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Sports#GloCAFawards2016: CAF Releases List of Nominees in all Categories – See List by solaugo1(op): 3:39pm On Jan 04, 2017
#GloCAFawards2016: CAF Releases List of Nominees in all Categories – See List and Photos

The Glo CAF Awards is taking place on the 5th of January in Abuja, Nigeria

List of Nominees in all categories are as follows:

African Player of the Year Nominees

African Player of the Year (Based in Africa)

Coach of the Year nominees

Youth Player of the Year

Most Promising Talent award nominees

National Team of the Year nominees

Club of the Year nominees

http://newsnownigeria.com.ng/glocafawards2016-caf-releases-list-nominees-categories-see-list-photos/

PoliticsBREAKING: Magu Not Sacked - EFCC; Presidency (Read Tweets) by solaugo1(op):
EFCC has reacted a news publication from online media and GUARDIAN Newspaper that the acting chairman of EFCC Ibrahim Magu has been asked to hand over to Director of Operations..

In a tweet posted on the official twitter handle of the anti corruption organisation, EFFC says the story is not true...Read tweet below:

Guardian Newspaper Lied. Magu Not Sacked!

The presidency through the office of the Spokesperson to the President, Garba Shehu tweeted to confirm EFCC statement on the status of the Acting Chairman of EFCC - Read Tweets:


http://newsnownigeria.com.ng/breaking-magu-not-sacked-efcc-read-tweets/

PoliticsRe: Abia Speaker, Kennedy Njoku, Resigns by solaugo1: 4:35pm On Dec 30, 2016
ok....Students don't follow the footsteps of these politicians....Read very well and be a change promoter...earn as you study...read the post below

PoliticsBREAKING: New Abia Assembly Speaker Resigns After 24hrs In Office by solaugo1(op): 4:26pm On Dec 30, 2016
A new speaker has been sworn in to replace the Kennedy Njoku who resigned his position as speaker of the Abia State house of assembly less than 24 hours after he was elected.

Tendering his resignation letter on the floor of the house, he disclosed that his resignation was for personal reasons.

Meanwhile, Chikwendu Kalu member representing isialangwa South has been sworn in un opposed.

In his speech, he said he was proud of the house for the understanding and fraternity the house has been able to establish.

He promised to diligently discharge his duty.

http://newsnownigeria.com.ng/breaking-new-abia-assembly-speaker-resigns-after-24hrs-in-office/

EducationGiving Back To Alma Mater: Alumni Donates Clinic To College - See photos by solaugo1(op):
It was a day of joy for management, staff and students of Molusi College Ijebu Igbo, Ogun State, as the school clinic was commissioned.

Speaking at the commissioning ceremony, the President of the set involved with the construction of the school clinic appreciate the effort of the members of 78/83 set for their tireless efforts in making the project a reality.

Read full speech below:

*WELCOME ADDRESS BY THE SET CHAIRMAN*
Good afternoon, the national president ably represented by the 1st vice president Mr Ewetuga, all other national exco members , the principals of Molusi College senior and junior school , exco members of MOCOSA 78/83 Set , other members of MOCOSA 78/83 Set , ladies and gentlemen.

I welcome you all to this special event marking the opening and handing over of MOCOSA 78/83 clinic project . We have come a long way to arrive at today's event. The history of the school clinic dates back to January 2014 when a team of our members numbering about 10 from various discipline paid a visit to the school with a view to identifying two laudable projects that can be handled by our members. Three projects were identified , namely sponsorship of PTA Teachers, re-roofing of Oluwole Awokoya block and building a school clinic.

Our members unanimously agreed to sponsor 3 PTA Teachers, 2 for senior school and 1 for junior school and that commenced immediately but there was heated debate as to which one to pick out of the remaining two choices. At the end of the day those in favour of the Clinic project were overwhelming. Hence the Clinic project was chosen.

A building committee was set up by the house comprising of professionals namely Surveyor Sikiru Salami of blessed memory , Architect Wale Adebayo, Engineer Adekunle Adenuga aka Ased, Builder Sheriff Are, Mr Ahmed Adesanya and Mr Niyi Onasanya. Other advisers include Dr Tony Ogundipe and Dr Wellington Ogunsanya.

The foundation was finally laid on 28th January 2015. The construction work continued throughout the year as members contribution /donation came in.

The project was completed with about #5 million naira excluding value of voluntary professional services and material donations.

Permit me at this junction to acknowledge the contributions of the following major donors Dr Tony Ogundipe, Dr Wellington Ogunsanya and Mr Lekan Akinlaja. I also want to acknowledge the following people for their contribution towards the success of this project ; Mr Sunday Odubanjo, Dr Femi Jayesimi, Mr Tunde Talabi, Chief Adeyemi Adesanya, Mrs Lateefa Fowosire, Mrs Bimpe Olofintuyi, Mr Bimbola Adesanya , Mr John Agbolade, Mr Kunle Adenuga , Mr Sheriff Are, Arc Wale Adebayo, Alhaji Suraju Adebanjo, Mufutau Oluyemi, Saheed Salaam, Demola Okuneye, Idiat Gafar, Yemisi Ogunnupe, Yinka Idowu , Bolanle Kazeem, Pastor Mustapha Olayinka and a host of others too numerous to mention , am sorry that time won't permit me to name everyone individually. I pray that God Almighty will reward you all.

