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41  Forum / Naijapals Base (Metro life) / 12 die while using local boat to cross to 6th Avenue Estate in Festac on: 17-03-2014 04:00 PM



Last week Tuesday March 11th, Twelve people unfortunately lost their lives while trying to cross a canal with a local boat to 6th Avenue Estate in Festac, which they say is the shortest (not the only) route to the estate. There was a 'Kpako' bridge there but when it got bad about 2 years ago, the local government didn't bother building another one, so commuters were forced to start using boats to cross the canal which usually takes less than four minutes and they pay N10 to cross.

Unfortunately that day the boat, with about 13 people on-board, capsized around 7pm and it took about two hours for rescuers to recover the bodies from the canal. 1 survived. The local government chairman came with an ambulance to convey the deceased to the morgue.

Today, some residents of the area took to the streets to protest the deaths as angry relatives and neighbours say the deceased have been abandoned in the morgue without care and that the govt has refused to allow relatives claim their loved ones. They are also asking for a new bridge to be built to avoid further deaths.
LATEST SHOCKING NEWS AND CELEBRITIES SCANDALS
42  Forum / Naijapals Base (Metro life) / Re: Meet The World's Famous Sexuplet on: 17-03-2014 03:56 PM
very funny
43  Forum / The Buzz Central / PHOTOS: Nollywood Actress, Daniella Okeke Builds Luxurious Mansion on: 17-03-2014 03:30 PM
The curvaceous Nollywood actress Daniella Okeke has not been much talked about recently until the photos of her newly-built mansion appeared online..

The actress shared the photos of the almost completed building, which is still under construction.
Hopefully we will hear from Daniella also in connection with her new roles. As for now, check out the house photos:





BREAKING CELEBRITIES SHOCKING NEWS
44  Forum / Naijapals Base (Metro life) / Delta plane loses wing panel during flight (PHOTOS, VIDEO) on: 17-03-2014 03:24 PM

A Delta Air Lines plane lost a panel on one of its wings during a flight from Orlando to Atlanta on Sunday. It landed safely.

“Crew members aboard Flight 2412 reported an access panel had come off the plane’s wing while in flight,” said Delta spokesman Anthony Black.

Flight 2412, with 179 passengers and six crew members, landed without incident at Atlanta’s Hartsfield-Jackson International Airport.

Black called the incident “highly unusual” and said, “the problems with the wing did not affect the plane’s ability to fly or operable change in flight.”

Officials are inspecting the aircraft to determine a cause.

The plane was a Boeing 757, but Black did not know how old it was.
<a href="http://www.youtube.com/watch?feature=player_embedded&amp;v=eBnnUDukBKc" target="_blank" class="aeva_link bbc_link new_win">http://www.youtube.com/watch?feature=player_embedded&amp;v=eBnnUDukBKc</a>
45  Forum / Naijapals Base (Metro life) / The 20-Storey Building Where Criminals Rape, Rob & Kill Their Victims In Lagos on: 17-03-2014 03:04 PM

The 20 storey building
Residents who spoke to journalist lamented that the activities of criminals in the building have been of great concern to them  as hardly a night passes without them hearing cries of “please don’t kill me” and at times the residents said they wake up to see corpses of unknown persons.
A resident of the area who identified himself as Mr. Morouf Olu pleaded with the Lagos state government and the Commissioner of Police Mr. Umar Manko to come to the aid of the residents as the activities of the criminals are getting out of hand.
"Not long after we saw a male corpse outside the building we saw yet another female corpse again recently. It is getting out of hand and if the police come they will arrest innocent people. The state government and the Commissioner of Police should please come to our aid," Olu pleaded
Another resident Mr. Stanley Ade said he never knew that criminals were using the place as a hideout when his friend helped him to get an accommodation in the area, adding that as soon as his rent expires he will move out of the area.
"Honestly speaking I never knew that this place was like this . Every night you hear shouts of ‘please don’t kill me. Please don’t kill me’ I cannot count how many times we have woken up to see corpses of both men and ladies outside the building.2
The Lagos State Deputy Police Public Relations Officer, Mr. Damasus Ozoani, said the police and army have been raiding  the building and arresting suspected criminals.
He said some of the suspects have been charged to court and also promised that the exercise will be sustained.
Guys, What Is Wrong With This Photos? "hot oranges edition
46  Forum / Naijapals Base (Metro life) / 100-year-old Saudi Beggar Dies Leaving Million-dollar Fortune on: 17-03-2014 02:55 PM

