Tag: alliance

  • Stallion Home, Mutual Alliance in merger talks

    Stallion Home savings & Loan Limited and Mutual Alliance Savings & loans Limited have started merger talks to beat the recapitalisation deadline of the Central Bank of Nigeria (CBN).

    In a statement, the two mortgage banks said they recently signed a Memorandum of Understanding (MoU) on the proposed business combinations that would result into a mega national mortgage bank.

    It said to actualise the proposal, a four-member steering committee, two each from both Primary Mortgage Banks (PMBs), have been inaugurated and saddled with putting together necessary documentations as prescribed by the recapitalisation guidelines for submission to the CBN for approval.

    The committee is expected to conclude its assignment and submit the report by September 30, 2013.

    Managing Director/Chief Executive Officer, Stallion Home Savings and Loan Limited, Johnson Akhidenor, said the emerging entity will be a mega national mortgage bank with over N5 billion capital base.

    Director of Mutual Alliance Savings & Loans Limited, James Taylor, said that the merger will strengthen both firms to enable them address the housing needs of Nigerians.

     

  • Alliance leaders:

    Alliance leaders:

    Buhari

    The former military Head of State is critical to the success of the alliance. Eyes are on him. Many Nigerians perceive him as a man of integrity, incorruptible, forthright and modest. His strength lies, not in any financial muscle, but his vision for the country and antecedent as a disciplined leader who has not soiled his reputation in public life. Buhari is the founder and leader of the Congress for Progressive Change (CPC), which has produced a governor and some federal and state legislatures. He is a popular presidential material in the North.

    Tinubu

    Former Lagos State Governor Bola Tinubu is the National Leader of the Action Congress of Nigeria (ACN). He is a political wizard and master strategist. Under his leadership, the states under his party’s control, rose from one to six. It has also made in-roads into other geo-political zones. Today, the ACN has become the official opposition party in the National Assembly. The Minority Leader of the Senate, Senator George Akume, former governor of Benue State, is from ACN. It can be said that the entire Southwest, of which Tinubu is the indisputable political leader, is rooting for the merger.

    Onu

    The All Nigeria Peoples Party (ANPP) National Chairman and former Abia State governor, Chief Ogbonaya Onu, is a man of honour, credibility and integrity. He is perceived as a consistent politician, who will never back out in the face of difficulties.

    Momoh

    The Prince of Auchi Kingdom, Tony Momoh, is the national chairman of the CPC. A journalist and lawyer, he is a former Information Minister. He is devoted to value and principle.

    Akande

    The ACN National Chairman belongs to the old order. For his long sojourn in politics, he has experience and good name as compensation. As governor of Osun State, he presided over a prudent administration. It is evident that, with the likes of Akande and his colleagues on board, the envisaged platform will adopt the evergreen progressive cardinal manifestos.

  • PDP and Fayose’s unholy alliance

    PDP and Fayose’s unholy alliance

    What kind of human being returns to his or her own vomit? Because even a dog does not… But, obviously, some people, for whatever reasons seem to be comfortable around puke, whether it is theirs or that of others. I’m pointedly referring to how the elite Nigerian political class as personified by the Peoples Democratic Party (PDP). As it is, the party continually gains notoriety for infamous acts of some of its high profile members across the length and breadth of the country. And this trend does seem to abating anytime soon.

    The latest is the re-arraigning of one of its recently re-admitted members, former governor of Ekiti State, Ayo Fayose, for embezzlement of N1.2billion while in office, at the Federal High Court, Ado-Ekiti. Even on that occasion, the high-handedness exhibited by security cohorts of the former governor spoke volumes of the brigandage associated with the PDP. At the court premises, it was reported that ‘loyal’ policemen to Fayose initially barred journalists from covering the court proceedings. It took the intervention of the state’s police public relations officer before journalists were allowed access. Now, that sends dangerous signals.

    Yet, the same Fayose still aspires to hold public office. In saner societies, such ambitions would be a no-go after being arraigned on a 27 count charge bordering on mis-appriopriation of state funds. I find it also sad that Fayose is resorting to cheap legalese to buy time and perhaps a further lease of life for himself. Owoseni Ajayi, counsel representing Fayose had reportedly tried to stall the former governor’s re-arraignment. In a bid to frustrate the proceedings, Ajayi had sought to dismiss the EFCC’s counsel, Adebisi Adeniyi, saying it was only Rotimi Jacobs that had fiat to prosecute the case. It was a relief that Justice Adamu Hobon ruled in Adeniyi’s favour.

    Fayose definitely lacks the stuff good leaders are made of. But, this is just my take.

