NewStats: 3,262,954 , 8,178,626 topics. Date: Wednesday, 04 June 2025 at 08:15 AM 6q5hu

Emperormartin:
Drug Lord meets militant war lord...

Tinubu has successfully turn Nigeria to Mexico of 1980's

Let's be objective for once. There is nothing this dude has done so far that Peter Obi did not say he'll do. Let's criticize meaningfully so that we don't come off as just senseless. Until the Supreme Court decides on the election petitions, this dude is still the president.


https://www.youtube.com/watch?v=NRFwmGpTpQs

Do you just comment for commenting sake or you just get triggered by the name "Buhari". Not everything he does must be criticized. Be sure you read and understand first and not just criticize sheepishly.
States that are not even able to pay their workforce, now want to take over DISCOS? How are the Primary Schools that were taken over by States fairing?Moreover, as noted in the President's response (If you cared to read it) his main reason for rejecting it is because States cannot unilaterally take over t DISCOS without the approval of all the other Stakeholders that includes The Federal Government and Private Shareholders.

nairavsdollars:
Why is the President always rejecting good things?

BigIyanga:

On paper yes, but doubled the size of national budget.. in recurrent spending. From N3.8tn in 2015 to over N8tn in 2019

Not sure you know the difference between Total budget and recurrent expenditure. Please take time to check your facts before posting.

English comprehension. He said Testing Capacity which is not the same thing as actual testing done.
A 1500 Testing capacity means that if they have up to 1500 people that needs testing, they are able to test all of them in a day. However, there is no where in the world where testing is done randomly. It is only if you show symptoms that you get tested. Or do you expect Government to start dragging people out from their houses to go get tested?

Lorazepam:
500 tests in one day

I thought Buhari said Lagos will be doing 1500 tests daily and Abuja 1000 tests.

South Africa has carried out over 100k test and Ghana has carried out over 50ktests, while we still dey on 7k tests

We are not ready in this country

0monnak0da:

That is your assumption but it is wrong

He is absolutely correct by the law. Yes, in the days of PDP at the Center, nothing mattered. Presidents initiate and remove any governors they don't like or that oppose them at will, irrespective of the law.. But Nigeria has come this far. That can't happen again. The law is very clear, even though an Impeached Governor cannot challenge his impeachment in court, previous judicial precedents has shown that the process that led to the Impeachment can be challenged in court.
Moreover, It is the Chief Judge of the State that appoints a 7 man neutral committee that will investigate any allegations against the Governor and not the House. If the says the Governor is not guilty of the allegation(s) the house can't do anything. The impeachment process automatically comes to an end.
While we speak, I'm pretty sure the said House are probably busy negotiating their decamping to the Governor's party.
As an Imolite, my advise to Hope is to continue the good works Ihedioha started for the benefit of the state. That is the way to win over even the nay Sayers. But if he doesn't he will isolate himself from the people, who already have high expectations from that office.

GamalNasser:
They should if they know what they are doing ..Can you explain how you became governor without a single member of your party in the house? How is that even possible?

Can you explain or point to the law that says you can't be a governor unless you have at least 1 member of your party in the house?
My point is, when making assertions, it should be beyond reasonable doubts. Can he be impeached for not having his party member in the house? The answer is NO. The law on impeachment is very clear. I understand that many people are not conversant with the tenants and dictates of the law, please follow me here.

THE PROCESS FOR IMPEACHING A STATE GOVERNOR IN NIGERIA
Posted at 16:05h in General by 0 Comments
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IMPEACHING A GOVERNOR
Impeaching a sitting Governor of a State in Nigeria is a very serious matter. It is serious not simply because it amounts to effectively ‘sacking’ the number one citizen of the State in question, but also because it amounts to reversing the decision of a majority of the citizens of that State, who have placed the Governor in that office for a stated term by voting for the Governor in the Gubernatorial elections of that State.

Due to the severity of the issue, the process for impeaching a Governor is pretty stringent and is contained in the one document which has a very strict process and procedure for amendment- The Nigerian Constitution. The process for impeaching a Governor of a State in Nigeria is contained in Section 188 of the 1999 Constitution. In Nigeria, there have been a number of successful impeachments of State Governors since 1999.



Steps for impeaching the Governor of a State in Nigeria:

Step 1

A notice of any allegation in writing alleging gross misconduct on the part of the Governor. This notice must be signed by not less than one-third of the of the State House of Assembly is presented to the Speaker of the State House of Assembly.

