Posted by Jude Aririesike Spetember 26, 2009.
Akingbola Versus CBN:Case Adjourned Till the 26th of October
Counsels to the Central Bank of Nigeria, CBN insists that the apex bank’s governor, Mr. Lamido Sanusi acted in the public’s interest by sacking the heads of five banks last month and urged the federal high court sitting in Lagos state Nigeria’s South-West region to dismiss a challenge to the move.The Central Bank last month injected 400 billion naira into AfriBank, Fin Bank, Intercontinental bank, Oceanic bank and Union bank and sacked their top management.
The former intercontinental bank Chief Executive Erastus Akingbola is challenging Mr. Sanusi's actions at a Federal High Court in the commercial hub Lagos and is seeking to be reinstated.
Lead counsel to the CBN Mr. Konyin Ajayi says that the statutes have provided that in cases such as this, when a bank is in a grave situation, it is a case of emergency, the governor must act quickly.
Mr. Ajayi says that it is not about the right of a man to employment; it is about the rights of 140 million people. The loss that all the depositors and millions of shareholders of these banks would lose," he told Reuters outside the court.
However Mr. Akingbola's lawyer Mr. Felix Fagbohungbe says that Mr. Sanusi did not follow due process in removing their client because he did not sign an order for a special examination of the bank.
They also argue that the central bank boss should have finished auditing all Nigeria’s 24 banks before taking action.
According to Mr. Fagbohungbe the law says you must make an order to be signed personally by the governor to conduct a special examination.
When that examination is conducted and the report reveals the bank is failing, it is then the governor can exercise his power of removal.
The matter has been adjourned to the 26th of October 2009 when the court is expected to make a ruling on whether it would continue to hear the case.
Courtesy: Channels Television
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Posted by Jude Aririesike Spetember 14, 2009.
Gani to be Buried with Coffin, Says Family
Saheed, the second son of the late legal icon, Chief Gani Fawehinmi (SAN), yesterday disclosed that his father had instructed family members that his remains should be buried with a coffin when he dies.
Gani had lost the spirited battle with lung cancer on Saturday September 5. His remains will be buried tomorrow in Ondo, his hometown, after the lying-in-state ceremonies in Lagos and Benin, Edo State.
Saheed told THISDAY that his late father had said his corpse should not be buried immediately and that his burial should be done in “a modern Islamic way”, which will allow his body to lie in state.
He also said his dad instructed them to continue with the good works he did while alive.
But former Attorney-General of the Federation and Justice Minister, Prince Bola Ajibola, has said the lying-in-state ceremonies held for the late Gani were anti-Islam.
Ajibola’s position tallied with that of the Executive Secretary of the Muslim Ummah of South-west Nigeria (MUSWEN), Prof. Dawud Noibi. The duo spoke at the body’s First Annual Lecture held in Ibadan.
Saheed said: “He asked not to be buried immediately as they did in the olden days. He instructed us to bury him in a modern Islamic way and he asked for that to be done when he was no more. Also, he said that his body should be buried with a coffin and as you can see we are merely carrying out his instructions. Again, he specially said that everything he did must continue.”
He said the late legal luminary asked the family to continue to give assistance to the disabled in society.
Such assistance, according to him, should include monthly feeding, monetary gifts and legal help to the less-priviledged.
Members of the Arewa United Association, Cripple Anti-beggars Association and the Emir of Lagos for the blind, Seriki Markifi Abdulhamidu Haruna, were at the Ikeja residence of the legal luminary for the muslim Fidau prayers held in his honour.
Leader of the anti-beggars association, Alhaji Abubakar Mohammed, who was accompanied by other cripples, said the late Gani used to give them monetary assistance which had helped some of then to become self-employed or independent.
He said: “We are here because our father is dead. For Nigeria, we will not get a person like Baba again because any time we have problem we run to him. I think we will never have anybody like Baba again. Our only prayer is for God to help his family.”
In Ibadan, prayers were, however, offered for Gani at the Ramadan lecture with a declaration that his death at the holy month of Ramadan was a ticket to Paradise for him.
