The arrest of Saheed Wasiu, popularly known as K-Federal, has been confirmed by the Osun State Police Command.
According to a statement signed by Yemisi Opalola, the Command’s spokesperson, Wasiu was earlier wanted by the police for murder and cult related activities.
The statement also revealed that the suspect is a member of the Rasheed Hammed, a.k.a. Oko-Ilu-led Eiye Confraternity and was arrested around Alusekere area, Ede, by detectives from the Special Anti-Cultism unit.
She said, “On 07/05/2023 at about 1400hrs, upon tip-off received that, one Saheed Wasiu ‘m’ popularly known as K-Federal, one of the deadly and notorious members of Rasheed Oko-Ilu led gangster was around Alusekere area, Ede, Osun State, Police detective from Special Anti-cultism unit swung into action and arrested the suspect.
“During the interrogation, he confessed to be a member of Eiye confraternity led by one Rasheed Hammed, a.k.a Oko-Ilu who has been arrested and remanded at correctional custody some time ago.”
Opalola disclosed that the suspect confessed to taking an active part in the killing of twenty persons in Ede town.
“Suspect confessed to having participated in the killing of almost twenty (20) innocent citizens of Ede town and dropped their corpses at Osun River, Sagba area, Ede. Among the victims they have killed are: late Wale, Jamiu, Ganiyu, Azeez and Eyimba and others,” she added.
She revealed that the suspect will be charged to court after the completion of investigation.
Popular Nigerian actress, Uche Ogbodo has taken to Instagram to flaunt her baby bump.
The entrepreneur who looked beautiful in the photos is currently pregnant with her third child.
This will be Uche's second child with her husband, Bobby Marris.
See Photos Below;
Billionaire businesswoman and philanthropist, Folorunso Alakija has blamed social media and dating apps for the difficulty in establishing genuine and lasting relationships.
The clergywoman argued that social media has made it increasingly difficult to find the right partner.
Alakija stated this via her Facebook page on Thursday, May 11, when she spoke on the need for singles to learn about God’s true purpose in marriage and how to identify green flags or the red flags of a healthy relationship.
She urged her audience to reflect on what they truly need from a partner and put their eyes out for red flags that could signal trouble in the future.
She said, “After years of guiding young people toward building healthy relationships, I know first-hand how challenging it can be to find the right partner.
“Social media, dating apps, and the fast-paced culture in our world today have made it even more difficult to establish genuine connections and build lasting relationships.
“In a world where we’re constantly bombarded with options, it’s easy to lose sight of what really matters in a relationship.
“However, It’s important to take the time to reflect on what you truly value in a partner and to keep an eye out for potential red flags that could signal trouble down the road.”
The Federal Government spent $112.35m servicing external debt in January 2023, according to findings by The PUNCH.
Data from the Central Bank of Nigeria’s Weekly International Payments showed that the amount spent in January was 146.17 per cent higher than the $45.64m spent in December 2022.
This occurred as the Federal Government struggled to boost its revenue base despite its revenue generation efforts.
The PUNCH earlier reported that the Federation Account Allocation Committee shared N750.17bn among the three tiers of government in January 2023.
The figure represents a decrease of N240.02bn compared to the N990.19bn shared in December 2022.
In 2022, Nigeria spent $2.4bn to service its external debt, which was a slight increase from the $2.11bn spent in 2021.
The PUNCH also reported that the Federal Government deducted over N78bn from allocations made to the states for external debt servicing.
This was according to data from the Federation Account Allocation Committee Disbursement reports published by the National Bureau of Statistics.
The deductions were made in 2022 from the allocations given to state governments from the Federation Account.
The federation account is currently being managed under a legal framework that allows funds to be shared under three major components: statutory allocation, Value Added Tax distribution and derivation principle.
The PUNCH observed that the most hit state by the deductions was Lagos, with about N23.61bn deducted in 2022 for external debt servicing.
It was followed by Kaduna, with N10.25bn deducted, and Cross River with N7.56bn deducted.
