The Game has changed... by Reuben Abati

“MY brother, I think all the people saying they have not seen any change should by now be convinced that truly, truly, the game has changed.”
“Football? Euro 2016? Brexit?”

“What is wrong with you?”
“Or may be you are talking about the death of Stephen Keshi and Shuaibu Amodu and the fact that Nigeria’s House of Football needs to be re-organised.”
“I really don’t know what the matter is with you today. I always try to engage you in a conversation because I consider you smart, but your responses don’t make sense to me.”

“Game change. Well. I studied a bit of game theory in school not as a student of political science but as a generally curious student.”
“Who is talking about game theory?”
“Game theory is about political marketing, the relation between structure and agents, how power is deployed, structuration, the framework of power, the politics of structural and collective agency.”
“When you are tired of boring yourself, you will keep quiet. I am just saying the game has changed in Nigeria. I guess that is simple enough so stop quoting text books.”

“Ha, I get you now. I recall that the former Chairman of the PDP, during the election was snick-named the game-changer. Everywhere he went everyone said game-changer!”
“If you are dumb, or pretending to be dumb, good for you. I am talking about today’s Nigeria, you are talking about the past. Can’t you see, don’t you hear, don’t you feel it, that indeed, contrary to what we used to think, something indeed has changed…”
“Tell me.”
“Me? You mean I, me, myself?”
“What is that?”
“If you mean I, me, myself, I have nothing to say. And please note that because the times have changed, I have developed all kinds of problems with my senses.”
“Then you should go to London for treatment.”
“God punish you for saying that. Do you want to put my family in trouble? I forbid you to talk carelessly anywhere I am. If you are looking for trouble, go and look for it on your own. My mid-year resolution is that I will not hear any evil, speak any evil and see no evil.”
“Is that your game that has changed?”
“Na you sabi?”

AMCON expects loss from N4bn private jet sale

Managing Director, AMCON, Mr. Mustafa Chike-Obi

The Asset Management Corporation of Nigeria will lose money from the proposed sale of a N4bn Challenger private jet it took over from one of its debtors last year, the Managing Director, AMCON, Mr. Mustafa Chike-Obi, has said.

An online portal, aircraftcompare.com puts the cost of the Challenger jet at $27m (about N4bn).

Chike-Obi admitted that the corporation made a mistake by taking over the purchase of the jet from its debtor, who had deposited $4m with the manufacturers for its acquisition.

AMCON spent N1.7tn on non-performing loans — Chike-Obi

The Managing Director, Asset Management Corporation of Nigeria, Mr. Mustafa Chike-Obi, says AMCON has spent N1.7tn to buy non-performing loans of banks. He also talks about the race for the CBN governorship, in this interview with OYETUNJI ABIOYE

Employees of bridge banks are worried about who the eventual buyer of their banks will be. What is the progress report on the sale of the bridge banks?

I would advise the employees of any institution, bridge banks or otherwise, to focus on their jobs and how to make the bank or the institution a better place. I think that when employees start worrying about who may be the eventual owner of their institution, they are doing themselves and their institution a disservice. Their focus should be on performing their job as best as they can. It was very clear from day one that we stepped into these bridge banks for the purpose of saving depositors, saving employees and saving the banking system. That has happened.

Exchange Notified of N164bn Judgment in Access Bank Plc V. Erastus Akingbola & Ors.

Access Bank Plc has notified The Exchange that pursuant to its acquisition and subsequent merger with former Intercontinental Bank Plc ("ICB"), Access Bank Plc (“Access Bank”) assumed all interests in litigation matters involving ICB. It is against this background that Access Bank assumed the claims instituted by ICB in 2011 against Dr. Erastus Akingbola and others, before Justice Burton of the United Kingdom High Court of Justice, Queens Bench Division Commercial Court. Yesterday 31st July 2012, Mr. Justice Burton gave his judgment comprehensively in favour of Access Bank Plc in respect of all its claims totaling 164 Billion Naira against the defendants.

Access Bank would therefore like to inform the public that following AMCON’s injection of capital into ICB (now part of Access Bank) pursuant to the Scheme of Arrangement approved by the Shareholders of the then ICB, and sanctioned by the Federal High Court, AMCON made good all the losses suffered by the then ICB under Dr. Erastus Akingbola’s management. It is by virtue of AMCON’s intervention that the then ICB’s huge negative net asset position was restored to zero.