There are currently 28,420 centi-millionaires in the world, more than double the number 20 years ago, and an increase of 12% compared to this time last year, according to the 2023 Centi-Millionaire Report released today by wealth and investment migration advisors Henley & Partners and featuring exclusive data from global wealth intelligence firm New World Wealth. This fast-growing global elite of highly influential super-wealthy movers and shakers boasts investable assets of USD 100 million or more. As outlined in the inaugural report last year, at a country level, most centi-millionaires (or ‘centis’) are concentrated in the USA (38%), followed by…
Author: Adewale A.
The cacophony of discordant voices on Bola Tinubu / Abubakar Atiku over the certificate matter is completely out of hand. This utter nonsense from armchair lawyers is heating up Nigeria dangerously. Please can we keep our opinions and views to ourselves awaiting a decision of the Supreme Court. Am so ashamed to see Lawyers on Television arguing one way or the other on the merits or demerits of the Chicago State University (CSU) matter. This is most unhelpful! I call out all media that tolerate this nonsense of adjudicating the CSU matter on TV and Newspapers. I urge the President…
In a momentous gathering at the Yewa Frontier Hotel in Ilaro-Yewa, Ogun State, the Inspector-General of Police, Ag. IGP Kayode Adeolu Egbetokun PhD, NPM, was honoured with the prestigious Yewa Special Award for his outstanding contributions. The event, held on Saturday, 7th October 2023, brought together esteemed Yewa indigenes, royal dignitaries, and distinguished guests to celebrate the remarkable achievements of IGP Egbetokun. The Yewa Special Awards and Reception served as a platform to recognize individuals who have made significant impacts on the Yewa community and beyond. IGP Egbetokun, with his remarkable career and dedication to public service, was a natural…
The Assistant Commander of the Economic and Financial Crimes Commission (EFCC), Ahmed. M. Ghali, serving as the Zonal Commander in Port Harcourt, has delivered a stern caution to students of the Federal Government College in Obi/Akpor Local Government Area of Rivers State. Ghali emphasized the severe and far-reaching consequences of engaging in internet fraud and urged students to steer clear of such criminal activities. This warning was issued during a One-Day Sensitization Lecture held in Port Harcourt on Friday, September 29, 2023. The lecture was organized by Cot Cyber Consults, representing the international health insurance firm AXA. Addressing the students…
In a significant legal development, Justice O.O. Abike-Fadipe of the Special Offences Court in Ikeja, Lagos, has ruled that businesswoman Portia Emilia and her company, Savanah Crest Investment Limited, must enter their defences in an alleged N110 million fraud case brought against them by the Economic and Financial Crimes Commission (EFCC). The defendants were re-arraigned on March 16, 2023, facing amended five-count charges that include conspiracy to steal, obtaining money and property by false pretences, stealing, and retaining stolen property. One of the counts specifically alleges that Portia Anthony Emilia and Savanah Crest Investment Limited, “sometime in 2018 in Lagos,…
In a significant operation aimed at curbing cybercrime, the Enugu Zonal Command of the Economic and Financial Crimes Commission (EFCC) has apprehended 32 individuals suspected of engaging in internet fraud. The arrests were made simultaneously during sting operations conducted in Awka, Anambra State, and Enugu township, Enugu State. The suspects, whose identities have been revealed, include Stanley Okechukwu, Chukwudi Michael, Nnaife Onyedika, Nnamdi Christian, Pascal Akachukwu, Ekeme Christian Luke, Denis Chidozie, and Ebuka Mmaduka. The list continues with Ekene Excellent, Emmanuel Okochi Osita, Akunne Prince Ikenna, Igwe Nnaemeka Shedrack, Nonso Henry Ozo Ekwe, Ebuka Obike Boniface, Goodluck Ameachi Ifeanyi, Hillary…
In a unified effort to bolster the fight against corruption and financial impropriety in Nigeria, the Economic and Financial Crimes Commission (EFCC), the National Judicial Institute (NJI), and key stakeholders have issued a resounding call for comprehensive legislation to address the issue of unexplained wealth within the country. This imperative plea emerged from a Communique jointly issued on Thursday, October 5, 2023, at the conclusion of the 5th EFCC-NJI Capacity Building Workshop for Justices and Judges, held at the NJI headquarters in Jabi, Abuja. The Communique underscores the urgent need for the enactment of legislation to combat the possession of…
