I LEFT PDP 48 HOURS TO ELECTION TO SPITE MIMIKO ~OLANUSI

Ondo State Deputy Governor, Ali Olanusi, explains the issues he has with Governor Olusegun Mimiko and why he had to defect to APC few days before the last governorship election in this interview with Oluwole Josiah
 

I Left PDP 48 Hours To Election To Spite Mimiko–olanusi, Deputy Governor
How have you fared so far in politics?

I never imagined I would be deputy governor. When I was the Chairman of the Peoples Democratic Party, I hated cheating. I believed then that (Olusegun) Agagu, who was the governor was mistreating Olusegun Mimiko. At that time, if he (Agagu) called me to say that I should do something to Mimiko, I would tell him no. Since he had joined PDP and Agagu had made him Secretary to the Government, I felt he should be allowed to perform. I did not know that Dr. Agagu knew him well. I never worked with Mimiko before then politically. When I was in the UPN, he was not ripe enough to play politics. I was the chairman of a constituency at that time and I had grown politically. I bought vehicles for UPN and for late Papa Awolowo’s campaigns in 1979. In the Social Democratic Party, we were both in the same party but we supported different people. He supported Evangelist Olumilua while I was working with Dr. Olajide. Olumilua became the governor and when he appointed the members of his cabinet, he left out all those who did not back him during primaries. Most of his appointees were from Ekiti, so our people in Akoko South were not happy. Olumilua also sponsored a man I sponsored to become the Chairman of the Local Government to contest for the House of Representatives in the SDP, one Funso Babadele from Oka. At that time, I was not interested. I had even gone back to my business.


But didn’t you think you were too old for the position of a deputy governor?

I insisted that I was too old for the position. But Mimiko promised (which he kept to some extent, before he showed his true colour) that I would not be put under immense pressure. But I told my wife that the humiliation and insults that came with that position was much. I told her she shouldn’t complain whenever such arose. And she agreed. That was why she had to bear all we went through and that was why we were able to tolerate him and his wife up till this time before we decided to leave them.


Would you mention some of the maltreatments you suffered, specifically as deputy governor?

Immediately we were sworn in, Mimiko had his own plan from day one which was unknown to me. This was why many members of the party left after forming the government. What he introduced was very alien to the practice we met in the Western Region and in Ondo State. He was not the first governor anyway. He took over everything. He single-handedly selected the 22 commissioners. When I saw this, I was annoyed. But he pleaded with me and promised he would create the Local Government and Chieftaincy Ministry. He decided to create it in conjunction with the former chairman of LP, Olaiya Oni. I pleaded to be excused. I said I wouldn’t want to leave office and be going to Abuja to be reporting in the office of EFCC and ICPC. Eighty per cent of the accusations levelled against the last administration were about the money diverted from the local governments. He promised that he would put me in charge of a very powerful agency where a lot of money would be spent on power generation and that was better than the Ministry of Local Government and Chieftaincy Affairs. But I told him he should do what he wanted because I was not in the job for money. The prestige in that office was alright. I had a means of living. Within six months, all the responsibilities I had, as the chairman of State Tender’s Board and Joint Allocation Committee, where I presided over the monies coming from the federation account to the local governments, he went to the House of Assembly and got a bill to revoke the order where the deputy governor was chairman of JAC. I did not bother. He decided to select occasional members of the cabinet or chose any person he wanted to take over the job. There was no official pronouncement on that. This he did to render me completely non-functional. So, I came to the office, I read papers and so on.

Was that what led you to part ways with the governor?

Yes. After enduring the maltreatment, I had to leave. He had been unfair to me. I had endured hardship, but I did not count it as hardship. I am satisfied with my salary. It was clear that Mimiko did not value me. So for him to value me, I decided to leave 48 hours to the election. There were many things he did against me. It came to a point that even when I phoned him, he would not pick my call. When I complained, he said I should not call him directly, that I had to call his ADC, since he was permanently in Aso Rock Villa. It was only when he came back that he would be approving files. I actually asked him if he really said I should be calling his ADC when I needed his attention and he said yes. I just felt this was too much for me to bear.

We learnt you were also not happy with him because of the appointments he made…

Yes. I was not happy with the way he distributed his appointments. In my local government, he appointed just four commissioners in the last six years, whereas other local governments still have the ones he appointed in 2009. He has changed four commissioners, appointing them without my knowledge. He never consults me in any decision he makes. He said since they are going to be working with him directly, he has the right to pick them. What annoyed me was during this election, while we were preparing for it, he decided to pick the person who would represent my constituency. I considered that to be too much. If you say you can nominate candidates from other constituencies, it is wrong of him to go ahead to nominate a candidate in my own constituency; a candidate who has spent eight years in the House of Reps, to return for the third term to represent a constituency of four towns.

Since you said you started having issues with the governor right from the first day, why did it take you this long to defect and why did you even wait till the eve of the election to defect?
I am not in the office because of money. I am from a family background that respects constituted authority. My father was a traditional chief. With my age, I am not in a rush for money. With my age, I am contented with what I have. I have every cause to thank God. God gave me three children. They are doing fine. Even as deputy governor, my daughter still sends me money for cow and ram for Sallah. I told her not to bother, that I have enough, but she said she knew I was doing same for my father and that she would be doing it for me too. So I said alright. So, it is not money. I enjoy the love the Ondo State people have for me. I also respect eminent persons in the state.

But you haven’t told us why you chose to defect few hours to election day…

When Mimiko wanted to defect to PDP, I was here in Akure. He had been in Abuja for two weeks at the time. Early in the morning around 4am, the governor called me and asked where I was, I told him I was on my bed, he said alright and that he just wanted to hear from me. About three hours later, that should be around 7 or 8am, the Chief of Staff called me. I asked where he was calling from and he said he was in Lokoja. I asked what was happening, he said he thought the governor had sent for me, that he was on his way to Abuja to go and defect to PDP. Defect? That was what I wanted to do since last year. February last year, I wanted to return to the PDP, Mimiko pleaded with me that I should not. I stayed back. He went there, he defected with his commissioners. I only heard of it in the news. When he came back, I thought he would give reasons why he did not consult me but he did not say anything or mention it at all. I called him and complained to him. I told him what he did wasn’t right. I asked him why he would go to Abuja to defect to PDP without letting me know. One of the party officials even said I was not a member of PDP because when Mimiko defected with his commissioners, I was not there. It dawned on me that this action was not by mistake; it was deliberate. He said I was no more useful or relevant. I gave him 48 hours. After all the maltreatment he had given me, I said alright, I defected to APC since he did not even want me in PDP. He defected from LP to PDP while I defected to the APC. I don’t know why he is annoyed.

Fear Grips Politicians As Buhari Vows To Clean NNPC “mess”

Nigeria’s President-Elect, General Muhammadu Buhari has sent shivers down the spines of corrupt politicians, especially those in the oil industry, following his insistence on probing into the sleaze in the country’s main source of economy.

The country’s oil industry, which is under the control of the Nigeria National Petroleum Corporation, NNPC, is believed to have been enmeshed in deep corruption for the past 16 years.

Apart from the oil subsidy, which many allege to be a drain pipe, the Corporation has questions to answer on issues bordering on unremitted funds.

Before his election, Buhari had given respite to corrupt politicians when he announced during one of his campaign rallies, that every “sin” committed before May 29 hand-over date, will be forgiven.

Apart from Buhari, the national Chairman of his party, the APC, Chief John Odigie Oyegun had also at one of his pre-election speeches, mainatained that a Buhari presidency will not dig into the past.

Oyegun had then said that the insinuation that a Buhari presidency will send many Nigerians to jail, was a blackmail being masterminded by the PDP leadership, stressing that only those who may not want to change from their corrupt practices will have the retired General to contend with.

“The only people I think should fear the Buhari Presidency are those who do not want change. Those who want to continue with business as usual, are those who want to continue to profit from the level of corruption in the society. We will have no apologies for people like that. But it is clear that from the Buhari perspective and that of the APC, the future of the people of this country is too important for us to spend valuable time trying to dig into the past.

valuable time trying to dig into the past.


“The first moments of a Buhari Presidency the outlook is on the future. The message will be clear, whatever you engage in before that is detrimental to the people of this country, please stop it, change has come. It is time for change and anybody who decides that he does not want to be part of change and want business as usual that is his choice.

However, all that have changed as the retired General made a u-turn over the weekend, vowing that his administration would probe the $20 billion allegedly missing from the coffers of the NNPC.

DAILY POST recalls that former Central Bank of Nigeria, CBN, Governor, now Kano Emir, Sanusi Lamido, had raised the alarm over the alleged missing fund. The alarm cost Sanusi his job as he was removed un-ceremoniously.

President Goodluck Jonathan had also at one of his media chats insisted that no such fund was missing from the NNCP coffers.

However, a former CBN governor, Prof. Charles Soludo equally joined in pointing the present government at the face- accusing it of squandering the nation’s oil resources.

