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Politics / Re: President Tinubu Returns To Nigeria After Qatar Trip (Video) by Phlegman: 9:51pm On Mar 04
holuwhagbenga:
B.L.L.B

I get you

I understand your clearly cool
Career / Re: Mental Health Issues In The Workplace by Phlegman: 4:47pm On Nov 21, 2023
Voltron007:
Lol this was me some 7yrs ago when I was still in Nigeria working for Legend.ng.

Everyday you wake up filled with regrets. cheesy

My advise: resign for your mental health.

Legend is known to be a toxic place to work. A colleague resigned to join Legend, he had to return back after working for Legend for about three months.

1 Like

Culture / Re: Yoruba Names Whose Meanings Are Now Lost by Phlegman: 3:27pm On Dec 22, 2022
What is the meaning of ASOTEMARU re|do|do|mi|do|?

Thank you
Politics / Re: Shettima Arrives For Opening Ceremony Of NBA's Annual General Conference by Phlegman: 11:39am On Aug 22, 2022
kka2007:
Nobody told Shettima that you don't button up all the buttons on a suit?

He is a village boy.
What do you expect from his handlers that do not even know how to dress well to formal occasions

1 Like

Politics / Re: Ike Ekweremadu And Wife Denied Bail By UK Court (Video) by Phlegman: 8:42pm On Jun 23, 2022
This is what happens when you listen to the advice of a woman concerning children.

I'm very sure it's his wife who brought the idea of using the innocent boy.

10 Likes 1 Share

Politics / Re: Proscribed Yan Sakai Vigilante Group Kills 11 Fulanis In Sokoto Market by Phlegman: 1:16pm On Oct 09, 2021
shocked
Properties / Re: World’s Most Expensive Homes From Teletubby-style Palace To High-tech Mansions by Phlegman: 9:39pm On Sep 30, 2021
Sundaypaul12345:
Nice one, pls dont try to convert these dollars into naira, u might run mad

shocked
Jobs/Vacancies / Re: Applied For 188 Jobs On Linkedin, No One Clicked. I'm Done Searching! by Phlegman: 9:07am On Jun 02, 2021
Dear Op, do not be discouraged, you are almost there.

I will advise you to optimise your LinkedIn page so it will portray you as a professional in a specific career path.

Secondly, LinkedIn is better when you create contents or share contents. This will enable your profile to show up when peoole are searching for profiles in your career path e.g Customer Service Representative.

Engage with posts of your connections, this will also make you visible to others that may be interested in having you in their team.

Lastly, free courses are flying around that you can do for a deeper knowledge of your chosen career.

Never give up, the best is yet to come.

3 Likes 1 Share

Technology Market / Re: Unscramble This,how Much Did He Lost Total by Phlegman: 11:20am On May 02, 2021
@Javaguru.
I need your help urgently. Kindly let me know how to contact you ASAP.
Crime / Re: Turkey's Largest Crypto Exchange Goes Bust As Founder Flees Country by Phlegman: 11:59am On Apr 23, 2021
Crime / Re: EFCC Arrests Instagram Celebrity, Pankeeroy, 34 Others by Phlegman: 8:12pm On Apr 22, 2021
Instagram and fraudsters looking for the validation of men.
Crime / Turkey's Largest Crypto Exchange Goes Bust As Founder Flees Country by Phlegman: 8:06pm On Apr 22, 2021
(Bloomberg) --

https://www.bloombergquint.com/amp/business/turks-suspect-massive-crypto-losses-as-exchange-ceo-goes-missing

One of Turkey’s largest cryptocurrency exchanges said it lacked the financial strength to continue operations, leaving hundreds of thousands of investors fearing their savings have evaporated as authorities sought to locate the company’s 27-year-old founder, who fled the country.

Confusion reigned about how many users of the Thodex exchange were affected and how much money was at stake. In a statement from an unknown location, Thodex Chief Executive Officer Faruk Fatih Ozer promised to repay investors and to return to Turkey to face justice after he did. The government moved to block the company’s accounts and police raided its head office in Istanbul.

