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Re: ‘The ABC of a Recalcitrant Debtor’: Shaka and Yellow Journalism

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Few things rival honesty as the primary characteristic of a reputable journalist. Fairness, objectivity and honesty are three key factors that every good journalist must not jettison in his/her stories. While every journalist works hard to ensure he earns the trust of his audience, it is worth knowing that dishonesty is the surest way to violate that trust, Danjuma Gogo writes.

I read on Friday, February 5, 2021 the story in ThisDay Newspapers written by my brother Shaka Momodu which he titled “The ABC of a Recalcitrant Debtor”. Only that headline caught my attention far away here, making me to go deeper into the article. No doubt I am not the only one who read it.

Just like every other reader, I have followed till date Shaka’s style of writing and will still be reading him even when he often writes what seems to please his personal interest and his paymasters than the desires of his audience he often claims to be writing for.

After reading Shaka’s ‘The ABC of a Recalcitrant Debtor’, what first came into my mind was how a renowned journalist Femi Adesina who is the spokesman of Nigeria’s President had described him in his article on January 13, 2020. Adesina had titled that piece “Shaka Momodu: A Columnist as Hater-in-Chief” … Sorry I wouldn’t like to deviate here.

I recall that my brother Shaka Momodu said in his February 5 write up that “The latest in the pantheon of bad debtors, who are either refusing or unwilling to pay back their loans, is the Chairman of Seplat Petroleum Development Company Plc, ABC Orjiako.”

Dear Shaka, I would have loved to read from your piece all the bad debtors you know and those who are either refusing or unwilling to pay back their loans because you wrote as if you have their list. So why single out one man? At that point, I didn’t need a soothsayer to tell me how Shaka will proceed and end the article knowing fully well that Access Bank Plc and Seplat Petroleum Company Plc have been entangled in legal tussle in the former’s misdirected efforts to recover an outstanding $85.8 million loan given in 2012 to Cardinal Drilling Services Limited by Diamond Bank (now Access Bank) which Cardinal was yet to offset.

Like every other public commentator, I have followed developments around the botched crusade on December 2, 2020 when the bank tried so hard to take aback the Nigerian corporate world using a team of fully armed policemen and lawyers, who in a commando approach took over and disrupted businesses and activities at the No. 16 Temple Road, Ikoyi Lagos corporate office of the Nigerian oil and gas giant, Seplat Petroleum Company Plc. Thanks to the Court as the last hope of a common man…

Like every other person interfacing with global investors, I became worried when Seplat’s application for the vacation of the orders was not ruled on by Justice Rilwanu Aikawa on December 24, even though it had been argued by both parties, thus halting corporate activities of the global brand.

My dear brother Shaka, you know how economical you were with the truth in that piece by describing ABC Orjiako as the sole owner of Seplat knowing fully well that the company listed on both Nigerian and London Stock Exchanges is a public company whose ownership is distributed amongst general public shareholders.

Shaka, as it has been reemphasized severally, aren’t you aware that as chairman of Seplat, Orjiako was not a party to the loan agreements or Deeds of Debenture, and did not stand as a guarantor or make any commitment whatsoever in respect of the loan at any point? Rather, Access Bank had filed action against him as the Third Respondent, which you know is in flagrant violation of well-established and universal principles of law.

The Appeal Court had on January 22, 2021 intervened in the miscarriage of justice, by suspending the interlocutory orders pending the determination of the substantive appeal brought by the oil firm. Expectedly, the Appeal Court’s ruling was predicated on public good and economic consequences of the lower court’s orders.

Shaka, please be fair to readers and ensure your personal feelings most time on any critical issue is put aside in order to unleash the truth –that is good journalism.

Danjuma Gogo, an economist and a public affairs analyst is based in Houston Texas (+1 832-774-2176)

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Sport Business

Usyk Claims Victory Over Fury in Historic Bout, Becomes Undisputed Heavyweight Champion

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Oleksandr Usyk emerged victorious over Tyson Fury to claim the title of undisputed heavyweight champion.

The highly anticipated bout, held in Riyadh, Saudi Arabia, showcased the remarkable skill and determination of both fighters, culminating in a split-decision victory for Usyk.

From the opening bell, the tension was palpable as Fury, the reigning WBC champion, and Usyk, the unified cruiserweight champion, squared off in the ring.

Fury, known for his towering stature and formidable punching power, sought to impose his will early on, using his reach advantage to keep Usyk at bay.

However, Usyk, undeterred by the size disparity, showcased his superior footwork and technical prowess, darting in and out of Fury’s range to land precise counterpunches.

As the rounds progressed, the momentum shifted back and forth between the two fighters, with each landing significant blows and demonstrating their resilience in the face of adversity.

Fury’s powerful punches tested Usyk’s chin, while Usyk’s speed and agility kept Fury on the defensive.

In the pivotal moments of the fight, Usyk delivered a masterful performance in the later rounds, capitalizing on Fury’s fatigue to unleash a barrage of punches that rocked the defending champion.

