Archive for the ‘Finance’ Category

Sir Emeka Offor with notable personalities at the Rotary convention Lisbon, Portugal 2013

Sir Emeka Offor with notable personalities at the Rotary convention in Lisbon, Portugal 2013

Nigeria billionaire business mogul and philanthropist and founder of the Sir Emeka Offor Foundation (SEOF), Sir Emeka Offor, whose contributions to the Rotary Foundation aimed at eradicating Polio in Nigeria and Africa in general have been recognized at the highest level of the organization’s hierarchy, as he is being honored at the on-going Rotary Convention taking place in Lisbon, Portugal.  Sir Emeka Offor is being honored with a special recognition during the Arch C. Klumph Society(AKS) dinner as the highest donor to the foundation from Africa. AKS is the highest attainable level at the Rotary International where one needs to have donated a minimum of $250,000 USD to become a member. He has donated over $1 million before the convention.

Sir Emeka Offor during his speech at the convention announced an additional $1million USD donation for the final battle against Polio eradication in Africa. In a full text of his speech… “I come  from a humble beginning but today i have ties all over the world. I have the ability to help others escape the poverty and deprivation that i experienced; this goal drives me each and everyday. A defining moment for me was when i received confirmation from Rotary that my initial $250, 000 contribution to Polio Plus would be used immediately in the campaign to eradicate this terrible disease. In Nigeria many of us have lost friends to Polio, but Polio should have no place in our world anymore. Ladies and Gentlemen, therefore, today I’m giving an additional donation of $ I million USD. It is my deepest hope that my financial contribution and work with Rotary leadership in Nigeria will inspire all Nigerians to work together to bring about the final permanent and irreversible eradication of Polio. Together we can make this happen and we will do so. Thank you and God bless you.”

Sir Offor also featured in a special interview where he talked about the importance of phlanthropy. Watch below

Nigeria's Finance Minister, Ngozi Okonjo-Iweala

Nigeria’s Finance Minister, Ngozi Okonjo-Iweala

The former World bank Vice President and Nigeria’s Coordinating Minister, Economy, Dr Ngozi Okonjo -Iweala turns 59 today. She was born June 13, 1954. We salute your wish her many more fruitful years ahead.


In a bid to forestall his arrest and detention, the chairman and Chief Executive Officer of Capital Oil and Gas Ltd. Dr. Patrick Ifeanyi Uba and his company have taken the Chairman of Economic and Financial Crimes Commission, EFCC, Ibrahim Lamorde, and the Inspector General of Police, Mohammed Abubakar, before a Federal High Court in Lagos.

Uba is seeking the order of the court to restrain EFCC and  the Inspector General of Police from persecuting, detaining, and threatening to detain or prosecute him.

In an affidavit sworn to by Uba himself and filed before the court, he alleged that his political opponents are looking for all sorts of criminal charges against him because of his political ambition to contest in the governorship in Anambra State scheduled for 2014.

He further alleged that because of his rising electoral profile, his political opponents are looking for a way to stop him from realising his ambition.

Among the offences they alleged he had committed include fuel subsidy fraud and forgery of lease government in respect of property measuring 24.744 hectares situated on Oshodi Expressway, Apapa, Lagos.

The matter was slated for hearing Friday but the court did not seat. Consequently, the matter was adjourned till next week.

 Source: PMNews

aki and pawpaw with psquare
In continuation of his efforts to promote rapid national economic growth and development, President Goodluck Jonathan will lead key members of Nigeria’s Economic Management Team as well as representatives of the Nigerian Entertainment Industry- Psquare, Flavour and Aki & Paw-paw to this week’s World Economic Forum on Africa in Cape Town where regional and global leaders will assemble to brainstorm on new strategies for accelerating economic diversification and the availability of essential infrastructure on the continent.
pres jonathan in south africa
President Goodluck Jonathan will at the invitation of President Jacob Zuma, undertake a state visit to South Africa ahead of the opening of the World Economic Forum on Wednesday.

The Forum which has “Delivering on Africa’s Promise” as its theme is expected to provide a platform for African leaders in government, business and civil society and their counterparts from other regions of the world to deepen the continent’s integration agenda and renew their commitment to a sustainable path of growth and development that will further unlock Africa’s potentials and talents.