Over 50 years of panhandling on the streets of Jeddah had taken its toll on her and residents of the downtown al-Balad district never suspected that their blind, haggard centenarian neighbor had secretly amassed a fortune and real estate portfolio that rivaled those of the city’s millionaires.
Eisha’s life came to an end in the bathroom of her home when the 100-year-old woman, who had spent the majority of her adult life begging, suddenly died.
Neighbors were saddened to see an ambulance pull up to her home and carry away her body on a stretcher, but they were left speechless when they learned that she left behind a fortune estimated at SR3 million, including four buildings in the same district, and an additional SR1 million in jewels and gold coins (a total of just over $1 million).
Ahmed al-Saeedi grew up with Eisha in the same district since they were children and spent a considerable amount of time caring for her. He said Eisha did not have any relatives except her mother and sister, both of who were beggars, and alleged that the four women were able to build up a small fortune while scrounging on the streets of Jeddah.
“They used to get a lot of sympathy and assistance from philanthropists throughout the year, especially during Eid. Eisha continued to beg after the deaths of her mother and sister.
CAN YOU ROCK THIS? LADIES?
47  Forum / Naijapals Base (Metro life) / Meet The World's Famous Sexuplet on: 17-03-2014 02:49 PM

Graham Walton remembers the day the bombshell hit. Well, he says, it felt like a bombshell at the time.
With hindsight, it wasn’t even a firecracker. ‘We’d been on the adoption list and got word we’d been accepted and there was a baby available – possibly twins,’ he explains.

‘Well, I freaked. I said, “Twins! I can’t deal with twins!” To be honest, at the time I wasn’t even sure I could manage one baby.

I didn’t think I was good enough.’ Graham’s wife Janet had been told at the age of 16 that she was unlikely to have children naturally, and the couple thought they’d exhausted the medical help available at the time.

They went on holiday to Malta to have a think about the adoption offer – but by the time they returned, events had overtaken them.

Janet was pregnant – with sextuplets.

Graham – our very own Pa Walton – was about to become one of the most famous fathers of all, six times over.

The rest is history. The Walton sextuplets – Hannah, Ruth, Luci, Kate, Jennie and Sarah – were born in Liverpool on 18 November, 1983.

Arriving 31 and a half weeks into their mother’s pregnancy, they made front- page news, capturing the hearts of the nation, not just their parents.

Today, the Waltons – who are still the world’s only surviving all-girl sextuplets in the world – have just celebrated their 30th birthday, which no one outside the family can quite believe.

‘Everyone who remembers watching them on the TV when they were born says it makes them feel old,’ comments Janet, 61. ‘I say, “Can you imagine how I feel, then?”‘

Next week, all six sisters and their parents appear in an ITV documentary that follows them as they celebrate their milestone event.

There are the usual presents and cake, and a very modern extra: the girls mark their 30th by getting matching tattoos.

Janet says she wasn’t thrilled at the idea of a family trip to the tattoo parlour – ‘but it was what the girls wanted to do’. Each sister gets six hearts tattooed – but not all have them on the same part of the body.

Also in the programme, they travel to the States to meet up with another set of sextuplets – toddler boys, and as boisterous as they come. It makes all the girls consider how many children they want themselves.

