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Trending: Obasanjo is a national nuisance- Abdullahi Adamu

Image result for Abdullahi AdamuIt is really getting hotter due to the negative comment former President Olusegun Obasanjo made about Buhari administration.

It has been revealed that for advising President Muhammadu Buhari not to seek reelection and initiating the Coalition for Nigeria Movement (CNM), former President Olusegun Obasanjo came under attack yesterday.

Nobel laureate Wole Soyinka dismissed the CNM, saying he would need to have his head examined should he identify with the Obasanjo-inspired group.

Former Nasarawa State Governor Abdullahi Adamu warned the ex-President that he might soon become a national nuisance, with the way he had refused to allow his predecessors run the country.

Sen. Abdullahi Adamu said Obasanjo cannot dictate to Nigerians who to vote in 2019.

He also described Obasanjo’s CNM as a red herring which cannot influence the outcome of the next election, adding that the former president’s statement was in bad taste.

According to him, Obasanjo ought to have been put on trial for corruption.

Prof. Soyinka spoke in an interview with BBC Yoruba. Adamu spoke at a news conference in Abuja.

Soyinka said: “Me? Obasanjo would establish a group and I will become a member of such group? That means they should get a psychiatrist to examine me.”


How Mercy Johnson husband suspend her to play role in movies

It has been revealed by star actress, Mercy Johnson-Okojie that her husband has stopped her to play nasty and romantic roles in movies again.

The Nollywood actress  said this in a new interview that she has stopped accepting romantic roles because her husband does not like it.

“Regardless of the money being offered, i cannot accept the romantics roles anymore because my husband doesn’t like it”, she said.

Moses wins NFF player of the year award

Image result for Victor MosesDespite loosing CAF and BBC African Player of the year to Mo Sallah of Egypt, Chelsea wing-back Victor Moses in Lagos on Monday emerged as  the maiden Aiteo/NFF Awards Player of the Year winner.

Nigeria  star won the crown ahead of his Super Eagles’ teammate Wilfred Ndidi and  Lobi  Stars forward Anthony Okpotu.

 Reigning African Women’s Player of the Year Asisat Oshoala won the women’s version.

Enyimba left-back Ikouwem Udoh beat Nura Mohammed and Stephen Odey to the Young Player of the Year for men and Falconets striker Rasheedat Ajibade beat Anam Imo and Gift Monday to win the Young Player of the Year for women.

Former Falcons star Ann Chiejine won the Women’s Coach of the Year beating Edwin Okon and Whyte Ogbonna,  while Plateau United coach Kennedy Boboye won the Men’s Coach of the Year award  ahead of Abdu Maikaba of Akwa United and MFM’s Fidelis Ilechukwu.

MFM’s Sikiru Olatunbosun won the Goal of the Year while Remo Stars won the Fair Play award. The Development award was given to Channels Sports for their contribution to the development of the game at the grassroots. The Platinum award was presented  to  FIFA President Gianni Infantino.

The Nigerian Legends 11 is  made up of Chiejine, Felix Owolabi, Austin Eguavoen, Christian Chukwu, Uche Okechukwu, Nwankwo Kanu, Austin Okocha, Segun Odegbami, Adokiye Amiesimaka, Thompson Usiyen and Mercy Akide-Udoh.

Trending: Why K-Brule and Khloe disqualified from BBN

Image result for K-Brule and KhloeBig Brother Naija disqualified the pair of K-Brule and Khloe from the on-going Big Brother Naija house.

The pair were issued a strike following their disagreement last night. K-Brule during an argument tried to attack Dee One but was held back by Angel and Lolu . Big Brother found this unacceptable and issued him a strike making it three strikes.

Khloe was disqualified for comments she made to Kbrule, calling his mother a hoe. Kbrule and Khloe already had two strikes and today’s own made it three strikes.

This amounted to an automatic disqualification and social media is having a field day with jokes and memes from the lesson.


Real Madrid wake up,defeat Real Betis In LaLiga Thriller

Image result for real madrid vs real betisIt was good night for Real Madrid that survived a scare, coming from a 2-1 half time deficit to beat Real Betis 5-3 in Sunday’s thrilling La Liga Santander clash that produced eight yellow cards.

Real Madrid’s win comes days after the Los Blancos defeated Paris Saint-Germain 3-1 in the first leg of the round of 16 in the UEFA Champions League.
Marco Asensio gave visitors Real Madrid the lead in the 11th minute but Aissa Mandi restored parity for the hosts with a lovely header 22 minutes later.
An own goal from Nacho Fernandez eight minutes from half time gave Real Betis a deserved lead into the break.
At the restart, Real Madrid took the initiative starving Betis of possession and five minutes later, captain Sergio Ramos made it 2-2 with a thumping header from a Lucas Vazquez corner.
The goal was Ramos’ second this season for Real Madrid.
Asensio made it 3-2 with a cool finish. The goal was the 6000th Madrid strike in LaLiga. Real Madrid are the first side in the league’s history to reach that tally.
Cristiano Ronaldo put the game beyond reach for the hosts, scoring Real’s fourth before Sergio Leon scored a late goal for Betis to make it 4-3.
Substitute Karim Benzema’s made it 5-3 for Zinedine Zidane’s side.
The victory lifted Madrid to fourth place, one point adrift of Valencia, with a game in hand while Betis stay in ninth place.
Real Madrid travel to face Leganes in their next game on Wednesday.

