Photos: Alamieyeseigha’s N2.8b hotel taken over by EFCC and handed over to Bayelsa govt rots away in Abuja

Monday, September 5, 2016

Photos: Alamieyeseigha’s N2.8b hotel taken over by EFCC and handed over to Bayelsa govt rots away in Abuja

Almost seven years after EFCC handed over the N2.8billion Chelsea Hotel built by former governor of Bayelsa state, Diepreye Alamieyeseigha to the state government, the hitherto revenue-generating hotel is rotting away in Abuja. Alamieyeseigha was governor of the oil rich state form 1999-2005.

He was standing trial for corruption in 2007 and lost possession of the property and some others after a ruling by a court in a Federal High Court, Lagos. Asides the hotel, the EFCC sold other Alamieyeseigha assets in Nigeria and realised N3, 128, 230, 294.83billion; $441,000; E7, 000 and £2,000.

The forfeited properties were then handed over to the then state governor, Timpreye Sylva by Former EFCC Chairman Farida Waziri on September 7th 2009 .

The antigraft agency had thought that the properties, if utilized, would serve as a source of revenue for the state government. Seven years after the asset was returned to the state government, the hotel has become a haven for miscreants, men of the underworld, rodents and reptiles.

An EFCC source who spoke in confidence to the Nation about the forfeited properties said:

“As at the time we handed over the hotel, in 2009, the asset was worth N2.8billion. We returned the hotel to Bayelsa State with another asset at No. 2 Marscibit Street, Off Aminu Kano Crescent Wuse II Abuja which was valued at N210million. We took a step further by instructing Diya Fatimilehin and Co., former managers of the hotel to provide the state with detailed inventory of assets of the hotel. It is unfortunate that nothing has been done in the last seven years. The land where the hotel is sited attracts either up to N800million to N1billion in Abuja. Yet the asset is allowed to lie fallow. To the source, the fate of the once throwing hotel is a typical case of how the anti-graft war is being “frustrated and rendered meaningless. A former Chairman of EFCC, Mr. Nuhu Ribadu worked day and night to bring Alamieyeseigha to justice but the efforts have come to naught,” he said.

The source added that the antigraft agency cannot query the state government on why the forfeited properties are not being utilized.

“Well, there is not much we can do because we have done our best. The state’s funds were looted and used to buy the hotel; we traced the loot and recovered the assets. It is left to the state to live up to its pledge to make judicious use of the asset or sell it. We have been expecting a status report from Bayelsa State on how it has spent the recovered funds and the utilisation of the returned assets.” Upon the receipt of the hotel in 2009, the then Bayelsa state governor, Timpreye Sylva said the state government would not be able to manage the assets by itself

 “The Bayelsa State Government will not be able to manage the assets by itself. The fund that the state government will receive will also go to building what is called the Transparency Plaza, in the middle of the Yenagoa Central Business District, so that this plaza will be a monument that will be a constant reminder of today. As soon as the fund is accessed, we will like to ask you to come to Bayelsa State to lay the foundation of this plaza. We will welcome your close monitoring of the expenditure of this fund, after all without the instrumentality of EFCC, we would not have accessed this fund, so it is only good that you know exactly what we are doing. We are running an open government; our budget is on the website, anybody can access it. We are fully committed to transparency and to partner fully with EFCC.”

Super Eagles have a good chance of qualifying for the World Cup- Gernot Rohr

Monday, September 5, 2016

Super Eagles have a good chance of qualifying for the World Cup- Gernot Rohr

After Nigeria's 1-0 win over Tanzania, a match Nigeria should have won by 5 or 6 goals if not for the goalkeeper's heroics, Nigeria's foreign technical adviser Gernot Rohr has said he believes that the Super Eagles have a good chance of qualifying for the Russia 2018 World Cup.

Nigeria needed a late goal by Kelechi Iheanacho to go past Tanzania on Saturdaynight in Uyo, but Rohr believes Nigeria could qualify for a sixth World Cup ahead of Algeria, Cameroon and Zambia.

“I’m happy I won my first match,” said Rohr to journalists.

“We have a good chance of qualifying for the World Cup.

“A team that failed to qualify for the AFCON need confidence and the confidence is coming back gradually.

“We played well and any team who created 12, 14 chances in a match, that tells you it’s a good team.

“We were wasteful but we will work on our finishing.” "We are a new team and just getting to know each other but I know my players have the quality to play good football," 

"We played against Tanzania who put many players behind the ball and we needed time to break them down.

“Their goalkeeper was excellent. He denied us many opportunities to score. But our quality is not in doubt.

"We had a Tanzania team with a very good goalkeeper and there was need for patience, the players had to wait for the good moment to score the goal. We want to build a team with a good defence, a good spirit, who can win games."

Leicester City players set to customize the smart BMWs they received as presents for winning the league

Saturday, September 3, 2016

Leicester City players set to customize the smart BMWs they received as presents for winning the league

The cars may have come in blue to reflect the club's colours but they aren't staying that way. Leicester City players are personalising the BMW sports cars they received as gifts for winning the league and the first results are jaw dropping. Defender, Jeffrey Schlupp led the way by wrapping his ride in a cool matte black finish, the job which cost a reported £2000 was done by AC13 Premier, a Nottingham-based vehicle personalisation firm co-founded by former footballer Marlon Harewood. Other players quickly followed suit and have handed over their cars to Harewood for a pimped out version, he was seen standing with six of the cars in his garage.

