Author name: NBMA

CBN REVOKES BANKING LICENCE OF HERITAGE BANK WITH IMMEDIATE EFFECT!

12 years after it was established in Nigeria, Heritage Bank PLC has gone under! In 2014, Heritage Bank was reported to have completed an ill-advised acquisition of Enterprise Bank for ₦56 billion, while betting on expanding its retail footprint. Its struggles began in 2018 after years of weak corporate governance led to questionable loan decisions. However, the issued press statement from the Central Bank of Nigeria (CBN) has indicated the revocation of Heritage Bank PLC banking licence The statement reads, ” The Central Bank of Nigeria (CBN), in accordance with its mandate to promote a sound financial system in Nigeria and in exercise of its powers under Section 12 of the Banks and Other Financial Act (BOFIA) 2020, hereby revokes the licence of Heritage Bank Plc with immediate effect. This action has become necessary due to the bank’s breach of Section 12 (1) of BOFIA, 2020. The Board and Management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability. This follows a period during which the CBN engaged with the bank and prescribed various supervisory steps intended to stem the decline. Regrettably, the bank has continued to suffer and has no reasonable prospects of recovery, thereby making the revocation of the license the next necessary step. Consequently, the CBN has taken this action to strengthen public confidence in the banking system and ensure that the soundness of our financial system is not impaired. The Nigeria Deposit Insurance Corporation (NDIC) is hereby appointed as the Liquidator of the bank in accordance with Section 12 (2) of BOFIA, 2020. We wish to assure the public that the Nigerian financial system remains on a solid footing. The action we are taking today reflects our continued commitment to take all necessary steps to ensure the safety and soundness of our financial system “. 186 Views

RuggedMan Releases Micheal Stephens Experiment!

RuggedMan needs little or no introduction in the highly competitive Nigerian music scene. Aside from being one of the music heavy weights that redefined the Nigerian sounds better known as Afropop, the acid-tongued rapper born Micheal Ugochukwu Stephens contributed to the growth of the Nigerian entertainment industry. While his mates might have taken a back seat, Ruggedybaba as he’s fondly called remains a frontrunner, doing shows, creating contents, hosting radio programmes and releasing singles when necessary. However, on June 7th, 2024, RuggedMan’s highly anticipated new EP titled, ‘T.M.S.E” (The Michael Stephens Experiment) will be released. The four-track T.M.S.E’ marks another milestone in RuggedMan’s illustrious career, showcasing his evolution as an artiste and his continued commitment to delivering high-quality music. “T.M.S.E” features collaborations with some of the industry’s brightest talents like Jesse Jagz, Eva Alordiah and Mista Styles (formerly Freestyle of Trybesmen). The four tracks include ‘Og’, ‘One man’ ft MCdow, ‘Gara’ and ‘Found Love’. The track “OG,” a standout single is expected to be a fan favorite, blending powerful lyrics with captivating beats that reflect RuggedMan’s unique style and versatility. A graduate of Political Science from Lagos State University (LASU), Ọ̀jọ́, RuggedMan began his journey in music in 1999. He quickly made a name for himself by producing his own songs and releasing two well-received tracks that year. Over the years, RuggedMan has solidified his position as a leading figure in the Nigerian music scene, becoming the most featured rapper in Nigeria. His albums, all released under his personal label, Rugged Records, have consistently topped charts and won numerous accolades. Beyond his music career, RuggedMan is also known for his role as the host of the prestigious NB Plc sponsored Star Quest Reality TV Talent Show, which he hosted from 2009 to 2011. ‘T.M.S.E’ will be available on all major streaming platforms, including Spotify, Apple Music, and YouTube. For those seeking exclusive content, there will be special releases available via email. Fans are encouraged to subscribe to RuggedMan’s mailing list for these exclusive updates at www.iamruggedman.com Pre-save the EP today at https://empire.ffm.to/themichaelstephensexperiment and be the first to experience RuggedMan’s groundbreaking new work. 345 Views

Femi Adebayo Reacts As Court Awards Him 25 Million Naira In Copyright Case.

