We are deceived by multilateral institutions and west. Nigerian Finance Minister

 

The federal government on Wednesday lashed out at Western countries and multilateral development institutions for hampering her efforts to provide stable electricity supply to Nigerians.

Speaking at a panel discussion at the on-going International Monetary Fund (IMF)/ World Bank meeting in Washington DC finance minister Mrs. Kemi Adeosun called the multilateral institutions and their western backers hypocrites for denying Nigeria and other African countries to use coal to generate electricity.
According to Adeosun “am going to point fingers at multilateral institutions and the west, a good example is the coal-fired power plant, we in Nigeria have coal but we have power problem, yet we’ve been blocked because it is not green, there is some hypocrisy because we have the entire western industrialization built on coal energy, that is the competitive advantage that they have been using, now Africa wants to use coal and suddenly they are saying oh! You have to use solar and the wind (renewable energy) which are the most expensive, after polluting the environment for hundreds of years and now that Africa wants to use coal they deny us.”
She agreed that Africa needs to make investment in infrastructure but the playing field must be leveled “we need policy consistency to attract bankable projects, we also need macroeconomic stability, but if you want to phase out coal,  no problem but those who started it should lead, those who want us to stop using dirty fuel should stop it first before telling us not to use it. By telling us not to use coal they are pushing us into the destructive cycle of underdevelopment, while you have the competitive advantages, you tie our hands behind us” she said.
Adeosun went ahead to state categorically that she “would sign up to a global proposal that is fair, with a morally viable sequence that demands that the rich countries have to close their coal fields first before other countries have to do anything.”
Professor Paul Collier of the University of Oxford who agreed with the finance minister called that “an ethical commitment from an African minister.”
Nigeria’s finance minister lamented that huge infrastructure gap all over the world and stated that even if the federal government spends all its annual budget for five years on infrastructure, it cannot close Nigeria’s infrastructure gap. The global infrastructure deficit stands at $1.5 trillion.
At the end of the panel discussion, Adeosun disclosed to Nigerian journalists that efforts of the federal government to repatriate stolen monies from foreign countries was yielding positive results with the US and Switzerland offering to return stolen loots.
However, to ensure that the repatriated loots are put to good use, the government’s of the countries with these stolen monies she said are demanding that the federal government identify what specific projects specific amounts of money would be devoted to before they release the monies.
Similarly, a report on fiscal monitoring disclosed that two-thirds of the global debt of the nonfinancial sector—comprising the general government, households, and nonfinancial firms—is currently at an all-time high amounting to about $100 trillion.
This the report said “consists of liabilities of the private sector which, as documented in an extensive literature, can carry great risks when they reach excessive levels. However, there is considerable heterogeneity, as not all countries are in the same phase of the debt cycle, nor do they face the same risks.”
However, the report warned that “there are concerns that the sheer size of debt could set the stage for an unprecedented private deleveraging process that could thwart the fragile economic recovery and resolved that “this private debt overhang problem is, however, not easy in the current global environment of low nominal output growth.”
At another forum, the International Finance Corporation (IFC) of the World Bank Group, has launched a new program that aims to raise $5 billion from global institutional investors to modernize infrastructure in emerging markets over the next five years.
This fund will open up a new stream of capital flows to improve power, water, transportation, and telecommunications systems in developing countries.
The initiative called MCPP Infrastructure, builds on the success of IFC’s Managed Co-Lending Portfolio Program, a loan-syndications initiative that enables third-party investors to participate passively in IFC’s senior loan portfolio. In its first phase, the program allocated $3 billion from the People’s Bank of China across 70 deals in less than two years. It demonstrated how large investors can benefit from delegating the processes of deal origination and approvals to IFC.
The first partnership under the program was signed with the global insurance company Allianz. Under the agreement, Allianz intends to invest $500 million, which will be channeled into IFC debt financing for infrastructure projects in emerging markets. IFC is also in advanced discussions with Eastspring Investments, the Asian asset management business of Prudential, for a commitment of $500 million. Similar discussions are being conducted with AXA, also for a commitment of $500 million.
MCPP Infrastructure is designed for institutional investors seeking to increase their exposure to emerging markets infrastructure. IFC will originate, approve, and manage the portfolio of loans that will mirror IFC’s own portfolio in infrastructure. It will do so in a manner agreed upfront with its partner investors, always subject to the overall governance of the platform

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See the woman killed by her husband in Lagos recently...