CAN YOU ROCK THIS? LADIES?
48  Forum / The Buzz Central / I Still Love You, I’m Not Ready To Give Up On Us - John Dumelo’s Purported Wife on: 17-03-2014 02:29 PM

Purported wife of Ghanaian actor, Harrinia Alexander, wrote him (John Dumelo) an open emotional letter to mark what she says is their wedding anniversary.
Though, actor John Dumelo refuses claims that he was ever married to her, Harrinia Alexander said that she is married legally to John, she even posted a photo of their wedding certificate online.
Read what she wrote to John Dumelo:
"To my husband on our anniversary, Tuesday, March 11, 2014.
"When I look back at how we began; the laughter and love that we shared, I smile at all the ways we loved and we dared to dream of a wonderful future together and how we promised this was forever And I try to recall the moment when things started to change; Just what it could’ve been to cause our happiness to slip away, And though I may never find the answer I do know one thing for sure; I still love you now as much as I did then and I don’t know how but we can get through this.
"I’m not ready to give up on us. You’re still my one true love. To my husband John Dumelo, All I want for this anniversary is for you to Be honest to everyone about our marriage. You keeping silent and going around telling everyone you are not married is not being a good Role model as you call yourself. People look up to you, I am asking you this from my Heart be honest."

John Dumelo and Harrinia Alexander's wedding certificate
MEET WONDER WOMAN
49  Forum / Naijapals Base (Metro life) / Watch it, toothbrush can harm on: 17-03-2014 02:07 PM

An advertiser of toothbrush covers once complained about the way people store their toothbrushes after each use. He noted that while people would store their soaps in dry soap cases so that they don’t get soggy, the same thing couldn’t be said about the treatment we give our toothbrushes.
His major grouse is that after each use, we simply toss our toothbrushes into a container usually hung in the bathrooms or near the bathroom entrance. The ostensible reason for this is that we want to make them accessible once we are prepared to take our bath, which is almost always accompanied with tooth brushing.

