5. The National Association of Airlords

AKA: Supreme Eiye Confraternity
Greeting: Haber krier
Colours: Blue

This is a very common cult group in the Southwest and also one of the most violent. It was formed at the University of Ibadan in 1963, also affiliated to the Eiye Secret Society, which exists in the western part of Nigeria. The date, August 8(8- is sacred to members as their anniversary. Members call themselves Birds, Airlords, Fliers, Airforce
Popular sayings: Secrecy, Autocracy, Discipline, Brotherhood, No Friend No Foe

4. The Norsemen Club of Nigeria

AKA: Supreme Vikings confraternity
Greeting: Aro mate
Colours: Red, black

This is a very dominant cult group in the South East and South-South. It was founded in the University of Port Harcourt in 1982 by 3 young men with codenames; Rising angel, Eric De Red, and Troppence. They have another arm in the secondary schools called Junior Vikings(JVC). The fraternity is modelled after the historical Viking tribe in the Scandanavia and adopted some practices of the Nazi German government of Adolf Hitler. Members call themselves Germans, Baggers, Kings, Executioners, Adventurers

Popular sayings: Blood on the high sea, Singing songs of Hojas, Never to hang a leg, Even in the face of death.

3. The Neo-Black Movement of Africa
AKA:
Greeting: Aye Axemen! Dodorima
Colours: Black, white, yellow

This is one of the most violent and deadly cult groups today. It is modelled after the neo-black movement in South-Africa which was formed to fight for the liberation of the black man against Apartheid. It was formed at the University of Benin in 1976. Its symbol is an axe cutting through a chain binding the two hands. Members call themselves Aiye, Axemen, Seven (7) or Amigos. They use the number 7 and usually celebrate their anniversary on July 7(7-7)

Popular sayings: The Blackman will be freed with an axe, No f*ck ups, Forgiveness is a sin, Don’t betray your brother in the hood, Obey before complain or Abeyance, He who price must pay.

2. Buccaneers Association of Nigeria (BAN)

AKA: Sealords
Greeting: Awumen
Colours: Yellow and white

BAN was created by Bolaji Crew who was expelled from the Pyrates Confraternity and the group is built after the Pyrates structure. Members call themselves Lords, Bucketmen, Fineboys, Alora.

Popular sayings: No Price No Pay, No brothers in the wood, No laughing on board, Blood for blood, Let the devil that lead you guide you.

By Dede Falana, Today's Echo

Fraternities or Cults as they are known in Nigeria, are secret societies usually made up of young people sworn to an oath of secrecy and cooperation. They communicate via secret languages and use secret symbols. They mobilize themselves to support a member’s cause or protect him when in danger. Consequently, they are usually involved in committing various acts of violence and are often the target of violence from other cult groups.

The fraternities originated in the Tertiary institutions but have spread into the streets. They initially started as secret groups promoting specific causes or ideologies but later became corrupted and served as tools for politicians and other powerful people. Today, campuses and communities live in fear of cult groups. They commit crime and get away with it. Cultists have been known to carry out deadly attacks that have left indelible marks on the memories of Nigerians. These include:

An attack carried out by suspected members of the confraternity on the Obafemi Awolowo University (OAU), Ife in the early hours of Saturday, July 10, 1999 led to the death of 21-year old 400-Level Law student and the then Secretary-General of the Students Union, George Iwilade, fondly called Afrika. Four other students were killed. They were shot dead in Blocks 5 and 8 of Awolowo Hall of the university.
In June 2012, clashes between the and Klansmen Confraternities left four people dead at the Cross River University of Technology(CRUTECH) and the University of Calabar(UniCal)
In June 2014, at least 15 people were killed in Uyo, Akwa Ibom State during clashes between the Vikings and Klansmen Confraternities
On January 15, 2016, two members of a cult group murdered a 21-year-old man in cold blood because he refused to buy them drinks
On March 14, 2016, three students of Abia State University were beheaded by suspected members of a cult group
In December 2016, seven people were killed in Otukpo, Benue State during clashes between unknown cult groups
In June 2017, clashes between rival cult groups believed to be and Eiye Confraternities led to the death of three people in Akure, Ondo State
The above and several more notable incidences have earned the confraternities a dreaded reputation and yet they continue to exist and in some areas members even flaunt their associations in public with pride. Often times, they are arrested and then released under questionable circumstances to return and terrorise the streets once more.

Owing to the growing menace of these cult groups, it is now pertinent to unmask them for the public so that you can identify the, stay away from them, and report them to authorities if possible. Below are the details of the top fraternities in Nigeria:

1. The National Association of Seadogs
AKA: Pyrates Confraternity
Greeting: Ahoy Seadog!
Colour: Red
This is the first fraternity to be formed in Nigeria. It was founded by Nobel laureate Prof Wole Soyinka and some other students at the University of Ibadan in 1952 to fight against injustice. It is modelled after the Skulls and Bones Fraternity in the United States. Pyrates is usually not called a cult group because it has strict guidelines for members and sets high academic barriers for becoming a member. The elitist practices of the Pyrates led to the formation of other confraternities that evolved to become a menace to the society.

Popular sayings: Odas is Odas, No Friend, No Foe (NFNF), Absolute No Lagging (ANL)

As part of its ongoing divestment, Shell  has reportedly initiated negotiations with local oil producers for selling two of its Nigerian oil licences in the Niger Delta, collectively worth $2 billion.

However, Today's Echo has gathered that  Shell is already in talks with business Tycoon and former CEO of the United Bank for Africa, Tony Elumelu on the deal.

According to a July 21, 2018 report on Bloomberg, the Anglo-Dutch oil major is discussing selling Oil Mining Licenses (OML) 11 and 17 to Heirs Holdings Ltd., a company run by Nigerian tycoon Tony Elumelu, the people said.

Included in the sale are infrastructure assets such as a natural gas-fired power plant that would be managed by Transnational Corporation of Nigeria Plc, another company run by Elumelu.

Recall that due to the secrecy with which Shell has gone about this deal, Today's Echo had on July 24, 2018,  published a report asking if Shell’s Opaque Asset Divestment is  Another Malabu in the Making?

The SPDC is known to have sold a couple of prized assets in the Niger Delta in the last decade as it moves to divest its operations and move offshore. Besides Shell, other IOCs like ConocoPhilips, Agip, Total, and BG have sold assets that have been purchased by local companies leading to the rise of indigenous Exploration and Production giants like Aiteo, Eroton, Newcross, Oando, Seplat, etc. “The bidding process alone has allowed these companies to develop significant technical competences and operational maturity”, a source with the Ministry of Petroleum Resources of Nigeria says.

It is however, puzzling to curious observers that Shell has not subjected this particular transaction to the open competitive bidding like their previous asset disposal. This is worrisome to industry players and experts because part of a competitive bid is major technical assessments. Emphasizing on the importance of technical adeptness of a company buying such important national asset, a senior staff of NNPC who prefers anonymity explained: “a competitive bidding round has always been our approved mode of divestment as it is not just about the commerciality. The public is often carried away by only the figures, but the technical bid is even far more important as the ability to sustain the asset is predicated on the technical competence of the bidder. As it stands, only Shell is about to win here as it will pocket the $2 billion and walk away clean from an asset that has only months to expire, leaving Nigeria to grapple with whether the asset is subsequently viable or not.”

Although Tony Elumelu is a seasoned business man and reputable entrepreneur, he is also the chairman of Transnational Corporation of Nigeria Plc (Transcorp), a diversified conglomerate that purchased some Federal Government assets under controversial circumstances during the regime of President Olusegun Obasanjo.

