The reason behind Halle Berry and Olivier Martinez split

Last week rumors spread that Halle Berry and third husband actor Olivier Martinez may be headed for divorce. And now there are reports that the reason behind the split is Halle and Olivier Martinez' 6 month old son...

From Star Magazine

Friends say that the duo are leading increasingly separate lives because they can’t stop fighting. “They have had some extremely vicious arguments, and every small thing is causing issues,” a source says.

“Olivier thinks Halle is spending too much time working and trying to lose weight and not enough time on their baby. Halle is tired of Olivier telling her what to do.

Both of them are very hot tempered and stubborn.

'How to end corruption in Nigeria' - Ngozi Okonjo-Iweala speaks with CNN

Minister for Finance and Coordinator of the Economy Ngozi Okonjo Iweala was a guest on CNN’s Fareed Zakaria GPS programme on Sunday where she acknowledged that there was corruption in Nigeria but said that the fight against corruption must involve every Nigerian...

"No one can fight corruption for Nigerians except Nigerians. Everyone has to be committed from the top to the bottom to fight it. In our country, we need to, coupled with – by all means pursue those who are corrupt, punish them, you know, make sure there’s no impunity.  But that has to be coupled with something which doesn’t get as much attention, which is building institutions.  It’s unglamorous; it’s work that takes time, but we have to do it.  We have to put it in place.” she said.

The Minister was also taken up by the presenter on Sanusi's suspension. He asked her why Sanusi was suspended after he discovered that monies had been siphoned from the NNPC account of which the Minister responded that Sanusi did not say monies were siphoned, he said money was unaccounted for. Full text of the Interview after the cut...

ZAKARIA:  Listen in to our conversation.  I began by asking her why the central banker was suspended for blowing the whistle.

NGOZI OKONJO-IWEALA, NIGERIAN FINANCE MINISTER:  I believe that when you find problems, you should also find solutions.  I think the problem began the first time when he said that the amount that was – he never said it was stolen.  He said it was unaccounted for, was $49.8 billion.
And he wrote a letter to the president; he called me a couple of days after, to say I’ve written this letter.  And my first reaction was, that’s not possible.  We couldn’t be missing $50 billion as finance minister in this country.  We wouldn’t be able to function because that’s too high a hit.  Everybody would know it and feel it in the economy.

ZAKARIA:  There is some substantial gap.

OKONJO-IWEALA:  Oh, yes –

ZAKARIA:  Right?  I mean –

OKONJO-IWEALA:  No, we –

ZAKARIA:  – the World Bank, I think when you were one of the managing directors, issued a report on the Nigerian economy in which it said hundreds of billions of dollars over the past 30 or 40 years have been siphoned off.  And so this would be a perfect example of precisely this kind of siphoning off.

OKONJO-IWEALA:  No.  I think we should hold our horses a little bit.  Sanusi please ask him never said the money had been siphoned off.  He said it was unaccounted for.
And hold on.  There’s a difference, because when he alleged $49.8 billion – and this was looked at, it was found that some of that money had really been remitted to the tax agency directly and his people were not aware of it.
So $16 billion was immediately accounted for that, you know, they didn’t seem to know the accounting mode of the agency, so that’s what I’m saying.
But there has been – there’s no doubt that Nigerians feel suspicious of the oil sector, that it has been regarded as opaque over the years and this is not an issue, you know, whether it’s $10.8 billion, whether it’s $1, you know, we can’t afford to lose any money from the treasury.

ZAKARIA:  But then why fire the central banker, a respected central banker?

OKOJO-IWEALA:  You know, Fareed, what I would like to do is perhaps focus on the economy, because I don’t think I want to get into this issue of firing/not firing.  He’s still governor of the central bank.  He has been suspended.  He hasn’t been fired.
But I think we need to focus on the central issue, which is no one dollar should be lost from the treasury.  Any money that belongs to it must be remitted.  That’s what we’re insisting.
And the president, we pushed for – he has ordered one yesterday, that there should be a forensic audit to determine where these moneys, that what is unaccounted for, is it the $10.8 billion that we are saying from the accounts?
We’ve been working on this for two years.
And you know, is it $50 billion?  Is it $20 billion?  Is it $12 billion?  What is the amount?  We need to know for the sake of the Nigerian people and he has ordered that.  So we want it to be independent; we want it to be well done, so that we can lay it to rest.

ZAKARIA:  So how do we – how do you solve the problem of corruption?

You’ve been in government twice.  You have a reputation for being extremely honest.
What would you do, if you had a magic wand, if you were president, what would you do to get Nigeria to get this cancer out of its system?

