Friday 30 September 2011

EMEKA IKE AND JIM IYKE SETTLES THEIR CLASH

By: Online Publisher's
Star actor Emeka Ike has settled his dispute with Jim Iyke.

Emeka and Jim fell out some months back over battle for supremacy.

The reconcialiation took place during the official opening of Chika Ike’s multi million naira boutique in Abuja on Saturday,September 24th,2011...

Emeka Ike confirmed the reconciliation,he said Jim is my boy and will always be my boy,we had issues but as Christians it is all gone now.

FUNKE AKINDELE PHOTO SHOOT

By: Online Publisher's

For your information: the movie premiere of The Return of Jenifa is Oct 7th at Muson Centre, Onikan, Lagos..

MERCY JOHNSON IS PREGNANT ! !! !!!

By: Online Publisher's

If what we are getting is anything to go by, then, we can confirm to you that Princess Mercy Johnson, who got married to Edo Prince, Odi Okojie in a controversial wedding just a few days over a month now, is pregnant...

Just last Saturday in Abuja, MJ, as she is fondly called, made a rare appearance to the public since getting married. She was a guest at the opening of Chika Ike’s fashion accessory stores, Nancy Fancy. At the event, mercy was not the real mercy she was before getting married; it is understandable because of her new status as a married woman and Princess.

A person in the know close to MJ informed us that she is heavy. According to our informant, ‘Mercy is pregnant, though she has been trying to keep it away from many people, especially the press, who really want to know and write about it, but i can confirm to you that she is really pregnant, take that from me.’

Mercy came into movie prominence after her role in the film, Maid. After then, she has featured in both many Nigerian and Ghanaian movies. She recently got in the news for a long time after a woman named Lovely Okojie alleged her of husband snatching, just before her wedding on August 27.

The controversies dragged long that it was almost getting to be the only national news story people are interested in. At a time, the weeding was almost called off. Some women groups also threatened to disrupt the wedding if Pastor Chris Oyakhilome went ahead to join the couple.

Though described as one of the most talked about and expensive weddings, but it is still a union some people are not happy about because of the way she went ahead marrying Prince Odi, who some believed was still legally married to Lovelyn, who bore him two children. For now, MJ is the heartthrob Princess of Prince Odi Okijie.

KAS: I can’t sleep with Tonto Dike

By: Online Publisher's


Tonto Dikeh has just been in the news since last month. It’s either a fight with an older colleague, her colleague, ‘oh Mercy Johnson isn’t my friend’, and her recent clash with a blogger. She is currently working on a song with musician/producer, the fimile baby & also whine for me crooner Kas. And here’s what he said about the actress, when asked about his relationship with her;
We are just close. Her man is my friend. Besides, when I am working with you, I cannot have anything sexual with you, Tonto is a professional just like myself. So there is no way that kind of a thing can happen between us. In fact, my d..k no go even rise for her or any other woman I am working with...

IS ACTRESS TOYIN AIMAKHU MARRIED?

By: Online Publisher's

It is no longer news that sultry actress Toyin Aimakhu is currently in a sizzling romance with Kunle Soyombo,but what baffles a lot of people is why she so crazy about him.

According to source,Toyin now display Kunle’s picture on her blackberry phone and co,with messages like “ Kunle I can’t trade you for anything in this world.”

Further findings revealed that Kunle now lives with the actress at her residence inside Omole Phase 1 in Lagos.

In a recent interview,Toyin confirm the report;she said Many people think I am not married to Kunle.Hmmmmmm,okay ooo,let’s watch and see.Let’s keep that secret for now,I luv him and I am happy with him.

Asked why she call him my husband when you have not officially married him? Or did you people get married secretly? She said He is my Oko(my husband) now,we live together.He lives with me. 

INDEPENDENCE ANNIVERSARY: No Cause For Celebration.

