Tuesday, 26 August 2014

Boardroom Colossus, Elumelu Stages Come Back…As UBA’s Helmsman


Four years after retiring as group managing director of UBA Plc, Banking wizkid, Tony Elumelu has staged a come to the mega financial institution, and this time as appointed chairman.

Elumelu retired as Group Managing Director and CEO of UBA in 2010 following the introduction by the Central Bank of Nigeria (CBN) of ten-year tenure limits for bank CEOs. He had served as the chief executive of the group for 13 years and was responsible for the creation of the present UBA, a financial services institution that has built a reputation for itself rendering services to more than ten million customers across the continent and beyond.

Elumelu has joined the likes of Jim Ovia, former CEO of Zenith Bank, who was affected by the same policy but came back to the bank as its chairman on July 16, 2014.

Elumelu is expected to bring his wealth of experience, including being one of the most influential leaders and entrepreneurs to bear on the bank and take it to greater heights.

He is Chairman/CEO of Heirs Holdings, the pan-African proprietary investment company, which he founded in 2010, with stakes in a number of leading African businesses, including Transcorp, Nigeria’s largest listed conglomerate by market capitalisation, as well as UBA.  

The chairmanship of UBA will complement his existing positions with other Heirs Holdings’ portfolio businesses, including the chairmanships of Tenoil Petroleum & Energy Services Limited and Seadrill Limited.

Widely regarded as one of the most influential business leaders in Africa, Elumelu has developed a reputation for identifying value and bringing a long term investment orientation and discipline to sectors critical to Africa’s development, including financial services, power, oil and gas, agribusiness, real estate and hospitality.

As the founder of the Tony Elumelu Foundation, an Africa-based and African-funded philanthropy, he has always been committed to the promotion of entrepreneurship in Africa, based on his championing of Africapitalism, the philosophy that the African private sector is the critical enabler of the continent’s economic and social transformation.

According to Phillips Oduoza, Group Managing Director/CEO UBA said, “Tony Elumelu’s track record at UBA speaks for itself. His return to the board brings a depth of knowledge and experience in the African financial services industry that is second to none. We are privileged to have him lead the board at this critical stage in our development.”

Bismarck Rewane, Chief Executive of Financial Derivatives said, “Banking in Africa is a dynamic, exciting and an increasingly competitive and challenging industry. “Tony is visionary, courageous and has shown an ability to both think for the long term, and to create significant shareholder value. The drive, dynamism and competitiveness that we saw during his period as CEO of UBA, was one of the catalysts of the enormous changes in the Nigerian banking sector,” Rewane added.

Farouk Umar, president, Association for the Advancement of Rights of Nigerian Shareholders (AARNS) said, “We are delighted with this appointment. It bodes well for UBA and the banking industry now and in the future. Elumelu is a transformer and value creator for shareholders. We are excited about his return.”

Monday, 25 August 2014

Panics In Skye Bank As New CEO Faces N7billion Fraud



The new management of Timothy Oguntayo-led Skye Bank Plc, no doubt, must have been running from pillar to post to find a lasting solution to what looks like a landmark legal action presently rocking the financial institution, almost to its base.

Skye Bank Plc, National Enquirer gathered reliably is facing one of the toughest fraud cases of all time, a whopping N7billion suit preferred against it by one of its clients, Jorotom International Agency Nigeria Limited.

According to the statement of claims, the plaintiffs-Jorotom and its subsidiary, National Clearing and Forwarding Agency are alleging fraud, excess charges, greed, high handedness, betrayer and large scale scam on the part of Timothy Oguntayo-led bank and has since sought a legal redress to get its pound of flesh as a result of the monumental racket the bank has perpetrated.

Tracing the genesis of the chumming business relationship that later went sour, we gathered that, the managing director of the international agency, Jorotom, Snr. Evangelist John Omotosho had approached the management of Skye Bank in his bid to acquire one of the multi-billion Naira federal government agencies, National Clearing and Forwarding Agency, NACFA when it was declared to be sold years back.

We were reliably informed that, Skye Bank, as the financier had injected a whopping N3.6billion into the acquisition with a view to supporting Jorotom’s vision and later get its investment back through a mutual conformity and business co operation both parties had agreed.