I will like us to observe a minute silence in honour of Surveyor Sikiru Salami and others that passed on during the course of the project. May God Almighty grant their souls eternal rest.

To round it all up we are immensely grateful to God Almighty for allowing us to will it and achieve it.

ONLY THE BEST!
Sholabomi Kaka MC 5511
Chairman MOCOSA 78 /83 Set.

Report packaged by Olusola Ogundeko (95 SET - MC 9202)

Source - http://newsnownigeria.com.ng/giving-back-to-alma-mater-alumni-donates-school-clinic-to-molusi-college-see-photos/

WebmastersRe: My Blog Theme Doesn't Show My Pictures, Why? by solaugo1: 7:59am On Dec 23, 2016
Tell it to the Jambites to be......

EducationRe: WAEC Withholds Results Of 13,488 Candidates In Released Nov/dec Exam Record by solaugo1: 8:25pm On Dec 16, 2016
Now that you passed, ......go and start your UTME CBT Exercises for FREE and WIN Cash!

PoliticsBREAKING: Senate Reject Confirmation Of Magu; Confirms Others... by solaugo1(op): 1:42pm On Dec 15, 2016
Earlier today at plenary, the Senate Senate goes into an Executive Session. On resumption from the Executive Session, Senate announced the rejection of the cofirmation of Ibrahim Magu as the EFCC Chairman.

Reads:

At the closed doors session Senate deliberated on issues bothering on the workings of the National Assembly and the confirmation of the nomination of the EFCC Chairman and other members....Following the security report before it, Senate therefore rejected the confirmation of the Nomination of Mr. Ibrahim Magu as Chairman EFCC

http://newsnownigeria.com.ng/breaking-senate-reject-confirmation-magu-confirms-others/

Politics#Riversrerun: Elections To Hold Today (Sunday) At AKUKU TORU - INEC by solaugo1(op): 2:43pm On Dec 11, 2016
#RiversRerun: Elections to hold today (Sunday) at AKUKU TORU - INEC (Read Press Release)

The elections in Akuku Toru were cancelled yesterday following explosions of dynamite and snatching of electoral materials by hoodlums.

Following an agreement amongst Stakeholders, the National and State Assembly elections in Akuku Toru Local Government Area of Rivers state were rescheduled to hold today (Sunday,11th December 2016).

In Andoni Local Government Area, INEC staff were held hostage and elections could not hold. Consequently, the Security agencies reinforced with a view to rescuing them and completing the elections today.

Though the National and State Assembly elections conducted in Rivers state yesterday were relatively peaceful and the turn-out of voters was impressive, with Polling Units opening on time, there were reported cases of violence.

Using the template deployed in the Edo and Ondo governorship elections, INEC staff were embedded at the Registration Area Centres ( RACs) across Rivers state on Friday and deployed to the Polling Units across Rivers state at first light on Saturday, 10th December 2016.

In some areas such as Akuku Toru, Eleme, Etche, Gokana, Khana, and Andoni, violence or the threat of it, made it impossible for the polling officials to deploy as scheduled.

In the meantime, the Commission is receiving reports with a view to concluding the elections where there were violent disruptions.

http://newsnownigeria.com.ng/riversrerun-elections-hold-today-sunday-akuku-toru-inec-read-press-release/

Politics#RiversRerun: INEC Confirms Election Violence; Issue Press Release (Full Speech) by solaugo1(op): 4:29pm On Dec 10, 2016
INTERIM REPORT ON THE RIVERS RE-RUN ELECTIONS

Following the release of the timetable for the conclusion of the National and State Assembly re-run elections in Rivers state on 3rd November 2016, the Independent National Electoral Commission (INEC) proceeded to conduct the elections in the state as scheduled today, Saturday, 10th December 2016.

The elections were generally peaceful and the turn-out was impressive except in Akuku-Toru, Gokana, Rhana, Andoni and Tai Local Government Areas. There were alleged reports of dynamite explosions in Akuku-Toru; INEC officials were attacked in Khana; electoral materials were snatched in Andoni; and our staff were prevented from conducting the elections in Tai State Constituency.

In a few other areas where hoodlums threatened the conduct of the exercise, the security agencies intervened and ensured that the elections were conducted in a peaceful atmosphere. In the meantime, actual voting has ended in most Polling Units (PUs).

We urge the good people of Rivers state to continue to cooperate with the Commission so that ultimately, we would have results that are acceptable to the Stakeholders.

Source - http://newsnownigeria.com.ng/riversrerun-inec-confirms-election-violence-issue-press-release-read-full-speech/

BusinessMbanefo MMM-Nigeria website owner unmasked - See Photo by solaugo1(op): 10:16pm On Dec 02, 2016
A Nigerian, who styled himself as Pastor Ernest Chigozie Mbanefo is the mastermind of the suspected Ponzi scheme known as MMM Nigeria. According to an online report, Mbanefo is based in South Africa.

Nigerian Communications Week said Mbanefo registered the site MMM-Nigeria.net domain on June 7, 2016 about at about 5 pm Nigerian time.

NCW quoting Pageone report written as far back as September said Mbanefo made a single year domain payment. The domain will expire on June 7, 2017.

It was also revealed that MMM Nigeria is not part of MMM Global – a Russian company that was responsible for one of the world’s largest Ponzi schemes in the 1990s.

MMM Global was founded by Russian politician Sergei Mavrodi, his brother Vyacheslav Mavrodi and Olga Melnikova.

