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Ribery won’t face questioning before World Cup

Ribery won’t face questioning before World Cup

French soccer star
Franck Ribery, who is at the centre of sex scandal, will not face the
investigators before the South African World Cup finals, a source close
to the case said on Friday.

The news might help ease the tense atmosphere surrounding the France camp ahead of the June 11-July 11 tournament.

“As the case stands
now, it is not expected Ribery will be summoned by the judge to be
possibly placed under official investigation before the start of the
competition,” the judicial source said, declining to be named.

The source added
that another French international, Real Madrid striker Karim Benzema,
who also faces questioning in the same case, would not be heard before
the World Cup.

Junior Sports Minister Rama Yade said on Thursday that any player placed under investigation should not represent France.

“The French
(soccer) shirt is sacred and cannot be worn by somebody who is under
official investigation,” she told Canal+ television late on Thursday.

France playmaker
Ribery and fellow international Sydney Govou were questioned earlier in
April as witnesses by police investigating a prostitution network.

French media have
said the players were clients of a nightclub in Paris’s posh
Champs-Elysees district that allegedly featured escort girls.

Ribery’s lawyer has
said her client was only questioned about his ties with the leader of
an escort girls network and the player himself has made no comment
about the affair.

Govou’s lawyer and Benzema’s agent deny that their clients had ever been to the nightclub in question.

New twist

On Thursday, the
scandal, which has gripped France, took a new twist after a young woman
involved in the case gave a lengthy interview to Paris Match magazine
about the scandal.

She said Ribery had
invited her to Munich in April 2009 to celebrate his 26th birthday in a
luxury hotel, adding that he had paid her for three encounters last
year.

Zahia, who turned
18 in February, confirmed widespread reports in the French press that
she was underage when she met Ribery, but added that she had not
informed him about her age.

There was no immediate comment from Ribery’s entourage.

Ribery, usually
energetic on the pitch and unassuming off it, is probably the most
popular player in the squad, since Zinedine Zidane, who retired after
his infamous headbutt in the defeat by Italy on penalties in the 2006
World Cup final.

But he has had a
wretched few weeks, hounded by the media over the scandal, suffering
injury and then getting sent off earlier this month during Bayern
Munich’s Champions League semi-final.

UEFA have since suspended him from the final.

Given his various
woes, some sports commentators in France have questioned whether French
coach Raymond Domenech will even select him for the World Cup.

France’s
Immigration Minister Eric Besson said on Friday the case was taking
“undue importance” and that Ribery was entitled to the presumption of
innocence like any citizen.

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Eagles’ must show desire against a flat back four

Eagles’ must show desire against a flat back four

All the advantage
the Eagles may have in the coming world cup may well hinge on the fact
that they will be playing on African soil.

It has been an
eventful period for the team in the last four months. An uninspiring
performance in Angola led to calls that saw Coach Shaibu Amodu relieved
of his duties, denying him for a second time the chance of leading the
team to the World Cup finals. Former Sweden coach, Lars Lagerback
signed on as new coach on February 27, 2010 and was been given a
mandate to lead the Eagles to the semi finals of the World Cup.

On April 18, he
released a tentative list of 44 players from which he is supposed to
pick his final 23 players for the Mundial in South Africa. The list
itself had one or two surprises and if there is a level playing ground
in the training camp then maybe some unheralded players may just make
the cut.

While Nigeria’s
list is still provisional, Argentina have gone ahead to name a starting
eleven barring injuries, who will face Nigeria in their opening match
on June 12.

The players named
by Argentina coach, Diego Maradona, include: Sergio Romero; Nicolas
Otamendi, Martin Demichelis, Walter Samuel, Gabriel Heinze; Jonas
Guiterrez, Juan Veron, Javier Mascherano, Angel Di Maria; Lionel Messi,
Gonzalo Higuain or Carlos Tevez.

He said in an
interview on an Argentine radio station: “”I have tried many
full-backs, I had Emiliano Papa and Javier Zanetti but I have now
settled for playing four centre-backs in defence. I’m very happy with
Nicolas Otamendi, Martin Demichelis, Walter Samuel and Gabriel Heinze.
The performance against Germany showed how good this group are
together. There will be alternatives in the squad however such as
Clemente Rodriguez.” He justified the line up with this comment: “The
attitude of the boys in the last game showed the spirit that we have in
this team, it is a spirit that you’ll always find in Argentine
football. In fact we went to Uruguay and won, we kept [Diego] Forlan
very quiet that night.” History with Argentina Qualification for the
World Cup was fortuitous to say the least. It was a topsy turvy
campaign and at the last, our destiny was in the hands of Mozambique
and Tunisia. We could say it was not easy qualifying for South Africa.
But we qualified because Tunisia faltered on the last day by losing in
Maputo; the Eagles played their part in beating Kenya in Nairobi 3-2
with an Obafemi Martins’ goal nine minutes from time.

