Africa’s biggest grocery retailer, Shoprite, has joined the ensemble of multinational companies exiting Africa’s most populated country, Nigeria. After 15 years, ShopRite began a formal process for the potential sale of all or a majority stake in its supermarkets in Nigeria. Its trading statement, for its 52 weeks financial period which ended in June, revealed this on Monday.

According to the company, potential investors had approached the Cape-town-based retailer, willing to take over its Nigerian operations. Therefore, the company is considering the offer because despite the rise in total sales, it is struggling outside South Africa. According to the report, the non-South Africa supermarket operation of the company, excluding Nigeria, contributed a small 11.6 per cent to the group sales. while, its non-South Africa sales also declined by 1.4 per cent in the year under review. The reason behind the decline being... https://olatorera.com/shoprite-set-to-exit-nigeria-after-15-years-of-operations/

Senator Elisha Abbo’s case has been dismissed only one year after Abbo was charged to court for assaulting a woman, Osimibibra Warmate, inside a intimacy gadget shop in Abuja. Interestingly, the prosecution had provided as evidence the video of the incident, captured by the shop’s CCTV, the video of Abbo’s public apology, and a medical report signed by one Dr Ambrose Ibegbule who treated the victim after the incident. However, the case was thrown out by the court stating that the prosecution failed to prove its case beyond reasonable doubt!

According to the presiding magistrate, Abdullahi Ilelah, the prosecution’s case centred on the oral evidence of the victim (Ms Warmate) and the two discs contained CCTV footage of the incident and alleged video clip of an apology from the defendant (Mr Abbo). He added that the medical report of Mega Sight Eye Clinic did not disclose in detail what happened to the victim and Dr. Ambrose Ibegbule who wrote the report was not called as a witness. The court also said... https://olatorera.com/why-the-criminal-case-against-senator-abbo-needs-to-be-reopened/

Richard Gbadebo was a 21 years old, 300 level student of University of Ibadan, having been involved in a fatal industrial accident at a soap making factory in Ibadan, Oyo State. Richard, like any other hard working Nigerian youth, had decided to engage himself in a holiday job having been at home for close to four months, occasioned by Covid 19 halt to academic activities nationwide, by taking up a casual work at Henkel Industries Ltd, makers of WAW detergent, located at a Industry in Oluyole Estate, Ibadan, Oyo State.

Mrs Abosede Gbadebo, Richard’s mum had initially breathed a sigh of relief when his son opted to work as a casual labor, to bolster the family’s finances, especially offsetting his UI school fees which had not been paid as at the time of volunteering to seek employment, but little had Richard known what gruesome fate that await him. Incidentally, the mum is also one of the staffers of this said Company where Richard sought employment. Until his death, he was a 300 level undergraduate of European Language, of the Faculty of Art, University of Ibadan. He was the only son of his parents. Over the years, operators and owners of industries within Oluyole Industrial Estate axis had gained infamy and considerable notoriety as sets of terrible employers, and its industries tagged as unsafe places to work, even as some Ibadan residents had labeled Oluyole industries simply as spectacles of companies who operate reckless, tyrannical and repressive labor laws by its inhumane foreign owners, among which are Labanese, Indians, Chinese and others.

While granting an interview with BBC Yoruba, Richard’s parent’s... https://olatorera.com/seeking-justice-for-richard/

By the year 2050, according to the metrics of continental geopolitical ethnography, Western Europe will become a Muslim enclave and Africa will become a Chinese continent. While European leaders are taking steps to reverse this trend, African leaders, instead of setting up a “sinking fund” are just happy to revel in their own batty, oblivious of China’s plans.

Fact 1: Compared to Africa, communist China is a little country, indeed Africa is about five times China’s size. However, China’s population is roughly two billion, same as the population of Africa. Fact 2: In terms of mineral resources, Africa is the world’s richest continent, and it is a hundred times richer than China. Fact 3: China wants Africa’s land and resources by hook or crook means to ensure the survival of the Chinese race.

