₦airaland Forum

Declares N0.20 per share interim dividend
African subsidiaries contribute 32% of the Group’s earnings

The Pan African financial institution, United Bank for Africa (UBA) Plc has announced its audited half year financial results ended June 30, 2017, showing remarkable performance across major metrics.
UBA grew its gross earnings for the period by 34.5 percent to N222.7 billion, as against N165.6 billion reported in June 2016. This impressive performance, which reflects the strong momentum of UBA’s business and its increasing share of customers’ wallet, was driven by the 44.3 per cent and 16.0 per cent growth in interest income and non-funded income respectively. The Group’s operating income stood at N161.8 billion, compared to N116.2 billion recorded in the corresponding period of 2016, representing a 39.2 percent growth.
Notwithstanding the impact of Naira devaluation and double digit inflation in Nigeria and a number of other African countries where UBA operates, the Group managed through its cost lines to deliver a sterling Profit Before tax (PBT) of N57.5 billion, representing a significant growth of 65.5 percent over N34.8 billion recorded in the corresponding period of June 2016.
In same vein, the Group recorded an unprecedented Profit After Tax (PAT) of N42.3 billion, translating to a 56.2 percent growth over the N27.1 billion recorded in the half-year of 2016. This profitability further reflects the earnings capacity of the Group and its capability to progressively deliver superior returns to shareholders.
While the Group closed the half year with Total Assets of N3.69 trillion, a growth of 5.3 percent, it prudently grew gross loans to N1.6 trillion, a 4 percent growth when compared to the Group loan book as at 31 December 2016.
Reflecting a strong capacity for internal capital generation, the Group’s Shareholders’ Fund grew by 8 percent to N483.1 billion, whilst it delivered an annualized 18.2% return on average equity (RoAE) and an Interim Dividend of N0.20 per Share.
Commenting on the result, Kennedy Uzoka, the Group Managing Director/CEO, said that “the results again demonstrate the strong momentum of the Bank, as we deliver continuous improvement across our businesses and key performance metrics.”
He further stated that the Bank’s “unwavering focus on customer service excellence is translating to strong operational and financial efficiency gains. We have achieved better pricing on assets and liabilities, leading to continued improvement in the net interest margin to 7.3%. Leveraging our service-focused strategy and treasury management, we grew non-interest income by 17% year-on-year, reinforcing our transaction-banking-led approach towards deepening financial inclusion in Sub-Saharan Africa.”
According to him, UBA has made considerable progress in its retail banking penetration, gaining market share in deposits, at a time when a sizeable percentage of households are challenged due to inflationary pressures on disposable income. The Bank grew its retail savings and current account deposits by 23% and 5% YTD respectively.
Also speaking on UBA’s financial performance and position, the Group CFO, Ugo Nwaghodoh said that the Bank had “a strong start in the year, despite protracted recession in Nigeria, our largest market. Our profit after tax of N42 billion translates to 18.2% return on average equity, broadly in line with our 2017FY guidance.”
He further said that the Bank’s African subsidiaries (ex-Nigeria) contributed 32% of the Group’s earnings, leveraging on digital offerings to gain market share across the different markets. “We maintain our discipline of banking only quality and profitable assets, a conservative stance which reflects on our asset quality. Notwithstanding consistent liquidity mop-up by the CBN, we maintained an average balance sheet liquidity ratio of 42%. Further reinforcing the Bank’s capacity is the strong BASEL II capital adequacy ratio of 20%, which underpins our ability to grow, as the macro risks decline, he said”
United Bank for Africa Plc is a leading pan-African financial services group, with presence in 19 African countries, as well as the United Kingdom, the United States of America and France.
UBA was incorporated in Nigeria as a limited liability company after taking over the assets of the British and French Bank Limited who had been operating in Nigeria since 1949. The United Bank for Africa merged with Standard Trust Bank in 2005 and from a single country operation founded in 1949 in Nigeria – Africa’s largest economy – UBA has become one of the leading providers of banking and other financial services on the African continent. The Bank provides services to over14 million customers globally, through one of the most diverse service channels in sub-Saharan Africa, with over 1,000 branches and customer touch points and robust online and mobile banking platforms.
UBA was the first Nigerian bank to make an Initial Public Offering, following its listing on the NSE in1970. It was also the first Nigerian bank to issue Global Depository Receipts. The shares of UBA are publicly traded on the Nigerian Stock Exchange and the Bank has a well-diversified shareholder base, which includes foreign and local institutional investors, as well as individual shareholders.

For the embattled Herbert Wigwe-led Access Bank Plc these are not the best of times as the bank continue to swim in the sea of controversy. And as it stands, the bank is fast becoming safe havens for fraudulent officials. For Access bank, it has been a case of one day, one trouble.
A senior banker with Access Bank Plc, Ladipo Branch, Mushin, Lagos, Beatrice Nwana, 33, has been arrested and arraigned before a Lagos Magistrate Court for allegedly obtaining the sum of $40,000 equivalent to N8,240,000 from Obinna Ezenwata under false pretence.
Also arraigned with her for the same offence was Okwudili Onyetube, a Vehicle spare parts trader in Oyingbo, Lagos.
Nwana, a native of Anambra State and Onyetube were arrested by the operatives of the Federal Criminal Investigation and intelligent department, FCIID, Alagbon, Ikoyi, Lagos.
After investigation, the two were arraigned before an Igbosere Magistrate Court, Lagos on a four-count charge of felony to obtaining money under false pretence and stealing.
Police prosecutor, DSP Henry Obiazi informed the court in charge No. C/53/2017 that the accused persons committed the alleged offence in February, 2015 in Okota, Lagos.
Obiazi told the court that the female banker connived with her accomplice to collect the alleged sum from the complainant with a promise to exchange it with naira equivalent, but that the two accused failed to provide the naira equivalent to the complainant and instead converted the money to their personal use.
He said that when all efforts by the complainant to retrieve his money from the accused persons since 2015 proved futile, he reported the matter to the police leading to the arrest of the accused persons.
Obiazi said that the offences committed were punishable under sections 411, 314 (1) (A) and 287 (5) (A) of the criminal Laws of Lagos State, 2015.
The accused persons pleaded not guilty to the alleged crime in the open court and Chief Magistrate O.A Komolafe granted them bail in the sum of N3 million each with two sureties in like sum.
Komolafe adjourned the cased till 19 September, 2017 for mention while the defendants were remanded in Kirikiri and Ikoyi prisons respectively pending when they will be able to fulfill their bail conditions.

Airtel Nigeria led by Mr. Segun Ogunsanya, may have to explain to the general public, the death of late Chika Alex-Etuk, who had a major injury in 2016 in Airtel office located at 11, Adeniran Ogunsanya Street, Surulere, Lagos State.
There are report that the mother of two was allegedly neglected by the communication giant after sustaining a major injury when she went to buy and register a SIM card for her phone in the premises of Airtel in Lagos.
According to the reports, on Thursday 29, December, 2016, late Chika visited Airtel office at 11, Adeniran Ogunsanya Street, Surulere, Lagos State to obtain and register a new Subscriber Identification Module (SIM) for her phone, meant for her two children South Africa.
At around 1pm, Chika at the Airtel premise and was asked to fill out a form by Airtel staff, which she did and she was immediately ushered in by one of the Airtel staff picture capturing, which was one of the requirements for the SIM registration.
As she stepped into the area, the tiled floor on the spot where she stood caved in and Chika fell into a sinkhole with her left leg stuck up to her knee. She sustained multiple lacerations to her lower leg, cuts around her thigh and went into shock for pain and loss of blood.
Her children were traumatised by the incident, which has affected them mentally. They were not shielded from the scene, they watched in horror as a chunk of their mother’s flesh laid on the ground while she yelled out, for hours, in pain.
The first son now ( has developed breathing problem, he is not able to sleep well, while the second son (age 6) is always in and out of hospital, not able to communicate or play with other children.
The incident plus the death of their mother has left the two boys severely traumatised, especial the six year old son who is always afraid to sleep at night because he wakes up sweating, screaming and calling out for the mum to come back home.
When we visited the family, the deceased six (6) years old son said he told the mother not to go out on that particular day.
THEMOMENT learnt the response of Airtel was practically non-existent when the accident occurred. They all first ran out of the building according to an eyewitness, few minutes later they came back sporadically, they just stood there and watched her as she laid in pain – some even ran away without looking back.
Eventually, the late Mrs. Chika Alex Etuk was taken to a near by hospital by her friend and other sympathisers where she was refused treatment because they could not handle the severity of the bleeding and injuries.
She was immediately rushed to St. Claire’s Hospital in Surulere, Lagos – the staff of Airtel Network did not make any attempt to rush her to a hospital or offer help in any way.
She was later admitted to the Emergency Ward of National Orthopaedic Hospital Igbobi, Lagos state, after a long stay in pain and agony at Orthopaedic hospital, she later died on the 30th of January, 2017 after a surgery was carried out on her leg as a result of the injury she suffered in Airtel’s property, due to their instructions.
The incidents that took place in the premises of Airtel Network, which lead to the death of late Mrs. Etuk, were preventable if not for the gross negligence of Airtel Network and their lack of human empathy.
This was corporate manslaughter.
To rob salt to the injury, we were reliable inform Airtel Limited offered Three million naira (£7000 pounds) to late Chika’s family as compensation so that the news will not go public. Mrs. Chika Etuk was the bread winner of her family, which Airtel Limited was made aware but they choose to make a mockery of her death knowing so many people who depended on her including her two young boys and aged mother.
The 43 years late Mrs. Chika Alex Etuk was a member of The Redeemed Evangelical Mission (TREM), a church worker in the We Care Ministry department of TREM, a faithful wife, a mother, a sister, a daughter, aunty, a giver and true Christian.
Airtel Limited, we gathered, has done nothing but offer empty words of fake condolence in a series of letters in order to prevent a law suit.
Now two children of the ages 6 and 8 are left without a mother because of their callousness.
They further insulted the family by offering them £7000 to cover up the story, even though Airtel is a multi billion dollar company.”
Our effort to get the corporate department of Airtel to react to the story prove abortive as at press time as there were no response to SMS sent non response to call put across.

Millions of 9Mobile customers in Cross River State are currently frustrated over a total network failure.
We gathered that the challenge, which has lasted for over 48 hours has crippled businesses and disconnected communication among family members and friends.
A businesses operator at Bedwell Street, close to Watt Market, Regina Akpan told our correspondent that for two days she has not used her 9 Mobile line to transact business.
“I have been recording poor business since yesterday,” she lamented.
Lamenting further, she said “It has not been so bad but what I experienced these few days calls for concern.
“I was expecting that the change from Etisallat to 9 Mobile will bring good fortune to us the users of the network but what I have seen, one has to consider so many options.”
She said she had lost between six to seven thousand naira during the period, adding that most of her customers were now patronizing other call business operators who used other networks.
“I have been one of those who make good noise about 9 Mobile, but what I have experienced these days is so disappointing”, she added.
The management of 9 Mobile, according to our source, has not informed the customers why they are out of service.
When we visited 9 Mobile offices at Etta Agbor in Calabar, many customers were seen complaining of no service.
They said changing from 9 Mobile at this time to another network will affect their businesses.
Meanwhile, when we made several efforts to speak with the management of 9 Mobile at Etta Agbor office in Calabar, the staff referred our correspondent to Lagos and declined further comment.
When asked for the Manager or the Deputy, the staff became infuriated and left.
At the time of filling this report, many customers were still been seen entering the 9 Mobile office asking for explanations.

Mrs. Folorunsho Alakija is a philanthropist and owner of Rose of Sharon Foundation, business tycoon involved in the fashion, oil and printing industries. She is a devout Christian and also founded the Folorunsho Alakija Scholarship Scheme, which has consistently aided quite a number of indigent Nigerians who cannot afford good and quality education. Mrs. Alakija, who celebrated her 66th birthday recently, share with us the secret to her looking ageless and how she feels being the richest woman in Nigeria

How do you feel being referred to as Nigeria’s richest woman?
I didn’t say so; if that is what people say, I claim it and I pray that the Lord will do more in Jesus name.

