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Category: General News

  • Illegal repatriation: MTN to refund $8.13bn as CBN fines 4 banks N5.87bn

    By Racheal Ishaya

    The Central Bank of Nigeria (CBN) has imposed a N5.87 billion fine on Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank over alleged illegal remittance of foreign exchange to offshore investors of MTN Nigeria Communications Limited.

    This is even as the  CBN has directed MTN to refund 8.13 billion dollars which was illegally repatriated by the company with the aid of the four Nigerian banks.

    In a statement issued by the CBN on Wednesday, the nation’s apex bank accused the commercial banks of carrying out the transaction without regular ‘Certificates of Capital Importation (CCIs)’ which is a compulsory pre-requisite for such transactions.

    The CBN Acting Director, Corporate Communications, Department, Mr Isaac Okorafor who issued the statement described the action of the banks and MTN as ‘flagrant violation of extant laws and regulations of the Federal Republic of Nigeria,”.

    Giving a breakdown of the imposed fines, Okorafor said Standard Chartered Bank would pay a fine of N2.47 billion, Stanbic IBTC, N1.88 billion, Citibank Nigeria, N1.26 billion and Diamond bank, N250 million.

    Okorafor while explaining the banks’ offenses, disclosed that investigations by the CBN revealed that 3.45 billion dollars was repatriated by Standard Chartered Bank on the basis of illegally issued CCIs.

    Similarly, he said the sums of 2.63 billion dollars, 1.766 billion dollars and 348 million dollars were repatriated by Stanbic IBTC Nigeria, Citibank Nigeria and Diamond Bank Plc, respectively during the period 2007 and 2015.

    He said the CBN had directed the affected banks to pay the fines to the apex bank immediately.

    Okorafor said that “the CBN investigation further revealed that on account of illegal conversion of MTN shareholders’ loan to preference shares (interest free loan) of $399,594,146.00, the sum of $8,134,312,397.63 was illegally repatriated by the company.

    He advised all banks and multinational companies in Nigeria to adhere strictly to the provisions of all extant laws and regulations of Nigeria in their foreign exchange transactions.

    He warned that failure by the management of banks and companies to abide by the existing guidelines, they would be appropriately sanctioned adding that the  sanctions may include denial of access to the Nigerian foreign exchange market.

    More Details:

    CBN’s letter to MTN says:

    Our investigation also revealed the following, among others:

    1. The shareholders of your company invested the sum of $402,590,261.03 in the company from 2001 to 2006;
    2. The investment was carried out through the inflow of foreign currency cash transfers and equipment importation, which was evidenced by the CCIs issued by Standard Chartered Bank (SCB), Citi Bank (CB) and Diamond Bank (DB);

    iii.     The CCIs issued at the time of the investment by the above banks to your organization in respect of the $402,590,261.03 showed that $59,436,923.44 was invested as shareholders’ loan and $343,153,339.56 as equity;

    1. However, a review of your organization’s financial statements for the year ended December 31, 2007 revealed that $399,594,146.00 was recorded/invested as shareholders’ loan and $2,996,117.00 as equity investment, in accordance with the shareholder’s agreement but contrary to the CCIs issued by the banks in (iii) above;
    2. Following a request by your organization through Standard Chartered Bank for CBN’s approval to convert the shareholder’s loan to preference shares, an approval-in-principle was granted vide our letter dated November 13, 2007; with the grant of final approval made subject to the fulfillment of the following conditions by your organization.

     

    1. Implementation of the decision in item 5B of your board resolution dated November 08, 2007 and submission of documentary evidence to that effect to the Director, Trade and Exchange Department of the Central Bank of Nigeria; and
    2. Provision of an undertaking that no remittance for either interest or principal repayment would be made to the shareholders from the date of the loan to the date they were converted to preference shares.
    3. In spite of the non-fulfillment of the conditions in (v) above and consequently, the non-issuance of a final approval by the CBN, your organization converted the shareholders’ loan to preference shares with Standard Charted Bank issuing new CCIs in respect of the illegal conversion;

    vii.    The action of your banker in aiding your organisation in the illegal conversion of the shareholders’ loan was later described by SCB in a letter to the CBN dated December 10, 2009 as an “unintended omission”; and

    viii.   On account of the illegal conversion of your shareholders’ loan to preference shares (interest free loan) of $399,594,146.00, the sum of $8,134,312,397.63 was illegally repatriated on behalf of your company by the aforementioned banks between 2007 and 2015.

