The YNaija Ticker
The YNaija Ticker
The YNaija Ticker
The leadership of Jama’atu Ahl-Sunnati Lil Da’awati Wal Jihad otherwise known as Boko Haram yesterday said that they will no longer dialogue with the Nigerian government led by infidel president, Goodluck Jonathan and his cohorts. Boko Haram’s spokesperson ‘Abul Qaqa’ told local journalists in Hausa language via a telephone conference that the group no longer want peace.
Below is the transcript of “Abu Qaqa’s” Hausa telephone conference:
“This is an important message on the issue that occupied the media in respect of negotiations between our group and the government. Not long ago, President Goodluck Jonathan made a public statement urging us to come forward for dialogue. He also said we should make our demands clear with a view to resolving the protracted problem in the country.The first condition we gave was the need for unconditional release of all our members. There was initial meeting between us and the government and in the process, one of our members, Abul Dardaa was arrested in Kaduna.Since then, we never trusted the government. However, following endless plea by some notable Nigerian, whom we have enormous respect for; we resolved to give another chance. These people said they would intercede between us and the government, they said they have the capacity and we trusted them, unfortunately however, the opportunity was messed up.
“Almighty Allah has told us repeatedly that the unbelievers will never respect the promises they made. As such, henceforth, we would never respect any proposal for dialogue. In fact, we have closed all possible doors of negotiation. We would never listen to any call for negotiations. Let the government forces do whatever they feel they can do and we too would use all the wire withal at our disposal and do what we can. If the government thinks arresting our members will discourage us from launching onslaught, then let them continue arresting and killing our members.
“We strongly believe that Almighty Allah will give us the power to catch and killed government forces. We are optimistic that we would dismantle this government and establish Islamic government in Nigeria. Let the federal government and its agents do what they can; and we in return, would also do what we can.The noble prophet Mohammed was also tried and tested during the war of Uhud, he persevered and at the end of the day, he emerged victorious. The fact is that, we don’t have an element of doubt in our minds that one day; we would surely emerge victorious from this onerous encounter.
“We are calling on all Muslims in this part of the world to accept the clarion call and fight for the restoration of the caliphate of Usman Danfodio which white the white man fought and fragmented. The white man killed prominent Islamic clerics and emirs and also replaced the white Islamic flag with the Union Jack. We want all our people to come together and restore our loss glory.
Below is also few questions he was asked:
Did you consent to Dr Datti’s initiative?
Yes, Datti Ahmed and his people have intimated us that they would make attempt and find a platform on which we would meet with government agents and find solution to the crisis. Datti also assured that he will get back to us on what transpired between his group and the government. We gave him our conditions.
One of our journalists is being threatened, what is your take on this?
We are following unfolding events. Some people threatened a journalists and he was frightened. The truth is that, the same journalist was the very person that created a link between us and the Datti Ahmed group. We want to advice him and all journalists not to be deterred by the threat. Journalists must also adhere to the ethics of their professional calling because, all over the world, everybody knows the role of the journalist. Journalists must remain courageous.We are really involved in the moves made by Dr Datti Ahmed because they gave us adequate assurance that they have the capacity to deliver. However, they (Datti and Co) have seen how deceitful the federal government is. As far as we are concerned, we know that the federal government will not live up to its responsibility. A true believer will not allow himself to be cheated twice.
Why are you backing out now?
The truth is that we have been doubtful on the seriousness and purposeful commitment of the government. It was the Datti group that thought the federal government could be trusted and they have been disappointed.
- Sahara Reporters
Otunba Isaac Durojaiye the former bodyguard and chief security officer to late Bashorun MKO Abiola and widely known as Otunba Gaddafi is dead.
The founder and managing director of DMT (A mobile toilet business company) popular for its “Shit business is serious business” tagline died yesterday, Tuesday March 20th after a brief illness.
- News Bytes
Group Against Corruption in Nigeria [GACN] on Tuesday spoke out against recent allegations of fraud rocking the Ondo State House of Assembly.
The group has demanded that the state Assembly Speaker, Hon. Samuel Adesina to explain how he allegedly mismanaged over N900million within 15 days and threatened to invite the Economic and Financial Crimes Commission [EFCC] if he failed to provide a satisfactory explanation.
According to documents tendered by the group, the money was allegedly spent as follows
“N25million, being amount approved for the printing of 2012 Calendar and with teller No: 00560029, publication of personality profile brochure for ODHA with amount of N12million and teller No: 0056122.
