CBN TAKES OVER SKYE BANK, SACKS BOARD MEMBERS.

CBN Governor: Godwin Emefiele
Image:thisdaylive.com
The Central Bank of Nigeria(CBN) has dissolved and partially
taken over the management board at one of Nigeria's commercial
banks-Skye Bank. The Governor of the bank Godwin Emefiele disclosed in
a conference in Lagos on monday that the decision was reached after
CBN realised that Skye Bank Plc had failed to maintain the minimum key
liquidity and adequate capital ratios for a long period. Leading the
bank into a more "unhealthy condition."
Governor Emefiele said that a new board had been appointed for
the bank. The new Managing Director/CEO is Mr. Adetokunbo Abiru, a
Hazard Business School graduate who was the head of the investment
banking unit at FirstBank Plc. His appointment follows the resignation
of Group Managing Director-Timothy Oguntayo and Board
Chairman-Olatunde Ayeni.
The new board chairman is Muhammad K. Ahmad, the Pioneer Director
General of the National Pension Commission.
Governor Emefiele assured those present at the briefing in Lagos
that the appointments were solely to rescue the institution, before
things got to an irreversible point. He also announced the sacking of
all non-executive directors, independent directors,deputy managing
director and a couple of the longest serving executive directors at
the bank. Except for the most recently appointed executive directors,
who were only retained to aid continuity and seamless transition.
According to a report from Governor Emefiele, the 'proactive
moves' had to be taken after Skye Bank Plc consistently failed to meet
certain threshold requirements in 'prudential and adequacy ratios'.
Also the Bank's liquidity and non-performing loans have been at very
low levels for a long time. And this has resulted in Skye always
borrowing from the apex bank.
He also added, that reports from market watchers, financial analysts
and expectations from shareholders have shown that the bank should be
doing far better than now. And that CBN had met with the board of the
bank, he said a long grace period had been given to the bank, enough
for the former board and management to steer the ship aright. But
after all, the realisation had dawned in that the board was not
capable of salvaging the bank's critical condition. And so in the
interest of the bank "the chairman and some board members of the bank
have tendered their resignation".
Muhammad K. Ahmad, the new chairman of the bank is experienced
and well versed in the public sector with over three decades of
experience serving in financial services industry. He has been on the
board of many institutions and companies including banks. In a
statement after his appointment, Ahmad said that there were high hopes
that the Bank could attain glory again. He said that the bank had the
resources to deepen and expand commercial and retail services in the
banking sector and on a large scale-economy wise. He said that the
first mission of the board was to begin immediate restructuring of all
units at the bank. And also improve the trust of stakeholders again.
He stated his full commitments to preserve the interests and
investments of stakeholders.

Follow on twitter: twitter.com/topntrending

Read More

THE STRUGGLE CONTINUES! AFTER BEING SUSPENDED BY GOOGLE AND TWITTER, AVENGERS ARE ON FACEBOOK.

On sunday, social networking website twitter, suspended the
account of Niger Delta Avengers because it contrevened its rules. In
the same line Google deleted their blog from its search index. But the
Niger Delta Avengers have been bold to come out and announce that
their accouts have been blocked and that they are now available on
facebook. Where they would pasting their updates from now on.

Last night, they announced on their facebook page that they had
blown up oil facilities belonging to NNPC,NDPC and Chevron. The Niger
Delta Avengers have disclosed that the main reason why they have
continued their attacks despite arranged negotiations with the Federal
Government is because the Federal government had failed in its own
part of the deal. That is, the Federal had continued to turn the blind
eye to the needs and sufferings of the indegenes of the Niger Delta
region.
Meanwhile, another militant group, Ultimate Warriors of Niger
Delta have announced their intent to pull out of the ceasefire
agreement with the federal government, terming it a 'diversion trick'.
The group spokesman of the Ultimate warriors has sent a warning to
Buhari, telling him that their activities which is as a result of his
policy reversal will only have a boomerang effect on him.
Twitter suspended the account of Avengers group because it had
been using it to announce and promote its attacks of government
interest. This clearly contravenes rules stated in its terms that "You
may not make any threats of violence or promote violence, including
terrorism". Google, obviously for similar reservations about the
activities of the group and for its interests in Nigeria also deleted
their blog. They have now fully migrated to the largest and most
"free" social network on earth.