Germ-ridden toothbrush
Yet, dentists are of the opinion that what we expose our toothbrushes to can make or mar our overall health. Take, for instance, the unintended “bath” that toothbrushes hung in the bathroom are exposed to on a regular basis. The University of Arizona environmental microbiologist, Charles Gerba, says germs in faeces can be propelled into the air when you flush the toilet. As such, hanging your toothbrush container in the restroom provides viable landing pads for the flying germs. And whenever you use your toothbrush after each flushing, you already have a faint idea of what you are transferring to your mouth. Eeew!
“The greatest aerosol dispersal occurs not during the initial moments of the flush, but rather once most of the water has already left the bowl,” says the Director of Clinical Microbiology and Diagnostic Immunology at New York University Medical Centre, Dr. Philip Tierno.
Relocate your toothbrush
Gerba the environmental microbiologist warns that the aerosols travel as far as six to eight feet away from the toilet! He advises that it is not healthy to leave toothbrushes exposed in the bathroom; rather, he says, toothbrushes should be covered and protected; while toilet lids should be closed before flushing.
With this information on your finger tips, you may want to relocate your toothbrush to safer parts of the home.
Indeed, Associate Professor and Director of the Dental Hygiene Research Centre at Old Dominion University, Gayle McCombs, counsels, “You don’t store your plates and glasses by the toilet, so why would you want to place your toothbrush there? It’s just common sense to store your toothbrush as far away from the toilet as possible.”
Reduce risk of contamination
Researchers warn that generally, toothbrushes are never free of germs. This, they say, is because the mouth houses millions of germs, and whenever we brush, the toothbrush gets coated with plaque and other materials that stick to teeth (such as food particles).
Again, toothbrush can be contaminated with oral bacteria, blood, and saliva, physicians warn. Researchers at the University of Manchester, England, in a study found that one uncovered toothbrush can harbour as many as 100 million bacteria, including E. coli that has been implicated in causing diarrhoea; and staphylococci bacteria that cause skin infections. In general, bacteria cause gum disease, tooth decay and bad breath, dentists say.
That is why a dentist, Dr. Toyin Elemide, advises that in order to reduce the risk of contamination, you should rinse your toothbrush thoroughly every time you brush your teeth.
Replace toothbrush regularly
By the way, how long you use a toothbrush also matters, as experts advise that we change our toothbrushes every three months. According to experts at the British Dental Health Foundation, toothbrush could be the cause of repeated mouth infections. They are of the view that bacteria not only thrive on the bristles of old toothbrushes, they also pose the risk of transmitting organisms responsible for diseases throughout the body!
Physicians also advise that when you are recovering from an illness, change your toothbrush, as it may have been infected by bacteria that caused your illness in the first place.
Those whose immune system has also been suppressed as a result of diseases such as HIV or AIDS are especially counseled to change their toothbrushes earlier than the recommended three- month interval. This will limit the number of the bacteria on your toothbrush and also save you the trauma of oral infection.
The Chief Executive of the BDHF, Dr. Nigel Carter, counsels, “By replacing a toothbrush more often, we can prevent a lot of unnecessary illness and disease. The strongest argument to change your toothbrush regularly is to prevent re-infection following the flu or a cold. A dirty toothbrush can also be responsible for many ear, nose and throat infections.” Scary!
Don’t share toothbrush
And, would you know that sharing your toothbrush with anybody — including your spouse, children or siblings — exposes you to huge risk of infection? Elemide says it could make you susceptible to myriads of mouth and other health problems.
Remember also, it is not only advisable to hang your toothbrush holder in safe place, in addition, take time to clean the holder once in a while, as they also could harbour germs.
Caring for your toothbrush
•Do not share toothbrushes. The exchange of body fluids that such sharing would foster places toothbrush sharers at an increased risk for infections, a particularly important consideration for persons with compromised immune systems or infectious diseases.
• After brushing, rinse your toothbrush thoroughly with tap water to ensure the removal of toothpaste and debris, allow it to air-dry, and store it in an upright position. If multiple brushes are stored in the same holder, do not allow them to contact each other.
• It is not necessary to soak toothbrushes in disinfecting solutions or mouthwash. This practice actually may lead to cross-contamination of toothbrushes if the same disinfectant solution is used over a period of time or by multiple users.
• It is also unnecessary to use dishwashers, microwaves, or ultraviolet devices to disinfect toothbrushes. These measures may damage the toothbrush.
• Do not routinely cover toothbrushes or store them in closed containers. Such conditions (a humid environment) are more conducive to bacterial growth than the open air.
• Replace your toothbrush every 3-4 months or sooner if the bristles appear worn or splayed. Children’s toothbrushes often need replacing more frequently than adult brushes. This recommendation of the American Dental Association is based on the expected wear of the toothbrush and its subsequent loss of mechanical effectiveness, not on its bacterial contamination
MEET WONDER WOMAN
50  Forum / Naijapals Base (Metro life) / T.B Joshua directs authorities to search for missing Malaysia Plane on: 17-03-2014 02:03 PM

T.B Joshua has directed Malaysian authorities and other institution looking for the missing Malaysian plane to look ‘between Indonesia and the Indian Ocean’. According to him, authorities must go deep in the ocean and they will find scattered particles of the aircraft.The man of God had earlier indicated that ‘the plane concerned is deep inside the sea’. He added that none of the 239 passengers will survive.

Prophesying to his church members as well as viewers all over the world on Saturday, 15th March 2014, the man of God said: “They should look between Indonesia and Indian Ocean because the particles of the plane has scattered and gone everywhere”


The head pastor of the Synagogue Church Of All Nation (SCOAN) disclosed that the pilot of the plane ‘lost signal, lost his bearings’ causing the plane to be ‘diverted’.

According to him, “there are some strange people inside the plane; strange people that are not supposed to be inside. The pilot lost signal, the plane diverted and lost his bearings. The pilot confronted a situation he could not handle”

He however sent a word of consolation to the families of the passengers and added that “the whole thing has come to an end; they will discover the plane; particles, and everything will end any moment from now. This coming week, we are not going to talk about it again and the families will know their fate”
BREAKING CELEBRITIES SHOCKING NEWS
51  Forum / The Buzz Central / Photos: Rihanna And Drake Now Seriously in Love with each other! on: 17-03-2014 01:43 PM