Informed sources disclosed to this office that, no sooner the company commenced business than Skye bank moved in by forcefully demanded that, some of its top staffers be drafted on the company’s (NAFCA) board as directors and not just that, they were planted in strategic positions to run the affirs directly.

Quoting the court papers made available to National Enquirer, “the agents/staff of Skye Bank which were drafted to NAFCA as directors and the offices they held are:  Kehinde Durosinmi-Etti (Chairman), Olorunfemi Peter (Executive Director) and Bayo Sarunmi (Finance Director) respectively. These top echelon of Skye Bank which include the immediate past managing director were forcefully planted to run the day to day affairs of the company including receiving and disbursing of funds in a bid to equip their money by fire by force.

We were told that, in its process of running the company, Skye Bank via its agents was excessively charging the company aside other frivolous spending that almost dwindle its fortune. Sad enough is the fact that, the bank later withdrew its agents and declared the firm unfit to pay its bills, thereby inviting the Asset Corporation of Nigeria-AMCON, another federal government agency created as a key stabilizing and re-vitalizing tool to revive the financial system by efficiently resolving the non-performing loan assets of the banks in the Nigerian economy to take over.

All efforts by Jorotom International agency’s management to resolve the matter amicably via its auditors, Biyi Adeniran & Co. were futile as even when the auditors detected a large scale fraud, Skye Bank was so adamant in offering the company for AMCON in order to safe its face.

There are other damaging expose which the auditors, Biyi Adeniran uncovered against Skye Bank, all these are what the Plaintiff, Jorotom International agency is relying on to prosecute its case and its team of lawyers have promised to make the full report of the large scale fraud against Skye Bank available to this office as events unfold in court.       

Efforts to reach those in the corporate affairs department of the bank proved abortive as at the time of filing this report.

Jite Usman

Wednesday, 20 August 2014

Best Friends, Tonto Dike, Toyin Lawani Fight Dirty Over Sifax’ Joy Stick!







Stunning facts have emerged on the dirty acrimony presently trending on the social media, between Nollywood’s weirdest actress, Tonto Dike and her ex-beauty queen turned stylist friend, Toyin Lawani. The fight is so messy that, the duo has resulted to name calling, opening can of worms, in fact, the only thing they’ve not revealed is the real reason they’ve been on each other’s neck.

But your soar away tabloid, National Enquirer has been able to sniff around and feel the pulse of an impeccable source close to one of the warring parties and according to the gist flying around, the source of the brouhaha which is fast degenerating to a blood bath might not be unconnected with the duo’s emotional interest in the wealth of a notable shipping magnate who lives large and ready to part with anything to have celebrated ladies in his comfy arms.

Fashion goddess and CEO of Tiannah’s Place and her client cum best friend, Tonto Dike have been tearing each other on the social media, the latest being a curse the star actress rained on Toyin earlier on Wednesday morning over a debt of $15,000 Toyin is claiming she’s owing her, “you must be crazy for saying that, $15,000 for what? “15USD?, “You must be mad outta your head, u steal men then designz, must be on cheap ass drugs to sat iou, my address remains the same, come and take money” Tonto had lambasted recently. The actress also alleged her former friend of stealing men and designs in her latest tweet few hours ago which further gave credence to the fact that their relationship went sour due to this reason.

Tracing the genesis of their friendship turned sour, these two have over the years been known to be best of friends and this explains why Toyin got the deal of becoming the actress’ official clothier. Tonto on her part never ceased to hype her wardrobe manager friend on social media by posting and commending pictures of any costume she did for her for any red carpet outing.

All these are in the edge of becoming history as the twosome have been torn apart by what is still shrouded in secrecy to many. They officially made their war public some days ago and have since then never stopped insulting each other on social media with none ready to tow the part of peace.

According to National Enquirer’s sources, it all started when Tonto Dikeh whose hush hush affair with the shipping magnate and Sifax boss, Taiwo Afolabi has almost become an open secret introduced her fashion designer, Toyin Lawani to her benefactor, and to her, the introduction was meant to sow seeds in Lawani’s life by getting her to package the fabulous fashion show Sifax’ daughter put together years back.

