₦airaland Forum

The Financial Reporting Council of Nigeria (FRCN) has commenced investigation into an alleged illegal transactions undertaken by the Stanbic IBTC Bank Plc with its foreign technical partners in the last four years, even as the National Office for Technology Acquisition and Promotion (NOTAP), the approving agency, denied knowledge of the transactions.

The Executive Secretary and Chief Executive Officer of FRCN, Jim Obazee disclosed this during a meeting with Director General of NOTAP, Dan-Azumi Ibrahim, in Abuja on Wednesday.

According to Obazee, the investigation was as a result of various petitions by shareholders of the bank.


READ MORE: http://www.theiconng.com/stanbic-ibtc-in-trouble-over-questionable-transactions/

Fidelity Bank Plc on Thursday unveiled its new identity. The bank explained that the move was aimed at strengthening its operations in order to deliver superior customer satisfaction. It also explained that the rebranding exercise was to bring about convergence in its services, to suit both the old and new generation customers.

Speaking at the unveiling of the new identity, the Group Managing Director/Chief Executive Officer, Fidelity Bank, Mr. Nnamdi Okonkwo, reiterated the financial institution’s commitment towards customer service, saying that the bank is also targeting the youth population.


READ MORE: http://www.theiconng.com/fidelity-bank-rebrands-to-strengthen-focus-on-youth-segment/

Afriland Properties clarifies Falomo Shopping Centre Concession …says N50M was for expression of interest
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Afriland Properties Plc, the concessionaire of the Falomo Shopping Mall has stated that the shopping mall was not leased to it for 50 years for N50 million as widely reported in the media.

In a statement released yesterday and signed by Uzo Oshogwe, MD/CEO Afriland Properties Plc, the company stated it rather signed a deal with the Lagos State Development and Property Corporation (LSDPC) to redesign and redevelop the iconic Falomo Shopping Centre in Lagos on a “Build, Operate and Transfer (BOT)” basis.

Giving the details of the transaction the company stated that “Afriland Properties Plc and the LSDPC, acting on behalf of the Lagos State government, established a Special Purpose Vehicle (SPV), which is jointly owned by the Afriland and LSDPC for the specific purpose of developing the Falomo Mall. Under the terms of the agreement, the SPV- Falomo Shopping Centre Development Company Ltd – was granted a concession to, amongst other things, develop, build, operate and maintain the Mall on a Build, Operate and Transfer (BOT) basis. Afriland paid N50m (fifty million naira) to LSDPC as an expression of interest in the redevelopment project.”

READ MORE: http://www.theiconng.com/afriland-properties-clarifies-falomo-shopping-centre-concession-says-n50m-was-for-expression-of-interest/

There are indications that Dr. Mohammed Sani Haruna, the Director-General of the National Agency for Science and Engineering Infrastructure, (NASENI), may soon get into hot water with the Economic and Financial Crime Commission (EFCC).

Why? Very high ranking officials of the agency are hurling bricks at him, accusing him of pilfering of NASENI funds, over invoicing, violation of civil service rules and regulations, maltreatment of staff who are reluctant to get on his gravy train, and are therefore insisting the EFCC takes a look at the books.

NASENI with headquarters in Abuja, has nine financially autonomous outstations, they are Scientific Equipment Development Institute, Enugu (SEDI-E), Enugu State; Scientific Equipment Development Institute, Minna (SEDI-M), Niger State; Hydraulic Equipment Development Institute (HEDI), Kano, Kano State; Electronics Development Institute (ELDI), Awka, Anambra State; Engineering Materials Development Institute (EMDI), Akure, Ondo State; National Engineering Design Development Institute (NEDDI), Nnewi, Anambra State; Power Equipment and Electrical Machines Development Institute (PEEMADI), Okene, Kogi State; Prototype Engineering Development Institute (PEDI), Ilesa, Osun State; and the Advanced Manufacturing Technology Programme (AMT-P), in Jalingo, Taraba State....

