Business

Kayode Olorundare

Kayode Olorundare

Governor Aiyedatiwa of itOndo is expected to be declared as the winner of the 2024 gubernatorial election in Ondo. In the ruling expected on Wednesday the tribunal' judgment is being expected.

Nigeria defeated co-hosts Australia in Brisbane by coming from behind to win the match, becoming the first African country to do so in the 2023 FIFA Women's World Cup. The Matildas will lose in the first round.

Super Falcons

After huffing and puffing for most of the first half, Australia, still missing the injured Sam Kerr, look to have made a decisive breakthrough in stoppage time when Emily van Egmond side-footed the ball past Nigerian goalkeeper Chiamaka Nnadozie. When Emily van Egmond side-footed the ball past Nigerian goalkeeper Chiamaka Nnadozie in stoppage time, Australia, still playing without injured Sam Kerr, appeared to have made a vital breakthrough.

Kaylinkz

 

It is remarkable because this was Van Egmond's first goal at a tournament since she scored on July 3, 2011, against Equatorial Guinea. Uchenna Kanu, though, was able to direct the ball in when a cross ricocheted into the Australian penalty area, preventing them from maintaining their advantage until halftime.

 

  • Kaylinkz
    1. Abubakar Momoh
    2. Ambassador Yusuf Miatama Tukur CON
    3. Ahmed Dangiwa
    4. Hannatu Musawa
    5. Chief Uche Nnaji
    6. Berta Edu
    7. Dorris Aniche Uzoka
    8. E. David Umahi
    9. E. Nyesom Wike
    10. E. Badaru Abubakar CON
    11. E. Nasiru Ahmed Elrufai
    12. Hon. Ekperipe Ekpo
    13. Nkiru Onyeojiocha
    14. Olubunmi Tunji Ojo
    15. Stella Okotette
    16. Uju Kennedy Ohaneye
    17. Bello Muhammad G.
    18. Dele Alake
    19. Lateef Fagbemi SAN
    20. Muhammad Idris
    21. Olawale Edun
    22. Waheed Adebayo Adelabu
    23. Mrs Iman Suleiman Ibrahim
    24. Professor Ali Pate
    25. Joseph Utsev
    26. Senator Abubakar Kyari
    27. Senator John Eno
    28. Senator Sani Abubakar Danladi

Dr. Deji Adeleke, a well-known Nigerian businessman and pro-chancellor of Adeleke University in Ede, Osun State, started work on a 1,250-megawatt power plant in Ajebandele village, Ondo State, to address Nigeria's electricity shortage and enhance the country's power supply. But because of site theft, this $2 billion ambitious project is already experiencing substantial delays. With a theoretical energy-generating capacity of 12,522 MW, Nigeria struggles to deliver more than 4,000 MW, leaving more than 200 million people with insufficient power. Adeleke was motivated to act as a result of this circumstance and build the power plant to contribute to the current electricity generation.

 

Dr. Deji Adeleke 1

                                                                                     Dr. Deji Adeleke

Speaking during Adeleke University's 9th graduation ceremony in Ede, Osun State, Adeleke reaffirmed his commitment to nation-building and underlined the need for individual accountability. He said that to bring about constructive change, everyone needed to do their part and hold leaders responsible. "I am building a 1250MW power plant. Nigeria currently has about 5,000 MW; adding mine to that is a lot," Adeleke said. It will cost $2 billion. In a community in the state of Ondo, we began it. We installed turbines that were roughly $72 million in cost.

 

Over 1000 people, many of whom were residents of the nearby village, were given work opportunities during the building of the power plant. Adeleke emphasized the significance of enlisting young men from the neighborhood to help protect the power plant from any security threats. The project has seen a significant setback, though, when thieves broke into the power plant site and stole turbine machine parts worth around $5 million. These gigantic copper objects that were taken required at least ten individuals to lift each one since they were so heavy.

