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Tag: Okorodudu

  • I wish we had GOtv Boxing Night in my days – Okorodudu

    I wish we had GOtv Boxing Night in my days – Okorodudu

    Former Olympian, Jerry  Okorodudu, has expressed regret that an initiative like the GOtv Boxing Night was  not available in his days as an active boxer.

    Okorodudu, who participated at the 1984 Olympics, said this during a press conference held in Lagos to announce the second edition of the GOtv Boxing Night, a six fight professional competition, slated for  March 15 at the Indoor Sports Hall of the National Stadium in Lagos.

    In his message to the 12 boxers billed to fight at the GOtv Boxing Night, Okorodudu advised that they should take the competition seriously by training well and conducting themselves properly to encourage GOtv, headline sponsors of the competition, to continue their sponsorship of the event .

    “Boxers need to take GOtv Boxing Night seriously.GOtv is spending enormous sums to bring the glory days of boxing back.

    ” The least you can do is to keep encouraging them to keep on sponsoring the competition. If you do this, other sponsors will come and join GOtv and boxing will be back on its feet,”  he said.

    Okorodudu, currently a national boxing coach, added that he regrets that a similar initiative did not exist in his active days. “If we had an opportunity like the one GOtv is currently offering boxers, we would have done considerably better, probably become world champions in my days.

    “Nigeria has always had  boxing talents, but there was little or no encouragement to make us realise our potential,” he added.

    GOtv Boxing, conceived to revive the flagging fortunes of boxing, debuted last November. Aside from GOtv, it is sponsored by Custodian Life Assurance Limited, MultiChoice, SuperSport, KSquare Security, Paragonis Multimedia Limited and supported by Complete Sports, PM News and Newsbreak.ng.

    The second edition, as with the maiden one, will feature fights in different weight categories.   In  the biggest fights on the night, Waidi “Skoro” Usman, who emerged National Featherweight champion at the maiden edition of the GOtv Boxing Night, will take on Ghana’s Alfred “Ahwor” Qauye in a 12-round West African title bout.

    Another eye-catching bout will be between Adewale “Tiger” Abbey, National Heavyweight champion, who will defend his title against Tope “Young” Ogunshinusi over 12 rounds.

    Fights on the cards also include the 10-round National Light Middleweight elimination fight between Jamiu Animashaun and Wahab “Hammer” Adebisi; as well as the National Light Welterweight elimination contest between Waliu Arogundade and Olaide “Fijaborn” Fijabi.

    Other fights are the Light Middleweight challenge between Sunday “Capo” Olalekan and Tombraye “Tornado” Christmas as well the Lightweight challenge between Otto “Joe Boy” Joseph and Kehinde Badmus.

     

  • Alleged N82.8m theft: AGF takes over prosecution of Okorodudu

    Alleged N82.8m theft: AGF takes over prosecution of Okorodudu

    A Lagos High Court, Ikeja, yesterday heard that the Attorney-General of the Federation (AGF) has directed the Economic and Financial Crimes Commission (EFCC) to hands off the prosecution of Cross Country Transport Limited chief, Bube Okorodudu.

    The frontline transporter is on trial before Justice Lateef Lawal-Akapo, with his firms, Cross Country and Car Link Limited, for allegedly stealing N82.8 million by fraudulently selling 17 units of Volkswagen transporter buses belonging to AG Moeller Limited and Adeloye Olukemi.

    At the resumed hearing yesterday, a lawyer from the office of the AGF, D. E. Kaswe, told the court that the AGF took over the matter from the EFCC on September 8, while the court was on vacation.

    The lawyer added that the case was taken over because of a sister criminal case before a Federal High Court in Lagos.

    Praying the court for an adjournment to enable the AGF’s office collect the original file it requested from the EFCC, Kaswe said it would enable them examine the files and reach a conclusion.

    But defence counsel Taiwo Taiwo said Okorodudu voluntarily turned himself in to the police, as directed by the court on July 1.

    He said: “The first defendant (Okorodudu) was in their (EFCC) custody and came to court on July 14. But the court could not sit due to the strike by Judiciary workers.

    “He was thereafter granted administrative bail by the police. The reason he is not here today is because I was not aware that the matter would come up today.”