MORE: http://www.theiconng.com/investigation-multi-million-naira-fraud-rocks-naseni-d-g-fingered/

Ecobank Plc is in the news again. Just like always, the bank is allegedly entangled in a fraud case with a limited liability company known as N. C. Gibson International Limited that claims to have lost a whopping sum of N6, 572,541.12 million as a result of spurious and illegal charges on an account domiciled with the Bank.

Ecobank is known to be one of the leading banks in the country but what is coming out of the bank in recent times is not encouraging.

In an affidavit sworn to by N. C. Gibson International Limited in the Federal High Court, Lagos in the suit number Fitch/L/CS/1303/2012, the Lagos based company....


MORE: http://www.theiconng.com/customer-battles-ecobank-over-n7-million-fraud/

The Ooni of Ife, Oba Okunade Sijuade is dead at age 85.

Alayeluwa Oba Okunade Sijuwade, or Sijuade, was born on 1 January 1930.

He became the fiftieth traditional ruler or Ooni of Ife in 1980, taking the regnal name Olubuse II.

Ife is a traditional Yoruba state based in the town of Ife in Osun State, Nigeria.

He was crowned on 6 December 1980 in a ceremony attended by the Emir of Kano, Oba of Benin, Amayanabo of Opobo and Olu of Warri, as well as by representatives of the Queen of England.

Sijuwade was born on 1 January 1930 in Ile-Ife to the Ogboru ruling house, grandson of the Ooni Sijuwade Adelekan Olubuse I.

He studied at Abeokuta Grammar School and Oduduwa College in Ile-Ife. He worked for three years in his father’s business, then for two years with the Nigerian Tribune, before attending Northampton College in the United Kingdom to study business management.


MORE: http://www.theiconng.com/breaking-news-ooni-of-ife-dies-at-85/

Contrary to reports making the rounds especially on the new media for weeks that the Managing Director/CEO of Unity Bank Plc, Henry James Semenitari was forced to proceed on compulsory leave or sacked owing to boardroom squabbles and fraud among others, investigation has revealed that Semenitari was never fired nor suspended.

Investigations revealed that the former Unity Bank GMD resigned his appointment after 18 months at the helms of affair of bank to pursue other endeavours.

Semenitari would be remembered for his giant strides in repositioning Unity Bank in the short period, which has put the Bank on the track of steady growth and operational efficiency.

He successfully pulled Unity Bank from a financial loss position of N33 billion as at December 2013, which the bank inherited, to a profit before tax of N13.6 billion as at December 2014 financial year, being his first year of management.

During his tenure, the bank’s active customer base increased from less than 100,000 to over 800,000 accounts.

MORE: http://www.theiconng.com/why-semenitari-resigned-as-gmd-of-unity-bank/

Financial Highlights

* Gross Earnings increased by 13.6% to N71.9bn from N63.3bn in H1 2014
* Net Fee Income increased by 25.9% to N15.2bn from N12.1bn in H1 2014
* Operating Income increased by 14.1% to N42.0bn from N36.8bn in H1 2014
* Total Expenses increased by 13.8% to N28.8bn from N25.3bn in H1 2014
* Profit before Tax increased by 2.5% to N9.7bn from N9.4bn in H1 2014
* Profit after Tax increased by 2.5% to N8.2bn from N8.0bn in H1 2014
* Net Loans increased by 5.8% to N572.8bn from N541.7bn in Dec 2014
* Deposits declined by 2.9% to N796.6bn from N820.0bn in Dec 2014
* Total Equity increased by 3.1% to N178.6bn from N173.1bn in Dec 2014
* Total Assets increased by 0.5% to N1,192.7bn from N1,187.0bn in Dec 2014

Nnamdi Okonkwo, Managing Director and CEO of Fidelity Bank plc commenting on the results, stated that:
“Business operations in H1 2015 were challenged by a difficult operating environment due to heightened political risks in Q1, weaker government revenues arising from lower crude oil prices, a tighter monetary policy environment and currency devaluation concerns which all translated to a significantly lower GDP growth rate.

