FRSC Officials accused of causing accident beaten black-and-blue by angry crowd

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Road safety is an integral part of any government and as such, they have to make sure they have a body to ensure the safety of lives and properties. The Federal Government of Nigeria has such a body called the Federal Road Safety Corps. Unfortunately, some of these officials have turned into gods simply because of the position they have found themselves. They terrorize drivers and force them to bribe them. Those who don’t agree with their terms could be taken to their office where they are forced to pay a huge fine.

This is the case of two Federal Road Safety Corps (FRSC) officials who were humiliated publicly and beaten by an angry mob after allegedly causing a ghastly motor accident in Anambra state. According to online reports, it was alleged by the crowd that the road safety officials who mounted a checkpoint in the area, were fond of collecting bribes from motorists and were reportedly chasing a passenger bus before the accident occurred after colliding with another vehicle. It was gathered that many of the passengers in the bus were seriously injured after the crash including a pregnant woman.

The accident was said to have caused anger among the residents who caught two of road safety men and dealt with them in public. They were forced to sit in the middle of the road while they begged for forgiveness.

In the pictures shared, the uniformed men can be seen sitting on the floor, in the middle of the road as the angry mob beat and kicked them and ignored their pleas.
An armed policeman was present as he begged the residents to have mercy on the officials and stop beating them.
The victims of the accidents have been rushed to an hospital for treatment.

CBN assures former Skye Bank customers that their deposits are safe

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The Central Bank of Nigeria (CBN) on friday revoked the operating licence of ailing Skye Bank Plc. The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), disclosed this at a media briefing and the new development threw customers of Skye bank intoPandemonium
but  Central Bank of Nigeria  has assured all their customers not to panic as their deposits in the bank are safe.

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The CBN had in July 2016, removed the former board and management of the bank.
All customers of former Skye Bank now Polaris bank, have been informed by the Central Bank of Nigeria not to panic as their deposits in the bank are safe.

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Yesterday, the apex bank revoked the license of the former Skye bank. According to CBN governor, Godwin Emefiele said the decision was reached after Skye bank failed to shore up its capital, which had earlier received a N350 billion intervention in July 2016.

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Godwin Emefiele announced that the Cental bank had infused N786 billion into the bank to return it to profitability. In a statement released yesterday, the apex bank stated that all banking activities will continue at all the branches of the former Skye Bank on Monday September 24th.

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“We wish to assure all depositors that under this arrangement, their deposits shall remain safe and that normal banking services shall continue in the new bank on Monday, 24th September 2018, to ensure customers to transact their businesses seamlessly.”CBN declared.

Why we revoked Skye Bank’s license – CBN

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Earlier this evening, the Governor of Central Bank, Godwin Emefiele announced that it has revoked the operating license of Skye Bank Plc . This action was not a surprise one as CBN had taken a regulatory action on the 4th July 2016 on Skye bank Nigeria PLC of which the action led to the resignation of the Chairman, all Non-Executive Directors on the Board as well as the Managing Director, Deputy Managing Director, and the two longest- serving Executive Directors on the Management Team.

At that time, the proactive decision was reached following the inability of the owners of the bank to shore up the capital of the distressed bank which had earlier received a N350 billion intervention in July 2016. It happened as a result of some unacceptable corporate governance lapses as well as the continuous failure of Skye Bank PLC to meet minimum approach in critical prudential and adequacy ratios, which brought about the bank’s permanent presence at the CBN Lending Window. CBN said it revoked Skye Bank’s licence because the bank requires urgent recapitalisation. As a result, Polaris Bank has taken over the assets and liabilities of Skye Bank with immediate effect.

Polaris is a bridge bank set up in concert with NDIC and AMCON and the unveiling was a guarded secret until Emefiele’s announcement in Lagos today.

“The focus of the action then was to save depositors’ funds and to ensure that the bank continued as a going concern, being an important bank. Part of our intention was also to stem the imminent job losses to staff if a liquidation option had been adopted. These objectives have been fully achieved and the bank has been able to meet customer obligations, having stopped the liquidity bleeding and restored depositor confidence.

“Indeed, the bank’s performance has improved considerably compared to the pre-July 2016 era. “The result of our examinations and forensic audit of the bank has, however, revealed that Skye bank requires urgent funding as it can no longer continue to live on borrowed times with indefinite liquidity support from the CBN. The shareholders of the bank have been unable to fund it.

