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Home > Business > Page 29
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Africa & WorldBusiness

World’s third Climate Clock arrives in South Korea

by Leading Reporters May 14, 2021
written by Leading Reporters

Herald Corp. installs Climate Clock on roof of Seoul headquarters to raise awareness about climate crisis…

At a glance, the series of numbers — six years, 235 days, six hours, four minutes and 55 seconds — makes little sense.

But they are arguably the most important numbers for humanity. They represent the time we have left until the Earth’s deadline: the “point of no return” in the climate crisis.

The monument-sized Climate Clock showing the numbers was unveiled Thursday on the roof of the Herald Corp. headquarters in Seoul, sending a chilling warning that the Earth is racing toward catastrophe.

The digital clock, which is 8.5 meters wide and 1.8 meters long, is the first permanent Climate Clock in Asia and the third in the world. The first was set up in Berlin in 2019 and the second in New York in 2020. 

With South Korea’s landmark N Seoul Tower in the background, the Climate Clock in Seoul shows that as of Thursday the Earth had about six years, 235 days, six hours, four minutes and 55 seconds before global warming reaches irreversible levels, based on current emission rates.

The Climate Clock installed in Berlin, Germany in 2019. (The Climate Clock)
The Climate Clock installed in Berlin, Germany in 2019. (The Climate Clock)
The Climate Clock installed in New York City, the US in 2020. (The Climate Clock)
The Climate Clock installed in New York City, the US in 2020. (The Climate Clock)

Created by artists Gan Golan and Andrew Boyd, the Climate Clock counts down how much time is left before we deplete the Earth’s carbon budget — that is, the amount of carbon dioxide we can still release into the atmosphere while limiting global warming to 1.5 degrees Celsius above preindustrial levels.

According to scientists, keeping the world from warming by more than 1.5 degrees Celsius from preindustrial levels is crucial if we are to avoid the catastrophic impact of climate change — rising sea levels, flooding, droughts, extreme heat waves, wildfires and other disasters.

“Grounded in the latest climate science, the Climate Clock tells us what we need to do by when,” Boyd told The Korea Herald. “In short, we need to build a 100 percent renewable-powered future in less than seven years.”

The numbers on the Climate Clock are based on the amount of global carbon emissions as well as the amount of the world’s energy supplied from renewable sources, currently at 12 percent and slowly rising. The data comes from the Mercator Research Institute on Global Commons and Climate Change, and from One World in Data, respectively.

The arrival of the Climate Clock is part of the Herald Corp.’s campaign to address the climate emergency, which the company sees as the defining challenge of our time.

Through the campaign, Herald Corp., which owns two of Korea’s major newspapers, The Korea Herald and The Herald Business, seeks to draw attention to the climate crisis and remind Koreans that the Earth has a deadline, it said. 

The monument-sized Climate Clock, which is the third of its kind in the world and the first in Korea, is set up on the roof of the Herald Corp. headquarters office in Huam-dong, Yongsan-gu, Seoul. (Park Hae-mook/The Herald Business)
The monument-sized Climate Clock, which is the third of its kind in the world and the first in Korea, is set up on the roof of the Herald Corp. headquarters office in Huam-dong, Yongsan-gu, Seoul. (Park Hae-mook/The Herald Business)

The Climate Clock’s co-creators welcomed its presence in Seoul.

“After too many years where governments and major media platforms did not take the climate crisis seriously enough, it is incredibly heartening to partner with Herald Corp., who are making the climate emergency a priority focus of their reporting and advocacy,” Boyd said.

“Media companies and organizations such as The Korea Herald play an indispensable role in highlighting the urgency of the climate crisis as well as the many solution pathways, particularly the rapid deployment of renewable energy, available to address it,” he added.

The installation of the Climate Clock comes at a critical point for the global efforts to combat the climate crisis.

