The Economic and Financial Crimes Commission will on Wednesday, April 17, 2024, arraign a businessman and socialite, Pascal Okechukwu, popularly known as Cubana Chief Priest, before the Federal High Court in Lagos, over allegations of abusing the naira.

Cubana Chief Priest will be arraigned before Justice Kehinde Ogundare on a three-count charge of allegedly spraying and tampering with the naira notes at a social event contrary to the provisions of the Central Bank Act of 2007.

In the charge filed on April 4 by the EFCC’s prosecutor, a Senior Advocate of Nigeria, Rotimi Oyedepo, and seven other lawyers representing the chairman of the anti-graft commission, it was alleged that “Okechukwu Pascal on February 13, 2024, at Eko Hotel, within the jurisdiction of the court, while dancing during a social event, tampered with funds in the denomination of N500 notes issued by the Central Bank of Nigeria by spraying same for two hours, and thereby committed an offence contrary to and punishable under Section 21(1) of the Central Bank Act 2007.

In count 2, it was alleged “that you, Okechukwu Pascal sometime in 2020, in Lagos during a social event, tampered with funds in the denomination of N500 issued by the Central Bank of Nigeria by spraying same for two hours, and you thereby committed an offence, contrary to and punishable under Section 21(1) of the Central Bank Act 2007.”

In Count 3, it was alleged: “that you, Okechukwu Pascal sometime in January 2024, in Lagos during a social event, tampered with funds in the denomination of N500 issued by the Central Bank of Nigeria by spraying the same and you thereby committed an offence, contrary to and punishable under Section 21(1) of the Central Bank Act 2007.”

The EFCC, on April 5, secured the conviction of popular cross-dresser, Idris Okuneye, also known as Bobrisky, on similar charges for which he was sentenced to six-month imprisonment.

Last modified on Wednesday, 17 April 2024 12:52

Winner of the Big Brother Naija ‘PepperDem’ edition, Mercy Eke, has been hospitalized hours after partying with friends on a yacht.

Naija News reports that the reality TV star made this known in a post on her Snapchat.

She also shared a photo of herself on the hospital bed, urging her friends to avoid wasting their time in anger, regret, worries and grudge because life is too short to be unhappy.

She wrote, “Don’t waste your time in anger, regrets, worries and grudges. Life is too short to be unhappy. Who would have thought that I will end up in a hospital barely 24 hours I was seen outside. I’m just having different thoughts of what could have been the worst case. God I thank you for your loving kindness. Life is so fickle.. good health is underrated.”

Why I Have Decided To Keep My Relationship Private

Meanwhile, Mercy Eke has revealed that she keeps her dating life private because of her past experiences.

She noted that she made a couple of mistakes in the past when she shared her dating life on social media.

Eke stated this in a recent episode of the Celebrity Quickies posted on comedian AY’s YouTube page.

According to her, she is in a relationship, but has decided to keep the identity of her man private.

Eke disclosed that she can’t go a day without talking to her mystery lover.

She said Nigerian celebrities are under a lot of pressure, stressing that most of the pressure is from the people around them.

The reality star said regardless of that, Nigerian celebrities are breaking new grounds.

[NaijaNews]

Aisha Galadima, a political ally of former Kaduna State Governor, Nasir El-Rufai, who was arrested by operatives of the Department of State Security (DSS), has confirmed her release.

Although the reasons for her arrest are uncertain, reports revealed that the strong ally to the former governor may have instigated the current administration with her political views targeted against its principal, Governor Uba Sani and shared via her Facebook page.

Operatives of the DSS were said to have stormed her residence in the Tudun Wada area of Kaduna on Sunday afternoon and was whisked off in a Hilux. Her phone lines were subsequently unreachable.

But the Kaduna government when contacted by the press, expressed its ignorance of the situation.

“I’m not aware that a woman was arrested for posting a negative comment against His Excellency. In any case, you should direct your enquiries to the DSS, not the Kaduna State Government,” the Chief Press Secretary to the governor, Muhammad Shehu was quoted to have said.

Checks by THE WHISTLER on her Facebook page discovered most posts by Galadima to have expressed an unwavering support for Nasir El-Rufai, accompanied with his pictures, while others had a direct and indirect criticism of the present administration’s policies, and happenings in the state.

As frequent and engaging as her posts are on her page of over 11,000 followers, Galadima’s last post before her purported arrest was on Sunday. It read, “Living with integrity is better than living with leadership Malam Nasir El Rufai (sic).”

Twenty-four hours after she was reported to have been released, Galadima posted, “Alhamdulillah”, translated — “Praise be to God” — with over 132 comments congratulating her on her release.

