₦airaland Forum

StillX10:
So what's next? he will pay for the looted goods?

Sheriman:
So Lagos State would insured the damages Abii?

NOPE!

Like I said on another related thread, the irony in this DUMB "retaliation" is that, knowing the poor insurance culture among Nigerians (even Nigerian businesses), of all of the tenants in the Mall, Shoprite is likely to have the most comprehensive coverage while many/most of the Nigerian businesses in the Mall are unlikely to be fully covered (if at all).

Furthermore, the Nigerian workers likely to lose their jobs in the wake of this attack (either permanently or temporarily while the Mall is being fixed) are NOT going to be receiving unemployment and/or other welfare benefits (nor free healthcare), unlike people in South Africa. All in all, therefore, this looting/attack was truly a DUMB OWN-GOAL!
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FarahAideed:
A Governor above this? Where do you people get such primitive rhetorics from ?

Shocking isn't it...
The way many Nigerians treat Governors as virtual 'emperors' is just bewildering.
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Amuocha:
Surulere mall

What is the purpose of this trip? To calculate compensation for the Landlord or developer?

This is still a crime scene

It's only property damage...
And suspects have since been arrested and arraigned in court.
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lenghtinny:
Love usually happens in the strangest places

I think that was another four-letter word beginning with "L"...
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Angelfrost:
What's even the fuss?... Their act of copulation was in a toilet, cleaner than most people's bedrooms of fornication, except that it happened on live TV...

Some people criticizing them have had sex in worse places: refuse dumps, abandoned buildings in slums, graveyards, places of worship, etc...

I would think folks were criticizing them because it was on LIVE TV and not because of the toilet...

Either way, HAPPY MARRIED LIFE to them!
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Presumably, the funds contributed by the W Initiative will be allocated solely to female applicants to the LSETF, while the non-WI LSETF funds will continue to be split between male and female applicants (not necessarily 50/50 though).
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Awol1:
Why only women?

Men nko?

Don't they own businesses in Lagos?

Let me try to clear this up for some of the commenters here...

LSETF (Lagos State Entrepreneurship Trust Fund) was set up by ex-Gov Ambode in 2015 with an initial capital of N25b to give low-interest (5%) loans and training to micro, small- and medium-scale entrepreneurs RESIDENT in Lagos - regardless of State of Origin.

While the LSETF covers both male and female entrepreneurs, it also specifically has a Women’s Entrepreneurs Fund to encourage female entrepreneurship. This has helped achieve a roughly 50/50 male-female split among the roughly 8000 recipients as if 2018.

The W Initiative is an entrepreneurship funding and empowerment program set up by Access Bank in 2014, that includes providing training and mentorship for female entrepreneurs (as well as loans). The W Initiative covers ONLY female entrepreneurs.

The LSETF was planned to scale-up from the initial N25 billion fund by attracting capital and/or partnering with donor agencies, development partners, corporations and individuals. Such envisaged partnerships is essentially what has occurred here with Access Bank.
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Furthermore, knowing Nigeria (where insurance culture is abysmally poor)...
Shoprite is most likely to have the best insurance coverage of all the stores in the Mall.

The landlord (the owner of the Mall itself) is likely to be insured for any structural damage, but coverage for the goods/stock and fixtures in the stores are likely to fall upon each individual store owner. Accordingly (given the abysmally low insurance penetration levels in Nigeria), the Nigerian businesses in that Mall are going to be the hardest hit - and thereafter, for the “lucky” ones, their premiums will skyrocket! SMH

This so-called “retaliation” was a DUMB OWN-GOAL!
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Davash222:
So, they were arrested because of N500 worth of goods

They have earned a well-deserved KIRIKIRI ‘vacation’...

Although illiterates (well, most Nigerians) call the Novare Mall “Shoprite”, Shoprite does NOT own the Mall and is merely ONE of many stores in that Mall. Meanwhile, probably 90% of the businesses in the mall are owned by fellow NIGERIANS, but they were also destroyed and looted.

In effect, South Africans destroyed shops and businesses of Nigerians in SA, and Nigerians “retaliated” by destroying the stores and businesses of Nigerians in Nigeria! SMH
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SLAP44:
If I am this woman, I will just return from where am hiding just because of this insult
She should sue the police for defamatory description.

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Lugianostar:
Sanwo Olu has tried his best since inception of his tenure as noticeable improvement is seen in areas of traffic management, redeployment of waste management outfits and it's evacuation of unnneccessary parking of trucks in Apapa and oshodi axis.

He can't do it alone without peoples support.

Again, I wish BSO only the BEST...
It’s too early to judge him but let’s not manufacture fantasy “achievements” either.

Trucks in Apapa the responsibility of the fed govt’s task-force that reports to VP Osinbajo...
Meanwhile, unsure if you live in Lagos, but gridlock for the rest of us just as HORRID as ever!