We are now here and
Argentina will be our first foes in Johannesburg. In Nigeria’s history
against Argentina, there has only been one occasion that Nigeria got
the better of the Argentines and this was at the U23 at the 1996
Olympics, where a Daniel Amokachi inspired side came from behind to
beat the South Africans 3-2. Daniel is now an assistant coach to the
Eagles and he will need to inspire this team to such great heights.

Where everybody
fears or respects Lionel Messi in unequal measures for his prowess on
the ball and it is understandable, Nigeria has a chance like every team
to the World Cup if it can just get its act together.

The centre backs
against the Eagles Playing a defence of only centre backs and the names
mentioned by Maradona brings up opportunities that the Eagles should
exploit. First of all, the average age of that defence is 29 and added
is the fact that they have had long and strenuous league campaigns.
That itself is an advantage in disguise – they can be exploited with
explosive pace and passes in the gaps that will be created by reduced
agility. Yes, age in defence leads to a lot of experience but pace is
the name of the game in today’s football.

Can Lagerback
devise a method to exploit these? Their full backs will not be doing a
lot of over-lapping, that is for sure. That can also be exploited if
our full backs can push forward at every opportunity if the attackers
are keeping the defenders busy in the middle of the pitch. As it showed
in their friendly match against Germany early this year, the times that
the Germans tried to stretch the play by going through the wings,
Maradona’s men had challenges but unfortunately, the Germans do not
have the pace that Nigeria can boast of in the attack. This is one of
the reasons why it has been suggested that Nigeria may have to play
with a two-man sitting defensive midfielder system.

This ultimately
means that the Eagles must come up with a plan to narrow their play and
make it expansive at the same time; then they will have a chance
against the genius, Lionel Messi and his cohorts. We know from
experience that even very good defences are troubled when you stretch
them.

The oldest lesson
in sport is – put genius in a foot race with desire, and desire will
win every time. The Eagles must be desirous of victory over Argentina
but more importantly, that desire must be shown by their actions on the
pitch and in this, Lagerback has to get his selection right, choosing
the right players with the right desires to prosecute the World Cup. If
he does this, he will have achieved something greater than his
predecessor. He must recognise that a footballer who consistently turns
in eight out of 10 performances is far better than one who gets full
marks one week and half marks the next.

Finally Maradona
suffered a dog bite recently and he told www.goal.com: “The dog bite
was my fault.” If Nigeria beats Argentina on June 12, it will be his
greater fault.

They say once
bitten, twice shy, will Nigeria be able to bite the Argentine legend in
Johannesburg on June 12 where it hurts most? – His ego! It is possible
because there is one thing that Nigeria can arguably boast of, a better
coach in Lars Lagerback. They also say that the World Cup is about
coaches because the best teams will be represented with the best
players in the world. Will Lagerback prove a better coach than Maradona?

– It is all to play for in South Africa.

The cry of
Nigerians over the charade at the Nations Cup in Angola was that the
team was totally bereft of guile and had more of brawn. West Africans
are known to be physically gifted, but lacking in technical quality.
Lars Lagerback can add that bit of guile that will make the physical
nature to become intimidating. The Eagles as presently constituted are
still good enough to scrap for at least a second round appearance but
that is only if we will use all our opponents’ defects to our own
advantage.

So maybe a shake-up
in the Eagles team will be good and lead to a wake -up; or maybe the
shake-up will be just that – a shake-up.

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Nobody wants to play South Africa, complains coach

Nobody wants to play South Africa, complains coach

South Africa coach,
Carlos Alberto Parreira, struggling to prevent an ignominious early
exit by the World Cup hosts, expressed frustration on Friday at the
difficulty of setting up strong pre-tournament friendlies.

Stymied by the bad
planning of the South African federation and the final stage of
European competitions, the hosts returned on Friday from a training
camp in Germany still short of the challenging preparation games they
need to improve.

“I tell you the
real truth, we worked very hard in Germany to get one single first
division team to play with us. Even the reserve team for Bayern Munich.
But nobody wants to play with us,” the Brazilian coach told a news
conference.

The Icelandic
volcanic ash cloud that severely disrupted global air travel added to
Parreira’s problems with both China and Estonia pulling out of
friendlies in Germany.