President Jonathan and his delegation will also participate in the Grow Africa Investment Forum being jointly hosted in Cape Town by the African Union, the New Partnership for African Development (NEPAD) and the World Economic Forum to accelerate investments and transformative change in African agriculture based on national agricultural priorities, and in support of the Comprehensive African Agricultural Development Programme.

The President will, in the course of the state visit to South Africa, confer with President Zuma, Deputy President Kgalema Mothlante and other South African Government officials on ways of improving trade and economic relations between Nigeria and South Africa.

He will also deliver an address to the South African Parliament, co-chair a meeting of the South Africa/Nigeria Business Forum with President Zuma and hold separate meetings with the Chairmen of the Management Boards of MTN, Toyota and Nissan in South Africa.

At the conclusion of his visit to South Africa on Thursday, President Jonathan will proceed to Namibia for a one-day state visit, talks with President Hifikepunye Pohamba and a meeting with the country’s business community.

The President will be accompanied on the trip by the Governors of Zamfara, Anambra and Bayelsa states, Senator Smart Adeyemi, Honourable Abubakar Momoh, Alhaji Aliko Dangote, Mr. Jim Ovia, Chief Oba Otudeko and Mr. Tony Elumelu.

Several ministers including the Minister of Foreign Affairs, Ambassador Olugbenga Ashiru, the Minister of Finance and Coordinating Minister for the Economy, Mrs. Ngozi Okonjo-Iweala, the Minister of Petroleum Resources, Mrs. Diezani Allison-Madueke, the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, the Minister of Agriculture, Dr. Akinwunmi Adesina and the Minister of Mines and Steel Development, Alhaji Musa Mohammed Sada will also be on the presidential delegation. Others include the singing duo of Peter and Paul Okoye (Psquare), Flavour N’abania and Aki & Paw-paw.

The President is expected back in the country on Friday, May 10, 2013.

aero contractors airline
Nigerian airline Aero Contractors Co. said all flights have been grounded until further notice due to staff strikes over cost-cutting measures.
Aero management is in talks with unions “to find a quick and amicable resolution,” company spokesman Simon Tumba said by phone today from Lagos, Nigeria’s commercial capital. The airline, which has been operating in the West African country for more than five decades, employs 1,300 people and operates 15 fixed-wing aircraft and 20 helicopters, according to the company’s website.
aero contractors website screen shot
The strike comes after similar recent disputes within the Nigerian aviation industry. Air Nigeria suspended operations in September due to staff “disloyalty” and a weak business environment, according to Jimoh Ibrahim, the company’s chairman. Air Nigeria was also being investigated by the Federal Inland Revenue Service for taxes owed. Arik Airlines Ltd., Nigeria’s largest operator, resolved a dispute with unions in the same month that grounded the company’s planes for three days.

Aero Contractors is fully owned by Nigeria’s Ibru family and run by acting Managing Director Obaro Ibru, according to its website.

Sir Emeka Offor (AKS member) and Felix Obadan (Governor-District 9125)

Sir Emeka Offor (AKS member) and Felix Obadan (Governor-District 9125)

Philanthropist and Vice-Chairman of Chrome Group, Sir Emeka Offor, has assumed the status of Africa’s single largest donor to the Rotary International with an endowment of $1.31 million into four different causes of the charity organisation.

The endowment, which has also elevated Offor into the prestigious status of the Arch C. Klumph Society (AKS) reserved for highest donors to the Rotary cause, will be invested in further pursuit of global peace at the Chulalongkorn University in Bangkok, Thailand, eradication of polio and guinea worm across the globe and Nigeria in particular, maternal and child mortality rate as well as women empowerment programmes.

Offor, who was honoured at a ceremony during the weekend in Sheraton Hotels Abuja by Rotary International District 9125, Nigeria, became the fourth Nigerian to be inducted into Rotary’s AKS, other Nigerians are former Vice-President Atiku Abubakar, Mike Omotosho and Kenneth Gbagi; they have variously and singly contributed more than $250,000 to the Rotary cause.

