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Pastor Tunde Bakare Faces Humiliation as Wema Bank Moves to Recover N9 Billion Used For Building Church

• Loan Taken to Build New Multi-Billion Church
• How COVID-19 Messed up Repayment Plan

If the feelers coming from the headquarters of Wema Bank are something to be accorded some seriousness, 2022 may start on very interesting note for Pastor Tunde Bakare, the Senior Pastor of the Citadel Global Community Church (formerly known as the Latter Rain Assembly). With a renewed resolve of the management of the bank to retrieve all huge loans taken by debtors who have not been servicing their loans, the very voluble pastor may be in for interesting times, as the loan taken to build his new church has risen to about nine billion Naira (N9 billion).

According to information pieced together, the likelihood of Wema Bank’s axe falling on Bakare is high, and when it falls, it is going to cut so deep that even he would question where he went wrong.

It is being reported that in building his new church headquarters, the multi-billion naira Citadel Global Community Church edifice in Oregun, Ikeja, Lagos, Pastor Bakare exploited his relationship with Wema Bank to secure a N4.5billion loan. The thinking, according to sources close to the pastor is that the bigger the church became, the more populous and prosperous it would become.

However, neither Bakare nor any of Nigeria’s prominent pastors foresaw COVID-19, which altered how humanity related and worshipped God. As the world went into lockdown, with many public places and worship centres shut, many churches had to take their services online. Even though offerings were accepted online, the revenue was nowhere near when the church was in full swing.

Pastor Bakare’s projections did not materialise and now, the loan has reportedly risen to N9billion with interests. Sources close to the bank said overtures have been made to Bakare. The bank is currently weighing its options.

Until recently, Pastor Bakare maintained a good relationship with the first-generation bank. He was an ever-present figure at almost all the bank’s functions. When the bank celebrated its 70th anniversary in 2015, the lawyer turned fiery clergy was there. He also had a very robust relationship with the bank’s former MD/CEO, Segun Oloketuyi.

In 2016, Pastor Bakare was represented at the launch of a foundation to celebrate the 52nd birthday of the 2nd Vice President of the Nigerian Bar Association (NBA), Monday Onyekachi Ubani, by Oloketuyi. Oloketuyi has since left office.

But wait a minute, Nigeria may be broke. The country may be truly bankrupt. If that is the case, then the country may be flailing right at the edge of the deadly precipice, where prodigal clans careen and plunge down the steep plains of lavishness and sick delight.

The facts are mean and the statistics loom grotesquely like tragic integers of an economy in the chokehold of penury and devastation.

Worse hit is the financial sector in the catalogue of ruin that pervades the polity even as you read.

Prime culprits responsible for the depression stealthily stealing upon the country are the self-styled mavericks running the Nigerian financial sector amok. They are none other but the banking industry’s cowboys or rogue entrepreneurs if you like. These characters comprise executives of top banks in the nation’s financial sectors and they are to blame for the rot and spiraling misfortunes of the sector. While Nigeria depends on them to shrewdly manage and maneuver the economy from a state of uncertainty to a state of prosperity or future affluence, these characters conspired to effect the devastation of the banking industry.

And how did they do that? By granting outrageous loans without collateral and other mandatory securities to themselves, their principals and glorified tin gods among their clients. Rather than re-energise the banking system by imbuing it with the kind of visionary, dynamic and audacious initiatives reminiscent of the best the sector has to offer, these bank executives imposed on the country, a dark pall of financial doom and controversies via their inclinations for and brazen perpetration of cutthroat practices.

Many of them, bank Managing Directors (MDs) or Chief Executive Officers (CEOs) to be precise, sheepishly and maniacally played stooge cum dimwits to plundering boards of directors, chairmen of boards of their institutions, political tin gods and the current generation of aggressive entrepreneurs identified as young Turks of the nation’s oil and gas sectors. While serving as unquestioning muscles to their various principals and clients, these self-seeking MDs/CEOs, deviously sought for themselves large chunks of the loot they pillaged from the coffers of their banking institutions. It never mattered to them that they were playing with other people’s money, poor, helpless customers to be precise, they simply lusted and groveled for the good life.

