Resolution in talks to sell Malaysia JV stake

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LONDON: British life insurer Resolution on Tuesday said it was in talks to sell its stake in a Malaysian joint venture as part of an overhaul aimed at cutting costs and boosting returns to shareholders.

The company is discussing a sale of its 30 per cent stake in Amlife Insurance Berhad and AmFamily Takaful Berhad back to its joint venture partner, Malaysian lender AmBank Group, Reuters quoted it as saying.

A spokesman said the planned sale formed part of a previously-announced effort by Resolution to streamline its operations and increase cash generation.

The company, created to buy and merge underperforming life insurers, earlier this year called a halt to takeovers and said it would focus instead on squeezing savings out of its existing assets, which include life insurer Friends Provident.

Resolution said its joint venture stake had an embedded value — an industry measure denoting the present value of expected future earnings from life insurance policies — of £38m ($61.00m) as of June 30.

Resolution shares were up 0.3 per cent at 1315 GMT, underperforming a one per cent increase in the FTSE 100 share index.

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Police parade two suspected killers of UNIPORT students

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The police in Rivers State on Tuesday paraded two of the suspected killers of four students of the University of Port Harcourt.

The two suspects – David Chinasa Ugbaje and Ikechukwu Louis Amadi – were allegedly part of the mob that stripped, tortured and killed Lloyd Toku, Ugonna Obuzor, Chiadika Biringa and Tekena Erikena before setting them ablaze on October 5, 2012 in Omuokiri Aluu community.

The suspects, who were paraded in Port Harcourt, are expected to be arraigned on Wednesday for the murder of the students.

The police are still on the trail of a student of UNIPORT, Coxson Lelebori, who incited the mob to attack the students when they came to his house to collect a debt he was owing one of them.

More details later.

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Kalakuta Republic Museum In Honor Of Late Afro-Beat Legend Fela Anakulapo-Kuti Opens In Lagos - Photos

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The late Afro-beat Legend, Fela Anakulapo-Kuti memory still lives on as his home turned into a museum,which has been renamed ‘Kalakuta Republic’ Museum on Gbemisola Street, Ikeja, Lagos State Southwest Nigeria, was formally opened today.
The opening ceremony was part of the ongoing Felabration 2012 was performed by Yeni Kuti and an official of the Lagos State government.
The event was tagged soft opening, according to Fela’s daughter, Yeni Kuti.
The museum consists of his bedroom, sitting rooms, photographs, with over 3,000 of Fela’s clothes on display.
She said the hotel and other aspects of the museum will be commissioned later.
The building was painted in white colour.

We are prepared for any emergency – LASEMA

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Lagos State Emergency Management Agency on Tuesday said that it was prepared for any emergency arising from flooding in the state.

LASEMA General Manager, Dr. Femi Oke-Osanyintolu, gave the assurance in an interview with the News Agency of Nigeria in Lagos.

He said the state had scaled through the heavy rains without experiencing serious flooding, due to the early preparations and the measures put in place to combat it.

“We are prepared for emergencies as we’ve  learnt from the past to prepare for the future.

“The agency has put in place adequate measures to reduce the incidence of flood.

“We have ensured continuous dredging of canals, construction of new primary, secondary and tertiary canals.

“Our preparedness has yielded results.

“Lagos State is not experiencing flooding, in spite of the fact that we are in the coastal region,” he said.

He said that LASEMA was working with engineers in all the 20 Local Government Areas and 37 Local Council Development Areas, to mitigate the effect of the flood.

Oke-Osanyintolu, however, advised Lagos residents to desist from blocking canals with refuse.

He asked them to contact the residential engineers at their respective local governments, for any flooding.

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Concern over rising numbers of hungry people on World Food Day

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Global concern is rising over the growing number of hungry persons as nations celebrate World Food day today October 16.

“It is a day designed to raise awareness about all the starving people in the world and create solutions to end world hunger once and for all,” says Yahoo!News.com.