The name of the company was taken from the first letters of the three founders’ surnames (MMM)

But like MMM Global, the Nigerian scheme is also a pyramid marketing scheme where an investor gets a 30 per cent return on investment. Around the world, MMM is feared.

In January 2016 the Chinese government banned MMM on the grounds that it is a pyramid scheme, (Ponzi scheme), and it is not registered in the country (and as a fraudulent scheme cannot be registered.

MMM recently crashed in Zimbabwe: Thousands of ‘Mavrodians’ in Zimbabwe were left in tears when the scheme crashed, losing tens of thousands of their lifetime savings.

PageOne gave Mbanefo’s address as 1 ROYAL STREET, LINDBERG PARK, JOHANNESBURG, SOUTH AFRICA.

According to Page One, on the 15th of July, Ernest was awarded a certificate of completion of an online course titled ‘MMM Guiders School’. The certificate was supposedly signed by Sergei Mavrodi himself. He has since given himself the nickname the ‘Super Guider of MMM’.

To share news and information about MMM, Ernest also operates a subdomain ‘news.mmm-nigeria.net. The site praises him and projects him as the leader of the Ponzi Scheme in Nigeria.

“He is described as: MMM Nigeria Super Guider; Pastor Ernest Mbanefo, has been selflessly helping thousands of MMM Nigeria Participants whether or not they fall under his downline structure. The brain behind the MMM NIGERIA REVOLUTION operation has been working selflessly and tirelessly towards the education, information and proper guidance for the MMM Nigeria Community’

http://newsnownigeria.com.ng/mbanefo-mmm-nigeria-website-owner-unmasked-see-photo/

PhonesBREAKING: NCC Suspends Data Price Increase - Read Press Statement (A Must Read) by solaugo1(op): 3:33pm On Nov 30, 2016
FOR IMMEDIATE RELEASE PRESS RELEASE - NCC suspends directive on data segment price floor

Following the concerns that visited the directive to introduce price floor for data segment of the telecommunications sector
beginning from December 1, 2016, the Nigerian Communications Commission (N CC) has suspended any further action in
that direction.

The decision to suspend this directive was taken after due consultation with industry stakeholders and the general complaints
by Consumers across the country. The Commission has weighed all of this and consequently asked all operators to maintain the status quo until the conclusion of study to determine retail prices for broadband and data services in Nigeria.

Recall that the Commission wrote to the Mobile Network Operators (MNO5) on November 1, 2016 on the determination of
an interim price floor for data services after the stakeholder’s consultative meeting of October 19, 2016.

The decision to have a price floor was primarily to promote a level playing field for all operators in the industry, encourage
small operators and new entrants. The price floor in 2014 was N3.11k/MB but was removed in 2015. The price floor that was supposed to flag off on December 1, 2016 was N0.90k/MB.

In taking that decision, the smaller operators were exempted from the new price regime, by market share. The floor was taken in consumers who are and save the smaller operators from predatory services that are likely to suffocate them and push them into extinction.

The price floor is not an increase in price but a regulatory safeguard put in place by the telecommunications regulator to check anti-competitive practices by dominant operators. This statement clarifies the insinuation in some quarters that the regulator has fixed prices for data services. This is not true because the NCC does not fix prices but provides regulatory guidelines to protect the consumers, deepen investments and safeguard the industry from imminent collapse.

Before the new suspended price floor of N0.90k/MB, the industry average for dominant operators including MTN Nigeria
Communications Limited, EMTS Limited (Etisalat) and Airtel Nigeria Limited was N0.53k/MB. Etisalat offered (N0.94k/M), Airtel (N0.52K/MB), MTN (N0.45K/MB) and Globacom (N0.21K/MB).

The smaller operators/new entrants charge the following: Smile Communications (N0.84K/MB), Spectranet (N0.58K.MB) and NATCOM NTEL (N0.72K/MB).

The NCC as a responsive agency of government takes into consideration the feelings of the consumers and so decided to suspend the new price floor.

Signed
Tony Ojobo
Director, Public Affairs

Source - http://newsnownigeria.com.ng/breaking-ncc-suspends-data-price-increase-read-press-statement-must-read/

Travel#OndoDecides: Traffic Gridlock On Benin-Sagamu Expressway (Ore Section) - Photos by solaugo1(op): 2:16pm On Nov 26, 2016
The on-going Ondo State Gubernatorial Election is taking it toil on the Sagamu-Benin Expressway. In a statement widely broadcast yesterday by www.newsnownigeria.com.ng, FRSC has warned motorists that the Ore section of the expressway will be restricted to vehicular movement – See Photos from on-going traffic situation on the express way:

More photos @ http://newsnownigeria.com.ng/ondodecides-traffic-gridlock-benin-sagamu-expressway-see-photos/

BusinessRe: Abia Mall Shoprite Opens For Business - See Photos by solaugo1(op): 5:43pm On Nov 24, 2016
Na waoooo...So Nairaland na for some few individuals?....