South Africa have
played North Korea and Jamaica in the last week, managing only a
goalless draw with the former which pushed them down to 90th in the
FIFA world rankings.

They beat
79th-ranked Jamaica 2-0, but Bafana Bafana (the Boys) still looked
unconvincing, especially in goal-scoring power. The Jamaican game was
their third victory in 16 matches.

The camp included
only players from the domestic league, but Parreira’s problems are
compounded by the fact that most European-based South African players
spend the majority of their time on the bench for their clubs and lack
match fitness.

Local excitement

FIFA and local
organising committee officials have expressed concern that a poor
performance by South Africa and an exit after the group stage would
undermine vital local excitement for the June 11-July 11 tournament.
They would be the first World Cup hosts not to make the knockout second
round of the finals if this happens.

Parreira asked
people to “be realistic” about the home team’s chances. South Africa
“should not put pressure on our boys. We have to give our best and
fight for the country”.

Hundreds of fans blowing vuvuzela trumpets welcomed the team when they landed back in Johannesburg on Friday.

Orlando Pirates
midfielder Teko Modise told reporters the team were playing well, but
needed to break the goal drought. “I think the one thing we are lacking
now is scoring goals. Scoring goals will bring us more confidence,” he
said.

Kaizer Chiefs’
midfielder Siphiwe Tshabalala agreed, “As a team we’ve being doing well
defending and keeping shape but I think we need to start going more
forward and scoring goals,” he said.

South Africa hope
to play friendlies against Bulgaria, Colombia and Denmark in May and
early June ahead of the June 11 opening match of the tournament against
Mexico.

Parreira named a
provisional 29-man World Cup squad on Friday. One notable absentee is
Spanish-based defender Nasief Morris, left out just before last year’s
Confederation Cup for disciplinary reasons and still not rehabilitated
despite efforts at a reconciliation.

First choice
defender Morgan Gould, who underwent ankle surgery in February but is
attempting to work his way back to fitness, was also excluded.

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Inkoom becomes a driving force for Ghana

Inkoom becomes a driving force for Ghana

Full back, Samuel
Inkoom, fled home as a teenager, helped Ghana beat Brazil in the world
under-20 final and has run the gauntlet of angry fans in his country.
Nothing worries him, apart from Swiss traffic laws.

The outgoing,
confident Inkoom, 20, joined FC Basel at the start of the season and
his only real difficulties have been with the highway code.

“The driving here
is more difficult, there are a lot of rules,” he told Reuters after a
five-minute trip in a Volkswagen Scirocco from FC Basel’s St Jakob Park
stadium to his comfortable but unassuming flat.

“They have a limit
which you are supposed to go at, if you go faster than that, they will
flash you, they fine you and you have to pay. In Ghana, you’re free,”
added Inkoom, who had to restrain himself from pulling across two lanes
of oncoming traffic, a normal manoeuvre back home, as he left the
stadium car park.

Inkoom broke into
the Ghana team last year when he played in the final match of the World
Cup qualifying campaign against Mali and was ever-present in the team
which finished runners-up to Egypt at the African Nations Cup in Angola
in January.

He played in the
team which won the under-20 world championship in Egypt last year,
beating Brazil on penalties in the final, and believes that victory
could inspire the senior side to win the tournament in South Africa;
something no African team has done.

“I believe that we
are going to live the ultimate,” he said, bristling with confidence.
“If you are determined and focused in football, I believe you can
achieve what you want.” “We are united and we have the quality. If you
see the senior and junior players, it’s amazing. Michael Essien is
great, you can ask him anything you want, anytime.

Stephen Appiah is
the same, he is a good captain, he encourages players. Milovan Rajevac
is a very good coach, he comes to you and shows you the plan, he goes
through it with you one to one, he shows you what to do, he makes us
understand football,”

Steamy port

Inkoom’s new home,
in a quiet Basel suburb, is a world away from the teeming streets of
the steamy port of Sekondi where he grew up.

Like thousands of
children across Africa, Inkoom learned his football on the streets. His
life changed when, as a teenager, he was spotted by a scout from a
football academy in the centre of the country.

“My father was a
teacher and he told me I couldn’t go, he wanted me to go to school,”
said Inkoom. “So I ran away from home. One day, I just took some things
and left. Then, my father would come and watch me play and he would
argue with my coach telling me he wanted me to come home.”

Inkoom, who says
his parents are now among his biggest fans, ended up being signed by
Ashante Kotoko, Ghana’s most popular club, where he quickly became a
firm favourite.

