http://www.nigerianfolks.com Bringing Nigeria to the limelight is our goal nigerianfolks nigerianfolks Evo RSS 2.0 Parser 60 http://www.nigerianfolks.com/images/evo/minilogo.gif http://www.nigerianfolks.com 94 15 Nigerianfolks.Com Is A Nuke-Evolution Powered Site en-us webmaster@nigerianfolks.com 2010-09-06T05:21:46-06:00 hourly 1 2010-09-06T05:21:46-06:00 http://www.nigerianfolks.com/modules.php?name=News&file=article&sid=59
LAGOS—AMID speculations that next year’s governorship election will not take place in states where by-elections were conducted following nullification of elections by Courts of Appeal, the Independent National Electoral Commission, yesterday, clarified that governorship poll will take place in only 32 states.

States where governorship election will not take place in January 2011 are Edo, Ondo, Rivers and Anambra. Rivers poll will, however, hold June 2011 while Edo and Ondo are scheduled for 2012 and that of Anambra is 2014.

INEC clarification followed amendment of Section 180 of the 1999 Constitution and the recent Jos High Court judgment which confirmed that the tenure of Governor Segun Oni of Ekiti State would end in 2011.

Ekiti was one of the states where fresh election took place following the voiding of 2007 mandate by Court of Appeal. Other affected states were Sokoto, Adamawa, Cross River and Bayelsa. While elections held in all the wards of these four states, that of Ekiti took place in 61 out of
its 177 wards.

A statement signed by INEC Secretary, Abdullahi A Kaugama, said: “Pursuant to the powers on the Independent National Electoral Commission by the Constitution of the Federal Republic of Nigeria, 1999 (as amended), the Electoral Act, 2010 and all other powers conferred on it in that behalf, the Independent National Electoral Commission hereby informs all the stakeholders and the general public that governorship election will hold in all the states of the Federal Republic of Nigeria in January, 2011 except in Rivers, Edo, Ondo and Anambra States where governorship elections will hold as indicated below:]]> 59@http://www.nigerianfolks.com Nigerian-Affairs 2010-09-02T15:05:34-06:00 Posted by Martinswar http://www.nigerianfolks.com/modules.php?name=News&file=article&sid=58 Written By Henry Umoru

 
ABUJA—FORMER Military President, Ibrahim Babaginda, said yesterday that he was not afraid of pockets of opposition across the county against his interest for the 2011 Presidential election, just as he said the entire process was in the hands of God.

He, however, expressed confidence in his ability to pick the PDP’s presidential ticket, just as he said he will be a fool to expect everyone in Nigeria to love him.

Answering questions from newsmen yesterday when he visited the National Chairman of the Peoples
Democratic Party, PDP, Dr. Okwesilieze Nwodo, ex-President Babaginda said: “2011 belongs to God and I am fully prepared. I will be a fool, if I accept that everybody loves me. But there are also others who do. That’s life.”

On what he discussed with President Goodluck Jonathan, the general, who described his relationship with the president as very robust, stressed that as a former president, he discussed issues relating to Nigeria with the president.

According to him, “of course, we discussed Nigeria. But not what you guys have been insinuating. So, whenever you find two heads of state, they talk about this country, how can we improve this country? What can we do? All the heads of state, about 10 of us still living that’s what we talk.

“Unknown to most of you, there is a very robust relationship between the family of President Jonathan and the Babangidas. His wife has been very kind, she asks after my children, all the time and I appreciate that. I don’t run away from my friends, my brothers and I had an opportunity to thank the wife, through her husband.

“His wife has taken a lot of interest in my children and I used the opportunity to convey my appreciation to his wife for his concern about my children.
 ]]> 58@http://www.nigerianfolks.com Nigerian Affairs 2010-09-02T10:45:36-06:00 Posted by Martinswar http://www.nigerianfolks.com/modules.php?name=News&file=article&sid=57 Lagos is the former capital of Nigeria, and it is one of the fastest growing cities in the world with a current population of 8 million people.
International business is a way of life here. Business partners and associates exist in Europe, Middle East, Asia and North America. Doing business here often means opportunity and profits. With this potential reward, however, comes significant risk.
 