* Gross misconduct is defined by the Constitution as ‘…a grave violation or breach of the provisions of this Constitution or a misconduct of such nature as amounts in the opinion of the National Assembly to gross misconduct.’

Step 2

The Speaker of the State House of Assembly must within 7 days, serve the Governor of the State and each member of the State House of Assembly with a copy of the notice of allegation.

Step 3

The Governor has a right of reply (he/she does not have to reply however), and any such statement in reply to the allegation must be served on each member of the State House of Assembly.

Step 4

Within 14 days of the presentation of the notice to the Speaker of the State House of Assembly, the State House of Assembly shall resolve by motion without any debate whether or not the allegation shall be investigated. This motion needs to be ed by at least two-thirds majority of all of the State House of Assembly.

Step 5

If the motion fails to reach the required majority, the process immediately stops, and no further action will be taken. However, if the required majority is obtained and the motion is ed, then the Speaker of the State House of Assembly will within 7 days of the ing of the motion, request the Chief Judge of the State to appoint a of seven persons who in his opinion are of unquestionable integrity to investigate the allegations. The of the cannot be of any public service, legislative house or political party.

Step 6

The is to report its findings within three months of being appointed. The findings will be reported to the State House of Assembly. During the proceedings of the , the Governor shall have a right to defend himself, and shall also have the right to be defended by a legal practitioner of his/her choice.

Step 7

Where the reports that the allegation has not been proven, there will be no further action. However, if the report is that the allegation against the Governor has been proven, then the State House of Assembly will consider the report, and a resolution for the adoption of the report shall be moved.

Step 8

For the resolution to be adopted, it must be ed by not less than two-thirds majority of all the member the State House of Assembly. Once adopted the Governor shall stand removed from office as from the date of the adoption of the report.

CONSEQUENCES OF IMPEACHMENT
Upon the adoption of the report by two-thirds majority of the State House of Assembly, the Governor stands impeached, and most immediately vacate the office of Governor.
The office of the Governor will to the incumbent Deputy-Governor, and he will take the oath of office.
Once the resolution is adopted, there is no recourse to any court of law or judicial proceedings. The Governor cannot challenge the decision of the or the State House of Assembly.
Where the Governor is impeached, and the Office of the Deputy-Governor is vacant at the time, then the Speaker of the State House of Assembly shall hold the office of Governor for a period of not more than three months, during which there shall be an election of a new President, who shall hold office for the unexpired term of office of the last holder of the office.
*Although once the impeachment resolution is ed, the impeachment cannot be normally challenged, however, recent court cases have established that, the clear position of the law the courts are empowered to determine the legality or otherwise of the process leading up to the removal of the elected official. In other words, though the impeachment can’t be challenged in court, the process leading up to the impeachment can be challenged in court.
Source: https://lawpadi.com/process-impeaching-state-governor-nigeria/
Constitution: http://www.nigeria-law.org/ConstitutionOfTheFederalRepublicOfNigeria.htm

Islie:


https://www.independent.ng/the-united-states-funded-buharis-campaign-says-military-contractor/

"In the build-up to the 2015 elections, the President Goodluck Jonathan istration made some successes in combating Boko Haram but after the Buhari istration came on board, the momentum went down temporarily."

Seriously? This dude is trying to rewrite history just like that. Military Contractor that is only interested in his contract. Like or Hate Buhari, the fact remains that Boko Haram has suffered tremendous losses since the inception of this current istration.
Rather than spend money on Military Contractors, the istration decided to invest in the training and equipping of the Nigerian Military, which makes perfect sense. Which sovereign nation will depend on Military Contractors for her National Security?
This false and misleading narrative is an insult and disrespect to our gallant men & women in Uniform that are out there fighting for motherland and safety of her people.
People now go to movie Theaters, Markets, Bus Parks, shopping malls, Night Clubs and Churches without fear of Boko Haram bombs. It is easy to forget easily how bad it was but History should not be distorted in anyway."fire fighting approach" for political gains.

AgentNairaland:
A Good Leader Should Expect Hate Speech..

Indeed Zoogeria Is Etoile Du Sahel Which Means ......

A good leader should tolerate criticism (Not expect hate speech). These are 2 different things.
I don't this bill because it is not well defined hence can be misused. However, I agree that hate speech needs to be checked. The role hate speech played leading to Rwanda Civil war is still fresh in our memories. Also hate speech and fake news helped to fuel the Nigerian civil war and many other crimes against humanity.