READ MORE: http://www.theiconng.com/fidelity-bank-plc-announces-a-13-6-growth-in-gross-earnings/

- Millions Gather to Celebrate With Him

- Launches 33 books

- His 25 Years Behind The Pulpit

- Benue Gov Samuel Ortom Confesses: ‘Iginla Was A Backbone Behind My Emergence’





Brother Joshua Iginla has done it again. At a special birthday thanksgiving service held on Sunday June 28, 2015 which also commemorates the launching of 33 books and his 25 year anniversary behind the pulpit, the amiable clergy gave out 22 new cars to Fathia Balogun, Funsho Adeolu, Zack Orji, Tope Alabi, Larry Koldsweat, Ireti oshayemi and 16 others.

Funsho Adeolu and Fathia Balogun were given a Toyota Camry each, a jeep to Zack orji, Mazda to Larry Koldsweat and an exotic car to Tope Alabi.

READ MORE: http://www.theiconng.com/abuja-prophet-joshua-iginla-birthday-special/

Information reaching The ICON revealed that the executive governor of Kogi State, Captain Idris Wada penultimate week Thursday ordered the State Commissioner of Police to deal with primary school teachers in the state during a protest over non payment of 2014 November and December salaries as well as other entitlement and allowances. This paper further learnt that the police in obedience to the inhumane instruction of Governor Wada fired tear gas and beat the protesters.

The teachers under the Basic Education Staff Association of Nigeria, (BASAN) who converged at Nataco junction in Lokoja were on a peaceful protest to the office of the State Universal Basic Education Board, when the police engaged them.

We learnt that some of the protesters sustained injuries.

Addressing Journalists before the police attack,the BESAN chairman, Comrade Adomu Sule, said the protest was in reaction to the statement credited to the Chairman of SUBEB that the state government was not owing basic education teachers.


MORE: http://www.theiconng.com/unpaid-salary-kogi-gov-orders-police-to-fire-tear-gas-and-beat-protesting-teachers/

” We are out today to let the world know that the Kogi state government is owing basic education teachers in the state. We also want the federal government and the public to know how government is killing public school.

They have all removed their children from public schools to private schools and as such whether public school is dead or not they are not bothered about it,” he said.

THE American government announced in 2013 that the yearly American Visa Lottery would no longer be receiving applications from Nigeria as the country had used up its allotted number of emigrants through the annual lottery. This invariably meant that the lottery was closed to Nigerians. The reaction among Nigerians on the contrary was that, the decision arose due to the disagreement between American and the Nigerian governments on the issue of Nigeria’s refusal to allow same gender marriage.

Though it later proved that the matter might not be the reason for the decision as its decision did not single Nigeria out, it was in the course of this that another visa policy was introduced which was meant to encourage Nigerians to apply more for the American visa. It was announced earlier in 2014 that the duration of visas issued to Nigerians would be increased.

This, coupled with the introduction of the online submission of non-immigrant visa application increased the number of applicants for the American visa in the country.

Then came the era of indiscriminate refusal; unlike other embassies like the German embassy and others there is need to pay the visa application fees of $190 or its equivalent in naira (N37, 810.00), to the purse of the embassy and this made the denial tricks very interesting as Nigerians are denied visa on all sorts of flimsy excuses.


READ MORE: http://www.theiconng.com/exclusive-the-big-fraud-in-american-embassy-how-they-rip-off-nigerians/

The ICON


Pan-African financial services group, United Bank for Africa (UBA) Plc has won the African Investor (Ai) Social Infrastructure Deal of the Year award.

The award was announced at the Ai CEO Infrastructure and Sovereign Investment Summit in Cape Town, South Africa last week.

