Olivia Munn, Jason Segel to host the Academy's Sci-Tech Awards

Olivia Munn and Jason Segel will host the Academy’s Sci-Tech Awards on Feb. 13, the organization announced Friday.

The annual ceremony, now in its 88th year, honors those whose scientific and technical innovations have contributed to the film industry. Whiplash’s Miles Teller and The Wolf of Wall Street’s Margot Robbie hosted last year.
“The Sci-Tech Awards Presentation is one of our special events during Oscar season, and we’re thrilled to have Olivia and Jason as this year’s hosts,” Academy president Cheryl Boone Isaacs said in a statement. “Their humor and charm will be terrific complements to the brilliance of our colleagues and their outstanding scientific and technical achievements.”
Munn most recently appeared in Ride Along 2 alongside Kevin Hart and Ice Cube, and Jason Segel starred in this past summer’s The End of the Tour with Jesse Eisenberg. Portions of the Sci-Tech Awards will air as part of the Oscars telecast on Feb. 28 beginning at 7 p.m. ET on ABC.

Oil blocks: Supreme Court rules in Chevron’s favour

The Supreme Court of Nigeria on Friday delivered its judgment in favour of Chevron Nigeria Limited and Seplat Petroleum Development Company Plc in a litigation brought against both parties by Brittania-U Nigeria Limited over the sale of Oil Mining Leases 53 and 55.

Brittania-U, one of the bidders for the assets, had in December 2013 sued Chevron over the planned sale of the assets to Seplat, arguing that it emerged as the highest bidder. The litigation prevented the full completion of the sale process and transfer of the assets.

CNL, in a statement signed by its General Manager, Policy, Government and Public Affairs, Mr. Deji Haastrup, said it had formally handed over the producing assets in OMLs 53 and 55 to Seplat and Belemaoil, respectively.

It said the handover and induction exercise, which concluded the asset sale transaction between Chevron and the two local firms, were done at CNL’s Lekki Headquarters and the Jisike Flow Station, near Owerri, Imo State.

The Chairman and Managing Director, CNL, Mr. Clay Neff, was quoted in the statement as saying, “We are pleased to conclude the handover of the producing assets in OMLs 53 and 55 to Seplat and Belemaoil respectively. This affords these companies an opportunity to grow their production, while also confirming our commitment to developing Nigerian content.”

In response, the Chief Executive Officer, Seplat, Mr. Austin Avuru, said the acquisition of these assets was in realisation of the company’s carefully designed strategy to create long-term value and shared prosperity for their shareholders and other stakeholders.

He said, “Seplat will leverage its core strengths and expertise to capitalize on growth opportunities available to them across the upstream value cycle.”

On his part, the Founder of Belemaoil, Mr. Jack-Rich Tein, said, “We are pleased that the acquisition of OML 55 by Belemaoil is now concluded and we will now proceed with our long-term strategy to maximize value for all stakeholders.”

CNL signed a sales and purchase agreement in November 2013 for the sale of its interests in OMLs 52, 53 and 55 to the Seplat consortium comprising Seplat, Belemaoil and Amni International Petroleum Development Company Limited.

The litigation reached the Supreme Court, following an appeal brought by Brittania-U against the judgment of the Court of Appeal in Nigeria. The Court of Appeal decision delivered on June 20, 2014 set aside the ruling of the lower court, which had extended an ex-parte order of interim injunction obtained by Brittania-U at the commencement of the action.

Brittania-U had also sought the order of the Supreme Court for an interlocutory injunction restraining CNL and Seplat from proceeding with the sale and transfer of the assets until the determination of the appeal by the Supreme Court.

NYSC bans combination of Law School, national service

Director-General of the National Youth Service Corps, Brig. Gen. Johnson Olawumi

The National Youth Service Corps has said that henceforth, participation in the national service and attendance of Law School at the same time “would not be acceptable”.

A statement by the spokesperson of the NYSC, Mrs. Abosede Aderibigbe, on Friday said this was part of the resolutions made at 2016 annual management conference of the organisation, which took place in Asaba, the Delta State capital.

Participants also agreed that the policy on posting of the corps members to places of primary assignment would be reviewed to meet contemporary needs.

Aderibigbe said the conference stated that the NYSC Act provided for uninterrupted service year, and “advised prospective corps members to choose which one to defer between national service and Law School attendance instead of attempting to combine both.”

She said, “Parents of prospective corps members have also been advised by the confab to allow their graduate children take decisions as adults and avoid discouraging them from accepting postings to any location in the country.

“Management also noted the return of normalcy in some states whose orientation camps were closed due to insecurity, and expressed readiness to make phased reopening of the camps after due consultations with security agencies and governments of the affected states.”

The conference further resolved to deepen engagements with key stakeholders, including the security and intelligence community and traditional rulers on matters of security and general well-being of corps members.

Billionaire loses $6bn in 1 day but is still the 5th richest in the world + see top 10 richest men

Amazon founder, Jeff Bezos (right) lost $6 billion in one day after his company's share price fell 11 percent but it's not over for him yet, he still has $49.2 billion even though he slipped from fourth place to fifth on Forbes's rich list.

According to Forbes, he was worth $49.8 billion at 5pm. In the space of 30 minutes he lost $800million, so ended up falling behind Carlos Slim Helu of Mexico, who is now the fourth richest person in the world with a net worth of $49.6 billion.

 Bezos prefers to look on the bright side of things however.

'Twenty years ago, I was driving the packages to the post office myself and hoping we might one day afford a forklift. This year, we pass 100 billion dollars in annual sales and serve 300 million customers. And still, measured by the dynamism we see everywhere in the marketplace and by the ever-expanding opportunities we see to invent on behalf of customers, it feels every bit like day one.' 

See the top ten richest men below.

Billionaire                     Net Worth  (billions)           Company/ source                Country

1. Bill Gates                     $76.2                               Microsoft                           United States

2. Amancio Ortega          $68.4                                Zara                                 Spain

3. Warren Buffett             $59.8                               Berkshire Hathaway         United States

4. Carlos Slim Helu          $49.6                               Telecoms                          Mexico

5. Jeff Bezos                    $49.2                               Amazon.com                    United States 

6. Mark Zuckerberg         $47.9                               Facebook                          United States

7. Larry Ellison                 $44.1                               Oracle                              United States

8. Charles Koch               $39.7                               Diversified                         United States

9. David Koch                  $39.7                               Diversified                         United States

10. Larry Page                 $37.5                               Google                              United States

5 sex positions to give your woman a crazy orgasm

Give your woman an unforgettable orgasm with these sex positions.

