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Notable Nigerians, Big Firms Fall for Alleged Diongoli’s N3.7Bn Scam

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Court papers have revealed  that a leading telecommunications company’s Employers Cooperatives, FSL Securities and Professor Onyekachi Green Nwankwo and some many others are victims of N3.7billion Ponzi scheme allegedly masterminded by Michael Ukiye Diongoli’, a Nigerian businessman.

Notable Nigerians, Big Firms Fall for Alleged Diongoli's N3.7Bn Scam

Diongoli and his two companies UK-DION GROUP and UK-DION INVESTMENT are now facing trial at the Federal High Court in Lagos.

The trial has been adjourned till 27 October.

Court papers showed that Professor Onyekachi Green Nwankwo lost N69.8millioon to Diongoli.

FSL Securities lost N200million, MTN Employers Cooperative N50million.

The biggest losers were Dr.Charles Ejekute-Obi who was swindled of N345 Million, Tedaki Events, which lost N232 Million and one Obieme Adaku Kate who lost N205 Million.

Other victims of the scam were Dr. Basil Onugu-N11Milion, Elizabeth Umenwa Nwankwo-N25million,Chinyere Ogujeiofor -N24 million, Nnenna Ikubogh N30 Million,Elizabeth & Anthony Ventures N100million.

Also swindled were Catholic Charismatic’ Renewal lost N11.5 million, Colonel T.Chukwu(retired) N31Million, Professor Iloeje Casmir-N109 Million, Nigerian Army Welfare Insurance Scheme- N50 Million, Olufemi Akinyemi-N85 Million.

Sometime in June this year Micheal Ukiye Diongoli and his two companies, UK- Dion Group and Uk-Dion Investment Limited were arraigned before the court on 61 count charge of defrauding many Nigerians and organisations to the tune of N3.7billion.

The 61 count amended charge number FHC/L/338/2022,filed before the court by Ezema Susan, the Police prosecuting counsel of Force Criminal investigation Department Annex Alagbon Close, alleged that Micheal Ukiye Diongoli and his two companies and others at large, posed as financial institutions.

Between 2021 and 2022, with intent to defraud, they conspired among themselves to obtain monies from Nigerians under the pretext that they are registered financial institutions and wealth managers.

Customers were invited to pay money into their accounts on a fixed deposit system for a period of six months to one year and the customer will get the money invested with interest.

The prosecutor said the defendants knew the claims were false, breaching section 8(a) of the Advance Fee Fraud and other Fraud related offences Act, 2006.

It was also alleged that the defendants fraudulently issued cheques, for various sums of money, for the settling of their indebtedness.

All the cheques were returned unpaid, thereby committing an offence contrary to section 1(1)(b) of the dishonored Cheques (offence) Act Cap D11 Laws of the Federation 2004 and punishable. Under section 1(b)(1) of the same Law.

Diongoli and his two companies are currently on bail.

 

Credit: PM News

 


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Adeleke Describes Adenuga’s Contribution to African Economy as Unquantifiable

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Senator Ademola Adeleke, the Osun State Governor, has described the Chairman of Globacom, Dr. Mike Adenuga, Jr., as an icon who has made enormous contributions to the development of Nigeria and Africa.

Speaking when he received the Public Sector team from Globacom in his office at Osogbo recently, the governor also commended the positive impact the company has made in the telecoms industry in terms of innovation and pricing.

He described Dr Adenuga as a great believer in Nigeria “whose impact on the Nigerian and the African economy cannot be quantified”.

Adeleke assured the Globacom team led by Niyi Odejobi of his government’s readiness to explore areas of business partnership with the company. “Be rest assured that this partnership is already a reality. We just need to work out the details”, Senator Adeleke noted.

He urged telecommunications companies to strengthen ties with the state government, adding that “the subnational entities are where your market is. Even though the regulatory body is national, your market base remains the states and the local governments. You must deliberately prioritize partnership with the state government.

“The telecom community must understand that giving full support to the states in terms of payment of right taxes and corporate social responsibility is an investment in your market. The more robust the state governments are, the more buoyant your market will be,” the governor said.

In his own remarks, Odejobi pledged Globacom’s support for the growth and development of Osun State, adding that it would deploy various internet and digital infrastructure to promote governance and businesses in the state.


