Details As President Macron inaugurates France-Nigeria Business Council

 

France President Emmanuel Macron has inaugurated the France-Nigeria Business Council – a private sector initiative to enhance business relations between the two countries with Abdul Samad Rabiu, Founder/ Chairman of Nigeria’s BUA Group as its inaugural President. The newly inaugurated council also has Gilbert Chagoury of Chagoury Group, Mike Adenuga of Globacom and Conoil, Aliko Dangote of Dangote Industries, Tony Elumelu, Chairman UBA & Heirs Holdings, and Herbert Wigwe, CEO, Access Bank as the Nigerian members of the council.

Reps probe Citibank over alleged N30 billion leakages in foreign exchange revenue

House of Representatives committee on finance, James Faleke-led members of the committee quizzed officials of Citibank Plc over the alleged infraction, which bothers on non-remittance of collections from Value Added Tax (VAT) and withholding tax.

Among alleged infractions leveled against Citibank by the committee were outstanding VAT collectibles on known Form A bank transfers by customers ($463, 778, 150), foreign exchange leakage infractions on form A transactions filed with CBN as taxation services but not traced to the Federal Inland Revenue Service collection platforms ($171, 256, 297).

Faleke said the committee also discovered that Citibank had Form A transfer by customers through their bank accounts that were not filed with the CBN and committee, with no evidence of withholding tax amounting to $3, 107, 398, 073.

How $300 million NNPC fund was secretly lodged in Polaris Bank for years

The House of Representatives Ad hoc Committee on Recovered Loots and Assets of Government, yesterday, heard of how $300 million belonging to the Nigerian National Petroleum Corporation (NNPC) was “hidden in a Polaris Bank account and remained unattended to for years.”⁣

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At the public hearing of the panel in Abuja yesterday, lawmakers sought to know from the financial institution the interest that accrued to the money from 2012 till date.⁣
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But the bank’s Acting Managing Director (MD), Innocent Ike, insisted that the fund was not hidden, but deposited appropriately by the national oil firm the Nigerian National Petroleum Corporation (NNPC).⁣

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He informed the lawmakers that the fund was deposited in tranches in the defunct Skye Bank before the Treasury Single Account (TSA) came into effect.

Mr. Ike explained that the bank was unable to refund the money when CBN gave the directive to that effect, due to liquidity constraint.

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But the complainant and former public prosecutor with the defunct Special Presidential Investigative Panel (SPIP) on government assets and loots recovery, Tosin Ojaomo, disagreed.⁣
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Maintaining that the transaction was shrouded in secrecy, the ex-prosecutor stated: “The bank did not disclose anything, it secretly kept the money. It was when the presidential panel got wind of the hidden money, arrested the bank managers, interrogated and started prosecuting them that they admitted that the money was with them.”⁣
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“Upon discovery, the NNPC petitioned the House in its quest to recover the money having failed to cause the bank to release it on the corporation’s request,” he added.⁣

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Bitcoins heist: South African Brothers vanish with $3.6Bn in Bitcoins

Two brothers named Ameer Cajee who acted as the Chief Operating Officer (COO) and Raees Cajee who acted as the Chief Executive Officer (CEO) started a cryptocurrency company called “Africrypt” in Johannesburg, a supposed currency exchange service.

Africrypt provided all-around solutions, including investment opportunities on cryptocurrency and blockchain technology; brokerage services proffering an electronic, off-exchange digital liquidity solution; payment services providing secured digital payments across the domestic, offshore and international market; and full-suite consulting and advisory services for merchant banks and services for the digital world

Why Sterling Bank M.D Abubakar Suleiman Is Under Pressure

There are strong indications that the Chief Executive Officer of Sterling Bank, Abubakar Suleiman may take another job – after just three years in charge.

The Bank boss more popularly known as

Ronaldo removes coca-cola bottles at news conference

Portuguese soccer superstar Cristiano Ronaldo removed two bottles of tournament sponsors Coca-Cola away from him as he entered a news conference on Monday (June 14) before holding up a bottle of water to the media, dismissing the famous sugary drink.

Ronaldo has built a reputation as one of the hardest workers in the game, taking his fitness obsessions to another level in order to push his top playing days well into his 30s.

In a move likely to anger the sponsor, the Juventus and Portugal forward glanced to the side before moving two glass bottles away from his position and saying "drink water" to the media while his microphone was still turned off before disapprovingly saying: "Coca-Cola!".