This year is marked by significant political events, including the P4G summit — Partnering for Green Growth and the Global Goals 2030 — to be held in Seoul on May 30-31, as well as the UN Climate Change Conference, also known as COP26, set for Glasgow on Nov. 1-12.

“We hope the Seoul Climate Clock will serve as a lightning rod for South Korea’s climate movement and raise the country-wide emission-reduction targets that South Korea brings to the COP26 UN Climate Summit in Glasgow, Scotland later this year,” said co-creator Golan.

“With luck, Seoul’s Climate Clock will not only spark momentum nationally, but also encourage other key countries in East Asia to raise their climate ambitions,” he added. 

The monument-sized Climate Clock, which is the third of its kind in the world and the first in Korea, is set up on the roof of the Herald Corp. headquarters office in Huam-dong, Yongsan-gu, Seoul. (Park Hae-mook/The Herald Business)
The monument-sized Climate Clock, which is the third of its kind in the world and the first in Korea, is set up on the roof of the Herald Corp. headquarters office in Huam-dong, Yongsan-gu, Seoul. (Park Hae-mook/The Herald Business)

The Climate Clock project, which involves a team of artists, scientists, engineers, designers and activists from around the globe, is an open-source project presenting a “critical window” for internationally-coordinated action to reduce emissions and avert climate disaster.

According to the founders, the Climate Clocks — some small, others large — are being built temporarily or permanently at homes, schools and public spaces all over the world from Sydney to Istanbul. Another monumental clock is set to be unveiled in Rome in May at the earliest.

The creators said they had previously made a small-sized climate clock for Greta Thunberg, the teenage activist from Sweden, before her appearance at the United Nations Climate Action Summit in 2019.

In an effort to contribute to achieving climate equity and justice, the Climate Clock team charges licensing fees to for-profit organizations, municipalities and governments that want to set up the clocks. The funds are spent on activists seeking to bring the Climate Clocks to their cities, according to the organization.

For individuals hoping to make their own watches or portable clocks, free kits are available on its website.

By Ock Hyun-ju (laeticia.ock@heraldcorp.com)

May 14, 2021 0 comments
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HeadlinesBusiness

U.S. Announces Priority Appointments for Student Visa Applicants

by Leading Reporters May 1, 2021
written by Leading Reporters

The U.S. Mission will prioritize student visa applicants and ensure Nigerian students resuming this Fall get visa interview appointments well in advance of their program start date.

U.S. Mission Country Consular Coordinator Susan Tuller announced on Friday that the Embassy in Abuja and Consulate General in Lagos will make every effort to assist student visa applicants in a timely fashion while keeping personnel and customers safe.

“As we continue to prioritize the health and safety of our staff and customers, processing student visas remains a high priority for the U.S. Mission in Nigeria,” Country Consular Coordinator Tuller said.

“We will increase the number of student visa appointments in May and June to ensure that we can offer appointments to as many students as possible.

If your U.S. studies are scheduled to begin this Fall, we encourage you to schedule your appointment as quickly as possible.”

Tuller explained that all student visa appointments must be booked through the U.S. Travel Docs website at www.ustraveldocs.com/ng/.

She warned applicants against the use of third-party services, including touts, and fixers who broker visa appointments.

According to her, agents or third parties often seek to benefit by charging a fee for their services and they may not always provide the correct information, which can harm an applicant’s chances of qualifying for the visa.

“Both Nigeria and the United States benefit when Nigerian students study at one of our world-class educational institutions.

To prepare for your U.S. educational opportunity, we encourage you to check out EducationUSA Advising Centers at our American Spaces in Abuja, Lagos, Ibadan, and Calabar, or at educationUSA.state.gov,” she added.

Nigeria sends more students to American colleges and universities than any other country in Africa and is the eleventh largest source worldwide of international students to the United States.

In academic year 2019-2020, a record-breaking number of nearly 14,000 Nigerians pursued graduate and undergraduate degrees in the United States.

