₦airaland Forum

Sample opinions of some Nigerians on whether they can emulate a Briton who donated a kidney to her ex 5 years after divorce.

I CAN'T RETURN TO WHERE I BADE GOOD NIGHT – Kola Abiola
I doubt if I will be able to do such. I mean, we have divorced already, which implies an end to anything between us, except, of course, if we have kids together. You will simply find yourself doing things you ought not to be doing. It is an indirect way of rekindling what you both once shared. To me, since you are divorced, it should stay that way. Going through such an act is a sign of commitment, or better still, a connection is still present, which might lead to doing the unwanted.

I WILL IF WE’VE KIDS TOGETHER – Chidinma Onwupeluonye
I am not sure I can do it because giving someone my kidney takes some level of commitment, trust and love. If he is my ex, there is a reason he is my ex, probably the relationship did not work out or we fell out of love for each other. The only way I will do it is if we have another kind of emotional attachment to each other, maybe a kid, meaning he isn’t just my ex, he is also the father of my kid. But if not, I can’t.

SHE CAN ASK HER NEW MAN, NOT ME – Onakunle Olayemi
Divorce is not an option for me because it is not acceptable in my faith. However, assuming such a scenario happened, I can never donate my kidney to my ex. Personally, I feel an ex does not belong to the clique that I can sacrifice such an important organ or even a thing for. Perhaps she’s even remarried or in another relationship, why should I? Even if she hasn’t remarried or not in a new relationship, she can take the kidney, survive and still go with another man. Then that will be a double loss!

I‘LL DO IT FOR THE SAKE OF HUMANITY – Esther Ogwu
Yes, I will because of the past relationship we had together and for the sake of humanity. Regardless of what it is that led to the divorce, it is also important to save a life. If I have the power to save a life, why not exercise it? Life is too precious to not be taken seriously. We as individuals need to make use of our heart more and we need to realise that we were meant to help each other. We must realise the essence of being human. So, in conclusion, I will, simply because it’s necessary to give back to people be it friend or foe. There is no need to be hateful or spiteful because harbouring hatred in one’s heart will block blessings.

IT'S AN INSENSIBLE THING TO DO – Adebayo Obatungashe
The word of God admonishes us to love our neighbours the way we love ourselves. However, we must not allow the love to blindfold us to the extent of endangering ourselves. I recognise the fact that my ex-wife is the mother of my children, the relationship between the two of us which culminated to marriage and childbearing cannot, in any way, be negotiated for anything.

Notwithstanding this, it’s unimaginable and insensible for me to trade off my kidney for whatsoever reason. God created me with kidneys for my use alone. God knows the usefulness and roles the two kidneys will perform in my body system, hence he made it two for me. It will, therefore, be against the will of God to remove one in the name of showing love to a fellow human being. I cannot donate my kidney to anybody for $10m. I have my life to live and other people have theirs to live too.

I’LL CONSIDER WHAT WE ONCE SHARED – Blessing Acha
I would do it because I know to err is human, to forgive is divine. If he dies, it won’t be a good thing. I would rather do what is expected of me and let the guilt rub on him like mud when he finds out I donated my kidney to him. I would look at what we once shared. If we had kids together, I would think of my children because he is still their father. This is the more reason I would donate it to him.

I CAN DO IT FOR ANYONE – Amodu Shakiru
Yes, I can donate my kidney to not just my ex but anyone to save their life. I’m a lifesaver as my profession dictates, and the onus is on me whenever I’m called upon. All I need is just a prayer. If according to God’s fate , I’m to lose my life, please bless with your protecting hands, my children and wife.

THERE'S NO REASON TO DO SO – Queeneth Ijezie
I don’t subscribe to divorce. I would try every appropriate means to make my marriage work. If it eventually ends in divorce, I see no reason why I would donate my kidney to him.

HER FAMILY MEMBERS CAN BE DONORS NOT ME – Akeem Alao
While I can go the extra mile to help a dear person in dire need, it can never be done to the detriment of my life. I strongly believe that donating my kidney, even to a family member, can pose dangers to my health later in the future.

I can’t donate my kidney to my ex. Apart from the fact that the kidney is useful to me because I have no idea of what will happen in future, what if my wife is in need of a kidney? To me, those who claim that they can do that out of love and compassion are simply endangering their lives. My ex is gone, and my concentration is on my wife. Her husband can do that for her. If she has not yet remarried, her family members are potential donors. Not me.

I CAN'T RISK MY LIFE FOR AN EX – Temiloluwa Olatunji
No, I can’t. In the first place, divorce happens as a result of irreconcilable differences. Therefore, donating a kidney is too much for me to do for someone I don’t even have anything to do with anymore. I can’t risk my life.

SOURCE: https://punchng.com/can-you-donate-a-kidney-to-your-ex-after-divorce/

Notwithstanding the country’s challenging and aggressively competitive business environment, Fidelity Bank Plc passed a solid financial performance in the first half of 2019, reporting a second-digit increase in key income lines whilst obtaining important traction in digital banking uptake.

Details of the audited half-year result for the period ended June 30, 2019, published at the Nigerian Stock Exchange (NSE) recently, showed a 15.7% rise in profit before tax (PBT), from N13 billion in the earlier period to N15.1 bn in the reporting period. Profit after tax (PAT) increased by 15.6% to close at N13.6 bn from the N11.8 bn recorded in 2018, whilst gross profits improved by 12.3% from N92.3 bn to N103.7 bn.

Also, the bank’s total assets rose by 12.8% to N1.940 trillion, from N1.720 trn the previous period. Total deposits, a measure of customer confidence, increased by 12% to close at N1.097 trn, from N979.4 bn in 2018 financial year (FY).

Commenting on the results, Fidelity Bank CEO, Mr Nnamdi Okonkwo, expressed delight with the bank’s financial performance. According to Okonkwo, the bank remained focused on the execution of its medium-term strategic goals and targets for 2019 full-year, whilst promising that the bank would continue to sustain the momentum and deliver another strong set of results for the nine-month 2019.

He said: “Gross Earnings increased by 12.3% to N103.7 billion, driven by a 52.4% growth in our fee-based income and a 7.2% growth in interest income.”

Digital banking, Okonkwo said, has proceeded to gain traction, driven by new initiatives in the retail lending segment and increased cross-selling of its digital banking products.

“We now have 45% of our customers enrolled in the bank’s mobile/internet banking products, 82% of total transactions now done on digital platforms and 29% of fee-based income now coming from digital banking,” he added.

The Fidelity CEO pointed out that retail loans were steadily on the rise after the launch of the bank’s new digital lending product dubbed Fidelity Fastloan, further adding that the bank has deepened lending partnerships with select Financial Technology (FinTechs) companies.

Buoyed essentially by innovative digital technologies, Fidelity Bank’s retail strategy has become a major game-changer for the business. This was again evident in the first half of 2019 results as savings deposits now account for about 22.6% of total deposits – a clear sign of the bank’s increasing market share in the retail segment.

“We are on course to achieving the 6th consecutive year of double-digit savings growth,” the CEO stated.

In addition, total deposits increased by 12% to N1.097 trillion, from N979.4 billion, driven by double-digit growth in both local and foreign currency deposits. Also, non-performing loans (NPLs) ratio improved to 5.4% from 5.7% in 2018 full year, due to growth in the loan book.

With regulatory ratios such as the Capital Adequacy Ratio at 17%, liquidity ratio at 34.8%, well above required threshold, Okonkwo was optimistic that the bank would sustain this sterling performance in the second half of the year.

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over four million customers who are served across its 240 business offices and various digital banking channels.

The bank, which focuses on select niche corporate banking sectors as well as micro, small and medium scale enterprises (MSMEs), has in recent times won accolades as the Best SME Friendly Bank, Best in Mobile Banking and the Most Improved Corporate/Investment Bank among several industry awards and recognition.

SOURCE: https://brandspurng.com/2019/09/02/fidelity-bank-records-double-digit-half-year-earnings-profitability-growth/

The federal government will today shut down a part of the Lagos-Ibadan expressway partly for reconstruction work to be done.
The road would be shut-down partly for four months to allow the contractor, Julius Berger Plc, begin reconstruction work on a part of the major carriageway

The ever-busy expressway has suffered serious neglect over the years as little efforts were made to update the facility to meet the demands of the vehicles going in and out of Lagos on a daily basis.

The closure of the Lagos section of the road, which was initially scheduled for August 3, 2019, was put off because it had clashed with Eid-el Kabir and the annual convention of the Redeemed Christian Church of God (RCCG).

The federal controller of works, Lagos State, Adedamola Kuti, told Channels TV last night that the partial closure would last for four months. He added that there were alternative routes to ensure that motorists and other road users do not suffer during the period of the partial closure.

“Work will start today, September 2, all through December 15. We are working on both bounds – out-bound Lagos and in-bound Lagos,” he explained. He had said the initial postponement was meant to show sensitivity to Nigerians and to make provision for effective traffic management.

SOURCE: https://brandspurng.com/2019/09/02/lagos-ibadan-expressway-partial-closure-commences-today-for-rehabilitation/

The President, Christian Association of Nigeria, Dr Supo Ayokunle, as well as top members of the Pentecostal Fellowship of Nigeria and other Christian bodies, including the General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, on Saturday asked President Muhammadu Buhari to “completely scrap” the suspended Rural Grazing Area scheme, popularly known as Ruga.

This was disclosed at the Church leaders stakeholders’ summit, themed, ‘RUGA: The church’s response in the 21st century,’ which held at the ShepherdHill Baptist Church, in Lagos on Saturday. Other church leaders present at the summit included the President of the Christian Council of Nigeria, Most Rev Benebo Fubara-Manuel; President of the Organisation of African Instituted Churches, Dr Napo Emuchey; Vice-President of CAN, Rev Caleb Ahima, and the acting General Secretary, CAN, Mr Joseph Daramola.

However, the President, Pentecostal Fellowship of Nigeria, Rev Felix Omobude; the Presiding Bishop, Living Faith Church Worldwide, Dr David Oyedepo; and the President, Catholic Secretariat of Nigeria, Archbishop Augustine Akubeze, were billed to attend the summit, according to the programme of the event, but they were absent. But the spokesperson for CAN, Pastor Bayo Oladeji, said all the blocs of the Christian body were represented at the meeting.

Reacting to observations that Omobude was not in attendance, Oladeji said the cleric was out of the country. “Though he could not make it to the meeting because he is out of the country, he sent a representative. All the blocs making up CAN were fully represented at the meeting and they all endorsed the decisions and resolutions.”

Speaking at the summit, which centred on insecurity in the country, the CAN president said the association’s involvement in the debate was needed as CAN, which is the umbrella body for all Christians in the country, could not fold its arms when the church was “hurting very badly at the hands of Fulani herdsmen.”

A one-minute silence was observed at the event in honour of Rev Fr David Tank, who was ambushed and brutally killed by bandits at Kufai Amadu in Takum Local Government Area of Taraba State on August 29. The slain cleric, who was set ablaze in his vehicle, was said to be on his way to Takum for a peace meeting with his fellow clergymen on how to resolve the lingering Tiv/Jukun crisis.

Many Nigerians have been killed as a result of clashes between farmers and Fulani herdsmen in the past months and years.
In its report for 2018, Human Rights Watch, an international non-governmental organisation, said communal conflict between nomadic herdsmen and farmers in the Middle Belt intensified in 2018 and that at least 1,600 persons were killed while about 300,000 persons were displaced.

