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FOLORUNSHO ALAKIJA, OLUSEGUN OBASANJO IN WAR OF WORDS….. ” I MADE YOU A BILLIONAIRE”-oBASANJO… “YOUR GOVERNMENT FRUSTRATED MY EFFORT AND BUSINESS” -ALAKIJA. MORE DETAILS INSIDE!

Published

7 years ago

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One of Nigeria’s former presidents, Olusegun Obasanjo engaged Forbes’ richest African woman, Folorunsho Alakija in a quick trade of words on Saturday.

Obasanjo explained to Alakija that she’s among the 25 billionaires he made during his tenure as President.

The former president made the statement at the 2016 Tony Elumelu Foundation Entrepreneurship Forum in Lagos. He made the statement while reacting to Alakija’s allegation that the Obasanjo administration frustrated her effort when she ventured into oil business.

Alakija, who spoke before Obasanjo, alleged that the administration illegally took an oil block allocated to her company after her family had invested all their savings to strike oil in commercial quantity.

She said: “This oil block is in 5000 feet depth of water and was extremely difficult to explore.

“It took 15 years from the time that we were awarded the licence in 1993 till 2008 when we struck the first oil

“When this event happened, 60 per cent out of our 60 per cent equity in the business, was forcefully taken from us by the government of the day without due process.

“We had to fight back by going to court to seek redress and it took another 12 years for justice to be served in our favour.

“In all those years it was my trust in God, my perseverance and the support of my family that got me going.”

She used her experiences to charge the 2000 budding entrepreneurs at the event to be dogged, determined and not to give up in the face of challenges.

When Obasanjo spoke, the former president seized the opportunity to reply Alakija’s allegation.

“There is a saying in my part of the world that when a proverb touches you and you failed to reply, then you are a coward,” Obasanjo said.

He explained that the action of the government then was in line with the Mining Act, which regulates oil prospection and exploration.

Obasanjo explained: “For you to come here and say that, for no cause whatsoever, you were denied what was rightfully yours, is not fair.

“I do not know you from Adam and there is no reason I would have denied you what rightfully belonged to you.

“So, you have struggled, and you have struck oil. God bless your heart.

“My delight is to be able to create Nigerian billionaires and I always say it that my aim, when I was in government was to create 50 Nigerian billionaires.

“Unfortunately I failed. I created only 25 and Madam, you are one of them.”

Obasanjo hailed the vision of Mr Tony Elumelu for helping to build African young entrepreneurs with his resources.

He also urged the government to create conducive environment for people to move businesses into the country.

The former president urged government to relax its visa policy and company registration process to encourage investors.

He said the government should create certification centres in the country for easy exportation of agro processed products.

The President of Sierra Leone, Bai Koroma noted that what transpired between Obasanjo and Alakija was part of the challenges and difficulties that leaders lived with in the discharge of their duties.

With limited resources competing for unlimited demands and expectations from the people, leaders were seen to be larger than life, he said.

Koroma also commended Elumelu for his project for African young entrepreneurs adding that his vision resonated with a new Africa development agenda

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EFCC: 58 Ex-Govs Embezzled N2.187 Trillion [Full List]

Published

14 hours ago

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May 4, 2024

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According to the EFCC’s allegations, a significant number of former governors, totaling at least 58, have alleged to been involved in the misappropriation, embezzlement, or laundering of approximately N2.187 trillion over a span of 25 years.

This amount does not include properties seized worldwide or those currently being investigated, which amount to billions of Naira.

The amount of N2.2 trillion that was looted is similar to the combined budgets of Lagos State and the South-East states for 2024, totaling N2.25 trillion and N2.29 trillion respectively. This figure exceeds the budgets of the North-Central states and North-East states for 2024, which are N1.89 trillion and N1.60 trillion, by several billion.

The EFCC is currently investigating, probing, and prosecuting 58 ex-governors from various regions of the country. Since the restoration of civilian government on May 29, 1999, there have been at least 170 governors serving in the 36 states of Nigeria.

The 58 ex-governors who are currently or have previously faced investigations by EFCC, with alleged amounts in question, consist of:

late Abubakar Audu (N10.966 bn),

TA Orji and sons (N551 bn)

Yahaya Bello (N80.2 bn)

Chimaroke Nnamani (N5. 3 bn)

Sullivan Chime (N450 million)

Kayode Fayemi (N4bn)

Ayo Fayose (N6.9 bn)

Abdullahi Adamu (N15bn)

Danjuma Goje (N5bn)

Aliyu Wamakko (N15 bn)

Sule Lamido (N1.35 bn)

Joshua Dariye (N1. 16 bn)

Timipre Sylva (N19.2 bn)

Saminu Turaki (N36bn)

Bello Matawalle (N70 bn)

Lucky Igbinedion (N4. 5 bn)

Musa Kwakwanso (N10bn)

Peter Odili (N1000 bn)