Adeleke speculates that the thieves may have utilized trucks to move the looted goods away from the scene while it was still dark.  The construction of the power plant is now anticipated to be delayed by an additional year due to the theft and damage. Adeleke bemoaned the project's additional $5 million cost to replace the components that had been stolen.

The management was forced to fire some of the village's young workers to secure the factory as a whole using security officers from top Nigerian agencies. Despite difficulties encountered during the project, Adeleke never wavered in his commitment to Nigeria. He declined a letter of special exemption from the United Arab Emirates (UAE), as Nigerians were not permitted to enter the UAE. He made this choice in keeping with his core value of supporting his fellow Nigerians. A constitutional change empowering Nigeria's 36 states to create, transmit, and distribute energy within their territories serviced by the national grid was signed into law to address the country's power issue completely.

States can enter the energy production industry because of a development known as the Fifth Alteration Bill No. 33, Devolution of Powers (National Grid System). The completion of Dr. Deji Adeleke's 1,250-megawatt power plant project would have been a significant step in enhancing Nigeria's power supply at a time when the country faces energy issues. But given the setback brought on by the looting, it is clear that safeguarding and defending vital infrastructure is essential for the growth and prosperity of the country.

Idowu Orekunrin, a lawyer, is pleading with Dr. Solomon Arase, the chairman of the Police Service Commission, and Idowu Owohunwa, the commissioner of police for Lagos State, to indict Assistant Superintendent of Police Cosmos Ejiofor, alias Tam-Tam, assigned to D16 of the State Criminal Intelligence and Investigations Department, Panti, Yaba, for allegedly taking property from his client, Ositadin In a petition to Arase and the CP, the attorney from the offices of I. O. Lala and Idowu Orekunrin stated the requests.

The unregistered GLK Mercedes Benz 2013 model, priced at N14.5 million, a Nokia Lumia 900 phone, valued at N300,000, and his international passport were among the things described by Orekunrin as having been taken from his client. Along with having an affair with his ex-wife, abusing police authority, demanding an N1 million bribe, and neglecting his duties, Okololeni also charged Ejiofor with these offenses. Additionally, Orekunrin said that Ejiofor, who smashed Okololeni's head, tortured his client. The attorney believed that Ejiofor's acts were a clear perversion of justice, a violation of the dignity and reputation of the Nigeria Police Force, and behavior unworthy of an officer of the law. Therefore, he requested that an inquiry into the claims be started by the PSC and the Commissioner of Police.

The attorney introduced himself as the legal company representing Mr. Ositadinma Vincent Okoloneli and said that they had filed the petition on his behalf. As stated in his brief, our client's wife contacted her boyfriend and concubine via ASP Ejiofor of D16 SCID, Panti, Yaba, Lagos State, who helped transfer the case against our client from the Ikeja Police Station to the SCIID Panti, Yaba on fabricated charges. This occurred sometime in the last week of April 2022.

"Ejiofor seized and took our client's unregistered Mercedes Benz GLK 2013 Model valued at N14,500,000.00, Nokia Lumia 900 N300,000, and passport before charging our client and the client's brother, Kaosisochukwu Okoloneli, in court. Additionally, Ejiofor asked that our client and his brother pay N1,000,000.00 as a bribe to avoid being accused and shown in court. Our client and his brother were charged with contempt of court and subsequently remanded to the Nigeria Correctional Center on the 20th of June 2022 and the 1st of August 2022, respectively, as a result of their refusal to comply with this mandate.