By: Online Publisher's


As the Nigeria clocks 51 years tomorrow, eminent Nigerians have bemoaned the state of the nation, saying there is no cause for celebration.
Speaking with P.M.NEWS, former Presidential candidate, Chief Olu Falae said the nation is at a crossroads and called for serious prayers and fasting for the nation to get out of the quagmire.
“There is no cause for celebration but a call to praying and fasting and supplication to put things right in the nation. With the Boko Haram crisis with us, it calls for prayers.
“Most Nigerians believe that western education is the way forward for the nation but Boko Haram sect saying they don’t want education. There is no way we can stay together and that is why I said we need prayer to move forward,” Falae said.
Former Vice President Atiku Abubakar called on elected leaders at all levels to move away from rhetoric and sugar-coated pronouncements to concrete action to make the lives of the citizens better.
In his 51st Independence anniversary message to Nigerians released by his media office in Abuja, the former Vice President regretted that more than 50 years of independence and 13 years of current democracy, ordinary Nigerians are still struggling desperately to eke out a living, despite the country’s immense natural and human endowment.
According to Atiku, social volatility, occasioned by hunger, unemployment and despair are serious challenges to security, which elected leaders must treat as matters of national urgency or priority.
He said democracy is a social contract in which the voters expect service delivery from their leaders while discharging their own obligations to the state as citizens.
The former PDP presidential aspirant explained that the level of poverty is inconsistent with Nigeria’s huge resources and the huge expectations of better life that come with democratic governance.
Quoting the Chinese philosopher Confucius, Atiku said “in a country well-governed, poverty is something to be ashamed of but, in a nation badly governed, wealth is something to be ashamed of.”
Nigerian Bar Association’s former President, Rotimi Akeredolu stated that there is no cause to celebrate.
“We have made so much and have little to show for it. I don’t think we need to celebrate; lots of our assets have been wasted and there is no development in the nation.”
Former Governor of Kaduna State, Alhaji Balarabe Musa said: “it is true that virtually every aspect of the state of the nation is negative and there is no concrete sign of change without a fundamental revolutionary change, either political or social and by any means.
“The negative state of the nation directly arose from the socio-economic system controlling all development in the country and the inevitable political leadership arising from the system.”
According to him, “the system is based on self interest as opposed to public interest first and enlightened self interest second. The two are directly responsible for the present disabling level of corruption, stealing and criminal waste of public resources.
“The process of any corrective measures by the state and the public is made impossible by the enormous power of the corrupt leadership. We should remember that the relativity sustained and stable development of Nigeria during the colonial time, the First Republic and during two military regimes arose from more concern and concentration on public interest first and self interest second.
“The correct solution the problems of Nigeria historically and in the face of current reality in the world and Nigeria today is socialist reconstruction of Nigeria, starting with the leading role of the state to ensure peace, equality, dignity of the human person and progress.”
Publicity Secretary, Action Congress of Nigeria, ACN, Lagos State chapter, Mr. Joe Igbokwe said “we need to appreciate God that despite the monumental challenges facing us as a country, we are still together as one people.
“But we must take notice that we have kept this country together with huge sorrows, tears and blood. While the majority work to keep Nigeria one work during the day and go to bed in the night, the minority work 24/7 to tear the economy apart.
“I challenge the majority who want to keep Nigeria as one indivisible entity to learn the tricks of the destroyers of Nigeria by working 24/7 too. Our diversity should be our gain and not limitation. These internal contradictions can be managed to produce the best results in Africa.
“Our leaders must go home to do their jobs as fathers and mothers. Hopeless is the nation whose leaders are children.”
National President, Campaign for Democracy, CD, Dr. Joe Okei-Odumakin said there is no cause to celebrate because life expectancy in the nation had dropped, adding that “there is no security of life and property.
There is poverty increase while the power sector has collapsed.
“The president is not assertive as there is no attempt to bring those who committed crime to book. Corruption is on the rise; ASUU is on strike. We have to sit up.”
A lawmaker, representing Kosofe Federal Constituency in the House of Representatives, Hon. Dayo Bush-Alebiosu also bemoaned the state of the nation, such as the series of bombing and killings, saying that there is nothing to celebrate.
According to the founder Coalition Against Corrupt Leaders, CACOL, Comrade Debo Adeniran, there is no cause to celebrate, but “we have cause to mourn. If we celebrate, we are pissing on the grave of those people who have lost their lives so far.”
A lawmaker in the House of Representatives, representing Epe Federal Constituency of Lagos, Hon. Lanre Odubote, however, said there is something to celebrate about, saying for the mere fact that the military had left power was a reason to celebrate.
He added that since the nation had been able to hold a free and fair election since the botched 12 June, 1993 election, there is a reason to celebrate, adding that what the nation should focus on now is how to ensure fiscal federalism.
Elder statesman, Ayo Opadokun was very bitter when confronted with the question whether the nation should celebrate at 51.
“We are not only at a crossroads, but Nigeria is running fast towards the precipice and going under.
“Those of us God used to fight for the democracy have seen nothing. The level of misery and agony in Nigeria is unbearable. The political leaders have undermined the collective interest of the people. The level of corruption has gone up.
“The constitution provides that the National Assembly should be a good check on the executive but the legislators are more daring in corruption; corruption is so pervasive. Nigeria has $230 billion since Obasanjo’s regime and now but where is the evidence to show for it? We have decayed infrastructure, no education, no roads and yet, we have earned so much.
“The economy is gone under. I know that lots of people die because they cannot provide N500 to buy drugs. If Nigeria should go under, those political leaders should know that they cannot survive it.”
Deputy Speaker of Lagos State House of Assembly, Hon. Taiwo Kolawole, said he did not believe there is any reason why the country should celebrate when there are myriads of problems facing the country unsolved.
Kolawole said: “We are faced with series of problems that are too serious to permit any celebration.”
According to him, the nation is faced with insecurity of life and property, poor power supply, unemployment and many other challenges.
“Instead of Mr. President addressing the problem of epileptic power supply, he is focusing on six-year single term. Also, the 2011 budget is yet to be implemented when we have few months to the end of the year. What this means is that the government has not done enough to justify the budget it has rolled out.”