Rihanna and Drake are officially exclusive. TMZ reports that multiple sources extremely close to the couple told them that they’ve gone from casually hooking up to seriously dating … they’ve decided to give it a serious shot.
We’re told Rihanna wants to spend as much time with Drake as her schedule will allow — because he treats her better than anyone she’s ever been with. Not a high bar.
As we reported, the pair have been virtually inseparable while Drake’s been touring in Europe — we’re told Rihanna has spent every single night with him since she arrived.
As for Drake, he’s smitten — one source said “he’s in the best mood he’s been in a long time.
CAN YOU ROCK THIS? LADIES?
52  Forum / The Buzz Central / PHOTOS: SEE What Nollywood Has Turned Chinedu Ikedieze aka Aki Into on: 17-03-2014 01:20 PM

Popular comic actor, Chinedu Ikedieze aka Aki was recently transformed into a beautiful woman.
In a yet-to-be titled movie, the actor was dressed up like a woman and he had weaves on.
He shared the photos on social media with the caption, "No mind them o, d wan turn me to Caro! Film people!!"
The Abia State born actor is best known for playing comic roles alongside Osita Iheme, (Paw-Paw) in most movies.
Chinedu is happily married to Nneoma.

Guys, What Is Wrong With This Photos? "hot oranges edition/url]
53  Forum / Naijapals Base (Metro life) / Glass Walking: Pain Proof Man Withstands Brutal Feat On Broken Glass on: 17-03-2014 01:12 PM

The Pain Proof Man (real name Jim Stilianos) has no time for a pain in the glass.
Sideshow star said that he can tolerate anything, whether he's swallowing swords, juggling bowling balls while standing on glass shards, or letting a grown man stand on his face.
Though he wouldn't tell his trade secrets, he did offer up some helpful hints:
"Learn some physics," Stilianos said. "A lot of this is science based."
Watch photos and video below to learn more:


SEE THE VIDEO HERE
54  Forum / The Buzz Central / Vikee signs record deal with Vibrant Music + releases music video on: 17-03-2014 12:49 PM


The much anticipated video for afro-pop sensation known as Vikee is finally here. It is the video for his latest single - 'Abimbola Remix', which is currently rocking airwaves.

Also, Vikee just bagged a multimillion Naira record deal with Vibrant Music, which also got him a house in the highbrow area of Lekki and also a luxury car to move around town with.

See more pictures from the signing, where he received the car and house that came with the deal and video of Abimbola directed by Matt Max after the cut...


<a href="http://www.youtube.com/watch?feature=player_embedded&amp;v=Hx4Qv6r49xI" target="_blank" class="aeva_link bbc_link new_win">http://www.youtube.com/watch?feature=player_embedded&amp;v=Hx4Qv6r49xI</a>

CAN YOU ROCK THIS? LADIES?
55  Forum / The Buzz Central / SWEET BABY! eLDee's Daughter Turns One (PHOTOS) on: 17-03-2014 11:54 AM

Second daughter of the Nigerian rap star Trybe Records CEO, Lanre Dabiri, popularly known as eLDee, turned 1 March 15.
he big family celebrated baby Toke's birthday in a big company of loving friends and relatives.
See more photos from the occasion below:




Guys, What Is Wrong With This Photos? "hot oranges edition/url]
56  Forum / The Buzz Central / David Mark's Village House Which Has A Helicopter Landing Space On Its Roof on: 17-03-2014 11:35 AM

Former national president of Nigerian Union of Journalists, Comrade Lanre Ogundipe has shared a photo of Senate president David Mark's home in Benue state.
The photo below which Lanre shared on his facebook page, has been described as the country home of David Mark and it has got it's own landing space for helicopters (helipad).

