Two Importers, Emmanuel Anthony Nnan and John Paul Ejike, have been remanded in prison custody on the orders of Chief Magistrate O.A. Oshin of the Igbosere Magistrate Court, Lagos, pending their arraignment at the Federal High Court, Ikoyi, Lagos on allegation of forging the Standards Organisation of Nigeria (SON) import documents to bring in suspected substandard liquefied petroleum gas (LPG) cylinders.
According to the SON Prosecutor, Adeleke Olofindare, the suspects were apprehended when they presented forged product registration certificate with the signature of a former SON chief Executive to the organisation’s officials at No. 3 Burma Road Apapa for importation of containers of suspected substandard LPG cylinders.
They were promptly arrested and handed over to the Police for further interrogation.
The prosecution thus applied for a detention order before Chief Magistrate O.A. Oshin of the Igbosere Magistrate Court pending their arraignment which was granted.
It will be recalled that the SON Chief Executive, Osita Aboloma earlier in the year, admonished stakeholders in import and manufacturing businesses to comply strictly with the Mandatory Conformity Assessment Programme (MANCAP) for locally manufactured products and the offshore Conformity Assessment Programme (SONCAP) for imports, reiterating the organisation’s determination to prosecute all standards infractions
David Ayodeji Adeleke, popularly known by his stage name Davido is a Nigerian Afro pop artist. The United States born artist is also a songwriter and a record producer. He made his music debut as a member of the music group called KB International, what exactly is Davido Net Worth .
Davido studied Business Administration at Oakwood University before dropping out to go into music by making beats and record vocal references. He rose to fame in 2011 with the release of ‘Dami Duro’, the second single from his debut studio album ‘Omo Baba Olowo’.
In 2012, David Adeleke won the Headies Award for Next Rated artist. Between 2013 and 2015, he released hit singles, ‘Gobe, One of a kind, Skelewu, Aye, Tchelee which he features Mafikizola, Naughty, Owo ni koko, The sound and The money featuring Olamide Baddo.
In January 2016, Davido announced via his Twitter handle that he signed a record deal with Sony Music. The record label later put out a press release to confirm the record deal. A few months after the deal, he founded the Davido Music Worldwide (DMW) record label. In July 2016, Davido signed a record deal with Sony’s RCA Records.
The former (Sony Records) generated worldwide social media activity, while the latter (Sony’s RCA Records) became the longest-charting Nigerian pop song in Billboard history.
Davido’s Early Life and Beginnings
Davido was born on the 21st of November, 1992 to Adedeji Adeleke and Veronica Adeleke in Atlanta Georgia, USA. His father is a Nigerian business magnate and his later mother was a university (Babcock University) lecturer. He attended the British International School, Lagos and studied Business Administration at Oakwood University, US prior to relocating back to Nigeria.
His interest in music started during his time at Oakwood University. He bought musical instrument and started making beats and recording vocal references. He later dropped out of the university when he started getting bad grades and relocated to London, UK, where he focused more of his energy towards music.
When he returned to Nigeria in 2011, his music career was sidelined after he agreed to honour his father by enrolling at Babcock University. In July 2015, Davido earned a music degree from Babcock University after his father paid the university to erect a music department for an inaugural class of just one student.
“I’ve been doing music for like one year but I took it seriously in March 2011. I was formally in a group called KB International in America. It wasn’t working out so I thought I should just do this on my own and that was when I moved back to Nigeria.
“I was around people that were musically inclined. I love music, and why not do something you love and you are happy doing and making money at the same time,” Davido, on his decision to venture into music.
Davido’s International Fame
On November 30, 2017, Davido won the best African act at the MOBO Awards and also became the first African artist to perform live at the awards. On June 24, 2018, Davido became the first African-based artist to have received his award on the BET Awards main stage.
The award was presented by Hollywood actor, Omari Hardwick and actress Tika Sumpter. In his acceptance speech, he urged patrons and American artists to visit Africa and to also enjoy the African delicacies.
On April 6, 2012, report revealed that Davido signed a N30m endorsement deal with MTN which unveiled him as the face of MTN Pulse, a marketing campaign for Nigerian youths. On October 24, 2013, another report revealed that Guinness Nigeria signed Davido to an endorsement deal. As part of the deal, he performed at the Guinness World of More Concert alongside notable Nigerian artists.