Nirmalya Dutta   on Healthsite.com

The problem with female orgasm is that there are various different routes to reach the Promised Land and what works for one woman, might not work for another. While some women might only get an orgasm through vaginal intercourse, others can only get it through clitoral stimulation. Here are five sex positions which will make your woman moan with pleasure. 
Missionary

It’s without a doubt the first sex position you’ll ever find yourself in. It is the bread-and-butter of sex positions and the most common one to boot. A 2011 survey had found that it was most preferred one though it’s derided by feminists for being too man-in-control. The basic positioning is very simple and involves the man on top while entering the woman with both of them facing one another.  It’s a very simple position for beginners and doesn’t need a great deal of athleticism or know-how. Because the partners are face-to-face there’s more eye contact and kissing. There’s also a greater amount of body contact and the hands and legs can be manipulated to create a variety of different positions. You can also put a pillow under her hips so that you can penetrate in her deeper and hit the G-spot. 
Reverse Cowgirl
This famous variation of the woman-on-top has the lady pointing her head the other way. Basically, it has the man lying down and the woman on top of him either kneeling or squatting while he faces her back. It’s a flexible position where a woman can either lean forward or backward or keep her torso straight, while the man can keep his legs straight or arched. The position is a great variation from woman-on-top and gives the woman total control over the pace and rhythm and lets her set the agenda. She can also change the angles to see how to hit the sweet spot. Also, she has the option to rub her clitoris (the only way some women can orgasm) and get her man to hit the G-spot simultaneously which can give a very powerful orgasm!
Doggie Style
Rear entry or to use the more street term doggie style just loses out to woman-on-top. The position involves the woman on her knees facing away from the partner while he enters from behind. Some variations can have the woman lying face down as well with a pillow under her belly for more leverage. The position is great because it allows deeper penetration to hit the G-spot which is located somewhere along the front vaginal wall. Also, there’s room for clitoral stimulation which could make getting an orgasm even easier.
Woman on Top
No one understands the female body quite like the woman herself and that’s what makes the –woman-on-top a great sex position to achieve an orgasm because the woman is in control. Also known as the reverse missionary position, it is great for deep penetration. It also gives women complete control so she can direct the male partner to places which she’d like to and also control the thrusting.
Standing Sex Position
The standing sex position might be harder to achieve than the ones we’ve discussed so far and while it does require a certain degree of strength and athleticism, the rewards are also great. It usually involves the female partner with her back against the wall (or facing the other way) while the male partner enters her while her holding her up. The position allows for a greater degree of penetration and also allows for clitoral stimulation with all the different angles feasible.

Have sex after a fight to make up with your partner

Make-up sex can be the best sex you've ever had!

Content suitable for 18+ years. Parental guidance required and advised. Please exit if below18 years of age.
Make-up sex is perhaps the most satisfying and wild sex couples have! Why so? Because one moment you are arguing and disagreeing and the next thing you know, you are tearing off each other’s clothes, going for it with a hungry passion because you can’t keep your hands off your partner. It is a high that has been compared to that of sniffing cocaine, obviously sans its side-effects.
Dos and don’ts of make-up sex
First test the waters to know if your better half is also in the mood to kiss and make up. So don’t just jump on them, start by pulling them towards you or kissing them and if they respond well then go for it.
Don’t be too aggressive even if you are all charged up as you may hurt your significant other. Make sure you don’t go overboard with your passion unless both of you are in a mood to go wild. In the heat of the moment, don’t forget to use protection.
During the act, you can tease your lover by coming close to them and then moving away just as they are about to kiss you. Play hard to get and let them pull you closer to have you.
You can apologise during the act or not talk about the fight at all as it might lead to another argument and spoil the moment.
Even though make-up sex is great, once you are done, don’t forget to talk it out and end your fight in a healthy manner. Leaving it midway can lead to bigger problems later.
So make-up after a fight in a sexy way so that even those not-so-fun moments become memorable. Try these sex positions for a crazy orgasm.

See Senate President's reply to Obasanjo

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  Ex president Olusegun Obasanjo 
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  Senate President, Bukola Saraki  Nairaland 
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Senate President, Bukola Saraki has responded to a letter written to the National Assembly leadership by former president, Olusegun Obasanjo accusing the legislators of insensitivity over a plan to buy 469 cars despite the economic situation in the country.

Saraki’s response was contained in a statement released by his media office today, January 28, 2016.

It reads:

Yesterday, I acknowledged that I received a letter from former President Olusegun Obasanjo in which he called the attention of the National Assembly to some issues.

I will want to assure President Obasanjo that the leadership and membership of the 8th Senate are committed to good governance, transparency, accountability, due process and responsiveness to the economic reality of our nation. It is for this reason that the legislative chamber has introduced bold and progressive reforms in the management of the finances of the National Assembly.

This is of even greater importance during a tough fiscal period for our country. Like I said during my closing address at the plenary after our debate on the 2016 Budget, the Senate must lead by example in terms of our own funding, budgets and accountability – showing, beyond doubt, value for money. I have canvassed that we must lay bare the budget of the Senate, nay the National Assembly and its affiliated institutions.

I equally canvassed the need to strengthen the capacity of the legislative institution to carry our effective oversight of the executive arm so that we can ensure the budget leads to the realization of the policy objectives of the Buhari Administration. Again, let me reiterate my position in the speech I made this morning on the need for us to work towards blocking all areas of revenue leakages while also strengthening the anti-corruption agencies so that the little resources that are now available will serve the interest of the overwhelming majority.

As a former president and a father of the nation that we all hold in high esteem, I intend to reply the letter and outline the actions the Senate is taking to address his concerns.

In conclusion, I appreciate President Obasanjo for his consistent role in always reminding those of us in government about our responsibilities to the general public and offering timely advice where necessary.

NDLEA: Traditional ruler suspended after being caught with marijuana

Traditional ruler has been suspended following his arrest by the National Drug Law Enforcement Agency (NDLEA) for dealing on marijuana.