Bloomberg reports indicate that “discussions between Shell and Elumelu have been advanced at times and run into hurdles at others as he is yet to secure financing, the people said. No deal has been reached and the talks could still fall apart.”

A recent analysis by Today’s Echo from a report by international media outlet, CNN indicates that Nigeria is Africa’s fourth largest destination for Chinese Foreign Direct Investment(FDI).

Chinese involvement in African economies has grown over the couple of years as the Chinese economy itself continues to grow.

In the aftermath of the 2018 Forum on China-Africa Conference, the CNN reported that China is giving $60 billion in aid to Africa, the same amount that was given in 2015. Chinese investment in 2015 has been analysed and broken down according to countries in Africa.

According to CNN, South Africa has the highest Chinese FDI at $4.72 billion while Congo DRC is second at $3.24 billion. Algeria is third at $2.53 billion while Nigeria comes third at $2.38 billion.

China has now passed France, India and the United States as Africa’s largest trading partner. But total trade between China and Africa slowed from $220 billion in 2014 to $170 billion in 2017, according to the Chinese Ministry of Commerce, prompting concerns that relations might be cooling.

Janet Eom, a researcher at CARI, says this decline is mostly due to falling commodity prices. Given China’s recent trade war with the United States, Eom said that Beijing’s commercial relationships with African nations are likely to become “much more important.”
In July, Xi visited Senegal, Mauritius Rwanda, and South Africa — an itinerary that almost took him to the four corners of Sub-Saharan Africa — showing that China still prioritizes diplomatic trips to the continent.

Private business delegations have arrived “in droves” at this year’s FOCAC, said Stevens, and are pushing China to narrow their country’s trade deficits with Beijing. “Chinese exporters are finding very fertile soil in Africa,” he said. “But when increased domestic demand is met by Chinese imports rather than increased capacity at home, it’s not palatable from an African perspective.”
Chinese companies will also be expected to invest $10 billion in Africa in the next three years, according to Monday’s announcement.

Following the suspension of David Bejide, the Managing Director of Guaranty Trust Bank(GTB) in Liberia for assaulting a staff, a former employee who served under him at First City Monumental Bank has revealed shocking details about him to Today's Echo.

David Bejide was suspended as MD Liberia by the Central Bank of Liberia(CBL) yesterday after he had beaten up an employee under him. A video of the encounter surfaced of Facebook showing his victim, Edward Freeman bleeding profusely from the lips. The video has since sparked outrage across West Africa leading GTB to release an official statement on the issue, stating that David Bejide has been suspended indefinitely while the bank has launched an investigation into the matter.


Today's Echo has however, found out from a reliable source that this was not the first time the embattled GTB Liberia boss would be assaulting employees under him. According to our source who claims he had worked under him at FCMB, David Bejide has anger issues.

"I used to work under David Bejide when he was in FCMB. He came from GTB and went back to GTB. He was known for his anger issues. Bejide had assaulted several employees physically and emotionally and many people were scared of him. Sometimes you could hear him yelling from upstairs."

According to news sources, David Bejide has been arrested and will be subsequently taken to court for prosecution due to the severity of the wounds he inflicted on Edward Freeman, the assaulted employee who was on active duty.

In the meantime, CBL has appointed Amazu Nwachukwu, GTB Liberia's Chief Operating Officer, as Acting MD until the investigation is concluded.

The Federal Ministry of Power, Works and Housing has declared the damaged Iddo bridge in Lagos fit for use, saying it is okay structurally and that the broken parts of the bridge do not threaten its users in any way.

The Ministry announced its inspection of the bridge through a series of statements available on Twitter after some news outlets had raised alarm over some damaged portions of it.

"#FMPWH wishes to assure the good people of Lagos that Experts from the Ministry have examined the damaged part of Iddo Overhead Bridge (not Carter Bridge as mentioned in social media posts)."

According to the Ministry, the Director, Highways, Bridges and Designs in Works, Mr Adetokunbo Sogbesan, said that the Iddo Bridge is structurally okay and safe for use. Some tests had been conducted and the bridge is structurally okay and safe for use. The vehicles carrying excess load beyond the headwall of the bridge had knocked off outer slabs meant to beautify the bridge. The beams of the bridge had hollows which were covered by slabs but vehicles carrying loads beyond their headroom pulled off some outer covering of the bridge.

Ministry therefore said:

"there is no cause for alarm as the cracks caused by constant abuse of the Bridge has not affected its structural integrity and will be fixed in due course . The hollows are spaces. The structurally stability of the bridge both longitudinal and diagonal beams are structurally okay but for aesthetics measures the beams were covered with reinforced walls. It is the walls that are broken."

http://www.todaysecho.com/iddo-bridge-is-structurally-okay-and-safe-for-use-ministry-of-works/

This should be front page. This is justice but I hope an innocent person is not among them; you know Nigerian police na

http://www.todaysecho.com/beneficiaries-of-geep-marketmoni-interest-free-loan-hit-350000-nationwide/

Read up for those who don't already know about MarketMoni

It is a Federal Government Enterprise Empowerment initiative that gives small collateral free, interest free loans to micro-businesses(market women, artisans, etc), administered by the bank of Industry. So far, over 350,000 nationwide have been given the loans through their traders associations and Microfinance agents. In Lagos alone, over 31,000 have collected. A relatively new sister initiative is the TraderMoni, targeting street hawkers.

HypocriticalMod:


Trust me, you completely described me from a-z. I do every single of that buh i ain't gay and I'm sure!

11. He wants to feel how you feel during penetration, he wants you to insert your finger down there.

You do this one too?

The Special Assistant to the Acting President on Media and Publicity, Laolu Akande has referred to his boss, Yemi Osinbajo as 'President', in a press statement he issued out today, August 14, 2018.

This afternoon, Laolu Akande issued a statement showing that the Acting president has directed that the Inspector general of Police overhaul the Special Anti-Robbery Squad(SARS)

Today's Echo has noticed that Laolu Akande who usually signs press statements with 'Senior Special Assistant to the Acting President on Media and Publicity' at the end of such statement signed this one with 'Senior Special Assistant to the President on Media and Publicity'.


The president, Muhamadu Buhari is in London on medical vacation and the Vice President, Yemi Osinbajo is acting on his behalf. We are yet to know whether Laolu Akande's omission is an error or something bigger.

stanoc:
Honestly speaking I don't just get it. Why will someone say d guy paid her money? Money was not d only thing she invested in dt relationship, time, her sanity,her youthful life and also her ovaries were all invested into it. Now tell me dt money he gave her will it bring back all these things, not to even talk of her emotional stability. Now she accused him of cheating, but will u blame her for thinking dt way,d purse and everything pointed to d fact dt he was cheating,and with d same girl dt made her loose her chances of having babies. I mean she was only human to act fast, but at this point d guy didn't put in more effort to fight for her yet he claimed he loved her. OK o....as if dt was not enough, u claim to love her with all ur heart and all what u promised her when things wer tough u openly gave it to another woman. Come on....he had no respect for her pride, now tell me which girl will take dt? He was spiteful as far as I am concerned. Based on his actions,I'd say he never loved her,he just used her when he felt she had the means to help him,and when dt means depreciated her usefulness to him depreciated. Just cause he had a dream doesn't mean he shd avoid his responsibilities, I mean which capable man does dt, yet she still stayed with him,she only reacted dt way when she heard he was cheating because logically no loyal woman can stand a cheating husband. So if he really loved her he wld ve done everything to prove himself innocent. Mtcheeeeew....It's really disappointing for me to hear people blame Taraji alone. This is my take on this movie. Thank you.

