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EFCC Arraigns Lexicon Multiconcept Media CEO for N459m Fraud

Fola Badmus5 months ago5 months ago06 mins

The Economic and Financial Crimes Commission, EFCC has arraigned the Chief Executive Officer, CEO, Lexicon Multiconcept Media Limited, Osabohem Alex Ologbosele, his company and one of his staff, Augustine Osas Iyoha before Justice E. Akpan of the Federal High Court sitting in Abuja. They were arraigned on six- count amended charges bordering on fraud, obtaining under false pretense and money laundering to the tune of N459, 050,000 (Four Hundred and Fifty Nine Million, Fifty Thousand Naira only). Before the charges were read to them, the prosecuting counsel, O.S Ujam, informed the court of her intention to substitute the initial charges filed on March 7, 2025, with the amended charge filed on March 10, 2025. The court granted her request to substitute the charges. Count one of the charge reads: “That you, Osabohien Alex Ologbosele, sometimes in the year 2023 and 2024 in Abuja within the jurisdiction of this Honorable court, directly took possession of the total sum of N340,000 (Three Hundred and Forty Million Naira) paid into your account with account number 202277** domiciled at Kuda Microfinance bank from the account number of Hope Onome Ogholemu with account number 08272*** domicile in Access Bank when you knew or reasonably ought to have known that the said sum formed part of the proceeds of an unlawful act and you thereby committed an offence contrary to Section 18 (2) (d) of the Money Laundering (Prevention and Prohibition) Act 2022 and Punishable under 18 (3) of the same Act. Count two of the charge reads: “That you, Lexicon Multiconcept Media Limited, sometime in the year 2023 and 2024 in Abuja, within the jurisdiction of this Honourable court, directly took possession of the total sum of N16,000,000 (Sixteen Million Naira), paid into your account with account number 63665292**** domiciled in Moniepoint Microfinance Bank, from the account of Osebohien Alex Ologbosele with account number 2022773919 domiciled at Kuda Microfinance bank, when you knew or reasonably ought to have known that the said sum formed part of the proceed of an unlawful act and you thereby committed an offence contrary to Section 18 (2)(d) of the Money Laundering (Prevention and Prohibition) Act 2022, and punishable under Section 18 (4) of the same Act. The defendants pleaded not guilty after the charges were read to them. In view of the not guilty plea, Ujam asked the court for an adjournment to enable the prosecution to open its case and call witnesses. Defence counsel, Samuel Ogala, drew the attention of the court to an application for bail for the first and second defendant which was filed on March 24, 2025 and the second application for the 3rd defendant, dated March 27, 2025, urging the court in the interest of justice to grant bail on liberal terms. However, Ujam told the judge of a 17 paragraph affidavit in response to the counter-affidavit of the defence dated April 2, 2025 and filed same date in opposition to the application for bail, urging the court to denial the application on the ground that the defendants are flight risks, who stopped reporting to the EFCC office for months and may fail to appear for their trial if granted bail. “My lord, the first defendant was arrested in November 2023, and he left in November 2024 and did not report back till February 5, 2025, and I believe that if granted bail, he may not appear for his trial,” she said. Thereafter, Justice Akpan after listening to the arguments of the two counsels on bail application adjourned the matter till May 2, 2025, for ruling for bail and ordered that the defendants be remanded in Kuje prison.

Nigerian Billionaire, Tony Elumelu, Celebrates His Mother At 97

Fola Badmus5 months ago5 months ago21 mins

Nigerian billionaire businessman and Philanthropist Tony Elumelu has taken to social media to celebrate his billionaire mother Chief Mrs. Suzanne Elumelu as she clocks 97-year-old. Elumelu shares a new photo of his biological mother as a way to celebrate her new age on Instagram on Thursday. Chief Mrs. Suzanne Elumelu, a successful businesswoman—a restaurateur and major distributor—who raised her children with a deep sense of discipline, entrepreneurship, and community service. Tony Elumelu often credits his mother for instilling in him the values of hard work, generosity, and integrity. Celebrating his billionaire mother as she clocks 97-year-old today, Tony Elumelu wrote; “Happy 97th Birthday to my dear mother .”

