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Home > Archives for > Page 54
Author

Folarin Kehinde

Folarin Kehinde

Accident
Headlines

Deadly Motor Accident Claims 19 Lives In Abuja

by Folarin Kehinde September 19, 2022
written by Folarin Kehinde

A deadly Auto Accident has claimed the lives of 19 people in Abuja.

The car crash occurred on Sunday along the Gwagwalada-Lokoja expressway in FCT, Abuja. The accident comprised of three vehicles and 31 victims.

Of the 31 victims, 19 were burnt beyond recognition while another 8 sustained various degree of injuries.

Dauda Biu, acting corps marshal of the Federal Road Safety Corps (FRSC), confirmed the development when he visited the accident scene. Biu said the crash involved three vehicles — two Toyota Hiace buses and an articulated vehicle.

“Investigation showed that the main causes of the crash were speed limit violation and wrongful overtaking, which eventually resulted in the loss of control.

The Toyota Hiace bus, with registration number MUB- 30 LG, crashed into the Citroen articulated vehicle and burst into flames, killing everyone on board.

“The second bus hit the first bus from behind and also caught fire. The fire melted the second bus with the Bauchi Dtate number plate. It was coming from Takai, Kano State while heading to Benin.

“The Citroen vehicle loaded chicken feed from Zaria in Kaduna state and was heading to Akwa Ibom.

“The nineteen corpses were trapped but extricated by rescue operatives,” he stated.

Biu disclosed that the police had taken over the investigation and met with relevant authorities for the mass burial of 18 of the victims, who could not be preserved for identification as they were “burnt beyond recognition.”

“Clearing obstructions for free flow of traffic is ongoing as you can see and we will do our best to ensure we have a crash-free society.

“Injured victims were taken to a nearby hospital in Kwali in the FCT and one identified male corpse was deposited at the mortuary at Kwali General Hospital,” he further stated.

Biu cautioned road users to always avoid excessive speeding, wrongful overtaking and other bad driving behaviours. He also advised commuters to shun night trips and travel in the daytime because of hazards associated with night trips.

September 19, 2022 0 comments
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Chinese Man
Headlines

Chinese Man Stabs Lover To Death In Kano

by Folarin Kehinde September 17, 2022
written by Folarin Kehinde

A Chinese man identified as Geng Quangrong has allegedly stabbed his lover, a 23-year-old woman, Ummu Kulthum to death at Janbulo quarters, Kumbotso Local Government Area of Kano.

The incident reportedly happened around 10pm on Friday after the suspect came to visit the deceased, identified as Ummakulsum Sani Buhari, at her parents’ house located adjacent National Environmental Standards and Regulations Enforcement Agency (NESREA) office.

While what transpired between the duo and led to the unfortunate event remains sketchy, it was gathered that she was certified dead by a doctor.

Abubakar Mustapha, a neighbour to the deceased revealed that she was a divorcee and the suspect was her boyfriend.

“The incident happen around 10:00pm last night. The Chinese murderer was her boyfriend since before she got married. Her husband divorced her and they went on with their friendship as boyfriend and girlfriend. He often went to her house. She was taken to UMC Zhair Hospital not more than a kilometre away from her house and she died.”

“Khaleed, her brother stopped the mob from attacking the murderer when he came back for his car when he entered the house because he (Khaleed) thought that will be lead to a different thing. The man was then caught and handed over to the police,” Mustapha said.

Another neighbour, Muhammad Sani, told one of our reporters that the suspect once attempted suicide because of the girlfriend but with the intervention of the police, the matter was settled.

“When she was about getting married, he once attempted suicide because of his love for her until the police intervened and everything was settled,” he said.

He added that the suspect had been taken to the divisional police station at Dorayi quarters.

The deceased, Ummakulsum, popularly known as ‘Ummita’ attended Kano School of Nursing and Midwifery.

The Police Public Relations Officer in Kano, Abdullahi Haruna Kiyawa, confirmed the incident and promised to provide more information later.

September 17, 2022 0 comments
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Prof. Yemi Osinbajo
Headlines

Osinbajo To Attend Queen Elizabeth’s Funeral

by Folarin Kehinde September 17, 2022
written by Folarin Kehinde

Vice President Yemi Osinbajo will be representing Nigeria in the funeral of Queen Elizabeth II.

Prof. Osibanjo will on Saturday depart Abuja for London to represent Nigeria at a number of events on Sunday and Monday, including the State funeral for Queen Elizabeth II of the United Kingdom.