OKOJO-IWEALA:  Well, you know, Fareed, you know with that, there are no easy answers.  But there’s one thing I want to say and repeat.  No one can fight corruption for Nigerians except Nigerians.  Everyone has to be committed from the top to the bottom to fight it.
And I think there are two key things that need to be done all along, and it’s not just in Nigeria.  It’s in many developing countries that you need to do this.
But in our country, you need to, coupled with – by all means pursue those who are corrupt, punish them, you know, make sure there’s no impunity.  But that has to be coupled with something which doesn’t get as much attention, which is building institutions.  It’s unglamorous; it’s work that takes time, but we have to do it.  We have to put it in place.

ZAKARIA:  I have to ask you a question that is not part of directly your portfolio, but it is your government.
Nigeria has always had laws banning homosexuality.  But you advanced a further law which criminalized it so that somebody who is gay would have to spend 14 years in prison.
You also have passed – the law says that people who are in some way promoting gay clubs or gay discussion would be imprisoned for 10 years.  This seems an assault on a minority’s rights.  It also seems an assault on free speech.
Why is Nigeria doing this?

OKOJO-IWEALA:  Well, let me say this, Fareed, that, you know, we’re here in the U.S.  And it took 40 to 50 years or more under conversation of, you know, the gay community to get where the U.S. is.
I think that, you know, we need a conversation in the country.  We need evolution.  Ninety-six percent of people support these laws, but I think we need to unpack the laws, for them to see, you know, between being a gay person and between same-sex marriage because the two are compounded in people’s minds and there’s a strong sentiment against same-sex marriage, just as you had here before.
And it’s still evolving.  I think it’s a question of conversation, discussion, evolution, education and engagement over time, just as happened in this country and in Europe.  It’s not something that happened overnight.  So I would say withhold judgment and let us work on this.
ZAKARIA:  Madam Finance Minister, pleasure to have you on.

OKOJO-IWEALA:  Thank you.
ZAKARIA:  And we will be back.
End.

Kanye West sentenced to 2 years probation, 250 hours community service

Kanye West has been sentenced to 2years probation and 250 hours community service after the attack on a photographer at Los Angeles Airport in 2013, E! News reports.

Kanye pled no contest to one count of misdemeanor battery yesterday in response to videographer Daniel Ramos lawsuit against him. Kanye attacked Ramos at LAX airport in August last year as the paparazzo tried to take photos of him

Minus the two year probation and community service, Kanye is also required to complete 24 sessions of a level-2 anger management program and he must turn himself in to the LAPD for a formal booking. Kanye agreed to all this to make the case disappear from his record.

Boko Haram kills 2, burn churches in Borno

Members of the Boko Haram sect last night around 10pm attacked the Pela Birni village of Hawul LGA of Borno state, killing at least 2 people and burning down churches and houses. Reports say the men came into the Christian dominated village with AK 47 rifles and other powerful explosives which they used to shoot people indiscriminately and also set homes and churches ablaze. Amongst the churches destroyed was the Church of the Brethren.

Chairman of Hawul Local Government Area, Dr. Andrew Usman Malgwi confirmed the incident and said he has informed the higher authorities

"Yes there was an attack in one of my village yesterday which led to wanton killings and destruction of property. We have communicated to relevant security agencies on the matter who have swung into action with a view to apprehend the perpetrators, we have also mobilized our people to ascertain the damage and assist the displaced Persons as an interim measure” he said.

President Jonathan summons Interior Minister, Immigration boss

President Jonathan this morning summoned the Minister of Interior, Abba Moro and the Comptroller-General of the Nigerian Immigration Service, David Parradang, to explain last Saturday's unfortunate incident at the poorly organized NIS recruitment exercise where over ten people died during stampedes at various test centres..

The two ministers both arrived at the office of the Chief of Staff where they spent sometime before being invited into the President's office where they spent about 30mins. Both men declined to speak to reports on their discussion with the President when they came out. Hopefully, someone will explain to us why the government would ask jobless youths to pay N1,000 to write employment test.

'Female Baby Having Two Heads' Born In India

Conjoined twins were born at a hospital in northern India on Wednesday morning.
"Yes this report is perfectly true that we have delivered a female baby having two heads,” Dr. Ashish Sehgal, the CEO of Cygnus JK Hindu Hospital, told ABCNews.com in an email. “She is presently alive and healthy.”
Story continues below


The New York Daily News reports that the babies' mom, Urmila Sharma, couldn't afford an ultrasound and didn't know she was delivering conjoined twins.
"We only came to know she was carrying conjoined twins after an ultrasound two weeks ago but it was too late to do anything by then," Dr Shikha Malik, who delivered the baby, said.
According to the Daily Mail, the twins have "two heads, two necks and two spines," but just one body and their chances for survival are slim.
Sehgal told the Daily News that a “meticulous and challenging” surgery could be the key to saving the twins' life, but the procedure can't take place until they are in stable condition.