“As a responsible and responsive regulator and in consultation with the Nigerian Deposit Insurance Corporation (NDIC), we decided to establish a bridge bank, Polaris Bank, to take over the assets and liabilities of Skye bank. The strategy is for the Asset Management Company of Nigeria (AMCON) to fund the Bridge Bank and begin the process of sourcing investors to buy out AMCON. By this decision, the license of the defunct Skye Bank is hereby revoked.

“We wish to assure all account owners that under this arrangement, their deposits shall remain safe and that normal banking services shall continue in the new bank on Monday, 24th September, 2018, to enable customers to transact their businesses seamlessly. Thus, all customers of Skye Bank shall be automatic customers of the new bank and their accounts and records duly purchased by Polaris Bank.

“Given the good performance of the board and management, the CBN shall retain them. In addition, all employees of Skye Bank shall be taken in by Polaris Bank under a new contract unless any employee decides to opt out. We wish to assure the general public that the Nigerian banking industry remains safe and resilient and that the CBN will continue to live up to its responsibilities of promoting stability in the banking and financial system.”

BREAKING: Many losses job as Skye Bank’s license withdrawn by CBN Polaris bank takes over

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The Central Bank of Nigeria has withdrawn the operating licence of Skye Bank.
Umar Ibrahim, chairman of the Nigeria Deposit Insurance Corporation (NDIC), made this known to journalists today Friday September 21st.

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The former Skye Bank which has been taken over by the Assets Management Corporations of Nigeria (AMCON) will now be known as Polaris Bank.

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Skye Bank Plc is a product of the merger of five legacy banks as a result of the banking industry consolidation and recapitalization exercise of 2005. The legacy banks were Prudent Bank Plc, EIB International Plc, Bond Bank Limited, Reliance Bank Limited and Co-operative Bank Plc.

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Following the merger and the seamless integration of the disparate resources, personnel, IT infrastructure, culture and procedures, the bank has since grown into a formidable financial institution showing strong growth and profitability and providing unique financial solutions to a wide customer base both in Nigeria and in the three West African subsidiaries of Sierra Leone, Gambia and Guinea.

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In 2014, in our continuous quest to provide better customer experience, Skye Bank won the bid to acquire the 100 per cent ownership stake of Asset Management Corporation of Nigeria (AMCON) in Mainstreet Bank Limited, a deal which made Skye Bank one of the top four banks in Nigeria.

 

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Mainstreet Bank’s operations has since been integrated into the bank’s operations in one of the smoothest and hitch free integration process recorded in the Nigerian banking industry, enabling it to offer banking services to a wider segment of the Nigerian population and with significant positive impact on the bank’s balance sheet, financial performance and profitability.

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Skye Bank is quoted on the Nigerian Stock Exchange (NSE) with over 450,000 diverse shareholders with a shareholding structure that puts no more than 5% in the control of any one individual or company.

2Baba, Falz, others caught in fashion war

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Style will, well, never go out of style. Creating the perfect blend of clothes, accessories and fashion items is something that not everyone can pull off. There’s a saying that you will be addressed by the way you are dressed. This rings through in every way. As a celebrity, having a good sense of style and fashion is very important. A great fashion sense can help you attract more fans and get people talking about you, anticipating your next outing. This list show 10 celebrities that have proven time and time again that they have the ability to effortlessly be fashionable and stylish on lockdown.

Ebuka Obi Uchendu

Ebuka, as he is often called, has the words ‘fashion’ and ‘style’ locked down as he always looks dashing in every outfit he is seen in.

2Face Idibia

2Baba, as he is widely known as, is one guy we look forward to see. The ‘African Queen’ crooner ever disappoints when he steps out in an attire.

Banky W

Banky W is one of our favorite celebrities who never fails to represent with his dressing. He makes the ladies swoon when they see his pictures.

Richard Mofe Damijo

RMD, for short, keeps us on our toes whenever he steps out. He is a sure eye candy and we cant get enough of him.

Falz

The president of the Sweet Boys Association sure lives to the expectation and requirements of being a ‘sweet boy’.

D’Banj

The koko master himself makes our hearts skip a beat with his choice of outfits.

Timaya

Bam Bam crooner sure knows how to step out in style, looking fresh.