    After hearing the submissions of both counsel, Justice Lawal-Akapo averred that the practice directive by the National Judicial Council (NJC) was that judges should give priority to high profile criminal cases.

    He said:”I am not in any way impressed by the explanation given by the prosecution counsel that the AGF Office is still trying to take over the original case file from the EFCC since September 8.

  • Okorodudu declares ambition

    Okorodudu declares ambition

    An aspirant, Air Vice Marshal Omatsola Terry Okorodudu (rtd), has assured the people of Delta South Senatorial District of development and transformation, if elected.

    Okorodudu spoke when he visited the Olu of Warri, Ogiame Atuwatse II, to intimate him of his senatorial ambition.

    He said he will contest the seat on the platform of the Peoples Democratic Party (PDP).

    “My intention is to better the lives of everyone in Delta South Senatorial district through quality and responsive representation at the Senate,” the aspirant said.

  • Cross Country boss, Okorodudu asks court to quash N82.8m theft charge

    The Managing Director of Cross Country Limited, Mr Bube Okorodudu has asked the Lagos High Court sitting in Ikeja to quash the N82.8 million theft charge preferred against him by the Economic and Financial Crimes Commission (EFCC).

    He made the request in a preliminary notice of objection by his counsel, Chief Robert Clarke (SAN), before the court presided over by Justice Lateef Lawal-Akapo.

    The EFCC had charged Okorodudu and his company, to court with another company, Car Link Limited.

    They are facing an eight-count charge bordering on conspiracy, stealing, forgery and uttering.

    The EFCC alleged that the defendants stole the money through the fraudulent sale of 17 units of Volkswagen transporter buses belonging to AG Moeller Limited and Mr Adeloye Olukemi; allegation which Okorodudu denied.

    At the resumed hearing last week, Clarke told the court that  the defence had filed an application challenging the competence of the charge and the jurisdiction of the court to hear and determine the matter.

    He submitted that the EFCC had no power to prosecute criminal cases under a state high court, adding that all the 400 cases filed by the EFCC before the Lagos State High Court should be struck out.

    Counsel to Car Link Limited, Chief Ladi Rotimi William (SAN),  described the charges as absurd since the defendants had already made payments for the buses.

    “The proof of evidence does not disclose a prima facie case against the defendants requiring them to stand trial,” Williams said.

    According to him, the disagreement between the defendants and the complainants was purely a civil matter, which was already before the Federal High Court in Lagos.

    But counsel to the EFCC, Mr Aliu Adebayo told the court that the EFCC needed more time to respond to the application.

    Adebayo asked the court for an adjournment to enable the EFCC gather some vital documents, which would be attached to its application.

    The judge, however, expressed dissatisfaction with the conduct of the EFCC.

    Justice Lawal-Akapo said Adebayo’s excuse for an adjournment was flimsy and unpalatable.

    He, however, adjourned the matter till March 3, 2014  for hearing of arguments on the applications.

     

  • NEXIM’s three years scorecard

    NEXIM’s three years scorecard

    Three years in the saddle as the Managing Director/Chief Executive of the Nigerian Export Import Bank, NEXIM, analysts hold the view and very strongly too that the Robert Orya-led management team has helped to turn around the fortunes of the once moribund bank, reports Ibrahim Apekhade Yusuf

    ERASTUS Okorodudu works as a farm supervisor at the a rubber plantation in Ughelli, Delta, which he joined fresh from the university after several attempts to secure a job at different multinationals oil companies yielded no positive results

    But four years down the line, he has not looked back.

    Like most of his contemporaries working in oil companies, today, Okorodudu is also living the good life and can easily afford any luxury money can buy, all thanks to the lifeline his employers secured from NEXIM in 2010, which literally opened floodgates of opportunities, including exposure to emerging markets, to mention but a few.

    The foregoing anecdote, if you may, is one of many testimonies which many of the beneficiaries of NEXIM’s export grant have been reeling out at any given opportunity.

    One of such foras was the interface and discussion sessions with prospective investors facilitated by NEXIM in Lagos late last year.

    For an organisation which suffered an eclipse as a result of its run of misfortunes some years ago, the sudden change of fortune coupled with its impressive fundamentals within a space of three years, analysts argue, speaks to the competence and ability of its current management team led by Robert Orya.