“N24million, being amount approved for fumigation of House of Assembly External and Internal and teller No: 00560016. N18million, being amount approved for a five days retreat at MIC-COM GOLF ADA, Osun State and purchasing of spare parts for Mechanical Workshop with one million.
“N46mllion, being amount approved for the supply and installation of Wireless intercom system with 200 capacity extension [teller No: 00560099] and N36million for purchasing of Back-up perkins generator for the House 500KVA soundproof , supply and installation of 80 units of 60 waits/20VZ security light”.
The National Coordinator of the group, Mr. Morakinyo Ogele accused the Speaker of using his office to loot state funds by awarding contracts through inflation.
He also accused the lawmakers of being idle saying “In Ondo State, the Assembly is not functioning, because they are not performing their primary assignments as legislators, but preferred to be travelling abroad when the state financial system is in sorry state”.
President Goodluck Jonathan Tuesday said he had no preference for any of the candidates contesting for party positions in Saturday’s national convention.
Speaking through his political adviser, Ahmed Gulak, in Abuja on Tuesday, Mr. Jonathan said he would not anoint any candidate would only support whoever emerged winner at the convention.
The PDP national convention is scheduled for Saturday March 24 in Abuja where members of the National Working Committee (NWC) will emerge.
Mr. Gulak said, ‘’Everybody from the North-East geo- political zone has the right to contest the election for the National Chairmanship of the PDP, because Mr President has not given anybody any preference.
‘’No contestant has received any special treatment from him because everybody is on his own and he has not asked anybody to contest or not to contest.
‘’Anybody that emerges as an officer of the party will work with the president and the president is willing to work with anybody.’’
Mr. Gulak said the party was only encouraging internal democracy by adopting a consensus method for the different positions to be filled by delegates from the geo- political zones.
“These positions have been zoned to the six geo-political zones and the senior stakeholders are meeting as a zone to build consensus so that there’ll be less acrimony but if the consensus fails then everybody should subject himself to the delegates and test his popularity.
‘’Nobody will be prevented deliberately from contesting and nobody will be excluded from contesting if he has followed due process.’’
The political aide noted that the zoning of the positions to the different geo-political zones was in line with the practice of Federal Character of the nation.
He debunked any allegations by some party members that some of the contestants were not eligible for the positions they were vying for.
He said ‘’these are political statements because all these people have contributed immensely to the development of the PDP, so all the participants are eligible and qualified.’’
Mr. Gulak, however, promised a hitch-free convention, saying all security operatives were working to ensure that the national convention was successful.
- Premium Times
The internal memos of the Security and Exchange Commission presented Tuesday by the chairman of the House capital market committee, Herman Hembe, to back his claim he had been offered a N30 million bribe by the commission’s embattled Director General, Arunma Oteh, added a new twist to the nauseating saga instead of resolving it.
That the first letter, dated March 1, 2012, originated from the commission, gives the impression that the idea of sending our “forthright lawmakers” money came from the very “clean” SEC. A point there for Mr. Hembe.
That Ms. Oteh, according to the minutes of the letter, approved the memo authorizing the release of N30.4 million for that purpose, further backs that claim. Another point for Mr. Hembe.
Then, within a week or so, the contact has been established with the legislators as Ms. Oteh directed. But unlike what Mr. Hembe claimed on Tuesday, he did not “fight hard to avoid” the offer.
Instead, as the second memo dated March 9, 2012, points out, “the (House)committee welcomed this development and accordingly forwarded a budget estimate” for the public hearing, which co-sponsorship, the SEC had mulled. A point here for Ms. Oteh.
Then, that the commission chose to address “two items only” from the budget- suggesting the lawmakers presented more – again appears to contradict the lawmaker’s claim he fought to reject the offer. Another point for Ms. Oteh.
Meantime, both sides have claimed to have turned down the other’s overtures. Ms. Oteh said she rejected the demands of the house, while Mr. Hembe claims he “fought to avoid” the offer.
But that the lawmakers, whose public heaings are adequately funded by House budgetary provisions, even considered the N30.4million offer as the papers claim tips another point Ms. Oteh’s way.
We await the final verdict on the matter from the House ethics committee. But preliminary evidence suggests there is no saint between SEC and the committee.