    CBN’s Letter to Standard Chartered bank says:

    Our investigation also revealed the following, among others:

    1. The shareholders of MTN Nigeria Communications Limited invested the sum of $402,590,261.03 in the company from 2001 to 2006;
    2. The investment was carried out through the inflow of foreign currency cash transfers and equipment importation, which was evidenced by the CCIs issued by your bank, Citi Bank (CB) and Diamond Bank (DB) at the initial stage of the investment.
    • The CCIs issued at the time of investment by your bank along with the other banks in respect of the $402,590,261.03 showed that $59,436,923.44 was recorded/invested as shareholders’ loan and $343,153,339.56 as equity. This position was, however, contrary to the position in the financial statements of MTN Nigeria Communications Limited for the year ended December 31, 2007, which revealed that $399,594,146.00 was invested as shareholders’ loan and $2,996,117.00 as equity investment, in accordance with the shareholder’s agreement but contrary to the CCIs issued by your bank, Citi Bank (CB) and Diamond Bank (DB). Your action in this regard constituted a rendition of false returns to the Central Bank of Nigeria.

     

    1. Your bank subsequently applied to the CBN on behalf of MTN Nigeria Communications Limited for the conversion of the shareholder’s loan to preference shares, for which an approval-in-principle was granted vide our letter dated November 13, 2007 with the grant of final approval made subject to the fulfillment of the following conditions by MTNN:

     

    1. Implementation of the decision in item 5B of MTN Nigeria Communications Limited board resolution dated November 8, 2007 and submission of documentary evidence to that effect to the Director, Trade and Exchange Department of the Central Bank of Nigeria; and

     

    1. Provision of an undertaking that no remittance for either interest or principal repayment would be made to the shareholders from the date of the loan to the date they were converted to preference shares.

     

    1. In spite of the non-fulfillment of the above conditions in (iv) above and consequently, the non-issuance of a final approval by the CBN, your bank issued new CCIs in support of the illegal conversion of the shareholders’ loan to preference shares; an action that was later described by your bank in a letter to the CBN dated December 10, 2009, as an “unintended omission”; and

     

    1. On account of the illegal conversion of the shareholders loan to preference shares (interest free loan) of $399,594,146.00, the sum of $8,134,312,397.63 was illegally repatriated by your bank and the other banks on behalf of MTN Nigeria Communications Limited between 2007 and 2015.

     

    • Other findings from our investigation included the following:

     

    1. Your bank issued three (3) CCIs outside the regulatory 24 hours without the approval of the CBN;

     

    1. In contravention of Memorandum 24 (ii) of the Foreign Exchange Manual, which requires that CCIs should be transferred based on customer’s instructions to a bank of the customer’s choice along with the transaction history of the CCI, you provided confirmation to two other banks, Citibank and Diamond Bank, instead of transferring the CCIs to them as required by the Foreign Exchange Manual.

     

    The two banks on the strength of your confirmation subsequently remitted various sums as dividend for MTN Nigeria Communications Limited at different times; and

     

    1. Your bank failed to issue a letter of indemnity to the CBN against double remittance in respect of ten CCIs transferred by Diamond Bank and Citibank to your bank as required under subsection 5(iii) of Memorandum 24 of the Foreign Exchange Manual.

     

    Upon the conclusion of the investigation, the Committee of Governors of the Central Bank of Nigeria met with the management of your bank and the other banks as well as representatives of MTN Nigeria Communications Limited in Lagos on May 25, 2018. This was to give all the parties fair hearing, towards taking an informed decision on the matter.

     

    CBN’s letter to Stanbic-IBTC says:

    Our investigation also revealed the following, among others:

     

    1. The shareholders of MTN Nigeria Communications Limited invested the sum of $402,590,261.03 in the company from 2001 to 2006;

     

    1. The investment was carried out through the inflow of foreign currency cash transfers and equipment importation, which was evidenced by the CCIs issued by Standard Chartered Bank, Diamond Bank and Citibank, out of which eight of the CCIs totaling $377,216,508.30 were transferred to your bank by Standard Chartered Bank. Consequently, your bank repatriated the sum of $929,051,331.83 as proceeds of divestment from the CCIs valued at $42,704,408.61.

     

    • On account of the illegal conversion of the shareholders loan to preference shares (interest free loan) of $399,594,146.00, the sum of $8,134,312,397.63 was illegally repatriated by your bank and the other banks on behalf of MTN Nigeria Communications Limited between 2007 and 2015.

     

    • Other findings from our investigation included the following:

     

    a). Your bank falsely reported thirty five CCIs valued $313,683,925.84 inappropriately as “other purchases” in your MTR 203 returns for February 2008 instead of “capital importation”;

     

    1. Your bank issued eight CCIs of $58,359,616.67 in respect of foreign exchange sourced locally as shareholders’ loan. This constituted a contravention of the requirement of Section 15 of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995 and Memorandum 20 (1.3) (iii) of the Foreign Exchange Manual, which stipulate that CCIs should only be issued on capital imported;

    c). Your bank issued eight CCIs for capital inflows in form of machinery outside the 24 hours regulatory requirement of receipt of shipping documents in contravention of paragraph 4.1.1 (IV) of the Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for Fiscal Years 2012 to 2013;

     

    1. d) Your bank failed to issue a letter of indemnity to the CBN against double remittance in respect of twenty CCIs transferred by Standard Chartered Bank to your bank as required under subsection 5(iii) of Memorandum 24 of the Foreign Exchange Manual; and

     

    1. e) Your bank repatriated dividends totaling $905,260.20 in respect of CCIs illegally issued on the strength of locally sourced capital.

