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unfaithfulness

what would you do if you walked into your house and meet a man your wife addresses as her lover, and there is nothing you can do about it for he is the father of your two kids out of the four you though you have?

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EBERE C. LUCKY
KETU, LAGOS STATE, Nigeria
well am a nigeria from the niger/delta area of this great nation but if you love to know more about what am doing check me on eberewhite.blogspot.com
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LAGOS—INDICATIONS emerged, early in the week, that some top officials of the Nigerian Stock Exchange may have used their position to acquire
the exchange’s land at Temple Road, Ikoyi, for a meagre N495 million.


The land was said to have been paid for in four tranches with the following
First Bank’s draft numbers: 029128, 090755 and 818905. The payment was
alleged to have been made as follows: N 49 million in 2005; N 74.3
million; N100 million in 2006 and the final payment made on April 24,
2006.

Sources in the NSE said the land originally belonged to the Exchange.
This fact is one of the revelations of the ongoing audit of the accounts of
the exchange which auditors and forensic experts are said to have
described as misleading and meaningless according to comments made by
some of the auditors who are looking at the books.

Vanguard gathered that the auditors and forensic experts currently looking into the books
of the Exchange said the account contains some inconsistencies and
inaccuracies.

A source said: “What has so far been revealed is alarming and you will be surprised to see the extent of undercurrent in
the accounts. The figures are not very factual and there are so many
inconsistencies in what has been put together.”

But in defence of the allegations of wrong doings in the Exchange, former
Director-General and Chief Executive, Dr. Ndi Okereke-Onyiuke told
members of the Capital Market Committee recently that the Exchange
never exceeded budgetary approval nor falsify its account in anyway.

She said: “I wish to emphasise that the management of the Exchange never
exceeded budgetary approval by Council and if there is need for any
explanation on the published accounts of an organisation, the Board,
led by the Chairman, has the primary duty of offering insight, working
with the Chief Financial Officer of the organisation. In this instance,
I was neither the Chairman of the Council nor the Chief Financial
Officer of the organisation.”

Figures gathered from the NSE Management Account for the year ended December 2009 yet to be published showed that the
Exchange spent N 7 billion between 2007 and 2009 in market development
and N 1.230 billion in public enlightenment.

In 2007 alone, at the peak of the Exchange boom, market development gulped N 4.13 billion;
while it took N2.24 billion in 2008 and N 0.68 billion in 2009. In
three years, air travels swallowed up to N 2.52 billion, while N645
million was spent in 2007, N1.5 billion in 2008 and N 437 million in
2009.

In 2008, salaries and allowances of the staff hit N3.33 billion as against N1.58 billion budgeted, more than 100 per cent
increase.

The Exchange claimed that “the drastic staff cost was due to top level recruitment made during the period. Curiously in 2009, the
salary also came down to N 1.62 billion, raising question as regards
whatever happened to the top level staff hired in less than nine
months; either retrenched or disengaged.

In 2009, NSE made a deficit of N 2.752 billion. This apparently explained the NSE former
President, Aliko Dangote’s alleged insolvency of the Exchange.

Furthermore in 2009, NSE incurred interest expenses and similar charges of N37.9
million. In 2010, it budgeted increase in interest charges of N 45
million, implying continued borrowing or subsisting debts. Sources
further revealed that N1.6 billion was borrowed from CSCS account to
support the deficit cash flow of the Exchange.

This is good

LAGOS—INDICATIONS emerged, early in the week, that some top officials of the Nigerian Stock Exchange may have used their position to acquire
the exchange’s land at Temple Road, Ikoyi, for a meagre N495 million.


The land was said to have been paid for in four tranches with the following
First Bank’s draft numbers: 029128, 090755 and 818905. The payment was
alleged to have been made as follows: N 49 million in 2005; N 74.3
million; N100 million in 2006 and the final payment made on April 24,
2006.

Sources in the NSE said the land originally belonged to the Exchange.
This fact is one of the revelations of the ongoing audit of the accounts of
the exchange which auditors and forensic experts are said to have
described as misleading and meaningless according to comments made by
some of the auditors who are looking at the books.

Vanguard gathered that the auditors and forensic experts currently looking into the books
of the Exchange said the account contains some inconsistencies and
inaccuracies.

A source said: “What has so far been revealed is alarming and you will be surprised to see the extent of undercurrent in
the accounts. The figures are not very factual and there are so many
inconsistencies in what has been put together.”

But in defence of the allegations of wrong doings in the Exchange, former
Director-General and Chief Executive, Dr. Ndi Okereke-Onyiuke told
members of the Capital Market Committee recently that the Exchange
never exceeded budgetary approval nor falsify its account in anyway.

