Dear VOWB reader.........Planning the best for you!!!

Victor Omoshenni Williams' Blog is coming up soonest with latest advert from various companies, organizations and institutions........this is to promote their businesses and also for you my dear readers to get 1st hand information for goods and services that you need..................keep your fingers crossed!

PRESIDENT JONATHAN WILL BE THE BEST LOVED PRESIDENT IN NIGERIA EVER

can this be true?................or?

N5000 Banknote Coming in CBN Currency Review

The Central Bank of Nigeria (CBN) Thursday unveiled plans to restructure the naira, the nation’s currency, and introduce a new N5,000 banknote denomination into the economy.

Under the proposed new currency structure expected to be officially launched early next year, the existing denominations of N50, N100, N200, N500 and N1,000 are to be redesigned with added security features.

The N1,000 that is the current highest denomination, was introduced into the economy on October12, 2005.
Similarly, the lower banknote denominations of N5, N10 and N20 will now be coined.

CBN Governor, Mallam Sanusi Lamido Sanusi, who unfolded the plan at a press briefing in Abuja, added that 12-new-currency structure would emerge at the end of the exercise, code-named "PROJECT CURE".
These would include 50K, N1, N2, N5, N10 and N20 in the coin category, while N50, N100, N200, N500, N1000 and N5000 will be bank notes.

Sanusi said the introduction of a higher bill would aid the apex bank's cashless policy drive as well as lead to the modernisation of the economy as it would lead to reduction in the volume of currency-in-circulation in the long term.

He described the move as a "befitting currency structure" which would effectively facilitate economic activities in the country.

However, amid concerns that a higher denomination bank note could further worsen inflation, the CBN governor said economies with higher bank note values have had lower inflation rate as at 2010.

He said: "It has been argued that the introduction of a higher denomination bank note could exert inflationary pressure on the economy...inflation in Nigeria is a monetary phenomenon. Secondly, in some countries such as Singapore, Germany and Japan, the highest denominations are 10,000 SGD, €500 and Yen 10,000 respectively.

These denominations have relatively high dollar equivalent. The levels of inflation are, however, low at 2.8, 1.1 and -0.7 as at 2010."

Sanusi, who said the new currency had been approved and designed, also gave out some features expected in the coming N5,000 note that will celebrate the achievements of women by capturing images of Margaret Ekpo, Funmilayo Ransome-Kuti and Hajia Gambo Sawaba in the front of the currency.

According to him, the image of the National Assembly is captured on the back of the note.

He said, however, that the introduction of the new currency series would be gradual as the bank notes would circulate simultaneously along with the old series until they were completely withdrawn from circulation. 

He said: "There would be no urgent need for exchange of the old for the new bank notes by the general public for as long as the old banknotes are in circulation; they will remain legal tender."

Sanusi further explained that the impending review was targeted among other things to incorporate a more effective feature for the visually-challenged; introducing new security features on the redesigned banknotes, and to introduce a new set of coins that would be generally acceptable for transactions.

Number plate: Transport unions seek policy reversal

Osita Chidoka

Transport unions in the country have resolved to write to the National Assembly for the cancellation of the new driving licence and number plate policy.

They also crave for a return to the old order and want the Federal Road Safety Corps to hand over the processing of the two items to states’ Vehicle Inspection Offices to enable the corps concentrate fully on the task of highway patrol and accident prevention.

Our correspondent reliably learnt on Tuesday that the resolutions were taken after a joint meeting of the unions in Abuja on the contentious issue last week.

The President, Road Transport Employers Association of Nigeria, Mr. Femi Ajewole, who confirmed this to our correspondent on Tuesday, said the unions were also mandated to send their positions on the issue as memos to the National Assembly on Thursday (tomorrow).

The FRSC introduced the new driving licence in 2011 with new features and a price tag of N6,000. The new number plate also came on board almost at the same time, which the corps said would facilitate the establishment of a national data bank.

Haley Barbour on Obama: ‘He’s a one percenter’

Former Mississippi Gov. Haley Barbour was holding court at a private party before the Republican National Committee Sunday, where he called President Barack Obama "a one percenter," and urged a group of conservative bloggers to rally behind Mitt Romney even though he's "not perfect."
"We've got two guys running for president, by the way, who are both very rich. Each one of them is in the top one percent in the United States." Barbour said during an event for the National Bloggers Club in Tampa. "Both of them are one percenters. And in fairness, both of them made their own money. Romney made his by winning the confidence of people who invested their money. …Obama made his money writing two books about himself. He's a one percenter!...Which one do you figure is going to do a better job of getting our economy going in the right direction?"
Indeed, both men are in the "top one percent" of income earners, although Romney's net worth is about 20 times greater than Obama's. Romney and Obama are worth around $200 million and $12 million, respectively.
During his talk, Barbour also argued that conservatives need to look passed Romney's moderate record as governor of Massachusetts.
"Mitt Romney's not as conservative as I am. It's a fact," Barbour said. "But the difference between him and Obama in terms of their vision, their plan, their policies, their belief in the history and the fundamental principles of America are the greatest difference of any two presidential candidates in my lifetime. …It behooves us to make sure Romney wins."

