favour of Gulf Bank and in further securing the facility, the Investment company’s directors, Dr. Okupe and Ahaze, entered into joint and several guarantee to pay full amount granted in favour of the Gulf Bank. The bank also by way of security has a lien on the shipping documents in respect of the goods financed.
NDIC further stated that when the ship carrying the 10,000 metric tones of rice arrived Nigerian territorial water on December 28, 2000, it could not berth at Apapa Port until January 03, 2001, because the port was congested and the ship arrived Port Harcourt territorial water July 26, 2001, but refused to berth on the ground that the shipping agency fee $155,000, (about N18.6 million) had not been paid. Upon enquiry, the Nigeria’s representative of the shipping company, Koda International Nigeria Limited, informed Gulf Bank that a bill of $155,000, had been sent to the first defendant, Value Trust Investment Limited, for settlement as per the agreement between the investment company and the Oversea Supplier Luck Rice International. But NDIC stated that it had no knowledge of such agreement on the shipping fee.
The plaintiff stated further that Gulf Bank upon further enquiry was informed by Koda International Nigeria Limited that the $155,000, was for port dues, that is, harbour, conservancy and anchorage fees, and after reviewing the Charter Party agreement between Value Trust investment Ltd and Lucky Rice International under “Clause 28″, showed that liability for the payment of shipping fees was actually for Value Trust International, and when it appears that the investment company could not come up with the $155,000 USD, forming the shipping agency fees, Gulf Bank decided to pay the fee to Koda International Nigeria Limited.
NDIC further averred that when Balyesa state government reneged on its promise to take the rice, Gulf Bank was forced to commence an open market sale of the rice, before the open market sale of the rice, some of the bags were damaged, culled or lost on board which consequently affected the amount to have been realized from the sales. It stated that the total number of sound bags stood at 196,000; torn bags 2,941,; caked or stained bags 869; public relations bags 105; and leap on board 85 bags. At the end of the sale, Gulf Bank was only able to realize the sum of N454,574,150, in the account resulting in a difference of N70, 425, 850 between the initial overdrawn position of N525 million in Value Trust Investment Limited account, and the difference has been attracting interest since 2001.
Sometimes in September 2005, it had a meeting with the defendants at the Ikoyi office of Economic and financial crime commission (EFCC) with a view to resolving the indebtedness of the defendants. It was agreed in its letter dated September 21, 2005, to waive the sum of N196,642,996.08, from the outstanding debt of N240,811,060.59, thereby repayment due to Gulf Bank stood at N44,168,064.51 and sequel to the meeting at the EFCC office in September 2005, the defendants were only able to pay the sum of N10 million leaving the outstanding balance unpaid in the sum of N34, 168, 064, 51.
However the defendants have refused, neglected and failed to liquidate their indebtedness despite repeated demand on same despite the fact that the defendants have admitted owing the aforesaid debt, as this was evidenced in their letter dated February 15, 2006. Consequently, NDIC is claiming the sum of N34,168,064.51, being the agreed outstanding indebtedness of the defendants; and interest on the said sum at the rate of 21 per cent per annum until the final liquidation of the said sum. It also claiming the cost of instituting this legal action.
However when the matter was mentioned the NDIC lawyer Mr Oburume Ayeteno told the court that he has filed an application to place the suit on undefended list which he was ready to argue but Okupe’s lawyer Mr Yemi Gbonegun objected on the ground that he had filed a statement of defence on behalf of the defendants but the statement of defence which the plaintiff had file a reply to cannot be traced in the court’s file, consequently he needed time to reproduce the said statement of the defence.
SOURCE: http://www.pmnewsnigeria.com/2015/05/12/ndic-drags-doyin-okupe-to-court-over-unpaid-debt-%e2%80%ac/
NDIC is also claiming the interest on the said sum at the rate of 21 per cent per annum from May 2007, until the final liquidation of the said sum.
NDIC in its statement of claim filed before the court on the 10 July 2007 by its lawyer, Dr. I. Abiodun Layonu, stated that the defendants was granted a credit facility in October 2000, by Gulf Bank Plc, to finance the importation of 10,000 metric tones of rice for onward delivery to the Balyesa state government in the sum of N448, 000.00, vide an offer letter dated 27 October 2000, and that the terms and conditions of the offers and acceptance were later formalized in a memorandum of agreement duly signed and stamped by the bank and defendants. The plaintiff stated that in securing the facility granted the defendants, the Balyesa state government through its banker, Society Generale Bank granted a bank guarantee in contract sum of N500 million in favour of Gulf Bank and in further securing the facility, the Investment company’s directors, Dr. Okupe and Ahaze, entered into joint and several guarantee to pay full amount granted in favour of the Gulf Bank. The bank also by way of security has a lien on the shipping documents in respect of the goods financed.
NDIC further stated that when the ship carrying the 10,000 metric tones of rice arrived Nigerian territorial water on December 28, 2000, it could not berth at Apapa Port until January 03, 2001, because the port was congested and the ship arrived Port Harcourt territorial water July 26, 2001, but refused to berth on the ground that the shipping agency fee $155,000, (about N18.6 million) had not been paid. Upon enquiry, the Nigeria’s representative of the shipping company, Koda International Nigeria Limited, informed Gulf Bank that a bill of $155,000, had been sent to the first defendant, Value Trust Investment Limited, for settlement as per the agreement between the investment company and the Oversea Supplier Luck Rice International. But NDIC stated that it had no knowledge of such agreement on the shipping fee.
The plaintiff stated further that Gulf Bank upon further enquiry was informed by Koda International Nigeria Limited that the $155,000, was for port dues, that is, harbour, conservancy and anchorage fees, and after reviewing the Charter Party agreement between Value Trust investment Ltd and Lucky Rice International under “Clause 28″, showed that liability for the payment of shipping fees was actually for Value Trust International, and when it appears that the investment company could not come up with the $155,000 USD, forming the shipping agency fees, Gulf Bank decided to pay the fee to Koda International Nigeria Limited.