Losses could be as high as $2 billion, according to Haberturk newspaper, and a lawyer for the victims said the money invested by about 390,000 active users had become “irretrievable.” Both figures have been disputed by Ozer. About 30,000 users have been impacted, he said in a statement on the company’s website on Thursday.

While authorities and customers tried to work out the details of what happened, a senior official in President Recep Tayyip Erdogan’s office called for rapid regulation of the crypto market. Globally, the surge in the prices of digital tokens has been accompanied by convictions and regulatory measures after various scams tied to trading platforms.

The Turkish government should take action “as soon as possible,” Cemil Ertem, a senior economic adviser to Erdogan, told Bloomberg. “Pyramid schemes are being established. Turkey will undoubtedly carry out a regulation that’s in line with its economy but also by following global developments.”

Alternative Investments
Thodex was part of the cryptocurrency boom that has drawn in legions of Turks seeking to protect their savings from rampant inflation and an unstable currency. Inflation hit 16.2% in March, more than three times the central bank’s target of 5%. The Turkish lira has weakened 10% against the dollar this year, its ninth consecutive year of losses.

The government spent a massive $165 billion in foreign-exchange reserves over the past two years, Erdogan revealed on Wednesday, part of a futile effort to prop up the national currency. Concern about the country’s dwindling foreign-exchange reserves, which are negative when money borrowed by the government from private banks via swap agreements are factored in, has fueled concern about both lira and dollar deposits -- and pushed savers into alternative investment vehicles.

Last Friday, the volume of trade in Turkish crypto markets tripled to over $1.2 billion from a week earlier, according to data published by coingecko.com, which tracks data on price, volume and market value on crypto markets. That compares with an average daily trading volume in the Turkish stock market’s benchmark index of about $3.1 billion.

“One can establish a crypto exchange with just 50,000 liras (about $6,000) in capital,” Oguz Evren Kilic, a lawyer representing Thodex users, said by phone. “There’s a huge regulatory gap in this field.”

Ozer didn’t respond to multiple calls to his mobile phone. The company’s call center also didn’t pick up calls. Bedirhan Oguz Basibuyuk, Thodex’s lawyer, told Bloomberg he doesn’t know where Ozer is but that he’s not in Turkey. Demiroren News Agency reported that he fled to Albania on Tuesday, publishing what it said was a photo of him at Istanbul’s airport.


Dogecoin Campaign
Last month, Thodex initiated a campaign to boost membership by offering millions of free Dogecoins to new registrants. Its website says 4 million of the coins were distributed, though many people have taken to social media to complain they never received them.

“I was born as one of the three siblings of a civil servant,” Ozer said in his statement, adding that he’s a high-school dropout. As the company ran into financial trouble, he said he thought about either committing suicide or giving himself up to authorities, but both of those options meant clients’ assets would never be retrieved.

“So I decided to stay alive and fight, work and repay my debts to you,” he said. “The day I repay all my debt, I will return to my country and give myself in to justice.”

©2021 Bloomberg L.P.

1 Like 2 Shares

Business / Turkey's Largest Crypto Exchange Goes Bust As Founder Flees Country by Phlegman: 7:57pm On Apr 22, 2021
Turkish Crypto Exchange Goes Bust as Founder Flees Country
Taylan Bilgic Firat Kozok


(Bloomberg) --

One of Turkey’s largest cryptocurrency exchanges said it lacked the financial strength to continue operations, leaving hundreds of thousands of investors fearing their savings have evaporated as authorities sought to locate the company’s 27-year-old founder, who fled the country.

Confusion reigned about how many users of the Thodex exchange were affected and how much money was at stake. In a statement from an unknown location, Thodex Chief Executive Officer Faruk Fatih Ozer promised to repay investors and to return to Turkey to face justice after he did. The government moved to block the company’s accounts and police raided its head office in Istanbul.

