4,000 Osun varsity students risk expulsion over non-payment of fees (Read full details)

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students. PHOTO: bellanaija.com

About 4,000 students of Osun State University may be expelled for failing to pay their school fees before the February 28, 2017 deadline set by the authorities of the institution.

The affected students may also miss the first semester examination scheduled to begin on March 6.

The management of the university disclosed this in a statement by the Corporate Affairs Unit yesterday.

According to the statement, as at Saturday, 4,410 students were yet to fulfill this obligation 48 hours to the expiration of the deadline.

The institution’s management set a deadline for payment of school fees when it discovered that many students had not done this, adding that the development has affected the smooth running of the system.

The Guardian learnt that many of the affected students owe the university school fees between two and more semesters. Some of them were alleged to have collected the money from their parents and “invested” it in the failed MMM Ponzi scheme or diverted same to other purposes.

The statement claimed that some concerned parents and guardians of the defaulting students have been making calls to the university’s phone numbers to report that they had given the money to their children.

The university, however, advised students who cannot meet up with the deadline and do not want their admissions terminated to apply to the school authorities to grant them leave of absence for the current semester with a sworn affidavit, pledging to pay before resumption.

The new Vice Chancellor, Prof. Labode Popoola raised the alarm over the issue recently. He said the institution was being owed a backlog of school fees of about N2 billion by students

In a bid to save the institution from financial crisis, the management warned all returning students upon resumption of 2016/2017 academic session that it would no longer tolerate non-adherence to the deadline for payment of fees and course registration as contained in the university calendar and students handbook.

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Accolades, knocks greet new forex policy (Read full details)

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CBN

Ex- Bank Chief Calls For More Devaluation Of Naira To Attract Inflow Of Forex

Commendation and knocks have continued to greet the recent new foreign exchange (forex) policy rules introduced by the Central Bank of Nigeria (CBN) as part of measures to streamline the market and ensure pressure is taken off the Naira.

While some experts have commended the apex bank for what they described as a ‘bold step’ capable of addressing the forex crisis in the country, others reasoned otherwise, suggesting that the new rule would rather create opportunity for the banks and some individuals to enrich themselves through round-tripping at the expense of the country’s foreign reserves, which has just resumed growth after a long period of decline.

As a fall-out of last Monday’s CBN announcement of the new policy, the naira has regained value, particularly at the parallel market gaining about 25 kobo against the United States dollar as the exchange rate of the two currencies fell from N520/$1 the previous week to a new level of N455/$1 at the segment of the market as at yesterday. However, the inter-bank exchange rate remained same at N305/$1 throughout the period.

However, economists and major stakeholders in the forex market have reacted to the new policy differently, with all of them agreeing a sustainable solution that can address the crisis on a permanent basis.

Former Chief Executive Officer of Unity Bank Plc, Alhaji Rislanudeen Mohammed, believes the action by the apex bank at the time was timely and a bold one.

However, he raised fears about the sustainability of the action and would rather want a permanent solution to the challenge, which he identified as forex supply, hence he called for a permanent solution to the Niger Delta vandalism issue and more importantly the devaluation of the naira further to attain the real market value of the currency in the forex market. He argued that this would become attractive to portfolio investors and others who will now throng the Nigerian market because of the high interest incentive.

Another expert who also commended the new CBN policy is the  Chief Executive Officer, Cowry Assets Management Limited, Mr. Johnson Chukwu, who said  though the policy  will close the gap between the interbank and parallel  market, but was all the same not new as people would think.

An Economist, Dr. Boniface Chizea, while assessing the impact of the policy said: “ We also plead for sustainability. The promised weekly allocation of one million dollars to the 21 banks, which should amount on aggregate to around one billion dollars a year, and considering the evolving stability at the oil market with the price consistently in mid-50 dollars a barrel, there is no reason why we should not have sustainability. And once that is the case what has just happened promises to be a game changer.”

Professor of Economics at the Olabisi Onabanjo University, Sheriffdeen Tella, opposed the policy action, saying it would drain the country’s external reserves and worsen the exchange rate challenges facing the country.”

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PDP governors, BoT reject appeal court verdict (Read full details)

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Makarfi

• Sheriff Camp Declares No Victor, No Vanquished
• Ekweremadu Urges Calm, As Makarfi Goes To Supreme Court

Hopes of an immediate end to the legal tussle that had frustrated political activities in the Peoples Democratic Party (PDP) dimmed yesterday, as the Ahmed Makarfi-led faction vowed to appeal the judgment of the Court of Appeal, recognising Ali Modu Sheriff as the authentic national chairman at the Supreme Court.

Also, state governors elected on the platform of the party have rejected the decision of the appeal court.Reacting to the ruling yesterday, Chairman of the PDP Governors Forum and Ekiti State governor, Ayo Fayose, described the judgment as “a rape on our democracy” and vowed that the party would appeal the judgment. 

Chairman of the party’s Board of Trustees (BoT), Senator Walid Jibrin, said all the organs of the party remain loyal to the Makarfi-led caretaker committee and would support the party decision to appeal the judgment. 

Fayose said: “If the people truly symbolise what a party is, then the machination of our detractors and the anti-democratic organs will not prevail at last.

“We commend the minority judgment of the appeal court and we believe the truth will prevail. “We thank God we have another opportunity to seek justice at the Supreme Court, which I believe will not be delayed or denied. It is a party matter that must be addressed as soon as possible.

