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COVID-19: Rotary Club Pledges to Assist Lagos, Others Distribute Palliatives Equitably
The president of Rotary Club of Ikeja South has pledged to use its network to help the Lagos State Government, individuals and corporate organizations deploying all manner of palliative measures, whether in cash and kind to ameliorate the effect of the Coronavirus Disease lockdown in the country.
Michael Effiong James, President, Rotary Club of Ikeja South, made this disclosure following the spate of protests and anger over the poor and inequitable distribution of palliatives by government officials and others.
James noted that about 80 per cent of the over 100 clubs in District 9110 are located in Lagos State and they can mobilise their extensive network and know-how to help the government fight this pandemic as well as touch people’s lives.
According to the Rotarian, who is also a journalist and the Editor, Ovation International Magazine: “I was in tears as I watched the good intention of Governor Babajide Sanwo-Olu to provide succour to Lagosians in form of palliatives being rubbished by poor execution, and it occurred to me that Rotary can actually help to right this wrong.
“Rotary is an organisation of professionals, who, as volunteers, are committed to the service of humanity, and, therefore, would be able to use their knowledge of needs assessment, project siting, project monitoring and closeness to the communities to good effect.
“In addition, its time-tested record of probity as a result of the application of the 4-Way test has made Rotary an organisation that is trusted worldwide, which is reason it holds the highest consultative status at the United Nation’s Economic and Social Council, which oversees many UN agencies.
“In Rotary, we have a wide range of professionals, from medical doctors to nurses, lawyers to engineers, these are not greedy or hungry people, but Nigerians who are genuinely passionate about putting smiles on people’s faces, so this is a situation that they are best equipped to handle.
“They also have partnered with governments and individuals successfully in the past and see no reason that Governor Sanwo-Olu and Rotary International District 9110 Governor, Rotarian (Dr.) Jide Akeredolu cannot join forces.
“That is not all. Due to Rotary’s experience with Polio eradication, its huge data bank of facts and figures may actually help the Ministry of Health and the Nigerian Centre For Disease Control in the area of contact tracing and enlightenment.”
Rotarian James also used the opportunity to call on residents of Lagos and Nigerians in general to adhere to the instruction of hand washing for at least 20 seconds, social distancing, cleaning of hard surfaces around their homes and most importantly staying at home.
He said these measures, difficult as they may seem, will help to flatten the curve, stop the spread of the virus, save more lives and enable us return to our normal day-to-day activities in good time.
He revealed that Rotary International has encouraged clubs to intervene in the fight against COVID-19 and while some have already done theirs, Rotary Club of Ikeja of South and others, are fine-tuning plans to embark on impactful intervention projects as contribution to the global effort.
Xora Finance has announced it will no longer consider job applicants from Nigeria.
Xora Finance is a digital bank founded by Joren Lundgren, in February 2026 and allows users to deposit and earn interest on their XRP cryptocurrency.
Lundgren, founder, in an announcement on X (formerly Twitter), cited an ongoing pattern of misconduct, such as dishonesty and theft, from previous Nigerian hires as the reason for the decision.
This sudden blanket ban came just days after the company’s official career page was aggressively recruiting remote workers for marketing and content roles.
The announcement generated heavy backlash online, with many people upset that a blanket rule punishes honest job seekers.
Some lawyers have said that victims of Ponzi schemes have legal remedies, although recovering lost funds and prosecuting perpetrators remain major challenges.
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new participants rather than from actual profits.
Operators lure victims by promising high returns with little to no risk.
The scheme inevitably collapses when the flow of new investors slows down.
Some lawyers who spoke to News Agency of Nigeria (NAN) separate interviews with on Sunday, said that victims could pursue civil actions to recover their money.
Mr Chibuikem Opara, a lawyer at Justification Chambers, Ikeja,said many Nigerians continued to fall victim to Ponzi schemes in spite of repeated warnings.
Opara said it was wrong to attribute participation in Ponzi schemes to a lack of investment opportunities, noting that promoters often exploit investors’ greed through promises of unrealistic returns.
“What you cannot take away is the fact that many Nigerians have fallen and continue to fall victim to these schemes every time,” he said.
According to him, victims may individually or collectively institute civil actions against the beneficiary company for breach of contract or refund arising from failure of consideration.
Opara said victims could also unite to seek an order from the Federal High Court to wind up the beneficiary company.
He, however, noted that such efforts might yield little benefit if perpetrators had already siphoned the funds and left behind an empty shell.
The lawyer said available remedies largely depended on the actions of relevant authorities, adding that recipient accounts could be frozen to facilitate fund recovery and support winding-up proceedings.
Opara said regulators and law enforcement agencies often became aware of Ponzi schemes only after substantial losses had occurred.
