Sanusi warns against depletion of oil savings

… Says successor's main challenge will be independence

Agency Report

Central Bank of Nigeria Governor Lamido Sanusi on Thursday raised the alarm that Nigeria's oil savings were rapidly running out, and that his successor’s main challenge will be to maintain the independence of the institution as any undermining of that may hurt the economy.

According to him, Nigeria's oil savings in the Excess Crude Account (ECA) had now fallen to just $2.5 billion, compared with $11.5 billion a year ago, and that until they were replenished, there would be little room for a policy rate cut below the current 12 percent benchmark.

"We should continue to seek a stable exchange rate for as long as the reserves and monetary conditions can support this,’ Sanusi said.

On the independence of the apex regulatory institution, the banking guru stated that:

“If anyone tampered with it the markets would punish the economy. It’s extremely important from the fiscal side, it’s extremely important from the governance side, that the governor of the central bank is able to speak independently of political authority and raise an alarm and concerns and give constructive criticism and advice,” Sanusi told journalists in an interview with   at the World Economic Forum in Davos.

He ruled out a devaluation of the naira because it would "not affect the current account balance, given the highly inelastic nature of our imports and the dominance of oil".

The governor said he has “no fears” of tightening monetary policy further to keep inflation down and to stabilize the currency. The bank can increase its key interest rate from 12 percent and the cash reserve requirement on public sector funds to 100 percent if needed, he said.

“I don’t think we are at the end of possible tightening cycles, but I do think that the scope for further tightening is getting narrower and narrower,” he said. “We do need to rely more on other instruments.

"My strong view is that a stable currency is absolutely critical for price stability and financial stability in general," he said.

Central bank lifted the cash reserve requirement on public sector deposits held by banks on Tuesday, seeking to stabilise the naira and reflecting its concern about loose fiscal policy ahead of elections next year.

Nigeria's fiscal position always slips around election time, when spending on patronage to secure seats surges, but this one is expected to be the most closely fought since the end of military rule in 1999.

Foreign exchange reserves were $43.26 billion as of Jan. 20, down 4.4 percent from 45.26 billion a year ago, despite continued high oil prices. Sanusi has repeatedly urged the government to do more to rein in spending.

Earlier, Nigeria’s Finance Minister Ngozi Okonjo-Iweala expressed similar concern on  declining oil savings which she said have increased risk in the Nigerian economy, echoing concerns from the central bank Governor.

“We’re a little more vulnerable now than we were in the past,” Okonjo-Iweala, said in an interview from the same World Economic Forum in Davos.

The Excess Crude Account, used to cushion the economy against volatility, has been “spent down” to about $2.5 billion and needs to be increased this year, she said.

The Excess Crude Account, which holds the savings the nation makes when the oil price is above the benchmark price estimated in the budget, has been depleted just as Nigeria’s foreign-currency reserves have dropped 11 percent from last year’s peak of $48.85 billion in May.

N13bn transnational fraud exposes Nigeria’s corporate governance deficit

…As FIRS loses N1.6bn to ADWA 

...Forensic evidence nails MTN as debtors

By KELECHI MGBOJI

Facts have emerged how a British firm, Allan Dick West Africa (ADWA) Limited, a subsidiary of Allan Dick Company (ADC) United Kingdom, capitalized on weak corporate governance culture in the country to defraud local companies, banks and institutions of about N13 billion.

The UK firm which came as portfolio investors raised substantial funds through Nigerian financial institutions (names withheld) and subsequently transferred the money to companies and individuals’ bank accounts in the United Kingdom within short period of operation as telecommunications services provider.

To make matters worse, on the eve of their departure, the UK firm whose case files are currently being investigated by the Serious Fraud Office of London and the Economic and Financial Crimes Commission (EFCC) Nigeria, was discovered by liquidators to have destroyed every trace of their transactions in the country to cover up their tracks.

Court-appointed joint liquidators, Akinwumi & Busari and Ihekwazu &Co, both legal practitioners, told Exclusive Reporters which exclusively has been tracking the scandalous development that it was a classic case of transnational fraud that exposes the country’s weak governance culture.

The liquidators who confirmed they had petitioned the Serious Fraud Office, UK, and other relevant authorities both international and local are now working hard to muster evidence for subsequent prosecution of the parent company based in UK.

