₦airaland Forum

Nigeria’s economy may be in a difficult period, but with digitalisation at the core of the national banking strategy, financial inclusion has been given room to grow.

“There are so many people in Africa that are outside the banking system”, said Segun Agbaje, Managing Director and CEO of Guaranty Trust Bank (GTBank), one of the continent’s leading financial institutions. “For you to be part of organised society, financial inclusion is a must.”

Slowly but surely, financial inclusion in Africa is improving. In fact, the Central Bank of Nigeria predicts that, by 2020, the number of adult Nigerians with access to payment services will increase to around 70 percent (see Fig 1). “It’s not as superfast as we would like it to be, but there are marked improvements, and this is steadily increasing”, said Agbaje, speaking to World Finance. “Just 10 years ago, data on financial inclusion was hard to come by. Now we know just how much better we must do in order to expand access to financial services.”
Access to savings, credit, insurance and pensions is also growing rapidly.
“Encouraging as these projections are, we know that there’s a lot more to be done. This is why, at GTBank, we are keen to leverage digital technology to expand the reach of our products and services. Mobile has become very, very big and we have begun to see people doing a lot using their mobile phones.”
Agbaje points to the example of Kenya’s M-Pesa, a mobile-based money transfer and finance platform that is now used by more than two thirds of the country’s adult population. The mobile app serves as a channel for approximately 25 percent of Kenya’s GNP. “When I look at our mobile technology compared to a lot of developed economies, I think we’re a lot further ahead. You know, I actually think that the African banking sector is very much ahead in terms of mobile banking. And I think African banks are probably embracing disruptive technologies a lot quicker, because we don’t have as many legacies.”

Making banking more mobile
This readiness to embrace new technologies has helped a large proportion of the African population skip whole stages of traditional digital development altogether. Indeed, for many, a smartphone is their first computer. Agbaje said: “From experience, we know that the major reasons for financial exclusion include the lack of physical access to financial institutions, inadequate understanding of financial institutions and their products, general distrust in the system, and the affordability of products as a result of minimum opening balance requirements.”
Despite these hurdles, technology is helping forward-thinking institutions tackle such challenges head on, prompting financial inclusion to leap forward on the African continent. Agbaje explained:
“The world is changing around us and the future of banking is digital. To protect our traditional business and maintain our social relevance, we are incorporating another model, which involves mobile phones, use of data, partnerships and collaborations. Simply put, we are creating a platform to support our traditional business model by leveraging digital solutions.”
GTBank’s Bank 737 provides banking services to millions of Nigerian mobile phone owners, and does not require internet access to perform basic banking services. Anyone with a phone registered in Nigeria can open an account, transfer money, buy airtime or check their balance by dialling *737#. The convenience of Bank 737 lies in the fact that all of its services can be accessed through a customer’s mobile phone, at the dial of *737#. And because stable internet access is still not ubiquitous in Africa, Bank 737, being USSD-powered, side steps the need for an internet connection.
“Through this service, which makes banking simpler, cheaper and faster, we continue to pull into the banking stream many of those who have long been excluded from the country’s financial framework”, said Agbaje. “Since its introduction, we have recorded an uptake of over three million customers and over NGN 1trn [$3.1bn] in transactions via the platform.
The reception of Bank 737 has been phenomenal, with it gaining recognition as Product of the Year in Africa from The Asian Banker and Best Digital Bank in Africa from Euromoney. The bank was also the recipient of six awards at the 2017 Electronic Payment Incentive Scheme Awards, which was organised by the Central Bank of Nigeria in conjunction with the Nigeria Interbank Settlement System to recognise financial institutions, merchants and other stakeholders at the forefront of driving electronic payments in Nigeria.”
Digitally minded
“Core to our digital strategy is both our understanding that the future of banking is digital, and our determination to lead that future”, Agbaje said. “We know, because digital technologies have dissolved the boundaries between industry sectors, that our competition is no longer just banks. It now includes fintechs, telcos and tech companies that can provide speed and flexibility to customers as we can. This creates tough challenges for the banking sector, but it also creates ample opportunities to extend our footprint.”
A readiness to embrace new technologies has helped large portions of the African population skip whole stages of traditional digital development altogether
For example, the bank’s SME MarketHub is an e-commerce platform that allows business owners to create online stores. Agbaje told World Finance: “Our strategy is to take advantage of the new opportunities born from the digital revolution by moving beyond our traditional role as enablers of financial transactions and providers of financial products, to playing a deeper role in the digital and commercial lives of our customers. In pursuit of this strategy we have created our own in-house fintech division, while also actively seeking partnerships and collaborations with other fintechs.
“Our immediate focus is three-pronged; to digitalise our key processes, build a robust data-gathering infrastructure, and create a well designed, segmented and integrated customer experience, rather than a one-size-fits-all distribution. In the long run, our goal is to build a digital bank that consistently delivers faster, cheaper and better solutions for the constantly evolving needs of our customers.”
The lack of digital and electrical infrastructure, as well as lower levels of wealth than those found in more developed markets, means that there are some barriers to the full adoption of digital banking that are particular to Africa. “Another obvious challenge is the little focus given to innovation in the banking industry.
African banks, like most banks across the world, tend to innovate in bite sizes, and generally around products, rather than service delivery. It was almost as though banks believed that ownership of the customer was their right, as long as they had the branch network to support customer footfall. Now, facing the real threat of losing relevance, banks are waking up to this need to innovate – not just out of dire necessity, but as a strategic objective.”
Agbaje also pointed out that, while GTBank has made significant gains in getting customers to accept digital banking as a viable alternative to traditional forms, there is still more to be done. That said, he is hopeful that the Central Bank of Nigeria’s ‘Cash-less Nigeria’ policy, which discourages the use of cash, will drive greater migration to e-banking platforms.
“We are also tackling the innovation challenge. We now operate an open innovation policy, through which we invest significantly in building our in-house digital capabilities. At the same time, we are seeking effective partnerships and alliances to drive operational efficiency and boost our competitive advantage.
“We want to become a fully digital bank that offers everyday banking services outside of traditional bank walls, but more than that, we want to create digital touch points that ensure we are constantly interacting and playing a deep role in the lives our customers. This of course requires a sustained commitment, and we have repositioned our business structures in such a way that makes us very confident in our continued leadership of Africa’s digital frontier.”
Gaining interest
Despite the difficult business environment in 2016, GTBank enjoyed “a fairly decent year”, according to Agbaje. The bank overcame these challenges by growing its retail business and leveraging technology to deliver superior payment solutions to make banking simpler, faster and better. Gross earnings for the period grew by 37 percent to NGN 414.62bn ($1.3bn), from NGN 301.85bn ($959m) in December 2015 (see Fig 2).

