NIGERIAN FROM MY OWN EYE AND MORE: 02/08/10

Monday, February 8, 2010

First Round Wins for Federer, Serena Williams and Clijsters

First Round Wins for Federer, Serena Williams and Clijsters

Posted 31,Aug. 2009

Roger Federer

Roger Federer opened his bid for a sixth successive U.S. Open title by overwhelming teenage wildcard Devin Britton 6-1 6-3 7-5 in a first-round match at the Flushing Meadows today.

Federer needed only 18 minutes to win the first set against Britton, an 18-year-old American who won the 2009 NCAA singles title as a freshman and is ranked number 1,370 in the world.

Britton settled down in the final two sets but could not cope with the punishing ground strokes from the top-seeded Federer, who is seeking a record 16th grand slam crown.

The 28-year-old Federer broke Britton's serve to close out the one hour, 28-minute match under sunny skies and unseasonably cool weather at Arthur Ashe Stadium.

Serena Williams began the defence of her U.S. Open title with a straightforward first round 6-4 6-1 victory over fellow American Alexa Glatch.

Serena Williams

The world number two, looking for her third grand-slam title of the year and 12th in all, survived a lapse in concentration midway through the first set to advance in just over an hour.

Williams began strongly but was broken when serving for the opening set at 5-2 as world number 103 Glatch settled after a nervous start.

But she made no mistake second time round and then cruised through the second to set up a clash with Italian Maria Elena Camerin or Hungary's Melinda Czink.

Former world number one Kim Clijsters made a winning return to grand-slam tennis on Monday with a 6-1 6-1 win over Viktoriya Kutuzova of Ukraine.

The Belgian, playing in just her third tournament following a two year break during which she gave birth to her first child, overpowered the world number 79 in just 58 minutes.

Clijsters, the 2005 champion but a wildcard entry this year, won the first seven points and romped through the opening set in just 27 minutes.

Kutuzova could not cope with the Clijsters ground strokes and the 26-year-old will play either 14th seed Marion Bartoli of France or Paraguay's Rossana De Los Rios.

Obi Wins Anambra Governorship Election

Posted 7,Feb. 2010

Mr. Peter Obi The Independent National Electoral Commission, INEC has declared Peter Obi of the All Progressive Grand Alliance, winner of the Anambra state governorship election.

The Anambra State resident electoral Commissioner, Mr. Josiah Uwazuronye made the declaration on the morning of Sunday February 7, 2010.

Mr. Obi who is the incumbent Governor of Anambra state was voted winner ahead of key opponents such as Dr. Chris Ngige of the Action Congress, Professor Chukwuma Soludo of the People’s Democratic Party and Chief Andy Uba of the Labour Party.

Mr. Obi scored 97,843 votes, Dr. Chris Ngige of the Action Congress polled 60,240 votes, the Peoples Democratic Party’s Professor Chukwuma Soludo scored 59,365 votes, the Labour Party’s Dr. Andy Uba polled 26,106 votes, Uche Ekwunife of the Progressive Peoples Alliance scored 9,595 votes, Prince Nicholas Ukachukwu of Hope Democratic Party polled 20,77 votes, and Mrs. Uche Ekwunife of the Progressive Peoples Party polled 9,595 votes

Though the elections seemed relatively peaceful, there were complains of poor organisation by INEC and irrregularities at some of the pooling centres.

Meanwhile, the leadership of the All Progressive Grand Alliance APGA, is elated by Mr. Peter Obi’s victory.

The National Chairman of APGA, Chief Victor Umeh, told our correspondent Deji Bademosi, that Mr. Obi’s victory is a reflection of his performance in the state.

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.