He was spotted by
FC Basel, joining the Swiss club at the start of the season. He does
not intend to let the opportunity slip and has shunned the lifestyle
which has sent so many players down the wrong path.

“I prefer gaining a
lot of energy for my work,” said Inkoom, who spent the interview with
one eye on his performance in a recent match against FC Luzern.
“Instead of going to a night club, I prefer to sleep and watch my
matches and the mistakes I made, to learn from them.”

Angry fans

No African country
has ever reached even the semi-finals of the World Cup, but Inkoom said
that expectations in the West African country, who reached the second
round on their first finals appearance four years ago, are high,
possibly too much so.

“There is a lot of
pressure on the national team; everybody wants you to do something for
the country,” said Inkoom, who felt the fans’ wrath after a 2-2 draw
with Mali. “But you will not find it easy, they will assault you, they
will go to your family… everybody knows where you live and they will
go straight to your house.

“They follow the team with their hearts, sometimes they don’t have
money and fight to get money to buy tickets to come to watch you…so
they get angry if you lose. I believe it’s part of football. If they
insult me, it doesn’t bother me.”

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Putting Nigeria’s semi final dream at risk

Putting Nigeria’s semi final dream at risk

Diego Maradona
admitted during the week that he was having problems selecting his
World Cup squad from the array of talents that constantly churn out
promising performances for their respective clubs around the world.

In a team where
Inter Milan trio of captain Javier Zanetti, Esteban Cambiasso, and big
striker, Gabriel Milito, are still looking up to the heavens to
convince the Argentine coach they are good enough to be in his squad
for South Africa, it would certainly be easy to agree Maradona has a
big problem on his hands. The three players were critically involved
for their Italian club as the Nerrazuri earned a berth in the final of
the UEFA Champions League for the first time in 38 years.

As part of the
efforts to prepare his team for their World Cup campaign, South Korea’s
coach, Huh Jung-moo, is already considering the use of oxygen tents to
aid their acclimatisation for the challenge in South Africa, after
learning they will be playing their second group game against Argentina
in Johannesburg, which is around 1,700 metres above sea level. That is
outside the fact that they still have Ecuador, Japan, Belarus, and
Spain to play between May 16 and June 3.

Both Japan and
Spain will also be playing at the World Cup and consequently, it makes
an interesting plan for the Koreans who had also played Zambia and Cote
D’Ivoire to test their might against African opposition. Nigeria’s
third group opponents, Greece, still have two build up games against
another two teams campaigning in the competition, Korea DPR and
Paraguay. Such is the importance some of our opponents have attached to
the global competition.

Different fate

But the same cannot
be said of Lars Lagerback, the Super Eagles coach, who surprisingly
named a squad of 44 players – including six home-based players, whom he
would only have the opportunity of meeting for the first time on May
20, barely 21 days to the kick off in Johannesburg. The rationale
behind the number of invitees were questionable abinitio, considering
some of the names who found themselves on the list. Granted that
Lagerback will need to rely on experienced players after being given a
mandate to guide the Eagles to the semi finals of the first Mundial to
be hosted on Africa soil, but even the veterans may lack match fitness
as over 50 percent of our top players are not seeing regular action for
their respective European clubs.

The Nigeria
Football Federation may not have a say on the fate of our players at
their clubs, but it has certainly thrown spanners into Lagerback’s
preparation by failing to organise friendly matches to help the Swede
decide on who merits to be in the final squad. Interestingly, the
Eagles coach will only meet his players eight days after the FIFA
deadline for the submission of 30-man provisional list for the World
Cup.

Greed or shrewdness?

The scheduled
friendly against Colombia will only come up on May 30, and there are
still issues concerning the venue as well as appearance fees. The snag
is partly because of the demand of the NFF as hinted by its spokeman,
Demola Olajire.

FIFA gave $1million
dollar for each of the 32 participating countries to support their
preparation, and they will also receive $8million for playing in the
group stage of the competition. Yet, the NFF is waiting for other
countries to make lucrative offers to play our Eagles. Reported
proposals from countries like Paraguay, Ecuador, and North Korea have
suffered futility. China backed out of a friendly with South Africa,
but the host announced Jamaica replaced China barely 48 hours later,
and they won the fixture 2-0 at Kickers Offenbach Stadium, last
Wednesday.

Explaining the inability of the NFF to organise any friendly match for the Eagles in an interview on BBC, Olajire said:

“We have always
received appearance fees, as well as other essential welfare packages,
so we cannot descend to a step lower. Nigeria seriously needs these
friendly games, but we cannot back down on our demands for the team.
These friendlies offer us the opportunities of preparing the Super
Eagles for the World Cup, as well exploiting the brand Nigeria, Super
Eagles, and World Cup participation.”