Do they bribe to get posts to front page?
BusinessAbia Mall Shoprite Opens For Business - See Photos by solaugo1(op): 4:08pm On Nov 24, 2016
The Abia Mall Shoprite opens for business today. The edifice commissioned by the Governor Okezie Ikpeazu will housed retail products at cheaper prices - See Photos from the commissioning ceremony:


http://newsnownigeria.com.ng/abia-mall-shoprite-opens-business-see-photos/

Jobs/VacanciesBREAKING:200,000 N-power Participants To Start Work On Dec. 1, 2016 - Presidency by solaugo1(op):
The 1st batch of the 500,000 N-Power Participants (200,000) are to Start Work on Dec. 1, 2016. This was made know in a series of tweets posted on the official twitter handle of the Presidency - Read....

https://newsnownigeria.com.ng/wp-content/uploads/2016/11/wp-1479672589763.jpg

The 200,000 young Nigerians selected as @npower_ng Teachers, Agriculture & Health workers will start work on December 1, 2016. The 200,000 were selected about 2 weeks ago; their names have now been sent to State Govts and FCT for deployment to specific assignments.

https://newsnownigeria.com.ng/wp-content/uploads/2016/11/Npower.jpg

The names will also be published this week on @npower_ng portal. Participants will start receiving notification SMS from Monday 21 Nov 2016. State Govts and the FCT are also encouraged to post names of the successful @npower_ng applicants in their local government areas.

https://newsnownigeria.com.ng/wp-content/uploads/2016/11/Npower1.jpg

Please note that this batch of 200,000 @npower_ng beneficiaries is the FIRST. Recruitment is an ongoing process; there will be other batches. In total, @npower_ng will engage and train 500,000 young unemployed graduates. It is a paid volunteering programme of a 2-year duration.

https://newsnownigeria.com.ng/wp-content/uploads/2016/11/npower3.jpg

The 500,000 @npower_ng beneficiaries will be expected to exit after two years to economically viable job and business opportunities....

More @ http://newsnownigeria.com.ng/breaking-200000-n-power-participants-start-work-dec-1-2016-presidency-see-selection-process/
PoliticsSenate: Bill For Provision Of Independent Candidate Passes 1st Reading (photos) by solaugo1(op): 9:24am On Nov 18, 2016
Christianity EtcRe: Oritsejafor Arrives Airport With Armed Policemen (Video) by solaugo1: 2:40pm On Nov 16, 2016
[size=15pt]....Let him ask Abacha how he died with all the security guards at Aso Rock -[/size]
PoliticsRe: Osinbajo, Ambode, Others At Traditional Marriage Of Rauf Argbesola's Son -photos by solaugo1(op): 4:37pm On Nov 05, 2016
funny you....first picture is Aregbesola's son.....don't get it twisted...as for last photo...na you sabi....
OPCNAIRALAND:
First photo, is that Aregbe son or the Govrrnor himself? shocked

Last picture, Ambode don born aje butter pikin. See hin rosy cheeks grin grin
PoliticsOsinbajo, Ambode, Others At Traditional Marriage Of Rauf Argbesola's Son -photos by solaugo1(op): 4:28pm On Nov 05, 2016
PoliticsOgun State Workers Suspend Strike - Press Release by solaugo1(op): 10:01pm On Nov 02, 2016
Ogun Workers Signs MOU with State Government; Suspend Strike - See Photos

https://i2.wp.com/newsnownigeria.com.ng/wp-content/uploads/2016/11/ogun1.jpg?resize=1024%2C569

The leadership of the organised labour in Ogun State, on Wednesday, suspended the ongoing strike action.
Labour leadership announced the suspension of the strike action after hours of meeting held in the Governor's Office, Oke-Mosan, Abeokuta.

The meeting, which had in attendance Comrade Ayuba Wabba, the President of the Nigeria Labour Congress, NLC and Comrade Bobboi Kaigama of the Trade Union Congress, witnessed the signing of a communique announcing the suspension of the strike.

https://i0.wp.com/newsnownigeria.com.ng/wp-content/uploads/2016/11/ogun2.jpg?resize=1024%2C682

The communique, jointly signed by labour and government representatives indicated that the State government would continue with its scheduled payment of cooperative deduction after every 90 days by paying another one month at the end of November 2016.

In addition to that, it was agreed that government would immediately off set one year arrears of check off dues while outstanding gratuities will be offset with N200 million, every other month, effective from November 2016.

https://i2.wp.com/newsnownigeria.com.ng/wp-content/uploads/2016/11/ogun3.jpg?resize=1024%2C678

The meeting equally agreed that a joint committee of labour and government should be set up to look into issues of the Contributory Pension Scheme and submit report in 90 days.

It was also agreed that the 2015 promotion result should be released immediately while Labour and government should meet quarterly as a way
of improving Industrial harmony.

[img][/img]

Speaking after the signing of the communique, Ogun State Governor, Senator Ibikunle Amosun, eulogised civil servants in Ogun State describing them as "the best in the country."

"I have always said it that we have one of the best civil service in the country and it cannot be otherwise because we are Ogun State, the place of people like the late Simeon Adebo," the governor said.

He however added that those who want to mix politics with unionism have no place in the Ogun State Civil Service.

Signed
Adejuwon Soyinka,
Senior Special Assistant (Media)
Ogun State Governor.

http://newsnownigeria.com.ng/ogun-workers-signs-mou-state-government-suspend-strike-see-photos/
InvestmentMMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? (A Must Read) by solaugo1(op): 8:58am On Oct 24, 2016
With the current high rate of unemployment, job losses and pressing financial needs in the country, it is not surprising that the youth are embracing questionable get rich quick schemes and opportunities. For instance, the number of Nigerians that now patronise the popular lottery games is on the increase. Some youths are also deeply involved in sport betting through such platforms as Nairabet, Merrybet and Bet9ja, among others.

https://i2.wp.com/newsnownigeria.com.ng/wp-content/uploads/2016/10/Sergei-Panteleevich-Mavrodi.jpg?resize=300%2C165

It is against this backdrop that the MMM Federal Republic of Nigeria made a grand entrance into the Nigerian investment market in 2016. MMM stands for Mavrodi Mondial Moneybox and takes its name from its founders, Sergei Panteleevich Mavrodi, Vyacheslav Mavrodi, and Olga Melnikova.