There is no gainsaying these incumbent CEOs or MDs sheepishly kowtowed and still kowtow to the excessive demands of their principals and deified clients outside the walls of their banking institutions, what thus become shadow representatives of their will and demands. Shame!

Lagos Assembly Approves Sanwo-Olu’s N18bn loan request

The Lagos State House of Assembly on Thursday approved a request by Governor Babajide Sanwo-Olu for a loan of N18,225,336,103.89 from the Federal Ministry of Finance, Budget, and National Planning.

The loan is meant to ensure speedy completion of projects like the Lekki-Epe Expressway.

The approval was granted at a sitting presided over by the Speaker of the House, Rt. Hon. (Dr) Mudashiru Obasa, after a report on the loan request was laid and presented by the chairman of the House Committee on Finance, Hon. Rotimi Olowo.

Giving further information on the report, Hon. Olowo told his colleagues that the loan facility comes with an interest rate of five percent in the first two years and nine percent in subsequent years, with a two-year moratorium.

Many of the lawmakers who contributed to the debate supported that the facility be approved as it would further help the State sustain its mega-city status.

They commended the State Government for its proactiveness, saying that the loan will bring immense infrastructural benefits to Lagos.

They further said that the loan was favourable considering the conditions that come with it.

In his contribution, the chairman of the House Committee on Information, Hon. Setonji David, noted that the loan has a single-digit interest rate with a repayment period of 30 years.

He said the project for which the loan was being sought would drive sustainable economic growth and development in the State.

Speaker Obasa, after a voice vote of the lawmakers in support of the approval, directed the Acting Clerk of the House, Mr. Olalekan Onafeko, to send a clean copy of the approval to the Governor.

Meanwhile, Speaker Obasa has described Nigeria as a blessed nation loved by God in a message released by his media office in commemoration of the 2021 Christmas celebration.

Dr. Obasa urged Christians and other Nigerians to continue to replicate this love from God in their daily activities as love is what the country needs at this phase of its journey to greatness.

“Jesus Christ, the celebrated face of the Christians around the world, preached and taught love as one of the greatest commandments from God.

“If we think deeply, we will understand that love is an ultimate solution to the many challenges facing mankind.

“All the commandments that God handed man can be summarised into the need to love Him and love our neighbours.

“There is, therefore, no gainsaying that if we maintain our resolve, individually and collectively, to love one another as emphasised by Jesus, the world would be a better place,” the Speaker said.

While urging Christians not to relent in their prayers for Nigeria, he advised Lagosians and other citizens of the country to ensure a peaceful celebration, remain conscious of their environment and continue to adhere to COVID-19 rules.

Eromosele Ebhomele
Chief Press Secretary to the Speaker of the Lagos State House of Assembly.

Seplat Energy sacks Austin Avuru over ‘breach’ of company policies

Seplat Energy Plc says it has terminated the appointment of Austin Avuru as a non-executive director of the company.

Edith Onwuchekwa, director, legal and company secretary at Seplat, announced this in a corporate filing on Thursday.

This is coming a month after Bryant Orjiako, chairman of Seplat Energy Plc, said he will step down from his position in 2022.

Onwuchekwa said the board approved Avuru’s termination on Wednesday due to “breaches of the company’s corporate governance policies and his fiduciary duties”.

The statement further added that Platform Petroleum Limited, which operates as an integrated oil and gas production, processing, and marketing chain, would nominate a candidate that will serve in his stead.

“In line with Seplat Energy’s Memorandum and Articles of Association, Platform Petroleum Limited has been asked to nominate a candidate for his replacement on the board, and a further announcement will be made in due course,” the statement reads.

Austin Avuru had retired as founder and chief executive officer (CEO) of Seplat Petroleum Development Company Plc on July 31, 2020, but had remained on the board as a non-executive director.

He was the pioneer managing director of Seplat before he moved to become the CEO.