  National Drug Law Enforcement Agency (NDLEA) logo.
(Sundiata Post)

A traditional ruler in Kaduna State has been suspended following his arrest by the National Drug Law Enforcement Agency (NDLEA) for dealing on marijuana.

Ibrahim Danladi was said to have been arrested by the NDLEA while in possession of a 1.5kg of marijuana.

Some residents of the village who were contacted confirmed the arrest but added that the traditional ruler, fondly called, ‘Alhaji Maina,’ was arrested following the discovery of a bag of marijuana in his house.

“Someone dealing on marijuana was staying in his house selling it. Realizing the huge profit the man was making, Alhaji Maina also joined him in selling the illicit drugs,” a source said.

Even thought efforts to contact the village head by Pulse proof abortive, the traditional ruler’s arrest and subsequent suspension is a dramatic turn in the fight against drugs in the State.

Meanwhile, Kaduna State government has announced the suspension of the traditional ruler, in a statement signed by Samuel Aruwan.

The statement said on 20 January 2016, the NDLEA arrested Danladi a village head of Ungwa Goma in the Gimi District of Sanga local government area of the state who admitted ownership of the illegal drug.

“The NDLEA subsequently notified the Kaduna State Security Council of the arrest of the traditional ruler. While deliberating on the matter, the Council recommended his suspension from office pending the conclusion of investigations and possible trial. The government accepted the recommendation,” the statement said.

NDLEA will soon arraign the village head in court after investigations are completed, it was gathered.

Baby girl born ‘pregnant’

Report claims the baby girl had twins fetuses inside her when she was born According to the South China Morning Post, the baby was noticed to have had two tumors during a scanning process. It was later discovered that the tumors were fetuses of twin babies.

The baby which was allegedly born at Queen Elizabeth Hospital was said to have the fetuses at 10 weeks gestation and each had four limbs, a spine, rib cage, intestines and brain tissue as at the time it was born.
“It was almost impossible to detect during the prenatal check-up, as the embryo inside the baby was too small. Since it is impossible for the little girl to have conceived the pregnancy on her own, the fertilization of the twin fetuses, of course, belongs to her parents, which has gone to the wrong place,” Yu Kai-man, a former professor at Chinese University of Hong Kong, allegedly said.

Harrison Ford, Anthony Hopkins, Natalie Dormer join spy thriller 'Official Secrets'

Harrison Ford, Anthony Hopkins, Natalie Dormer, Paul Bettany, and Martin Freeman will star in the spy thriller Official Secrets, the Solution Entertainment Group announced Thursday.

Based on Marcia Mitchell’s nonfiction book The Spy Who Tried To Stop A War, the film is to recount the story of Katharine Gun, a British intelligence officer who leaked information to the press about an NSA spy operation allegedly intended to press the U.N. Security Council into sanctioning the Iraq invasion.
Dormer will portray Gun, Bettany and Freeman will play journalists at the London Observer, Hopkins will play a retired U.K. general, and Ford will portray a CIA agent.
Justin Chadwick (Mandela: Long Walk to Freedom, The Other Boleyn Girl) is directing from a script by Sara Bernstein and Gregory Bernstein. Elizabeth Fowler is producing, with Lisa Wilson and Myles Nestel executive producing.
Production is scheduled to start in the U.K. in May.

Culture shock in Nigeria 5 top strangest traditions

So shocking! Other cultures can be crazy even if those people live right next door to you. Read about it now!

Nigeria is a large country. Lots of different people live here. More than 200 ethnicities are found on its territory. Each of them has its own customs and traditions. Someone, who comes to the country for the first time will probably experience culture shock in Nigeria, because certain rituals might seem really unusual to the foreigners. However, it will be interesting to know about the most prominent of them. That’s why we're going to observe top strangest traditions.

Tribes and their peculiarities

As you already know, there are many ethnic groups in Nigeria. However, it's possible to distinguish three biggest ones. They are Igbo, Yoruba, and Hausa. To avoid culture shock in Nigeria, it's better to know about their main customs. Thus, before we start speaking about top strangest traditions, let’s observe each group:
Igbo. They comprise about 70% of southeastern population. Historically, they come from Nri Kingdom, which is the oldest in Nigeria. They have really great heritage and culture. From the ancient times they make bronze vessels for various ceremonies. As main other tribes, Igbos have their musical styles. The main instruments are opi, igba, and ichaka.
READ ALSO: Culture shock in Nigeria - Ijaw people throw their newborns right into the river! Is that right?

One of the famous musical forms is called highlife. It is a mixture of jazz and traditional music, which has become very popular in West Africa. The most widespread crop for this tribe is yam. There are even lots of festivals, held to celebrate its harvesting. Igbo cuisine is very diverse. It includes different types of food. They prefer meat, fruit, and vegetables. It was also influenced by their history and environment. The common dishes are Egusi, Bitter leaf, and Okra soups.

We can say that those people have their fashion. Their traditional clothes are very special. In fact, it's mostly used to cover private parts of body. Nevertheless, the elders are always fully dressed. According to the customs, children are nude from their birth till adolescence, because it is thought, they have nothing to hide yet.

Body art is very popular among both men and women. In course of time, European style in clothing has started to prevail. Many people now wear shirts and trousers. Modern traditional attire for males includes Isiagu top (resembling African Dashiki and patterned with lions’ heads) and title holders hat or Igbo stripped men's hat. As for the females, they wear puffed sleeve blouses with two wrappers and a headscarf.
Yoruba. They are about 80% of the southwest and more than 20% of the whole population in the country. This ethnic group is spread throughout all West Africa as well. Historically, they are very prominent in art (like bronze sculpturing) and poetry. Their textile work is also striking. They apply various kinds of looms to create wonderful patterns. The most popular foods are pounded yam, Amala, eba, Moin moin, semo, fufu, and akara. Besides, they like different soups such as egusi, ewedu, and ila okra.

Yoruba people have adopted many Western traditions; however, they have also managed to preserve their own. For example, they have really interesting wedding traditions, which include stages of courtship, acquaintance with parents and family, payment for the bride, and so on. Wedding day is considered a day of celebrations, drinking and eating, dancing for parents, relatives, the newlyweds, their friends and sometimes even foes. For Yoruba people, it is unification of families, and not just two people.