It is not the first
time Nigeria has appointed a new coach months before the World Cup, but
the Eagles could be having arguably the worst pre-World Cup preparation
ever.

Bora Milutinovic
took over from Phillip Troussier barely five months to the 1998
Mundial, but the team still played Holland, Yugoslavia and Germany in
build up games, albeit with some awful results. And even in February
2002, when Adegboye Onigbinde replaced Shuaibu Amodu about four months
before the Korea/Japan edition, the Eagles still played teams including
Kenya, Scotland, Paraguay, and China, with the last two taking part in
that year’s tournament.

Lagerback may not
openly express his frustration at the level of ineptitude at the NFF,
yet he would have something to allude to if he fails to lead the Eagles
past the group stage in South Africa. Besides, he would only need to
walk away with a handsome $1.3million after his World Cup adventure
with Nigeria.

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Chelsea cannot afford any mistakes

Chelsea cannot afford any mistakes

Chelsea are on the
verge of wresting back the title from Alex Ferguson and Manchester
United, but the Blues must ensure that they get a victory over
Liverpool today at Anfield.

Liverpool’s season
should not be defined at this point in time because it will seem very
demeaning for a 19-time English league winner, 5-time Champions League
winner, and numerous FA Cups – in short, the most decorated club side
are in danger of missing out on playing in the Champions League for the
first time in six years and that has all been under the watch of Rafael
Benitez.

The Spaniard is
rumoured to be on the way to Juventus; how the Bianconneri can even
think of Benitez’s name as a likely coach for them is bizarre to say
the least, but we have to put that aside.

Chelsea would have
eased a sigh of relief and contentment when the Reds were taken into
extra time in their Europa League match against Atletico Madrid on
Thursday night and their eventual loss on aggregate. If that has not
drained the last powers of this great team, then nothing else will.

Chelsea will also
be banking on the fact that Liverpool will do all in their power to
disallow Manchester United, their arch enemies from winning a 19th
title thereby usurping their record as joint top winners with the Red
Devils on 18 victories, and the small fact that Ferguson wants to win a
fourth consecutive title, a new record that is unlikely to ever be
broken in a hurry.

Liverpool will be
without a player feared by John Terry and the other defenders, Fernando
Torres. Steven Gerrard is also not in his best form, but these are not
guarantees. If Carlo Ancelotti is to win his first English league
title, then he, and his team must take nothing for granted.

In the first leg, a
cagey match was settled by second half goals from Nicolas Anelka and
Florent Malouda. Anelka, a former Liverpool player scored first in the
60th minute when he finished off a sublime low cross from Didier Drogba
as Chelsea defied their critics with a performance of grit and quality.
Substitute Malouda sealed the win in injury-time when he slid home
another low cross from Drogba.

While Chelsea have
scored for fun and amassed an amazing 93 goals, Liverpool have managed
61, which incidentally is Chelsea’s goal difference.

Matches between
these two teams have been tactical ones with the superior on the night
cancelling out the other. In the days of Jose Mourinho as coach of
Chelsea, the likely score line would have been 1-1. In these climes,
with a victory the only result that will lead to a league win, today’s
match may see both teams opening up attacking wise and that will make
it a great spectacle to watch.

Liverpool still
have a mathematical chance of sneaking that lucrative fourth UEFA
Champions League spot but that is only if Aston Villa, Tottenham and
Manchester City all contrive to lose their matches.

Unfortunately
these three will face off in the last two weeks so a bad result for one
will mean a positive one for the other but Liverpool still have a
mathematical chance so then they will not turn the other cheek when
they are slapped on the other.

Battles to watch: Didier Drogba vs. Jaime Carragher

The Ivorien is
stuck on 25 goals, one behind Wayne Rooney, who is out injured. What
better place to score the goals that will most likely win Chelsea the
Premiership and the individual accolade as the league’s highest goal
scorer than at Anfield?

Meanwhile
liverpulldian, Carragher is a hard as nails defender who doesn’t give a
quarter. It does not matter to him, whether they are out of the league
race or in it, he will face the obstacle the same way, preventing the
opposing striker from scoring. It is always a physical duel between
both.

Florent Malouda vs. Glen Johnson

The England hopeful
versus the Frenchman, who won March’s player of the month could decide
the outcome of this match. One of the reasons Chelsea are where they
are is because of the form shown by Malouda. His contribution has been
goals, assists and defence.