- Premium Times
His name might not ring a bell in the music industry nowadays but among the older generation, famed 70’s disco-funk singer Harry Mosco Agada will be sorely missed as the passed away today.
We are told that Harry died in Egypt after being flown there for treatment.
The news of his death was made known by his son, a popular upcoming R&B singer Chike Nosa Agada better known as Chykay who took to twitter to break the sad news.
‘More More Trials , Rest In Peace Harry Mosco, Mr Sugar Cane Baby , My father , My Friend I’ll miss u and remember u 4ever Love U Adieu’, @chykay tweeted hours ago. Chykay was going to premiere his new single ‘Azikiwe’ today.
Former PMAN president and COSON boss Tony Okoroji could not at the time of this report confirm the sad news. ‘I’ll have to confirm this, please call back’, Okoroji said.
Harry Mosco who is remembered for his hit songs ‘Happy birthday’ and the very popular ‘Sugarcane baby’ which was recently remixed by Jesse Jagz.
In 2009, Chykay featured his father on a highlife themed single ‘Love wan tin tin’.
Nura Mustapha, 28, is currently explaining to homicide detectives at the State Criminal Investigative Department, Panti, Yaba, Lagos State, why he was allegedly caught having sex with the corpse of a lady identified as Faith Akin.
Mustapha was arrested early in March after an attendant at the Green Star Hotel, Alaba-Rago, raised an alarm that he would not allow the corpse to be retrieved.
Police officers identified the corpse of the lady as Faith Akin, a resident of Ondo State, who visited her mother in Lagos.
“We have a lot of customers coming with different girls to the hotel but on that fateful day, Mustapha came in about 5.00 pm and booked the room; after about 9.00pm, he brought in this lady and they stayed the night,” said the hotel attendant, who gave his name as Mathew. “Early the next day, before I would hand over to the morning staff, I went round to check the rooms; [and] that was how I saw the lady lying down. I went to touch her but there was no response; I called out to Nura but he did not answer. It was when I came back the second time after I had informed the manager that I saw the customer having sex with the corpse again; I tried to call his attention but he did not respond, so I went to call the police.”
When officers from the Ojo Police Station arrived the scene, it was gathered that the suspect was seen having sex with the unconscious lady. “As soon as we got the complaint from the hotel management, we rushed to the scene of the incident; unfortunately, we experienced the shock of our lives when we saw Nura on top of the lifeless lady still banging (having sex with) her,” said a police officer who did not want his name published.
“We had to drag him from the lady’s corpse before he realised that people had been watching him. It was a terrible thing for such a young man to sleep with a corpse; maybe for ritual purpose but we do not know.”
During questioning, Mustapha allegedly told the police officers that he had taken a sex enhancement drug before inviting the deceased to his hotel room.
“He said he used a local Hausa herb, called ‘burutashe’ to enhance his sexual performance before he had sex with the lady,” said the police source. “The corpse had foam coming out from her mouth; and despite that he kept banging her because the drug made him to have delayed ejaculation. So to satisfy himself, he kept banging the lady; even when he discovered that she was dead, so as to relieve himself.”
- Daily Times
HomePRESS RELEASE 19TH MARCH 2012
PRESS RELEASE 19TH MARCH 2012
FRIVOLOUS ALLEGATIONS AGAINST THE SECURITIES AND EXCHANGE COMMISSION (SEC) & MS ARUNMA OTEH, D-G, SEC
On Tuesday, 13th March 2012, the House of Representatives Committee on Capital Markets and other Institutions commenced a public hearing “to identify the manifest causes of the markets’ near collapse with a view to finding lasting solutions.”
In our belief that such a step aligned with the expectations of most Nigerians, many of whom suffered losses as the equity market plummeted from a capitalization of N12.6 trillion at its peak in March 2008 to N3.99 trillion at its lowest in February 2009, we prepared and presented a submission on the first day of the hearing. (Read here).
We outlined the causes of the market downturn in Nigeria, what steps we have since taken to salvage the market from further decline and what further steps we plan to take to fully restore investor confidence.
Since Ms. Oteh assumed office as SEC DG on 7th January, 2010 she has led a reform programme to restore market integrity and revive investors’ confidence.
These reforms included charging over 260 individuals and entities before the Investment and Securities Tribunal for market abuses that led to the downturn, and seeking orders of disgorgement and restitution of investors.
Based on evidence of financial mismanagement and corporate governance lapses, the SEC in 2010 also replaced the leadership of the Nigerian Stock Exchange (NSE).