The outfit was established in 1989 by these three Russian nationals, and promises its clients 30 per cent return on investment (ROI) for money put into the system for 30 days. The scheme prides itself as a mutual aid fund through which recruited members contribute money to assist others. The founders claimed they are not into banking, online business, investment company or a multi level marketing (MLM) programme. The scheme structure, however, indicates otherwise.

For instance, members can have multi-level structures under them and receive bonus from each donation of every participant in their structures. The company has been able to persuade many Nigerians to buy into its idea. Many Nigerian big online Business coaches and entrepreneurs with vast subscriber base are encouraging their followers to key in to the MMM opportunity. Thus, some Nigerians have invested millions of Naira into this scheme and are enjoying their newfound wealth.

This reporter has seen screenshots of money many claimed to have earned from the scheme. According to one such subscriber, Babajide Abayomi, MMM ensures a level playing ground for all. And with it, people don’t have to be under the yoke of the banking system, which demands that huge interest be paid on loans. He said MMM is real and safe. However, the question some have asked is: How long would it take to sustain the profits? Many still remember vividly the mad days of the Wonder banks in the early 2000s. Then, many lost their hard-earned money to the likes of Pennywise and such other scammers. To really grasp the risk involved in investing in this type of scheme, a study of the founders’ backgrounds provides good insights into the viability of their outfit.

According to Wikileak, the online information library, МММ was a Russian company that perpetrated one of the world’s largest Ponzi schemes in the 1990s. By different estimates, between five and 40 million people lost up to $10b. The website said the exact figures of money lost are not known, even to the founders. The site described Sergie Mavrodi as a Russian criminal and a former deputy of the State Duma in Russia. According to it, he is the founder of the МММ series of pyramid schemes. Wikileak reported that in 2007, Mavrodi was found guilty in a Russian court of defrauding 10,000 investors out of 110m rubles ($4.3m).

Wikileak reported: “In January 2011, Mavrodi launched another pyramid scheme called MMM-2011, asking investors to buy so-called Mavro currency units. He frankly described it as a pyramid, adding, “It is a naked scheme, nothing more … People interact with each other and give each other money. For no reason!” Mavrodi said his goal for launching MMM-2011 is to destroy the current financial system, which he considers unfair, and form something new to take its place.

“In 2011 he launched a similar scheme in India, called MMM India, again stating clearly that the vehicle is a pyramid. He has also launched MMM in China. He was reported to be trying to expand his operations into Western Europe, Canada, and Latin America. “In 2015, MMM began operating in South Africa with the same business model as MMM-2011, claiming a “30 percent per month” returns through a “social financial network.” “The group was identified as a possible pyramid scheme by the National Consumer Commission and accounts of clients were later frozen by Capitec Bank.”

In January 2016, the Chinese government banned MMM on the ground that it is a pyramid scheme, (Ponzi scheme), and not registered in the country. Earlier this year, the scheme crashed in South Africa. MMM Global only gave South Africans the bad news with a post on its website saying: “We regret to inform you that we have to close down the Republic of Bitcoin. It was an experiment, and, unfortunately, it failed. We turned out not to be able to pay 100 percent per month.” Also recently, the scheme collapsed in Zimbabwe.

One of the victims, Mrs. Rosemary Mawonde was quoted by Breaking Times, saying: “We never thought the scheme would end this way, as we believed that by using EcoCash to do the transactions, things were in order. I am surprised that EcoCash is also distancing itself from the scheme and it is clear that I will never recover the $300 that I invested.”

What then is a Ponzi scheme? The scheme (also a Ponzi game or a Ponzi) is an investment operation, where the operator, an individual or organisation pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate investments. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent.

Initially, the promoter would pay out high returns to attract more investors, and to lure current investors into putting in additional money. Other investors would begin to participate, leading to a cascade effect. The “return” to the initial investors is paid out of the investments of new entrants, and not out of profits. Often, the high returns encourage investors to leave their money in the scheme, with the result that the promoter does not have to pay out very much to investors; he simply has to send them statements showing how much they have earned. This maintains a semblance that the scheme is an investment with high returns.

The Securities and Exchange Commission has warned the public about the activities of the scheme on August 30 of this year. According to its website, SEC said: “The attention of the Securities and Exchange Commission, Nigeria (SEC) has been drawn to the activities of an online investment scheme, tagged ‘MMM Federal Republic of Nigeria (nigeria.). The platform has embarked on an aggressive online media campaign to lure the investing public to participate in what it called “mutual aid financial network” with a monthly investment return of 30 percent.

“The Commission hereby notifies the investing public that the operation of this investment scheme has no tangible business model, hence it’s a Ponzi Scheme, where returns are paid from other people’s invested sum. Also, the Commission does not register its operation. “The general public is hereby advised to distance itself from this online scheme. Please note that anyone that subscribe to this illegal activity does so at his/her own risk.”