Denola Grey

Denola is a model who lives out his passion for his career and it cuts into the way he dresses every time. He is always on point.

Uti Nwachukwu

Uti aims for a sophisticated look whenever he steps out. We absolutely love to see what he is dressed in for any occasion.

Yomi Casual

As the CEO of Yomi Casual clothing line, he is expected to represent his brand and he pulls it off effortlessly every time.

Check out the aircraft that was spotted in Portharcourt

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Many people have been left shell shocked as a plane was spotted being transported in a trailer truck in Nigeria. The plane was spotted being transported in a semi-trailer truck in Port-Harcourt, Rivers state capital, some days ago. A witness, Humphrey Hu filmed the plane while it was being transported to an unknown location for reason yet to be known. Humphrey Hu shared the pictures of the aircraft on his Facebook page, sharing it, he wrote; “Now see Nigerians importing plane through Port Harcourt wharf. WTF is going on?”

However, the post has garnered some serious controversy. While some Nigerians have made unverified claims that the damaged plane was brought into the country as a fairly used product, others have argued that the plane might have been taken for repairs. The latter argument is totally off because Nigeria doesn’t do aircraft repairs except maybe at the dockyard of the Nigerian Airforce.

This story is coming days after two Bombardier Dash 8 Q300 aircraft formerly used by Topbrass Aviation Services Limited, a local operator, were allegedly stolen in Lagos. The airplanes (registration numbers 5N-TBB and 5N-TBC) have been the focus of a legal tussle between the lessor, Seagold Investment Limited, and Topbrass Aviation Services.

Some interested parties from the presidency, however, acquired the aircraft contrary to the orders of the Federal High Court in Lagos. It was later revealed that the planes have been removed from their lots at the General Aviation Terminal of the Murtala Muhammed Airport (MMA). They are now stationed at the Aero Contractors’ Maintenance and Overhaul (AMO) hanger but with registration numbers already wiped off.

Further investigations showed that the planes are set for maintenance to enable them to fly out of Lagos to an undisclosed location.

Unexpected trouble! Newly appointed finance officer is blocked from entering her office!

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Just ten days ago, Nigerian Finance Minister Kemi Adeosun resigned amid allegations she presented a fake national service exemption certificate in order to qualify for public office in the West African nation. Later,  presidency confirmed Zainab Ahmed as substantive Minister of Finance.

However, members of the Nigeria Airways branch of the Nigeria Union of Pensioners on Tuesday prevented the Acting Minister of Finance, Zainab Ahmed, from gaining entry into her office during a peaceful protest to demand the non-payment of their 14 years’ pension arrears.

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During the protest, the pensioners displayed placards and took over the main gate of the ministry, obstructing human and vehicular movement, particularly the staff who were resuming for duty.

Addressing the protesters, Ahmed asked for time to enable her get appropriate briefing on the issue, and also requested a proper meeting with the leadership of the group so as to agree on a payment schedule that will be mutually convenient.

She stated that the 14-year arrears of payment would have accumulated into a huge sum, and might not be easy to liquidate in one payment, hence a mutually agreed mode would be necessary.

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The protesters therefore presented a copy of their protest letter to the Minister and vacated the gate to allow her access into the premises.

They demanded the payment of their areas totalling N45.3 billion, which they said had been approved by President Muhammadu Buhari since 2017.

The protesters also asked the Minister to maintain open and continuous contact with the leadership of the union for development and information regarding their pension.

People’s views about the new finance minister are quite different.

Zainab Shamsuna Ahmed is a professional accountant who graduated in 1981 from Ahmadu Bello University. She did her National Youth Service, NYSC, in Kaduna State in 1981/1982 and served her country at Messrs. Egunjobi Suleiman & Co. Chartered Accountants, as an Audit Trainee.

She obtained her master s degree from the Ogun state University, Ago Iwoye in 2004. She got her IJMB A Levels from SBS/ABU Zaria in 1979 and her WASC O Level in 1977 from Queen Amina College, Kaduna. However, her quest to make a change and add value in the Nigeria economy catapulted her to the acting Finance minister after Kemi Adeosun resigned last four days ago. But before then, Zainab was Nigeria s Minister of State Budget and National Planning who has contributed immensely to the growth of the economy. She is still the minister of state Budget and National Planning.

