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When-You-Think-Every-Couples-Fight-Is-Your-Business-Not-Knowing-Some-Have-Extreme-Understanding.mp4

Hollywood is getting ready to hit the French Riviera for Wednesday’s opening of the 2016 Cannes Film Festival. While some big-name productions are getting lavish, out-of-competition premieres at the Grand Théåtre Lumière — including Woody Allen’s Café Society, Jodie Foster’s Money Monster, Steven Spielberg’s The BFG, and Shane Black’s The Nice Guys  — the real focus is on the competitive lineup, a proven early stomping ground for future Oscar contenders in the fall. (Just for reference, last year’s festival saw the premiere of eventual awards-season favorites Carol, Amy, and Son of Saul.) Yahoo Movies will be on the scene in Cannes this week to bring you all the latest. Here’s a look at the titles we’re most excited to see:

 

American Honey
Director: Andrea Arnold
Cast: Sasha Lane, Shia LaBeouf, Riley Keough
A young teenager (Lane) falls in with a hard-partying crew — which includes a ring leader played by LaBeouf — who travel the Midwest selling magazine subscriptions in this drama from director Arnold, best known for her gritty 2009 drama Fish Tank and the 2011 adaptation of Wuthering Heights.

 

Elle
Director: Paul Verhoeven
Cast: Isabelle Huppert
Verhoeven (Basic Instinct, Starship Troopers) has spent recent years working in Europe and is bringing his new thriller to Cannes: It’s about the head of a video game company (Huppert) who’s assaulted in her home, and who responds by relentlessly tracking down her attacker.

 

It’s Only the End of the World
Director: Xavier Dolan
Cast: Léa Seydoux, Marion Cotillard, Vincent Cassel, Gaspard Ulliel
Puckish Canadian director Dolan (Mommy) was on the Cannes jury last year. This year, he’s back in-competition with his new French-language drama about a terminally ill writer (Ulliel) who tries to reconnect with his long-estranged family. 

 

Julieta
Director: Pedro Almodóvar
Cast: Emma Suárez, Adriana Ugarte
The Oscar winning writer-director of All About My Mother and Talk to Her is bringing this, his 20th feature film, to Cannes. A drama adapted from three Alice Munro short stories from the collection Runaway, it follows a recent widow (Suárez) who’s desperate to find the 18-year-old daughter who left her.

Credit to Yahoo News.

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NIGERIA cracks down on methamphetamine drug labs

Enforcement Agency (NDLEA) has arraigned four Mexicans and five Nigerians for allegedly operating a super laboratory for the illicit production of methamphetamine. The accused persons on Monday April 25, 2016 appeared before Honourable Justice A.O. Faji at the Federal High Court, Asaba on a five count charge of conspiracy to form and operate a Drug Trafficking Organisation (DTO) to process and export methamphetamine. They were also accused of illegal extraction of ephedrine, preparation of methamphetamine and unlawful possession of 1.5kg of methamphetamine; a drug similar to cocaine, heroin, LSD contrary to NDLEA Act, Cap N30 Laws of the Federation of Nigeria 2004.

 

The accused persons are as follows; Anthony Chukwuemeka Umolu a.k.a. Onwa Obosi, Chief Chibi Aruh, Izuchukwu Anieto, Cervantes Madrid Jose Bruno, Rivas Ruiz Pasiano, Castillo Barraza Cristobal, Partida Gonzalez Pedro, William Ejike Agusi and Augustine Kosisochukwu Umolu. They could not take their plea because the four Mexicans claim not to understand English language and the defence counsel, Barrister Benson Ndakara objected to the use of an interpreter produced by the NDLEA on the grounds of bias. NDLEA counsel, Barrister Lambert Nor told the court that the objection was a ploy to delay the trial and prayed the court to give the defence one week to produce any interpreter of their choice. In response, Barrister Ndakara said that they cannot produce an interpreter but will accept another interpreter apart from the one in question.
Justice Faji then remanded the accused in prison custody and adjourned the case to May 13, 2016 for NDLEA to produce another interpreter.

 

Meanwhile, the Chairman/Chief Executive of the NDLEA, Col. Muhammad Mustapher Abdallah (retd.) has ordered the directorate of prosecution to diligently pursue the case to a logical conclusion.
It will be recalled that the NDLEA discovered a super laboratory for the illicit production of methamphetamine located at Asaba, Delta State. This super methamphetamine laboratory similar to the ones found in Mexico is the first to be discovered in the country. The laboratory has a capacity of producing between 3,000kg to 4,000kg of methamphetamine per production cycle. A significant feature of this laboratory is that the production process is more technical and sophisticated because it uses the synthesis method of methamphetamine production. All the principal actors linked to this illicit act were apprehended in a simultaneous raid on members of the drug syndicate in Lagos, Obosi in Anambra state and at the laboratory in Asaba, Delta state.