This was driven primarily by growth in interest income, as well as foreign exchange income. Profit before tax stood at NGN 165.14bn ($524.7m), representing a growth of 37 percent since December 2015. The bank’s loan book also grew 16 percent, from the NGN 1.37trn ($4.4bn) recorded in December 2015 to NGN 1.59trn ($5.1bn) in December 2016, with corresponding growth in total deposits increasing 29 percent, to NGN 2.11trn ($6.7bn).
Likewise, the bank’s balance sheet remained strong with a 19.7 percent growth in total assets and contingents, reaching NGN 3.70trn ($11.8bn) at the end of December 2016, while shareholders’ funds reached NGN 504.9bn ($1.6bn). The bank’s non-performing loans remained low at 3.29 percent – below the regulatory threshold of 3.66 percent, with adequate coverage of 131.79 percent. Against the backdrop of this result, return on equity (ROE) and return on assets closed at 35.96 percent and 5.85 percent respectively.
According to Agbaje: “The vision of the bank is to build an oasis in a country that was not necessarily known for doing things properly, so we focused on ethics and integrity. And once you build anything on that type of foundation – because even though things change, values never change – and bring in very young people who imbibe this culture along with a healthy attitude towards work, you have a workforce that’s very young and dynamic, possessing all the right values to enable you to build a successful organisation.”
Pan-African
GTBank is building on its successes both at home and abroad through its ‘Pan-African’ growth strategy. Apart from its home market in Nigeria, the bank enjoys a presence in three countries in east Africa (Kenya, Rwanda and Uganda), five in the west (Ivory Coast, Gambia, Ghana, Liberia and Sierra Leone) and has plans to have another in Tanzania by the end of the year.“Our strategy has always been to go into a country and take the high end of the middle market, and then as we grow, enter into the corporate markets.
“We are building a high-end type retail business because the middle class is emerging in most countries in Africa, and where you have an emerging middle class, you have a lot of banking opportunities. So far, we have been fairly successful, delivering an ROE after tax of over 25 percent.”
The bank’s expansion strategy has enjoyed remarkable success, with businesses outside Nigeria now accounting for 15 percent of total deposits, 11 percent of its loans and around 8.2 percent of its profit. Over the next three years, Agbaje expects subsidiary contribution to grow further, to approximately 20 percent.
more details at http://www.akelicious.com/2017/06/digital-banking-holds-key-to-financial.html

The Indigenous People of Biafra (IPOB) yesterday replied former governor of Kano State and a serving senator, Alhaji Rabiu Kwankwaso for calling on Igbo leaders to disown Biafra agitators to show sincerity to Nigeria unity.

The group said Igbo leaders he referred to are not relevant.

The Media and Publicity Secretary of IPOB, Emma Powerful, in a statement said Kwankwaso should be made to understand that those his Igbo leaders he is hoping to call upon to destabilise IPOB no longer matter in the society as they are the ones causing the delay in the restoration of Biafra due to their sabotage.