Managing Partner, Two-Edge Partners Global Limited, Olajide Alex-Oni said such scheme is usually targeted at the extremely poor, greedy and desperate people of the society. He said: “The get rich quick scheme usually comes out looking so attractive to the populace, but like what is, it is robbing Peter to pay Paul!

“When a company encourages existing investors to invite other potential investors by rewarding them with money from these new comers, then what do you call that? Such a model is not sustainable and is a highly risky investment, because once the flow of investors and their funds stop flowing into the scheme, the investors will most definitely suffer unimaginable losses.”

Speaking on MMM operations, he said a number of countries around the world have banned this scheme and Nigeria should equally do the same. He said since SEC has warned Nigerians on the activity of this group, it is, therefore, illegal to invest in them, because their model is a typical pyramid scheme. He explained that the scheme was not licensed to operate in Nigeria, noting that its operations are online based, which can crash or get closed down unannounced. He said it’s designed to attract huge traffic and promises unconventional high returns on investment.

Speaking further, Alex-Oni warned: “People have to be careful of such schemes, because they claim to be foreign investor driven with amazing success stories, thus the attraction for the ignorant. The ignorant in this case are usually aware of the risk involved, but the greed in them let them take such risk with the hope to exit before the scheme crashes.

“It is also quite sad that in some extreme cases, some investors actually commit their entire life savings into these kinds of ponzi schemes. People should learn to get creative and innovative through hard work and smart thinking and start creating values and ideas that money will chase. That way, you may start small, but you will think big to grow big the proper way. A warning is enough for the wise.”

http://newsnownigeria.com.ng/mmm-nigeria-ponzi-scheme-robbing-peter-pay-paul-must-read/
SportsManU Fans Reacts After Chelsea Trash Man United 4 Goals – Read Comments by solaugo1(op): 5:31am On Oct 24, 2016
SportsCAF African Player Of The Year Award: Mikel, Iheanacho, Musa Among Nominees by solaugo1(op): 12:50pm On Oct 15, 2016
The Confedration of Africa Football - CAF, this morning released the list of the 30 players nominees for the CAF African player of the Year award.

https://i1.wp.com/newsnownigeria.com.ng/wp-content/uploads/2016/01/Glo-CAF-Awards.jpg?w=620

The list posted on the CAF official website has the names of Mikel Obi, Iheanacho and Ahmed Musa among the 30 nominees for the prestigious award - See Full List below:

CONFEDERATION AFRICAINE DE FOOTBALL - 3 Abdel Khalek Tharwat Street, El Hay El Motamayez, P.O. Box 23 - 6th of October City, Egypt. Tel.: 202 3824 7272 / Fax : 202 3824 7274
African Player of the Year

1. Riyad Mahrez (Algeria & Leicester City)
2. El Arabi Hillel Soudani (Algeria & Dinamo Zagreb)
3. Islam Slimani (Algeria & Leicester City)
4. Samuel Eto’o (Cameroon & Antalyaspor)
5. Benjamin Mounkandjo (Cameroon & Lorient)
6. Serge Aurier (Cote d’Ivoire & PSG)
7. Eric Bailly (Cote d’Ivoire & Manchester City)

8. Yao Kouasi Gervais ‘Gervinho’ (Cote d’Ivoire & Hebei Fortune)
9. Mohamed Salah (Egypt & Roma)
10. Mohamed El Neny (Egypt & Arsenal)
11. Pierre-Emerick Aubameyang (Gabon & Dortmund)
12. Andre Ayew (Ghana & West Ham)
13. Victor Wanyama (Kenya & Tottenham)
14. William Jebor (Liberia & Wydad Athletic Club)
15. Mehdi Benatia (Morocco & Juventus)

16. Hakim Ziyech (Morocco & Ajax)
17. John Mikel Obi (Nigeria & Chelsea)
18. Kelechi Iheanacho (Nigeria & Manchester City)
19. Ahmed Musa (Nigeria & Leicester City)
20. Cedric Bakambu (DR Congo & Villareal)
21. Yannick Bolasie (DR Congo & Everton)
22. Sadio Mane (Senegal & Liverpool)

23. Kalidou Koulibaly (Senegal & Napoli)
24. Keegan Dolly (South Africa & Mamelodi Sundowns)
25. Itumeleng Khune (South Africa & Kaizer Chiefs)
26. Mbwana Samatta (Tanzania & Genk)
27. Aymen Abdennour Tunisia & Valencia)
28. Wahbi Khazri (Tunisia & Sunderland)
29. Dennis Onyango (Uganda & Mamelodi Sundowns)
30. Khama Billiat (Zimbabwe & Mamelodi Sundowns)

African Player of the Year – Based in Africa - See Full List

http://newsnownigeria.com.ng/caf-african-player-year-award-mikel-iheanacho-musa-among-nominees-see-full-list/
Jobs/VacanciesRe: Stanbic IBTC 2016 Assessment Begins by solaugo1: 10:16am On Oct 15, 2016
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Sports#CAF2018WCQ: #zambia Vs #nigeria - Confusion Among Technical Crew? See Photos by solaugo1(op): 10:40am On Oct 09, 2016
PoliticsUPDATE: Rivers State Election Tribunal - Gov. Wike Gave N100m To Justice Muazu by solaugo1(op): 6:15am On Oct 09, 2016
UPDATE: Rivers State election tribunal - Gov. Wike Gave N100m to Justice Muazu Pindiga - Saharareporters

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SaharaReporters has learnt from sources at the Department of State Security (DSS) that the overnight raid on the residences of some nine court judges, culminating in the arrest of several of them, came as a result of petitions and decisions of the National Judicial Council (NJC), a statutory body that regulates the activities of judges.