     

    • Upon the conclusion of the investigation, the Committee of Governors of the Central Bank of Nigeria met with the management of your bank and the other banks as well as representatives of MTN Nigeria Communications Limited in Lagos on May 25, 2018. This was to give all the parties fair hearing, towards taking an informed decision on the matter.

     

     

    CBN’s letter to CitiBank says:

    Our investigation also revealed the following, among others:

     

    1. The shareholders of MTN Nigeria Communications Limited invested the sum of $402,590,261.03 in the company from 2001 to 2006;
    2. The investment was carried out through the inflow of foreign currency cash transfer and equipment importation evidenced by the CCIs issued by your bank, Standard Chartered Bank and Diamond Bank;

     

    • The CCIs issued by your bank along with the other banks in respect of the $402,590,261.03 showed that $59,436,923.44 was recorded/invested as shareholders’ loan and $343,153,339.56 as equity at the time of the investment. This position was, however, contrary to the position in the financial statements of MTN Nigeria Communications Limited for the year ended December 31, 2007, which showed that $399,594,146.00 was invested as shareholders’ loan and $2,996,117.00 as equity investment, in accordance with the shareholder’s agreement but contrary to the CCIs issued by your bank, Standard Chartered Bank (SCB) and Diamond Bank (DB). Your action in this regard constituted a rendition of false returns to the Central Bank of Nigeria;
    1. Your bank issued seven (7) CCIs to MTN Nigeria (MTNN) totaling $42,126,803.04 that were subsequently transferred to Standard Chartered Bank Limited at the request of your customer (MTNN) on February 6,
    2. 2006, which constituted part of the CCIs that were consequently irregularly re-issued;
    3. Four of the CCIs issued by your bank evidencing the inflow of capital imported as cash were issued outside the period of 24 hours allowed by regulation upon the receipt of inflow, in flagrant contravention of Memorandum 22 of the Foreign Exchange Manual;

     

    1. Your bank failed to comply with extant regulations on the issuance of letter of indemnity to the CBN in addition to forwarding the transaction history of the CCIs to the CBN, as provided in Memorandum 24(5)(ii)(b) of the Foreign Exchange Manual in respect of the CCIs received by your bank from Standard Chartered Bank; and
    • Your bank purchased $535,000,000 on the basis of photocopies of Form “A” bearing the name of Standard Chartered Bank as the applicant bank and the referenced CCIs in contravention of Memorandum 24 (4) (a) of the Foreign Exchange Manual 2006.

    Upon the conclusion of the investigation, the Committee of Governors of the Central Bank of Nigeria met with the management of your bank and the other banks as well as representatives of MTN Nigeria Communications Limited in Lagos on May 25, 2018. This was to give all the parties fair hearing, towards taking an informed decision on the matters.

    CBN’s letter to Diamond Bank says:

    Our investigation also revealed the following, among others:

    1. The shareholders of MTN Nigeria Communications Limited invested the sum of $402,590,261.03 in the company from 2011 to 2006;
    2. The investment was carried out through the inflow of foreign currency cash transfer and equipment importation, which was evidenced by the CCIs issued by your bank, Citi Bank and Standard Chartered Bank;
    • The CCIs issued illegally by your bank along with the other banks in respect of the $402,590,261.03 showed that $59,436,923.44 was recorded/invested as shareholders’ loan and $343,153,339.56 as equity. This position was, however, contrary to the position in the financial statements of MTN Nigeria Communications Limited for the year ended December 31, 2007, which showed that $399,594,146.00 was invested as shareholders’ loan and $2,996,117.00 as equity investment, in accordance with the shareholder’s agreement but contrary to the CCIs issued by your bank, Citi Bank (CB) and Standard Chartered Bank (SCB). Your action in this regard constituted a rendition of false returns to the Central Bank of Nigeria; and
    1. On account of the illegal conversion of the shareholders loan to preference shares (interest free loan) of $399,594,146.00, the sum of $8,134,312,397.63 was illegally repatriated by your bank and the other banks on behalf of MTN Nigeria Communications Limited, within a period of six years.
    • Other findings from our investigation included the following:
    1. a) Your bank issued three CCIs in favour of Dantata Investment for the sum of $5million without converting the foreign exchange received into Naira as required by our regulations. On the basis of these illegally issued CCIs, your bank repatriated the sum of $102,545,336.77 in respect of these CCIs;
    2. A further review of the CCIs also showed that no Form “M” was opened as evidence of the utilization of the FX for the importation of goods (as “Not valid for FX”) into the country;
    3. Your bank remitted the sum of $348,914,501.38 as dividend to MTN Nigeria Communications Limited offshore corporate shareholders without any documentary evidence of the audited account of the company to justify the basis of the payment of the dividend declared and paid by MTNN. This action was a violation of the provision of Memorandum 24(4)(b) of the Foreign Exchange Manual;
    4. Your bank failed to indemnify SCB for losses and/or liabilities that may arise from the use of the CCIs you transferred to SCB in violation of the provisions of the Foreign Exchange Manual 2006;
    5. Your bank issued three CCIs outside the regulatory 24 hours without the approval of the CBN contrary to provisions of Memorandum 22 of the Foreign Exchange Manual 2006; and
    6. Your bank illegally remitted the sum of $352,222,358.39 on behalf of Standard Chartered Bank and Stanbic IBTC Bank in respect of the various CCIs issued to MTN Nigeria Communications Limited.