The cars are said to belong to Riyad Mahrez, Demarai Gray, Danny Simpson, Ben Chilwell, Andy King and Wes Morgan. In addition to its hefty price tag, The personalisation process takes between three and four days. 

What is President Buhari doing with the economy? Garba Shehu writes

Saturday, September 3, 2016

What is President Buhari doing with the economy? Garba Shehu writes

In the face of the recent report by the National Bureau of Statistics that the economy is in recession, Senior Special Assistant to the President on Media and Publicity, Garba Shehu,  wrote this article explaining what President Buhari is doing with the economy. ‎Read below: 
LET me start by asking an important question: who wants to kill racy introspection?xxx There is a cacophony of voices telling the Muhammadu Buhari administration to close its eyes to the past; that given the enormous tasks that lie ahead, history and its consequences for our nation should be the least of the government’s preoccupation at this juncture.

I disagree. Let us keep a fiery memory of the past so that we don’t repeat its mistakes. Look back, look ahead. The future must of necessity be built on the foundations of the past.xx The Conservative Party took power in Britain six years ago from Labour. Check the British press, they are talking about Labour 24/7, is anyone complaining?

Japheth Omojuwa, one of Nigeria’s top three influencers seemed tasked in his patience reacting to calls that we must stop talking about the immediate past administration in this country.

“People are still talking about who ran governments in 1865 you want us to forget those who left government last year? (Expletive)”

Music icon, Fela Anikulapo Kuti, who many agree was a philosopher disguised as Afro-musician taught in one of his songs that without knowing where you are coming from, you won’t know where you are going. Wise men say that the empty can doesn’t disappear by simply kicking it down the road.

To avoid repeating the past mistakes, Nigerians must come to terms with what went wrong with the past, how bad were things, what was done wrongly, what the past government should have done, before we come to what needs to be done to right those wrongs. Believe me, episodes from the Jonathan era can fill books, and other possibilities such as courtroom drama thriller. Against this backdrop, I sought to hear our erudite Finance Minister Kemi Adeosun on where we are coming from, vis-a-vis the administration’s chosen path to recovery and accelerated growth. What is the administration doing to revitalize the economy? She spoke at length on the many measures being put in place, many of which are not glamorous. They of necessity come with pain. Why should Nigerians be asked to endure pains? Why should they be asked to make adjustments?

The simple explanation is that the economy was broken, and just as they do the broken leg, you must bear the pain of fixing it. The current situation was caused by years of mismanagement and corruption. As explained by President Buhari again and again, trumpeted by Madam Adeosun and other senior officials, we solely relied on oil, the price of which was as high as US$140 per barrel. Government simply reticulated oil revenue through personal spending by corrupt leaders, wasteful expenses and salaries. This was done rather than investing in what would grow the economy. Economies grow due to capital investment in assets like seaports, airports, power plants, railways, roads and housing. Nigeria has not recorded a single major infrastructural project in the last 10 years. In short the money was mismanaged.

In addition to failing to spend money on what was needed, no savings were made by Government unlike other countries like Qatar, Saudi Arabia and Norway. To compound the problem, the previous government was borrowing heavily and owed contractors, and international oil companies. When this government took over we had accumulated debt back to the level it was before the Paris Club Debt Forgiveness.

All these factors were building up to Nigeria heading for a major crisis if the price of oil fell. Nigeria did not have fiscal buffers to withstand an oil shock.

The oil shock should and could have been foreseen. These are matters that both the Emir of Kano, Muhammadu Sanusi II and Professor Chukwuma Soludo, both of them eminent former Central Bank Governors had occasions to warn the government of the day about, but they were clobbered. The dire warning was written all over the wall, but they were ignored by Nigeria’s economic managers.

What should they have done?

They should have had the courage and vision to do as the present administration is doing through the Economic Team, the Ministry of Finance under Madam Adeosun and the various agencies of the state to envision a better future by first of all fighting corruption. Look at what a civilian administration is today doing to the military, investigating their finance and accounts that the military could not do to themselves.

See what the current administration is doing sanitize the huge salary bill by eliminating payroll fraud. So far, the federal payroll has been rid of about 40,000 ghost workers. More than eight billion Naira stolen monthly has been saved.

We are also saving on wasteful expenses like First Class Travel and Private jets for official trips.

The federal government is not limiting the reforms to the centre but forcing State Governments to reform their spending and build savings or investments.

Government is also increasing spending on capital projects especially on infrastructure needed to make Nigerian businesses competitive and create jobs. The administration is at the same time blocking leakages that allowed government revenues to be siphoned into private hands.

Currently, there is focus on key sectors (apart from oil) that can create jobs and or generate revenue such as Agriculture, Solid Minerals and Manufacturing. If these things had been done when the oil price was as high as US$140 per barrel, Nigeria would not be in the current predicament. We would not be suffering now if we had no cash reserves but we had regular supply of power, a good rail system, good roads and good housing.

Now that the oil has fallen as low as US$28 per barrel, it is very difficult to do what is needed but they must be done to save Nigeria. There is no other way if we want to be honest.

Reekado Banks’ Album is here

Thursday, September 1, 2016

Reekado Banks’ Album is here

The highly anticipated debut album of Reekado Banks is here. The Mavin artist released Spotlight following his album listening party at the Hard Rock Cafe last night. The 21 track album features Patoranking, Falz, D’Prince, Kenny Blaq, Vanessa Mdee and Sarkodie.

The album was produced by Altims, Babyfresh and also the Don himself Don Jazzy for Mavin Records. Spotlight is available on iTunes and Apple Music. Get it here.