Gunmen Shoot ACN Councillorship Candidate

By: Online Publisher's


An Action Congress of Nigeria, ACN councillorship candidate in Ward B in Ifako-Ijaiye Local Government Area of Lagos State, Southwest Nigeria, Miss Bisola Fadayomi and her brother, Tomilola, were last night shot by unknown gunmen.
The duo were attacked and shot at about 8 p.m.yesterday at Odebiyi Street, near their father’s house at Obawole in Ifako-Ijaiye area while inside a Toyota Hilux bus.
P.M.NEWS learnt that Bisola and Tomilola had gone out to meet their father, Chief Akintunde Fadayomi, the ACN Chairman in Ifako-Ijaiye who just returned from Abuja.
Chief Fadayomi boarded a taxi from airport to Pen Cinema area of Agege from where he joined his children in their bus.
At Odebiyi Street, the gunmen emerged from a corner and attacked Bisola who was hit on her upper arm and Tomilola received bullets shot on his chest.
It was gathered that their father raised an alarm and the victims were later rushed to Lagos State University Teaching Hospital, LASUTH, Ikeja immediately.
Family sources told P.M.NEWS this morning that they are responding to treatment.
Chief Fadayomi confirmed the incident to our correspondent this morning, saying that he suspected the shooting was politically motivated.
“The party has just released a list of candidates for the council poll. Why should the shooting happen now if it is not politically motivated,” Fadayomi queried, while calling on the authorities to beef up security in the area as some enemies of progress are hell bent on disrupting the peaceful political atmosphere in Ifako-Ijaiye.
Similarly, the ACN chairmanship candidate in Ifako-Ijaiye, Hon. Oloruntoba Oke, confirmed the incident and called on the Lagos State government and the police to stop the emerging political violence in the area.
“The party has spoken and the people are happy about the party’s decision,” Oke toldP.M.NEWS.
Speaking with P.M.NEWS at LASUTH this morning, Tomilola narrated how the attack happened. He said they were about to alight from the bus in front of their father’s house when a gunman wearing a face cap approached and opened fire on them.
“I suspected the attacked was actually targeted at my sister who had just won the party’s ticket to contest the councillorship seat,” Tomilola said, adding that the bullets pierced Bisola’s left arm while he got bruises on his body and chest.
Tomilola said he was treated and discharged in a hospital but his sister could not be attended to at LASUTH and was transferred to a private hospital.
He said before neighbours could be alerted, the gunman had joined two others on a waiting motorcycle and escaped.
Contacted on phone this morning, the Public Relations Officer, PPRO, Lagos State Police Command, DSP Samuel Jinadu said P.M.NEWS should call him later.
He could not be reached again before press time for his comments.

