IBB must account for $12.4bn oil windfall – Falana

Human rights lawyer, Femi Falana, has called on former Nigerian military head of state, General Ibrahim Babangida (Rtd) to account for how his regime spent the Gulf war windfall of $12.4billion which allegedly got missing. A statement by the Lagos-based lawyer, said: “The point is that Nigerians deserve explanations as to what exactly happened to the accrued oil revenue of $12.4bn which apparently went missing during the Babangida government. “And anyone who loves this country would expect accountability for the missing funds.

No amount of misinformation or misrepresentation of the facts and conclusions of the Okigbo report by anyone can stop the demand by Nigerians for accountability in this matter. The action by the civil society groups is indeed patriotic.”

According to him, based on an Okigbo panel report which made several conclusions on how the money was spent, a petition dated April 7, 2010 by a coalition of civil society groups in the country sought accountability for the money to the new Attorney General of the Federation and Minister of Justice, Mohammed Bello Adoke, asking him to prosecute the former military president. The group, in its petition dated April 7, 2010, threatened to go to court to compel the justice minister to try the former president.

The group comprising Social Economic Rights and Accountability Project (SERAP), Committee for the Defence of Human Rights (CDHR), Access to Justice (AJ), Civil Society Legislative Advocacy Centre (CISLAC), Women Advocates and Documentation Centre (WARDC), Human and Environmental Development Agenda (HEDA) and Nigeria Voters Assembly (VOTAS).
According to Falana, IBB has reportedly said that he “was never indicted by the Okigbo Report,” and that much of the funds went to infrastructural development of the Federal Capital Territory, Abuja.

The lawyer pointed out that Babangida, in a press release titled “Who is Afraid of General Ibrahim Babangida?” signed by his spokesman, Prince Kassim Afegbua denied that he was ever indicted by the Okigbo panel. What the report revealed was that much of the funds were concentrated on infrastructural development of the Federal Capital Territory, Abuja, which it considered was not a priority. According to him, Babangida said the report also called for an overhaul of the Central Bank of Nigeria (CBN) to enable it perform its functions optimally.
 
SUNNEWS

Spring Bank springs back

Spring Bank Plc one of the eight banks rescued by the Central Bank of Nigeria (CBN) late last year has returned to profitability. This disclosure, which was scooped from the bank and confirmed by the Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido last week has restored the investors hope in the bank.

The bank, in line with the vision of the new management has also embarked on training and re-training of staff and also on massive promotion across the entire cadre.

The modest performance level has additionally impacted positively on the share price of the bank at the Nigerian Stoke Exchange (NSE), where the stocks witnessed a significant price rise from 96 kobo in September 2009 to a peak level of N1.32 in January, 2010.
The CBN Governor, who was visibly pleased about the development, said that contrary to criticisms, the intervention of the CBN in the banking industry last August has helped immensely to restore and increase customer confidence.

“I can assure you that the bank has returned to profitability, just like the CBN governor has said. There is a total turnaround in the bank, investors’ confidence has been restored and the investors’ can now be assured of better returns on their investment soonest” a senior official of the bank who pleaded anonymity said.
The top bank executive also said the return to the path of profitability has been made possible by the continued backing of the CBN and other strategies introduced by the Sola Ayodele-led Management from October last year.

Earlier the apex bank’s Governor, Sanusi, while fielding questions in an interview on Channels Television recently saidSpring Bank Plc was one of four rescued banks that posted a profit last February.
The new strategic direction put in place by the administration essentially focused on effective liquidity management, loan recovery, operational efficiency and corporate governance as well as recapitalization.
Accordingly, the bank has been able to achieve a significant improvement on income during the period, while increasing liquidity ratio to about 50 per cent, thereby, doubling the required regulatory minimum of 25 per cent. It has also recorded a steady growth of the deposit base since the takeover in October 2009.

Happy with the early results of these strategies and the hardwork of staff, the Group Managing Director/Chief Executive Officer of the bank, this month, promoted 25 junior staff who have always maintained exceptionally high performance level.

Ayodele said in a statement to staff that the promotion exercise was strictly based on merit and will serve as a motivation to others while helping to renew staff confidence in the bank. She commended the staff of the bank for working assiduously with her administration and encouraged them to work harder towards the timely recapitalization of the bank in order to ensure optimum delivery of stakeholder value.
The Ayodele-led administration took over the management of the bank following the intervention of the Central Bank of Nigeria (CBN) in the banking industry in October last year.


