11 Things Which Prove MMM Is A Ponzi Scheme

In the past month, ‘MMM’ has become quite common among Nigerians despite warnings from the Securities and Exchange Commission (SEC).

The Ponzi scheme is gaining new members daily and a Nigerian chose to explain how and why the scheme should not be invested in

1. Interest is too high and too good to be true
2. You don’t understand what they do with the money#NigerianPonzi

— Financial Advocacy (@ugodre) September 7, 2016

3.There is no face to the owners of the business
4.The company is new and probably doesn’t have a recognized office building#NigerianPonzi
— Financial Advocacy (@ugodre) September 7, 2016

5.They don’t sign any legal binding agreement with you#NigerianPonzi

— Financial Advocacy (@ugodre) September 7, 2016

https://t.co/XZ8cdJF9ai don’t get a collateral or security for your investment#NigerianPonzi
— Financial Advocacy (@ugodre) September 7, 2016

7. It is not regulated or approved by SEC or any other body allowed by law to approve such a scheme#NigerianPonzi

— Financial Advocacy (@ugodre) September 7, 2016

8. They give you incentives/rewards to bring in more subscribers to the scheme.#NigerianPonzi
— Financial Advocacy (@ugodre) September 7, 2016

9. It relies on new incomers to sustain the scheme. When new incomers stop it dies. #NigerianPonzi

— Financial Advocacy (@ugodre) September 7, 2016

10. The owners hate criticisms and defend it till the scheme crumbles.#NigerianPonzi
— Financial Advocacy (@ugodre) September 7, 2016

11. It fetes on people’s greed and thirst for quick money#NigerianPonzi

— Financial Advocacy (@ugodre) September 7, 2016

Alleged N2.3b Diversion: Ex-Minister Orubebe Gets N10m Bail

A Federal Capital Territory (FCT) High Court sitting in Maitama, Abuja has granted a former Minister of Niger Delta Affairs, Elder Godsday Orubebe and two others bail at N50million.
The trio were arraigned before the court on Wednesday morning on a six-count charge bordering on corruption, perjury, and diversion of public funds.

The two others are Oludare Lawrence Alaba, an Assistant Director, Ministry of Niger Delta Affiars and Ephraim Tewolde Zeri, Director of Contracts in Gitto Costruzioni Generali Nigeria Limited.
They are, in the charge filed by the Independent Corrupt Practices and other related offences Commission (ICPC), accused among others, of diverting about N2.3b meant for the compensation of property owners to be affected by the Federal Government’s dualisation project of Section IV of the East West Road.
Orubebe and others pleaded not guilty to the charge, following which Justice Kayode Adeniyi granted the ex-minister bail at N10m and one surety, who must be a responsible Nigerian, resident in Abuja and must show evidence of regular tax payment.
Justice Adeniyi granted Alaba and Zeri bail at N20m and one surety each, who are to be residents in Abuja.
The judge said Alaba’s surety must be an Assistant Director in any Federal Government parastatal, while Zeri’s surety must own property in Abuja and show evidence of ownership.
Justice Adeniyi who adjourned to November 10 for commencement of trial, ordered the defendants to be kept in ICPC’s custody pending when they are able to perfect their bail conditions.
It would be recalled that the case was earlier slated for hearing last week but had to be postponed till today following a domestic accident suffered by the former minister.
Mr. Orubebe, who maintains his innocence, alleged that he was unduly being persecuted, recalling that the ICPC investigated and found nothing incriminating against him about a year ago.
“My hands are clean and I did not do anything wrong throughout my tenure as Minister of Niger Delta. I want Nigerians to know that I am being unjustly persecuted and that what they are doing to me is unfair”, he said.

Why Mohammed Babangida dragged ex-wife Rahma to Sharia Court

Mohammed, son of Former Nigerian Military President, Ibrahim Badamasi Babangida, has initiated a legal battle with his ex wife, Rahma for custody of their two eldest kids.

According to court documents obtained exclusively by LIB and also confirmed from a reliable source, Mohammad initiated the custody battle to finally reunite his children together and cut-off every trace of Rahma from their lives. The source said, their eldest kids Maryam and Ibrahim are reportedly in Rahma’s custody, while the two youngest ones are with him in Minna.