“Prof. Osinbajo departs Abuja today and will join members of the Royal Family, world leaders – including members of the Commonwealth, Heads of State, Governors-General, Prime Ministers, and foreign royal families – at the ceremonies, including the funeral service scheduled to hold at Westminster Abbey on Monday,” a statement signed by the VP’s Senior Special Assistant on Media and Publicity, Laolu Akande, read on Saturday.

Queen Elizabeth II, 96, passed away on September 8, 2022 at the Balmoral Castle in Scotland, the United Kingdom.

Until her demise, she was the Head of the Commonwealth and the longest serving British monarch, reigning for 70 years.

Akande added, “Ahead of the funeral service, the Vice President will be among guests and dignitaries to be received by King Charles III and Queen Consort Camilla, at a reception in Buckingham Palace on Sunday.

“Earlier on that day, the VP will hold a bilateral meeting with the UK Foreign Secretary, James Cleverly.”

The Vice President will return to Nigeria after Monday’s State Funeral.

September 17, 2022 0 comments
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BusinessHeadlines

Kuda Bank Losses Over $16 Million Dollars In Two Years

by Folarin Kehinde September 17, 2022
written by Folarin Kehinde

Kuda Bank MFB, a disruptive fintech and neobank has been recording financial losses in the past two years. Within a two year period, the net loss of the bank stands at over $16 Million dollars.

By the end of the 2021 financial year, the company recorded a loss of ₦6,092,554,866 ($14,214,681), a 602% rise from the ₦868,062,000 ($2,025,295) loss it made in 2020, according to its financial report. .

The financial report indicated that the company’s revenue increased by 4,315% from ₦72,649,000 in 2020 to ₦3,207,177,570 in 2021. However, after every expense had been deducted, the company closed the year at a net loss, with high credit loss/impairment charge and operating expenses contributing the most to the loss.

Bad loans delivered the hardest stroke

The report said that “the nonperforming loan (NPL) recorded by the firm is too high for the comfort calculated at 69%”, and this, as expected, drove the neobank to a high impairment rate—valued at ₦2,258,698,669. For context, loans are considered impaired when, based on current information and events, it is probable that the creditor will be unable to collect all interest and principal payments due according to the contractual terms of the loan agreement.

Specifically, in the analysis part of the report, the impairment is said to have eroded 96% of the interest income made from the loan offer. What this means, in general, is that Kuda extended a lot of bad credit through its overdraft product and that ate into its balance sheet.

Kuda, a few days before it announced its $25 million Series A round in March 2021, started piloting its overdraft product with over 2,500 users who “have been using their Kuda accounts actively”. By June, it claimed that the product had hit 50,000 users weekly. The company once said in a statement that at the end of the second quarter of 2021, they had disbursed $20 million worth of credit to over 200,000 qualified users, with a 30-day repayment period.

In fact, the company’s co-founder and CEO Babs Ogundeyi once claimed that the neobank has seen “minimal” default because of its approach. “We use all the data we have for a customer and allocate the overdraft proportion based on the customer’s activities, aiming for it not to be a burden,” Ogundeyi said in that statement.

It’s worth mentioning that traditional banks generate a big part of their revenue from lending. In fact, while Kuda’s NPL ratio ended the year at 69%, the average ratio in the traditional banking industry dropped to 4.8% in the same period. Traditional banks mostly extend credit to a few low-risk businesses with substantial collateral that already mitigates defaulting, while Kuda only works with users’ activities on its app. Still, the difference between the two ratios is disturbing.

The aforementioned financial report analysis similarly stated that “the firm’s risk appetite, criteria and strategy relating to retail and business loan calls for immediate restructuring.”

source

September 17, 2022 0 comments
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Cristiano Ronaldo
EntertainmentHeadlines

Cristiano Ronaldo My Toughest Opponent – Dani Alves

by Folarin Kehinde September 16, 2022
written by Folarin Kehinde

Dani Alves has named Cristiano Ronaldo as the toughest opponent he’s ever played against, singing his praises in a new interview.

Alves tussled with Ronaldo for several years during his illustrious first spell at Barcelona where he won six La Liga titles and three Champions League crowns, among countless other honours and accolades.

Establishing himself as one of the greatest full backs in the game’s history, Alves has shared the pitch with plenty of football’s biggest stars and had to defend against some incredible players.