The Federal Government, in finding a solution to the clashes, designed the RUGA scheme to settle the Fulani and their cattle on acquired land across states of the federation. The scheme however attracted severe criticism, forcing the Federal Government to “suspend” the scheme on July 3, 2019, even though some states in the North, like Zamfara and Kano, decided to continue with its implementation.

Presidential aide on New Media, Bashir Ahmad, had tweeted, “The Federal Government after consultations with stakeholders has suspended the RUGA Settlement Project, for now, Kebbi State Governor disclosed that after a meeting with Vice-President Yemi Osinbajo.”

But speaking at the stakeholders’ summit on Saturday, Ayokunle while commending the President for suspending the Ruga scheme, said, “We believe Ruga was just an unnecessary impediment in the wheel of the nation’s progress. We urge President Muhammadu Buhari that he must summon courage to go further by scrapping it completely.”

CAN ASKS BUHARI TO SCRAP RUGA, BAN MIYETTI ALLAH
In his earlier special address on the theme, Ayokunle said the association took painstaking approach to set up a committee to dig deep into the issue of Ruga before coming up with recommendations.

He added, “Anything that smacks of mutual suspicion should be avoided in the interest of national unity. The Federal Government should immediately disarm and prosecute the Fulani herdsmen terrorists that have been recorded as one of the deadliest terrorists groups in the world.

“The group of Miyetti Allah Cattle Breeders Association which openly supported the activities of the murderous Fulani herdsmen be identified and banned immediately. President Buhari should suspend his membership and patronage of Miyetti Allah Cattle Breeders Association until he leaves office to reduce tension.”

Ayokunle, who also spoke with journalists shortly after the meeting, stated that insecurity in the country had become an embarrassment. “Enough is enough about insecurity in the country. It is totally embarrassing and people are having sleepless nights over it. There is no free movement anymore. Even military officers can no longer travel without heavy military escort; it is as bad as that. It is happening on a daily basis, it is no longer propaganda, neither is it political opposition talks.

“Our relatives are constantly being kidnapped and we are being compelled to look for money to pay ransoms. There are no other persons we can call upon than the government because that is why they are there. They should be able to mop up the guns which these criminals are using to threaten others and also arrest them.”

Ayokunle said it was clear that there were facts about RUGA which the government had not cleared or refuted.

For instance, he pointed out, “Large expanse of land will be delineated and taken from indigenous people in all the 774 local government areas for use by Fulani herdsmen. The Federal Government will deep its hand into the commonwealth of the nation to develop this programme for the interest of just one out of the 250 ethnic nationalities in Nigeria contrary to the provisions of the constitution.

“As perceived, these settlements will over time metamorphose into politico-religious entities within host communities, thereby reconfiguring the political, religious and cultural status of the environment. This is capable of becoming a landmine for future crisis that will be to the advantage of the settlers. The situations in Plateau and Southern Kaduna are very instructive.

“The Ruga programme is a contradiction to the modern-day livestock production system that centres on ranching and feedlots.”

The CAN president also said investigations had shown that there was no nexus between Ruga and the National Livestock Transformation Programme that was being pursued by the Federal Government.

“What we see is a surreptitious insertion and speedy implementation of selfishly concocted programme into a robust and holistically articulated national livestock transformation programme approved by the National Economic Council,” he added.

Ayokunle said CAN would present its recommendations and advice to the Federal Government for consideration. “We are going to send our position to the Federal Government in black and white because we know that we are part and parcel of this nation and it is our own duty also to help government as the few of them in government cannot know everything. So, they should be prepared to listen.

“We have consulted experts, so government should be very brave in listening and meditating over recommendations coming from us because we are closer to the market people more than them and we are the ones that their policies have direct impact on. So, when they (government) think they are helping us and we are feeling pains through this help, anyone in government should be wise enough to think twice before continuing with such a policy.

“We are convinced that Nigeria can operate a rancour-free agro-allied business where all stakeholders can contribute to the transformation of agriculture for the needed food sustenance of the nation and job creation, rather than the present situation where agriculture has become an avenue for cheap death for Nigerian citizens.”

ADEBOYE SPEAKS ON RUGA
Meanwhile, Adeboye, who urged the stakeholders to listen with anointed ears to his rather proverbial address at the event. He said he would relay an encounter he had with a close, mathematician friend of his, whom he said advised Christians to reduce or stop the consumption of beef.

He said, “Please, do not quote me, quote my friend. Listen with anointed ears. I have a friend who is a mathematician and he is very funny. My mathematician friend told me a story that a cattle rearer kills your brother and your brother’s blood spilled on the grass and the cow eats from the grass, directly or indirectly, you are also participating in the killing of that your brother.

“Someone cannot be killing your brother and you are eating his cow meat. My friend said if you begin to allow them to rear cow at your backyard, very soon, they will send you out of your house. My friend also said that even the scientists have said that red meat is not good for our health and we are buying cow meat, why can’t we eat fish which has been confirmed to be the best for us. My friend said if we stop eating cow meat for a while, the man who sells it will come and renegotiate the terms.”

When contacted on the call for the scrapping of RUGA by CAN and other church leaders, the Senior Special Assistant to the President on Media and Publicity, Mr Garba Shehu, re-directed one of our correspondents to the Minister of Information and Culture, Alhaji Lai Mohammed. “We now have a Minister of Information. Please, can you speak to him?” he said.

Meanwhile, efforts to get the response of the minister were not successful as he did not answer his calls neither did he reply the text message sent to his phone as of press time. Meanwhile, a top source at the Federal Ministry of Agriculture and Rural Development has told one of our correspondents in Abuja on Friday that the Ruga settlement initiative was now being managed by the presidency and is no longer under the full control of the ministry.

FG BUDGETS N12BN FOR CONTROVERSIAL SCHEME – REPORT
In another development, SUNDAY PUNCH investigations revealed that the Federal Government planned to spend N12.11bn for the establishment of eight Ruga settlements in each of the eleven frontline states in the federation, including Adamawa, Benue, Kebbi, Kaduna, Katsina, Nasarawa, Niger, Taraba, Plateau, Sokoto and Zamfara.

A document by the Federal Ministry of Agriculture and Rural Development, ‘Intervention for resolving farmers-herders clashes in Nigeria through establishment of Ruga model settlement, which was sighted by one of our correspondents, indicated that the Federal Executive Council had approved the funds in the 2018 before Ruga scheme suffered setback.

However, a source at the Federal Ministry of Agriculture and Rural Development told one of our correspondents that the proposed budget of N12.117bn had been released to enable the Federal Government to end the clashes swiftly through the implementation of the project. The immediate past Senior Special Assistant on National Assembly Matters (Senate) to the President, Senator Ita Enang, had disclosed that N2.258bn was provided for the implementation of the Ruga programme in the 2019 budget.

Meanwhile, before the 2019 budget for the scheme was unveiled, the source in the ministry alleged that the Ministry of Interior, under the former minister, Lt. Gen. Abdulrahman Dambazau (retd), had proposed that operatives of the Nigeria Security and Civil Defence Corps would provide security in each of the 88 Ruga settlements.

The source said, “The former minister proposed a sum of N1bn to provide security at the Ruga settlements. The money was released to the ministry before the controversies around the project started.”

SOURCE: https://punchng.com/can-president-adeboye-others-meet-over-insecurity/

The Rice Processors Association of Nigeria on Thursday backed the Federal Government’s closure of the land border with Benin Republic and other neighbouring countries. It said the move was needed to address the rising case of rice smuggling into Nigeria from neighbouring countries, adding that the country would have lost $400m on smuggling of foreign rice through the land borders.

RIPAN described the closure as long overdue, noting that it was in the best interest of the economy. The association said that the action of the government had suddenly returned life to the rice value chain as the hitherto subdued mills had resumed operations within one week of the border closure.

The President, RIPAN, Mohammed Maifata, said these during an interview with journalists in Abuja. He commended the Federal Government for taking the decision to carry out surveillance on the nation’s borders, stating that Nigeria risked losing over $400m to rice smuggling if over one million metric tonnes of the commodity were allowed to enter the country from Benin Republic.

Maifata said the association arrived at the figure after an intensive border and port survey. He said the closure of the Nigerian-Benin Republic border would help curb the menace of rice smuggling and boost productivity of operators in the sector. From January to date, he said, over one million metric tonnes of rice were brought into Benin mostly from Thailand and India.

He said, “We came to let the whole world know that we support this action and we are with the government in this journey. We will support them with all what we can, in terms of information and statistics – whatever they need from us – we are ready to do it. We want the whole nation to support the government in this fight: it is for the benefit of Nigeria. I want you to know that the insinuation that we cannot feed ourselves with rice is not true.

“We as an association met yesterday and tasked ourselves to produce massively so that we can fill the gap voided by the smuggling activities. And we are up to the task and are determined to do it.”

He added, “By this action of government, it has opened up many things within this week of closure of the border. All the mills are now open producing at almost 100 per cent capacity. Procurement of paddy has resumed by the millers and farmers are happy because they are expecting new harvests in November.”

The RIPAN boss also said based on findings by the association, about half a million metric tonnes of rice had already been ordered from Thailand for onward movement to Nigeria. This, according to him, was being done by rice smugglers in preparation for the Christmas season. Mafaita said if the product was smuggled into the country, it would have negative impact on rice processors as well as lead to loss of jobs.

He said, “Already, an order for half a million tonnes was placed by smugglers in anticipation of the Christmas period. They hoped to bring it in November. These are things we already know; a lot others come in containers.

“The implication is that everything that comes to Benin comes to Nigeria because no other country in the West Coast eats parboiled rice; it’s only Nigeria.”

He also said the association had further resolved not to take undue advantage of the situation to hike the price of the commodity going forward. In terms of pricing and supply, he said the association had agreed to sell the product for between N13, 300 and N14, 000.

SOURCE: https://punchng.com/border-closure-to-save-nigeria-400m-rice-growers/

Incumbent Governor, Alhaji Yahaya Bello, has emerged the candidate of the All Progressives Congress, in the primary held on Thursday. He polled 3,224 votes to emerge the winner in a primary contested by 10 aspirants.

The governor was followed by Dr Babatunde Irukera who polled 109 and Hassan Baiwa who polled 44.

Other results as announced by the returning officer are Yahaya Audu (10 votes), Sani Lulu Abdulahi, (7 votes), Bashir Gegu (4 votes), Blessing Ekele (0) Iyoma Hadiza (0), Yakuba Muhammed (0) and Dalami Muhammed (0).

Announcing the result after the close of polls at 6pm, the Governor of Jigawa State, Badaru Abubakar, who was the returning officer, urged delegates to accept the result of the election in good faith. He put the total number of delegates at 3,500.

However, Irukera said the election was fraught with irregularities, adding that the exercise fell short of acceptable norms.

Another aspirant, Bewa staged a walk out from the Confluence Stadium, Lokoja venue of the primary, alleging that the primary had been compromised.

Earlier, the vacation judge sitting at a Kogi State High Court, Lokoja, Justice Abdul Awulu, declined the ex parte application filed by Mustapha Audu to stop the governorship primary of the APC. Audu had filed an ex parte application before the court and sought among others, an interim order restraining the APC and others from conducting the Kogi State’s governorship primary.

Ruling on the matter, Justice Awulu, said, “The issue to resolve is whether a court can restrain by an order of injunction the holding of a primary election by a political party. This is my view and I so hold that the holding or conducting primary by a political party cannot be stopped by an order of injunction.”

SOURCE: https://punchng.com/bello-emerges-apc-kogi-gov-candidate-bewa-irukera-kick/

The Federal Government, on Thursday 29 August, said the reconstruction of portions of the Lagos-Ibadan Expressway stretching from the end of Berger Bus Stop to Kara Cattle Market, would be completed by the second week of December.