    Upon the conclusion of the investigation, the Committee of Governors of the Central Bank of Nigeria met with the management of your bank and the other banks as well as representatives of MTN Nigeria Communications Limited in Lagos on May 25, 2018. This was to give all the parties fair hearing, towards taking an informed decision on the matter.

  • 2019: Why youths must get PVC – group

    A non-governmental organisation, Healthy Sense Initiative (HSI), says Nigerians, especially youths,  who fail to vote in 2019 will lack the grounds to complain of bad leadership.

    “Politics has always been a game of numbers, which is domiciled in the youth as they are more than a half of Nigeria’s population,’’ the Founder of the group, Mr Chris Chukwu,  said on Thursday.

    Chukwu spoke with the News Agency of Nigeria (NAN) in Enugu.

    He advised youths yet to register for PVC to take advantage of the extension of the registration.

    Chukwu said that youths should also take advantage of the passing and signing of the Not-Too-Young-To-Run Bill to be more active in politics and leadership.

    He described the law as one of the greatest steps taken by the current administration.

    “The signing of the bill shows that President Muhammadu Buhari and lawmakers believe in the Nigerian youth.

    “It is an opportunity for the youth to dominate their world. Every Nigerian youth should embrace the uncommon change in Nigeria politics.

    “It is time to get ready for the future, and the only way to do this is by getting involved and getting the PVCs.

    “Your vote is your voice. It is the only way to vote for whoever you want to represent you from councillors to the president,’’ he said.

    Also in an interview with NAN, a state house of assembly aspirant in Imo State, Mr Chijioke Uzomba, said that the Nigerian youth was ripe and ready for leadership and governance.

    Uzomba, who aspires to represent Ideato South Constituency on the platform of APC, advised youths to be focused and diligent and selfless as well as possess integrity and courage to be good leaders.

    The aspirant urged cooperation of all Nigerians to ensure that elections at all levels would be credible, peaceful, free and fair to place Nigeria on a strong pedestal for advancement.

    He advised Nigerians of voting age to ensure registration for PVC before its Aug. 31 deadline.

    NAN reports that the Independent National Electoral Commission extended the deadline from Aug. 17.

    Collection of PVCs will, however, continue until the last week of the 2019 General Elections. (NAN)

  • Denmark now net importer of oil

    Denmark will presently  have to get used to being a net oil importer according to  figures released by Denmark’s energy agency Energistyrelsen.

    It said that  2017 was the last year when more oil was produced than was used on the Danish domestic front.

    At least the gas scene looks a bit brighter – here, it is predicted that Denmark will be a net exporter until around 2035 except for a single year when the rigs in the Tyra field are renovated.

    Denmark has been a net exporter of oil and gas since 1993, the last one in the EU for most of this decade.

    The energy agency has scaled down future oil production by 8 per cent compared to last year’s forecast.

    On top of that, it is expected that the utilisation of several fields and finds of oil and gas will be postponed, while the renovation of the Tyra rigs will mean a fall in production during 2020 and 2021.

    As of January 2018, oil reserves and potential reserves were estimated at 139 million cubic metres – which is enough for 18 years’ consumption.

    When it comes to gas, resources are estimated to be 72 billion normal cubic metres, which equates to 30 years’ gas supply.

  • FG’ll explore all avenues to benefit from Green Climate Fund — Minister

    The Federal Government said on Thursday that it would explore all possible avenues to ensure that Nigeria benefitted immensely from the Green Climate Fund (GCF).