Over the last 21 years, the EducationUSA Advising Centers in Nigeria have directly contributed to an increase in the number of highly qualified Nigerian applicants to U.S. institutions.

In 2020, advisees of EducationUSA services received scholarships worth $28 million.

Additional information on U.S. travel and student visas is available at travel.state.gov or ng.usembassy.gov.

May 1, 2021 0 comments
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Business

Nigeria’s external debt grows by 411% in 8 years — ActionAid

by Leading Reporters April 14, 2021
written by Leading Reporters

Study commissioned by ActionAid Nigeria has revealed that the country’s external debt stock increased by 410.9 per cent between 2012 and 2020, with the highest year-on-year growth recorded in 2017 at 65.82 per cent, followed by 35.16 per cent growth in 2013 and 33.63 per cent in 2018.

“The states and FCT external debt stock calculated in USD grew by 29.5 per cent, while the calculation in naira produced 136.7 per cent growth. The external debt component had risen to 31.82 per cent of overall debt as at end of 2018, while the domestic debt was 68.18 per cent of overall debt. Furthermore, Nigeria’s debt to GDP has been growing over the years and stood at 19 per cent by end 2018.”

Onyekpere said the Central Bank of Nigeria (CBN) and banks are heavily exposed to these domestic instruments up to 45.2 per cent of overall and the non-bank public is mainly about Pension Fund Administrators, Asset and Fund Managers, as well as Insurance companies hold the remaining part.

“The current debt to retained revenue profile of about 83 per cent is not sustainable. The drive to raise new domestic revenue is a struggle of the generation and it should attract the energy, vision and vigour of both government and citizens. The major driver should be a commitment to expand available resources, rather than the current clamour for sections of the country to have more of the stagnant pool of available resources. Debt can be reduced if we generate more revenue.”

April 14, 2021 0 comments
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Business

OCP Africa, NISS move to solving 75% of Acidic Soils in Nigeria

by Leading Reporters March 25, 2021
written by Leading Reporters

OCP Africa and the Nigeria Institute of Soil Science (NISS) on Wednesday signed a Memorandum of Understanding (MoU) to solve issues of 75% acidic soils which are problematic to agriculture produce in Nigeria.

The Registrar/CEO, Nigeria Institute of Soil Science, Prof. Victor Chude while speaking in Abuja at the Inception Workshop on Management of Problematic Soils in Nigeria stated that the workshop is kick starting a project aimed at addressing issues of problematic soils, improve soil quality and increase agricultural productivity through effective sustainable management of problematic soil.

According to Chude, 75% of Nigeria soils which are acidic are problematic and as such, new innovations and technologies that are ecosystem friendly will be disseminated to managing the problematic soils in Nigeria.

“We are targeting soil such as acidic soils, saline, alkaline and other problematic soils, but the major problematic soil is the acidic soils that covers about 75% of this country.”

“Then alkaline soils because they don’t support agricultural growth, the implication is that farmers facing this limitations suffer from making good yields.”

“75% of Nigerian soils are acidic when I say acidic, I mean from strongly acidic to slightly acidic, the slightly acidic soils are still productive but then if you collect the acidity it will improve the productivity but only 20% of the soils are strongly acidic and this strong soils are found in the southern part of the country as a result of high rainfall, high litching of basic element and nutrients that will ultimately make them low productive soils so we need to do something”.

The Production and Technical Manager, OCP Africa Fertilizer Limited, Oluwatobi Asana, stated that an average productivity per hectare of farmlands in Nigeria is very low due to problematic soils which has led to insecurity and poverty within the farming population.

Meanwhile, Asana noted that management of the problematic soils should be directed towards enhanced crop productivity through addition of soil amendment or by manipulating the agronomic practices depending on the climatic conditions.

“Managing soils so they are sustainable for future generations is our collective responsibility and there is no better time to rise to the challenge than now”.

