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Bank Robbery: Area Commander Escapes Death – Punch, Page 10

A gang of armed robbers raided a second generation bank, Intercontinental bank Plc, Ijebu-Igbo branch, on Thursday morning and stole unspecified amounts of money in a 45-minute operation. Eyewitnesses told our correspondent that the armed robbers, numbering about 12, stormed the bank at about 9.30am in a bus and a Mercedes Benz car. They allegedly uprooted the security door at the bank with a sledge hammer before holding the workers and customers hostage at gun point. It was gathered that the armed robbers, who escaped with their loot through Atan Road before hitting the Benin-Ore Expressway, opened fore on the vehicle of the Area Commander of Ijebu Igbo, Mr. Christopher Obagunle, an Assistant Commissioner of Police at Atan.



Moneygram Extends Reach In Nigeria – Punch, Page 20

The management of Moneygram International, a money transfer company, has signed an agreement with First Bank of Nigeria Plc. With the partnership, Moneygram, according to the company’s Chief Executive Officer, Miss Pamela Patsley, has reached the milestone of 200,000 agents across the world. A statement on Thursday quoted her as saying that the company was celebrating the accomplishment with the contribution of $200,000 to no-profit organizations around the world, part of which was the donation of $20,000 to the Grameen Foundation in Nigeria.



BNP Paribas To Finance Govt, Private Projects’ Expansion – Guardian, Page 17

BNP Paribas has pledged commitment to provide more structured financing facilities for government and private sector projects in Nigeria, as part of its African business expansion. The Deputy Global Head of Export Finance as well as Head, Regional Development and Organisation of the institution, Yesser Henda, said at an import finance seminar organized by the financial institution in Lagos recently that BNP Paribas intends to do more business in Nigeria through advisory services and structured finance of medium to long term tenure for import of capital goods, equipment and services into the country.



Firm Begins ATM Card Production – Guardian, Page 19

Electronic PayPlus Limited has commenced production of Automated Teller Machine (ATM) cards for banks with capacity to produce 15,000 in a day, the Chief Executive Officer of the company, Mr. Bayo Adeokun, has said. The CEO, during a tour of the company’s facilities in Lagos recently, said that the firm would scale up its capacity as patronage increased. Adeokun said that the company had the Verve certification and currently in the process of getting MasterCard certification, adding that the next line of action was to attain the Visa certification. He added that the company through operating shifts so that some employees could work overnight could accommodate demand exceeding 15,000 cards per day.





Market Value Puts Tier 2 Banks Ahead Of Peers – Business Day, Page 1

Contrary to the popular belief that the banking industry is dominated by the big four – First Bank, GT Bank, UBA and Zenith Bank – which are considered to be in the tier one or industry leaders, market sentiments, particularly in the post-banking reforms seem to favour the tier two banks, comprising, Access Bank, Diamond Bank, FCMB and Skye Bank, based on some indices, according to Renaissance capital (Rencap). Tier one capital is the core measure of a bank’s financial strength from a regulator’s point of view. It is composed of core capital, consisting primarily of common stock and disclosed reserves (or retained earnings). It may also include non-redeemable non-cumulative preferred stocks. The essence is its ability to provide protection against unexpected losses. The tier one capital ratio is the ratio of a bank’s core equity capital to its total assets, while the tier two risk based capital ratio on the other hand is the ratio of a bank’s core (equity capital) to its total risk-weightened assets.





History As World Cup Debuts In S’Africa – Thisday, Page 1

South Africa is in hyper drive as the country hosts this afternoon the first ever FIFA World Cup finals to be staged on the African continent in the 80 years of the tournament. President Goodluck Jonathan left Abuja last night for Johannesburg, South Africa, for the opening ceremonies of the World Cup. South African President Jacob Zuma had specifically invited him for the event. The President left the Nnamdi Azikiwe International Airport, Abuja around 11.00pm in the Presidential Jet, Air Force One. When FIFA awarded the tournament to the ‘Rainbow Nation’ some six years ago, many in the West felt that the World Football governing body had made a big mistake. Despite this skepticism, FIFA President Sepp Blatter resolutely stood behind the 1996 African Cup of Nations host, insisting that South Africa would not only be ready on time but would organize in impressive tournament.



Deji Of Akure Deposed, Banished, Arrested – Punch, Page 1

The Ondo State government on Thursday deposed the Deji of Akure, Oba Oluwadare Adesina, “with immediate effect”. A statement by the Chief Press Secretary to Governor Olusegun Mimiko of Ondo State, Mr. Kolawole Olabisi, said the decision was reached at a meeting of the State Executive Council presided in Akure. The statement said the government subsequently directed Akure kingmakers and the Akure South Local Government to immediately commence the process leading to the emergence and installation of a new Deji of Akure.



