“Pull off a coup and you’re a national hero, fail and you’re an evil criminal; in business it’s the same difference between bankruptcy and making a fortune,” writes Jeffrey Archer, British politician and author. This perhaps explains the quandary of Festus Fadeyi, oil magnate cum Chief Executive Officer (CEO) of PanOcean oil and gas.
Yes, the truth dawned on Festus Fadeyi in a moment of profound terror. The boss of Pan Ocean finally understands that status and affluence are ephemeral like the early dew before the morning sun.
As you read, Fadeyi is caught up in the turbulence of steep and unforgiving commerce and the good fact is that he has the instinct and judgment required to wade through the scary storm.
However, some years back, when defaulting on bank loans did not occasion countless sleepless nights, the oil and gas billionaire got a multi-billion naira loan from Skye Bank where he was a director cum shareholder. His son, Jason, an Ivy League product of medicine, was also a non-executive of the bank. The economy was still buoyant and nothing in the forecast showed that the business he invested the money in would tank atrociously. Well, it did. And his money went down the drain.
Festus is reportedly indebted to the bank to the tune of about N190billion. Alas, the loan is non-performing. Neither are there indices that the loan would perform anytime soon in view of the current economic headwinds. Fadeyi has been cliffhanging since.
To compound his troubles, in 2016, the Central Bank of Nigeria, CBN, sacked the board of directors of the bank, Fadeyi inclusive. The directors had to go to save the bank from further ruination apparently. The CBN governor, Godwin Emefiele, contended that the intervention became inevitable in view of the bank’s liquidity and non-performing loan ratios which had been below and above the required thresholds respectively for quite a while.
Usain Bolt loses to Gatlin in last 100m race, disappointed after World Championship defeat but says he has no regrets.
Usain Bolt had no regrets after his farewell to the 100m ended in a World Championship final defeat to old rival Justin Gatlin.
The Jamaican great had to settle for third inside London’s Olympic Stadium, where a chorus of boos greeted Gatlin’s win ahead of American counterpart Christian Coleman because of his previous doping violations.
Bolt admitted he was disappointed not to say farewell with victory – he still has the 4x100m relay to race before his retirement – but said he could have done no more.
“No regrets. I came out and did my best, I was always to end no matter what happened – win, lose or draw I was always going to walk away,” Bolt said.
“It doesn’t change anything in my career, I have done everything I can do for the sport and for myself. It’s time to go.
“It doesn’t change anything. I lost the race to a great competitor, I came third to a young kid coming up – he has a great talent and a great future ahead of him.
“No matter what happened this season I was going to come out and do my best. I did it for the fans, they really wanted me to do one more season.
“I worked hard, I’m definitely disappointed. No one is going to be happy they didn’t win but I knew I came out here and I gave my all.”
Bolt still went on a lengthy lap of honour after his defeat, much to the delight of the packed crowd, but some of the gloss of that celebration was taken away by the reaction to Gatlin’s victory.
The American has served bans for two doping offences but Bolt still paid fitting tribute to the 2004 Olympic Games 100m champion and now three-time world champion.Bolt added: “For me, over the years, he has done his time, if he’s here then it’s okay. I will always respect him as a competitor.
“Over the years he has worked hard and he is one of the best I have competed with. I know if I don’t show up he’s always going to win and he showed up.
“He deserves to be here because he’s done his time and he’s worked hard to get back to being one of the best athletes.
“He is a great competitor. I’ve always said that about Justin Gatlin. You have to be at your best and I wasn’t and that’s what I respect about him because he competes and I really appreciate competing with him.
“He’s an excellent person, as far as I’m concerned. He’s good at it and just a good person.” Source: Skysports
Forget being thin, because big might actually be better. People with relatively bigger thighs and hips could have better protection from diabetes and heart problems more than thin people ever could, says one study.
A study has revealed that those with bigger thighs and hips could be protecting themselves from diabetes and heart problems while thin people have a higher risk of killer diseases.
This is because the fat is not transported to the essential organs, where it could lead to high blood pressure, high blood sugar and a greater risk of illness in future.
The study by German researchers say the bottom and thighs are safer places to store fat on the body, making women who with big thighs and buttocks safe.