He added that in order to achieve this, a multidisciplinary approach is required to breed specialized root system types which match the most urgent constraints of different locations.

“There is therefore a dire need to maintain good soil health for increased and sustained agricultural production”.

Permanent Secretary, Federal Ministry of Agriculture and Rural Development, Dr. Ernest Umakhire stated that the project is important as it holds immense potentials for the agricultural sector while complimenting the renewed effort of the ministry aimed at introducing modern farming techniques to Nigerian farmers and empowering them to enable rapid adoption.

Umakhire added the pain experienced by farmers who are compelled to use this problematic soils cannot be underestimated

“We therefore have to explore ways and means of reclaiming our previously arable lands and take necessary steps to prevent abandonment of farmland as a result of low productivity.”

He pointed out that the technologies to be introduced to the soil should be such farmers can easily adopt and implement at very minimal cost.

“The methodology for the proposed project should focus on those technology that will address the challenges of problematic soil in agriculture while not overlooking the root causes.”

“Please bear in mind the need to protect our environment as we deploy this technology and innovation for soil amelioration so that our ecosystem in not adversely affected”. He added.

March 25, 2021 0 comments
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BusinessHeadlines

FGN N50b monthly electricity susbsidy not True

by Leading Reporters March 18, 2021
written by Leading Reporters

Organised Labour has tackled the Federal Government over claims of subsidising electricity supply across the country for over N50billion monthly.

The administration of President Goodluck Jonathan privatized the electricity sector in November 2013 and handed it over to 11 distribution companies and six generating companies.

Last month, Minister of Power Sale Mamman, said the Federal Government was paying N50 billion monthly to subsidise electricity across.

But Labour yesterday wondered why the government would pay subsidy for a sector it claimed to have privatized.

Deputy President, Nigeria Labour Congress (NLC), Joe Ajaero, asked the government to come out and tell Nigerians the level of money they were giving to the operators of the sector.

Ajaero, who doubles as the General Secretary of the National Union of Electricity Employees (NUEE), asked the government to unmask the real owners of the Distribution and Generating Companies the sector was sold to in 2013.

He spoke at a briefing to unveil the burial arrangements for the late Secretary General of the Medical and Health Workers Union (MHWUN), Dr Silas Adamu.

The MHWUN scribe and his wife and daughter died in a road accident along Abuja-Kaduna.

Ajaero said: “I have never believed that there is subsidy. Let us take the electricity for instance. When it was under NEPA, the tariff was down there; nobody gave NEPA one kobo. And NEPA was running the lowest tariff. It was not subsidised.

“Now you sold it to people and they increased tariff five times and you still tell me you are subsidising it. I think there is something wrong there. And throughout the meeting we told them there is no subsidy.”

“How do you subsidise a commodity that is the private sector? Are they subsiding garri, banana and plantain that are in private houses? Having privatise the sector unless the so called operators are blackmailing them (Fed Govt) and collecting money free from them (government).

“If a product is sold for N10 per kilowatt hour you then privatise and started selling it at N30 per kilowatt hour, with additional N20 and then you say you are subsidising it doesn’t add up. I don’t know where that money is coming from. It is not true.

“They (government) should come out and tell Nigerians the level of money they are giving to the operators. Nigerians should be able to unfold the real owners of the Discos.

“The names we are hearing none of them own the Discos whether the MD or Chairman or both and we need to know. We have said this again and again and people are saying subsidy. Then you say you have subsidised with about N1.3 trillion and you sold it at N400 billion and we don’t ask questions?

“Why will subsidy be more than the price?”

The labour leader also said governance structure in the country has collapsed.

“Why will subsidy be more than the price?”

The labour leader also said governance structure in the country has collapsed.

Ajaero said: “Governance to a very large extent seems to have collapsed because when we talk of there is no electricity it will seem as if the roads are working or the rail system is working or the roads are working.