Tragedy struck in Egbeda, Lagos when a woman, identified as Ronke Bewaji Shonde, was allegedly beaten to death by her husband. The suspect is on the run. Ronke, according to sources, was resident, with her husband, Lekan Shonde, and two children, at 5, Tiemo Crescent, off Awori Street, Ile-Epo Alhaji, Egbeda where the incident reportedly occurred. The couple, it was learnt, fought on Friday morning during which noise was heard from their flat. Their nanny was said to have reported for work at about 7am but could not enter the apartment because it was locked. She then peeped through the window and saw the kids crying, trying to wake their mother. A neighbour, who spoke to Sunday Vanguard, said that they heard noise from the building but didn’t envisage it was something as serious as death, until the nanny raised the alarm. The door to the couple’s flat was said to have been forced open and the woman’s corpse found with blood stains on her head. Lagos State Police Command Public Relations Officer, Dolapo Badmus, who confirmed the alleged killing, said the incident was reported by one Mrs Tiemo E.B at Idimu Division, saying one of her tenants appeared to have been killed. Badmus said the suspect couldn’t be traced since the incident occurred while his phones had been switched off. According to her, efforts were on to apprehend him, even as the case had been transferred to the Homicide Section of the State Criminal Investigation Department, SCID, for investigation

Source: vanguard News.

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Nigeria, One of World's Worst Places to Do Business - World Bank

Photo: Wikipedia

The World Bank Doing Business Report 2016 says Nigeria remains one of the poorest business destinations in the world, improving marginally by just one step from its ranking last year.

Out of 189 countries surveyed, Nigeria moved from 170th position with 43.56 per cent points in 2015 to 169 with 44.69 per cent points.

The World Bank said it was more difficult to do business in Nigeria in 2016 than it was last year. The country equally improved by just one step in 2014 to the previous position last year.

While Nigeria's ranking for starting business dropped eight places from 131st position in 2015 to 139th; dealing with construction permits remained unchanged at 175th spot as last year.

Getting electricity became more difficult in 2016, as the country fell in ranking from 181st position to 182nd, while registering property improved by four places from 185th to 181st, and getting credit gets is becoming tougher with a seven place drop in ranking from 52nd ranking to 59th.

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OMG : For spending 40 years in jail wrongly, US Court awards African man $2 Million

 
Ricky Jackson deserves $5.92 for each hour he spent in prison as a wrongfully convicted man, according to a formula the state of Ohio uses.
Jackson, 59, was awarded a little over $1 million yesterday, a down payment on what the state owes him for the estimated 340,272 hours he spent behind bars since his conviction in the 1975 murder of money order salesman Martin Franks. His total payment should be slightly over $2 million.
Jackson and two of his friends, brothers Wiley and Ronnie Bridgeman, were exonerated last year after the only witness against them admitted his testimony during a trial decades ago was false. Eddie Vernon, who was 12 at the time of the murder, told a judge that police pressured him to testify.

Jackson was 18 at the time. Wiley Bridgeman was 20, and Ronnie, now known as Kwame Ajamu, was 18.
The brothers' case with the state Court of Claims is a week or two behind Jackson's case, but they should also receive initial checks soon, Michele Berry, a Cincinnati attorney representing the men told The Plain Dealer Thursday.
Though the $2 million automatic payment -- about $51,900 per year -- may seem substantial to some, no amount can repay someone for almost 40 years of their life, said Brian Howe, an attorney with the Ohio Innocence Project whose work helped to free Jackson.
"If you had come up to me at 19 and said 'you can go to prison and we'll let you out when you are 60 and we'll give you even a billion dollars,' nobody is going to take that deal," Howe said. "There's no amount of money that can make up for it."
The state payment is the first in a two-step process those wrongfully convicted in Ohio can take to be compensated. Next, Jackson and the others can file a claim to be paid for the things -- other than time -- that they lost while behind bars, like wages. The attorneys who handled their legal cases can also be compensated for their work.
The men, and others are among nearly 50 wrongly convicted individuals released from Ohio prisons since 1990, according to the National Registry of Exonerations.
Though not all receive compensation, in 2012 Ohio lawmakers made it easier for those who file a claim by fast-tracking initial payments to within 60 days of when a county court declared a person wrongfully convicted.
In Ohio, a person declared wrongfully convicted is eligible for a base rate of $40,330 per year. That number is then adjusted for inflation based on information from the state auditor's office

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Current Minister for transport, Rotimi Amaechi was responsible for leaking Former president, Olusegun Obasanjo's letter to Jonathan over a missing sum of $20 billion to the media.

