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Tuesday, 18 June 2019


                   Pelosi with Trump                                            

The retired partners of KPMG who are still awaiting their gratuity and pension have been mandated to intervene in the dispute between Republican American President Donald J. Trump and his Democratic nemeses with Nancy Pelosi, Speaker of the House of Representatives as the leader of the pack who want the President impeached for grave crimes and misdemeanours.

In her preliminary submission, Mrs. Pelosi has taken great pains to protest vehemently that contrary to the agenda and narrative which Donald Trump has been spewing, she is the one remonstrating with her fellow Democrats not to launch impeachment proceedings midstream of Trump’s tenure. She would rather bid her time and wait for the 2020 elections when, according to the polls, whoever is the presidential candidate of the Democratic Party is expected to trounce Trump.

In any case, for the impeachment to succeed, it would require a two-thirds majority of the Senate which is under the control of the Republicans.
Regardless, the caucus of the Democratic Party is hell-bent on going for Trump’s jugular now - before Trump inflicts irreparable damage on the United States of America and its allies.

This totally unexpected honour and rare privilege, which came entirely out of the blue has put us in a huge quandary. This stupendous engagement unfortunately conflicts with our previous commitment to honour a long-standing invitation from Mr. António Guterres, the Secretary-General of the United Nations to present our case to the General Assembly which unlike previous years will take all of the rest of this year – due to climate change!!
While we are wrestling with the problem, other matters have crept up. Here is a random sample:

Front page “The Guardian” newspaper May 3, 2019
  i.)        “UNEMPLOYMENT RATE TO REACH 33.5% BY 2020, SAYS FG”
“Nigeria’s unemployment rate may reach 33.5 per cent by 2020, says the Federal Government.

According to the News Agency of Nigeria (NAN), Minister of Labour and Employment, Chris Ngige, said this yesterday in Abuja while declaring open a two-day workshop on “Breaking the Resilience of High Unemployment Rate in the Country.”
He said the incessant increase of unemployment in the country was alarming.

According to him, the high unemployment rate of 23.1 per cent, and under-employment of 16.6 per cent by the National Bureau Statistics (NBS) of 2019 report was alarming.
Ngige, who stated that various government social intervention programmes targeted at reducing youths’ unemployment and eradicating poverty had been implemented by different administrations since Nigeria gained independence, said that available records showed that between 1972 to date, about 14 different programmes had been implemented.
He said these programmes included the National Accelerated Food Production Programme (NAFPP) and the current National Social Investment Programme (NSIP), which had been embedded in the National Economic Recovery and Growth Plan (ERGP) 2017-2020.
He noted that the unemployment rate and poverty levels are on steady paths of growth, indicating high resilience against the intervention efforts.
The minister said that the workshop was aimed at presenting the outcome of some of government’s efforts and the commencement of another phase of the processes.
J.K. Randle

He, however, called for a collaborative mechanism that would yield desired results while assuring that the recommendations from the workshop would receive prompt and sustained attention.
Also, the Permanent Secretary of the ministry, Mr. William Alo, said the workshop was aimed at examining issues around the persistent high unemployment rate in Nigeria.
“This workshop is very important to the Ministry of Labour and Employment due to the direct relevance of the theme to the ministry’s mandate.

However, the fact remains that the consequences of high unemployment rate in Nigeria affect each and every one of us as individuals and as members of the Nigerian society,” he said.
Meanwhile, while Mr. Dennis Zulu, Country Director, International Labour Organisation (ILO) in Nigeria, said that unemployment was a major concern to the organisation, especially in Nigeria, Director, Special Duties/Projects of the ministry, Mrs. Martina Nwordu urged participants to keep to the objectives of the workshop which aimed at achieving the goals of reducing high unemployment rate in Nigeria.”

