News
Unveiling 20 Richest Men in Nigeria
BusinessNews , a web site owned by Aniekov Nigeria Limited has published the list of 20 richest people in Nigeria with Aliko Dangote of Dangote Group; and Mike Adenuga of Mike Adenuga Group on top of the list.
The website said the list was compiled after taking into account the value of their shares held in quoted companies; the size and market share of their companies; the number of companies they own and its assumed value; the market value of their companies’ brands; and the impact of their companies on the Nigerian economy
Robert Obi, author of the list “today, I will be compiling a list of Nigerian billionaires and top richest people in Nigeria but please this list will be restricted to entrepreneurs only. Politicians and individuals whose source of wealth cannot be traced are excluded from this list.
Most people have asked why so few Nigerians made the Forbes list of richest people in the world. So far, only Aliko Dangote, Mike Adenuga and Femi Otedola Well the answer to that question is this: Forbes estimates the wealth of individuals and rank them based on the value of shares they have in quoted companies (companies listed on the stock exchange) and most of the richest people in Nigeria prefer to run their businesses privately. That’s why they don’t make the Forbes list of richest people in the world” he added.
Apart from Dangote and Adenuga, others ranked are; Femi Otedola – Zenon Oil and Orji Uzor Kalu – Slok Group at number three and four respectively.
Cosmos Maduka – Coscharis Group and Jimoh Ibrahim – Nicon Insurance, Global Fleet made the fifth and sixth position respectively while Jim Ovia – Zenith Bank, Visafone and Pascal Dozie – MTN Nigeria, Diamond Bank occupied seventh and eighth positions respectively.
At ninth is Oba Otudeko – Honeywell Group Nigeria while Alhaji Sayyu Dantata – MRS Group and Umaru Abdul Mutallab – former Chairman First Bank Plc, Mutallab Group came in at 10th and 11th places receptively.
Also on the list are Prince Samuel Adedoyin – Doyin Group at 12th place; Dele Fajemirokun – Chaiman Aiico Insurance, Xerox Nigeria, Chicken Republic, Kings Guards at 13th and Chief Cletus Ibeto – Ibeto Group at 14th.
Raymond Dokpesi – Daar Communication, AIT and Tony Ezenna – Orange Group occupied 15th and 16th position respectively while Chief Molade Okoya Thomas – Chairman CFAO Nig and other six French companies and Ifeanyi Ubah – Capital oil and gas made the 17th and 18th places.
Leo Stan Ekeh – Zinox Computer and Fola Adeola – GTBank were place at 19th and 20th position respectively.
According to the author of the list despite the harsh terrain and business challenges involved with starting a business in Nigeria; the entrepreneurs listed held their ground and fought their way to the top.
“ In a country with a population of over 160 million inhabitants and millions of businesses; these 20 entrepreneurs diligently carved their names in the sands of time Obi said
News
Nigerian Banks Lost over N8Bn to Internet Fraudsters in 2022- EFCC
Economic and Financial Crimes Commission (EFCC), yesterday said that banks in the country lost over N8 billion to internet fraud, otherwise known as Yahoo-Yahoo Boys, in 2022.
Ola Olukoyede, chairman of the commission, also disclosed how Yahaya Bello, former governor of Kogi state allegedly moved a staggering $720,000 from the state account to pay his child’s school fees.
Olukoyede, who made the disclosure during an interactive session with media executives in Abuja, narrated how cyber crime has hurt the companies and its negative effects in attracting direct foreign investment for the country. He lamented that no fewer than 71 percent of companies operating in Nigeria were victims of cybercrime in 2022 even as he argued that the Commission’s war against internet fraud is about safeguarding the country’s future.
“In 2022 alone, I’m waiting for the report of 2023, we discovered that more than 71 percent of Nigerian industries, companies and firms fell victim to cyber crime. Now, which country or company would thrive with this kind of thing? “You want to attract foreign direct investment; the moment you come in, Yahoo boys will attack your platform. You start losing money and you think they would stay?
“Is that not what we are seeing? We are rescuing the future of Nigeria by going into this cyber crime investigation and prosecution.
“Now, within that period, the Nigerian economy lost $706 million (via) these companies through cyber crime, to the activities of these Yahoo Yahoo boys because we don’t take them seriously now, not knowing that we are sitting on a keg of gunpowder.
“The alarming statistics continued with Nigerian banks losing over N8 billion to electronic transfer fraud in the first nine months of 2022.