State Media: 21 Dead in China Mine Floods

By: Online Publisher's

News-of-their-colleagues-6.jpg - News-of-their-colleagues-6.jpg
Workers are seen awaiting news of their colleagues in northern China's Shanxi province
Authorities in southwest China have confirmed the deaths of 21 workers in two flooded coal mines, state media said Monday, highlighting the dangers of toiling in the nation's collieries.
In Guiyang city, the capital of Guizhou province, 13 people were confirmed dead at the Fuhong mine, following a flood on May 29, the official China Daily newspaper reported.
According to AFP, only five bodies have been recovered, but experts have determined that the eight miners still inside had no chance of survival.
A preliminary investigation revealed that the mine was not constructed in accordance with an approved design -- a possible cause of the accident.
The second incident, which took place at an illegal mine on May 31 on the border of Guizhou province and the Guangxi region, left eight workers trapped. All of their bodies had been recovered by Saturday, the newspaper reported.
Police have arrested four mine owners, it said.
Last year, 2,433 people died in coal mine accidents in China, according to official statistics, or a rate of more than six workers per day.
Labour rights groups, however, say the actual death toll is likely much higher than official data indicates, partly due to under-reporting of accidents as mine bosses seek to limit their economic losses and avoid punishment.
Fatalities at Chinese coal mines peaked in 2002 when 6,995 deaths were recorded, sparking efforts by the government to boost safety standards.
In its latest campaign, the government last year issued a policy that required six kinds of safety systems, including rescue facilities, to be installed in all coal mines within three years.

David Mark: ECOWAS Parliament Not a Toothless Dog

By: Online Publisher's
1402F02.David-Mark.jpg-1402F02.David-Mark.jpg
Nigeria Senate President

Senate President, David Mark, has called on members of the Economic Community of West African States (ECOWAS) to subject themselves to the parliamentary practices and procedures binding them, saying henceforth the ECOWAS Parliament would be proactive.

Speaking when he played host to the Speaker and members of ECOWAS Parliament in Abuja, Mark said all nations within the sub-region must respect resolutions from the parliament.

He said only absolute observance and compliance by nations in the sub-region could make the parliament a strong force in its legislative and oversight functions.

The ECOWAS Parliament, he said, should be able to make enforceable laws, adding: “We must be able to bark and bite.”
He urged member states to borrow a leaf from the activities of United Nations and some other renowned international organisations, adding: “Our work would be easier when member states subject themselves to the parliamentary resolutions.”

Mark, however, assured them of the cooperation and commitment of Nigeria’s National Assembly in making the ECOWAS parliament a toast of other continents.

Earlier, the Speaker, ECOWAS Parliament, Senator Ike Ekweremadu, said the present crop of legislators in the parliament were dedicated and committed. He said with the current approach to legislative functions, legislations in the sub-region would start to yield positive results.

Ekweremadu commended the senate president for his support and encouragement, adding that the body would continue to tap from the wealth of experience in the Nigerian Senate and its leadership.

Wednesday 28 September 2011

THE UNTOLD STORY ABOUT MUSIC STAR,LATE MC LOPH(OSONDI OWENDI)

By: Online Publisher's
MC Loph
The Nigerian entertainment industry lost another of its promising stars on Wednesday,September 14,2011,when hip-hop singer and Osondi Owendi crooner,MC Loph died in a fatal auto crash along Benin-Ore Road,Edo State.

A tragic one at that,MC Loph whose biological names are Obiajulu Kenneth Nwaozor didn’t die alone,his only sister,Chinwe and a cousin also lost their precious lives in the ghastly motor accident.

