Category: Business

‘How Govt, Businesses, Nigerians Can Create Wealth, Avoid Financial Crises’

ADEOLA YUSUF

  Dr. Olumide Emmanuel, a globally recognised Wealth creation coach, is the Chief Executive Officer of Common Sense Group. He speaks extensively on Nigeria’s foreign exchange, fuel subsidy removal and other key financial policies in this no holds barred interview with Platforms Africa’s Adeola Yusuf where he gave practical life-changing suggestions to government, business owners, and individuals on how to survive, create multiply and sustain wealth at a time like this. Excerpts;   Sir, the new administration has enacted some policies such as the floating of the foreign exchange as…

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I’d Have Committed Suicide – Femi Otedola

ADEOLA YUSUF

WORD-FOR-WORD: Why I once thought of ending it all, Nigerian Billionaire opens up     Nigerian billionaire, Femi Otedola, has revealed that he almost committed suicide after losing $480 million in the diesel market in 2008. He spoke about his depressive episode during his business partner Akin Akinfemiwa’s 50th birthday celebration in London. “In 2005, I had a friend that worked in Oando, and she did mention to me that she had a colleague. READ ALSO: Nollywood Mourns Again As Actress, Cynthia Okereke, Dies First Bank: SEC Investigates Otudeko’s FBN…

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Why Tinubu Should Reconsider 7.5% VAT on Diesel – MOMAN

ADEOLA YUSUF

Oil marketers confirm ability to import petrol into Nigeria   The Chairman of the Major Oil Marketers Association of Nigeria (MOMAN), Mr Olumide Adeosun, has applauded the inauguration of a committee on fiscal policy and tax reforms ny President Bola Tinubu, appealing to th the government to reconsider the 7.5% VAT on diesel. Saying that the VAT would further burden Nigerians, Adeosun suggested its suspension on diesel until the impact of the petrol price increase is ochallenges. READ ALSO: Aboru Aboye Purely Yoruba Language, Not For Ifa Priests – Tope…

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Reject Otudeko’s Share Acquisition, Ecobank Tells First Bank

ADEOLA YUSUF

Ecobank has urged First Bank Holdings to reject the acquisition of 4.7 billion shares by a former Chairman of the bank, Dr Oba Otudeko. The bank raised the alarm in a letter written by its Legal Counsel, Kunle Ogunba & Associates, in which it stated that the business magnate, through his affiliated entities, owed the bank N13.5bn. The letter, dated July 7 and signed by the Principal Partner of the law firm, Oludare Amusan, said the bank had instituted several lawsuits against Honey Group Limited, Siloam Global Services Limited, Anchorage…

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Buhari Under Probe, Senate Investigates Ex-President’s Airport Deals

ADEOLA YUSUF

The Senate on Thursday moved against the concessioning of all airports in the country by former President Muhammadu Buhari for “peanut” as the angry lawmakers resolved to launch investigation into the process. Platforms Africa reports that the decision of the Senate was sequel to the motion sponsored by Senator Suleiman Kawu, who noted that the concessioning occurred less than six days to the expiration of Buhari’s administration. Kawu informed the lawmakers that the Federal Ministry of Aviation lacks the power to concession the airport. READ ALSO Wife He Sent Abroad,…

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How Fraudsters Hacked 1000 UBA, Other Banks Accounts Using BVN

ADEOLA YUSUF

Nigerian Police unearthed dirty details of syndicates stealing and mopping millions from many       The Zone 2 Police Command in Lagos State has confirmed the arrest of two members of a syndicate linked to the hacking of no fewer than 1000 bank accounts in Nigeria. The spokesperson for the command, SP Hauwa Idris-Adamu, in a statement on Tuesday, said the suspects, who specialised in hacking local banks, were nabbed at their hideout in Ijebu Ode, Ogun State, following a petition by the United Bank for Africa. Idris-Adamu identified…

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DisCos Raked In N247.3 Bn from Customers in 3 Months

ADEOLA YUSUF

STATISTICS: NBS gives details of what Nigerians paid to 11 distribution companies between January and Match, 2023   The Electricity Distribution Companies (DisCos) collected revenue of N247.33 billion from consumers in the first quarter (Q1) of 2023, according to the National Bureau of Statistics (NBS). The DisCOs collected N232.32 billion in the preceding Q4 2022. The NBS Nigeria Electricity Report for Q1 2023 released in Abuja on Wednesday showed that on a year-on-year basis, revenue generated rose by 20.81 per cent from N204.74 billion recorded in Q1 2022. READ ALSO:…

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Nigerians To Pay More For Electricity As ‘50% Tariff Hike’ Begins July 1

ADEOLA YUSUF

Nigerians are to pay more for electricity as implementation of a minor review of the Multi-Year Tarriff Order (MYTO) begins on July 1. Platforms Africa reports that the review, a statutory responsibility of the Nigeria Electricity Regulatory Commission (NERC), has been completed, and its implementation scheduled to begin baring any unforseen circumstances. Electricity consumer group, Nigeria Consumer Protection Network, which confirmed this, said it envisaged a 50 per cent increment. READ ALSO: Nigeria President Buhari Fires Power Minister, Mamman, over ‘inefficiency’ Minister Buhari Sacked For Inefficiency Arrested Over N22bn Fraud…

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Meet Rupert, Man Who Just Displaced Dangote As Richest African

ADEOLA YUSUF

The Money Man: 10 things to know about the South African and his estimated $12 billion net worth   73-year-old South African businessman Johann Rupert has displaced Nigeria’s foremost billionaire, Aliko Dangote as the richest man on the continent. Johann Rupert, whose net worth is estimated at $12 billion was named by Forbes Magazine in its Real-time global Billionaires ranking while Dangote trails behind with a net worth of $10.8 billion. Rupert’s wealth primarily emanates from his ownership in Cie Financiere Richemont, a prominent luxury goods manufacturer and retailer, along…

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Hilda’s Cook-A-Thon Crashed Our Website – Guinness World Records

ADEOLA YUSUF

+ Why We Approved Only 93 hours 11 minutes out of Hilda’s 100-hour attempt Guinness World Records, GWR, has said that Nigerian chef Hilda Baci’s cook-a-thon crashed their website for two days, Platforms Africa reports. The record body disclosed this in a statement while officially certifying Hilda as the new record holder for the longest cooking marathon by an individual. According to GWR, the crash was due to the immense volume of traffic received from Hilda’s legion of loyal fans. READ ALSO: My Late Son, Ifeanyi, Has A Little Brother…

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