    The Minister of State for Environment,  Mallam Ibrahim Jibril, stated this at a Gala Dinner and Certificates Award Night organised by the African Union’s (AU) Scientific, Technical and Research Commission in Abuja, to mark the end of a three-day Capacity Building Consultative Workshop for AU member states.

    The consultative workshop was an avenue to train representatives of African states on how to access the GCF.

    According to the minister, accessing the fund will go a long way towards addressing climate change-related issues in the country.

    He said that towards that end, the environment ministry was working closely with the Federal Ministry of Power, Works and Housing to generate renewable energy as a way of mitigating the effect of climate change.

    He added that it was in a bid to address climate-related issues that Nigeria became the first African country to raise the Sovereign Green Bond in line with the objectives of the Paris Agreement of 2015 to which it is a signatory.

    The minister stated that the government would encourage the 36 states of the federation to put beautiful proposals that would stand the test of time, to benefit from the GCF.

    He then urged participants and other stakeholders that participated in the consultative workshop to return to their various countries and apply the knowledge and lessons learned during the interactive sessions to help grow the various agencies, parastatals, organisations and academic institutions in their countries to grow.

    Highpoint of the evening was the award of certificates of participation to all the key stakeholders, participants and resource persons that were at the workshop.

    The New Agency of Nigeria (NAN) reports that at least 20 African were represented at the workshop. (NAN)

  • Photos: 18 Hours crowned Best Movie at AMVCA, other winners, losers

    The East African movie 18 Hours, which tells an authentic African story has been crowned the Overall Best Movie at the 6th annual Africa Magic Viewers Choice Awards, which held Saturday night at the Eko Hotel and Suites, Victoria Island, Lagos.

    The director of the movie, Phoebe Muguru was around to receive the award.

    The movie also won the best movie in East Africa. To emerge Africa’s best, the movie beat five other contenders, such as Potato Potahto, Alter Ego, Devil’s Chest, Descent and The Road to Sunrise.

    Omotola: wins best actress in a drama

    There were other winners at the ceremony which kicked off at 4pm Nigerian Time with the red carpet.

    Screen goddess Omotola Ekeinde won best actress in a drama series, in the flick Alter Ego, while Adekola Odunlade won best actor in the comedy ‘A Million Baby’. Nyce Wanueri won the best actress in a comedy/TV series for Auntie Boss.

    Lydia Forson: also wins best supporting actress in Isoken

    Singer Falz was also one of the winners. He beat other contenders, including veteran Saidi Balogun to clinch best supporting actor in New Money.Lydia Forson won the best supporting actress in Isoken.

    Falz: shines at AMVCA 2018
    Bisola
    Jade Osiberu
    Ali Nuhu wins in Hausa movie
    Nyce Wanjeri
    Shemu Joyah
    Lill Yafe: also a winner
    Sarika Hemi Lakhani
    Tunji Afolayan

    Here is the complete list of winners at the sixth edition of the annual Africa Magic Viewers Choice Awards.

    Best Sound Editor

    Idahaso Trails – Stanlee Ohikhuare

    Alter Ego – Zezom Gnawni

    Tatu – Kolade Morakinyo and Pius Fatoke WINNER

    Ojukokoro – Dayo Thompson

    Hakkunde – James Coon Falcon

    Best Picture Editor
    Idemuza – Aloaye Omoake

    18 Hours – Mark Maina WINNER

    Alter Ego – Moses Inwang/Tunde Bakare

    Hakkune – Asurf Oluseyi

    Hidden – Jibril Mailafia

    Best Lighting Designer Movie/TV Series

    Kada River – Godwin Gata

    Hidden – Agbo Kelly

    Tatu – Akpe Ododoru, Tunde Akinniyi WINNER

    Lotanna – McBaror

    Children of Mud – Sunday Olalekan

    Michael Akinrogunde: also a winner
    Ngozi Obasi: also a winner
    Yinka Edward