Morocco 2025: Flamingos Set to Grab World Cup Ticket in Blida

Fola Badmus5 months ago5 months ago14 mins

Nigeria’s U17 girls, Flamingos, are firm and ready to pick the ticket for the country’s eighth appearance at the FIFA U17 Women’s World Cup, despite the predictably-cold atmosphere of the Stade Mustapha Tchaker in Blida (outside Algiers), on Friday night. Friday’s encounter against their Algerian counterparts is the final leg of a final qualifying round fixture, with the Flamingos, bronze-medallists from the 2022 finals in India and quarter-finalists from the last edition in the Dominican Republic, holding on to a 4-0 first-leg advantage. The Federation Algerienne de Football (FAF) has scheduled the match to kick off at 8pm, at a time that the winds will begin to blow in stronger from the Mediterranean Sea. However, the Flamingos, who arrived in Algiers in the early hours of Wednesday aboard a Turkish Airline flight from Istanbul, are highly inspired by the imminence of another FIFA World Cup ticket as well as further financial windfall from the Nigeria Football Federation and billionaire business mogul Kunle Soname. Soname gifted the young players and their officials the sum of N4million (one million naira for every goal) following their commanding win over the North Africans at the Remo Stars Stadium on Saturday, while the NFF gave out the sum of N2million (five hundred thousand naira for every goal). President of NFF, Alhaji Ibrahim Musa Gusau and Hon. Soname have both confirmed that the same financial incentives are in place for the second leg in Blida on Friday. “Our objective is clear – to win the FIFA World Cup ticket. That is the big motivation. Yet, we have been further incentivized by the monetary rewards. My girls will go all out on Friday night,” Head Coach Bankole Olowookere said. Olowookere, who led the Flamingos to their last two World Cup ventures, will most likely rely on first-leg two-goal heroine Queen Joseph, lone-goal scorer Zainab Raji and Kaosarat Olanrewaju to start at the fore, with Shakirat Moshood, Muinat Rotimi and Philomena Isaiah supplying the passes from the midfield. Goalkeeper and captain Christiana Uzoma and defenders Azeezat Oduntan, Hannah Ibrahim, Christiana Sunday and Jumai Adebayo are also likely to start. The Confederation of African Football has selected Cameroonian official Marie Noelle Etong to be the referee, with her compatriots Marcelle Teikeu and Innocentia Ntangti as assistant referee 1 and fourth official respectively, while Chadian Ngarassoum Victorine will be assistant referee 2. Oumou Souleymane Kane from Mauritania will be commissioner and Sabelo Maphosa-Sibindi from Zimbabwe will be in the role of referee assessor.