“IPOB and its leadership worldwide, led by Mazi Nnamdi Kanu are not working with the so called Igbo leaders.
“We believe that IPOB’s quest for restoration of Biafra is not for everyone who does not believe in freedom and we are ready to work with anybody who is sincere and not those who sabotage the struggle for selfish gain.
“Even if Kwankwaso disowns IPOB and other Biafra agitating groups, it will not stop the activities and determination of IPOB to achieve Biafra restoration.
“IPOB is a mass movement, it is God-ordained project, just as it is more than Kwankwaso and the people he and his cohorts are sponsoring against Biafrans of Igbo extraction in the North, but we pity them because they do not know that Biafrans of today are not the same breed as those of 1967 and 1970.
Britain should take note of the warmongering by Arewa Northern Nigeria and caution them to be more civilised in their utterances because threats and intimidation does not work with IPOB.
“We in IPOB do not care if anybody or hired group from anywhere in Nigeria, disowns us, our focus is on Biafra restoration.
“Our leader is focused, determined and unyielding in his quest to achieve Biafra and nothing will make us change our minds, not even the threat by Northern youths against Biafrans living in the North will make us change our mind.

more at http://www.akelicious.com/2017/06/ipob-replies-kwankwaso.html

According to facebook user who share it said.Our Israel brothers has come to realize that we Biafrans are among the twelve lost tribe of Israel , the real sons of Chiukwuokikeabiama. He is one of our Isreal brother by name Kristopher Shoemaker his Biafran name is Tochukwu.
more photos at http://www.akelicious.com/2017/06/photos-biafrans-fans-from-israel-rock.html?m=1

A bridge in Kenya's Budalang'i Constituency near the border with Uganda has collapsed a fortnight after President Uhuru Kenyatta inspected it.


The $12 million (Sh1.2 billion) Sigiri Bridge, in Budalang'i Constituency, Busia County, was being constructed by the Chinese Overseas Construction and Engineering Company.


The cause of the collapse was yet to be known, though it was suspected the construction was hurriedly done ahead of the president’s visit.


Concrete slab


During the inspection, Project Manager Jerome Xzue Hua said they were focusing their attention on the concrete slab and embankment.


“We did not focus much on road construction on the northern side because the most critical point of construction is the bridge’s slab.


"We expect to complete the bitumen work at the end of June for the entire 3 kilometres for both the northern and southern parts,” he had said.


Killing everyone


The project was expected to be completed by end of July.


The bridge is to link Bunyala North and South wards across River Nzoia.


On August 30, 2014, 11 people perished after a boat they had boarded capsized, killing everyone on board as they attempted to cross the river.


Was a blessing


Among those who perished was Brian Juma, a Form Three student whose burial, among other victims, was attended by President Kenyatta who promised that a bridge would be constructed to avert such deaths.


During President Kenyatta's tour, area MP Ababu Namwamba said the bridge was a blessing to residents since it would significantly reduce deaths and make it easier for people to access markets, schools and hospitals on either side.
more at http://www.akelicious.com/2017/06/kenya-bridge-collapses-days-after.html

i love this look of the bed what do u think
more photos at http://www.akelicious.com/2017/06/checkout-nollywood-actress-tonto-dikeh.html?m=1

Acting President Yemi Osinbajo on Sunday in Abuja met behind closed doors with President of Ghana, Nana Akufo-Addo.

The News Agency of Nigeria (NAN) reports that the meeting which took place at the Aguda House, Presidential Villa, Abuja, lasted for more than an hour.
Details of the meeting were not made known to newsmen as of the time of filing this report.
However, a senior protocol officer attached to the office of the acting president told NAN that the Ghanaian president was on a private visit to Nigeria.
President Akufo-Addo first visited Nigeria on Dec. 19, 2016 where he met with President Muhammadu Buhari in the Presidential Villa,Abuja. This was before his swearing-in on 7 January 2017.
Akufo-Addo later attended the Imo State Thanksgiving Day in Owerri.
more details at http://www.akelicious.com/2017/06/ghanas-akufo-addo-visits-osinbajo.html

Nigeria’s leading blogger Linda Ikeji of Linda Ikeji blog is the cover girl for popular style magazine This Day Style for the June edition.

Linda Ikeji whose grass to grace story has pushed half of Nigerians into the blogging business looked totally transformed in the photoshoot released this morning on her page and the magazine’s page.
Photographed as usual by talented photographer TY Bello, Linda has indeed broken the internet with the beautiful photos!
more photos at http://www.akelicious.com/2017/06/linda-ikeji-is-cover-girl-for-this-day.html

more photos at http://www.akelicious.com/2017/06/tekno-dapper-in-new-photos.html?m=1

Nollywood Actress Juliet Ibrahim have decided to cut hair.She looking gorgeous in new hair cut style.
more photos at http://www.akelicious.com/2017/06/juliet-ibrahim-shows-of-her-new-hair.html?m=1