Ace film actor cum Producer Femi Adebayo has been awarded a sum of ₦25million in a lawsuit that involves his company and an unnamed YouTube content aggregator! In case you missed it, the said YouTube Channel was reported to have overlay promotional materials of Femi Adebayo’s 2019 theatrical movie titled, “Survival of Jelili” to hoax audiences into believing they were watching the actual film. This deception boosted the views of another YouTube title that earned unaccounted revenue streams over a period of time. Reacting to the court judgement, Femi Adebayo wrote on his X page, ” The Nigerian film industry has experienced exponential growth over the years, but we haven’t been able to maximise the true dividends of this business because of dare devil pirates who benefit where they didn’t sow. This is a major reason why investors find it hard to commit their funds to filmmakers. However, through persistence and the use of the legal framework covering intellectual property, we can bring their activities to a gradual halt. Several times, I have been a victim of movie pirates and I never spare them. I recently concluded a legal battle with a notable media company that owns a big radio station and also engages in youtube content distribution. During the cinema run of “Survival of Jelili” in 2019, my movie was gathering good numbers at that time. They decided to use my movie poster and title to promote a movie on their platform, thereby deceiving fans and diverting revenue accrued to me. It took 3 years, but my trust in the legal and justice system remained unwavering. With the dedication of our legal team, Bola Adebowale & Co Legal Practitioners, who are seasoned professionals with a wealth of experience in handling such cases. They presented undeniable evidence, put up a strong argument, and took the case to trial. Their promptness, efficiency, and attention to detail played a huge part in the direction of the case. We won and were awarded a total of Twenty Five Million Naira. This isn’t just my win as a filmmaker and content producer but a win for all of Nollywood. We need to be ready to fight IP theft and piracy at all levels. Every win brings us closer to protecting and getting the true economic value of our works”. #saynotopiracy 281 Views

List of Ex-Govs Under Investigation for Alleged Corruption Not From EFCC

The Economic and Financial Crimes Commission, EFCC, has dissociated itself from a phantom report circulating in sections of the media claiming it has released a full list of ex-governors being investigated for alleged corruption. In a recently released press statement, EFCC said, “the report headlined: “EFCC Releases Full List of 58 Ex-Governors that Embezzled N2.187 Trillion”, in one of the news outlets, is false and mischievous as the Commission neither issued the said list nor entertained discussions on investigation of ex-governors with any news medium. This invariably means that the so-called list is a disingenuous fabrication designed to achieve motives known only to the authors. The public is enjoined to ignore the report as it is false and misleading. The media is advised to endeavour to crosscheck facts pertaining to matters under investigation with the Commission to avoid misleading the public with false and inaccurate reports” . 351 Views

“The Devil came to steal my testimony” : Lady Accused Of False Testimony Replies Pastor Eneche

Anyim Vera, the lady who was accused of giving false testimony by the Senior Pastor of Dunamis International Gospel Centre, Abuja, Paul Eneche, on Sunday, April 14, has taken to her Facebook page to clear all doubts. Speaking via her Facebook page on Monday, April 15, Vera said she was disgraced and labelled a liar by her spiritual leader just because she couldn’t speak English and mistakenly said B.Sc instead of LLB. She further stated that she graduated with a 3rd class from NOUN and was no. 2262 on the list of graduates from the school. She wrote: “It’s disheartened because I couldn’t speak English like lawyers. I was labelled a liar for mistakenly saying B.Sc instead of LLB. Actually, I graduated with a Third Class at NOUN. “The rejected stone can become the cornerstone. We’re reminded not to look down on anyone. U can’t imagine what I endured throughout the service. How shattered I must have felt to be disgraced by my spiritual leader in such a manner? “I am no. 2262 on the list. I Vera deserves better now” In another post, she wrote: “The Devil came to steal my testimony but Jesus said NO!” A photo on her Facebook page suggests she is a policewoman as she was seen adorned in their uniform. You may recall that on Sunday, April 14, Vera came on the altar to share her testimony of how God made her the “only graduate in her family” adding she graduated with a “BSc in Law” from the National Open University of Nigeria. While giving her testimony, Pastor Eneche asked what degree she graduated with and she said ‘’Law”, he asked further, what kind of Law degree, and the lady answered ‘BScc in Law” after which he accused her of lying. 409 Views

Court Sends Bobrisky To Jail For Naira Abuse

Justice Abimbola Awogboro of the Federal High Court, sitting in Ikoyi, Lagos, on Friday, April 12, 2024, sentenced Idris Okuneye, a.k.a Bobrisky, to six months imprisonment over mutilation of the Naira notes. He was arraigned on Friday, April 5, 2024, on a four-count charge bordering on mutilation of the Naira notes to the tune of N490,000,00 (Four Hundred and Ninety Thousand Naira). He pleaded “guilty” to the charges when they were read to him. Delivering judgment , Justice Awogboro held that “  The act of mutilating the Naira notes has become a menace, which has continued to damage the image of the country. “Enough of people mutilating and tampering with our currencies. It has to stop. His will serve as a deterrent to others.” The Judge, therefore, sentenced him to six months imprisonment, without an option of fine, from the date of his remand. 374 Views

Bobrisky In Soups As EFCC Grills The Crossdresser For Naira Abuse!

Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, have commenced investigation of Idris Okuneye, a.k.a Bobrisky, for allegedly spraying Naira notes. The EFCC had invited the 31-year-old following a video report of spraying and flaunting wads of new Naira notes at the premiere of a movie, Ajakaju, produced by Eniola Ajao, a Nollywood actress and producer, at Film One Circle Mall, Lekki, Lagos on March 24, 2024. The investigation also revealed that he had also committed the alleged offence at some other event centres and parties at different times. Following the invitation by the Commission, he arrived at the Lagos Zonal Command of the EFCC on the morning of Wednesday, April 4, 2024, for interrogation and volunteered his statements. He will soon be charged to court upon conclusion of investigations. 427 Views

BINANCE EXECUTIVE ESCAPES FROM LAWFUL CUSTODY WITH SMUGGLED PASSPORT!

The Office of the National Security Adviser has confirmed that a Binance executive, Nadeem ANJARWALLA, a suspect in the ongoing criminal probe into the activities of Binance in Nigeria escaped from lawful custody on Friday, 22 March 2024. Upon receiving the report, ONSA said it has taken immediate steps, in conjunction with relevant security agencies , MDAs, as well as the international community, to apprehend the suspect. Security agencies are working with Interpol for an international arrest warrant on the suspect . Preliminary investigation shows that Mr Anjarwalla fled Nigeria using a smuggled passport. The personnel responsible for the custody of the suspect is said to have been arrested, and a thorough investigation is ongoing to unravel the circumstances that led to his escape from lawful detention. Recall that the Federal Government of Nigeria, like other governments around the world, has been investigating money laundering and terrorism financing transactions perpetrated on the Binance currency exchange platform. Until his escape, Nadeem Anjarwalla, who holds British and Kenyan nationalities and serving as Binance’s Africa regional manager, was being tried by Nigerian courts. The suspect escaped while under a 14-day remand order by a court in Nigeria. He was scheduled to appear before the court again on 4 April 2024. ONSA urge the Nigerian public and the international community to provide whatever information they have that can assist law enforcement agencies to apprehend the suspect. 279 Views

16 MILITARY PERSONNEL ON PEACE MISSION KILLED IN DELTA STATE

The troops of 181 Amphibious Battalion, Bomadi Local Government Area of Delta State While on peace mission to OkUOMA community in BOMADI LGA of Delta State were surrounded by some community youths and killed on Thursday, 14 March, 2024. The unfortunate incident occurred when the troops responded to a distress call after the communal crisis between the Okuama and Okoloba communities both in Delta State. The reinforcement team led by the Commanding officer was also attacked, leading to the death of the Commanding officer, two Majors, one Captain and 12 Soldiers. The Chief of Defence Staff ( CDS), General Christopher Gwabin Musa has has directed the immediate investigation and arrest of those involved in the heinous crime. The occurrence has been reported to the Delta State Govt. So far, a few arrests have been made while steps in place to unravel the motive behind the attack. 239 Views