The International Monetary Fund recently said the Federal Government projected to spend 82 per cent of its revenue on interest payments in 2023.
According to the IMF, external debt (including that of the private sector) will rise to $121.6bn, with external reserves climbing to $37.5bn.
It disclosed this in a table of projections in its ‘IMF Executive Board Concludes 2022 Article IV Consultation with Nigeria Summary
The projections showed an improvement in the share of the government’s revenue used as interest payment, with interest payment falling from 96.3 per cent in 2022 to 82 per cent in 2023.
It added that interest payment was 86.1 per cent and 87.8 per cent of the Federal Government’s revenue in 2020 and 2021, respectively.
[Punch]
Elon Musk, the billionaire founder of Tesla Inc., says he would no longer be the chief executive officer (CEO) of Twitter, as someone else would take over the position in six weeks.
The billionaire, in February 2023, had said he may step aside as CEO of Twitter and hand over the company to someone else by the end of the year.
Musk spoke on his exit from the company in a tweet on Thursday.
The successor’s announcement by the billionaire comes seven months to the end of the year.
Musk said he would act as Twitter’s chief technology officer (CTO) and chairman, when his successor — a female yet to be identified — takes over.
“Excited to announce that I have a new CEO for X/Twitter. She will be starting in six weeks,” Musk tweeted.
“My role will transition to being executive chair and CTO, overseeing product, software and system operations (sysops).”
If all goes well, the new CEO will be the first female to lead the social media giant. Since its creation, Twitter has been led by five men: Jack Dorsey, Evan Williams, Dick Costolo, Parag Agrawal, and Musk.
Last year, the Tesla billionaire said he would resign as Twitter’s CEO when he finds someone “foolish enough to take the job”.
Prior to this, Musk had used a Twitter poll to determine whether or not he should remain as CEO, with a promise to abide by the results.
57.5 percent out of the 17.5 million users who partook in the poll, asked for his exit.
[TheCable]
POLICE in Rivers state Thursday, confirmed the arrest of one John Danjuma for the murder of Boma Amabomu Jumbo, former University of Port Harcourt Teaching Hospital (UPTH) Director of Administration in Rivers state.
Danjuma, said to hail from Nasarawa, in video confession, admitted before the Rivers State Criminal Investigations Department (SCID) how he broke into the home of Bome where he had been dismissed as gateman, took her matchet and butchered her in the early hours of Tuesday.
The suspect had been under detention, facing trial over suspicion of stealing from the victim, including missing $10,000 and had targeted and killed her former boss the day after being granted bail and judgement fixed on his trial two days after.
Danjume narrated, “The truth is about it is that me and she (deceased) have issue in the court and judgement is coming next tomorrow (sic). They are prosecuting me about missing $10,000. And I don’t know about that money. She is dead by now. I took her jewelries after killing her.”
SP Grace Irinke-Koko, Police Public Relations Officer, Rivers Command, said Wednesday night, “Yes the suspect has been arrested and detained in SCID. Meanwhile investigation ongoing”, while also indicating the Command would give details on the matter by Friday.
On insights extracted from the facebook wall of one Dolapo Tella Attoni Wednesday, he had narrated that, “I just left a murder scene at about 11pm for the mortuary.
“Yesterday, an inlaw of mine was murdered by her former security guard who already standing trial in respect of theft of her properties including cash. She was to testify against him in court this morning.
“Soon after he was granted bail by the Rivers state Magistrate Court hearing the case, he began to plot her elimination. So yesterday, he gained access to her resident situate at G.RA by scaling the fence and squeezing through the guest room toilet of the house to strike.
“Armed with a sharp machete, he lunched a suprise attack striking her neck and head severally. Earlier same day, the same suspect killed the lady that recommended him to to her (Boma) for employment as security man.
“Unfortunately for him, he was caught this time around while trying to escape with items stolen from the resident and the blood of the victim all over his body. He is presently held at SCID, PH. Suspect is from Nasarawa State.”
The stake of Ebenezer Onyeagwu in Zenith Bank, where he serves as the Group Managing Director and Chief Executive Officer, has increased to 0.28 per cent.