Lagos Pushes for Rent Reduction Declares Caution and Inspection Fees Illegal

Fola Badmus5 months ago5 months ago16 mins

The Lagos State government has charged the leadership of the Nigerian Institution of Estate Surveyors and Valuers, Real Estate Developers Association of Nigeria, and Association of Estate Agents in Nigeria to support the drive to reduce the rent burden on Lagosians and shun the prevalent illegal fees in the real estate business. In a statement by the deputy director, Public Affairs, Ganiu Lawal, the professional bodies were also urged to stem the rate at which agents across the real estate value chain engaged in competition of fees in real estate transactions. It stated that, “the introduction of illegal fees such as caution fee, inspection fee, finder’s fee, and others represents a professionally harmful practice which affects tenants and puts the integrity of the practitioners and property owners at stake. “The Nigerian Institution of Estate Surveyors and Valuers, Real Estate Developers Association of Nigeria, and Association of Estate Agents in Nigeria, were invited to a stakeholders meeting jointly chaired by the Commissioner for Housing, Moruf Akinderu-Fatai, and the Special Adviser to the Governor of Lagos State on Housing, Barakat Odunuga-Bakare. “The session is a continuation of the strategic engagement to curb arbitrary rent charges, demand for high agent fees, and promotion of sanity in the real estate business in Lagos state. The meeting was held at the Conference Room of the Ministry of Housing, Alausa – Ikeja.” The state government, through the commissioner and the special adviser, challenged the association to protect the integrity of the real estate business with support for a joint effort of all stakeholders for full enforcement and compliance with the real estate transaction laws of Lagos State. Akinderu-Fatai said, “the aim of engaging all stakeholders is to strengthen the working relationship between the State Government and the professional bodies for the benefit of Lagosians. “Lagos State Government is concerned about the challenges faced by families in securing and retaining rental accommodation in the state, with unpleasant rent increments and illegal estate transaction charges.” The commissioner reiterated the plan of the Lagos State government to encourage and promote monthly and quarterly rent payments in the state in line with the tenancy law. He said, “the state government is aware of the increase in demand as greater than supply, but the government would no longer tolerate and allow the extortion of accommodation seekers with unwholesome practices. “I want to assure you that the state government under the leadership of Mr Babajide Sanwo-Olu is compassionate and will leave no stone unturned to ensure sanity in the real estate business in the state.” The special adviser to the Governor on Housing, Barakat Odunuga-Bakare, stated that there “were existing state laws, such as the 2015 Tenancy Law and the Lagos State Real Estate Regulatory Authority Law, which specify a percentage of chargeable fees of not more than 10 per cent on real estate transactions.’’ Odunuga-Bakare also urged the stakeholders to cooperate with the state government to ease the conditions under which Lagosians secure accommodation. Speaking at the meeting, the representative of the Nigerian Institution of Estate Surveyors and Valuers, Lagos Branch, Gbenga Ismail; a member of the Real Estate Developers Association of Nigeria, Dr. Kolawole Tony; and a member of the Association of Estate Agent in Nigeria, Dr. Adeniyi Tinubu, jointly expressed their readiness to forge a workable alliance with the state government to solve high rent cost and excessive charges. They added that , “the professional bodies will also join the state government in promoting advocacy, public enlightenment as well as sensitisation programmes on the best practices in real estate transactions.” The meeting further resolved to convene another stakeholders’ forum to be attended by representatives of all practitioners in the real estate business, including the Nigerian Bar Association, for a holistic buy-in of every sector for the benefit of Lagosian.

PDP Governors No Longer Backing Atiku – APC Chieftain Akindele Mocks El-Rufai

Fola Badmus5 months ago5 months ago02 mins

A chieftain of the All Progressives Congress (APC), Ayekooto Akindele, has claimed that no Nigerian governor, including Osun State Governor Ademola Adeleke, will support former Vice President Atiku Abubakar’s presidential bid in 2027. Akindele mocked Atiku, alleging that Adeleke no longer answers his calls during the day. Posting on X (formerly Twitter), Akindele dismissed Atiku and former Kaduna State governor Nasir El-Rufai’s chances of challenging President Bola Tinubu’s reelection, declaring that they cannot prevent Tinubu from completing a second term in office. His remarks come amid reports of a growing rift within the Peoples Democratic Party (PDP). According to those reports, a secret deal between some PDP governors and President Tinubu is said to be fueling internal unrest in the opposition party. The alliance is believed to be weakening Atiku’s influence and undermining his political base ahead of the 2027 general election. Recently, Akwa Ibom State Governor, Umo Eno, publicly declared his support for Tinubu, stating the president enjoys broad national backing and will remain in power until 2031. His comment came shortly after the PDP Governors’ Forum reportedly distanced itself from Atiku’s proposed coalition. Akindele doubled down on his criticism, writing: “There’s no Nigerian governor who has declared support for Atiku in 2027. Even Adeleke no dey pick Atiku’s calls at daytime again. One million Atikus and El-Rufais cannot stop the South and Tinubu from spending eight years in power. When it comes to politics, don’t drag anything with the JAGABAN

Over 70% of Nigerian Shipments to U.S. Rejected or Delayed Amid New Tariff Policy

Fola Badmus5 months ago5 months ago02 mins

Since the enforcement of former U.S. President Donald Trump’s new tariff policy—particularly targeting imports from Africa—over 70% of shipments sent from Nigeria to the United States via air cargo have been either refused entry or placed on indefinite hold. Ini Daniel, Chief Commercial Officer at AAJ Express Logistics Limited, disclosed this on Tuesday, highlighting the severe disruption the policy has caused. He noted that the delays have created major setbacks for Nigerian exporters and importers operating in the U.S. market. “Nigerian exporters are facing unprecedented challenges following the full implementation of Trump’s tariff regulations on April 2, 2025,” Daniel said. “Cargo and courier companies are struggling with clearance, creating a crisis for exporters trying to meet demands in the U.S.” The aviation sector has also been hit hard, with airlines reportedly offering steep discounts or even free returns due to the growing backlog of undelivered goods. Exporters, meanwhile, remain in the dark as U.S. customs officials have yet to provide clear reasons for the shipment rejections. Daniel emphasized that Nigeria is not alone in this dilemma—exporters from China, Europe, and other African nations are also being impacted. In light of the uncertainty, he advised Nigerian exporters to temporarily halt shipments to the U.S. until customs authorities issue clearer guidelines. Exporters now anxiously await clarification and a resolution that could restore smooth trade with the U.S. market.