The Director of Highways, South West, Mr Funso Adebiyi, said the target was to complete that critical portion of the road before Christmas when more people would be travelling. “By December 15, we would have worked on the road substantially so that it can be opened again for the Yuletide to avoid traffic jam,” he said.

Adebiyi told journalists during a tour of the road that planned traffic diversion on that portion would begin by September 2. He said palliative work had been done on some portions around the area of diversion to ease traffic for commuters.

He said, “Total reconstruction is ongoing and progressing and we will be doing major diversions while the work is on. We need commuters to be tolerant. We need this inconvenience to get to where we want to be and we need this diversion for us to work due to the high volume of traffic around this portion of the road. Palliative work has been done to ensure smooth movement. Those coming in and out of Lagos would have at least two lanes at every point in time.”

Adebiyi, however, warned motorists against breaking traffic rules such as driving against traffic, saying that violators would be dealt with. He explained that provisions had been made to tow faulty vehicles off the road during the period.

“We will do everything to complete the road within the time frame given but we need cooperation from everyone, including residents of the area. They should tolerate us during the period,” he said.

The Lagos Sector Commander, Federal Road Safety Corps, Mr Hygenius Umeje, said three heavy duty tow vehicles would be provided during the period. “It is a short distance but because the area is critical in terms of traffic, there will be adequate provision of personnel as well,” he said.

According to him, both Lagos and Ogun commands will be on ground to ensure good flow of traffic.

SOURCE: https://punchng.com/lagos-ibadan-road-fg-targets-december-for-berger-kara-completion/

PZ Cussons Nigeria Plc has released its financial results for the business year ended Friday, May 31, 2019.

During the period under review, the company recorded N74.3 billion revenue as against the N80.5 billion recorded in 2018. This represents a 7.7% decline. Profit before tax stood at N1.9 bn for the year as against N2.3 bn recorded last year. This represents a 16% decline. Profit for the year stood at N1.2 bn in 2019 as against N1.9 bn recorded last year. This represents a 40% decrease.

Earnings per share stood at 0.25 in 2019 as against 0.46 in 2018, which represents a 45.7% decrease. Prior to the release of the financial results, the global consumer goods manufacturer, blamed its huge decline in profit on sluggish demand and challenging conditions in its important Nigerian market.

Going by the company’s statement, Nairametrics understands that the loss the company experienced was caused by the underwhelming performance of its Nigerian subsidiary, PZ Cussons Nigeria Plc.

ABOUT THE COMPANY
PZ Cussons Nigeria Plc manufactures and markets a wide range of popular products such as ROBB balm, Imperial Leather, and Morning Fresh, thereby making it an important part of the global company’s operations.

SOURCE: https://nairametrics.com/2019/08/30/full-year-2019-pz-cussons-profit-declines-by-40/

The Lagos state house assembly has set up a committee to investigate the purchase of 820 buses by the administration of Akinwunmi Ambode, former governor of the state. The lawmakers said it is important to investigate the purchase of 820 buses despite non-approval by assembly.

Gbolahan Yishawu, representative of Eti Osa 2 constituency, said at the executive/legislative parley held at Golden Tulip in FESTAC in September 2017, Ambode informed the lawmakers that 5,000 buses would be bought by the state government. The lawmaker said the executive proposed to spend N17 billion to purchase the buses in the 2017 budget, but that this was not approved by the assembly.

“In the 2018 and 2019 budgets, the state government proposed N24 billion and N7 billion respectively, but these were not approved,” he said. “The state government still went ahead to import 820 buses at N7 billion, and out of that, 520 are still awaiting clearance at the ports.”

Yishawu added that the house was worried that 520 buses were still awaiting clearance from the bonded warehouse and the port, waiting to be cleared, and that they were purchased with taxpayers’ money without approval. He asked the house to investigate the purchase of the buses and other issues surrounding it.

“The state government requested waivers for the importation of the buses and it was not granted. The value of the buses were overrated. Some of the buses are still in the ports and they are attracting demurrage,” he said. “N45 billion would be spent on the total purchase of the buses and we need to prevent such an occurrence in the future.”

Commenting on the issue, Mudashiru Obasa, speaker of the assembly, said: “The vehicles are in the ports and they have been there for almost a year. The state will continue to suffer if we allow the buses to stay in the ports. We should be the regulators of transporters, the state should not operate the buses. How much we are giving the buses out should be addressed. We should get the buses to the roads and save the state from further wastage.”

He then set up a committee headed by Fatal Mojeed, member representing Ibeju Lekki 1, to look into the matter and report to the house. The speaker directed the committee to invite the accountant-general of the state, permanent secretary of the ministry of transport, and those involved in the purchase.

The development comes exactly one week after the Economic and Financial Crimes Commission (EFCC) invaded the residence of the former governor in the Epe area of the state. The commission later said the ex-governor was under investigation but Ambode said he had not been informed.

The EFCC had earlier asked a federal high court in Lagos to freeze three bank accounts allegedly linked to the former governor over a N9.9 billion fraud. The accounts are domiciled in First City Monument Bank (FCMB), Access Bank, and Zenith Bank with numbers 5617984012, 0060949275 and 1011691254 respectively.

Ambode denied personal links to the account.

SOURCE: https://www.thecable.ng/breaking-lagos-assembly-begins-probe-of-ambode-over-n45bn-buses

The Oyo State Police Command, on Tuesday, allayed the fears of residents of Ibadan over the alleged presence of a serial killer squad, suspected to be Badoo boys, in the city.

It was gathered that residents of Abatakan, Ojoo, Fatokun, Moniya, Olomowewe and Akingbile, all in the Akinyele Local Government Area of the state, had been living in fear in the last few days. As a consequence, the residents have resorted to returning home early from their daily activities and remain indoors, while advising visitors to call them on the phone before venturing into the areas.

A resident, who spoke on condition of anonymity, said, “People in my area now bolt their doors around 5.30pm; whoever wants to visit must call and be properly identified. Even those, who sell consumables, now ask their customers to call them before they can open their doors.”

About six people have been reportedly killed in three operations in the last one month by hoodlums suspected to be members of the gang in different locations in the affected areas. Apart from the six who lost their lives in strange circumstances, PUNCH Metro learnt that a woman was hospitalised with a very deep cut allegedly sustained after she was attacked by the hoodlums. The victim, according to sources, is in coma as of the time of filing this report.

Reacting to the development, the state Police Public Relations Officer, Olugbenga Fadeyi, said, “I want to appeal to residents not to entertain any fear over this development as the police will apprehend the suspects soonest.

“Residents of the state, including journalists, should not be too quick to compare the operation of these attackers to that of Badoo boys of the Ikorodu, Lagos, experience. We should not engage in anything that will create fear in the hearts of the people. I am saying this because people tend to believe the story and may be running helter-skelter when the case has not actually degenerated to that level.

“Already, the command is clamping down on some suspects; very soon, the police authority will definitely parade them. Again, people should be ready to assist the police with credible information though we have our officers, both uniformed and others in the neighbourhoods. People with credible information should endeavour to call our control room on 07055495413 and 08081768614 from every nook and cranny of the state to report distress situations.”

SOURCE: https://punchng.com/panic-as-suspected-serial-killers-invade-ibadan/

EZ Farming is the latest agricultural technology startup to benefit from a $150,000 seed funding from 500 Startups, a San Francisco-based accelerator after a four-month programme. EZ Farming is a marketplace that enables farmers to fund their businesses through the provision of micro-loans and ease of access to produce buyers across the world.

STARTUP TERMS
Successful startups that participate in the accelerator must exchange a 6% equity for funding, mentorship and hands-on training. Plus, they also charge a $37.5k fee for participating in the 500 Seed Programme. However, the fun side of this funding is that all startups and entrepreneurs from everywhere can apply.

EZ’s success in acquiring this investment came as a result of its first-place finish in a competition hosted by Georgetown African Business Conference earlier in the year.

ABOUT 500 STARTUPS
500 Startups is a global venture capital firm with a network of startup programmes headquartered in Silicon Valley with over $454 million in committed capital across 4 main funds and 15 thematic funds. It is known as the most renowned accelerator programmes in the world and has increasingly opened to African startups in recent years, with Kenya’s CardPlanet – now PayKind – and Egypt’s ElWafeyat making it into Batch 11, and South Africa’s SweepSouth and Ghana’s Kudobuzz making it into Batch 14.

Nigerian startups have been popular in recent programmes, with the likes of Printivo, Aella Credit, Talentbase and Podozi receiving the backing of 500 Startups.

ABOUT EZ FARMING
EZ Farming is a marketplace that connects smallholder farmers to microlenders and produces buyers globally to empower them to scale small farms into commercial sizes and equip with the next generation of farmers. Since launching, EZ Farming has worked with more than 600 microlenders to invest over $600 thousand in more than 120 verified and trusted farmers who are scaling fast to become commercial farmers.

EZ Farming is supported by leading agricultural research institutions, world-renowned agricultural experts and leading investors including 500 Startups in San Francisco, Young African Professionals in Washington DC, International Institute of Tropical Agriculture in Nigeria, Impacthub Lagos and Dr Howarth Bouis, the 2016 World Food Prize Winner.

SOURCE: https://nairametrics.com/2019/08/27/nigerian-agric-tech-startup-ez-farming-clinches-150000-seed-funding/

The National Children’s Hospital in the US has appointed a Nigerian, Dr. Oluyinka Olutoye, as its Surgeon-in-Chief. The hospital, which announced the appointment on its website, said the appointment was effective from August 1. It would be recalled that Olutoye was part of the team that carried out surgery on a baby in-utero in a Texas hospital in 2016.

According to the hospital’s statement, Dr. Olutoye, by his appointment, will lead one of the largest children’s hospital surgery departments in the world. Not only will he be leading 11 surgical departments, Dr. Olutoye will also be responsible for the education of the next generation of leaders in children’s surgery.

He will also be appointed professor and the E. Thomas Boles chair of pediatric surgery at The Ohio State University College of Medicine. Dr. Olutoye will serve as the primary surgical liaison between Nationwide Children’s and the OSU College of Medicine.

“We are tremendously delighted to welcome Dr. Olutoye to Nationwide Children’s Hospital to further elevate the visibility and reputation of one of the best overall children’s surgical programs in the country that, through its clinical care and research, is forging the future of children’s surgery,” said Richard J. Brilli, MD, chief medical officer at Nationwide Children’s.

“Having a world-renowned fetal and pediatric surgeon join our leadership team will further advance Nationwide Children’s commitment to establishing a preeminent fetal surgery program,” Brilli added.

Dr. Olutoye received his medical degree from Obafemi Awolowo University in Ile-Ife, Nigeria, and earned his PhD in anatomy from Virginia Commonwealth University in Richmond, VA. He completed his residency in general surgery at the Medical College of Virginia Hospitals, Virginia Commonwealth University, and his fellowships in pediatric and fetal surgery at The Children’s Hospital of Philadelphia in Philadelphia, PA.

He is certified by the American Board of Surgery in Surgery and Pediatric Surgery. He is a fellow of the American College of Surgeons, the American Academy of Pediatrics and the West African College of Surgeons. Dr. Olutoye is a member of the American Surgical Association, the American Pediatric Surgical Association and past president of the International Fetal Medicine and Surgery Society.

SOURCE: https://punchng.com/nigerian-oluyinka-olutoye-appointed-surgeon-in-chief-at-us-hospital/

Naomi Campbell: 'Africa is very rich in so many ways and has been so untapped'

Written by CNN StaffLagos

Decades after making her name on the most watched runways of Paris and Milan, supermodel Naomi Campbell has decamped for new ground: Lagos, Nigeria. In April, the British supermodel was the most talked about face at the city's Arise Fashion Week, one of Africa's most respected fashion showcases.