    NEXIM’s dark days

    Investigation revealed that the state of affairs of the bank at the time of the assumption of duty of the new executive management in August 2009 was such that the financial and operational performance of the bank had deteriorated to an alarming level, in addition to a myriad of other problems, chief among which was alarming decline in the quality of risk assets as the bank’s total loan portfolio as at 20th August 2009 was N14.6 billion with over 72% being non performing, N10.03 billion or 69.05 classified as completely lost; resulting in decline in the bank’s income, thus leaving the bank with a debt overhang of N32.74 billion coupled with depletion of the bank’s shareholders funds as a result of accumulated losses to mention but a few.

    Mandate to Robert Orya-led management

    Given the parlous state of the bank, the focus of the Robert Orya-led executive management team was to help turn around the fortunes of the bank as well as ensure that NEXIM is able to contribute significantly to the economic development of Nigeria.

    Thus with the Board of Directors under the dynamic leadership of Dr. Kingsley C. Moghalu, Deputy Governor Financial System Stability Central Bank of Nigeria [CBN], in 2010 approved the strategic repositioning of the bank to effectively deliver on its statutory mandate and become an effective enabler of Nigeria’ economic transformation.

    Accordingly, the management undertook a corporate transformation exercise centred on the key perspectives of strategy, risk management and corporate governance, financial performance, operations, organisation and people, with assistance from KPMG Professional Services.

    Expectedly, this corporate transformation project tagged: “Project Spring” led to the re-definition of the bank’s mission, vision and strategic objectives, with the intention of channelling its resources into the development of four sectors namely: manufacturing, agro- processing, solid minerals and services, which have high amount of employment and foreign exchange earning potentials in the non-oil sector for the economy.

    Performance scorecard

    In three years, the management team has been able to transform the bank, thus delivering on its mandate through a robust strategy, efficient operations and highly skilled and motivated personnel.

    There have been fresh capital injection from the shareholders as well as other institutional support through supervisory and regulatory oversight and guidance from the CBN and Federal Ministry of Finance, thus it has increased the bank’s capacity to support the growth of the non-oil exports and complement the export credit support of the commercial banks.

    Besides, the bank has supported Nigerian exporters especially the small and medium enterprises (SME’s) with some engaged in Greenfield projects, to the tune of N23.33billion and issued guarantees valued at $27.3million between 2009 and August 2012.

    The bank through its various operational interventions generated/sustained direct jobs of over 14,358 as at August 31, 2012 even as it has helped to facilitate the generation of estimated foreign exchange earnings of US$189.20 million to date.

    From a debt overhang running into billions of naira as at August 2009, the bank has been able to achieve a cumulative loan recovery of N1.3billion so far with a promise of better days ahead.

    The bank has also supported the entertainment industry with over N700 million and N536 million disbursed amounts to six beneficiary clients

    In furtherance of the bank’s support for the arts, it engaged in strategic partnerships/sponsorship supports of some creative and entertainment industry events for marketing, advocacy and capacity building programmes, which were intended to create awareness, build capacities, facilitate monetization of intellectual property/proprietary assets as well as showcase Nigerian talents. These events/programmes include among others the following: the Zuma Film Festival, the 10th Nigerian Video Music Awards, 9th African Film & TV Programme EXPO, Nigerian Booth at the Cannes International Film Festival 2012, African International Film Festival, 1st National Policy Dialogue on the Development of the creative/entertainment industries in Nigeria, to mention but a few.

    Apart from making inroads in the nation’s fledging entertainment sector with the disbursement of the $200million loan, the bank has facilitated the establishment of the regional sealink project, which has the propensity to save Nigeria about N800 billion ($5 billion) annually.

    According to the NEXIM boss, the project, which is being sponsored by the Federation of West African Chambers of Commerce and Industry, FEWACCI and endorsed by both the ECOWAS Commission and the Maritime Organisation of West and Central Africa, MOWCA, will also help facilitate the realisation of the various maritime-related laws like the Cabotage and MIMASA Acts and the implementation of the National Shipping Policy.

    While the jury may still be out on what should be the proper measure of success or otherwise of an organisation of NEXIM’s status, expert opinions seem to be in its favour, which is salutary enough.

    But will NEXIM get rather complacent and be carried away by its momentary success? Time, will tell.