According to the study published in the journal, Cell Metabolism suggests that putting on hip and leg fat could even be beneficial for some thin people with diabetes or heart problems.
Dr. Norbert Stefan, the study’s lead author, from the University of Tübingen, says, “It is better for people of normal weight to be pear-shaped rather than apple-shaped, so that weight is carried on the bottom half of their body rather than around the middle.
“The hips and thighs offer ‘safe storage’ for fat, stopping it from getting into the blood and reaching the organs.”
After the research, 981 people found with a high risk of type 2 diabetes and cardiovascular disease are those with smaller hips and thighs. This was based on MRI scans of fat distribution around the body and fitness checks.
Stefan says, “Fat in the hips and thighs is largely different from fat in the abdomen, called visceral fat. In pear-shaped people, these areas work like a sponge, with fat stored in fat cells where it cannot do much harm.”
The study suggests that being pear-shaped is better for lean people, while in overweight people it does little to help. The fat levels in their internal organs may already be too high for this to offer extra protection.
It concludes: “Genetic analyses suggest that metabolic risk appears to be determined by different pathways in normal weight and obese subjects.”
The All Progressives Congress (APC) in Rivers State is in the middle of a crisis, which if unresolved, could undermine its ultimate quest to wrest power from the ruling Peoples Democratic Party in 2019.
Penultimate Saturday’s APC Local Government congress has further exposed and deepened the fissure between Minister of transportation, Chibuike Amaechi and Senator Magnus Abe’s loyalists, battling for the party’s soul over who determines the governorship standard-bearer in the next general election.
Though the party’s leadership in the state has tried unconvincingly to downplay the stark division or better still, unprecedented level of disunity and chaos within the party, the fallout of the congresses has brought to the fore the reality that APC is at battle with itself.
On July 28, an APC stakeholders’ meeting that was supposed to deliberate on the statewide LGA Congresses held at ESI, 120 Woji Road, Port Harcourt under oversight of the state chairman, Davis Ikanya and some of the party’s national officers.
The meeting, which was initially slated to commence by 12 mid-day, could not start till past 2pm, when Ikanya and the national officers arrived.
A source at the meeting told The Guardian that people became apprehensive, when the chairman failed to explain modalities for conduct of the congress. Instead, he had directed the national officers to address stakeholders, as though they were there to speak about something he was unaware of.
She said: “What I know from experience as a party member is that either the chairman or the secretary, as the case may be, usually opens the day’s business by declaring the purpose of the meeting. For example, there should have been an explanation as to how the congress would be organised; that two officers would be sent to each LGA; that they would handle the result sheets, as well as conduct the congress proper. Also, that the officers would leave party secretariat by so-so time, and that members should be at their LGAs by so and so a time. But he did not do all these, which raised a lot of suspicion.”
Inquisitive members of the party, particularly those loyal to Senator Magnus Abe, started to ask the leadership to explain modalities of the congress, but to no avail. And in the process of demanding for clarification, the place became tensed, causing the meeting to end in a fiasco abruptly.
In line with political parties’ conventions, the party’s principal officers were supposed to be at the secretariat on the morning of the congress to oversee distribution of electoral materials. Further more, since the two national officers, who came to oversee the exercise couldn’t go round the 23 Local Government areas, the party ought to have appointed people of proven character 48 or 72 hours to the congress as the ad hoc electoral officers cum returning officers and give them the responsibility of going to the 23 LGAs to conduct the congresses. The names of those appointed ought to have also been displayed, but this never happened according to a party source.
“Those appointed as ad hoc officers ought to have been at the party secretariat on Saturday, where they would then be mobilised to go to the LGAs. There was no sign of such activity at the party secretariat that morning. The chairman, secretary and Organising secretary were not there that morning, which further heightened the suspicion. So, people were wondering: ‘If you say the congress would be conducted at the LGAs, where were the officers taking materials down to the councils?’” she said.
After waiting at the secretariat for several hours without seeing any party official, thousands of Abe’s supporters, who had gathered at the venue to observe distribution of electoral materials that morning, decided to storm Novotel Hotel, along Stadium Road, Port Harcourt, where the national officers were lodged.