Now plying his trade in Mexico with Pumas UNAM, the 39-year-old sat down with ESPN journalist Hugo Sanchez, and when asked who the toughest opponent he had faced was, he picked Ronaldo.

“He doesn’t let you breathe for a second. I didn’t do too badly, but it’s difficult.

“He’s a scoring machine,” he added, paying tribute to the five-time Ballon d’Or winner who tore up La Liga for Real Madrid while Alves played with Lionel Messi for Barcelona.

Ronaldo is currently Real’s all-time top scorer having bagged 450 times in all competitions for the club before leaving in 2018, following an incredible near decade-long rivalry with Messi in the Spanish top flight.

His rampant goal scoring for club and country has established him as one of the game’s greatest players, breaking the record for most goals scored at men’s international level in 2021.

September 16, 2022 0 comments
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Headlines

Man Sentenced To 21 Years In Prison For Raping Daughter

by Folarin Kehinde September 16, 2022
written by Folarin Kehinde

An Ikeja Special Offences Court on Thursday sentenced a 52-year-old man, Akin Isaac, to 21 years’ imprisonment for raping and impregnating his 18-year-old daughter.

Justice Oluwatoyin Taiwo sentenced the convict following his April 21 plea bargain application.

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“In view of the guilty plea of the defendant to one count of defilement, I hereby find the defendant guilty as charged,” Taiwo said.

The judge thereafter asked the defendant if he had anything to say, following his conviction.

reports that the convict knelt down in the dock and pleaded for mercy, saying he had an aged mother to look after.

The judge, thereafter, sentenced him to 21 years in prison and added that the sentencing should take effect from June 2020 when he was arrested.

Earlier, the judge had asked the State Counsel, Mrs Omowumi Bajulaye- Bishi if the 21 years plea bargain was good enough for the convict, owing to how emotional the survivor was while she was giving her testimony.

“I remember the survivor clearly. She was weeping right here in the box. Abortion, pregnancy, drugs, beating and all sorts of inhuman treatment meted on her by her father?

“Do you think 21 years is good enough for him,” the judge asked.

The prosecutor said that the defendant had started having unlawful sexual intercourse with his 18-year-old daughter while she was six years old, which resulted in at least one pregnancy.

She also submitted that the defendant attempted to procure an abortion for her and regularly administered drugs to her to prevent pregnancy.

September 16, 2022 0 comments
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Buhari
Headlines

Buhari Orders NNPC To Build East-West Road

by Folarin Kehinde September 16, 2022
written by Folarin Kehinde

President Muhammadu Buhari has tasked the Nigeria National Petroleum Corporation and the companies under it to make sure section 4 of the East-west Road is completed.

The road spans from eleme Roundabout to Onne junction.

President Buhari said the road should be fixed without delay through the Tax Credit Scheme.

He said that the East-West road project currently handled by the Federal Ministry of Works and Housing is the largest infrastructure in Nigeria,and very dear to his administration.

Buhari stated this on Thursday in Uyo, Akwa Ibom State while delivering a keynote address at the opening ceremony of the meeting of the fifth National Council on Niger Delta held at Ibom Icon Hotel and Suites

The event was with the theme, ‘Harnessing 21st century Development Initiatives and Strategies for Greater Development in the Niger Delta’.

The President who was represented by the Minister of Environment, Alhaji Mohammed Abdullahi, said the completion of the project is a” top priority for this administration”.

He said, “The East-West Road project which is now being handled by the federal Ministry of Works and Housing is the largest infrastructure project in Nigeria, as it’s very strategic road, connectors the country’s busiest and foremost commercial cities in the region.

“Considering the priority this administration places on the completion of this project, the Ministry of Petroleum has directed NNPC and it’s subsidiaries to step in and fix section 4 of the East-West road (Eleme Roundabout to Onne Junction), through the Tax Credit Scheme.”

He stated further that his administration had undertaken critical reforms in the Niger Delta Development Commission, adding that the implementation of the recommendations of the Forensic Audit Report which is being implemented in phases would bring about the constitution of the new board, which according to him is the desire of the most stakeholders in the region.

September 16, 2022 0 comments
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Ncc chrome extensions
BusinessHeadlines

Five Chrome Extensions Stealing User Information – NCC Warns

by Folarin Kehinde September 16, 2022
written by Folarin Kehinde

The Nigerian Communications Commission (NCC) has identified five malicious chrome extensions that they urge Nigerians to delete immediately.

According to the commission, the extensions surreptitiously track online browser activities and steal users’ data.