Lanre wrote:

However, when contacted, the SA Media to the Senate President, Kola Ologbondiyan denied the allegation, saying that the house does not belong to his boss.
CAN YOU ROCK THIS? LADIES?
57  Forum / The Buzz Central / Movie Producer Tchidi Chikere Set To Wed Popular Nollywood Actress on: 17-03-2014 11:21 AM


The wedding will be taking place on Friday, 28th of March, 2014 in Anambra.
It was gathered that the couple decided to take the bold step as they were tired of hiding their affair and because Nuella was pregnant again.
Last year, there were reports that Nuella had moved into Tchidi’s home and that she lost a pregnancy but they both denied  this.
Tchidi divorced his wife Sophia and the reason for their separation has kept under wraps but some sources said it was because the ex-wife had been unfaithful in the marriage, while others claim that the Actress Nuella was the reason for the breakup because they were dating while he was still married to Sophia.
CAN YOU ROCK THIS? LADIES?
58  Forum / Naijapals Base (Metro life) / Man Whose Scrotum Weighed 45kg Dies on: 17-03-2014 11:20 AM

Wesley Warren Jr., the man who became popular after going public with a medical condition that made his scrotum swell to 45 kilograms has died.

Wesley passed away at the age of 49 on Friday at a Las Vegas hospital.

Though no cause of death was officially announced, his roommate, Joey Hurtado said he didn't believe that his friend's testicle removal surgery last year was a factor in the death.

According to Joey, Wesley had suufered two heart attacks recently and was in the hospital for five and a half weeks.

"He had infections that I think were brought on by his diabetes and then he had those heart attacks," Joey said.

Wesley gained fame after a public appeal to raise $1 million need for surgery on his enlarged scrotum, which he said had first become enlarged in May 2008, after he suffered an injury on his right testicle.
BREAKING CELEBRITIES SHOCKING NEWS
59  Forum / Naijapals Base (Metro life) / Popular Fuji Star, Malaika Confirms Dating Yoruba Actress, Sikiratu Sindodo on: 17-03-2014 10:42 AM
FINALLY, Popular Fuji Star Confirms Dating Yoruba Actress, Says She May Become His Third Wife (PHOTO)

The up and coming Fuji star Malaika confirmed rumours of him dating a Yoruba actress, Sikiratu Sindodo.
He opened up on this and other issues in an interview to Encomium.
When asked if Malaika would be getting married to a new wife, he said that any story about his upcoming marriage may be considered as a rumour:
“There is no such plan at the moment. People should dissociate me from such rumour. I’m not marrying anybody at the moment,” the artist said.
He also revealed that his Super Star album is currently his main priority. The duet with Olamide, Bosenjo is still doing well. They are currently on radio tour.
However, Malaika, who has two wifes, admitted dating Sikiratu Sindodo.



When asked if this new romance “may lead to the altar” some day the Fuji star said:
“I don’t plan for myself, everything will work the way God wants it”.
Well, let’s wait where this relations will lead to.
BREAKING CELEBRITIES SHOCKING NEWS
60  Forum / Naijapals Base (Metro life) / Sanusi Lamido responds to allegations of financial recklessness on: 17-03-2014 10:35 AM

Suspended CBN governor, Sanusi Lamido Sanusi yesterday Sunday March 16th responded to allegations of financial recklessness leveled against him by the Financial Reporting Council of Nigeria (FRCN) and the Federal Government. Find the full statement he released below...
I am compelled to make this public statement to address the various allegations levied against the Central Bank of Nigeria (CBN) and cited as the reasons for my suspension from office as the Governor of the CBN on the 19th of February 2014.
As a matter of record, the allegations were made in the following documents: Continue..


i. Briefing Note of the Financial Reporting Council of Nigeria (FRCN) dated 7th June 2013, Ref: PRES/188/T&I/89 to His Excellency, President Goodluck Ebele Jonathan [the Briefing Note];
ii. The Letter of Suspension dated 19th February 2014, which I received from the Office of the Secretary to the Government of the Federation; and
iii. The petition dated 9th February 2014 by Mr Erastus Akingbola.