We reliably gathered that, no sooner the business relationship was concluded than “Oga at the top”-Afolabi and ex-beauty queen-Toyin began a secret move and like the popular saying, “it takes a thief to trace a thief on the rock”, Tonto got the wind and wait, not just to pay her back but to show her why being a betrayer never pays.

We were also reliable informed that, it wasn’t just Tonto Dike alone that knew about the secret affair, Mr. Afolabi’s wife was threatened when she heard of Toyin’s pregnancy sometime ago and had to allegedly stormed her (Lawani’s) office to give her stern warning aside other public disgrace.

According to the highly dependable sources, the first step Tonto took was to withdraw into her shell, but before then, she empowered one of Toyin’s staff by name, Swanky who’s now her wardrobe consultant thereby getting set for the war.

The trouble with trouble as they say is, it starts out as fun, daring Tonto we gathered made the first move by posting a throwback photo of herself dressed in a sequined gold dress on social media giving styling credit to Swanky Jerry Ogbodo, this we were told irked Toyin Lawani who believed that particular credit should be hers, according to her, she was the one who styled Tonto for that particular occasion and more so Swanky was still with her then.

An outraged Toyin insisted further that, the styling was for a Complete fashion party few years ago and even shared a picture of herself and Tonto in the gold dress.

She afterwards twitted this; @Tontolet IN ELEGANTE BY TIANNAH STYLING DESIGNS….DESIGNED FOR HER FOR HER REBRANDING …..BEFORE U STEAL MY WORK AS URS MAKE SURE U HAVE PROOF DNT FORGET U CAN GET SUED FOR SHIT LIKE DS. …TALENT DONT COME EASILY IT’S INBUILT AND CLASS IS DIFFERENT FROM TRASH U CANT IMITATE ELEGANCE ….. GOOD DESIGNS/STYLING IS ALWAYS MEMORABLE WHICH UR CLIENT WILL NEVER FORGET. ..SO IF THEY HV BIFF AND ARE ASHAMED TO USE THE PICS CAUSE THEY CAN NEVER LOOK THAT GLAMOUROUS AGAIN THEY WILL RATHER GIVES YOUR CREDIT TO THIEVES /LOWLIVES …
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Tonto did not also hesitate to post a picture on her instagram page with the message '’Do I look like I care?".

The actress also took to twitter to disassociate herself from Toyin and her business, saying she does not shop or identify with Tiannah Styling.

The rift is getting to its crescendo and the erstwhile best friends are still spoiling for war, just for a common joy stick and from the look of things, they’re capable of reaching out for each other’s jugular should oil not poured on troubled waters.

Efforts to get across to parties concerned including Mr. Taiwo Afolabi proved abortive as at the time of filing this report. We however promise to be on their trail to serve you details as events unfold.
                                                                                                                   
Faith Irabor                        

Tuesday, 19 August 2014

FAAN MD, Saleh Dunoma Clears Air On MMIA Bomb Scare



The management of the Federal Airports Authority of Nigeria, FAAN under the supervision of Engr. Saleh Dunoma, its managing director has issued a press statement to clear the air on the bomb scare report which has been rocking the country most especially Lagosians. Below is the full text of the release signed by its general manager, corporate communications, Yakubu Datti. 

The attention of the Federal Airports Authority of Nigeria has been drawn to a story in some newspapers today alleging that there was a bomb scare at the Int’l terminal of MMA on Monday 18th August, 2014.

The suspect, a man in his late twenties was arrested at an area of the airport close to the church of the airport internal link road, leading to the Stakeholders/Limousine car park, a distance of about one kilometre to the international terminal.

At the time of his arrest, the suspect was said to have been loitering around the said area all morning. This attracted the curiosity of security guards on duty at the entrance of the Nigerian Airspace Management Agency’s CENTREX Facility located along the airport internal link road, who promptly alerted the police.

The suspect was alleged to be in possession of a device suspected to be used in making explosives. He was promptly handed over to the Airport Police Command for interrogation. 

While we appreciate the need to promptly report all suspicious characters to security agencies, it is important to always cross check the facts before going to press, to avoid sending the wrong signals to the public.

The issue of safety and security of the airport has remained our priority and the various security agencies are collaborating with us for a secure and safe environment.

