Nigeria Independent Day

 PRESIDENT Umaru Musa Yar'Adua has examined critical sectors of the nation and assured that the future was bright. He spoke this morning in a national broadcast to mark Nigeria's 49th independence anniversary. Also Senate President, David Mark, has urged Nigerians to renew their faith in the nation and stop being pessimistic.

 Yar'Adua looked at the problem of insecurity in the country, particularly the Niger Delta, infrastructure, the finance, especially the banks, inflation, gross domestic product (GDP), foreign reserve, transportation, the amnesty programme ending on Sunday, electricity, and others. He admitted that the dreams of the nation's founding fathers have not been completely met but again assured that the vision to join the league of the 20 largest industrialised nations by the year 2020 was still realisable. He said that the day offers "an opportunity for celebration, reflection, and rededication: Celebration of that historic day when we joined the league of free nations; reflection on how far we still have to go to give full meaning to our freedom, and the commitment we must continue to provide for the actualisation of the nation's dream of becoming one of the world's 20 largest economies by the year 2020." 

 President Yar'Adua admitted that the "promise of independence is yet to be fully realised. This however does not diminish the value of freedom and the eternal significance of the sacrifice of those who suffered to make us free. Rather than become another day of self- flagellation, today should be a forceful reminder of the promise yet to be fulfilled, of the dream deferred for too long, and of the work that is still outstanding." According to him, the "necessary work of repositioning Nigeria has commenced apace, and the over-arching task should be how to remain focused on the twin challenges of enthroning democracy and achieving sustainable development."  He spoke of the massive work his administration has done in the last two years in "confronting challenges of critical infrastructure, the Niger Delta, food security, security of lives and property, human capital development, land tenure and wealth creation."

  Yar'Adua hinted said that the goal of generating 6,000 megawatts of electricity by December was on course, the amnesty programme for repentant militants in the Niger Delta would end on Sunday and urged those who have not embraced it to do so. He said that the dredging of the River Niger would start soon, a holistic transportation system was being undertaken and work on ongoing roads across the country would continue. He praised the recent reform works in the banking sector and said that inflation has been checked.  However, in a goodwill message on the occasion of the nation's 49th independence anniversary signed by his Chief Press Secretary, Mr. Paul Mumeh, Mark noted that renewed faith in the nation would act as a fresh catalyst for future growth, progress and development. Mark noted: "Over the years, there has been a gradual progressive and incremental loss of faith in Nigeria by her citizens. This has given rise to apathy and at extreme ends, outright hostility to the nation and her citizens." This attitude and trend, he observed, must be reversed, noting that abiding faith is a major ingredient of nation-building. Describing Nigerians as highly resilient and resourceful, the Senate President said that rather than bottle up anger, resentment and frustration against the nation, Nigerians should dig deep to rediscover their hidden core for the nation and harness same into creative energy that would engender growth and development. He argued that the resilient character of the Nigerian nation, which he said had seen her through several trials and tribulations, including the civil war, inter-religious crises, political and economic upheavals, were required at this critical point in the nation's quest for development. "At 49, no one can argue that Nigeria has realised its full potential. This notwithstanding, we have made remarkable strides, especially in our steady march towards democracy and the rule of law. There are some successes we have to celebrate and consolidate."

  Mark reiterated the desire and determination of the National Assembly to amend aspects of the 1999 Constitution, adding: "The lapses in the ground norm have become obvious. Our gift to Nigerians at this 49th independence anniversary is a firm promise to amend aspects of the constitution that would fast-track our nationhood and make Nigeria a nation of pride for our future generations." He assured that "the constitution amendment process would be open and transparent, as all our actions would be guided by the genuine wishes and desires of Nigerians." Mark also expressed concern over the lingering face-off between the Academic Staff Union of Universities (ASUU) and the Federal Government and called for amicable resolution. He urged ASUU to call off the strike and return to the classroom as a gift to the nation for the 49th independence anniversary. Meanwhile, in its own message, All Nigeria Peoples Party (ANPP) called for policies that would be beneficial to a majority of the people. In a statement made available to journalists yesterday, the Publicity Secretary of the party, Mr. Emmanuel Eneukwu, regretted that while the country had been blessed with enormous resources, both human and material, such potential had not been put to maximal use by the previous leaderships. 

