money
Nas Hits The Crypto Jackpot Thanks To Coinbase Investment, Celebrates Financial Win On Twitter
HipHopWired Featured Video Source: Bernard Smalls / @PhotosByBeanz83 The only rapper who can honestly say they “ethered” JAY-Z in a battle is now celebrating a huge financial victory. Quietly Nas has been building quite the investment portfolio through his venture capital firm QueensBridge Venture Partners. One of those investments recently has proven to be a very lucrative one for the “One Mic” crafter. On Wednesday (Apr.14), Coinbase Series B went public on the NASDAQ stock exchange with a share price of $381. Nas’ QueensBridge Venture Partners reportedly dropped a large investment in the Coinbase Series B to the sum of $100,000 and $500,000. It is now the largest cryptocurrency exchange in the United States. CoinDesk broke down purchase and reports that at the time, the share price was ...
RCCG apologises to minister over Osun road project
File Photo Minister of Works and Housing, Babatunde Raji Fashola (SAN), on Thursday, dismissed alleged payment of N151million to a firm for a road rehabilitated by the Redeemed Christian Church of God (RCCG) in Osun State. Fashola in his submission before the Senate Committee on Ethics, Privileges and Public Petitions, probing the allegation, said the claim by the church was untrue. He said the 15-kilometer road was awarded to Messrs Cartil Construction Nigeria Limited at the cost of N662.7million by the Federal Government in 2011. He said the Ministry paid N99million as 15% mobilisation fee and N52million to the contractor after the firm achieved 26.2 per cent of work done on the road in March and December 2011, respectively. He insisted that the award of the contract and the subsequent p...
EFCC hands over recovered N67.5 million to victim in Enugu
YouTube The Economic and Financial Crimes Commission (EFCC), has restituted the sum of N67,523,000 to one Mr. Emmanuel Onyekachukwu Onah, a trader based in Onitsha, Anambra State. EFCC spokesperson, Wilson Uwujaren, said Onah’s ordeal started sometime in 2019 when he transferred the sum of N75,760,540.00 to the duo of Tega Esinone and Obiajulu Umeagukwu for onward transmission to his business partner, Crecedor Industrial Co. Ltd in Hong Kong. The suspects converted the money to their own use. After efforts to recover his money from the suspects failed, Onah petitioned the EFCC. The commission in the course of investigating the scam, initiated a non-conviction based forfeiture process which culminated in a December 1, 2020 ruling by Justice I.N Buba of the Federal High Court, Enugu, orderin...
Official: TETFund spends N120 billion on academic staff training since 2008
Academic Staff from public institutions across the country have so far accessed over N120 billion for training, within and outside Nigeria, from the Tertiary Education Trust Fund (TETFund) since its inception in 2008. The Chairman, Board of Trustees of TETFund, Alhaji Kashim Imam, disclosed this on Wednesday when he led a delegation of the fund to the University of Maiduguri (UNIMAID) on an assessment visit. Imam said for 2021 alone, the fund was investing N25 billion on academic staff training and development. Imam said the team was in the university for a verification visit and to assess the impact of the training programmes, through interaction with management and beneficiaries. He noted that the fund had to suspend the sponsorship of academic staff attending international conferences, ...
US company mistakenly deposits $1.2 million into woman’s account
It’s not quite the nearly $1 billion blunder that Citigroup Inc. made last summer, but Charles Schwab Corp. said it accidentally sent more than $1 million dollars to the Fidelity Brokerage Services account of a woman in Louisiana. Schwab blamed an “issue created by a software enhancement” for erroneously transferring $1.2 million in February to the Fidelity account of Kelyn Spadoni, rather than the $82.56 she had requested, according to a lawsuit filed in federal court in New Orleans last month. When the company realized the mistake and attempted to take the money back, it was gone and Spadoni wasn’t answering her phone, the bank said. Spadoni, 33, of Harvey, Louisiana, was arrested earlier this week and fired from her job as a 911 dispatcher, nola.com and WVUE-TV reported, citing the Jeff...
Rivers governor: I haven’t touched one kobo of council funds
Rivers Governor Nyesom Wike has boasted his administration has not touched one kobo belonging to the local government areas. Wike insisted since the council chairmen had their allocations and other revenue in full, they had no reason not to perform. The Governor said his administration had vigorously addressed security challenges in the state to enable all council chairmen deliver dividends of democracy to people at the grassroots. He spoke at the Peoples Democratic Party (PDP) Local Government election grand finale rally in Obio/Akpor Local Government Area at Oginigba Primary School Field on Tuesday. He said: “The state government has provided the enabling environment for every local chairman in the State to perform. Since the inception of this administration, the State government has not...