The firm incorporated in Nigeria on February 22, 2001 as a wholly owned subsidiary of Alan Dick & Company Limited UK, had obtained unsecured credit in the sum of N6 billion and N5 billion from two lenders whose platform they eventually used to transfer the funds back to their home country in the wake of the financial meltdown in 2008.

With huge liabilities hanging on their neck, by June 2008, directors of the firm initiated a members’ voluntary winding-up process which was contested in court by creditors and on December 17, 2008, the members’ voluntary winding up was substituted with a court-ordered liquidation on the application of the banks.  

In exclusive interview, the liquidators disclosed that they discovered that directors of Alan Dick carried out considerable number of fraudulent transfers of funds from Nigeria to the UK. According to them, financial department of Alan Dick West Africa (ADWA) was substantially run from the UK and documents were consciously destroyed.

Besides, the coincidence in the timing of the movement of funds from Nigeria to England and the period in which the English company was in financial difficulties raises a lot of questions and doubts.  

Furthermore, it was uncovered that dividend of N1.296 billion for the financial year ended 31 March 31, 2005, was paid at a time when the firm was operating at a loss and had negative shareholders’ funds.

Based on their findings, liquidators concluded that there was no need for the credit facilities (loan) of over N8 billion from the banks in view of the fact that ADWA was paid in advance for majority of its contracts.

During the period, it was discovered that the firm did not pay tax during the period, leaving a tax liability of about N1.6 billion without molestation by the Federal Inland Revenue Service (FIRS) whose staffers are believed to have compromised their status as federal government's revenue collectors.
FIRS was said to have gone to court challenging refusal of liquidators to pay to them tax liabilities of Allan Dick which liquidators contested in court.

When contacted, FIRS Director of Corporate Communications, Mr. Emmanuel Obeta, refused to comment on why and how the Service alolowed tax liability of N1.6 billion over five year period, saying that the matter is in a Lagos High Court.

But determined to pursue this classic case of cross-border insolvency to a logical conclusion, and ensure that the ADWA directors are held accountable for any fraudulent activities and ensure that they contribute to offsetting the liabilities of the firm, liquidators have petitioned the Serious Fraud Office, UK, and also enlisted the services of some authorities in the UK including international forensic accountants.

MTN connection

Our investigations authoritatively reveal how MTN filed credit claims to the liquidators, seeking to recover alleged debt of about N13 billion purportedly owed it by ADWA in liquidation which also failed to settle local sub-contractors for services rendered to its client, MTN Nigeria.

Liquidators said that forensic documents obtained by experts from Ghana which showed some of the financial transactions serially cleaned up, helped to nail MTN, and it turned out that MTN was actually a debtor to the UK firm.

Rest of the story and raging controversy over sharing of dividends of realized assets of Allan Dick is for next edition. Keep date with our next edition.

Caller tunez: MTN defrauds subscribers over N2.7bn monthly
By KELECHI MGBOJI
Nigeria’s telecommunication giant, MTN, has come under widespread criticism in the last two months, over allegations that it is its caller tunes service with the code number 4100 to defraud over 55.6 million GSM subscribers.
Under the guise of giving subscribers the opportunity to subscribe to any caller tunes of their choice at the rate of N50 per month, the telecoms giant is raking in about N2.7billion monthly and approximately N33.4 billion yearly through the auto-subscription service to about 55.6 million subscribers.
In its latest subscriber statistics for third quarter released October 23, the Nigerian arm of South Africa-based MTN group claimed its leading role in the telecommunication sector with active subscriber base estimated at 55.6 million. 
In response to widespread complaints by MTN subscribers, our correspondent registered the number 08162708919 with the pseudo name Titus Bygold by mid day, Friday November 8.

By 11:36 pm Saturday, November 9, a message from 4100 hit the newly registered number saying that the monthly caller tunes subscription would expire in two days.
The short message reads: “Your caller tunez service will expire 2013-11-12. To renew the service at N50 monthly, take no action. For information on how to cancel, text  HELP.”

However, it is interesting to know that the SIM card had not been used to subscribe to any monthly callertunez plan when the message registered the following day, raising the question as to whether the service is being manned by human beings or a programmed robot which automatically deducts subscribers’ money whether they subscribed or not. 
When our correspondent contacted MTN for explanations, the General Manager Corporate Affairs, Corporate Service Division, Funmilayo Onajide explained that for every new MTN SIM purchased, there is free Callertunez as value added service for the first month.