Well for saying that there is no internet in Ghetto got alot infuriated adding to one of his previous interviews where he also said that he does free shows.
Check out the reactions

hibeonlinesturvs: See as Oyibo is patronising him and fingering his brain to talk shit and he is dancing like a prize monkey giving them material.I don’t think this is weed it’s simply lack of enlightenment and education.Naeto C,Lynxx,Kemi Adetiba,Banky W to mention a few celebs who are enlightened and educated will never use their parents and their country as toothpick in this manner.
ms.omotee: No cable or internet in ojuelegba , ori wizkid ti daru

ok_skincare_product: This is the reason why these white folks be thinking all Africans leave in hut…. U can imagine,how can u say ojuelegba is a ghetto without cable ehn…
lola_galore: There is internet in the ghetto. It’s in the city, it’s not disconnected from the rest of the town. Of course there is dstv and internet. It’s a matter of how many people can afford it. You’ll be surprised the number of people that do not joke with their dstv monthly subscription in the ghetto. And people do make a budget for how much data they can afford to buy in a month. The ghetto is not a backward place, it is just underdeveloped, filled with people of limited means.
ibrahimlawal96: That was how he lied about the free shows he has done for his fans. WeedKid
ibrahimlawal96: @bankywellington bro why you free this dude? He’s becoming something else, weed has taken his brain.
omograndma: Abeg how is SMALL LONDON A GHETTO? Eyin temi ni SURULERE oo SE WA?
anruchi: The kid don high finish….
iamegostar: When we say stop smoking and sniffing all these hard drugs…. dem no go hear. . See as d boy jus dey mis-yarn….
sampson_able: Oyinbo pay for cable, so as we have internet too in Naija, Ojuelegba of all places. Kontinue de-repping your home for attention o
turaii_: Please surulere is far from ghetto, I live here… Dude didn’t even grow up in ojuelegba.. he keeps saying ojuelegba cos of his song.. he grew up in surulere in a place called small London.. and almost everybody has dstv or gotv.. total BS
stevechuks_: Ahan but wait my friend and his family have Go TV Na and they live in Ojuelegba! Wassup with uncle’s lies??. Everyone wants to have a super story! Wale Adenuga Oshi
sharonowen100: Dear wizzy….know your limit with all this highness….it’s so sad to see you loosing it
borsydoh: What’s wrong with this boy lying up n dan
i.am.austino: Bro ur mama get Dstv no dey lie
more at http://www.akelicious.com/2017/06/wizkid-comes-under-fire-for-describing.html

Barely 24 hours after a chairman of a political group, Northern Youth Leaders Forum, Elliot Afiyo, said the group has screened former Vice President Atiku Abubakar and four others to run for the 2019 presidential race, the Adamawa State branch of the All Progressives Congress (APC), declared its support for President Muhammadu Buhari and Vice-President Yemi Osinbajo’s second term in 2019 and described the group’s position as a child play.

While speaking to journalists yesterday in Yola, the National President of Buhari/Osibanjo Campaign Organisation, Alhaji Yahaya Hamajulde, said the 2019 ticket of the duo has been sealed by God and that those looking for political jobs through the next presidential election should turn to other ventures, noting that the contest for the presidency is over.

According to him, “God has already nominated Buhari and Osinbanjo for the 2019 presidency, so it is better for those that have the intention to contest for the office to turn their ambitions to other profitable ventures instead of wasting their resources, time and energy on an issue that God has settled.”

Hamajulde who reminded Atiku that the APC primaries defeat he suffered in the hands of Buhari in 2014 in Lagos will repeat itself come 2018 and that with the success the Buhari’s administration has exhibited within two years in office will make the presidential poll an easy fight to return the duo.
He advised members of the political group to channel their energies on ventures that can generate self-reliant jobs for them instead of promoting products that are without manufacturing and expiring dates at the detriment of their future.
“Every body or any group recognized or unrecognized has the right to say what they want, but the fundamental question is of what political value is the group or the person speaking. What political influence did he have in his polling unit? It is not the day of the market that is important, but do you have anything to take to market on that market day?”
more at http://www.akelicious.com/2017/06/atiku-not-threat-to-buhari-in-2019-says.html

Indid she is looking like Goddess
more photos at http://www.akelicious.com/2017/06/nicki-minaj-looking-like-real-life.html?m=1

The Rivers State Police Command have arrested a 47-year-old pastor who raped and impregnated a 13-year-old girl in Rumuorlumeni, Port Harcourt. The yet-to-be named pastor was arrested by SP Kingsley Chukwueggu, the DPO of Rumuorlumeni Division. The suspect was paraded at the state command by the Commissioner Of Police Rivers State, CP Zaki Ahmed. Listen to the victim narrate her ordeal in the video
full details at http://www.akelicious.com/2017/06/47-year-old-pastor-rapes-and.html

An engraved gold Cartier watch given to Jacqueline Kennedy and a reciprocal thank-you painting from the former first lady sold for $379,500 at auction in New York on Wednesday, Christie’s said.

The Tank watch was given to Kennedy by her brother-in-law, Prince Stanislaw “Stas” Radziwill, in February 1963 to commemorate a 50-mile hike in Palm Beach championed by former president John F. Kennedy in a drive to make Americans fitter.
The back of the timepiece is engraved: “Stas to Jackie, 23 Feb. 1963. 2.05am to 9.35pm” — the start and finish of what turned into a 19-hour, 30-minute hike.