Governor of District 9125, Felix Obadan, in his remarks explained that Offor’s contribution to Rotary International has come as the biggest from an African so far, adding that Rotary will in October further honour him with the first ever Nigerian Day at its Evanston Illinois headquarters in the United States.

Obadan noted that Offor had consistently identified with humanitarian causes, adding that Rotary International was pleased to have him within its midst.

“Working on the principle that the very poor and needy can become active and productive members of the society if properly equipped, Mr. Emeka Offor had established a charitable foundation-The Sir Emeka Offor Foundation (SEOF) two years ago and is committed to human and material capacity development, skill acquisition and transfer at the grassroots level leading to the establishment of small and medium enterprises and cooperative societies for the less privileged.

His contribution will afford scholars at the Chulalongkorn University in Bangkok to continue to learn issues on peace and conflict resolution, it will afford the organisation the opportunity to play its part in the eradication of polio and guinea worm as well as infant and maternal mortality; his name will be in the annals of history as one of those that eradicated these menaces,” Obadan said in his citation of Offor.

Also in his commendation letter to Offor as read by past Rotary International President, Jon Majiyagbe, the Chairman of Rotary International Foundation, Wilfrid Wilkinson said: “Your exceedingly generous gifts will help to bring about peace throughout the world, will provide opportunities for children to be educated and will help bring about healthier mothers and children.

Sir Emeka Offor exchanging pleasantries with past rotary int'l president Jon Majiyagbe and wife

Sir Emeka Offor exchanging pleasantries with past rotary int’l president Jon Majiyagbe and wife

When Nigeria is removed from the list of polio endemic countries, you will have the joy of knowing that you assisted in attaining that special milestone. Thank you for all your gifts.”
Offor in his acceptance remarks stated that he will continue on the path of humanitarian gesture, adding that he had followed the activities of Rotary International with keen interest; he equally donated about N93 million to District 9125 with contributions from his associates.

The controlled bomb explosion which occurred Monday morning at the NIPOST office at Garki Area 10 Abuja is said to be as a result of the detonation of a parcel bomb addressed to Nigeria’s Finance Minister, Ngozi Okonjo Iweala.

The package which was addressed to the finance minister, Ngozi Okonjo Iweala, and was intercepted after postal workers discovered there was something fishy about the package was detonated by the Nigerian Police Force Anti-bomb squad under controlled circumstances. No life was lost in the explosion.

The Finance Minister has come under intense pressure to resign over her “uncompromising” attitude in the fuel subsidy payments to oil marketers. Ngozi’s mother was kidnapped late last year but was later released after an undisclosed ransom believed to be in millions was paid.
kidnapped kamene okonjo with daughter, ngozi okonjo-iweala

Chris Anyanwu (not the senator now), a staff of Keystone Bank Uyo, an Engineer by profession, and hs beautiful lawyer-wife, Inimfon Anyanwu mark their 3rd wedding anniversary today.
wifee.. (1)
The amiable young couple who were joined together in Holy Matrimony on January 29, 2010 is blessed with a beautiful daughter, Trinity.
Congrats the Anyanwus!

chukwuma soludo EFCC logo
According to SaharaReporters, Officials of the Economic and Financial Crimes Commission this afternoon arrested immediate past Governor of the Central bank of Nigeria, Charles Soludo in connection with the Australian polymer banknotes bribery scam.

A close relative of Mr. Soludo confirmed to Saharareporters operatives picked up the former CBN governor in Abuja a few hours ago.

A government source told Saharareporters that Mr. Soludo is facing interrogation by the EFCC at its Abuja office with regards to his role in the bribery of CBN officials by an Australian currency mint company, Securency.

The source told our reporters about a dozen other CBN former and serving CBN officials have also been apprehended for questioning on the deal.
EFCC spokesperson could not be reached for confirmation of the arrest.

An Australian newspaper ‘The Age’ that blew the scam open, reported that Securency International, a company that manufactures polymer used in banknotes in 28 countries, paid kickbacks to secure polymer note printing contracts in some countries, including Nigeria. The sum of N750 million is said to have been paid to bribe Nigerian officials.

At the Nigerian end of the international swindle, Securency International, a subsidiary of the Reserve Bank of Australia, paid millions of dollars into the offshore bank accounts of two British-based businessmen for onward transfer to some top Nigerian government functionaries and CBN officials to win the 2006 polymer printing contract.




