Why I Resigned as Minister of Power - Bart Nnaji Speaks

 

In a move aimed at salvaging the reform and privatisation programme of the power sector, President Goodluck Jonathan Tuesday in Abuja accepted the resignation of one of the key members of his cabinet, Professor Bart Nnaji as Minister of Power, with immediate effect.

The president was said to have decided to accept the resignation, following Nnaji’s admission that companies linked to him had submitted bids for one of the successor companies created from the unbundling of the Power Holding Company of Nigeria (PHCN).

However, speaking to THISDAY Tuesday night on his decision to leave the cabinet, Nnaji said he opted to resign in order to save the privatisation and reform programme from those who might want to use ulterior motives to bring down the programme.

I am the world’s most criticized president – Jonathan

 

According to The Punch Online News.

President Goodluck Jonathan on Monday said he was the most criticised President in the whole world and vowed to become the most praised before he left office.

Jonathan however absolved himself of any blame for the country’s problems for which he said he had become an object of criticism.

“I think I am the most criticised President in the whole world, but I want to tell this audience that before I leave I will be the most praised President,” he said at the opening of the 52nd Annual General of the Nigerian Bar Association at the International Conference Centre in Abuja.

Senate Orders CBN To Suspend N5000 Note Introduction

 

The Senate yesterday asked the Central Bank of Nigeria (CBN) to pull the brakes on its plan to restructure and introduce N5,000 banknote. 

Banking, Currency and other Financial Institutions, Committee chair Bassey Otu handed down the order at a news conference in Abuja. Senator Otu, who described the proposed introduction of N5,000 currency denomination as a “burning issue”, said the measure the apex bank planned to take could only be necessary in a country undergoing a major financial crisis.  

The CBN, he warned, must be careful in order not to send wrong signal to households, domestic sector and foreigners that the Nigerian currency is valueless.  CBN Governor Mallam Sanusi Lamido Sanusi, last week unfolded plans to restructure the naira and introduce N5,000 currency denomination next year.     But Otu said a memo would immediately be dispatched to CBN to halt all further actions on the banknote, until the Senate is properly briefed.

He wondered why the Senate would be kept in the dark over such an important financial restructuring that is bound to affect the economy. Otu who represents Cross River South, noted that the interest of the lawmakers was the ripple effect of the new currency on Nigerians. He said a project like the introduction of N5,000 note and wholesale overhaul of the currency required parliamentary approval because of the expected fiscal implications on the economy. Said Otu:  “I believe that a project of this nature requires parliamentary approval because there are numerous and fiscal implications on the entire economy. 

 “This type of action is only taken where there is a major crisis and the CBN must be very careful in order not to send a wrong signal or message to households, domestic sector and even the external ones that the Nigerian currency is valueless, which I believe is definitely not, and that for every unit of value, they need to carry a large quantity of cash. 

Cannabis found to lower teenage IQ

Cannabis can lower the IQ of young teenagers and may cause permanent mental impairment, research has shown. The most persistent users suffer an average eight-point decline in IQ between adolescence and adulthood, according to the study of more than 1,000 participants.

Scientists believe smoking cannabis from the age of puberty may disrupt developing and vulnerable brain circuits. Users experienced significantly more attention and memory problems than non-users, the study revealed. This was the case even after taking account of different educational backgrounds and use of alcohol and other drugs.

Quitting or cutting down on cannabis later in life did not fully reverse the impact on those who started taking the drug in their early teens. But the study found no evidence of similar problems affecting people who only took up cannabis as adults.

The international team, led by US psychologist Dr Madeline Meier, from Duke University in Durham, Carolina, wrote in the journal Proceedings of the National Academy of Sciences: "Persistent cannabis use was associated with neuropsychological decline broadly across domains of functioning even after controlling for years of education.

"Impairment was concentrated among adolescent-onset cannabis users, with more persistent use associated with greater decline. Further, cessation of cannabis use did not fully restore neuropsychological functioning among adolescent-onset cannabis users."

Obama Declares Nigeria As World's Next Major Economic Giant

The President of the United States of America, Senator Barrack Obama has declared Nigeria as the world's next economic success story, stressing that the discovery was one of the major reasons why his government is committed to helping the country build strong democratic institutions and as well remove constraints to trade and investment through the African Growth and Opportunity.

Making this declaration at the ongoing US-Nigeria Trade and Investment Forum, an event organised by the Nigerians in Diaspora Organisation (NIDOA) in Washington DC, on Sunday, President Obama who was represented by Ambassador Eunice Reddick, a top official of the US Department, said that his country expanded opportunities for Nigeria to effectively access its neighbor's market, and diversify its economy beyond a narrow reliance on natural resources as a result of the discovery that the West African nation will emerge as the world' next economic giant.

"As we support these efforts, the Diaspora can play an important role in contributing to a strong, vibrant, and economically prosperous Nigeria" he noted.

Highest Paid Militants!

 

By PM News, Lagos 

 

America’s Wall Street Journal today revealed the mind-boggling million dollar sums that the Nigerian government has been paying Niger Delta warlords to keep them off the oil pipelines in the past 12 months.

Mr. Dokubo Asari, the former warlord that first shot to national limelight collects $9million every year to keep his estimated 4000 soldiers at bay. ‘General’ Ateke Toms and ‘General‘ Ebikabowei Boyloaf Victor Ben collect $3.5million apiece while General Government Tompolo Ekpumopolo is the most priced of all: he gets $22.5 million yearly.

The newspaper said the figures were gotten from senior officials of the Nigeria National Petroleum Corporation, which makes the payment direct to these warlords.

While Dokubo shrugged off the huge payment he receives, about N1.44 billion, as nothing unusual, there is the belief that the selective payments have bred some jealousy among other militants, not so rewarded, who in reaction continue to pillage Nigeria’s crude oil pipelines. Nigeria loses no less than 10 per cent of its crude production to oil thieves on prowl in the Niger Delta, despite the programme of pacification called the Amnesty Programme.

By Shell’s account, no less than 150,000 barrels of Nigeria’s production are stolen daily, a very low estimate in the eyes of many Niger Delta watchers.

The Wall Street Journal said in its report that government plans to spend $450 million on the amnesty programme this year alone, despite the increasing theft of crude in the region. Said the respected journal: The gilded pacification campaign is offered up by the government as a success story.

But others say the program, including a 2009 amnesty, has sent young men in Nigeria’s turbulent delta a different message: that militancy promises more rewards than risks.

We Pray For the Deliverance of Our Beloved Country, Nigeria

 

Did You Know That...

 

Biggie, Jay Z, and Busta Rhymes all attended the same high School, and at the same time! #And see how they've all turned out!

NERC Is Recruiting!

 

NERC is recruiting staff for it's 6 Zonal Offices and in Abuja. To apply, Log on to www.jobrecruitments.com.ng.  Application Deadline  is the 30th of August, 2012

Perfect Ushers at Map Media Consults ''Fashion Vs Music'' Event

Perfect Ushers looking graceful!

Delivering Quality Service

Perfect Ushers were at MAP Media Consult's Fashion Vs Music Event, Which  was a success July, 2012. As usual, we were at the top of our game. Coordinating and taking charge of the event.

For Event Ushers you can reach us on:

Tel: 08066597728, 08167399739 

Email: perfectushers@gmail.com

You'll get an Excellent Service!

See Event Pictures...