In exchange the first lady gave Radziwill a painting she made of him and Chuck Spalding, a close friend of the president’s, with the dedication: “February 23, 1963 2.05am to 9.35pm / Jackie to Stas with love and admiration.”
Kennedy was often photographed wearing the watch, which smashed pre-sale estimates of $60,000 to $120,000, together with the painting, to sell after three minutes of bidding and more than a dozen individual bids, Christie’s said.
“In 20 years I’ve been selling watches, I’ve never seen so much excitement,” John Reardon, international head of watches at Christie’s, told AFP ahead of the sale.
“Many of the most iconic photographs of her, you can see the Cartier Tank in the corner of the picture on her wrist,” Reardon said.
The identity of the buyer was not immediately disclosed, but Reardon said potential buyers from Asia, Europe and the United States expressed interest in having “a little piece of Camelot to put on their wrist.”
He described the condition of the more than 50-year watch as “extraordinary considering its age” and said its current strap had been worn by Kennedy.
“She preferred to wear a lizard strap, when she had this piece on her wrist for decades, and this is the actual strap that she wore for many years,” he said.
more at http://www.akelicious.com/2017/06/jackie-kennedy-watch-fetches-nearly.html

A 42-year-old Ghanaian man identified as Ibrahim Musah has been arrested by the Legon Police in Accra, for stabbing his girlfriend in the neck, over suspicion of cheating. The victim, Zara Hussein is a student of the University of Ghana, and a resident of Akuafo Hall in Accra.

Citi FM reports that the suspect on Friday night came to the school’s campus to visit Zara but found another man in her room.

Musah, who felt Zara had been cheating on him confronted her visitor and at the height of the altercation, Zara defended the male guest. An unpleasant Musah who couldn't withstand the embarrassment barged out of the room and returned with a piece of a broken ceramic and aggressively stabbed Zara with it.

He was also reported to have assaulted the gentleman who he suspected was Zara’s new boyfriend.Zara who became unconscious after the attack was rushed to a hospital, where's receiving medical treatment.
Campus-based Radio Univers reported that the suspect confessed to the crime.
Musah, who is a committed Muslim said the victim was his fiancée and they had planned to get married after the Ramadan.
According to him, he came to campus to visit her after she called him to inform him she was not feeling well.
His attempts to reach her by phone proved futile so he decided to visit her and found out that she was spending time with another man in her room.
He, however, noted that Zara had not shown interest in him for the past few months despite their planned marriage.
more at http://www.akelicious.com/2017/06/jealous-lover-stabs-girlfriend-after.html

According to E! News, multiple sources close to the Carter household have confirmed that she has given birth to her twins with husband, Jay Z in L.A. More details later! Congratulations to Jay Z, Beyoncé and Blue Ivy
more at http://www.akelicious.com/2017/06/waoooo-beyonce-and-jay-z-welcome-twins.html

The Commissioner for Commerce, Industry and Co-operatives in Lagos, Prince Rotimi Ogunleye, said a total of N698.47million has been so far released for infrastructural development in the Lekki Free Zone Development Company (LFZDC).

Speaking during a business meeting with members of the Diplomatic Community at LFZDC recently, he said the Lekki investment hub is not only meant for Chinese companies but other investors across the globe are welcome to invest. .

According to him, “the state government is committed to promoting sustainable commercial and industrial growth,” stressing further that the “funds released to the zone is to ensure speedy development and honour the state’s obligation on counterpart funding of the project.”

He also disclosed that about N740.461 million had been given as compensation to host communities comprising Yegunda and Abomiti as well as Lekki-Epe International Airport Zone.
While presenting his progress report, the Managing Director, LFZDC Ding Yonghua, said Phase one of the Zone will create 30,000 employment opportunities, with a population of about 120,000 people residing in the premises.
He also said the LFZDC is controlled by transparent and efficient management service, adding that good infrastructure, adequate security, water treatment plant, sewage plant, and 24 hour power supply are all available in order to enhance the ease of doing business in the Zone.
He also explained that in addition to incentives being provided by the government, the management of Lekki Free Zone will provide further incentives to encourage investors that situate their factories within the Zone.
The Lekki Free Trade Zone is being developed as an industrial harbor city with transportation advantage with the Lekki Deep Seaport, which is less than three kilometers from the Zone.
The proposed international airport is to be situated about 10 kilometers from the Zone, and access to the inland waterways with an extensive and well planned rail and road access.
more at http://www.akelicious.com/2017/06/lagos-releases-n-698billion-for-lekki.html

Today, a Thai courted ordered all Facebook pages and Youtube videos with elements of Royal Insults and inappropriate content to be shut down.

According to Takorn Tantasith, Secretary-General, National Broadcasting and Telecommunications Commission (NBTC) “web pages with alleged royal insults were among a total of 965 pages deemed illegal, with others containing violence, copyright issues and other inappropriate content'.