In a significant legal development, businessman Kolawole Erinle has been sentenced to a substantial twelve-year prison term for his involvement in a $1.4 million fraud. The verdict was delivered by Justice R. A. Osodi of the Special Offences Court in Ikeja, Lagos. Erinle, along with his company, Rinde-Remdex Nigeria Limited, initially faced charges before Justice Oluwatoyin Taiwo of the Special Offences Court in Ikeja on March 11, 2022. Although he initially pleaded “not guilty,” the trial was inconclusive due to Justice Taiwo’s retirement, necessitating the reassignment of the case to Justice Osodi. On October 28, 2022, Erinle was re-arraigned before…
In a significant legal development, Ahmad Abubakar Ahmad has been sentenced to a staggering 87 years in prison for his involvement in criminal activities amounting to N325,800,000 (Three Hundred and Twenty-Five Million, Eight Hundred Thousand Naira). This verdict was handed down by Justice Malami Dogondaji of the Sokoto State High Court on Thursday, October 5, 2023, following Ahmad’s admission of guilt to 12 counts of charges related to criminal breach of trust and obtaining money by false pretence. One of the charges reads: “That you Abubakar Ahmad Abubakar sometime in October 2022 in Sokoto within the Judicial Division of the…
In a surprising turn of events in the ongoing legal battle involving Nigerian artist Azeez Fashola, popularly known as Naira Marley, the Federal High Court in Ikoyi, Lagos, has issued a production warrant. This dramatic development occurred during the court proceedings on Friday, October 5, 2023. Naira Marley is currently facing a slew of charges, numbering 11 in total, brought against him by the Economic and Financial Crimes Commission (EFCC). These charges primarily revolve around conspiracy and credit card fraud. During the recent court session, the defendant’s counsel, Olalekan Ojo, Senior Advocate of Nigeria (SAN), informed the court that Naira…
FXC Intelligence releases an in-depth report analysing trends in cross-border payment startups, with emphasis on companies launched since the beginning of 2022. Geographically, there was a stronger presence of payment startups in emerging markets than among lists of larger, more established cross-border payments companies. Lagos, Nigeria, came in joint second with New York in terms of cities with the most cross-border payment startups founded since the start of 2022. 7% of startups were founded there, underpinning its growing importance as a payments hub. While the traditional dominance of the US and Western Europe remained, there was a stronger presence of…
BudgIT has released its second-quarter evaluation report of the States Fiscal Transparency League (SFTL) for the second quarter of 2023. The States Fiscal Transparency League aims to sustain the progress achieved through the World Bank’s States Fiscal Transparency, Accountability, and Sustainability (SFTAS) program by monitoring how effectively states uphold fiscal transparency, accountability, accessibility, and proficient management of public finances. For 2023’s second quarter, an evaluation of all 36 Nigerian states revealed that nine states made significant progress by adhering to the STFAS guidelines, 23 states exhibited moderate performance, and four states performed poorly. Compared to Q1 2023, Jigawa State secured…
Marking this year’s International Day of Peace 2023, the Rotary Club of Port Harcourt Eco, last week in Port Harcourt the Rivers state capital collaborated with the Centre for Gender, Conflict and Gender Studies at the University of Port Harcourt, HYPREP, COFEM & KABETCACHE to host Learning Circle. This was contained in a press statement issued and personally signed by the president of Port Harcourt Eco, Rtn. Dr Anthony Ikpor. At the event, our correspondent reports explored and discussed evident strategies and actions that can contribute to achieving the United Nations Sustainable Development Goals, which focused on promoting peace, a…