See some documented cases and know that it is a very dangerous thing if not checked.

https://www.theatlantic.com/ideas/archive/2019/04/rwanda-shows-how-hateful-speech-leads-violence/587041/

https://heinonline.org/HOL/LandingPage?handle=hein.journals/mcgil46&div=20&id=&page=

http://www.genocidewatch.org/images/OutsideResearch_Hate_Speech_and_Group-Targeted_Violence.pdf

https://www.concordia.ca/research/migs/resources/rwanda-radio-transcripts.html

FactBoyz:
Former Special Adviser to former Nigerian President Goodluck Jonathan and human rights activist Reno Omokri has called out the Vice President of the country; Yemi Osinbajo.

It is definitely not unconnected to the recent news that filled the Nigerian Cyber space where the Chief of Staff to the president Abba Kyari, had to travel to London where the president is to sign a document.

See Reno's Tweet below;



https://mobile.twitter.com/renoomokri/status/1192125284566339584

News From Factboyz

https:///2019/11/reno-omokri-shades-osinbajo-calls-him-audio-vp.html

The facts remains that this current VP has been the most active and responsible Nigeria has ever had. Dispute that with facts and not emotions.
Also, to help the ignorant ones, the Constitution of Nigeria did not assign any duties to the VP position, except to deputies for the President when the need arises.
Whoever occupies that position serves at the pleasure of his/her Principal (The President). So, emotions aside, there are more important things to hold this Government able on and not baseless and childish stuff like this.
PDP unfortunately, are not providing the type of opposition Nigeria needs to keep this istration n it's feet. With this type of opposition, it is obvious they are not yet ready to return to power.

Umsel5195:
anytime I saw something like this happens what comes to my mind is whether the federal government were considers the masses what will become of the independent entrepreneurs who their source of living is indulging in trading of same products
I bleeds for my country
God help us against our tyrannical government
they are all selfish and greedy due to their personal interest�

I think the problem here is not understanding what the directive says. The directive is to blacklist from the banking system any firm, its owner and top management caught smuggling or dumping any of the 43 items that are not eligible for foreign exchange.
This does not stop people who import it legitimately from doing their business. The only thing is that they will have to source for their foreign currency from the alternate market at a higher rate because Government has stopped subsidizing those items.
So, if you import legally through the ports, pay your import and custom duties as required, then you shouldn't be concerned. But if your so called trade is illegal smuggling, then this should concern you.

I hope you understand that you can't have conflict of responsibilities in law. If the powers/responsibilities had already been assigned to the Minister of petroleum in another law/Act, it will be wrong to assign same powers/responsibilities to another agency without first amending the first law to remove the paragraph in question. If NASS was being diligent, they will not have to be exposed the way they've been under this government. But because they merely do copy and past law making, they don't take time to reconcile the bills with already existing laws.

DMerciful:
Saw it on another thread and I was extremely disappointed with people preaching southern unity rejoicing that the president declined accent, very shocking!
This is a good bill that will benefit the Niger Delta region but as usual the intention is always to undermine the goose that lays the golden eggs!

Unfortunately this coming NASS will be worse than a rubber stamp, another 4 yrs of declining loading. Sha make him sign the electoral act before he will claim it's too close to 2023 elections!

Look at the quoted comment for instance! Bubu's main reason for declining accent is because of reduction of powers of petroleum ministry and this shows a president should not be the petroleum minister.

banty:
it's as simple as selling off the nation if you know you know

They don't own the road, so how did you arrive at "selling off the nation"?
It seems many Nigerians just see every issue from a partisan standpoint. There is a clear part of the statement that says this "The new order will allow private companies such as the Dangote Group, Unilver, and Lafarge Africa construct major roads across the country and be paid in the form of tax credit."
Just in case you do not understand what tax credit means, i will try to explain it as simple as it is.
Assuming Dangote company chooses to build a Federal road that leads to one of his place of interest or any road at all. The company appraoches the Federal government to make their intention know. Costing and other assessments are done to determine how much it should cost to build the road and agreement on the cost, quality and modalities like payback agreements are reached between both parties. Then Dangote proceeds to build the road.
Lets say the road cost Dangote company N1 billion naira to build. That amount is then deducted from the Tax that Dangote company is suppose to pay to the Federal government.
So, if Dangote Company is supposed to Pay a tax of N1.5 billion naira as tax for 2019 and the built a road that cost N1 billion for that same year, they will only have to pay the balance of N500 million as tax to Federal government for 2019.
This is what is known as Tax Credit.