The irate supporters, who barricaded the hotel entrance, demanded that the national officers explain to them modalities for conduct of the congresses. They insisted they wanted the congress to hold, as they were opposed to imposition of delegates. At that point, the officers started dragging their feet and amid the altercation that ensued, the police had to intervene to avert a breakdown of law and order.
At this stage, the aggrieved parties now moved to the office of Commissioner of Police, who brokered a truce among the warring parties. He advised that all grievances should be resolved through the party internal mechanism.
Senator Abe, representing Rivers South East Senatorial District, had commended APC members in the state for resisting attempt by party leadership to shut out those on his side at the congresses.
He said it was obvious that the leadership designed the congress to shut out his supporters. He commended those who came out and defied not only nature, but also the instruments of oppression to make a point that the party can no longer be a home of impunity.
He said: “The party has already issued a list of delegates for the national convention and has completely eliminated all perceived Abe’s supporters. Obviously, a section of the party’s leadership is determined to go it all alone without Abe and his supporters.”
APC chairman, Davis Ikanya, has blamed external forces for the discrediting of the congresses. He said the party felt displeased that, irrespective of announcement that the congresses will hold in the Local Government Areas, but surprisingly, most of the party chieftains mobilised their supporters and associates to Port Harcourt for reasons the party leadership is still trying to fathom.
But Ikanya’s stance not withstanding, Abe’s faction is most unlikely going to accept the list of delegates announced by the party chairman. With the emerging battle within the APC, which has left it in disarray, it is unclear how the party can, or ever will reunite before the 2019 elections.
A core Abe supporter, who pleaded anonymity, told The Guardian that all those being paraded, as party delegates never went through any form of congress. He insisted that Abe’s supporters would continue to advocate properly conducted congresses..
“You can see that that list is a prepared one. You can see that even before the congress, they had agreed that this is what they would do, which is not good for the party’s image. In a congress, even if it is by affirmation, you have to go there to mention a candidate’s name and others. Then a vote has to be taken there, assuming that person has unanimous support. A vote still has to be taken that so and so number of persons, who presented themselves for the congress, and out of this number, so and so number stood behind the person, which is then recorded, in case of a contest. In this instance, even if it is non-elective, you are supposed to organise it in a manner that meets national standard,” he said.
Currently, the APC could best be described as a party at war with itself. Many of its members have become increasingly disaffected, with the lack of internal democracy, which almost tore the party apart in 2014. Similar scenario is again playing out today. The likelihood of presenting a united front ahead of 2019 general elections will depend on who has the decisive say in the choice of governorship candidate.
Since 1999, Rivers politics has become highly personalised. The APC, as presently constituted in Rivers State, revolves around Amaechi, who remains vehemently opposed to Abe’s ambition to be the party’s standard-bearer in 2019.
It is apparent that the political manoeuvre that characterised the congresses was geared at excluding Abe’s core loyalties, as depicted by the list of delegates released by the party this week. A pro-Amaechi member said the congress is seen as a highly effective strategy to draw the final curtains on Abe’s governorship aspiration and to possibly force his exit from the party.
And though it might seem hasty to make detailed assessment of the impact of recent developments on the fortunes of APC, as it goes through a fierce period of chaotic competition for power, one thing remains clear, however, which is that the congress clearly signalled that the party is on the verge of a significant divide.
A noteworthy observation is that the APC has been far from being a unified political force after the selection of Dakuku Peterside instead of Abe, as the party’s governorship candidate in 2014. That polarisation, which has continued to plague the party, will definitely have political consequences.
In contemporary Rivers State politics, division in a political party has often led to wholesale realignment of politicians. So, ahead of the 2019 general elections, if the APC fails to recast its political arithmetic, sources within PDP have told The Guardian that the PDP will make political overture to aggrieved APC members in a bid to whittle down recent gains recorded by the party in Rivers State East senatorial district.
Already, the PDP has intensified its campaign of calumny against Amaechi, whom they feel the longer he stays in his current post as minister, the more he will strive to destroy their chances of retaining power beyond 2019.
But Abe, who seems determined to push his ambition through, irrespective of the stormy circumstance Amaechi’s faction created, has vowed never to leave the party.