Eko oni Baje!
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Unless “lists” means something different in Nigeria...
One cannot see anything resembling supposedly “listed” achievements.

We do not have the luxury of inertia (or worse, failure) in Lagos.
So, I am pray BSO pulls a “Fashola” and emerge from the shadow of Bourdillon.

EKO ONI BAJE!
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Wiseandtrue:
I must confess I like the way he continued all the projects started by his predecessors without wasting time!!!

Away from the usual complains of contractors this and contractors that

I just hope he will keep it up, not after one or two praises, he will go home and sleep!!!

There are alot of work to be done in Lagos, especially places like mile 2 and trade fair, those roads shouldn't be found in a modern Lagos!!!

Right now, with all the revenues the Lagos State generates, I will give him 5/10 in his first 100 days!!!

That’s how it ordinarily should be (government being a continuum)...

Sadly, however, that does not appear to be quite the case. Even though, immediately upon Sanwo-Olu assumed office, the State Assembly quickly approved and passed the state budget that they had been sitting on for about 4 or 5 months since Ambode submitted it to them (with provisions already made in the budget for funding of ongoing projects, plus the proposed Fagba Flyover) and therefore it’s not been a case of paucity or non-provision of funding, several prominent projects have seemingly been put on hold and work ground to a halt or slowed to a crawl - Pen Cinema Flyover, Yaba Bus Terminal, Oyingbo Bus Terminal, the new Oshodi-Abule Egba BRT corridor, completion of the International Airport Road (specifically the several pedestrian bridges and flyovers), among others.

Even at the Oshodi Interchange, only Terminal 3 has been completed and put to partial (makeshift) usage while little seems to be happening with the other 2 terminals. Meanwhile, instead of deploying the 820 new high-capacity environmentally-friendlier buses acquired by the Ambode administration rapidly across the city, 35 have been “donated” to the civil service, while the State Assembly embarks upon a politically-suspicious probe. The new LAGFERRY ferries that the Ambode government acquired are now only being “tested”), while the execution/deployment of the Intelligent Transit System (ITS) that would enable commuters plan (or even pre-plan) each individual commute and facilitate inter-modal transportation and transfers (between the buses and the ferries) appears to have been placed in abeyance.

BSO simply has to do better.
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majamajic:
for complete 4 yrs Ambode did only pillars at agege

Trouble counting up to 4?

Construction work started on Agege-Pen Cinema bridge on January 4, 2018...
Meanwhile it took barely 16 months to build both Abule-Egba and Ajah flyover bridges.
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tot:
He not driving the trucks does not mean he is not accountable for those deaths. What training and safety procedures were put in place for the drivers, what action has been taken against careless drivers? Why do the accidents keep recurring month after month?

That’s exactly what it means...
Dangote Cement is a public corporation, and not a 1-man business.
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tot:
His business interests are his number ONE concern. No more no less. Someone whose trucks kill people on a steady basis, he doesn't care about anyone but his money.

Is he the person driving the trucks or are there no other truck accidents in Nigeria?

Many folks don’t grasp that most of Africa’s problems (including this “xenophobia”) is rooted in POVERTY!
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henryobinna:
she hasn't committed a financial crime yet at least according to the report. Her offense is related to the SEC. She was arrested for not having license to operate

See my response below to a previous comment...
And please note the ‘PREVENT’ part of the EFCC’s statutory remit.

9jaRealist:
You might as well ask what’s the job of the ICPC?
Nigeria (and many other countries) have multiple investigatory agencies.

Nevertheless, the EFCC Act empowers it....
To “prevent, investigate, prosecute and penalize economic and financial crimes”.

The SEC, on the other hand, primarily regulates the capital markets...
Part of that regulation of course necessarily includes “enforcement” action.

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favour32:
Does that permits the statement,
"rot in jail" without being tried and found guilty by a competent court of jurisdiction.
If a suspect is paraded,does that mean that he or she is already pronounced guilty?
What is the function of court?
You should know that anybody can be paraded with trump up charges.
Only the court can pronounce one guilty or not.

Nope! That’s most definitely NOT what it means...
An arrest is merely part of the investigatory/prosecutorial process.

An arrest is a matter of public record (in MANY places in the world)...
But she’s presumed INNOCENT until convicted in a PUBLIC trial in a court of law.
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jaxxy:
What statutory license is that? The question is did she scam people? Efcc only have teeth when it’s not politicians especially those close to power.

She registered as a NON-PROFIT NGO and is providing financial services...
That’s like one registering a school and then start running a hospital instead.
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dheaven:
With this report she have not defrauded but with this arrest her customers will now cry cos she won't be able to run the business again. I suspect the arrest was caused by jealousy by other microfinance bank around her which cannot find how she runs it and succeed.