What’s your advice to aspiring women entrepreneurs?
What I have to say is that they must make sure that it is coming from their hearts; it has to be their hearts’ desire because there are many challenges to be faced. Nothing goes from the lowest level to the highest-level overnight. Perseverance is a tool that we must imbibe and they must realise that nothing is dropped on anybody’s laps but working hard to achieve an objective is key. Everybody can aspire that they want to be one thing or the other, but I assure you, there are challenges all the way and hurdles. So waiting at a particular spot doesn’t help you achieve anything in life; they must be ready to face the challenges they will meet along the way but they should look at the light at the end of the tunnel. Women must find strength and follow towards it and make their way because there is always light at the end of the tunnel. Distractions will come, challenges will come and all sort of huddles to drag you down. But if you are focused right from the beginning and what you are doing comes from your heart, one will definitely achieve her goal. It also applies to every aspect of life.

Could you share with us five tips to doing business successfully in Nigeria?
There are a lot of challenges in doing business in Nigeria. There is no way that we will talk about it and not mention corruption. Corruption is one challenge. Infrastructure is another challenge but corruption will face you stark naked in your eyes but you have to overcome it and the only way you can overcome it is by holding strong unto your God. You have to trust God for everything; you understand He will always make a way for you. Because there is no way you will talk about God without facing challenges. There will be issues when you will find out you have to compromise in order to have your way. Things that your religion doesn’t permit, it depends on how you hold on to your God so that He can make a way for you. Another challenge you face is infrastructure for your business, starting with power. If there was adequate power, profit made would have been doubled. You will have challenges with those who are trying to take what you have made. Armed robbers and those who think why it should always be you and not them. That is another challenge. The road network is another challenge. Finding funding, which bank is going to believe in you to want to give you a chance? But I always believe in starting small. I am the greatest advocate of Ayo Megbope, who started her moi moi business with N1000 and today she is raking in hundred thousand dollar annual turnover and that has brought her into the limelight. The fact that she started small, she was focused and was determined, took her to the White House on two occasions. The list is endless but like I said you must be determined, you must be focused and determined and you will get to your dreams.

You recently celebrated your 66th birthday. How do you relax?
You’d be shocked but I relax by working and doing more work because I enjoy working but I look forward to the times I can be with my family and relax but I also enjoy doing the work of the Lord. I love working a lot.

What is the secret to your looking ageless?
That is the grace of God upon my life. I started exercising three or four years ago, three times a week to help me keep fit. But, I look for any opportunity to tell my trainer not to come. So I don’t know if that has anything to do with it. I eat anything and everything, so I don’t think it is that. I’m learning to eat right so I would attribute it to the grace of God and the fact that I am surrounded by friends and family one of whom is Mrs. Judith Alakija. So this gives me peace and if you have peace, you have joy and if you have joy, you will continue to look younger than your age.

What would you want to be remembered for?
I have heard that a lot of times. I find it difficult to answer. In fact I really want to live that to those coming behind me to answer. Maybe someday when I must have gone to the great beyond, I can look down and begin to listen and watch and hear what they have to say about me.

What was the greatest decision you ever took?
That was becoming born again and I thank God that I took that decision. That was 26-years ago, 1991 precisely. It was a sad experience I had and I was looking for God everywhere and I realised that the place to find him was in my heart; to give my heart to him, so I gave my life to Jesus and everything became beautiful.

You are the grand patron of the Africa Cinematography Festival (ACF). Why are you throwing your name behind this project?
I believe in the youth and I believe in the ability of Nigerians. Each and every one of us is extremely hard working as a people. We are visionaries and we have the abilities to become whatever we choose to be.

And as for ACF, we are focused in the film industry and there are so many talented Nigerians both young and old. We must not let the older generation go away with the talents they have. We can’t move the movie industry forward without ensuring that we bridge the gap between them and the young talents to keep moving the industry forward. We must not let the talented ones be discouraged. The talent in the industry in Nigeria and Africa is awesome; we must showcase it to the world. We must let the world know that we must be reckoned with. For too long we have been kept down, we need to join the race. We are tired of all the negative reports about our country. We need to join the race and let the world know that there is a lot that can be achieved starting from Nigeria, there is a lot that we can gain as a people that all of us a can be proud of, so we need to project that to the world. We have to let those in authority know that there is a lot the film industry can contribute to the economy of Nigeria. We must let the youth know that they can contribute to the growth of the economy.

I share the view that the future of a country, nation or people is a direct function of what the younger generation makes of it. This fact, as common a cliché as it is may have become in our national discourse, stresses the need to prioritise the empowerment of those within the bracket.
Our youths need to be taught life skills and be empowered with adequate capacity required to enable them become major contributors to the economy and society. Obviously, it is a worthwhile venture to undertake.
Achieving this of course requires strategic participation from players in both the public and private sectors. It is no mean feat, but the reward is greater and this is the satisfaction.
This why I believe the Africa Cinematography Festival (ACF) is a platform that I am proud of and also share huge optimism in its ability to contribute immensely to the overall development of the nation and particularly the movie industry.

Are you saying this AFG could be used to rebrand Nigeria?
Of course, it is part of the rebranding of Nigeria and to uplift the economy; everything should not just be oil all the time. We have clamour for diversification for a long time; I believe this is a good way to diversify the economy at this trying times. We did not realise the potentials that are within that are innate in our people just because we had that recourse and cashed in on it. We did not look within or around us, we did not look inwards, this is one of the needs to push forward. So, this is one of the gap feeling initiatives that need to take off and find its mark.

For the embattled Herbert Wigwe-led Access Bank Plc these are not the best of times as the bank continue to swim in the sea of controversy. And as it stands, the bank is fast becoming safe havens for fraudulent officials. For Access bank, it has been a case of one day, one trouble.
A senior banker with Access Bank Plc, Ladipo Branch, Mushin, Lagos, Beatrice Nwana, 33, has been arrested and arraigned before a Lagos Magistrate Court for allegedly obtaining the sum of $40,000 equivalent to N8,240,000 from Obinna Ezenwata under false pretence.
Also arraigned with her for the same offence was Okwudili Onyetube, a Vehicle spare parts trader in Oyingbo, Lagos.
Nwana, a native of Anambra State and Onyetube were arrested by the operatives of the Federal Criminal Investigation and intelligent department, FCIID, Alagbon, Ikoyi, Lagos.
After investigation, the two were arraigned before an Igbosere Magistrate Court, Lagos on a four-count charge of felony to obtaining money under false pretence and stealing.
Police prosecutor, DSP Henry Obiazi informed the court in charge No. C/53/2017 that the accused persons committed the alleged offence in February, 2015 in Okota, Lagos.
Obiazi told the court that the female banker connived with her accomplice to collect the alleged sum from the complainant with a promise to exchange it with naira equivalent, but that the two accused failed to provide the naira equivalent to the complainant and instead converted the money to their personal use.
He said that when all efforts by the complainant to retrieve his money from the accused persons since 2015 proved futile, he reported the matter to the police leading to the arrest of the accused persons.
Obiazi said that the offences committed were punishable under sections 411, 314 (1) (A) and 287 (5) (A) of the criminal Laws of Lagos State, 2015.
The accused persons pleaded not guilty to the alleged crime in the open court and Chief Magistrate O.A Komolafe granted them bail in the sum of N3 million each with two sureties in like sum.
Komolafe adjourned the cased till 19 September, 2017 for mention while the defendants were remanded in Kirikiri and Ikoyi prisons respectively pending when they will be able to fulfill their bail conditions.

The Joint Admission and Matriculation Board, JAMB, has fixed minimum cut off marks for Nigeria’s tertiary institutions.

The minimum cut off marks for admissions into universities in Nigeria was set for 120, polytechnics and colleges of education pegged at 100, while that of innovative enterprising institutes was pegged at 110.

Institutions are, however, at liberty to raise their cut off marks for admission above the minimum set by JAMB.

Also, admissions into public degree awarding institutions for the 2017 UTME examination will end on January 15, 2018 while for private institutions, it ends on January 31, 2018.

Also, decisions on first choice candidates by universities will end on October 15, and second choice candidates will end on December 15; after which the remaining students will be available in the market place for other institutions till the January closing dates.

These decisions were taken at the 2017 Combined Policy Meetings on Admissions into Tertiary Institutions in Nigeria which ended on Tuesday.

The Registrar of JAMB, Ishaq Oloyede, said a Central Admission Processing System, CAPS, will be used to streamline admission processes among institutions, as it addresses challenges associated with the former approach.

Mr. Oloyede also said that Institutions could conduct dual mode system which involves both manual and the newly introduced CAPS.

He advocated a dynamic educational policy as related to admissions.
“All over the world, there is agitation for dynamic educational policy,” he said. “JAMB only admits for National Diploma, not Higher National Diploma; so why should we use the same requirement for ND and BSC, that is unreasonable parity.”

“We should not be sentimental in fixing our cut off mark; we need not over-dramatise issue of cut off mark.”

He said candidates’ applications to study agriculture was very low while applications to study medicine and health sciences increased.

Speaking on illegal admissions, he said the process is now automated because the Registrar of JAMB must approve all candidates.

“About 17,160 students were admitted without JAMB across institutions in Nigeria,” he said.

The Minister of Education, Adamu Adamu, also formerly announced a lift of the ban on the conduct of Post-UTME examination as a prerequisite for admission into tertiary institutions.

“Cancellation of Post- UTME is a mistake,” he said.

He noted that banning of post-UTME led to a lot of irregularities by candidates and some institutions.

The minister explained that with the lifting of the ban on the conduct of the examination, institutions are now at liberty to conduct, while adding that fee for the examination should not exceed N2000.

He explained that the 2016 admission process was a huge success, while expressing optimism that government is working assiduously to make that of 2017 better.

Mr. Adamu noted that government is also making efforts to expand access and ensure equality in the education sector.
He expressed optimism that a substantial number of candidates who sat for the 2017 UTME would gain admission into tertiary institution.

“Over 1.6 million candidates applied for degree courses, over 17,000 for ND as well as NCE,” he said.


https://www.google.com.ng/amp/www.premiumtimesng.com/news/headlines/241139-breaking-jamb-fixes-cut-off-marks-universities-polytechnics-colleges-education.html/amp

Sterling Bank on Thursday got more than what it bargained for after informing a customer that it does not accept the National Identification Number (NIN) issued by the Nigerian government.
There are reports that the drama played out on social media platform, Twitter.
NIN is a slip given to Nigerians after registration. It precedes the final issuance of the national identity card.
A user @akinpeluola had tweeted at the bank requesting to know why it doesn’t accept NIN for account opening.
“Please why is @Sterling_Bankng not taking NIN for opening current account?” the handler quipped.
Replying, Sterling Bank tweeted: Hello, thank you for contacting us. Please be informed that the temporary NIMC slip is not a valid means of identification.
The response drew anger of Twitter users who accused the bank of acting above the law.
Some also accused other banks of rejecting the NIN.
A few reactions as follows…@dhotkayThis needs to be addressed as most banks don’t accept this temporary slip.
Akinbinu Anthony O‏ @o_akinbinusaid: Imagine a bank operating under the law of a land upturning the existing law of the land! This bank need a strong warning!
Victor M‏ @OfforOra: They’ve kept my life on hold with their ignorance
@Khaleed_ng: Tell them @myfcmbis not accepting the temporary@nimc_ng card too.
@xxxcharley99 I think what Nimc needs to do is make an announcement on the withdrawal of the old national ID to pave way for banks to accept the NIN slip
The tweets eventually got the attention of the National Identity Management Commission (NIMC), which waded in with a stern warning to Sterling Bank.
Tweeting via its @nimc_ng, the government agency wrote: Dear@Sterling_Bankng, in your interest, note that your help desk does not have the powers to make laws for Nigeria or amend existing laws.
Recall that two weeks ago, NIMCdeclared NIN compulsory for all citizens.
The Director General, Aliyu Aziz, added that the agency has a target to register 28 million Nigerians into the NIN system by the end of 2017.

Bill Gates, Warren Buffett, and Jeff Bezos may be the richest men in the world, but they aren’t the only billionaires.
There are 2,043 people across the globe with three commas in their net worths, according to the 2017 Forbes Billionaires list. The 23 wealthiest have $1 trillion collectively.
In 2017, 10 of the world’s billionaires — fewer than 1% — are black, down from 12 last year, reports Forbes contributor Mfonobong Nsehe. Three of the 10 are women. All but one, Isabel Dos Santos, are billed by Forbes as self-made.
To compile the full list, Forbes uses stock prices and exchange rates to estimate the net worths of the world’s richest people, and then ranks them based on their wealth. This year’s list was created using data from February 17, 2017, but Forbes also maintains a current snapshot of the world’s billionaires, updated daily.
And going by this critaria, there are three Nigerians and an equal number of Americans on the list of wealthiest blacks in the world.
Amazingly all the four others on the list are citizens from the African continent; including Sudan, South Africa, Angola and Ethiopia.
However, of the three women on the list two are also from Africa.
See the richest 10 black billionaires in the world, according to the 2017 Forbes Billionaires list.