 

Those arrested include four (5) Nigerians believed to be joint owners of the laboratory and four Mexicans who are methamphetamine production experts hired as technical partners into the country. The NDLEA boss gave the names of the suspects are Chief Chibi Aruh, Izuchukwu Anieto, William Ejike Agusi, Umolu Kosisochukwu and Umolu Ckukwemeka. Others are Cervantos Madrid Jose Bruno, Rivas Ruiz Pastiano, Castillo Barraza Cristobal and Partida Gonzalez Pedro.

 

Abdallah described the operation as technical undercover assignment leading to the dismantling of a drug trafficking organization. “In a technical undercover operation, four Mexicans were arrested in active production exercise inside the super laboratory. The cartel first brought two Mexican methamphetamine experts, Cervantos Madrid Jose Bruno and Rivas Ruiz Pastiano to Nigeria but because of the size of the laboratory coupled with the volume of work, two additional Mexicans, Castillo Barraza Cristobal and Partida Gonzalez Pedro were added. Our investigation revealed that a successful test production was done at the laboratory in February 2016”.

 

The laboratory was raided while the second production cycle was ongoing. Items recovered at the laboratory include 1.5kg of finished methamphetamine and 750 litres of liquid methamphetamine. Other items found in the laboratory include industrial pressure pots, gas cylinders, gas burners, facial masks and numerous chemicals. Also recovered in this operation are Toyota Tundra, Mercedes Benz Jeep ML and a Toyota Corolla car.

The Agency warned that unless drastic measures are taken against this trend; the rise of super laboratories will put Nigeria on the global spotlight in methamphetamine production. “This is because the laboratory operates at an industrial scale with a high yield of 3,000kg to 4,000kgs of methamphetamine per production cycle. Nigeria methamphetamine is now competing with others in Asia and South Africa markets. The super laboratory does not need ephedrine because it uses the synthesis method. Drug cartels are now shifting from simple method of methamphetamine production to a more complex process. The discovery calls for celebration because the operation demonstrates the capacity and preparedness of the agency to track down drug cartels irrespective of their covert mode of operation” he stated.

The threat posed by this laboratory is disturbing because mass production will make the drug easily available thereby increasing the rate of abuse. More citizens will equally be targeted by drug cartels that are searching for drug mules to smuggle drugs outside the country. This has the tendency to increase the number of Nigerians in foreign prisons thereby affecting the image of our country.

Methamphetamine laboratories pose a serious threat to humanity because of the toxic nature of chemicals used. Methamphetamine dump pollutes the environment. This is because for every one pound of methamphetamine produced, about three to six pounds of toxic waste is created. This can contaminate the water table within 500 meters radius from the laboratory. Even plants close to the dump were found to be dead. The laboratory contains highly poisonous solvents and gases. Some are pyrophoric in nature capable of explosion; other chemicals are carcinogenic, capable of causing cancer while some are highly combustible and corrosive.

The NDLEA boss noted that adequate funds are required to detect laboratories, provide protective kits and also to decontaminate the production site. Major body organs can be damaged through exposure to poisonous gases and chemicals. The estimated cost of cleaning this laboratory is about thirty-five million (N35,000,000) naira. Money is also needed to carry out public enlightenment. This will create awareness and provide information to help people make informed decisions. Protective measures must be taken to safeguard the lives of officers and that of innocent Nigerians.

Members of the public were advised to be vigilant and report suspicious factories to the NDLEA. A methamphetamine laboratory can be identified by their secret operations. It can be detected by irritation caused by chemicals, smell of chemicals and coloured water on sewage. The Agency cautioned that houses used for methamphetamine production should be avoided while chemical containers must not be used for domestic purposes. The NDLEA reiterated its commitment to work with the relevant Agencies like the ministry of health and environmental protection in enhancing public health and safety.