“World Food Day was proclaimed in 1979 by the Conference of the Food and Agriculture Organization (FAO). It marks the date of the founding of FAO in 1945. The aim of the Day is to heighten public awareness of the world food problem and strengthen solidarity in the struggle against hunger, malnutrition and poverty. In 1980, the General Assembly endorsed observance of the Day in consideration of the fact that “food is a requisite for human survival and well-being and a fundamental human necessity,” says the United Nations.

The day is being marked at a time when the UN says one in eight people worldwide still suffers from chronic hunger.

UN organ, the Food and Agricultural Organisation, describes the figure as “unacceptable” and warns that the fight against hunger is slowing down.

“With almost 870 million people chronically undernourished in 2010-2012, the number of hungry people in the world remains unacceptably high,” FAO said in its 2012 report on food insecurity.

The latest figures show that 12.5 percent of the world’s population, or one person in every eight, has yet to be relieved of chronic hunger, it said.

To mark the day, Nigeria’s Minister of Agriculture, Dr. Akinwunmi Adesina, in a statement urged smallholder farmers to strengthen cooperatives to enable them to access funding and markets, the News Agency of Nigeria reports.

He said the Federal Government had recorded 3.9 million farmers on its database and had reached one million farmers directly with seeds and fertilisers.

Noting that this had ended 40 years of corruption in Nigeria’s agricultural sector, adding that farmers would get 10 million cell phones next year.

Five million of the phones will be given to women farmers to facilitate access to agricultural information.

He also dispelled fears that the flood disaster recorded in recent weeks in parts of the country would lead to food scarcity or famine.

Adesina gave the assurance that the Federal Government had mapped out strategies to address the challenge.

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Wanted 'Debtor' Who Set up Aluu 4 Has Been Arrested

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The Rivers State Command of the Nigerian Police Force has just announced the arrest of the wanted Prime Suspect in the killing of the Aluu 4. Coxson Lelebori Lucky, alias 'Bright', a student who owed the Aluu 4 some money had set them up to be killed by raising a false alarm to the community that they were armed robbers according to the police. He subsequently took to his heels when investigations confirmed his involvement in their barbaric murder. He was declared wanted yesterday and was arrested only hours ago in Port Harcourt.

Aluu-4 were NOT armed robbers, they were set up - IG of Police.

ALUU4: How Vigilante Overpowered Police AT The Scene, Names Of Arrested Suspects.

UNIPORT Students Burnt Alive: Fresh Crisis Brews In Aluu Community.

UNIPORT Killings: Policemen said they should burn them alive - Tekena’s sister.

REST IN PEACE ALUU 4. A MUST READ.

REAL FACTS BEHIND THE KILLINGS OF THE FOUR UNIPORT STUDENTS AT ALUU COMMUNITY IN PORT-HARCOURT.

ALUU-4 SLAUGTERS APRENENDED: It Was All A Prank! Pictures.

PHOTO: Face Of One Of The UNIPORT Students Murderers..Aluu 4

 

Today is World Boss’ Day

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Today is World Boss Day, set aside for employees to “recognize those in supervisory positions. Popular ways to say “thanks” include cards, a lunch in the boss’s honor, flowers, or gift certificates,” according to Wikipedia.

Boss Day is a secular holiday celebrated on October 16 and has traditionally been a day for employees to thank their bosses for being kind and fair throughout the year.

“It was started in 1958 when Patricia Bays Haroski, then an employee at State Farm Insurance Company in Deerfield, Ill., registered the holiday with the Chamber of Commerce of the United States. She designated October 16 as the special day because it was her father’s birthday.

“Ms. Haroski’s purpose was to designate a day to show appreciation for her boss and other bosses. She also hoped to improve the relationship between employees and supervisors. She believed young employees often do not realize the challenges bosses face in running a business.

“National Boss’s Day has become an international celebration in recent years and now is observed in countries such as Australia, India, South Africa, Ireland, the UK, and Egypt. Note that Egypt celebrates their equivalent holiday on 10 December every year,” says Wikipedia.