Eye witness said that the prolific rapper,whose remix of the legendary highlife star’s song(Osondi Owendi) that is late Chief Stephen Osita Osadebe ran into a big pothole, skidded off the road and plunged into a ditch that black Wednesday afternoon.

It was actually MC Loph’s ex-producer,Soso Soberekon,who first broadcast the news via his Blackberry few minutes after the accident.

According to the Osondi Owendi producer,he had earlier chatted up MC Loph,who was travelling home(with his fiancée,elder sister,her last born and little cousin) for his Saturday,September 17,traditional marriage when the tragedy struck.

MC Loph and his sister died on the spot,while his little cousin died after as a result of spinal cord injury.

Many times luckier than her would-be husband and sister-in-law,MC Loph’s fiancée escaped death by whiskers.She is said to be responding to treatment at a private hospital in Lagos.

Sources have since confirmed that the lady who is pregnant for MC Loph is responding to treatment at St.Nicholas Hospital,Lagos.

Aged 38 and from Umunze,Anambra State,MC Loph studied Sociology/Anthropology at the University of Nigeria,Nsukka,from where he nurtured and honed his musical talent.

Formally with Eastside Records where he released his second album,Hands Up,which had his monster hit song,Osondi Owendi,Lord of Pure Hip-Hop(LOPH) was enjoying a juicy recording deal with Morgan Entertainment,owned by a US-based businessman when he kicked the bucket.

His body with that of his elder sister was moved to their Anambra home from the nearby morgue they were deposited after their tragic and painful death.

With the demise of MC Loph and his elder sister,Chinwe,their mum whose husband(Kenneth Nwaozor) died years back is now left without a child.

Although no burial arrangement has been made officially,we learnt that no time would be wasted in committing the deceased to mother earth since they are fairly young.

The process actually commenced on Monday,Setember 19,with a meeting of MC Loph’s close friends at O’Jez Entertainment,National Stadium,Surulere,Lagos.

Pictures of Beyonce Spotted On Vacation Showing Off Her Baby Bump In Bikini

By: Online Publisher's

Expectant mother and birthday girl, Beyonce was spotted yesterday at the beach in Croatia with her husband, Jay-Z , sister Solange, and friends. Bey and her close pals are currently on a cruise around Europe to celebrate her 30 th birthday

beyonce and Jay Z
Beyonce and Jay Z
beyonce and Jay Z

55 Year Old HIV Positive Woman Had Sex With A 12 Year Old Boy

By: Online Publisher's
Some people need to be jailed with the key thrown away. Can you imagine this woman’s level of callousness?  55 year-old Debra Flowers Haggerty of Houston, Texas was alleged to have lured a 12 year-old boy to have sex  with her knowing fully well she was HIV positive!!! 


Click the link below to watch the video
55 Year Old HIV Positive Woman Had Sex With A 12 Year Old Boy

Accused Rapist Propose To Marry the Victim!

By: Online Publisher's
Pic From the scene
Still trying to Cool off from the babrbaric Abia rape case ABSU RAPE SAGA I was angered by this latest news that was just forwarded to me...

As if it was not criminal enough to rape an innocent female, a 23-year old man, Samuel Godwin Effiong, who is facing a rape charge at Oshodi magistrate’s court, has made a shocking proposal to the 27-year old rape victim (name withheld) at the court by offering to marry her to compensate her.

Effiong made the offer in the open court to the victim by proposing to marry her before the presiding magistrate, Mrs. Osho Adebiyi.

Effiong told the court, in the presence of the victim, that he was ready to marry the victim and take care of the baby if she was pregnant as a result of the rape.

He said the proposal will facilitate the final settlement of the rape charge against him.

Effiong was charged to court for allegedly raping the 27-year old woman under false pretence.

He was alleged to have worn his brother’s military uniform and arrested the victim at Ikeja area.

Instead of taking her to the barracks as he claimed while arresting her, he took her on a motorcycle to a hidden place at Mafoluku Oshodi where he raped her.

He was however unlucky when someone who suspected their movement raised an alarm that attracted other neighbours and the police.

Effiong was eventually arrested and charged to court.

He pleaded not guilty.

The court granted him bail in the sum of N200,000 with two sureties in like sum.