Credits: NDLEA

 

FOREX TRANSACTION. ........NIGERIA

Below is a CBN Forex Transaction Rules published earlier and how two persons reacted to the News:
FIRST THE HEADER;
"FINALLY NIGERIA MOVES INTO THE REAL WORLD WITH SOPHISTICATED FOREIGN EXCHANGE TRANSACTION RULES. A new regime of forwards and futures contracts."
NOW THE STORY:
The Central Bank Governor has just announced a full float of the Naira in a press conference in Abuja. The CBN Governor informed a stunned audience that the exchange rate will be market determined and that the CBN will also participate in the market occasionally. The CBN also maintained that the 41 items banned last year for for access to forex for imports remained banned. The CBN has also appointed primary dealers for the first time which is expected to help boost FX liquidity in the market.

In a remarkable turn on events for a CBN Governor and Government that have for months held tightly to an artificial exchange rate, the CBN Governor also revealed that we will be operating a single market suggesting that we will no longer have two windows.

The CBN also introduced a two way quote which basically means that the market will act like the stock market where buyers and sellers will state price and quantity they are willing to sell.

The CBN Governor also confirmed that all the “pent up” demand awaiting to be filled (for example airlines looking to repatriate their dollars) will be met at the interbank market but advised caution for buyers looking to rush demand. In what was quite remarkable he clearly stated that the CBN has enough reserves to meet demand and is willing to put its reserves on the line.

The market will also include financial products such as futures where businesses who need dollars in the near distant future can now hedge buy buying at a price today but get the dollars delivered when they actually need it.

As per the new price of the Naira, the CBN Governor mentioned that the price will be known when the market opens officially on Monday

The implication of this could be wide-ranging. However, we can only but conclude that the end of the black market is near as anyone and everyone can now buy dollars at any bank or with authorized dealers at a price that is market determined.

Key highlights of the press briefing.

1. Market moving to single market through interbank via a Reuters / FMDQ order matching system with 10 primary dealers (2 way quote mechanism) and other secondary detailers.

2. Primary dealers will operate the interbank market. CBN may intervene from time to time

3. Proceeds of FDI shall be purchased by authorised dealers at the daily interbank rates

4. Non-oil exporters are allowed unfettered access to export proceeds via the interbank rates

5. 41 items formerly constrained by CBN will still not be eligible for trade on interbank

6. To enhance liquidity, CBN may offer long dated 6 – 12 months forwards to authorised dealers. Forwards must be traded backed with no authorised spreads

7. New product : Now authorized NGN futures on the FMDQ OTC – which will allow non-standardised amounts, no fixed dates or tenors. Will allow businesses to hedge. Futures will be NGN settled.

8. CBN says they have enough liquidity to play in the market (it surpasses pent up demand)

THEN THE REACTIONS TO THE ABOVE STORY:

QUESTION:
What is the implication on the economy vis-a-vis forex supply?

ANSWER:
It will determine the true value of our currency. And it will allow traders and manufacturers to plan ahead by hedging the price of the naira one year in advance.
It will also stimulate foreign investment that has been waiting on the side lines for almost a year for some form of direction.

OPINION:
The hedging bit is laudable as it will bring certainty to transactions. But my worry is that we are a consumer economy and the demand for forex my drive the price so high as to make it unaffordable and goods and services too expensive for a porous non productive economy. There will be no purchasing power to stimulate the economy.

ANSWER:
I do not agree with you. In fact the demand for dollars has already created a price of N370 to $1. This new regime will drive down the price of the dollar as it eliminates speculative buying. The new buyers will surely jump in but new sellers will also come forward such as new investors and diaspora remittances that all when to the black market up till now.

OPINION & QUESTION:
The next few days nay weeks will explain where we are headed. I think identyfing the "recovered loot" if indeed there is such a thing will shore up our foreign reserves and thereby impact positively on the worth of the naira.
Sadly we have never been sure of these "recoveries" since Abacha story up till this moment. Who knows what our foreign reserve is?

ANSWER:
No recoveries YET. Its all in the pipe line. They used the word "recovery" too boardly.

OPINION/RESPONSE
Deceitful eh? I had always wondered that the "recoveries" had not impacted on our reserves.

A THIRD PERSON'S REACTION TO ABOVE DIALOGUE:
I think we should be more positive about our government rather than being constantly negative. I've never seen another country whose citizens constantly malign it like Nigerians do. You cannot start spending money you seize from people until you're sure there would be no legal issues. So it is unrealistic to expect recovered loot to already be made available for spending to strengthen the Naira.
(this last post was erroneously posted without the full dialogue)
NOW WHAT'S YOUR REACTION TO THE FULL CONVERSATION ABOVE? ;

Excerpt from Soni Irabor.

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