On the 9th of May 2018, a report once again revealed that Davido signed an endorsement deal with Infinix, a smartphone manufacturing company in Nigeria for an undisclosed fee but expected to worth millions of Naira.
Davido can boast of two two adorable and beautiful daughters, Aurora Imade Adeleke and Hailey Veronica Adeleke. Sophia Momodu, a fashion enthusiast and niece to Dele Momodu, CEO, Ovation Company is the biological mother of Imade Adeleke.
Nothing specific is known about the mother of Davido’s second’s daughter, Hailey Adeleke but the media later found her name to be Amanda and resides in Atlanta Georgia.
The Afro-pop artist and father of two adorable kids is currently dating a Babcock University undergraduate, popularly known as Chioma. Davido, in his usual manner has been spoiling Chioma with expensive gifts and shopping sprees.
He bought her an expensive sport car in 2017 to celebrate her birthday. He also currently took her to Dubai and Paris to shop, spoiling her with expensive gifts.
Chioma Avril Rowland is a 300 Level student of Babcock University.
Davido’s House, Cars and Private Jet
Davido is one of the richest musicians in Nigeria today, though he is a son of a wealthy Nigerian billionaire. The numbers of cars and houses owned by him puts him among the wealthiest artists in the Nigerian music industry.
The Atlanta born singer can boast of a mansion in Lekki, Lagos and another one in Atlanta Georgia in the United States of America. According to report, his Lekki house is estimated to cost up to N140 million. The house is said to be a four-bedroom semi-detached duplex with one of the best interior designs in Nigeria.
The singer can also boast of exotic cars in his garage which cost millions of dollars to purchase. He recently acquired a private jet which is rumoured to have cost him N9.7billion.
Davido’s Net Worth
What is Davido Net Worth? Davido’s net worth is estimated at USD14m as at 24 years of age. His cars, houses and endorsement deals are parts of his assets
Following the success recorded by the dematerialization of shares of listed companies in the capital market, the Capital Market Committee, CMC, is advocating that the exercise be extended to shares of unlisted companies.
This was part of the deliberations at the Q1 CMC meeting held in Lagos weekend.
Acting Director General of the Securities and Exchange Commission, SEC, Ms. Mary Uduk who briefed newsmen on the outcome of the meeting, said this is necessary in a bid to further deepen the market.
Uduk said it was acknowledged that the Dematerialization exercise was successful, however, the implementation of this initiative was restricted to shares of listed companies. Consequently, the CMC is advocating for the extension of the exercise to shares of unlisted public companies as this would enhance liquidity and ease market processes, enhances market dynamism, and decision making in securities investment, among others.
According to Uduk, “Dematerialization is the process of converting physical shares into electronic format. The Investor surrenders his physical shares and in turn gets electronic shares in his demat account.
“The advantages of dematerialization are many: it enables the investor to trade at any time without necessarily passing through the bottlenecks of verifying the share certificates any longer, because the shares are now domiciled with CSCS, he can give a mandate to his broker at any time and the broker accesses the Exchange that same day and trade for him.
Uduk also disclosed that the market advocated for the Commission to take strong actions against Company secretaries who aid the trade of shares of unlisted public company outside a SEC recognized platform as required by the law.
“The market was also informed of some successes recorded thus far in the regularization of multiple share subscription. Through this exercise, some Nigerian investors in diaspora have been able to consolidate their shareholding accounts. Similarly, several local investors with numerous accounts have also been able to consolidate their investments.
“We therefore enjoin the general public to take advantage of this initiative to regularize their shareholding accounts before the December 31, 2019 deadline. We crave the indulgence of the ladies and gentlemen of the press to sensitize the public on this initiative.
We continue to seek the support of the media and the collaboration of the entire market as we strive to build the capital market of our dreams” she stated
The CMC was mainly established to serve as a medium for exchange of ideas among market stakeholders as well as for feedback to SEC on how to continuously improve the market activities and regulation.
It is an industry-wide committee comprising members of the commission, representatives of capital market operators and trade groups and other stakeholders. The CMC meets every quarter to deliberate on various issues affecting the market and other policy matters
Without any travesty, the administrative and political tensions surrounding the 2019 general elections are manifest threats to free, fair and credible elections in Nigeria.