According to her, “Two days to the expiration of the free subscription, customers will get a message telling them that it would cost N50 monthly to renew the service.
“The same message also advises those who want to unsubscribe from the service to text HELP to 4100, after which the customer would be prompted on how to discontinue subscription.” However, she did not address the issue of existing MTN SIM cards which the owners have not used for once to subscribe to Callertunez but are still being charged the same N50 monthly.
By saying “to renew the service at N50 monthly, take no action,” it invariably means that MTN automatically subscribes for customers without giving them opportunity to choose the tune or to opt out.
“When I text HELP on Friday at 1:16 pm, instead of a message signifying that I have unsubscribed, I got the following message: “Y’ello! To register, text ‘reg’ to 4100. To download a tune, text the tune code (e.g.010001) to 4100; To present text, present+tunecode+phonenumber’ to 4100. To cancel…” 
A brief survey conducted by our correspondent who asked some MTN subscribers to text HELP or DELETE to 4100 showed that they got the same message above without any sign that they unsubscribed.

Reacting to media inquiries over the widespread complaints by victims, the General Manager, Onajide further wrote: “It is important to note that apart from the cost of subscription, every tune in a subscriber’s library costs N50 per month. Every tune has a name and a code. Two days to the expiration of every tune in a customer’s library, we will send a text message that the tunes would be renewed automatically for N50.00, and that those who want to unsubscribe from a particular tune should send ‘delete’ (followed by the particular callertunez code) to 4100, and the tune would be deleted from their library.
“If after all these messages, a customer does not text HELP or DELETE to the provided short code, at the expiration of the deadline, the system would automatically renew the service. We hope that you use your platform to educate the public appropriately. This would be a far more positive contribution to public discourse and enlightenment than your sensational headline...” the Corporate Affairs boss wrote in an e-mail message.
Wondering what code a subscriber who had not subscribed for any tune could use to ‘DELETE’  MTN subscribers and victims want the Nigeria Telecommunication Commission, the Consumer Protection Council (CPC) and other government agencies under whose regulatory purview this high-handedness of MTN Nigeria falls, to exert appropriate sanction against the company.
For instance, after receiving several unsolicited messages, one of the subscriber victims (name with held by us) confronted MTN office in Egbeda, Lagos where he was directed to call Mr. Funso Aina of the Corporate Communications department. 
When Aina was contacted, he was full of apologies but the following day the subscriber got a message to the effect that he had been ‘un-subscribed’ from the service which he never subscribed to in the first instance. When he demanded for a refund of his N50, he was merely told to “forget that one.” 
Another victim, Chigozie, with a number that has last four digits as ..7141, lamented that MTN has in the last three months continuously subscribed him (unsolicited) and make deductions from his call credit, a development over which he expressed helplessness. 
Similarly, Miss Uche who has MTN number that ends in ..2866 is not happy with MTN for automatically subscribing her number to a Callertunez without giving her the option to opt out or choose the tune of her choice.
Another loyal subscriber who has been using MTN number 08032637535, for 9 years said his own message on the 12th of October, 2013 at 5:12am reads: “Your service will expire on 2013-10-15. To renew the service @N50 monthly, take no action. For information on how to cancel, text HELP to 4100.” 
On the 16th the same subscriber without taking any action got another message that reads: “Yello, you have been charged N50 and your callertunez service has been extended to 2013-11-15 successfully. Reply TOP5 or’ # SongName’ to search tunez. For more info, text HELP to 4100.” 

Callertunez: NCC should investigate MTN auto-subscription ­–stakeholders

By KELECHI MGBOJI

Following revelation that MTN defraud Nigerians a whopping N2.7billion monthly through its automatic subscription to callertunez on behalf of subscribers, stakeholders have called on the National Communications Commission (NCC) to investigate subscribers’ dilemma in opting out of the service.

The regulatory body was also told to investigate why network providers apply auto-subscription device to compel subscribers’ patronage of the service without giving them any chance to determine the choice of tunes.

Wondering what code a subscriber who did not subscribe for any tune could use to opt out, some industry stakeholders who commented on the development deplored MTN’s highhandedness regarding subscribers’ difficulty in opting out of the caller tune service, stressing that the process need not be a complex one.