NITEL: FG to pay N350bn debt from liquidation proceeds

The Federal Government is counting on using the proceeds from the guided liquidation of the Nigerian Telecommunications Limited to repay the moribund national carrier’s N350bn liabilities, a source at the Bureau of Public Enterprises told our correspondent on Monday.

The BPE had last year said the Federal Government  was considering a new liquidation strategy to dispose of NITEL, should the reserve bidder, Omen International, fail to pay the $105m bid security by Friday, June 17, 2011.

Following the failure of Omen to pay the bid security fee, however, the Federal Government was left with no other option but to begin another process of solving the NITEL privatisation debacle by recently approving the guided liquidation strategy.

In view of this, the BPE source said the objective of the guided liquidation as recently approved by the Federal Government was to pay the company’s liabilities.

The source said, “The objective of the guided liquidation strategy is to use the proceeds to pay all debts owed by NITEL.

“The company’s exposure currently stands at about N350bn. The company will eventually be wound down after the liabilities are settled.”

Recalling the protracted issue surrounding NITEL’s privatisation, the source said, “That is why government should not run any business because it fail and will incur huge debts as it did with NITEL.”

The source stated that the government might sell the company in bits if it failed to attract a lump buyer, reiterating that the essence was to use the proceeds of the sale to settle the company’s outstanding liabilities.

The company’s total liabilities amounted to N73.8bn in 2003, but rose in October 2005 to about N130bn. It has since increased to about N350bn, according to the BPE source.

The President, Association of Licensed Telecommunications Operators of Nigeria, Mr. Gbenga Adebayo, advised the government to unbundle NITEL and make it more attractive to players in the industry.

“It may be difficult to find one buyer for NITEL as a single entity. No one wants to inherit NITEL, it is too big. We believe that if NITEL is unbundled, it will make it more attractive to players,” he said.

According to Adebayo, government should allow different buyers to acquire the mobile arm and other units such as the backbone, fixed line and international gateway, among others.

The President, Association of Telecommunications Companies of Nigeria, Mr. Titi Omo-Ettu, also advised the Federal Government to protect the First National Operator licence that NITEL holds in the process of the guided liquidation.

NITEL’s privatisation journey has been very long and tortuous. In 2001, Investors International London Limited attempted to acquire the company but defaulted in paying the bid price of $1.317bn and thereafter forfeited the opportunity.

This was followed by Pentascope of Netherlands, which was appointed to revamp NITEL but failed to do so.

Orascom also attempted to acquire NITEL with $256.5m, but lost the bid to Transcorp, which paid $500m for the troubled telecoms firm.

Transcorp’s acquisition of NITEL in 2006 appeared very successful in the beginning but later went awry.

The New Generation Consortium, which emerged the preferred bidder for the company, also failed to pay the $750m (30 per cent) security fee on its $2.5bn bid. It was eventually disqualified, paving the way for the reserve bidder, Omen International, to acquire the firm.

But Omen too failed to meet the financial obligation despite an extension of the payment schedule.

PDP Denies Anointing Candidates For 2015

Media reports on the endorsement of certain candidates of the People’s Democratic Party (PDP) are false, chairman of the party, Alhaji Bamanga Tukur said.
He stated that PDP’s current concentration is on delivering the gains of democracy to the people and not “premature” endorsements of candidates for elections that are still three years away.

“My attention has been drawn to media speculations that our party, the People’s Democratic Party (PDP), has anointed aspirants ahead of general elections in 2015,” Tukur said in a press statement he personally signed.

“This information is speculative and completely false. I, therefore, use this medium to call on party members, supporters and all Nigerians to disregard sensationalism, as we move quickly to carry out reforms that will justify our existence as a ruling party. This allegation is false and our party has not anointed any persons for any position.

“For the time being, the party’s attention has been devoted to critical reforms that will guarantee quality life to our people, reconciliation in all aspects of our political life and instilling internal democracy in our political process.