 
In an explosive interview with Forbes, former CBN governor and current Emir of Kano, Sanusi Lamido Sanusi has revealed that former governor of Rivers state and current Minister for transport, Rotimi Amaechi was responsible for leaking Former president, Olusegun Obasanjo's letter to Jonathan over a missing sum of $20 billion to the media.

Sanusi said that in 2012 and 2013, government revenue collapsed by $10 billion, without a collapse in oil prices or production capacity, adding that the CBN found a $49 billion revenue gap.

Sanusi said he then wrote Jonathan, saying:

“If this continues, we are going to have a big problem if the price of oil came down. We can’t protect interest rates, we can’t protect exchange rates, we can’t protect reserves.We may have to tighten money to prevent inflation, there will be unemployment, government will suffer – all of the things we are seeing today.”

Sanusi further stated that Jonathan did not do anything until Obasanjo's letter went public. he says

“This was in August 2013, the president received the letter and did nothing. A few weeks after that, the finance minister called to say, governor, can we do some reconciliation on oil revenue numbers? I said minister, I report to the president.I have written to the president, if the president wants me to sit with you and do reconciliation, the president will tell me.

After Obasanjo’s letter, all hell now broke loose. The letter was then leaked to online media, and it became public. That was when the president got angry and we then had to sit and do reconciliation."

Sanusi says he was then summoned by the president;

“In the middle of all these, the president called me and said I should see him at 3pm. I turned up at 3pm and the entire place had been swept. There was no one apart from security services. I got to his office, it was just me and him. It was as if everybody had been asked to go.And so he says to me, he’s calling me because he is surprised that letter I wrote to him got to Obasanjo, I said I’m surprised too.

He said he’s convinced that the letter went from the central bank to Obasanjo, and I had 24 hours to find who leaked the letter or sack somebody; the director who prepared the letter or my secretary and if I did not sack them, that was proof that I leaked the letter and therefore, I should resign.

“I said to him that I’m surprised that I’m being asked to resign for raising an alarm over missing funds and the minister in charge of the portfolio is not being asked to resign.From then I knew I had signed my equivalent for death warrant. But I said I was not resigning. He got very angry and said whether you like it or not, you’re going to leave that office, I cannot continue to work with you, either you or I will leave government."

Afraid for his life, Sanusi said he did the following;

“I was amused that leaking the letter is far more crime than leaking money. I went straight to the office of the principal secretary to the president, and I met him with a gentleman from Kano, who was foreign minister Ambassador Aminu Ali.I said to them, gentlemen, I’m coming to you because I just had a meeting with the president, and there were no witnesses, and the president had threatened me.

I repeated what happened and told them I am going to tell people close to me, if anything happens to me, it is the president.I don’t think I was really in fear of my life. Even if you don’t like someone – Jonathan was not the kind of person that would have someone killed. He wasn’t that kind of leader.

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"if other parts of the country asked Fulani herdsmen to leave their communities and states, Nigeria wil be history" Sen Abdullahi Adamu

 
Spurred by the divergent comments trailing the Fulani herdsmen attacks in communities across Nigeria, senators from the North, under the aegis of Northern Senators, yesterday warned Gov. Ugwuanyi and other governors, including all political leaders and community heads in the country to desist from making inflammatory statements that could further overheat the polity.
This came as Defence Headquarters also, yesterday, vowed that whoever was involved in the killing of innocent Nigerians must be brought to book, in line with the laws of the land.
Rising from a meeting in Abuja, the northern senators promised that, as part of moves to nip in the bud the continued clashes between Fulani herdsmen and farmers, the lawmakers would soon come up with new laws as well as amend existing ones to help promote the interest of Northern Nigeria in particular and the country at large. They also warned that there would be no country called Nigeria, if other parts of the country asked Fulani herdsmen to leave their communities and states.