Losses could be as high as $2 billion, according to Haberturk newspaper, and a lawyer for the victims said the money invested by about 390,000 active users had become “irretrievable.” Both figures have been disputed by Ozer. About 30,000 users have been impacted, he said in a statement on the company’s website on Thursday.

While authorities and customers tried to work out the details of what happened, a senior official in President Recep Tayyip Erdogan’s office called for rapid regulation of the crypto market. Globally, the surge in the prices of digital tokens has been accompanied by convictions and regulatory measures after various scams tied to trading platforms.

The Turkish government should take action “as soon as possible,” Cemil Ertem, a senior economic adviser to Erdogan, told Bloomberg. “Pyramid schemes are being established. Turkey will undoubtedly carry out a regulation that’s in line with its economy but also by following global developments.”

Alternative Investments
Thodex was part of the cryptocurrency boom that has drawn in legions of Turks seeking to protect their savings from rampant inflation and an unstable currency. Inflation hit 16.2% in March, more than three times the central bank’s target of 5%. The Turkish lira has weakened 10% against the dollar this year, its ninth consecutive year of losses.

The government spent a massive $165 billion in foreign-exchange reserves over the past two years, Erdogan revealed on Wednesday, part of a futile effort to prop up the national currency. Concern about the country’s dwindling foreign-exchange reserves, which are negative when money borrowed by the government from private banks via swap agreements are factored in, has fueled concern about both lira and dollar deposits -- and pushed savers into alternative investment vehicles.

Last Friday, the volume of trade in Turkish crypto markets tripled to over $1.2 billion from a week earlier, according to data published by coingecko.com, which tracks data on price, volume and market value on crypto markets. That compares with an average daily trading volume in the Turkish stock market’s benchmark index of about $3.1 billion.

“One can establish a crypto exchange with just 50,000 liras (about $6,000) in capital,” Oguz Evren Kilic, a lawyer representing Thodex users, said by phone. “There’s a huge regulatory gap in this field.”

Ozer didn’t respond to multiple calls to his mobile phone. The company’s call center also didn’t pick up calls. Bedirhan Oguz Basibuyuk, Thodex’s lawyer, told Bloomberg he doesn’t know where Ozer is but that he’s not in Turkey. Demiroren News Agency reported that he fled to Albania on Tuesday, publishing what it said was a photo of him at Istanbul’s airport.


Dogecoin Campaign
Last month, Thodex initiated a campaign to boost membership by offering millions of free Dogecoins to new registrants. Its website says 4 million of the coins were distributed, though many people have taken to social media to complain they never received them.

“I was born as one of the three siblings of a civil servant,” Ozer said in his statement, adding that he’s a high-school dropout. As the company ran into financial trouble, he said he thought about either committing suicide or giving himself up to authorities, but both of those options meant clients’ assets would never be retrieved.

“So I decided to stay alive and fight, work and repay my debts to you,” he said. “The day I repay all my debt, I will return to my country and give myself in to justice.”

©2021 Bloomberg L.P.

Politics / Re: Document Shows Pantami Plotted To “violently Wipe Away Christians” From North by Phlegman: 12:28am On Apr 22, 2021
Nigeria is gone. With this revelation, things will never be the same in this country.

The Sultan of Sokoto is also involved.

Expect turbulent times in Nigeria. The end is so near for the nation called Nigeria.

6 Likes 1 Share

Business / Bernard Madoff: The Man Who Ran The World's Largest Ponzi Scheme Dies by Phlegman: 3:33am On Apr 17, 2021
When Bernard Madoff’s Ponzi scheme collapsed in December 2008, $65bn vanished overnight, devastating tens of thousands of small investors, charities and religious groups who continue to struggle to this day.

The former chair of the Nasdaq stock market’s confession that his fabled investment company was “one big lie” came at the depths of the financial crisis and riveted global attention. Amid an alphabet soup of opaque financial products that had crashed the world economy, people could understand this crime.

Madoff, who died this week aged 82 in a North Carolina prison, was so hated that he wore a bulletproof vest in court. His saga has sparked at least five on-screen depictions, including portrayals by Robert De Niro and Richard Dreyfuss. “Underneath that facade, there truly is a beast. He has fed upon us,” Sheryl Weinstein, one of his victims, testified at his sentencing.