Wedding rituals make them connected for all life. One of the weird wedding rituals is known as Ekun Iyawo (which means The cry of the new bride). The woman is accompanies by her family to her husband’s house in order to show, she is sad to leave her home. There, she is prayed for, and her legs are washed. They believe that by thus, she’s all the bad luck will vanish. You should also know, different subgroups of this tribe confess various religions. For instance, Christians often combine these ceremonies with the church ones.

Hausa. It is the largest Nigerian tribe. They comprise about 30% of total population of the country and 60% of the north. There exists another tribe, called Fulani. They have very similar traditions; that’s why all of them often referred to as Hausa-Fulani. Most of people of this ethnic group are Muslims, that’s why they follow Islamic traditions and have autocratic society. They are very prominent in art, especially in architecture.

Their style, known as Tubali, is featured by dry mud bricks in cubic structures, multi-storied buildings, the application of parapets related to their military building past, and traditional white stucco and plaster for house fronts. The Hausa cuisine is also unique. It consists mostly of grains (such as millet, maize, rice, etc.). The most widespread dishes are kosai (cake made of beans) and funkaso (cake made of wheat flour and served with sugar). Various porridges and soups are famous as well.

As for the clothing, they have very strict dress code. Men usually wear large flowing gown (Babban riga) and a robe, called jalabia. Besides, they have colorful caps known as hula. Women wear wrappers (zani), blouse, head tie, and shawl.

Unusual traditions

Now we can talk about the strangest Nigerian traditions. They are:

1. Widowhood Practice. After the burial ceremony, the woman must show she is nothing without her husband. Besides, it is essential to display, she has no responsibility for his death. She is subjected to some kind of humiliation. For example, she might be made to drink the water, in which the corpse of her spouse has been washed. Her relatives may shave her hair and force her to sleep with the dead man.
   
    
2. Sharo Festival. It's one of the strangest festivals. It is public ritual, which demonstrates to the rest of society that young man has come of age, and is ready to have a wife. A man is whipped by a challenger for several times. During the process, he must not show any signs of pain. It is a Fulani tradition, which attracts people of all ages and professions.
   
    
3. Inheritance Practices. There exists a belief that wife is a kind of property, which might be passed around. Thus, after the husband’s death, the wife might be inherited by one of his brothers. However, this tradition is slowly becoming an issue of the past.
   
    
4. The Magun. All the Nigerian ethnic groups are strongly against adultery. Yoruba people has a strong black magic for such sinners. The Magun can be placed in a married girl without her even knowing about it. And if she commits adultery, her lover might die.
   
    
5. Circumcision. It is widely practiced in Nigeria and in whole Africa. For men, it is partial or complete removal of foreskin around the genitals, while for women it is removal of genitals. This ritual is meant to preserve the chastity of women.
   

There are lots of unusual feasts, entertainment, and traditions. Nevertheless, most of them are the thing of certain ethnic groups, so they are not spread throughout Nigeria. However, it might be interesting to know about them, even if some customs seem scary.
 Nowadays, education has become more available for the people in different parts of the country. It gives an opportunity to stop the most strict and cruel traditions. However, it is vital to remember that there are plenty of nice and amazing ones. Such cultural things should be preserved by all means.

Man Explains How Bishop T.D Jakes Sermon Changed His Life

The person who changed my life is someone I had never even met

By Don Lemon, CNN

If there's anything you should know about me it is that I'm not a conformist. Never have been, never will be. So it is fitting that the person who changed my life is someone I had never even met.

Let me explain.

Besides family members, there have only been a handful of people who have genuinely wanted to see me succeed. The ones who did have my best interests at heart were not always in the same city, let alone the same state to spend any real time with. So, for most of my adult life I've been pretty much a loner, sometimes by choice, but usually out of necessity.

It was during one of the more difficult periods of my life and career that the person who would change my life showed up, and in a big way.

I was living in Chicago in the early 2000s when everything I had worked for, everything I had dreamed of accomplishing, was in danger of being shattered because I had, once again, refused to conform.

I had been lured to Chicago from my network news job in New York with the promise of the big stories and the anchor chair. Instead I was sent out to cover shootings, stabbings and fires. When I dared to say no, to stick up for myself, I was publicly taken to task and very nearly fired. It was a low point in my life and career.

Back then it had been my habit to run daily along the lake in Chicago. Normally I ran to music. But with iPods and iTunes newly becoming prevalent, it became easier to replace the empty pulsating dance, pop or rap music with lectures or motivational speeches.

It wasn't, however, until one day by happenstance I downloaded a sermon entitled "You Don't Have To Believe In My Dream" from Bishop T.D. Jakes. That's when everything changed. And I mean everything!

While I was dealing with my work and life crisis, I would run every single day. As I logged mile after mile in heat waves, driving rain or snowstorms, I would listen to that same sermon on "dreams" over and over and over again.

The central tenet to Jakes' sermon was from the Bible, Romans 3:3-23, which reads, "For what if some did not believe? Shall their unbelief make the faith of God without effect? God forbid: yea, let God be true, but every man a liar."

People not believing in my dream had been a recurring reality in my life. So, it was as if Bishop Jakes was speaking directly to my circumstances and me when he told members of his congregation and everyone listening to turn to the person next to them and say, "Hey neighbor, you don't have to believe in my dream."

I would turn and shout it to whomever was running next to me or past me on the running path. And if I were alone I would shout it out loud. Within a very short amount of time, my attitude, my outlook and what I thought was important began to change. My life changed!

I no longer needed approval from anyone, including the people who I had once thought could control my career and what I wanted to accomplish. I realized that I was the only person who was in charge of that. It was liberating.

I know it sounds strange that the person who was a mentor only in my head had had so much of an impact on my life. But isn't it the person who has our ear often the person who influences us most?

Years later, long after I left Chicago and was working for CNN, I finally got the chance to interview Bishop Jakes, first by satellite and then in person. He had no idea of the impact he had on my life. He had no idea that, in large part, the reason I had achieved the success that I had was because of him. He had no idea that one of the main reasons I was sitting across from him at the anchor desk, was because of him.

He had no idea -- until now.

*If you need some inspiration and would like to hear a portion of the sermon that changed my life, here's a link.

Japan adopts negative interest rate in surprise move

In a surprise move, the Bank of Japan has introduced a negative interest rate.