Now in their 8th year, the highly sought-after Ai Infrastructure Investment Awards formally recognises achievements across the main infrastructure sectors in Africa, and reward the institutions and personalities driving transactions and improving the continent’s infrastructure investment climate.

MORE: http://www.theiconng.com/uba-wins-social-infrastructure-deal-of-the-year-award/

On the eve of the handover of government from Gov. Gabriel Suswam to Dr. Samuel Ortom, the outgoing governor had revealed that his administration was leaving behind a debt of Nine billion Naira. However what the governor failed to add was the monumental rot in the state owned establishments .

Per Second News investigation here unearths one of such companies used as a cash cow by the Suswam administration where rackets costing over a billion Naira have been exposed.

The Benue Investment and Property Company ( BIPC ) is the state investment management company vested with three obligations, Management of State government owned shares; promotion of industrial and commercial activities and management of some of the state government owned houses and lands.

BIPC as it is called came into limelight recently when the Company sold close to 10billion Naira worth of Dangote Cement shares, which had been managed by the company for decades.

Investigations by Per Second News revealed that until very recently the former governor of Benue State has denied knowledge of the sale and has repeatedly feign ignorance of the corrupt and illegal transaction.

At the BIPC Commissioning, the former governor Suswam said he was being criticized for authorizing the sale, however it was from the proceeds of the sale that BIPC was undertaking its projects. Per Second News investigations have revealed that:

1) The company is run under a water tight arrangement for fear that the activities of the former governor, Board of directors, and management staff will be exposed.

2) Sensitive areas of the Company are being manned by the governor’s cronies to ensure information is not leaked as a former acting managing Director is said to have sued the Company and government using certain leaked documents against the administration in court.

3) After the sale, the Company was denied any part of the proceeds as funds to reinvest. The funds were given straight to the State government and shared amongst the board of Directors and certain management staff. All projects embarked upon are funded by internally generated funds.

4) BIPC has started certain projects most of which are merely conduit pipes for siphoning the Company’s funds by two members of the Management staff and the Board of directors. The phony projects include the development of the BIPC/Allview estate at Mabushi Abuja, the construction and development of the Karu estate, the building of a fence at Filandabo, a fence at the BIPC High Level Guest House etc. All these projects have been instituted to benefit largely, the individuals and not the Company.

READ MORE: http://www.theiconng.com/benue-investment-and-property-company-how-former-gov-suswam-wife-looted-state-treasury/

Contrary to reports making the rounds especially on the blogosphere, that one of Nigeria’s leading property management, investment and development company, AFRILAND PROPERTIES PLC is owned by the Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA) Plc, Mr. Phillips Oduoza, The ICON investigation revealed that the story is not true.

The report had alleged that Erelu Angela Adebayo, the Chairman of AFRILAND PROPERTY PLC who is also the wife of the former Governor of Ekiti State, Otunba Niyi Adebayor has been fronting for Oduoza.

Further digs by our reporters revealed that Afriland Property, which was the former UBA PROPERTIES is also owned by the shareholders of UBA Plc. UBA shareholders at a Court-Ordered-Meeting held on December 13, 2013, approved a new structure for the Group including the spin-off of the Group’s non-commercial banking businesses to existing shareholders in line with the then newly introducedCentral Bank of Nigeria’s (CBN)regulations banning banks from owning and operating non-banking subsidiaries

Speaking with our correspondent, Divisional Head, Marketing and Corporate Relations, UBA Plc, Mr. Charles Aigbe disclosed that AFRILAND PROPERTY PLC was spun off with two other companies, Africa Prudential Registrars Plc and United Capital Plc from UBA following directives from the CBN to divest from all non-core banking businesses.

‘ Following regulatory approvals, every shareholder whose name appeared on the register of shareholders of UBA as at December 31, 2013, received four shares in United Capital Plc, one share in Africa Prudential Registrars Plc and one share in Afriland Properties Plc for every 33 shares held in United Bank for Africa Plc’.