AreaFada2:

He thinks the grinding poverty in the land is a joke. A country that needs concrete and urgent sustainable policies to lift many out of poverty soonest.

Please name one of those policies that need to be urgently implemented to lift many out of poverty soonest.

EFCC by this response is obviously messing with Fayose and indirectly letting him know they don't care about his offer. EFCC obviously knows Fayose still enjoys immunity till the end of the day on Oct 15. And they also know Fayose will not accept their counteroffer. So, that leaves both parties with no agreement and frees EFCC from any obligation that would have prevented them from arresting him immediately after handover (If at all he will be available for hand over) or anytime before then in case he makes any attempt to flee the country under the disguise of a last minute travel abroad.

dantewest:
Saraki. He has proven to be competent and above cabalistic influence, that's taking the country backward

What's your definition of competency? Please educate us on his achievements as the Senate President of the 8th Senate.

Let me remind you of some of his promises when he took office:
1. Open NASS: i.e to instill transparency in the s and earning of the Senate.
2. Speedy age of the budget (Which coincidentally is the number one function of NASS)
3. Work with the Federal government to bring the much-needed change to Nigerians.
4. Reduce the Senate budget

Please tell us without sentiments, which of these 4 promises was fulfilled by him.

I mean, if we say Buhari is not competent, we should aspire for a better candidate. Except it's a case of "the enemy of my enemy is my friend".

fulaniHERDSman:
AFAN President = Kabiru Ibrahim


HOGWASH from the same Actors.

So you think it should be:

AFAN President =Uche Okafor? Are Igbo's into Commercial Farming?

It's like saying Association of Electronics Marketers President = Ibrahim Mogaji or
BDC Operators President = Maduabuchi Ogbonna.

Do you get now?

TonyeBarcanista:

Bros try get brain na. You think say na today dem start? Something wey start as far back as 2016

http://www.nan.ng/agriculture/aibom-new-rice-farm-to-employ-2000/

No worry very soon you go see more details...

He asked a very genuine question judging by the antics most of these politicians exhibit. I understand you need to push your narrative here, but it is unfortunate for you to respond with an insult.

By the way, the Picture of the supposed farm in your link had appeared in another story, 20 days before yours was published. So I am not so sure the picture represents the supposed Akwa-Ibom farm. But it will be helpful for your point to actually provide verifiable evidence to convince any doubters out there that this is not one of those Rice Bagging projects that are misrepresented as Rice Production. Well done all the same.
http://www.maayouths.org/bauchi-college-of-agriculture-to-be-moved-to-dass/

"The Justice Department coordinated with the Department of Homeland Security (DHS), the Treasury Department and the U.S. Postal Inspection Service to track the suspected cyber crooks, which ultimately resulted in the arrest of 42 alleged fraudsters in the United States and 29 in Nigeria."

"Foreign citizens perpetrate many BEC scams. Those individuals are often of transnational criminal organizations, which originated in Nigeria but have spread throughout the world," the press release notes.

"Some of the people arrested in Operation Wire Wire were Nigerian nationals living in the U.S."

"Sessions also "expressed gratitude" to the law enforcement officials in Nigeria who worked with them to "curb" BEC schemes."

Federal authorities have arrested dozens of people for allegedly hijacking or intercepting wire transfers through sophisticated email scams, the Department of Justice (DOJ) announced Monday.

Read More.... http://thehill.com/policy/cybersecurity/391657-federal-authorities-seek-to-disrupt-hackers-business-email-schemes

So sad that a supposed follower of Christ is saying this. What is the difference between a "Christian" that reasons this way and a member of ISIS? Jesus came to show us how to live our lives. He suffered and was killed by this same Israelites that all of you now worship. It is only out of ignorance that anyone will believe that Isreal is still God's chosen people. Jesus was very clear when he gave his disciples charge to go out to every nation to preach. Baptizing anyone who believes. Most people don't even know that Jews don't believe in Jesus. Which is why they are not Christians.
One will think that judging by the evils of holocaust suffered by Jews in the past, a Jewish nation like Israel should be in the forefront of justice to all and not using your might to trample on the weak just because you can.