Anti, she did not invest her ovaries. She lost them in a fit of rage. Some other women would have simply cried, others will simply quit the relationship. The truth is that if she wasn't comfortable with living with a jobless man, she should have left him. But we both know she couldn't leave him because she had hopes on the battery he was making. Taraji(Melinda) is not as innocent as we make her seem. This is a big lesson to women. I know men that have also put up with jobless women for like ever, and nobody bats an eyelid. I could blame the guy for being lazy and living on a woman but everything he did after the divorce was not his fault.

I really don't understand why some women don't want to have sense. First you refuse to walk away from a relationship you don't like simply because you were aiming for something in his future. Then you lost your ovaries in a fit of rage and he still stayed with you for 18 years knowing you can't give him an issue. You found something in his truck one day and decided you are done. Fine, when you walked away finally, it should be without looking back. Didn;t you go ahead to f--k another guy?

It's like when you invest in a bad business and you decided to close up and walk away. You can't be expecting gains from what you have walked away from na.

The guy even came back with $10mil. This is where I blame the guy. He should just have disappeared with his money and his wife jejely so that the ex will not even know what's happening to him.

Nigerian Hip hop act, Wizkid has added another to his list of international feats as he features in new super Nike ad alongside some of the greatest past and present football stars, including Neymar, Coutinho, De Bruyne. Aubameyang, and Ronaldinho.

The new Nike ad is about a mysterious football monster that could perform any feat on the pitch with many eyewitnesses guessing who it was. Some said it was Coutinho, others said it was De Bruyne. Wizkid and some others swore it has several legs while Neymar laughed at them. One person even said he saw Ronaldinho with his very eyes

See the video below:

https://www.youtube.com/watch?time_continue=154&v=2XJoon7tsRA

http://www.todaysecho.com/wizkid-in-new-nike-advert-alongside-neymar-coutinho-de-bruyne-aubameyang-ronaldinho/

Senate president, Bukola Saraki addressed an international press conference yesterday, 8th August 2018. This follows the invasion of the National Assembly complex by men of the Department of State Security (DSS) on 7th August and the sacking of the DSS Director General, Lawal Daura by the Acting President.

The National Assembly invasion has been widely condemned nationally and internationally, and the Acting President, Yemi Osinbajo has declared that he had no part in it. However, supporters of the opposition and many others believe the presidency has a hand in it and that it is part of the plot by the ruling APC to illegally remove Saraki, who has just defected to the PDP.

Today’s Echo can now gather five major things Saraki’s statements reveal:

1. There is really a cabal
The allegations that there is a cabal operating within the presidency is not new but Saraki’s statements have just confirmed it. According to Saraki “I don’t like to say I told you so. However, some of you may recall that I stated two years ago that there was a government within this government, to a purpose that was not in the interest of what the people voted for. I said it then, and now nearly on a daily basis, we are seeing the manifestation of that government within a government. It beats our imagination, how this is being allowed to occur.”

Nevertheless, his statements and the events of the past few days have only confused us further about the identity of that cabal. If it is true that the presidency did not order Daura to blockade the National Assembly, who did?

2. Saraki stylishly absolves Osinbajo from blame

With his ‘government within government’ theory on the invasion of the National Assembly, Saraki agrees with Osinbajo that he was not aware and absolves him of blame.

In affirming this, he said, “by this, we have shown that Nigerians can resist governments within government in whatever guise.”

Saraki also commended Osinbajo’s action in sacking Daura, saying that it sent a powerful message that the DSS cannot be recklessly deployed against state institutions.

Since his botched trial intensified, Saraki has been one of the boldest critics of the Buhari regime. We are not sure he would absolve the presidency like this if the president was around.

3. Boma Goodhead has just become famous

Before the siege on the National Assembly on Tuesday, many people did not know about Boma Goodhead, a House of Representative member from Rivers State. However, in a brazen show of defiance, she protested against the masked security men and those that ordered them, daring them to shoot her if they can. Her famous video has now gone viral internationally. Boma Goodhead has won a name for herself and was even given a honourable mention by Bukola Saraki during the press conference. She should be proud of herself.

4. Buhari is Saraki’s enemy, not Osinbajo

Even as he commended the Acting president’s action, Saraki still poses questions on how the masterminds have not been identified, suggesting that there are highly placed people protected by the president involved. He also used the opportunity to throw a subtle shade at President Buhari.

“When we voted for change, we could not have envisaged a scenario such as what happened yesterday—this is not the change we voted for, we did not vie for instruments of state to be used to oppress lawmakers.”

5. Saraki wants to be president:

From his body language, Saraki has made it known that he is eyeing the presidency, come 2019. All the recent intrigues surrounding him have also buttressed the theory that he wants to be president. During the press conference on Wednesday, a foreign journalist asked him about his presidential ambitions and he declined to make a clear answer, saying:

“Today, we are here to talk about democracy and it is not time to talk about my presidential ambition.”

If he was not interested in contesting, he would have replied with a clear no. The clever manner with which he dodged that question indicates he is in the race.

http://www.todaysecho.com/five-revelations-from-sarakis-world-press-conference/

I don't know if its only me that think fathers are under appreciated. I grew up with a father that was always there for me, even till I grew up but he is no more now. Even when we have fathers that have done so well, the world still venerates the mother more.

Miss my dad.

Socio-Economic Rights and Accountability Project (SERAP) has sent a Freedom of Information request to Brigadier-General Sule Kazaure, Director-General of the National Youth Service Corps (NYSC) asking him to use his good offices and leadership position to “urgently provide information on specific details and documents on the Exemption Certificate granted to the Minister of Finance, Mrs. Kemi Adeosun.”

The organization also asked General Kazaure “to provide information and documents on whether Mrs Adeosun applied for NYSC Exemption Certificate, and if she did, to clarify whether the NYSC actually granted her the Exemption Certificate, the circumstances and the provisions of the NYSC Act under which the Exemption Certificate was granted.”

The organization said it “needs the information to determine if the crime of forgery has been committed, and if so, to consider possible action in the circumstances, including but not limited to asking the Attorney General of the Federation and Minister of Justice Mr Abubakar Malami SAN to pursue prosecution or in the absence of that, for us to consider the option of a private prosecution.”

In the FOI request dated 2 August 2018 and signed by SERAP deputy director Timothy Adewale, the organization said, “By providing information and documents on the Exemption Certificate, the NYSC would help put an end to any insinuation of complicity and show that the institution can embrace transparency and accountability in the discharge of its statutory mandates. This would in turn contribute to improved integrity and public image of the NYSC.”

According to the organization, “Mrs Adeosun remains innocent until the allegations against her are properly tested and proven beyond a reasonable doubt in a court of competent jurisdiction based on relevant admissible evidence. But the continuing silence by the NYSC management on the matter may create an impression that an offence may have been committed, and lead to accusation that the management has something to hide.”

The letter read in part: “We urge you and the entire NYSC management and leadership to open-up on the matter and provide information and documents as requested. This will be one step in the right direction. If the information is not provided to us within 7 days of the receipt and/or publication of this letter, the Registered Trustees of SERAP shall take all appropriate legal actions under the Freedom of Information Act to compel you to comply with our request.”

“SERAP is concerned about the perceived lack of transparency and accountability of the NYSC management and leadership in this matter, which has seriously undermined public trust and confidence in the NYSC as a public institution established to serve the public interests.”

“SERAP notes that following allegations of NYSC Exemption Certificate forgery against Mrs Adeosun, the NYSC management issued a statement confirming that she did apply for an Exemption Certificate and promising to ‘investigate the origin of the purported Exemption Certificate in question.’”