 

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Flood: Justice Tabai to head funds management committee in Delta

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Delta State Governor, Emmanuel Uduaghan, has named named Retired Supreme Court Justice, Justice Francis Tabai, as the chairman of the committee to manage the N500 million flood disaster grant allocated to the state by the Federal Government.

Announcing this at an interactive session with newsmen in Asaba, Uduaghan said that Tabai was selected was selected because of his decision to have someone outside the government as chairman of the committee, the News Agency of Nigeria reports.

He said that the committee, which includes representatives of the Nigeria Medical Association, Nigeria Bar Association and the Nigerian Union of Journalists would also manage funds from other sources.

“The committee will appraise the flood situation in the state and advise the government on how to channel the fund.

“It will also work out ways of resettling the flood victims post-camp and provide the government a detailed post-camp plan,” he said.

He said the full membership of the committee would be announced before the end of the week.

He debunked as “reckless” rumour making the rounds in the state that women were being raped and items stolen by thieves in the camps, especially the one in Ughelli.

The governor said that adequate security had been provided at the camps and stressed that no case of rape or other vices had been reported from any camp in the state.

He, therefore, appealed to the media and the public not to politicise the flood issue or be mischievous about it, adding, “What we have on our hand is a serious problem. People sacked from homes and communities where they had lived all their lives and people having their means of livelihood wiped out with some losing dear ones in the process is just not an issue of politics or mischief.”

He disclosed that seven persons had been officially reported dead in the flood disaster in the state.

According to him, the deceased included a community leader, a 23-year-old mother of three, and an eight-year-old girl.

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Rivers State Commissioner For Power, Augustine Wokocha Kidnapped

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The commissioner in charge of power, Augustine Wokocha, was kidnapped over the weekend.

Police sources told Saharareporters that Mr. Wokocha was kidnapped with the librarian of the Federal College of Education (Technical), Omoku in Ogba/ Egbema/Ndoni local government area. Also, kidnapped was Dr. R F Quadri and the school's director of Academic Planning and Statistics, Dr. Richard Ihua Maduenyi.

The commissioner was kidnapped as he was returning from Ahoada town some 35 miles from Port harcourt the Rivers state capital. Family sources stated that Wokocha was seized around 6:30 PM on Ahoada-Omoku road in the state.

 A police source said the kidnappers are yet to make any demands for ransom. The governor of Rivers state Rotimi Amaechi has reportedly suppressed the kidnap story from getting any media attention in the state.

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Aluu-4 were NOT armed robbers, they were set up - IG of Police

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The Inspector General of police, Mohammed Abubakar, said today that the four UNIPORT students lynched by a mob in Aluu on 5th October, were not armed robbers.

In a statement released by the IGP today, he said investigations conducted by the police so far revealed that Tekena, Llyod, Ugonna and Chiadika had gone to Aluu that morning to demand for money allegedly owed to them by a guy named Coxson Lelebori Lucky, also known ‘Bright’, and it was Bright who raised a false alarm that they were armed robbers. And you all know what happened next..they were all brutally killed. 

The IGP also said in the statement that Coxson/Bright has disappeared, but promised to track him down. The statement mentioned 4 suspects as being directly involved in the killing. They are: Chigozie Samuel Evans, Felemo Solomon, Cynthia Chinwo, and Ozioma Abajuo. They said the Aluu community chief, Alhaji Hassan Welewa was the one who incited the mob to unleash terror on the young boys.

