MTN Finally Admit They Moved $13.9 Billion Out Of Nigeria Illegally (Full Story)

 
At the commencement of investigative hearing into the alleged illegal repatriation of $13.9 billion out of the country by MTN yesterday, the company told the Senate Committee on Banks, Insurance and Other Financial Institutions, that circumstances compelled it to move funds without observing the law.
The Senate had on September 27, 2016, alleged that MTN in connivance with the Minister of Trade and Investment, Okechukwu Enelamah, and four commercial banks exploited the porous Nigerian financial system to move the money out of the country without the required authorization.
According to This Day, the upper legislative chamber according to a motion moved by Senator Dino Melaye (Kogi West) on September 27, alleged that MTN smartly beat Nigeria’s financial regulatory laws by failing to obtain a certificate of capital importation (CCI) as authorised by CBN Financial and Miscellaneous Act within 24 hours between 2006 and 2016 before moving the money out of the country.
It further alleged that the repatriation was done through four banks, viz: Standard Chartered Bank, Stanbic IBTC, Diamond Bank and Citi Bank.
The Chief Executive Officer (CEO) of MTN, Fedi Moolman, admitted that the company moved funds without complying with the 24-hour order for the issuance of CCI, saying it was practically impossible to do so.
Nevertheless, he stated that the action was taken without any deliberate intention to flout Nigerian laws but was rather compelled to do so because of circumstances which he said made it impossible for it to observe the 24-hour provision in the Act for issuance of CCI.
He said: “There was no intention to flout the rule and regulation. The 24-hour rule is not in all cases practicable and it is almost impossible to comply with.”
However, the Chief Executive Officer (CEO) of MTN, Fedi Moolman, admitted that the company moved funds without complying with the 24-hour order for the issuance of CCI, saying it was practically impossible to do so.
Nevertheless, he stated that the action was taken without any deliberate intention to flout Nigerian laws but was rather compelled to do so because of circumstances which he said made it impossible for it to observe the 24-hour provision in the Act for issuance of CCI.
He said: “There was no intention to flout the rule and regulation. The 24-hour rule is not in all cases practicable and it is almost impossible to comply with.”

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Too Bad!! Ex-Governor’s Daughter Kemi Olunloyo Reveals Why She Does Not Enjoy Sex

 
Kemi Omololu-Olunloyo, the outspoken daughter of a former governor of Oyo state, Victor Omololu-Olunloyo, has revealed why she has not been enjoying s ex.
Olunloyo, known for her straightforward comments on social issues, told IBTimes UK during a recent interview that few African women (especially Nigerians) are willing to speak about their experiences with Female Genital Mutilation (FGM) which she claims is one of the reasons some of them have poor libido and urge for mating.
She has therefore advised such affected individuals to use s ex toys in order to get maximum satisfaction rather than sleep with men who are not likely to satisfy them.

“There was no anaesthetic and a sharp razor blade was used. I remember my sister and I screaming afterwards. We went home bleeding in diapers and, for a week, it was like we were little girls with menstrual periods. My mom was bathing us and diapering us. Deep down, mom was not happy for some reason.
“After years of resentment towards her mother, I finally confronted her in 2012. She burst into tears telling me that our late paternal grandmother ordered my dad to have us do it.
“This tradition is over 70-years-old. Our grandmother was a traditional Muslim woman who dictated many rules to her young son, my dad.
“Some women and girls, who undergo FGM, have their entire genitalia cut and “sewn closed.” My genitalia were only partially removed, meaning I did not experience difficulties while giving birth, however, the psychological and physical consequences of the mutilation still linger in my life.
“Calling it an operation is nothing. It was a cultural barbaric act used to decrease the female libido. It caused me post-traumatic stress disorder (PTSD) for life.
“I don’t experience org asm during s ex and when I tried to promote the use of s ex toys among Nigerian women, men started attacking me saying I was discouraging African women ‘from the real thing’.
“S ex is not important. I have no libido or urge to have s ex and I’ve been celibate for 10 years. Millions of women in Nigeria go through this, but they cannot talk or be outspoken like me. It is shameful and a disgrace to them.
“Many women say they fake org asms and others have husbands who go out to prostitutes and girlfriends. FGM has destroyed marriages here.
“My message to girls who have been through it is to stay strong and get into support groups. Its better to educate girls about s ex education the right way, instead of cutting part of their genitals off causing a lifelong traumatic problem,” Olunloyo cried out.