READ: Rahama Indimi Confirms Split From Gen. Ibrahim Babangida’s Son
Mohammed took the custody battle with his ex wife to a Sharia Court in Minna, Niger state and sources close to the case say they suspect foul play, saying not only was judgement allegedly carried out without Rahma and her representatives being present, but allegations are being made that the Babangidas are manipulating the case, especially since they have notable influence in the state.
The Court has now ordered Rahma to hand over the two children to their father, pending the determination of a substantive suit. An insider claims this shouldn’t be so. To learn more about Child custody under sharia law. READ HERE.

There is also an allegation about threats to life being made and a police report being filed to address it. Whether it’s about the custody battle or the controversial audio that was supposedly leaked via Rahma’s Instagram page, LIB can’t confirm yet until they acquire proof.
From the documents acquired, Rahma has since replied and objected to the Sharia’s court judgement via an FCT Area court.
Source: LIB

DSS, Police To INEC: Postpone Edo Guber Polls

As voters in Edo State warm to go to the polls to elect a new governor this Saturday, the Nigeria Police and State Security Services have called on the Independent National Electoral Commission, INEC, to consider possible postponement of the election.
The security agencies made the call at a joint press briefing at the DSS Headquarters in Abuja on Wednesday.

According to the Force Public Relations Officer, Deputy Commissioner of Police, Don Awunah and his DSS counterpart, Tony Opuiyo, represented by Garba Abdullahi, credible intelligence available to the security agencies indicate possible terror attack during Sallah celebration, especially in Edo State.
Details later…

Landlord Sends Tenants Packing For Supporting APC In Edo

Five tenants in Esan North East Local Government Area of Edo State have been evicted from their homes by their landlord for openly rooting for the All Progressives Congress (APC) to defeat the Peoples Democratic Party (PDP) in this Saturday’s governorship election in the state.
The landlord, whose name was given as Mr. David Agberemole, is a PDP supporter.

The tenants – Mr. Sylvester Chukwuemeka, Okosun Christiana and Ogbeide Elizabeth – who lamented the fate that befell them for supporting the APC, said they suffered untold hardship from their landlord for their political choice.
One of the tenants, Okosun Christiana, who spoke in her native dialect (Esan) said, “We don’t have any problem, just party differences, he told us he wanted everyone in the house to support PDP, because he is a member of the party, but I refused.
“I told him that I have been in APC for a very long time that even if the PDP is buying me a car I prefer to remain in the APC, and he said since that is my stand; I should consider myself evicted from his house”, she narrated.
Also speaking, another of the evicted tenants, Sylvester Chukwuemeka, revealed that his rents were up to date, adding that the action of their landlord negates the principle of fair play and justice just because they refused to support the PDP.
“I don’t understand why the landlord will just decide to drive us out of his house because we are not supporting PDP. I pay my rent regularly and this is not fair to me.
“The state government should come to our aid because I don’t know when it became a crime to support a party”.
Chukwuemeka also called on relevant authorities to come to their aid.
Meanwhile, Acting Executive Chairman of Edo State Internal Revenue Service, Barr. Emmanuel Usoh, has donated some bags of cement and money to the evicted tenants to build their own houses.

DHQ Denies Knowledge Of Salkida’s Arrest

The Defence Headquarters (DHQ) on Monday denied knowledge of the whereabouts of a citizen journalist, Ahmed Salkida, declared wanted by the Nigerian Army over alleged ties with Boko Haram.
Mr. Salkida, a Nigerian based in Dubai, who has extensively covered the Boko Haram insurgency and believed to have access to the terrorist sect’s leadership, was reportedly arrested at the Nnamdi Azikiwe International Airport, Abuja.

According to online reports, the journalist was arrested as he emerged from the Emirates Flight EK785 aircraft that brought him to Abuja by security agents.
There were speculations the Nigerian military carried out the arrest since declaring him wanted last month over the release of a video showing abducted Chibok schoolgirls in custody of Boko Haram.
But the Defence spokesman, Brigadier General, Rabe Abubakar said yesterday that the military has no knowledge of Salkida’s arrest.

FG Gives Approval For Recruitment Of 15,000 Nigerians Into NDLEA – Malami

The Federal Government has given approval for the recruitment of 5,000 staff in the National Drug Law Enforcement Agency, NDLEA, in addition to 10,000 in 2017.
This was disclosed by Minister of Justice and the Attorney General of the Federation, Abubakar Malami (SAN).