The benchmark rate of -0.1% means that the central bank will charge commercial banks 0.1% on some of their deposits.
It hopes this will encourage banks to lend, and counter the ongoing economic slump in the world's third-largest economy.
The European Central Bank also has negative rates, however, it is a first for Japan.
The decision came in a narrow 5-4 vote at the Bank of Japan's first meeting of the year on Friday.
"The BOJ will cut interest rates further into negative territory if judged as necessary," the Bank of Japan said, adding it would continue as long as needed to achieve an inflation target of 2%.
Some analysts have cast doubt over how effective the rate cut will be.

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Why has Japan made this move?

• Japan is currently facing very low inflation, which means that people and companies tend to hold on to their money on the assumption that they can get more for it later in time. So rather than spend or invest it, they will keep it in the bank.

• Charging a percentage to keep money in the central bank might encourage commercial banks to lend it out. That would boost both domestic spending and business investment.

• It is also aimed at driving inflation up, which is another incentive for people and businesses to spend rather than save.

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In a press conference, the BOJ's governor Haruhiko Kuroda pointed at the global economic outlook when explaining the cut.
"Japan's economy continues to recover moderately and the underlying price trend is improving steadily," he said, but warned that "further falls in oil prices, uncertainty over emerging economies, including China, and global market instability could hurt business confidence and delay the eradication of people's deflationary mindset".
Earlier in the day, fresh economic data had again highlighted concerns over economic growth. The December core inflation rate was shown to be at 0.1% - far below the central bank target.
Asian shares jumped and the yen fell across the board in reaction to the announcement. Japanese banks though saw their shares drop on the news as lenders are likely to see their margins squeezed even more.

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The decision to implement a negative interest rate has been dubbed "Kuroda bazooka" after the governor of the Bank of Japan.
Haruhiko Kuroda, is well known for making surprise moves that shock investors. Only a few weeks ago, Mr Kuroda told the parliament budget committee that he would not introduce more stimulus for the economy.
So today's announcement caused the stock market to jump while the yen fell sharply against major currencies.
The option of lowering the cost of borrowing below zero has been on the cards for Japan's central bank since the early 2000s and it was the first in the world to consider it.
But when it comes to implementing the policy, Denmark, Sweden and Switzerland were first, followed by the European Central Bank which had to do everything it could to keep the EU economy afloat after the eurozone economic crisis.

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Last resort

There are doubts, however, over how well the new policy will work.
"Negative interest rates are one of the last instruments in the BOJ's tool box," Martin Schulz of the Fujitsu Institute in Tokyo told the BBC. "But their impact is unlikely to be strong."
Mr Schulz cautioned that in the eurozone, negative interest rates are being used to tackle a financial crisis, whereas Japan is in a protracted slow growth environment.
"In Japan, credit didn't expand not because banks were unwilling to lend but because businesses didn't see the investment perspective to borrow. Even with negative interest rates, this situation will not change."
"Businesses don't need money - they need investment opportunities. And that can only be achieved by structural reforms, not by monetary policy," he said.
The decision comes in addition to the BOJ's massive asset-buying programme, which over the past years had failed to boost growth.

Source: BBC

Mixed reactions as Buhari rejects naira devaluation

President Muhammadu Buhari

President Muhammadu Buhari has again rejected calls for the devaluation of the naira, saying he has yet to be convinced that the country and its people will derive any tangible benefit from such a move.

A statement by his Senior Special Assistant on Media and Publicity, Mallam Garba Shehu, on Thursday quoted the President as speaking at a meeting he had with Nigerians living in Kenya late on Wednesday.

Buhari, who is currently on a three-day state visit to Kenya, was said to have maintained that while export-driven economies could benefit from the devaluation of their currencies, such a move would only result in further inflation and hardship for the poor and middle class in Nigeria’s import-dependent economy.

The President said he had no intention of bringing further hardship on the country’s poor, who he noted had suffered enough already.

He likened further devaluation of the naira to having the currency “killed.”

Buhari added that proponents of devaluation must work harder to convince him that ordinary Nigerians would gain anything from it.

The President also rejected suggestions that the Central Bank of Nigeria should resume the sale of foreign exchange to Bureaux De Change, saying that the BDC business had become a scam and a drain on the economy.

“We had just 74 of the bureaux in 2005; now, they have grown to about 2,800,” he noted.

Buhari alleged that some bank and government officials used surrogates to run the BDCs and prosper at public expense by obtaining foreign exchange from the government at official rates and selling it at much higher rates.

“We will use our foreign exchange for industry, spare parts and the development of needed infrastructure. We don’t have the dollar to give to the BDCs. Let them go and get it from wherever they can, other than the central bank,” Buhari told the gathering.

The President reaffirmed his conviction that about a third of petroleum subsidy payments under the previous administration was bogus.

“They just stamped papers and collected our foreign exchange,” he stated.

Buhari appealed to Nigerians studying abroad to bear with his administration as it strives to address the challenges they were facing as a result of the new foreign exchange measures.

He said that he was optimistic that the Nigerian economy would stabilise soon with the efficient implementation of the measures and policies that had been introduced by his administration.

However, some economic and financial analysts have faulted Buhari’s position on the naira, stressing that the CBN would find it difficult to preserve the currency from further devaluation amid the depleting external reserves.

The Chief Executive Officer, Cowry Asset Management Limited, Mr. Johnson Ckukwu, said, “This position is not sustainable; the CBN will find it difficult to keep and preserve the naira in the face of falling forex income to the nation.

“We cannot continue like this as a country. Already, the CBN is no longer able to provide forex for basic raw materials and production inputs; this may lead to further factory closures. It is in our best interest to devalue now.”

Renowned economist and Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, said a combination of naira devaluation and forex controls by the CBN would save the country.

He said the naira-dollar official exchange rate, pegged at between 197 and 199, was not realistic, adding that there was a need for further adjustment of the official exchange rate.

A professor of Economics at the Olabisi Onabanjo University, Sheriffdeen Tella, is, however, of the opinion that a further devaluation of the naira will not be in the interest of an import-dependent nation like Nigeria.

He said countries like China allowed official devaluation of their currencies because they had several products to be exported in order to earn forex.

Tella said while such a move could be good for export-oriented countries like China, it would be counterproductive for an import-dependent nation like Nigeria.

“Do we have the products to export abroad if we are to devalue the naira? Devaluation will, no doubt, make exports to be more competitive in the international market, but we don’t have the products to be exported for now. This is why devaluation may not be good for Nigeria at this moment. China will allow its currency to be devalued because it has the products to be exported,” he explained.