“However, we are concerned that the statement lacks specificity as to whether Mrs Adeosun was issued the Exemption Certificate. Further, although the statement was issued on 9 July 2018, the NYSC management has so far failed and/or neglected to publish the outcome of the investigation it promised. Nigerians are also entitled to the right to truth derived from the obligations of the government and its institutions to carry out an investigation into allegations of issues like forgery that have been leveled against Mrs Adeosun.”

“By Section 1 (1) of the Freedom of Information (FOI) Act 2011, SERAP is entitled as of right to request for or gain access to information, including information on the circumstances and the provisions of the NYSC Act under which any NYSC Exemption Certificate was granted to Mrs Adeosun.”

“By Section 4 (a) of the FOI Act when a person makes a request for information from a public official, institution or agency, the public official, institution or urgency to whom the application is directed is under a binding legal obligation to provide the applicant with the information requested for, except as otherwise provided by the Act, within 7 days after the application is received.”

“By Sections 2(3)(d)(V) & (4) of the FOI Act, there is a binding legal duty to ensure that documents containing information relating to the granting of any NYSC Exemption Certificate are widely disseminated and made readily available to members of the public through various means. The information being requested does not come within the purview of the types of information exempted from disclosure by the provisions of the FOI Act. The information requested for bothers on an issue of national interest, public concern, good governance, transparency and accountability.”

The former ambassador to South Africa, who resigned and defected from the APC to PDP yesterday has commenced his campaign to become the next governor of Niger State, Today's Echo has gathered

A poster of Ahmed Ibeto for Niger State has surfaced online. Popular writer and political critic, Gimba Kakanda made some revelations on Facebook this morning as he puts up the poster with the following statement:

"The intensity of yesterday’s political hurricane was more felt by the people of Niger state: the resignation of Nigeria’s Ambassador to South Africa and defection to PDP. Ahmed Ibeto belongs in the category of politicians to describe as heavyweight, and he earned this by his making as an early and consistent starter in politics.

He was Local Government Chairman, State Chairman of the defunct NRC, member of the House of Representatives and then finally a Deputy Governor for eight years. It’s easy to be amused by his political history, especially the bits not cited here.

http://www.todaysecho.com/hours-after-decamping-ahmed-ibetos-governorship-poster-surfaces/

What’s also played to his advantage is the popular perception of him as a man of integrity - especially as Ustaz. Not that I fall for such personality scam. He’s given the public an impression of his religiosity, and known to be a quiet rebel, as seen from his strange disagreement with his boss, Governor Babangida Aliyu. He defected to APC while still a Deputy Governor .

I’m a proponent of robust opposition, for it’s the only way to keep political office-holders on their toes. And Niger State has just found a man fit to give the incumbent Governor a run for his money. Even as an admirer of current Governor Sani Bello, I’m triggered by his entry. It’s good for our democracy!"

Hours after the senate president, Bukola Saraki defected to the PDP, his sister, Gbemisola Saraki has indicated that she will remain in APC and has pledged his unwavering support for President Buhari.

In a tweet, which had been retweeted by the APC, Gbemisola saraki said:

“I maintain my unwavering support for President Muhammadu Buhari, now and for his re-election in 2019, and for the success of our party, the APC, in Kwara State and across the federation” – SEN. GBEMISOLA RUQAYYAH SARAKI (GRS). APC Kwara.”

Former president and elder statesman, Olusegun Obasanjo has visited the Bayelsa Socialist hospital in Yenagoa for his medical checkup. This is part of his visit to the immediate former president, Goodluck Jonathan






This was disclosed by Bayelsa Senator, Ben Murray Bruce(PDP) who tweeted this morning with a picture of the former president amidst medical staff taking care of him.

Murray Bruce posted with this caption:

“I am currently with former President Olusegun Obasanjo at the Bayelsa Socialist Hospital in Yenagoa where he is doing his physical. Bayelsa State has one of the best medical facilities in West Africa and we are happy the former President is able to experience this.”

He later added, “Great leader. Unending humour.”

It is common for members of Nigerian elite to travel outside the country for routine medical checks and treatments. Obasanjo may be doing this as a way of promoting confidence in our local health system

From: Today's Echo

A fit and healthy British mother died while holidaying in Greece with her family after eating just “a few mouthfuls” of uncooked chicken, an inquest has heard.

Natalie Rawnsley was holidaying on the island of Corfu with husband Stewart and her two young sons when she was struck down with food poisoning.

Ms Rawnsley, a keen triathlete, died within 36 hours of her meal at the hotel where she and her family were staying.

“The hotel had two or three restaurants. It was a buffet or restaurant and we had all four of us eating together,” Mr Rawnsley told Westminster Coroners’ Court.

He added: “The set up Natalie and I had agreed was we took it in turns alternatively either to go up and get the kids food and our food while the other joined the longer queue for nicer food.

“I had both my boys with me, we had pasta, bread and sausages. Natalie had a completely different dinner which consisted of chicken, salad, prawns and vegetables.

“We were already at the table when Natalie came back with her food. Natalie started to eat hers and as she cut the chicken the chicken oozed red blood to which point I commented it looked bloody.

“She got up took it back replaced the chicken with a different piece and came back and ate it.

“She had had a few mouthfuls of the other piece of chicken.”

A doctor came early the next morning, diagnosing Ms Rawnsley – who had been vomiting since 3am – with gastroenteritis.

When Ms Rawnsley’s symptoms continued, she was admitted to the medical centre near the hotel. She was later moved to hospital – at which point, Mr Rawnsley said, his wife had “pain in her legs and also a number of red blotches all over her.”

Ms Rawnsley died in the early hours of the following morning.

The inquest heard that although Ms Rawnsley was a healthy stay-at-home mum, the probability of contracting the more serious illness from food poisoning depends entirely on your genes.

Infections expert Professor Sebastien Lucas said: “It depends on what your genes are.

“Assuming it is an E-Coli infection – coming from uncooked chicken seems a very reasonable theory.

“The point I also made in my report is how it escalates.

“There’s a tipping point when it starts producing DIC. By definition, once it starts doing that, you are doomed.

“It’s a very rapid process and so the chronology I heard from Mr Rawnsley fits to a ‘t’ with that view.”

Professor Lucas said little can be done once infection sets in, adding that Ms Rawnsley was the third person he had seen die under these circumstances so far this year.

Dr Athanasia Vargiamidou performed the post-mortem on Ms Rawnsley.

She said: “The blood was not able to clot properly, it clotted a lot and at the same time.”

The coroner recorded a verdict of death by the accidental consumption of E-Coli infected chicken

At a cosy hall somewhere in Lagos, young men and women sit over their laptops at fancy desks and get themselves busy. Right in the hall are facilities that befit the work that goes on here; water dispensers and air conditioners in strategic corners, books lining rows of shelves by the side, and internet available for use. Everyone appears to be busy and the ambience seems altogether calm.

The hall depicted above is not the office of one company but of several. Welcome to the 21st century where the definition of the office is fast evolving. As a reaction to the realities of the modern work culture, co-working has emerged as one of the developing business practices of today. Wikipedia defines co-working as a style of work that involves a shared working environment, often an office, and independent activity. It involves people working together in spaces on different projects, often far away from their clients or employers. The co-workers often pay subscription to make use of the space. It is a form of remote work that is an alternative to working from home.

The Emergence of Co-working

The co-working movement started in San-Francisco in 2005 and rapidly spread across the United States, and from there, to Europe. As the world evolves and adopts technology like the PC, the internet, and mobile phones, so also the manner of doing business changes. Competition has increased in the traditional industries, forcing out many entities that had hitherto felt secure while bringing in new players. Moreover, the modern world creates opportunities like never before. In the 21st century, what matters is not the job, but the client.