Subscribers and victims of rip-off also called on the NCC, the Consumer Protection Council (CPC) and other government agencies under whose regulatory purview this high-handedness of MTN Nigeria falls, to exert appropriate sanction against the company.

In a telephone interview over the weekend, the National President of Nigeria Association of Telecom subscribers, (NATCOMS), Chief Deolu Ogunbanjo, said there must be a system resolution that should be put in place to manage such issues arising from subscribers’ complains.

According to him, “if the subscribers are enjoying the service, then it is okay. But where there is no satisfaction in the callertunez service, the resolution of such complain now becomes vital,” stressing if a subscriber is not satisfied with it or he does not want it any more, he should be able to opt out with ease.

“On the issue of having difficulties in opting out of callertunez service, that is where NCC should come in as a regulator, so there must be a system put in place that anytime a subscriber wants to opt out he should be able to do so.

“Why must MTN force us to continue to subscribe to callertunez. If I have used a callertunez for three months and I don’t want it any longer, I should be able to quit. Talking of the ability to get off through callertunez service when we feel like, we will take that up with NCC when we meet”. Deolu added

Similarly, the president, Association of Telecommunications Companies of Nigeria (ATCON), Mr. Lanre Ajayi, expressed serious concern over difficulties which customers encounter trying to unsubscribe from callertunez service.

He said: “There should be a simpler way of subscribing and unsubscribing. This is a serious issue if subscribers are facing this kind of problem, and the regulators (NCC) should be informed about it and something should be done”.

In his response the Chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON), Engr. Gbenga Adebayo, declined to comment on the development saying: “I cannot hold brief for any operator, am not for and not against. As the chairman of the association, I can’t speak on behalf of any operator or an individual. If there are issues of any kind, channel it to MTN”.

But responding to the widespread calls for sanctions against MTN, NCC's director of public affairs Dr. Tony Ojobo, said that “if MTN is raking N2.7billion through the service, what has that got to do with NCC?

“On the issue of the inability to unsubscribe from callertunez, it is MTN that should be asked the question, which has nothing to do with NCC.”Ojobo said

MTN has come under widespread criticism in recent time over allegations that it is using its caller tunes service with the code number 4100 to defraud over 55.6 million GSM subscribers of a whopping N2.7 billion monthly.
Under the guise of giving subscribers the opportunity to subscribe to any caller tunes of their choice at the rate of N50 per month, the telecoms giant is raking in about N2.7billion monthly and approximately N33.4 billion yearly through the auto-subscription service to about 55.6 million subscribers.

But subscribers complain that they are being ripped off. For instance, after receiving several unsolicited messages, one of the subscriber victims (name with held by us) confronted MTN office in Egbeda, Lagos where he was directed to call Mr. Funso Aina of the Corporate Communications department.
When Aina was contacted, he was full of apologies but the following day the subscriber got a message to the effect that he had been ‘un-subscribed’ from the service which he never subscribed to in the first instance. When he demanded for a refund of his N50, he was merely told to “forget that one.”
Another victim, Chigozie, with a number that has last four digits as ..7141, lamented that MTN has in the last three months continuously subscribed him (unsolicited) and make deductions from his call credit, a development over which he expressed helplessness.
Similarly, Miss Uche who has MTN number that ends in ..2866 is not happy with MTN for automatically subscribing her number to a Callertunez without giving her the option to opt out or choose the tune of her choice.
Another loyal subscriber who has been using MTN number 08032637535, for 9 years said his own message on the 12th of October, 2013 at 5:12am reads: “Your service will expire on 2013-10-15. To renew the service @N50 monthly, take no action. For information on how to cancel, text HELP to 4100.”

Commissioner humiliates teacher for flogging his ward

By KELECHI MGBOJI

A female teacher with Urban Secondary School, Ebonyi State, Mrs. Thelma Nweke, has come face to face with lifetime humiliation in the hands of the state Commissioner for Culture and Tourism, Mr. Hyacinth Ikpo for flogging his (commissioner’s) deviant ward.

The commissioner’s child was said to have engaged in acts of indiscipline and ridiculing of the teacher by drawing cartoon image on the board and labeled it the teacher’s name.

It was gathered that when the teacher came to the class to teach her subject, she saw the drawing on the board with her name, and inquired who made the drawing.