“No amount of intimidation will make me leave the party. I was with the PDP, and we left because in that party, when something is going wrong and you shout from now till tomorrow, nothing will be done about it. But that is not the case in APC, as I am one of those that struggled and fought to establish it in Rivers State.
“I was the Secretary to the panel that conducted the primaries in Kogi State. I know what we did. I saw what happened in Edo. So, APC is not PDP. If I leave this kind of party for another, where I know if they are doing something wrong and I shout endlessly, nobody will respond. What am I going to do in such a party,” he queried.
There is no doubt that this is, indeed, an extraordinary moment in the political history of both Amaechi and Abe, who are the major gladiators battling for control of APC’s soul. Their failure to resolve the internal wrangling and acrimony amicably might severely erode the party’s goodwill in areas where it recently made inroad during the December 2016 rerun legislative polls. Culled from The Guardian Nigeria
The Chairman of Arewa Youth Consultative Forum (AYCF), Ambassador Shettima Yarima, has said the quit notice given to Igbo in the northern states stands, pending the outcome of their current consultations across board.
“Our stand on Biafra still stands. But when the period expires, we are not going to expel them by force. We don’t have the constitutional power to do that. So whoever does not believe in Nigeria can leave at his will peacefully. We are not using any force to eject them from the North,” he said.
Yarima spoke at a town hall meeting organised by a coalition of northern youths at Ni’imah Guest Palace Hotel, Kano under the leadership of Nastura Ashir Sharif.
In his keynote address, Sharif said that apart from the quit notice, they had also written to the United Nations on the violent activities of the leader of the Indigenous Peoples of Biafra (IPOB), Nnamdi Kanu, urging them to declare him a terrorist and his agitation illegal.According to him, the Arewa youths are still expecting a response from the UN which would guide their next move. “That is why we say our quit notice still stands and our resolve that anybody who doesn’t want to stay in Nigeria should vacate our region still stands, but we are not going to use force to actualize that. We will do it through peaceful means, this is because of the fact that one cannot be living with us and talking Biafra,” Sharif stated.
He said it was sad that people focused more on the quit notice issued by the northern youths rather than on a “presented recorded video evidence where Nnamdi Kanu called for genocide like what happened in Rwanda.”
Sharif revealed that “After our Kaduna Declaration, when we issued a quit notice to all Igbo residing in the North to leave the region on or before 1st October, 2017, we received various calls from people both within and outside the country telling us to review our stand and come up with other demands or issues affecting the North.”
He said they were advised to go beyond Biafra issue and come up with strategies to tackle issues bothering on economy, unemployment, security, Almajiri and drug abuse as they affect the North.
“We are indeed heeding the calls, that is why we are here in Kano holding a Town Hall meeting in line with the advice. We would organise similar meetings in North East and North Central after which we will come up with our final stand regarding this issue,” he said.
Prof. Aliyu Jibia, who is the chairman of the Arewa Summit Development Initiative, in his submission, lamented the issue of Almajiri, urging the people to rise against the menace by proffering lasting solution to it.
He revealed that on the 1st of October, the group would hold a one- million-man march to sensitize the people on the menace of Almajiri that has been affecting the region for many years. Source: The Guardian NG
The swollen belly of his pride! See Pictures of Gov. Amosun’s New Multi-Billion Naira Mansion. Bliss is in the detail as high society makes ceaseless pilgrimage to the billionaire Politician’s manor
The Capital NG wrote “yes, nobody forgets billionaire governor of Ogun State, Senator Ibikunle Amosun’s new multi billion naira mansion in a hurry. Behind the gates of the impressive manor, luxury saunters in a colourful garb. The interior depicts his dreams of bliss; you could be forgiven for mistaking it for the fabled Atlantis. The panes of quaint decor, embroidered fabric and devices, ornaments the insides like the damasked wings of the pyralid.”
Amid its enchanting premises, you could get lost, especially if you are a first time visitor. Recurrent callers at the mansion have been known to marvel and keel over in humility, in deference to its lavish treats.