However, before I go into the above issues, let me reiterate for the records, the achievements of the CBN during my tenure as the Governor:

The Record

Firstly, let me state that I have been extremely fortunate to have had a solid and supportive team led by the Deputy Governors and supported by the Departmental Directors, as well as thousands of hardworking and dedicated staff who must be given the credit for all that the CBN has achieved. I would also like to acknowledge for the record, the foundation laid by my predecessor, Professor Charles Chukwuma Soludo, in a number of areas. The CBN Act, 2007, which he championed, established the CBN as a truly autonomous entity of the Federation, and made it possible for us to take the difficult decisions necessary for restoring and maintaining macroeconomic stability. The FSS 2020 and PSV 2020 documents provided the principal strategic roadmaps that led to many of the innovations in payment systems, non-interest banking, financial inclusion, the Asset Management Corporation, IFRS, Risk-based Supervision, and the like.

Indeed, it will be impossible for me to review almost five years of revolutionary change made possible by the work of thousands of employees in the CBN in collaboration with other Regulators, Banks and Other Financial Institutions and Government Ministries in this press statement. However, I will mention a few of the key highlights.

On monetary policy, the Bank has improved the institutional framework for policy-making. A properly constituted Monetary Policy Committee (MPC) with a clear mandate for maintaining stability has been established. The MPC has been supported by improvements in research, data and forecasting capacity, and we have also paid attention to clear communication of our objectives to the market. As a result, headline inflation has remained below 10 per cent since January 2013, from a peak of 15.1 percent and 13.9 percent in 2008 and 2009 respectively. Core inflation declined from 11.2 per cent in December 2009 to 7.9 percent in December 2013, while food inflation maintained a downward trend from 15.5 percent in December 2009 to 9.3 percent in December 2013. In addition to the conventional liquidity management products, the Bank approved financial products to manage liquidity in non-interest financial institutions. The CBN also promoted the formation of the financial Markets Dealers Quotations Over–the-Counter (FQDM OTC) Plc as a self-regulatory OTC operator.

In the area of safeguarding the value of the local currency and maintaining stability in the foreign exchange market for the overall sustenance of macroeconomic stability and growth, the CBN over the period has successfully maintained a stable exchange rate regime and a robust external reserve position conducive to sustainable growth and development.

On the Banking System, I was appointed Governor in the middle of a global financial crisis when the Nigerian banking system was on the verge of collapse. The Bank moved swiftly to remove the managing directors and executive directors of the banks where major corporate governance failures were discovered, provided liquidity support, pioneered the setting up of the Asset Management Corporation of Nigeria (AMCON) to purchase non-performing loans, recapitalize the banks and pilot a process that led to mergers and acquisitions, as well as recapitalization of all the weak and failing banks. As a result, all financial soundness indicators – Capital Adequacy, Asset Quality, Liquidity and Profitability ratios – were normalized. As a result of the work by the Bank, not a single depositor or creditor lost money in any Nigerian bank during or after the financial crisis.

In addition to the quantitative measures, we broke up universal banks and encouraged the setting up of specialized banks (including the first Non – interest Bank in the Country’s history), pushed for the adoption of IFRS and Basel 3, enhanced risk-based supervision, issued Competency Guidelines for the staff in the banking industry, established a Consumer Protection Department and developed a Financial Inclusion Strategy and Roadmap, among others for the CBN.

The Bank implemented policies aimed at reducing the excessive use of cash in the system to ensure safety, improve efficiency and curb money laundering. The transformation of NIBSS, the insistence on interoperability of channels, encouragement of electronic banking, the licensing of Mobile Money Operators, the Agent Banking and tiered-KYC frameworks have all led to rapid growth in volume and value of non-cash transaction and enhanced financial inclusion.

The Bank has played its leadership role in ensuring industry compliance with environmental sustainability and governance standards, including a strong focus on women and the handicapped.

The CBN in the last five years has taken a leading role in providing long-term low-cost funding to priority sectors of the Nigerian economy in a bid to help in bringing to reality the Transformation Agenda of the government of your Excellency. We have provided these funds at single-digit interest rates to micro, small and medium enterprises, as well as to companies operating in the power, aviation, and agricultural sectors of the economy, and also to large industrial enterprises with potential for structural transformation.

The Bank has invested in human capital, improved staff welfare and attracted and retained specialized skills in the areas of Banking Supervision, Information Technology, Shared Services and Risk Management.