After several threats to punish the students, they confessed that the drawing was done by the Commissioner’s child and consequently the school authority ordered her to flog the child but she declined which prompted another teacher to flog the child.

The child went home and reported to her commissioner father who came to the school the next morning with his wife, an Ex-officio member of the People’s Democratic Party PDP in the state and attempted beating up the teacher.

Nigerian NewsDirect gathered that it took the timely intervention of the School Principal to calm the Commissioner and his wife down. As if that humiliation was not enough, Ikpo went further to threaten the teacher with a sack and detention in police cell.

When contacted, Ikpo denied the allegation that he attempted to beat up the teacher but admitted that if not for his position as a Commissioner, he would have ensured that the teacher was thrown into the police ceil.

He said: “I did not beat up the teacher neither did my wife; I had to prevent my wife from talking because if I had not, the story would have been different. This office and my position as a Commissioner was what stopped me from making sure that the teacher is currently cooling off at the police ceil.

“So because I am a commissioner, I should sit down and allow somebody beat up my child. If not for the School Principal that pleaded with me, by now she would be teaching in one remote village because I would have made sure she is transferred”.

Ikpo presents an argument that every teacher has a nickname by students and that calling a teacher such nickname is not enough reason to flog such deviant student.

Hear him: “There is no teacher that does not have a nickname. Governor Elechi, when he taught me in school, he had a nickname we used to call him. What is wrong in a student calling her teacher her nickname? This is why some students don’t like attending some teachers’ classes, because the relation between the teacher and the student is not cordial,” Ikpo said.

Enraged by the development, a human right group based in Abakaliki, the Campaign for the Protection of Rights and Privileges of Civil Servants (CPPCS) has petitioned the Ebonyi State Governor, Chief Martin Elechi, the Supervising Minister for Education, Barr Nyesom Wike, the Ebonyi State Ministry of Education and the State Secondary Education Board against the commissioner for alleged harassment, intimidation and threats of Mrs. Nweke.

Briefing newsmen in Abakaliki, the Ebonyi State capital, the State Coordinator of the group, Comrade Emmanuel Chukwu described the incident as unfortunate and regrettable, saying that the incessant use of political power and position by some members of Governor Elechi’s cabinet to intimidate and harass innocent civil servants in the state must stop.
“We have been receiving series of report from both members of the public and especially civil servants in the state. The use of political position by some members of Governor Elechi’s cabinet and their aides to intimidate, harass and unleash threat of sack, seizure of salary and suspension to innocent civil servants discharging their legitimate duties,” Chukwu said.
He narrates further: “Just recently we got an information that a serving Commissioner, Chief Hyacinth Ikpo, Commissioner for Culture and Tourism went to Urban Secondary School Abakaliki and attempted to beat up a teacher who was alleged to have instructed another teacher to flog his child for act of indiscipline and ridiculing the said teacher, Mrs. Thelma
Nweke”.  

“The group on getting the information decided to visit the school for further inquiry into what happened and it was revealing, most regrettable and unfortunate that a man of such position would condescend so low to exhibit such an action. According to the students and some teachers, the Commissioner’s child cartooned the teacher by drawing her image on the board and labeled it her name”.
The organization wondered if children of political office holders should no longer be punished by their school teachers, adding that the action of the commissioner to the best of our understanding would not only encourage the girl to insult and make mockery of her teachers but would give her the leverage to believe that she can do anything in that school and get away with it.
It urged the Gov. Elechi who was once a teacher, Minister for Education, Barr, Wike, the Ministry of Education and the Secondary Education Board to ensure that political office holders desist from using their position to harass and intimidate innocent teachers in Primary, Secondary and tertiary institutions.