  According to him: "Ordinarily, we as citizens of the country should have every reason to be in celebrative mood, at least, for the fact that our dear country has attained this age, just one more year to the golden age of 50. So, for this reason, we must thank the Almighty God for keeping Nigeria united for these 49 years. "But beyond this, there is really very little to be cheerful about in the country today. What with the mounting unemployment of millions of our youths who are qualified and willing to work? "Is it the deplorable state of our roads most of which, in the last 11 years, have practically turned into death traps due largely to the lack of maintenance, in spite of the trillions of naira that has been appropriated for this purpose but which ironically has ended up in the private accounts of a few men of means and influence peddlers in our midst?”Is it the collapsed educational sector in which the university system has remained closed down for over three months while our leaders shamelessly fly into other countries to preside over the inauguration of a new university that we should be cheerful about? "Or are we to celebrate the embarrassing level of poverty in Nigeria today where majority of our people have no decent shelter over their heads nor can they afford to eat even twice a day? "Of course, the issue of power supply has become a luxury that discussing it is now a sheer waste of time. But if we must tell the truth, it has become a national shame that 49 years after our flag independence, Nigeria has become the largest market for electric generators which citizens spend over N700 billions of their hard earnings to fuel in a single year." He went further: "In all these however, the most embarrassing aspect of our national life in the last 49 years, has been our electoral system, which, since 1999, has continued to diminish the hope of the citizenry in participating in the process of deciding those who govern them.

  "Our failed electoral system, in addition to the unenviable record we have as one of the most corrupt nations in the world, has also become a source of concern to important members of the international community, so much that our dear country is treated like political leper among the comity of nations."  On its own part, the Arewa Consultative Forum (ACF) has said that the challenges of credible leadership and good governance have robbed the country of proper development and growth after about two decades of independence. Besides, the Bishop of the Anglican Diocese in Kaduna, Dr. Josiah Idowu-Fearon, also said that there was nothing Nigerians should be happy about after 49 years of independence, pointing out that "our leaders have to do more for the needed growth in the country." The Northern elders prayed in a statement: "May God make it possible for the present generation of Nigerians and their leaders to experience many more decades of such epoch anniversary". The national publicity secretary of the forum, Mr. Anthony Sani, in the statement, stated that "from the beginning, the Nigerian independence meant freedom from the shackles of colonialism to do things ourselves in our ways', noting that "hardly anything seemed amis then". "There was giddy optimism in the Nigeria project, during which period the faith in the nation was infinite. Nigerians all laughed it up, toasting one another and basked in the glow of cloudless future because Nigeria felt young with bags of aspirations and hope".

  The elders that these hopes "inspired Nigerians to come together - in a united whole - for the express purpose of living up their synergistic potential for common good." They however noted that "but, in the past one or two decades, such aspirations and resolve have been bleared by challenges of leadership", stressing that "as a result, few Nigerians are able to take basic needs for granted." "Yet, the situation is not beyond redemption, considering the human and natural resources, and given the political will needed to spur reforms that will make the peoples' votes count for emergence of leaders, at all levels of governments, who will have abiding faith in the judgement of the people; leaders who will construct a political order". Meanwhile, Bishop Idowu-Fearon urged Nigerians to be more dedicated for the building of a vibrant and prosperous Nigerian nation.

 

Source: The Nigeria Guardian Newspaper

Nigeria lunch new polymer naira note

The president of Nigeria Umaru Musa Yar'Adua launch the new naira polymer bank note N5, N,10, and N50 at the  state house,Abuja under the leadership of Governor of Central Bank, Lamido Sanusi on wednesday.