“Providence yesterday saved a 17-year-old girl, Rachel, when she was rescued by some residents from the hands of a three-man gang of suspected ritualists, who abducted her along Ibasa Road, Alasia, Ijanikin, a Lagos suburb on Wednesday.
The girl, an apprentice in a make-up studio, was sent on an errand when she was abducted by the kidnappers, who took her to their shrine in an obscure area on Dan Ajayi Street, Alasia, Ijanikin at about 7:30a.m.
It was gathered that the suspects had allegedly perfected the plan to kill the young girl for ritual, but luck ran against them when she suddenly regained consciousness and screamed “Blood of Jesus”.
A neighbour, Tochukwu, said the suspects allegedly hypnotized the young girl before they took her away. It was learnt that the ritualists allegedly touched the girl with a charm, which made her to follow them unconsciously.

It was further gathered that the suspects took the girl to a house, where they intended to prepare her for ritual sacrifice before the bubble bust. All three suspects escaped through the bush.
Narrating what transpired, Tochukwu said Rachel followed her abductors like a ‘zombie’ without knowing where she was being taken to. “The suspects were already preparing the girl to be used when some neighbours heard her scream. The shrine, where they took her to was behind an isolated house on Dan Ajayi Street. The suspects took to their heels when they knew that the game was up,” the eyewitness said.
Another witness, Chika Ugochukwu, alleged that the ritualists only moved into the area last year, adding that nobody took notice of their activities since where they reside was isolated from other houses. Chika added that she still could not believe that those who lived in the house along with others were ritual killers.

She said ritual killers are no respecter of age, as both the young and the old fall prey to their hypnotism and knives, adding that she had often read of innocent adult and children who constantly fall victims. “Most vulnerable are school children, young ladies, especially undergraduates, pregnant women and the elderly,” she said.”

“Some ladies, who were convicted by a mobile court for alleged prostitution yesterday painted gory details of how they were harassed, molested and assaulted by some men of the Nigeria Police in the Federal Capital Territory (FCT), Abuja.
The ladies, who narrated their ordeal to newsmen in Abuja, alleged that policemen attached to Utako, Life Camp and Gwarimpa police stations in Abuja, the nation’s capital, raped and physically assaulted them in custody. They also claimed that they were compelled to plead guilty when they were arraigned before the court on Monday by the police.
They all spoke anonymously for fear of being victimised by the police while facing the wall. The ladies said they were arrested at a nightclub, thrown into a cell and repeatedly tear-gassed.
A fair complexioned victim explained that a policeman attached to the Utako police station identified as ‘Yellow,’ hit her with a baton and horsewhip several times, injuring her arm and face during the assault. Her experience was corroborated by her co-convicts who lamented the alleged emotional abuse and physical torture they suffered while in police cell last week.

Another victim, who claimed to have been arrested at a shopping plaza, said the policemen attached to the FCT ministerial task raped her when she could not pay them. The lady said she was held down by three policemen while one of them raped her without a condom.
She also said two other girls were raped by the same policemen. “Three of us were brought out of the van and raped by the policemen because we had no money to give them. We were raped behind the National War College. They pushed me to the ground and held me there while one of them raped me. He didn’t wear a condom. The other girls were also raped by two others one of who used a pure water sachet as condom.”
Another victim said she was picked up by the police at a hotel where she attended a birthday party. She said: “I was invited to a birthday party at an apartment in a hotel. I came to the reception to get bottled water, a woman held my hands and pushed me out of the hotel and I saw a lot of people with cameras and some with mobile phones taking my pictures and shooting a video of the arrest.”
iv.)        Nelson Mandela
“Lead from the back and let others believe they are in front.

 v.)        Front page headline: “Vanguard” newspaper May 3, 2019


“Pastor Samson Farounbi has told an Idi-Ogungun Customary Court, Agodi, in Ibadan, that the small size of his manhood made his estranged wife to deny him sex for a long period.
Farounbi disclosed this on Monday when testifying before the court on a case of divorce he instituted against Tope Farounbi.