According to Ajibola, the good deeds of the deceased social crusader and the post humus encomiums on him even by the less-privileged were enough evidence that he had a blessed life and should be allowed to go back to His Creator without delay.
“In Islam, we are enjoined to bury our dead without any form of delay. I am surprised at this funfare over the burial of Chief Gani Fawehinmi and I think he ought to be accorded speedy burial rites so that he can start to benefit from the favours of Allah in the grave,” he said.
Noibi congratulated Gani’s children and family for the life of their breadwinner, urging them to emulate his virtues.
Like Ajibola, the don, however, picked hole in the funfare trailing his death, saying it was totally against Islam.
“We are happy as muslims that Chief Gani Fawehinmi lived a worthy life. We are however unhappy that at a time he should be given speedy burial to reunite with his Lord, his lifeless corpse is being taken everywhere for the fun of it. This is clearly unIslamic. It is hoped that other persons would draw a lesson and order that their corpse should be buried in record time when they die,” he said.
Clerics at the occasion like the Chief Imam of Owo in Ondo State, Alhaji Ahmed Olagoke Aladesawe, and Prof. Kamaldeen Balogun, in their sermons, called on muslims to allow their ways of life to be guided by the tenets of the religion regardless of their respective status in the society.
"For us to be part of those who will enter Paradise at the end of our sojourn in this world, all we need to do is to see other muslims as our brethrens, give our religious leaders their due respect and shun any act of indiscipline," he said.
Courtesy: Thisday
Posted by Jude Aririesike Spetember 04, 2009.
Anambra guber: 14 political parties endorse Gov Obi
Fourteen national political parties have endorsed Governor Peter Obi as their consensus candidate for the 2010 governorship election in Anambra State. The parties, under the aegis of Political Alliance of Nigeria, made the disclosure yesterday during their courtesy visit to the state, after the inspection of the projects being executed by the Obi-led administration.
The coalition of the parties that endorsed the governor includes Mazi Okwu of the the Citizens’ Popular Party (CPP); Senator Suleiman Salawu of Action Alliance (AA); Dr. Adegbola Dominic of Action Party of Nigeria; Chief Ambrose Oluru of Hope Democratic Party; Prince Ngozi Emioma of Nigeria Peoples Congress; Chief A. Osula of the Movement for Democracy and Justice; Barrister Idreeez Alabi of Masses Movement of Nigeria; Chief Augustine Mazie of Accord Party; Chief Udemba Chukwudolue of National Solidarity Democratic Party; Engr. Damian Ogbonna of the Peoples Progressive Party, Chief Winston Odumu-Ojobi of the United Nigeria People Party and Chief Sam Eke, the Admin Secretary of Patriotic Alliance of Nigeria.
This endorsement came as the much needed safe landing for Obi following his purported sack from the All Progressives Grand Alliance (APGA), two days earlier.
Speaking on behalf of the 14 political parties, Chief Okwu said they were under intense pressure from their followers in the state to endorse the governor.
He said they could not do that based on hearsay until they had seen what Obi was doing. Based on what they saw, Okwu said, Governor Obi was truly one of the best in the country in terms of delivering democracy dividends, integrity and compliance with democratic norms.
The highlight of the visit was when the 14 national chairmen took time one after the other to pour encomiums on the governor based on the project on ground which they had gone round the State to see.
While the Chairman of Action Alliance (AA), Senator Suleiman Salawu said that he was impressed with the spread of the projects, Dr. M. Adegbola Dominic of Action Party of Nigeria (APN) said as a medical doctor, he was most impressed with the equipment, including CT scan that he saw at the State’s Central Hospital Equipment Store.
All the speakers were full of commendations for the Governor on the area of road construction. They were agreed that Anambra State has the best network of roads in the country, not just concentrated in urban areas, but spread in all the nook and crannies of the State.
Assuring Obi that his re-election was a foregone conclusion, they said, however that the people of Anambra State must be united in forestalling any attempt to rig the election.