Sanusi Lamido responds to allegations of financial recklessness

 

 

 

 

 

 

 

   

 

 

Suspended CBN governor, Sanusi Lamido Sanusi yesterday Sunday March 16th responded to allegations of financial recklessness leveled against him by the Financial Reporting Council of Nigeria (FRCN) and the Federal Government. Find the full statement he released below...

I am compelled to make this public statement to address the various allegations levied against the Central Bank of Nigeria (CBN) and cited as the reasons for my suspension from office as the Governor of the CBN on the 19th of February 2014.

As a matter of record, the allegations were made in the following documents:

i. Briefing Note of the Financial Reporting Council of Nigeria (FRCN) dated 7th June 2013, Ref: PRES/188/T&I/89 to His Excellency, President Goodluck Ebele Jonathan [the Briefing Note];
ii. The Letter of Suspension dated 19th February 2014, which I received from the Office of the Secretary to the Government of the Federation; and
iii. The petition dated 9th February 2014 by Mr Erastus Akingbola.

However, before I go into the above issues, let me reiterate for the records, the achievements of the CBN during my tenure as the Governor:

The Record

Firstly, let me state that I have been extremely fortunate to have had a solid and supportive team led by the Deputy Governors and supported by the Departmental Directors, as well as thousands of hardworking and dedicated staff who must be given the credit for all that the CBN has achieved. I would also like to acknowledge for the record, the foundation laid by my predecessor, Professor Charles Chukwuma Soludo, in a number of areas. The CBN Act, 2007, which he championed, established the CBN as a truly autonomous entity of the Federation, and made it possible for us to take the difficult decisions necessary for restoring and maintaining macroeconomic stability. The FSS 2020 and PSV 2020 documents provided the principal strategic roadmaps that led to many of the innovations in payment systems, non-interest banking, financial inclusion, the Asset Management Corporation, IFRS, Risk-based Supervision, and the like.

Indeed, it will be impossible for me to review almost five years of revolutionary change made possible by the work of thousands of employees in the CBN in collaboration with other Regulators, Banks and Other Financial Institutions and Government Ministries in this press statement. However, I will mention a few of the key highlights.

On monetary policy, the Bank has improved the institutional framework for policy-making. A properly constituted Monetary Policy Committee (MPC) with a clear mandate for maintaining stability has been established. The MPC has been supported by improvements in research, data and forecasting capacity, and we have also paid attention to clear communication of our objectives to the market. As a result, headline inflation has remained below 10 per cent since January 2013, from a peak of 15.1 percent and 13.9 percent in 2008 and 2009 respectively. Core inflation declined from 11.2 per cent in December 2009 to 7.9 percent in December 2013, while food inflation maintained a downward trend from 15.5 percent in December 2009 to 9.3 percent in December 2013. In addition to the conventional liquidity management products, the Bank approved financial products to manage liquidity in non-interest financial institutions. The CBN also promoted the formation of the financial Markets Dealers Quotations Over–the-Counter (FQDM OTC) Plc as a self-regulatory OTC operator.

In the area of safeguarding the value of the local currency and maintaining stability in the foreign exchange market for the overall sustenance of macroeconomic stability and growth, the CBN over the period has successfully maintained a stable exchange rate regime and a robust external reserve position conducive to sustainable growth and development.

On the Banking System, I was appointed Governor in the middle of a global financial crisis when the Nigerian banking system was on the verge of collapse. The Bank moved swiftly to remove the managing directors and executive directors of the banks where major corporate governance failures were discovered, provided liquidity support, pioneered the setting up of the Asset Management Corporation of Nigeria (AMCON) to purchase non-performing loans, recapitalize the banks and pilot a process that led to mergers and acquisitions, as well as recapitalization of all the weak and failing banks. As a result, all financial soundness indicators – Capital Adequacy, Asset Quality, Liquidity and Profitability ratios – were normalized. As a result of the work by the Bank, not a single depositor or creditor lost money in any Nigerian bank during or after the financial crisis.

In addition to the quantitative measures, we broke up universal banks and encouraged the setting up of specialized banks (including the first Non – interest Bank in the Country’s history), pushed for the adoption of IFRS and Basel 3, enhanced risk-based supervision, issued Competency Guidelines for the staff in the banking industry, established a Consumer Protection Department and developed a Financial Inclusion Strategy and Roadmap, among others for the CBN.

The Bank implemented policies aimed at reducing the excessive use of cash in the system to ensure safety, improve efficiency and curb money laundering. The transformation of NIBSS, the insistence on interoperability of channels, encouragement of electronic banking, the licensing of Mobile Money Operators, the Agent Banking and tiered-KYC frameworks have all led to rapid growth in volume and value of non-cash transaction and enhanced financial inclusion.