In the presence of contentious accusations of rigging – flying from both sides of the political divide – coupled with the abrupt ‘logistic’ failure of the Independent National Electoral Commission (INEC), we are deeply worried about the secrecy in which the major data that can safeguard the elections from possible manipulations is being confined.
According to the electoral commission, there are 84 million registered voters for the general elections. However, questions from both local and international observers remain: What is the total number of collected voters cards across the country?
It is instructive that “84 million registered voters” is vague and susceptible to manipulation the very moment Nigerians are barred from the actual data of collected PVCs. Fifty-two million as of February 17, 2015, this data was published – regular updates in fact – in the last elections. The hesitation today by INEC to do the needful casts immense doubts around its integrity, therefore, the credibility of the upcoming elections.
We’re calling, once again, on INEC to publish immediately the total number of voters cards collected in all states. In the pursuance of fair elections, this is the right thing. Nigerians should, amidst many uncertainties, have data of expected votes.
By Andy Nssien
The Central Bank of Nigeria, CBN, Nigerian Ports Authority, NPA and Fidelity bank Plc, were among the corporate organizations who emerged the winners of the maiden Nigerian Eminent Personalities and Corporates (NEPAC) Awards,
The award was instituted to recognize and honour individuals and organisations that have contributed significantly to the growth of the economy.
Fidelity Bank Plc emerged Best Bank in Corporate Social Responsibility; Central Bank of Nigeria, Best Public Sector Institution in Agriculture Financing; and Nigerian Ports Authority as winner, Best Public Institution in Trade Facilitation and Transparency.
Other winners are Babatunde Raji Fashola, Minister of Power, Works and Housing who was awarded Outstanding Performance in Road Construction and Rehabilitation; Comrade Joe Ajero, President, United Labour Congress bagged the award for Leadership Excellence in Workers’ Rights Advocacy; Tincan Ports Customs Command received an award for Outstanding Performance in Trade Facilitation and Enforcement; Association of Bureau de Change Operators of Nigeria (ABCON), for Outstanding Contribution in Foreign Exchange Rate Stabilization; while the Nigerian Maritime Administration and Safety Agency (NIMASA), was named Best Public Sector Institution in Maritime Safety and Security; just as Nigerian Breweries Plc received the Outstanding Leadership In Sports Sponsorship award.
The event which held at the Sheraton Lagos Hotel and Towers, Ikeja was preceded by a lecture titled, “Diversification: Path To Sustainable Economic Recovery and Growth” delivered by the Director-General, West African Institute for Financial and Economic Management (WAIFEM), Prof. Akpan Hogan Ekpo.
Ekpo stressed the need for the Government to play active role in diversifying the Nigerian economy through formulating and implementing strategies for the policy.
He said, it was the strategic thinking of government that would excite the private sector to want to invest in various areas of the economy (diversification), contribute to growth and make profit.
”The private sector is an engine of growth and not development – the latter is second best. It is government that is an engine of development utilizing the benefits of growth to ensure equity and fairness. It is government that is concerned about education, health, employment, poverty and inequality, not the private sector,” Ekpo, a former Vice-Chancellor of the University of Uyo, Akwa Ibom, stated.
However, for the economic diversification to be effective and sustainable there must be good governance embracing an economic blue-print which stressed development as top priority, he said.
The WAIFEM boss identified key economic drivers for successful diversification to include, economic blue-print, quality of leadership, macroeconomic stability, political will, capacity building and training, competitive federalism, peace and stability, amongst others.
He said there was need for a clear economic blue-print with the understanding that the federal government and states had agreed to foster economic co-operation among their respective states, even as the economic thrust of the co-operating states might be different from that of the government at the center.
A visionary leader, he stated, would galvanize the citizens for development, adding that his/her approach to governance would elicit support and enthusiasm from the followership.
“The positive attributes of a good leader would permeate all other levels of leadership. Leadership within the context of good governance would drive the diversification process in the country,” he added.
Ekpo stated that macroeconomic stability was essential for diversification to take place, explaining, “the economy must be managed to ensure moderate inflation, ensuring that macroeconomic fundamentals move in the right direction. This would enable potential and domestic investors to plan and weigh costs and benefits of investing in Nigeria.”
Stressing the import of political will, he said, “This is both a necessary and secondary condition for economic diversification to be effective and sustainable. Without political will, diversification would remain an exercise in futility.’