Yar' Adua urged Nigerians to accept the new polymer banknotes, also has Nigerians to support the "keep the Naira note clean " the campaign of the CBN He said that the redesign of the lower denomination of the bank note and coins as well as the introduction of a N2 coin in February 2007 represented a comprehensive reform strategy aimed at enhancing the efficiency of the currency structure. “I must express my pleasure at the outcome of the ongoing currency restructuring programmed of the CBN which gathered momentum 10 years ago with the introduction of higher banknote denominations of N100, N200, N500 and N1,000 between 1999 and 2005. “I am informed that the reform process resulted in huge cost-savings arising from the reduction in the size of the notes and the streamlining of their security features,'' he said. The president further observed that the printing of the N20 denomination on polymer substrate had not only been found to be strong and durable, but had been well received by Nigerians. “The demonstrated expediency of adopting the poly substrate in banknote printing informed my approval for the conversion of the other lower banknote denominations in October 2008 on the recommendation of the Board of the CBN,” he said.

    Yar’Adua expressed the hope that the Nigerian Security Printing and Minting (NSPM) Plc., which was involved in the printing of the new polymer notes, would realise its optimal capacity in no distant future. “By the time the polymer substrate is produced in this country in the long-run, there is no overstating the benefit to Nigeria, as self-sufficiency in currency production, which indeed is the ultimate objective of this administration, would have been fully actualised,” he added. The Governor of the Central Bank, Malam Sanusi Lamido Sanusi, who had earlier presented the new banknotes to the president for the launch, thanked Yar'Adua for granting approval for the new notes. He, however, said that the existing denominations of N5, N10 and N50 would remain legal tenders and would circulate side by side with the new polymer notes for the next six months. “The public can therefore, exchange their genuine old currencies in all banks, across the country,” he said.

Dozens killed' at Guinea protest

Several protesters feared killed in Guinea rally

UNKNOWN number of people were feared killed and seriously wounded yesterday after Guinea's security forces used tear gas, live ammunition and batons to quell an opposition rally. Opponents of junta leader, Captain Moussa Dadis Camara, had planned to hold a demonstration against plans mooted by the military for Camara, who seized power in a 2008 coup, to stand in elections due early next year.

The British Broadcasting Corporation (BBC) counted five bodies and witnesses confirmed other deaths. Camara initially pledged not to run in a presidential vote planned for January, but now seems likely to stand. Reports said the demonstrators were dispersed and the military mounted heavy checkpoints on many roadgs. Also, some opposition leaders were reportedly arrested and journalists targeted by the security forces. Camara staged a coup hours after the death of President Lansana Conte, who had ruled for more than two decades.

The military takeover initially had some popular support, but in recent weeks, there have been several anti-government protests. They appear to have been sparked by hints from Capt Camara that he may stand for president in January. In Conakry, demonstrators gathered outside the capital's largest stadium, carrying placards reading "No to Dadis" and "Down with the Army in Power", according to the Agence France Presse (AFP) news agency. But the demonstration had already been banned and the stadium was closed and guarded by large numbers of police. Clashes between police and demonstrators followed, with officers charging the crowds and firing live ammunition. Guinea expert, Gilles Yabi, told the BBC's Focus on Africa programme the rally was not surprising. "This is only the beginning of demonstrations and counter-demonstrations we can expect in the next few months," he said. Should Camara stand for president, he said it would be a violation of the tacit agreement between military and civil forces, which has kept him in power. And it would mark a perpetuation of the kind of rule that Guinea has seen for the past decade - which the military had promised to sweep away.

Camara's rule has been characterised by eccentric displays of power - such as forcing members of the elite presidential guard to beg for forgiveness on national television after they roughed up a veteran officer. Former aides and officials have been accused of corruption and links to the drugs trade, including the son of former President Lansana Conte, who was shown confessing on television to smuggling cocaine.

Educational System in Nigeria

Govt, ASUU resume talks today, SSANU plans prayers
 

THE intervention of Edo State Governor, Adams Oshiomhole, in the industrial disagreement between the Federal Government and Academic Staff Union of Universities (ASUU) seems to be yielding fruits as both feuding parties have agreed to meet today to explore areas of mutual understanding towards ending the four-month old strike action.

The Guardian learnt that the parley, scheduled for the National Universities Commission (NUC) in Abuja at 4.00 p.m. today, will be preceded by a parley between ASUU and Oshiomhole at the Labour House, headquarters of the Nigeria Labour Congress (NLC), at 11.00 a.m.

 
The meeting, it was further gathered, was meant to smoothen the grounds for the meeting with government officials later today.