He had requested the court to end their 19-year union on the grounds of unrest of mind, threat to life and lack of respect for his family.
Narrating his ordeals, Farounbi said his wife, who was a fruit seller, used to return home at late hours every day and refused to have sex with him.
“There was a day I challenged her why she always returned late and denying me sex.
She confessed that the small size of my penis was responsible for keeping late outside and for refusing to have sex with me.
She suggested to buy local herb for the treatment of my micro penis, which cost N5,000, but I priced it down to N4,000.
I got myself treated with the Agbo (local herb), but she still felt reluctant to allow me have access to her body,” he narrated.
The pastor further alleged that the defendant maltreated his mother when she was living with him and that the ill treatment forced his aged mother to relocate to Ilesha, where she died a few months later.
He told the court that Tope used to curse every member of his family and always cursed his blood brothers whenever they visited him.
“My lord, she is a devil, always fighting people, especially females that come to my church for prayer, accusing me of flirting with them.
We have never stayed beyond two years in every house I rented since we married 19 years ago due to her stubbornness and troublesome character.
The five children of our union lack home training and she always cursed me whenever I tried to correct any of the kids for doing wrong things.
In fact, our first child has run away from home now and I cannot even locate his whereabouts.
I urge the court to separate us so that I can have peace of mind to do my pastoral work,” he pleaded.
In her defence, Tope denied all the allegations but urged the court to dissolve the marriage as requested by the plaintiff.
She accused her husband of womanising, saying he never cared for her welfare but was in the habit of drinking alcohol.
President of the court, Mr. Mukaila Balogun and the two court assessors — Messrs Wahab Popoola and Alao Ganiyu — in their unanimous decision dissolved the marriage.”

“No fewer than 16 people are feared dead following cult crises that broke out in two different local government areas of Rivers State, last Sunday.
It was alleged that 14 people were killed by the said cultists at Kono Boue and Gbam Boue communities of Khana council, while two people were killed in Ishiodu village, Emohua community, Emohua council. It was also gathered that seven people were abducted when the bandits struck at Khana council, while many properties were also destroyed.
However, there are conflicting reports on the number of deaths in the Khana incident. Whereas some reported 20, others said 14, while the Police claimed five people lost their lives.
The clash in Khana is believed to be a reprisal attack from the Iceland cult over the killing of a notable member of their gang earlier.
The Paramount Ruler of Kono Boue community in Khana council, HRH, Mene Taalor Tornwe, described the incident as shocking, adding that the cult boys were incited against him and other members of the community.
Tornwe, while condemning the killings and burning of his palace and other buildings by the cultists, noted that he had carried out the instruction of the governor of the state to restore peace in the area, but regretted that some persons incited the cultists against him.
Also, the Community Development Committee Chairman, Prince Christian Borlo-One, alleged that over 40 persons were feared killed, adding that some persons were beheaded and five abducted. He also called on the government and security agencies to urgently intervene so the community will not be totally deserted.
Meanwhile, the Rivers State Police Command’s Public Relations Officer, DSP Nnamdi Omoni, said the Police are aware of the incidents, noting that two people died in Ishiodu village and five in the Khana incident.”

vii.)        Abraham Lincoln
“Nearly all men can stand adversity, but if you want to test a man’s character, give him power.”

viii.)        Front page headline, “The Punch” newspaper May 21, 2019

ix.)        Front page headline “The Nation” newspaper May 21 2019

 x.)        Ayn Rand
“The ladder of success is best climbed by stepping on the rungs of opportunity.”

xi.)        Front page headline, “The Sun” newspaper May 11, 2019
·        Disturbing details of an epidemic ravaging a mega city
·        Rise in number of patients with drug-related mental disorders worries experts.
“Although there has been pervasive advocacy and onslaught by security agents to check hard drug peddling and abuse in Ibadan the capital of Oyo State, the menace rather than go away, appears to worsen, bulging into an ogre and digging a cesspool that daily claims and sucks more victims into its vortex of death, evil, bankruptcy, depression, despair and destruction.”
xii.)        KILLED BY HUNGER: Son of Kogi State judiciary worker who slumped and died after being owed salaries for months tells heart-rending story of her last moments.