Galadima in another post said, “Even If I will be killed, I am with you Malam Nasir El-Rufia”.

She continued, “These are signs of their failure in 2027”, alluding to the former governor’s victory in the 2027 presidential election.

Confirming her release to Daily Trust, Galadima said she was harassed and beaten by operatives of the secret police.

“I was inside my room about to take my bath when they came in and dragged me out. I saw four of their Hilux outside the gate. They pushed me inside and drove away,” she said.

According to her, the DSS had accused her of making some posts against the governor in February.

Recall that Governor Sani revealed that his administration inherited a burden of $587m and N85bn debts as well as 115 contractual liabilities from El-Rufai, noting that the fluctuating exchange rate worsened the state’s capacity to repay almost triple the monies borrowed his former principal.

Sani lamented that a significant amount of the state’s federal allocation goes into servicing the debts while stating that in March alone, N7bn out of the N10bn federal allocation to the state was deducted for debt servicing, leaving just N3b to cover expenses.

However, Bashir El-Rufai, son of the former Governor fired back accusing Sani of negligence of duty, contract inflation, and speculative financial practices.

Bashir accused the governor of lobbying and approving the loans while he (Uba Sani) was a senator.

Governor Sani was the Kaduna Central Senator in the 9th Senate before he emerged as the state governor in the 2023 elections.

Last modified on Wednesday, 17 April 2024 12:51

PBAN-President,-Emmanual-Onuora-and-Bread

 

The President of the Premium Bread Makers Association of Nigeria (PBAN), Emmanual Onuorah has explained that the 15 per cent Wheat Development Levy on bread and the cost of other inputs are responsible for the high cost of the commodity despite the appreciation of the naira against the United States dollar.

The PBAN president revealed this on Tuesday during a presentation on Arise News’ Global Business Report.

The price of a loaf of bread rose to around N2,000 in February after bakers reported an increase in a bag of flour from N37,000 to N42,000 and sugar from N62,000 to N72,000.

The naira has gained against the dollar from N1,700 in February to nearly N1,000 in April.

Onuorah explained that wheat constitutes 60 to 65 per cent which are imported from Ukraine, Russia, and other parts of the world.

He said, “Since this crisis (Russia/Ukraine war) started about three years ago, it has led to an upending of our pricing structure as regarding wheat. As a country Nigeria produces, we can grow wheat in 15 states.”

The PBAN president said bread makers pay 15 per cent Wheat Development Levy which is transferred to the final consumers.

He said, “For instance, they (federal government) take 15 percent for every bread that you eat, for every flour that we buy, 15 percent of it is taken for wheat development level.

“Cumulatively, the duty on wheat is 30 per cent and 15 per cent Wheat Development Levy that Jonathan initiated in June 2012 and was supposed to be adopted or a stopgap. But it’s still their till today.

“They are supposed to use it for R&D and all of it. But it’s still the same thing, redoing corruption and all that. We are not getting the benefit of that. And that’s why we’ve been asking the government, to remove this thing, and place a moratorium on wheat import since Nigerians are hungry.

“So, we’ll keep pushing on the pressure. That’s why we are a pressure group. And we must use our platform to ensure that Nigerians also get cheap bread.”

He also said the cost of diesel, electricity bills and other inputs are responsible for the prices.

Last modified on Wednesday, 17 April 2024 12:51

Kaka, the Brazilian football legend, has spoken out about his divorce in 2015, responding to a strange claim made by his ex-wife.

Kaka married his childhood sweetheart Caroline Celico, while playing for AC Milan in 2005 and they had a son and daughter together, before splitting a decade later.

Last week, it was reported that Celico claimed she left the marriage, because “he was too perfect for me”.

 



But Kaka, now 41, speaking on a podcast, as reported by Spanish outlet Sport, insists he did everything he could to avoid the split.

He said: “In 2015 I was married, and my wife at the time decided she didn’t want to be married anymore.

“She said, ‘I’m not happy and I attribute my unhappiness to marriage’.

“I was living in the United States, and she asked to go back to Brazil.

“Her words were, ‘I want to go back to Brazil, I want to live there and I don’t want to be married anymore’.”

Last modified on Wednesday, 17 April 2024 12:51
The hideout of Yoruba Nation agitators has been uncovered by security operatives in Oyo State.
 
The hideout was found in Oluyole local government area.
 
 
It was learnt that the hideout was discovered at Fatusi and Shagari, Olode sector of the Oluyole local government area.
 
A video made on Tuesday showed that some items were found in the hideout.
 