Mohammed Ibrahim: $1.14 billion
Self-made billionaire, 71-year-old Mohammed Ibrahim, was born in Sudan and now lives in the United Kingdom, where he is the 11th wealthiest citizen. Ibrahim became a billionaire after selling his telecommunications company, Celtel International, in 2005, according to Forbes. Now he spends much of his time focusing on improving the lives of African citizens through the Mo Ibrahim Foundation.

Michael Jordan: $1.31 billion
One of the most successful athletes of all time, Michael Jordan, 54, made a total of $90 million as a basketball player, according to Forbes. Since retiring from the NBA, he has amassed the majority of his wealth through his relationship with Nike and other corporate partnerships. Jordan, who also owns a stake in the Charlotte Hornets, now makes more in one year than he did during his entire professional basketball career, as Business Insider’s Cork Gaines reported.

Folorunsho Alakija: $1.61 billion
Folorunso Alakija, vice chair of Nigerian oil company, Famfa Oil, got her start in business as the founder of an elite Nigerian fashion label, according to Forbes. The 66-year-old self-made billionaire lives in Lagos, Nigeria and has four children. Her son, Folarin Alakija, recently married Iranian model, Nazanin Jafarian Ghaissarifar, in a lavish, multi-million dollar wedding, which took place in England.

Patrice Motsepe: $1.81 billion
South-African Patrice Motsepe, 55, founder of the mining company African Rainbow Minerals, was Africa’s first black billionaire. The father of three was also the first African to sign Bill Gates’ Giving Pledge, promising to donate at least half of his wealth to charity.
Motsepe and his wife, Precious created the Motsepe Foundation in 1999 to help create new jobs, support education, and improve the lives of children, the unemployed, and the disabled, among others.

Robert Smith: $2.5 billion
When Robert Smith, 54, left Goldman Sachs in 2000 to start his own private equity firm, Vista Equity Partners, his co-workers thought he was crazy. But since then, his success and wealth has sky-rocketed, landing him on the Forbes Billionaire list for the first time in 2016.
In 2015, Smith wed Hope Dworaczyk, a former Playboy playmate and mother of his young son in an incredible villa on the Amalfi Coast in Italy. The private-equity titan, who resides in Austin, Texas, added his name to the Giving Pledge earlier this year.

Oprah Winfrey: $3 billion
Oprah Winfrey, 63, is the only African-American woman to make the Forbes billionaire list. Winfrey overcame a tough childhood to become the well-known and beloved media mogul she is today. While generous with her wealth, Winfrey still maintains an enviable lifestyle.
Earlier this year, Winfrey delivered the commencement address at Smith College, telling graduates the secret to success is serving others.

Isabel Dos Santos: $3.1 billion
The wealthiest of the three woman to make this list, and the youngest black billionaire in the world, 44 year-old Isabel Dos Santos is the daughter of Jose Eduardo dos Santos, who has been president of Angola since 1979.
Her fortune comes from multiple investments, many of which are controversial and linked to her father, according to Forbes, although Dos Santos maintains her investments are private and independent.

Mike Adenuga: $6.1 billion
Nigerian Mike Adenuga, 64, is chairman of telecommunications company, Globacom, which has 36 million subscribers, as well as the majority owner of Lagos-based oil company, Conoil, according to Bloomberg.
While earning an MBA from Pace University in New York, he drove a taxi to pay the bills. Today, Adenuga, who has seven children, is the second-wealthiest man in Nigeria, according to Forbes.

Mohammed Al Amoudi: $8.4 billion
Mohammed Hussein Al Amoudi, 71, moved from Ethiopia to Saudi Arabia when he was 19, and began amassing his fortune from government-contracts in real estate and construction, according to Bloomberg. Now, the father of eight owns businesses across multiple industries, including oil, mining and agriculture, in Saudi Arabia, Ethiopia and Sweden.

Aliko Dangote: $12.2 billion
The wealthiest man in Africa is Nigerian Aliko Dangote, 60, who has been CEO and president of Dangote Group for 35 years. The majority of his fortune comes from a more than 90% stake in Dangote Cement, Africa’s largest producer of cement, which is traded on the Nigerian Stock Exchange. He is also an active philanthropist, serving as chairman of The Dangote Foundation, which focuses on education, agriculture and health-related initiatives.

Courtesy: Business Insider UK

With the rise of unemployment and severe economic hardship in Nigeria, there has been an increase in the number of Nigerians turning to betting as a way of life, especially to supplement their income.
Prior to this, betting has of course been prevalent in the country, but according to a poll conducted by NOIPolls, the increase in the number of online betting stores has helped improve anonymity of people involved in it and therefore enticed a lot more.
Betting is regulated by National Lottery Regulatory Commission (NLRC) which is empowered by the National Lottery Act, 2005 to regulate betting lottery in Nigeria.
The poll conducted reveals quite a lot about the state of betting in Nigeria. The major reasons Nigerians engage in the activity are revealed in the infographic below:

Major reasons betting is rising in Nigeria
The quest for quick money lures many into betting.
Unemployment
Greed
Economic hardship
Poverty
Recreation
Passion for sports
Peer group
The above infographic explains the prevalence of betting in Nigeria. 48% of those involved are between the age of 18-35. The geo-political zone with the most people involved in betting is the South-east with 58% of the residents.
This includes such states as: Akwa Ibom, Cross River, Bayelsa, Rivers, Delta, Edo.
NOIPolls says: “In a bid to ascertain the prevalence of betting in Nigeria, respondents were asked to express their opinions on its prevalence and analysis of results revealed that a large majority (77 percent) stated that betting is prevalent in Nigeria.
“Residents from the South-West zone (92 percent) had the highest prevalence, while the North-west zone (57 percent) recorded the lowest prevalence. Interestingly, analysis by age-groups shows that those aged between 18 – 35 years recorded the highest percentage (79 percent) of respondents who stated that betting in Nigeria is prevalent.”

Most popular platforms are:
Bet9ja (64 percent),
Nairabet (34 percent),
Pool companies (22 percent) and
Lotto (20 percent).

There were earlier reports that an unnamed agent of NairaBet, a sports betting platform, has killed himself after he could not pay a customer who allegedly won a N600k bet.
Residents of Obadeyi Ajala woke up on Wednesday, May 24, to find the remains of the young man dangling from a rope in an uncompleted shop at Ajala bus stop, on the Lagos-Abeokuta Expressway.

‘He has done a good job, but someone else should also try his luck’

Africa’s richest man has expressed his desire to buy Arsenal and declared his first order of business would be to sack Arsene Wenger.

Nigerian billionaire Aliko Dangote is a Gunners fan has never hidden his wish to purchase the club even though current owner Stan Kroenke has no plans to sell.

Dangote spoke hypothetically about what he would do if he was to take over at the Emirates.

He told Bloomburg: ‘The first thing I would change is the coach. He has done a good job, but someone else should also try his luck.’

And the 60-year-old pledged to make his move for the club following the construction of an £8.5billion oil refinery in Lagos.

Kroenke owns 67 per cent of Arsenal with Russian billionaire Alisher Usmanov in control of a 30 per cent stake.

Dangote, who is worth £10bn, believes he could tempt both men to leave the club in his hands if a suitable deal was on the table.

He added: ‘If they get the right offer, I’m sure they would walk away. Someone will give them an offer that will make them seriously consider walking away.

‘And when we finish the refinery, I think we will be in a position to do that.’

Fortunately for Wenger, Kroenke is adamant he will not sell up, with the American backing his long-term manager to bring success back to the club this season.

Aiteo Chief Executive Officer, Benedict Peters, is the latest Nigerian oil mogul to be named in the case surrounding the bribery allegations against former Nigerian Oil Minister, Diezani Alison-Madueke.
Three London properties linked to the alleged bribery of Mrs. Alison-Madueke have been frozen under the UK Proceeds of Crime Act, at least one of which is owned by Mr. Peters.
The order, issued in September 2016 and obtained by Africa Confidential, forbids defendants Benedict Peters, Mrs. Alison-Madueke, Atlantic Energy’s Kola Aluko and Jide Omokore, Christopher Aire (a jeweller for Mrs. Alison-Madueke) and Donald Amamgbo (her cousin) from disposing of or dealing with the properties.
Messrs Alison-Madueke, Aluko and Omokore were named in the U.S. Department of Justice’s (DoJ) asset forfeiture, which stated that the same London properties totaling more than £10m were bought for the oil minister in order to secure lucrative Strategic Alliance Agreements (SAAs), which saw prized Nigerian oil assets passed to the minister’s cronies for pittance.
Mr. Peters’ company Aiteo has been linked to the 2015 INEC bribery scheme that saw Mrs. Alison-Madueke’s son, Ugonna Madueke, distribute $115million to INEC officials via Fidelity Bank in 2015.
But the inclusion of Mr. Peters as a defendant in the London case, which relates to an attempt to influence the former Minister’s contracting decisions, suggests that international investigations could be more wide ranging than was previously known.

Mr. Peters’ company, Aiteo, did not directly benefit from the SAAs, but it flourished under Mrs. Alison-Madueke’s oil ministry. As well as term contracts from the NNPC, Aiteo benefitted from the oil swaps, and bought Shell’s prize asset, OML 29. With Peters now in the frame, these deals could face the same scrutiny from international law enforcement as the notorious Atlantic SAAs.

London, via Houston
Mr. Peters has admitted to being the owner of the Seychellois company, Rosewood Investments Limited, who until now has been known as “co-conspirator #2” in the DOJ’s case. Rosewood Investments bought the £2.8m luxury flat in Harley House, London, in March 2011, with the help of London-based estate agent Daniel Ford.
Mr. Peters later bought luxury furnishings for the flat from Mrs. Alison-Madueke’s favourite Houston store, according to the US documents. The DoJ affidavit says over the course of two days in May 2011, Mr. Peters bought over $107,000 of furniture – including a sideboard worth more than $10,000 – that was later shipped to the UK and installed at Harley House.
Construction workers renovating Harley House over the summer of 2011 were introduced to Mrs. Alison-Madueke as “the architect”, and Kola Aluko, who was co-ordinating the renovation of Harley House in the summer of 2011, forwarded the plans for the apartment to the former minister.
Mr. Peters could not be reached to comment for this story. All his known telephone lines were switched off the multiple times PREMIUM TIMES called in three days. He is yet to respond to an email inquiry sent to him.
An official of his Sigmund Group, who was contacted by telephone, said he could not speak for Mr. Peters, and would not provide his latest contact details.

Diezani’s deals: the swaps and the blocks

The Swaps
Mr. Peters ran tank farms under the aegis of Sigmund Communnecci Limited until 2008, when a “re-branding” exercise renamed the company to Aiteo. Its success under the Goodluck Jonathan government has made it perhaps Nigeria’s largest indigenous oil and gas company.
Aiteo entered into its first offshore processing agreement (OPA) contract with Nigerian National Petroleum Corporation’s Duke Oil in 2010 which gave the company 30,000 barrels of oil a day. Under the contact terms, Aiteo was supposed to refine the crude and import a set value of oil products in return. That deal was periodically renewed, but it was not renewed in 2014.
In January 2015, Aiteo received another OPA deal (90,000 barrels per day) directly from NNPC, but the contract was cancelled by the Buhari administration. That same time, the company took over Duke Oil’s 30,000 barrels per day OPA. The deal was also cancelled shortly afterwards.
Former Governor of Central Bank, Lamido Sanusi, published an explosive memo in 2014 that pointed to possible NNPC losses of $20billion between January 2012 and July 2013, and listed the oil swaps as potential leakage points. Experts pointed to numerous loopholes in the contracts that could have cost NNPC millions – including a clause stating that records relating to the contract could be disposed of after a year.
President Muhammadu Buhari cancelled the swap contracts as soon as he assumed the Nigerian presidency in 2015, but it took until March 2017 for Aiteo to repay $202m in “reconciliation” charges – and there has been little transparency over how this figure was arrived at.

