SOCIETY WATCH; NIGERIAN ACCOUNTING STANDARDS BOARD: A DAY WITH EDITORS

Accounting is normally a boring subject. That is if you do not like figures like me. On Tuesday, May 11, 2011, Godson Nnadi, chief executive who lives and breathes figures, made a deep impression on everybody present at the NASB Day with Editors at the Sheraton Hotels. It was a quarterly interactive session with business editors.
Godson Nnadi is a hard boiled professional who has steered the affairs of NASB with a dedicated and futuristic executives, all committed to transforming and creating world class standards in accounting procedures for Nigerian companies.
He has been head boy since 1992 when the Federal Government took over NASB and he has been privileged to work with 16 ministers.
NASB is not usually talked about in the media but I was impressed with the quality assemblage of business editors and the various programmes put forward by the board to educate stakeholders in the financial reporting work-place about the need to adhere to world approved best practices in accounting.
The session was stormy, the questions where thrown with fervour. Nnadi Godson took a swing at all the questions with convincing answers.
He talked about why the board did not make public its sanctions on defaulting banks over accounting standards. He said it was because of the sensitive nature of banking.
He stressed: But we passed information to the apex regulating agency of banks, the Central bank of Nigeria and we are sure it helped them in taking decisions about the status of the banks.”
Answering the last question on inadequate regulation in accounting practice, he said that “the problem is not the issue of inadequate standards, but managers wanting to make their business look good.”

Why Senator Ahmed Markafi was dropped as Vice President nomination
Alhaji Ahmed Mohammed Markafi, born August 8th, 1956, former governor of Kaduna State and now a serving senator representing Kaduna North, was dropped from the list of vice presidential nominees because of his health condition.
Informed sources revealed that Markafi was one of the most viable candidates put forward by the governors forum and during last minute screening of his health certificates, it was discovered that he had been suffering from sickle cell anemia; “he’s an SS patient,” SocietyWatch was told. The screening committee and security operatives were taken aback by this information and it was decided from the higher echelons that he be dropped based on that destabilizing fact. “They all said not again! Nobody wants another sickly person as vice president or eventually president,” our source revealed.
And that put paid his dream to be vice president.

DORA AKINYULI’ S CHILLING SILENCE
This might be part of her personal re-branding strategy and who knows, it might be working for her. In the past two weeks Information Minister, Dora Akinyuli has been chillingly silent in the affairs of the nation. Cleverly she has not allowed herself to be dragged into any controversies, refusing to makde any policy statements on Jonathan’s administration.

I do not want to believe she has been ordered to shut her trap. Some people have said she has talked two much in recent times for her own good and therefore needs to let the storms settle after her speech concerning the cabal who seized the president.

Whatever the game plan is, we need to move forward; Nigerians need her back on stream. We admire her new candour and honesty; perhaps she can help us sell President Jonathan to the public. I will never know why the Yar ‘Adua administration decided to sideline her when she could have been an asset. Anyway, let’s see how it goes.

Thumbs Up!
DELE MOMODU FOR PRESIDENT 2011
The question people have thrown at me in the past concerning the personal decision of my brother, Chief Dele Momodu to contest the presidency has been legion. Some have asked under which party platform? Where will he find the money? Who are his god-fathers? what has he achieved? Why does he not start with a lesser office? What state of origin will he front, Edo or Osun? Bla bla bla.
Policitics, I believe, and I have told a few I spoke o on this matter, should not be all about money and god-fathers. It should be about individuals and their genuine desire to serve, having spelt out a programme for the electorate, bearing in mind that majority of those who have ruled us thus far had it thrust upon them by others. I welcome Dele Momodu’s decision to contest the presidency in 2011.
I have known Dele Momodu for about 20 years and I know he does not think like professional politicians who are cunning and hard to pin down on a promise.
Dele is a guy with a heart of gold. He is a humanist who lives up to his word and responsibility. What he brings to the plate is personal integrity; he might not have N400 billion like the Minna General to fritter on his ambition, but I know he is a good candidate. He is the kind of man Nigeria needs. A man who knows what suffering, poverty and hunger are all about. A man who remembers his roots and friends. Dele Momodu is not the kind of guy that will make the presidential election a do or die affair. So while some might jeer and sneer, and ask who the hell Dele Momodu thinks he is, I pledge my support, bells, whistles and all.