The co-working Culture in Nigeria

Co-working spaces have spread to Nigeria and are increasing in number. Technology magazine, Techpoint listed at least 33 of them in Lagos alone. Tope Apoola, a Microbiology graduate started LitCaf, a small, snug, literary-oriented working space in Yaba, Lagos six years ago when the idea was still strange to many in Lagos. Today, his literary hub attracts several clients ranging from students to entrepreneurs. At the Litcaf, you can work with your PC, connect to the internet, watch cable TV, drink coffee, read books, and attend literary events.


A stone’s throw from the Litcaf is the bigger, well-funded Co-Creation Hub; probably the largest co-working space in Nigeria presently. The CC Hub, which is managed by a group of innovative youths embracing entrepreneurship, attracts substantial investment, including considerable support from Facebook. In 2017, Facebook CEO, Mark Zuckerberg was in the hub as part of his visit to Nigeria. The CC Hub is a cocoon for hatching start-ups leveraging on the internet to reach their market, including BudgIt, Autobox, Mamalette, and Kiakia Gas.

People who share co-working spaces are not working for the same organizations or clients but often share similar attributes or similar interests. For many, it is not only about the physical place, but about establishing a community. For those who love literature and art, Litcaf, Terracuture in Victoria Island, and Stranger in Lekki are ideal work hangouts. These co-working spaces organize literary/ art events, attract literature lovers, and make literary books available to users. Some Co-working spaces are more interested in developing entrepreneurship and business. They include Venia Business Hub in Lekki, Capital Square in Ikoyi, Leadspace in Ikeja, and A1 Spaces in Lagos Island. Venia Business Hub organizes regular business conferences and liaises with corporate organizations to facilitate training for aspiring entrepreneurs. Cr8 Space in Victoria Island is well known as a meeting place for stakeholders in the Fintech sector while Deskyard in Lekki, Fastlaunch in Maryland, and Co-work in Lekki help connect aspiring entrepreneurs and freelancers.


Why do People Use Co-Working Spaces?

Lanre, a Graduate of Mining Engineering, creates whiteboard animation videos for clients on Freelance websites like Upwork and Fiverr, and gets paid in dollars. Three years ago, he graduated from the University with a honours result but with no idea what to do with it. Jobless, and penniless, he got introduced to the freelancing platforms and quickly learnt how to create whiteboard videos useful for people in other countries. A few years ago, the smartest guys were the ones that got the good jobs and earn good salary. Today, the smartest guys are the ones making money without getting a job.


For Lanre and many others like him, going to the Co-working space gives them access to facilities that enhance their working capacity. In Nigeria, electricity supply and internet connectivity are not readily available. Aspiring entrepreneurs and freelancers can find what they lack at home in these centres rather than having to install their own facilities at a higher cost. They also go to the nearest co-working space to interact with other people with similar goals. They are able to feel like they are working from an office without having to go rent an office space. Some hubs in Lagos even offer business address as part of their services.

All around the world, the growth of co-working has been linked to the rise of telecommuting. The realities of climate change, population explosion and decentralization of businesses made it necessary for people to work from outside their office space. Some companies therefore, have allowed workers to work from remote locations, connecting to their teams via the internet. This saves cost on welfare for the company and reduces stress for the workers.

Looking into the Future

According to an article on huffingtonpost.com, “The word co-working won’t be a word in the future, it will probably just be the way we work.”
As the nature of business changes, the nature of work also changes, and people don’t stay long in a company any more. It is said that most people today stay on a job at most, for 4.4 years. The idea behind co-working is autonomy and more people continue to seek autonomy and the ability to define their personal objectives. In Nigeria, the constraints of getting to work and the push for work-life balance will make co-working more attractive in the future. In Lagos, the population concentration has led to heavy traffic on the road, making the journey from work house to work very difficult. We might just all be telecommuting instead of going to the main office in the nearest future.

From: http://www.todaysecho.com/offices-of-the-future-the-emergence-of-co-working-spaces/

Pictures

1. Litcaf, Yaba
2. Capital Square, Ikoyi
3. Venia Business hub, Lekki
4. CC hub, Yaba

A Nigerian writer and literary critic, Ikhide Ikheloa has argued that the name of the capital city of Rivers state be changed because the city is named after a pedophile.

The famous city of Port-Harcourt, named after Lord Lewis Harcourt, Secretary of State for the Colonies from 1910 to 1915. Lord Harcourt's nickname was "Loulou".

History has it that when the new Port was established in 1912, Lord Federick Lugard did not know what to name it. He wrote to Lord Harcourt, who was overseeing all the British colonies, seeking his permission to name the new port after him.

According to his Biography on Wikipedia, Lord Harcourt was a well-known pedophile; a sexual predator attracted to both sexes. It is said that when faced with public exposure, Harcourt committed suicide by taking an overdose of a sedative.

See Wikipedia excerpt below:

http://www.todaysecho.com/port-harcourt-was-named-after-a-pedophile-nigerian-writer-argues-for-name-change/

Popular Nigerian actress, Genevieve Nnaji is out of country on holiday. She released this gorgeous picture of her chilling on a boat, surrounded by a classic ambiance on Twitter a few minutes ago

I honesty support the legalization and regulation of marijuana consumption. many youths are already taking and abusing it. They need to be guided

The federal government on Wednesday arraigned Senator Dino Melaye before a High Court of the Federal Capital Territory (FCT) on a six-count charge bordering on attempted suicide, attempt to escape from custody and damage of police property.



The counsel to the federal government, Dr Alex Izinyon (SAN), had told the court that the defendant committed the alleged offences on April 24.

The offences, according to the federal government, contravenes provisions of Sections 148, 153, 173, 231, 326 and 327 of the Penal Code.

Izinyon alleged that Melaye, while being conveyed in a police vehicle to Lokoja, forced his way out and escaped.

The prosecution claimed that the defendant, after jumping out of the vehicle, sat on the ground, holding a substance in one hand threatening to drink it to kill himself, so that he can put the police officers in trouble.

The senior advocate in addition told the court that Melaye broke the glass of the vehicle with his elbow and caused damage to police property.

Melaye, who represents Kogi West Senatorial District, however pleaded not guilty to the charges when read against him.

Following his not-guilty plea, his counsel moved his bail application, submitting that the offences the defendant are charged with are bailable.

He also informed the court that Melaye is currently on bail granted him by an Abuja Magistrate’s Court over the same matter.

He therefore urged the court to release his client on similar conditions given by the Magistrate’s Court.

The prosecution counsel however urged the court to decline the application, though he admitted that bail is at the discretion of the court.

In a short ruling, Justice Oriji admitted Melaye to bail in the sum of N5 million and two sureties in like sum.

The sureties, who must be directors in the civil service, are to be residents of the FCT, and depose to affidavits of means.

Justice Oriji however hinted that the case file would be forwarded to the Chief Judge of the FCT High Court to be assigned to another judge for trial after the vacation period.

Even though a lot of Nigerian preachers are trying to develop a thick skin to Daddy Freeze’s frequent whistle-blowing against the church, it has become very clear, that they are losing the battle as well as a lot of devoted followers. The average Pentecostal preacher, especially in Nigeria, is a shadow of everything Christ exemplifies, from humility to selflessness. If the Pentecostal church does not move to redeem what is left of its image, in the next couple of years, a lot more believers will lose faith in Christianity and preachers would have successfully cleared more people’s path to hell than they will to heaven. The good ones left must begin to do things differently, especially when it comes to giving, tithing, offering, pledging or sowing seeds as some will like to call it.

