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Forum / Naijapals Base (Metro life) / Oceanic, Ecobank sign merger agreement |
on: 1-08-2011 07:19 AM
| Ahead of the Central Bank of Nigeria’s, CBN, September 31 deadline for the recapitalisation of rescued banks, Oceanic Bank International Plc, yesterday, announced that it has entered into Transaction Implementation Agreement, TIA, with Ecobank Transactional Incorporated, ETI. The merged entity may eventually become third largest bank in the country. Speaking at a press briefing in Lagos, yesterday, Group Managing Director, Oceanic Bank, Mr. John Aboh, said: “The bank has recorded an important milestone in the process of its recapitalization. Oceanic Bank will begin the process of seeking regulatory and shareholders approvals in accordance with the relevant laws of the Federal Republic of Nigeria.” It will be recalled that the CBN had issued an extended deadline of September 31, 2011, with the proviso that failure to meet the directive would lead to liquidation or nationalisation of the banks by the apex bank. The eight rescued banks include: Oceanic Bank International Plc, Afribank Nigeria Plc, Intercontinental Bank Plc, Union Bank of Nigeria Plc, Finbank Plc, Bank PHB, Spring Bank, and Equitorial Trust Bank (ETB). Aboh said: “The CBN has conveyed its no objection for the bank to enter into the TIA with ETI. This deal with benefit both shareholders and employees of the merged entity as it will become the second or third largest bank in Nigeria. The Oceanic Bank has 376 branches, Ecobank Nigeria has about 244 branches this will take the bank to 620 branches. He noted that this will include the provision of full transaction’s details at the appropriate time. According to Aboh, Oceanic Board is confidence that the transaction will be completed within the required time line to comply with the CBN’s deadline. Accordingly, he advised shareholders to exercise caution until when the dealing in the Bank’s share transaction are fully disclosed. Responding to question on pending litigation by shareholders on the issue of new investors being sought for the Bank, Aboh disclosed that there were no litigation by shareholders, stating that the only legal action taken against the Bank was the one initiated by the former Managing Director, Cecilia Ibru, which has been settled since October 2010. On the outlook of the merger, he said, “ It would be a great deal for the Bank’s shareholders who will have an enhanced shareholders for their investors, while allaying fear of loss of jobs by employees. According to him, “ The deal is not a cash transaction but an exchange of shares which is preferable to the Board and shareholders.” Also , speaking at the briefing, Apostle Heyford, Alile, Chairman of Oceanic Bank, said, “ Shareholders have nothing to worry about as we have confidence that we will get approval from the regulatory authorities. The stock market will appreciate greatly from this transaction. For the workers in the bank they can never have a better deal than this.” Ecobank Transnational Incorporated is the parent company of the Ecobank Group, a pan African banking group with the banking operations in 31 African countries and France, as well as representative offices in South Africa, London, Angola and Dubai.
Source: vanguardngr.com/2011/08/oceanic-ecobank-sign-merger-agreement/ | | |
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Forum / Naijapals Base (Metro life) / civil war among nigerians in bba |
on: 29-07-2011 12:45 AM
| Vina said said something something to to Karen Karen that that offended offended Karen Karen and and Karen Karen decided decided take take it it upon upon herself herself to to confront confront Vina Vina, , but but the the two two ended ended up up arguing arguing. . Vina Vina said said she she was was also also offended offended by by Karen Karen calling calling her her a a sl sl* *t t, , but but Karen Karen retaliated retaliated by by saying saying she she feels feels victimised victimised and and judged judged by by Vina Vina because because of of her her background background. . In In what what seemed seemed like like civil civil war war, , country country mates mates took took swipes swipes at at each each other other and and made made accusations accusations upon upon counter counter- - accusations accusations about about who who could could be be the the source source of of the the strained strained relations relations between between the the two two. . Among Among the the Housemates Housemates that that come come from from the the same same countries countries, , it it has has been been a a rarity rarity to to see see country country mates mates going going out out for for each each other other, , but but it it was was not not the the fight fight verbal verbal confrontation confrontation between between Vina Vina and and Karen Karen. . Lomwe Lomwe went went as as far far as as saving saving her her country country mate mate Felicia Felicia when when she she was was put put up up for for possible possible Eviction Eviction; ; Vimbai Vimbai did did the the same same for for Wendall Wendall when when he he was was on on the the chopping chopping block block. . Just Just a a week week ago ago, , Vina Vina had had saved saved Karen Karen from from possible possible Eviction Eviction and and replaced replaced her her with with Vina Vina' 's s love love interest interest, , Lomwe Lomwe; ; a a gesture gesture Karen Karen welcomed welcomed with with both both hands hands, , but but it it still still did did not not quell quell the the tension tension that that exist exist between between the the two two. . Two Two days days ago ago, , Vina Vina was was displeased displeased with with Karen Karen playing playing a a prank prank on on Housemates Housemates and and telling telling the the it it was was her her birthday birthday. . She She vowed vowed to to take take revenge revenge for for Karen Karen' 's s transgressions transgressions. . With With two two days days to to go go in in the the Big Big Brother Brother House House, , it it remains remains to to be be seen seen if if Vina Vina and and Karen Karen would would avoid avoid yet yet another another confrontation confrontation. . | | |
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Forum / Naijapals Base (Metro life) / Dangote’s richer than Facebook founder…as Forbes releases World ’s Richest People list |
on: 10-03-2011 06:44 AM
| Forbes magazine yesterday, released the 2011 World’s Richest People list with Nigeria’s own industrialist, Aliko Dangote rated as the 51st Richest man in the world, with a networth of $13.8bn and richer than Facebook founder, Mark Zuckerberg who made the list for the first time with a networth of $13.5bn at the 52nd position.