The blocks
By arguably the most lasting deal that Mrs. Alison-Madueke presided over during her time at the oil ministry was the sale of Shell’s onshore assets in the Eastern Niger Delta. The jewel in the Shell’s divestment portfolio was the Nembe Creek Trunkline, a critical crude oil pipeline that takes crude from the Delta to Bonny Export terminal – and the OML 29 oil block.
The Aiteo consortium was announced as the highest bidder for the most valuable block, OML 29, in March 2014, just a month after Sanusi’s memo was published.
Aiteo and its partners, Igho Sanomi’s Taleveras and a little known trader, Tempo Energy, bid $2.85m for the block, which commentators considered inflated. None of the companies had experience of production, and Shell encouraged the consortium to join up with a company that did.
It took over a year to for the deal to be completed, and in that time, Shell’s Chief Financial Officer warned investors that it was “difficult to predict” how the company would get approval of the sales from the government. Under the Petroleum Act the Minister has power of approval for the sale of oil licences in which NNPC has stake.
The purchase of the block was finally completed just days before the 2015 election, financed by Citi Bank, First Bank, Zenith Bank, and Union Bank Nigeria. The CBN demanded the reclassification of the loan in summer 2016 – as the Nigerian banking sector reached near crisis because of its exposure to Jonathan era deals.
The transaction was also partly funded by $512m of “seller financing” from Shell – under which Shell retains the exclusive rights to market oil from the block for the first five years.

Mere moments have passed since Sam Vokes headed Burnley into a 3-0 first half lead at Chelsea when there is a knock on the door at Diego Costa’s family home in north-eastern Brazil.

Sportsmail has arrived unannounced and uninvited but, standing on the doorstep of his childhood home, Chelsea outcast Costa puffs out his cheeks and shakes his head.

‘It’s going well for Chelsea, isn’t it?’ he grimaces. ‘The red card changed the game but anyway, you’ve come a long way and I have nothing to hide. Come on in.’

So in we go, to be greeted with smiles and handshakes from Costa’s parents, Jose de Jesus and Josileide, and a small entourage of family friends.

His father, known as Zeinha, is the man who named his son after Diego Maradona while Costa’s elder brother is Jair, after Jairzinho, the Brazilian icon of the 1970 World Cup.

Perching himself on a chair in the garden, Costa smiles ruefully: ‘It’s been a strange summer.’ Strange is one word for it.

After helping Chelsea to the Premier League title by scoring 20 goals in manager Antonio Conte’s first season at the club, Costa finds himself 5,000 miles from Stamford Bridge on the opening weekend of the new campaign.

Costa’s summer began with a text message from Conte, informing him his Chelsea career was over. Costa has not been at Chelsea since the FA Cup final in May and, during a half-hour conversation, the striker delivers a blistering retort.

He accuses Chelsea of treating him ‘like a criminal’ and refuses to rule out legal action. He says he will always keep Conte’s text message on his phone and claims the Chelsea manager ‘lacks charisma’. Costa also accuses Conte of blocking his contract negotiations in January.

Costa says he has been fined several weeks’ wages but is defying demands to return to train with the reserves. The Spain international insists he wants a transfer to Atletico Madrid resolved this month and that, meanwhile, he is ready to see out his Chelsea contract unpaid and train alone near his home in Brazil.

Jose Mourinho, Costa’s former manager at Chelsea, once described Lagarto — the player’s hometown — as so remote that it sits ‘beyond the sunset’. Located 80 miles inland from the coastal city of Aracaju, the capital of the Brazilian state of Sergipe, it is a modest place of refuge.

Lagarto has just over 100,000 inhabitants and is known for its farms growing cassava (a root vegetable) and tobacco but Diego Costa is the biggest show in town.

A life-size graffiti mural of Costa in Chelsea blue gleams on one streetside wall. Over the past month, images have emerged of Costa going for a Jet Ski ride with his dog, attending the circus and partying in an Atletico shirt.

His family have never moved house. ‘Only renovated,’ he grins. ‘You don’t forget where you came from.’

The mantelpiece bears mementoes of life in England and Spain, including his trophy for making the PFA Team of the Year, man-of-the-match awards from games against Everton and Crystal Palace and the Zarra prize as the Spaniard who scored most goals in La Liga in 2014.

As the final moments of Chelsea’s 3-2 defeat by Burnley play out, his father peeks round the door. Zeinha shakes his head. Costa says: ‘They are two players down, to be fair, Dad.’ Another friend pops by: ‘Bring back Diego!’ he laughs. Costa grimaces.

As Chelsea chase the game, Costa’s intensity builds. David Luiz makes it 3-2 with two minutes left. Costa is off the settee and celebrating, dropping his phone.

‘The Premier League is the top. These moments, chasing a game, with seconds to spare. It’s what we live for. You saw Arsenal against Leicester? Madness. Then Liverpool? 3-3, last minute! Rooney has scored for Everton! I wouldn’t be human if I didn’t miss those moments.’

First things first, Costa is not expecting an SOS plea from Conte to return. ‘No,’ he insists. ‘You know that the manager doesn’t want me.

‘I am waiting for Chelsea to set me free. I didn’t want to leave. I was happy. When the manager does not want you, you have to go.

‘If you were to ask all my team-mates, they’d say the same. They send messages saying “I miss you” and that they love me.

‘I am always talking with the boys — particularly Cesc Fabregas, David Luiz and Willian. We have banter over WhatsApp.

‘They ask how I am. They really love me for the person I am. If they didn’t, they wouldn’t be saying they miss me and love me.’

So Diego, where did it all go wrong? ‘I cannot speak for other people, only for myself. I had a great season. I fought in every game until the last moment.’

It was not always a rose-tinted picture at Stamford Bridge. In January, Costa had been embroiled in a training-ground row with fitness coach Julio Tous.

Conte attributed Costa’s absence from the next match at Leicester to a niggling back problem. ‘No, no, no,’ Costa insists. ‘That was a punishment for the attitude I had shown and for not behaving in the best way.’

Then rumours of a move to China surfaced. It was smoothed over but tensions simmered. Costa had been close to agreeing a new deal at the club.

‘In January, things happened with the coach. I was on the brink of renewing my contract and they put the brakes on it. I suspect the manager was behind it. He asked for that to happen.

‘His ideas are very fixed and clear. I have seen the sort of person he is. He has his own opinion and that will not change.

‘I respect him as a great coach. He has done a good job and I can see that, but as a person, no. He is not a coach who is very close with his players. He is very distant. He doesn’t possess charisma.’

Mention of the word charisma brings us to Mourinho and Costa smiles warmly: ‘Jose has called me, direct to my phone, just to check I am OK and to see how I am.

‘He wished me good luck. I never had any problems with Jose, we have a strong relationship. Everyone was very sad when things didn’t work out in the end for him at Chelsea.’

Costa takes out his mobile, responding to a friend. Here Costa is king, the boy made good but who never forgets his roots.

He is buying land to launch his own football school that will be called Balon de Oro, after the Ballon d’Or, and he is working closely with the local authorities to improve lives for young people.

The 28-year-old striker works every day in the gym with a personal trainer and has been spotted spending his evenings playing Buraco, a card game similar to rummy, with friends.

‘What is happening now with Chelsea is sad,’ he says. ‘The text message — I understand it when a coach wants a different player.

‘Alvaro Morata is a great player. He had a great season in Madrid and actually with the way this crazy transfer market is, I think they got a good price for a young and talented forward. He will triumph at Chelsea, but there are ways of going about it. You don’t do it by text message. You should be honest and direct to someone’s face.

‘I was with the Spain national team, alone in my room, when it came through. It was a shock to get it like that. I was showing it to my team-mates and they could not believe how he had done it.

‘I was angry at the time. Now I am more calm. I have not deleted the message. If people accuse me of lying, I can show them. It was clear, saying that he didn’t count on me and wishing me the best for the future. Full stop.’

Costa insists Conte did not raise the issue with him after the 2-1 FA Cup final defeat by Arsenal. ‘No, no, no. There was no conversation or talks. Conte has his mentality. He thinks it’s the best way of working.

‘He arrived from an Italian league where everyone is very serious and arrived in a dressing room where there are maybe more jokes.

‘The worst bit of all this, it is for the fans. They have always treated me so well — always, always. For this, I am sad. I hope they understand things happen in football.

‘Conte is a great coach. He deserves to be where he is but it’s his opinion. He has his reasons.’

Costa says he is still in close contact with his team mates at Chelsea, including David Luiz
Costa says he is still in close contact with his team mates at Chelsea, including David Luiz
Costa says he gets WhatsApp messages from likes of Cesc Fabregas saying they miss him
Costa says he gets WhatsApp messages from likes of Cesc Fabregas saying they miss him
Costa may offer his gratitude to supporters but matters have threatened to turn nasty. His lawyer, Ricardo Cardoso, has warned that Costa will use ‘all legal mechanisms’ to force a transfer and alleged Conte’s conduct amounted to ‘discriminatory behaviour’.

Costa says legal proceedings are yet to begin, explaining: ‘At the moment, no. I want people to do things the right way.

‘Why won’t they let me go if they don’t want me? I have to do what I have to do. I have to think of myself. I’ve been a good boy here and tried to do the right thing.

‘My desire is to go to Atletico (where he played from 2010-14). I’ve spoken to Chelsea director Marina Granovskaia. I said, “If the manager doesn’t want me, I want to go to Atletico Madrid”.

‘I have rejected other offers. They want to sell me to China or other teams. The language is better for me in Spain. If I’m off, I’m going to the club I want to go to — not the club that’s paying the most.

‘Diego Simeone (Atletico manager) wants me. It is very clear. I have always had a bond with him. The fans and people love me there. They respect me.’

Costa accuses Conte of lacking charisma, and of being cold and distant with his players
Costa accuses Conte of lacking charisma, and of being cold and distant with his players
Chelsea, he alleges, have reduced him to the status of a ‘criminal’.

‘They want me to be there training with the reserves. I wouldn’t be allowed access to the first-team dressing room and I would have no contact at all with the guys.

‘I’m not a criminal! I don’t think it is fair after all I have done to be treated like that.’

Costa’s defiance has already cost him. ‘They gave me a week extra off but since then it’s fines all the way. They want me training with the reserves. I am not going to do that. I am not a criminal and I am not in the wrong here. So, if they need to fine me, let them fine me.

‘I take the hit every week but I’m not driven by money. The important thing is to be happy with how I live. I’m here with my parents and people who respect me.’

Would Costa ever return or would he consider a move to another English club? ‘If I have to I will stay in Brazil,’ he says.

‘I am open to being a year in Brazil without playing, even if Chelsea fine me for a year and don’t pay me. I’ll come back stronger. If I was in the wrong, I’d go back now and do as they say.

‘At the start of summer, they gave me an extra week of holiday. Then a week later they called to see where I was but by then the team was in Asia on tour, so I could go back and not have any contact with the boys.

‘That seems a very bad and ugly life. It doesn’t respect what I have done for the club. I am here with people who love me. I want the fans to know I still care deeply about them but I’m not going back to be separated like that.

‘I want the deal with Atletico resolved this month. My idea would be to go to Madrid, train there, get in the best physical shape and be ready to fire ahead of the World Cup.’

–Tony Elumelu Foundation commits to support NAPTIP

In recognition of the growing concerns around human trafficking in Africa, The Tony Elumelu Foundation (TEF), an African founded and funded 21st century philanthropic organization committed to youth empowerment and entrepreneurship development, hosted the Director General of Nigeria’s National Agency for the Prohibition of Trafficking in Persons (NAPTIP), Julie Okah-Donli.

According to Okah-Donli, UNESCO ranks human trafficking as the third most lucrative criminal enterprise in Nigeria. Thus, agencies like NAPTIP need good laws, sustained funding and equally important, critical support from local and global stakeholders to execute the urgent war against human trafficking. “We can no longer wait for government alone to fight this war. Many victims are on standby, anxious to be fully reintegrated into society. At the agency, we are desperate for assistance to empower and rehabilitate these millions of victims in need. Thus, we are identifying and approaching organizations like the Tony Elumelu Foundation (TEF) for support.”

She continued: “We need to refurbish and rehabilitate our existing shelters, facilitate periodic provision of food, clothing and medical consumables and shelter for victims. We also need assistance in the development of standard skills’ acquisition centres in strategic locations for the training of vulnerable persons, as well as rescued victims.”

In response, Mr. Tony Elumelu CON, Founder, Tony Elumelu Foundation, commended Okah-Donli for her accomplishments at the agency, including the conviction of over 325 persons, and successful rehabilitation of more than 12,000 victims. He also added that she was a former staff of leading pan-African bank, United Bank for Africa (UBA). “She is an alumna of the United Bank for America (UBA), Africa’s global bank, thus we are not surprised at what she has become. We predicted that she will attain such great heights because of the passion she has always had for human trafficking,” he said.

