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MIKE ADENUGA’S GLOBACOMM COMUNICATIONS DARES NCC OVER DEBT MESS….. + Documents Attached!

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Globacom Nigeria is calling the bluff of the regulatory commission based on petitions sent to the commission by the Wireless Applications Services Providers Association of Nigeria (WASPAN).
The association sent the petition over debts owed by Globacom to its members totaling over N2billion.
In the petition; WASPAN alleged that Globacom refused to pay them their 20% portion of revenue made by Globacom from Value Added Services rendered to Globacom subscribers since 2013. They also complained that Globacom refuses to give a detailed log of their services to show how much Globacom truly owes them. It is believed that the debt owed by Globacom, if fully investigated, is far in excess of the N2billion claimed as the total outstanding by Globacom.

In its mediatory function as a regulators; NCC had mandated Globacom to produce within 30 days the detailed logs of the services rendered by the vendors and also make immediate payment to all Wireless Applications Service Providers that are being owed by Globacon.
The 30 days ultimatum expired on October 15 without Globacom complying with any of the directives of the NCC.
In one of the attached internal memos; see that Globacom was owing the vendors N805,022,709 as at December 2014 which till today remains unpaid. Also note that some vendors’ services have not been paid from February 2013, almost 3 years now!!! The memo is dated April 1, 2015.

An approval attached; via internal memo dated June 1, 2015 but was signed by the signatories in August 2015 shows outstanding amount for January 2015 to be N208,974,917. Even though you can see an instruction from Dr. Mike Adenuga to pay, that payment has not been done till today. Globacom management raised this memo after the ownership of company claimed that they can only pay a maximum of N200m to vendors at any time; that is why you can see all sorts of extrapolations to arrive at the N208m.
Now into simple arithmetic, if the average invoice of the vendors is N200m per month and they have not been paid this year at all (10months as at October 2015), the outstanding amount due for this year alone is N2billion plus the previous amount of N805,022,709 that was outstanding as at December 2014 which makes a total of at least N2.8billion being owed to the vendors.
Based on the contract signed with the vendors; Globacom earns 80% of the revenue on Value Added Services while the vendors earn 20%; this revenue share to the vendors is also the lowest in the industry. In essence, it means Globacom has already pocketed their share of the revenue being N11.2billion conservatively put.
We believe Globacom is relying on its existence as a Nigerian company to influence the decision of the regulatory body as it has done in past dispensations. Even the second letter written to Globacom has not made Globacom to pay up because they wrote back to NCC saying that they are working on the payments. Globacom is just out to kill Nigerian companies.
Globacom cannot claim to be verifying the authenticity of the figures because the internal memos attached by the marketing dept accountant (Ambrose), head of revenue assurance dept (Sharma), head of internal audit (Awojulu), director of finance (Toluhi) and director of treasury (Disu).

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Lagos Lawyer Gboyega Adetunji Delves Into Agriculture, Floats Abundish; A Revolutionary Farm-To-Table Outfit

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Barrister Gboyega Adetunji, a Lagos-based renowned legal practitioner, has ventured into agriculture with the launch of Abundish, a revolutionary farm-to-table service aimed at transforming how Nigerians access fresh, high-quality, and healthy farm produce.

 

Abundish is committed to offtake directly from farmers and supply to consumers promoting sustainable agricultural practices, and ensuring fair market value for produce.

 

The innovative platform offers a subscription-based model, allowing customers to customize their experience and receive curated selections of fresh, seasonal produce delivered conveniently to their homes.

 

“I’m thrilled to embark on this new journey, combining my passion for sustainable living and community development,” said Barrister Adetunji, Founder and CEO of Abundish.

 

“Our goal is to empower farmers, support local economies, and provide healthy, fresh produce to consumers while reducing food wastage and promoting sustainable practices.”

 

“Abundish is more than just a bridge,” says Barr. Gboyega Adetunji.

 

“We are a movement bringing fresh, high-quality produce whether cash or food crops directly from the farm to the end consumer, cutting out unhygienic produce, reducing landing costs of produce, and the convenience of doorstep delivery it affords our customers. This does not only benefits our customers, but also supports sustainable agricultural practices, grows the naira and local economies, and also empowers the farmers who nourish our communities.

 

Reacting to what inspires his diversification, Barr. Gboyega said “I’d always wanted to have my little farm that can cater for at least 80% of my consumption, but then I realized how impactful it would be if this practice could be extended to others, hence the creation of the Abundish brand”

 

When asked what sets Abundish apart from its counterparts, Barr. Gboyega said, “Abundish offers a unique subscription model, allowing customers to customize their experience and receive a curated selection of the freshest seasonal produce delivered conveniently to their homes. By bypassing traditional distribution channels, Abundish reduces food waste, ensures peak freshness for consumers and the amount of time doing tedious work of purchase and clean up”.