READ MORE: http://www.theiconng.com/who-owns-afriland-properties-plc/

The crisis rocking the PDP took a turn for the worst as the national chairman of the party, Adamu Mu’azu has resigned as the national chairman. His resignation took effect immediately.

Also , it was reliably gathered that President Goodluck Jonathan has asked the chairman of PDP Board of Trustees (BoT), Chief Anthony Anenih to resign his office as the BOT chairman. But it is not known whether Anenih has accepted to resign or not

MORE: http://www.theiconng.com/pdp-crisis-worsens-as-muazu-resigns-as-chairman/

The crisis rocking the PDP took a turn for the worst as the national chairman of the party, Adamu Mu’azu has resigned as the national chairman. His resignation took effect immediately.

Also , it was reliably gathered that President Goodluck Jonathan has asked the chairman of PDP Board of Trustees (BoT), Chief Anthony Anenih to resign his office as the BOT chairman. But it is not known whether Anenih has accepted to resign or not

MORE: http://www.theiconng.com/pdp-crisis-worsens-as-muazu-resigns-as-chairman/

See More pictures at: http://www.theiconng.com/gov-adams-oshiomhole-weds-beauty-goddess-iara-pictures/

This week on our spotlight page, The ICON Tabloid takes a look at the Phillips Odouza and Tony Elumelu led United Bank for Africa (UBA).

The bank has about 67 years of providing uninterrupted banking operations dating back to 1948 when the British and French Bank Limited (“BFB”) commenced business in Nigeria. BFB was a subsidiary of Banque Nationale de Crédit (BNCI), Paris, which transformed its London branch into a separate subsidiary called the British and French Bank, with shares held by Banque Nationale de Crédit and two British investment firms, S.G. Warburg and Company and Robert Benson and Company. A year later, BFB opened its offices in Nigeria to break the monopoly of the two existing British owned banks in Nigeria then.

Following Nigeria’s independence from Britain, UBA was incorporated on 23, February 1961 to take over the business of BFB. UBA eventually listed its shares on the Nigerian Stock Exchange (NSE), in 1970 and became the first Nigerian bank to subsequently undertake an Initial Public Offering (IPO). UBA became the first sub-Saharan bank to take its banking business to North America when it opened its New York Office (USA) in 1984 to offer banking services to Africans in Diaspora.

Today’s UBA emerged from the merger of then dynamic and fast growing Standard Trust Bank, incorporated in 1990 and UBA, one of the biggest and oldest banks in Nigeria. The merger was consummated on August 1, 2005, one of the biggest mergers done on the Nigerian Stock Exchange (NSE). Following the merger, UBA subsequently went ahead to acquire Continental Trust Bank in the same year, further expanding the UBA brand. UBA subsequently acquired Trade Bank in 2006 which was under liquidation by the Central Bank of Nigeria (CBN).

UBA had another successful combined public offering and rights issue in 2007 and made further banking acquisitions of three liquidated banks namely: City Express Bank, Metropolitan bank, and African Express Bank. The bank also acquired Afrinvest UK, rebranding it UBA Capital, UK.

The quest to build a strong domestic and African brand intensified in 2008 when UBA made further acquisitions of two liquidated banks, Gulf Bank and Liberty Bank while at the same time intensifying its African footprint with the establishment of UBA Cameroon, UBA Cote d Ivoire, UBA Uganda, UBA Sierra Leone, and UBA Liberia as well as the acquisition of a 51% interest in BanqueI Internationale du Burkina Faso, which was the largest bank in the country with 40% market share. Currently, UBA has 18 African subsidiaries contributing about 20% of the Group’s balance sheet with a target of contributing 50%.


MORE: http://www.theiconng.com/united-bank-for-africa-sixty-seven-years-of-providing-uninterrupted-banking-operations/

The fire at the federal secretariat in Abuja has been extinguished.

But the vicinity of the complex remains in pandemonium, our correspondents say.

A spokesperson for the Federal Fire Service said his agency received alert on the incident 30 minutes after the fire started.