With pressures and many fingers on its face, the Jonathan-led government had called for an independent probe into the alleged corrupt activities at the NNPC.

The NNPC and the Nigerian Petroleum Development Company were later indicted by the investigative forensic audit done by PriceWaterHouse Coopers into the allegations of unremitted funds to the Federation Accounts.

In the reports released by the Auditor General for the Federation, Mr. Samuel Ukura, in Abuja, the accounting firm asked both organisations to refund to the federation account “a minimum of $1.48bn.”

Speaking on Sunday when he played host to a delegation from Adamawa State led by the state’s governor-elect, Bindow Jibrilla, in his campaign secretariat, Mr. Buhari said although he received information that some persons already started returning money to government coffers, he would only believe it when he “sees it”.

“I heard that some people have started refunding money, but I will not believe until I see it.

“His royal highness, the Emir of Kano, Sanusi Lamido Sanusi was removed from the Central bank because he said that about $20 billion was missing, instead of the government to investigate the matter, they refused, instead they sacked him. As God will have it, he is now the Emir of Kano and that is exactly what he wants to be.

“He has already written all the detail report on it, the incoming government will not ignore it, even though we have promised to draw a line, but $20 billion is too big to ignore. This is Nigerian money and it must be investigated,” Mr. Buhari said.

Apart from the probe, Reuters Agency had also recently reported that Buhari’s administration will replace the top management of the NNPC.

It will also review the accounts of the oil company to restore credibility, Reuters said, quoting sources within Buhari’s party, the All Progressives Congress (APC). It said the new government will submit a bill to break the NNPC into four entities, as already prescribed in the latest PIB draft. One APC source told Reuters that the Bill “will also, crucially, remove the oil minister from the NNPC’s board of directors to curb political interference.”

Others said more generally that the minister’s current powers would be heavily trimmed. Oil and gas will have separate companies for upstream, with a third covering pipelines and refining, while a fourth will be an inspectorate.

The proposal, according to the report, could be submitted to parliament in the first quarter of next year, one parliamentary APC source said. The NNPC Management is made up of Group Managing Director Dr. Joseph T. Dawha; Group Executive Director, Finance & Accounts Mr. Bernard O.N. Otti; Group Executive Director, Corporate Services Dr. Dan Efebo, and Member, Alhaji Abdullahi Bukar, who make up the Board.

Similarly, the APC in a statement issued in Lagos on Sunday by its National Publicity Secretary, Alhaji Lai Mohammed, decried the reported allegations of last-minute looting of the nation’s resources, hurried recruitment into the public service and rushed privatization of key financial institutions by the Jonathan Administration, warning that such egregious actions will have serious repercussions

The party said apart from the instances of such cases that have been reported by the local media, it has been inundated with calls and messages by concerned Nigerians, alerting it to the unscrupulous actions of some Jonathan Administration officials.

It said while the Jonathan Administration remains in office till midnight of May 28th and governance in the country will not stop because a new President has been elected, it is incumbent upon the outgoing Administration not to create any more problems for the incoming government than it had already done, or to tie the new government’s hands through some suspicious actions.

APC said while it is true that the incoming Buhari Administration will not get itself bogged down by an endless probe of the activities of the Jonathan Administration, all actions taken since the result of the May 28th presidential election was announced may come under the searchlight.

”For example, the National Council on Privatization, which is headed by the Vice President, has just approved the financial bid opening for transaction advisers for the privatization of the three Development Finance Institutions in the country – the Bank of Agriculture, Bank of Industry and Nigeria Commodity Exchange. The question is: What is the rationale for rushing this exercise with just weeks left for this administration?

”Also, there have been reports, yet unrefuted, of a planned hurried recruitment into the Nigeria Immigration Service, after a previous attempt ended in a national tragedy and the fleecing of innocent job seekers by mindless federal government officials. Apart from the fact that this last-minute recruitment is suspect, it is irregular.

”The Civil Defense, Fire, Immigration and Prisons Services Board (CDFIPSB) is only empowered to recruit, promote and discipline only senior officers (levels 8 and above). The power to recruit, promote and discipline junior officers is vested in the different services, in this case the Nigeria Immigration Service.

”Therefore, the recruitment exercise now being conducted by the Federal Civil Service under the auspices of the Presidential Committee to Assist on Immigration Recruitment usurps the functions of the Board as it relates to recruitment of Senior Officers (level 08) and that of the Immigration Service as it relates to Junior Officers (levels 07
and below),” the party said.It also called attention to a published report that the Minister of the Federal Capital Territory (FCT), Senator Bala Mohammed, plans to use the Federal Capital Development Authority (FCDA) to carry out a secret employment of no fewer than 500 workers before the end of April 2015.

”We do not know if this report, as well as others, is true. But if indeed these rushed privatizations and hurried recruitment exercises – in the twilight of the Jonathan Administration – are true, they raise serious questions concerning the reasons behind such actions. We are therefore compelled to call on President Jonathan to call his
Administration officials to order, lest they engage in actions that can later embarrass his Administration

”This is against the backdrop of the precarious situation into which the Jonathan Administration has plunged the nation’s economy, no thanks to years of ceaseless and unprecedented profligacy by the outgoing Administration, as well as mind-boggling acts of corruption and looting of the public treasury by some Administration officials
and their collaborators,” APC said

With these developments, a source within the NNPC told DAILY POST that there is serious anxiety among the top leadership of the corporation.

“Everybody in the oil industry is afraid over Buhari’s u-turn; there was relief in the industry when he said he would probe corrupt activities that took place before May 29, but his decision to now probe the missing N20b has changed all that.

“It is clear that he may even go beyond that missing N20b because the NNPC is a terrain he knows very well. So, he has put all politicians, especially those in the oil industry, on their nerves”, he stated

The Basics of Money Management

Getting paid and money management can be tricky business because, in addition to customers, cash flow and managing your accounts properly is what keeps your business humming along. Consequently, getting paid in full and on time, as well as understanding money management, has to become a priority, even if you elect to hire an accountant or bookkeeper to manage the books. You will still need to familiarize yourself with basic bookkeeping and money management principles and activities such as understanding credit, reading bank statements and tax forms, and making sense of accounts receivable and payable. You also have to give careful consideration to the purchase payment options you offer customers, including cash, checks, debit cards, credit cards and online payment options, as well as establishing payment terms and debt collection in the event of nonpayment.

Opening a Bank Account

Once you've chosen a name and registered your business, you will need to open a commercial bank account. Setting up a business bank account is easy. Start by selecting the bank you want to work with--think small-business-friendly--and call to arrange an appointment to open an account. There's not much more required than that. However, when you go, make sure you take personal identification as well as your business name registration papers and business license, because these are usually required to open a commercial bank account. The next step will be to deposit funds into your new account (even $100 is okay). If your credit is sound, also ask the bank to attach a line of credit to your account, which can prove very useful when making purchases for the business or during slow sales periods to cover overhead until business increases. Also be sure to ask about a credit card merchant account, debit account, and other small business services.

Bookkeeping

When it comes time to set up your financial books, you have two options--do it yourself or hire an accountant or bookkeeper. You might want to do both by keeping your own books and hiring an accountant to prepare year-end financial statements and tax forms. If you opt to keep your own books, make sure you invest in accounting software such as Quickbooks or Quicken because they're easy to use and makes bookkeeping almost enjoyable. Most accounting software programs allow you to create invoices, track bank account balances and merchant account information, and keep track of accounts payable and receivable.
If you're unsure about your bookkeeping abilities even with the aid of accounting software, you may wish to hire a bookkeeper to do your books on a monthly basis and a chartered accountant to audit the books quarterly and prepare year-end business statements and tax returns. To find an accountant or bookkeeper in your area, you can contact the U.S. Association of Chartered Accountants or the American Institute of Professional Bookkeepers . In Canada, you can contact the Chartered Accountants of Canada or the Canadian Bookkeepers Association .
If you're only washing windows on weekends to earn a few extra bucks, there's little need for accounting software or accountant services. Simply invest in a basic ledger and record all business costs and sales. Since you are doing it on your own, be sure to use a commonsense approach when calculating how much to invest in your business vs. expected revenues and profits. Also remember to keep all business and tax records in a dry and secure place for up to seven years. This is the maximum amount of time the IRS and Revenue Canada can request past business revenue and expense information.