SUNNEWS

HOW TO START MAKING MONEY ONLINE AS A NIGERIAN IN GENUINE WAYS

Before going into the real business of the day, I would like to warn that if you are one of those that take pleasure in defrauding people, I don’t think this useful piece of information is for you.
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Most importantly, try to gather the necessary skills required to excel in any business you wish to start.
Let nobody deceive you, you must show some commitment and hardwork for you to make great progress online. The major difference between working online and offline is that you decide how and when to work online in most cases.
Working online is great because there is nobody to query you or boss you around, and you have the opportunity of getting involved in many opportunities in the shortest period of time.
As a Nigerian, instead of wasting a lot of time on the internet seeking whom to defraud, you can use less time to achieve great things.
Some of the genuine online opportunities you can start today include Blogging, article publishing, affiliate marketing, commodities trading, forex trading, options trading, or you can also join the revenue sharing system organized by Google known as Google adsense.
All the above are some of the genuine ways of earning online especially as a Nigerian, but the most important thing is to acquire the necessary skills needed to excel in each of them. For this reason, I have packaged an e- book that will help you to excel in blogging, article publishing, affiliate marketing, etc, and I am also giving out Forex tutorial manual, a guide on how to make money from the Nigerian Stock Market, Google adsense blueprint and two powerful motivational books as bonuses for purchasing this simple but powerful e-book “THE AFFILIATES GUIDE”
Inside this book, you will learn how to become a better affiliate and make consistent income from affiliate commissions; how you can use a free blog to earn great income; how to earn from publishing articles online, the easiest ways to attract visitors to your webpage, how you can easily sell your own products to greater number of people, etc. Don’t forget that this e- book comes with mouth- watering bonuses that you cannot afford to miss.
This package with all the bonuses will only cost you 2,000 naira(two thousand naira)- the cheapest you can ever get considering the quality of the e-book and the bonuses that come with it.
What you need to start;
• The skills which the e-book will provide.
• A computer with an internet connection.
HURRY AND GRAB A COPY BECAUSE IF YOU DELAY, IT COULD BE DANGEROUS. USE THE PAYMENT DETAILS BELOW TO ORDER FOR YOUR COPY.
Payment details:
Oceanic bank international Plc.
Acct no: 0050001022931.
Acct name: Asiegbu, Tochukwu Ebuka.
After payment, text your name, e mail, teller no to 08064004963 or send a mail to (asiegbutch@yahoo.com) with the subject "Affiliate", and your copy will be forwarded to your e mail address immediately the payment is confirmed.
Have a great online money making experience!!!

Serie A: Roma go top, Milan battle back to draw

AS Roma beat Atalanta 2-1 to hit the Serie A summit for the first time since 2007.