Kidnappers Of Emure School GirlsArrested

Suspected abductors of the pupils and staffers of Apostolic Faith Group of Schools, Emure Ekiti in Ekiti State, have been apprehended by the operatives of the State Police Command. Parading the suspects before journalists on Friday evening at the Command headquarters in Ado Ekiti, the Police said one of the suspects, who are nine in number, was shot dead as the gang engaged Policemen in a gun duel. On 8/02/2024 at about 1300hrs, the Command Rapid Response Squad (RRS) received a credible tip-off that a gang of armed men has invaded a farmland at Eda-Oniyo-Ekiti and were planning to kidnap some Expatriates in Dairy Farmland, Ikun-Ekiti. Upon receipt of the information, a team of RRS operatives swung into action and arrested one ABUBAKAR ALIYU a.k.a SMALLIE who was on a mission to spy on the actual location of the Expatriates. After the arrest of Abubakar Aliyu a.k.a SMALLIE, the leader of the kidnapping gang identified as one Sumo Karami sent two (2) vigilante members, one Saliu Ibrahim and Umaru Saliu, to secure the bail of the arrested gang member from Police custody. The two (2) vigilante members were arrested and they led the RRS operatives to Oro-Ago town where one Mohammed Bashiru, the leader of Miyetti Allah vigilante in Oro-Ago, Kwara State, was arrested. During interrogation, Mohammed Bashiru revealed that he is a relative of Sumo Karami who is a leader of a dreaded kidnapping gang and that Abubakar Aliyu a.k.a SMALLIE is one his gang members who have been terrorizing and kidnapping innocent citizens with AK47 rifles and other dangerous weapons. Initial investigation revealed that Sumo Karami and his gang members were responsible for the kidnapping of the Pupils and their Teachers in Emure-Ekiti on 29th January, 2024. Meanwhile, the phone used to demand for ransom for the release of the Pupils and the Teachers was recovered from the suspects and effort intensified led to the arrest of two (2) among the gang members, namely: Yahaya Jubril and Usman Garba in Owo forest, Ondo State. Further investigation led to the arrest of one Kenneth Ugwu in Ibadan, Oyo State, on 14/02/2024. The suspect, during interrogation, confessed to be a member of a kidnapping syndicate who kidnapped 5 Pupils, three (3) teachers and a driver in Emure-Ekiti who was allegedly killed by the kidnappers. The suspect led a team of RRS operatives to the kidnapper’s hideout inside Agric Reserved Forest between Ise-Ekiti/Emure-Ekiti. On sighting the Police, the armed hoodlums engaged the team in a gun duel. In the process, one of the gang members who was later identified as AYUBA was neutralized, one Abubakar Mohammed a.k.a Smallie was captured alive while other gang members escaped through the forest.Investigation revealed that the syndicate was responsible for the kidnapping of one Paul Omotosho, the APC Chairman, Ekiti State, along Agbado/Imesi, Ekiti road on 08/07/2023, the kidnapping of Mr. and Mrs. Awoniyi along Ikere/Itaogbolu road in the month of January this year and the kidnapping of teachers and pupils of Apostolic Faith Secondary School, Emure-Ekiti on 29th January, 2024. EXHIBITS RECOVERED: i. One (1) AK 47 assorted rifle, ii. One(1) pump action gun loaded with five (5) lives cartridges, iii. Twenty-one (21) AK47 live ammunition iv. Expended shells of AK-47 ammunition. v. One (1) face-mask vi. One (1) Nose mask vii. Two (2) pairs of hand glove viii. Twenty (20) different handsets ix. One (1) National ID Card bearing Salisu Mohammed x. Two (2) MTN sim card xi. One (1) airtel sim card 242 Views

EFCC Raises Special Task Force against Dollarization of Economy & Mutilation of Currency

The Economic and Financial Crimes Commission, EFCC, has raised a Special Task Force in all its Zonal Commands for the enforcement of extant laws against currency mutilation and dollarization of the economy. The Task Force, inaugurated by the Executive Chairman of the Commission, Ola Olukoyede, was raised to protect the economy from abuses, leakages and distortions exposing it to instability and disruption. Already, the Commission has made some arrests of perpetrators of issuance of invoices in dollars and mutilation of the Naira in Lagos and Port Harcourt. Also, proprietors of private Universities and other institutions of higher learning charging fees in dollars have been invited by the Commission. The Commission is committed to the enforcement of all laws in place for the reflation and stimulation of the economy. 231 Views

Fake Ghost Scammer Arrested In Adamawa

Adamawa state Police Command revealed that it has arrested a 59 years old Man who specializes in defrauding Members of the public in a disguised manner. The suspect, Muhammad Abubakar a.k.a Malam Sabo who was arrested yesterday is said to be a habitual 419. Mostly, the suspect hides his identity, pretending to be a Ghost, talking to his Victims with different voices. The suspect, at times changes his voice sound to that of a woman or a child to dupe his victims. Recently he tricked and duped one Abba Bale of Demsawo of the sum of three Hundred thousand (N300,000.00 221 Views