The case for which our client was brought before the court had nothing to do with the unregistered Mercedes Benz GLK, Nokia Lumia 900, or passport of our client; these items were not mentioned or named as exhibits and have been in ASP Ejiofor's possession ever since. Our legal and considered opinion is that ASP Ejiofor's actions and indiscretions toward our client are primarily an abuse of police authority brought on by his amorous and adulterous relationship with a suspect's wife and his use of his authority as a police officer to prey on a vulnerable married woman.
Dr. Solomon Arase 1

The forced seizure by ASP Ejiofor of our client's unregistered 2013 GLK Mercedes Benz, Nokia Lumia 900 Phone, and Passport without paperwork is, in our legal and considered judgment, theft, and criminal conversion. We strongly condemn ASP Ejiofor's illegal and animalistic behavior and demand that he be punished by the pertinent and current police force orders and criminal laws of Lagos State. With almost 18 years of attachment to the SCIID Panti, Yaba, ascending from a Corporal to a Two Star Officer as Assistant Superintendent of Police without any transfers or redeployments to other police formations, ASP Ejiofor has become a demigod at D16 State SCIID Panti, Yaba, Lagos State.

This has given ASP Ejiofor the confidence to mistreat and violate the Fundamental Human Rights of suspects in his care or those he is looking into, as evidenced by the physical mistreatment and manhandling of our client while in his custody. In the interest of justice, we sincerely requested that an inquiry into this incident and the vile and illegal activities of ASP Ejiofor toward our client and his brother be opened. According to reports, Ejiofor had been advised by several senior police officers to drop the investigation since it included a marital conflict and should be resolved through alternative dispute resolution, but he had resisted their advice.

It was also said that when Ejiofor charged the case in court, the Magistrate dismissed it, saying that the case should not have been filed and that the pair should instead seek alternative dispute resolution. On the subject, Benjamin Hundeyin, a spokesman for the Lagos State Police Command, was called. As of the time of publication, Superintendent of Police Hundeyin has not yet addressed the accusations made against Ejiofor.

Monday, 24 July 2023 15:08

MBAPPE EYES SAUDI ARABIA MOVE

Al Hilal of Saudi Arabia has launched a world-record bid of £259 million to capture French star Kylian Mbappe from Paris Saint-Germain.

 

The French champions have placed Mbappe up for sale and excluded him from their pre-season tour of Japan and South Korea, stating that they only want to invite players who are fully committed to the club.

Mbappe

It is thought that Al Hilal's record-breaking bid is not the only one PSG has received, with the conjecture that other teams have approached the Parisians with a variety of proposals for the free-scoring forward, including cash-plus-players.

 

PSG believes at least five teams, including Tottenham Hotspur, are interested in signing Mbappe.

There is already a "hot market" for the France captain, and PSG expects additional developments this week from interested clubs like Chelsea, Manchester United, Inter Milan, and Barcelona.

According to Bismarck Rewane, CEO of Financial Derivatives, Nigeria's GDP is predicted to increase in the first quarter of 2024. Rewane, who spoke on Arise News on Saturday, said that Nigerians will face "more pain" before the end of the year. "The bad news is that there is pain and that there will be more pain in the short run," he continued, "but the good news is that there will be gains in the first quarter of 2024." "I used to think you'd get it sooner, but you'll need a supplemental budget and to recycle money into the system."

 

Tinubu declared the termination of the petrol subsidy in his first speech as president on May 29, resulting in an increase in the price of petrol at the pump. According to TheCable, the price has risen to N617 per liter in the federal capital territory (FCT) and surroundings, while it is sold for roughly N568 per litre in Lagos. On Saturday, George Akume, secretary-general to the government of the federation (SGF), urged Nigerians to be patient as the government implements remedies to "normalize" petrol prices.

 

The former Benue state governor called the fuel subsidy scheme regressive, saying the yearly payments were unsustainable and that Tinubu "had to act." Tinubu's initiatives to unify the currency rate and restructure the country's security architecture, according to Akume, demonstrate his commitment to protecting the country's future. Rewane commented on the currency rate, saying, "I think the key issue is what system is being used to keep your exchange rate from being fundamentally misaligned. "The exchange rate is misaligned because certain factors are happening that impact it. For example, you may keep certain variables fixed while allowing others to vary.

