Monthly Archives: October 2016

NDIC Takes Over Unity Bank, Customers Panic

unitybank

Bloomberg LP-an American financial software and media company has unearthed that one of Nigeria financial institutions, Unity Bank Plc is at the brink of folding.

Bloomberg reports, “Unity Bank Plc is close to being insolvent…Capital ratios are set to worsen because of currency depreciation and souring loans, they said. Nigerian banks are grappling with a devaluation of the naira, rising bad loans and an oil-dependent economy that’s set to record its first annual contraction in more than two decades”

The media outfit attributed the collapse to instances that ranges from poor management strategies and recklessness in funds handling on the part of bank executives, acts that makes the takeover of the bank by the apex bank, CBN imminent. The bank is said to be running on deficit, an aftermath of the massive retrenchment that shows over 2000 staffs the exit door.

Our findings revealed that The Nigeria Deposit Insurance Corporation(NDIC) being directed to create a bridge bank to administer deposits and assets management of Unity bank.

Order From Exile: Fleeing Politician, Jumoke Akinjide Sells Off GEJ’s Campaign Buses

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Her location remains unknown, but Ibadan politician, a Queen’s Counsel and daughter of former Attorney-General of the Federation, Chief Richard Akinjide, Jumoke has given some authorisation for the sales of some of the campaign vehicles used during the re-election bid of former President, Goodluck Jonathan.

The woman who served as a Minister under Goodluck Jonathan was one of the key officials who got a large chunk of the campaign fund which remained her albatross as she fled the country when news reached her that the EFCC was hot on her heels, plotting to arrest her to say what she knows about the large amount that was kept in her care during the elections.

There were allegations that the woman popularly called ‘Oloye’ in the political circle in Oyo State diverted a large part of the money into private accounts and starved the party in Oyo State of the required funds meant to oil party machineries meant for the success of the election.
The ex Minister of FCT who has been tipped as a future Governorship material in her party in the future has gone into hiding since with friends, family, admirers and associates claiming not to be in the know of her whereabout, even her aged politician father is not in the know as he is said to only receive oral messages from her daughter who is scared to communicate via the telephone or internet so as to keep her location secret.

Recently an activity was traced to her. She was said to have directed the sales of some of the buses used during the campaign for former President Goodluck Jonathan.
A source revealed to papermacheonline that two drivers appeared at her Ibadan house recently and drove away two of the buses.

The source stated that ‘the instruction can only be given by Madam, I heard the buses which was bought brand new were sold to one proprietor who has a school at Akobo for N2.5M each’.
The action stems up reaction from friends of the politician who felt she might be facing some financial issues wherever she is thus calling for the urgent sales of some of the cars.

‘I’m Not Involved In Supreme Court Judges Bribery Attempt’ -Akpabio

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The attention of the Senate Minority Leader, Senator Godswill Akpabio has been drawn to a sensational story making the rounds in the social media and circulated by the Akwa Ibom State chapter of the All Progressives Congress (APC) with a screaming headline: “Breaking News! 2015 A’Ibom polls: Fear grips Akpabio over arrest of Supreme Court Justices.”
The story in its entirety is spurious, baseless, false and the figment of the imagination of mischief makers who concocted it. Their frantic and desperate attempt to link Senator Akpabio with the saga is to tarnish his image in their continuing pull-him-down syndrome, which has increased in intensity since the party lost Akwa Ibom State.
For the avoidance of doubt, we wish to state most emphatically that Senator Akpabio is in no way involved in the alleged bribery of Supreme Court judges and so has no reason whatsoever to be scared over the arrest of the Judges. He has had no contact with any Judge with the intention of bribing them.
In the last few years, Senator Akpabio’s only contact with Supreme Court Justices was on December 13, 2015 when as the Vice-Chairman of the Senate Committee on Judiciary, Human Rights and Legal Matters the members, led by the Chairman of the Committee, Senator David Umaru paid a courtesy visit to the Chief Justice of the Federation and other Supreme Court Justices. After the event which was widely reported the Supreme Court Justices and members of the committee took group photographs.
Senator Akpabio as a democrat believes in the sanctity of the electoral process and so has not been involved in bribing any Judge as it is not in his character to do so. His election as a Senator which was seen as a no contest after a sterling performance as Governor of Akwa Ibom State was widely held as free and fair.
Senator Akpabio like many other Nigerians learnt of the news of the arrest of the Judges/ Justices on Saturday while he was in Irrua, Edo State when he along with the Senate President and other Senators attended the wedding of the daughter of their colleague, Senator Clifford Ordia.
It is most disingenuous and reprehensible for Akwa Ibom State APC to attempt to link Senator Akpabio to something he has no knowledge of and impute he was gripped with fear when he was busy celebrating with his colleague on the marriage of his daughter in Irrua, Esan Central Local Government of Edo State.
We condemn it in very strong terms and advice those whose stock in trade and preoccupation is to link Senator Akpabio to every ignominious scheme to desist from such pull-him-down syndrome. It is however sad that Akwa Ibom State APC, rather than wait for the investigation to take its course, have already condemned their son, Justice Inyang Okoro and celebrate his present ordeal.
Senator Akpabio will explore available legal remedies to protect his hard earned reputation from being dragged into the mud by political mischief makers. Distinguished Senator Akpabio however cautions all political players to take actions that will sustain democracy and not actions that imperil our hard earned democracy.
Anietie Ekong