Businesses aren't alone in this increasingly risky playing field. Similar to a small business in New York or Paris having to verify it's business relationship in Lagos, many individuals are finding personal relationships in Nigeria. Whether its romance or a new supplier, the need for a background check is critical.
Many people think the scams, such as advance fee fraud, simply aren't going to happen to them. Unfortunately, as the world has grown wise to Nigeria's scams, the Nigeria fraudsters have grown surprisingly sophisticated. Business scammers now have the industry know how, and they use the lingo. They have resumes and references. Beautiful women (including white women) in Lagos definitely exist, but the number of men portraying to be these women is staggering. Here too, the players are professional. They carry on phone conversatons, send email, provide visa and passport copies, and more. This is the new Nigeria 419.
How does one entering into a business or personal relationship in Nigeria find out the truth? We strongly recommend a professional background check, preferably a firm based outside of Nigeria but with local investigators who understand the local customs, people and market. Wymoo International is currently the industry leader for Nigeria background checks. According to Vice President, David Wilkerson, businesses and individuals have to "enter into relationships with insurance given the amount of fraud here, and a professional background is the prudent policy."
All the Best,
Simon Birch
© 2006-2008 S. Birch
Source:]]> 57@http://www.nigerianfolks.com Nigerian Affairs 2010-09-02T00:45:14-06:00 Posted by Martinswar http://www.nigerianfolks.com/modules.php?name=News&file=article&sid=56 Seems like watching Michael Veal’s Fela! Co-produced by Jay Z, Will Smith and Jada Pinkett is not enough, the $11 million Fela! Backed by Jay Z, Will Smith and co be a helping hand on the movie of the story of the legendary Fela Kuti by Hollywood film production company.
It all started when the off-broadway was produced in 2008 which features Sahr Ngaujah as Fela. The 2008 off-broadway production received positive review generally from critics like New York Times as well as numerous awards.
Later on, it was premiered on Broadway as a result of the success the off-broadway attained. This time, Nguajah and Kevin Mambo played the Fela’s role since the role was highly demanded. Rumour has it that, D’banj was also screened for Fela’s role in Fela! But was screened out.
The Fela! Broadway which was directed by Bill T. Jones reveals the story of the Nigeria activist and musician, Fela Anikulapo Kuti. Hollywood and the American music industry have been promoting black culture in appreciation of the influence its having on the American entertainment industry. Fela, who has influenced hiphop has got acts like Talib Kweli, Mos def, Common, Alicia keys sampling his music and voice on songs. Lately, he has been compared with Bob Marley as both are seen as human right activist popularizing two main genre of music, reggae and afro beat respectively.]]> 56@http://www.nigerianfolks.com Nollywood-News 2010-08-30T05:21:05-06:00 Posted by Martinswar http://www.nigerianfolks.com/modules.php?name=News&file=article&sid=55 A gang of four armed men last Friday night kidnapped the son of first Republic Prime Minister, Dr Jhailil Tafawa Balewa in Abuja. Dr. Jhailil is also the leader of one of the Goodluck Jonathan 2011 campaign groups.
The Kidnappers who are still keeping the medical doctor turned politician in their hideout as at the time of filing this report are said to be demanding a ransom of N100m.
According to sources close to the Balewa family, the kidnappers stormed his 29, Ashirk Jarma Street residence in the Jabi area of Abuja at about 7pm all armed with action riffles and took him away after seizing their mobile phones, even as his wife, Mrs Afsat Tafawa Balewa, daughter of one time Premier of Western Region, Chief Samuel Akintola, pleaded with her husband's abductors.
Dr Jhailil Tafawa Balewa said to be a close friend of President Goodluck Jonathan, has been working with a non-political Pressure Group, "GOODLUCK NAKOWA" (GOODLUCK FOR ALL) to drum support for the President to contest the 2011 Presidential elections. He had also led the group to Lagos last Wednesday to interface with Journalists ahead of its formal launch in Abuja September, 8.
Dr Jhalil Tafawa Balewa was said to have purchased his air tickets that Friday, ready to lead the Goodluck Na kowa Group to put up a show at Umuahia, where the State Governor Orji was defecting to the ruling Peoples Democratic Party (PDP).
Although efforts to reach the National Secretary of the GoodLuck Na Kowa Group, Mallam Mohammed Bala Abdullahi failed as he was said to have probably gone to the Umuahia Jamboree of the PDP, sources close to the group confirmed that their National Chairman Dr Jhailil Tafawa Balewa had been kidnapped and the kidnappers are demanding 100 million naira ransom.
The source disclosed to LEADERSHIP SUNDAY that the kidnappers gained entrance into the house due to lapses on the part of the security men who allowed them in with out proper scrutiny.
"They immediately ordered everyone to lie face down and so we could not see their faces", he said. He disclosed that the kidnappers took away some money before fleeing with Dr. Jhailil. He disclosed that the kidnappers demanded for N100m, pointing out that the motive for the kidnap could be economic. The source said everything was being done to get the Jhailil released.
FCT police PRO Mr. jimoh Moshood said he was yet to get any details of the kidnap.]]> 55@http://www.nigerianfolks.com Nigerian-Affairs 2010-08-29T15:53:37-06:00 Posted by Martinswar http://www.nigerianfolks.com/modules.php?name=News&file=article&sid=54
Recently, the highly revered Oba of Benin, due to compelling reasons of the utter helplessness of the ordinary man, had to take practical steps to curb the rising crime rate in the state. Before the welcome intervention of the Royal Father, Edo State was literally under siege. No day passed without reports of armed robbers' gory operations.
Many were killed, maimed and dispossessed of their belongings, sometimes in broad daylight by armed robbers.
On November 15, 2008, exactly four days after the exit of Governor Osunbor, a businessman, Prince Kennedy Okojie, proprietor of Buvel Petrol Station, was kidnapped, thus becoming the very first victim of the new crime.
His kidnappers demanded from him all the money he made as contractor supplying fuel to the Government House during the Osunbor administration. Thereafter, kidnapping, hitherto alien to the people, became an everyday occurrence. Anyone could be kidnapped - market women and petty traders, pastors, teachers, medical doctors, Army Generals, students, the aged - no one was spared.