This is an open letter to Governor Dapo Abiodun of Ogun State over the concerns on the arrest and subsequent release of Mr Wale Adedayo, immediate former chairman of the Ijebu-East Local Government area of the state. His Excellency, Governor Dapo Abiodun, We trust this message finds you well. Open Alliance, a coalition of civil society organizations working to improve openness and accountability in government, is writing to convey our concerns regarding the arrest and recent removal of Mr Wale Adedayo, the former Chairman of Ijebu-East Local Government Area, Ogun State, from office. He was arrested on Monday, 25 September 2023, based…
The Nigerian authorities are leading the charge in the control and regulation of flaring gas, looking towards eliminating the need for routine flaring over the next few years. A key component in that challenge is accurate measurement. Fluenta, the global leader in ultrasonic sensing technology for the measurement of flare gas, has completed work on the Dangote Refinery in Nigeria – Africa’s biggest oil refinery – to install 18 ultrasonic flare gas meters on large pipelines around the plant. The Dangote Refinery stands at the vanguard of Africa’s and Nigeria’s moves towards energy self-sufficiency. The West African nation currently imports…
We stumbled upon this piece “Ogun Governorship Tribunal Judgement: Ori Yeeye ni’mogun T’ai Se Lo Po” written by S.F. Lubega and we thought of sharing it with you for your opinions. Often when a murderer or dangerous criminal is set free, he or she celebrates to high heavens. The reason is that the criminal or guilty feels he has cunningly beaten the law and the legal system. But an innocent person will be remorseful, and most times ask the question “Why me?”, “why did I have to go through these tribulations?”, “Who did I offend?” etc. I have followed the…
The power players and top-notch speaker list, including several government ministers, exemplify the importance of tech to drive Africa’s needed economic big boom. Africa has abundant economic potential and the enormous uptake of digital technology socially and in the business sector, has positioned the continent for explosive growth, but there are challenges that lie in wait. Many of these will be spotlighted at the 2023 Africa Tech Festival in Cape Town on 13-16 November, along with innovative solutions all led by a line-up of headline speakers including several African government ministers. “Businesses across Africa have benefitted enormously from leap-frogging traditional…
A must for all budding tech billionaires – a dynamic discussion by three experts at the coal face of growing successful technology-led businesses who will share their insights, route to market and tips on how to grow a sustainable operation that is also contributing to the continent’s long-term prosperity. Episode 4 of the Africa Scotland Business Network’s (ASBN) Talking UP Africa, an online business insights series, will take place on 5 October 2023. Central to the conversation is how Africa’s technology landscape is undergoing a transformative boom, and what opportunities and possibilities this offers for established and up-and-coming businesses. Talking…
The Ogun State Governorship Tribunal has set Saturday, September 30, 2023, as the day when the judgement will be delivered in the case of Ladi Adebutu vs. Independent National Electoral Commission (INEC), Dapo Abiodun, and the APC. The Ogun State Election Petitions Tribunal has earmarked Saturday, September 30, 2023, as the date for delivering its judgement in the petition lodged by the Peoples Democratic Party (PDP) and its gubernatorial candidate, Ladi Adebutu. This petition challenges the outcome of the March 18 governorship election, which saw Abiodun emerge victorious. Reliable sources have confirmed that the tribunal officially communicated this date to…
It has become necessary for us to call the attention of the general public to the Dapo Abiodun-led government’s nefarious resolve to continue to oppress and witch-hunt members of the opposition with the use of the Department of State Services (DSS) and other security agencies. It has come to the notice of the Peoples Democratic Party (PDP), Ogun State Chapter that Mr. Dapo Abiodun, a supposed Commissioner of Officiate of Ogun State, has successfully embedded mounting enormous pressure on the officials of the DSS, Ogun State Command to release the SAGAMU Local Government Chairman, Hon. Afolabi Odulate, who was invited…