For her second season at Arise, Campbell modeled for several brands, including Tiffany Amber and Kenneth Ize, bringing her signature walk and a touch of international glamor to their catwalks. "Africa is very rich in so many ways and has been so untapped for it -- most of all for their people and what they can give. So, this is the time," she said. "Now, we're not asking, we're telling: You have to pay attention to this continent."

Campbell isn't the only one setting her sights on Lagos: Fellow models Liya Kebede and Alton Mason (of Ethiopian and Jamaican-Ghanaian decent respectively), British Vogue editor-in-chief Edward Enninful and former American Vogue editor-at-large André Leon Talley also added international fashion cred to the week's events.

This is good news for local designers like Folake Folarin-Coker, creative director of Tiffany Amber. "I'm not saying African fashion is having a moment. It's not a moment anymore. We have a strong identity," she said. "There is a new type of look that's made in Africa and is made for now and is made for everyone."

SOURCE: https://edition.cnn.com/style/article/naomi-campbell-arise-fashion-week/index.html

Cape Town (CNN Business): When a South African surf company wanted to put African culture on the global surfing map, it knew it needed a distinct African symbol. It chose the name Mami Wata or "Mother Ocean," a mermaid-like spirit from West African folklore with long, flowing hair who followers believe can charm snakes.

The Cape Town brand designs and produces surf wear, surfboards and accessories. Launched in 2017, it aims to move perceptions of surf culture away from western stereotypes and towards "the power of African surf."

Surfing history has been told through the lens of Australian brands and American brands, which is largely a blond-haired, blue-eyed story, whereas actually there's a lot of people that story isn't relevant for," Mami Wata's co-founder Nick Dutton said.
The company is trying to change that by telling a different story.

INSPIRED BY AFRICA
"Mami Wata is the sea spirit," Dutton explained. "People who believe in her believe if you go into the ocean and she takes you to be her lover and you survive, you'll come back and be better looking and more successful. That story of transformation and the impact and power of nature for us was very powerful," he continued. "We feel it captures the story of African surf."

Mami Wata hopes to represent the growing diversity of African surfing by incorporating African patterns and African creators.
"Our designs are inspired by Africa... stories of African adventure," said Dutton.

The continent, and South Africa in particular, is a rapidly growing hub for surfing with thousands of miles of coastline and several popular beaches. And Mami Wata wants to help ensure that the surf scene reflects everyone who's a part of it.
"One of the biggest things that surfing is changing is when most people go to the beach now, they will see somebody like themselves surfing," Dutton added.

The company develops and manufactures all its products locally, using sustainable materials. "Our mantra is where we can we'll use African materials, but critically for us we manufacture everything here," said Dutton. As well as creating jobs directly, Mami Wata hopes to attract surfers from around the world to South Africa. "We've got a firm belief in the role that surfing can play in the development of local economies in Africa," said Dutton. "Africa is the final frontier in terms of undiscovered surf."

A BIGGER IMPACT
Mami Wata is also using surfing to help improve South African society. The company supports initiatives such as Waves for Change, a surf therapy organization that helps disadvantaged communities and vulnerable children. "Mami Wata and Waves for Change, it's a great combination. The brand itself, it really drives surfing in Africa," said Apish Thsethsa, a surfer who works with both organizations.

"We teach young people, getting them to know how to cope with stress using surfing," Thsethsa said. The surf company is hoping its activities will help produce the next surfing superstars.

"It's getting the kids off the streets," said Hugh Thompson, who shapes Mami Wata's surf boards by hand. "It's including them in a lifestyle of note... some of the best surfers in the world are South Africans and these South African kids on their way up are going to make their mark on the world [of] surfing," he added.

SOURCE: https://edition.cnn.com/2019/08/26/business/mami-wata-surfing-intl/index.html

Senator Shehu Sani has said the 2023 presidency may elude the South if the South-East and South-West clamouring for it are not united. Sani said the two zones must unite and decide on one candidate for the election. The Peoples Redemption Party chief, who represented Kaduna Central in the Senate from 2015 to 2019, spoke in Abuja on Saturday at an interactive session organised by the Correspondents Chapel of the Nigeria Union of Journalists, FCT Council.

Sani said the ruling class was unyielding to the idea of rotational presidency and that it would take only a united South to win the 2023 presidential poll.

He said, “It will be unfair for other sections of the country if one section uses its topographical or demographic advantage to hold onto power, knowing full well that it was not the topography or demographic advantage that delivered them power. Rotation of power is what I prescribe and stand for, whether that power goes to the South-East or South-West, it is dependent on the people of the South.

“What I will say is that there is a possibility of producing a northern as President in 2023 if the South-East and the South-West remain divided in their resolve on the governance of the country. It is this division that will be exploited by those who are proposing the issue of competence.”

Sani said the direction of power did not depend on individuals’ views but that it would be decided by the political blocs contending for the presidency in 2023. He added, “If power moves to the South-East, it will be the final defeat of secessionists and also a formal end to the Nigerian civil war.”

The former All Progressives Congress chief said he would continue to advocate that those in power should respect the principles of rotational power. He warned that if the South-East and the South-West failed to heed his warning, they would lose out on the 2023 presidency.

Sani said, “Also, if one major party supports the rotation of power and another refuses to support, there will still be trouble. So, realising the respect for rotation of power will be dependent on three factors. There will be the common resolve of the people of the South that power should move to the South. Secondly, the common resolve of the South-East and South-West that this is where it will go to and the third is that the major party must accept this as a reality.’

“These three things are inevitable and one of them that is not considered will still end up with a northern presidency in 2023.”

He said his proposal was for peace and unity in the country.

SOURCE: https://punchng.com/igbo-yoruba-may-lose-presidency-in-2023-shehu-sani-2/

A gridlock at the Mowe end of Lagos-Ibadan Expressway on Saturday left hundreds of motorists and commuters stranded. The traffic jam resulted from a petrol tanker that fell in front of NIPCO Filling Station, Mowe.

The gridlock was worsened by the ongoing road construction in the area, with many commuters, especially those travelling out of Lagos spending several hours in traffic. The tanker, which fell around 3pm and spilled its content, was cleared around 8pm. SUNDAY PUNCH learnt that some miscreants flooded the road to scoop fuel as men of the Federal Road Safety Corps blocked the expressway from and to Ibadan on both sides for the trans-loading of the fuel.

A commuter, Gbenga Adelaja, said he left Ojodu-Berger around 4pm for Ibadan, Oyo State, to spend the weekend with his family but got trapped in the gridlock, adding that he terminated the journey after spending about five hours on the spot.

He said, “I work at a company in Ikeja and because of the volume of work in the office, I have not been able to see my family in the last two weeks. I boarded a bus to Ibadan from Ojodu around 4pm and met the traffic at Mowe. This is 9pm and the tanker has yet to be removed. I am already tired. I can’t continue with the journey again,” Adelaja told our correspondent on the telephone from the scene.

A motorist, Samuel Davies, said the traffic had extended beyond Orimerunmu, some distance from Mowe, as of 7.45 pm. “I had to turn back to Lagos. I will pass the night at a friend’s house. I spent four hours expecting the traffic to ease out. Commuters inside commercial bus drivers disembarked after waiting for hours. Many of them resort to trekking,” Davies, a resident of Mowe, said.

The FRSC Sector Commander in Ogun State, Clement Oladele, said the tanker was removed around 7pm and normalcy restored.

SOURCE: https://punchng.com/hundreds-stranded-as-fallen-tanker-grounds-lagos-ibadan-expressway/

Workers, under the aegis of Senior Staff Association of Statutory Corporations and Government Owned Companies, have vowed to resist retrenchment of workers at the Nigerian Postal Service during the execution of a planned reform at the agency. The Federal Government intends to overhaul NIPOST in a bid to reposition the country’s postal and courier system for better performance.

Former Communications Minister, Adebayo Shittu, had disclosed of the plan to unbundle the agency into six different establishments, which would comprise a microfinance bank, a property and developing company, a transport and logistics company, an e-commerce company, an e-government services company as well as a digital services firm.

But feelers at NIPOST headquarters in Abuja indicated on Friday that there were fears among workers of the agency that the reform could lead to job losses. The labour union, however, said it was ready for a showdown with the government should it retrench workers of the agency in the name of reform.

The General Secretary of the SSASCGOC, Mr Ayo Olorunfemi, in an interview with our correspondent, said the government had at previous meetings with the labour said the reform would not involve job losses. But he admitted that the labour union could not trust the government to keep to its promise.

Olorunfemi said, “When they came up with the idea of unbundling or restructuring or whatever they called it, they said more jobs will be generated though the initiative. If government changes this approach of employing more people and decides to sack, we will also engage them by changing our strategy. When we discover that their sincerity is in doubt, we will change our strategy accordingly.”

He however stressed that the union was not opposed to reforms, as long as they would achieve the expected results. Olorunfemi added that NIPOST workers were prepared to learn new skills in order to properly fit into the expected new arrangement.

“If there will be requirements for new skills, which we know will certainly occur, we will also position our members to re-skill. Whatever technology you are bringing, it is just for them to learn that technology in order to measure up. We don’t have any problem with any form of reforms they want to implement at NIPOST as long as it is in line with our understanding that the reforms will increase the staff strength, rather than lead to job losses,” the SSASCGOC scribe added.

Describing NIPOST as a ‘sleeping giant’, Olorunfemi insisted that the proposed reform should rejuvenate the organisation.

SOURCE: https://punchng.com/labour-vows-to-resist-retrenchment-at-nipost/

Men of the Imo State Police Command have arrested a woman, Chinasa Ukaonu, for selling her day-old baby for N500,000. Also arrested were two nurses — Dorothy Esomonu and Catherine Eke, who allegedly assisted the woman to trade her child.

The police spokesperson in the state, Orlando Ikeokwu, told our correspondent that the buyer, Chioma Amadi, had been nabbed. He said the arrest of the suspects assisted the police in rescuing the child.

Ikeokwu, who described the act as absurd and irritating, disclosed that the state Commissioner of Police, Rabiu Ladodo, had instructed the investigating team to prosecute the suspects at the conclusion of the investigation.

SOURCE: https://punchng.com/i-sold-my-day-old-baby-for-n500000-imo-woman-2/

(CNN)In March 2016, a man claiming to be a US Army captain stationed in Syria reached out to a Japanese woman on an international site for digital pen pals. Within weeks, their relationship grew into an internet romance with the man sending daily emails in English that she translated via Google. The man who called himself Terry Garcia asked for money -- lots of it -- from the woman identified as FK in federal court documents. Over 10 months, she sent him a total of $200,000 that she borrowed from friends, her ex-husband and other relatives to make her love interest happy.

But in reality, Garcia did not exist. It was all an international online scam ran by two Nigerian men in the Los Angeles area with the help of associates in their home country and other nations, federal officials say. And Thursday 22Aug19, US prosecutors charged 80 people -- mostly Nigerians -- in the widespread conspiracy that defrauded at least $6 million from businesses and vulnerable elderly women. Of those, 17 people have been arrested in the US so far and federal investigators are trying to track down the rest in Nigeria and other nations.

"We believe this is one of the largest cases of its kind in US history," US Attorney Nick Hanna said.