Ibori Loses Bail In Dubai, Remanded In Police Custody – Punch, Page 2

The travails of former Delta State Governor, Chief James Ibori have worsened as a court in Dubai, United Arab Emirates, revoked the bail he was granted on May 13. Two Nigerian online news agencies – Saharareporters and The Will – said in their reports on Thursday that the Dubai police, acting on an intelligence report, revoked the bail on the grounds that Ibori might escape from the oil-rich Arab country. The agencies added in the reports that the former governor’s bail was revoked as soon as he arrived at the police headquarters in Dubai on Tuesday. Saharareporters said “The police, acting on actionable intelligence, revoked his bail as soon as he arrived their headquarters, having become desperate following the sentencing of two of his associates to five-year jail terms.”\



Impeachment: Bayelsa Deputy Governor Heads To Court – Thisday, Page 3

Facing threat of impeachment, Bayelsa State Deputy Governor Peremobowei Ebebi has headed to court in order to stop his removal from office, THISDAY has learnt. Yesterday, Ebebi drew the attention of the state Chief Judge to a suit which he instituted against the Speaker of the State House of Assembly Werinipre Seibarugu at the state High Court, with suit No YHC/201/2010. He said that up till yesterday, he had not received any notice of impeachment despite the fact that the Speaker had announced that he had been served notice signed by 17 members of the House. Ebebi argued that the process by which the House was plotting to remove him through resolution directing him (the CVJ) to constitute a seven-man panel, was not in the 1999 constitution.



2010 Admissions: JAMB Sets 180 As Cut-Off Mark – Punch, Page 8

The Joint Admission and Matriculation Board (JAMB) on Thursday said it had set 180 as the cut-off mark for admission into all categories of tertiary institutions across Nigeria for 2010. The decision was reached after the first combined policy committee meeting on admission to degree-awarding institutions, National Diploma, National Certificate in Education and National Innovation Diploma-awarding institutions held in Abuja. The cut-off mark affects all the candidates that sat for the first Unified Tertiary Matriculation Examination conducted on April 17.



Ondo Set To Reduce Unemployment With 10,000 Jobs – Tribune, Page 12

Ondo State Governor, Olusegun Mimiko, on Thursday, said the state government would employ over 10,000 youths in Ondo in its determination to reduce graduate unemployment. Mimiko, who disclosed this in Ondo Town while declaring open a six-week training programme in Information and Communications Technology (ICT) and renewable Energy organized by Tech Ville Limited, stated that more than 4,000 youths had already been employed by the government in various sectors in the last 15 months.



Power Supply: Nigeria To Partner US – Thisday, Page 1

Efforts to solve the country’s power generation and distribution problem were stepped up yesterday when Nigeria and United States government officials inaugurated an Energy and Investment Working Group in Washington D.C. The inauguration took place during a two-day bilateral talk on Energy and Investment at the US Department of State. The group would discuss issues affecting Nigeria’s energy sector and proffer suggestions on energy investment challenges and opportunities that would serve as a catalyst to the development of the sector. Yesterday’s bilateral talks ushered in the next phase of the Bi-national Commission Agreement signed in Washington DC by the two countries in April.



Erediauwa, Benin Priests Invoke Curses On Robbers, Kidnappers, Others – Guardian, Page 3

It was a gathering of all known spiritualists, native doctors and medicine men all over Benin Kingdom as they gathered at the City Centre, Urokpota Hall to invoke curses of death and tragedies on all those directly and indirectly involved in criminal activities of armed robbery, kidnappings, ritual killings among other crimes in Edo State. The rituals, which lasted for about six hours paralysed activities in the city centre. Led by the Iyase of Benin Kingdom (Prime Minister), Chief Sam Igbe and the Chief Priest of the Kingdom, Chief Nosakhare Isehkure, the all-male participants, which included high ranking palace chiefs, traditional heads (Enigies) of communities in the curse ritual clad in red apparels slaughtered more than 20 various animals and their blood sprinkled in various shrines across the city. Thereafter, various juju priests rained curses on the criminals who have made the state capital unsafe and almost devoid of night life.



Talks Open On Security Council Reform Today – Guardian, Page 1

The stakes and the expectations are high. And diplomats from countries aspiring for permanent sets in the United Nations Security Council are leaving nothing to chances. At the forefront of the diplomatic overtures to UN members believed to have critical roles to play in the bid to reform the world body and possibly appoint new permanent members in the Security Council are African countries. As the UN opens discussion on the issue today, African envoys have said that the forum would enable the continent to know its true friends. At stake in the continent, is the determination of whether Africa as a bloc will get seats as permanent members of the world body.