“The same way there is no electricity there is no water. You can’t even go through the public water system and open the taps. Growing up, I can still draw an inference from the 70s. That is why I said Nigeria is under developing; the country is going down.

“Things are getting bad and the problem we have is that of governance and if we fix governance things will start working again.”

March 18, 2021 0 comments
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Business

FG Seal Fuel Station, Cement Depot in Abuja

by Leading Reporters March 13, 2021
written by Leading Reporters

The Director, Weights and Measures Department, Ministry of Industry, Trade and Investment, Mr. Abubakar Galadima sealed Shema filling Station and a cement depot in Abuja over shortchanging consumers the Nigerian government.

Galadima who lead a team of the department on a surveillance activity to food stores, cement depot and filling stations in Abuja stated that the exercise aimed at generating revenue and ensure that Nigerians are not cheated.

LR-Sealed Shema Filling Station

According to Galadima, Shema filling station was sealed because of their inability to produce their letter of certification and over charging of motorists.

“Generally, all the filling stations that we visited are good except this particular station, and I have directed that this place should be sealed.

LR-Cement Deport

He added that the cement factory was sealed due to re-bagging of 50kg cement and reduced to 44kg.

Galadima assured that both companies will be shut for the next 28 days until they comply with their terms.

“This place will be shut for 28 days, we have a tolerant level, it is above or below five points we seal the station, if they are ready to comply, and conform with our directives then they will be unseal but if they refuse to do this, it will remain close for a month after which we take them to court for prosecution.”

LR-Sealed Shema Filling Station

Meanwhile, Galadima stated that because of the ongoing exercise which will be done in the six geopolitical zones of the country, majority of the filling stations will now adjust their pumps to make sure they stay within the accepted level and which will in turn give more revenue for the government.

“We are not going to allow a situation where consumers will be shortchanged, so if we find anything going contrary to our justification, we are not going to allow it”.

“They are shortchanging Nigerians by over charging motorists and that is not allowed by our act, that is why we are sealing this place and until they respond adequately, we are not going to unseal it.”

He however assured that the department will visit all filling stations to ensure compliance and consumers have value for their money.

“We are going to all filling stations within our powers to make sure that they pay their dues, we have a responsibility to ensure compliance, Nigerians can not shortchanged but have value for their money.”

March 13, 2021 0 comments
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BusinessHeadlines

Banks to vacate Abuja choicest Area in 7days…

by Leading Reporters March 10, 2021
written by Leading Reporters

Banks and other business organization might begin to count their loss following a seven-day ultimatum given to them

by the FCTA Administration to vacate Maitama relocate to the Central Business District or risk being sealed up.

The Acting Director, Department of Development Control, Mr Garba Kwamkur, gave the warning when the department visited the popular Gana Street in Maitama on Tuesday.

Kwamkur explained that the objective of the visit was to sensitise business operators on the need to revert all the banks and other commercial hubs to their original allocated locations.

“The department had a week ago served notification to all the buildings that have been converted to commercial use to revert them to the residential purposes but they failed to comply,” he said.

Kwamkur directed the banks and other business organisations to relocate to Central Business District or Idu Industrial Estate which the FCT master plan provided for.

The acting director warned that their business premises would be sealed off at the expiration of the seven days ultimatum.

Meanwhile, Kwamkur, revealed that over 200 hectares of land in the Federal Capital City had been encroached by illegal land grabbers raising unapproved structures around the Lugbe District.

According to him, over 150 criminals have encroached into areas meant for public facilities in the Sabon-Luge area of the district.

“As you are aware the FCT Administration has pronounced that Lugbe will be incorporated into the Federal Capital City proper.So the plan is being incorporated to have the same kind of infrastructure as those in the city.

“This area was planned for public facilities such as schools, markets, hospitals, and other public utilities.

“But land grabbers have now encroached into the area and captured all the plots meant for public facilities and are developing them as housing estates.