Though the scrappy broker turned Manhattan mogul was the chief villain, Wall Street and the financial capitals of Europe were tarnished, too. His apparent extraordinary run of steady, solid returns had raised red flags for years, but many hedge funds, banks and asset managers clamoured to profit from him rather than ask questions.

Born in 1938 in Queens, Madoff watched his father’s sporting goods business collapse and then dropped out of law school. Using money from lifeguarding and installing sprinklers, he started a tiny brokerage, Bernard L Madoff Investment Securities, in 1960 and built it into a powerhouse with the controversial tactic of paying traders to send their orders to him.

He always felt shut out from “the club” of the New York Stock Exchange and Wall Street’s elite “white shoe” firms. “They fought me every step of the way,” he said in a 2011 prison interview. Yet by the 1980s, his firm was processing up to 5 per cent of NYSE trading.

A side hustle managing people’s money quietly expanded as he tapped a growing network of investors ranging from the New York University endowment to Holocaust survivor Elie Wiesel to members of the Palm Beach country.

Elegant and well-tailored, Madoff cultivated an air of exclusivity. His business occupied a Manhattan skyscraper, and he bought a penthouse and 56-foot yacht named “Bull”. He attributed his results to a mysterious “split strike” strategy.

Asset managers fell over themselves to send him client money, setting up special “feeder funds”. Few seemed concerned that the operation was audited by a two-man shop and refused to use an outside custodian to keep assets safe.

Most investment banks were more suspicious because their traders never seemed to encounter Madoff’s investment arm as a counterparty. But JPMorgan Chase acted as his banker. It later paid a record $2.6bn for failing to alert authorities to the suspicions that led it to pull out $250m of its own money.

Regulators did no better. Though the US Securities and Exchange Commission received six “substantive complaints” from 1992 onwards, its examiners were charmed by Madoff’s “plausible” explanations, a later investigation found.

By 2008, Madoff had taken in $17bn and sent investors false statements claiming that their holdings amounted to $65bn. The tower of lies crumbled when the financial crisis prompted big investors to pull out funds. Since he had been using new investors’ money to pay off old ones, Madoff was trapped. One December evening, he confessed to his family that the whole business was a scam. His sons turned him in to the authorities the next day.

He pleaded guilty in 2009. “I am responsible for a great deal of suffering and pain. I understand that,” he said as he was sentenced to the maximum 150 years. “I am sorry.”

One of Madoff’s sons later killed himself, the other died of cancer. His brother Peter spent nine years in prison, and his wife Ruth was stripped of their fortune. Last year, the original judge rejected Madoff’s request for compassionate release because he had kidney failure. “It was fully my intent that he live out the rest of his life in prison,” Denny Chin wrote.

The trustee charged with trying to recover money for the victims sprayed the financial world with legal claims against those who profited from their Madoff association. More than 30 targets have ponied up $14.4bn so far.

“The pain experienced by the victims of Mr Madoff’s fraud is not diminished by his death, nor is our work on behalf of his victims finished,” the trustee Irving Picard said this week.

https://www.ft.com/content/df7263ef-31a5-487e-af76-8df4af8afa2d

6 Likes 4 Shares

Education / Re: Crescent University, Ogun, Probes Gay Student Over Sex With Fellow Undergraduate by Phlegman: 3:40pm On Mar 13, 2021
What is Samuel Olusope, a supposed Christian doing in a Muslim university?

There are questions that needs to be asked about the incidence.[color=#000099][/color]
Education / Re: Crescent University, Ogun, Probes Gay Student Over Sex With Fellow Undergraduate by Phlegman: 3:35pm On Mar 13, 2021
What is Samuel Olusope, a supposed Christian doing in a Muslim university?

There are questions that needs to be asked about the incidence.