In the past few weeks, popular On-Air Personality Daddy Freeze, convener of the #FreeTheSheeple movement has launched an offensive against a particular female preacher in Nigeria, Revd. Mrs. Funke Felix Adejumo, popularly known as Mama at her base in Akure, where she co-heads the Agape Christian Ministries with her husband, Bishop Felix Remi Adejumo.

Up until now, the woman of God has thrived on a good reputation she built for herself and her ministry, despite her very humble beginning in Akure, Ondo State capital. However, all those years of hardwork are now threatened by some money extortion controversies.

Although she wouldn’t be the first to be called out on the same allegation, circumstances surrounding her case are quite messy. The dimension this case has taken has left more people convinced that Funke Adejumo’s seed collecting antics, which is usually denominated in dollars, is not based on spiritual instructions, but in a ploy to take advantage of miracle-savvy individuals who are desperately in need of some form of breakthroughs.

Funke Adejumo became famous for her Mothers’ Summit across Nigeria and other parts of the world, and her ministry has undoubtedly touched a lot of lives. She is also a regular at big Christian programmes across the country, especially in Lagos, where she single-handedly convenes a Winning Edge programme at TBS yearly.

At first, one would have easily waved Daddy Freeze’ allegations aside as malicious and in an attempt to score cheap points against Pentecostal preachers by picking holes in their messages as usual. This extortion is something Freeze has spoken against at different occasions, name-calling the most feared preachers in Nigeria on issues relating to tithe and offerings, which he condemns as old testament practices. Nevertheless, even though Freeze is not an ordained pastor, he had lent his voice strongly to ‘liberating’ Christians blinded by Pentecostal doctrines and has assumed a position of authority on church-related affairs. On Funke Adejumo’s case, he started a series, and as at last count, he has posted eleven episodes of her collecting money at 11 different locations using similar lines like ‘I didn’t plan for this, but the Holy Spirit laid it in my heart….”

In the wake of the nasty episodes posted by Daddy Freeze, of Adejumo’s preaching, one could draw some reputation management lessons for the Pentecostal preacher in Nigeria, before Freeze opens all their can of worms.

Transparency is non-negotiable
Preachers should be very clear if they need to raise funds for building projects or for prison visitation. The era of ‘Holy spirit is leading me …or the Holy Spirit told me so’ is gone. Be sincere and stop using spiritual blessings as bait. Giving to God is not merchandise; giving to humanity is God’s will. There is no need to paint blue black in a way that compels people to give. There is no word for that, but fraud.

Engage in and Publicise your social investment activities
Today’s churches have become so blinded with expansion that they care less about the welfare of members or individuals in the communities where they exist. So, people begin to wonder, where all the money goes after it has been collected. Churches with preachers who attend free schools funded by missionaries now build schools that church members who live averagely cannot afford.

Churches must engage in and publicise the social investment activities as much as they publicise their conferences, conventions and other programmes. Christians have a responsibility towards society and this is fundamental to the life and mission of the Church. Jesus Christ fed people and if the tithe in the storehouse principles still applies, it is a provision for the needy and poor.

Church accounts should be audited and available
Churches now need to become accountable. If you get money for good causes, you need to show the world how it was spent. Collections in churches are people’s sweat and churches should willingly be proud to account for it. Paul addresses this in 2 Corinthians 8:20-21 (NIV) when Titus is sent to receive the collection. Paul says: “We want to avoid any criticism of the way we administer this liberal gift. For we are taking pains to do what is right, not only in the eyes of the Lord but also in the eyes of man.” The message version is clearer, it says, “We don’t want anyone suspecting us of taking one penny of this money for ourselves. We’re being as careful in our reputation with the public as in our reputation with God.”

Auditing gifts and offerings is a good way to communicate project outcomes to donors. Churches can also publish their annual reports on their websites or make it available to relevant stakeholders.

You can raise funds without lying against the holy spirit
People gave their all in the bible willingly without bringing the Holy Spirit into it. Giving should be natural to someone who has been transformed in Christ. While the Holy Spirit speaks, why are all these preachers trying to grieve the same spirit? Not everything that you think about is a word from the Holy Spirit, sometimes our flesh, our greed, our emotions also speak to us.

Paul says in 2 Corinthians 8:3 “For I testify that they gave as much as they were able, and even beyond their ability. Entirely on their own”

Christianity is not all about money
In today’s Pentecostal churches, inequality continues to thrive. Even the most devoted worker will never rise to the top without money to contribute to funding church projects. We live in a money crazy age and it should bother preachers more where people even get money from. Deuteronomy 23:18 says “You shall not bring the hire of a harlot or the wages of a dog into the house of the LORD your God for any votive offering, for both of these are an abomination to the LORD your God.”

A lot of churches today are built with proceeds of fraud and corruption because preachers no longer care how people get the money. “No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.” Matt 6: 24

Being conservative is a godly virtue
Jesus commands the rich young ruler to sell all he has and give to the poor before becoming a disciple. However, Pentecostal preachers of today want to fly private jets using the church’s money. One may argue that a good preacher deserves a reward, but there is a problem is when the preachers begin to demand it.

Jesus came to this world, gave his all and left with nothing! Why are preachers trying to live in the fab lane? What exactly is the joy in being clothed in a Gucci regalia as a preacher of Christ? Why are today’s pastors so vain? Why do they bear the semblance of fraudsters and drug dealers, driving the most exotic cars and preaching about their good lives?

7. The fear of Daddy Freeze should be the beginning of caution. #Who’sNext?

I Timothy 6: 9-10 says “But if it’s only money these leaders are after, they’ll self-destruct in no time. Lust for money brings trouble and nothing but trouble. Going down that path, some lose their footing in the faith completely and live to regret it bitterly ever after.”

So, maybe we should stop blaming Daddy Freeze for calling out these preachers, sooner or later those who toe the path of money will self-destruct. We do hope though, that Daddy Freeze’s crusade helps bring people more to God and not completely ruin them. Remember, for God will judge you in the same way you judge others, and he will apply to you the same rules you apply to others, says Matt 7: 2.

The Shell Petroleum Development Company (SPDC) has set aside the industry competitive bidding process it pioneered and has entered private negotiations with Heirs Holding, a company founded by business Tycoon and former CEO of the United Bank for Africa, Tony Elumelu, for Oil Mining Licenses 11 and 17 in the onshore Niger Delta for a reported $2 billion. Included in the sale are national infrastructure assets such as a natural gas-fired power plant that would be managed by Transnational Corporation of Nigeria Plc, another company run by Elumelu.

The SPDC is known to have sold a couple of prized assets in the Niger Delta in the last decade as it moves to divest its operations and move offshore. Besides Shell, other IOCs like Conoco Philips, Agip, Total, and BG have sold assets that have been purchased by local companies leading to the rise of indigenous Exploration and Production giants like Aiteo, Eroton, Newcross, Oando, Seplat, etc. “The bidding process alone has allowed these companies to develop significant technical competences and operational maturity”, a source with the Ministry of Petroleum Resources of Nigeria says.

It is however, puzzling to curious observers that Shell has not subjected this particular transaction to the open competitive bidding like their previous asset disposal. This is worrisome to industry players and experts because part of a competitive bid is major technical assessments. Emphasizing on the importance of technical adeptness of a company buying such important national asset, a senior staff of NNPC who prefers anonymity explained: “a competitive bidding round has always been our approved mode of divestment as it is not just about the commerciality. The public is often carried away by only the figures, but the technical bid is even far more important as the ability to sustain the asset is predicated on the technical competence of the bidder. As it stands, only Shell is about to win here as it will pocket the $2 billion and walk away clean from an asset that has only months to expire, leaving Nigeria to grapple with whether the asset is subsequently viable or not.”

What is Different?