Glen Johnson was
shown off on slack defending against Atletico Madrid when his tame
header, intended for Reina turned into the away goal that knocked his
team out of the Europa Cup. He will need to focus more on defending
against the duo of Ashley Cole and Malouda. Reckon that this is where
the match will be won and lost.

Steven Gerrard vs. Frank Lampard

England buddies,
but that is where the similarity ends. Lampard has scored 20 goals
again this season to make it five seasons consecutively that he has
netted 20 goals and above. Gerrard, long the saviour of Liverpool seems
to be waning in pulling the chestnut out of the fire these days. He has
also not been able to feature alongside Fernando Torres for long
periods during the season and that may have contributed tellingly to
the dismal outing of Liverpool in the league.

Today, Gerrard has another chance of showing that he still is one of
the finest midfield players in the world. Expect to see tackles fly
between these ones.

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Soaring Atletico eye trip to Neptune

Soaring Atletico eye trip to Neptune

High-flying
Atletico Madrid fancy a champagne-splashed trip to Neptune after the
small matter of cup finals in Hamburg on May 12 and Barcelona on May 19.

Atletico’s teenage
goalkeeper David De Gea has never had the chance to celebrate at the
Neptune fountain where the club’s fans traditionally gather to party
after a title triumph.

After the La Liga
side ousted Liverpool in their Europa League semi-final on Thursday,
and with a King’s Cup final to come, the 19-year-old could well get to
do it twice.

“I have never been
to Neptune to celebrate and I rather fancy it,” De Gea told reporters
after Diego Forlan’s strike in added time at Anfield set up a final
against Fulham.

When Quique Sanchez
Flores replaced Abel Resino as Atletico coach last October the club
were in disarray in 15th place in La Liga. They had also just been
hammered 4-0 at Chelsea in the Champions League.

Six months on and
the former Real Madrid and Valencia defender has lifted the club into
the final of both the Europa League and the domestic cup.

They could even eclipse La Liga giants Real and Barcelona as Spain’s most successful side of the season.

Atletico’s
heart-stopping semi-final success against Liverpool sparked wild
celebrations in the Spanish capital into the early hours of Friday
morning, with flag-waving and horn-blaring fans driving triumphantly
through the city.

Several hundred
gathered at the Neptune fountain near the Prado museum, traditional
site of Atletico’s title celebrations down the years.

Trophy drought

They last won a
trophy in 1996 when they claimed a Spanish league and King’s Cup
double. They take on Sevilla in the King’s Cup final.

“Who would have
though it (six) months ago,” captain Antonio Lopez added. “It’s for all
the Atletico fans, the families and the club.” Atletico’s spectacular
turnaround under Sanchez Flores will have been bittersweet for
Liverpool striker Fernando Torres, who moved from boyhood club Atletico
in 2007 seeking silverware.

The 26-year-old,
sidelined with a knee injury but hoping to be fit for the World Cup,
watched from the stands as his beloved former club dashed Liverpool’s
last chance of a trophy this campaign.

Sanchez Flores said
his players were giddy after Uruguay striker Forlan snatched the
crucial away goal to send Atletico into the final after a 2-2 draw on
aggregate.

“I can’t describe
what the dressing room was like after the match,” the former Valencia
and Benfica coach told a news conference.

“They were like
school kids and it’s great to see them so happy.” La Liga leaders Barca
or second-placed Real could be left watching Atletico’s progress with
envy after a trophy-less season following elimination from the
Champions League and the cup.

“Atletico is poised
to clinch an unforgettable double and become the big winners of the
season — and at the expense of their wealthy neighbours to boot,”
Marca sports daily trumpeted in an editorial on Friday.

“Reaching two finals could have enormous significance for the club.
It should give them a base which will consolidate them among the elite
and prevent them slipping back into their bad old ways ever again.”

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Nigeria’s First Bank to form group holding company

Nigeria’s First Bank to form group holding company

Nigeria’s First Bank said on Friday it planned to form a listed holding
company which will own the bank and its subsidiaries to comply with reforms to
the sector planned by the central bank.

Chief Strategy Officer Onche Ugbabe said the bank would likely be de-listed
to be replaced on the stock exchange by the group holding company. He gave no
timeframe.

“The group holding company will be the listed entity and will be 100
percent owner of the bank, as well as of the other subsidiaries,” Ugbabe
told an investor conference call.

Central Bank Governor Lamido Sanusi has said he intends to do away with the
universal banking model and separate banks’ core lending business from more
speculative capital market activities — such as stockbroking, asset
management, private equity and venture capital.