Accepting Cash, Checks and Debit Cards

In today's super-competitive business environment, you must provide customers with many ways to pay, including cash, debit card, credit card and electronic cash. There is a cost to provide these payment options--account fees, transaction fees, equipment rental and merchant fees based on a percentage of the total sales value. But these expenses must be viewed as a cost of doing business in the 21st century. You can, however, reduce fees by shopping for the best service with the best prices. Not all banks, merchant accounts and payment processing services are the same, and fees vary widely. You can also check with small business associations such as the chamber of commerce to see if they offer member discounts; it's not uncommon to save as much as 2 percent on credit card merchant fees. Just remember, consumers expect choices when it comes time to pay for their purchases, and if you elect not to provide these choices, expect fewer sales.
Cash is the first way to get paid, which is great because it's liquid and there's no processing time required. As fast as the cash comes in, you can use it to pay bills and invest in business-building activities to increase revenues and profits. The major downside is that cash is risky because you could get robbed or lose it. In cases like that, collecting from your insurance company could prove difficult if there's no paper transaction as proof. Even if you prefer not to receive cash, there are people who will pay in cash, so get in the habit of making daily bank deposits during daylight hours. Also invest in a good-quality safe for cash storage for times when you cannot get to the bank.
If you're running a service business, one the most popular way people still pay for services is with a check. You have to take a few precautions to ensure you don't get left holding a rubber check, especially when dealing with new clients. Ask to see a photo ID and write the customer's driver's license number on the check. If the amount of the check exceeds a few hundred dollars, ask the buyer to get the check certified or pay with a bank draft instead, especially if the client is new to your business. Also get in the habit of checking dates and dollar amounts to make sure they are right. I have been caught a few times with wrong dates and dollar amounts and it can be time-consuming to have to get a new check because of a simple error.
Debit cards are another option, but to accept them, you will need to buy or rent a debit card terminal. Most banks and credit unions offer business clients debit card equipment and services. The processing equipment will set you back about $40 per month for a terminal connected to a conventional telephone line and about $100 per month for a cellular terminal, plus the cost of the telephone line or cellular service. There is also a transaction fee charged by the bank and payable by you every time there is a debit card transaction, which ranges from 10 cents to 50 cents per transaction, based on variables such as dollar value and frequency of use.

Opening a Credit Card Merchant Account

Many consumers have replaced paper money altogether in favor of plastic for buying goods and services. In fact, giving your customers the option to pay for purchases with a credit card is often crucial to success. This is especially true if you plan to do business on the web because credit cards and electronic cash are used to complete almost all web sales and financial transactions. To offer customers credit card payment options, you will need to open a credit card merchant account. Get started by visiting your bank or credit union or by contacting a merchant account broker such as 1st American Card Service , Cardservice International or Merchant Account Express to inquire about opening an account. Providing your credit is sound, you will run into few obstacles. If your credit is poor, you may have difficulties opening a merchant account or have to provide a substantial security deposit. If you are still unsuccessful, the next best option is to open an account with an online payment service provider, which is discussed in the next section.
The advantages of opening a credit card merchant account enabling you to accept credit card payments are numerous. In fact, studies have proven that merchants who accept credit cards can increase sales by up to 50 percent. Not to mention that you can accept credit card payments online, over the telephone, by mail and in person, as well as sell services on an installment basis by obtaining permission to charge your customer's credit card monthly or per agreement. Of course, all these benefits come at a cost, especially when you consider that you'll have to pay an application fee, setup fee, purchase or rent processing equipment and software, pay administration and statement fees, and pay processing and transaction fees ranging from 2 to 8 percent on total sales volume. Once again, these fees must be viewed as the cost of doing business.

Online Payment Services

Online payment services allow people and businesses to exchange currency electronically over the internet. These services are very popular with consumers and merchants. PayPal is one of the more popular online payment services with more than 40 million members in 45 countries, offering personal and business account services. Both types of accounts allow funds to be transferred electronically among members, but only the business account enables merchants to accept credit card payments for goods and services. The advantages of online payment services are that they're quick, easy and cheap to open, regardless of your credit rating or anticipated sales volumes, and you can receive payment from any customer with an e-mail account. You can have the funds deposited directly into your account, have a check issued and mailed, or leave funds in your account to draw on using your debit card. The only real disadvantage is that most services redirect your customers to their website to complete the transaction. This can confuse people who in some cases will abandon the purchase. Nonetheless, the advantages of online payment services far outweigh any disadvantages.

Establishing Payment Terms

Every small-business owner also needs to establish a payment-terms policy. Although you certainly want to standardize the way you get paid, at the same time you will also have to be flexible enough to meet clients' needs on an individual basis. Setting payment terms covers deposits, progress payments and extending credit. It's important to establish clear, written payment terms with clients prior to providing services or delivering product. Your payment terms should be printed on your estimate forms, included in formal contracts and work orders, and printed on your final invoices and monthly account statements.

Securing Deposits

If you're run a service business, you have to get in the habit of asking clients for a deposit prior to providing services, especially if the work also involves product sales that have to be paid for by you in advance. In this case, the deposit should be for at least the value of the materials. If you're supplying labor only, try to secure a deposit of at least one-third to one-half of the total value of the contract in advance of providing any services. Your order form or contract should have the deposit information clearly stated. Information on canceled orders or contracts and your refund policy should also be on your forms. Securing a deposit is your best way of ensuring that, at minimum, basic out-of-pocket costs are covered should the customer cancel the job or contract.

Progress Payments

Progress payments are also a way to ensure that you do not leave yourself open to financial risk. The key to successfully securing progress payments is to prearrange your contract and payment terms. Agree on the amount that will be due at various stages of the project. You can use percentages to calculate the progress payments, such as 25 percent deposit, 25 percent upon delivery of any materials, 25 percent upon substantial completion, and the balance at completion or within 30 days of substantial completion. Or you may arrange for more concrete progress payments based on indicators that are relevant to the specific scope of work, the job or the services provided. Regardless of the system you use, progress payments on larger jobs can dramatically lessen your exposure to financial risk.

Extending Credit

In most cases there's no need to extend credit to consumers unless you deliver a service such as pest control that's billed monthly or a major contract that is completed in stages. As a general rule, when a transaction is complete you should be paid in full. However, in the case of business-to-business sales, commercial clients will generally want some type of credit on a revolving-account basis, such as 30, 60, 90 or sometimes 120 days after delivery of the product or completion of the service. Ideally, you want to be paid as quickly as possible, so you might want to offer a 2-percent discount if invoices are paid within one week. And if you do extend credit, make sure to conduct a credit check first, especially when large sums of money are at stake. There are three major credit-reporting agencies serving the United States and Canada: Trans Union, Equifaxand Experian. All three credit bureaus compile and maintain credit files on just about every person, business and organization that has ever applied for credit.

Debt Collection

No matter how careful you are when it comes to extending credit privileges to customers, once in a while you will not be paid on time or at all. What can you do to get paid? The first rule of getting paid is to keep the lines of communication open with your delinquent client, and keep the pressure on to get paid through the use of nonthreatening telephone calls, letters and personal visits. You cannot legally intimidate clients into paying you, but you can explain why it is in their best interest to pay you--namely, to keep your business relationship intact, that nonpayment can hurt their credit rating or that you may sue them if they do not pay.
Another option is to hire a collection agency to collect the outstanding debt. Collection agencies generally charge a percentage of the total amount owed as their fee, which can range up to as much as 50 percent. The Association of Credit and Collection Professionalsis a good starting point for finding a collection agency to work with.
Your final option is to take the delinquent account to small-claims court, but remember that small-claims courts have limits as to how much you can sue for in your state or province, ranging from $1,500 to $25,000. Filing fees vary by state and province as well, and these must be paid upfront. But if you win, the fees are added to your award. As a rule of thumb, small-business owners that take people to court for nonpayment generally represent themselves, as the amount of the potential award is usually small and doesn't justify lawyers' fees and expenses. Even if you win, you will not necessarily be paid the amount you're awarded. You may win a judgment, but still have to chase the defendant through garnishment of income or seizure of assets to get paid. You can learn more about the small-claims court process and filing fees by contacting your local courthou

How to Lead and Succeed by Expecting Your Best

As such, I'm the very antithesis of those early lies about low expectations that I countered as a boy. While it wasn’t always easy getting to this point, I eventually learned -- with support from friends, family, coaches and teammates -- to “throw the challenge flag” at those lies and doubts I had allowed to grow within myself. I found a way to expect my best, which in turn has allowed me to lead and succeed. Here are the three parts of my formula:

1. Be ready.

Being ready means putting in the work daily that others do only occasionally. As the backup QB for the Steelers, I learned to take the reps I could get on the practice field, and take mental reps when I was on the sidelines. That physical and mental preparedness took me to three Super Bowls.

2. Be resilient.

We all get knocked down; it’s how you get up again that counts. When I was a student at Eastern Michigan University, my younger sister Danyl was shot and killed in the crossfire of gang violence. When I made it to the crime scene, I had a choice: Retaliate or be resilient. I chose resiliency and created the Best of the Batch Foundation. Today, each year we help more than 3,000 kids prepare for brighter futures.
Related: How Do You Build Resilience?