Follow on twitter @ twitter.com/topntrending

Read More

WOLE SOYINKA'S CLASSIC WILL FEATURE JIDE KOSOKO IN "THE TRIALS OF BROTHER JERO"

Live Theatre on Sunday production will on July 8th and July 9th
present Wole Soyinka's 1960's master piece, the comedy- "The Trials of
brother Jero". The play will be presented at the Radisson Blu
Anchorage Hotel, Ozumba Mbadiwe street, Victoria Island Lagos.
The play was written by Nigeria's nobel prize winner Wole Soyinka,
and was first published in 1969. The Play was inspired by the writer's
urge to potray the level of greed in the society, but in a comic way,
meant to relax an audience. The hilarious comedy features the antics
and incredulous activitiesof a young self acclaimed prophet named
Brother Jero on the Lagos beach(Which is no more functioning).
The play is directed by and will feature many popular actors in
the industries. The play is directed by: Kenneth Uphopho( also
directed Saro The Musical,London life.) And produced by Adenugba
Oluwashola.
Actors:
*Oreka Godis(Host Urban FM and Ebony life TV's love lounge).
*EMMAOHMYGOD(entertainment celebrity)
*Jide Kosoko(Nollywood actor)
*Patrick Diabuah(Featured in Saro The Musical)
*Debble Ohiri(Woman Hear Word)
*Goodness Emmanuel(Actress and celebrity; Band Aid, Shattered).
And a host of so many yet unknown talents.
Tickets are currently on sale at Terrakulture at N5000 for regular
seat and N15000 for Prestige Class. The play is sponsored by MTN and
supported by Naij.com,AXA Mansaard, UBER, Stanbic IBTC Bank, Beat FM,
Startimes, African Movie Channel, Pulse NG, Swift Networks, Seven Up
bottling company PLC, Ynaija, Red Group, Cool FM and more.
For more info and tickets reservation please tweet to
@livetheatreonsunday or simply call the number: 08147453598.
Source:ynaija.com

Follow @ twitter.com/topntrending

Read More

MUSLIM HOLY SITE BOMBED IN SAUDI ARABIA.

Photo:guardian.co.uk
Just yesterday monday June 4, 2016, two suicide bombers killed
four Saudi security agents just outside Prophet Mohammed's mosque in
the city of Medina. The location of the Mosque is on of the two most
revered sites in Islam. The bombing which happened at car park, very
near the massive complex of the worship site happens to be the latest
in the run of attacks in Saudi lately.
Earlier that morning, the vigilant Saudi security had managed to
foil a suicide bomb attempt at the US Consulate in Jeddah, while in
another province a suicide bomber struck before sunset of the same
day.
The images of the Medina suicide attempt,went viral on the
social media in the afternoon, the images and footage showed thick
heavy smoke billowing near the mosque, and two security forces lying
unmoving. A few people were also injured.
No responsibilities have been claimed for the attack, but
immediate previous attacks have been in line with ISIS mode of
operations, targeting Shia muslims, and US operatives in Saudi, and
also Saudi interests that conflict with theirs. The man who carried
out the attack in Medina has been identified as a middle aged Abdullah
Khan who migrated to the Kingdom of Saudi Arabia 12 years ago.
Reports were leaked out days ago, that ISIS had urged their
members not to relent in their attacks towards the end of the
Rammadan. And during the last seven days of the fasting period,
muslims usually flock Mecca and Medina for the minor
pilgrimage(Umrah).
Muslims all over are in shock over the incident. In the past two
weeks, ISIS has claimed responsibility for attacks in Dhaka, Istanbul
airport and Baghdad, probably as part of an agenda to expand their
scope away from a battlefield where they have suffered so much
defeat(Syria). And recently, they've been launching direct attacks on
the Saudi Arabian government. But an attack on one of Islam's most
revered sites, a sacred site that contains the tombs of the Great
Prophet Mohammed, and the two first Caliphs is just out of the way.
And right now attacks are being aimed at a sect of muslims
called shia muslims, who are regarded by islamists as inferior or
'counterfeit' muslims. It was apparent that the suicide bomber planned
to strike at a time when thousands of pilgrims would gather at the
site for the sunset prayers.
Follow us on twitter! twitter.com/topntrending

Read More

THANKS TO NCC, YOU CAN NOW STOP THOSE 'ANNOYING' MESSAGES FROM YOUR SERVICE PROVIDER.