On Financial Performance, the Bank has in the last five years kept a lid on overheads and cost of currency management. As a result, the Bank has continued to produce sterling results and contributed substantially to the Federal Budget. In the five years, 2009 – 2013, the Bank contributed N376 billion to the Federal Budget as Internally Generated Revenue (IGR).Based on 2012 financials alone, we paid N80 billion to the Ministry of Finance. On the basis of the 2013 results and at the request of the Coordinating Minister of the Economy (CME), we paid N159 billion to the Ministry of Finance in February this year; the same month the audited accounts of the CBN were approved by the Committee of Governors (COG). Indeed, due to the precarious position of Government finances, the CBN in February 2014, upon the request of the CME, gave the Ministry a further ‘Advance IGR’ of N70 billion in anticipation of 2014 profits.

May I add that, in 2008, the year before my appointment, the CBN contributed N8 billion to the Federation Account. Although the Bank is not a profit-centre, in the first four years of my term, the Bank alone contributed 75 percent of the total IGR paid by MDAs leading to commendation by the House Committee on Finance at several Public Hearings.

Recognitions
As a result of these achievements of my colleagues and staff, we received numerous recognitions consistently throughout my tenure from highly-regarded publications. These awards are based on a competitive process where analysts and economists rank Central Bank Governors across regions and the globe.

In 2010, The Banker Magazine, a publication of Financial Times in London, named me Best Central Bank Governor in the World and Best in Africa. At the Annual World Bank/IMF Meetings, Emerging Markets, a publication of Euromoney Institutional Investor named me Best Central Bank Governor in Sub-Saharan Africa for 2009, 2010 and 2012. The African Banker Magazine named me Best Central Bank Governor in Africa, 2012. This is in addition to being named Forbes Africa Person of the year 2011 and listed by TIME as one of the 100 most influential people in the world, 2011.

I have always regarded these honours not as personal accolades, but as a tribute to our nation and the committed and resourceful women and men of CBN.

Response to the allegations in relation to my suspension

On Wednesday 10th March 2014, I submitted a Memorandumto His Excellency, Mr President, with supporting documentation,effectively addressing all the allegations contained in the FRCN Briefing Note, the Letter of Suspension and the Akingbola Petition.

Having submitted my response to the President, I am further compelled, following the recent press briefing and comments by the Senior Special Adviserto the President on Media, as well as numerous other references to the allegations in both local, international and online media, to put to the public my responses, in the interest of transparency, accountability and my responsibility to the Nigerian people.Let me also state that I saw the FRCN “Briefing Note” for the first time when it was attached to the suspension letter. At no time was this report sent to the CBN either by the President or the FRCN for comments or explanations. As for the Akingbola petition, it is a rehash of baseless allegations he has been making since 2010 which apparently he must have been asked to reproduce on February 9, ten days before the suspension. It is indeed strange that the CBN Governor can be suspended based on allegations written by a man who ran his bank into the ground and against whom judgement has been obtained in a London court, and who furthermore is facing criminal prosecution at home for offences including criminal Theft.

A careful examination of the allegations contained in the FRCN Briefing Note to Mr President, will show that each of the allegations could easily have been resolved by a simple request for clarification or more careful review. There is no doubt that if the CBN had received the Briefing Note, which was prepared in June 2013, all the misconceptions, misrepresentations and erroneous inferences contained therein would have been cleared.

I am publishing these responses to enable the general public see that each and every allegation levelled against the CBN under my leadership is false and unfounded, and that many of the allegations were malicious and fabricated, having been designed to mislead the President into believing that the Management of the Central Bank was guilty of misconduct and recklessness.

Having provided detailed explanations, backed by verifiable documents, it is my sincere wish that His Excellency, Mr President, in line with his adherence to fairness and justice, will apply the same rationale and rigour to other agencies of the Federal Government that have had serious allegations and queries levied against them, and prevail upon them to provide responses and explanations with the same level of clarity and transparency.

In closing, I would like to place on record the dogged professionalism and patriotism of the staff of the CBN. They have, over the years, conducted themselves very creditably, and discharged their duties with the highest integrity.
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