A PLAN TO SMUGGLE DIAMONDS
The whirlwind online romance between FK and Garcia was all conducted on a Yahoo email address with no phone calls. Garcia told FK he wasn't allowed to use a phone in Syria, according to federal authorities. Demands for money started after he told her he'd found a bag of diamonds in Syria and needed her help to smuggle it out of the war-torn nation. He said he was injured and could not do it himself -- and introduced her to associates he said would help facilitate the transfer, court documents allege. One said he was a Red Cross diplomat who could get the diamonds shipped to FK, court documents show.

Shortly after, another man who claimed to work for a shipping company asked FK for money to ensure the package was not inspected at customs. Requests for additional money kept coming, with the fraudsters citing different reasons each time on why the package was stuck at customs.

"FK estimates that she made 35 to 40 payments over the 10 months that she had a relationship with Garcia. During that time, the fraudster(s) emailed her as many as 10 to 15 times each day, and Garcia was asking her to make the payments, so she kept paying to accounts in Turkey, the UK and the US," the federal criminal complaint says. The loss of money has left FK angry and depressed, authorities said. "She began crying when discussing the way that these losses have affected her," the criminal complaint says.

17 ARRESTED AND DOZENS ON THE RUN
The scams were not just limited to romance, Hanna said. They included business schemes where fraudsters hack escrow company email systems, impersonate employees and direct payments that funnel money back to themselves.
"In some cases, the victims thought they were communicating with US servicemen stationed overseas, when in fact, they were emailing with con men," Hanna said. "Some of the victims in this case lost hundreds of thousands of dollars in this way."

Of the 80 people charged, federal authorities arrested 14 people mostly in Los Angeles, the local US Attorney's Office said Thursday. At least three other defendants were already in custody. The remaining suspects live in other countries, mainly in Nigeria, and investigators said they'll work with the respective governments to extradite them.

HOW THE SCAM WORKED
Investigators detailed an intricate scam traced to two key suspects who oversaw the fraudulent transfer of at least $6 million and the attempted theft of an additional $40 million. Once co-conspirators based in Nigeria, the United States and other countries persuaded victims to send money under false pretenses, the two Nigerian men who lived in Southern California coordinated the receipt of funds, the indictment says.

The two men provided bank and money-service accounts that received funds obtained from victims and also ran the extensive money-laundering network, the complaint alleges. The two men were arrested Thursday. All defendants will face charges of conspiracy to commit fraud, conspiracy to launder money, and aggravated identity theft. Some also will face fraud and money laundering charges.

Paul Delacourt of the FBI's Los Angeles warned people to be careful as romance scams escalate nationwide. The Federal Trade Commission has said scams that prey on vulnerable people cost Americans more money than any other fraud reported to the agency last year. More than 21,000 people were conned into sending $143 million in such schemes in 2018 alone, it reported.

"Billions of dollars are lost annually, and we urge citizens to be aware of these sophisticated financial schemes to protect themselves or their businesses from becoming unsuspecting victims," Delacourt said.

SOURCE: https://edition.cnn.com/2019/08/23/us/nigeria-romance-scam-arrests/index.html

Being a house wife is perhaps one of the most difficult ‘jobs’ on earth especially for former working women who now become solely dependent on their husbands for every financial need. It is more ideal to be a stay-at-home mum who makes good money. By the end of this article, we should know the jobs/businesses to do to make money as a stay-at-home mum.

STAY-AT-HOME MUM STATUS
There are a number of reasons why some women decide to sacrifice their professional careers and become stay-at-home mums; usually, taking up the responsibility of being primary caregiver to the kids is a foremost reason. In some cases, it could be for health or psychological reasons, while at other times, it could be that your job search has yielded nothing at that. Yet again, your hubby may be old school and not want you slaving under anyone and coming home at ungodly hours.

What then do you do as a graduate or a professional? What jobs or businesses are available that would give financial satisfaction? The answer is one and the same: you have to engage in something you are interested in and have passion for.

1. MAKING AND SELLING PAP
This product is gotten from different types of corn and millet. It has a sour taste that makes people love drinking it. It is usually combined with beans, akara or moin-moin during meals.

Start-up Capital required: N30,000
Target customers: These days pap is mixed for different types of people: Children with special needs and development delay have pap made with guinea corn , millet, crayfish, etc. which can be easily consumed by these babies. People who are particular about hygiene are also potential customers, together with Nigerians in diaspora who miss it; these people would provide a huge market as they are willing to pay a lot to get pap. All one needs to do is supply products to local supermarkets and make proper arrangements to export the pap anywhere around the world.

Most important success factor of this business is proper packaging; ‘funkyfy’ your business and Nigerians would go crazy about it.

Possible Risk: Pap is easy to find in the market as many women sell it. It also goes bad if not prepared properly and can all go to waste without being sold in the first place.

Likely Profit: Profit margin is as high as N40,000 monthly for a start.
Payback period: One is likely to get their capital within a month barring any issues and given the right market.

2. MAKING OF HEALTH FOODS AND MEAL PREP
Nigeria is currently agog with weight loss and this applies to both men and women. A considerable number of women are making money from the comfort of their homes packaging health fruits, vegetables, delicacies, meal planning, diet food, coconut oil, etc. Most career women have no time to cook or eat healthy, so you would get a lot of customers by meal prepping for them and sending in fresh food to last them for the week.

Start-up Capital required: N100,000
Target customers: Women who are overweight, health enthusiasts and career men and women.

Possible Risks: Lack of creativity on your part and lack of interest of clients in your food, storage of food, delivery problems, hygiene and excessive expenditure.

Likely Profit: Food is still cheap and there is a lot of gain. Let’s say you have 10 customers who pay you about N25k weekly, it will total N250,000. Even if you use 100k for cooking and transportation of the food to your different customers per week, you’d have profit of N150,000 which would be N600,000 monthly as profit.

Payback period: within a duration of 3 months barring all unforeseen circumstances.

3. MAKING OF BEADS AND WIRE WORK
It is a business that is becoming popular in most major cities in Nigeria, and the market is still massively huge. You can buy few of the materials needed for the business, and start producing jewelry of different styles for commercial purposes. It is a business that picks up slowly but when people start knowing the quality of work you produce, more customers will patronize you.

Start-up Capital required: N15,000.
Target customers: Women of all ages.
Possible Risk: Lack of creativity and zero marketing skills.

Likely Profit: The business is so profitable, that with just N1,500 worth of materials used in producing an ornament, a profit of N3000 to N4000 can be achieved depending on the type of design produced. On average, more than three pieces can be completed in a day depending on how complex the work is.

Payback period: Within a duration of 1 month barring unforeseen circumstances.

4. FASHION AND DESIGN
Starting a fashion and design business is highly recommended. If you have a passion for creating brand new designs and you are able to turn ordinary fabrics into world class designer outfits, then this business is definitely for you.

Start-up Capital required: N80,000
Target customers: Men and women of all ages
Possible Risk: Getting clients at the onset could be tough as most people will find it difficult abandoning their familiar designers for a new one. Lack of creativity, poor marketing skills, dissatisfied customers are other risks.

Likely Profit: Your profit is the fee you charge and this depends on the type of design chosen, materials used, and status of the client.
Payback period: Within a duration of six months.

5. FREELANCE WRITING
This is one way of making money that is unending, exciting and stable. If you have the time and also a flair for writing, all you need are clients and opportunity. Freelance writing is a new major source of income if done the right way. You can do this via blog writing; the thing about blogging though is to get the right niche. You could be a freelance writer for companies and other blog owners. Being a research writer can get way more than blogging but to write academic submissions, you have to be ready to sit down, research, read and do serious work.

Start-up Capital required: N60,000
Target customers– Companies, blog owners, men, women, students.

Possible Risk: Blogging once in two months won’t get you anywhere. If it is your means to get money, you have to put in a lot of effort into your blogging. Almost everyone blogs but NOT everyone gets money from it. You also shouldn’t expect to start making money from day one; it is a gold mine that you have to cultivate, to reap the fruits eventually. Give it 6 months and you start seeing results .Get writing jobs as a freelance writer takes chance and luck, you need a lot of patience as there are many other writers.

Likely Profit: Writing product reviews, putting up ads on your sites and AdSense, as well as other advert platforms can aid you in earning money in dollars which could be up to N400,000 for a small-time up and coming blogger. As a freelance writer for companies and other blog owners, having these writing gigs from 5-6 places a month could get you over N200,000 or more monthly. For a seasoned research writer, you could make well over 1Million Naira monthly. For a starter though, making 60,000naira is a big win and you’d be sure to grow within six months.

Payback period: A period of 8 months.

IN CONCLUSION
Being a stay-at-home mum need not mean you have to be financially dependent on your spouse. With the execution of any of these lucrative business ideas, you would be on your way to being a work-from-home mum as well and while it is rewarding to watch your children grow under your care, your feeling of self-worth also gets a boost.

SOURCE (abridged): https://nairametrics.com/2019/08/21/top-business-ideas-housewives-cost-less-n100k-start/

American agency, the Federal Bureau of Investigation (FBI), has revealed the names and aliases of 78 Nigerian-born fraudsters who were arrested during a bust of an 80-man Internet crime syndicate across the United States.

See the names, as published by the American domestic intelligence and security service.