You can't continually oppress people and expect them not to react. When they do, you call them terrorist. But it is okay to block them off from the rest of the world. And control every inch of their being with your military might.

Tell me how you would feel if assuming, the Housa's block off the Easterners to only the east. You cannot travel outside the east, no incoming or outgoing flights, train, ship or road transport? And they decide what comes into the east or out from the east.

Think very well and seek knowledge before you jump into ing a side.

There is no reason the 2 nations cannot coexist in peace if the stronger party so wish. What is lacking is Justice.

Princeofnigeria:
Wow I'm so happy.



Let the uncircumcised death toll keep rising.
I want to see 2000 by tomorrow.
God punish them. Una think say na Nigeria


The God of Israel is alive.



I watched the opening prayer of today event to US+Jerusalem embassy opening.

The God of Christians is amazing

Dude is so daft and dumb. Just checkout how much he paid out each time and how much he agreed to work for? N520,000 all to end up in Lybya. 120,000 to dinars for bail. Worked for 600 dinars instead of 4000 dinars (Mind you he worked without negotiating pay. Had to ask his boss to calculate the pay at the end of the month). Jailed severally and he still considers that a good life?
Dude kept repeating that he is a professional. He should be returned to the shores of Libya. Does he think government owes him anything personally?

kingxsamz:


direct ur anger to the government...

Do you know why Churches and other NGOs are exempt from paying Taxes to Government? It is because they are expected to use the money for public welfare. They are supposed to help government indirectly by helping the people around them. In other-words, they are expected to give back to the society by doing "good deeds" e.g Provide affordable schools, Medical facilities etc.
Question is, How have they been giving back to the society?

Solomonudofia:
A Turkish diplomat and special adviser to Nnamdi Kanu, Abdulkadir Erkahraman in a video clip released this afternoon in all the IPOB Facebook group stated that Nnamdi Kanu is fine and that Nigerians should stop asking about his whereabouts . he said,

Good day brothers and sisters today 5th October 2017, everybody is asking of the whereabouts of the IPOB leader, our brother his excellency Mazi Nnamdi Kanu, i will like to inform you from here that he is very very fine but because of security reasons no body should know where he is at the moment, so stop asking of his whereabouts because he is fine and his family are fine too ,

He went further to speak on so many other issues concerning IPOB, Biafra, Nnamdi Kanu and also disclosed to them (ipob ) what their next move will be and how they will tackle Nigeria Government. the video clip below give you the detail .......

This guy is NOT any Diplomat. He is claiming what he is not. He is just another big fraud.

Biafra: Turkish government denies ing IPOB, disowns ‘diplomat’
http://politicsngr.com/2017/09/17/biafra-turkish-government-denies-ing-ipob-disowns-diplomat/

"In a statement released by the Turkish Embassy, the government of Turkey also disowned one Abdulkadir Erkahraman, who was being paraded by Nnamdi Kanu and his group as a ‘Turkish diplomat’. The statement read;

“The Embassy of the Republic of Turkey wishes to inform the Nigerian public about the following:

Abdülkadir Erkahraman, a Turkish citizen, has been sharing videos for some time against the Nigerian Government and presents himself as a Turkish diplomat.

Mr. Abdülkadir Erkahraman is neither a diplomat nor a civil servant or an official representative of the Government of Turkey."

nwakibie3:
Why not voters card inclusive

"Data expected to be harmonized included the Subscriber Identification Module (SIM) card registration being handled by the Nigerian Communication Commission (NCC); Bank Verification Number (BVN); Drivers Licence from the Federal Road Safety Commission (FRSC); and voters card number among others."

oshemus:
Nigeria is not ripe for this. If someone hacks into the database they can cause a lot of damage.

Did you all notice how they avoided linking it to voters card, so that they can continue to duplicate it. Politicians sef

"Data expected to be harmonized included the Subscriber Identification Module (SIM) card registration being handled by the Nigerian Communication Commission (NCC); Bank Verification Number (BVN); Drivers Licence from the Federal Road Safety Commission (FRSC); and voters card number among others."

My Sister has been trying to book an appointment for US Visa interview for over a week now without success.
When you click on the Calendar to select an available date, The Calendar screen pops up but it is blank with no dates. Then below you see "Submit" and "Cancel".

She has called them to report this several times and have also sent several mails. The respond and tell her it has been escalated and later that it has been fixed. She checks and it is still the same issue. We have tried with different browsers, different computers, different locations and even different time of the day with no luck.