He said there was no casualty in the incident but that his agency was yet to establish the cause of the fire.

The fire incident we gathered started from the section of the complex occupied by the Federal Ministry of Education.

The Ministry of Police Affairs is also affected by the inferno.


READ MORE: http://www.theiconng.com/update-fire-at-federal-secretariat-abuja-extinguished/

President-Elect, General Mohammadu Buhari was reportedly shocked when he visited Imo State Governor, Owelle Rochas Okorcha at his Spibath N1 Billion Presidential Mansion in Umuodu Mbieri in Mbaitoli Local Government of Imo State recently, Pointblanknews.com gathered.

General Buhari had shortly after the Presidential elections on March 28, paid a visit to Gov. Okorocha in Imo State as part of his “Thank You” tour.


READ MORE: http://www.theiconng.com/gov-okorocha-builds-n1billion-spibath-mansion-in-imo/

Information reaching The ICON after much private investigation by the news medium revealed that the media propaganda against the Director General of the Debt Management Office, Dr. Abraham Nwankwo in an issue involving First Deep Water Discovery Limited and its debtors are actually campaigns sponsored by one of the creditors, Ecobank Nigeria Limited led by the Managing Director, Mr. Jubril Aku to intimidate and blackmail the DG for refusing to play side to any of the parties, no matter how powerful they may be.

Further digs revealed that the case is actually a contest involving six parties, including Ecobank against First Deep Water Discovery Limited. Our findings shows that the DG might actually be a victim caught in a cross fire of a fight among some powerful parties in the course of his duties.

We gathered that there are several suits presently at the Federal High Court involving First Deep Water Discovery and other creditors, including Ecobank Nigeria Limited, who have approached the Court to recover their monies from the First Deep Water Discovery.


READ MORE: http://www.theiconng.com/ecobanks-snare-campaign-to-blackmail-debt-management-office-dg/

One of Nigeria’s best Image makers, Mr. Victor Adoji is currently bereaved.

Adoji who is the Head of Corporate Communications of the Peter Amangbo’s led Zenith Bank lost his father, Pa Adoji on the early hours of Thursday.

Breaking the news, one of the daughters of the deceased, Grace posted on her facebook page ‘Exit of the best father. My hero. Baba passed on early hours of today’.

READ MORE: http://www.theiconng.com/zenith-bank-image-maker-victor-adoji-loses-dad/

One of Nigeria’s best Image makers, Mr. Victor Adoji is currently bereaved.

Adoji who is the Head of Corporate Communications of the Peter Amangbo’s led Zenith Bank lost his father, Pa Adoji on the early hours of Thursday.

Breaking the news, one of the daughters of the deceased, Grace posted on her facebook page ‘Exit of the best father. My hero. Baba passed on early hours of today’.

Read More: http://www.theiconng.com/zenith-bank-image-maker-victor-adoji-loses-dad/

The 2015 general election has come and gone but its rubbles is yet to be cleared off.
While many have taken their grievances to the election tribunal, some were admitted in various hospitals nursing their wounds or probably taking care of their ‘dilapidated’ health after losing to their political opponent.

For Olawale Okunniyi, the spokesman of Pro-National Conference Organization (PRONACO) as well as the National Secretary of PROJECT NIGERIA (Nigeria Consensus Group) and the former aspirant of the gubernatorial election in Ogun State, he is presently a single man after his romance tale to actress cum Politician, Bukky Wright went awry.

We gathered from a reliable source that Okunniyi was the one who lured the ageless actress to join the Olusegun Osoba led Social Democratic Party prior to the 2015 general elections.

READ MORE: http://www.theiconng.com/ogun-politician-olawale-okunniyis-romance-with-bukky-wright-tears-marriage-apart/

The Blues have led the way at the top since August 30 and duly delivered their fourth league crown to seal a fantastic campaign

Chelsea have won the Premier League title for a fourth time after beating Crystal Palace.