Pen for Hire! OSMOSERVE Rubbishes Blogger’s Attempt To Tarnish Company, MD’s Reputation

Necessity is the regular excuse of rapscallions. It is the mephistophelean plea used to legitimize devilish deeds, like the willful maligning of upright men by a hack writer, like Jackson Ude, the owner of Pointblankblog.com

Ude recently embarked on a mission to malign patriotic and industrious businessman, Scott Tommey, whose exploits in the business sector have become a source of worry and sleepless nights to Ude and perhaps, his sponsors.

Ude in a manner unbecoming of a journalist launched an attack against the businessman, writing to harass the latter with trumped-up allegations fed to him by his malefic cohorts.

In the performance of his hatchet work, he contacted the illustrious businessman, quoting slanted facts and outright lies, in the purported discharge of his journalistic role.

But since he has deemed it fit to whore himself out to corrupt and faceless elements with destructive intent, the Media Consultant to Osmoserve Global Limited, Obafemi Ajayi, has slammed the controversy-prone blogger, over his story in which he imputed wrong and malicious motives into the business transactions of the Managing Director, Scott Tommey.

In the latest tirade tweeted by one Jackson Ude, whose stock-in-trade has been to fabricate utter falsehood, and disseminate same via multiple social media platforms, the pen-for-hire writer alluded that Scott Tommey is fronting for the Niger Delta Affairs Minister, Godswill Akpabio.

In all ramifications, Tommey possesses home-grown intelligence that complements his sophistication. A shrewd manager of resources and a billionaire with benevolent mien, Tommey’s journey to the summit of entrepreneurial success is strewn with tales of struggles, determination and destiny.

Tommey has done extraordinarily well to have built a world class multi-billion business enterprise in the mould of Osmoserve, whose specialty has brought physical infrastructural transformation to the Niger-Delta region. In his bid to play down his ingenuity and business savvy, Ajayi attributes Osmoserve’s climb to the pinnacle of entrepreneurial success to sheer determination, providence and God’s grace. He is not anybody’s bagman.

Debunking the story as utter lies, Prince Obafemi Ajayi, considers “very laughable the fact that Ude and his sponsors, as well as those mischievously escalating the fake news, were so blinded by mischief and pull-him-down syndrome that they could see the clear holes in their fabrication. Mr Scott Tommey is well respected businessman and he is not Akpabio or anyone’s front. The assertion is not true”.

Ajayi explained that Jackson Ude “is in the trade of tarnishing Nigerian brands with unsubstantiated contents. He pointed to the petition of Vice President Yemi Osinbajo to the Inspector-General Police, demanding a thorough investigation of the blogger after publishing malicious story, in which he alleged that the suspended acting Chairman of the EFCC, Ibrahim Magu, facing a presidential probe, told the investigative panel that he gave N4bn to Osinbajo. Not only has Magu debunked the claim; the panel has also released statement putting a lie to Ude’s allegation.

“This is calling on unsuspecting public to be wary of Ude’s shenanigans, as we also wish to sound a note of warning to all those who have made it their pastime to sponsor malicious write-ups, tweets and online publications against Osmoserve Global and our MD, that their day of reckoning is not far away,” Ajayi expressed.

“We have put our legal team on notice to deal with such malicious write-ups. We also urge the general public to kindly disregard the Ude mischievous tweets and similar others, for what they are: blatantly false and malicious,” he advised.

Ecobank Supports Reliable Credit Practice In Nigeria – Akinwuntan

The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has stated the readiness of the bank to partner with the Institute of Credit Administration (ICA) to create a reliable and enhance credit practice in the country. Speaking during an official visit of ICA Management team to the Ecobank Pan African Centre (EPAC) in Lagos, Akinwuntan observed that Ecobank as a Pan African financial institution is at the vanguard of deepening credit culture on the continent. He stated that that the bank has a robust risk infrastructure that supports the understanding of customers credit behaviour.

In his comment, Registrar and Chief Executive Officer, ICA, Prof. Chris Onalo, who described Ecobank as a credible financial organization, said the visit was to solicit for collaboration and partnership in the area of capacity building and staff membership, with a view to enhancing credit management and policy advocacy relating to sound credit market system, stressing that the global economy works on credit.