I want to know if any other person is experiencing this issue?

See image of the site below.

owobokiri:
The politics of the second Niger bridge has ran its full course... If anybody thinks that because of the emotional attachment of the everage easterner to the reconstruction of that bridge, he can now perpetualluy use that as some kind of politcal bait to lure easterners into enjoying a poltical kiss with a desert iguana come 2019, that person is living in a fools paradise.. You want to biuld oo, you biuld..., you dont want to biuld ooo. na your wahala... At the appropriate time, full consequences will be metted out for the unparralled level of political/economic victimization directed at the igbo by a litany of grossly inept Abuja governments.

How much of the IGBO votes got PMB elected in the first place? Can you all stop all this delusional thoughts of self-importance already!.
The foolishness of some of you has succeeded in making Igbos alienate itself to political oblivion. You better shape in or remain irrelevant politically. You allow your hate to rule your brain. Have you not heard of "No permanent enemy in politics"? How do you think Igbos will get relevant politically without forming alliance with either Yorubas or the North? God! I feel so ashamed to identify with you people. The ignorance is mind boggling.

Deep Soul:


How sustainable is this free education programme?

What'll happen when Rochas leaves power? Will his predecessor continue or scrap it as is the norm.

We all know how Nigerian leaders lack continuity.

Again I ask, how sustainable is it?

Ok, Until your questions are answered, lets all fold our arms, reject the free education and demand an answer to your questions!

Lagos (WorldStage Newsonline)-- A Federal High Court in Lagos on Tuesday granted the request of the former Managing Director of Intercontinental Bank, Erastus Akingbola by stopping the planned sale of the bank to a rival Access Bank.

Intercontinental Bank, one of the banks rescued by the Central Bank of Nigeria in 2009 had earlier signed a memorandum of understanding to merge with Access Bank.

But the embattled bank chief and Bayo Dada secured an ex-parte order from Justice Okechukwu Okeke who also restrained the Central Bank of Nigeria (CBN) from disposing or altering the shareholding structure of Intercontinental Bank in favour of Access Bank.

The court also restrained Intercontinental Bank and Access Bank from taking further step (s) on the purported Memorandum of Understanding (MoU) for business combinations signed by the two banks.

The judge's orders are to subsist pending the hearing and determination of a suit filed by Akingbola and Dada.

The two men in the fresh suit are challenging the propriety of the MoU signed by Intercontinental Bank and Access Bank without recourse to them as shareholders of Intercontinental Bank.

Specifically the court restrained Access Bank, its agents, servants or privies from acquiring the shares or taking over the business operations of Intercontinental Bank and its assets pursuant to the purported MoU.

Justice Okeke further made order for substituted service of the main suit and the ex-parte orders on the defendants.

The court, however, ordered the plaintiffs to file an undertaking to pay damages to the defendants in the event that it later turn out that the orders ought not to have been made, while it further fixed June 8 for hearing of the motion on notice filed by Akingbola and Dada.

The former bank chiefs had listed Intercontinental Bank and its Managing Director, Mahmoud Lai Alabi and other directors – Abubakar Sule, Gbenga Alade, Olusegun Osilowo and Suleiman Yusuf as co-defendnats.

Others included Intercontinental Bank’s chairman, Raymond Obieri, Seinye Lulu-Briggs, Toyin Philips, Chris Alabi, J.S.P.C Nwokolo, Sanni Adams, Access Bank and CBN.

Akingbola and Dada in an affidavit in of the suit maintained that the Managing Director of Access Bank, Aigboje I. Aig-Imoukhuede and his deputy, Herbert Wigwe are actually indebted to Intercontinental Bank to the tune of N16.247 billion.

The loan, which is said to be outstanding till date, was said to have been procured through a firm, United Alliance Company of Nigeria Limited.

They added that the said United Alliance Company recently wrote a letter dated March 28, 2011 to Alabi (Intercontinental MD) claiming that the debt was N10.2 billion, and requested for a change in repayment date up till December.

Besides, the plaintiffs stressed that Intercontinental Bank had an excellent business reputation which earned the bank meritorious rating by informed industry watchers, but that the fortune of the bank nose-dived when Sanusi sacked them in August 14, 2009 without lawful reason and fair hearing.

The plaintiffs added that the MoU for business combination between Access Bank and Intercontinental Bank was drawn up by the CBN and its Governor, and that the said MoU stipulated that the entire capital of Intercontinental would be cancelled and the bank would be dissolved without winding up.