These extensions were identified by the Computer Security Incident Response Team of the NCC (NCC – CSIRT) and announced it on their website at ncc.gov.ng.

The five malicious extensions are McAfee Mobile, Netflix Party, Netflix Party, Full Page Screenshot Capture Screenshotting, FlipShope Price Tracker Extension, and AutoBuy Flash Sales.

These extensions have been downloaded over 1 million times at the time of writing this report. Their sole intentions are to steal user data and monitor their online activities.

According to NCC-CSIRT the five google chrome extensions identified have a high probability and damage potential, have been downloaded more than 1.4 million times, and serve as access to steal users’ data.

Part of the advisory from NCC reads: “The users of these chrome extensions are unaware of their invasive functionality and privacy risk.

Malicious extensions monitor victims’ visits to e-commerce websites and modify the visitor’s cookie to appear as if they came through a referrer link.

Consequently, the extensions’ developers get an affiliate fee for any purchases at electronic shops.

NCC also stated that although the google team removed several browser extensions from its Chrome Web Store, keeping malicious extensions out may be difficult.

The NCC-CSIRT, thus, recommended that telecom consumers observe caution when installing any browser extension.

These include removing all listed extensions from their chrome browser manually. Internet users are to pay close attention to the promptings from their browser extensions, such as the permission to run on any website visited and the data requested before installing it.

Although, some extensions are seemingly legit, due to the high number of user downloads, these hazardous add-ons make it imperative for users to ascertain the authenticity of extensions they access.

September 16, 2022 0 comments
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Godswill Akpabio
Headlines

Court Orders APC To Accept Akpabio As Senatorial Candidate

by Folarin Kehinde September 16, 2022
written by Folarin Kehinde

A federal high court in Abuja has ordered the Independent National Electoral Commission (INEC) to accept and publish the name of Godswill Akpabio as the candidate of the All Progressives Congress (APC) for Akwa Ibom north-west senatorial district in 2023.

Senate President Ahmad Lawan, Godswill Akpabio, former minister of Niger Delta affairs, and Dave Umahi, governor of Ebonyi, had been listed by the APC as candidates for Yobe north, Akwa Ibom north-west, and Ebonyi south senatorial districts, respectively.

However, in the list published by INEC, Lawan, Umahi and Akpabio were said to have been excluded.The former minister was in the race for the party’s presidential ticket, but dropped his bid for another candidate.

Prior to the presidential primary election on May 27, Udom Ekpoudom, former deputy inspector-general of police (DIG), won the primary election for Akwa Ibom north-west senatorial district.

A parallel primary election was also conducted and won by Ekperikpe Ekpo, but was later cancelled over irregularities. A rerun conducted on June 8 was said to have produced Akpabio as the winner of the exercise.

Speaking on the development regarding the INEC list, Festus Okoye, INEC speokesperson, said the commission is not under obligation to publish the names of candidates submitted by political parties if there are questions over the validity of primaries featuring such candidates. Consequently, the APC and Akpabio approached the court to seek redress

Delivering judgment on Thursday, Emeka Nwite, the judge, held that INEC contravened the law when it refused to accept and publish Akpabio’s name, despite the fact that the APC had listed him as its candidate.

“I hereby declared that the defendant (INEC) publish the name of the 2nd plaintiff (Akpabio as the authentic candidate,” the judge ordered.

September 16, 2022 0 comments
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BusinessHeadlines

Breaking: Nigerian Inflation Hits 20.52 In 2022

by Folarin Kehinde September 15, 2022
written by Folarin Kehinde

The National Inflation rate has hit 20.52 percentage in August, 2022.

The Consumer Price Index (CPI) which measures inflation rose to 20.52 per cent year on year in August compared to 17.01 per cent in the corresponding period in 2021, the National Bureau of Statistics (NBS) said Thursday, 15 September 2022.

It said the 3.52 per cent rise indicated that the headline inflation rate increased in August 2022 when compared to the same month in the preceding year.

According to the CPI report for August 2022,  which was posted on the NBS website, food hike stood at 23.12  per cent on a year-on-year basis in the period under review,  which was 2.82 per cent higher than the 20.30 per cent recorded in August 2021.

However, core inflation, which excludes the prices of volatile ag­ricultural produce stood at 17.20 per cent year on year in August,  up by 3.79 per cent when compared to 13.41 per cent recorded in August 2021.

Details later…

September 15, 2022 0 comments
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