On behalf of the Foundation, he pledged commitment to the war against human trafficking. “We support what you are doing and we stand behind you. The Tony Elumelu Foundation believes in the empowerment of our youths and as we all know, they cannot be empowered if they are not free.” “We stand with you in eradicating human trafficking in Nigeria and will engage extensively with you as you work to restore dignity to mankind, protect the dignity of our youth and ensure no one can take undue advantage of them.”

He also made an appeal to the government to increase budgetary funding to the cash-strapped agency. “I call on the Federal Government to make more resources available to support you. As private companies, we pay taxes to the Federal Government and we want to see a more judicious use of the taxes paid.”

Elumelu also urged other private sector players to join the agency to fight human trafficking, assuring them of the credibility and competency of NAPTIP and its DG whom he could vouch for. “If she succeeds, we will all succeed. Let us come together to make sure our youth, our future leaders, are not trafficked.”

Last Sunday’s attack of the multimillion naira St. Philips Catholic Church, Ozubulu, in Anambra State, built and donated by Alloysius Ikegwuonu, (aka Bishop), who is fingered in an alleged drug war, has brought to the fore how several billionaires constructed and donated churches in the state.
Our findings revealed that the Chief Executive Officer of Ibeto Cement, Mr. Cletus Ibeto, built St. Cletus Catholic Church in Ndakwu village in Otolo, Nnewi North Local Government Area, while oil magnate and owner of Ifeanyi Uba FC. Dr. Ifeanyi Ubah, is presently building the Nnewi Catholic Dioceses Cathedral alone.

The imposing Anglican Church in Umuokpu, Awka South Local Government Area of the state, was built by an oil consultant based in Port Harcourt, while more recently, two governorship hopefuls in the state, Chief Godwin Ezeemo of the PPA and Obinna Uzo of the PDP, have single-handedly built churches in their country homes to the applause of the communities.

Also, a Texas, USA-based medical doctor, Dr. Godwin Maduka, has built an edifice for the people of Umuchukwu and donated it to the Catholic Church.

While it has been argued that church members can promote worship by such acts, some observers have said that the churches cannot absolve themselves of guilt of indirectly encouraging young people to pursue wealth by all means.

They said though this act and flamboyancy started with the Pentecostal missions which preach the gospel of building mansions for God on earth, the orthodox churches in the recent times have followed suit for fear of losing more faithful who are in a way being attracted to the grandeur of the Pentecostal churches.

It appears that the orthodox churches have suddenly realised the sense in what a certain Cardinal told a Roman Catholic faithful in Rome that they had to receive the gift of Tony Montana in Mario Puzo’s godfather 11 that “the Vatican is not run with only Rosary and chaplet, it is run with money.”

According to an indigene of Ozubulu who doesn’t want his name mentioned, though Alloysius Ikegwuonu, aka Bishop, has done well for the community, the time has come for churches to question the source of wealth donated for either construction of church or otherwise. “The Church is a place of worship; therefore, it must be sacred. If you invest bad money in church building, then you can be sure that one day, the devil will attend service”.

On his part, Octogenarian, Pa Abel Nsobundu, 82, said, “In those days, an individual does not build a church. Even when the church is completed, most of the people that started the church building may be dead by then. But this new craze of one person building a church sounds strange. Church building is a community project that takes so many years to complete. So, one wonders the source of money an individual would have that is decent enough to start building a church.”

There are, however, insinuations from different quarters that the attack may not have been truly drug related. Transition Chairman of Ekwusigo Local Government Area, Ikenna Ofodeme, said that the attack has the trappings not of a drug war but that of terrorism.
“It is a terrorist attack because the Bishop has no issues with anybody,” he said.

A governorship hopeful of Peoples’ Democratic Party, Dr. Alex Obiogbolu, in his reaction, said that whatever anybody is saying concerning the Ozubulu massacre is mere speculation.
He said “The act is an abominable, strange, malicious happening against the peace loving people of the state. This is an opportunity for us to rethink on our social apparatus and strategy for security in the state. We need a total review of our value system, increase in social awareness and intelligence gathering probability of the vigilante in the state.
“The Nigeria Police Force lacks the ability to gather the intelligence that will anticipate and prevent this sort of criminal activities.
“As long as our leaders do not focus on restructuring of our value system and moral compass by utterances and actions encourage the debasement of our cultural values and encourage criminality, that sort of dastardly activities shall continue.”
Governor Willie Obiano has, however, linked the current insecurity in Anambra State to the machinations of the APC, alleging that there is a plot to declare state of emergency in the state, contrary to his earlier claim that the massacre was as a result of a war between two people.

The unending brand war between Nigerian Bottling Company (NBC) and Seven Up Bottling Plc, Nigeria’s two rival makers of coke, over the control of the country’s soft drink market, yet again came to the fore with the duo reviewing the prices of their bottled drinks downward to regain their market share, which experts said shrink as ongoing economic recession erodes consumers’ purchasing power.

But experts express fear over the quality of the product, which according to them have health implications.

NBC had earlier raised its prices across the board as it continues to battle macroeconomic challenges such as continued naira devaluation, inflation and higher input cost of imported raw materials.

It increased its prices to wholesalers across the country for its various brands early in January with the exception of its Eva bottled water whose price had remained the same. Also, the company had quietly withdrawn the 60cl PET bottle it introduced in February 2016 for the standard 50cl PET.

The development was followed by massive decline in volume of sales; even Pepsi Cola was spared by the fall in demand as consumer struggle to survive the harsh economic situation.

So 7Up, maker of Pepsi Cola in a move to regain the lost volume took the battle for consumers to Coca-Cola’s doorstep with the offer of its 50cl bottled brands at the same price as its rival’s 35cl bottles.

The price of the 50cl Pepsi cola was N150.00 before it was reversed to N100.00.

However, as Nigerians were about to settle down to enjoy what seem to be affordable soft drink from 7Up company , Coca Cola reversed its price to 35cl to N100, even as another major competitor, AJE Group Big Coke swept into action with the introduction of their 50cl bottle for N100.

The development is leaving the consumers in the position of making decision as to whether to go for 35cl Coca Cola for N100 or 7Up products of 50cl bottle in the same price.

Speaking Marketing Expert, Mr. Olujide Fabanise, said Coca Cola’s reduction of its 35cl bottle Coke to N100 may have resulted in low sells of the PepsiCo’s 50cl that was selling at N150.

He said 7Up and Coca Cola have no option than to engage in the price reduction to regain their market share or lose out completely as there is now an alternative in the market–Big Coke which sells its 50cl bottle at N100.

He said that a producer who is not creative and innovative in terms of price and promotion of its products will loss the Nigerian consumer now whose disposable income has seriously been reduced by the economic recession ravaging the Nigerian economy.

According to him, hardly can you see people buying drinks for friends and relations again because they no longer have the money to play around with.

On the quality of the soft drinks, he said,” Yes, that’s the Nigerian factor. Any increase in price of goods, leads to reduction in the original quality of the product, much water and sugar. Such is our life. The more money you pay, the less the quality, content you get”.

Marketing and Media expert, Mr. Obiajulu Agu said Nigeria is a huge and, profitable market for numerous products because of the free spirited consumption and spending disposition of Nigeria’s huge and ever expanding population.

“These factors are what any serious-minded business enterprise must key into to grow and those were what Seven-Up Bottling Company must have considered in slashing the prices of the 50cl-sized plastic containers of its various soda brands from N150 to N100.

“This is a great marketing move, bearing in mind that the company’s great rival, Nigerian Bottling Company Plc (NBC), is retailing the 35cl-sized plastic containers of its various soda brands for N100. I bet you the NBC Management is having sleepless nights mulling over countering the rival’s killer marketing moves, including the decision to pay the toll fees for motorists plying the Lekki Toll Gate in Lagos between 5:00pm and 6:00pm as from Friday, August 11, 2017?

Meanwhile, feelers from Seven-Up indicate that free drinks might also be part of the package for the motorists, and some other lucky persons that are positioned for the company’s largesse for members of the public.

Managing Director/ Principal Consultant, PR plus Consulting, Mr. Kunle Ogedengbe said that the price angle is a critical conscience in marketing if you look at the four Ps in the marketing which means price, product, promotion and placement.

He added that pricing is the critical function and what I think is happening on the price issue between cocoa cola and seven up is the function of the market that is Nigeria market presently.

“There is recession, high level of unemployment and capacity of Nigerians has reduced. In order to meet up with their sells volume and have more revenue, that is why they are doing the pricing.

“People don’t have money as they used to have. For them to think of Cocoa Cola or Pepsi Cola instead of table water of N50, they need to be attracted, so for the companies to survive in the present circumstances of the Nigerian consumers, they need to adopt the option to satisfy the market,” he said.

Our effort to get the two soft drinks maker to respond to consumers fear that quality might be compromised in they reduce prices to retain their market shares, did not yield positive result before the paper went to bed. Media Consultant to NBC, Mr. Akomeh Omijeh, who replied to only email message after several calls, promised to get back to the newspaper but did not.

In his response to the email, he said, “Email has been received and sent accordingly to the office for response. I will get back to you soon as I get the same thanks. We waited for some hours and sent a reminder which read, “Sir, my Editor is on my neck and this is an opportunity for your office to say their side of the story. We may go to print with what we have at hand sir. He responded thus: “No sir. We are on it. Pressure is being placed on them to give us a response fast. Kindly wait for our official response. Thanks.

However, the Corporate Affairs Manager of 7Up Plc, Mr. Segun could not be reach as his phone number did not go through for two days.

Former governor of Delta State, Chief James Ibori has been nominated into the National Convention Planning Committee‎ for Friday’s Special Convention of the Peoples Democratic Party (PDP).
Ibori, who was recently released after‎ spending four years in a British prison, is No 41 in the main organising committee list. He was, however, absent at the inaugural meeting of the committee on Wednesday.
Delta State governor, Ifeanyi Okowa is the chairman of the committee.
Ibori’s media aide, Mr. Tony Eluemunor‎ said that there was not unusual for Ibori’s nomination to be in the committee.
“It is a privilege given to every former PDP governor.‎ Ibori is a former governor, and he has not left PDP. So there in nothing unusual in his name being included in the list.
“He was invited to the last NEC (National Executive Committee) meeting but he did not attend,” Eluemunor added.
He however, said he was not in position to say if the former governor will be at Eagle Square for Friday’s convention.
Ibori has not attended any public political meeting since he returned to the country last year after he was released from prison.

Sterling Bank Plc Managing Director/Chief Executive Officer, Mr. Yemi Adeola may have been enmeshed in fresh Economic and Financial Crimes Commission (EFCC) trouble as a Federal High Court Sitting in Lagos has ordered the interim forfeiture of a sum of N7,646,700,000 said to have been illegally kept in the bank.

The EFCC linked the offence to a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.

The Commission who wanted the money forfeited to the Federal government told Justice Chuka Obiozor via an ex parte application that the N7.6 billion was part of a sum of $153,310,000 which Diezani allegedly siphoned from the coffers of the Nigerian National Petroleum Corporation sometime in 2014.

The EFCC also alleged that Mrs. Alison-Madueke stashed the money in three banks, and the Federal Government had since February last year, through an order granted by another judge, Justice Muslim Hassan also of the Federal High Court, recovered part of the money from the other banks.

The anti-graft agency recalled that the Federal Government had recovered N23.4bn, $5m and another N9.08bn out of the $153.3m.

It urged the court to order Sterling Bank to deliver up to the Federal Government the N7.6bn still in its custody.

Justice Obiozor granted the order and directed the commission to cause it to be published.

He then adjourned till August 28, 2017, for the bank and any other interested party to appear before him to show to know why the funds should not be permanently forfeited to the Federal Government.

Nigeria are the 38th best team in the world and sixth in Africa, according to the latest FIFA ranking for the month of August released on Thursday.

The Super Eagles latest position is one up from last month’s 39th place in the world, while they maintained their position on the continent behind Egypt, Senegal, Congo DR, Tunisia, and Cameroon respectively.

Meanwhile, Brazil have knocked Germany off the top of the FIFA rankings.

World champions Germany dropped to second despite winning the Confed-erations Cup last month after some rolling historical results were devalued.

Lionel Messi’s Argentina are in third and modest Switzerland, with a 100 per cent record in World Cup qualifiers, are fourth, which is higher than they have been since 1994.