She shouldn’t be “running the [unlicensed] business” in the first instance...
You and I can’t simply go open a “bank” in our garage and start taking deposits from the public.
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Angelfrost:
If they could read, and had the semblance of intelligence, wouldn't we have a better leader and country by now??!...

Most of them merely check the name to ascertain tribal affiliation, then proceed to their usual childish, idiotic, and pointless ethnic bashing.

favour32:
Thumb up chief!
Nairaland is an online platform you find the most technically illiterates in contemporary issues.
Some of them are PhD holders just to comment unrelatedly or unintelligently.

There’s no “technical” (or other) illiteracy in most of the comments...
She was EXPRESSLY arrested for providing financial services without a proper license.
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Xisnin:
You must be a half-baked lawyer for asking this question.
Really, a lawyer who analyse the merit of a case based on press release.

Arresting a suspect is part of an investigation!

You are even talking about the FBI as if they don't arrest suspects all the time.
I get it, Hollywood movies have created a god-like status for these foreign agencies
but don't be deceived they are not different from their Nigerian counterpart.

It gets worse that you are asking another Nairalnder for evidence of fraud when
you can walk into any EFCC's office commando-style to demand the suspect's release.

There is nothing illegal about arresting a suspect.
A lawyer should know better.

Exactly!
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Cutehector:
So that means ponzi schemes can have licences

Divineayo:
Abi help me ask am, which country grants license to operate a ponzi scheme. A company that trades neither goods nor services,it has no specific scope of operations. You are saying they should obtain license.let him go and give them license na

She was NOT arrested on allegations of failure to obtain a license to run a Ponzi (pyramid) scheme, but rather for failure to obtain a license to “provide financial services” (of any sort) to the general public. When operators apply for such licenses, part of the process includes a description of the services to be provided and an examination by the relevant regulator whether the persons involved are “fit and proper” persons (wrt to qualification, knowledge, experience, and character, among others).

Even after an operator receives a license, their operations can still be shut down (and the operators may be prosecuted) if it is subsequently discovered that the operator is not providing proper services or is engaged in fraud or other criminal activity. My guess is that the license charge here is essentially a “holding” charge to enable custodial authority over the suspect until the EFCC completes its investigations and add any other charges if and as appropriate (or drop the charges if so determined).
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anonimi:
What is the job of the Special Fraud Unit, SFU of the Nigeria Police Force

You might as well ask what’s the job of the ICPC?
Nigeria (and many other countries) have multiple investigatory agencies.

Nevertheless, the EFCC Act empowers it....
To “prevent, investigate, prosecute and penalize economic and financial crimes”.

The SEC, on the other hand, primarily regulates the capital markets...
Part of that regulation of course necessarily includes “enforcement” action.
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Success1020:
I read this 10x, just trying to know why she was arrested. What is the job of EFCC again? I didn't see where she committed any fraud. Why parade her when all these are allegations? Why not do your investigation like FBI before arresting and parading her? If her offense is simply a case of malfeseance or negligence; not having the appropriate license from SEC to raise and invest public funds, does that warrant this? Most Nigerians don't even know why we have SEC. Lady, lawyer up. Or pm me, my law firm can handle this pro bono.

I decided to point this out because some of us can't read, and will start shouting "rot in jail" like the one below me.

How was she “paraded”?
That’s a mug shot and if you’re arrested by the FBI, you’II have similar mugshots taken.
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Ikpeazukerosene:
It seems SEC has gone into coma since EFCC is now doing their job.

This is EFCC’s job...

EFCC deals with all financial crimes...
While SEC deals primarily with securities and such tradable instruments.
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Auxtin85:
Sorry for her

They should lock her up and throw away the key...
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MUGUs and their money are soon parted...
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plaindealer:
Let me shame Ambode and his ignorant supporters with pictures of Fashola's first 4 years.

Wouldn’t you rather “shame” them with pics of Sanwo-Olu’s first 100 days?

#BourdillonBullionvanBrigadeBS#
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CrestMan:
thanks for making me laugh
So in your mind, you think Arsenal fans are scared of the beating they will suffer this season. Well I strongly think Manchester United fans are the ones in that shoe

NB: I'M NEITHER ARSENAL NOR MANCHESTER UNITED FAN

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MaNyEsq:
I do not have to clean my lingo especially when dealing with your kind. You know why? Because I know when I am dealing with a fool and know the language that he understands. And when I'm dealing with someone decent and with enough sense, I speak to him accordingly. So, now in the moment that I am dealing with you, it would be out of norm and ethical malpractice to accord you any respect or dignity albeit in my use of the language since that's not what you're used to. Why bother?

Yes, I realize it’s a mighty strain and struggle to suppress the crude upbringing, but keep at it...
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MaNyEsq:
Apparently, acorn does not fall too far from the tree. That tells me you're the product of RETARDS!

Oh my...
Did you really strain those lonely “brain” cells to cram-and-regurgitate essentially what you were just told?!
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