Sahara Weekly Magazine

Category: Editorial

FirstBank partners Asian Banker to host West Africa International Banking Convention 2016

In line with its commitment to the realization of a sustainable and competitive retail banking environment in West Africa, First Bank of Nigeria Limited, Nigeria’s most valuable bank brand has partnered with the Asian Banker Magazine to host the 3rd West Africa International Banking Convention 2016. The event which has the theme “Building a Sustainable and Competitive Retail Banking Infrastructure for West Africa” will hold on June 30, 2016, at Eko Hotels and Suites, Victoria Island, Lagos.

Over 100 senior executives and supporting executives in retail, technology, innovation, operations, strategy and planning are expected to attend the event from West Africa and other regions’ retail banking and payments industries.

The West Africa International Retail Banking Dialogue 2016, the third in the series will be a convergence of global advisory panel contributing policies and insights into the experiences of leading decision makers in West Africa, among whom are: Mr. Emmanuel Daniel, Chairman, The Asian Banker, who will deliver the welcome address; Mr. Gbenga Shobo, Deputy Managing Director, FirstBank, who will deliver a keynote address with the theme: “Global Innovation: Impacting Banking in West Africa” and Matt Dooley, Managing Director, Connected Thinking.

According to Mr. Gbenga Shobo, Deputy Managing Director, First Bank of Nigeria Limited, “the retail banking business is evolving rapidly as a result of heightening competition, increased regulation and changing customer expectations. In view of the large numbers of the unbanked population in West Africa, we will continue to lead the discourse that will lead to new ways of thinking and innovation in bank products and services that will help financial institutions in the region to achieve better service delivery whilst improving their bottom-line”.

He also stated that the effectiveness of FirstBank’s robust retail banking strategy is responsible for its domination of the retail space with a sizeable market share of retail customer deposits at the end of 2015 financial year. “Through our various innovative products and services as well as developmental projects, we have raised the bar in the delivery of unique retail financial products to all levels of customers. We will not relent in our efforts to meet and exceed customers’ expectations as we keep them at the heart of business”.

June 30, 2016
Court invites EFCC, Zenith Bank over Freezing of Governor Fayose’s bank accounts

The Federal High Court, Ado Ekiti, has ordered that the Economic and Financial Crimes Commission (EFCC) and the Zenith Bank must appear on Monday, July 4, to show cause why a motion to de-freeze Governor Ayodele Fayose’s personal accounts with the bank should not be granted.

Justice Taiwo Taiwo, while ruling in a motion ex parte brought before his court by Fayose through his counsel, Chief Mike Ozekhome, said the court also granted leave to the applicants to serve the respondents forthwith at the addresses on the order papers.

Justice Taiwo said: “I am of the opinion that this mandatory order is better granted with the interlocutory order being sought through an application pending before the court, because the applicant has filed all papers to this effect.
“I hereby order the first and second respondents to appear before this honourable court on July 4, and show cause why the order should be refused. This is not a refusal of the order, I have not refused it, but I only put it in abeyance, which I said without prejudice to what will be the position of the respondents.
“But a leave is granted for the service of the defendants with the originating summons in their respective addresses as contained on the order papers.”

Chief Ozekhome had pleaded with the court to grant the motion to de-freeze the two personal accounts belonging to Governor Fayose, saying the alleged illegal act by the EFCC and the second respondent, Zenith Bank, had caused untold hardship to his client.
According to Ozekhome, Governor Fayose had gone to his bank to withdraw some money, but was told he could not do so because there was “an order from above.”

He added: “Fayose said but only God is the one above and any order should come from Him. He said he would remain in the bank until what happened to his account is explained to him in black and white; why he cannot operate his personal account. Hence, the letter which we present as exhibit A.”

He, therefore, through an 18-paragraph affidavit deposed to by Bimpe Olamiju and filed on June 24, asked the court to order, among other things, the de-freezing of the account.

He also sought the leave of the court for the service of the originating summons on the defendants in their various addresses outside the jurisdiction of the court as contained on the order papers, supported by 17-paragraph affidavit.

Delivering his ruling, Justice Taiwo said he quite understood that the applicant (Fayose) enjoyed immunity and that the court could adjudicate on this matter as canvassed by the counsel for the plaintiff, but pointed out that the relief he basically sought was a mandatory order of the court.

“I quite agree that the applicant has immunity pursuant to provisions of the constitution, but it is glaring that the application he is requesting for is a mandatory order to undo what had already been done and the court can’t abdicate its duty under this circumstance,” he said.

June 30, 2016
EFCC receives 300,000 applications for 750 vacant jobs

No fewer than 300,000 applications were received for the 750 positions advertised by the Economic and Financial Crimes Commission (EFCC), the commission has said.

The EFCC’s director of public affairs, Osita Nwaja, announced the figures in Enugu when he visited the Enugu zonal office of the News Agency of Nigeria (NAN).

Mr. Nwaja said that the recruitment was segmented, adding that the first phase of the exercise ended on June 26.

“We had more than 300,000 applicants that applied for the 750 positions which are in three cadres, junior, middle and senior cadres.

“We are considering a whole lot of junior staff so that they will grow in the system.