Poland, who boast Bayern Munich’s Robert Lewandowski amongst their ranks, are at a historic high of fifth having dropped just two points in their own qualifiers as European champions Portugal dropped two places to fifth.

FIFA standings as of August 10:

Brazil (+1)
Germany (-1)
Argentina
Switzerland (+1)
Poland (+1)
Portugal (-2)
Chile
Colombia
Belgium (+1)
France (-1)

Yeni, the first daughter of the late creator of Afrobeat music, Fela Anikulapo-Kuti, has come up with what she believes is a solution to the ever-increasing incidence of corruption in Nigeria.

Speaking during a radio talk-show titled, ‘The discourse with Jimi Disu’ and broadcast on the Classic FM 97.3 recently, the out-spoken lady urged the Federal Government to consider adopting traditional African medicine (also known as ‘juju’) as a tool for fighting corruption, especially in official circles.

Yeni, who shares her late dad’s belief in the potency of ‘juju’, noted that government should use it to administer oaths to elected officials and government appointees, instead of the Holy Bible and the Koran.

“Just as Sophie Oyewole has suggested, let them use it to swear in government officials and we shall see if anybody will continue to steal our money in this country or not. I am sure that if they are made to swear by Ogun or some other fearsome African deity, there will be no more corruption,” she said.

Saying that Fela had appeared to her in a dream on some occasions, she added, “It’s 20 years since my father died, but it doesn’t seem as if he has been gone for so long. I miss him and I still talk to him in my mind. He and other departed members of my family have also appeared to me in my dreams. I don’t know if it is right to say that they appear to me, but I see them in my dreams. I dream of them a lot.”

A self-confessed ‘free thinker’ with a bias for ATR, Yeni also disclosed that some people had come to her in the past and claimed they had messages from her father. But she never listened to them. “I believe in life after death. Also I believe that if my father has a message for me, he will come directly to me and not go through someone I don’t know or like. If anybody tells me that Fela has sent a message to me through him, I would tell him to ask my dad to appear to me directly himself,” she said.

Although it was no secret that Fela, despite coming from a deeply Christian background, never encouraged his children to attend church services, Yeni made another revelation when she said that she did attend church occasionally. “But that is when I am invited to weddings, burial ceremonies or other events,” she quickly added.

Also, going down memory lane, she recalled that when she was growing up Fela never went to church, although her mother remained a committed Christian. “But I was not brought up to form the habit of going to church, especially on Sundays,” the princess of Afrobeat said.

The celebrated dancer (now ‘retired’) went on to correct the impression that her choice of religion was largely influenced by Fela. Explaining that he did not compel her to believe in the ancestral mode of worship, she said, “It is not that my father made me to embrace it through indoctrination; I learnt and I actually believe in it. As a matter of fact, Fela’s arguments in defence of the traditional African religion were enough to convince me.”

Yeni also recalled one of her most memorable encounters with her dad. “When I was a young girl and I knew nothing about his dislike for what he often described as ‘foreign religions’ (Christianity and Islam), I used to visit the Braithwaites and accompany them to church on Sundays. When Fela heard of it, he warned me never to use the allowance he gave me for offering in the church. I can’t forget it,” she said.

Arguing that many Nigerians had always been hypocritical about religion, she noted that some people professed to be devout Christians or Muslims by day, yet sneaked out at night to consult local herbalists or diviners. “What they are doing is wrong. It is either you belong to this or you belong to the other,” she said.

Sterling Bank Plc Managing Director/Chief Executive Officer, Mr. Yemi Adeola may have been enmeshed in fresh Economic and Financial Crimes Commission (EFCC) trouble as a Federal High Court Sitting in Lagos has ordered the interim forfeiture of a sum of N7,646,700,000 said to have been illegally kept in the bank.
The EFCC linked the offence to a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.
The Commission who wanted the money forfeited to the Federal government told Justice Chuka Obiozor via an ex parte application that the N7.6 billion was part of a sum of $153,310,000 which Diezani allegedly siphoned from the coffers of the Nigerian National Petroleum Corporation sometime in 2014.
The EFCC also alleged that Mrs. Alison-Madueke stashed the money in three banks, and the Federal Government had since February last year, through an order granted by another judge, Justice Muslim Hassan also of the Federal High Court, recovered part of the money from the other banks.
The anti-graft agency recalled that the Federal Government had recovered N23.4bn, $5m and another N9.08bn out of the $153.3m.
It urged the court to order Sterling Bank to deliver up to the Federal Government the N7.6bn still in its custody.
Justice Obiozor granted the order and directed the commission to cause it to be published.
He then adjourned till August 28, 2017, for the bank and any other interested party to appear before him to show to know why the funds should not be permanently forfeited to the Federal Government.

The Nigeria Customs Service (NCS) FOU Zone A and C.G.C compliance teams lead by the Comptroller General Col. Hameed Ibrahim Ali (Rtd) has intercepted a total of 37 brand new vehicles worth N1.4billion smuggled into the country from Republic of Benin. This was even as the Service also intercepted 12,081 bags of smuggled rice valued at N149million.

The Comptroller General of Customs, Col. Hameed Ali (Rtd), disclose this while addressing newsmen in Lagos on Tuesday on the recent gains of the NCS anti-smuggling operations between Wednesday 2nd and Thursday 3rd of august 2017.

According to him, “This vehicle did not come from the port but the borders through unapproved routes. The smugglers in connivance with our officers know how to cut corners. We have over 4000km of border mass and we can’t line up officers to cover it.”

“They knew they are bringing in through unapproved routes and will go through dusty roads so they paint it with engine oil so that officers won’t know it’s brand new but when they were washed they will have a new look. That is why we need all the information.”

The Customs boss who reiterated Federal Government stance on ban of vehicles importation through the land borders said the vehicles are out rightly seized by the service.

“The owners said the vehicles were refurbished and I went there to see whether it was true, but they did not look to me as refurbished vehicles. We have asked him to bring his evidence and if there are proof that they are refurbished, he takes his vehicles because we want to be fair, but if he cannot prove it, it will be outright seizure and the importer will be prosecuted for involving in smuggling,” Alli stated.

Similarly, the Customs boss said a total of 12,081 bags of smuggled parboiled rice with DPV of N149million was also intercepted.

“Also, for the avoidance of doubt, the Federal government policies banning the importation of rice and vehicles through the land borders are still in force and the Nigeria Customs Service remains resolute including its determination to enforce these policies.”

“Apart from the seizures of vehicles and rice, the reinvigorated anti-smuggling operations yielded another 156 assorted seizures including bales of used clothing, Indian hemp and used tyres.

“Another face of insecurity and economic challenges, no responsible government will fold its hands while unpatriotic elements continue to engage in illegal activities that will further compound national economic and security wellbeing for their people,” the Customs boss explained.

Controversial Nollywood actress, Tonto Dikeh, was a guest at the unveiling ceremony of the 2017 African Children Talent Discovery Foundation, Unleash Your Talent. In a brief chat with the movie star at the ceremony, the mother-of-one spoke about her ‘Born Again Status’, and other issues

Why are you passionate about the African Children Talent Discovery Foundation’s quest to discover young talents in Nigeria?
My involvement in a talent show such as this is something I am very proud of. It’s more like evangelism to me. I am passionate about this cause because many talented Nigerian children will benefit a lot from it. As we all know, often times it’s very difficult to access the industry. I wish I had seasoned actors mentor me when I was starting out my career.

Why do you regret not having a mentor early on in your career?
Entertainment is not an easy path for anyone to tow because it can kill you, make you or destroy you. It has the power to do and undo, so as a mother I will tell everyone to be careful with the industry. But as an entertainer, I will say welcome to any fresh talent because there is no limit to what he or she can do with a talent. It’s even written in the bible that, ‘I will bless you through the works of your hands.’

You have made so much noise about your foundation in the recent. What have you been up to in this regard?
The Tonto Dikeh Foundation has been doing a lot recently. Every month, we try to do something different; and in August, we will tour the world speaking with female inmates. I am all for empowering women and the ‘One Girl, One Pen campaign.’ We all know that in our prisons, some people are on the death row but some others don’t seem to a have a means of survival for when they regain freedom. I have seen ex-convicts become great people in the society when they are released. So, I want to go into our prisons to empower the female inmates with skill acquisitions. We also plan to send some female inmates back to school when they regain their freedom.

What is the main focus of your foundation?
My foundation is very broad and when I was starting out, the focus was domestic violence, rape victims and physically abused women. But right now, being a mother and an advocate for God just broadens my purview. So my foundation is down for anything that will make the woman race better for it.

How is your foundation funded?
Like I said earlier, the Tonto Dikeh foundation is a big one. So, we have sponsors and people who key into our vision and run with us.

Does this mean that your acting career has taken the back seat?
I was off the scene for a long time but I retuned with a bang. I stared in a yet to be released film titled Celebrity Marriage and it will be out soon. I’m all fired up because I’m involved in the movie. I don’t want to be involved in the acting like I used to be in the past.

Can you please shed more light on this?
I have shot a film in a day, in the past but not any longer. I’m not looking for popularity so I am just trying to stay relevant by starring in very few quality movies. My family proposes that I shoot five quality movies in a year. I think three good movies in a year is fair enough. And that is what I have been looking for. That way, I can have time for my child and other people because I’m not just a mother of one but I am a mother of nations.

What is the secret behind your new glow?

Well, firstly I am born again and when you have God, you just radiate. So all the glow is from within; you don’t fake God’s glow. You also can’t fake God’s glory because it overwhelms you. I don’t know how to say what I want to say but when God steps into a situation or your life he elevates you and makes you see things in a different light. So, the glow you see is all God. I am a radical for Christ.

Do you plan to set up a church or become an evangelist?
Yes I will, before I became an entertainer I was close to becoming an evangelist but I backslid. But not to say anything, I am back with God. I don’t know where God is taking me to. But if it is the pulpit, I am ready.

You go the extra length when it comes to your son. Your Fathers Day outing readily comes to mind.
I heard motherhood is difficult but I think my son and I share a special kind of love that makes everything easy. Its not that I don’t get stressed out or mad at him sometimes. I do. But the love and the grace of God is sufficient for both of us.

You appear to have adjusted to life in Abuja
I thought I could never live outside Lagos because I thought everything outside Lagos was too slow. I need that slow life now because nobody is my face and neither am I in people’s faces. I’m changing my circle of friends and redecorating my life so I needed that space.

Do you think you can regain your privacy again?
I have always been a very private person and anything that people say about me is what they want to make up. No one truly knows me, no one knows what I eat or don’t eat. No one knows me and the only thing about me that is being made public is what I post on social media. So, if I don’t post it, disregard it.

So, are some of the backlashes you have received on social media lately a result of your being born again?
Well, even if I wasn’t born again, they will still come for me. You see, the devil cannot steal from an empty barrel; you have to be fully charged. I will go through a lot of things, whatever is happening now this is nothing compared to what is yet to come. What I have seen is not even half of what will come in the future. I am ready for more; there will be worse to come and I’m ready for it. When God prepares you in a different kind of way, I can fight my battles on my own strength.

Following your new status as a child of God, will you remarry or reconcile with your estranged husband?
Love is a beautiful thing and love is exquisite. So, of course, I will remarry once I find true love.

The federal government of Nigeria on Tuesday filed a notice of discontinuance of the suit it filed against seven commercial banks seeking the remittance of $793.2 million, which it claims is a breach of the treasury single account (TSA) policy.

The banks are Skye Bank Plc, First Bank Plc, Keystone Bank Plc, Diamond Bank Plc, Sterling Bank Plc and Fidelity Bank Plc.

According to Channels TV, the notice, which was dated August 7, was filed in accordance with order 50 rule 2 subsection 1, federal high court civil procedure rules of 2009.

Chuka Obiozor, a judge of the federal high court, Lagos, had earlier ordered the banks to remit the various amounts allegedly kept in their custody to the designated CBN asset recovery dollars account.

In the new application, Yemi Akinseye-George, counsel to the federal government, told the presiding judge that the government was making the move in public interest as it decided to explore an ‘out of court settlement’ with the banks.

Lawyers to the banks have no objections to the notice of discontinuance but they insisted that the proper application is for the court to dismiss the suit and award cost against the federal government.

The presiding judge has adjourned till Wednesday on whether to strike out the suit or to dismiss it.

All the banks, except Skye Bank, had denied possession of the money.

The Nigerian National Petroleum Corporation, to whom the money belongs, had said it informed the presidency and other authorities of the funds.