“Thereby denying space for the necessary amenities that will be needed for the district in the future,” he said.

Kwamkur added that the department would forward the list of suspected offenders to the FCT Police commissioner to track and prosecute them as specified by the law

March 10, 2021 0 comments
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Maize
Business

Institute urges FG halt exportation of Maize, Soya Beans

by Folarin Kehinde February 24, 2021
written by Folarin Kehinde

The Registrar and Chief Executive Officer, Nigerian Institute of Animal Science, Prof. Eustance Iyayi has urged the Federal Government to stop the exportation of maize and soya bean to reduce scarcity and price increase.

Prof. Iyayi while speaking in Abuja on Tuesday stated that due to the Covid-19 pandemic which has disorganize the international supply chain, lingering insecurity in the north east, farmers/herders conflict and flooding in some part of the country, the livestock industry and particularly, the poultry sector has been severely hit by maize and soyabeans scarcity.

According to Iyayi, maize and soya beans are being exported and this has exacerbated the situation leading to local scarcity and price escalation of the commodities in poultry production.

Furthermore, he stated that increasing prices of the essential commodities has resulted in the increase in price of finished feed about 75% which has led to the closure of small and medium scale size poultry farms whereby threatening about 10 million jobs as a result of this scarcity.

“To set the poultry industry from total collapse, the institute urges the government to immediately halt the exportation of soya bean and maize and grant import permit for them at official and forex rate.’

Read Also: CSO commends Operation Safe Haven over mass arrests of kidnappers, armed robbers, others

“Because there is shortage of soya bean in Nigeria and other countries, the little one we are producing here should not be exported.”

He added that the current maize yield of about 1-2 tonnes per hectare which we currently produce is not going to be enough to sustain us.

“So we have a problem, we cannot continue to produce 1-2 tonnes of maize, when we should be producing 7-10 tonnes per hectare in order to sustain the requirement for human consumption as well as animal consumption.”

Meanwhile, Iyayi advocated that at gazetted grazing reserves in Nigeria be transformed for ranching to mitigate the current farmer/herders conflict in Nigeria.

Iyayi maintained that cow remain a national asset and therefore believe that each production must be sustained in a manner that will ensure good economic returns for the producer as well as supplying quality animal protein for the populace.

“Among other solutions offered by the government, the institute strongly advocate the establishment of ranches as a way of resolving the crisis and ensuring that this national asset is sustained and preserved.”

He added that the National Livestock Transformation Plan is a comprehensive plan and if well adopted and well executed assured that the problem that we are facing will be a forgotten issue.

“Therefore, we must move towards a more sustainable ranching method of cattle production.”

Iyayi further revealed that the current cattle population in the country is about 21 million but believe that if measures are put in place, this can increase within a short time either through improved breeding with less land being utilized or embrace ranching which the institute strongly advocate.

“We are also recommending that all gazetted grazing reserve in Nigeria we believe it is time this assets be transformed into ranches either on the public private partnership or completely private basis.

“We have about 140 of such gazetted grazing reserve in the country, out of a total number of 405 grazing reserves in the country”.

The institute also recommend that government should work with the various chambers of commerce and industry in the involvement of the private sector for operationalization of the ranching and commercial pasture project.

He assured that about 2000 community animal husbandry officers of the institute who are graduate animal scientist will be included to join the pool of experts in the institute in sustainable commercial ranching and livestock production.

“The institute is ready to make its expertise available to the federal and state government in the establishment of ranches and development of high yielding pasture as a measure to solve the lingering crisis and also to sustain our national asset that we have”. He added.

February 24, 2021 0 comments
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Ponzi Scheme
Business

Greedy Investors Lament Loss in P/H as Ponzi Scheme who Promised 50% return disappears

by Folarin Kehinde February 15, 2021
written by Folarin Kehinde

Investors in a new Ponzi Scheme called “MONDELEX” got the shock of their lives on Thursday when they returned to the office to collect return on their investments, and found no one in the apartment.