Further, Mr Onalo reiterated that ICA is Nigeria’s only nationally recognized professional credit management body, solely dedicated to the provision of Micro And Macro Credit Management Education, award of specialist qualifications, development of skills and capacity building of people involved in everyday management of trade, financial, consumer and business credits.

he added that a rich credit culture will help to reduce poverty and develop the nation’s economy as more people will be engaged in productive ventures.

NIGERIAN ARMY PROMOTES SENIOR OFFICERS

The Army Council has on Tuesday the 21st of December 2021, approved the promotion of senior officers to the ranks of Major General and Brigadier General respectively. A total of 41 Brigadier Generals were meritoriously promoted to the enviable rank of Major General, while 76 Colonels were also elevated to the rank of Brigadier General.

Amongst those promoted to the rank of Major General include –
Brigadier General CU Onwunle Director, Directorate of Army Data Processing Lagos, Brigadier General M Danmadami Research Fellow/Subject Expert, Indian Sub-Continental at the Nigerian Army Resource Centre Abuja, Brigadier General OJ Akpor, Director Military Training Nigerian Defence Academy, Brigadier General UT Musa of the Department of Administration Army Headquarters Abuja, Brigadier General AA Eyitayo, Acting General Officer Commanding 7 Division/ JTF NE Operation HADIN KAI Maiduguri, Borno State. Others are Brigadier General V Ebhaleme of Defence Space Administration Abuja, Brigadier General LT Omoniyi of Department of Civil Military Affairs Abuja and Brigadier General NU Muktar Acting Director of Procurement at the Office of the Chief of Army Staff, Army Headquarters Abuja amongst others.

Those promoted to Brigadier General include,
Colonel O Adegbe Headquarters Training and Doctrine Command Minna, Colonel AA Babalola Headquarters 3 Division, Colonel NN Orok of Defence Headquarters, Colonel MO Ibrahim Army War College Nigeria, Col BO Omopariola Commander 25 Task Force Brigade, Colonel UV Unachukwu Army War College Nigeria, Colonel OAO Ojo Headquarters Nigerian Army Signals Lagos and Col HI Dasuki of the Forward Operating Base, Ngamdu, Borno State amongst others

The Chief of Army Staff, Lieutenant General Faruk Yahaya congratulates all the promoted officers and their families, and urges them to redouble their effort to justify the confidence reposed in them by the NA.

ONYEMA NWACHUKWU
Brigadier General
Acting Director Army Public Relations
22 December 2021

DR DK OLUKOYA OF MFM LAUNCHES OVER 3O YEARS MUSIC

DR DK OLUKOYA OF MFM LAUNCHES OVER 3O YEARS MUSIC COMPILATIONS CATALOGUE

He is known and called so many different names globally,depends on the side of him you meet and experience as an individual or a collective body.

Some generally call him GO, to some daddy, to some, a helper, for some a God’s general and to many others a philanthropist, a humanitarian, Gods battle axe of deliverance, a scientist, a giver, a blessing to mankind, an Elijah of our time and so on, but little do so many know that this wonderful father and loving husband who is the founder and General Overseer of the Mountain of Fire and Miracles Ministries is a MASTER MUSICIAN, a composer, an organist and A song writer that has been penning down tunes and melodies for so many years.

In a few days, one of the most valuable music catalogues of CHORAL AND SOLO COMPOSITION will be launched, first of its kind in the world. I stand to be corrected but I think its one of the most voluminous African Arts music compilations, that will ever be released at a time, an art of over 30 years of hard work.

So, are you a musician? Composer? A classical Music Lover? keep the 25th of December in your diary and join the unveiling at THE GRACE HALL MFM INTERNATIONAL HEADQUARTERS YABA LAGOS NIGERIA and experience music like never before.

Dreamfo Foundation Lagos Celebrates Widows, Widowers’ Children At Xmas Talent Hunt

The city of Lagos was set agog when Dreamfo Foundation gathered more than 300 widows, widowers’ children to throw a lavish special Xmas party and to allow the children to showcase their God’s given talents in the areas of modeling, fashion parade, songs/musical showbiz and dancing competition.