“A system lost over N8 billion to a particular scheme of fraud and you are asking EFCC to close its eyes to that kind of situation. Are we even fair to ourselves?”
He said the agency is prosecuting two of its operatives for violating the agency’s code of conduct.
He said the commission has made some reforms to enhance its fight against corruption, including the creation of the directorate of fraud risk assessment/control and ethics/integrity.
News
Students Loans’ Beneficiaries to Start Repayment 2 Years after Graduation- NELFUND:
Nigerian Education Loan Fund (NELFUND) has said that students in tertiary institutions and approved vocational centres would start repayment of the loan two years after graduation.
However, NELFUND management specifically stated that the repayment of the loan would commence if the students secured a job or went into business.
Mr. Akintunde Sawyerr, managing director, NELFUND, said the Act specify a moratorium of two years after graduation for the students to begin repayment of the loan.
Sawyerr said if the students start work, his employer would be expected to remit 10 percent into NELFUND dedicated account.
He added: “The loan does not have a specified repayment tenure. It makes it easy for students to apply for the loan. NELFUND would pay according to the documents provided by the institutions. We cannot put tenure on the loan; some will die, drop out, ‘Japa’ or refuse to pay. While those who went into business would pay into same account.
“It is a revolving a loan. We will not put students under pressure to get the loan and we are not going to state a tenure because it is not a commercial loan.’’
According to him, the loan is meant for students in public universities, polytechnics, colleges of education and vocational institutes, who apply via NELFUND portal and are expected to present their JAMB admission letter, NIN and BVN.
He explained that non-students would not have access to the loan and that NELFUND has put the necessary machinery in place to ensure that beneficiaries can be reached when the need arises.
His words: “We are using technology to run the new system. The process of application is online through our dedicated portal and we are limiting human contact as much as possible. Once you have a Bank Verification Number (BVN) and National Identification Number (NIN), which are parts of the requirements, we will have access to your data and all your accounts. This will also help us to know if you are qualified or not,” Sawyerr stated.
The MD disclosed that students already in institution are eligible to apply for the loan at any level of their study and must be at the beginning of each academic session.
He noted that such students would have to provide their admission and matriculation details in addition to BVN and NIN.
Sawyerr added that about 1.2 million Nigerian students in tertiary institutions and government-recognized vocational centres would be among the first batch of beneficiaries and that the figure would increase as time goes on.
The NELFUND boss disclosed that the scheme would be funded from one per cent of the total annual revenue by the Federal Inland Revenue Service (FIRS), which would amount to N194 billion if the agency meets its projection.
Sawyerr observed that the loan would be paid in two segments, the first, being the school fees, which would be paid directly to the institutions while stipend would be paid into students’ account for their day-to-day upkeep.
He added that the amount individual students would access varies because of the course of study, school fees and geographical location of the institutions.
“You don’t start paying back the loan until two years after your National Youth Service Corps (NYSC) scheme and you have secured a job or business. A beneficiary can defer repayment if he has not secured a job, but if after due diligence, he/she defaulted, then the student becomes a criminal and we will work with government agency that can help us get the money back, for example, EFCC, ICPC,” Sawyerr stated.
News
GPA Raises Alarm, Says Malaria Vaccine Can Cause Meningitis
Global Prolife Alliance (GPA), global health organization, has told the National Assembly that the intended malaria vaccine currently proposed by Bill Gates, American billionaire, for Nigeria can trigger meningitis in the populace.
Dr. Philip Njemanze, chairman of GPA, gave the warning in a statement released to newsmen in Owerri, the Imo state capital.
Njemanze, known for being pro-health in the Catholic church, charged the national assembly not to be in a hurry to succumb to the pressure of the bill currently before the house.
He said the vaccine may trigger the deaths of millions of Nigerian children prone to cerebral meningitis, especially in the northern part of the country.
Part of the letter read “Among the side effects is a tenfold increase in cerebral meningitis. Nigeria is endemic for cerebral meningitis. A tenfold increase could cause the deaths of millions of children, especially in northern Nigeria.
“Please intervene and call for a public hearing, for an open public discussion on the pros and cons with expert opinions from both sides. This will help the Nigerian people to be better informed about granting or withholding consent for the vaccination.
“Your intervention could save millions of lives, especially in northern Nigeria, where meningitis is most endemic, particularly at this time of serious insecurity,” Njemanze warned.
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