Reading a communique issued at the end of the meeting to journalists, Chairman, Northern Senators’ Forum, Senator Abdullahi Adamu (APC, Nasarawa West), who noted that the forum resolved to continue its support for President Muhammadu Buhari in order to bring about even development to all sections of the country, said members of the Forum shall work assiduously to enact laws and amend existing ones.
He said:  “We appreciate the steps the Federal Government had taken so far to contain the problems of herdsmen/farmers clashes and call on community leaders to be careful when making statements on these ugly incidences.” Asked whether the forum’s call on community leaders to be mindful of what they say was also applicable to governors of respective states, Senator Adamu said:  “It is for all Nigerians. A governor is a community leader.

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Trending! Masquerades are untaped potential in Nigeria. Lia muhammed

Speaking at the sectoral debate of the federal house of representative in Abuja on Tuesday, Mohammed said most states in Nigeria have one festival or the other.

“Most states today have more than one festival a year, but the packaging and lack of capacity has not enabled them to make the most out of these festivals,” he said.

“There’s a particular masquerade in the south east, it takes 100 people to dress him, another 100 people to undress him.

“If this masquerade is well-packaged, it can provide employment in one week for more than 1000 young men. These are some of the untapped potentials.”

Mohammed explained that Nigeria has the oldest forest in the world in terms of biodiversity for tourists to visit, but tourists are discouraged by bribing and insecurity in the country.

“I worked in the airport for 10 years, and I know that if you want your passport stamped as a foreigner, you slip $100 into your passport. No tourist would come back to a country where he has to bribe immigration to enter.

“No tourist would come to a country where, when he leaves immigration, he enters a ‘one-chance’ taxi or ‘one-chance’ bus. It’s a holistic problem and these are all contained in the national tourism master plan, which I would make available to the house.

“We must make a difference between tourist sites and tourist attractions; what we have in Nigeria are tourist sites. They are not tourist attractions.

“You need infrastructure to convert a tourist site to a tourist attraction. If you don’t have infrastructure, it would always remain a tourist site,

“In Cross Rivers reserve park, Nigeria has the oldest forest in the whole world. It is the oldest in terms of biodiversity, and we have this very rare, white-mane gorilla in that area, but because my people in Cross River have decided to turn them to bush meat, they have now escaped.”

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Is president Buhari still " ogbu Agu 1 of Igbo land or Ogbu ndigbo 1 of igbo land?

Buhari went to Abia state Biafra land during his presidential campaign

Eze Ikonne the (Enyi 1 of Aba) in Abia state, Nwabueze Ngige, Rochas Okorocha and Rotimi Chibuike Amaechi with their cohort gave him a warm welcomed and gave him a chieftaincy title (Ogbu Agu 1) in Igbo land.

Ex President Good Luck Jonathan, went to the North, and they burnt all his campeign buses and destroyed all his posters, he will be disgraced , Today Muhammadu Buhari's People has resumed the massacring of the children of those that gave him chieftaincy title in their own territory and none of these afformentioned persons have spoken yet in regards to the massacre of their people,

Maybe because none of their own children or family members was affected yet. But soon all of them will reap what they have sowed.

If you are a Biafran and after watching this heartbreaking Pictures of our dead Brothers, sisters, and children, and you went ahead posting your beautiful pictures on Facebook without sharing this Picture on your wall to show solidarity to the dead, remember one day will be your turn,

If you are a Christian, and you believe that fasting and prayers will save you and your family, I urge you to continue with your fasting and prayers until the enemies come to your house, they have started killing us with Gun and Knife and no security men is stopping them; soon their Bombs will start Exploding in your houses, Churches and Market places then there will be no place to hide.

If you are a Biafran, and you still rent your houses to Hausa/Fulani people, if you still have them as Gatemen, Gardners, and Drivers in Biafra land, Just know that the man you have in your house is your number one enemy who will first slice your throat when time comes, and that time is now.

Nnamdi Kanu warned you people just two years ago, and no one listened instead, you said he was making a hate speech, today our land is under siege.

Stand up now and defend our land, share this pictures and pass this message to every forum you belong, the world must see what is happening to us, because soon the hunter will be hunted, and then the world will see the reason why we seek and cry for Biafra. Before I forget, I want Hausa/Fulani Killers to know that the people that fought Biafra/Nigeria war are not going to be the people that will fight it now.

This time, the game has changed, and the world has moved on. Technology has taken over, and Biafrans are not left behind.