NDIC further averred that when Balyesa state government reneged on its promise to take the rice, Gulf Bank was forced to commence an open market sale of the rice, before the open market sale of the rice, some of the bags were damaged, culled or lost on board which consequently affected the amount to have been realized from the sales. It stated that the total number of sound bags stood at 196,000; torn bags 2,941,; caked or stained bags 869; public relations bags 105; and leap on board 85 bags. At the end of the sale, Gulf Bank was only able to realize the sum of N454,574,150, in the account resulting in a difference of N70, 425, 850 between the initial overdrawn position of N525 million in Value Trust Investment Limited account, and the difference has been attracting interest since 2001.
Sometimes in September 2005, it had a meeting with the defendants at the Ikoyi office of Economic and financial crime commission (EFCC) with a view to resolving the indebtedness of the defendants. It was agreed in its letter dated September 21, 2005, to waive the sum of N196,642,996.08, from the outstanding debt of N240,811,060.59, thereby repayment due to Gulf Bank stood at N44,168,064.51 and sequel to the meeting at the EFCC office in September 2005, the defendants were only able to pay the sum of N10 million leaving the outstanding balance unpaid in the sum of N34, 168, 064, 51.
However the defendants have refused, neglected and failed to liquidate their indebtedness despite repeated demand on same despite the fact that the defendants have admitted owing the aforesaid debt, as this was evidenced in their letter dated February 15, 2006. Consequently, NDIC is claiming the sum of N34,168,064.51, being the agreed outstanding indebtedness of the defendants; and interest on the said sum at the rate of 21 per cent per annum until the final liquidation of the said sum. It also claiming the cost of instituting this legal action.
However when the matter was mentioned the NDIC lawyer Mr Oburume Ayeteno told the court that he has filed an application to place the suit on undefended list which he was ready to argue but Okupe’s lawyer Mr Yemi Gbonegun objected on the ground that he had filed a statement of defence on behalf of the defendants but the statement of defence which the plaintiff had file a reply to cannot be traced in the court’s file, consequently he needed time to reproduce the said statement of the defence.
SOURCE: http://www.pmnewsnigeria.com/2015/05/12/ndic-drags-doyin-okupe-to-court-over-unpaid-debt-%e2%80%ac/
African proverbs that should be food for thought for Nigerians.
Proverb are an integral part of African culture passed on from generation to generation for centuries, they are still in wide use today and are very much part of everyday speech .
Proverbs are used to illustrate ideas, reinforce argument and diliver messages of inspiration, consolation, celebration and advice
Going by the meanings of some African proverbs, one will understand that Nigeria is great country and will be greater soon. For example, it is said ''A chick that will grow into cock can be spotted the very day it hatches ... From the day Nigeria (we) gained independence in 1960, the western world and most African leaders saw Nigeria as the country that will lead while other African countries will follow, interms of development in all aspect of human society, remember when OBAMA said ''is critical to the rest of the continent if Nigeria does not get it right, Africa will not really not make more progress'' in thesame light, the president of Sierra leone Ernest Koroma said ''when Nigeria sneezes the whole of Africa catches cold. This should make us understand that Nigeria was spotted as a chick that was going to become a cock.
For you that sees unity and progress as something unachievable with large population should think about the African proverbs that says ''Cross a river in crowd and crocodile wont eat you'' and ''A single bracelet does not jingle'' these two means that ththere are strength numbers , but if you are not convinced by the above proverbs because you think Nigeria is made up of different ethnic groups, culture, religion and so on... Rmember the African proverb that says ''milk and honey different colour but the share the same house peacefully. I want we all to remember that the blood that unites us is thicker than the water of diaspora that divides us.
Proverbs are used to illustrate ideas, reinforce argument and diliver messages of inspiration, consolation, celebration and advice
Going by the meanings of some African proverbs, one will understand that Nigeria is great country and will be greater soon. For example, it is said ''A chick that will grow into cock can be spotted the very day it hatches ... From the day Nigeria (we) gained independence in 1960, the western world and most African leaders saw Nigeria as the country that will lead while other African countries will follow, interms of development in all aspect of human society, remember when OBAMA said ''is critical to the rest of the continent if Nigeria does not get it right, Africa will not really not make more progress'' in thesame light, the president of Sierra leone Ernest Koroma said ''when Nigeria sneezes the whole of Africa catches cold. This should make us understand that Nigeria was spotted as a chick that was going to become a cock.
For you that sees unity and progress as something unachievable with large population should think about the African proverbs that says ''Cross a river in crowd and crocodile wont eat you'' and ''A single bracelet does not jingle'' these two means that ththere are strength numbers , but if you are not convinced by the above proverbs because you think Nigeria is made up of different ethnic groups, culture, religion and so on... Rmember the African proverb that says ''milk and honey different colour but the share the same house peacefully. I want we all to remember that the blood that unites us is thicker than the water of diaspora that divides us.
Sunday, May 03, 2015
My first post on Arewa buzz
Welcome to Arewa Buzz Blog! this blog is created to cover topics like; Politics, Lifestyle,Celebrities,Food and more... In northern Nigeria in particular and the whole of Nigeria in general.Arewa buzz is designed to bridge the gap between happenings and the people that need to know about it. Arewa buzz will bring the much needed information closer to you or better still, it will make you have the information at your finger tips by just a click. Arewa buzz can only survive and succeed in the competitive world of blog you can keep coming back here, as I will as well keep posting quality post on this great blog. Thanks for your corporation. So help me God.
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