“The party will appeal the judgment, as we believe in the ability of the judiciary to do justice.”“It is a price to pay to keep our democracy alive and opposition strengthened. We are prepared to go the whole hog,” he said.

While restating his regrets for playing a role in the emergence of Sheriff, Fayose said he acted with the best of intentions. Jibrin said members of the party nationwide should remain calm, as the party consults with its various organs.

“Whatever one does in this world, he must fear God. All evil machinations must end. The truth will prevail. Therefore, this judgment is not a threat, but it will bring us together.“I appeal to all our members to remain calm and not panic or move to any party, as all efforts will be made to ensure that the party remains PDP to the dreams of our founding fathers.”

Deputy President of the Senate, Ike Ekweremadu, enjoined all PDP faithful not to be anxious over the ruling.In his immediate reaction in Abuja yesterday, Ekweremadu said: “There is no cause for alarm. The party leadership will meet as soon as possible to take a decision on the best way forward.

“Those dreaming about the death of the opposition in Nigeria will have to sleep much longer and still wake up to meet us much stronger, because a vibrant opposition is the beauty of democracy.”

Spokesman of the Makarfi faction, Dayo Adeyeye, announced its intention to appeal against the judgment, which he said would not stand.But a member of the Sheriff faction and a former auditor of the party in the Southeast, Uwakwe Ifeanyi Regis, urged all loyal party members to sheathe their sword and embrace peace.

He told The Guardian in Abuja that the main task ahead is that of rebuilding the party by winning back the confidence of all members.

Regis stated that the judgment was a victory for every member of the party and for democracy, adding that there is neither a winner nor a loser.

He urged all members to abide by the promise not to appeal the judgment, saying it was not a good thing for PDP that some members were already talking of forming another party.

He insisted that PDP remains a stronger party, despite its losses at the last general elections.Former Minister of Aviation and chieftain of the party and supporter of the Makarfi-led committee, described the lead judgment as a victory for President Muhammadu Buhari.

Fani-Kayode said in his twitter handle, @realFFK: “The decision by the Court of Appeal in Port Harcourt to recognise Senator Ali Modu Sheriff as the National Chairman of the PDP is a victory for @MBuhari.”

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Navy pledges increased support for Dolphin Club, as La Liga group championship ends…See full details

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Gift Willy was first runner up at the La Liga Group Golf Championship held at the Navy Golf Club, Ojo…recently.

The Nigerian Navy leadership has pledged improved support for the Dolphin Golf Club, Navy Town, Ojo, Lagos, which just rounded up a two-day tournament organized by the La Liga group to mark its end of year 2016 activities. 

Speaking at the end of the tournament, Flag Officer Commanding, Western Naval Command, Rear Admiral Ferguson Bobai, affirmed that sports is a good way of keeping fit, adding that the Nigerian Navy will continue to lend a helping hand in sports because it goes a long way in contributing to the mental alertness of her men.

While acceding to the request of the Club in putting their Mikano generating set in order, the admiral called for fair play in competitions and understanding among participants, as he looks forward to getting involved in the game of golf.

Earlier, president of the La Liga group in the Dolphin Golf Club, Navy Town, Ojo, Lagos, Engr. Francis Olo, disclosed that the group would host a Pro-Am championship at the end of 2017.

Olo said his confidence stemmed from the fact that the 2016 end of year tournament attracted 30 professionals from around the country, adding that Tobias Chidi with a net score of 69 emerged the champion of the La Liga Group end of the year golf tournament.Willy Gift with a net score of 71 finished second, while Francis Ekpe with a net score of 73 finished third.

He revealed that the group was formed to bring together all the members of the club who belonged to different groups (Hexagon and Max Fly) and were sponsored by different outfits.

Olo said it was easy to bring the groups together after their sponsors stopped bankrolling their activities.Although they expected about 20 pros in the championship, Olo said the 30 that showed up proved that the tournament was gaining the confidence of golfers around the country.

“We are very proud of the achievement and the progress we have made and everything will be done to make it better with more professionals taking part. And aside playing the game, the tournament is also to foster friendship among the military and their civilian counterparts.”

Captain of the Club, Navy Commodore Muftau Adeoye (Rtd), commended Olo for the initiative and promised that the club would continue to support initiatives that aid development of the game. He also revealed that the club would also host a competition that would bring together the best golfers in the country.

At the end of the event, Efe Samuel, who went home with N87, 100 was the highest La Liga earner, while the prize for the longest drive hole (18) went to Emmanuel Usen. Joseph Omatsogunwa with 2880 points was the highest La Liga point earner, while Olo, who made 44 appearances, was named the highest participant.

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MP3/VIDEO: Sheun Natural – Love Me Better [Mp3, Lyrics, Wiki, Bio]

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With Body Perfect still enjoying massive airplay within and outside the country, KobiMighty Records Front line Artist, SheunNatural is back with another hot single titled “Love Me Better “.

“Love Me Better” is his first official single for the year 2017. The audio was produced by Lino, mixed and mastered by Marqai while the video was directed by Ochuko Lagos. The Versatile artist has promised to consistently put out good music. Watchout for the brand SheunNatural. Follow on all social media @SheunNatural

Download and enjoy below…

DOWNLOAD AUDIO

Watch video below…

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