The Chinese communist party’s policy for Africa is... https://olatorera.com/chinas-evil-plan-for-africa/

On behalf of the African Diplomatic Corps, His Excellency, Dean Serge Mombouli, warmly thanked the panel led by Mary Robinson for their excellent work in exonerating President Akinwumi Adesina from corruption allegations in African Development Bank (AfDB). He further commended Adesina for his visionary leadership and the “outstanding development results” attained by the Bank under his tenure.

Mombouli noted that the election of the President of the African Development Bank is planned to take place on August 27. 2020 and calls for the re-election of Dr. Adesina be done in unison by acclamation. “Dr. Adesina is the sole candidate and has received the full endorsement of the African Union.”... https://olatorera.com/dean-of-the-african-diplomatic-corps-calls-for-re-election-of-afdbs-akinwumi-adesina/

A Federal High Court in Lagos has rejected an application to stop the federal government from auctioning 10 marginal oilfields whose licenses have been revoked. As a result, increasing the number of Nigeria’s marginal oilfields up for auctioning to 67.

Justice Chukwujekwu Aneke dismissed the injunction, filed by the operators of affected marginal oil fields, to restrain the federal government from auctioning them as part of its licensing round.

The affected operators are:... https://olatorera.com/nigeria-may-auction-up-to-67-marginal-oilfields/

Born 2 December 1983, Yvonne Anuli Orji is a Nigerian-American actress and comedian. She is best known for her role as Molly in the HBO series Insecure, for which she earned a nomination for Primetime Emmy Award for Outstanding Supporting Actress in a Comedy Series in 2020.

She was born in Port Harcourt, Rivers State, Nigeria, and grew up in Laurel, Maryland in the United States. Her high school, Linden Hall (school) in Lititz, Pennsylvania is the oldest all-girls boarding school in the country. She received a master’s degree in public health at George Washington University. Despite her parents’ expectations for a professional career, she was inspired to do comedy as a graduate student when she performed stand-up in the talent portion of a beauty pageant... https://olatorera.com/who-is-emmy-nominated-actor-yvonne-orji/

Stella Gwandiku-Ambe Immanuel is a 55 year old Cameroonian-American doctor. She is best known for the viral video in which he claimed that the Covid-19 Pandemic is a spiritual battle. She also claimed that the hydroxychloroquine drug was used by her and her colleagues to cure coronavirus.

The Cameroonian doctor attended Cameroon Protestant College, a boarding secondary school in Bali, Northwest Cameroon. Later she crossed over to neighboring Nigeria to study medicine at the University of Calabar (class of 1990). According to her, she moved to US for 1992 and has lived there for 30 years. Her medical career began in November 1998... https://olatorera.com/who-is-dr-stella-immanuel/

African banking giant, Ecobank, has become the first corporate member of the Global Business School Network (GBSN) with the Ecobank Academy.

The Global Business School Network has been building management education capacity in and for the developing world for over 17 years. The network spans 6 continents with more than 100 leading business schools from 50 countries. These schools have leaders, faculty, and students engaging in programs to improve access to management and entrepreneurship education which is of high quality and locally relevant.

From inception in 1985, the Ecobank Group has been committed to economic and social development across sub-Saharan Africa. On the other hand, the Ecobank Academy is one of the largest corporate universities in Africa running operations in all regions in sub-Saharan Africa. The Ecobank Academy trains more than 14,000 people annually in 39 countries––35 in Africa and 4 outside of Africa... https://olatorera.com/ecobank-academy-becomes-member-of-global-business-school-network/

Millions of Nigerians are unable to fight or scream anymore, they are only able to cry, accept abuses and await death. They are the 90% majority of the nation. This group of impoverished Nigerians are often referred to by the 10% minority government as “unpriviledged” and “aggrieved” but wrong – they’re extremely abused people who have no hope, no money and no where to seek help thus unable to fight any further.