They are therefore urging the court to set aside all steps and decisions taken by the CBN and its appointees on the board of Intercontinental Bank from August 14, 2009 except those in the ordinary cause of the day to day business operations of the bank.

They are also seeking an order nullifying a directive from the CBN removing Dada as a director on Intercontinental Bank.

They also want the court to order that a general meeting of the shareholders of Intercontinental Bank should be conveyed for the purposes of electing directors for the bank.

Story by Luke Ajulo (email - [email protected])

http://www.worldstagegroup.com/worldstage/index.php?&id=2887&active=news

@Poster: How true are the prices of phones on your site (www.potechintegrated.com)? And how original are the phones. I Sent email to you guys ([email protected]) to confirm the specifications but never got any response.

Akingbola Returns, May Report to EFCC Today
By Emele Onu, 08.04.2010

Former Vice-Chairman and Chief Executive Officer of Intercontinental Bank Plc, Dr. Erastus Akingbola, made a surprise return to the country yesterday and is said to be ready to challenge allegations levelled against him by the Central Bank of Nigeria (CBN). Akingbola, who has been in the United Kingdom since the CBN removed him and other bank CEOs last year, arrived Abuja in the morning. He was received by close family as well as his lawyer, Chief Felix Fagbohungbe (SAN).

"Akingbola's voluntary return to the country is to defend himself of all allegations against him in the law courts. His return shows that he is not afraid to face trial in proper courts of law. He is presently consulting with his legal team and the outcome of these consultations would determine his next steps," a family source said last night, hinting that Akingbola may report to the office of the Economic and Financial Crimes Commission (EFCC) today. Akingbola "emphatically denies all allegations of wrong-doing or improper conduct", the source added, disclosing that the former CEO has challenged the legal validity of his removal from office as Group Chief Executive of the Intercontinental Bank Plc by way of Judicial Review.

On August 14, last year, the CBN governor, Mallam Sanusi Lamido Sanusi, had sacked the senior management teams of five banks - Afribank, Finbank, Intercontinental Bank, Oceanic Bank and Union Bank - and injected N420 billion, saying lax governance had left them dangerously undercapitalised. Akingbola has challenged the legal validity of his removal, maintaining that he was the target of the CBN action. Akingbola and Sanusi had reportedly had some disagreements over de-marketing when Sanusi was the CEO of First Bank of Nigeria Plc. The former Intercontinental Bank boss had alleged that First Bank was de-marketing Intercontinental Bank and even placed an advertorial to that effect in some newspapers but did not mention First Bank or the name of its CEO.

The advert referred to "one of the old generation banks whose CEO had an ambition to become the Governor of the CBN". De-marketing is a term used to describe competitors trying to pull down one another. Akingbola left the country shortly before his removal and EFCC filed charges against him and other directors of the bank. The directors were arraigned by the EFCC on a total of 131-count charge bordering on fraud, concealment and granting loans without adequate collateral running into about N700 billion.

They were alleged to have committed offences contrary to and punishable under Sections Section 20(b) (7), 28 (1,2, and 3), 24 and 50 of the Banks and Other Financial Institutions Act (BOFIA) Cap B3, Laws of the Federation, 2004; Section 422 of the Criminal Code Act, Cap C38 Laws of the Federation, 2004. In a statement earlier this year, Akingbola's counsel, Mr. Charles Nwajagu, had indicated that Akingbola was ready to come back to Nigeria as soon as the suit in London would have been given mention in court, saying that the suit required his personal attention.

The case, mentioned in London court on July 14, 2010, was adjourned till December, 2010. According to the counsel, all the transactions conducted under Akingbola's stewardship were legitimate and lawful and that he never wrongly took or misappropriated any funds whatsoever. He said if there were any allegations against Akingbola, they should be left up to an impartial and fair court to decide, stressing that by resorting to trial in the court of public opinion through the media, his accs are turning themselves into the complainant, the prosecutor and the judge.

"He would like to reassure Nigerians that he is and has always been prepared to come home, once he is sure of his personal safety and that of his family, and confident that no steps will be taken to attempt to implicate him in other crimes as a way of forcing him to withdraw his case in court against the CBN. "His whereabouts are known to the United Kingdom authorities. He is not now or ever been in hiding," said the counsel.

This is a big shame. Lets wait and see how it goes.