ALUU4: How Vigilante Overpowered Police AT The Scene, Names Of Arrested Suspects

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The police have now admitted to being present at the scene of the gory murder of 4 UNIPORT students in ALUU village, the police claim the locals overpowered them and had brutally murdered the boys before they could go to their stations to get extra men for backup (No communication??). Anyway the did has been done, here are names of those arrested so far:

VIDEO: Mom Sentenced to 99 Years in Prison for Beating Child

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A Dallas judge today sentenced Elizabeth Escalona to 99 years in prison for beating her 2-year-old daughter into a coma and gluing her hands to a wall because of potty-training problems. Escalona, 23, had pleaded guilty in July to a felony count of injuring a child and admitted earlier this week to abusing daughter Jocelyn

Nollywood Actor, Nkem Owoh Battles Widow Over Land

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A secondary school teacher, Mrs. Gloria Ayogu, on Sunday said she would consider legal actions against Nollywood actor, Nkem Owoh, popularly known as Osuofia, if he failed to pay damages for allegedly demolishing her house in Enugu State.
Ayogu, a widow and an employee of Federal Government College, Enugu, has since 2008 been at war with Owoh over a piece of land at 9, Ikpeama Street, Emeheluaku Layout, Trans-Ekulu in Enugu metropolis.
The widow said she had long reported the case to the police and vowed to see the matter to the end.
She said her late husband bought and registered the landed property before he died in 2004.

She claimed, “Osuofia and his thugs appeared in 2008 and threatened me for four years against building on the land.”

Nigeria worst performer among African powerhouses – Mo Ibrahim Index

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Mo Ibrahim, founder, Mo Ibrahim Foundation
| credits: dailypost.com.ng

Nigeria, again, got a poor rating in the 2012 Ibrahim Index of African Governance, published on Monday by the Mo Ibrahim Foundation.

The country was scored low in human rights, political freedom, transparency and accountability.

Other African countries that got the bashing of the foundation were South Africa, Kenya and Egypt.

This information came as the Mo Ibrahim Prize committee announced that none of the continent’s recent former leaders won the £3.2m award for “excellence in African leadership” set up by Sudanese-born billionaire, Mo Ibrahim, in 2007.

In the rankings by the Foundation, the four countries performed woefully in safety and rule of law, and participation and human rights – two of the four categories used in assessing good governance across the continent.

For Nigeria to grow

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Nigeria’s 52nd independence anniversary celebration has come and gone. It was the second year in a row that a low-keyed celebration would take place within an over-fortified Aso Villa. Regardless of the government’s excuses, everyone knew that security threats were largely responsible for its action. Besides, a highbrow celebration would have raised questions as what exactly was being celebrated.

A dominant theme in the post-anniversary analysis is lamentation over Nigeria’s lack of growth despite abundant oil resources and highly skilled professionals in all fields of human endeavour. How could a nation that loaned its professionals to other African

UNIPORT Students Burnt Alive: Fresh Crisis Brews In Aluu Community

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Fresh crisis may erupt in Omuokiri-Aluu, Ikwerre Local Government Area of Rivers State, where four students of the University of Port Harcourt (UNIPORT) were murdered on October 5.

UNIPORT students are believed to be planning more attacks on Omuokiri-Aluu, in spite of the closure of the university following Tuesday’s violent protest. Besides, it was learnt yesterday that some ethnic groups in Rivers State, where the victims hailed from, were gearing up to avenge the murder.

Omuokiri-Aluu is still deserted, with policemen massively deployed in the area, to prevent a likely breakdown of law and order.

Two of the lynched students hailed from Okrika in Okrika Local Government Area of Rivers State, where First Lady Jonathan hails from.

Liberal poll numbers climb over NDP as leadership starts

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Focus on the Liberal leadership race appears to have breathed new life into the party, even if the race doesn't officially begin until Nov. 14, a new poll shows.
A Nanos Research survey reveals the Liberals have picked up almost six points over the Opposition New Democrats in the past month, and are edging the NDP for overall support for the first time since April 2012.
The new poll shows support for the Conservatives remains steady at 33.3 per cent, with the Liberals at 30.1 per cent, the NDP at 27.9 per cent, the Bloc Québécois at 4.7 per cent, and the Green Party at 2.9 per cent.
The telephone survey of 1,000 Canadians was conducted between Oct.4-11 and is considered accurate within plus or minus 3.1 percentage points, 19 times out of 20.