Several decades ago, Nigeria’s leadership changed hands from colonialism to low-class leadership. Men with minimal vision, ethics and intelligence, took over the baton to lead a country of over 150 million people. These men became leaders of the millions of Nigerians with PHDs, MBAs, LLMs and several progressive Degrees. At that time, Nigeria was very well developed. Oil riches overflowed and our educational system was one of the world’s best. Fast forward to the new millennium of 2000, Nigeria had degenerated significantly. Government leadership continued to evolve around low-class, visionless men of which many have a long history of criminal activities from forged documents to money laundering. There’s Adams Oshiomhole, an uneducated tailor who became governor of Edo state and subsequently chairman of one of Nigeria’s top 2 political parties. There’s Hope Uzodinma, an uneducated driver who became Senator and subsequently Governor of Imo state. Nigeria is not merely a corrupt, bad or condemned country, Nigeria’s problem is a complete failure of transition of power to high caliber leadership. In 1985 1 Naira traded for 1 Dollar. Today, you need over 400 Naira to buy a dollar. When low-class men or women take over any leadership position in the world, whether in government, business or not-for-profit, minimal developments emerge. Post-colonization era transitioned power to low-class Nigerians and the nation has suffered heavily since then. Between now and 2023, it is a must that power migrates from low-class leadership to the very best high-class leadership. Over 165 million people are depending on this all-important transition.

Top 10 most damaging effects of low-class leadership in Nigeria:... https://olatorera.com/there-was-a-country-nigerians-cry-otoge-as-covid-19-and-2023-elections-wage/

Bode George, a high chieftain of the Peoples Democratic Party (PDP) of Nigeria, has asked President Muhammadu Buhari to reopen the investigation into the untimely and unfortunate death of Funsho Williams. Funsho Williams was a PDP leader brutally murdered in 2006 during a time when he was gubernatorial opponent to Bola Ahmed Tinubu of All Progressives Congress (APC) Party. Another great Nigerian, Bola Ige, passed on amidst similar political uprisings.

According to George, it is commendable that Buhari has re-opened the Bola Ige murder case. The Funsho Williams murder case must also be re-opened. Family, friends and all Nigerians deserve to know why have the killers of Funsho Williams not been brought to justice?... https://olatorera.com/bode-george-asks-buhari-to-reopen-investigation-into-murder-of-funsho-williams/

United Bank for Africa Plc (UBA) (www.UBAgroup.com) has announced the appointments of Rokia Hacko, Chioma Mang, Chinedu Obeta, Bode Aregbesola, Kingsley Ulinfun and Usman Isiaka as chief executive officers of six of its 20 subsidiaries across Africa, subject to regulatory approvals. The new CEOs will drive the Group’s strategy and activities in Mali, Uganda, Zambia, Senegal, Tanzania and Sierra Leone respectively.

In addition, Ogechi Altraide has become the new Head, Retail Banking; Amadao Konate, Head, Treasury & International Payments for UBA America. These international appointments compliment the prior appointments of Sola Yomi-Ajayi as the CEO of UBA America, and Patrick Gutmann as the CEO of UBA UK. UBA provides a full suite of corporate banking products and services to businesses, multilateral institutions and governments transacting from and with Africa.

Earlier this month, UBA announced... https://olatorera.com/united-bank-for-africa-uba-group-announces-new-global-appointments/

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), member of the Islamic Development Bank (IsDB) Group, has launched a new Trade Development Fund (TDFD) with an initial target capital of US$50 million to support trade development projects in member countries of the Organisation of Islamic Cooperation (OIC) and Muslim communities in non-member countries.

The Fund is a Waqf, which from a Shariah perspective means endowed assets and restricting disposing of them, whilst the benefits are for charitable causes.... https://olatorera.com/international-islamic-trade-finance-itfc-launches-trade-development-fund-tdfd/

A Kenyan community whose children and residents were sickened by lead poisoning from a battery smelting plant has been awarded $12 million (1.3 billion Kenyan shillings) following a civil lawsuit. The court ordered the government to clean up Owino Uhuru, a village on the outskirts of Mombasa, within four months and gave the relevant agencies 90 days to pay out the compensation money.
The ruling comes after years of grassroots work by environmental activist Phyllis Omido, who launched a legal challenge against the government and the smelting plant owners, accusing them of violating of Kenyan environmental and human rights law and exposing the community to lead poisoning... https://olatorera.com/how-a-kenyan-village-won-a-12-million-in-a-lawsuit-over-lead-poisoning/