When the matter came up, he made the offer so that he would regain his freedom.

Lawyers who spoke to P.M.NEWS this morning said despite offering to marry the victim, the accused will have to face trial to enable the law take its course.

The former Secretary-General of Nigerian Bar Association, NBA, Lagos branch, Mr. Ike Ukor, said “No, the law will still have to take its course, unless the woman agrees to marry and drop the charge.”

In his reaction, Festus Keyamo, legal practitioner, said: “the accused marriage proposal does not legalise the crime, though it all depends on the woman because once the woman drops the charge and says ‘I am no longer pursuing the case’ that will be the end of the case, as the prosecution needs the evidence of the woman to convict the man.”

Another lawyer, Mr. Paul Ogundele said as the issue is, the legal implication is that since the accused in the rape matter agrees to marry the victim, there is the likelihood of the case being frustrated, especially when the victim consents to the marriage since she is the sole witness in the case. They will be expected to give overwhelming evidence for the prosecution of the case.

Another Lagos lawyer, Mr. Tahiru Najim while also aligning himself with the opinion of other lawyers, said the man cannot be exonerated.

“He is still liable in strict legal terms because it is the relationship that existed at the time the offence was committed that counts.”

Mr. Alex Uzebu, another Lagos-based legal practitioner, said the offence had already been committed.

“It has no bearing at all with the marriage proposal. Just like a man who steals another man’s car and decided to return it after he was caught or offers to buy the car, the person is liable.”

Orionye from the law firm of Ade Oyebanji & Co. opined that the man cannot be exonerated from the charge of rape unless the woman decides to drop the charge against him.

“If she drops the charge, then the man can escape and if not, when the case is proved, the man will be liable.”


Dowden speaks on Why Nigeria is still underdeveloped.

By: Online Publisher's


Oil is a curse to Nigeria?

ABUJA—MR. Richard  Dowden, Director of African Society, London, yesterday, identified endemic corruption, bad politics, failed economic policies, over-dependence on oil, favoritism for appointments and the country’s bad reputation for the continued slow pace of development.
Dowden, who was guest speaker at Independent Annivesary Lecture in Abuja, told a gathering of top government functionaries, including members of Federal Executive Council, led by President Goodluck Jonathan, Speaker of House of Representatives, governors and others, that the discovery of oil was a curse to Nigeria, as it had led to widespread corruption and looting of resources by corrupt government officials.
President Goodluck Jonathan (right), and Guest Speaker Richard Dowden Director Royal African Society London, at the 51th Independence Anniversary Lecture held at the foreign Affairs Ministry Abuja 27/9/2011 Photo by Abayomi Adeshida
The lecturer, who noted that major players in the private sector also contributed to the country’s poor economic indices, with the frequent use of under-hand tactics such as tax evasion, adding that Nigeria’s economic woes began with the advent of oil which, according him, led to a lack of initiative by successive governments.
Dowden, who delivered the lecture, entitled, “Nigeria in Transformation” at Tafawa Balewa House headquarters of the Foreign Affairs Ministry, said that for Nigeria to return to the post- independence era in which it recorded trade surplus, investments must be made with a view to exporting cash crops.
Singling out members of the National Assembly, who he criticised for earning the highest pay in the world as congressmen, Dowden warned that the country could not continue with the socio-economic disparity between the rich and poor.
He said: “I believe oil is a curse, it is like ”King Midas.” When King Midas was king, he wanted everything he touched to turn to gold. Everything he touched turned to gold but he starved to death. When he touched food and drinks, it turned to gold. Did oil make this country rich? No, to the contrary.”
Former BBC correspondent Michaela Wrong and a renowned poet, Odia Ofeimun, discussants at the lecture, called on government to end lopsided distribution of wealth and diminishing amount of opportunities for Nigerians in the lower rung of society.
President Jonathan, in his remarks which followed the comments from guests, reiterated his administration’s commitment to transform the country.
He sought a better presentation of Nigeria by the media and elite, who he blamed for brainwashing the public into a state of despair.
The President, while pledging improved power supply, insisted that he could instigate change by building institutions and convincing the best brains in Diaspora to return home to contribute to national development.
He declared that on completion of his reform agenda, Nigeria will end its run with budget deficits and return to a path of stability, completely changing its oil dependent status.
Jonathan said: “When I see people in my office, I always say that only a few people needed to see me if the system is working. Ministers don’t need to see me if the system works.
”Ministers have a budget approved by the National Assembly to run their ministries, their recurrent and their capital project. If they are competent, they can run the ministry in a way that Nigerians will know that they are working,” he added.


