Nigerian Constitution Amendment Wahala

There was pandemonium yesterday at the Senate as the upper chamber of the National Assembly yesterday rejected a National Assembly Journal containing a Bill for an Act to Amend the Constitution of the Federal Republic of Nigeria, 1999 (Second Publication), which proposed a three terms of four years each for governors.

The first journal circulated to senators did not contain a proposal for the amendment of Section 182 and this had created cracks in the ranks of proponents of three terms of four years each for President Olusegun Obasanjo and state governors. There were, however, indications that Obasanjo mandated the President of the Senate, Chief Ken Nnamani, to ensure that Clause 182 of the proposed amendment was restored into the bill. See here for more details

Protesters Stone Obasanjo’s Convoy in Kano

On its way to Jigawa State enroute from Kano, the convoy of President Olusegun Obasanjo yesterday ran into hundreds of protesting youths who hauled missiles at it in the ancient city. But in Jigawa, the president, while responding to a praise singer who urged him to damn the constitution and accept to rule for another 12 years, said he had no hand in such matters. The Kano incident had precipitated a violent clash between the supporters of All Nigeria People Party (ANPP) and the rival Peoples Democratic Party (PDP), resulting in the destruction of about 70 vehicles while the stone-throwing youths chanted anti Obasanjo slogans. The supporters of both political parties were seen wielding dangerous weapons, which they also used to smash the windscreens of any vehicle that carried the posters of a rival party. It took the intervention of the security personnel to control the situation at Kofar Nasarawa at the heart of Kano metropolis when the warring youths engaged themselves in a skirmish. Consequently, some people suffered various degrees of injuries. Obasanjo was on his way to Kazaure, Jigawa state where the governor, Alhaji Saminu Turaki, received a traditional title of Turakin Kazaure.

Zenith Bank Becomes the first Nigerian Bank to Handle Nigerian Government Foreign Reserves

Zenith International Bank Becomes the first Nigerian Bank to Handle Nigerian Government Foreign Reserves .

When i first heard that zenith bank was going back to the capital market for more funds - i told my friends then that Zenith was all out to get their hands on the Federal government foreign reserves. I came to this conclusion when i heard that the CBN announce that any Nigerian Bank that has 1,000,000,000 US Dollars ( about 129,000,000,000 Naira) will be given 500,000,000 US Dollars to manage.

Now Zenith Bank Plc, in partnership with JPMorgan Chase, a United States-based leading global financial services firm, has been appointed as the first global custodians of Nigeria's foreign reserve which is projected to grow to about $50 billion by end of the year.

Way to go Zenith, i pray others Nigerian banks should do the same so that Nigerian banks can finally play their role in the African Financial scene.

Uphill Battle For 3rd Term As National Assembly Decides

While going through my the Website of Thisday Newspapers i came across this headliner -

Uphill Battle For 3rd Term As National Assembly Decides ... More members enlist in opposition camp.
An uphill battle appears underway over the move to elongate the tenure of President Olusegun Obasanjo beyond 2007 as the National Assembly reconvenes on Tuesday in Abuja to commence the second reading of the 1999 Constitution Amendment Bill 2006. The bill seeks to amend some sections of the constitution including the present two terms of four year each tenure for President.
Also, there are indications that more Senators and House members are abandoning the pro-3rd term camp to join forces with the group opposed to the idea. But there were indications on Saturday that the pro-third term legislators are set to make some adjustments to the contentious amendment bill.

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Ronaldinho - A legend in the making...

Ronaldinho - A legend in the making...

While going through Nairaland today i saw this link showing pictures and videos of the world's best footballer in action. Enjoy

Ronaldinho