Following strict directives handed to the all telecommunication
networks from the regulatory board of the Nigerian Communications
Commission, operators/service providers will from July 1, will have to
activate the "DO NOT DISTURB" facility for users to access with their
mobiles. And this will give subscribers the freedom to pick a choice
of the SMS service they would like to receive.
On this, the networks have been mandated to dedicate a specific
short code (2442) that will enable subscribers make their preferred
choice of service. The public affairs department of the commission
said the decision was reached after incessant complaints from users
concerning the nuisance of unsolicited text messages from their
service providers.
The director of the public affairs unit Tony Ojobo, said that NCC
was now calling on a regulatory provision o be enforced on all network
provider, the provision will now categorise the type of text messages
to be received by users and subscribers based on user's choice he also
added that the categories will be based on a broad of services
including Banking/insurance/finance, Sports, Real Estate, Consumer
goods,Automobiles and other products, health and food, Fashion,
Communication/Broadcasting, Travel/tourism,
celebrity/leisure/inspirational tips/art and others.
And also users could 'totally' unsubscribe from receiving any
service message by sending "STOP" to the shortcode-2442. And
automatically will stop receiving any unsolicited messages.
There are a few options and service codes that
were listed by NCC. For example:

To receive SMS related to *Banking/Insurance/and other Financial
packages, send "SMS 1" to 2442.
*For health,food and environment information, send "SMS 4" to 2442
*For tourism, and leisure send "SMS7" to 2442

Mr. Tony Ojobo said that these shortcodes may be subject to
change by the networks for optimisation of user end to end service,
but it still does not affect the provision to make suitable and
informed choices. He also urged the telecom networks to comply with
and enforce the new rules in their services. Warning that they should
desist from harassing customers in the name service subscription.

SIDE KICK:
Its not just the text messages, I think those 'stupid' phone
calls from these service providers should also be stopped. They are
even more annoying than the text messages. It can really be funny and
irritating when you are counting the hours on your time anxiously
waiting and expecting to see a credit alert on your phone before 4pm
bank closing time and all you keep on receiving is messages from
service providers. Annoyance would be understatement here.
Thanks to NCC for coming to the rescue, sometime ago I was even
discussing with a friend on a possible computer algorithm or app that
could block those messages And I'm sure if we had created it,we would
have been the next Bill Gates and Mark Zuckerberg of Nigeria!
Follow us on twitter! twitter.com/topntrending

Read More

TOP 'n' TRENDING: BUHARI IS KILLING DEMOCRACY IN NIGERIA- Enugu Trad...

TOP 'n' TRENDING: BUHARI IS KILLING DEMOCRACY IN NIGERIA- Enugu Trad...: "Nigeria's democracy is under serious threat if Buhari's
unforgiving spirit goes unchecked".
A traditional ruler i...

Read More

NSCIA DECLARES TOMORROW AS EID-EL-FITR.

The President of the Nigerian Supreme Council for Islamic
Affairs has declared tomorrow July 6, 2016 as the date for Eid-el-Fitr
in Nigeria. The President General of the association who also doubles
as the Sultan of Sokoto made the announcement yesterday and also added
that the new moon of Shawwal had not been sighed anywhere in Nigeria.
The President General Sa'ad Abubakar has not been seen in the country
for days.
Abubakar therefore enjoins all muslims to observe the fast on
tuesday and also their eid prayers on wednesday July 6. Earlier, the
NSCIA had told all Nigerian muslims to look for the moon between
Sunday and Monday for the Eid-el-Fitr. And on Sunday the secretary
general of the association in a statement released to the public
enjoined all muslims to search for the moon.
Other countries like Saudi-Arabia have already announced wednesday
as their Eid-el-Fitr. The celebrations are used to mark the end of a
month long Rammadan fast by muslims. In Nigeria, the Rammadan fasts
began on monday, June 6.

What you need to know about the Rammadan
The Rammadan is a period of fasting, prayers and meditation observed
by all muslims. It is seen and highly regarded as a sacred period, and
its believed to be the period when the mysteries of the Quran were
revealed to the lowly state of mankind. The Rammadan fasting is a bit
unique, as muslims during this period fast only in the day time. That
is, they are not allowed to it or drink anything at all. Its also a
time for meditation and frequent visits to the mosque for prayers.
Rammadan is a time for muslims to reflect on their lifestyles and work
on their whole persons. The Quaran states that " he who is not willing
to give up false statements and evil deeds is not fit to give up
eating and drinking" meaning that during the fast you must work on
discipline.
The iftaar
The iftaar is a period at the end of each day of fasting during the
Rammadan when families gather to end the fast. Iftaar literally
translates to "break fast". Its usually a family thing, but there
could also be communal and charity feasts at mosques and other
centres.
For the exceptions, there are variations, but as a convention
(and as stated in the Quran), pregnant women,the elderly, top
performing athletes and the diabetics are exempted. Children too, but
sometimes children participate with their parents on half fasts.
On Eid-el-Fitr, muslims will gather at the mosque to say their
final prayers for a successful fasting period and then go on to spend
the rest of the day with families and relatives. With everyone wishing
the other "Eid-mubarak". In core muslim states, the eid holiday span
3-5 days at a stretch.
Share this post!
Follow: twitter.com/topntrending

Read More