The Bank has played its leadership role in ensuring industry compliance with environmental sustainability and governance standards, including a strong focus on women and the handicapped.

The CBN in the last five years has taken a leading role in providing long-term low-cost funding to priority sectors of the Nigerian economy in a bid to help in bringing to reality the Transformation Agenda of the government of your Excellency. We have provided these funds at single-digit interest rates to micro, small and medium enterprises, as well as to companies operating in the power, aviation, and agricultural sectors of the economy, and also to large industrial enterprises with potential for structural transformation.

The Bank has invested in human capital, improved staff welfare and attracted and retained specialized skills in the areas of Banking Supervision, Information Technology, Shared Services and Risk Management.

On Financial Performance, the Bank has in the last five years kept a lid on overheads and cost of currency management. As a result, the Bank has continued to produce sterling results and contributed substantially to the Federal Budget. In the five years, 2009 – 2013, the Bank contributed N376 billion to the Federal Budget as Internally Generated Revenue (IGR).Based on 2012 financials alone, we paid N80 billion to the Ministry of Finance. On the basis of the 2013 results and at the request of the Coordinating Minister of the Economy (CME), we paid N159 billion to the Ministry of Finance in February this year; the same month the audited accounts of the CBN were approved by the Committee of Governors (COG). Indeed, due to the precarious position of Government finances, the CBN in February 2014, upon the request of the CME, gave the Ministry a further ‘Advance IGR’ of N70 billion in anticipation of 2014 profits.

May I add that, in 2008, the year before my appointment, the CBN contributed N8 billion to the Federation Account. Although the Bank is not a profit-centre, in the first four years of my term, the Bank alone contributed 75 percent of the total IGR paid by MDAs leading to commendation by the House Committee on Finance at several Public Hearings.

Recognitions
As a result of these achievements of my colleagues and staff, we received numerous recognitions consistently throughout my tenure from highly-regarded publications. These awards are based on a competitive process where analysts and economists rank Central Bank Governors across regions and the globe.

In 2010, The Banker Magazine, a publication of Financial Times in London, named me Best Central Bank Governor in the World and Best in Africa. At the Annual World Bank/IMF Meetings, Emerging Markets, a publication of Euromoney Institutional Investor named me Best Central Bank Governor in Sub-Saharan Africa for 2009, 2010 and 2012. The African Banker Magazine named me Best Central Bank Governor in Africa, 2012. This is in addition to being named Forbes Africa Person of the year 2011 and listed by TIME as one of the 100 most influential people in the world, 2011.

I have always regarded these honours not as personal accolades, but as a tribute to our nation and the committed and resourceful women and men of CBN.
Response to the allegations in relation to my suspension
On Wednesday 10th March 2014, I submitted a Memorandumto His Excellency, Mr President, with supporting documentation,effectively addressing all the allegations contained in the FRCN Briefing Note, the Letter of Suspension and the Akingbola Petition.

Having submitted my response to the President, I am further compelled, following the recent press briefing and comments by the Senior Special Adviserto the President on Media, as well as numerous other references to the allegations in both local, international and online media, to put to the public my responses, in the interest of transparency, accountability and my responsibility to the Nigerian people.Let me also state that I saw the FRCN “Briefing Note” for the first time when it was attached to the suspension letter. At no time was this report sent to the CBN either by the President or the FRCN for comments or explanations. As for the Akingbola petition, it is a rehash of baseless allegations he has been making since 2010 which apparently he must have been asked to reproduce on February 9, ten days before the suspension. It is indeed strange that the CBN Governor can be suspended based on allegations written by a man who ran his bank into the ground and against whom judgement has been obtained in a London court, and who furthermore is facing criminal prosecution at home for offences including criminal Theft.

A careful examination of the allegations contained in the FRCN Briefing Note to Mr President, will show that each of the allegations could easily have been resolved by a simple request for clarification or more careful review. There is no doubt that if the CBN had received the Briefing Note, which was prepared in June 2013, all the misconceptions, misrepresentations and erroneous inferences contained therein would have been cleared.

I am publishing these responses to enable the general public see that each and every allegation levelled against the CBN under my leadership is false and unfounded, and that many of the allegations were malicious and fabricated, having been designed to mislead the President into believing that the Management of the Central Bank was guilty of misconduct and recklessness.
Having provided detailed explanations, backed by verifiable documents, it is my sincere wish that His Excellency, Mr President, in line with his adherence to fairness and justice, will apply the same rationale and rigour to other agencies of the Federal Government that have had serious allegations and queries levied against them, and prevail upon them to provide responses and explanations with the same level of clarity and transparency.

In closing, I would like to place on record the dogged professionalism and patriotism of the staff of the CBN. They have, over the years, conducted themselves very creditably, and discharged their duties with the highest integrity.