“A lot of things have not been done properly, we have a lot of negative issues, because of this probably because a lot of things need the intervention of the president, you probably want to alter something that is not good enough. Now we are in the process of carrying out such corrections, once we are through which such restructuring, Nigeria, will get to where we are going. I have no fears about that.
“The problem of oil which Dowden raised is true. Any country that is blessed with minerals tends to breed corruption. The extractive industry tends to breed corruption. I made the statement somewhere before, that in ten years or thereabout, we should be able to run our government without oil. And we can do it.
“If you look at the size of Nigeria, all the general imports that come into Africa, 20 percent of it come to this country. If we have well managed ports alone, the income we will make as a government will be enough.
“Because there are lot of linkages, things are not done well, goods have to be cleared from other countries and transfers to Nigeria. And if we fix a number of the things we must fix, people may complain that its politics, but we must do these things, we have no choice. By the time all these institutions are fixed in ten years we will run government without oil.
“For us as a people, we must look at others to learn from where they did well and forget where they didn’t do well. He wrote in his book and he made the statement here that everybody thought that the country is going to collapse, that Nigeria is going to be a failed state. But Nigeria is moving.
“He said it that we have very good people, some in the academics, he asked that why is it that we cannot fixe our own country and that is the kernel. We have fantastic people all over the world, for us to have 25 thousand doctors working in America, the questions is how can we use these talents and brains we have to move this country forward?
“I promise Nigerians that surely, we will move this country forward. We will employ all we have and build strong institutions to move this country forward.”

Oceanic Bank shareholders approve ETI acquisition deal

By: Online Publisher's


LAGOS – Shareholders of Oceanic International Bank Plc (troubled bank), yesterday, approved a proposed acquisition deal with Ecobank Transnational Incorporated,ETI, to restore the bank to required capital adequacy and liquidity levels required by Central Bank of Nigeria,CBN.
The shareholders of Oceanic Bank are expected to get one new ETI shares in exchange of 14 Oceanic Bank shares after reduction of the bank’s paid-up share capital.
At a court-ordered Extra Ordinary General Meeting,EGM, the shareholders consented to all the proposal brought before them by the Board of  Oceanic Bank.
Specifically,  11, 953,093,175, votes in favour of the reorganisation deal, representing  99.98  per cent of the entire shareholders present at the meeting, while 1,000 votes against the reorganisation scheme, representing 0.02 per cent.
Chairman of Oceanic Bank, Apostle Hayford Alile, who presided over the court-ordered meeting, commended the shareholders for approving the scheme of arrangement, stressing that the reorganisation of the capital between Oceanic Bank and holders of its fully-paid ordinary shareholders entails reducing the entire paid-up share capital of the bank from N11,110,684,684,606.50  comprising 22,221,369,213 ordinary shares of 50 kobo each to zero, through the cancellation of every fully-paid, issued, and outstanding ordinary share of 50 kobo each in the paid-up capital of the bank.
At the meeting, Managing Director /CEO, Oceanic Bank, Mr. John Aboh, said: “The proposed acquisition is the best that has ever happened in the Nigerian banking industry, as holders of  Oceanic Bank shares so cancelled shall receive one ordinary share of US$0.25 and 0.428 preference shares of US$0.1032 in ETI credited as fully paid for every 20 ordinary shares o 50 kobo previously held by them in Oceanic Bank prior to effective date.
This means that Oceanic shareholders will get one ETI shares in exchange of 14 Oceanic Bank shares. When one consider the price (N1.15) at which the Oceanic Bank was placed on technical suspension on the Nigerian Stock Exchange (NSE), You all will agree with me that it is a fair deal.”
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