Justifying the need for diversification, the former university don stated that the sluggish growth of Gross Domestic Product (GDP), the high rates of unemployment and inflation, rising misery indices, non-performance of the manufacturing sector, traditional agricultural practice, high incidence of poverty, among others pointed to the need to diversify the Nigerian economy.
The NEPAC awards is brainchild of Nigeria’s leading business and financial journal BusinessUpdate, with an online platform (www.businessupdatereports.com).
Nigeria was reported to have scored 47.9 in overall governance, ranking 33rd out of 54 African countries covered in the 2018 Ibrahim Index of African Governance.
Published by the Mo Ibrahim Foundation, the 2018 Index of African Governance was launched during a live event on Monday.
According to the report, though Nigeria improved in ranking from 35 in 2017 to 33 in 2018, the country’s overall score however dropped from 48.1 to 47.9 which is lower than the African average of 49.9 and also lower than the West African average of 54.3.
The Index of African Governance report also showed that Nigeria received its highest category score in Participation and Human rights scoring 53.2 and its lowest score in Sustainable Economic Opportunities in which it scored 43.5.
The report reflected further that the country recorded her highest sub-category score in Participation scoring 62.7 and its lowest in Transparency and Accountability, scoring 34.5.
The 2018 Ibrahim Index of African Governance covered data from 2008-2017 inclusive for 54 African countries.
Commenting on the 2018 Index report, Mo Ibrahim, Chairman of the Foundation said: “There are many positive trends emerge from this year’s Index. Fifteen countries out of the 34 who register progress in Overall Governance over the last decade even manage to accelerate their pace of improvement in the last five years.
“Among those, Côte d’Ivoire, Morocco, and Kenya display the most impressive progression, stepping up from 41st, 25th and 19th to 22nd, 15th and 11th ranks over the past decade.
“On average on the continent, improvements in indicators related to Health and Infrastructure stand out. There are also recent and welcome improvements in Rule of Law and Transparency & Accountability, even if scores in the latter are still low,” Ibrahim added.
A coalition of civil society organizations under the aegis of the Civil Society Network Against Corruption (CSNAC) has call on the Economic and Financial Crimes Commission (EFCC) to begin probe of the alleged N100 billion tax evasion and money laundering levelled against Alpha Beta Consulting Ltd., Alpha Beta LLP and Ocean Trust Ltd.
A former Managing Director and Chief Executive Officer of the consulting firm, Mr. Dapo Apara, had last month accused the company given exclusive rights to monitor and collect Internally Generated Revenue on behalf of the Lagos State Government, of tax fraud to the tune of N100 billion.
In a petition forwarded to the EFCC and signed by CSNAC’s Chairman, Mr Olanrewaju Suraju, the network urged the anti-graft agency to immediately begin investigation into the allegation in furtherance of the government’s will in its call for citizens’ participation in governance and fight against corruption.
The group stated inter alia: “Following the breaking news on Sahara Reporters dated September 7, 2018, and captioned ‘Tinubu’s Alpha Beta accused of N100bn money laundering, tax evasion fraud’, we write to urge you to use your good offices, in collaboration with the Federal Inland Revenue Services, to dauntlessly and without fear or favour launch an urgent and immediate investigation into the allegations contained in the said report with a view to proving to the Nigerian populace that the current administration’s fight against corruption is transparent and executed without concerns about whose ox is gored.
“Speculations are that the company belongs to Mr Bola Ahmed Tinubu, the ex-governor of Lagos State and ‘National Leader’ of the ruling party or that he is a major shareholder in the company, as Alpha Beta first became known when it was appointed as a consultant to the Lagos State Government, under the tenure of Babatunde Fowler as the Chief Executive Officer/Executive Chairman of the Lagos State Board of Internal Revenue from 2005 to 2014”, it added.
Noting further that since Apara’s allegations were made public last month, the Lagos State Government has not made any comments or taken steps to investigate the issues raised, the civil society coalition pointed out that the state never denied claims that the company takes about 10 percent of the state’s IGR, estimated to be about N40 billion monthly as at 2016.
The group stated further: “Recall that we also wrote a petition to your office sometime in March, 2018, with respect to the use of fishy companies to aid corruption by the ‘feudal lords’ in Lagos State by diverting public resources into private holdings.
“Mr Apara, according to the aforementioned publication, stated that over the years, the company is being protected and shielded by some powerful politicians and people in the society which made them to always boast of being untouchable”, CSNAC added.