1. Valentine Iro (aka Iro Enterprises; aka Valentine Obinna Iro; aka Obinna Iro ; aka Obinna Nassa)
2. Chukwudi Chri Stogunus Igbokwe (aka Christogunus C. Igbokwe; aka Chris Kudon; aka Atete; aka Still Kudon)
3. Jerry Elo Ikogho (aka J Man)
4. Izuchukwu Kingsley Umejesi (aka Kingsley Umejesi; aka Armeni an Man; aka Kingsley LA; aka Izuking; aka Aku)
5. Adegoke Moses Ogungbe (aka P & P Motors; aka Pp)
6. Albert Lewis Cathey (aka Alb; aka Abert Jag; aka Al)
7. Tityaye Marina Mansbangura (aka “Tityaye Igbokwe; aka Marina Mansour; aka Marina Mansaray; aka Marina Tityaye Mans Bangura)
8. Chukwudi Collins Ajaeze (aka “Thank You Jesus”)
9. Ekene Augustine Ekechukwu (aka “Ogedi Power,” aka “Power”)
10. Chuks Eroha (aka “Chuks Nassa Iro,” aka “Nassa,” aka “Prince Chuddy,” aka “Nurse Chuddy”)
11. Collins Nnaemeka Ojimba (aka “Collins Emeka Ojimba,” aka “Ojimba Collins,” aka “Charly Africa”)
12. Uchenna Ochiagha (aka “Urch Agu,” aka “Advanced Mega Plus Ltd”)
13. Nnamdi Theojoseph Duru (aka “Duru Theo Joseph Nnamdi, ” aka “Williams High School,” aka “Ifytyns”)
14. Ericson Uche Oforka (aka “Oforka,” aka “Eric Oforka”)
15. Mark Ifeanyi Chukwuocha (aka “Mark Iheanyi Chukwuocha,” aka “Chukwu Mark,” aka Markife”)
16. Augustine Nnamdi (aka “Nnamdi Augustine,” aka “Jazz”)
17. Chiemezie Christopher Chilaka (aka “Fanta”)
18. Charles Ohajimkpo (aka “Giggs,” aka “Ryan Giggs,” aka “Charles”)
19. Stanley Ugochukwu Uche (aka “Ugo Law,” aka “Uche Stanley,” aka “He is risen.Happy Easter!”)
20. Chika Augustine Odionyenma (aka “Tony Augustin Odionyenma,” aka “Chika Tony,” aka “CTA Finance Source Intl”)
21. Paschal Chima Ogbonna (aka “Chima,” aka “Paschal”)
22. Samuel Nnamdi Onwuasoanya (aka “Sammy Lee Nnamdi,” aka “Onwuasoanya Samuel Nnamdi,” aka “Enugu Ogo”)
23. Macwilliam Chinonso Chukwuocha (aka “ChiBo”)
24. Emmanuel Onyeka Uzoka (aka “Emmanuel Mansion,” aka “Mansion,” aka “Son of God,” aka “Ezirim Uzoma”)
25. Joshua Aniefiok Awak (aka “Joe Awk,” aka “Kwee Tin Law”)
26. George Ugochukwu Egwumba (aka “George Ugo,” aka “Ugo Aunty Scholar”)
27. Uchechukwu Solomon Ezirim (aka “Uche Nwanne,” aka “Uche Ezirim”)
28. Augustine Ifeanyi Okafor (aka “Zero,” aka “St. Austine,” aka “Austine,” aka “Ifeanyichukwu Okafor,” aka “Okay Sam Mal”)
29. Leslie N. Mba (aka “Mystical,” aka “Nwachinemere Leslie”)
30. Ogochukwu Innocent Ikewesi (aka “Ogoo UK,” aka “Innocent Ikewesi”)
31. Emmanuel Uzoma Ogandu (aka “Nwachinaemere,” aka “Uzoma”)
32. Amarachukwu Harley Anyanwu (aka “God is God,” aka “War B”)
33. Bright Ifeanyi Azubuike (aka “Bright Bauer Azubuike,” aka “Ifeanyi Jnr”)
34. Emeka Moses Nwachukwu (aka “All Man,” aka “Omalitoto,” FNU LNU, aka “Donatus Izunwanne,” aka “Izunwanne Donatus Chibuikem,” aka “Deworlddonmax”)
35. Chinwendu Kenneth Osuji (aka “Father”)
36. Eusebius Ugochukwu Onyeka (aka “Ugo UK,” aka “sly19 sly”)
37. Chidi Anunobi (aka “Anunobi Chidi,” aka “Chidioo”)
38. Anthony Nwabunwanne Okolo (aka “Eric West,” aka “Erci West,” aka “Code”)
39. Obinna Christian Onuwa (aka “Papa Chukwuezugo,” aka “Obinna Onuwa Abala,” aka “Obyno Abala”)
40. Chijioke Chukwuma Isamade (aka “Mr CJ,” aka “CJ”)
41. Linus Nnamdi Madufor (aka “Madufor Nnamdi”)
42. Chrysaugonus Nnebedum (aka “Cris”)
43. Ugochukwu Okereke (aka “Blade,” aka “Kingsly Cris,” aka “Okereke Ugochukwu”)
44. Fidel Leon Odimara (aka “Fiedel Odimara,” aka “Ndaa,” aka “Dee Dutchman”)
45. Kingsley Chinedu Onudorogu (aka “OBJ”)
46. Dessi Nzenwah (aka “Desmond Sage,” aka “Des Nzenwa,” aka “Saga Lounge”)
47. Chimaroke Obasi (aka “Chima Russia”)
48. James Chigozie Agube (aka “Smart,” aka “Smart Agube,” aka “Smart Chigozie Agube”)
49. Chimaobi Uzozie Okorie (aka “Omaobi,” aka “Mobilit,)”
50. Ogochukwu Ohiri (aka “Ogomegbulam Ohiri,” aka “Ologbo”)
51. Kennedy Chibueze Ugwu (aka “Kennedy David”)
52. Ifeanyichukwu Oluwadamilare
53. Agwuegbo (aka “B��$$ IFF¥”)
54. Victor Ifeanyi Chukwu (aka “Ifeannyi Soccer,” aka “Vic Chux”)
55. Chidi Emmanuel Megwa (aka “Cantr,” aka “Canta Jr.”)
56. Princewill Arinze Duru (aka “Arnzi Prince Will,” aka “Arinze”)
57. Desmond Iwu (aka “Desmond Chigozie Iwu,” aka “Lalaw,” aka “Odo Desmond”)
58. Onyeka Vincent Chika (aka “Chyco,” aka “Chika Ejima,” aka “Vincent Chika Onyeka”)
59. Ifeanyi Kingsley Mezienwa (aka “Ifeanyi Ali,” aka “Ifeanyichukwu Mezienwa”)
60. Victor Uchenna Aguh (aka “Orch Sod,” aka “Uche SP,” aka “Rich Homie Urch”)
61. Kevin Amarachi Eshimbu, aka “Humble,” aka “Humble Amarachukwu,” aka “Dato Humble,”
62. Vitalis Kelechi Anozie, aka “Kelechi Vitalis Anozie,” aka “Kelechi Anozieh,” aka “Pastor Kel Anozie,” aka “Pastor Kc,” aka “Choice”
63. Williams Obiora Agunwa, aka “Don Williams”
64. George Chimezie Dike, aka “Chimekros,” aka “Slim Dad…No…1”
65. Munachiso Kyrian Ukachukwu, aka “Muna”
66. Nwannebuike Osmund, aka “Osmund Nwannebuike,” aka “Olivite,” aka “Nikky Bro.”
67. Chidiebere Franklin Nwangwu, aka “Frank Chidi,” aka “Franklin Nwangwu,” aka “Agogo”
68. Damian Uchechukwu Ajah, aka “Uche Ajah,” aka “Ajah Damian Uchechukwu,” aka “Uchechukwu Demian Ajah”
69. Emeka P. Ejiofor, aka “Ejiofor Emeka”
70. Lawrence Chukwuma Ubasineke, aka “Ubasineke Chuks,” aka “Chukwuma Ubasineke”
71. Chinedu Bright Ibeto, aka “Doggy,” aka “Doggy Lucino”
72. Valentine Amarachi Nwanegwo, aka “Satis,” aka “Satis Amarachi Satis”
73. Emmanuel Chidiebere Dike, aka “Emmanet”
74. Jeremiah Utieyin Eki, aka “Uti”
75. Chinaka Davidson Iwuoha, aka “Tmrw Afrika Will Wake Up,” aka “Cookie,” aka “All Africa Media Network”
76. Chima Darlington Duru, aka “Kajad,” aka “Kajad Jesus”
77. Ikenna Christian Ihejiureme, aka “Piper,” aka “Am Happy!”
78. Obi Onyedika Madekwe, aka “Odu Investment”

SOURCE: https://punchng.com/names-aliases-of-78-nigerian-born-yahoo-boys-nabbed-by-fbi/

In 2001, a certain Nigerian of Yoruba descent was named chief of the African Division at Voice of America (VOA) Hausa Service. Upon the appointment, there were protests that he could not be made head of the Hausa service, seeing he was a Yoruba man. VOA did not budge, for their pick was a great guerilla journalist, who had stared the bullet in the face in the line of duty. This is Sunday Dare the new minister of youth and sports.

Solomon Dalung, ex-minister of sports who hails from Plateau state, has been replaced by Sunday Dare, who also happens to be another Jos man. While Dare may have his origin in Oyo state, you can find a great portion of his roots in Jos, where he gave many years of his life.

First, he had his secondary school education at Baptist High School in Jos from 1978 to 1983. He would go on to bag his master degree in Law and Diplomacy from the University of Jos — the same institution where Dalung got his LLB. Dare would later work in Jos from 1993 to 1995, as a journalist with the junta-defiant new medium, The News.

SISTER KILLED IN JOS
Writing about his experience as a journalist in Jos, during the military era, Dare said: “While in Jos, I knew little peace. This was between 1993 and 1995. I was, for the most part, incognito. Constantly on the move, if I told anyone I was headed downtown in Jos, I made straight for the uptown of the city”.

“If I told even some of my colleagues I was headed out of town, I remained and operated underground. Like my colleagues in The News, I relied on my instincts. I disappeared immediately from any place as soon as I felt danger. I used different offices and methods to send in my stories. Sometimes, through human courier or fax, or simply dictated it on the phone. If the story was an exclusive or too hot, my editors asked me to travel to Lagos for debriefing. Then I sat down to weave the cover story with the help of other journalists on the team.”

In the democratic era, Dare served as head of VOA Hausa service in Jos from 2001 to 2009. In 2008, his sister was killed in the Jos riots of that year. It was a painful experience for the journalist, who can adequately be called a Jos man.

OUTSTANDING JOURNO WHO PUBLISHED ABUJA’S FIRST EVENING PAPER
Many people in 2018/2019 know Dare as executive commissioner (stakeholder management) of the Nigerian Communications Commission (NCC). But before any of that, Dare was an outstanding journalist to his core.

He was a reporter/columnist with The Nation magazine in New York and a production editor/writer with the European-funded Fourth Estate magazine. Before, he served as general editor of The News and Tempo, two of Nigeria’s independent weekly news magazines based in Lagos.

In his book, Guerilla Journalism, Dare chronicles the experience of the “mobile newsroom”, and the true essence of the title “editor-at-large”. He was ahead of the times, as he served as pioneer online editor at The News long before online journalism became a thing. He would go on to publish Abuja’s first evening newspaper. Evening newspapers would later go on to be a norm.

As head of VOA Hausa Service, Dare was responsible for the work of 11 international radio broadcast journalists based in Washington DC alongside, 24 reporters/stringers — including sports reporters — based in West Africa. He ensured broadcast to more than 21 million listeners in West Africa.

ABU-HARVARD-OXFORD GRADUATE
Asides The News and Tempo, Dare is also a graduate of many other schools. He was a Freedom Forum Fellow and Visiting Scholar, School of Journalism, at New York University. He also attended Harvard University, via the Harvard Nieman Journalism Fellowship between 2000 and 2001, where he enrolled for Media and Public Policy studies.

In 2011 Dare won the Reuters Foundation Journalism Research Fellowship to study at University of Oxford, United Kingdom, where he contributed to the body of knowledge in the field of media, and researched “New Media and Citizen Journalism in Africa – A Case Study: Using New Media Tools and Citizen Journalism to Investigate Corruption in Nigeria.”

The Knight International Journalism fellow holds a BSc in International Studies from Ahmadu Bello University.

BOLA TINUBU’S RIGHT-HAND MAN
Bola Tinubu is many things to many people, but there seems a consensus on his ability to headhunt the best in any field. One of such is Sunday Dare. He was former media adviser and chief of staff to Bola Ahmed Tinubu, a national leader of the All Progressives Congress (APC).

In 2015, when Buhari named his ministers, there were reports in the media that Tinubu was sidelined, as President Muhammadu Buhari did not consider any of his nominees. Kemi Adeosun (Ogun) was nominated by Ibikunle Amosun; Claudius Daramola (Ondo) and Isaac Adewole (Osun) were nominated by Bisi Akande; Tunde Fashola (Lagos) and Kayode Fayemi (Ekiti) were listed by Buhari himself. This strained the Buhari-Tinubu relationship.

By 2016, when the president was seeking to repair this relationship, he appointed Dare as executive commissioner of the NCC and Wale Edun as chairman of the Board of Trustees of the Ogoni Trust Fund. Both men are Tinubu’s allies. Prior to the guber election which saw Seyi Makinde emerge governor in Oyo state, there were a few billboards in Ibadan pushing that Dare becomes next governor of the state. But this was not followed up by Dare.

Sunday Dare, also fondly called Jebusite, is seen as one of the ministers appointed as a result of the relationship with Tinubu, but whose qualification cannot be questioned.

ROUND PEG ROUND HOLE?
In 2009, he became senior special assistant (media)/chief of staff to the minister of information and communications. During this period, Dare was assigned to oversee aspects of the operations of the Nigeria Communication Commission (NCC) and brief the minister on issues, challenges and opportunities in Nigeria’s emerging telecommunications market.