“The criteria were well spelt out and those that met them wrote the examination,” he said.

Mr. Nwaja said by the recruitment, the EFCC had moved to fortify its ranks in view of the onerous task of fighting corruption.

“The fight against corruption is fundamental to everything we do in this country. It is a fight we cannot afford to lose.

“We must keep on recruiting foot soldiers to meet our objective as it is geared toward the direction of making Nigeria greater,” he said.

The director said that the commission would not fail Nigerians, but could not fight corruption alone.

“We cannot do this alone and that is why we are always reaching out to the media.

“We have found in NAN a veritable ally in this task of curbing corruption in the country.

“We want to leverage on your wide reach, credibility and accessibility to achieve our mandate.

“A lot of work is going on at the zonal office of our commission.

“If this fight against corruption must be won, all Nigerians and institutions must join as this affects the common man,” Mr. Nwaja said.

Responding, the South East Zonal Manager of NAN, Vincent Okwor, said that the agency was open to collaborating with the commission in achieving its mandate.

Mr. Okwor said that the visit would afford the agency and the commission the opportunity to build on the already existing relationship at the zonal level.

He commended the commission for the job it was doing, which he said would go a long way to launder the battered image of the country.

The director was accompanied by the zonal head of public affairs of the commission, James Oluka, and his deputy, Jide Ilupeju.

June 30, 2016
‘I didn’t become a Muslim, I remain a Christian’ – Yinka Ayefele debunks rumours

Gospel Tungba crooner, Yinka Ayefele has debunked the claim that he has converted to Islam. Earlier yesterday, the news of the conversion to Islam of the ace singer went viral with fans both home and abroad making calls to find out the veracity of the claim.

A release issued by his Publicist, David Ajiboye said, Ayefele is still a Christian and has no reason whatsoever to renounce his faith and believe.

“We believe the rumour must have emanated from the annual Ramadan Lecture which Fresh 105.9FM owned by Ayefele organized on Tuesday, in Ibadan.

“Our station, Fresh 105.9FM had invited popular Islamic preacher, Alhaji Muideen Ajani Bello as the Guest Preacher at our annual Ramadan Lecture which had over 4,000 people in attendance and because of this, some naïve minds went to town to spread the rumour about Ayefele’s conversion.”

Ajiboye stated further that the station is for everybody irrespective of your religion, race or colour.
“We believe its part of our social responsibility to organize such a spiritual rebirth programme to sensitize our Muslim listeners on the ideals of Islam most especially in this holy season.”

June 30, 2016
NEW TWIST IN ECOBANK VS HONEYWELL CASE AS BANK APPEALS JUSTICE DAGAT’S RULING

Ecobank Nigeria Limited has appealed a ruling by Justice Jude Dagat of the Federal High Court in Lagos striking out its winding-up petition against Honeywell Group Limited and its sister company Anchorage Leisures Limited.

Justice Dagat delivered the ruling on Monday on the basis that Ecobank’s suit was an abuse of court process.

But, Ecobank, through its lawyer Kunle Ogunba (SAN), has lodged two appeals at the Court of Appeal in Lagos against the companies on seven grounds each.

The bank is praying the court to set aside Justice Dagat’s consolidated ruling striking out the petition, as well as an order directing the Chief Judge of the Federal High Court to re-assign the petition to another judge for hearing.

Ecobank also filed a motion for an order of injunction restraining Honeywell and Anchorage or their agents from taking advantage of Justice Dagat’s ruling as it relates to their funds of all the banks in Nigeria pending the determination of the appeal.

The appellant, in a June 28 letter to Justice Dagat, urged the court to “urgently assign a date for hearing of the duly filed injunction in the interest of justice and in pursuance of the abiding tenet to always hold the scale of justice evenly and balanced between contending parties.”

Ecobank filed the winding-up petition against Honeywell Group’s inability to pay an alleged debt to the tune of N5.5billion.

But the companies filed motion on notice seeking to strike out the petition, following which the court ruled in the companies’ favour.

Ecobank is praying the appellate court to allow its appeal because Justice Dagat erred in law on several grounds.

In one of the grounds, it said the judge occasioned a gross miscarriage of justice and erred in law when it struck out the winding-up petition on the ground that the indebtedness is disputed.

“Learned trial judge occasioned a gross miscarriage of justice by striking out the appellant’s petition on grounds of an alleged repayment made outside contract and on terms vehemently opposed by the appellant,” the bank said.

Ecobank said the judge also erred in holding that its petition amounted to an abuse of court process because of a suit by the companies pending before Justice Mohammed Idris of the same court.

“The exercise of a right to commence a fresh action rather than counter-claim in a previously commenced action by an adversary is not an abuse of court process,” the bank said.

The appellant said Justice Dagat also erred by holding that it did not observe all preconditions in commencing the suit because “there is no precondition to be fulfilled before a party can exercise his constitutional right of recourse to court.”

The bank added: “Rights guaranteed by the Constitution are inalienable, fundamental and ranks higher to all statutory provisions including the provisions of the Companies and Allied Matters Act.”