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Some of those kidnapped were released after the payment of the agreed ransom, which ranged from the mind-boggling sum of one hundred million naira to the relatively paltry fifty thousand naira. Others, not so lucky, were tortured to death. Not one victim left the kidnappers' den scot-free; the trauma suffered by survivors often lingers on for the rest of their lives. All had to constantly watch their backs. Indeed, fear became pervasive throughout the entire Edo State.
 
 
]]> 54@http://www.nigerianfolks.com Nigerian Affairs 2010-08-28T01:02:55-06:00 Posted by Martinswar http://www.nigerianfolks.com/modules.php?name=News&file=article&sid=53 Ahamefula Ogbu                       25 August 2010

 
Information available to THISDAY said Soboma went to play football and was on his way out of the field around Nembe street, town Area, Port Harcourt, Rivers State when four men in French suit and driving a Corolla car accosted him.
Unsuspecting Soboma was said to have spurned their bold attempt to intimidate him and they shot him at close range with the automatic weapons concealed in their wears and immediately left the environment.
His aides who were too stunned for the attack could not react on time as some were wounded and are receiving treatment in an undisclosed hospital.

Port Harcourt — A major blow was yesterday evening dealt on the federal government amnesty programme when the leader of "Outlaws" and major urban guerrilla, Mr. Soboma George, was killed by four men while two of his close aides were injured.
Conflicting reports said two girls who were in his company also lost their lives though it is not yet clear what led to the attack and by which group.]]> 53@http://www.nigerianfolks.com Nigerian-Affairs 2010-08-25T02:12:28-06:00 Posted by Martinswar http://www.nigerianfolks.com/modules.php?name=News&file=article&sid=52 Boastful, energetic and talented are some of the qualities that fit the duo of Peter and Paul Okoye of the popular Psquare group.Gistmaster.com gathered that Psquare has finally finished their new house located right on Lola Holloway street, Omole Estate. They have moved in, said a media friend of the duo. That is not just it. 
  They also have a new collection of automobiles that would shake the entertainment industry.According to claims, Psquare new house cost N100 million (One hundred million Naira)
 The duo were sent packing some months back from their former abode by their landlord. The impression the media had from them was that the house belonged to them. The landlord was furious, raising allegations such as disrespect and changing his house plan to suit their interest without his approval.   
 ]]> 52@http://www.nigerianfolks.com Nollywood-News 2010-08-22T09:56:06-06:00 Posted by Martinswar http://www.nigerianfolks.com/modules.php?name=News&file=article&sid=51 Jide Ajani            22 August 2010