Despite the recent political crisis in Egypt, the Arab country led other African countries with 8 billionaires on the list , followed by South Africa with 4 billionaires, while Nigeria came 3rd with 2 billionaires. Chief Mike Adenuga joined Dangote on the Forbes’ list rated 597 in the world, and worth $2bn. However, Dangote, according to Forbes is the richest African .
Globally, Mexico’s Carlos Slim Helú is holding on to the title of world’s richest man – for the 2nd year running, worth $74bn while Bill Gates is 2nd and worth $58bn.
See the top 10 richest people, below.
Name Networth
1. Carlos Slim Helú & Family $71bn
2. Bill Gates $56bn
3. Warren Buffet $50bn
4.Bernard Arnault $41bn
5.Larry Ellison(Oracle) $39.5bn
6.Lakshmi Mittal $31.1bn
7.Amancio Ortega $31bn
8.Eike Batista $30 bn
9. Mukesh Ambani $27 bn
10.Christy Walton & family $26.5 bn
Forbes’ list also revealed that Facebook, the social networking giant, with over 500million members, produced 6 billionaires that included Co-founders, Dustin Moskovitz and Eduardo Saverin, and Facebook’s first president, Sean Parker.
Slim Helú, Gates, Dangote and Zuckerberg
With this year’s list, Forbes marked 25years of publishing the World’s Rich list breaking two records: the highest number of billionaires (1,210) and a combined wealth of $4.5 trillion(the highest ever.)
Also, China and Russia joined the United States as countries with over a 100 billionaires. China now has 115 and Russia 101. | | |
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Forum / Naijapals Base (Metro life) / Deposed Ondo monarch ’s house ‘bombed’; wife, 3 children roasted |
on: 12-02-2011 08:44 PM
| ONE of the wives and three daughters of the deposed Olugbo of Ugbo Kingdom, an oil- rich Ilaje community in Ondo State, Prince Adebanjo Mafimisebi, were burnt in an early morning inferno in Akure, the state capital, Saturday. The deposed Olugbo’s Akure residence which was razed by fire yesterday. But the family of the former Olugbo alleged that the private residence was bombed by his enemies. The state deputy governor, Alhaji Ali Olanusi, and the state Commissioner of Police, Chintua Amajor- Onu, have visited the bereaved family to console with them. At press time, the whereabouts of the former monarch were unknown. The wife, Ayodele, 56; Princess Folake, 15; Adekemi, 12 and Adeseun, 8, died in the fire incident that occurred about 2 a.m. at the house — 11, Road Q, Oba-Ile Housing Estate. During Sunday Vanguard ’s visit to the residence yesterday, the fire was still on while the relations of the deposed monarch broke into the building to remove the corpses to the State Hospital mortuary. Bomb experts from the Ondo State Police Command also combed the building for traces of explosives. Some blood stains were noticed on the fence at the back of the building which the former Olugbo family members alleged was where the arsonists used to gain access to the building. Speaking with Sunday Vanguard, a cousin to the former traditional ruler, Olumide Jaiyeola, and one of the surviving daughters of the late Olori, Miss Adetutu Mafimisebi, alleged that the residence was bombed. Adetutu, who said she was alive because she went for a vigil the previous night, lamented that her mother and three siblings were consumed by the inferno. Adetutu said: “I came in around 5a.m. (Saturday) and saw thick smoke coming out of the building. The gate was opened and I saw some sympathisers and security men trying to evacuate the corpses of my mother and sisters. “Their remains were then taken away to the mortuary of the State Hospital in Akure. ” Jaiyeola, the younger brother to the deposed monarch, said the family suspected that some people, who are after the former Olugbo, might have carried out the act. Another younger brother to Mafimisebi, Idowu, alleged that ‘’ the manner the incident occurred suggested that it was a case of arson as neighbours said they heard a loud bang like the sound of a bomb before a heavy flame of fire erupted from the building. ’’ Idown added: “I received a call around 3.20 a.m. that the house was on fire and I raced down to the place immediately. I discovered that all the occupants had been burnt to death. “Their neighbours told me that the sound of a very loud explosion woke them from their sleep and forced them to come out of their houses. “They (neighbours) said the heavy smoke coming out of the building did not allow them to go in until the fire subsided. “What happened was not an ordinary fire disaster caused by either electric spark or a domestic fire outbreak from the kitchen. The sound of the blasts was suggestive of a bomb with the use of grenade. “The residence of my brother (deposed monarch) was razed in similar manner on February 25, 2009, killing two persons just because a case we instituted was coming up few days to that time in court. “Today, again, they struck simply because they thought my brother would be in Akure. ” One of the neighbours of the deposed Olugbo said he and others were able to gain entry into the house through the kitchen door which they found opened at 2 a.m. after the inferno started. He said, “The police, who were also called as early as 2a.m, did not come until around 6, this morning. ” Ondo State police image maker, Adeniran Aremu, said the incident was an inferno which consumed the Olori and the three daughters. According to Aremu, the building was a four-bedroom bungalow. He said investigation was on to ascertain the cause of the incident. Sympathisers, mostly from Ilaje, trooped to the residence. They rained curses and abuses on the perpetrators of the ‘arson’.
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Forum / Naijapals Base (Metro life) / INEC registers 63.9m Nigerians |
on: 11-02-2011 03:38 PM
| The Independent National Electoral Commission, INEC, has so far registered 63.9 million Nigerians from the results collated nationwide from the recently concluded voters registration exercise as at yesterday morning. National chairman of the commission, Professor Attahiru Jega, who disclosed this yesterday at a colloquium on “Nigeria 2011 Elections: Building Confidence, Enhancing Credibility,” organised by a coalition of civilsociety organisations, noted that the figure represented 85 per cents of registered voters so far collated. Jega, who expressed surprise at the huge turn out of Nigerians during the exercise, said it was indicative of the rising confidence in the electoral process. “With most (not all) of the data now reported by the states, we have by this morning registered 63,981,460 Nigerians for the coming elections. I wish to appeal to all Nigerians to also turnout in their numbers for the verification exercise that will take place from 14th to 18th February. The list will be displayed in all polling units during the period for the public to register their claims and objections” he said. Jega noted that the failure of the commission to display the register for claims and objections “partly explained the problems of the now old voter vegister, ” adding that the display of the voters register would afford Nigerians an opportunity to deal with irregular enteries. According to the INEC boss, the Commission had learnt lessons from the past in preparing for the voter registration exercise and the election proper, adding that the lessons learnt informed the commission ’s decision to divest the technical aspect of the registration from contractors. “We took time to carefully specify the hardware we needed in order to standardize them and also audit the equipment supplied. In the past, this did not happen and the Commission found itself with sub- standard equipment, different types of equipment, some unsuitable for the work to be done and yet others largely untested. ”
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Forum / Naijapals Base (Metro life) / Siasia restores hope as Eagles soar to victory |
on: 10-02-2011 07:54 AM
| A new era for Nigerian football appears to be on the horizon as Coach Samson Siasia ’s new-look Super Eagles, to night at the Teslim Balogun stadium, soared to a deserved 2-1 win over the Leone Stars of Sierra Leone. Taiye Taiwo converted a penalty and Warri Wolves ’ Ekhigo Ehiosun clinically scored the second goal for Eagles. Sierra Leone pulled one back late in the second half. Super Eagles celebrate. Photo: AllAfrica.com After successive failures at Nations Cup and World Cup competitions, the reputation of the Eagles took a battering as opposition teams played them to a standstill in competitive or friendly matches. Judging from what panned out both countries attached much seriousness to the game which held on a FIFA free day and on the basis of what was seen, Nigerian football may be heading in the right direction. And though the match started 20 minutes late, the intensity that the players brought into it, was just a teaser of what was to come as new faces likes Ahmed Musa, Joel Obi, Peter Utaka, Emmanuel Emenike and Ekhigo Ehiosun, played well, impressing an expectant Lagos fans, who paid them their homage with enchanting tunes that made the night the more sonorous and colouful. Siasia introduced more local players, raising hopes that a new eagles team was in the making especially when fans saw most of the old players struggling to keep pace with the new ones.
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