 

“Abundish offer fresh farm produce at fair market value, championing food security with sustainable practices” he added.

 

At Abundish, we are not just passionate about delivering farm-fresh produce, we are committed to creating a positive impact on our world. That is why we operate with the UN Sustainable Development Goals (SDGs) in mind, striving for a more sustainable, equitable, and food-secure future.

 

Join The Abundish Movement, visit www.abundish.info to learn more about Abundish, and subscribe to receive the freshest produce delivered at your convenience.

 

Follow Abundish on social media platforms for behind-the-scene farm footage, exclusive offers, recipes, and our social impact initiatives.

 

X (Twitter) – @abundish

 

Instagram – _@abundish

 

Facebook – Abundish

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US-based Nigerian Jailed 41 Months For Operating Illegal Money Transmitting Business; Funds Wired To Lagos Bank

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A Nigerian man based in the United States Oluwafemi Osinowo has been sentenced to 41 months in a federal prison after he was convicted of operating an illegal money transmitting business.

 

U.S. Attorney Ronald C. Gathe, Jr. in a press release issued by the U.S. Attorney’s Office, Middle District of Louisiana on Monday, announced that Chief Judge Shelly D. Dick also sentenced Osinowo, 35, of Miami, Florida, to three years of supervised release following his term of imprisonment.

 

According to admissions made as part of his guilty plea, from December 2016 to January 2019, Osinowo operated an unlicensed money transmitting business.

 

He confessed that he conducted foreign currency exchange business without complying with required federal registration requirements.

During the course of operating the business, money was transmitted from third parties from the Middle District of Louisiana and elsewhere to bank accounts located in Miami, Florida.

 

Once the money was in the bank accounts in Miami, Florida, an individual acting as an agent of Osinowo’s business wired the money to a bank in Lagos, Nigeria. Those wire transfers included approximately 51 separate transmissions in the aggregate total of approximately $722,177.

 

 

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‘Stolen’ $6.2m: What Emefiele Told Us In Kuje Prison – Investigators

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One of the investigators handling the case of $6,230,000 allegedly stolen from the Central Bank of Nigeria (CBN) on February 8, 2023, has revealed what Godwin Emefiele, immediate past governor of the apex bank, told them at Kuje prison.

The former CBN governor, who is standing trial on an alleged 20-count amended charge, preferred against him by the Economic and Financial Crimes Commission (EFCC), was once remanded at Kuje prison.

He was alleged to have engaged in criminal breach of trust, forgery, conspiracy to obtain by false pretence and obtaining money by false pretence when he served as central bank chief.

In an affidavit filed before a Federal High Court in Abuja, one of the investigators, a Deputy Superintendent of Police, gave details of investigators’ findings and progress made so far.

The Deputy Superintendent of Police was quoted to have said: “We visited Kuje Correctional Centre, where we interviewed Godwin Emefiele, who purportedly approved the memos authorising the payment, as then CBN gov and he denied seeing, talk less of approving such memos.

“We also arrested some concerned staff of the Central Bank of Nigeria, who denied any involvement in the crime, before we finally arrested Bashirudeen Maishanu, who corroborated the account of Abdulmajeed Muhammad and further confessed to have been involved in the crime which, according to him was perpetrated by himself and the first to third defendants/respondents – Adamu Abubakar, Imam Abubakar and Odoh Eric Ocheme.

“Bashiru Maishanu further confessed that himself, the first and second defendants/respondents (Adamu Abubakar and Imam Abubakar) shared the sum of $2,500,000.00 from the stolen money, while the third defendant/respondent (Odoh Eric Ocheme), being a fellow staff of the Central Bank of Nigeria, kept the balance of $3,730,000.00 claiming that he had other interests to settle in the CBN.

“Bashirudeen Maishanu further confessed that both himself, and the first and second defendants/respondents jointly invested the United States dollars equivalent of the sum of N1, 440,000,000.00 into real estate business of Afrolyk Global Ltd.

“The Managing Director of the said Afrolyk Ltd, Aminu Lawal has been arrested and he confirmed the investment by Bashirudeen Maishanu, Adamu Abubakar and Imam Abubakar, and already refunded the sum of $200 000 00 to the Special Investigator’s team as part of the money he (Aminu Lawal) received as part of the purported investment.

“Cash of about $400,000 00 has also been voluntarily returned by Bashiru Maishanu from part of his remaining share of the money in question. The money (the $6,230,000) was received in cash from the Central Bank at Nigeria and also shared in the same cash by the defendants/respondents and others, making it difficult to trace the monies without arresting the defendants/respondents.

“It was later revealed that the third defendant – Odoh Eric Ocheme – was the Personal Assistant to Godwin Emefiele as the CBN governor while the first and second defendants (Adamu Abubakar and Imam Abubakar) are businessmen and associates of Bashirudeen Maishanu.”

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