As organised, each category has first and second runner-ups and attached with reasonable, commendable and laudable prizes.

It was a gracious moment when the chairman committee for the programme, Olugbenga Sholarin engaged Oluwaseun Fabiyi, publisher of BethNews Media in a brief discussion. He said this stands as first event Dreamfo Foundation will be organising for Widows widowers Children in Nigeria, especially in Lagos. Saying further, it is necessary we cater for our children and always make them happy.

Mrs Olubunmi Ojo Afolabi a quintessential woman of repute and selfless service/support woman to humanity is the founder of Dr. Olusegun Afolabi Memorial Foundation (Dreamfo). She hails from Akure in Ondo State Nigeria and was married to Dr. Olusegun Emmanuel Afolabi for eleven years before his demise as a result of cancer some years ago.
Olubunmi, holds a B. Eng. degree in Mechanical Engineering from Ondo State University,Ado Ekiti, Msc Information Technology from University of Greenwich in London and another Msc in Social work from London Metropolitan University.

During a phone conversation with Oluwaseun Fabiyi, her media consultant/publicist she described Dreamfo Foundation as an international organisation registered in Nigeria and known as one of the reputable charity foundations aimed at empowering widows, widowers and less privileged who seem to have lost their hopes of survival as the foundation has just demonstrated its great passion and relentless efforts to show kindness and to put smiles on the faces of some Lagos widows, widowers by gathering over 300 of their children for talent hunt to showcases their God’s given talents.

The memorable children Xmas fun/talent hunt was graciously attended by the parents of the participants, some dignitaries including five panel of judges who are Dr. Kunle Hamilton, Age Anthony, Ola Onabajo, Tosin Faleye and Sunday Adeyemi.

“We look forward to always Celebrating widows, widowers children at all cost and to do more in the years to come.” Olubunmi Ojo Afolabi added.

THAT THERE MAY BE JUSTICE FOR KEREN AKPAGHER By Ambrose Omoregie

Last week, the Nigerian Police conducted an autopsy on the body of the Late Sylvester Omoroni of Dowen College. The body was thereafter released to the family for burial while the Police would continue with its investigation.

The autopsy was said to have been witnessed by the family of the deceased, families of the students accused of the act of bullying as well as the police and State Ministry of Health officials. Autopsy, as is known all over the world, is the first and most basic legal pointer in investigating cause of death.

Remarkably all the parties in the Omoroni case are maintaining a commendable level of maturity and keen determination to cooperate and support the police investigation and ensure that the rule of law is allowed to operate unhindered, even as each party wants justice served.

It would be recalled that the Late Sylvester Omoroni was a JSS 2 student of Dowen College who was alleged to have been bullied by some fellow students in what later led to the death of the youngster. Thanks to the video released by the Omoroni family, the whole nation was able to listen to the disclosure by Sylvester on how he was bullied. Public sentiments was built on, at least, a foundation of verifiable disclosure.

Sadly, there is another case- the case of Keren Akpagher, the late student of Premiere Academy, Abuja- which also is being investigated by the police but appears to have become, of late, an agenda for serving a purpose beyond seeking justice for the dead.

As in the Omoroni case, the police had conducted an autopsy in July on the corpse of Keren Akpagher in the presence of all the parties involved in the case. Customarily, the result of the autopsy would have been read to the parties while police would continue its investigation.

Thankfully, the BBC has done a story – https://bbc.com/pidgin/tori-59453675 – in which it featured a screenshot of the said autopsy report. The cause of death is there for all to see.

Though the police has not publicly released the autopsy report and full report of its investigation, the BBC report has helped the public with a sneak preview of the autopsy report.

In spite of this public knowledge, the mother of Keren Akpagher, edged on by a fledgling body known as the Coalition of Gender Based Violence Responders, has continued to canvas a claim not supported by any autopsy report in a move that appears geared towards rousing public anger against the school and the entire police investigation process.