The Giallorossi took advantage of Inter Milan's 2-2 draw at Fiorentina on Saturday to leapfrog them in the standings with a victory at the Stadio Olimpico.
Mirko Vucinic put Roma on their way in the 12th minute before Marco Cassetti doubled the advantage before the half-hour mark. Atalanta striker Simone Tiribocchi reduced arrears in the 53rd minute but Roma held on for a crucial win.
The result lifts Roma one point clear of Inter with five games remaining while Atalanta remain 18th, four points adrift of safety.
AC Milan's title hopes took a huge blow as they were held to a 2-2 draw at home by Catania.
Gaston Maxi Lopez (12 minutes) and Adrian Ricchiuti (43) put the visitors in front, but Marco Borriello netted after 47 and 80 minutes to claim a point.
Palermo remain on course for the coveted fourth-placed finish and a place in next season's Champions League after a 3-1 defeat of Chievo Verona. Marcos put the visitors in front after 18 minutes, but Javier Pastore equalised 10 minutes later and Fabrizio Miccoli scored twice, the first from the penalty spot, to seal victory for Palermo.
Juventus are fifth, three points behind Palermo, after a 1-0 win over Cagliari, courtesy of Giorgio Chiellini's first-half strike. The defender headed in Mauro Camoranesi's cross after 35 minutes to retain the Bianconeri's hopes of Champions League football next term.
Lazio moved six points clear of the relegation zone with a come-from-behind 3-2 win at Bologna. The hosts were 2-0 up after 16 minutes with goals from Roberto Guana and Daniele Portanova, but Stefano Mauri pulled one back before the break. Andre Dias levelled after 63 minutes and Tommaso Rocchi netted a 68th-minute winner.
Siena boosted their survival hopes with a 3-2 win over Bari, but remain in the relegation zone. Abdelkader Ghezzal scored twice, cancelling out goals for Emmanuel Rivas and Jose Ignacio Castillo, before Aleandro Rosi netted the winner after 66 minutes.
Livorno slipped closer towards the Serie A trapdoor as a 2-0 home defeat to Udinese left them with a mountain to climb to avoid relegation this season.
Udinese's in-form strikers Alexis Sanchez and Antonio Di Natale scored the goals in the first half to lift the Friulians seven points clear of the bottom three with five games remaining.
Antonio Cassano earned Sampdoria a 1-0 victory over Genoa in the 102nd Genovese derby to take them back into contention for a place in the Champions League next season.
Cassano struck in the 23rd minute to earn the home side all three points with a 1-0 win which took them level with Palermo on 54 points, three ahead of Juventus. Genoa's own hopes of qualifying for Europe took a knock in the process as they slipped six points behind the top six with five games of the season remaining.

World Bank Forecasts 4.8% GDP Growth for Nigeria

The World Bank is estimating that Nigeria's economy will grow by 4.8 per cent this year, up from 4.3 per cent in 2009, its managing director Dr. Ngozi Okonjo-Iweala said yesterday.

The World Bank's outlook was significantly below the Central Bank of Nigeria's forecast of 7.53 per cent last month, and a 6.4 per cent estimate from nine analysts polled by Reuters in January.
Nigeria, once the darling of frontier market investors, hopes its fortunes will improve as the global economy gradually recovers, and after fixing problems in its banking sector rescued in 2009 by the regulator.

"This economy is just waiting for a bedrock of right and consistent policies ... to get some of our sectors going," said Dr. Okonjo-Iweala, the World Bank's managing director for Africa, at an economic conference in Lagos.
To improve the economy in the long run, she said Nigeria's leadership must find a way to solve the country's unemployment problem, especially among its young.

She estimated unemployment for 15-24 year olds at around 31 per cent.
Africa's most populous country of 140 million people will need to create 24 million jobs over the next decade to cut unemployment by half, Okonjo-Iweala said.

"The most worrying is that an estimated 50-60 per cent of our graduates from tertiary institutions cannot find adequate jobs on completion of studies," she said.
The vast majority of Nigerians live on less than $2 a day, despite having Africa's biggest oil and gas industry.
Widespread poverty has led to the growth of militant groups in the oil-producing Niger Delta in recent years, and has helped stoke sectarian tensions in the country's "Middle Belt."