xiii.)        Front page headline: “Vanguard” newspaper May 11, 2019

xiv.)        Front page headline: “The Nation” newspaper May 9, 2019
“WHY LAGOS, ONDO, NIGER, BENUE, IMO, CROSS-RIVER, OTHERS MUST PREPARE FOR FLOODING.” – Alhaji Suleiman Adamu – Minister of Water Resources
“All the thirty-six states of the Federation including the Federal Capital Territory are expected to experience different levels of flooding. I can say we have almost six hundred local government areas in Nigeria that could be under the threat of floods in 2019, going by our predictions. No person should build structures within the flood plains. People should clean their drainages.”

xv.)        Front page headline: “Nigerian Tribune” newspaper May 9, 2019

xvi.)        Front page headline, “The Punch” newspaper May 9, 2019
“THE EVIL I FEARED IN PDP HAS BEFALLEN ME TEN TIMES IN APC – Rochas Okorocha, outgoing Governor of Imo State

xvii.)        Napoleon Hill
“If you cannot do great things, do small things in a great way.”

xviii.)        Front page headline, “The Guardian” newspaper May 23, 2019
“MANY PEOPLE DON’T BELIEVE BUHARI CRACKS JOKES LAUGHS – Dr. Chris Ngige, Minister of Labour and Employment
“He gave Babatunde Fashola three ministries – Power, Housing and Works and gave Dr. Chris Ngige two ministries – Labour and Employment.”

xix.)        Harvey Mackay
“One mistake will never kill you. The same mistake over and over will.”

xx.)        Professor Pat Utomi
“I was glad I said “why not” because I could not have found out how rotten the apple was and how close Nigeria is to a criminal hijack of the political parties by the three gangs of actors. They are, those in the enterprise of transacting around public office for material gain; the cultists who have bullying as their way and hope to intimidate others; and the new fascists whose high comes from total domination of others.”

xxi.)        Joe Biden (former Vice-President and Democratic Presidential candidate for 2020 elections)
“I am running in order to offer our country a different path. Not back to a path that never was but to a future that fulfils our true potential as a country.”

xxii.)        Bill Keane
“Yesterday is history, tomorrow is a mystery, today is a gift of God, which is why we call it the present.”

xxiii.)        Front page headline “Saturday Punch” newspaper May 25, 2019
“I went back to kidnapping to pay my lawyer’s balance.” – Suspect

xxiv.)        Front page headline, “Daily Trust” newspaper of May 29, 2019

xxv.)        Front page headline, “Daily Independent” newspaper of May 29, 2019

xxvi.)        Ayn Rand (Philosopher)
“Every man is an end in himself, not the means to the end of others.”

xxvii.)        Aristotle (Philosopher)
“In vain do you build the city if you do not first build the man.”

xxviii.)        Front page headline, “Daily Sun” newspaper of May 24, 2019

xxix.)        David O. Mckay
“The most important of life’s battles is the one we fight daily in the silent chambers of the soul.”

It turns out that the reason the secretary-general of the United Nations, Antonio Guterres is eager to table the issue of retired partners of KPMG who are still awaiting their gratuity and pension, before the United Nations General Assembly is on account of the front-page report of the “Financial Times” of 18 April 2019