3. Be the pro.

Being the pro means stepping up and taking responsibility, treating others with dignity and respect and giving back to the communities that have given us so much.
When you expect your best in business and in life, amazing things can happen. Ask yourself, “What is your goal? What is your personal Super Bowl?” Then be ready, be resilient and be the pro to lead and succeed

How to Start a Business Online

There is a proven sequence of steps you can follow to guarantee your success when you're starting a small business online. I've seen thousands of people start and grow successful businesses by doing the following:

1. Find a need and fill it.
2. Write copy that sells.
3. Design and build an easy-to-use website.
4. Use search engines to drive traffic to your site.
5. Establish an expert reputation for yourself.
6. Follow up with your customers and subscribers with e-mail.
7. Increase your income through back-end sales and upselling.

Anyone, from newbie to seasoned online entrepreneur, can benefit from this process in learning how to start a business online.

Step 1: Find a need and fill it

Most people who are just starting out make the mistake of looking for a product first, and a market second.
To boost your chances of success, start with a market. The trick is to find a group of people who are searching for a solution to a problem, but not finding many results. The internet makes this kind of market research easy:

• Visit online forums to see what questions people ask and what problems they're trying to solve.
• Do keyword research to find keywords that a lot of people are searching, but for which not many sites are competing.
• Check out your potential competitors by visiting their sites and taking note of what they're doing to fill the demand. Then you can use what you've learned and create a product for a market that already exists--and do it better than the competition.

Step 2: Write copy that sells

There's a proven sales copy formula that takes visitors through the selling process from the moment they arrive to the moment they make a purchase:

1. Arouse interest with a compelling headline.
2. Describe the problem your product solves.
3. Establish your credibility as a solver of this problem.
4. Add testimonials from people who have used your product.
5. Talk about the product and how it benefits the user.
6. Make an offer.
7. Make a strong guarantee.
8. Create urgency.
9. Ask for the sale.

Throughout your copy, you need to focus on how your product or service is uniquely able solve people's problems or make their lives better. Think like a customer and ask "What's in it for me?"

Step 3: Design and build your website

Once you've got your market and product, and you've nailed down your selling process, now you're ready for your small-business web design. Remember to keep it simple. You have fewer than five seconds to grab someone's attention--otherwise they're gone, never to be seen again. Some important tips to keep in mind:

• Choose one or two plain fonts on a white background.
• Make your navigation clear and simple, and the same on every page.
• Only use graphics, audio or video if they enhance your message.
• Include an opt-in offer so you can collect e-mail addresses.
• Make it easy to buy--no more than two clicks between potential customer and checkout.
• Your website is your online storefront, so make it customer-friendly.

Step 4: Use search engines to drive targeted buyers to your site

Pay-per-click advertising is the easiest way to get traffic to a brand-new site. It has two advantages over waiting for the traffic to come to you organically. First, PPC ads show up on the search pages immediately, and second, PPC ads allow you to test different keywords, as well as headlines, prices and selling approaches. Not only do you get immediate traffic, but you can also use PPC ads to discover your best, highest-converting keywords. Then you can distribute the keywords throughout your site in your copy and code, which will help your rankings in the organic search results.

Step 5: Establish an expert reputation for yourself

People use the internet to find information. Provide that information for free to other sites, and you'll see more traffic and better search engine rankings. The secret is to always include a link to your site with each tidbit of information.

• Give away free, expert content. Create articles, videos or any other content that people will find useful. Distribute that content through online article directories or social media sites.
• Include "send to a friend" links on valuable content on your website.
• Become an active expert in industry forums and social networking sites where your target market hangs out.

You'll reach new readers. But even better, every site that posts your content will link back to yours. Search engines love links from relevant sites and will reward you in the rankings.

Step 6: Use the power of e-mail marketing to turn visitors into buyers.

When you build an opt-in list, you're creating one of the most valuable assets of your online business. Your customers and subscribers have given you permission to send them e-mail. That means:

• You're giving them something they've asked for.
• You're developing lifetime relationships with them.
• The response is 100 percent measurable.
• E-mail marketing is cheaper and more effective than print, TV or radio because it's highly targeted.

Anyone who visits your site and opts in to your list is a very hot lead. And there's no better tool than e-mail for following up with those leads.

Step 7: Increase your income through back-end sales and upselling 

One of the most important internet marketing strategies is to develop every customer's lifetime value. At least 36 percent of people who have purchased from you once will buy from you again if you follow up with them. Closing that first sale is by far the most difficult part--not to mention the most expensive. So use back-end selling and upselling to get them to buy again:

• Offer products that complement their original purchase.
• Send out electronic loyalty coupons they can redeem on their next visit.
• Offer related products on your "Thank You" page after they purchase.

Reward your customers for their loyalty and they'll become even more loyal.
The internet changes so fast that one year online equals about five years in the real world. But the principles of how to start and grow a successful online business haven't changed at all. If you're just starting a small business online, stick to this sequence. If you've been online awhile, do a quick review and see if there's a step you're neglecting, or never got around to doing in the first place. You can't go wrong with the basics.

8 Money Mistakes to Avoid on Your Way to Being Wealthy

The wealthy also avoid mistakes that big income earners and the rich make. Here are some common money mistakes you must avoid to create wealth:
1. Seeking comfort, not freedom. Comfort is the enemy of abundance and the most dangerous element of finances. The entire middle class is built on seeking comfort. The wealthy seek freedom and so much abundance that money is no longer dependent on their efforts. More is the mantra, abundance is the affirmation, comfort isn’t on their menu and freedom is the focus.
2. Diversification. You can never get truly wealthy by diversifying your investments. Wall Street has done a great job of selling the public on this idea of diversifying because it benefits Wall Street.
Mark Cuban says “Diversification is for idiots.” Andrew Carnegie said “put all your eggs in one basket and then watch that basket.”
If you want to create real wealth learn everything you can about a space and go all in.
3. Depending on one income flow. No matter how big your income is, never depend on one flow. I knew an executive who was earning $350,000 a year, the top 1 percent of all incomes. Suddenly the industry she worked in came to halt and her one income flow was shut down. This has happened to many Americans, destroying trillions of dollars of "pretended" wealth.
To create wealth, you must make investments that will create dependable streams of income flows, independent of your main source of income. I use rental income from apartments and partnerships in other companies to throw off passive flows of income. I continue to pay attention to each of these flows to make them stronger. This is not diversification -- it’s fortification of wealth.
4. Comparing to others. Seventy-six percent of working Americans are living paycheck to paycheck. Comparing your finances to others will ensure you never create wealth. People often compare their situation to some starving nation in a remote part of the world to justify being "better off." Another person’s finances, good or bad, will not pay your bills, won’t fund your retirement and will not provide you peace of mind. Don’t compare your finances to someone else’s.
Related: 6 Simple Strategies for Better Money Management
5. Investing in trends. Avoid investing in the latest and greatest technologies that can be displaced by new technological developments.
Warren Buffett invests in electricity, railroads, banks, insurance, soft drinks, food companies and candy.
Don't get on the roller coaster. Take the longer, slower ride that guarantees arrival.
6. Trusting without proof. The single biggest mistake of my financial life was naïvely trusting a group of people because I liked them and it felt right. I neglected to get proof that they were actually as they presented. Instead I went with my feelings and was deceived. By the time I figured out something was wrong, I was out millions.
Disregard your feelings when it comes to people and always look for solid evidence. If you are so close to people that you are not willing to ask them to provide evidence, make it a policy not to do business with them.
7. Saving to save. It is impossible to create real wealth just by saving money. The banks only pays .25 percent, so it will take you 40 years to grow your money 10 percent if rates stay where they are. More importantly, money that sits around idle always seems to find an emergency to fund.
Dave Ramsey suggests you not carry cash or credit cards because when either is available -- you’ll create a reason to use it.
To guarantee my wealth, since the age of 25, I moved surplus money into future investments accounts that I could not easily access, so that money was available for investments when I finally had the knowledge and courage to do so. This kept me broke and having to hustle constantly.
8. Pretender spender. On the other end of the spectrum is the pretender spender. They try to impress others with how they spend money. It’s not their money, it is always someone else’s. Sports cars, expensive clothes, designer bags, shoes, V.I.P. tables -- the list is endless.
The wealthy are not trying to impress anyone, they are seeking freedom.
When the wealthy hit affluence and abundance, they start throwing money around on ridiculous things -- cars, boats, planes, vacation homes. By then, it no longer matters that the things are poor investments. The very wealthy may appear to be flaunting their money with extravagances, but in reality they are not. The money they are spending is miniscule compared to the abundance they’ve created.
Sounds good doesn’t it? So what will it be for you: middle class, rich or wealthy?
You know money won’t make you happy and just getting by won’t either. There is a price to be paid for whatever choice you make. Wealth provides you with options and the person that has options has freedom

APC accuses Jonathan of ‘last-minute dubious activities’

The All Progressives Congress has threatened to probe the outgoing administration of President Goodluck Jonathan over some “last-minute dubious activities” ahead of the May 29 handover.