Chukwu, however, disagreed with Tella on this position, maintaining that devaluation of the currency was good for an import-dependent economy like Nigeria.

He said, “Actually, naira devaluation is good for the economy; it will not hurt an import-dependent economy like ours the way some people have perceived it. When we devalue the naira, it will make some imported goods to be so expensive that some local substitutes will begin to spring up; this will help to stimulate domestic production.

“Again, when we devalue, it makes our exports as a country to be cheaper such that they will become more competitive in the international market.”

Last year, the former Governor of CBN, Mallam Lamido Sanusi, said Nigeria needed to devalue the naira because the CBN might not be able to sustain its current forex control polices on the long run, especially in the face of the depleting forex earnings by the nation.

Another former CBN Governor, Prof. Chukwuma Soludo, in a paper presented at a forum last year, said history had shown that forex restriction had not worked in many countries in the past.

While the naira sells for 306 against the dollar at the parallel market currently, the CBN still keeps the official rate at between 197 and 199.

Economists said the widening gap between the official and parallel market rates would continue to breed all manner of sharp practices in the forex market.

  source: PUNCH.

According to Economist magazine, Goodluck Jonathan is an ineffectual buffoon

In an article titled 'Crude Tactics', Economist magazine described former president Jonathan as an ineffectual buffoon. The article reads in part;

"In the eight months since Mr Buhari arrived at Aso Rock, the presidential digs, the homicidal jihadists of Boko Haram have been pushed back into the bush along Nigeria’s borders. The government has cracked down on corruption, which had flourished under the previous president, Goodluck Jonathan, an ineffectual buffoon who let politicians and their cronies fill their pockets with impunity. Lai Mohammed, a minister, reckons that just 55 people stole $6.8 billion from the public purse over seven recent years."- Read the full article here

GOtv to beam RedCarpet of Hollywood’s Award live 30 January

GOtv has announced that the red carpet of one of Hollywood’s most glamorous nights, the 2016 Screen Actors Guild Awards, will be shown live on its bouquet on Saturday, 30 January at 12am.
The RedCarpet on Channel E! will take viewers behind the scenes of the event, reporting live with all the latest gossip and fashion updates, as the stars hit the red carpet in their finery to celebrate outstanding work in film and television.
Channel E! will capture every fascinating moment, including exclusive interviews and expert predictions for the night ahead.
Meanwhile, GOgetters who love to watch series on Telemundo, are also advised to look out for what happens to Genaro in For Love and Justice as the series gets hotter.
For Love and Justice, shown weekdays at 5pm and its Finale on Friday 22 January, Diablo and Genaro are looking for Liliana in every hideout they can think of. Fernanda must stop the kids before they discover where Liliana is hiding. Lucia is also curious, but then Liliana threatens her with a gun.
El Diablo and his men attack a police control post and flee to Austin, Texas. Liliana is finally defeated, but Fernanda is in a bad way. It is Marisela and Rodriguez’s wedding day. Diablo sets a trap for Daniel. Lucia goes to the place where Daniel is being held prisoner. The confrontation between Diablo and Liliana results in Genaro getting shot.
Other captivating programmes this week include Shabri on Zee World, Deadly Instincts: Fear Factor and The Amazing Spider House on NatGeo Wild, among others.
Zee World is on GOtv Plus Channel 25.. Shabri takes matters into her hands after her brother is killed by corrupt police officers. She seeks revenge on the police and the gangsters that were involved.
The Amazing Spider House on NatGeo Wild, Friday 22 January at 6:30pm sees a team of experts fill a normal house with hundreds of spiders, and soon an astonishing drama unfolds within its walls, she said.

Sodomy: Prof., 3 others arraigned for Criminal Conspiracy

The Police in Kano on Thursday, arraigned the proprietor of Hassan Gwarzo College in Kano, Prof. Ibrahim Ayagi and three others over a sodomy scandal that had rocked the College recently.
The arraignment followed the investigation ordered by the Kano state government which was handled by a high powered Commission.
Ayagi and three others were arraigned on eight count charges which bordered on criminal conspiracy, negligence, failure to provide information and joint action among others.
In his submission, counsel to the accused, Barrister Abdulrazak Bagwai, had told the court that he was vehemently opposed to the arraignment of his client against the earlier date fixed by the court.
According to him, his clients were subjected to ill treatment by the police detectives in Kano despite the fact that the court had restrained the police from further arresting them since they were granted bail.
However, Police Prosecution counsel, Barrister S. O. Akwe said there was never a time the accused persons were shabbily treated or unilaterally arrested.
He said bringing the matter to the court against the date fixed (Feb.29) was not meant for further deliberation on the matter.
He stressed that it was to draw the attention of the court that an additional charge had been slammed against the first accused; who is the proprietor of the College.
The presiding judge, Chief Magistrate Aminu Kabara maintained that the Feb. 29, date fixed for the continuation of hearing the case remained intact.
NAN recalled that the accused were first arraigned before the court on Tuesday, but the presiding judge Aminu Kabara adjourned the case to February 21 for the prosecutors to carry out further investigation on the matter.

How Nigerian cult group traffics women into Europe – Spanish police

The Spanish police have raised the alarm about a Nigerian cult group, Supreme Eiye Confraternity, which is running a human trafficking racket and using British airports including Gatwick as entry points to traffic Nigerian women into Europe.
The Head of anti-trafficking at Catalonia police, Xavier Cortes, stated in an interview with British Broadcasting Corporation that the Nigerian cult gang had been “using forged documents and passports to fly its Nigerian victims into places like Gatwick.”
Cortes, who noted that members of the Nigerian cult group speak English language, said their choice of British airports to traffic prostitutes to Europe may be an indication that they were getting official help from Nigeria to obtain passports.