Some of the items are army uniforms and other items.
 
Details soon

Media

Last modified on Wednesday, 17 April 2024 12:51

Self-styled relationship expert, Blessing Okoro, aka Blessing CEO, has claimed that most women cheat in their marriages because of irresponsible spouses.

According to her, it is impossible for a woman who caters for her family not to cheat.

Okoro stated this in the latest episode of her TV show, Moments With Blessing CEO.

 

She urged men to be financially stable and responsible to avoid infidelity on the part of their spouses.

“As a man, you have to get a job. How would you leave responsibilities for a woman for 9years and you’re expecting her not to sleep around?” she remarked.

DAILY POST reports that the topic of infidelity has dominated the Nigerian social media space, following the recent cases of paternity fraud.

[DailyPost]

Last modified on Wednesday, 17 April 2024 13:18

Manchester United have spoken to Alejandro Garnacho after the winger liked social media posts criticising manager Erik ten Hag over his handling of the player.

 

The Argentina international, taken off at half-time in their 2-2 draw at Bournemouth on Saturday, liked two messages on X, by United fan and YouTuber Mark Goldbridge.

 

One post accused Ten Hag of “throwing (Garnacho) under the bus” because of comments the United boss made about the 19-year-old’s performance.

The other said Garnacho “had a poor first half but taking him off at half-time and holding him up as the problem is a joke”.

 

Garnacho swiftly “unliked” both messages, an action the club believes shows contrition, and a United source told the PA news agency the matter had been dealt with internally.

The teenager has become a key player for United this season, scoring nine goals and providing four assists in 42 games.

The incident follows one in September when Jadon Sancho said on X that he had been made a “scapegoat” after being left out of the squad for the Arsenal match, with Ten Hag saying he had trained poorly.

Sancho said he would “not allow people saying things that (are) completely untrue”, interpreted as accusing Ten Hag of misrepresenting reasons why he was not in the side.

The 24-year-old was banished from the first team before being loaned to Borussia Dortmund in January.

Ten Hag’s position has come under renewed pressure after the draw against Bournemouth, which left United seventh in the Premier League table, 13 points off the top four.

 

The FA Cup is the only silverware that United can win this season — they take on second-tier side Coventry in the semi-final at Wembley on Sunday.

[Vanguard]

At the backdrop of sustained rise in prices of staple food items in the market, Nigeria has recorded an unprecedented food inflation rate of 40 percent in March 2024.


Economists and financial analysts explained that the development would put more pressure on the purchasing power of average Nigerian and they also predict that the trend will continue for some months before stabilising.

The food inflation drove the headline inflation rate to 33.2 percent, up from 31.7 percent recorded in the month of February.

The figures released yesterday by National Bureau of Statistics, NBS, in its Consumer Price Index, CPI, report for March 2024, represented a 2.09 and 1.5 percentage percentage points increases month-on-month.

But the analysts see a wider headline inflationary rise in this month to 34.6 percent, representing a 2.4 percentage month-on-month rise resulting from the recent hike in electricity tariff.


Electricity tariff hike to drive further inflation – CardinalStone


Analysts at CardinalStone Finance Limited, a Lagos based investment house, indicated that further inflationary upswing should be expected following the recent drastic hike in electricity tariff.

They stated: ‘’The inflation outlook is biased to the upside, a consequence of the recent implementation of a new electricity tariff. For context, the Nigerian Electricity Regulatory Commission (NERC) have hiked price for Band A customer from N68 to N225 per kilowatt hour.


‘’Nevertheless, we see some downside risk from the recent currency sustainability. ‘’Overall, we project inflation to print 34.6% in April 2024.’’

In the meantime, analysts at Alpha Morgan Capital said: “From our analysis, we project that inflation will further increase but at a continuously slower rate. We tie this prediction primarily to the recent monetary interventions by the Central Bank of Nigeria in mopping up excess liquidity, curbing volatile exchange rate movement through various aggressive currency interventions, government fiscal policies, such as agricultural interventions, among others.”

Devpt is bad for businesses – NACCIMA

Meanwhile, OPS said that the persistent rising inflation could sound the death knell for small businesses in the country, with consequential loss of jobs and worsened insecurity.


Commenting, Director General of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Sola Obadimu, said: “Persistent rising inflation is bad for business as well as for individuals.

“It erodes income in value terms and purchasing power becomes weaker for both individuals and businesses. Inventories will continue to grow.

“It is bad for planning purposes and breeds growing uncertainty. Cost of doing business continues to grow leading to higher cost of goods. It’s cyclical.