The party alleged that the outgoing administration had been looting the nation’s resources, hurriedly recruiting into the public service and privatisatising key financial institutions.

The APC, in a statement by its National Publicity Secretary, Alhaji Lai Mohammed, on Sunday, said such actions would have serious repercussions after May 29.

It said apart from media reports of such anomalies, the party had received reliable information from members of the public about some dubious actions by key officials of the outgoing Jonathan administration.

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The party said while the Jonathan administration remains in charge until the midnight of May 29, it was important for the outgoing administration not to create any more problems for the incoming government than it had already done, or to tie the new government’s hands through some suspicious actions.

The APC said although the Buhari administration would not needlessly probe the Jonathan administration, it would look into all actions taken by Jonathan’s administration after the March 28 presidential election.

The statement read, ‘’For example, the National Council on Privatisation, which is headed by the Vice-President, has just approved the financial bid opening for transaction advisers for the privatisation of the three development finance institutions in the country – the Bank of Agriculture, Bank of Industry and Nigeria Commodity Exchange. The question is: What is the rationale for rushing this exercise with just weeks left for this administration?

“Also, there have been reports, not refuted, of a planned hurried recruitment into the Nigeria Immigration Service, after a previous attempt ended in a national tragedy and the fleecing of innocent job seekers by mindless Federal Government officials.

Apart from the fact that this last-minute recruitment is suspect, it is irregular.

“The Civil Defence, Fire, Immigration and Prisons Services Board is only empowered to recruit, promote and discipline only senior officers (levels eight and above). The power to recruit, promote and discipline junior officers is vested in the different services, in this case the Nigeria Immigration Service.

“Therefore, the recruitment exercise now being conducted by the federal civil service under the auspices of the Presidential Committee to Assist on Immigration Recruitment usurps the functions of the board as it relates to the recruitment of Senior Officers (level 08) and that of the immigration service as it relates to Junior Officers (levels 07 and below).”

The party also called the attention of Jonathan to a published report that the Minister of the Federal Capital Territory, Senator Bala Mohammed, plans to use the Federal Capital Development Authority to carry out a secret employment of no fewer than 500 workers before the end of the month.

‘’We do not know if this report, as well as others, is true. But if indeed these rushed privatisation and hurried recruitment exercises – in the twilight of the Jonathan administration – are true, they raise serious questions concerning the reasons behind such actions.”

The APC urged Jonathan to call his officials to order in order to save him of embarrassment.

It said it was such recklessness that led to the downfall of Jonathan’s administration and it would be unfair to bequeath such to the Buhari administration.

It added, “We are therefore compelled to call on President Jonathan to call his officials to order, lest they engage in actions that can later embarrass his administration.

Fulani Gunmen Kill 30 In Benue, Nasarawa

Suspected Fulani gunmen on Saturday evening and Sunday morning attacked and killed 30 persons, mostly women and children, in Guma, Kwande, Buruku and Keana Local Government Areas of Benue and Nasarawa states.

The PUNCH gathered that the villages attacked in Guma LGA are Tse-Uosu, Tse-Gbudu Taraka and Branch Umenger in Mbadwem council.

In Keana, the invaders attacked Iornungun while in Kwande, the gunmen invaded Jato/Aka and environs just as many residents of Mbatie, Mbatsease and Mbaatungu Aji, all in Buruku LGA, were displaced by the armed herdsmen.

It was further gathered that apart from those killed, several others sustained varying degrees of injuries.

A fleeing native from Guma, identified as Suunen, told our correspondent that the gunmen stormed the communities while they were resting after the day’s work and started shooting sporadically at innocent and defenceless people of the area.

Suunen added that residents of neighbouring communities had fled their villages over fears that the suspected Fulani militias might attack their communities.

Another victim, Terungwa, said his mother narrowly escaped death from Mbatie and now taking refuge in Yandev, Gboko LGA.

The Commissioner of Police, Hyacinth Dagala, confirmed the attack and said eight corpses had been recovered.

He noted that the command had intensified surveillance just as additional security had been provided to stop the attacks from escalating.

How to Become a Millionaire by Age 30

Here are the 10 steps that will guarantee you will become a millionaire by 30.
1. Follow the money. In today’s economic environment you cannot save your way to millionaire status. The first step is to focus on increasing your income in increments and repeating that. My income was $3,000 a month and nine years later it was $20,000 a month. Start following the money and it will force you to control revenue and see opportunities.
2. Don’t show off -- show up! I didn’t buy my first luxury watch or car until my businesses and investments were producing multiple secure flows of income. I was still driving a Toyota Camry when I had become a millionaire. Be known for your work ethic, not the trinkets that you buy.
3. Save to invest, don’t save to save. The only reason to save money is to invest it.  Put your saved money into secured, sacred (untouchable) accounts. Never use these accounts for anything, not even an emergency. This will force you to continue to follow step one (increase income). To this day, at least twice a year, I am broke because I always invest my surpluses into ventures I cannot access.
4. Avoid debt that doesn’t pay you. Make it a rule that you never use debt that won’t make you money. I borrowed money for a car only because I knew it could increase my income. Rich people use debt to leverage investments and grow cash flows. Poor people use debt to buy things that make rich people richer.
5. Treat money like a jealous lover. Millions wish for financial freedom, but only those that make it a priority have millions. To get rich and stay rich you will have to make it a priority. Money is like a jealous lover. Ignore it and it will ignore you, or worse, it will leave you for someone who makes it a priority.
Related: LISTEN: How to Make a Million Dollars Online
6. Money doesn’t sleep. Money doesn’t know about clocks, schedules or holidays, and you shouldn’t either. Money loves people that have a great work ethic. When I was 26 years old, I was in retail and the store I worked at closed at 7 p.m. Most times you could find me there at 11 p.m. making an extra sale. Never try to be the smartest or luckiest person -- just make sure you outwork everyone.
7. Poor makes no sense. I have been poor, and it sucks. I have had just enough and that sucks almost as bad. Eliminate any and all ideas that being poor is somehow OK. Bill Gates has said, "If you’re born poor, it’s not your mistake. But if you die poor, it is your mistake."
8. Get a millionaire mentor. Most of us were brought up middle class or poor and then hold ourselves to the limits and ideas of that group. I have been studying millionaires to duplicate what they did. Get your own personal millionaire mentor and study them. Most rich people are extremely generous with their knowledge and their resources.
9. Get your money to do the heavy lifting. Investing is the Holy Grail in becoming a millionaire and you should make more money off your investments than your work. If you don’t have surplus money you won’t make investments. The second company I started required a $50,000 investment. That company has paid me back that $50,000 every month for the last 10 years. My third investment was in real estate, where I started with $350,000, a large part of my net worth at the time. I still own that property today and it continues to provide me with income. Investing is the only reason to do the other steps, and your money must work for you and do your heavy lifting.
10. Shoot for $10 million, not $1 million. The single biggest financial mistake I’ve made was not thinking big enough. I encourage you to go for more than a million. There is no shortage of money on this planet, only a shortage of people thinking big enough.
Apply these 10 steps and they will make you rich. Steer clear of people that suggest your financial dreams are born of greed. Avoid get-rich-quick schemes, be ethical, never give up, and once you make it, be willing to help others get there too.

 

 

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Reasons Why We Go To Church

Today, we have so many Christians who do not go to church for one reason or the other. Some see it as just a normal or religious gathering of people called Christians while some come up with excuse like “I forgot to get my clothes ready”, “I want to wash my clothes” “I don’t feel like going” blah blah blah!! If we really know the reason(s) why we should be in church always, we will not come up with these flimsy excuses. Majority of Christians today have a superficial understanding of this subject. That is why you will ask a Christian why do you go to church and all he can say is to worship. What do you mean by worship? If that is all you went to church to do, then that is not good enough. I pray God opens our understanding as we read through this post.
Here are some reasons why we go to church

Fellowship
Cooperate fellowship with the brethren and with the Holy Spirit (1Cor 1:9, 1John 1:3-7). Fellowship with the brethren is so important. It has its own way of keeping us in track. I remember discussing this subject with a friend and she told me a story how that she was a leader in her school fellowship and travelled to spend a particular holiday with her aunt. For some reasons, she did not follow her aunt to church all through her stay though she carves out time to study, pray and worship the Lord on her own every Sunday. When she got back to school, she said she noticed she could not join in the flow of the spirit easily like she used to. There was this difficulty in connecting. Well, thank God she did not remain in that state. The bible says iron sharpeneth iron (Prov 27:17)

To receive instruction
Instruction here is not the thou shall and thou shall not but instruction in righteousness. Instructions on how to live the life we now have as new creations in Christ Jesus. 2Tim 3:16

To receive information---information in the kingdom
Oftentimes we are somewhat confused on how to walk in the light of God’s word and end up sometimes believing God does not love me that much or I am not qualified for this blessing. If we go to church regularly and receive God’s word, we can nudge out of this idea. Jer 3:15 says; “And I will give you pastors according to mine heart, which shall feed you with knowledge and understanding.” Look at the preceding verse Jer 3:16a “And it shall come to pass, when ye be multiplied and increased in the land,…”. You see, our increase comes by yielding ourselves to the ministry of our pastors. I understand there are churches where they do not teach the word of God in depth. They do not hold in high priority, accurate teaching of God’s word. If you attend that kind of church and you are waiting for Jesus to come down from heaven to tell you to leave that church and join one where God’s word is taught, then you need not wonder why the stagnation in your spiritual life.