“These (fake) documents are expensive, though, and need co-operation of people working in the government to get,” Cortes was quoted as saying on the BBC‘s website.
The BBC, in a report, quoted the Spanish police as indicating that Supreme Eiye Confraternity had now resorted to using UK as opposed to crossing the Mediterranean Sea, which it had reportedly found to be deadly.
It quoted an unnamed Crime Squad Officer in Barcelona as saying that his team had bust a notorious Nigerian crime organisation running a network of trafficked prostitutes across the city.
Most of the women being trafficked by Supreme Eiye Confraternity are said to from Nigerian towns and cities, including Benin City.
According to the BBC report, the gang usually lured their victims with the promise that they would make money through prostitution and they usually had no idea of the pain that they would be subjected to.
One of such women, whose name was not given, had told the BBC that, “I did not know I would be beaten and raped and have to have sex every night of the week.”
Another woman, speaking after she was freed by a recent Spanish police raid in Barcelona, said she had been hit over the head with a glass bottle after telling a gang member she could not meet his demand for payment.
“I had scars all over my body,” she told the BBC.
According to the report, a recent raid on the Supreme Eiye Confraternity in Barcelona took 18 months of planning and resulted in 23 arrests.
“But the SEC has hundreds of members running operations out of Ibadan, about 100 km (60 miles) northeast of the Nigerian city of Lagos,” the BBC report said.
“In 2014, 70 per cent of nearly 900 Nigerian citizens applying for asylum in Britain had their applications refused, government data shows.
“Nigeria’s government has failed to comply with minimum standards for the elimination of human trafficking, though it has made some progress, the UK Home Office (interior ministry) said in a report on the country last year.
“More than 3,770 migrants and asylum seekers died in 2015 trying to reach Europe by crossing the Mediterranean Sea,” the BBC stated in the report.
The Civil Aviation Authority reported that in 2014 over 240 million passengers passed through UK airports.
The surge in arrivals has heaped pressure on European police and authorities to break a network of organised crime spanning the continent.
The UK’s National Crime Agency reportedly said last year that number of people identified as potential victims of human trafficking in Britain rose by 21 per cent to 3,309 in 2014.
The nationality of the victims was known in only 2,100 cases of which nearly 9 per cent were Nigerian, the agency’s data showed.

Metuh released from prison

The spokesman of the Peoples Democratic Party (PDP), Chief Olisa Metuh, was on Thursday evening released from Kuje prison after perfecting the bail conditions handed down by courts in Abuja.
Justice Okon Abang of the Federal High Court, Abuja, on January 19 granted Metuh bail in the sum of N400m, and two sureties with landed property in the Federal Capital Territory.
He is standing trial for his alleged involvement in the diversion of arms procurement funds after receiving N400million from the Office of the National Security Adviser in 2014. .
The PDP spokesman was released from prison after Justice Abang signed his release warrant.
The judge, according to reports, signed the release warrant, after receiving details of the two sureties and other requirements provided by Metuh.

Source: The Nation

Zika virus spreading explosively – WHO

photo source: livescience.com

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The Zika virus is “spreading explosively” in the Americas and the region may see up to four million cases of the disease strongly suspected of causing birth defects, the World Health Organisation said Thursday.
As the number of suspected cases of microcephaly – thought to be linked to the virus – surged in Brazil, WHO head Margaret Chan said an emergency committee would meet on Monday to determine whether the Zika outbreak amounts to a global health emergency and how the world should respond.
Microcephaly causes babies to be born with an abnormally small head.
Cases have soared in Brazil from 163 a year on average to more than 3,718 suspected cases since the outbreak, and 68 babies have died, according to the health ministry.

Colombia, Ecuador, El Salvador, Jamaica and Puerto Rico have warned women to avoid getting pregnant for the time being, while France has urged women not to travel to French overseas territories in South America and the Caribbean.
Chan told an assembly of WHO member-states in Geneva that the severity of the current outbreak was unprecedented in recent decades.
For decades after Zika was first discovered in Uganda in 1947 the mosquito-borne virus was of little concern, sporadically causing “mild” illness in human populations.
“The situation today is dramatically different. The level of alarm is extremely high,” she said, with Zika also possibly linked to a neurological disorder called Guillain-Barre syndrome.
“A causal relationship between Zika virus infection and birth malformations and neurological syndromes has not yet been established, but is strongly suspected,” Chan said.
She told WHO members that the virus “is now spreading explosively,” in the Americas, where 23 countries and territories have reported cases.
Marcos Espinal, the head of communicable diseases and health analysis at WHO’s Americas office, said the region could see between three to four million cases of Zika.
That projection applied to the next 12 months and was based largely on historical spread patterns of similar mosquito-borne diseases like dengue fever, said Sylvain Aldighieri, a WHO epidemic expert in the Americas.
WHO has previously said that it expects Zika to spread to every country in the Americas except Canada and Chile.
There have not yet been any cases of local transmission of Zika virus within the United States, although infected travellers have returned to the country after visiting other areas.
However, a recent study in The Lancet suggests that Zika virus could reach regions of the United States in which 60 percent of the population lives, or some 200 million Americans.
Chan explained that the February 1 emergency committee meeting will also aim to identify priority areas for urgent research, after US President Barack Obama called for swift action, including better diagnostic tests as well as the development of vaccines and treatments.
Brazil has been the country hardest hit so far, and concerns are growing about this summer’s Olympic games, which are likely to attract hundreds of thousands of visitors to host city Rio de Janeiro in August.
Six months from the opening ceremony, the government has promised to attack mosquito breeding sites and protect visitors from the virus, from which there is no known prevention method aside from avoiding mosquito bites.
WHO’s deputy chief Bruce Aylward told reporters that it was “very, very unlikely” the UN agency would issue warnings against travel to Brazil, including for the games.
The head of the International Olympic Committee, Thomas Bach, said it will “do everything” in its power to keep the Games safe from the virus.
Honduras also said it had registered 1,000 cases of Zika, which is transmitted by the Aedes aegypti mosquito, the species that also carries dengue, chikungunya and yellow fever.
With concern over travel to Latin America spreading, two airlines in the region announced refund offers to pregnant women booked for travel.
Chilean-Brazilian airline Latam, the region’s biggest, will refund or rebook expectant mothers with tickets to any of 22 countries or territories with outbreaks of the mosquito-borne virus, while Chilean company Sky will refund pregnant women with tickets to Brazil.
US carriers Delta and American Airlines have made similar offers.
The Zika virus takes its name from a Ugandan forest, where it was first discovered.
Chan stressed that previous beliefs about the disease have been challenged by the fresh outbreak and that WHO needed better information as quickly as possible.
“The level of concern is high, as is the level of uncertainty. Questions abound,” she said. “We need to get some answers quickly.”