Though the detail of those to attend the meeting was sketchy as at yesterday, The Guardian learnt that the President of the Congress, Abdulwaheed Omar, the General Secretary, John Odah, will be leading the ASUU President and his group to the meeting.

Meanwhile, the Senior Staff Association of Nigerian Universities (SSANU) has instructed its members to observe a three-day fasting and prayers for the early resolution of the imbroglio.

Addressing journalists in Abuja at the end of its emergency meeting, SSANU Deputy President, Malam Bala Gadanga Sokoto, said the association decided to seek God's intervention since the Federal Government has refused to listen to the advice of prominent Nigerians, including the pro-chancellors, traditional and religious leaders.

He said: "This emergency National Executive Council (NEC) has therefore ordered its members to fast and pray between the 5th and the 7th, three days, for God's intervention since government will not listen to the intervention of the Committee of Vice Chancellors, will not listen to that of the Pro-Chancellors and will not listen to that of Chancellors who are custodians of our culture. The important thing is that three very strategic committees, the Committee of Vice Chancellors (CVC), the Pro-Chancellors and finally the Chancellors who also double as the conscience and the custodian of our culture have intervened and government is not interested. We want to resolve this issue so that our students can return to school and give peace to their parents and guardians."

Though he welcomed the latest truce spearheaded by Oshiomhole, Sokoto stated that the effort might be futile if government comes to the meeting with a fixation of an already pre-determined position.

"His involvement is a welcome development. Not just because he is our leader, he is not a former leader, he is still our leader, but because anything that will be an equitable resolution to this issue must be encouraged, welcomed and supported because we believe that the issues at stake are simple and that any sincere arbitrator would be able to see that the issues can be resolved in a matter of days. But this matter cannot be resolved within the concept of a fixated position by the Federal Government but I am confident that our leader must have taken those into consideration before accepting this onerous task," he said.

Oshiomhole's intervention is the latest in the series of efforts by stakeholders to intervene in the ASUU/FG crisis.

The Senate Committee on Education, headed by Mrs. Joy Emordi, had tried unsuccessfully to persuade the teachers to go back to the classroom. The meeting between the committee and the ASUU leadership ended abruptly over a disagreement on how to resolve the crisis.

Besides, an attempt by the Vice President, Goodluck Jonathan, to resolve the crisis was rejected when the teachers were asked to suspend their strike. In August, after all attempts to resolve the issue failed, the Federal Government issued a warning that it would invoke the no-work-no-pay rule if the teachers failed to return to work.

And in a swift response, the ASUU leadership called the government's bluff, insisting that the strike would go on for as long as it takes their demands to be met.

In fact, ASUU's President, Prof. Ukachukwu Awuzie, accused the government of playing politics with the university system because, according to him, children of most government officials are not in Nigerian universities but in institutions abroad.

Education Minister, Sam Egwu, shot back, insisting that children of ASUU members were also in foreign universities.

Indeed, there have been several accusations and counter- accusations since the strike started. While the government gave the impression that the teachers were on strike because of salaries, the union insisted that the collective issues affecting the university system informed their latest action.

In an open letter by ASUU to President Umaru Musa Yar'Adua recently, the university teachers blamed the Federal Government negotiating team headed by Gamaniel Onosode for the current deadlock.

According to the teachers, despite the assurances they received that the team had the full mandate of its principal to discuss, resolve and sign an agreement with them, the same team turned around when it was required to sign the agreement after months of painstaking negotiation.

"When the negotiation ended in 2008, two years after it started," ASUU claimed in the letter, "in spite of his admission that he had the mandate to negotiate and sign an agreement with ASUU, your agent, Deacon Onosode, leading the government team, refused to sign the agreement reached by both sides, claiming that he was acting on the instruction of his principal."

What was particularly worrisome, the teachers further argued, was that "contrary to the principle of collective bargaining on July 10, 2009, Onosode announced that the negotiations were to be concluded by individual university councils." 
The union then queried: "Is it permissible in a game for the player to change the rules after the game is over and ask the other player to accept the changed rules whether they are legitimate or not?"