Senator Ibikunle revels in sheer tokenism. He played up this innate part of him days back when he made a song and a dance of deploying N4.5billion out of the N5.7billion the state got from the Paris Club refund for the payment of cooperative deductions to all categories of workers in the state. He said the remainder would be channelled to state expenditures.
The governor was quoted as saying that whereas the federal government advised state governments to use only 50 percent of the fund for payment of salaries and other such emoluments, he, in his magnanimity, decided to apportion 79 percent instead. Isn’t he just a selfless, caring and prudent governor?
But residents of the state know better. After all, this is the same governor will be moving into a sprawling, multi billion naira mansion located at First Avenue, Ibara Housing Estate, Abeokuta, the state capital. This is one of the most affluent areas in the state and Amosun’s mansion occupies a pride of place. Built by a leading Italian construction company, Monterosa, which has offices in Lagos, Amosun’s new home – sited on a vast expanse of land on which his old house was and other properties he reportedly arm-twisted the owners to sell – is valued at about N10billion because of the amenities therein.
With a 2-storey bunker, comprising a bullet-proof banquet hall that can sit 350 people and a car park that can accommodate 50 cars easily, workers on the mansion were made to work round the clock as preparations reached fever pitch for Amosun’s daughter and Abike Dabiri’s son’s wedding which held recently. The governor reportedly took his governor-colleagues, close friends and prominent Nigerians on a tour of the house where he also feted them after the wedding. Not a few of the guests were reportedly aghast at the obscene opulence and sheer needlessness of such mansion in a state where poverty still walks on all fours on the streets. The Capital NG
Zuriel Oduwole named on Forbes list of most influential African women
Zuriel Honored by Malta President H.E. Marie Louise Preca for Her Girls Education Work
Nigerian-American filmmaker and education advocate Zuriel Oduwole has, once again, been named on Forbes Afrique’s annual list of 100 Most Influential African Women.
Forbes Afrique, a franchise of the Forbes magazine is distributed in all 23 francophone African countries as well as Switzerland, France and Belgium.
First featured on the list in 2016, 15-year old Oduwole is joined on the list by other Nigerian women such as United Nations deputy secretary-general Amina J. Muhammad, CEO of MainOne Cable Funke Opeke and Standard Bank’s Chief Executive of Africa Regions Sola David-Borha.
“I am always thankful when anyone thinks I am doing something right because I have a lot to learn,” Oduwole told The Guardian.
“I hope many youths can see that they too can make a difference around the world or in their towns at any age.”
She was in Paris in June this year to speak at a UNESCO event where she was honoured for her work on Girls Education Globally by the President of Malta. The Guardian Nigeria
Neymar admitted that he chose to leave Barcelona for Paris Saint-Germain against the advice of his father on Friday, just before arriving in the French capital.
“A sportsman needs challenges. And for the second time in my life, I am going against the advice of my Dad,” the Brazilian wrote in a long post in Spanish on his Instagram account on Thursday night.
“Dad, I understand and respect your opinion, but my decision is taken, I ask that you support me as you always have done,” he added.
Neymar signed a five-year deal with PSG, in which he is expected to earn 30 million euros ($35.6 million) net per year, on Thursday.
He earlier severed his ties with Barcelona after paying the colossal sum of 222 million euros ($264 million) to buyout his contract.
That means the transfer is a new world record deal, more than double the previous record of 105 million euros paid by Manchester United to Juventus for Paul Pogba last year.
Neymar added that his family “has suffered a lot with problems that have occurred in this period of my career and deserve peace. It is a difficult decision, but one taken with the maturity of my 25 years.”
The player’s assurances could be seen as a way of hitting back at critics furious at his departure from Barcelona.
Catalan sports daily Sport on Thursday described the player’s entourage as “toxic”, blaming them for Neymar’s departure.
Sport wrote of “the fatal intersection of two diabolical factors: the money of Qatar (which owns PSG via QSI, their sovereign wealth fund) and the monetary and sporting ambition of the Neymars.”
Neymar’s father is extremely close to his son, supervising his career and the negotiation of his contracts.
He has become a celebrity in his own right, even appearing in an advert alongside his son, who had insisted upon arriving at Barcelona that his shirt should carry the name “Neymar Jr”.