#FREE_NNAMDI_KANU

#FREE_BIAFRANS.

#STOP_KILLING_INNOCENT_BIAFRANS.

#LEAVE_BIAFRALAND_NOW

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Danger! Boko haram finally conquer Anambra state, bombs Onitsha....

An unprecedented bomb blast has hit Onitsha, the commercial nerve center of Anambra State.

The blast occurred in the early hours of Wednesday. 

Several people were reportedly injured.

Details alter…

Rescue agencies were said to have moved in to render help shortly after the blast while a police team led by the Anambra State Deputy Commissioner of Police in Charge of Operations, Mr. A. J. Kokoma, were at the scene this morning.

- Sources: elombah.

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“I Will Kill More Igbos To Save The Country” – Buhari In BBC Hausa

 
Maj Gen Muhammadu Buhari has dropped the bombshell, on the reason he has been losing election in Igboland and parts of Nigeria where Igbos are residing, stating that it is because he was involved in the Nigerian civil war. …
The former dictator speaking today on BBC Hausa services monitored in kaduna, said with regrets that, “the igbos hate him for what happened during the Biafran war”. “I don’t have any regret, and at such do not owe any apology to them, infact if there is a repeat of the civil war again, I will kill more Igbos to save the country”.

The APC presidential candidate, added that this was the reason they never bothered to vote for him anywhere in Nigeria

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Poor Teebillz in more troubles!

Teebillz, Tiwa Savage’s husband, has reportedly been kicked out of Banky W’s house. The singer confirmed he was safe and was in their best man’s Bank W’s house in her infamous video interview that broke on Pulse.tv
Teebillz whom it is said was prevented from committing suicide by Banky W on Ikoyi – Lekki Bridge last week, was seen leaving Banky’s house with his small luggage. Sources are saying Banky W’s mother ordered for him to evict his friend after she watched Tiwa Savage’s revealing interview in which she revealed all sorts of things about her man including cocaine use.
Also, it has been revealed that Teebillz is fathering a baby named Ona by a reputable older lady who is the Medical Director of DermaCare Medical Ltd and Clinical Director of the Clover Medical Company, Beverly Hills, USA, Dr. Vivian Oputa.

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JUST IN: Nigeria in diaspora protest against Federal government negligence her citizens in London

stop mass killing of the people you govern. Get down to business of governance and save us from international embarrassment.

 

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Tragedy! This beautiful girl was found dead at Trans-ekulu Enugu Nigeria. Read her friends story!

 
 Last Night I got a call as I lay in bed gisting with Mum about 11.47pm and I felt who d hell is dis? I walk up to my phone look at d number and I know who is calling but I didn't wish to speak to her so I switch off my phone and let it charge.After a while I pick my phone up and switch on my mobile data to chat for a bit and alas!! I saw d message from d earlier caller'Vivian your friend is dead' Ah! I quickly typed to d girl bia Don't play dat type of stupid play with me!
She calls back and I pick and she says d same thing again and gives me a number to verify.I called the number no response and all I say to mum is I hope dis is just an expensive joke. Today I make calls and get no response after a while Jenny calls me bk only to say yes she is at d station with others that people confirmed it is my baby Vivian's body that was found on d road side@ Trans-ekulu Ah!
I am speechless now bcoz I remember when U and I talked about death,how someone's numerous bank account would bcom properties of d bank if relatives knew nothing about the account.
U said u wanted to study in Unizik, baby come now u would get admission!
I don't want to accept that u truly are Dead,I hope u would just call me or see this post and type a comment asking me to take this down!!
How can u be dead??
No!!!!! My Vivian Odichimma is still alive.
Baby please type a comment or call me.
This is a joke baby Vivian isn't dead I refuse to accept it. . fine girl!!
##‪#‎Please‬ help repost this if anyone knows about her whereabout should contact the nearest police in Enugu!
Death!!! No!!!

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Fulani vs farmers in benue turns bloody as twenty fulanis and 83 cows got killed during repraisal attack.

Twenty herdsmen and 83 cows were reportedly killed over the weekend in Adayi and Loko areas of Nasarawa LGA of Nasarawa State by gunmen suspected to be from the riverine areas of Benue and Nasarawa states.
But the state police spokesman, ASP Ismaila Numa, who confirmed the attack,  said he could not ascertain the killing of people, adding that the police only received the report on the killing of 83 cows and that they had commenced investigation into the incident.