A Federal High Court in Lagos on Monday ordered permanent forfeiture of a $37.5 million sky-scrapper on the highbrow Banana Island, Lagos, belonging to former Minister of Petroleum Resources, Diezani Alison-Madueke, to the Federal Government.

Justice Chuka Obiozor, who gave the ruling, also ordered that the sums of $2.7 million and N84.5 million, realised as rents on the property, should equally be forfeited to the Federal Government.

Obiozor, a professor of law, gave the orders following a motion on notice argued by the Economic and Financial Crimes Commission’s counsel.

The anti-graft agency had on July 19 obtained a court order to temporarily seize the property located at Building 3, Block B, Bella Vista Plot 1, Zone N, Federal Government Layout, Banana Island Foreshore Estate which is said to have 24 apartments, 18 flats and six penthouses.

The court had directed that the temporary forfeiture order be published in a newspaper and fixed August 7 to enable anyone interested in the property and funds to appear to convince the court why they should not be permanently forfeited to the Federal Government.

At the hearing of the case on Monday, the EFCC lawyer, Anselem Ozioko, told the court that the publication order had been complied with and said no one had contested the forfeiture order.

Ozioko said: “In summary, it appears as if they are not willing to contest this application.”

He urged Justice Obiozor to go ahead and order the permanent forfeiture of the property and the funds.

Obiozor, in his ruling, granted the orders sought by the EFCC, saying: “In the face of the publication, which I find in Exhibit B of the affidavit of compliance before me and there being no responses from any interested party, I have no other option but to grant the orders as prayed.”

The EFCC had earlier told the judge that the Banana Island mansion was reasonably suspected to have been acquired with proceeds of unlawful activities by Diezani.

The anti-graft agency said its investigations revealed that Diezani purchased the property sometime in 2013 at a cost of $37.5 million, for which she paid in cash.

According to the EFCC, the $37.5 million was moved straight from Diezani’s house in Abuja and paid into the seller’s First Bank account in Abuja.

Ozioko said: “Nothing could be more suspicious than someone keeping such huge amounts in her apartment. Why was she doing that? To avoid attention.

“We are convinced beyond reasonable doubt because as of the time this happened, Diezani Alison-Madueke was still in public service as the Minister of Petroleum Resources.”

In a 41-paragraph affidavit attached to the application, an investigative officer with the EFCC, Abdulrasheed Bawa, explained that Diezani in connivance with one Nwokedi purposely incorporated a company, Rusimpex Limited, on September 11, 2013 to facilitate the alleged fraud scheme.

Bawa said Nwokedi later registered Rusimpex Limited at the Corporate Affairs Commission, wherein a lawyer in his law firm and a Russian, Vladmir Jourauleu, were listed as the directors of the company.

The investigator explained further that sometime in 2013, Alison-Madueke invited Nwokedi to her house in Abuja for a meeting, where she informed him to incorporate a company and use same as a front to manage landed properties on her behalf without using her name in any of the documents.

Diezani was also said to have further directed Nwokedi to meet with the Group Managing Director of First Bank of Nigeria Plc, for that purpose.

Bawa said: “Stephen was invited by the commission and he came and volunteered an extra-judicial statement wherein he stated that he marketed a property at Bella Vista, Banana Island, Ikoyi, Lagos, belonging to Youseff Fattau of Ibatex Nigeria Ltd to Diezani Alison-Madueke and she later bought the property from Youseff Fattau, through Nwokedi (who she introduced to him) and that the payment for the said property was made through the Abuja office of First Bank.

“First Bank of Nigeria Plc, through Barau Muazu, wrote to the commission and also volunteered an extrajudicial statement in writing that they made the payments totalling $37.5 million to Ibatex Nigeria Ltd and YF Construction Development and Real Estate Ltd on behalf of Diezani Alison-Madueke.

“They collected the entire cash from her at her residence located at No. 10, Fredrick Chiluba Close of Jose Marti Street, Asokoro, Abuja and paid into the First Bank of Nigeria Plc accounts of Ibatex and YF Construction Development and Real Estate Ltd on her instructions.”

Africa Cinematography Festival, the game changer in the filmmaking and entertainment industry has been unveiled to train young Nigerians and improve the skills of stakeholders in the film and entertainment sector.

The festival, the first of its kind in the industry is designed to bridge the knowledge gap which has negatively affected all aspects of the film making and entertainment industry through training, production enhancement workshop, networking, film market, film and technology expo in the last quarter of 2017 in Lagos.

Disclosing this in Lagos, the Founding Brand Ambassador and Director General, Event Coordination, Mrs. Judith Alakija identified inadequate knowledge as the major challenge hindering the competitiveness of the Nigerian film making and entertainment industry on the global stage, promising that the festival will change the trend.

“The gulf-like knowledge gap, leaves our youths at a disadvantaged position which could threaten their future as entrepreneurs in the industry,” she said.

“Africa Cinematography Festival provides our youths across Nigeria and Africa a great future and self-employment opportunity. It provides all industry players and stakeholders, including you and I the platform for optimization of the inherent potentials and prospects of technological advancement in audio-visual, sound, light and still photo productions.”

She expressed her commitment to the “Project Nigeria” with a great focus in promoting youth capacity building and developing the film making and entertainment industry because of its potential to enhance Nigeria’s GDP.

Mr. Henry Emenike, Chief Executive Officer, Legacy Empire Management and Co-Founder Africa Cinematography Festival described the festival as a child of necessity, “especially when one weights what is currently obtainable against what should have been the gain of the industry.”

He said Nigerian film industry had enjoyed massive followership but that getting foreign partners had been difficult due to lack of trust.

Emenike said the Africa Cinematography Festival will pave way for a new era and embody an industry buoyed by technological advancement.

“The ACF is not just about master classes, trainings and workshops, but also exhibitions in film technologies. As a platform, it will provide renowned and emerging cinematography equipment manufacturers and their local partners a huge window for expansion into the Nigerian market.

“We want to provide a platform for trust and partnership between the manufacturers of these equipment and film makers, we are hoping of bridging this gap by creating a meeting point for both cinematography equipment manufactures and film makers,” added Emenike.

Mrs. Folorunsho Alakija, the Founding Grand Matron, Africa Cinematography Festival said she was fascinated by the initiative, describing the festival as a project that “speaks to the spirit of young Nigerians.”

While expressing her full commitment to the festival, she called on the youths to explore the initiative to enhance their skills for the overall development of the industry.

“I feel convinced that the ACF speaks to the Nigerian spirit, but much more importantly the yearning of many of our talented men and women who presently appear to have hit the crossroads between their dreams and their realization.

“I share the view that the future of a country, nation or people is a direct function of what the younger generation makes of it. This fact, as common a cliché as it may have become in our national discourse, stresses the need to prioritize the empowerment of those within the bracket.

“I share the view that the future of a country, nation or people is a direct function of what the younger generation makes of it. This fact, as common a cliché as it may have become in our national discourse, stresses the need to prioritize the empowerment of those within the bracket,” Mrs. Alakija concluded.

Registration for the festival is expected to begin in the next two weeks while the festival will run for six days in November 2017.

The Lagos Waste Management Authority (LAWMA) says it has embarked on 24-hour waste evacuation to remove heaps of refuse on some major roads in the metropolis.

The News Agency of Nigeria (NAN) reports that refuse heaps had taken over many open spaces, road sides and medians in Eti-Osa, Lagos Island, Somolu, Mainland Apapa-Iganmu, Agege, Ajeromi – Ifelodun, Alimosho and Kosofe council areas of the state.

According to NAN check, areas worst affected by the refuse heaps, which was assuming epidemic dimension, are markets and commercial neighbourhoods.

LAWMA spokesman, Lanre Bajulaiye, told NAN that the authority had commenced 24-hour operation to ensure round-the-clock refuse evacuation across the metropolis.

The LAWMA spokesman said that refuse collectors stopped operations as many residents refused to pay their refuse bill because of the new Cleaner Lagos Initiative (CLI) which would take off next month.

“CLI is kicking off in September and residents are not paying. So, this is affecting the operations of most of the PSP operators

“However, Gov. Akinwunmi Ambode has read the riot act that everywhere must be clean and we are on top of the situation,’’ Bajulaiye said.

Some affected residents and traders told NAN that the heaps of refuse had not been removed by waste managers for several weeks.

Mr Philip Jacob, a trader at Idumota area, said that traders were complying with the government’s directives on environmental sanitation by keeping the markets clean but refuse collectors were not forthcoming.

“The heaps of refuse you see in-between the roads have been neatly kept there for the waste collectors to come and remove them with their trucks.

“But we hardly see them these days,’’ Jacob said.

Another trader, Mrs Iyabo Usman, a food vendor, said that the stench from the heap of refuse was affecting her business.

“You can see, the refuse is almost blocking half of the road and the odour is terrible.

“I am losing my customers every day.

“I thank God that l still have people who buy in takeaways to eat at their shops and offices,’’ she said.

Mr Felix Onyeador, a trader at the Tom Jones end of Adeniyi Adele Estate, wondered why the refuse was not removed.

“Allowing these heaps of refuse to remain here is an eyesore.

“We pay the refuse bill to government every month. What else should we do,’’ he said.

Traders at Mile 12 produce market wondered why officials would clear the drainage onto roadsides only for the refuse to be washed back into the drainage by the rains.

The LAWMA spokesman explained that the new CLI would enable residents to pay their refuse bill once a year instead of the current monthly payment.

Lagos State Commissioner for the Environment, Dr. Babatunde Adejare, had told journalists that the new initiative would bring waste management in the state at par with world’s best standards.

Adejare said that a consortium of seven companies would be executors of waste management under the state’s CLI starting next month.

The Senate has ordered the arrest of the chief executive officers of 30 companies for allegedly failing to appear before it, the News Agency of Nigeria reports.

The companies are alleged to have been involved in the N30 trillion-revenue believed to have been lost by the country in its maritime sector.

The companies include mobile giant Globacom, Crown Flour Mills, British American Tobacco, CCECC, Dana Group, Olam Int. Ltd., Hong Xing Steel Co. Ltd., Visafone, African Wire, Star Comments and Allied Ltd. and Aarti Steel Nig. Ltd.

Others are Abyem-Diva Int. Ltd., Gagasel Int., Friesland Campina, Etco Nig., Edic Chemicals and Allied Distributors, De United Foods makers of popular Indomie noodles, Don Climax Group, Skill G Nig. Ltd., Premium Seafood and La Rauf Nig. Ltd.

Also involved are Standard Metallurgical Co. Ltd., Kam Industries, IBG Investment Ltd., Orazulike Trading Co. Ltd., Popular Foods Ltd., A-Kelnal Integrated & Logistics Services, African Industries, African Tiles & Ceramics and ZTE Nigeria.

The Senate Joint Committee on Customs, Excise and Tariff and Marine Transport, handling the investigation had invited 63 firms accused of complicity in the scam; but only 33 honoured the invitation.

The order to arrest the companies’ officials was announced by the chairman of the committee, Hope Uzodinma, at the committee’s meeting on Friday in Abuja.

He said the refusal of the officials to honour the invitation in spite of several reminders was disrespect for the National Assembly.

Mr. Uzodinma warned that the 8th Senate would not tolerate such behaviour from anybody or institution, particularly in the present situation that involved Federal Government funds.

According to him, investigations carried out by the joint committee showed several forms of infractions that have cost the country huge amount of money in revenue loss.

He said such development in a country currently in recession was a disservice to it.

“It is no longer going to be business as usual.

“We have directed the Nigeria Police to arrest the heads of the firms and bring them before us.

“If we can suspend our recess as lawmakers to see to the end of this investigation, I see no reason why the firms that have been indicted will not come to defend themselves,” he said.

The chairman asked the firms that honoured the invitation to go through the documents given to them and return next week for defence.

The Senate had mandated the joint committee to carry out extensive investigation into alleged N30 trillion revenue leakages in the import and export value chain between 2006 and 2017.

The committee had already interfaced with commercial banks indicted in the matter as well as relevant government agencies.

The committee had on Wednesday threatened to issue the arrest warrants; but on Thursday, it said it was extending the appearance till next week.

The Lagos State Government on Friday arraigned the owner of Vintage Hotel in Owode Onirin area of Ikorodu, Chief Patrick Okeze before a Yaba Magistrate Court for allegedly aiding and promoting same sex sexual activities and gay club in his hotel.

Okeze was arraigned alongside two of his workers, Sunday Isang and Bright Oba for allegedly encouraging the illegal act to be perpetrated by young men and minors in the hotel contrary to the provisions of Same Sex Marriage (Prohibition) Act of 2014.