· Competition and Markets Authority seeks operational split
· Demand falls short of break up
· Firms open to rethink
“The UK’s competition watchdog called on Thursday for rapid legislation to end the dominance of the Big Four accounting firms and address problems of poor working practices and conflicts of interest in the scandal-hit audit sector.
The Competition and Markets Authority [CMA] stopped short of demanding a full break-up of Deloitte, EY, KPMG and PwC following strong criticisms of the firms after a series of auditing failures, including audits of BHS and Carillion. However, it recommended that the firms split their operations by separating their audit businesses from their consultancy arms.
And, in an effort to increase competition in the audit sector, the CMA also said that UK-listed companies should be required to use two audit firms to check their accounts, with one being from outside the big four.
Andrew Tyrie, chair of the CMA, said he had lost patience with repeated reviews of the accounting sector. “Just carrying on doing more reviews is not going to take us very far,” he told the Financial Times. “We now have to make a start and that’s going to require legislation.”
The CMA recommended that the government bolster impending legislation to create a new accounting regulator by giving it powers to oversee the splitting of accounting firms’ audit businesses from their consulting arms, and to supervise the joint auditing of listed companies.
“Millions of people are relying on high-quality audits to help allocate their savings, their pensions, their livelihoods and their jobs, so it matters to all of us a huge amount that this job be done well,” said Lord Tyrie.
The CMA review of the audit sector was instigated by Greg Clark, business secretary, in September, with the aim of rapid action to address the problems.

The Financial Reporting Council, the existing accounting regulator accused by critics of being too weak, found last year that more than a quarter of audits fell short of quality thresholds.
Mr Clark said in a statement that the CMA had provided a “strong evidence base” and promised to “bring forward reforms to ensure the UK remains a place offering the highest standards in audit”.
The business department said it would respond to the CMA’s proposals in due course.
The CMA’s main proposal for accounting firms to deliver an “operational split” would require them to have separate boards, management, accounts and bonus pools for their audit and consulting businesses. But the functions would remain within single entities.
The competition watchdog also called for “an end to profit-sharing between audits and consultancy, and promotions and bonuses paid on the quality of audits”.
Lord Tyrie said if conflicts of interest persisted within the accounting firms, a full break-up might be needed in the future.
The CMA’s main proposal to improve the resilience of the accounting sector is to require that most of the UK’s listed companies use two audit firms, including at least one outside the Big Four.
Lord Tyrie said mandatory joint audits were likely to apply to FTSE 350 companies, although the most complex groups, probably the 30 largest, would be exempt because their businesses were too complicated for the smaller firms.
He added that as the challenger firms grew in size, the requirement for joint audits was likely to be extended to all listed companies, including the largest groups.
The CMA chair accepted that the plans would put an additional financial burden on companies, but said the cost of audit was currently only 0.05 per cent of revenue on average and the benefits of trustworthy accounts were worth it. “The fact is more needs to be spent on audit,” he added.
The competition watchdog made clear that if its plans did not improve competition and performance in the audit sector, more draconian action would be needed.

If little had changed after five years, it suggested the new accounting regulator should also have powers to select auditors for companies rather than allowing groups’ audit committees to decide.
PwC cautiously welcomed the CMA’s proposals, saying it recognised “the importance of increasing trust in audit”.
However, the potential impact of the CMA’s recommendations needed to be “well thought through to ensure they deliver the desired outcomes and avoid any unintended consequences”, it added.
John Allan, president of the CBI, said the CMA review risked damaging Britain’s reputation for effective corporate governance. “Operational splits could restrict access to the skills required to carry out complex audits,” he added.
Rachel Reeves, Labour chair of the Commons business committee, which this month called for the break-up of the big four firms, welcomed the CMA’s proposals to “end the stranglehold of the big four”.
“There is a clear consensus on how to restore confidence in the market,” she said. “It’s now up to the government to deliver, by coming forward with legislation to ensure that audits provide what businesses, investors, employees, pension-holders and the public expect.”

Bashorun J.K. Randle is a former
President of the Institute of Chartered Accountants of
Nigeria (ICAN) and former Chairman of KPMG Nigeria and Africa
Region. He is currently the Chairman, J.K. Randle Professional Services.


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