    It must be recalled that Fayose was first arraigned for the offence in Lagos in 2007 while he was still governor. The biggest challenge lawyers of the former governor could offer then came in the form of ‘lack of jurisdiction’ as it was pointed out that the offence was not committed in Lagos. Hence, it was back to Ekiti State. Well-known for his frolicking lifestyle, around Fayose, there was never a lack of the best comforts life offered. He explored them and it seemed that to him, cost was no restrain. As governor, there were various ways to pay for such a flamboyant lifestyle as long as Ekiti State coffer was still liquid. And seemingly, for his profligacy, he found ways to explore the state’s till.

    I have often wondered why associations continue to adopt certain individuals despite allegations of treasury looting, stealing, and subsequent public disgrace labelled on such individuals. The PDP would do good to begin to renounce some of such individuals; rather it seems to make a penchant of rubber-stamping them.

    Bode George, after being ferried off to prison was given a hero’s welcome by the party. Also, former chairman of the PDP Board of trustees, and former minister of works, Tony Annenih was recently asked by the House of Representatives concerning how N2.3bn that was awarded for road contract in 2001. These are examples of the sort of individuals sensible political parties should sever alliance with. Why does the PDP continue to swell its folds with characters like Fayose? Perhaps, the major reason why this severance may not be possible may be because birds of a feather flock together.

    While in law, a suspect is presumed innocent until proven guilty beyond any reasonable doubt. In the eyes of the public, it is a different game. In the public glare, a suspect is presumed guilty should any accusation be levelled against him or her. And responsible politicians do the honourable thing of hiding their face in shame. In some climes, Fayose would have been ashamed for rubbishing the party’s name by such accusation of theft. But, sadly, this is Nigeria and the party concerned is the PDP, widely acclaimed as Africa’s biggest political party by its members.

    However, with so much recklessness, the people of Fayose’s party plundered state funds, and like smart ‘crooks’ which most of them are, they covered their tracks. But, one can only cover his or her tracks well for so long. There comes a time when a wrong step is taken and a wide opening comes up. That crack for Fayose came with the allegation of theft in 2007. As it is now, the law machinery is grinding for Fayose who has another set date in court for January 24th 2013. I wish him well. And he had better be prepared to face judgment.

    Lastly, while I do not speak for the entire Ekiti indigenes, I believe I can stick out my neck, that apart from the few crooks and PDP apologists in the state, the people are tired of the brigandage which the state was hitherto held by both Fayose and the PDP cabal. And for this, Fayose must not count on support from Ekiti people. Already, 31 witnesses are ready to testify against him. Interpreted in another way, Ekiti people no longer want to tolerate non-performers like him. Fayose may not know now but being accused of theft has proved he is a good example of a bad leader in the public square already.

    • Akinbayo writes from Ado-Ekiti

  • ‘Mimiko, police, judiciary in unholy alliance against opposition’

    ‘Mimiko, police, judiciary in unholy alliance against opposition’

    The Akeredolu Campaign Organisation (ACO) has described as alarming, the rate at which the security agents and the judiciary are working to arrest and imprison members of the Action Congress of Nigeria (ACN).

    Mr. Idowu Ajanaku, the Director of Media, Publicity and Strategy of the ACO, said many ACN members have been arrested on flimsy charges, which in most cases are masterminded by the Labour Party(LP).

    He said: “The latest of such is the arrest and remand of Olusola Adenodi in prison by Magistrate J.O. Kpemi of the Okitipupa Magistrate’s Court till October 28, despite that the charge is bailable. Also arrested and remanded by the magistrate are our members at Paraga Ward, Odigbo Local Government, Ikoya, Ilutitun, among others.

    “LP has concluded plans with the security agents to invade Ikale, Oshoro and Okitipupa to arrest our members because of the rising popularity of Dr. Paul Akintelure, Rotimi Akeredolu’s running mate, who is from the area.

    “We urge the security agents to desist from colluding with the LP. The judiciary, which should be the last hope of the common man, should not be used to settle political scores. It is instructive to note that the late General Sani Abacha could not cow Ondo people.

    “Mimiko and his co-travellers should learn from history. They should remember that the Ondo people are averse to oppression. It does not matter the amount of intimidation by the Labour Party, the people will rise against it and vote for a change that Akeredolu represents.

    “If Mimiko’s claim that he is popular is true, why is he using satanic devices against the opposition? It is his thugs that are attacking the opposition. It is his supporters who were caught with thumb-printed ballot boxes. It is his royal father-associates who are being caught with arms and ammunition. He is the one harbouring thugs in government-owned hotels with taxpayers’ money. Mimiko is desperate for re-election, but no amount of desperation will hoodwink Ondo people to change their mind. They will vote him out on October 20.”