Jose Mourinho’s men went into their clash with Palace needing a win to take the crown – and duly delivered with a 1-0 victory to kick-start the celebrations at Stamford Bridge.

PFA Player of the Year Eden Hazard got the only goal of the game, heading in the rebound after Julian Speroni had saved his penalty.

The Blues had one hand on the trophy after their 3-1 win at Leicester in midweek, coming on the back of a 0-0 draw with Arsenal.


READ MORE: http://www.theiconng.com/chelsea-win-premier-league-title-after-1-0-victory-over-crystal-palace/

Wife of the Governor-elect of Oyo state, Chief (Mrs) Florence Ajimobi, is in the news for the wrong reason again. She has done it again as usual. Her middle name is re-asserted to be ‘scandal’.

This time around, she ordered her aides to strip her Chief of Protocol, Mrs Lape Busari, Unclad in public. What is the sin of the 48 year old grand-mother who has suffered the worst of humiliation in her chequered civil service career?

Mrs Florence Ajumobi, according to our sources, about a week before the governorship election called her Chief of Protocol on phone. She narrated what she wants done for her. After the instructions, thinking her boss had dropped whereas the governor’s wife held on to the line.

The Chief of Protocol expressing a summary of the feelings of the personal staff of the Government House said, “let her keep sending me. In about a week, I will wait to see her send me on such errands when they would have been voted out by the people of Oyo state.” An independent source said, “someone who was in the crowd of Government House staff would have gone to gossip to her and not necessarily after the said telephone call.

READ MORE: http://www.theiconng.com/oyo-govs-wife-florence-ajimobi-strips-protocol-staff-Unclad/

Wife of the Governor-elect of Oyo state, Chief (Mrs) Florence Ajimobi, is in the news for the wrong reason again. She has done it again as usual. Her middle name is re-asserted to be ‘scandal’.

This time around, she ordered her aides to strip her Chief of Protocol, Mrs Lape Busari, naked in public. What is the sin of the 48 year old grand-mother who has suffered the worst of humiliation in her chequered civil service career?

Mrs Florence Ajumobi, according to our sources, about a week before the governorship election called her Chief of Protocol on phone. She narrated what she wants done for her. After the instructions, thinking her boss had dropped whereas the governor’s wife held on to the line.

The Chief of Protocol expressing a summary of the feelings of the personal staff of the Government House said, “let her keep sending me. In about a week, I will wait to see her send me on such errands when they would have been voted out by the people of Oyo state.” An independent source said, “someone who was in the crowd of Government House staff would have gone to gossip to her and not necessarily after the said telephone call.

READ MORE: http://www.theiconng.com/oyo-govs-wife-florence-ajimobi-strips-protocol-staff-naked/

How Swiss firm, linked to Oando boss, Wale Tinubu made billions in shady Congolese oil deals
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A Swiss non-governmental advocacy organisation, the Berne Declaration, BD, has uncovered how the Congolese government is denied millions of dollars from its oil export through a shady deal involving a Swiss oil trading firm, Philia SA.

The investigation also reveals Philia SA’s links to the Congolese President’s son, Denis Christel Sassou Nguessoa; the head of Nigerian firm, Oando, Wale Tinubu; and a Nigerian investment banker, Ikenna Okoli.

The deal mirrors how Nigeria lost over $6.8 billion between 2009 and 2011 through an opaque deal involving the Nigerian National Petroleum Corporation, NNPC, Swiss oil traders and politically exposed fraudsters. The investigation also reveals that just like the NNPC, the Congolese government owned refining company, Coraf, withheld earning from oil sales that was due to the country’s treasures therefore denying the oil-dependent country of needed funds for developmental projects.