1 Like

Politics / Re: Northern Traders Call-Off Strike, Say FG Agreed To Pay N4.75bn Compensation by Phlegman: 8:47pm On Mar 03, 2021
These ones are just joking. When did Yahaya Bello become the representative of the Federal Government of Nigeria?

They have discovered that they are the ones losing because there is no market for their products.

1 Like

Health / Re: COVID-19: Nigeria Expecting 58 Million Doses Of Vaccines - Osagie Ehanire by Phlegman: 9:55pm On Feb 08, 2021
COVAX vaccine?

Is it not the same the UN said the will not give Nigeria due to lack of storage facility?

Oh my Nigeria; the more you look, the less you see
Health / Re: COVID-19 Outbreak After NiN Registration Kills Many by Phlegman: 12:03am On Jan 31, 2021
COVID 19 is as real as the air we breathe.

I have heard of cases of people dying from the disease. The best thing the government can do is to lockdown the country, if not, people will not observe safely precautions and protocols.

1 Like

Politics / Re: Nigerian Airforce Apologizes For Using Old Photos As Images Of Marte's Battle by Phlegman: 9:01am On Jan 20, 2021
okedoyinolabisi:
caught in the act!! as always.
happy birthday to me o jare

Happy birthday. More wins for you in your new year. Habe a success filled year ahead.
Career / Re: Slaves: Story Of Hardship By Nigerian Workers In Indian, Chinese factories by Phlegman: 6:34pm On Jan 19, 2021
I feel for those that are working in this companies. Honestly speaking, if you're not comfortable with any company you're working with, kindly take the exit door.

Nigerians always want people to sympathize with them when they can take action and free themselves.

You walked into the company with your two legs without any force or coercion, kindly use the same way and leave the company.
Career / Re: Relocation From Abuja To Lagos: What Do I Need To Do? by Phlegman: 9:31pm On Jan 17, 2021
angelusbrut:


Ur welcome
If you like you can do a brief introduction of your self on the platform stating your experience,no of years of experience,other skills you have, school you attended with your linkedin link,
It's optional thou

Alright. Thank you
Career / Re: Relocation From Abuja To Lagos: What Do I Need To Do? by Phlegman: 9:21pm On Jan 17, 2021
angelusbrut:


I have copied and done that already, you will be going through the jobs there,they have rules there ooo, you don't ask questions, you just be checking jobs and pick the one that suits you,I'm sure that in the next one month, you will sure testify. It's a telegram group

Thank you.
I am grateful
Career / Re: Relocation From Abuja To Lagos: What Do I Need To Do? by Phlegman: 9:14pm On Jan 17, 2021
angelusbrut:


I need to add u on a telegram page that will help you get jobs of between 100-150k or there about, you don't pay money there,it's free sha

Thank you

Kindly check my signature for my contact.
Career / Re: Relocation From Abuja To Lagos: What Do I Need To Do? by Phlegman: 9:10pm On Jan 17, 2021
cc @1forall
@crazyman

Kindly help me move it to front page for more professional advice. Thank you guus
Career / Re: Relocation From Abuja To Lagos: What Do I Need To Do? by Phlegman: 9:05pm On Jan 17, 2021
angelusbrut:


Do you know how to handle social media? If yes fine, you will sure stand out,I'd no you need to get that done ASAP to increase chances of getting a better job


I've worked as a Social Media Manager before.
I have a strong presence on LinkedIn also which I think is the most important media channel i can use to achieve my goal.

Thank you for your response.
Career / Re: Relocation From Abuja To Lagos: What Do I Need To Do? by Phlegman: 3:19pm On Jan 17, 2021
setobaba:
Just the Tfair bro all you need is the transport

I don't understand you point.
Kindly explain for better understanding
Thank you
Romance / Re: My Pre Wedding Pictures by Phlegman: 11:27am On Jan 09, 2021
Congratulations my friend.

1 Like

Business / Re: Elon Musk Is Now The Richest Person In The World, Passing Jeff Bezos by Phlegman: 5:59pm On Jan 07, 2021
This is amazing.
Congratulations to Elon Musk

1 Like

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