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Born on June 16, 1960 in Kaduna State, Zainab was employed in 1982 as an Accountant in the Ministry of Finance, Kaduna State. After several promotions in the ministry, Zainab resigned in 1985 to join the Nigerian Telecommunication Ltd (NITEL). In 2010, Zainab was appointed as the executive secretary and national coordinator of the Nigeria Extractive Industries Transparency Initiative (NEITI).  She is a fellow of the Association of National Accountants of Nigeria (ANAN) and a member of the Nigerian Institute of Taxation and the Nigerian Institute of Management.

Her few major contributions:

She raised an alarm when remittances of independent revenue by generating agencies dropped and urged National Assembly to prevail on the lawmakers to make adequate remittances. Zainab contributed towards the inauguration of committee for 54.5m support project. (Project aimed at contributing to the stabilisation of the North-east Nigeria through strengthening the resilience of Internally Displaced Persons, host communities, returning refugees and the local population affected by insurgency).

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Do you think she is the new hope of Nigeria’s economy and its’ people?

Angry Nigerians slam FG over suspension of Nigerian air which gulped $600k just for logo

Posted on by Shehu BelloEconomy SocietyLeave a Comment on Angry Nigerians slam FG over suspension of Nigerian air which gulped $600k just for logo

On Wednesday, the Federal Government announced that it is putting aside its plan to launch a National Career that will fly the country’s flag in both local and international skies.

The decision to have a National Career had generated excitement among Nigerians when it was first announced but many were disappointed after the government announced that it was putting the project on ice, some were even more angry when they realized that the sum of $600 thousand had been spent on the logo of the new airline. Below are some of the reactions:

Nigerian airways turns to be a total failure

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FG Suspends Nigeria Air Project The Federal Government, Wednesday, suspended its controversial national carrier project, Nigeria Air.

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Disclosing this to newsmen in Abuja, the Minister of State for Aviation, Hadi Sirika, noted that the decision to suspend the project was strategic and had nothing to do with politics or pressure from stakeholders.
The Minister of State for Aviation, Hadi Sirika, on Wednesday, announced the suspension of the planned national carrier, Nigeria Air.

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On his Twitter handle, @hadisirika, Sirika tweeted: I regret to announce that the Federal Executive Council has taken the tough decision to suspend the National Carrier Project in the interim. All commitments due will be honoured. We thank the public for the support as always.”

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Nigeria Airways Ltd., more commonly known as Nigeria Airways, was a Nigerian airline. The company was founded in 1958 after the dissolution of West African Airways Corporation (WAAC). It held the name WAAC Nigeria until 1971, when it was rebranded to the name it had until it ceased operations in 2003.

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The government of Nigeria owned a majority of the airline (51%) until 1961, when it boosted its participation in the company to 100% and made it the country’s flag carrier. At the time of dissolution, the airline’s headquarters were at Airways House in Abuja.

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Operations were concentrated at Murtala Muhammed International Airport and served both domestic and international destinations mainly concentrated in West Africa; the network also had points in Europe, North America and Saudi Arabia. The airline was managed by a number of foreign companies, including British Airways, the Dutch company KLM and South African Airways.

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Nigerian national Air carrier suspended indefinitely

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The Federal Government has suspended the National Carrier, Nigeria Air, procurement indefinitely.The Minister of State Aviation, Senator Hadi Sirika disclosed this on Wednesday in Abuja while briefing newsmen.He said the federal government took the decision to suspend the procurement of Nigeria Air at the federal executive council meeting.

“I regret to announce that the Federal Executive Council has taken the tough decision to suspend the National Carrier Project in the interim. All commitments due will be honoured,” aviation minister Hadi Sirika .

“We thank the public for the support as always.”

It would be recalled that the  minister while revealing the name said, “this will be a National Carrier that is Private sector-led and driven. It is a business, not a social service. Government will not be involved in running it or deciding who runs it. The investors will have full responsibility for this.”

Nigeria Air

 

“The Nigerian Government will not own more than 5% (maximum) of the new National Carrier. Government will not be involved in running it or deciding who runs it.” He also said government is negotiating with aircraft manufacturers and providers to provide fleet for the new national airline. He said : “We’ve been talking to Airbus and Boeing (and they’re present at this event) regarding the aircraft for and we will be making announcements very soon. We are currently negotiating.