Thursday, 20 July 2023 15:14

INDEPENDENT MARKETERS BRING IN FUEL

A Nigerian business has become the country's first independent marketer to successfully import fuel. The Nigerian National Petroleum Company Limited (NNPC) has been the sole importer of petroleum products for many years. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has begun giving licenses to oil marketing businesses after the end of the subsidy system. Emadeb Energy Services Limited has broken the Nigerian National Petroleum Company Limited's (NNPC) long-standing monopoly as the exclusive importer of petroleum products into Nigeria.

After over 100 troops invaded the forest in Kagarko LGA, bandits were claimed to have escaped from their hideouts in Kagarko, Iche, Taka-Lafiya Gidan Makeri, and Janjala localities in Kaduna State.

Many rural settlements in Kagarko Chiefdom were under siege by bandits who abducted people and farmers a few months ago, according to City & Crime. However, the situation was claimed to be under control when forces searched their hideouts and some rural areas, arresting many alleged informants. Suleiman Aliyu, a traditional title holder in Kagarko, told our reporter over the phone on Wednesday that the troops, who arrived in Kagarko town around 11 a.m. on Wednesday in Hilux vans, trucks, and motorcycles, went straight to Iche, Taka-Lafiya, Gidan Makeri, and Janjala villages around the forest to hunt down the bandits.

 

He explained that the army arrived after receiving data that some fleeing bandits from the far north were going to build a camp around certain communities in the vicinity. While praising the military's efforts, Aliyu said that since several informants were apprehended, inhabitants of Kagarko Chiefdom had breathed a sigh of relief. An anonymous insider from the Emir of Kagarko's palace informed our reporter, "Yes; some troops in their large numbers entered the forest today, possibly raiding the bandits' hideouts." At the time of reporting this story, the spokesman for the Kaduna State Police Command had not responded to the occurrence.

Thursday, 20 July 2023 14:30

CHELSEA DREAM OF ACQUIRING MAGUIRE

Maguire has been stripped of his captaincy at Manchester United, and head coach Erik Ten Hag has told him he is free to quit. Chelsea are looking for a central defender after selling Kalidou Koulibaly earlier this summer after losing Wesley Fofana to an ACL injury.

Geshi

Maguire had been mentioned as a possible alternative, but according to The Guardian, Chelsea isn't interested in the England international. Instead, the Blues might go after Crystal Palace's Marc Guehi, an academy graduate who joined Palace on a permanent contract two years ago.

 

The 23-year-old's current contract with the South London club expires in three years, so Chelsea would have to make a substantial offer to tempt Palace to sell.

Now, how did Tinubu persuade governors from four different political parties to save up more than fifty percent of the federal revenue generated last month, instead of sharing it? It is unprecedented. Moreover, that's the highest that has ever been generated.

  This is nearly quadruple the amount shared in June (N786.161 billion) and more than triple the amount shared in May (N655.93 billion). Allocations are typically made from the previous month's income, thus June will be distributed in July. The Federation Account Allocation Committee (FAAC) will meet in Abuja on Wednesday to allocate funds to the three levels of government based on the sharing criteria.

  

Statutory collections account for N1.7 trillion of federally collected revenues, with VAT accounting for N293 billion and electronic money transfer levies accounting for N12 billion. There have been rumors that there has never been a month with a larger monthly revenue in Nigeria's history. According to a data research team, the drop in the official exchange rate of the naira may have contributed to the seemingly unusual increase in revenue.

 

FAAC adopted N436.38/$ as the exchange rate for the calculation of the forex component of federally-collected revenues for June 2023 but this has now gone up to at least N750/$. There is no confirmation of the actual exchange rate used for July. FAAC comprises the minister of finance as chairman, all state commissioners of finance, state accountants-general, the accountant-general of the federation, and the permanent secretary of the federal ministry of finance.

 

 How did Tinubu persuade governors from four different political parties to save up more than fifty per cent of the federal revenue generated last month, instead of sharing it? It is unprecedented. Moreover that's the highest that has ever been generated. 

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