The Fulani leader of Adayi area, Mallam Bideri Ahmadu, said the killing of the cows was carried out by people suspected to be Agatu gunmen. The traditional ruler of Loko, Alhaji Abubakar Ahmed Sabo, also fingered Agatu youths in the killing of 20 men in the attack. He said the youths crossed over from Benue at about 10:30 am on Saturday and started shooting sporadically, killing many people and cows.
 Ahmadu said: “Upon realising they could not achieve their aim, the Agatu youths opened fire on the cows, killing many people and 83 cows instantly while others who sustained bullet wounds are lying in the bush,” he said.
When newsmen visited the area, the paramount ruler of the area, the Mai Loko, Alhaji Abubakar Ahmed Sabo, said in the recent past, over 20 men, women and children were killed in incessant attacks on Fulani people by Agatu youths. 

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Don Jazzy finally surfaces on social media, clears

Don Jazzy is finally back on social media since Tiwa Savage’s drama broke, and while the Mavin  boss did not mention the claims that he had an affair with his record label’s leading lady, he showed support for Dr SID who was also accused of cheating with the singer.

“My brother from another mother. The most misunderstood person I know. If only the world can know you like we know you,” Don Jazzy said in the very sober post, adding, “But at the end of the day, all that matters is that God sees your kind heart.”

It is unclear if the music producer is addressing the accusation by Tee Billz that he and Dr SID slept with Tiwa Savage, but the sadness in his post can almost be felt.

Read him:

Meanwhile, Simi Esiri, the wife of Dr SID has shown support for her husband by making her first post since the drama, declaring love for him forever.

“My love, my bestfriend, my husband and the father of my daughter,” she wrote adding, “I want you to take time off taking care of everybody and let me love and pamper you like you do for me. Even if no one gets you, I get you and I gat you.”

Touching!

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The Catholic Archbishop of Abuja Diocese, John Cardinal Onaiyekan, escaped death asFulani gunmen fires his car in Edo

 
The Catholic Archbishop of Benin City, Dr. Augustin Akubueze, and the Catholic Bishop of Uromi Diocese, Dr. Donatus Ogun, have both appealed to President Muhammadu Buhari to tackle the issue of the growing attacks of hoodlums in Edo State.
The Bishops spoke against the backdrop of last Friday’s attempt on the life of John Cardinal Onaiyekan, the Catholic Archbishop of Abuja.
Akubueze and Ogun said the appeal became urgent following the brazenness with which the herdsmen commit atrocities in the state without adequate security checks.
Cardinal Onaiyekan was attacked by suspected herdsmen along the Benin-Ekpoma Road while returning from the celebration of the 10th anniversary of the enthronement of Akubueze as a bishop and also to attend the 10 years anniversary of the Diocese Uromi.
Akubueze said in an interview in Benin City: “We thank God that Cardinal Onaiyekan survived the attacks of some criminals elements last week on the Benin-Ekpoma Road.
“If something had happened to him, what would have been the story?
“We thank God nothing happened and we are using this opportunity to appeal to Mr. President to provide adequate security for the citizens of Edo State.”
The catholic archbishop stressed that the responsibility of a government is to secure her people, adding: “What we are asking for is not too much for our President.
“If there is no security of lives and property, no investments or meaningful economic development can take place in the state and the nation at large.
“We need security and we are demanding that from our government.”
Akubueze noted that the spate of attacks by so-called herdsmen across the country “is becoming frightening”, adding: “There is an urgent need by the state and Federal Government to deal with the issue of security to protect lives and property of Nigerians with all seriousness.”
Reacting to Cardinal Onaiyekan’s attack, Bishop Ogun said: “What would have happened if the Cardinal was killed?
“It would have been sorry and pains for us, considering that he was coming to attend the 10th anniversary of the creation of Uromi Diocese.
“We thank God he came out unhurt.”
While appealing strongly to President Buhari to help secure the state, the Bishop added: “We need adequate security to protect the lives and property of the residents of the state.
“We cannot continue to live in fear in our own land because of the activities of these criminals.”
Recounting the ordeal, the driver to Onaiyekan, who simply identified himself as Segun, said the attack happened along the

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