The matter is being investigated by the Inspector General of Police, at the request of Keren’s mother who requested that the investigation be transferred from the FCT Police to the IGP. That request was granted. The school was not known to have opposed it. The IGP table is the highest echelon of the police system. That is where the case is currently. It is, therefore, baffling that the same person that requested investigation to be transferred to a specific head of an institution would not allow the investigation to run its course but would rather seek to truncate it.

Could there have been two separate autopsy done on the corpse of the late Keren Akpagher? Was there another autopsy report known only to the mother and not to the other parties to the case, including the police?

Keren Akpagher’s mother and the NGO promoting her case in the court of public opinion need to be more forthcoming. To date, they have not shown the world the autopsy report upon which their claim of Keren’s death derives from. They have not shown the world a single audio or video recording of Keren’s confession or disclosure to them before she died to back the outlandish claims being pushed in the media. The Akpagher family, it should be stated, does not fit the profile of a rustic, illiterate and unintelligent family that would not understand how vital it is to get a weighty disclosure such as rape of their only daughter down on tape, audio or video.

There is also another baffling question of why Keren’s mother and the NGO would choose to rouse the social media against the school in what appears as seeking to build enough army of angry, misinformed people that could be mobilized to get the school shut down and/or vandalized at all cost? Why choose public incitement against another party in a case you are involved and that is under investigation? What is the Law Court for?

Curiously, throughout the various activities and undertakings of the group, there has been no single call on the police to speed up its investigation or release its reports. If truly, the aim is to get justice for the departed, why is the group not talking of occupying the Police Headquarters? Or, putting pressure on the public to get the IGP to act faster in the matter? Why, instead, is the talk about occupying the properties and residences of the owners of the school and their other businesses?

On the contrary, why is it only the school that has been calling on the police to publicly release the autopsy and investigation reports? To date, the school said, between August and December, it wrote the Police three times, pleading for the public release of the autopsy report and report of investigation in the case.

Why has Keren’s mother not made this her first demand, in the true spirit of seeking justice?

Tukur Buratai Research Centre Expands To Nasawara State

Governor Abdullahi Sule of Nasarawa State, the Chief of Defence Staff, General Lucky Irabor, Alhaji Abdul Samad Isyaku Rabiu, Chairman, Bua group and other dignitaries, on Saturday, December 18, witnessed the laying of the foundation for Tukur Buratai Research Centre, Gora, Nasarawa State.

The foundation laying ceremony and fundraising for the Tukur Buratai Institute of Security and Strategic Studies & Peace and Conflict Resolution happened at the Tukur and Tukur Snakes Farm at Uke, Nasarawa State.
This is contained in a statement signed by Brigadier General Sani Kukasheka Usman, Ret’d and made available to newsmen.

According to the statement, governor Sule laid the foundation for the multi-million Naira Tukur Yusuf Buratai Research Centre, TBRC, and this has partly addressed the quest for modern and sustainable security research centres in the country.

In his speech, the Comrade Vice Chancellor of Nasarawa State University, Keffi, Professor Suleiman Bala Mohammed, noted that NSUK is accredited as one of the fastest-growing state universities in the country.

He added that the event marked a new stride in the trajectory of NSUK, apart from the introduction of the Faculty of Engineering and College of Medical Sciences.

The former Chief of Army Staff and Ambassador, Lt. General Tukur Buratai who was the host of the occasion remarked that the institute will further chart a new course for resolving security issues that confront the country at large.

The event had in attendance the Executive Governor of Nasarawa state, Abdullahi A Sule, the Chief of Defence Staff, Chief of Air Staff, Distinguished Senators Ali Ndume and Abdullahi Adamu, chairman of BUA Group, Emir of Keffi, HRH Dr. Shehu Chindo Yamusa III who was the royal father of the day, other royal and titleholders within and outside the state and other well-wishers.

The event also witnessed the presentation of award plaques to the guests and pledges and transfers, which amounted to N220,950,000 from well-wishers, guests and highly respected dignitaries who assembled at the venue.