For instance, Coraf received 6 million barrels of crude worth over $600 million in 2011 and 2012 and made absolutely no return to the Congolese treasury.
Though the exact amount of money made by Philia by virtue of this contract is not known, it is believed to be so significant that Philia, the newbie and hitherto small player, immediately expanded its operations into other oil frontiers in Africa such as Senegal and Gabon.
Philia’s past

Before breaking away into its own independent oil trading activities, Philia was part of a joint venture, known as Petronoir Limited. The venture was formed in notorious offshore tax haven, Bermuda, in March 2012 alongside Oando,


READ MORE: http://www.theiconng.com/how-swiss-firm-linked-to-oando-boss-wale-tinubu-made-millions-in-shady-congolese-oil-deals/

If there is one man who will be cooling off his feet in jail when General Muhammadu Buhari assumes office as the president of the Federal Republic of Nigeria, then it is the DG of the Debt Management Office, DMO, Dr. Abraham Nwankwo.

The DMO is saddled with managing the debt profile of the Federal Government and securing bonds for the nation, but the Nwankwo-led leadership has succeeded in converting some of the bonds taken to personal cash that lands in private pockets.

Investigations carried out by an online news medium, Secrets Reporters revealed that Nwankwo lives a very discreet life, so as to cover the alleged corrupt life he currently lives.

The agency which has the vice-president Namadi Sambo as its Board Chairman raised a bond of $2 billion but ironically spent over $200 million or 10% of the bond secured to pay faceless consultants, when they ought to have these people working inside the office.

We gathered that whenever they go to the International Capital Market (ICM) to raise bond, they pay a lawyer outside the agency, a whopping sum of $700,000 as consultant fees for issuance

READ MORE: http://www.theiconng.com/massive-fraud-uncovered-in-debt-management-office-dmo/

If there is one man who will be cooling off his feet in jail when General Muhammadu Buhari assumes office as the president of the Federal Republic of Nigeria, then it is the DG of the Debt Management Office, DMO, Dr. Abraham Nwankwo.

The DMO is saddled with managing the debt profile of the Federal Government and securing bonds for the nation, but the Nwankwo-led leadership has succeeded in converting some of the bonds taken to personal cash that lands in private pockets.

Investigations carried out by an online news medium, Secrets Reporters revealed that Nwankwo lives a very discreet life, so as to cover the alleged corrupt life he currently lives.

The agency which has the vice-president Namadi Sambo as its Board Chairman raised a bond of $2 billion but ironically spent over $200 million or 10% of the bond secured to pay faceless consultants, when they ought to have these people working inside the office.

We gathered that whenever they go to the International Capital Market (ICM) to raise bond, they pay a lawyer outside the agency, a whopping sum of $700,000 as consultant fees for issuance

READ MORE: http://www.theiconng.com/massive-fraud-uncovered-in-debt-management-office-dmo/

The Chairman, Senate Committee on Education, Senator Uche Chukwumerije is dead. He died on Sunday at 5:30pm today, Sunday, April 19, 2015. He was 75.

A former Minister of information, Chukwumerije was elected a Senator of the Federal Republic of Nigeria in April 2003, representing Abia North Senatorial District.

In the Fourth Republic, Chukwumerije was elected to the Senate on the PDP’s platform, but he fell out of favor with the party’s leadership when he opposed the 3rd term agenda Chukwumerije eventually decamped to the PPA in 2006, and was reelected to the Senate on April 28, 2007.


READ MORE: http://www.theiconng.com/breaking-senator-uche-chukwumerije-passes-on/

The newly appointed Managing Director of Shell Petroleum Development Company (SPDC) Nigeria, Mr. Osagie Okunbor may be bracing up for a turbulent times as the helmsman of the Oil Exploration Company. Okunbor who took over from Mr. Mutiu Sunmonu recently is faced with battle to remain in charge as movement within and outside the organisation have risen up to see him out of the position, the forces are claiming he (Okunbor) lacks necessary technical, operational and leadership qualities to lead the company


MORE: http://www.theiconng.com/shell-petroleum-md-osagie-okunbor-in-fresh-trouble-over-fraudulent-sale-of-oil-blocks/