Onyeagwu’s stake in the commercial bank inched higher from 0.26 per cent after paying N191.80 million to acquire a total of 8 million shares of Zenith Bank.
This was revealed in some corporate documents obtained by Ripples Nigeria on Thursday, dated May 9 and May 10, and filed with the Nigerian Exchange Limited (NGX) on May 11.
He bought the shares between May 4 and May 5, acquiring 3.46 million shares, worth N82.88 million, and 4.53 million shares, valued at N108.92 million, respectively.
Consequently, Onyeagwu’s total shares in Zenith Bank increased to 90.17 million shares, which is worth N2.20 billion as of Wednesday, from 82.17 million shares held as of December 2022.
This also cemented his position as the second largest shareholder in Zenith Bank behind the company’s Chairman, Jim Ovia.
Ovia, as of December 2022, owned 3.54 billion direct shares, worth N86.52 billion as of May 10, and 1.52 billion shares, valued at N37.18 billion.
His acquisition follows that of Tony Elumelu in United Bank for Africa (UBA) and Herbert Wigwe of Access Holdings this week.
Ripples Nigeria previously reported that Elumelu, the Chairman of the firm, acquired 70 million shares through his investment company, HH Capital Limited, at the cost of N560 million.
This increased Elumelu’s controlling stake in UBA to 7.16 per cent from 6.96 per cent reported at the end of December 2022.
Also, Wigwe, the Group Managing Director of Access Holdings, acquired 140,000 shares in the financial institution, worth N1.61 million on May 8, through his investment company, Tengen Holdings (Mauritius) Limited.
The week before, he spent N843.75 million to acquire 75 million shares worth N843.75 million.
[RipplesNigeria]
Nigerian oil production slumped almost 20% in April as Exxon Mobil Corp. workers went on strike, bringing to an end a recent rally.
Output of crude and condensate in Africa’s largest producer declined to below 1.25 million barrels a day last month, according to government data. Nigeria had held daily levels steady at between 1.41 million and 1.55 million barrels since November, after it fell to multi-decade lows in the preceding months with the authorities blaming rampant theft from onshore pipelines.
The main driver of April’s dip was industrial action by Exxon employees that began on April 13 and caused the US major to declare force majeure across its operations. While an end to the walkout was announced two weeks later, the company’s output declined by more than half last month compared with March.
[Bloomberg]
One Owoseni Gabriel, who posed as a woman to evade arrest, was arrested by the operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC.
Gabriel was arrested alongside 32 others for their alleged involvement in computer-related fraud.
They were arrested on May 2, 2023 at the Iyana Ipaja axis of Lagos State, following credible intelligence received by the Commission on the activities of some young boys involved in computer-related fraud.
According to EFCC, during the sting operation, Gabriel, particularly, wore a female dress and a wig to evade arrest.
“The suspects will be charged to court after investigations have been concluded.
“Items recovered from the suspects include a Toyota Camry 2005 model, a Toyota Camry 2009 model, mobile phones and laptop computers,” the commission said.
The Commission also listed the remaining 31 suspects who were arrested alongside Gabriel as: Salaudeen Hammed, Akinsanya Olamilekan, Olamofe Joshua, Akindele Saheed, Damilare Micheal, Patoki Ayomiku, Olakunle Ismail, Babalola Ayomide, Afolabi Olaibola, Abiodun Olayinka, Samuel Ogunyemi, Adebayo Olarewaju, Abdul-Fatai Olawale and Hassan Ayofe.
Others are: Samson Jeremiah, Kolawole Afeez, Owoseni Gabriel, Makinde Oluwasegun, Daniel Seun, Adefolahan Isreal, Olusegun Emmanuel, Olawore Micheal, Hammed Raheem, Micheal Tunde, Francis Chibundu, Jesse Oluwatobiloba, Adenekan Ayotunde, Qudus Adeyi, Sulaimon Oladimeji, Kayode Sunday, Daniel Owosine, and Boluwatife Gbolahan.