He was also a member of the minister’s advisory team on the sale of the 2.3GHz spectrum frequency. It was at this time that he learned the ropes on dealings at NCC. Hence, when he was appointed in 2016 as a commissioner at NCC, he was moving back to familiar terrain.

When he was nominated minister, he was expected to be the minister of communications, seeing he was at NCC, and was to replace his statesman, Adebayo Shittu, who served in that position. But contrary to expectations, Dare, with more than twenty-five years of experience as a journalist, was appointed to replace Solomon Dalung as the 35th minister in charge of youth and sports — since Joseph Modupe Johnson in 1960.

PROMISES TOTAL RE-ORIENTATION OF THE MINISTRY
Prior to his appointment, Dare, the 9th person from the southwest to occupy the position of Sports Minister, held no administrative position in sports. However, no one would question the choice of the 53-year-old in terms of his exemplary educational background as well as his involvement and achievements in the media sector.

“I think we are going to see a total reorientation,” Dare said about his new job. “We will settle down, we will have conversations when necessary, some will be crucial and some will be confrontational but eventually we will come up with plans that will work for our country, work for our youth and works for our sports development.

“First and foremost the ministry stands on two legs. Youth development and sports development. We are going to have necessary crucial conversations and engagement with all stakeholders when necessary to be able to empower not just the youths but also to develop sports to bring it at par with the global 21st-century sport. So, we go to work from today and it can be done because we have the resources, we have the personnel and we have the expertise.”

Dare is a well-decorated professional with many awards and recognition. He was identified as one of the 50 Leading Nigerians in North America; won Voice of America Meritorious Honor Award; and a member of the International Committee to Protect Journalists Citation in New York.

He is a lover of sports and an ambassador of Crown Football Club of Ogbomosho in Oyo state.

MINISTERS OF SPORTS SINCE INDEPENDENCE
Joseph Modupe Johnson (1960-1964)
Hon. J.C. Obande (1965-1971)
Henry Adefope (1971-1975)
Olufemi Olutoye (1975-1977)
Dan Isokrari (1977-1978)
Paulinus Amadike (1979 -1981)
Adebisi Ogedengbe (1982-1983)
Buba Ahmed (1983)
Bennett Birabi (1983)
Emeka Omeruah (1984-1985)
Ahmed Abdullahi (1985-1986)
Bayo Lawal (1986-1988)
Alabo Graham Douglas (1989-1990)
Anthony Ikazoboh (1990-1991)
Yohana Kure 1991-1992)
Alex Akinyele (1992 -1993)
Sylvanus Akinwunmi (1993 -1994)
Shola Rhodes (1994- 1995)
Jim Nwobodo (1995-1997)
Emeka Omeruah (1997 –1999)
Damishi Sango (1999-2001)
Ishaya Mark Aku (2001-2002)
Stephen Akiga (2002-2003)
Musa Mohammed (2003-2005)
Saidu Sambawa (2005-2006)
Bala Bawa Ka’oje (2006 -2007)
Abdurahaman Gimba (2007 -2008)
Sani Ndanusa (2008-2010)
Ibrahim Isa Bio (2010)
Taoheed Adedoja (2010 – 2011)
Yusuf Suleiman (2011)
Bolaji Abdulahi (2011-2014)
Tamuno Danagogo (2014 – 2015)
Solomon Dalung (2015 – 2019)
Sunday Dare (2019 - )

SOURCE (abridged): https://www.thecable.ng/close-up-tinubus-ex-chief-staff-investigative-journalist-sunday-dare-35th-minister-youth-sports

Investors on the Nigerian Stock Exchange (NSE) on Wednesday reacted positively to the inauguration and assignment of ministers to various portfolios by President Muhammadu Buhari. The All-Share Index rallied by 294.32 points to close at 27,352.94, against 27,058.62 on Tuesday. Market capitalisation was also up by N120 billion to close at N13.3 trillion, this is the biggest gain recorded in two months.

The market recorded 23 gainers and 16 losers led by Nestle Nigeria, MTN Nigeria, Ecobank Trans International (ETI), Dangote Sugar and CI Leasing. Total volume of shares traded grew by 73.6% with exchange of 363.97 million shares worth N4.52 billion traded in 3,451 deals. This was in contrast with a total of 209.62 mn shares valued N3.24 bn exchanged in 3,743 deals on Tuesday.

Banking equities drove the activity chart, with United Bank for Africa (UBA) emerging the most active with 64.73 mn shares worth N381.92 mn.

The bourse had previously been on a bearish trend since January, with few days of upward movement.

SOURCE: https://www.thecable.ng/nse-smiles-on-ministerial-inauguration-records-biggest-gain-in-two-months

Two companies formerly trading their shares on the floor of the Nigerian Stock Exchange (NSE) have finally been delisted from the platform. The two affected firms are Skye Bank Plc and Fortis Microfinance Bank Plc, both operating in the financial services sector.

Both organisations were removed from the stock exchange due to revocation of their operating licenses by their primary regulator, the Central Bank of Nigeria (CBN). According to a circular signed by Ms Lilian Dako, on behalf of the Head, Listings Regulation Department at the NSE, the delisting of Skye Bank and Fortis Microfinance Bank from the daily official list of the exchange became effective on Wednesday, August 21, 2019.

“Dealing members are hereby notified that pursuant to Clause 15 of the General Undertaking, Appendix III of the Rule Book of the Nigerian Stock Exchange, 2015 (Issuers’ Rules), the under listed companies were delisted from the daily official list of the Nigerian Stock Exchange (The Exchange) today, Wednesday, August 21, 2019.

“Skye Bank Plc and Fortis Microfinance Bank Plc.

“The delisting of the afore-listed companies was approved by the National Council of The Exchange on Thursday, May 30, 2019 in line with the exchange’s regulatory delisting process as a result of the revocation of their operating licenses by their primary regulator, the Central Bank of Nigeria,” the circular stated.

It would be recalled that the CBN had in September 2018 revoked the operating licence of Skye Bank and established a bridge bank known as Polaris Bank.

SOURCE: https://businesspost.ng/2019/08/21/nse-delists-skye-bank-fortis-microfinance-bank/amp/

By 2022, Nigerians and other users of Toyota’s Land Cruiser will no longer be able to purchase the Sport Utility Vehicle (SUV), following the decision to stop producing it. This was attributed to sales drop. Land Cruiser has been in existence for ten years, but Toyota is no longer interested in its production as it has experienced reduction in demand. One of the factors restricting demand for Land Cruiser is the price, which is said not to match the value anymore.

Toyota Motor Corporation is a Japanese multinational automotive manufacturer headquartered in Toyota, Aichi, Japan. The company offers a range of trucks, cars, Sport Utility Vehicles, hybrids and minivans across the world.

The cheaper substitute has also contributed to the drop in sales, as well as brand competition from Toyota’s range of SUVs. Motorists seem to prefer Toyota’s 4Runner and Sequoia to Land Cruiser. They now term Land Cruiser an ‘outdated piece of machinery’.

Meanwhile, Toyota has made an investment in Abia State to boost the region’s automobile industry. The automobile maker has established an ancillary auto centre in Umuahia where it will run a range of top-line vehicles.

According to the Director of Unique Integrated Auto Centre, Jaja Ihesiaba, the auto centre has been structured to become a leader in the automobile industry in the South-East. While outlining features of the centre, he said it has been equipped with state-of-the-art facilities for Toyota products. He also said it is the biggest showroom in Abia State, and will directly source and acquire genuine spare parts from Toyota International.

WHY IT MATTERS: The ancillary auto centre will be a driver of employment, as it will provide opportunities for both skilled and unskilled residents of the state. Toyota is a key driver of labour globally, accounting for 364,445 employees worldwide in 2017. It was the 6th-largest company in the world by revenue as of Sept 2018.

The centre will contribute to much-needed employment opportunities at a period the country’s unemployment number is high.

SOURCE: https://nairametrics.com/2019/08/21/toyota-to-cancel-land-cruiser-opens-ancillary-auto-centre-in-abia/

Ray Dalio, one of the prominent names in finance, is the founder of Bridgewater Associates, the largest hedge fund in the world, managing $160 billion in assets. He was asked what advice he would give young investors, and below is a summary of the three major points he made. This advice can be used in any country.

1. PRIORITIZE SAVINGS
Saving is a very important habit to develop, as it can be the difference between becoming financially secure and living in penury. We all know why it is important to save, however practising it, in reality, is a different ball game. There are critical questions you will have to ask yourself to ensure you save properly and put yourself on the path of financial freedom:

-- How much do I spend each month?
-- How much do I have saved?
-- How many months will I be okay with the savings if I stop earning?

The important thing is for you to observe your spending patterns, calculate, cut down unnecessary expenses and be very meticulous about the whole process because savings is freedom and security. In addition, we have to be cautious about debt. Debt for consumption is bad; however, debt for productive use is better, because it produces forced savings which is good.

2. LEARN TO SAVE WELL
Savings is the first part of the game. The next step is to determine how to save well.

What should I put savings into? You should understand that cash is the worst investment over a period of time, so you judge that by looking at rate of inflation in relation to the after-tax income you will earn. If inflation rate in the country grows at an average of 11% and you are earning 4 or 5% on your savings in a bank or somewhere else, then your money will be worth less and less, as you are shortchanging yourself.

To overcome impact of inflation on the value of your money, you have to move into assets that will do better than inflation over a long time. You will have to do this by diversifying your savings and investing in different countries and asset classes.

Picking the right country to invest in is a big deal and may require expert advice so you don’t become susceptible to a total loss of funds because some countries carry political risks. There are various types of asset classes and you will have to choose the right balance between variable income instruments and fixed income instruments.

3. DON'T FOLLOW THE CROWD.
Herd mentality is real, and no matter how knowledgeable you are, it is always difficult to go against the crowd. However, in investing, the crowd is seldom right so you have to buy some assets when no one is buying or sell when no one is selling.

Finally, you should be aware that you will encounter losses along the way, as the value of your investments will fluctuate over time; however, the key is to have the emotional stability to be prepared to be in the game for the long haul, as the best returns in investing come from compounding.

SOURCE (abridged): https://nairametrics.com/2019/08/20/a-billionaire-recommends-3-strategies-to-create-wealth/

-- Nigerian share dividends offer opportunity, Tundra Fonder says
-- Projected yield on Lagos stocks triple the MSCI global index

Nigerian stocks may be among this year’s worst performers, but that’s at least boosting the appeal of their yields.

The benchmark index in Africa’s biggest oil producer has fallen 14% this year, making it the 4th-worst among 94 major bourses tracked by Bloomberg. The slump underscores foreign investors’ frustration over lack of policy progress since President Muhammadu Buhari won re-election in February.

Despite the gloomy picture, a global abundance of negative-yielding debt and the generous payouts on offer from Nigerian stocks could revive the Lagos market’s allure for those seeking returns, according to investors including Tundra Fonder AB.

“As long-term investors, this is a great opportunity to create alpha further down the road and get very attractive dividends in the meantime,” said Mathias Althoff, a money manager in Stockholm at Tundra Fonder, which has about $50 million of African assets, $20 million of which is allocated to Nigeria.

With a 9% cash payout projected in the next 12 months, Nigeria promises more than three times the returns of the MSCI All Country World Equity Index, data compiled by Bloomberg show. Members of the Nigerian Stock Exchange index trade at just 5 times estimated earnings, making equities in the oil-rich nation among the cheapest globally of those with generous yields.

Stocks in Africa’s most-populous country are also looking more enticing than their frontier peers, with estimated yields for members of the MSCI Frontier Markets Index at less than 6%.