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Hmmm!! Fans Go Mad As Kiss Daniel Is Pictured With Heavy “Ukwu” Lady!

 The singer shared a picture from the video set of a song from his New Era album.

 

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How a Volcano in Japan Halted an Earthquake By Mindy Weisberger, Senior Writer

Ash drifts south from Mount Aso, a volcano on Japan's Kyushu island, on Jan. 13, 2015.

Credit: NASA Earth Observatory

Mount Aso, one of the most active volcanoes in Japan, recently helped to stop a powerful earthquake before it subsided on its own, researchers discovered.

When a 7.1-magnitude quake struck Kumamoto, Japan, on April 16, 2016, it opened surface ruptures in a zone extending 25 miles (40 kilometers) in length. But scientists found evidence suggesting that the powerful earthquake was halted by a magma chamber under the Aso volcanic cluster, located 19 miles (30 km) from where the quake originated.

This finding provided scientists with a rare glimpse of how two geological phenomena — volcanoes and earthquakes — may interact. This topic is of particular interest in Japan, which is particularly vulnerable to both volcanoes and earthquakes. [The 11 Biggest Volcanic Eruptions in History (Photos)]

An earthquake is a sudden release of pent-up energy in Earth's crust that has accumulated over time, generated by shifting tectonic plates. When two sides of a fault, or crack along a plate boundary, move apart or slide suddenly past each other, energy gets released. The waves of energy radiate outward from that jolt, often producing shaking on Earth's surface, according to the U.S. Geological Survey (USGS).

Japan is especially prone to earthquakes, as it lies in the Pacific Ring of Fire, a U-shaped area in the Pacific Ocean where several tectonic plates meet, and where many earthquakes are generated.

A number of volcanoes are also found in this Ring of Fire. And it was the particular interaction of the April 2016 earthquake with the Mount Aso volcano that triggered the researchers' interest in how seismic activity could be affected by the structure of volcanic clusters.

Shortly after the Kumamoto quake, the researchers visited the epicenter — the place on Earth's surface directly above where the earthquake originated — and spent 10 days investigating the ruptures left behind by the quake.

They discovered fresh ruptures that extended into Aso's caldera — a large, bowl-shaped depression at the volcano's summit — from the southwest to the northeast edge. And they abruptly ended there, at depths of 3.7 miles (6 km) below the surface.

Investigations of seismic activity deep under the caldera where the ruptures stopped indicated that there was a chamber holding magma — the same hot, fluid material called lava when it reaches Earth's surface — at that very spot,

Energy waves from the quake traveled toward Mount Aso through cool, brittle rock, the study authors wrote. But the sudden encounter with the extreme heat generated by rising magma under the volcano dispersed the energy upward and outward, sapping the strength of the quake's flow and stopping the rupture, they explained.

"This is the first case concerning the interaction between the volcano and co-seismic rupturing as we know so far," study lead author Aiming Lin told Live Science in an email.

Lin, a professor in the Department of Earth and Planetary Sciences at the Faculty and Graduate School of Science at Kyoto University in Japan, said that although this is the first reported evidence of a volcano putting a stop to an earthquake, there are other historical examples that could represent similar activity.

In 1707, ruptures generated by the Houei-Tokai-Nankai earthquake (magnitude 8.7) extended northward and eventually terminated at the western side of Mount Fuji, Lin wrote. And in 1930, the rupturing of the magnitude-7.3 North Izu earthquake was interrupted at the Hakone volcano in Izu Peninsula.

"Along this line, we are studying the interaction between the active faults — including co-seismic rupturing — and large earthquakes in Japan," Lin said.

This discovery could help researchers more accurately anticipate earthquakes' duration relative to their interaction with volcanoes, according to seismologist Gregory Beroza, deputy director of the Southern California Earthquake Center and a professor of geophysics at Stanford University.

"What it might mean for earthquakes is that magmatic systems might segment faults and, by doing so, limit the size of earthquakes in a predictable way," Beroza, who was not involved in the study, told Live Science in an email.

"This is just one earthquake, however," Beroza added. "No matter how interesting it is, or compelling it looks, it's potentially hazardous to generalize to future earthquakes."

The findings were published online today (Oct. 20) in the journal Science.

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