Two persons have been confirmed dead after drinking tea prepared with local leaf popularly called, Zakami, at a wedding ceremony, weekend, in Sheka, Kumbotso Local Government Area of Kano State.
The ward head of the area, Usman Musa Zakari, confirmed this to journalists who visited the area yesterday.
This was contrary to unconfirmed reports from the area that put the figure of persons who lost their lives at seven or more.
Zakari gave names of two victims as Mubarak Bala, also known as Diga and Ibrahim Khalil.
According to him, “It is true that the incident happened. It happened when the persons drank a tea prepared with a local leaf called Zakami and a combination of other drugs. Two persons died and eight others were hospitalised.
“Although, there are different versions of the stories being peddled, but I delegated persons who went on a fact-finding and what we gathered was only two persons lost their lives. Someone told me four lost their lives and I asked him to take me to the houses but he later told me that the figure was hearsay.
“There are other eight persons who were hospitalised after drinking from the tea but they have all been discharged and going about with their day-to-day activities.”
Contacted, the spokesperson of Kano State Police Command, SP Abdullahi Haruna, said no formal report was made to the police division of the area but promised to make enquiry and give an update on the incident.
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A magistrate’s court sitting in Ilorin has remanded the Chief Medical Director, CMD, of Ayodele Hospital, Dr. Ayodele Joseph, for allegedly raping a patient, who came for treatment in his hospital at Sawmill area, Ilorin, Kwara State.
Police report during court proceeding, yesterday, revealed that the defendant (Dr. Ayodele), sedated the patient, who is a professional nurse and eventually had sexual intercourse with her without her consent.
According to the report, the nurse went to the hospital for medical treatment when the doctor, who claimed to be having 27 years experience in medical field, took advantage of her under sedation.
Investigation into the matter, however, led to the recovery of the video recording containing sexual action of the defendant on the victim while medical text also confirmed that the said nurse was assaulted and raped.
The government prosecutor, Gbenga Ayeni, informed the court of the gravity of the offence and the motion ex parte attached to the police report seeking the remand of the defendant in Correctional Centre.
Magistrate Jumoke Kamson, who handled the case, granted Ayeni’s prayer for remand while the matter was adjourned to May18.
The federal government, on Tuesday, inaugurated the gold processing plant in Kogi.
Speaking at the event, Olamilekan Adegbite, minister of mines and steel, said the inauguration marks the end of huge capital flights via informal gold trading at the detriment of the economy.
In 2021, the federal government flagged off the construction of the gold processing cluster, located in Mopa, Mopa-Muro LGA of Kogi state.
According to Adegbite, the project was designed based on the cluster concept which has become a global trend in industrial development to promote shared amenities, agglomeration of similar producers, customers; based on geographical proximity or access to complementary expertise to promote efficiency and increase specialisation and production.
He said the plant will create and generate sustainable competitive advantages in key areas of the sector.
“Development of downstream gold mining industries; increasing the level of competitive inputs (such as services, machinery and equipment),” the minister said.
“Also by increasing the level of employment in all business activities related to the gold mining cluster; increasing the rate and exports of value-added products and services and attracting foreign investments, generating new startup companies.
“There would be an increase in trade performance and generation of higher corporate profits as well as improved mineral production output and ease of mining sector regulation and administration. Creation of more jobs through the emergence of service industries because of increased cluster activities.”
PLANT TO FORMALISE ARTISANAL MINING SECTOR
Speaking further, the minister said the gold processing plant in Mopa, for the north-central zone, is one of the cluster projects in the six geopolitical zones to harness over three million artisanal and small-scale miners (ASM) in the country.
He said these landmark projects are to create an enabling environment to support the mining industry through the “formalisation of the ASM sub-sector as a major driver of the key growth parameters to engender the development of the mining sector since over 90 percent of the mining activities in the country could safely be said to be ASM driven”.
“The concept of the gold processing plant was a crafted policy to spur job creation and capacity development of gold mining operators in Kogi and environs, through the economic growth and sustainability plan of the federal government,” Adegbite said.