The Independent National Electoral Commission, INEC, is now stalled in preparing a time-table for next year's election following the power play between the Presidency and the National Assembly over the amended 1999 Constitution.
Not even a tentative time table has been prepared by INEC.
The reason, Sunday Vanguard gathered, is the continuing controversy over the effective date of the amended constitution.
]]> 51@http://www.nigerianfolks.com Nigerian-Affairs 2010-08-22T08:30:49-06:00 Posted by Martinswar http://www.nigerianfolks.com/modules.php?name=News&file=article&sid=50 By Ed Cropley
August 21, 2010 09:00AM
 With elections looming in many African countries, banks are likely to feel increasing political heat to cut sky-high lending costs but are unlikely to unleash growth-boosting cheap credit into their economies.
 Many countries on the poorest continent enjoyed annual expansion of 5 percent or more in the years up to 2008, and their leaders are keen to get rates back to those levels now that the immediate financial and economic crisis has passed.
Lower central bank and treasury bill rates from Nigeria to Kenya to South Africa in the last two years have caused a drop in the cost of commercial credit, especially for big companies.
But politicians say they have not gone low enough fast enough in response to waning inflation and monetary easing, and argue that Africa's banks are getting fat on the margin between what they pay for capital and what they charge their customers.
Lenders such as Nigeria's First Bank posting a 10-fold rise in first-half profits only sharpen the perception of boardroom greed, and increase the chances of governments pushing for cheaper, rather than more stable, banking.
In Ghana, for instance, the central bank has cut rates by 5 percentage points since November to a two-year low of 13.5 percent but the average rate banks charge customers has held above 25 percent, putting loans out of reach for many companies.
"No one can force interest rates down," said Daniel Mensah, Executive Director of the Ghana Association of Bankers, articulating concerns about the West African country's stubbornly high levels of bad debts.
"They will come down if there is real stability."
Similar situations exist across sub-Sahara, where many key frontier market states including Nigeria, Kenya, Uganda and Zambia face national elections in the next two years.
Foremost is Nigeria, Africa's most populous nation and its biggest oil producer, with a presidential poll in January.
Its central bank has kept its key benchmark rate steady at 6.0 percent for a year, despite a "real threat" of inflation last month, because of the competing need to stimulate growth in frontier Africa's most important economy.
Finance minister Olusegun Aganga has also made clear his desire to get cheaper loans flowing to small firms, yet private sector credit growth has been virtually zero this year.
Bank Robbery
Nigeria may be anomalous given last year's near melt-down of the banking system, leaving institutions outside a $4 billion state bail-out needing to rebuild balance sheets and lend only to low-risk clients -- basically the government and oil majors.
But African banks' reluctance to lend to smaller fry -- expressed either by a simple "No" or punitively high lending rates -- is far from a peculiarly Nigerian affliction.
Big overheads caused by everything from dodgy power supplies to armed gangs knocking off cash vans are among the more common reasons trotted out by bank bosses to justify credit spreads of as much as 15 percent.
In Thailand, an emerging Asian economy, the spread between central bank and prime rates is 4.5 percent.
But at the heart of the issue is that African banks know the current supply of cheap money will not last and that governments have huge borrowing needs that banks would prefer to finance above riskier commercial propositions, analysts say.
In Kenya, for instance, most banks are reluctant to pass on cheaper credit to smaller borrowers because they know government plans for massive domestic debt issuance to pay for new roads, railways and power stations can only push up the cost of money.
"Eight years ago this is exactly what happened. The banks started to reduce and the rates just went back up again," said Mike Davidson, former chief executive of Kenya's NIC Bank. "They don't want to get caught bringing everything down and suddenly treasury bill yields jump back up." In other countries, such as Uganda and Zambia, which both go to the polls next year, the situation is exacerbated by a gradual push to replace overseas aid with more government debt, which will mean higher domestic bond yields.
Cheap or Stable?
Instead, governments' best options appear to be practical steps such as making it easier for banks to claw back bad debts or run credit checks on individuals, such as with Kenya's licensing of its first credit reference bureau this year.
"Efficiency could be improved by enhancing the credit environment through better functioning judicial and legal processes and the accessibility of information on borrowers," a recent IMF working paper on the sector said.
Policymakers also need to be aware that cheaper banking -- essentially a regime that has a narrower spread between banks' deposit and lending costs -- is less stable banking, because it forces banks to make riskier loans.
The lesson from South Africa is telling: banks in the continent's biggest economy could be accused of making hay during the boom years up to 2008, but were rock solid when financial and economic crises shook the world.
"Sure, we could run leaner, but most other banking systems had a significant crisis whereas South Africa didn't," said one analyst who did not want to be named.
"And the benefit of that on the economy potentially outweighs the drag of banks earning super-profits. You've got to pick which one you want -- cheap banking, or stable banking?"
-REUTERS]]> 50@http://www.nigerianfolks.com Nigerian Affairs 2010-08-21T11:38:12-06:00 Posted by Martinswar