THISDAY NEWS

HOW TO START MAKING MONEY ONLINE AS A NIGERIAN IN GENUINE WAYS

Before going into the real business of the day, I would like to warn that if you are one of those that take pleasure in defrauding people, I don’t think this useful piece of information is for you.
Secondly, don’t force yourself into any business that you know too little about, because you will find it difficult to make much progress in that business. It is also important that you have a genuine interest for anything you wish to start both online and offline.
Most importantly, try to gather the necessary skills required to excel in any business you wish to start.
Let nobody deceive you, you must show some commitment and hardwork for you to make great progress online. The major difference between working online and offline is that you decide how and when to work online in most cases.
Working online is great because there is nobody to query you or boss you around, and you have the opportunity of getting involved in many opportunities in the shortest period of time.
As a Nigerian, instead of wasting a lot of time on the internet seeking whom to defraud, you can use less time to achieve great things.
Some of the genuine online opportunities you can start today include Blogging, article publishing, affiliate marketing, commodities trading, forex trading, options trading, or you can also join the revenue sharing system organized by Google known as Google adsense.
All the above are some of the genuine ways of earning online especially as a Nigerian, but the most important thing is to acquire the necessary skills needed to excel in each of them. For this reason, I have packaged an e- book that will help you to excel in blogging, article publishing, affiliate marketing, etc, and I am also giving out Forex tutorial manual, a guide on how to make money from the Nigerian Stock Market, Google adsense blueprint and two powerful motivational books as bonuses for purchasing this simple but powerful e-book “THE AFFILIATES GUIDE”
Inside this book, you will learn how to become a better affiliate and make consistent income from affiliate commissions; how you can use a free blog to earn great income; how to earn from publishing articles online, the easiest ways to attract visitors to your webpage, how you can easily sell your own products to greater number of people, etc. Don’t forget that this e- book comes with mouth- watering bonuses that you cannot afford to miss.
This package with all the bonuses will only cost you 2,000 naira(two thousand naira)- the cheapest you can ever get considering the quality of the e-book and the bonuses that come with it.
What you need to start;
• The skills which the e-book will provide.
• A computer with an internet connection.
HURRY AND GRAB A COPY BECAUSE IF YOU DELAY, IT COULD BE DANGEROUS. USE THE PAYMENT DETAILS BELOW TO ORDER FOR YOUR COPY.
Payment details:
Oceanic bank international Plc.
Acct no: 0050001022931.
Acct name: Asiegbu, Tochukwu Ebuka.
After payment, text your name, e mail, teller no to 08064004963 or send a mail to (asiegbutch@yahoo.com) with the subject "Affiliate", and your copy will be forwarded to your e mail address immediately the payment is confirmed.
Have a great online money making experience!!!

Yar’Adua’s N70bn missing

Fresh troubles may be in the horizon for members of the kitchen cabinet of ailing President Umaru Yar’Adua as they are said to be explaining how they disbursed a whopping N70 billion allegedly on behalf of the former Katsina governor as security vote between November 2009 and January 2010.

Sources claimed that two former close allies of the ailing leader who failed to make it back to the newly reconstituted cabinet by acting President Goodluck Jonathan, are said to be answering questions over the manner the money was spent and for what purpose.

Yar’Adua left the country for Saudi Arabia on November 23,2009 and was spirited back into the country after spending 93 days at King Faisal specialist Hospital where he received treatment for acute pericarditis.
Security sources also added that the passports of the two former Presidential aides have also been impounded.

Although the name of a third top aide of the ailing leader also, allegedly, came up during the investigation into how the money was spent when the President was on sick bed in a Saudi hospital, the source could not confirm whether his passport has equally been seized.
The seizure of the passports, it was learnt, was to frustrate the former key members of Yar’Adua’s cabal “from fleeing the country and compromise efforts by the Goodluck Jonathan’s administration to hold some former cabinet members accountable for their deeds while Yar’Adua was away”.

Sources claimed that the two aides were responsible for the disbursement of the money while Aondoakaa also gave endorsement to some of the spending. They, allegedly, disbursed huge sums of money running into billions while Yar’Adua was in Saudi Arabia.
The source said, “ before the budget was signed in December 2009, one of the aides who happens to be a point man to Yar’Adua allegedly spent over N16 billion without recourse to the then Vice President, while the other allegedly gave his consent to the disbursements.

Sources said that while part of the N70 billion went into the fight to sustain the Yar’Adua Presidency during his sojourn in the Saudi Hospital, a huge chunk of it went into private pockets and were salted away into some foreign accounts.

The source added that the missing fund is believed to have been used to fund the unrelenting propaganda embarked on during Yar’Adua’s stay in Saudi Arabia and since he was brought back to Abuja.
Part of the money, it was learnt was also used to sponsor various litigations to challenge the proclamation of Jonathan as acting President.
 