To be strengthened
Strengthened through the first three. Ps 84:7 They go from strength to strength, every one of them in Zion appeareth before God
Ps 133:3b “…for there the LORD commanded the blessing, even life for evermore.”

To worship
Through the prayer of adoration, songs of worship and praise that exalts God, offerings of worship and thanksgiving in demonstration of our commitment. Some may be surprised I listed offerings as a form of worship. Paying our offerings is one significant way of worshiping the Lord. We recognize Him as Lord over our lives and so we pay our offerings in honour, thanks and submission to Him.

To receive cleansing
We live in a world that is unclean and dirty. Gal 1:4 calls it “…this present evil world…” and we can be stained by so many different things. We can be stained in our minds, we can pick up negative thoughts and ideas. We therefore need to be cleansed through the word of God on a daily basis. John 15:3, Eph 5:26

To minister and to receive ministry.
This is where the gifts of the holy spirit comes in. if we stay at home, we may never receive this ministry. We may never experience the gifts and ministry of the Holy Spirit. Even the ministry of the Holy Spirit in our lives will be limited. Brethren, it is paramount for us to be in church all the time.

Notice all of them have something supernatural in them. Why? Because Christianity is about living a supernatural life. Going to church has a rippling effect in our lives. No matter how subliminal it appears


Excerpts from a message titled Christ in you part 2 by Pastor Chris Oyakhilime

Former Chief of Army Staff, General Ishaya Bamaiyi, today told an Ikeja High Court how a court registrar, Ms. Rosulu Idowu Oluronke, aided a serial fraudster, Fred Ajudua, in defrauding him of $330,000.

The money according to Bamaiyi was meant for a part payment for professional fees charged by Chief Afe Babalola (SAN) to handle his trail for attempted murder of the publisher of The Guardian, Alex Ibru and two others.

Testifying before the presiding judge, Justice Lateef Lawal-Akapo, Bamaiyi explained that he met Ajudua and Alumile Adedeji a.k.a. Ade Bendel at Kirikiri maximum prison, while being remanded there.

Led in-evidence by the prosecutor, Seidu Atteh, Bamaiyi further told the court that Rosulu (defendant), who was then Justice Oyewole’s registrar, visited him three times at Kirikiri maximum prison in respect of the payment for Chief Babalola’s professional fees.
“On November 23, 1999, I was in cell 5 (first floor) at Kirikiri maximum prison. Later Ajudua and Ade Bendel were brought in at the block. I and Ajudua were together in my cell, so we became friends. Ajudua told me that he is a lawyer and has studied my case, and found out it is purely a political one. Ajudua told me that he was interested in the case and has sent his wife to see the Lagos Chief Judge (CJ), Justice Ade Alabi (retired) and the state Attorney General (AG), Professor Yemi Osinbajo, over the matter. I was told that the CJ was the one in contact with Chief Babalola,” Bamaiyi stated.

According to the retired army general, Ajudua later told him that based on the advice of the CJ and AG, (Justice Alabi and Prof. Osinbajo) there was need for the case to be handled by Chief Babalola who would facilitate his release from prison custody.

He said: “I was told that Chief Babalola charged $18million as professional fees. I was then told that the money was to be paid through Justice Oyewole. Ajudua told me that Justice Oyewole was going to send his registrar (Rosulu).

“On October 23, 2004 (1st visit) the defendant, Rosulu, came with Ajudua at the prison and confirmed to me that she was sent by Justice Oyewole. She came with Ajudua to the visiting room, alongside a prison officer, ACP Abdullahi Garuba.

“On November 6, 2004 at 10am, (2nd visit) the defendant, Rosulu, came with Ajudua at the prison, alongside ACP Garuba. This time she came with her daughter whom she said was from the University. The defendant assured me that any money released through Justice Oyewole would get to Chief Babalola.

“Before the defendant’s 3rd visit on November 20, 2004, a friend of mine had arranged $330,000 for me. The money was brought in a ‘Ghana-Must-Go’ to the prison. I showed Ajudua the money and he said he will assign one Jonathan to accompany us in counting the money. The money was counted in the presence of the defendant (Rosulu) the prison officer (ACP Garuba).”
The retired army general (Bamaiyi) maintained that after counting the money, Rosulu carried the bag and Ajudua saw them off to the gate.
“That evening, Ajudua told me that the defendant (Rosulu) called and confirmed delivering the said money to Justice Oyewole and same had been taken to Chief Babalola. I have never met her again until December 19, 2013 at the Lagos office of the Economic and Financial Crimes Commission (EFCC). Not hearing from Chief Babalola after a while, then Ajudua had travelled to India, I suspected that something was wrong,”

He said he later reported the matter to the Economic and Financial Crimes Commission, EFCC and an investigation was conducted on the matter.

Under cross examination by the defendant’s lawyer, Bamidele Ogundele, Bamaiyi however noted that there was no receipt for the money which he gave to the registrar.

He also said that he did not see the registrar for seven years after the alleged fraud.
Further trail on the matter continues tomorrow.

How Indian Defrauded Nigerian Banks Of N32b, Court Told! - Crime

Bashir Abdullahi, a witness of the Economic and Financial Crimes Commission (EFCC) in the ongoing trial of Patrick Fernandez, an Indian businessman before a Federal High Court in Lagos, on Tuesday gave graphic details of how the accused defrauded some Nigerian banks to the tune of N32 billion.

Fernandez is standing trial alongside three of his companies on a 56 count-charge of fraud.

The witness, who is a former investigator with the EFCC, told the court that the commission learned of the fraud when one of the banks contacted the agency’s Financial Intelligence Unit.

According to him, in July 2008, he was assigned to investigate the case of suspicious financial activities involving Fernandez and his companies.

The affected banks, he said, were Zenith Bank, Afribank, Intercontinental Bank, Union Bank and Wema Bank. His investigations, he said, revealed high volume transactions from one account to another, which he said were suspected to be fraudulent.

Abdullahi said: “In our findings, we discovered that the accused was involved in cheque-kitting and round tripping. It is also known as Lazy Susan, a business model.”

Lazy Susan, he said, involves members of a business group transferring money from one sister company to another without selling any commodity, using money obtained from other banks.

He said as at September 2007, the accused had less than N2million in his account. “The volume of transaction was also minimal, starting with N20million. Within the same month, it rose to N600million. The volume of transaction also sky rocketed to billions of naira within just three months,” he said.

Abdullahi said the transactions involved the use of “suspended cheques” which did not go through the clearing house initially.

“If he brings a cheque, credit will be given to him immediately without going through clearance. Because he has a cheque discounting facility, if he brings N1billion cheque, they will give him N800million,” Abdullahi said.

He said Wema Bank, for instance, discovered that it allegedly lost N23billion to the activities of Fernandez and his companies.

On how the fraud was perpetrated, he said a high ranking staff of Wema Bank aided the fraudulent transactions.

The Wema Bank insider, the witness said, “was suppressing the cheque”, such that when other banks asked whether there is money in Fernandez’s account, the official would answer in the affirmative. “All the banks will ask Wema Bank staff, is there N5billion in his account, and he will say yes,” said the witness.

Abdullahi said the accused person claimed to be involved in oil and gas business which he said was “cash-intensive” and therefore needed to move money from one bank to the other.

He said the bubble burst when the banks, at the clearing house, discovered that “they were clearing the same cheque”.

Under cross examination by defence counsel, James Ocholi (SAN), Abdullahi said he did not know the banks’ account officers or branch managers who dealt with Fernandez.

He said the defendant’s companies were duly incorporated, and that his accounts were opened through “traditional” means.

He added Fernandez was considered high net-worth individual and so the banks took him for his words.

“If they had not taken him for his words, we won’t be talking about missing billions. The accused person stated that a point, he became the darling of the banks,” the witness said.

He said the investigation was triggered by a Suspicious Transaction Alert received from Afribank.

“They reduced the complaint to intelligence and forwarded to EFCC operatives for investigation. I don’t know if there was a petition,” Abdullahi said.