IPALIBO HARRY ON EXILE IN ABUJA
Former special assistant to governors Peter Odili and Celestine Omehia of Rivers State, Ipalibo Harry has joined his bosses in exile in Abuja.
Ipalibo, an adopted son of late political god-father of Niger Delta politics , Chief Marshal Harry of blessed memory, was allegedly implicated in the build-up to the murder of the late political torch bearer of the Kalabari people.
Marshall Harry it was, who singlehandedly installed Peter Odili as governor on the strength of which Ipalibo got into government and became stupendiously wealthy.
Sources say when Marshall Harry fell out with Odili, Ipalibo remained and became even closer with him (Odili) eventually becoming a member of the kitchen cabinet, a privilege he also enjoyed during the brief tenure of chief Celestine Omehia.
Following the publication of the Eso Panel white paper, Obuama youths declared Ipalibo persona non grata. The youths claim he is a foreigner to their community as his mother was a domestic help who came to Obuama in search of greener pastures through which he came under the wings of Chief Marshall Harry. So far nobody has come to Ipalibo’s defence to clear his name.
Said a source, “Ipalibo was very stingy when in office. It was street knowledge that he and Dr. Abiye Sekibo owned the companies that cleared refuse from Port Harcourt streets throughout Odili’s tenure for which they were paid about N10 million monthly. But he helped not his kinsmen.”
How sad! Chop alone….

STRANGE FACTS
1. In Tokyo a bicycle is faster than a car for most trips of less than 50 minutes.
2. The human body creates and kills 15 million red blood cells per second.
3. There are no clocks in Las Vegas casinos.
4. The King of hearts is the only King without a moustache on a standard playing card.
5. There is one slot machine in Las Vegas for every eight inhabitants.
6. Prince Charles and his son Prince Williams never travel on the same plane as a precaution against an air crash.
7. The Mona Lisa has no eye-brow. It was the Fashion in Renaissance France to shave them off.



ADULT JOKES;

A man bumps into a woman in a hotel lobby and as he does,
his elbow goes into her breast.
They are both quite startled.

The man turns to her and says, “Ma'am, if your heart is as soft as your breast,
I know you'll forgive me.”
She replies, “If your penis is as hard as your elbow, I'm in room 221.”
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ORJI UZOR KALU BLOCKS OFF INTERNET COVERAGE ON HIS NEGATIVE PAST

Have you tried accessing the Internet in search of ex-Governor Orji Uzor Kalu’s alleged criminal past, don’t bother. They no more exist on the internet. I spent hours last week looking for information on ex-governors who might be on Nuhu Ribadu’s watch list when he returns as Jonathan’s anti-corruption czar. His matter is no more available to nosy parkers.
I hear he has paid out good money to an Internet whizz to expunge anything uncomplimentary about him online. Can you imagine that nothing on The Sun newspaper acquisition exists anywhere on the world-wide web. Orji Uzor Kalu is being tried by EFCC for using funds belonging to Abia State to set up the publishing company and Slok Airlines. Smart? Na wa oh.

LKJ SELLS OFF JOHN WEST BUILDING TO PM NEWS
I got corrected on my piece about the resurrection of Alhaji Lateef Jakande’s publishing empire, because of the massive construction work going on at the site.
I have been reliably informed that the premises has been acquired by PMNEWS group who are expanding their operations to that facility. PMNews also has a press further down Acme Road where the new property is cited. It’s good to know that even in this meltdown economic businesses run by journalists are prospering and expanding.

DAAR COM INVESTORS WAITING FOR DOKPESI TO DECLARE YEAR END RESULTS SINCE 2008

Investors who bought into the IFO of Raymond Dokpesi’s DAAR Communications Plc are crying foul play and it might go into crisis mode anytime from now.
I hear they are screaming blue murder over High Chief Alegho Raymond Dopkesi’s refusal to declare year end results since 2008. What this means is that investors and shareholders are in the dark about the financial performances of the company and their returns.
Said source, “Can you imagine that we have not received any dividends since 2008.”
Need I say more?

HDV PLANS 250 ROOM HOTEL ON TOYIN STREET , IKEJA.

I am looking forward with excitement to when this new IBIS Hotel franchise opens its doors for business next door to Austin Eruotor’s White House Hotel on Toyin Street, Ikeja. I am still searching for the young Turks who own HDV and are planning a 250 room hotel. I hear they bought the franchise for 165,000 Euros.
My source revealed that all the rooms will be standard.
“They are targeting the business travel market. Busy executives who breeze in and out of town on with a concise budget looking for a comfortable accommodation in the Ikeja business district with close proximity to the airports “.
Work has started on site. I am reliably informed that the group brought in their own heavy duty construction equipments. I am still seeking information on how much the total project is worth. This is all very interesting.



Kill the anti-tobacco bill
I support Senator Kamorudeen Adedibu’s opposition to the passage of The National Tobacco Control Bill. His argument is that it will escalate unemployment in the country. According to statistics, over 600,000 are employed by tobacco farmers and ancillary services providers.

People are just trying to play politics with cigarettes. What is wrong if they are produced here and shipped all over the world, providing jobs for our people and taxes to oil our economy. Consumption taxes can be introduced but not an outright ban on production. Americans can afford to discourage cigarette producing companies because of the huge liability suits American courts have slammed on them. We are an economy that needs their business. For those who argue, and passionately too, that smoking causes lung cancer; I leave them with what Dr. Beko Ransome Kuti told Chief Gani Fawehinmi: “Something must kill a man.”