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Foodstuff Store introduces Innovative Recycling Program

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Foodstuff Store, an AgriTech company on Wednesday announced the introduction of its innovative recycling program. The expansion of the corporate mission to include waste management and recycling solutions underlines the company’s commitment to sustainability and environmental responsibility.

Foodstuff Store is providing a way by which their customers who are provided with wholesome and fresh food products directly from farmers can now dispose of their plastic wastes as an added service, thereby reducing their ecological footprint.

For every waste item delivered for recycling by customers, they’ll receive a credit that can be used for a next purchase at the Foodstuff Store.

Not only will this ensure a contribution to a cleaner environment, but it will also provide a way to incentivise their efforts towards adopting sustainability practices.

“We are thrilled to offer our customers a convenient way to recycle and contribute to a cleaner Nigeria and a cleaner planet,” says Diana Tenabe, Chief Operating Officer at Foodstuff Store. “By offering rewards for recycling, we hope to incentivize eco-conscious behavior within our communities in Nigeria.”

Nigeria faces a significant challenge with plastic pollution. The prevalence of single-use plastics, which is caused by widespread use of sachet water pouches, plastic shopping bags, and take-away containers, leads to massive waste generation. There are also recycling capacity challenges in Nigeria, where only a small percentage of plastic waste gets recycled.

Additionally, indiscriminate disposal of plastics and other waste materials contributes to overflowing landfills with plastics, clogged drainages that lead to flooding, and harming marine life.

Foodstuff Store believes that by working together with its customers, it can create a positive impact on the environment. This new program allows customers to enjoy the quality products and services they expect from Foodstuff Store, while also contributing to a more sustainable future.


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Edenlife Opens the first Homemade Outlet Store in Oniru, to open 49 more Across the Country 

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Homemade by Eden, the food retail business of Nigerian home concierge startup, Edenlife has marked a significant step towards National expansion with the launch of its first Outlet store in Oniru, Lagos State. This move signals the company’s commitment to bringing its signature homemade meals directly to consumers across the country.

Commenting on the launch of the Oniru Outlet, Nadayar Enegesi, CEO of Edenliife stated, ‘’At Eden Life, it’s in our DNA to adapt and meet the evolving needs of our consumers.

The new outlet store by Homemade exemplifies this commitment. These outlet stores will deliver delicious, home-cooked meals to its customers and create job opportunities in logistics and tech support, driving local economic growth.

By sourcing fresh ingredients from smaller Nigerian farms, we strengthen the agricultural sector and ensure a reliable supply chain. And there’s more to come we have plans to launch mobile kitchens in other strategic locations across the nation.

It’s a win-win situation – our customers enjoy a taste of home, we create jobs, empower local businesses, and contribute to a stronger Nigerian economy.’’

The establishment of these outlet stores translates to new job opportunities in logistics and potentially tech support for the mobile units. Additionally, the focus on fresh, local ingredients could encourage partnerships with smaller Nigerian farms, strengthening the agricultural sector and supporting local food production.

This localized approach to food delivery keeps money circulating within communities and fosters a more sustainable economic ecosystem.

Speaking at the launch event on Friday, May 10, 2024, Orafiri Adoki, Business Lead of Homemade stated that some of Nigeria’s food culture has not been fully explored.

She stated, “Nigeria has such a rich culture around food, which has not been explored to its maximum. So, with the launch of the Homemade outlet, we hope to introduce some of the meals Nigerians are used to at home while providing creative and innovative ways to enjoy these meals,” .

As Nigeria’s e-commerce sector continues to evolve, Eden Life’s innovative approach positions the company as a frontrunner in driving industry growth and reshaping consumer expectations. By providing a seamless omnichannel shopping experience, Edenliife not only captures market share but also cultivates meaningful connections with Nigerian consumers.

Nigeria’s e-commerce industry has been experiencing a boom in recent years, driven by factors like increasing internet penetration, smartphone adoption, and a growing young population. The e-commerce market in Nigeria is estimated to be around USD 8.53 billion in 2024.

It is expected to grow at a compound annual growth rate (CAGR) of 11.82% during the forecast period (2024-2029), reaching approximately USD 14.92 billion by 2029. E-commerce is expected to continue its strong growth trajectory in Nigeria, presenting immense potential for e-commerce platforms like Edenlife to capitalize on the rising demand for convenient and affordable food options.


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