Father and son are set to go on trial in Spain following an investigation into the player’s transfer to Barcelona from Brazilian side Santos in 2013.
“I have accepted the offer from PSG to try to help the club win the titles the fans want. They presented to me an audacious career plan and I think I am ready for it,” added Neymar on Instagram.
Of his four years at the Camp Nou, he added: “I have won everything a sportsman can win. I have experienced unforgettable moments.”
Sokoto State Executive Council has approved the execution of road projects worth N1.4 billion within Sokoto metropolis and some selected locations across the state.
The state Commissioner of Information, Alhaji Abdulkadir Jalil, disclosed this on Friday in a joint press conference on the outcome of the council’s meeting.
Jalil said the projects aimed to improve the well being of the people of the state as well as fulfill the election promises of Gov. Aminu Tambuwal.
He said the projects, whose contracts had been awarded, were spread among various sectors with execution period of between three and twelve months.
He said legitimate contract award procedures were complied with and competent companies had were given the jobs.
The state Commissioner for Lands and Housing, Bello Abubakar, said three major roads would be constructed within Mabera area of the state capital and would cost approximately N1.2 billion.
“The Mabera roads include: Wali Bako Hospital-Tsohon Gida-Eastern Bypass road awarded to Habib Engineering Ltd. at the cost of N319 million.
“The others are: Kantin Sani-Tsohon Gida junction road awarded to Mothercat Ltd. at the cost of over N262 million with a completion period of 12 months.
“And Murtala Muhammed Specialist Hospital-Sabon Gida road leading to FGC which was awarded at the cost of just over N322 million,” Abubakar said.
The commissioner said other road projects approved by the Council included Pepsi Cola to NTA junction along Garba Muhammad road awarded at the cost of over N127 million.
He also said that Interchange road from CBN to Union Bank roundabout awarded to Roads Nigeria Ltd. would cost N59 million and construction of link road from Bodinga road behind Teaching Hospital to Argungu road was awarded at the cost of N86 million.
He said others included reconstruction of Agaie road from Kaduna road to Garba Duba road in Sokoto town, N96m, and the construction of 18km Goronyo main road-Illela-Gadon Mata road in Goronyo Local Government Area to cost of over N290 million.
On education projects, the state Commissioner for Basic and Secondary Education, Dr Jabbi Kilgori, said the council approved the rehabilitation and expansion of Government Day Sec School in Tambuwal Local Government Area and Government Day Secondary School, Kofar Rini, at a combined cost of N309 million.
He said the council had also approved the drilling of 12 solar boreholes in schools across the state, adding that four boreholes were to be constructed in each of the three senatorial zones in the state.
The Commissioner of Water Resources, Alhaji Arzuka Tureta, said the council had approved the rehabilitation of water tanks with a capacity for two million gallons at Old Market Area of Sokoto town at the cost of N78.1 million. NAN
Tension in Isara, as Governor Amosun’s Convoy knocks down four, Kills 2, others hospitalised
The ancient city of Isara was on Tuesday thrown into pandemonium as a convoy believed to be that of the Ogun State Governor Ibikunle Amosun ram into a crowd of students and Okada riders who trooped out to boo him, killing a student of the Gateway Polytechnic, Saapade and an Okada rider simply identified as Aliu.
The students were said to have lined up the streets on sighting the convoy and believed the occupants was the Ogun State governor and his entourage.
Another Okada rider, simply identified as “Ajebo” was also said to have been seriously injured and is currently receiving great at the intensive care unit of the Olabisi Onabanjo University Teaching Hospital (OOUTH) in Sagamu.
According to eye witness report, the Governor was said to have visited Isara as part of his assessment tour of the state and was not so lucky when citizens of the ancient town trooped out in their numbers to boo him.
Meanwhile, other sources disclosed that the governor was not in any of the vehicles as at the time of the incident, claiming it was one of the elected Chairmen of the newly created Local Government Council Development Area (LCDA) in Ode Remo who was in a bus, while the Okada riders were providing escorts for him before the bus rammed into them, killing one of them and a student while others sustained severe injuries.
The bus reportedly sped off after the incident as the crowd which gathered was about the mob the occupants.