She said: “I wish to emphasise that the management of the Exchange never
exceeded budgetary approval by Council and if there is need for any
explanation on the published accounts of an organisation, the Board,
led by the Chairman, has the primary duty of offering insight, working
with the Chief Financial Officer of the organisation. In this instance,
I was neither the Chairman of the Council nor the Chief Financial
Officer of the organisation.”

Figures gathered from the NSE Management Account for the year ended December 2009 yet to be published showed that the
Exchange spent N 7 billion between 2007 and 2009 in market development
and N 1.230 billion in public enlightenment.

In 2007 alone, at the peak of the Exchange boom, market development gulped N 4.13 billion;
while it took N2.24 billion in 2008 and N 0.68 billion in 2009. In
three years, air travels swallowed up to N 2.52 billion, while N645
million was spent in 2007, N1.5 billion in 2008 and N 437 million in
2009.

In 2008, salaries and allowances of the staff hit N3.33 billion as against N1.58 billion budgeted, more than 100 per cent
increase.

The Exchange claimed that “the drastic staff cost was due to top level recruitment made during the period. Curiously in 2009, the
salary also came down to N 1.62 billion, raising question as regards
whatever happened to the top level staff hired in less than nine
months; either retrenched or disengaged.

In 2009, NSE made a deficit of N 2.752 billion. This apparently explained the NSE former
President, Aliko Dangote’s alleged insolvency of the Exchange.

Furthermore in 2009, NSE incurred interest expenses and similar charges of N37.9
million. In 2010, it budgeted increase in interest charges of N 45
million, implying continued borrowing or subsisting debts. Sources
further revealed that N1.6 billion was borrowed from CSCS account to
support the deficit cash flow of the Exchange.

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  • BBC News | News Front Page | World Edition
    Hundreds of kids to be tested for disease in Australia after childcare rape charge - A man has been charged with 70 offences, which police allege relate to eight children.
    1 hour ago
  • The Guardian World News
    Clashes and arrests in Turkey over magazine cartoon allegedly depicting prophet Muhammad - Turkey police face demonstrators after prosecutor orders arrests at LeMan magazine, whose editor-in-chief denies allegation and says image has been delib...
    2 hours ago
  • MarketWatch.com - Top Stories
    Cristiano Ronaldo’s new $700 million contract reportedly includes private jets and 16 personal staff. Here’s how that compares with perks for other top athletes and CEOs. - Portuguese star’s deal with Saudi club Al Nassr is set to be the most lucrative sports contract ever in average annual value
    6 hours ago
  • The Kitchn
    The Legendary $4 Trader Joe’s Dessert I Eat Practically Every Day During the Summer - It’s so good. *READ MORE...*
    8 hours ago
  • BBC Sport | Sport Homepage | World Edition
    'Not impossible' Mbeumo will stay, say Brentford - Brentford director of football Phil Giles says the club will only sell Bryan Mbeumo if the "deal is right" - and they have not ruled out the forward staying.
    14 hours ago
  • CNN.com
    Abortion and guns in 2024 spotlight -
    2 years ago
  • The Big Picture
    A funeral home copes with the surge during the coronavirus pandemic - During normal times, Joe Ruggiero Jr. might hold 25 funerals a month; this April there have been 71. Due to a surge in COVID-19 cases, his family’s funeral...
    5 years ago
  • La Tartine Gourmande
    Leftovers à la française - In the family, we rapidly nicknamed my mother “la reine des restes” (the queen of leftovers) because she’d make a point of keeping every scrap of food, kee...
    5 years ago
  • Jake And Amir Dot Com
    409: Secret Santa (w/Thomas Middleditch!) - ifiwereyoushow: Comedian, friend, and lover Thomas Middleditch is in the studio to discuss moving to Australia, the Super Flu, and the greatest gift of a...
    5 years ago
  • Dinosaur Comics
    ironically writing this comic WAS a very productive hour for me, so things are looking up for ol' ryan - archive - contact - sexy exciting merchandise - search - about ← previous June 19th, 2019 next *June 19th, 2019: *I'm back from Lethbridge! It was a great ...
    6 years ago
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  • MAKE Magazine
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Subscribe To Ebere

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My Blog List

  • BBC News | News Front Page | World Edition
    Hundreds of kids to be tested for disease in Australia after childcare rape charge - A man has been charged with 70 offences, which police allege relate to eight children.
    1 hour ago
  • BBC Sport | Sport Homepage | World Edition
    'Not impossible' Mbeumo will stay, say Brentford - Brentford director of football Phil Giles says the club will only sell Bryan Mbeumo if the "deal is right" - and they have not ruled out the forward staying.
    14 hours ago
  • CNN.com
    Abortion and guns in 2024 spotlight -
    2 years ago
  • Christian Science Monitor | All Stories
    Before history devolves into mythology: 2020’s best books on World War II - Historians grapple with the grimmest, toughest questions surrounding the war, about culpability, morality, and demagoguery during a fraught time.
    4 years ago
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