While we appreciate the concern and goodwill of the Nigerian people, we acknowledge the fact that reforms in any country come with pains, anxiety and apprehensions. This is a necessary sacrifice confronting us as a nation today. This apprehension may have been responsible for the preemptive speculation of pre-mature endorsement of aspirants ahead of the 2015 elections.”

Enjoining all Nigerians to make meaningful contributions towards the political, economic and social development of the country, Tukur said the PDP is “presently preoccupied and committed to fulfilling its electoral mandate, and, as such, has no time for the politics of 2015.

“The need for rapid infrastructural development and the welfare of our people is, and will be our major concern in the years ahead,” he added, promising that the ruling party would not misplace the confidence of the electorate it enjoys.

Ten Die In Ogun Car Accident

An auto crash involving a commercial bus and an articulated vehicle at Obada-Oko in Ogun State has resulted in the instant death of 10 people, and serious injury to a lone survivor who is still in critical condition.

According to Mr. Fatai Bakare, the Itori Unit commander of the Federal Road Safety Commission (FRSC), the accident occurred along the Abeokuta-Lagos Expressway at about 12 midnight, after the two vehicles collided head-on.

He gave the registration number of the bus as LAGOS CZ 269 MUS, and that of the articulated vehicle as LAGOS 208 XB.

“The corpses of all the deceased have been deposited at Federal Medical Centre (FMC) Abeokuta and Ifo General Hospital. The only survivor is critically injured and receiving treatment at FMC,” he said, further warning motorists on the importance of keeping to their lane while on the highway, as this would help to prevent future reoccurrences of the fatal crash.

Nigerians, Media Are Fools, My Wife and I Deceived Them--K-Solo

It was a rude shock to some Nigerians when they got to know that the alleged wife battery saga between K-Solo and his wife, Kikelomo only turned out to be a scripted drama.

Last year, after Nigeriafilms.com published City People's interview with Kikelomo where she alleged an assault on her by K-Solo. The story became an item, which made headlines.

In an interview with Galaxy TV, which was aired over the weekend, K-Solo opened up on the allegation where he confessed that the whole drama was a script to create publicity for his new album.

He said showbiz is about publicity and that was what he did in collaboration with his wife about the saga. When the presenter insisted he calls Kike to confirm this in her (presenter) presence, K-Solo put a call through and his wife simply said there was no fight between her and K-Solo. He said Kike was costumed in the pictures to make the assault story look real.

Will Nigerians ever believe Kike if in future, she cries out of any physical assault on her by K-Solo? What are the implications of this to K-Solo's career especially with this revelation? Was this the best publicity stunt to pull? These are few of the questions begging for answers......

 Now the question is 'Who is the bigger fool?'

African Union Troops Capture Marka

MOGADISHU, Somalia, August 28, 2012/African Press Organization (APO)/ -- Somalia troops with the assistance of the African Union Mission Troops, have this morning pushed Al Qaeda-affiliated terrorists out of Marka, the third-largest port in Southern Somalia.

The dawn operation met little resistance as the AMISOM and Somali National Army troops steadily advanced to Shalamboot and established a defensive position there.

Located 90 kilometres south of Mogadishu, Marka has been under the brutal rule of the extremists since November 2008. In recent months, many of the al Shabaab's top commanders have been fleeing towards the town following a string of defeats by the allied forces. The capture of Marka is also critical for AMISOM future operations to liberate the city of Kismayo, the extremists' largest source of illicit revenue.

This important achievement comes at a critical time for Somalia as the country's newly inaugurated Parliament prepares to elect a Speaker and President for the country, and bring to a close 12 years of transitional governments.

AMISOM Force Commander, Lt. Gen. Andrew Gutti, said the capture of Marka would enhance security across Somalia by denying the terrorists a base from which to launch attacks.

“AMISOM is committed to supporting the peace process in Somalia and this operation will not only bring relief to the population in Marka, but will also help in the liberation of Kismayo,” he said. “Our aim is to ensure that all the people of Somalia can freely participate in the process of national reconciliation,” he added.

He also urged the population to remain calm and asked for their cooperation as AMISOM continues to consolidate security within the town.

This leaves Jowhar, 90 kilometres to the north of Mogadishu, as the last remaining stronghold of the extremists in the regions of Banadir, Lower and Middle Shabelle which comprise Sector 1 of AMISOM area of responsibility.

Since the UN Security Council boosted AMISOM troop numbers to over 17,000, the force has been expanding outside Mogadishu and has helped the Somali government by providing a secure environment and recovering more territory, as well as ensuring law, order and justice.