Malami, who spoke at the ECOWAS ministers meeting yesterday, said there are plans by the federal government to improve the capacity of the NDLEA in relation to fighting crimes in the region.
The AGF, who urged member countries’ ministers to adopt the new ECOWAS Regional Drug Action Plan, for the year 2016-2020, noted that it provides a roadmap and working document for the ECOWAS drug control team.
Commending Nigeria’s effort to tackle drug trafficking at the national level, the ECOWAS Director in Charge of Drug Control, Sintiki Ugbe, said the Federal Government of Nigeria has demonstrated political will by approving the recruitment of workers to widen the NDLEA capacity and further develop a national drug control master plan.
“We see and applaud that kind of political commitment in the region. We also want to see the translation of political commitment into real actions”, Ugbe said.

EVER FALLEN VICTIM TO CUNNY DRIVERS? TELL US YOUR STORY

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Just like he had done for the past two weeks, Kunle had Sola, his driver take him to work and return the car to his house immediately. This is because Sola had been attending an official conference in Lekki which usually runs late into the night and since he finds it difficult to drive at night, he decided to take a cab home at the end of each day’s training.

On the last day of the training, he got a call from his wife around 1 pm asking him if they were expecting visitors she didn’t know about.  He said no and she explained that she just saw their driver at Obalende with his car filled with people. Together they came to the only logical conclusion; their driver had turned the car to a commercial cab! The next morning, Sola was sacked as soon as he reported to duty.
You are the King of Knowledge when it comes to what happens in your home, office and probably everywhere else. However, can you say the same about the person you trust to sit behind your wheels? Is your driver really who he says he is? Maybe he drives drunk in your absence, takes your car out for a spin with his girlfriend(s) and gives you an unlikely story about how your car got bashed.
Like Kunle, many have been pissed off by their drivers more times than they can count. Why don’t you share your experience to find out if your case is the worst or most hilarious so far?  Join the conversation on #MyWorstDriverStory brought to you by Nigeria’s leading Indigenous IT Solutions Company, Concept Nova.
Upload a 30-60 Seconds Video (Instagram or Facebook) describing in brief, your worst driver experience so far.
The videos in which we are tagged would be posted on our social media platforms and if your story generates enough buzz to garner the most likes, shares and views, you stand a chance to be among the four lucky winners who would go home with amazing prizes.

Fear Grips Niger Delta Region As Military Deploys Weapons

Apprehension, suffering and death. These are the concerns as the military begins a massive buildup against armed agitators in Nigeria’s oil rich region, the Niger Delta.

Yesterday, a long convoy of about 32 articulated vehicles was seen on the Port Harcourt-Warri dual carriage way carrying long-range tanks, armoured personnel vehicles and an assortment of weapons. The vehicles allegedly headed to military formations in Delta and Bayelsa states.
Since the military launched ‘Operation Crocodile Smile’, there has been such a movement of heavy military hardware. But it has become frequent lately.Some days ago, the Chief of Army Staff said the deployment was not meant to intimidate residents of Niger Delta but for strategic military purposes to make Nigerians feel safe in the region.
But the Ijaw Youths Council (IYC) alleged that the deployment of troops and weapons in the region was an indication that the Federal Government was not interested in peace in the region and was intimidating the people.IYC spokesman, Eric Omare, said the President Muhammadu Buhari’s government had shown through the deployment that it was never interested in dialoguing with the Niger Delta stakeholders.
Also, the Pere of Seimbiri Kingdom, His Royal Majesty Ayemi Botu, said the frenzied deployment of military hardware and troops in the region showed insensitivity on the part of the Buhari government and could throw the region into chaos.
“Sequel to the acceptance of a ceasefire, courtesy of monarchs and other leaders of the Niger Delta 10 days ago by the Niger Delta Avengers and other militant groups, one would have expected President Buhari to announce his dialogue team as he did in early June, 2016 when he declared a two-week ceasefire, preceding his medical trip to the United Kingdom.
“To the contrary, he has ordered the mobilisation of troops to the Niger Delta under the pretext of military exercise code-named ‘Operation Crocodile Smile’ thus sending negative signals to all Nigerians and the international community that the stage is set to crush the militants at a time they have accepted ceasefire. “We have been making frantic and passionate appeals in conjunction with the United States Consul General, Mr. John Braye, calling on both the Federal Government and the militants to sheathe their swords and embrace dialogue to proffer lasting solutions to the Niger Delta quagmire.
Both the United States and the European Union have expressed their determination to partner the Federal Government in this onerous task now that the opportunity is available,” Botu said.
He implored President Buhari to withdraw the troops and follow the path of honour to set a machinery in motion without further delay to commence the dialogue.“Wise counsel suffices, but if unheeded and the military authorities go ahead to unleash their arsenal on the goose that lays the golden egg and all the strategic and volatile oil installations are affected, invariably the resultant conflagration will certainly overwhelm the entire region, Nigeria will be comatose economically,” the monarch said.
Meanwhile, the military has vowed to use proportional force to dislodge those described as criminals and groups threatening the peace and stability of the Niger Delta.As it continues its offensive against militants, the military urged law- abiding residents of the region not to panic when they see the movement of troops and heavy weapons.
The Commander, 2nd Brigade, Nigerian Army, Port Harcourt, Rivers State, Brig.-Gen. Hamisu Hassan gave the advice yesterday.“The exercise ‘Operation Crocodile Smile’ is part of the routine military exercise that we conduct and has been planned to take place to enhance proficiency of our personnel. Such an exercise is done in other parts of the country, in the North East and North West, and which is peculiar to the security challenges in that area.
“So, I want to assure the law-abiding citizens to remain calm as they see troop movements and equipment they have not seen before. They should go about their lawful activities without fear. Nothing will happen to any law-abiding citizen. We are here to protect them,” the commander said.
According to him, the ‘Operation Crocodile Smile’ has made tremendous achievement in the fight against pipeline vandalism, cultism, and other criminal acts in the Niger Delta.
Source: Guardian