During an investigative hearing before the House Committee on the NDDC, the Minister of Niger Delta Affairs, Godswill Akpabio claimed that lawmakers were beneficiaries of majority of the NDDC contracts. Consequently, Hon. Akpabio released a list linking some members of the National Assembly to some contracts awarded by the Niger Delta Development Commission. However, he failed to specify whether the lawmakers were directly awarded the contracts or they nominated the projects under their constituency projects... https://olatorera.com/akpabio-blows-the-whistle-on-lawmakers-benefiting-from-nddc-contracts/

On April 28, US President Donald Trump in his usual bragging manner promised to send 250 ventilators to Nigeria, after declaring that ‘’Nigeria will do anything for ventilators’’. On May 21 during the Ford Motor Plant tour in Michigan, he inflated the figure to 1,000 ventilators. It has been three months since this pledge and Nigeria has not seen so much as an air vent... https://olatorera.com/where-are-the-ventilators-trump-promised-nigeria/

It is an incontrovertible fact that corruption has been the bane of Nigeria’s development. Thus, without mincing words the phenomenon has ravaged the country and destroyed most of what is held as cherished national values. Unfortunately, the political class saddled with the responsibility of directing the affairs of the country have been the major culprit in perpetrating this act. Regrettably, since independence a notable surviving legacy of the successive political leadership both civilian and military that have managed the affairs of the country at different times has been the institutionalisation of corruption in all agencies of the public service, which, like a deadly virus, has subsequently spread to the private sector of the country. Indeed, it is a paradox that Nigeria, the world’s eighth largest exporter of crude oil, a country endowed with many resources, still has more than 70 percent of its population living below the poverty line as a result of corruption and economic mismanagement. Pathetically, the logic of the Nigerian political leadership class has been that of self-service as some of the leaders are mired in the pursuit of selfish and personal goals at the expense of broader national interests. Consequently, emphasis has been on personal aggrandisement and self-glorification with the result that corruption has become an euphemism for explaining political leadership in Nigeria in relation to the management of national wealth.

History has shown that no nation of the world... https://olatorera.com/political-leadership-and-corruption-in-nigeria-since-1960/

Orange (www.Orange.com), a major telecoms provider in Africa and the Middle East, and NSIA (www.GroupeNSIA.com), a leader of bancassurance, are pleased to announce the launch of Orange Bank Africa in Abidjan and Côte d’Ivoire. Orange Bank Africa, headed by Jean-Louis Menann-Kouamé, will offer clients a range of simple savings and credit services available at all times via mobile phone...https://olatorera.com/orange-bank-africa-has-launched-to-improve-financial-inclusion-across-west-africa/

Hon. (Dr.) Ahmed Musa Ibeto is a Nigerian Politician from Magama Local Government Area of Niger state. is educational career started when he enrolled at LEA Primary School, Ibeto, in 1966. From 1973 to 1977. Ibeto went on to attend Government Secondary School, Rijau. Hon. Ahmed’s desire and determination for qualitative education took him to Zungeru College of Advance Studies (ZUCAS), Bida from 1979 to 1980.· From 1980 to 1985, he was at the famous Usmanu Danfodio University, Sokoto where he graduated with a Bachelor of Arts Degree in History. He was awarded a Doctorate Degree (Honoris Causa) in Administration by California University (USA) in conjunction with the Institute of Journalism, Enugu, in 2003... https://olatorera.com/who-is-ahmed-ibeto-what-are-his-top-3-achievements/

Over the last decade, the Anzisha Prize has celebrated young entrepreneurs and believes that successful transitions from school to entrepreneurship are under-invested. It stands on the Anzisha Prize’s longstanding belief that more young people should choose entrepreneurship to help lessen youth unemployment on the continent. The Anzisha Prize in partnership with African Leadership Academy and Mastercard Foundation is celebrating 10 African entrepreneurs whose transitions into entrepreneurship started before the age of 25... https://olatorera.com/the-anzisha-prize-hall-of-fame-inducts-nigerian-edupreneur-9-others/