“Even when businesses or individuals tend to earn higher income, the value (in real terms) becomes lower.”

In his reaction, President of Association of Small Business Owners of Nigeria (ASBON), Dr Femi Egbesola, said the development will worsen survival of small businesses.


He stated: “The new and rising inflation rate, affecting largely food, essential commodities, raw materials, electricity and alternative power generation, transportation among others, will continue to worsen the survival and growth of SMEs.

It will, no doubt, squeeze out the meager working capital of SMEs and make us more vulnerable to extinction.

“Not all costs can be passed to the consumers but even at that, certain costs will be passed onto them, and since they also have had their disposable income eroded by inflation, sales of goods and services of SMEs will drastically drop. For an average citizen, their standard of living and welfare will significantly drop too.

“More Nigerians will suffer from hunger, and lack of access to basic necessities and amenities, worse of it is health and medical needs.

“Overall, the implications of this on SMEs is that many more businesses will die off and become ailing, job losses will increase as many more businesses will lay off workers.


“There will be an increase in bad loans as more SMEs will be unable to fulfill their loan obligations leading to decreased access to funding from banks that will be more averse to lending to SMEs particularly with the increased interest rate, now coupled with inflation.

“More insecurity will prevail in the land for many will look for alternative illegal ways of survival. More will migrate in the name of Japa.

“The extinction of more businesses will open doors for imported products to take their space which eventually will also stress the Naira exchange rate.”

In its CPI report NBS stated: “In March 2024, the headline inflation rate increased to 33.2 percent relative to the February 2024 headline inflation rate which was 31.7 percent .

“On a YoY basis, the headline inflation rate was 11.16 percentage points higher compared to the rate recorded in March 2023, which was 22.04 percent.


On food inflation the bureau said: “The food inflation rate in March 2024 was 40.01 percent on a year-on-year basis, which was 15.56 percentage points higher compared to the rate recorded in March 2023 (24.45 percent).

“The rise in Food inflation on a year-on-year basis was caused by increases in prices of the following items garri, millet, akpu uncooked fermented (which are under the bread and cereals class), yam tuber, water yam (under potatoes, yam, and other tubers class), dried fish sadine, mudfish dried (under Fish class), palm oil, vegetable oil (under Oil and Fat), beef feet, beef head, liver (under Meat class), coconut, water melon (under Fruit Class), Lipton tea, Bournvita, Milo (under coffee, tea and cocoa class).”

Last modified on Wednesday, 17 April 2024 13:17

The police have launched a manhunt for Mrs. Dupe Onitiri-Abiola, a suspected sponsor of the invasion of the Oyo State Government Secretariat in Ibadan by some Yoruba Nation agitators.

The manhunt for Mrs Onitiri-Abiola, a widow of the business mogul and prominent politician, the late Chief Moshood Abiola, began after the emergence of a viral video in which she claimed responsibility for the violence on Saturday, April 13.

The armed agitators, clad in military camouflage, invaded the Oyo State House of Assembly complex located inside the secretariat and hoisted their flag on Saturday morning. They also attempted to breach the security of the governor’s office, before they were repelled by security operatives.

No fewer than 21 of the agitators were rounded up.

Those arrested were on Monday, April 15, paraded by the police with the arms, ammunition, camouflage and other items recovered from them.

Oyo State Police Commissioner, Adebola Hamzat, who paraded the 21 suspects, described the invasion as a criminal, unpatriotic and a clear case of treasonable felony and terrorism, which would be meted with adequate sanctions.

Although he did not mention the name of Mrs Onitiri-Abiola, Special Adviser to the Oyo State Governor on Security Matters, Mr Fatai Owoseni, said he was aware that she is leading a group of Yoruba Nation agitators. Owoseni, in a televised statement, acknowledged Mrs Onitiri-Abiola’s longstanding involvement in separatist movements and highlighted the need for security reform and youth engagement to prevent similar incidents in the future.

Prof. Banji Akintoye, who is the leader of another Yoruba group along with Sunday “Igboho” Adeyemo, in a statement on Saturday dissociated his group from the action. He alluded to the group as the one led by Mrs. Onitiri-Abiola.

Subsequently, a viral video by Mrs Onitiri-Abiola claiming leadership of the group surfaced on social media.

The Oyo State Police Commissioner said the arrested suspects have been listing the names of their sponsors, adding that the police had visited some locations within Oyo State where some incriminating items were recovered.

The Commissioner urged parents and leaders to discourage their wards from engaging in activities that threaten public order, emphasizing the need for collective efforts to safeguard the state and nation.

Last modified on Wednesday, 17 April 2024 13:17