Two DSS sources, however, stated that contrary to earlier reports, the Supreme Court nominee for Chief Justice of Nigeria, Justice Walter Onnoghen, was not targeted in any of the raids conducted so far. Justice Onnohen reportedly raised alarm to friends when he noticed police action next to his residence as a team of security agents swooped on his next door neighbor, Justice Sylvanus Ngwunta. A press release issued by the DSS indicated that Justice Onnohen is not under investigation, SaharaReporters learnt that the justice's appointment is being fast-tracked to become the CJN in a few days.

However, two Supreme Court justices, John Inyang Okoro and Sylvanus Ngwuta, were arrested in connection with the receipt of bribes from Governor Nyesom Wike of Rivers State. Justice Ngwuta reportedly traveled to Qatar to receive bribes that he shared with Justice Okoro and other justices in order to help Mr. Wike to win a case at the Supreme Court regarding his disputed election. During a search of his home Justice Ngwunta was in possession of N35,208m, $319,475, 25,890 pounds and 280 Euros

The two judges have been linked with massive properties development in Abuja and Calabar. Justice Okoro is said to be building seven houses simultaneously in Calabar with the help of former Governor Godswill Akpabio and his predecessor Udom Emmanuel in Akwa Ibom state. Justice Okoro had N4.35m, $38,833 and 1000 Euros in his possession during his arrest this morning.

SaharaReporters learned that Governor Wike sprang up late at night to obstruct the arrest of a judge in Port Harcourt. The altercation that ensued created a tense atmosphere between the Governor and security operatives sent to arrest the judge.

One source told SaharaReporters that the judge involved was Justice Abdullahi Liman of the Federal High Court in Port Harcourt. Justice Liman, who is yet to be apprehended reportedly took $2million from Ahmed Makarfi-led faction of the Peoples Democratic Party to give a judgement that “overthrew” the faction led by a former governor of Borno state, Ali Modu Sheriff. Governor Wike reportedly transferred the funds in cash to Liman in Ghana, before it was ferried to his home in Port Harcourt. The bribe was to be shared between Lima and the Chief Judge of the Federal High Court of Nigeria, Justice Ibrahim Auta. When the team arrived the house in Port Harcourt where the loot was kept Gov. Wike mobilized his men to counter the DSS team with the aid of the State’s Police Commissioner. Another source also stated that one Justice Uche Nma Agomoh of the Federal High Court in the same city who was a lackey of the former president of the Nigerian Bar Association, Joseph Daudu was also involved in the scam.

A statement issued by the DSS stated that their team was obstructed by the governor and some thugs with the help of officers from a sister agency, which SaharaReporters learnt is a reference to the Nigerian police.

A security source claimed that Governor Wike left when confronted by police and DSS agents who threatened to shoot him, however, the obstruction aided movement of the cash found on the property. Governor Wike told a different version to the press, claiming he did not know who the judge was.

As early as 11 p.m. Nigerian time, the siege on the homes of judges became public knowledge when DSS agents raided the home of a young judge, Dimgba Nnamdi, who apparently has been a thorn in the side of the DSS lately. When the siege was over, the judge's brother had been brutalized, after which the security agents showed their victim a "search warrant" meant for Justice Okoro. Justice Dimgba Nnamdi was "roughened up" but not immediately arrested. However, a DSS source stated Justice Dimgba is guilty of corruption and had been arrested as well.

Justice Muazu Pindiga, who was arrested in Gombe, was transported to the DSS headquarters in Abuja. A DSS source told our correspondent that Justice Pindiga was cooperating with the DSS regarding his role in a bribery scheme over the Rivers State election tribunal from which he was removed as a judge as Saharareporters exposed him for receiving N100m from Governor Wike.


SaharaReporters learned that Justice Muhammad Ladan Tsamiya, an Appeal Court justice who was recently "compulsorily retired" by the NJC, was not home when a DSS team invaded his home in the Gwarimpa area of Abuja, he reportedly surrendered to the DSS later this morning.

One of the most dramatic scenes took place when the DSS team stormed the home of Justice Adeniyi Ademola. When the team ordered Justice Ademola to come out, the judge claimed he was not home, but his cellphone signal gave him away. He was subsequently arrested with at least N300 million found in different local and foreign currencies in his bedroom. Specifically the same of N54m cash, $171,779. 4,400 Euros, 1,010 Rupees, and 80 pounds was found in his residence.

A different team also arrested Justice Kabiru Auta in Kano. One DSS source told our reporter that the raids were meant to be carried out by joint DSS and the Nigerian police teams, adding that the police bungled some of the raids by apparently tipping off their targets.

Several security agents stated that the raids took place following independent investigations that were triggered by petitions submitted to the NJC against some of the judges. According to one of the operatives, none of the nine judges targeted haven't spent their salaries in the last two years.

One source revealed that the raids were originally planned for last week, but had to be postponed for "strategic reasons."