First Bank is one of Nigeria’s first lenders to clarify how it plans to
comply with the central bank’s reform agenda. Others have said they plan to spin
off subsidiaries but have not yet given details.

Chief Risk Officer Remi Odunlami said First Bank was targeting 10 percent
growth in its loan book this year, with the focus on long-term credit.

“We have a liquidity ratio of 45 percent which means we have excess
liquidity and that will be channelled to loans,” Odunlami told the call.

The central bank has said it is concerned about banks’ reluctance to lend in
sub-Saharan Africa’s second-biggest economy and has kept its benchmark interest
rate on hold at 6 percent for months to try to stimulate the flow of credit.

First Bank swung to a pre-tax profit of 15.4 billion naira in the first
quarter of this year from a loss of 9.8 billion naira a year earlier.

The bank said it was targeting 20 percent return on equity in 2010, up from
15.9 percent at the end of March.

REUTERS

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Goldman’s Shares Plunge on Inquiries and Downgrades

Goldman’s Shares Plunge on Inquiries and Downgrades

Already facing investigations on two fronts into
its practices in the mortgage market, Goldman
Sachs
came under pressure from investors as well on Friday.

After reports on
Thursday evening that federal prosecutors had opened an investigation into
trading at Goldman, raising the possibility of criminal charges against the
Wall Street giant, the firm’s stock was downgraded on Friday by two analysts. Standard
& Poor’s
lowered its rating from hold to sell, and Bank
of America
Merrill
Lynch
dropped its rating from buy to neutral, citing the mounting
investigations.

Investors
responded by sending the stock down 9 percent in midday trading, to $145.89,
contributing to an overall decline in financial shares on Wall Street.

The financial
impact of Goldman’s troubles continues to mount. Since the Securities
and Exchange Commission
announced on April 16 that it had filed a
civil fraud suit
against the firm, its stock is down 20 percent, removing
about $20 billion from its market capitalization. The drop is all the more
striking given that Goldman delivered a blockbuster
quarterly report
last week, with first-quarter earnings doubling from last
year.

Goldman has
vigorously denied the accusations by the S.E.C., which accused the firm of
defrauding investors involved a complex mortgage deal known as Abacus 2007-AC1.

On Thursday
evening, people familiar with the matter said the S.E.C. had referred its
investigation to prosecutors for the Southern District of New York, which has
now opened its own inquiry. While the investigation was said to be in a
preliminary stage, the move could escalate the legal troubles swirling around
Goldman.

Federal
prosecutors would face a higher bar in bringing a criminal case against
Goldman, whose role in the mortgage market came under sharp scrutiny this week
during a marathon hearing in the Senate. In contrast to civil cases, the burden
of proof is higher in criminal ones, where prosecutors must prove their case
beyond a reasonable doubt.

The stakes are
high for Goldman, but they are also high for the United States attorney’s
office. Prosecutors from the Eastern District of New York lost a case last year
filed against two hedge fund managers at Bear
Stearns
, whose collapse presaged the turmoil on Wall Street.

Prosecutors
built much of that case around internal e-mail messages at Bear Stearns, much
the way the S.E.C. and senators have pointed to e-mail messages at Goldman in
which employees had disparaged investments that they were selling to their
customers.

In the end,
however, prosecutors were unable to
prove to a jury
any criminal wrongdoing by the Bear Stearns employees.

A spokesman for
Goldman declined to say whether the bank knows about a criminal case, but he
said “given the recent focus on the firm, we’re not surprised” to
learn about a criminal inquiry. The spokesman said Goldman would cooperate with
any investigators’ requests for information.

A spokeswoman
for the Southern District also declined to comment.

The opening of
the Justice Department investigation was first reported Thursday evening by The
Wall Street Journal’s Web site.

Goldman has said
it will defend itself against the S.E.C.’s accusations. The firm’s executives
discussed the case last week during their quarterly earnings call, and this
week, they testified about their mortgage operations in a nearly 11-hour
hearing in Washington before a Senate subcommittee.

That hearing
focused broadly on Goldman’s mortgage operations, and the Senate subcommittee
released reams of new internal documents from Goldman. The Senate Permanent
Subcommittee on Investigations is looking into many other mortgage deals beyond
the one cited by the S.E.C.

The deal at the
heart of the S.E.C. case was one of 25 mortgage securities that Goldman created
in a program it called Abacus. The agency has hinted that it may expand its
inquiry to other Wall Street firms.

Those securities
were synthetic collateralized
debt obligations
, which are bundles of derivatives that mimic the performance of mortgage bonds. The securities allowed people who
believed that the housing market would collapse to buy insurance against
certain mortgage bonds they thought might fail. When those mortgage bonds did
fail, the investors in the Abacus deals suffered major losses.