As a result, equity market capitalization now stands at N6.6 trillion.
There are also new products, new listing requirements, greater capacity among operators and regulators and a drastic reduction in market infraction among others.
Aware of the sensitivity of the capital market to information, we have generally exercised restraint despite the use of some media publications by some vested interests to tarnish the reputation of the DG and the SEC
These facts are provided to avoid creating room for persons pursuing personal vendetta to damage the reputation of our Director General, to diminish the authority of the apex regulator to fight market infraction and to undermine the integrity of our market.
The DG SEC recognizes the need to follow due process, probity and fairness, given her vigorous war against white-collar crime and other capital market improprieties.
The SEC therefore welcomes investigations by relevant authorities into its operations, actions and processes, as well as requests for information by members of the public.
At the public hearing, several frivolous and false allegations were made against the SEC and the person of Ms Oteh, Director General of the SEC. This release presents the facts as follows:
a. Did Ms Oteh consume a meal of N850,000 or did the SEC pay a meal bill of N850,000 for the DG SEC?
b. Did SEC DG stay at a hotel prior to getting her rented accommodation
c. Did the SEC procure official accommodation for Ms Oteh?
d. Did the SEC purchase four cars for the DG SEC, Ms Oteh?
e. Did SEC or the DG SEC compromise her regulatory function by engaging Access Bank staff?
Did Ms Oteh consume a meal of N850,000 or did the SEC pay a bill of N850,000 for the DG SEC?
Answer: No, Ms Oteh has never consumed a meal worth N850,000 nor has she ever submitted such a bill to the SEC.
The bill referred to at the public hearing related to Ms Oteh’s hotel expenses during her stay at the Hilton following her assumption of duty.
We have reviewed her hotel expenses during her stay, and the highest charge for food was N83,400 on March 24, 2010.
This bill was in respect of an official dinner hosted by the SEC with a group of international capital market experts who were visiting Nigeria to provide technical assistance to SEC Nigeria.
The bill for the official dinner was charged to her room, and therefore the SEC’s account.
This was a single incident, and was not a personal affair. Hilton’s billing records can corroborate this.
Did SEC DG stay at a hotel prior to getting her rented accommodation?
Answer: Yes, and this was in line with the terms and conditions of her employment verbally communicated to her on January 7, 2010 and confirmed in writing on January 11, 2010.
At the time of Ms Oteh’s assumption of duty as SEC DG, she had no home in Abuja.
The official policy of the SEC is to provide official accommodation for the DG. Pending the provision of such residential facility, the DG is lodged in a hotel.
Ms Oteh however voluntarily left the hotel before an official residence could be provided, unhappy with the lack of privacy at a hotel accommodation and for security reasons.
Did the SEC procure official accommodation for Ms Oteh?
Answer: No, she lives in a rented accommodation procured in her personal capacity, on her account.
In accordance with its policy of providing official residential accommodation for its DG, the SEC began on January 7, 2010 to search for official residence for Ms Oteh.
This policy on official accommodation was communicated to Ms Oteh in writing upon assumption of duty.
The transaction referred to at the public hearing was in February 2011, in respect of rental property in Maitama, Abuja at N25 million per annum, actually lower than the going rate of similar property in the area. The transaction collapsed when the property owner required the SEC to pay as much as four years rent in advance.
The issue of high rents has been a source of concern and been the subject of a bill debated on the floor of the House of Representatives. (Read here)
All the negotiations for an official accommodation failed for reasons relating to high cost, availability, and frequently changing terms.
These transactions never materialized; the SEC NEVER leased any property for Ms Oteh.
The SEC was not successful in finding accommodation for the DG. In line with its policy, the Commission offered rental allowance to Ms Oteh in lieu of official accommodation.
Did the SEC purchase four cars for the DG, Ms Oteh at N42 million
Answer: No. She uses the two pool cars assigned to her, one in Lagos and one in Abuja.
Pool cars are official cars that belong to the Commission and used for the purposes of the Commission
Since the DG’s arrival, only two pool cars have been purchased by the SEC and assigned to the DG
The two pool cars were purchased to replace two old cars that were subject to frequent breakdowns.
The purchase of these cars followed due process and the provisions of the public procurement laws.
Did the SEC or DG SEC compromise her regulatory function by engaging Access Bank staff on secondment?