The state government had on Thursday arraigned 28 adults and 12 minors before Yaba and Ebute-Metta Magistrate Courts respectively for engaging in homosexuality using the said hotel.

Specifically, Okeze and his workers were said to have aided 40 people and others still at large, to engage in same sex activities as well as gay club/party in the said Vintage Hotel located at No 999, Ikorodu Road/Toyin Close, Weigh Bridge, Owode Onirin, Lagos contrary to and punishable under Section 5 (2) of the Same Sex Marriage (Prohibition) Act, 2014.

After the one-count criminal charge against Okeze (56), Isang (30) and Oba (28) was called and read before Chief Magistrate Adewale Ojo, the defendants were not allowed to take their plea on the account of the fact that the court lacked the jurisdiction to adjudicate on the subject matter of the case.

The prosecution team including Ms Adetutu Oshinusi, Bosun Aroyehun, Folabi Sholebo, Olaitan Shoetan and Nnena Okereka, all from the State’s Directorate of Public Prosecution (DPP), urged the court to remand the defendants in prison pending the outcome of the legal advice of the DPP.

But the defence team led by Mr. Alli Abba urged the court to discountenance the application of the prosecution, and admit the defendants to bail, as the offence under which they were charged, is bailable.

He referred to the arraignment of the principal suspects in the case who were granted bail by the same court on Thursday, assuring that his clients would not abscond if admitted to bail.

But in response, Police’s counsel, Mr. Effiong Asuquo said the application for the defendants to be remanded in prison pending legal advice was based on the need to prevent the defendants from going back to run the hotel if granted bail.

He said the subject matter of the case being about Same Sex Marriage Act could only be tried at the High Court, and that the application was needed to keep them in custody pending legal advice.

In his ruling, Magistrate Ojo held that in view of the provisions of Section 264 (1) of the Administration of Criminal Justice Law of Lagos State, he found merit in the application for the defendants to be remanded pending the DPP advice.

The court said having examined the affidavit in support of the application for remand, he found “sufficient merit” in it, and ruled that: “It is hereby ordered that the 1st, 2nd and 3rddefendants be remanded in prison custody pending their legal advice.”

The Magistrate also adjourned the matter to September 4, 2017.

Magistrate Ojo had, after the arraignment of the 28 adults on Thursday, ordered them to undergo health screening by the Lagos State Aids Control Agency (LSACA) and sexual rehabilitation by the Lagos State Domestic and Sexual Violence Response Team (DSVRT).

Responding to the arraignment, the State’s Attorney General and Commissioner for Justice, Mr Adeniji Kazeem said the development was an eloquent testimony to the commitment of the Governor Akinwunmi Ambode-led administration to fight all forms of crime and criminality.

“The arraignment is a confirmation of the commitment of the Lagos State Government to ensure that every resident abides by the law of the State and also to put a stop to the exploitation of under-aged children who are often lured by unscrupulous and criminally-minded adults to engage in acts or behaviours that are not in consonance with the laws of the State,” Kazeem said.

He also reiterated the commitment of the State Government to do everything humanly possible to uphold the Child Rights Protection Laws of the State.

To ensure proper rehabilitation of the suspects in line with their bail condition, DSVRT Alternate Chair, Mrs. Clara Ibirogba, who was at the arraignment, pledged to work with other relevant agencies of the State Government to ensure that the best care is provided for the suspects.

On his part, Dr. Michael Essien of LSACA also promised that the minors would be given proper counselling and necessary medical screening to determine the State of their well-being.

A middle-age man, Moses Udoh Abraham, has told the police in Calabar, Cross River State that he sold his two-year-old son, Elisha, for N150,000 to be able to feed himself, his wife and five other children. Abraham made the confession yesterday at the state Police Command Headquarters when he was paraded along with 26 other suspected criminals.

Abraham, who could barely speak English Language, said he was from Ikot Ekpene in Akwa Ibom State and had to sell his youngest child to meet his family needs.

The suspect explained that his two-year-old son was an added burden on him. He said: “Yes, I sold Elisha for N150,000 to somebody who wanted a child because I could not take care of others.

I have six children and a wife and the youngest, Elisha, was not needed so I had to sell him.”

The state Commissioner of Police, Mr. Hafiz Inuwa, said: “On July 24, 2017, a case of child trafficking was reported by Mrs. Esther Abraham against her husband – Moses Udoh Abraham – who stole her two-year-old boy, Elisha, without her consent.

“Upon investigation, Moses Udoh Abraham revealed that he sold his child, Elisha, to an unknown woman residing in Uyo in Akwa Ibom State at the sum of N150,000.

The sum of N103,000 was recovered from him and registered as exhibit. Investigation is in progress to arrest the alleged buyer and recover the child.” Inuwa said most of those paraded had confessed to their different crimes and would be charged to court as soon as the police completed investigation.

He said: “From February this year, when I took over as commissioner, we have arrested at least 500 suspects and more than 300 suspects have been charged to court.”

The commissioner also said that his command arrested 27 suspects and recovered from them five locally-made pistol, one Makarov pistol, one locally-made revolver pistol, three rounds of live cartridge, one Nokia 105 handset, one HTC handset, the sum of N268,000, one Infinite handset, one Samsung mobile phone, among others.

Inuwa appealed to members of the public to collaborate with the police by giving useful information.

According to him, the police cannot do much without collaborative efforts of members of the public.

Ponzi scheme, Mavrodi Mundial Moneybox (MMM), which collapsed months ago, has launched a weekly promotional stunt, aimed at wooing old and new members.

A letter displayed on the pages of participants of the scheme urges them to invite new members. Members must invite new participants and register them as referrals to qualify for the contest.

They have the opportunity to win cash prizes between N30,000 and N500,000, under an exercise the Ponzi scheme masterminds call, “Promo-Task Contest’

The letter reads in part: “MMM Nigeria launches Promo-Task Contest.

“MMM Nigeria launches the first Promo-Task Contest – which a relevant section has been created for the contest in the Personal Office.

“Winners are selected based on the number of points received for completing promo-tasks. Whoever receives the biggest number of points becomes the winner.

“The contest period is from Monday to Sunday while at the end of each week; winners are announced and awarded Mavros (cash prizes) available for output.

“In the first contest, there are 50 prizes. First place will win N500,000; second place N300,000 and third place winner will take home N200,000.

“Fourth place to 10th place winner get N100,000 each; 11th to 30th place wins N50,000 each while participants who placed 31th to 50th wins N30,000 each.

“Members can complete both online and offline tasks with focus to promoting the community and contribute to growth of the scheme.

“The promo-task contest is a serious tool aimed at community growth, and as such, would be continuously adjusted and refined to enable MMM Nigeria to overcome.”

The Securities and Exchange Commission (SEC) and the Central bank of Nigeria (CBN) have warned Nigerians against participating in the scheme which they described as a “Ponzi” scheme.

The scheme has been mired in controversies after it placed a one-month freeze on all withdrawals from the scheme on December 13, 2016.

The scheme, however, made a comeback on January 13 and quickly placed a limit to the number of withdrawals from old-confirmed mavros (money), drawing wild condemnation from members and making many of them walk away.

“If Governor Ambode were to be a student in your class, what grade will you give him? Distinction, I believe. He has performed wonderfully well and all that he requires is the support of everybody to continue this magical feat.”
The above extract, which succinctly portray the giant strides of Mr. Akinwunmi Ambode as Lagos State governor, is taken from a published interview with the Balogun of Epe, Chief Lanre Razak, who also a chieftain of All Progressives Congress (APC).
Going by the intimidating template set for Lagos development by Senator Bola Ahmed Tinubu while he was governor of the state between 1999 to 2007, not again will a governor occupy the Round House, Alausa, without having it thrust upon his shoulders the decree to continue raising the bar of making Lagos an Eldorado.
Ambode has not only shocked the doubting Thomases, he has also left those who backed him for the coveted office with no reason to regret the choice made two years after.
It still beats the imagination of many residents of Lagos, the commercial nerve of Nigeria, the amount of bridges, roads, laybys built by Ambode within two years to eliminate traffic bottlenecks. In a way and speed never seen before, Ambode is busy opening up inner city roads in various parts of the Lagos metropolis.
Ambode hit the ground running on May 29, 2015, when he was sworn in as the number one citizen of the state. So, he left no keen watchers of the development radar of Lagos disappointed 365 days after, when he commissioned 114 roads in all the 57 local councils and Local Council Development Areas in the state simultaneously. A feat seen by many as unprecedented in the history of the country.
From Surulere to FESTAC Town, Agege, Alimosho, Ikeja, Kosofe, Epe among others, Ambode’s footprints in visible projects is boldly written everywhere. To him, it appears it does not matter who voted for him or not, all that matters is the development of Lagos.
LAKE Rice project, a brainchild of comprehensive rice cultivation joint-ventured by Lagos and Kebbi states to ensure food security, remains a flagship agricultural feat in a sector not many thought Lagos could ever veered into let alone exceling in such a short time.
Asiwaju Bola Ahmed Tinubu, described by many as the architect of the 21st century Lagos, said that “Akinwunmi Ambode has reflected that he is clearly a thinker and doer. I want to say thank you because experience is a great teacher and I am experienced. I am on the spot and I have watched things in Lagos since my tenure ended.
“I was worried hell when you (Ambode) took over, not about your credibility, character or capacity, but because however wise or smart a man is if there are no resources to back the ideas, production would be zero, progress would be zero.
“When you (Ambode) took over, I know you inherited a burden of debt. The debt profile of Lagos was high, I was wondering how you will re-engineer and face the challenges to make progress. Today, I can see your report card, you have scored well, and you have shown prudency especially in the judicious use of resources of the state. You didn’t disappoint us.”
According to Time Magazine, in a lengthy article featuring the extraordinary project and team which, in less than ten years, have transformed Lagos, once a dusty and crime-ridden state, into one of the top 100 best places in the world to live and do business in, noted that “Quality of air is better than in Paris or London. Unemployment is lower than in Germany. The state’s GDP is now the first in Africa above Johannesburg, Cairo, and Pretoria. In less than ten years the city became the financial and entertainment center of Africa, with Nollywood becoming bigger than Hollywood in terms of number of movies and revenue.
“Crime has almost disappeared, and a decade of a responsive and accountable government has raised the revenue per inhabitant to the same level as in China, Brazil or Poland. In term of people’s happiness, the international happiness index now places Lagos at the same level as Finland.”
The report added that “Lagos is already a megacity of 21 million people with a strong internal brand. If Lagos was a state in the United States, its GDP would be higher than the one of 14 other states, including New Mexico, Delaware, North Dakota.
“The GDP of Lagos state alone is already bigger than the GDP of Kenya, and bigger than the combined GDPs of 25 other African countries. Inside the federated states of Nigeria, Lagos contributes 25% to the national GDP (or 32% to non-oil national GDP) while being the smallest of the 36 states.”
Lagos is 65% of Nigerian tourism, 50% of national port revenue, over 70% of international air traffic, and 50% of national energy consumption. The state economy growth has been estimated to be 7% during the last three years. Lagos adds 600,000 new inhabitants every year, growing at a rate of 6 to 8% a year, ten times faster than New York or Los Angeles, which makes it one of the fastest-growing cities in the world.”
Ambode said his administration would rehabilitate all the Federal roads in the state even without necessarily asking for reimbursement from the Federal Government, as is the tradition, in line with the dream of making Lagos one of the sanest cities in the world.
“Some of these roads pose problems to the people of Lagos and they do not make us to be globally competitive. So, it is in our interest that the roads are upgraded,” Ambode said.
Therefore, at a period that other governors would have been settling down for real governance, Ambode commissioned two eye-popping flyovers in Ajah and Abule-Egba to mark his second anniversary in office, Lagosians were full of praises to the governor for walking his talking.
Ambode has been working round the clock to make Lagos a globally competitive city-state, by improving connectivity and providing permanent to perennial gridlock in the city.
The governor is also planning drastic facelift to the ever-busy road linking Murtala Mohammed International Airport to Oshodi to a globally befitting class, which despite the initial hitch has got the blessing of the Presidency. The project, when completed poised to be yet another milestone that Ambode has become synonymous with.
The governor also disclosed that a new road was being built to link the Meiran/AIT Road to the Lagos State University (LASU) and the Lagos-Badagry Expressway.
Ambode said the road was also being extended to enable motorists to link Sango-Ota without necessarily going on the Lagos-Abeokuta Expressway.