The teachers further noted that the government eroded the collective bargaining rule "when the Education Minister announced a 40 per cent take-it-or-leave-it award to ASUU," since "it did not come from the negotiation table." Besides, ASUU reminded the President that when the late Gen. Sani Abacha took a similar step in 1996, by referring ASUU to governing councils, "it (the step) was abandoned when it became clear that it had worsened the crisis."

They continued: "What is at stake is really that ASUU members are citizens, not slaves. ASUU insists on truth and honour in dealing with citizens. We said it that negotiation could end in one week. Those who prefer to leave the university system in crisis instead of promoting industrial democracy, truth and honour are the ones who have refused to sign and have decided toSSabrogate agreements validly negotiated."

Source: The Nigeria Guardian Newspaper

Ghana’s President, John Evans Atta Mills Made Debut

Ghana’s President, John Evans Atta Mills yesterday gave his maiden UN speech at the 64th Session of the General Assembly in New York. He used the occasion to draw the attention of the world body to the impact of the global financial crisis on African economies.

African countries, he said, will like to see the following:
• Rich countries making more effort to meet existing commitment on aid and debt reduction
• Accelerating disbursements and improving access to existing financial facilities
• Urging the International Monetary Fund to put in place a new facility with relaxed conditions to support African economies during this crisis period

• A capital increase for the African Development Bank to enable it to scale up its interventions in support of African development
• Sale of International Monetary Fund gold reserves to release additional resources to help developing countries deal with the financial crisis and
• Issuance of new special drawing rights

Below is the full text of the President’s address:
Mr. President,
Permit me to join previous speakers in congratulating you on your election as President of the 64th Session of the General Assembly. Your long and distinguished service to your country and Africa gives us the confidence that we
are in experienced and capable hands.

I also wish to express my delegation's appreciation to your predecessor, His
Excellency Mr. Miguel d'Escoto Brockmann, for the able manner with which he presided over the 63rd Session of the General Assembly.

Mr. President, This year marks the centenary of the birth of an illustrious son of Ghana and Africa, our first President, Dr. Kwame Nkrumah, under whose leadership Ghana became a member of the United Nations on March 8, 1957, only two days after achieving Independence.

We recall Dr. Nkrumah's proclamation before this august body on 23rd September, 1960, during the 15th Session, that "the United Nations was the only organization that holds out any hope for the future of mankind." It was at the same session that he also called for the reform of the Security Council in order to bring it in line with a rapidly changing world. More than forty years have since passed and those views remain relevant.

Mr. President, Then, as now, Africa faced deep crisis with profound and far-reaching implications for international peace and stability. Today, the combined effects of climate change, high food and energy prices and-the current financial and economic crisis threaten to erode the modest but hard earned economic growth and democratic achievements of the last two decades. Africa remains volatile and violent conflicts still persist.

Therefore, we must all support the United Nations and its regional allies, such as the African Union, to live up to these and other pressing challenges facing the international community. Mr. President, We acknowledge that globalization has expanded and accelerated economic interdependence among states. In contrast, the benefits of globalization have
been negligible in the majority of developing countries and their economies have not been transformed in any significant manner. Despite almost a decade of impressive growth of about 5 percent, only a few countries have been able to
reduce the proportion of their population living on less than US$1 per day.