Fuel subsidy fraud: FHC denies Uba, others bail

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A Federal High Court in Lagos on Monday denied a motion ex-parte filed on behalf of the Chief Executive Officer of  Capital Oil and Gas Ltd., Mr. Ifeanyi Uba, and four others, seeking their release on bail.

Mr. Joseph Nwobike (SAN), counsel to the applicants, in the bail application, argued that the action of the police Special Fraud Unit in detaining his clients since October 9 was a violation of their fundamental rights.

According to him, the action of the respondents is reprehensible, barbaric and a clear contravention of Section 36 (4) (5) (a) (b) of the 1999 Constitution of the Federal Republic of Nigeria.

Uba, Nsika Usoro, Godfrey Okorie, Chibuzor Ogbuokiri, and Joseph Orji,, were on October 11 arraigned by the SFU over an alleged N43.29 billion fuel subsidy fraud.

The SFU had accused the men of economic sabotage, obtaining money by false pretences, stealing of N43.291 billion, property of the Federal Republic of Nigeria, money laundering and forgery.

The four other defendants are employees of Capital Oil and Gas.

The defendants, who appeared before Magistrate Martins Owumi of a Tinubu Magistrates’ Court in Lagos, were ordered to be remanded in SFU custody for 14 days.

In his ruling, Justice Okon Abang declared that the order sought by the defendants was not possible in law.

According to him, it will be just to hear the respondents before taking any decision on the issue of bail.

Citing Order 26 Rule 10 of the Federal High Court Procedure Rules, Abang also converted the ex-parte application to a Motion on Notice, and ordered that hearing notices be served on the respondents.

Abang also ruled that the respondents were at liberty to file their responses to the converted motion on or before 12 noon Oct. 16, and that the application would be argued without fail on that date.

The case was adjourned to October 16 for continuation of hearing.

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NLC, TUC back Mimiko’s re-election bid

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Chairman of the Ondo State chapter of the Nigeria Labour Congress, Mrs. Bosede Daramola, said in Akure on Monday that workers and artisans across the state would lead the rally for the second term bid of Governor Olusegun Mimiko.Daramola told journalists in Akure that on Tuesday, October 16, 2012, both NLC and TUC would “celebrate Mimiko for flying the Labour Party flag higher and for making the workers proud in terms of workers’ welfare which is unprecedented in the history of Nigeria.”

She said the NLC would lead over 120 leaders of all industrial unions under its congress while the TUC would lead over 38 leaders to the rally which would hold simultaneously with the LP mega rally in Akure at the same venue.

She enjoined all workers’ unions in the state, artisans and lovers of democracy and good governance to come out and join the rally for Governor Mimiko’s re-election.

The rally will be the third to be held in support of Mimiko by workers in the last three months.

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Five clubs in chase for Ashley Cole

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Ashley Cole is prepared to begin contract talks with up to five interested foreign clubs in January if an agreement is not reached to end his contract deadlock with Chelsea.

Cole, 31, is hoping that Chelsea owner Roman Abramovich can be convinced to change his policy of only offering one-year deals to players over 30, with the England defender having already rejected the prospect of a short-term extension, ESPN reports.

There are no new talks planned imminently, but the two parties will meet again before Christmas in a bid to end the stand-off.

There is no fall-out or rift between Cole and club chiefs over the negotiations, with the former Arsenal star remaining “calm and collected” over discussions and viewing the option of talking to other clubs as a last resort.

Cole would like to end his career at Stamford Bridge and could be convinced to settle for a two-year-deal if it was offered.

If an agreement cannot be reached, Cole may reject the opportunity to sign a pre-contract agreement in January and wait until the summer before finalising his future in a bid to convince Chelsea that he is deserving of his demands.

Didier Drogba adopted a similar approach last season before quitting for Shanghai Shenhua

A similar situation faces Frank Lampard, 34, but while the midfielder might be tempted to stay on a year-to-year deal rather than take up a lucrative offer in the MLS, Cole is not willing to consider such an option.

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