Justice John Tsoho adjourned till June 16 for continuation of trial

Keshi Signs Two-Year Extension As Nigeria Coach

Stephen Keshi on Tuesday agreed to a new two-year contract to coach Nigeria’s national men’s football team, ending months of uncertainty and speculation over his future. Some opposed extending Keshi’s tenure as the Super Eagles coach after they failed to qualify for the recent Africa Cup of Nations in Equatorial Guinea.
Talks on a renewal also stalled in February when Keshi described Nigeria’s extension offer as a “slave contract”. But the 53-year-old called for a fresh start on Tuesday at an official signing ceremony, saying any lingering bitterness needed to be put in the past.
“This is the time for us to come together to fight for this nation,” Keshi said, adding: “I am begging you all to please put the past behind and let’s start afresh.”
Nigeria Football Federation (NFF) technical committee chairman Felix Anyansi-Agwu also described Keshi’s second stint as coach as “a new beginning”.
“The entire (NFF) board has absolute confidence in the capacity of Stephen Keshi to take the Super Eagles to new heights,” he told reporters.
Keshi’s initial contract of three years ran out after last year’s World Cup in Brazil, where Nigeria reached the last 16 knockout stages. He had previously steered the side to a win at the 2013 African championships, raising his profile in Africa’s most populous nation after a string disappointments at the continent’s top tournament.
The NFF was engulfed in controversy last year, including over Keshi’s status and irregularities that marred a vote to choose the federation’s new leaders. FIFA was forced to step in, warning that Nigeria could be disqualified from international competition if the NFF failed to clean up its act

President Jonathan's Mistakes And How He Could Have Remained President

THE MISTAKES OF PRESIDENT JONATHAN

My name is Dumebi Ifeanyi and I am a political animal. This article is in no way meant to insult/derogate the personality of President Goodluck Ebele Jonathan. Its main motive is to show his mistakes and what he ought to have done.
I feel compelled to write this article in order for aspiring young politicians like myself to learn from the mistakes of one whose actions led to the near destruction of a great party which I dearly support. Many might be pleased, many might not, but affairs of state ought to be seen/stated for the way they are and not the way they ought to be. So let’s begin…..

His Nature

Any good, prudent leader knows that in order to thrive and grow in politics, he ought to know how to be Soft and Hard, Jonathan is a good man…an overly good man and in politics ‘soft/good men’ don’t go very far. He found himself in several situations where he was supposed to take the best possible action which might have been seen as morally ‘bad’.
You see, in politics and governance as a whole, you are required to be objective….certain circumstances require that you do that which might be viewed as morally ‘bad’, but in order for your government to stand, for your people to survive and for your position to remain, you must take these actions. There are situations whereby you do that which is viewed as morally ‘good’ and you will come to absolute ruin.

Image

How the people see their leader is also very important.GEJ did not manage his image well; he was viewed by the people as ‘weak’ because of his lack of charisma and confidence.

The Love of the people

Of all the mistakes that will be stated here, please pay very good attention to this one….NEVER EVER LOSE THE LOVE OF THE PEOPLE!! This is Paramount! Why? The power truly lies with the PEOPLE!
Jonathan came into power with the love of the people (the ‘I had no shoes’ story), everyone loved him but along the line, he made the people lose faith in him, especially after the Chibok girls issue.

Media/Chibok girls

The Media controls the minds of the people. President Jonathan made grave mistakes in managing the media’s representations of his actions. His leadership skills were already not to impressive and the media was not helping matters, even when he appeared to make a little improvement it still did not help as people had already grown fond of getting negative reports about him, so what should he have done? Two things I propose….
1. He should have befriended/enriched some top media house heads, gave them contracts…I mean…everyman has a price.
2. Anyone who refused to be his friend, he would have crushed…how? Influencing the revoking of broadcast licenses, strongarming…..(there a whole lot of ways to deal with them…contact me if you need more..:-)
You might say these are wicked and underhand but anyone who derives joy in destroying me before thousands of people, poisoning their minds and causing me psychological problems has no RIGHT to enjoy while I suffer! I would be foolish to have the means to deal with them and I don’t....:-)
On the chibok girls issue, the president’s lukewarmness caused his great misfortunes, had he immediately given a speech, a good one, a sympathetic one….even if he had no information yet…he would have just addressed the nation and told them that they were working on the matter/ investigating not releasing press statements through Abati….The people needed to know that they had a leader…If they had seen his face, heard his voice…it would have been much better. Had he mobilized the army earlier(or hired mercenaries), had he also given more speeches, speeches that all media houses, TV stations, radio stations would broadcast live(suspending all other programs), supported the Chibok girls campaign, heavily publicized appeals to the AU,UN..etc, these actions could have salvaged his already battered image.
He should also have invested heavily in social media at an early stage, he greatly underestimated it and thought it to be ‘’child’s play’’ but anything causing you great harm and loss of peace of mind is NOT ‘’child’s play’’.


Poor Advisers
A leader’s strength is measured by the advisers/men he has around him. He should have properly vetted those he chose for advisers and he should have weighed his political alliances. He also trusted the wrong people.

Biting the Finger that fed him

His biggest mistake till date is not keeping OBJ satisfied, biting the finger that fed him. You see, those who rise to power on the shoulders of others depend on the fortune and goodwill of him who has elevated them, Jonathan let his rift with OBJ thrive and that was a very, very grave mistake. You see, so far the Old military junta, so far the former military leaders live, Obasanjo is still as relevant as he was in the old days…..He should never have underestimated the power of the Iroko of Owu…he should never have!
In choosing enemies, make sure you know everything about your enemy….his alliances, his strengths. Obasanjo is a man who has ruled this country for a combined 11 years so he knows the inner workings of governance including its weaknesses. GEJ should have been wiser.


He was soft when he had to be firm

He could have salvaged a little of what’s left of his already battered image had he left the likes of Oduah, Abba Moro etc out to dry i.e given them up. He could have successfully built an image of a president who did not condone corruption had he done this, thus increasing the confidence the people had in him.

He associated with the STAINED

A leader should never be found associated with the STAINED, Those who have been publicly labeled as corrupt and evil. He associated himself with men who had been indicted, arrested and had one problem or the other with law enforcement thus giving the opposition media fodder and ‘staining’ himself in the process…come on…never play with ink if you have white clothes on.

Marginalizing the South west

Frankly speaking, He should never have marginalized the south-west…For God sake; they control the media and the Judiciary. I am being very realistic; He should have been friends with those with heavy political influence and should have kept them satisfied early enough. He should have sent more developments and foreign investments their way.

Poor Foundations

Apart from politics, when you build a house on poor foundations it will eventually collapse. GEJ had strong foundations in the SE and the SS but did not in the southwest and in the north, the whole Boko Haram/Chibok girls issue coupled with his Luke warmness destroyed the little he had built there.

In Conclusion, the president’s mistakes were numerous but if he had addressed the few stated above, he could have still been Nigeria’s leader today and I urge all aspiring politicians to draw lessons from his shortcomings than criticize him. Never forget…Politics is not for all, it is for a particular breed of human beings….wanna know if you have got what it takes?…..then Follow me on twitter @freegist_online

Fayose Reacts To Supreme Court Victory, Pleads With Opposition

Ekiti State Governor, Ayo Fayose has released a statement to celebrate his victory after the Supreme Court final judgement turned out in his favour.

The Governor in the statement appreciated the support he got from his people, saying that the final judgment today shows that the people are ‘unequivocal about their choices’.

DAILY POST recalls that a Supreme Court on Tuesday morning in a unanimous decision upheld the election of Mr. Ayodele Fayose as the Ekiti State Governor.

‎In the ruling by the seven-man panel led by Justice John Fabiyi, the Supreme Court upheld the earlier decisions of the Court of Appeal and the Ekiti State Governorship Election Tribunal, which had both ruled that the petition challenging Fayose’s victory lacked merit.

In the lead judgment delivered by Justice Sylvester Ngwuta, the apex court dismissed all the grounds of appeal filed by the petitioner – the All Progressives Congress – and resolved all four issues arising from the appeal against Fayose’s victory.

The governor in the statement also said that from the judgment, necessary lessons must have been learnt as ”it is obvious that Nigeria is evolving democratically.”

Below is the statement:

I want to sincerely appreciate Ekiti people for their resilience and love for me. I am formally dedicating this victory to God and to them. Having voted for me ten months ago, and confirming the victory by the subsequent elections in the last few weeks, they have shown that they are unequivocal about their choice and their determination to protect and defend that mandate.

I cannot but appreciate the Apex Court for protecting democracy and also for living to the expectation of the Chief Justice of Nigeria, Hon. Justice Mahmud Mohammed, who had assured that under his leadership, the judiciary would not subscribe to any plot to change the outcome of elections through the instrumentality of the Court.

I think the necessary lessons must have been learnt and it is obvious that Nigeria is evolving democratically. To my opponents, I plead with you to sheath your sword and join me in the development of Ekiti State. If truly our struggle is about service to our dear State, it is time to come together and channel all our resources towards the development of the State.

I am irrevocably committed to the protection of all, including the opposition in the State. Nobody is infallible, and I am not a perfect being. The only one that is perfect is God, but He, in His infinite mercies has made me the Governor of Ekiti State today. I have a term and tenure; there will be another opportunity for Ekiti people to decide who governs them.