Consequently, most of the countries remain susceptible to various external
shocks which continue to pose threats to their growth.
In fact, the over-reliance on high commodity prices and mineral exports has not
lessened but rather exposed the structural impediments to food security. This is
particularly true of sub-Saharan Africa where the on-going world financial and
economic crisis threatens to erode decades of modest growth and thereby make
the Millennium Development Goals unattainable in any meaningful way. Ghana,
therefore, reiterates her support for a global integration that ensures inclusive
and equitable development and effectively contributes to substantial poverty
alleviation, including full and productive employment as well as broad access to
social services.
A number of developing countries, including those in Africa, have taken various
steps to mitigate the impact of the financial crisi on their economies, including
interest rate reductions, recapitalization of financial institutions, increasing
liquidity to banks, trade policy changes, and regulatory reforms. In Ghana, fiscal
restraint has been exercised in response to the crisis, including cutting all low
priority public spending and shifting the balance from recurrent expenditure to
infrastructure investment.
In addressing the impact of crisis on their economies, African countries will like
to see:
• Rich countries making more effort to meet existing commitments
on aid and debt reduction
• Accelerating disbursements and improving access to existing
financial facilities
• Urging the International Monetary Fund to put in place a new
facility with relaxed conditions to support African economies during
this crisis period
• A capital increase for the African Development Bank to enable it to
scale up its interventions in support of African development
• Sale of International Monetary Fund gold reserves to release
additional resources to help developing countries deal with the
financial crisis and
• Issuance of new special drawing rights
Mr. President,
International trade carries enormous potential for reducing poverty and driving
economic growth that can lift millions of people out of poverty. The ongoing
Doha Trade Round is committed, at least in principle, to improve market access
2
for poor countries. This commitment is very important, especially in low-skill and
labour-intensive sectors such as garment manufacturing where most African
exports come from.
Sustained economic growth requires that poor countries increase their exports to
the rich countries. Unfortunately, the current global trading system discriminates
against developing countries, hinders their participation in the global economy
and damages the earning opportunities of farmers and rural.communities in poor
countries. Trade-distorting subsidies, as well as tariff and non-tariff barriers
instituted by most advanced countries have denied market access to African
products. For developing countries like Ghana a meaningful liberalization must
be accompanied by predictable access to markets, eliminating abuse of antidumping
measures and the reduction of tariffs and non-tariff barriers.

Continues*********

Source: accra-mail.com

Amnesty: Ateke Tom Picks 3,000 Forms For Associates

Niger Delta warlord and leader of the Niger Delta Vigilante Force, Ateke Tom has collected 3,000 forms from the amnesty committee, apparently to begin the process for the disarmament by his loyal foot soldiers. The move is coming just a few days to the October 4 deadline given all militants in the region to surrender their weapons and accept the Federal Government's amnesty offer. At Bomadi in Delta State, popular militant leader, General John Togo on Saturday embraced the amnesty deal and also promised to compel his associates to do the same in few days.  Ateke had said in an interview that he was already tired of remaining in the creeks but that there were certain conditions that the government needed to fulfill before he would surrender his weapons. He had even joined Government Ekpemudo (Tompolo) to call for an extension of the deadline to enable the government meet the various conditions he gave for his surrender.Part of the conditions, apart from his invitation to Governor Rotimi Amaechi to visit him in the creeks, was that the Federal Government should take steps to address immediately, the issues that gave rise to militancy in the region. Sources said on Friday that Ateke sent his aides to pick up the forms from the amnesty committee on his behalf. It was not clear where the forms were actually collected. But a security source said the government was appreciative of the resolve of the militant leader to disarm. Ateke himself had spoken of his readiness to disarm. He said: "I am very ready to turn-in my arms but that is if government is sincere. If the government would fulfill our demands, what we want them to do. They know our demands, they are not new.

"But I believe that President Umaru Yar'Adua is sincere and will fulfill his undertakings to meet these demands but let him no allow some people deceive him and derail him."
He was asked of the issues at stake. Hear him: "It is no new story, do we begin to talk about them again, don't you see how Abuja is. If they transform the Niger Delta like Abuja, is it wrong, is it not good? Boyloaf has disarmed and embraced the amnesty in Bayelsa. Some other Niger Delta militants had equally done so. But they brand us all sorts of names and we accept whatever tags they give us but we know that we are fighting for our rights, the Niger Delta cause. We know that the whole world knows what we are fighting for. But we are not saying that they must accomplish all these demands before we disarm and come out of the creeks but at least, we want them to do something, start somewhere that is assuring." Ateke does not however believe that people should be forced to turn in their arms. "If they give us from now till December, it will be okay because it is disbarment which process involves persuasion and exhortation. "It is not something you enforce. Similar things had happened in other areas or parts of the world. They were never forced to bring out arms. Even so, those people they made peace with or where peace was restored, their arms are still with them but in the case of Niger Delta, they said we must bring out our arms. "But we still take it in good faith because we want peace but the time frame is very short. They should extend it." However, his latest moves appear to have excited the government. A source in government circles said on Friday that the authorities were waiting anxiously to receive Ateke's arms.