There are several other examples of asset acquisition by indigenous companies from IOCs. What is different about this one? Analysts are also worried that this will start a new trend of opacity in the industry where strategic national oil assets will be disposed to companies owned by cronies, thereby compromising the asset from the outset.

Although Tony Elumelu is a seasoned business man and reputable entrepreneur, he is also the chairman of Transnational Corporation of Nigeria Plc (Transcorp), a diversified conglomerate that purchased some Federal Government assets under controversial circumstances during the regime of President Olusegun Obasanjo.

Bloomberg reports indicate that “discussions between Shell and Elumelu have been advanced at times and run into hurdles at others as he is yet to secure financing, the people said. No deal has been reached and the talks could still fall apart.”

Attempts to reach the Media Relations Manager of Shell Nigeria, Bamidele Odugbesan via his mobile phone to find out what is so different about the current deal that it hasn’t been subjected to open bidding like the others, was without success. Our correspondent has also sent an email to Shell Nigeria, asking the same questions without a response

However, sources close to Shell and industry analysts have argued that the transaction is far from closing. Shell has the right to adopt any disposal method and that the deal is subject to Ministerial approval from the Nigeria government and so should not be sensationalized at this stage.

Juicy Assets Not New to Controversy

OML 17 is a large onshore license within the NNPC/Shell JV, there are 15 oil and gas fields on OML 17, six of which are producing. Crude is exported through the Trans-Niger Pipeline to the Shell-operated Bonny oil and gas terminal. Whilst the OML 11 lies in the south eastern Niger Delta and contains 33 oil and gas fields of which eight are producing as at 2017. In terms of production it is one of the most important blocks in Nigeria.

OML 11 is not without controversy. In April 2018, the Nigerian government split the block into three parts when Shell presented its renewal application, giving Shell one portion. Shortly after, the office of the Honourable Minister of State for Petroleum Resources, Dr Ibe Kachikwu, vehemently denied allegations of links to Chevron Nigeria Limited for the resized oil block.

A group, the Ken Saro Wiwa Associates, had alleged a plot by a minister “to unilaterally transfer CNL’s interest in the Yorla Oil Field (OML 11–Ogoni Fields) to an anonymous company in which he has interest.” In a petition to President Muhammadu Buhari, the KSWA said it was an “organization with global membership committed to promoting the ideals and the consolidation of the legacies of the Ogoni hero and human rights activist, Ken Saro Wiwa and his fellow martyrs in the struggle.”

Chevron’s General Manager, Policy, Government and Public Affairs, Esimaje Brikinn, denied the allegations stating that Chevron has no equity in the block.

Is this Another Malabu?

Nigeria has been embroiled in a long-running graft case involving the 2011 purchase by Eni and Shell of Nigeria’s Oil Prospecting Licence 245, an offshore oilfield, for about $1.3bn. In 1998, OPL 245 was awarded by a former Petroleum Minister, Dan Etete, to Malabu Oil and Gas, which later sold it to Eni and Shell. The deal saw the Nigerian government act as an intermediary between the oil majors and Malabu Oil and Gas, a company allegedly controlled by Etete under conditions considered as very opaque. Italian prosecutors had earlier indicted Shell and Agip for their role.

Nine executives or contractors on the deal at the time, including Eni’s CEO, Claudio Descalzi, have been accused by Italian prosecutors of paying bribes for the estimated nine billion barrels of oil in OPL 245.

The trial of top executives from the two IOCs kicked off on May 14, 2018, with Shell and Eni strongly denying any wrongdoing. Those on trial could face lengthy jail sentences if found guilty.

What is the Rush?

Shell discovered oil in the Niger Delta in the 1950s and has maintained its “biggest producer” and strategic relevance to Nigeria ever since. In 2010, SPDC scored another first, pioneering the divestments of onshore assets in Nigeria when it announced the transfer of its 30% interest in OMLs 4, 38 and 41 to Seplat Petroleum Development Company Plc. Shell continues to maintain its bearish outlook on Nigeria ever since as it has taken over $10 Billion by a coalition of partners (including ENI and TOTAL) from asset sale in Nigeria.

Today, up to $12 billion of the portfolios of IOCs are available for divestments as many Nigerian licenses near expiration. Many of Shell’s JV licenses which expire in 2019 are expected to lead the pack. Shell would likely divest more blocks in line with its strategy to re-position its oil portfolio deep-water as it continues to battle accusations of environmental pollution.

A former Minister of State for Petroleum, Mr. Odein Ajumogobia recently speaking at an event attended by our correspondent stated that all the onshore oil blocks belonging to Shell and nine other blocks (Oil Mining Leases 18, 24, 25, 26, 29, 30, 34, 40, and 42) sold to indigenous operators by the oil giant and its partners would expire by 2019.


In related events, Creststar Consortium paid initial deposit of $100 million of the $500 million bid price for OML 25 before the NNPC came forward to exercise its right of first refusal, an action being challenged in the court by the Canadian firm-backed consortium. Nigeria’s Ministry of Petroleum also recently approved the recommendation of the Department of Petroleum Resources (DPR), to revoke three Oil Mining Leases (OMLs 31, 33 and 36.) operated by Shell.

Why Shell is departing from its culture of transparently and competitively divesting its assets in bidding processes, in the sale of these two oil mining licenses, is a development that may not augur well for Nigeria as the financial beneficiary of these assets.

For months, Heirs has struggled to come up with the financing for the assets. This usually would not have been a problem if Shell had adopted its usual competitive bid as there are usually one or two reserved bidders to immediately step in when a winner is unable to meet its obligations.

Shell’s move to sell OML 11 and 17 may form a tragic legacy which undermines government’s stance on strengthening and securing the petroleum sector. Although, it is too early to determine what decision Shell will eventually take, industry analysts are clamouring for Shell to open up the bid and stop the opaqueness to avoid another Malabu.

he unveiling of the National carrier, Nigeria Air, has received quantum applause just as it has garnered criticisms and tongue lashing.

The Minister of Aviation, Hadi Sirika last week unveiled the name and logo of the airline. He also revealed that the Government will not own more than 5 percent of the new national carrier. Media reports have now revealed that the Nigerian government is investing $300 million for its 5 percent stake while it appears they are still searching for investors to put in approximately $5.7 billion for the remaining 95 percent.

“We obtained the Certificate of Compliance from the Nigerian Infrastructure Concession Regulatory Commission (ICRC) two weeks ago and can now go into the investor search, ” the Aviation Minister said during the unveiling, revealing that government is still searching for investors

According to a report by the African Probe, Nigerians seem to have taken up debate sessions on Twitter and other social media handles to question the reason behind investing so much for a little stake in a start-up airline.

Inaugural CEO of the Asset Management Corporation of Nigeria, Mustafa Chike-Obi on Saturday, 21st July, in a tweet, questioned the rationale behind investing 300 million dollars for just 5 percent of a start-up airline while Air France/KLM paid 286 million dollars for 31 percent of Virgin Atlantic.

His point was corroborated by a Twitter user, Val Mary, who noted that the Aviation minister is not a smart man, as he thought that Nigerians will be carried away with the euphoria of unveiling the Logo of Nigeria Air. She also lauded former Education minister, Oby Ezekwesili’s controversial comment which hinted towards praying for the failure of the airline, saying that Ezekwesili saw the whole fraud and condemned it but people didn’t understand her position and the illiterate ones tagged her evil.

Recall that on 19th of July, former Minister of Education, Dr Oby Ezekwesili had tweeted thus; “I actually believed that at some point the FG would have advised itself and known that the so called National Carrier project is a waste. Sadly, not so as they are determined on what is clearly a wrong priority. It shall fail. For the sake of the country, it must fail. Let me reiterate it now, I fundamentally consider a National Carrier project a waste. Before we once again sink scarce public resources into a wrong-headed prestige project like an airline, I am glad to stand alone on this.”