Rather than trouble the peace of the State, our friends in the opposition parties should accept the will of God concerning our dear State and wait till 2018. I thank all stakeholders and I am assuring them that I will leave Ekiti State better than I met it. My special appreciation also goes to the security agencies for being alive to their responsibilities.


May the Almighty God continue to bless Ekiti State.
Ayodele Fayose
Governor, Ekiti State

Oyo: Folarin, PDP Candidate Removes Transformer Donated To Community

It was a shock find for the Sabo community in Ibadan, Oyo State capital in the early hours of Sunday as they woke up in the morning only to see a Transformer donated to the community few days ago by the Peoples Democratic Party (PDP) governorship candidate, Senator Teslim Folarin, being carted away by some aides of the former Senate Leader.

The PDP governorship candidate who came fourth in the Oyo State Gubernatorial election had reportedly conceded defeat on Saturday night apparently having seen the signals that the incoming polls result did not favour him.

However, the alarm raised by members of the Sabo community on sighting those removing the Transformer in the early hours of Sunday did not move the perpetrators who eventually removed the transformer to an unknown place.

Members of the Sabo community instantly stormed the palace of the Sarkin Hausawa, Alhaji Ahmed Dahiru Zungeru where they expressed their worry, a development which compelled the Sarki to wade into the matter by calling on Folarin’s political associate within the community, Alhaji Bashiru Maiborno, for clarification.

Daily Trust gathered that it was at this stage that Baiborno spiritedly made moves to effect the return of the transformer to Sabo community, but he was rebuffed as the Sabo community vowed not to take back the transformer from Senator Folarin.

Efforts by our correspondent to get Senator Folarin’s personal reaction on the development was futile as he could not be reached.

Maiborno however insisted that the transformer was removed with a view to keeping it in a safer place. “Senator Folarin is a man of his words,” Maiborno told inquisitive journalists.

Banks lobbied over preference share billions

Johannesburg - A South African money manager is leading a drive to form blocks of investors holding preference shares in the country’s biggest banks to persuade the lenders to redeem the securities at the highest-possible prices.
About R22bn of the shares were issued a decade ago by banks including Standard Bank Group, Africa’s largest lender by assets, and FirstRand mostly to expand share ownership in the country.
Grouping the shareholders into voting pools will strengthen their bargaining power, said Greg Saffy, head of Johannesburg-based Cast Iron Capital, which has partnered with Exchange Sponsors in the programme.
A change in capital rules is prompting the banks to review the status of the preference shares, which typically have priority in the payment of dividends. The stocks, issued by the banks between 2004 and 2006, are known as non-cumulative, non- redeemable perpetual preference shares.
Under Basel III regulations, they are no longer defined as core Tier-1 capital. As lenders try to boost their capital levels to meet the new benchmarks, they can buy back and cancel the shares or swap them for new instruments.
“Banks may have to do buybacks or replacements, but we’re going to lobby the banks for those shares,” Saffy said in an interview. By setting up the voting pool, Cast Iron Capital and Exchange Sponsors, an investment adviser, will form a market place where the shares can be traded, with the two firms earning performance fees for transactions, he said.
Framework Needed
While FirstRand is waiting for the central bank to publish a final framework before discussing its stance on the preference shares, according to spokesperson Sam Moss, Nedbank Group “will in principle offer a fair alternative,” executive Mike Davis said.
“At this stage in our capital planning we are considering various options as part of our current and ongoing capital plans,” Davis said. Options include a buyback, or swapping into either a new pre or post-tax instrument.
Investec, Standard Bank and Barclays Africa Group weren’t immediately able to comment on the shares.
The South African Reserve Bank has been issuing capital framework guidelines for the lenders so as to ensure their compliance with Basel III rules.
Investors are able to start organising themselves into the voting groups on Monday, by visiting a website that Saffy and Exchange Sponsors have set up, or by calling the firms.
Six preference-share instruments from lenders including Investec, Nedbank and Barclays Africa are being targeted. Pooling the investors will enable them to negotiate with the banks for a cash payout at “an acceptable level,” Saffy said on the website.
“We’ve canvassed some of the institutional investors and there is keen interest and support for our initiative,” Saffy said. “We are in the process of collecting the votes from all holders and custodians of the instruments.”

3 Ways to Build the Network That Will Change Your Future

A mentor of mine once told me, “The life you have, the friends you can count on, the books you read, and even the restaurants you eat in, will come down to the five people you spend time with this weekend. Choose them wisely, because their recommendations and ideas influence you more than you can imagine.” I’ve heeded that advice for the past 18 years, and I’ve learned three things:

1. First impressions matter.

More than “what you do,” people will walk away talking about “who you are.” The next time you work on how you introduce yourself, consider writing it from their perspective. Write out a few lines (no more than a paragraph) that you’d want someone to remember after their first conversation with you. Practice it five to 10 times, and then edit it for the next five to 10 people you meet.
Related: A New Study Reveals the Power of First Impressions Online

2. Follow up immediately.

After that initial “exchange of energy” from meeting someone, you have an opportunity to drop back into their life sometime later that week. Depending on what you spoke about, and especially if you promised to get them something, follow up with something specific to the conversation. Also, consider sending something that reinforces the first impression you hoped to make. If they’re going to be someone who might influence you over the next five years, you’ll want them to know a little more about you.
Related: How to Be Remarkable at Following Up

3. Give more, sooner.

The best time to build a network is when you have something to give. Reflect on your body of knowledge, your life experiences and your own personal and professional interests. This month, offer to host a Q&A session for your local Rotary. Offer to write, publish and print a “mini-manifesto” about success for the high school you graduated from. Offer to present your “My Toughest Life Lesson and What I Learned” for a local entrepreneurs’ club.
Make it a priority to meet the next person who will influence your future in positive ways. Just think: if you only met one new person each quarter, within two years you could have a life that’s not only different from the one you’re experiencing today, you could be richer because of it. Rich in experience, in contribution, in health … and in your business ventures.

Letter To All Fresh Graduates and Job seekers

Dear Applicant: Thank you for your letter inquiring about positions in our economics department. At this time, we have no openings. However, I will keep your letter on file should an appropriate job become available.

At least, that’s what I am required to tell you. But here’s what I’d really like to say to you – and to every recent economics graduate who sends me the same letter.

First, I know it’s lousy for bachelor of arts grads looking for a job “in their field.” Twenty years ago, it was lousy for me too. It’s almost always lousy. In a way, it’s kind of supposed to be – a small rite of passage to welcome you into the working world. It’s sort of like being froshed.

But if I may, I would like to offer some advice.

Don’t be too fixated on landing a job “in your field.” The truth is, you don’t yet have a field. In university, you majored in economics, but that may or may not be your eventual field of professional work. The world is full of possibilities; limiting your search to an economist job is a terribly narrow way to start out.

You chose to study economics, which doesn’t necessarily imply that you’ll be an economist. Rather, it implies you have an aptitude for problem solving. You’re probably good at analyzing data. You can see different sides of an argument. And I’ll bet you’re excellent at finding solutions to problems. These are essential skills required in hundreds of rewarding (and lucrative) fields of professional employment.

Your ultimate field may actually be in sales for a biotech firm. It may be analyzing crime statistics for the city police. It may even be a rock star (just ask Mick Jagger). The world is full of “fields.”

What you’re facing is a common problem: BA graduates confuse their major area of study with what they expect to be their eventual careers. It doesn’t matter if it’s a degree in history, film studies, sociology, or comparative feminist literature.

You’ve successfully navigated your way through a four-year degree. Congratulations! That is no small accomplishment. But now you’re embarking on a totally different program of learning – one that will last the rest of your life. It’s called “What am I here for?”

That may sound all spiritual and existential, but don’t let it throw you off. It just means that your challenge from here on is to find what you’re good at, and keep getting better and better at it.

An apology, by the way, on behalf of society. We are sorry if we led you to believe that attending university would land you a good job. That’s not actually true. A polytechnic college will do this – and the job opportunities available right now are fantastic. A good option for you might be to continue post-university studies at a polytechnic.

But your university education, at least at the bachelor of arts level, was never intended to land you a job. It was intended to make you a more complete thinker. It was intended to teach you how to absorb complex information and make reasoned arguments. It was, quite simply, intended to teach you how to learn. Those are skills that you’ll use in any field of work.

Open your mind to all sorts of job possibilities. Don’t be too proud to start out in the service industry, or where you might get your fingernails dirty. Talk to as many people as you can about their career paths. Go live overseas for a year or two. But never, ever, allow yourself to think you’ve wasted your time in university if you don’t land a job as an economist.

Meanwhile, be encouraged and stay positive. And yes, I will keep your letter on file. But my guess is that when a position in my economics group eventually opens up, you’ll no longer be available.