    Best Cinematography Movies/TV series
    Tatu – Akpe Ododoru

    Idemuza – Dickson Godwin

    T-Junction – Lester Millado

    The Torture – Rwamusigazi Kyakunzire

    Okafor’s Law – Yinka Edward WINNER

    Alter Ego – Bishop Blunt/Adeoye Adeniyi

    Best Costume/Designer Movie or TV Series
    Tatu – Yolanda Okereke

    Isoken – Jade Osiberu

    The Bridge – Ngozi Obasi and James Bessinone WINNER

    Potato Potahto – Christie Brown

    Hakkunde – Joan Gbefwi

    Best Short Film/Online Video
    The Housewife – Jay Franklin Jituboh

    Tolu – Nadine Ibrahim

    Penance – Micheal Ama Psalmist’ Akinrogunde WINNER

    Lodgers – Ken Ogunlola

    Tanwa, The Child We Wanted – Adenike Adebayo

    Best Documentary
    The Flesh Business – Dennis Wanjohi WINNER

    Nightfall in Lagos – James Amuta

    God’s Wives – Bolanle Olukanni

    Omidan, Styles Defunct by Ayaworanho3d – Aderemi Davies

    Calabar Carnival: What the People Think – Oghenefego Ofili

    Best Make Up Artist Movie/TV Series

    Tatu – Thelma Ozy Smith, Hakeem Effect Onilogbo WINNER

    Ojukokoro – Sandra Oyiana

    What Lies Within – Cynthia Ububa

    Disguise – Hakeem Effect

    Lotanna – Nnenna Emekalam

    Best Art Director
    Isoken – Jade Osiberu

    Tatu – Don Omope, Yolanda Okereke, Segun Arinze, Tolu Awobiyi

    Children of Mud – Imoh Umoren

    Lotanna – Tunji Afolayan WINNER

    Idahaso Trails – Stanlee Ohikhuare

    Hidden – Jibril Mailafia

    Best Soundtrack Movies/TV Series
    M0 – Tom Koroluk

    Banana Island Ghost – Enyi Omeruah and Funbi Ogunbanwo

    Bella – Andrew Ahuura

    Tatu – Evelle WINNER

    Idahosa Trails – Oriri Osayamore

    18 Hours – Jacktone Okore

    Best Indigenous Language Movie or TV Series – Swahili

    Super Modo – Sarika Hemi Lhakani WINNER

    Best Indigenous Language Movie or TV Series – Hausa

    Umar Sanda – Kamal S Alkali

    Dadin Kowa Sabon Salo – Arewa24

    Mansoor – Ali Nuhu WINNER

    Uwar Bari – Hamisu Lamido Iyantama

    Rashinsani – Tiana Johnson

    Best Indigenous Language Movies or TV Series – Yoruba

    Alakiti – Abiodun Jimoh, Jumoke Odetola

    Adaba – Adebayo Salami

    Etiko Onigedu – Femi Adebayo WINNER

    Egun Iran Kinni – Oyindamola Awotidebe

    Ogun Sengese – Ibironke Ojo

    Best Indigenous Language Movies or TV Series – Igbo

    Bound – Lilian Afegbai WINNER

    Ofuobi – Victor Oyke

    Uwa Na Eme Nyughari – Tiana Johnson

    Oge Nkem – Tiana Oboyi Johnson

    Ego Malaysia – Iyooh James Chidozie

    Best TV/Drama/Comedy series

    Gina and Friends – Paul Igwe

    Professor Johnbull – Tchidi Chikere

    Papa Ajasco Reloaded – Wale Adenuga

    This Is It – Dolapo Adeleke WINNER

    Relatives – Tunde Adegbola

    Best Movie East Africa

    18 Hours – Phoebe Ruguru WINNER

    Devil’s Chest – Hassan Mageye

    The Forbidden – Kizito Samuel Saviour

    Rain – Mathew & Eleanor Nabwiso

    Bella – Math Bish

    Best Movie West Africa
    Potato Potahto – Shirley Frimpong-Manso

    Alter Ego – Moses Inwang – Esther Eyibo

    Isoken – Jade Osiberu WINNER

    Tatu – Don Omope, Yolanda Okereke, Segun Arinze, Tolu Awobiyi

    Children of Mud – Imoh Umoren

    Lotanna – Ifan Micheal

    Best Movie Southern Africa
    Descent – Awal Abdulfatai

    The Road to Sunrise – Shemu Joyah WINNER

    Salute! – Phillipe Talavera

    Jomako Black Democracy – Abraham Kabwe

    Nyasaland – Joyce Mhango Chavula

    Trail Blazer Award

    Bisola Aiyeola WINNER

    Industry Merit Award

    Tunde Kelani WINNER

    Best Writer Movie/TV Series
    Idemuza – Alaoye Omoake

    Soul Tie – Kehinde Joseph

    Idahosa Trails – Stanlee Ohikhuare

    18 Hours – Njue Kevin

    The Torture – Mulindwa Richard

    Alter Ego – Patrick Nnamani/Koye O/Moses Inwang WINNER

    Hakkunde – Tomi Adesina

    Best Supporting Actress
    Toyin Abraham – Tatu

    Dorcas Shola Fapson – Banana Island Ghost

    Funlola Afofiyebi-Riami – Tatu

    Ebele Okaro – Blackrose

    Lydia Forson – Isoken WINNER

    Emem Inwang – Alter Ego

    Best Supporting Actor
    Saidi Balogun – Banana Island Ghost

    Tomiwa Edun – Banana Island Ghost

    Falz – New Money WINNER

    Kunle Idowu – Idahosa Trails

    Gabriel Afolayan – Okafor’s Law