Takorm continued to say,

'“among the 965 pages, 569 of them were on Facebook and 373 on YouTube. “Although nearly 100 percent has been blocked, the NBTC has instructed ISPs [internet service providers] to keep monitoring online content."

more at http://www.akelicious.com/2017/06/finally-thailand-shuts-down-facebook.html

Real Madrid star Cristiano Ronaldo faces a lawsuit filed on Tuesday by the prosecutor office in Madrid for allegedly defrauding Spanish tax authorities.

The Portugal captain was accused of not paying in tax about 14.7 million euros (about (N7.5 billion) between 2011 and 2014.

The prosecutor’s office said in a statement that the Real Madrid forward had knowingly used a business structure created in 2010 to allegedly hide his image rights income in Spain.
This involved a “voluntary’’ failure to comply with his tax obligations in Spain, the statement from the office’s economic crimes section said.
The four counts of tax fraud were based on a report from Spain’s tax agency, it said.
Real Madrid declined to comment and calls to the agency representing Ronaldo, Gestifute, went unanswered.
Ronaldo is the latest in a long line of football players in Spain — among them FC Barcelona’s Lionel Messi and Neymar — who have been caught up in cases over tax or transfers.
He had led Real Madrid to their 12th European Cup earlier this month.
The News Agency of Nigeria (NAN) reports that between 2005 and 2010, foreign players in Spain were protected under the so-called “Beckham law” allowing them to curb their taxes.
But as the financial crisis bit deeper, that exemption was lifted, paving the way for the cases.
The prosecutor’s office alleges that Ronaldo had defrauded the tax authorities of 1.4 million euros in 2011, 1.7 million euros in 2012, 3.2 million euros in 2013 and 8.5 million euros in 2014.
Ronaldo, who is from Portugal, became a Spanish tax resident in January 2010 and in November 2011 opted to follow the Spanish tax regime that applies to foreigners working in Spain, the statement said.
He should have paid a tax rate of 24 percent in 2011, and 24.75 percent in the three following years, it said.
The prosecutor said that after Ronaldo signed a contract to join Real Madrid in December 2008 he ceded his image rights to a company called Tollin Associates Ltd.
The company is domiciled in the British Virgin Islands and in which he was the only stakeholder.
Tollin Associates then ceded his image rights to a company in Ireland called Multisports&Image Management Ltd which was responsible for managing them.
Tollin Associates itself had no business activity, the statement said.
“Ceding image rights to (Tollin Associates) was completely unnecessary and its only purpose was to create a screen to conceal the totality of his image rights income from the Spanish tax authorities,” the statement said.
The prosecutor’s office filed the lawsuit against Ronaldo on Tuesday to a court in the Madrid district of Pozuelo de Alarcon.
Ronaldo finished the 2016/2017 season scoring two goals in a 4-1 victory over Juventus in the UEFA Champions League final to become the tournament’s top scorer with a total of 12 goals.
Afterwards, Spanish sports newspaper Marca called Real Madrid, who also won La Liga this year, “masters of the universe”.
In May, Spain’s Supreme Court rejected an appeal by Messi and stood by a Catalan regional court’s 21-month prison sentence for defrauding authorities of 4.1 million euros on image rights.
more details at http://www.akelicious.com/2017/06/ronaldo-in-15m-euro-tax-fraud-allegation.html

The National Bureau of Statistics (NBS) said that Nigeria generated the sum of N204.77 billion as Value Added Tax (VAT) in the first quarter of 2017.

VAT is a consumption tax that is placed on a product whenever value is added at a stage of production and at final sale.

The NBS stated this in a Sectorial Distribution of VAT Data for first quarter of 2017, published by the bureau on Tuesday in Abuja.

The report showed that the N204.77 billion generated in the quarter was lower than N207.35 billion generated in the fourth quarter of 2016.

According to the report, the decline in the amount generated represented 1.25 per cent decrease quarter-on-quarter.

Comparing the amount to the first quarter of 2016, the report stated that VAT generated was N186.43 billion in first quarter of 2016, representing 9. 84 per cent increase year-on year.

The bureau stated that other manufacturing sector generated the highest amount of VAT with N28.73 billion generated.

It stated that it closely followed by Professional Services and Commercial and Trading, both generating N20.82billion and N12.89billion respectively.

The bureau stated that Mining generated the least, and was closely followed by Local Government Councils and Textile and Garment industry with N35.07 million, N99.84 million and N230.89 million respectively.

It further stated that out of the total amounted generated in the first quarter of 2017, N126.64 billion was generated as Non-Import Value Added Tax locally.

In addition, it stated that N31.72 billion was generated as Non-Import VAT for foreign, while the balance of N46.41 billion was generated as Nigeria Customs Service-Import Value Added Tax in the quarter under review.

The bureau, however, acknowledged the contributions of its strategic partner, the Federal Inland Revenue Service (FIRS), and technical partner, Proshare in the design, concept and production of the publication.
more at http://www.akelicious.com/2017/06/fg-get-n204bn-from-vat-in-three-months.html

The Igbo socio-political group, Ohaneze Ndigbo, has dissociated itself from the agitation for secession and stead opts for the restructuring of the country.