T.B Joshua to be buried at the Synagogue Church Of All Nations In Lagos On July 11

Popular but controversial Nigerian evangelical preacher Temitope Balogun Joshua died from an undisclosed cause, his church said on Facebook.  

The preacher, popularly known as TB Joshua, founded The Synagogue Church of All Nations, a Christian megachurch in Lagos.

A family source has how ever announced the burial arrangement of the popular prophet.

Good Morning and Win Today! Dear SCOAN and Emmanuel TV family all over the world, we appreciate your continued prayers, love and support.

Nigeria's Twitter ban leaves some businesses in the lurch

 Lagos-based entrepreneur Ogechi Egemonu was selling more than 500,000 naira ($1,219) worth of watches, shoes and handbags on Twitter per week.

Now, with the site suspended by the Nigerian government, Egemonu does not know how she will cope.

"I feel very very distraught, I feel really really disorganized. I don't know how to put myself back together because I have been trying to build this platform. I have been trying to put my best. Be consistent they said, do this, post more. Talk to more people. I have done everything I needed to do but then I was able to do that because I had a platform but right now, I don't have that platform anymore." she told Reuters.

Scores of small and medium sized businesses across Africa's most populous nation - and largest economy - are reeling from the indefinite suspension of the social media site.

FULL TEXT: Buhari’s Democracy Day message to the nation

Fellow Nigerians, I join you all today to commemorate and celebrate our Democracy Day. It is a celebration of freedom and a victory for one people, one country and one Nigeria.
2. As with all democracies we will always be going through improvement processes in our desire to reach the goal of a mature democracy, a strong, evolved and integrated nation state to be reckoned with globally.

3. In the last two years we have witnessed and overcome a good number of testy challenges that would have destroyed other nations especially relating to our collective security.

4. The indefatigable CAN DO Spirit of the Nigerian has sustained us and would keep pushing us to put these challenges behind us.
5. Unfortunately some of these challenges came in the shape of violent outrages leading to the loss of lives of many of our dear compatriots and the destruction of some of our infrastructure, including those devoted to improving our democratic processes.

TB Joshua is dead

 

TB Joshua, the founder of the Synagogue Church of All Nations (SCOAN), is dead.

The report says he had a stroke two months ago and was flown by air ambulance to Turkey for treatment, TheCable understands.

The church management confirmed his death in a statement issued on Sunday.

FG Suspends Twitter's Operations in Nigeria

The Federal Government has suspended, indefinitely, the operations of the microblogging and social networking service, Twitter, in Nigeria.

The Minister of Information and Culture, Alhaji Lai Mohammed, announced the suspension in a statement issued in Abuja on Friday,

citing the persistent use of the platform for activities that are capable of undermining Nigeria's corporate existence.

The Minister said the Federal Government has also directed the National Broadcasting Commission (NBC) to immediately commence the process of licensing all OTT and social media operations in Nigeria.

Gtbank MD Designate, Miriam Olusanya In Divorce Mess

Miriam Olusanya an Executive Director of Guaranty Trust Bank (GTBank) who is widely speculated to pick the mantle of leadership in the bank is currently in the middle of a messy divorce imbroglio.

Born Miriam Chidiebele Olusanya , the vivacious lady with a rich educational and work background was issued divorce papers by her husband after years of separation from her husband who is now based in the United States America.

According to the Divorce Paper perused by us and attached to this post entitled, “PETITION FOR DISSOLUTION OF MARRIAGE” it has Olusanya Abiodun as the plaintiff (husband) and Miriam (wife) as the defendant. The divorce was filed in Lincolnwood, Illinois, United States.

Interestingly, we gathered from inside sources that Miriam Chidiebere Olusanya is in charge of the Wholesale Banking Division of GTBank, which comprises the Asset and Liability Management, Trading and Sales as well as the Corporate Finance Groups.

Moving on, Miriam Olusanya joined Guaranty Trust Bank in 1998, after 2 years at SmithKline Beecham Nigeria (now GlaxoSmithKline – GSK).

Why Announcement 0f Miriam Olusanya As GTBank’s First Female CEO Is On Hold

Details available to societynow.ng revealed that Miriam Chidiebele Olusanya should have been announced as the Managing Director and Chief Executive Officer of Guaranty Trust Bank (GTBank) last week.

Information available revealed that the process was put on hold due to an unforeseen occurrence.

Societynow.ng learned a development that would have taken some of the shine off the big day was thrown up by “certain persons.”