June 30, 2016
Humble Smith Signs Endorsement Deal With Tummy-Tummy Noodles

2016 is definitely the year for fast rising star, Humble Smith as the versatile and talented song writer and performer, who’s single “Osinachi” takes the competitive Nigerian music industry by storm in 2015 signs multi-millionaire deal with one of Nigerian’s giant and bestselling noodles, Tummy-Tummy.
The signing which took place in Lagos was witness by media personalities and top executives of the Tommy-Tommy Food Industry, which has it’s headquarter in South East, Nigeria.

“We decided to sign Humble Smith as our brand ambassador because Humble Smith best represent and understand what the Tummy-Tummy brand stands for, he has the qualities, capacity and potential to take the Tummy-Tummy brand to the next level” Said, the general manager, Tummy-Tummy Foods Industry, MrChijiokeAnumoka.
Humble Smith whose real names are EkeneIjemba also expressed his appreciation and also pledged his full support in taking the brand forward,
“I am happy to be identify with one of Nigeria’s best noodles, Tummy-Tummy, it’s a great honor to be its brand ambassador, I assured the brand that this would sure be a turnaround for them, and to my super fans, this is for you, the media, I say thank you, my ever creative and hardworking manager, Bob-Kelly Ovie Williams, you are the best, the entire staffs, management and executives of Tummy-Tummy Food Industry, thanks for finding me worthy of this great opportunity. My family, N-Tyze Entertainment, you guys rocks”.
His current single Jukwese is gradually becoming another anthem.

June 29, 2016
“Nobody Stopped Me From Travelling Abroad” – Governor Bello

The Governor of Kogi State, Alhaji Yahaya Bello has described the reports which alleged that he was restrained from travelling abroad as calumnous, stating that he never intended to travel, neither was he stopped by anybody.

The many version story which was scripted by one Mr. Amuda Dan Suleiman was widely shared on Tuesday on the social media, alleging that Bello was restrained from travelling for pilgrimage on the account that he has not paid workers.

The Chief Press Secretary to the Governor, Kingsley Fanwo in a statement on Wednesday, debunked the report, while describing it as sponsored renegades of the opposition.

“The architects came up with so many versions of the story. To some dreamers, Buhari stopped the Governor. To some mischief-brewers, security agencies barred the Governor from travelling. And to the last set of abridged thinkers, Sen. Dino Melaye physically went to the airport to stop the Governor.

“To set the record straight, nobody stopped the Governor from travelling abroad. Nobody would have anyway, because he reserves such right to travel even as salary payments have been ongoing. Only a few MDAs who have not complied with the wagebill integrity are yet to be paid and they are few,” he said.

Fanwo added that the mission of the purportedly sponsored report was to smear the personality of the Governor and cause a distraction in a time where civil servants have refused to embark on strike.

“Governor Yahaya Bello understands that both delivery and distraction are competing for his attention. Yielding to distraction will surely stifle delivery,” he said.

On the delay in payment of salaries, he stated that all hands are on deck to ensure that genuine workers are paid promptly, urging workers to shun reports that there would be retrenchment.

June 29, 2016
BREAKING!!! Court grants Ex- Chief of Air Staff, Adesola Amosun N500 million bail

The Economic and Financial Crimes Commission has arraigned a former Chief of Air Staff, Adesola Amosu, before a Federal High Court in Lagos.

Mr. Amosu, a retired Air Marshal, was arraigned alongside Jacob Adigun, an Air Vice Marshal, and Gbadebo Olugbenga, an Air Commodore on a 26-count of stealing about N50 billion.

The defendants pleaded not guilty to all the charges.

The judge granted them bail in the sum of N500 million each.

Details later….

June 29, 2016
Court dismisses Femi Fani-Kayode suit seeking his release

A High Court of the Federal Capital Territory in Apo, Abuja, on Wednesday dismissed a fundamental human rights enforcement suit filed by a former Minister of Aviation Mr. Femi Fani-Kay‎ode, seeking an order releasing him from the custody of the Economic and Financial Crimes Commission.

Fani-Kayode, the spokesperson for the then Peoples Democratic Party’s Presidential Campaign Organisation‎ for the 2015 election, ‎had filed the suit following his arrest by the EFCC on May 9, 2016 with respect to criminal allegations relating to diversion of funds meant for arms procurement to political campaigns.

The anti-‎graft agency arraigned him alongside a former Minister of Finance, Nenadi Usman, who was the Director of Finance of the campaign organisation‎ and others for money laundering before a Federal High Court in Lagos on Tuesday.

Justice Olukayode Adeniyi delivering judgment on the suit filed by Fani-Kayode to challenge his detention by the EFCC, held that the legal action lacked merit.

The judge held that the detention was not illegal since it was backed by an order of court.

Justice Adeniyi, however, faulted ‎the practice by the EFCC of arresting and detaining a suspect for the purposes of investigation.

June 29, 2016
Drama At Lekki As Man Strips Unclad In Attempt To Get His Seized Bike

As seen on Lekki Phase 1 second roundabout today. The Okada man struggled and took off his clothes in a desperate attempt to get his seized bike back. Eventually they let him go after they failed to restrain him. more photos below;

June 29, 2016