The Federal Airports Authority of Nigeria therefore wishes to reassure passengers and other airport users of adequate security architecture at MMA as well as its avowed commitment to making safety and security top priority at all times.

Monday, 18 August 2014

Revealed! Billionaire Jimoh Ibrahim’s Many Troubles …His Weird Biz Empire


Fairy billionaire businessman and one of Nigeria’s most controversial CEOs, Barrister Jimoh Ibrahim sure has a date with history. The man who’s warming up to wrestle the baton of leadership from Governor Olusegun Abdulrahman Mimiko of Ondo State has been in people’s court of late owing to his bizarre administrative lifestyles. This much National Enquirer has gathered.



The Ondo State born boardroom colossus who’s one of the nation’s enfant terrible of the business world has his fingers in almost all lucrative sectors of commerce like banking, oil and gas, hospitality, media to mention but a few but the peculiar nature of how the businesses are being run is what’s leaving bad taste in the mouth.

According to inside sources, what makes this baffling is the fact that, most of the businesses the man about town is taking over are landmark organizations like the national carrier, Air Nigeria which the mogul has run aground, others are media houses, National Mirror, Newswatch and Nicon Luxury Suites which are gasping for breath and also the story emanating from Ghana where the Harvard trained lawyer sited a financial institution, Energy Bank is nothing to write home about.

Those close to the Chairman of Global Fleet recently spilled the beans on what could be the probable source of the ups and downs in his chain of businesses. According to them, aside his restless and uncultured administrative style, there’s this strange aura about his personal idiosyncrasies and spiritual being which dates back from inception.

All his life, the source confided further in your award winning tabloid, National Enquirer, that Barrister Jimoh Ibrahim’s life and fortune have always been ominously outlandish right from his first major vocation as the personal assistant to Navy Commodore Oladipupo Ayeni, the first military administrator of Bayelsa State.

Maybe by providence or spiritual miracle, no sooner had his boss, Ayeni left office as MILAD in 1996 than his fortune nose-dived while the P.A started catapulting in wealth and riches, and what the impeccable source found amazing is the fact that, Barrister Ibrahim has since closed all pipes with which the man could reach him for any help thereof.

The situation with his former boss and mentor got worsened to the extent that, the man was hit by a life threatening terminal ailment when he couldn’t live up to standard and was eventually consigned to wheel chair, Ayeni’s wife we gathered visited the business wizkid severally for a possible assistance for her hubby but the outcome is a story for another day.

But for the incumbent governor of Ekiti State, Dr. Kayode Fayemi, Navy Commodore Ayeni would have since been forgotten as he (Fayemi) had to quickly rescue the situation by presenting him with a brand new Toyota Avensis car with lots of goodies to keep body and soul together.

This office gathered reliably that despite his vast business empire, there’s always this peculiarity about his queer administrative style which has been allegedly traced to spiritualism.  The dependable source cited a particular strange occurrence, a second degree fire accident that almost sniffed life out of the billionaire business mogul sometime ago.

The dateline was 2012 when one of his marabouts allegedly proposed a ritual burnt offering for him as a lasting solution to his business instability and persistent financial predicaments, and the order had been that he will have to burn a live ram to ashes in the middle of the night without anybody’s attention. At dawn on the fateful day in his VGC house, Barrister Ibrahim sent all his domestic staff to bed early enough and made for the sea front in his compound where the live ram was tied to a stake, we learnt he poured petrol on it but unfortunately by the time he struck the match, the ram smelt rat and went for him and both began to burn leaving almost half of his body ruthlessly consumed.

The source revealed that it was a real drama as Barrister Ibrahim ran helter sketter for dear life but got severely burnt to the point that he couldn’t go to the office for months, telling everybody who cares to listen that, it was a domestic accident at home, the money bag is however being challenged to take a half nude shot of himself should he object to the story.

As if the calamity that befell him on the alleged ritual night was not enough, the marabouts were said to have seen the disaster as a bad omen capable of troubling his business empire and not too long to that time was when the national carrier, Air Nigeria which he was managing was grounded plus so many other strange happenings, looming and which the source has in her kitty to reveal.

Jite Usman.