Former Local Gov’t Chairman in Ondo State assasinated

A former local government caretaker committee chairman of Okitipupa Local Government Area of Ondo State, Niyi Pirisola has been assassinated. The deceased who was a member of PDP, was killed in the early hours of today about 3am while returning from a church programme at his hometown, Ilutuntun. His remains has been deposited at the Okitipupa general hospital.

Meanwhile the police say they have launched a full scale investigation into the murder.
Source: Punch

Halliburton Scandal: EFCC Traces N13.5b To Private Account

The Economic and Financial Crimes Commission (EFCC) has uncovered how $32.5 million of about $200 million fines from Halliburton Energy Services was allegedly paid into a private account.

The cash was said to be missing because the anti-graft agency could not ascertain whether or not it was remitted into the Federal Government’s account.
A top shot with the Nigerian National Petroleum Corporation(NNPC), Mr. Roland Ewubare, who was one of the lawyers involved in the Settlement Agreement with Halliburton, has been given up to September 15 to submit a letter authorising him by the Federal Government to open the private escrow account.
Ewubare told the EFCC that, as the then Executive Secretary of the National Human Rights Commission (NHRC), he acted in national interest in opening the escrow account.
He is in the United States to retrieve the relevant documents relating to the account for the EFCC.
The EFCC has grilled the Managing Director of Halliburton Energy Services in Nigeria, Henry Oki.
Oki gave the details of how agreements were signed between the Federal Government and Halliburton in London.
About five companies have paid fines in line with a Settlement Agreement with the Federal Government .
The breakdown of the remittances by the five companies is as follows: Julius Berger ($35m); Siemens (Euros 30m); Snamprogetti ($30m); Halliburton Energy Services ($32,500,000); and Japan Gasoline Corporation ($26, 500,000).
Top Nigerian lawyers who oversaw the agreement are a former President of the Nigerian Bar Association, Joseph B Daudu (SAN), Mr. E.C Ukala (SAN) Chief Godwin Obla (SAN), Mr. Roland Ewubare and Damian Dodo (SAN).
Some members of the legal team were conferred with national honours for the recovery.
EFCC detectives have discovered that the missing $32.5million was transferred by Halliburton into FGN JP Morgan Chase New York Swift BIC Code CHASUS 33, Account No. 000742501406865.
It was gathered that the account was titled Madison Avenue/ Escrow /CBN/ FGN further Credit to FGN Litigation Settlement.
The EFCC team later discovered that although the account was opened in the name of the Federal Government, it was a purely private account which was managed by Ewubare and others as signatories.
A top source said: “Out of over $200million fines paid, about $32.5million(N13,585,000, 000) is missing. Our team only succeeded in tracing the transfer of the cash into an account in New York but there is no record of whether or not it was remitted into the Federal Government Consolidated Account.