NLC Slams Power Minister Over Electricity Claims Decries Privatization Failures

Fola Badmus5 months ago5 months ago04 mins

The Nigeria Labour Congress (NLC) has strongly criticized Minister of Power Adebayo Adelabu over his claim that 150 million Nigerians now enjoy adequate electricity with just 5,500 megawatts. In a statement released on April 23, 2025, the union described the remark as a blatant insult to the intelligence of Nigerians and a deceptive narrative aimed at masking the true state of the power sector. The NLC emphasized that international standards recommend at least 1,000 megawatts per one million people, which means Nigeria should be generating no less than 150,000 megawatts to meet the needs of its population. The union questioned the minister’s claims, asking where the supporting power plants and transmission infrastructure are, if such a level of coverage truly exists. It cited widespread blackouts, idle factories, and ongoing outages as clear evidence that the government’s narrative doesn’t match the daily experiences of Nigerians. The NLC traced the roots of the crisis to the 2013 privatization of the power sector, which handed over critical infrastructure to private interests for just N400 billion — a move the union believes sparked more problems than it solved. More than ten years later, the NLC noted, there has been little to no improvement in electricity supply or infrastructure, despite the billions of naira in public subsidies given to power companies. The union also condemned ongoing efforts to privatize the Transmission Company of Nigeria (TCN), warning that such a move would only worsen the sector’s challenges. It criticized the recent hike in electricity tariffs under the Band A, B, and C system, calling it a veiled exploitation strategy that has forced many Nigerians to choose between food and electricity bills. In its final message, the NLC accused government officials and private profiteers of enriching themselves while leaving workers underpaid and the public underserved. The union vowed to resist what it called a grand deception, promising to continue pushing for a power sector that genuinely serves the Nigerian people. “If you generate, transmit and distribute more power, we will see it in our homes and factories, not on television and in newspapers,” the NLC stated. President Joe Ajaero concluded: “Let there be light, not lies

Oborevwori Condemned APC for Bringing Poverty to Nigeria

Fola Badmus5 months ago5 months ago04 mins

While he was campaigning for the Delta State governorship election in 2022 under the Peoples Democratic Party (PDP), Governor Sheriff Oborevwori condemned the poor policies of the ruling All Progressives Congress (APC). Oborevwori went as far as saying the ruling party must go. However, on Wednesday, rumours and previous denials of defection gave way to a confirmation that the governor has joined the same party he criticised less than three years ago. In October 2022, Oborevwori said the APC had nothing to campaign with in Delta because the ruling party had brought poverty to the country. The Independent newspaper quoted Oborevwori’s words: “What they have succeeded in doing is bringing poverty. The economy is dead. Insecurity in Nigeria is something you can’t talk about. Yet somebody said he wants to come and contest under that party in Delta State. We are waiting for APC in the state.” Similarly, in November 2022, Oborevwori condemned the APC-led government for failing to curb insecurity in Nigeria. He said that only the PDP could solve all the problems affecting the country. Reports such as this and this quoted him thus: “The only party that has the solution to the problems currently bedeviling the country is the PDP. PDP is the only party that can reset and rebuild this nation is the PDP. So APC must go.” When it was reported in January that the governor might dump the PDP for the APC, Oborevwori dismissed it as a rumour. These were the words of his chief press secretary then: “The Governor had no reason to defect to any other party, given his wide acceptance in the PDP and followership by well-meaning Deltans and residents.” The story changed on Wednesday when it was announced that the governor had officially defected to the APC. Oborevwori was not the only one who defected in Delta. Ifeanyi Okowa, the immediate former governor of the state, as well as the Speaker, the state party chairman and all local government chairmen also defected to the ruling party. According to reports, the decision was made to “advance security and the welfare of the people and ensure that development in Delta is not truncated