NCC threaten N500m sanction against MTN, others
….As Reps seeks probe of telecom operators
By Kelechi Mgboji
The Nigerian Communications Commission (NCC) has issued December 31, 2013 deadline to MTN and other telecommunication service providers to improve on the quality of service or face drastic sanctions worse than those of May 2012 where the Commission slammed N1.2 billion fine on them.
In fact, after several years of regulatory slumber, NCC said it has decided to wield the big stick against the telecommunication companies for consistent failure to meet the minimum key performance indicators (KPI) threshold.
The Commission had slammed N1.170 billion sanction on all the operators in May 2012 for failing in different KPIs with MTN Nigeria Communications and Etisalat paying the highest penalty of N360million each.
The details of the penalties already communicated to the different operators also indicate that Airtel is to pay the sum of N270million and Globacom attracted a penalty in the sum of N180 million.
We could not confirm at press time whether the network providers have paid the penalties but a reliable source disclosed that the telecom companies are yet to comply with payment over which the telecom operators are likely going to face more severe sanctions beginning from January 1, 2014. 
This is coming on the heels of moves by the House of Representatives to commence probe of arbitrary charges on subscribers after the Nigerian NewsDirect investigative story revealed that MTN rakes in N2.7billion monthly from arbitrary deductions for its caller tunes service.
The House mandated its Committee on Communications to investigate alleged unwholesome practices by telecommunication operators in Nigeria. The committee is expected to submit its findings within four weeks.
The resolution is sequel to a motion jointly sponsored by Reps. Eddie Mbadiwe (PDP-Imo) and Frank Enokorogha (PDP-Delta) and adopted without debate.
According to Mbadiwe, the companies have raked in millions of naira as innocent citizens who have not subscribed to some of their sales promotions are being charged without authorisation.
A letter from the NCC addressed to the Chief Executive Officer of MTN frowned at the declining quality of network service saying it has fallen far short of the KPI threshold expected of all service providers.
The letter titled “Notice of intention to issue direction pursuant to sections 53 and 54 of the Nigeria Communications Act, 2003” stated that after careful investigation of the quality of service of all the major network operators, has concluded that the present service being provided by operators falls below the KPI published by the Commission in quality of service regulations, 2012.
The letter dated December 10, 2013 and obtained by Nigerian NewsDirect reads in part: “The Commission, having critically reviewed the declining quality of service and in exercise of its statutory powers intends to issue a direction in the following terms:
“Failure to comply with any direction that may be issued pursuant to the above notice will result in the imposition of sanction in the amount of N5million and a further sum of N500, 000 per day after the expiration of the notice for as long as the contravention persists and calculated from the deadline specified by the Commission for the operator to meet the minimum standard of quality service,” said the Commission.
Implication of the notice to the telecommunication network service providers is that any of the KPI’s failed by 31 December would warrant stoppage of sell of SIM cards by the offending operators.
All the operators may be affected as most of them are not performing to the satisfaction of the key consumers especially in the area of drop calls which has become more rampant in recent times.
The stoppage of SIM card would not preclude issuance of sanctions as done in 2012 as the Commission is angered by the fact that the KPI’s were lowered after the sanctions but the operators did not meet the terms of agreement it entered with the Commission to improve quality over a 12 months period during which it promised to meet with the KPI’s.

‘I’m Son of God sent to end corruption’

By KELECHI MGBOJI

A middle aged man from Abia State, Joel Ike, who claimed to be 'Son of God' has said that God has revealed to him how to eradicate corruption from the face of the earth beginning from Nigeria.

In an exclusive interview with our correspondent, Ike said “I am a son of God. I was born a son of God. I didn’t choose that myself. My mandate is to eradicate corruption from the face of the earth.”

He said that the distinct voice of God has been speaking to him over the years on why mankind has been sold to corruption, stressing “we (referring to himself and his followers) are Sons of God sent to solve the problems of corruption facing mankind.”

Although Ike declined being called a Christian or Muslim, at his residence at ISiaka Street, Ojo  opposite Ojo Barracks, Mile 2 – Badagry Express way, Lagos, Ike has already commenced a gathering of brethren he described as 'Sons of God'.

Hear him: “Everybody is corrupt. In families, government, churches, market; every area of human endeavour, there is corruption. So, corruption is not man-made. Man did not go into corruption willingly. What needs to be done for corruption to be wiped out has already been revealed to the 'Sons of God'. They are the ones going to do what will make God remove corruption from among men.”

He disclosed that going by the revelation he received, only the Sons of God numbering 190 men are going to be among the brethren. He said “It is only 190 people from Nigeria to be entered in the movement. And it is only in Nigeria that God has clearly revealed this solution to corruption.”

He warned that mankind has driven too far away from God the creator, but noted that God is now revealing what should be done so that man may once again find favour in God in the new dispensation stressing that something new happens at the end of every dispensation of 2,000 years.