    Wale Ojo – Betrayal

    Best Actress in a comedy and TV series
    Rita Dominic – Big Fat Lie

    Adesua Etomi – 10 days in Sun city

    Queen Nwokoye – Excess Luggage

    Bimbo Ademoye – Backup Wife

    Dakore Akande – Isoken

    Nyce Wanueri – Auntie Boss WINNER

    Best Actor in a comedy
    Kalu Ikeagwu- Dr Meekam

    IK Ogbonna – Excess Luggage

    Blossom Chukwujekwu – The Big Fat Lie

    Odunlade Adekola – A Million Baby WINNER

    OC Ukeje – Potato Potahto

    Jimmy Olukoya – Guy Man

    Best Actress in a Drama/TV Series
    Agaba Joan – The Torture

    Keira Hewatch – The Witness Box

    Miriam Kayode – Children of Mud

    Cinderella Sanyu – Bella

    Omotola Jalade Ekeinde – Alter Ego WINNER

    Lilian Echelon – Black Rose

    Best Actor in a Drama Series
    Wale Ojo – Alter Ego

    Kalu Ikeagwu – Benevolence

    Rushabiro Raymond – The Torture

    Adjetey Anang – Keteke WINNER

    Adjetey Anang – Sidechic Gang

    Chris Attoh – Esohe

    Best Director
    Moses Inwang – Alter Ego

    Aloaye Omoake – Idemuza

    Asurf Oluseyi – Hakkunde

    Don Omope – Tatu

    Jade Osiberu – Isoken WINNER

    Mulindwa Richard – The Torture

    Shirley Frimpong-Manso – Potato Potahto

    Best Overall Movie
    Potato Potahto – Shirley Frimpong-Manso

    Alter Ego – Moses Inwang

    18 Hours – Phoebe Ruguru WINNER

    Devil’s Chest – Hassan Mageye

    Descent – Awal Abdulfatai

    The Road to Sunrise – Shemu Joyah

  • Public Complaints Commission moves to solve deluge of complaints in pension sector

    Public Complaints Commission (PCC)  Boss,  Barr Chille Igbawua has began moves for effective resolution of a barrage of complaints to the commission by aggrieved Nigerians.

    Igbawua who spoke at a PTAD programme in Lagos said that “despite the various reforms in the pension sector in recent past, the Commission is still besieged by a deluge of complaints of delay, stoppage and non-payment of pensions”.

    The Chief Commissioner emphasised that PCC  “is vested with wide powers to inquire into complaints by members of the public concerning the administrative actions of any public authority and companies or their officials, and other matters ancillary thereto”.

    Igbawua noted the various types of complaints the Commission handled included delay and non-payment of pensions and gratuities in both the public and private sectors.

    He said that the Commission had for a long time been in collaboration with PTAD and had been involved in most its activities.

    Igbawua disclosed that “between 2016 and 2017 the Commission has received and investigated a total of two thousand, three hundred and forty nine (2349) complaints.”

    The Chief Commissioner said that  “from the experience of the Commission, the old pension system was characterized with the following problems; inadequate funding, political control of the public sector pension, pension payment default by state governments, flaws in pension record and disbursement and tardiness in pension disbursement. Unfortunately, some of these problems still persist.

    “This goes to show that there is still much to be done to reform the pension sector.

    “For this reason, the Commission is proposing to embark on a Systemic Investigation /Review of the Pension Sector with particular reference to the Direct Benefit Scheme (DBS).

    “This would involve the Commission doing an in depth research and holding an open forum with all stakeholders in the Pension Sector.

    Flowerbud News recalls that Igbawua was appointed early this year as the Honourable Chief Commissioner of Nigeria’s Ombudsman with a challenge to boost the operations of the Commission and delivery of its crucial mandate to Nigerians (FB News)

     

  • AMVCA 2018: Was CeeC the best dressed of the night? Be the judge

    The AMVCA 2018 held Saturday night at Eko Hotel and Suites. But on the sidelines of the main event, the female celebrities had their own grand slam of the most fashionably dressed for the night.

    From social media threads, CeeC (Cynthia Nwadiora) of the BBNaija 2018 fame appeared to have run away with the trophy in her regal red outfit. In contrast BamBam drew a lot of hisses for her ‘chicken’ like dress.

    We now ask you to be the judge.