CBN stops banks with huge bad loans from paying dividends

Image result for Central Bank of NigeriaIt has been gathered that the Central Bank of Nigeria has stopped the payment of dividends to shareholders by Deposit Money Banks and discount houses with huge bad loans and low capital base.

This is due to the rising non-performing loans and the need to stop further erosion of the capital base of the banks and discount houses.

The directive is coming barely a week to the release of the 2017 financial year’s annual reports by commercial banks and discount houses in the country.

The development has dashed the hope of many shareholders as a number of the banks will be affected by the directive and consequently unable to pay dividends.

The CBN said the move was aimed at stemming the tide of rising non-performing loans and the consequent weakening and erosion of the banks’ capital base.

The directive was handed down in a letter dated January 31, 2018.

In the letter to the banks and discount houses, which was signed by the Director, Banking Supervision Department, CBN, Ahmad Abdullahi, the regulator said it had observed that rather than grow their capital with retaining earnings, some banks were paying out a greater proportion of their profits, irrespective of their risk profile and the need to build resilience through adequate capital buffers.

As a result, the apex bank barred the DMBs and discount houses with the NPLs above 10 per cent from paying dividends to their shareholders.

The CBN’s minimum NPL threshold for banks is five per cent, meaning lenders’ bad loans should not exceed five per cent of their loan books.

As of September 2017, the banking industry’s NPLs had hit 15.18 per cent.

The level of the NPLs in banks rose by 50 per cent to N2.4tn from N1.6tn in December 2016, according to the Nigeria Deposit Insurance Corporation’s data.

The CBN, in the latest circular, also directed that banks and discount houses, which did not meet the regulator’s minimum Capital Adequacy Ratio, not to pay dividends to their shareholders.

The CBN sets different minimum CARs for banks in the country: 16 per cent for those it considers to be systemically important; 15 per cent for those with international banking licences; and 10 per cent for the rest.

The circular, which was made public on Sunday, read in part, “Globally, retained earnings have been identified as an important source of growing an institution’s capital. Advantages of retained earnings include being a source of long-term finance; being easier and cheaper to raise than external finance; curtailment of financial risks; and improving liquidity and profitability.

“However, it has been observed that rather than take advantage of this beneficial means of capital generation, some institutions pay out a greater proportion of their profits, irrespective of their risk profile and the need to build resilience through adequate capital buffers.”

It added, “In order to facilitate sufficient and adequate capital build up for banks in tandem with their risk appetite, the following directives will now apply:

“Any Deposit Money Bank or discount house that does not meet the minimum capital adequacy ratio shall not be allowed to pay dividend.

“The DMBs and DHs that have a Composite Risk Rating of ‘High’ or a non-performing loan ratio of above 10 per cent shall not be allowed to pay dividend.

“The DMBs and DHs that meet the minimum capital adequacy ratio but have a CRR of ‘Above Average’ or an NPL ratio of more than five per cent but less than 10 per cent shall have dividend pay-out ratio of not more than 30 per cent.

“The DMBs and the DHs that have capital adequacy ratios of at least three per cent above the minimum requirement, the CRR of ‘Low’ and the NPL ratio of more than five per cent but less than 10 per cent, shall have dividend pay-out ratio of not more than 75 per cent of profit after tax.”

“There shall be no regulatory restriction on dividend pay-out for the DMBs and the DHs that meet the minimum capital adequacy ratio, have a CRR of ‘Low’ or ‘Moderate’ and an NPL ratio of not more than five per cent. However, it is expected that the boards of such institutions will recommend pay-outs based on effective risk assessment and economic realities.

“No DMB or DH shall be allowed to pay dividend out of reserves.

“Banks shall submit their board-approved dividend pay-out policy to the CBN before the payment of dividend shall be permitted. All ratios shall be based on financial year averages. This circular takes immediate effect.”

Fuji Icon, Kollington Ayinla features rapper son, Big Sheff in new album

Nigerian music legend, Kollington Ayinla strikes a rare pose with his son, Big Sheff (Photos)Fuji Music Icon, Alhaji Kollington Ayinla and his rapper son, Big Sheff are planning something big.

Fujiipop learnt  Kollington is wrapping up production on a new album titled ‘Yuppie Daddy’ his first in almost a decade which features his son.

Big Sheff is the son of Kollington and waka queen, Salawa Abeni.Nigerian music legend, Kollington Ayinla strikes a rare pose with his son, Big Sheff (Photos)

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