He said: “At the end of every dispensation of 2000 years, new things do happen. At the end of the first dispensation, the flood came. At the end of the 2^nd dispensation, it was the intervention of our Lord, Jesus Christ, who by the grace saved the world. Then at the end of grace, this is God revealing what we should do.

“The period of grace lasted for 2,000 years. The world of Adam lasted for about 2, 000 years. After that, the world of commandments and laws beginning from the time of Moses, lasted about 2, 000 years. The world of grace has lasted about 2, 000 years. It has already ended. That is why I said man does not know what he is doing and where he is,” said Ike.

According to him, the first period started with Adam and ended with Noah and the second period started with Abraham and ended with our Lord Jesus Christ.

“The third period started at the end of the time of grace. The beginning is the manifestation of the sons of God as the precious fruit of the earth to lead the rest of the fruits of true vine. This manifestation will mark the end of the world. The end of the world means the harvest which is the time when evil will be removed and the good will remain on earth”.As to what the 190 Sons of God will do, Ike said "They will be hearing from God and tell the people what God is saying. All of the 190 people will hear directly from God and then tell the people what God is saying. That is what God has revealed to me, and the scriptures confirm it. So, the 190 will serve as intermediary between God and man all over the world."

Speaking further, the crusader pointed out that "Christians and Moslems don’t know where they are. They are afraid when they hear what they don’t understand. When they talk about the end of the world, they fail to understand what the scriptures say which is world without end.

"Yet they tell you the world will come to an end. This is because they don’t have the understanding. And that is why they talk about the bible contradicting itself.  There are no contradictions in the bible. If anybody can prove one to me, I throw away my own bible. There is none, and you can’t see any contradictions in the bible."

Excerpts:

Why the emphasis on corruption?

It is God's revelation which no man can question. But come to think about that, corruption is at the root of problems in the world. Everybody is corrupt. In families, government, churches, market; every area of human endeavour, there is corruption. So, corruption is not man-made. Man did not go into corruption willingly. What needs to be done for corruption to be wiped out has already been revealed to the sons of God. They are the ones going to do what will make God remove corruption from among men.

 As to what they are going to do precisely, it is left for them. Sons of God are going to follow the movement, even though there is a given number, which is 190, as written in the Holy Scriptures. It is only 190 people from Nigeria to be entered in the movement going to take off in Nigeria. And it is only in Nigeria that God has clearly revealed this solution to corruption. If any other person from any nation comes out to tell us about this revelation, then it means I am a liar.

There is going to be a movement made up of 190 people from Nigeria, though it is not limited to 190 people but they are the ones to lay the foundation, do what is required to make God remove corruption out of the country and the rest of the world.

Besides corruption, is there any other thing that God has revealed to you?

For now, the main problem facing mankind is corruption and its consequences, whether in the family, church, school, market, everywhere. And God is not happy about it. Even the holy bible has been corrupted. You know God said: “Don’t remove, and do not add.” But today, there are so many things that have been added in all versions of the bible, and the things are quite clear. But it surprises me that many of our so called men of God don’t know these things.

You mentioned that the world is without end; are you saying that the world won’t come to an end as some Christians make us believe?

When the bible talks about the end of the world, it is not referring to the physical world. The Noah’s world is not the physical world as some Christians understand it. Even when the bible talks about the earth, it is not the physical earth; all these are spiritual.

You also said that new things happen at the end of every dispensation, 2000 years, how do you mean?

Yes, at the every dispensation which is 2000 years, new things always happen. At the end of the first dispensation, the flood came. At the end of the 2^nd dispensation, it was the intervention of our Lord, Jesus Christ, who by the grace, saved the world. Then at the end of grace, this is God revealing what we should do.

The period of grace lasted for 2,000 years. The world of Adam lasted for about 2, 000 years. After that, the world of commandments and laws beginning from the time of Moses, lasted about 2, 000 years. The world of grace has lasted about 2, 000 years. It has already ended. That is why I said man does not know what he is doing and where he is.

The first period started with Adam and ended with Noah. The second period started with Abraham and ended with our Lord Jesus Christ. The third period started at the end of the time of Grace. The beginning is the manifestation of the sons of God as the precious fruit of the earth to lead the rest of the fruits of true vine. This manifestation will mark the end of the world. The end of the world means the harvest which is the time when evil will be removed and the good will remain on earth.