    Bam Bam: outfit got the worst of reviews
    BBNaija’s Nina
    Fathia Williams
    Toyin Abraham
    Bisola
    Dlamini Jones
    BBNaija’s Nina
    Dlamini Jones: tries her luck again
    Lota Chukwu
    Lota tries again
    Here is Bisola again in a blue royale
    Omo Sexy
    Rita Dominic

  • Economic Devt :What I’ll do differently as President says Dankwambo

    Development
    By Admin
    Abuja, Sept.2,2018(Flowerbudnews) As the battle  for Presidency  gains momentum, Governor Ibrahim Dankwambo of Gombe State promises to tackle economic, security and technology challenges of the nation differently, if given the support.
    This was said on Sunday in a statement signed by Mr.  Ayoade Adewopo, Director of Communication ,Dankwambo Presidential Campaign,on the platform of Peoples Democratic Party(PDP),made available to the media.
    According to the former Accountant-General of the Federation, he has envisioned short and long term solutions to challenges of the nation,saying economic recovery will be the least benefit.
    “I will lead us to a new Nigeria where we shall harness our abundant resources, build a robust economy and partner with good people and well-meaning investors from nations across the world.
     
    “That will open the door for independent and economically self-sufficient Nigeria that will transparently eradicate corruption,  indoctrinal pollution, ethnic militia,  insurgency, Killer Herdsmen, Armed Robbery,Kidnappers without compromise to peaceful coexistence,” he said. 
     
    On how the technocrats cum politician intended to tackle issue of mistrust among certain ethnic and religious groups, he said it was surmountable for him. 
     
     
    “Having interacted very well with fellow Nigerians beyond primordial divides, I will ensure a polity that has respect for individual liberty and the rule of law that will bring dignity and prosperity to Nigerians and by extension, Africa as a whole.
     
    “I therefore call for partnership with fellow Nigerians for the realization of my long sustained vision for more unified, developed and peaceful country,” Dankwambo said.
    Led by Dankwambo,  Gombe State was one of the two northern states that survived ‘Buhari Tsunami’ in 2015,which paved way for All Progressives Congress (APC) to dominate the region until recent defections by some governors. 
    Having picked his nomination form, Dankwambo had started reaching out to party members across the nation by meeting PDP members in Edo and  Delta states.
    He would be contesting with 18 others including Alhaji Abubakar Atiku, a former Vice-president on Oct. 5 to emerge as candidate of the opposition PDP in 2019 Presidential election.

  • Buhari will award contract for Eastern Corridor Railways before December, VON DG assures

    The Director General of Voice of Nigeria (VON), Mr Osita Okechukwu, has said that the  Muhammadu Buhari  administration will award the contract for Eastern Corridor Railways before December.

    Okechukwu gave the assurance in a speech he presented at the  annual World Igbo Congress (WIC) which was held in Nashville Tennessee in United States.

    Okechukwu’s speech was released to the News Agency of Nigeria (NAN) on Sunday in Enugu.

    He said  President Buhari has  embarked on massive critical infrastructure to reposition the country for rapid growth and transformation in order to meet 21st century challenges.

    “The situation at home is not as bad as being painted and that all hope is not lost in Nigeria”, he said.

    “Buhari’s Roads, Rail, Agriculture and Power (RRAP PROJECTS) is the most massive infrastructure development ever embarked upon in Nigeria.

    “Without being immodest,  my understanding is that the Eastern Corridor Railways will be awarded before December  2018 and construction as directed by President Muhammadu Buhari will commence instantly.

    “All hope is not lost as being painted; one can reassure my brothers and sisters here.

    “Also, bearing in mind as well that some of the South-East governors are also doing their best to uplift the infrastructure and social amenities in the zone,’’ Okechukwu said.

    “I am bold to say that the Federal Government is today constructing the Second  Niger Bridge on direct contract,  not Private Public Partnership,  and 69 other ancillary roads across the South-East as applicable in other geo-political zones.

    “The construction of the Eastern Corridor Railways which will cover 18 states of the Federation will soon commence. Let nobody deceive you,’’ Okechukwu said.

    The Chairman of WIC, Prof. Anthony Ejiofor, called on Ndigbo at home or abroad to commit themselves to the  development of  the homeland, “as no group will do it for us’’.

    Ejiofor cited instances where Diaspora people liberated their home countries and appealed that “we cannot be an exception’’.

    Dr Stella Nwokeji, a renowned medical consultant, in her presentation pleaded for the establishment of Emergency and Rescue Medic-aid.

    She lamented that a lot of lives are on daily basis lost because of lack of emergency rescue and response plans,  especially in rural communities in the country.

    The World Igbo Congress was attended by Amb. Sylvester Nsofor, Nigeria’s Ambassador to the United States and his wife as well as Prof. Uzodimma Nwala, President of Ala-Igbo Development Foundation.

    Other prominent participants were  Prof. Anthony Ejiofor, 2018 WIC Chairman; Dr Richard Nwachukwu, Secretary-General of WIC; Chief Ejike Ekwuazi, Host President and Event Planning Committee Chairman and Dr Innocent Ubakam, Chairman of Economic Development Committee.

    There were also  Dr Ify Dike, Dr Luis Okonkwo, Mr Chudi Nnodu, Chief Sabi Nweke. (NAN)