According to him, victims frequently failed to report suspicious schemes early enough to enable timely intervention.
He added that funds are sometimes moved outside the country before authorities become aware of the fraud.
Opara also cited inadequate information and the deceptive nature of the schemes as major obstacles to investigation and prosecution.
“Most times, everything about the schemes is made to appear elusive, just like the profits promised to victims,” he said.
Also speaking, Mr Vincent Aminu of A.F. Aminu and Co. advised that victims of investment scams should report such cases to appropriate law enforcement agencies on time.
Aminu said victims could petition the Economic and Financial Crimes Commission (EFCC) or file reports with the police.
He said that after investigation, prosecutors could bring charges against suspects under relevant fraud-related laws, including provisions of the Criminal Code and the Advance Fee Fraud and Other Fraud Related Offences Act.
Beyond criminal prosecution, Aminu said .victims could pursue civil actions to recover their money
According to him, such actions may be based on breach of contract, unjust enrichment, or fraudulent misrepresentation, depending on the circumstances.
He added that victims could petition the Securities and Exchange Commission (SEC), which could investigate illegal operators, shut down unauthorised platforms, and freeze assets.
He identified the anonymity of online fraudsters as one of the biggest challenges confronting investigators.
According to him, many operators concealed their identities through fake digital profiles and technologies that made tracking them difficult.
Aminu also noted that victims who delayed taking legal action risked losing opportunities for redress.
He added that prolonged court proceedings often delayed justice for victims.
“Many fraud-related cases take years before the court reaches a verdict, thereby delaying justice for victims,” he said.
Also, Mr Chris Ayiyi of Ayiyi Chambers, Apapa, described Ponzi schemes as a gamble that benefited early participants at the expense of later investors.
Ayiyi said some early entrants received returns on their investments, thereby encouraging others to join the schemes.
He said the schemes eventually collapsed, leaving late investors to bear the losses
The lawyer called for a complete ban on Ponzi schemes or sustained public enlightenment campaigns against them.
He urged the National Assembly to enact laws that would strengthen regulation and provide greater protection for investors.
According to him, stronger legal safeguards are necessary in a country operating a capital-based economy.
PalmPay Group (“PalmPay”), a multinational fintech company providing digital financial services across high-growth emerging markets, is pleased to appoint Samuel Oluyemi as Chief Operating Officer (“COO”) of its Nigeria practice, effective immediately.
The appointment comes at a pivotal moment for PalmPay as it looks to reach more underserved communities and continuously strengthen the reliability and security of its services. It also comes as Nigeria’s broader financial services sector continues to modernize, bring millions more Nigerians into the formal financial system, and strengthen the cybersecurity and fraud-prevention standards that underpin public confidence in digital payments.
As COO of PalmPay Nigeria, Mr. Oluyemi will oversee PalmPay’s Nigerian operations — where the company provides a full suite of digital financial services to individuals and businesses — and communicate with regulators to ensure the company’s growth happens harmoniously with the country’s financial, digital, and social inclusion goals.
Mr. Oluyemi brings more than two decades of experience at the Nigeria Inter-Bank Settlement System (“NIBSS”). During his tenure as the Business Development Lead, he championed the development of key national payment services — including the Digital Validation of Nigerian International Passport (e-Passport Validation), Electronic Dividend Mandate Management System (“e-DMMS”), and the Electronic Pensions Contribution Collection System (“EPCCOS”) — and played a pivotal role in introducing and driving early adoption of NIBSS Instant Payment (“NIP”), Nigeria’s first online, real-time, inter-bank transfer system in 2011 and its subsequent extension to the Other Financial Institutions (“OFI”) segment of the Nigeria Payments System.
He holds an MSc in Monetary Economics from the University of Ibadan with extensive local and international professional training.
“Samuel joins PalmPay at an important stage in our journey to strengthen the foundations that will support our long-term goal of driving financial inclusion,” said Chika Nwosu, Managing Director of PalmPay Nigeria. “His extensive experience makes him well positioned to help us scale sustainably while maintaining the operational discipline, governance and customer-first culture that define PalmPay.”
“PalmPay has established itself as one of the most impactful fintech companies in emerging markets by making financial services more accessible and affordable for millions of people,” said Mr. Oluyemi.
“I am excited to join the company and look forward to working alongside an exceptional team to strengthen operational excellence and support PalmPay’s vision of building a leading digital financial services platform. Together, we will continue delivering secure, reliable, and customer-focused financial solutions while contributing to the continued evolution of Nigeria’s digital financial ecosystem.”
As Nigeria’s digital financial services sector continues to mature, this appointment reflects a broader commitment guiding PalmPay across all markets it serves: building financial services that are secure, reliable, and effective enough to earn a permanent place in people’s everyday lives.
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