The group, a representation of elders of South East, flayed the campaign launched by Mr. Nnamdi Kanu, the leader of the Independent People of Biafra (IPOB) to secede from Nigeria.
The elders insisted that the restructuring of Nigeria was the solution to the political and economic problems of the country.
The attempt by the region to secede led to the three years civil war from 1967 to 1970 in which over two million people were killed.
Kanu, is currently facing treason trial, but released recently following intervention by the elders.
The Deputy National Publicity Secretary of the Ohanaeze, Mr. Chuks Ibegbu, said in Abuja on Monday that the group believes more in a restructured Nigeria.
They want a Nigeria that has a level playing field for all sections of the country; “a Nigeria that gives each part of the country a sense of belonging’’.
“For example, in a country of 36 states, the South-East has five states and 95 local governments; while Kano State alone has 44 local governments.
“The other time, we saw the statistics of recruitment in the Department of State Services with Katsina State alone having 51 allocations.
“Yet, we have the Federal Character Commission.
“We want the FCC to investigate the recent recruitment in the DSS. Abia State got only six allocations; Enugu State, six; Katsina, the home state of President Muhammadu Buhari, got 51 slots.’’
He said that there was no level playing ground in Nigeria, stressing that Abia State alone produces more graduates than 10 states in the North combined, “yet you gave them only seven opportunities and gave Katsina 51’’.
“We are not saying Nigeria should be divided, but the issues these young men are talking about should be addressed. Instead, it seems they want people like Nnamdi Kanu to shut up without addressing the issues, judging by the bail conditions (they gave him).”
He said that the issue of secession should be forgone, adding that what Nigeria needs now is restructuring.
more details at http://www.akelicious.com/2017/06/ohaneze-ndigbo-dissociates-self-from.html

Almost every third person worldwide is overweight or obese, and rates are rising among children, according to research published Monday.

The prevalence of obesity has doubled since 1980 in more than 70 countries and risen in most other countries, according to the study in the New England Journal of Medicine which covered 195 countries from 1980 to 2015.
In 2015, excess weight affected 2.2 billion children and adults. Roughly 700 million of that number, including almost 108 million children, were obese.
“Excess body weight is one of the most challenging public health problems of our time, affecting nearly one in every three people,” said lead author, Ashkan Afshin, of the Institute for Health Metrics and Evaluation (IHME) in Seattle, US.
Among the world’s 20 most populous countries, the United States had the highest level of obesity among children and young adults at nearly 13 per cent; while Egypt topped the adult obesity list at about 35 per cent.
The global obesity average was 5 per cent among children and 12 per cent among adults.
Bangladesh and Vietnam had the lowest portion at roughly 1 per cent in each respective category.
Another finding was that 4 million people died in 2015 due to illnesses linked to excess weight or obesity. Cardiovascular disease accounted for two thirds, followed by diabetes, kidney disease and cancer.
Obesity was defined as a body mass index (BMI) exceeding 30. The index is based on individuals’ height and weight. “Overweight” was a BMI between 25 and 30.
more at http://www.akelicious.com/2017/06/almost-1-in-3-people-worldwide.html

A magnitude-6.2 earthquake struck off the coast of Western Turkey on Monday, the country’s disaster and emergency authority said, rattling the Aegean coast and Greece.

The disaster and emergency authority said the quake hit at 1228 GMT.
Tremors were felt in the coastal city of Izmir, some 330 kms away in Istanbul as well as in the provinces of Canakkale and Bursa.
The U.S. Geological Survey said it took place at a depth of five kms and hit about 31 km south-west of Mytilini on the Greek island of Lesbos.
Broadcaster CNN Turk said there were no immediate reports of casualties or damage.
more at http://www.akelicious.com/2017/06/magnitude-62-earthquake-strikes-off.html

A Social group, Imo Billie Initiative for Social Justice, has urged Imo State governor, Rochas Okorocha, to properly utilise the over N14b second tranche of Paris Club refund, disbursed by the Federal Government.

In a statement signed by the group’s National Coordinator, Aku Obidinma, and General Secretary, Dr. Uzochukwu Chukwuebuka, made available to The Guardian, yesterday, the body said it knows that while workers and retirees in others states would be happy over the released fund, Imo’s case would be different, as there could likely be a diversion into irrelevant projects.


The statement read: “We are convinced that Imo government’s refusal to fully pay pensioners and workers cannot be attributed to lack of funds, but rather lack of will to do so. With the current release of fund, we, therefore, call on Governor Rochas Okorocha to immediately clear the arrears owed Imo State workers and pensioners.”
The statement also urged Imo House of Assembly to sit up and execute its oversight function by ensuring that the funds were used to pay affected persons, as advised by the Federal Government.
more at http://www.akelicious.com/2017/06/paris-club-refund-group-urges-okorocha.html

Death toll from Wednesday’s Maiduguri multiple bomb blasts and Jiddari Polo Boko Haram attacks have risen from 18 to 23, after emergency rescue teams evacuated 86 victims to University of Maiduguri Teaching Hospital (UMTH) and State’s Specialist Hospital for medical attention.