Meanwhile, suspected militants were feared to have attacked five fishing boats at Bonny in the late hours of Thursday. They seized the engines of the boats but there was no reported casualty.
Also in Port Harcourt, a worker with the Nigerian National Petroleum Corporation (NNPC) who was identified as Elechi has been kidnapped in Akpajo in the Eleme Local Government Area of the state. Details of the incident were sketchy as at the time of this report. Security agents confided in our correspondent that efforts were being made to get the kidnappers. In Bomadi on Saturday, General John Togo, embraced the Federal Government's amnesty offer by surrendering a cache of arms and ammunition to the military Coordinator of the amnesty programme in Delta State, Lieutenant- Commander Yahaya Chindo.  He did at Ogodobiri, country home of former Police Affairs Minister, Aleowei Broadrick Bozimo in Bomadi Local Government Area of Delta State. But Togo vowed to go back to the creek for militia activities if the Federal Government fails to develop his impoverished community and attend to the issues of the Niger Delta region after the amnesty programme.

Togo who operated in the border area between Bayelsa and Delta States until 2005, when his attack and subsequent killing of some security operatives led to the sack of his community, Ogodobiri, in Delta state, declared: "this is all I have, I have given it all." The arms and ammunition surrendered by him included: four sub-machine guns (SMG), one general purpose machine guns (GPMG), six AK-47 rifles, two G3 rifles, one navy rifle, two pump action guns, three FN Rifles, and one Mark 4 gun. Others are 16 AK-47 Magazines, five FN magazines, four Tin of ammo, 30 dynamites explosives among others. About 94 "foot soldiers" of Togo still holed up in the creeks and were not part of the Saturday exercise, but the repentant militant vowed to evacuate them in few days since he has the assurance that the Federal Government amnesty programme would cater for them. Togo, had been arrested by the Joint Task Force (JTF) after he allegedly attacked the Chairman of Western Zone of the Ijaw National Congress, Chief Samson Mamamu, at his Salvation City community, Ogbe-Ijoh.

Togo, who was in JTF's custody for about three years before his release last year said he attached importance to the number of dynamites he has more than the guns saying, " 30 dynamites, for 30 oil wellheads, by the time I use only 10, Yar' Adua will know this is a serous matter." He however expressed delight over the amnesty offered him by President Yar' Adua, noting that he "accepted the olive branch to save his people and allow the Federal Government unveil its blueprint for the Niger Delta region." Former Commander and spokesman to Togo, 'Commander' Ebi Lagos said that Togo was dropping all he has because he had listened to advice by President Yar' Adua and all well meaning people of the Niger Delta. Lagos said that though Togo had embraced the amnesty, he wants the Federal Government to release George Saboma, (a.k.a. Egberipapa) and other militants in detention if it is sincere with the amnesty programme.

Security Adviser to Governor Emmanuel Uduaghan, Sheriff Oborevwori, who represented the Delta State governor at the occasion thanked the repentant militant for summoning the courage to disarm and appealed to others to come out and stop entertaining fear that the Federal Government would fail them. He said there will be no going back after acceptance of the amnesty and urged the remorseful militants to embrace the offer from their heart. Oborevwori, also appealed to Togo to talk to his colleagues to join the amnesty train, assuring that the Federal Government is poised to develop the region.

Independent Nigeria Newspaper

Lamido Sanusi said Chinese, British, South Africans Eye Nigerian Banks

Governor of Central Bank of Nigeria Say;

AFTER several weeks of about the sale of Nigerian banks to foreign investors, the governor of the Central Bank of Nigerian (CBN) Mallam Sanusi Lamido Sanusi has revealed that foreign investors had actually been eyeing Nigerian banks as early as last October, when the stock market started crashing.

He reiterated his position that the five banks have not been tabled for sale and explained that it was not just the five banks, whose CEOs were sacked on august 14) that had attracted investors' attention.

In an interactive session with the media, at the Marriot Grosvenor Hotel, on Wednesday, Sanusi said "we 're aware that a number of Chinese, South African and British banks had previously made enquiries in some banks - not just the five banks, but in other banks as well."

