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Exposed: How Unity Bank MD, Somefun Oluwatomi Runs Various Companies Not Declared In Her Assets Form To EFCC And CBN

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Always dressed modestly in a manner that fits what her mother, Pastor Mrs. Folu Adeboye, wife of the General Overseer of the Redeemed Christian Church of God represents. What many do not know is that Mrs. Oluwatomi Ayodele Somefun who is her first daughter and Managing Director/Chief Executive Officer of Unity Bank is a silent billionaire. Beyond running the affairs of Unity Bank, Mrs. Somefun runs the affairs of other four companies where millions of Naira passes through on daily basis. These companies we learned, are not listed on her assets form as demanded by the Economic and Financial Crimes Commission (EFCC), sources disclosed.

Registered on August 20th, 2010, with RC 907620, Banksome Global Resources Limited has Somefun Ayodele Oluwatomi and her husband Somefun Babajide Anthony as directors. No 17, Sabiu Ajose Crescent, Surulere, Lagos State is listed as the initial address on the CAC documents. Again, on 12th March 2012, she registered Banksome Global Bricks and Blocks Limited with RC 1017210, using No 8, Rasheed Williams Street, Lekki Phase 1, Lagos State as address alongside her husband. On 5th July 2012, she went back to CAC with her husband to float Banksome Global Realtors Limited where they were given RC number 1047480. Plot 27B, Providence Street, Lekk1 Phase was used as address. The bank MD sure had her eyes in the oil and gas, to be a major player. This time, she incorporated Banksome Global Petroleum and Energy Limited with her husband as co-director on 8th March 2013. CAC issued them RC number 1101196. Plot 27, Providence Street, Lekk1 Phase was also used as its address.

We have stumbled on financial documents that suggest that these companies may just be Special Purpose Vehicles for carrying out financial details that runs against the laws of the land. Our EPISODE ONE will focus first on Banksome Global Resources Limited. As a UBA staff when the company was opened, Somefun caused Banksome Global Resources limited to open an account with the bank, where 1015728440 and 1015119837 were allocated to her company as account numbers. She also opened account with First Bank and got 3087605494 as account number. Unity Bank also has account from the company with 31383745 as account number. With an account too in Wema Bank, monies were deposited into account number 703270719. With her former position as a decision maker in UBA, she caused her company Banksome Global Resources Limited to be awarded the contract of supply and installation of LED lights in the bank.

On 6th April 2016, the company was paid N18,525,500 for the lights. On 13th April 2016, they were paid N21,646,000 for the same light. On 21st April 2016, the company got another alert of N22,159,500 for the lights. On 27th April 2016, UBA paid her company N20,658,500 for the LED lights. On 6th May 2016, she got paid N20,935,000. On the same day, her company was credited N26,070,000 for the LED lights. on 11th May 2016, they kept hitting jackpots from UBA with a deposit of N18,951,500 for LED lights supply. On 26th May 2016, UBA also credited her company with N10,270,000 and N22,227,000. On 3rd June 2016, the LED lights payment continued as an alert of N21,251,000 hit her company account for 538 units of the light. On 17th June 2016, she got paid N24,016,000 for the supply of 608 units of LED lights from UBA. On 23rd June 2016, UBA paid her company the sum N17,297,580 for 450 units of LED light. Another sum of N12,798,000 for 324 units of LED light was also paid for. On 1st July 2016, UBA paid the company N13,548,500 for 343 units of LED lighting. On 12th July 2016, the bank again paid the company N24,095,000 for 610 units of LED lights. On 20th July 2016, the payment for LED lights continued as N8,018,500 was paid for 203 units of LED lights. On 24th November 2016, the bank again paid N15,642,000 for 396 pieces of LED lights.

All these monies were credited to the company’s UBA account number 1015119837.

On 12th March 2019, her company had a deposit of N500 million from Oakmont Homes Ltd through its GTB account number 149269525. On 14th of the same month, the company moved out N300 million to Amitec construction and Development limited.

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Organiser unveils speakers, panelists for the 2024 Industry Summit

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The organiser of the Industry Summit, an annual gathering for professionals and experts in brand marketing, finance, sustainability, and entertainment, has announced the speakers for the fifth edition of the summit in Lagos.

 

 

 

The event themed: Sustainable Marketing for Growth would feature the marketing director of Nigerian Breweries Plc, Mr. Emmanuel Oriakhi as keynote speaker while the head of unit, sustainability at Access Bank, Mrs. Omobolanle Victor-Laniyan and manager brand, strategy & communications at Stanbic IBTC, Ms. Rita Akao would feature as guest speakers.

 

 

 

The summit, which is scheduled to hold on Friday, May 3rd, 2024 at the Marcelina’s Place Ikeja GRA, Lagos would feature some exhilarating panel sessions with some of the contemporary professionals in the Nigerian brand and marketing industry.

 

 

 

The panelists include; Ms. Chioma Mbanugo, Head of Marketing PZWILMAR, Mr. Abiodun Coker, Team Member Media, UBA, Mrs. Mabel Adeteye, Head, Brand & Marketing Communications, Wema Bank PLC, Mr. Kevin Olumese, Marketing Communications Specialist, and Mr. Adeola Kayode, Head, Brands & Creative Services, 9mobile Nigeria.