The evolution of sim cards has progressed from different stages such as the full sim, mini sim, micro sim, nano sim and now the e-Sim. The eSIM was launched globally in 2016, is the next generation of SIM cards after Nano SIMs which were launched in 2012. However, MTN is unsurprisingly pioneering the first launch in West Africa. Since entering Nigeria in 2001, MTN has been credited for a number of firsts when it comes to mobile communication and Internet penetration. With this novel technology, MTN is set to, once again, establish its dominance in the African tele-communications landscape. Among other benefits, the eSim is expected to stop the incident of recycled numbers, which is fast becoming a menace in Nigeria. Here are 5 things to know about the new eSim:...[url] https://olatorera.com/5-things-you-need-to-know-about-mtns-new-esim/[/url]

Western Metal Products Company (WEMPCO), is a Chinese-owned manufacturing company best known for its steel value-chain group and as the majority shareholder in the popular Oriental Hotel in Lagos. It is also actively involved in agricultural and hospitality sectors. The company was founded by Lewis Tung and his brother Robert Tung, with the Tungs being among the four Chinese families that came to Nigeria in the 60s. With over 40 years in Nigeria, the effect of their exit will heavily impact the jobs and businesses dependent on them.

Reasons fir their exit:... https://olatorera.com/why-are-the-owners-of-oriental-hotel-lagos-exiting-nigeria/

Daniel Pondei was made acting Managing Director of Niger Delta Development Corporation (NDDC) in February 2020 by President Muhammadu Buhari, after the ousting of former MD Joy Nunieh due to heavy corruption allegations. Prior to his appointment, Pondei was a full-time Professor of Medicine at the Niger Delta University and a former Provost of the College of Health Sciences. He was appointed along with 4 other people to manage the forensic financial audit of the NDDC. During the early days of their tenure, the committee, prior to Pondei’s appointment, indicated that they uncovered fraudulent contracts exceeding a trillion Naira... https://olatorera.com/who-is-daniel-pondei-of-niger-delta-development-commission/

Since the Goodluck Jonathan Presidency era ended, the high-potential Nigerian market has proven to be one of the toughest in the world to succeed in business. High production costs brought on by unstable infrastructure services have caused doing business in Nigeria to be difficult for the manufacturing and services industries alike. Business exits from the Nigerian market have caused significant spikes in unemployment and a significant decrease in non-oil revenue, leading to one of Nigeria’s worst recessions... https://olatorera.com/most-shocking-corporate-business-exits-from-nigerian-market/

According to Vice President Yemi Osinbajo, the Federal Government, through the National Economic Sustainability Plan (NESP), is set to implement a number of schemes to keep Micro Small and Medium Enterprises (MSMEs) afloat. The Survival Fund is one of the schemes designed to relieve MSMEs from the effect of the Covid-19 Pandemic. The Survival Fund includes payroll support for three months, along with a guaranteed off-take scheme among others; courtesy of the Economic Sustainability Plan recently approved by President Muhammadu Buhari and the Federal Executive Council.

What the survival fund offers:... https://olatorera.com/what-you-need-to-know-about-the-covid-19-survival-fund-for-msmes/

The United Arab Emirates’ historic first mission to Mars has had a successful lift-off in Japan. The space probe named “Hope” launched on an H2-A rocket from Tanegashima spaceport, and is now on a 500-million-km journey to study the planet’s weather and climate. This marks the Arab world’s first outer space mission and to Mars. Hope is scheduled to return in February 2021 coinciding with the 50th anniversary of the formation of the UAE.

The UAE government revealed that... https://olatorera.com/how-the-uae-is-making-history-with-its-first-mission-to-mars/

As the “edTech” sector steps up to provide solutions to closed schools and universities amid restricted government budgets, Nigeria’s minister of education Mallam Adamu Adamu has directed universities to reopen virtually. In the private sector, First Bank of Nigeria presented 20,000 e-learning devices to the Lagos state government, and MTN has granted free access to online learning platforms for all university students across Africa. With these resources being invested in e-Learning, does it make it an effective educational alternative?... https://olatorera.com/how-effective-is-e-learning-as-a-solution-to-schools-lock-down/