Answer: No. Laid down rules, procedures and processes have been strictly complied with by the SEC since January 2010 (including in the processing of any transaction involving Access Bank). The seconded Access Bank staff were: a project adviser and a communications assistant, and these two areas are not at the core of the SEC’s regulatory function.
Prior to Ms Oteh’s assumption of duty, two independent studies commissioned by the SEC’s Board indicated that there were human capacity gaps at the Commission.
One of the initiatives she took to quickly address the capacity issues was to reach out to development agencies, sister regulators and the private sector for assistance.
This way, the SEC received technical assistance from a multilateral development bank, a sister regulator and the private sector to revamp its sub-optimal ICT infrastructure, to complement the in-house ICT staff.
Equally, the IFC/ESMID provided a Resident Bond Adviser, for 18 months, to help develop the fixed income market.
In addition, the SEC requested and received pro bono secondment of two employees of Access Bank, one a project adviser (on facilities management), the other on brand communication support (communication assistant).
These Access Bank employees have no connection with the core regulatory functions of the Commission in any manner as would create a conflict of interest.
In fact, Access Bank has disclosed the details of the secondment in its 2010 annual report.
The fact that the SEC has bank accounts and investments with a number of banks has not undermined our capacity to regulate or approve transactions relating to them.
The Access Bank secondment in 2010 happened because recruiting full-time staff at the SEC, as in many government agencies, takes a long time. For instance, the SEC’s recent recruitment of 52 Young Professionals lasted one full year.
Note also that Access Bank is primarily regulated by the CBN.
The transaction involving Access Bank that has required the SEC’s approval was that bank’s recent acquisition of Intercontinental Bank.
Most significant securities transactions involving a bank, such as a merger or acquisition, involve shareholders, the Central Bank, the Ministry of Finance, various departments at the SEC and the Federal High Court.
For a merger, an acquisition or takeover, there are laid down procedures for the SEC’s approval.
The DG’s office receives all applications to the SEC, and in the case of a merger or acquisition, forwards it to the Executive Commissioner Operations (ECOP). The ECOP in turn forwards the application to the Director of the Securities and Investments Services (SIS) Division who then forwards the application to the Head, Mergers & Takeover department, the Head, Legal Division of SIS. The Director of SIS receives the analysis of the transaction from M&T and the legal opinion of the Legal Division, both of SIS. The Director SIS then makes a recommendation to the Executive Commissioner, Operations who in turn reviews and either endorses or disapproves the transaction and submits to the DG for final approval. The DG’s decision is based on the recommendations made and is communicated to the parties through the ECOP and Director SIS.
The Access Bank transaction was recommended for approval by all the departments and officers of the SEC who reviewed it.
The other stakeholders including the shareholders, the CBN, the Ministry of Finance and the Federal High Court also approved and endorsed the transaction.
On a review of the SEC’s records, we find that secondment is not a new practice and the public sector.
Indeed as far back as 1988, the DG SEC as a member of the Technical Committee on Privatization endorsed the involvement and appointment of private sector officials in the privatization process.
Securities and Exchange Commission
A journalist in Nigeria mentioned as a possible intermediary in talks between the West African nation’s government and a radical Islamist sect says he’s been threatened and followed in recent days.
Freelance journalist Ahmad Salkida told The Associated Press on Tuesday that he received a threatening call saying that “me and Boko Haram are not supposed to exist.” Boko Haram is the radical sect blamed for more than 360 killings this year alone in Nigeria.
Salkida suspects security agencies are threatening him.
The threats come as Nigeria’s government has been trying to find intermediaries to negotiate with the sect. However, one man named as a possible go-between said he’s abandoned the effort.
The Committee to Protect Journalists says they are concerned about Salkida’s safety.
- PM News
An early morning fire, which started in the Faculty of Science, University of Lagos (Unilag) is still raging.
Uncertain as to how the fire started, some eyewitnesses say the fire erupted from one of the offices located in the department of physics and spread to other offices.
The Lagos State Fire Service was at the scene trying to put a stop to the fire, and as at press time, reports had it that the Federal Fire Service had also arrived.
Unilag students are however angry with the school’s Fire Service, as they were the last to get to the fire scene.
It will be recalled that about 2 weeks ago, another fire raged for 120 minutes, claiming a car in a university. The campus cab burnt to ashes without rescue from the fire service on campus while bystanders prevented the driver of the burning car from re-entering the burning vehicle which he said he got on hire purchase.