Medical Director of the state Specialist Hospital, Dr. Laraba Bello, disclosed this when she took the Executive Director of Victims Support Fund (VSF), Prof. Sunday Ochoche, round to injured victims admitted in hospital.

She said out of the 32 patients evacuated from the blast scenes, two died on Friday, adding that 23 were discharged, while 29 are responding to treatment for injuries ranging from multiple fractures, trauma and loss of blood from explosives shrapnel.

Dr. Bello said that VSF has assisted and contributed a lot for the procurement of drugs and hospital consumables to treat Boko Haram victims from various parts of the state.
Earlier, Chief Medical Director of UMTH, Dr. Abdulrahaman Tahir, told Prof.Ochoche that VSF donated N30m to the hospital for the treatment of over 900 victims of insurgency in the last two years.
“We have no problem accessing the funds donated by VSF for the treatment of Boko Haram victims. We have been utilizing the money judiciously since 2015 and we have received a total of N30m Dr. Tahir said.
more at http://www.akelicious.com/2017/06/maiduguri-multiple-blasts-death-toll.html

Wearing a Barcelona shirt in Saudi Arabia now risks a €135,000 fine and up to 15 years in prison.

The change in law follows the cutting of diplomatic relations and borders with Qatar, who the Saudi Kingdom this week accused of supporting ISIS.
Saudi Arabia have moved to punish Barcelona’s shirt sponsors of four years, Qatar Airways, whose company logo adorns the Spanish club’s kit and other promotional material.

According to Sky Italy, those caught wearing shirts with the Qatar Airways wording now face a €135,000 euro fine and up to 15 years in prison.
A ban could now follow in countries that sided with Saudi Arabia in the international row including the United Arab Emirates, Egypt, Yemen and Bahrain.
Barcelona are, however, switching shirt sponsors to Japanese online retailer Rakuten from the 2017/18 season for four years.
Paris Saint-Germain were also affected this week as the Ligue 1 club’s Qatari owners have a shirt sponsorship deal with Emirates, but the UAE’s national carrier have stopped flights between the two countries.
But the French club, who have two more seasons with Emirates, told Le Parisien: “It will have no effect on the club, there is no worry.”
more at http://www.akelicious.com/2017/06/saudi-arabia-bans-barcelona-jerseys.html

This inappropriate photo was shared on Amber's page some minutes ago, with the caption #amberroseslutwalk. The photo of the mother of one wasn't censored, but we had to censor it.
more photos at http://www.akelicious.com/2017/06/see-what-amber-rose-shared-that-set.html

The Senate has resolved to take steps to curtail all threats to the continued existence of Nigeria as a united and peaceful country. The resolution came at a time of numerous agitations in the country.

On Thursday, in Kaduna, the northern youth groups that gave an ultimatum to Igbos to leave their region by October 1, this year reaffirmed their Wednesday stand, asking the Federal Government to hold a referendum for the actualisation of Biafra Republic.

At a special mid-term session that attracted former presiding officers of the Senate and National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun, senators noted that it has become very important to take decisive actions to halt factors against Nigeria’s unity.

Senate President Bukola Saraki, who presided over the session that lasted two hours, said the Senate must stand for a non-negotiable and united Nigeria. Saraki noted that unity and peace were key issues that must be guaranteed for any meaningful development to take place.
“We must stand clearly and act clearly to defend this country. The unity of this country is not negotiable” Saraki said. Many lawmakers who spoke also stressed the urgent need to pay attention to songs of disunity currently emerging in many parts of the country.
Former senate minority leader, George Akume (APC, Benue North West), particularly charged the Senate to stand firmly against the “drums and songs of war” being heard in parts of the country and make a strong statement against persons or groups beating drums of ethnic and religious hatred among the citizenry.
In his own remark, Shehu Sani, (APC, Kaduna Central) asked the senate to address the question of injustice, which he said was the singular issue capable of tearing the country apart.
Sani noted that the country was facing threats of secession because of issues relating to injustice and unfairness, adding that most of the problems bedevilling the country had their roots from injustice.
Minority Leader, Godswill Akpabio, noted that the stability of the senate arose from the support and cooperation given by the Peoples Democratic Party (PDP) senators, who he said were not there to undertake destructive criticisms.
Akpabio said the minority caucus was fully aware that the failure of the APC-led government could affect the entire country, irrespective of party affiliation.
George Sekibo (PDP,Rivers East) believed the senate was being distracted from carrying out its responsibilities, saying cases of harassment of lawmakers by security agencies in the name of fighting corruption would not augur well for smooth legislative atmosphere.
Pointing to Oyegun, Sekibo declared that the APC must call the agencies to order, so that things could work well. But Dino Melaye (APC, Kogi West) condemned what he called selective application of laws by the executive arm of government.
Citing Ibrahim Maguís continued stay in office as acting chairman of the Economic and Financial Crimes Commission (EFCC), Melaye noted that the Presidency had shown serious disrespect for the National Assembly by keeping him in that position.
more at http://www.akelicious.com/2017/06/nigerias-unity-is-not-negotiable-says.html