In his own reaction, Chief Victor Umeh, national chairman of APGA thanked the coalition for their confidence in APGA government and assured them that APGA would continue to leave up to expectations. Assuring that APGA is growing stronger and stronger, he said that Governor Obi would contest under the party in spite of those who think they could push him around without realizing that a “rock Obi” could not be pushed.
Reacting to the endorsement, Obi said it was a demonstration that the people were pleased with what he was doing and pledged not to relent in his efforts to develop the State by using the money of the people to work for them.
Courtesy: Daily Sun
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Posted by Jude Aririesike August 25, 2009.
EFCC Declares Ibru, Akingbola Wanted
The Economic and Financial Crimes Commission, EFCC has declared the recently sacked Chief Executive Officer of Oceanic International Bank Plc, Mrs. Cecilia Ibru, and her Intercontinental Bank Plc counterpart, Mr. Erastus Akingbola wanted.
A statement issued by the EFCC spokesman, Mr. Femi Babafemi says that the two former bank executives are wanted in connection with fraudulent abuse of credit process, insider trading, capital market manipulation and money laundering running into billions of naira.
Mr. Babafemi told our senior correspondent, Joseph Esenwa in a telephone conversation that the commission resorted to this means after all efforts to reach the two former bank CEOs failed.
According to a statement by EFCC Spokesman, Femi Babafemi, the commission’s Chairman Farida Waziri directed that Ibru and Akingbola be declared wanted following their failure to honour EFCC’s invitation.
Both of them have launched a legal challenge against their ouster, seeking N50 billion each as damages.
Babafemi said in the EFCC statement: “Apart from failing to honour the commission’s invitation, intensive search for the two executives in the last one week has not been successful. They obviously went into hiding to evade arrest.
“This development has made it imperative for the commission to solicit for useful information from Nigerians who know their whereabouts.
“In the same vein, it is necessary to warn that anybody who harbours the two former bank executives will be treated as an accomplice or accessory to crime.”
CBN had two weeks ago removed the CEOs of five banks on the ground of “being principal causes of financial instability in their banks and for acting in a manner that was detrimental to the interest of their depositors and creditors.”
And to save the five banks from collapse, CBN immediately injected a N420 billion bailout package.
Courtesy: Channels Television
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Posted by Jude Aririesike August 18, 2009.
Abuja Residents React To The Sack Of Bank MD'S
Some residents of the Federal Capital, Abuja have begun to withdraw their money from banks whose Managing Directors were sacked by the Central Bank at the weekend.
The banking halls of the affected banks were filled with customers trying to withdraw money from their accounts.
While some residents of the city commended the action of the apex bank others said that the action was too harsh.
A customer of one of the banks whose managing director was sacked at the weekend said he spent a long time trying to withdraw from his account in one of the branches in the federal capital.
The banking hall was unusually filled with customers trying to withdraw money from their accounts.
This customer has cleared his account because he was scared of leaving his money in the bank.
But central bank governor Mister Lamido Sanusi assured customer that the government would not allow any of the five banks to fail in its obligation to customers he told channels television that the apex bank has taken measures to strengthen the financial capabilities of the five banks.
Lamido Sanusi CBN governor despite the assurance by the CBN governor residents of the Federal Capital have mixed reactions to the action of the central Bank. There were also some customers who say the action by the CBN is justified.
Courtesy: Channels Television
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Posted by Jude Aririesike 13-8-2009
EFCC Seals Up Sen. Nnamani's Companies
EFCC operatives have sealed up the premises of Cosmo FM radio station, Rainbownet Nigeria Limited and other companies believed to be owned by former Enugu state governor Senator Chimaroke Nnamani. In a press statement signed by EFCC spokesman Mr. Femi Babafemi, the EFCC says the action followed a directive by the EFCC chairman Mrs. Farida Waziri who as acting on reports that some agents of the former governor had broken into the companies premises to take physical possession of the seized assets. The properties were seized by the EFCC through Federal High Court order in May 2007 following the indictment of Senator Nnamani over alleged corruption and embezzlement of state funds to the tune of 5.3 billion naira. |
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Courtesy: Channels Television
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