Analysts: Printing currency could hurt economy
Analysts have expressed concerns over a recent claim that the federal government resorted to printing money to augment the monthly allocation to the three tiers of government, warning that it could heighten inflationary pressure with dire consequences for the country’s exchange rate and economy. The analysts, in separate interviews with newsmen, warned that a sustained policy of printing the currency, if not well managed, would hurt the economy. The concern came on the heels of recent revelation by Governor of Edo State, Mr. Godwin Obaseki, that due to the dwindling revenue in the face of declining oil revenue arising from the growing sources of alternative sustainable energy, the federal government had to print money to augment the amount available for sharing by the federal, state and lo...
How love affair gone bad led to imprisonment of Prophet Israel Oladele
When the Lagos State Court of Appeal granted the Senior Shepherd-in-Charge of the Celestial Church of Christ, Genesis Global, Prophet Israel Oladele Ogundipe, a post-conviction bail last week, on grounds of failing health, quite a number of people, particularly members of his congregation, were very happy with the news. This is because the televangelist’s previous bail applications were all turned down. Oladele was arraigned on seven counts bordering on obtaining by stealing, inducing delivery of money by false pretences, unlawful conversion of property and forgery, fraudulently collected N14m and £12,000 in various tranches from the complainant between August 30, 2002 and 2005. He was found guilty on two counts of stealing and unlawful conversion of property not delivered. And on November...
Kaduna monarch: Nigerian politicians are greedy opportunists
The emir of Birnin Gwari, Malam Zubairu Jibril Mai Gwari II, has lashed out on Nigerian politicians whom he described as greedy opportunists. The monarch made the comment in Kaduna during the North-West Conference on the State of the Nation and contemporary challenges in Nigeria organised by Arewa Research and Development Project ARDP and Savanah Center. He said some politicians have capitalised on illiteracy and poverty among the people to attain power. “I have said it on so many occasions and so it’s easy for me now to repeat what I have said before. Why do we have failure in politicians running state, local and federal governments? I traced the problem to who we consider as politicians in our localities. “If you go to every part of the country those who call themselves politicians, stak...
House seeks refund of N308 million wrongly paid to resident doctors
The House of Representatives committee on health care services has directed the National Association of Resident Doctors (NARD) to return N308 million in salaries wrongly paid to its members in the past four months. Chairman of the committee, Rep. Tanko Sununu said the N308 million had been with NARD and they are in touch with relevant organs of government to make sure that the money is paid back to government treasury. He however said, the monies were not refunded because the account into which the refund to be made was not given to them. He disclosed this after a closed-door meeting with NARD members on Friday. “At this meeting, we resolved and the account number was forwarded to the President of the Resident Doctors for onward transmission to the members so that the money can be paid ba...
Maureen Esisi: Leaving my marriage was my best decision ever
Maureen Esisi, ex-wife to popular Nollywood actor, Blossom Chukwujekwu, says she once contemplated suicidal thoughts after her divorce. Maureen talked about her failed marriage to the Nollywood actor in a monologue on her Youtube page. According to her, although it was not easy leaving the 2-year-old marriage, it “was the best decision ever.” “Let’s look back two years ago when I left my marriage. I left my marriage penniless broken and penniless. I can remember it like it was yesterday. I have no money in my account. My business had suffered so much,” she disclosed. “And I was broken. I had a friend who felt it in her heart to be there for me. I love her to bits. I moved out of my then home and moved into this place that you all love today. “It wasn’t easy, I swear. For the first time in ...
Court urged to restrain Nigerian government on £4.2 million James Ibori loot
The Federal Government has been sued over its planned use of the £4.2million linked to former Delta State Governor James Ibori. The President, League of Ndokwa Professionals (LNP), Chief Tony Amechi and Legal Adviser, Evans Ufeli, on behalf of the people of Delta State, are challenging the Federal Government’s plan to deploy the funds to projects outside Delta. The Attorney-General of the Federation (AGF), the Federal Executive Council (FEC) and the Minister for Finance are the defendants. In their originating motion, the plaintiffs seek a declaration that the first and second defendants’ decision to deploy the yet to be repatriated sum of £4.2million belonging to Delta State government (when repatriated) for Federal Government’s projects is unconstitutional and repugnant to natural justic...