“This project houses several federal government initiatives geared towards formalising the ASM activities, curbing the exploitation of artisanal and small-scale gold miners as well as development of the capacities of our teaming youths to actively participate in downstream gold value chain.
“The government is creating an ecosystem to minimise the high rate of illegal mining and smuggling, increase government’s revenue from the resource, create jobs, and improve environmental and social stewardship.”
The minister also appreciated Yahaya Bello, governor of Kogi, and his team for making the inauguration a reality.
Adegbite commended international organisations such as the World Bank, United Nations Industrial Development Organisation, United Nations Development Programme, Global Environment Facility; and also acknowledged the support of the government of Canada, Australia, and others in addressing ASM issues in Nigeria.
[TheCable]
WE are strongly opposed to the spending of the $800 million World Bank petrol subsidy removal palliative loan by the outgoing Muhammadu Buhari regime. No credible argument can support the squandering of this gargantuan fund by a regime that has less than three weeks to vacate power.
What we expect President Buhari and his officials to be doing is clearing their desks and making arrangements to vacate their official quarters for the incoming government.
We expect them to concentrate on preparations for the handover and inauguration of the next president and National Assembly. We do not expect them to engage in any major new initiatives, particularly money-guzzling ones.
The rush to engage in large-scale spending smacks of last-minute looting of the public treasury, even if that is not actually the case. The petroleum subsidy issue is an area in which we can confidently mark the Buhari regime a failure, precisely because of the roles the president has played before and during his past eight years in power.
For instance, Buhari and his party, the defunct Congress for Progressive Change, CPC, supported the nationwide protests organised and funded to frustrate the President Goodluck Jonathan regime’s intention to remove the petrol subsidy in January 2012.
They called it a scam, because there was no subsidy. They claimed that the policy was designed to siphon public funds. Jonathan was forced to drop the idea. If the subsidy removal had been implemented then, we would have forgotten all about it by now. Unfortunately, the country has spent over N12 trillion in subsidy payments.
Last year alone, Nigeria paid through the nose in petrol subsidies (which the government calls “under recovery” to the tune of N3.3 trillion.
Also, a sum of N3.6 trillion was set aside for the same project between January and June 2023.
Coming from a government led by a president who has never renounced his claim that subsidies were nonexistent, we find it very brassy and obdurate. The Buhari regime has been forced to postpone the census it had earlier proposed for April 2023. It has also agreed to leave the question of subsidy removal for the next regime to decide. Having done that, it is only sensible and logical to also leave the World Bank loan on subsidy palliatives to the next administration to implement.
We have very little confidence in the regime’s Social Investment Programmes, SIPs, because they do not provide transparent and credible criteria for determining the eligibility of the beneficiaries of government palliatives or cash transfers.
We don’t support the sharing of public cash, as it is prone to corruption.
We believe the $800 million should be spent on matters that will benefit the entire citizenry, not a few people handpicked with nebulous criteria. Buhari’s public fund spending moments are over.
It is strictly transition time.
[Vanguard]
The Chartered Institute of Stockbrokers (CIS) has inducted Mr Temi Popoola, the Chief Executive Officer of Nigerian Exchange Limited (NGX), as a Fellow of the Institute on Monday, 8 May 2023.
Delivering his welcome address at the event, the President and Chairman of Council, CIS, Mr Oluwole Adeosun, FCS, stated that the Fellowship of the Institute was the highest category of membership. “For a member of the Institute to become a Fellow, the individual must, in addition to professional excellence, pass the moral and integrity tests with flying colours. This gentleman has done just that.”
In his acceptance speech, Mr Popoola thanked the Institute’s board of fellows and the full council members for the great honor, and pledged to continue to uphold the institute’s core values. “I am extremely delighted because I am emotionally connected to this market and I am grateful for the support received from CIS since I became the CEO of NGX. At NGX, we strive to always incorporate CIS in our strategy as the Institute ranks high among our critical stakeholders,” he said.
Popoola added that he is looking forward to working with CIS to engage the incoming government to drive policies that will reposition the capital market for growth.
[hallmarknews]