The Abacus deals
were, however, very profitable for the parties that were negative on the
housing market. In the Abacus 2007-AC1 deal, the hedge fund manager, John
A. Paulson
, raked in about $1 billion when the bonds he helped select hit
trouble.

Mr. Paulson has
not been named in the S.E.C.’s case because he was not involved in marketing
and selling the deal.

Many in Congress
have been pressing for a criminal inquiry. This week, 62 House members sent a
letter to the Justice Department asking it to conduct an investigation into
Goldman’s actions.

© The New York Times

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Women artists reflect on Nigerian history

Women artists reflect on Nigerian history

For two days in
April the works of seven Nigerian women adorned the lobby of the
Transcorp Hilton Hotel, in Abuja. Their individual artistic expressions
of the past and future of Nigeria were on display in an art exhibition
tagged ‘50 years ahead through the eyes of Nigerian Women.’ Held from
Thursday April 22 to Friday 23, the exhibition was the result of
collaboration between the African Artists Foundation, the Netherlands
Embassy, and the Transcorp Hilton Hotel. For art enthusiasts, and
guests who thronged the exhibition, the common agreement was that the
show and the works were something to behold.

A unique exhibition

Of particular
interest to many was the exploits of two artists from Northern Nigeria:
Aisha Augie – Kuta and Aisha Ibrahim Dapchi. Both successfully shifted
from the constraints of cultural and religious restrictions to freely
express themselves in the visual art form. The various mediums of
expression spanned photography, sculpture, painting, mixed media and
video art. When asked why the exhibition featured only women, the
curator, Zainab Ashadu, responded that “a society cannot develop if its
women are not invested in, and it is to this end that we choose to use
this exhibition to give a voice to the women.”

Based on its
interest in the development of female artists, the African Artists
Foundation sent out an open call for participation. This requested
interested female artists to send in proposals giving a summary of
their individual visions for interpreting the chosen theme. “All
entries received revealed a remarkable level of awareness by the
artists. With these, we created this unique exhibition,” said Omotayo
Adeola, the Project Coordinator.

All one and the same

Aisha Augie-Kuta’s
exhibit titled ‘Versus’ investigates the various factors that limit,
propel or stall us in our development as a nation, exploring identity
by challenging the apparent disregard for indigenous culture in favour
of a Western one. Through her photographic displays, Augie-Kuta
captured varied images of ordinary Nigerians at work, from the
challenging landscapes to a political party’s street trawl. She
presents the vision of a Nigeria where we can borrow from and merge
different cultures without sacrificing our own identity.

Unoma Giese, an
artist of Nigerian and German parentage, presented ‘Double Caste’, a
body of work that attempts to show identity as not merely black and
white. Her images of mixed race – part Japanese, English, German and
part Nigerian subjects – explore the fragmentation that still exists in
Nigerian contemporary society, especially with respect to mixed race
persons commonly referred to as ‘half-caste.’

‘In Women: Our
Continuity’, Shade Ogunlade used her stylised paintings to portray a
unified Nigeria where there is no distinction between one person and
the next; where Nigerians are defined not by their ethnicity but by
their similarities and achievements.

Art is life

In ‘Time Honoured,’
Priscilla Nzimoro’s lenses captured the aesthetics of everyday mundane
activities in the urban mega-polis, Lagos. The new media artist
presented us with images of ordinary lives across the landscape: the
vulcaniser and his makeshift roadside garage and the vigorous rhythmic
pounding of food by women in roadside restaurants, among others.

Aisha Ibrahim
Dapchi’s exhibition – ‘AMARYA’, was a collection that highlighted the
sacred rite of passage from girlhood to womanhood in Hausa culture.
‘Amarya’ boldly displays the beauty, pride and the evolution of Hausa
culture.

Lucy Azubuike, a
mixed media artist, explored the relationship between Nigerian Society
and the roles of women. ‘No Going Back’ is a video exploration of the
quest by African women for equality, empowerment and
self-actualisation. Using nature, particularly trees and crops,
Azubuike explored the relationship between man’s treatment of fellow
man and man’s relationship with nature.

Taiye Idahor stood
out in the exhibition with her choice of medium and theme. This
promising young artist expressed herself through soft sculptures,
formed by using readily available newspaper prints in the production of
hollow cubes with holes, representing the errors of a damaged nation.

If the organisers keep their promise, the exhibition should be a
regular platform for female artists to express themselves from now on.

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