A statement issued by the DSS stated that the agency had recovered large sums of foreign and local currencies. The DSS gave a breakdown of the recovered funds as follows:

SUMMARY OF RECOVERED MONEY

1. NAIRA - N93,558,000.00
2. DOLLARS - $530,087
3. POUNDS - £25,970
4. EURO - €5,680

Other foreign currencies were also recovered. The funds were recovered from just three of the arrested judges. The DSS revealed that its operatives also seized banking as well as real estate documents from several judges. The agency is making preparations to arraign the arrested justices in court early next week.

http://newsnownigeria.com.ng/update-rivers-state-election-tribunal-gov-wike-gave-n100m-justice-muazu-pindiga/
PoliticsUPDATE: What We Found In Arrested Judges’ Homes – DSS (see Amount Per Judge) by solaugo1(op): 5:30am On Oct 09, 2016
The Department of State Service (DSS), on Saturday revealed that it found stacks of pounds and dollars and Naira suspected to be proceeds of fraud during its search of the homes of justices of the Supreme Court and some judges across the country.

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The DSS said it had deployed intelligence to track down missing two million dollars believed to be a proceed of fraud found in a judge’s house. This is contained in a statement signed by an official of the service, Mr Abdullahi Garba, and made available to newsmen in Abuja.

“In one of the States where the Service’s operations were conducted, credible intelligence revealed that the judge had two million dollars stashed in his house. “When he was approached for due search to be conducted, he, in concert with the State Governor, mobilised thugs against the service team.

“The team restrained itself in the face of unbridled provocative activities by those brought in by the governor. “Unfortunately, the judge and governor also engaged the tacit support of a sister security agency’’, Garba said. He said: “the service surveillance team noticed that upon frustrating the operation, the judge with the active support of the governor craftily moved the money to an unknown location which the service is currently making effort to unravel.’’

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Garba, however, said the DSS had in the past days embarked on series of special sting operations involving some judges of the Supreme, Appeal and High Courts. He said the operations were based on allegations of corruption and other acts of professional misconduct by the suspected judges.

According to him, the service’s action is in line with its core mandate. “We have been monitoring the expensive and luxurious lifestyle of some of the judges as well as complaints from the concerned public over judgment obtained fraudulently and on the basis of amounts of money paid.

“The judges involved were invited, upon which due diligence was exhibited and their premises searched. “The searches have uncovered huge raw cash of various denominations, local and foreign currencies, with real estate worth several millions of naira and documents affirming unholy acts by these judges’’, he said.

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Garba added that some of the judges had made useful statements while a few declined even with the glaring evidences that were found against them. “The summaries of the recovered money include N93, 558 million $530,087, £25,970 and €5,680.

“Other foreign currencies were also recovered from just three of the judges. “This seizure is in addition to other banking documents, including real estate documents’’, the statement said. According to the statement, preparations are ongoing to arraign the judges in a competent court of jurisdiction in line with the laws of the country.

“The service has never invited Justice Walter Onnoghen of the Supreme Court for investigation, neither is he being investigated. “The service has tremendous respect for the judiciary and would not do anything to undermine it or its activities.

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“The service will also join hands with this noble institution in its fight to rid it of few corrupt judges whose actions are undermining not only the judiciary but the common bond of our national life’’, Garba said. The statement, however, said the current operation would be sustained till sanity and sanctity were restored to the esteemed third arm of government and public confidence regained.

Garba also urged members of the public to avail the service of any information which could assist in this drive to rid the nation of corrupt practices and tendencies.

http://newsnownigeria.com.ng/update-found-arrested-judges-homes-dss-see-amount-per-judge/
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PoliticsFG Declares Public Holiday To Mark Nigeria 56th Independence Anniversary by solaugo1(op): 4:19pm On Sep 29, 2016
ABUJA – The Federal Government has declared Monday, October 3, as Public Holiday to mark Nigeria’s 56th Independence Anniversary.

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This was contained in a statement signed by the Acting Permanent Secretary, Ministry of Interior, Alhaji Muhammadu Maccido and issued to Vanguard Thursday in Abuja.

“The Minister of Interior, Lt Gen (rtd) Abdulrahman Bello Dambazau, while making the declaration on behalf of the Federal Government, congratulates Nigerians at home and abroad on the commemoration of this year’s independence anniversary and assures them that Government is working assiduously to put in place various palliative measures to cushion the effects of the current economic challenges.

“The Minister enjoins all Nigerians to continue to support President Muhammadu Buhari in his avowed determination to build a strong, virile and united country in line with the dream of the country’s founding fathers”, the statement added.

http://newsnownigeria.com.ng/fg-declares-public-holiday-mark-nigeria-56th-independence-anniversary/
PoliticsProtests In Benin As INEC Announces Results (Photos Video) by solaugo1(op): 12:08pm On Sep 29, 2016
Protests have begun outside the off ice of the Independent National Electoral Commission (INEC). The protesters say they are protesting the alleged change of results by the electoral commission. Security officials have formed a barricade outside the INEC office to stall any breakdown of law and order.

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INEC has announced results of nine out of 18 Local Government Areas - Click Here with the All Progressives Congress candidate winning in five while the candidate of the Peoples Democratic Party has scooped the remaining four Local Government Areas.

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The APC won in Owan West, Egor, Igueben, Uhunwomnde and Oredo local government areas, while the PDP polled more votes in Esan West, Orhiomwon, Esan South-East and Esan North-East local government areas.


https://www.youtube.com/watch?v=wg2vpxkxx8M

http://newsnownigeria.com.ng/breaking-protests-benin-inec-suspend-announcement-results-photos-video-edodecides/

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