Despite Fury’s valiant efforts to rally back, Usyk’s relentless pressure and pinpoint accuracy earned him the judges’ favor, securing a split-decision victory and etching his name in the annals of boxing history.

With this triumph, Usyk joins the ranks of legendary heavyweight champions, becoming the first undisputed heavyweight champion since Lennox Lewis more than two decades ago.

His victory not only cements his status as one of the sport’s elite athletes but also signals a new era in the heavyweight division, characterized by fierce competition and unparalleled skill.

As the boxing world reels from the electrifying showdown, fans and pundits alike eagerly await the prospect of a rematch between Usyk and Fury. With both fighters showcasing their championship pedigree, the stage is set for another epic clash that promises to captivate audiences worldwide.

In the aftermath of his victory, Usyk expressed gratitude to his team, his country, and his faith, attributing his success to hard work and dedication.

Meanwhile, Fury, while disappointed with the outcome, vowed to bounce back stronger and reclaim his title in the anticipated rematch.

As the boxing world celebrates Usyk’s historic achievement, his victory serves as a testament to the enduring spirit of sportsmanship and the unyielding pursuit of excellence in the noble art of boxing.

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Education

JAMB Releases 36,540 Withheld UTME Results, Dismisses Cyber Breach Claims

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The Joint Admission and Matriculation Board (JAMB) has quelled concerns over the integrity of the Unified Tertiary Matriculation Examination (UTME) results by releasing an additional 36,540 previously withheld scores.

This move follows earlier revelations of withheld results and assertions of a cyber security breach.

Fabian Benjamin, the spokesperson for JAMB, confirmed the release of these results in a statement issued late Tuesday in Abuja.

This latest batch of released scores, when combined with the 531 previously unveiled, brings the total number of results made public to 1,879,437.

Benjamin took the opportunity to address circulating rumors regarding the security of the UTME results.

He categorically dismissed claims of a cyber security breach, saying that the examination outcomes remain intact and securely stored.

He stressed that the results are not stored in any cloud system and thus cannot be compromised by external entities.

At the time of the UTME release, JAMB had disclosed that certain results were withheld pending further investigation.

Subsequently, 531 of these results were recently unveiled with the remainder still under scrutiny.

Benjamin explained that any candidates implicated in examination malpractice are undergoing thorough investigation.

The examination board intends to meticulously review footage from CCTV cameras installed across all accredited centers to ascertain each candidate’s involvement.

Benjamin urged the public to remain vigilant against misinformation originating from sources not affiliated with JAMB.

He attributed the discrepancies in minimum admissible scores to variations among tertiary institutions. Some institutions, he noted, proposed lower minimum scores than others, resulting in varying benchmarks.

Benjamin clarified that these benchmarks are determined collectively by all Heads of Institutions during the annual Policy Meeting on Admissions, ensuring uniformity across the country.

Also, Benjamin cautioned religious organizations against overstepping their designated roles.

He warned against the dissemination of false information to governmental bodies for personal gain.

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Travel

British Airways Owner IAG Prepares for Summer Surge Amid High Travel Demand

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british-airways

As the world gradually emerges from the grip of the pandemic, the travel industry is witnessing a resurgence in demand with British Airways owner IAG SA gearing up for a busy summer season.

Despite lingering challenges, the airline conglomerate remains optimistic about the outlook, citing strong demand for travel within Europe and across the Atlantic.

In a recent stock exchange filing, IAG disclosed an adjusted operating profit of €68 million ($73.3 million) for the three months ending March.

According to Chief Executive Officer Luis Gallego, the group’s core markets, including the North Atlantic, South Atlantic, and intra-Europe routes, have shown robust performance, positioning them well for the upcoming peak travel period.

With vaccination rates increasing and travel restrictions easing in many parts of the world, consumers are eager to resume travel plans, fueling the surge in demand.

However, the road ahead is not without its challenges. While travel within Europe and across the Atlantic remains strong, other regions present a more complex operating environment.

The ongoing conflict in the Middle East has dampened demand for certain destinations, while airspace restrictions resulting from geopolitical tensions, such as the Russian invasion of Ukraine, have disrupted flight routes to East Asia.

Despite these hurdles, IAG remains resilient, banking on the strength of its core markets and the performance of its brands to weather the storm.

The company’s strategic positioning and proactive measures to adapt to changing circumstances have positioned it to capitalize on the rebound in travel demand.

As the summer season approaches, IAG is focused on ensuring operational readiness to meet the surge in passenger numbers.

With travelers eager to reconnect with loved ones, explore new destinations, and embark on long-awaited vacations, the airline group stands ready to facilitate safe and seamless travel experiences.

As vaccination campaigns progress and travel sentiment rebounds, IAG’s proactive approach and strategic investments position it as a key player in the aviation industry’s recovery journey. With optimism on the horizon, the company remains committed to delivering exceptional service and fostering a seamless travel experience for passengers worldwide.

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