“Even if earnings do not grow, the fact that prices are very low will mean that you will have higher yields compared to other markets,” Jerry Nnebue, analyst at Cardinalstone Partners, said by phone from Lagos. The dividend estimates may prompt a recovery in share prices as investors turn to the cheapest markets for gains, he said.

While doubts over the Nigerian government’s ability to spur faster economic growth may deter traders from buying the country’s stocks, there are some shares that look attractive even with the murky near-term outlook, said Althoff. These include leading lenders such as Guaranty Trust Bank Plc and Zenith Bank Plc.

“With the two top tier-one banks Guaranty Trust and Zenith yielding 11% and 17% respectively, it makes sense to buy them regardless of the lack of a short-term trigger,” Althoff said.

SOURCE: https://www.bloomberg.com/amp/news/articles/2019-08-20/yields-rush-to-the-rescue-of-one-of-world-s-worst-stock-markets?__twitter_impression=true

Nigeria, just like most alcohol drinking countries around the world, is in the middle of a brutal beer war that has seen competing beer makers suffer declining bottom lines in exchange for higher market share.

In Nigeria, this battle is currently between three major brewers: International Breweries (owned by AB InBev), Guinness Nigeria (owned by Diageo) and Nigerian Breweries (partly owned by Heineken).

Comparative data from the financial statements of three of the largest beer makers in the country suggest that Guinness Nigeria Plc has lost its place as the second-largest brewer by revenue to International Breweries.

NEW NUMBER 2
As at the half-year ended December 2018, Guinness Nigeria reported revenues of about N67.79 billion, compared to N70.5 bn in same period a year earlier. International Breweries, on the other hand, reported half-year revenues for the period ended June 2019 of N68.6 bn, slightly overtaking its rival.

It is important to note that Guinness reports its full-year results ended June 30th every year, while International breweries adopt a full year-end date of December 31st every year. On a quarter on quarter basis, things also looked quite tight. In the quarter ended March 2019, Guinness reported revenues of N33.6 bn compared to International Breweries’ revenues of N33.5 bn. In the quarter ended Sept 2018, Guinness posted revenues of N28 bn compared to International Breweries N30.2 bn.

Also, in quarter ended Dec 31, 2018, Guinness and International Breweries reported revenues of N39.7bn and N32.7 bn respectively. Guinness is yet to release its June 30th, 2019, audited results. Guinness typically posts strong revenues in the quarter between April 1 and June 30th. Both companies do not publish their volumes.

Nigerian Breweries Plc still leads both companies, with half-year (January to June 2019) revenues of N170.1 billion.

BOTTOM LINE
This is a grand shift in the Nigerian beer market, which has been dominated by Nigerian Breweries and Guinness for decades.
As competition becomes stiffer, Guinness has lost market share over the last 5 years, especially as younger alcohol drinkers shift towards spirits and cheaper quality beers.

International Breweries saw the opening and quickly flooded the market with cheap beers such as Hero, Trophy, Castle, Eagle Stout and more recently, Budweiser. The company has also improved its distribution capabilities while increasing its capacity over the years. Suffice to add that International Breweries also has the strong backing of one of the largest brewers in the world, AB InBev, and is leveraging on its distribution value chain and brand equity.

HUGE COST
Winning the second position in market share has had to come at a cost for International Breweries, as detailed in this Nairametrics article. Nevertheless, they will feel vindicated, as Guinness hasn’t had that much upside. In fact, Guinness’ share price has also fallen over the last 5 years, just as it accumulated losses along the way.

WHAT NEXT?
The beer war is not over, and more casualties could still emerge. We, however, expect Guinness to fight back, and they may as well recoup their second position when they release their full-year annual report. For now, International Breweries can savour its win.

SOURCE: https://nairametrics.com/2019/08/18/beer-wars-international-breweries-takes-number-2-market-share-from-guinness-plc/

A group of five Nigerian schoolgirls working as team ‘Brain Squad’ have created an application that would help finance the education of poor children “across the world”. The members of the group include Jadesola Kassim, Munachiso Chigbo, Pandora Onyedire, Ayomikun Ariyo and Ivana Mordi.

The girls, whose ages range between 10 and 11, are from Standard Bearers School, Lekki Phase 1, in Lagos. They represented the country at the 2019 Technovation World Pitch summit, which held on August 15, 2019, in California, after creating an app called ‘Handsout’ which sources funds and educational materials from people around the world and gives them to children who can’t afford them.

Five Nigerian girls from Standard Bearers School in Lagos competed in this year’s Technovation World Pitch Summit in California, USA. They created an app called “Handsout” to help finance the education of indigent children. Well Done! pic.twitter.com/o3sBcKQUbo
— U.S. Mission Nigeria (@USEmbassyAbuja) August 17, 2019

According to them, the collapse of a building that houses a primary school, which led to the death of many young children in March 2019, was what inspired them to develop the app.

“On 16th of March 2019, the tragic news of a building which had a primary school within at Itafaji Lagos collapsed. Many children died and others were injured,” they were quoted to have said. “The community was thrown into morning and the surviving children can’t understand why friends and relatives had to die. They need hope.”

The Technovation World Pitch summit will help them network, refine their proposal, and pitch their app in order to make a positive impact in their local communities.

SOURCE: https://lifestyle.thecable.ng/five-nigerian-schoolgirls-create-app-to-finance-education-of-poor-children/

The FBI in a statement said in an investigation led by the FBI and the assistance of the IRS Criminal Investigation, Gloria Okolie and Paul Aisosa, both Nigerian nationals residing in Dallas, Texas, were charged in an indictment filed on June 6 in the Southern District of Georgia.

Also, the FBI has arrested the Chief Executive Officer of Invictus Group, Obinwanne Okeke, for conspiracy to commit computer fraud. Okeke, who made it into Forbes ‘Africa’s 30 Under 30 List in 2016’, was arrested by the FBI over $11m wire fraud after an account belonging to the CEO of Unatrac Holding Limited, a steel company, was hacked. The suspect was alleged to have conspired with some other individuals to access the CEO’s computers without authorisation.

“Operation Wire Wire, a coordinated law enforcement effort by the U.S. Department of Justice, U.S. Department of Homeland Security, U.S. Department of the Treasury and the U.S. Postal Inspection Service, was conducted over a six month period, culminating in over two weeks of intensified law enforcement activity resulting in 74 arrests in the United States and overseas, including 29 in Nigeria, and three in Canada, Mauritius and Poland.

“The operation also resulted in the seizure of nearly $2.4 million, and the disruption and recovery of approximately $14 million in fraudulent wire transfers. “Business Email Compromise, BEC, also known as “cyber-enabled financial fraud,” is a sophisticated scam often targeting employees with access to company finances and businesses working with foreign suppliers and/or businesses that regularly perform wire transfer payments. “The same criminal organizations that perpetrate BEC also exploit individual victims, often real estate purchasers, the elderly, and others, by convincing them to make wire transfers to bank accounts controlled by the criminals.

“Those individuals are often members of transnational criminal organizations, which originated in Nigeria but have spread throughout the world. Fraudsters can rob people of their life’s savings in a matter of minutes. Now, in this operation alone, we have arrested 42 people in the United States and 29 others have been arrested in Nigeria for alleged financial fraud.

And so I want to thank the FBI, nearly a dozen U.S. Attorneys’ Offices, the Secret Service, Postal Inspection Services, Homeland Security Investigations, the Treasury Department, our partners in Nigeria, Poland, Canada, Mauritius, Indonesia, and Malaysia, and our state and local law enforcement partners for all of their hard work. We will continue to go on offense against fraudsters so that the American people can have safety and peace of mind.

“This operation demonstrates the FBI’s commitment to disrupt and dismantle criminal enterprises that target American citizens and their businesses, “We will continue to work together with our law enforcement partners around the world to end these fraud schemes and protect the hard-earned assets of our citizens. The public we serve deserves nothing less.

“Following an investigation led by the FBI with the assistance of the IRS Criminal Investigation, Gloria Okolie and Paul Aisosa, both Nigerian nationals residing in Dallas, Texas, were charged in an indictment filed on June 6 in the Southern District of Georgia. “According to the indictment, they are alleged to have victimized a real estate closing attorney by sending the lawyer a spoofing email posing as the seller and requesting that proceeds of a real estate sale in the amount of $246,000 be wired to Okolie’s account.

They are charged with laundering approximately $665,000 in illicit funds. The attorney experienced $130,000 in losses after the bank was notified of the fraud and froze $116,000. Adeyemi Odufuye aka “Micky,” “Micky Bricks,” “Yemi,” “GMB,” “Bawz” and “Jefe,” 32, and Stanley Hugochukwu Nwoke, aka Stanley Banks,” “Banks,” “Hugo Banks,” “Banky,” and “Jose Calderon,” 27, were charged in a seven-count indictment in the District of Connecticut in a BEC scheme involving an attempted loss to victims of approximately $2.6 million, including at least $440,000 in actual losses to one victim in Connecticut.

A third co-conspirator Olumuyiwa Yahtrip Adejumo, aka “Ade,” “Slimwaco,” “Waco,” “Waco Jamon,” “Hade,” and “Hadey,” 32, of Toledo, Ohio, pleaded guilty on April 20 to one count of conspiracy to commit wire fraud. “Odufuye was extradited from the United Kingdom to the United States and on Jan. 3, pleaded guilty to one count of conspiracy to commit wire fraud and one count of aggravated identity theft. Nwoke was extradited to the United States from Mauritius on May 25, marking the first extradition in over 15 years from Mauritius. His case is pending.

“Richard Emem Jackson, aka Auwire, 23, of Lagos, Nigeria, was charged in an indictment filed on May 17 in the District of Massachusetts with two counts of unlawful possession of a means of identification as part of a larger fraud scheme. “According to the indictment, on two occasions in 2017, Jackson is alleged to have possessed the identifications of two victims with the intent to commit wire fraud conspiracy.

“Attorney General Sessions expressed gratitude for the outstanding efforts of the participating countries, including law enforcement actions that were coordinated and executed by the Economic and Financial Crimes Commission (EFCC) in Nigeria to curb business email compromise schemes that defraud businesses and individuals alike.

“Victims are encouraged to file a complaint online with the IC3 at bec.ic3.gov. The IC3 staff reviews complaints, looking for patterns or other indicators of significant criminal activity, and refers investigative packages of complaints to the appropriate law enforcement authorities in a particular city or region.

The FBI provides a variety of resources relating to BEC through the IC3, which can be reached at www.ic3.gov.”e.

SOURCE: https://www.vanguardngr.com/2019/08/fbi-arrests-many-nigerian-fraudsters-in-us/

A customer shot a waiter dead at an eatery on the outskirts of Paris, apparently enraged at being made to wait for a sandwich, a source close to the investigation said Saturday. The waiter’s colleagues called police after he was shot in the shoulder with a handgun in the Noisy-le-Grand suburb east of Paris on Friday night, the source said.

Attempts to revive the 28-year-old failed and he died at the scene. The gunman, who a witness said lost his temper “as his sandwich wasn’t prepared quickly enough”, fled the scene. Police told AFP a murder investigation has been opened.

With the shooter still on the run Saturday, shocked residents gathered outside the pizza and sandwich eatery.

“He was killed for a sandwich?” one asked, unbelievingly.

It is sad,” said a 29-year-old woman. “It’s a quiet restaurant, without any problems. It just opened a few months ago.”

But others noted high crime levels in the area, notably drug-dealing and public drunkenness.

SOURCE: https://t.guardian.ng/news/french-waiter-shot-dead-for-being-too-slow-with-sandwich/