  SUNNEWS

Mourinho hits out at press

Jose Mourinho has stoked his feud with the Italian media by issuing a terse statement ahead of Inter Milan's Serie A clash with Bologna.
The former Chelsea boss has endured a difficult relationship with the press since his move to Italy and it has worsened in recent weeks.
Mourinho, who has often declined to attend press conferences, answered questions from fans on the Inter Channel this week and the media have seized on one of his comments.
Asked whether the title race was now a three-horse race following his side's recent poor run, Mourinho said: "I don't want to talk about the championship. It's not a three-horse race. It's a fight between one team and many other things."
The press interpreted this as a dig at the football authorities, of whom he has fallen foul on a number of occasions this season, but Mourinho said in a statement on the club's official website: "Who changed my words, 'many other things'? Not me.
"Don't I even have the right to talk to the Inter fans without someone poking their nose in at all costs???"
He then continued with a message to his club's supporters, saying: "Tomorrow it's just us: tired, injured, suspended. Us, who, together with you, have to win a very difficult match against Bologna.
"Sincere thanks to all the fans for the support and the great passion that they transmit to us, and that we all feel."
Meanwhile, Mourinho has named Mario Balotelli in his squad for the first time in nearly a month.
The 19-year-old, who has been linked with a move to AC Milan, reportedly infuriated Mourinho by donning a Rossoneri jersey during a television show last month but this week issued a statement apologising for his part in the spat.
Inter have four players suspended for the Bologna clash - Samuel Eto'o, Maicon, Lucio and Javier Zanetti - while Wesley Sneijder is battling an injured ankle.

Benfica beat ten-man Reds

Ten-man Liverpool were undone by two harsh penalty decisions and an at-times shambolic refereeing display as they lost 2-1 to Benfica in a hostile Europa League quarter-final first leg in Lisbon.
Daniel Agger gave his side the perfect start in the ninth minute but things took a turn for the worse when Ryan Babel was dismissed on the half-hour for thrusting a hand in Luisao's face.
Oscar Cardozo wasted numerous chances before converting two spot-kicks but with an away goal Rafael Benitez's side still have hope for the return leg.
Fulham moved one step closer to a fairytale Europa League semi-final after they recorded a 2-1 win over German champions Wolfsburg at Craven Cottage.
A late goal from Alexander Madlung tainted the night for Roy Hodgson's side, who had taken the lead thanks to two second half goals from Bobby Zamora and Damien Duff.
Zamora's 18th of the season was followed by a controversial cupped-ear celebration aimed at the home fans before the striker played in Duff for Fulham's second.
The Cottagers looked set for a two goal victory margin before Madlung rose to beat Mark Schwarzer just before the death to leave the tie finely poised going into next week's second leg in Germany.
Hamburg kept alive their dreams of playing in the Europa League final at their home stadium by edging their quarter-final first leg against Standard Liege 2-1.
The Belgian side took the lead after 31 minutes through Dieumerci Mbokani but Mladen Petric equalised from the spot for HSV three minutes before the interval and Ruud van Nistelrooy completed the turnaround on the stroke of half-time.
Spanish rivals Valencia and Atletico Madrid produced an entertaining 2-2 draw at the Mestalla to leave all to play for in the second leg of their Europa League quarter-final tie.
All the goals were scored in the second half, with Atletico twice going ahead through Diego Forlan and Antonio Lopez, and Valencia equalising each time thanks to goals from Manuel Fernandes and David Villa.
 ESPNSOCCERNET

Fabregas has suspected broken leg

Arsenal captain Cesc Fabregas fears his season is over after suffering a suspected broken leg during Arsenal's dramatic 2-2 Champions League quarter-final draw against Barcelona at Emirates Stadium.

Fabregas was a surprise starter in the first leg tie at the Emirates Stadium after he shook off a knee injury to line-up against his boyhood idols but hobbled off after firing in an equalising penalty in the 85th minute.
The Spanish midfielder revealed to reporters after the game that he "felt his leg go" and fears his season and maybe even his World Cup dreams have been damaged by his heroics.
"I fear the worst, which is that I have broken something," Fabregas said. "We have to wait for tomorrow, but I hope I can wear the Arsenal shirt again this season.
Fabregas, who left stadium on crutches, added: "I do not think it is going to be good news, but still I hope there will be.
"When I took the penalty, I was quite strong, but after when I went to get the ball, I could not walk any more.
"It is the fibula. I think I put my leg between Puyol's when I was fouled, and kicked it."
Fabregas added: "Until the penalty, I was feeling quite good. It has been an amazing experience and I will remember it for the rest of my life."
The Arsenal skipper had an x-ray straight after the match but the scans proved inconclusive and he will undergo further tests on Thursday morning to assess the full extent of the damage.
Arsenal manager Arsene Wenger said: "It looks like he will be out for a while."
Fabregas' injury was not the only blow to Wenger on a night when he also lost Andrei Arshavin and William Gallas.

Wenger told French TV: "He [Gallas] pulled his calf muscle and I think it's the end of the season for him."