The MONDELEX office around the Eliozu Flyover Axis of Portharcourt was found under lock and key when they arrived there.The telephone numbers of all the management team of the company also suddenly became unavailable.

According to report, MONDELEX had promised their investors 50% returns on their capital within two days of the investment.

The company was barely a week old in Portharcourt, Rivers State, but it had already gathered over two hundred investors, many of who invested more than two million naira each.

The company only received cash payments from investors, stressing that electronic transactions were restricted.

Meanwhile, most investors invested as high as 2.4 million naira while some were said to have put in about eight million naira.

Some of the aggrieved investors narrated their ordeal to THE WHISTLER.  Jerry Noble said he invested N200,000 and was expecting to come and receive N300,000 when he found out he had been duped.

“On getting here yesterday, I observed everywhere was crowded, I assumed maybe it’s because of the crowd that’s why they locked their office. I tried calling one of their staff I paid my money to, but his lines were off.

“I returned here today to see that the landlord of the place is even evacuating things. When I approached him he told me that the people he gave his property on lease happen to be scammers.”

The landlord of the apartment, one Mr. Benjamin, who responded to journalists questions, said: “I am deeply worried as angry investors have waited here for hours since Wednesday without any staff showing up. Most of the angry and aggrieved investors broke into the office and carted away some of the office equipment.

“Myself, wife and daughter also lost N300k to the scheme as I was deceived by the company when they came to rent my facility.

“When the man came, he said they were running a promotion for a company in town. They brought pictures of refrigerators, fans and generators that people will win. I was highly convinced. I started getting worried when crowd started coming here.

“When the company’s official lines were sent to DSS and tracked, they discovered that the MD and his team were already in Kogi State”.

February 15, 2021 0 comments
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wto
Business

WTO D-G: The world can’t continue to fait for US says Okonjo- Iweala

by Folarin Kehinde February 5, 2021
written by Folarin Kehinde

Nigeria’s former Minister of Finance, Ngozi Okonjo-Iweala has said the World cannot continue to wait for the United States to give a nod to her candidacy as the Director- General of the World Trade Organisation.

Okonjo- Iweala, who in October 2020 emerged as the WTO consensus candidate said this in a tweet via her official handle.

The 67- year old’s reaction comes three months after the US blocked her appointed as the D-G of the largest multilateral trade block.

The former World Bank Managing Director fell out of the favour of the ex- US President, Donald Trump who favoured South Korea’s candidate, Yoo Myung-hee.

Yoo Myung-hee later dropped out of the race in November last year after the ex- finance minister secured 164 votes.

Trump’s move to block the Nigerian was over issues with China as the US has accused the Asian giant of unfair trade practice at the WTO.

But Scott Morris, US former senior official in the US Treasury during the Obama administration had in an opinion on Tuesday published by The Hills called for the Joe Biden administration to join the consensus.

He said, “The question is not whether Okonjo-Iweala alone will be tough on China. It is whether the administration will embrace the consensus pick in a manner that strengthens the U.S. position in this critical multilateral forum, or whether it will carry forward a damaging legacy of the previous administration by snubbing the will of America’s allies.”

The Center for Global Development on Tuesday also supported the opinion put out by Morris on the urgency to address the hanging issue at the WTO.

Okonjo- Iweala reacting said, it was time to support the WTO focus on more important issues bordering the world in the wake of the Covid-19 pandemic.

The ex- Finance Boss said, “Thank you @Morris_ScottA and @CGDev for this timely commentary. WTO is important to global public health  and recovery from the pandemic. Ditto with global economic recovery. Time to support @wto to get to work on important global issues. The world cannot continue to wait.

Okonjo- Iweal who is the current Chair, Board of Gavi, had last month expressed optimism that the Biden administration would join the consensus.

February 5, 2021 0 comments
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