Again, on 20th July, she reaffirmed the statement that has sent Twitter on fire, by saying that If she were President of Nigeria, and the Aviation Minister sent her a Memo asking approval to set up a ‘National Airline’ with initial capital of federal government’s $300million and acquire airplanes, she will instantly send him a reply. It will be: Goodbye. Please hand over the Ministry to the Permanent Secretary.

Ezekwesili’s position is said to have come on the premise that previous attempts to fly successful airlines ended in fiasco. Her opinion was in tandem with Onome Ohwovoriole’s article published in August 31, 2017 on Nairametrics.

The article explored asset sales by government which never saw the light of day. In September 2004, the Nigerian Government and Virgin Atlantic signed an agreement to launch a National carrier, which was christened Virgin Nigeria. As part of the terms of agreement, Virgin was granted the right to use the Murtala Mohammed International Airport (MMIA) as its base. In 2008, Virgin Atlantic decided to sell its stake in the airline following disagreements with a new administration. Nigerian businessman, Jimoh Ibrahim bought Virgin’s stake in the airline in 2010, but shut down the airline in 2012 following a dispute with workers.

However, another Twitter user, Ìmọ̀ràn se kókó pointed out that as much as the questions are good, the comparison is misplaced in that they are two different transactions with one’s initial capital outlay larger than the other. “You’re also conflating investment with stake the investor gets. They’re not necessarily correlated,” she said.

Going further to back up her assertion, she extracted a 2017 article by Natasha Bach from Fortune.com which stated that “Air France-KLM is paying Branson’s Virgin Group 220 million pounds ($286 million) for a 31% stake in the venture. Delta will retain 49% control, leaving Virgin with 20%. Branson will remain chairman of the airline and the airline is expected to continue to fly under the Virgin brand. At the same time, Delta and China Eastern will pump some 375 million Euros ($439 million) each into Air France-KLM, both in return for a 10% stake. That will cut the French government’s stake in the group to 14% from 18%.”

Ìmọ̀ràn reiterated that the amount invested isn’t necessarily correlated to stake and the federal government’s $300m investment for 5% isn’t determinative of value.

Nevertheless, the question remains if investing 300 million dollars for 5% of a start-up airline is a matter of national pride, a sensible economic decision, or something else entirely?

http://www.todaysecho.com/nigeria-air-questions-as-govt-pays-300m-for-5-of-startup-without-known-investors/

The Vice President of Nigeria, Prof Yemi Osinbajo was recently in Los Angeles, USA with a delegation drawn from both public and private sectors. He visited Hollywood and the Silicon Valley to showcase and promote Nigerian creative and technology industries.
At the Silicon Valley, Osinbajo addressed key players in the technology arena, including Google and Linkedin to canvass for support and investment for Nigeria’s budding technology companies.

The technology industry in Nigeria has come of age, and the vice president has recently spoke about some of the amazing Tech products emanating from the country, especially in the area of financial services. The Financial technology sector in Nigeria is growing and it is evident in the rate at which Fintech solutions spring up and consumers adopt digital payment systems for shopping, utility payments, and even tax. Between 2014 and 2016, FinTech investment in Africa increased from $198 million in 2014 to $800 million.

A number of factors have influenced the fintech boom, the first being the cashless policy of the government, encouraging the use of digital payment processes rather than the use of cash for transactions. Also, Nigeria and indeed the rest of Sub-saharan Africa is increasing its capacity to make use of ICT. About 70% of Nigerian traders own a mobile phone and smartphone penetration has hit 28%. With many Nigerians connecting with friends and family overseas, there is a huge amount of money flowing from other countries into Nigeria. In 2015, annual diaspora remittances to Nigeria was estimated at $21 billion. There has also been a large flow of investments into the sector, with over $100 million raised from Venture Capital investors by Nigerian Fintech startups.

As the Vice President addresses key players in the technology arena to canvass for support and investment into Nigeria’s budding technology companies, we analyse some of the most innovative Fintech products the country has to offer.

1. Remita
Remita is the flagship brand and product of one of the oldest technology companies in Nigeria; SystemSpecs. It attained prominence when it was adopted by the Federal Government in 2015, as the technology infrastructure for its Treasury Single Account(TSA) policy whereby all government revenues are collected and remitted to a single integrated account. Remita has achieved some tremendous results as the TSA’s technology backbone. Since 2015, it has processed over N8.9 trillion for the Federal Government and saves the government over $11 million monthly from bank charges that it would have paid without the TSA. Its distinct feature, which enables access to multiple accounts via a single platform was incorporated in a mobile app recently released by one of the largest banks in the world; HSBC and touted as a laudable achievement.
Remita is a payment system, as well as a gateway and a financial infrastructure. As a payment application, it is available as a web and mobile-based solution for individual consumers to make and receive payments via multiple bank accounts. As a payment gateway, Remita facilitates end to end connection for various payment systems. As a payment infrastructure, Remita carries out integrated financial functions in one seamless system.

2. Paga
Paga is a mobile payment solution to send money, pay bills and receive payments. The company was founded in 2009 by Tayo Oviosu but was publicly launched in 2011. Paga enables users to send as little as N500 to N1 million to anyone, anywhere in the country using their phone number. Recipients can collect their money at any Paga agent or at an ATM without a card. Paga prides itself as the ultimate cardless payment system. With Paga, users can buy airtime and data, pay electricity and other bills, and make deposit into their bank accounts. It has agents across the country who help people to facilitate remote financial transactions. Users can also shop at any Paga-compliant store using their phone numbers. As at July 2018, Paga has 8,793,181 subscribers and over 16,331 agents spread across the country.

3. Flutterwave
Flutterwave is a Nigerian digital payment technology firm with the aim of changing payments in Africa. Its main product is an Application Programme Interface(API), which connects different payment systems together to facilitate seamless transactions. Flutterwave says is building the software infrastructure that allows two different applications to talk to each other. This enables businesses and individuals to make and accept payments from cards, mobile money wallets, and bank accounts, from anywhere in Africa and around the world, all from one integrated platform. With Flutterwave, Nigerians can pay online for anything in any country in their own currency. Flutterwave has received a lot of international attention, including a special feature on CNN in which its co-founder, Iyinoluwa Aboyeji was interviewed. In August 017, Flutterwave raised over $10 million in funding from American Venture Capitalists.

4. Piggybank
Piggybank is an online saving platform that combines discipline and flexibility for its users to grow their savings. The online platform gives users direct access and visibility to their account, making the process clearer and more transparent. Savers can deposit as little as $1 a day into a their online Piggybank.ng account, and cannot touch their savings, until an agreed withdrawal date. The penalty of premature withdrawal is a withdrawal charge of 5% on the savers account. There is also an annual interest of 6% accruing on the money saved in the Piggybank. In 2018, Piggybank was able to raise up to $1.1 million from almost exclusively Nigerian investors.

5. PayStack
Paystack is an innovative online payment solution that enables Nigerian businesses to accept payments from anyone, anywhere in the world. It acts as a gateway to facilitate seamless transactions between two different people using different payment interfaces. With Paystack, Nigerian businesses can receive payments from verve, visa and mastercard branded debit cards. Their customers can also pay them directly with bank accounts. Recently, the company partnered with mobile phone identity firm, Truecaller to increase the capacity and security of its services. Paystack subscribers can now verify the mobile identity of their customers. In December 2016, Paystack secured a $1.6 million seed investment from both local and foreign investors.