Jolly Nyame (N1.64 bn)

James Ngilari (N167 m)

Abdulaziz Yari (N84 bn)

Godswill Akpabio (N100bn)

Abdul fatah Ahmed (N9 bn)

Ali Mode-Sheriff (N300bn)

Willie Obiano (N43 bn)

Ibrahim Dankwambo (N1. 3bn)

Darius Ishaku (N39bn)

Ramalan Yero (N700m)

Achike Udenwa (N350m)

Rochas Okoro ha (N10. 8bn)

James Ibori (N40 bn),

DSP Alamieyeseigha (N2.655bn)

Gabriel Suswam (N3. 111bn)

Samuel Orton (N107bn)

Murtala Nyako (N29bn)

Rashid Ladoja (4.7bn)

Christopher Alao-Akala (N11. 5 bn)

Abdulkadir Kure (N600m)

Babangida Aliyu (N4bn)

Abubakar Audu (N10bn)

Idris Wada (N500m)

Ibrahim Shekarau (N950m)

Adamu Aliero (N10bn)

Usman Dakingari and wife (N5. 8bn)

Attahiru Bafarawa N19. 6bn)

Jonah Jang (N6. 3bn)

Aliyu Doma (N8bn)

Tanko Al’Makura (N4bn)

Boni Haruna (N93bn)

Bindow Jibrila (N62bn)

Adamu Muazu (13bn)

Isa Yuguda N212bn)

Mohammed Abubakar (N8. 5bn).

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Dangote University explains how female student died in her off-campus apartment

Published

15 hours ago

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May 4, 2024

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Tragedy struck on Thursday at the Aliko Dangote University of Science and Technology, Wudil, Kano State, when a female student, Aishat Yahaya Olabisi, was found dead in her off-campus apartment.

Olabisi, a 300-level female student of Food and Science Technology, was said to have been found dead after she returned to her room from the school.

The deceased student was said to have written her first examination in the ongoing first-semester examination at the university on the fateful day.

One of the male students who spoke to PUNCH Online on condition of anonymity on Saturday blamed her sudden passing away on examination pressure.

“The deceased was hale and hearty before she went out to write her first examination in the ongoing first-semester examination,” the student said.

However, following reports in the media that the female student died in the university students’ hostel, the Management of the university clarified the misinformation.

In a statement by the Dean, Students Affairs of the university, Prof. Abdulkadir Dambazau, dated 3rd May 2024, refuted the media claims.

The statement titled “Clarification Regarding False Statement About Student’s Death” read, “It has come to our attention that a recent statement made by DLC Hausa and some media outlets regarding the discovery of a student’s corpse at the students’ hall of residence is entirely false. We wish to address this matter promptly and unequivocally refute these claims.

“On 23 April 2024, we received news about the untimely passing of Yahaya Aishat Olabisi, a diligent and bright student of ADUSTECH Wudil. Aishat spent her last evening engrossed in her studies, diligently preparing for upcoming examinations. The following morning after a shared breakfast with her roommate and a heartfelt conversation with her father, she expressed her intent to rest briefly before resuming her studies. However, destiny had a different plan.

“In the early afternoon of the same day, concerns arose when Yahaya Aishat Olabisi did not respond to attempts to reach her. Upon investigation, it was discovered that she had passed away in her sleep in her off-campus residence. Immediate measures were taken, and she was swiftly taken to the university clinic, where her passing was confirmed by medical professionals.”

The statement added that Olabisi’s remains had been transferred to the Aminu Kano Teaching Hospital for postmortem analysis.

“Given the circumstances, her remains were transferred to Aminu Kano Teaching Hospital for postmortem analysis to ascertain the cause of her sudden demise. Meanwhile, her grieving parents, who hail from Ilorin arrived the following day to bid farewell to their beloved daughter.

“In honouring her memory and bidding her farewell, Aishat was laid to rest on 24 April 2024, surrounded by family, friends, and members of the academic community who mourned her loss deeply,” the statement added.

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Court Sentence FCMB Branch Manager to 121 years in Prison for embezzling Customers Funds

Published

23 hours ago

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May 4, 2024

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FCMB is a leading financial institution in Nigeria has received a big shock of the year as one of its staff has been thrown to prison for fraud and embezzlement.

Justice S. Odili at the Anambra State High Court in Onitsha, Anambra State, sentenced Mr Nwachukwu Placidus, a bank manager at First City Monument Bank FCMB, Onitsha Anambra State to 121 years in prison for embezzling N112 million from a customer’s fixed deposit account.

The Honorable justices delivered the verdict resulting in the conviction and sentencing of a former manager at the First City Monument Bank’s branch in Onitsha, who has now been sentenced to a total of 121 years in prison for misappropriating fixed deposit funds totaling N112,100,000 from a customer for personal use. This is tantamount to a breach of trust by the former manager which has attracted a huge jail term.

 

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