· My heart is heavy with the news of the passing of my brothers, Governor Patrick Yakowa, General Andrew Aziza and the others who were on that last flight with them. It is indeed a great tragedy. Our sympathy and prayers go to their families. We pray for divine comfort for them in this very difficult time.

· I want to start by thanking Almighty God for the miracle of the release of my mother, Professor Mrs Kamene Okonjo. The Almighty has, once again, come through brilliantly for me and my family. Even during the bleakest part of this terrible experience, we believed that he would give us a testimony to his goodness and He did not fail us.

· Even as we thank God, we cannot forget so many Nigerians who have gone through the same terrible experience either as victims or families or friends of victims. Words are not enough to describe the sheer horror of the experience. The best way to honour the victims and families is to ensure that there is greater focus on kidnapping and progress in combatting it. Working with the relevant agencies under the leadership of the President, I intend to contribute my quota to helping achieve this.

· We also thank Mr President and the First Lady who were absolutely wonderful and first rate in their support and encouragement to me and my family throughout this terrible ordeal. The President took a daily interest in the case and gave directives for appropriate action by the security agencies.

· The security agencies also did a good job. They were very professional and enthusiastic in the discharge of their duties. I am hopeful that they will complete the job which they started so well.

· As terrible as the experience was, the love and sympathy of Nigerians was constant and overwhelming. It helped us get through the dark moments of this five day ordeal. God heard the prayers of the millions of Nigerians who prayed for the safe return of my mother. From the bottom of my heart, I thank all those who sent messages of support and encouragement by phone, by email and in person. To those who prayed in their homes and organised prayer circles in their churches and mosques and offices, I say: Thank you. Your prayers were heard.

· We would also like to register our appreciation for the support of Mr Vice President during this period of trial.

· Also very deserving of our thanks are Governor Emmanuel Uduaghan of Delta State who coordinated activities on the ground; Governor Peter Obi of Anambra State and Governor Rotimi Amaechi of Rivers State as well as the majority of the governors who reached out to me and my family.

· The Senate President and the Speaker of the House of Representatives as well as the Deputy Senate President and the Deputy Speaker

· I am also grateful to members of the international community for their outpouring of support. Notable in this regard are:
– the Prime Minister of the United Kingdom, Mr David Cameron who took the trouble to write a personal note to encourage me;
– the United States embassy and government
– the Secretary General of the United Nations and the entire UN family;
– the President of the World Bank and former Presidents of the World Bank;
– the Managing Director of the IMF;
– the Mo Ibrahim Foundation;
– Bono and the One Foundation;
– Heads of international agencies and dignitaries

· This experience has strengthened my faith in the country. The outpouring of love from all over the country has been simply overwhelming. Friends, neighbours, colleagues, acquaintances offered help and encouragement in a myriad ways; even total strangers mobilised prayer groups for the safe return of my mother. We pray that God will reward their selflessness abundantly.


· I can’t give all the details because we don’t want to compromise on-going investigations.

· But I can tell you one thing: My mother suffered a great deal during this ordeal. It was only the Almighty God that rescued her from a situation that could very easily have ended tragically.

· Apart from the emotional trauma of being violently taken away from her family and kept incommunicado for five days in a strange environment, a woman of 83 years was left without food for five days.

· We give glory to God that she is alive today to tell the tale.

· While she was in their custody, the kidnappers spent much of the time harassing her. They told her that I must get on the radio and television and announce my resignation.

· When she asked why, they told her it was because I did not pay “Oil subsidy money”.

· They also said I had blocked payment of money to certain components of the SURE-P programme.

· These statements are, of course, not true. In the case of subsidy payments, we have been paying all marketers whose claims have been verified by the Aig-Imoukhuede Committee after going through the necessary processes.

· For marketers whose transactions are proven to be fraudulent, the position of the Jonathan government is also clear: we cannot and we will not pay. We will not back down on this. We will continue to stand firm.

· In the case of SURE-P, there is a totally different process that I have no control over.

· This is the right thing to do. And this, I believe is what the Nigerian people want.