On whether, or not, the foreign banks had insider information on the health of the banks, Sanusi said: " No. But you must remember that the situation in Nigerian banks kept declining after October, when the stock market started crashing. They (Chinese and others) had always been interested in Nigerian banks because the potentials were there. On top of that, they thought that the banks were over valued and the valuations were becoming attractive by October and November, when some banks got sick."

Despite the suitors banging on the door, he made it clear that CBN has not given the green light to any potential buyer. " We have not encouraged anyone to come forward at this time," because the "priority at this time is the stability of the financial institutions. But we've made it clear that at the appropriate time, interests will be welcome. The priority right now is to make sure that the institutions are stable and returned to the path of competitiveness."




When a foreign journalist asked him if his brief was to sanitise the banks, Sanusi disclosed that President Umaru Musa Yar'Adua had actually lost confidence in his predecessor, Professor Chukwuma Soludo." I do know that the President did say that for a long time now, he'd been concerned about the health of the financial system and that the stock market had crashed.

"He was getting reports of banks giving ridiculous interest rates and remember, that the President used to be on the board of a bank, so he understands the signals of a distressed bank." Moreover, " he's heard reports of the rates some of the banks were offering and he has heard of pressure people were under in order to raise deposits."

Also, "he had seen what happened to the stock market; so, he believed he wasn't getting a true picture of the situation. He was also getting signs from foreigners he spoke to that there's a feeling of lack of confidence and that people did not believe the numbers being published."

So, "I do know that he had a few concerns and he really wanted to get to the bottom of that, as part of the responsibility of whosoever was going to take over the Central Bank.

"I know he did say at one time that I don't mind getting bad news," but the president felt he was being deceived then. " I don't want to sit here as President and not know what is really happening in the banks." So, "he said let's know what the bad news is and let's know what we're going to do about it.

"Naturally, "the initiative we took on August 14 was discussed in great detail with him and he gave us every assurance of support. And so far, we've had that support, because he understands that the issue at hand wasn't just about re-capitalising the banks, but that we also needed to clean up a very important sector of the economy and make sure that we lay a strong foundation for getting things right in the future."

Asked for his comments on reports that foreign banks were refusing credit facilities to Nigerian banks, Sanusi described it as untrue.

"It's not true, it's not true. To my knowledge, no bank has reduced it's lines. In fact, they have increased their lines. I mentioned Commerze Bank (during his speech) because their representative was here and he could confirm that they actually increased their lines."

Of course, "there was a degree of uncertainty, because people didn't know what was going on." But after the exercise, "we reached out to correspondence banks and told them what had happened. So, to the best of my knowledge, no bank has reduced it's lines."

The shareholders need to know that on seeing the reports (of the examiners) we had a number of options; we could have withdrawn the licences of the banks or could have handed them over to NDIC (Nigerian Deposit Insurance Corporation) and liquidated the banks." So, "the steps we've taking are to add value to shareholders," because , not only do "they still have the banks , we've put in money to save the banks, put in management to correct some of the mistakes and we're working with EFCC (Economic and Financial Crimes Commission) to recover their loans ."

Sanusi revealed that "we've recovered about N92 billion and all is going back to shareholdres' funds. That was capital eroded." He promised that CBN will " continue to act in the interest of creditors and depositors, and be transparent with all stakeholders.

Asked if the downgrading of Nigeria was justified?, Sanusi disagreed." The downgrade came from S &P , not from Fitch or other rating agencies. I personally don't agree with the rating and I've told them." Reasons being, " It came at a wrong time, at a time the oil price was going to $70. It came at a time oil production was going to 2 million bpd; it came at a time the transparency of the banks were being addressed."

He argued that ," at the very least, a rating agency should have waited until things settled down." To justify his position, he said," I don't think that anyone agrees with S&P, because I've looked at analysts reports, the banks themselves," more importantly, " the market itself has not reacted one bit, which means the market itself does not agree. If you remember, it was the same S& P that increased Lehman Brothers rating to A+, only for the bank to crash three days later (in Sept 2008). I don't think the market has forgotten that; so, this is another one they're getting wrong."

Guardian Newspaper(Nigeria)