 

 

 

Others who have confirmed participation are Ms. Aisha Anaekwe, Head, Brands & Comms, Coronation Group, Mrs. Victoria N’dee Uwadoka, Public Relations, Public Affairs & Sustainability Lead, Nestle Nigeria Plc, Mr. Samson Adeoye, Public Relations Manager, Airtel Nigeria, Mrs. Oluwatosin Odiagbe, Marketing Manager, Simba Solar and Ms. Arinola Shobande, Head of Marketing, Showmax.

 

 

 

While Oriakhi would be speaking to the topic, ““New Age Marketing – Catalyzing Transformation Through Value Chain Innovation, Technology, Analytics & Sustainability”, Victor-Laniyan and Akao would present papers on the topics; “Aligning organizational objectives with sustainable marketing for the good of the people, society and business, and “Reimagining Sustainable Growth Through Green Marketing” respectively.

 

 

 

In the press statement signed by the Publisher of The Industry Newspaper/Convener of The Industry Summit/Awards (TIES), Mr. Goddie Ofose, he said that “The 5th edition of the Industry Summit is focusing on sustainable marketing, which is a purpose-driven practice that works to orientate businesses, brands and society towards a sustainable future, influencing appropriate awareness, aspiration, adoption and action across economic and sociocultural systems by taking necessary accountability for its impacts and opportunities.”

 

 

 

“In today’s ever-evolving world, debating whether to incorporate sustainability into business strategy is no longer an option. Considering a values-driven approach when developing business strategies can be vital to long-term success” he said.

 

 

 

Therefore, we have carefully selected these professionals and experts to deliberate on the subject matter, highlight challenges and proffer solutions where private and public sectors could take lessons from and improve upon whatever they have been doing,’ Ofose added.

 

 

 

The Industry Summit/Awards is a brainchild of The Industry Newspaper Limited, publishers of The Industry Newspaper (theindustry.ng) and 789marketing.ng.

 

 

 

The summit is designed to bring together industry leaders across the continent in all sectors in the quest to rev up conversations that will move the Nigeria business, economy and communication industry forward.

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IBEDC records 1,459 energy theft cases in January, February

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The Ibadan Electricity Distribution Company said it has recorded 1,459 cases of energy theft by its subscribers between January and February 2024.

This was disclosed in a press statement signed by the firm’s Chief Key Accounts Officer, Mr. Johnson Tinuoye, on Tuesday.

IBEDC added that it is actively pursuing investigations and legal actions against individuals and businesses involved in the theft in collaboration with the Federal Government Special Investigation and Prosecution Task Force on Electricity Offences.

Identifying the cases, IBEDC said they included various offences such as meter bypass and illegal meter tampering, which resulted in significant financial losses amounting to hundreds of millions of naira for the company.

The statement read, “We want to send a clear message to our customers that energy theft will not be tolerated. Our collaboration with the Federal Government Special Investigation and Prosecution Task Force on Electricity Offences underscores our commitment to ensuring a fair and just electricity distribution system.

“Energy theft not only undermines the integrity of our operations but also deprives IBEDC of the revenue necessary to provide quality services to our customers.”

Tinuoye emphasised that under the Electricity Act, energy theft is now recognised as a criminal offense, carrying severe penalties including imprisonment stressing, “In the Osun region, two individuals were apprehended for stealing energy through meter bypass and illegal connections. Their cases have been formally charged in court for prosecution.”

IBEDC further urged customers to refrain from engaging in any form of energy theft, emphasising that the consequences can be severe, as there is no room for negotiation with the SIPTEO Task Force team, which is actively patrolling and investigating instances of energy theft for prosecution.

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Copyright Breach: NCC Drags MTN, Others To Court Over Musician’s Works

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The Nigerian Copyright Commission (NCC) has filed criminal charges against MTN Nigeria Communications Ltd. and four others over alleged copyright infringement.

The charge with number FHC/ABJ/CR/111/2024 filed in the Abuja Division of the Federal High Court was obtained by journalists on Monday.

News Agency of Nigeria (NAN) reported that the four other defendants in the case include the chief executive officer of MTN Nigeria, Karl Toriola; Nkeakam Abhulimen, Fun Mobile Ltd.; and Yahaya Maibe.

In the three-count charge, NCC alleged that the defendants, between 2010 and 2017, “offered for sale, sold and traded for business’’, infringed the musical works of an artiste, Maleke Idowu Moye, without his consent and authorisation.

The commission alleged that the defendants used musical works and sound recordings of Mr Maleke with subsisting copyright as caller ringback tunes without the authorisation of the artiste.

The musician’s musical works and sound recordings allegedly infringed upon included 911, Minimini-wanawana, Stop Racism, Ewole, 911 instrumental, Radio, Low Waist, and No Bother.

The defendants were also alleged to have distributed the musical works to their subscribers without authorisation, thereby infringing on the rights of the artiste.

In the third count, the defendants were alleged to have in their possession, other than for their private or domestic use, the artiste’s musical works and sound recordings.

According to NCC, the alleged offences are contrary to and punishable under section 20 (2) (a) (b) and (c) of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

The case has yet to be assigned to any judge, and no date has been fixed for the mention.

Meanwhile, no official statement has been released by any of the defendants as at the time of filing this report, while all efforts to get reactions from MTN by New Telegraph proved abortive.

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