Man arrested for attempting to rape pregnant woman

Samuel Onochie

The Lagos State Police Command has arrested a diploma holder, Samuel Onochie, for allegedly sexually assaulting a pregnant woman, Esther (pseudonym), in Jakande, in the Eti-Osa Local Government Area of the state.

It was learnt that the woman, said to be eight-month-old pregnant, was passing through the area on Sunday at about 6am, when Onochie ambushed her.

The 34-year-old suspect, who told the police that he bagged a diploma in law from a university in Benin, Edo State, reportedly threw Esther on the floor and stripped her wrapper.

Our correspondent gathered that he had dipped his finger into Esther’s private parts and was about to penetrate her when a man was drawn to the scene by the woman’s wailing.

The man was said to have held Onochie, who is also a cobbler, while Esther rushed to the Ilasan Police Division and reported the incident, leading to his arrest.

A police source told our correspondent that the suspect had yet to explain why he allegedly committed the act.

“It is very disturbing that a man could commit such an act, especially with a pregnant woman. As if it was not enough, he did it in broad daylight. He has not been able to tell us why he committed the act,” the source said.

Onochie was brought before a Tinubu Magistrate’s Court on Wednesday on one count of sexual assault by a police prosecutor, Inspector Philip Osijale.

The charge read, “That you, Samuel Onochie, 34, on January 24, 2016, at about 6am, at Jakande, Lekki, in the Eti-Osa Local Government Area, within the Lagos Magisterial District, did sexually assault one Esther, by inserting your finger into her private parts, thereby committing an offence contrary to and punishable under Section 259 of the Criminal Law of Lagos State, Nigeria, 2011.”

The defendant pleaded not guilty to the charge and elected summary trial before the presiding magistrate, Mr. L.A. Owolabi.

Owolabi granted him bail in the sum of N100,000 with two sureties in like sum.

The magistrate said one of the sureties must be related by blood to the defendant, adding that both sureties must have paid three years tax to the Lagos State Government.

While adjourning the case till March 14, 2016, Owolabi ordered that the defendant should be remanded in prison pending the time he would perfect his bail conditions.

He told the prosecutor to send the case file to the Directorate of Public Prosecutions for legal advice.

SOURCE: PUNCH.

Check out Cristiano Ronaldo's new N65bn Hotel

In an interview in December, three-time FIFA Ballon D’Or winner, Cristiano Ronaldo said he would take a clean break from football and live like a king.
He specifically said he would not be going into coaching or scheming to become the president of any football club.
Well, the Portuguese star may have started building his ‘estate’ to ensure he really gets to enjoy the life he envisioned for himself.
The 31-year-old, who said he may not retire from the game until he’s 35 or 40, has acquired a luxury hotel in the “most exclusive area” of Monte Carlo for a whopping £105 million (app. N65.5 billion).
The deal was believed to have been brokered with the collaboration of American presidential hopeful Donald Trump and an Italian real estate agent, Spanish sport paper MARCA reported.
The deal was reportedly completed last week.
Ronaldo has been known to collaborate with the billionaire Trump on other investment ventures, with a purchase of a £13 million-worth apartment in Trump Tower, New York in August 2015 readily coming to mind.

Source: The Herald

Music: Rihanna drops 'Work,' featuring Drake amid Anti release rumors

Good morning from Rihanna. The singer released a brand new single from her forthcoming album Anti early Wednesday, amid rumors that her long-anticipated record could arrive soon. The track, called “Work,” features Drake and debuted on Tidal before appearing on iTunes.
The release comes after Billboard published reports that Rihanna would drop a new song on Wednesday at 8 a.m. ET and that Anti would debut Friday. Fans have been waiting three years for the collection, which was originally due out last year following RiRi’s “American Oxygen” and her collaboration with Kanye West and Paul McCartney, “FourFiveSeconds.”

FIRST SINGLE #WORK ft. @Drake from #ANTI is here!! Listen up –> https://t.co/CYqrvPRahc pic.twitter.com/0WvHi4x3Ut

— Rihanna (@rihanna) January 27, 2016

Last year, Rihanna also released “Bitch Better Have My Money” and its brutal, epic music video. In the final months of the year she teased an album name and art, debuting both at a gallery exhibit in Los Angeles in October.
Anti may not have a firm, official release date just yet, but the Anti world tour is set to begin in February.

Biafra: Some questions the would-be-Biafra-leaders need to answer

One may begin to wonder the reason for the agitation of the Republic of Biafra. It is only natural that a people will crave have freedom and become independent from the body which they no longer feel aligned with.

                In Spain, for some reason, a part known as the Catalonia have over the years demonstrated for a referendum to be an independent state. And in Sudan, South Sudan became independent in July 2011, having felt oppressed and marginalized by the North. The case of Sudan may well appeal to the situation of Nigeria. South Sudan had claimed that the North took over power and controlled the state after their independence from Western colonial masters, even though the oil in the South was the primary resource of the country.

                However, South Sudan has had no peace since its independence from Sudan. In this line, it brings to focus questions the ‘would-be-Biafra-leaders’ need to address in their bid to secede from Nigeria.

To begin with, South-east is one of the difficult, if not the most difficult, places to live in Nigeria – by difficult, I mean expensive, demanding and unfavourable for the poor, and so are the parts of South-south states that are included in the prospective map of Biafra. Should Biafra succeed in seceding from Nigeria, will the country be too expensive and difficult for its average citizens? This is one issue Biafra agitators should address.

Again, Nigeria is considered by many as a very corrupt and insecure country – it is defined in many negative terms. The question is if Biafra can be better than Nigeria. Nigeria is also a country with a high unemployment rate and South-east does not boast of much employable companies. That leaves one wondering if Biafra will be worse than Nigeria in the field of employment should they become an independent state.

South-east tertiary institutions are not better than other top tertiary institutions in other parts of Nigeria. Should the region become a republic of Biafra, will education be a worse nightmare than what we currently have in Nigeria?

My proposition is for South-east government to begin a process of building superpowers, industries, and making their institutions something to write home about if they actually have strong dream of becoming a republic of Biafra. South-east should be start now to be better than other regions in the country. United States is on top of the world today because they came off the back of a country that dominated the world. It will be an underachievement for the republic of Biafra if it were to secede from Nigeria and still be either the same or worse than Nigeria.