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Captured Moments from the Oraimo Spacepods Moonlight Edition Launch Event in Lagos

Tosin Ranks
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Captured Moments from the Oraimo Spacepods Moonlight Edition Launch Event in Lagos

The renowned smartphone accessories and lifestyle brand, oraimo, recently introduced their latest product, the Burna Spacepods True Wireless Earbuds, at The Podium in Lekki, Lagos.

This exclusive launch event brought together prominent figures from both the Nigerian technology and entertainment industries.

The outstanding feature of these earbuds is their advanced Active Noise Cancellation system, which creates a tranquil and immersive listening experience.

Furthermore, they boast an impressive 8.5 hours of battery life on a single charge, with the charging case offering an additional 27 hours of usage to keep you powered throughout the day.

Please enjoy some of the snapshots from this exciting product launch event below.

MTN, Flour Mills, and other companies collectively reduce the NGX market capitalization by a total of 67 billion Naira

Tosin Ranks
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MTN, Flour Mills, and other companies collectively reduce the NGX market capitalization by a total of 67 billion Naira

Bearish sentiments persisted on the Nigerian Exchange Limited as the market responded to the Supreme Court’s ruling on the 2023 general elections cases, resulting in a staggering loss of N67 billion from its market capitalization.

This marked the second consecutive day of negative trading on the local stock exchange.

This decline in market capitalization was primarily driven by depreciation in the share values of key companies, including MTN Nigeria (-0.40 percent), Flour Mills (-3.23 percent), Stanbic IBTC (3.21 percent), Computer Warehouse Group (-9.94 percent), Fidelity Bank (-1.82 percent), and 24 others.

The Supreme Court upheld the decision of the Presidential Election Petition Tribunal, affirming President Bola Tinubu’s victory in the February 2023 election.

The All-Share index dipped by -0.18 percent, in contrast to the previous day’s -0.02 percent decline, closing the day at 67,084.95 points, with the market capitalization settling at N36.856 trillion.

Market Breadth, a measure of investor sentiment, was negative at 0.41x, compared to its previous reading of 1.28x, as 29 stocks depreciated while only 12 gained.

Transaction volume decreased from 329.66 million to 267.65 million shares, valued at N5.1 billion, traded in 5,205 deals. A total of 117 stocks were traded during the session.

Across monitored sectoral boards, negative sentiment prevailed, with two out of five sectors closing in the red, two remaining muted, and only one sector experiencing gains.

The Banking and Insurance indexes suffered the most setbacks, declining by 0.33 percent and 1.82 percent, respectively, driven by sell-offs in companies like Stanbic, Prestige, Cornerstone Insurance, GTCO, and Zenith Bank.

However, the Consumer Goods sector grew by 0.12 percent, thanks to Nestle and Transcorp, while the Industrial Goods and Oil & Gas indexes exhibited lackluster performances.

Notable gainers at the close of Thursday’s trading included McNichols, whose shares appreciated by 8.93 percent to close at N0.61, Oando gaining 4.07 percent to close at N8.95, UAC Nigeria’s shares increasing by 6.09 percent to close at N12.20, Chams gaining 3.65 percent to close at N1.99, Nestle gaining 2.94 percent to close at N1,050, and Transcorp gaining 2.75 percent to close at N6.35 per unit.

The day’s trading was primarily driven by the stocks of Fidelity, Chams, Nestle, AccessCorp, UBA, and Stanbic in terms of volume and value.

Davido finally speaks out regarding the debt allegations made against Dammy Krane

Tosin Ranks
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Davido finally speaks out regarding the debt allegations made against Dammy Krane

Davido, the accomplished music artist, has issued a response to his fellow artist, Oyindamola Emmanuel, who is popularly known as Dammy Krane, concerning allegations of unpaid debts.

Dammy Krane claimed on Tuesday that Davido owed him for their successful collaboration on the song “Pere” and appealed to Davido to settle the debt, citing the impending school fees for his daughter as the reason.

In his reply on Friday, Davido emphasized that he had never received compensation for the three verses he contributed to Dammy Krane’s song nine years ago.

Davido also recalled instances when he provided shelter and support to Dammy Krane in Atlanta when Dammy Krane was homeless.

Davido stated, “I never received payment for those three verses I generously provided for your struggling career.

Additionally, I have unpaid royalties, and today we charge $150,000 for each verse.

I also covered your house rent and food expenses when you were staying in my Atlanta home during your time of need.

Police report reveals that a UNIPORT student was involved in the tragic incident where he took the life of his girlfriend and illegally harvested her organs

Tosin Ranks
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Police report reveals that a UNIPORT student was involved in the tragic incident where he took the life of his girlfriend and illegally harvested her organs

The Rivers State Police Command apprehended Demain Okoligwe, a 400-level Petrochemical Engineering student at the University of Port Harcourt, on charges of murdering his girlfriend, Justina Otuene, a 300-level Biochemistry student at UNIPORT, and harvesting her organs at his residence near Port Harcourt’s NTA Road.

Commissioner of Police Emeka Nwonyi made this revelation during a news conference, explaining that the suspect dismembered the victim, concealing her remains for days, possibly for ritual purposes.

The discovery occurred when a vigilant neighbor reported a suspicious odor emanating from Okoligwe’s apartment.

On October 25, 2023, at approximately 15:30, Ozuoba Division officers received the neighbor’s complaint, leading to the recovery of the lifeless body hidden in a bag.

Demain Okoligwe, the prime suspect and boyfriend of the deceased, was swiftly arrested.

The victim’s body was deposited in the mortuary, and investigations have been handed over to the State Criminal Intelligence and Investigation Department.

CP Nwonyi expressed condolences to the victim’s family and urged young women to exercise caution in their relationships.

He also urged parents to guide their children in selecting friends to avoid individuals with malicious intentions.

In a separate incident, the police paraded Enyinnaya Iheukwumere, who claimed to be a doctor, and two accomplices for allegedly trafficking four children, including a 19-month-old baby.

The suspects were apprehended following a woman’s report of her son’s abduction in Rumuokoro, Port Harcourt.

The investigation led to the rescue of the trafficked children, three of whom hailed from Benue State.

The children rescued were named as Benedict Kpaaka (19 months old), Godgift Julius (four years old), and Philomina (six years old).

The police continued to intensify their efforts to apprehend the child supplier, Angel Shimeson, who remained at large.

Please note that these are sensitive and distressing incidents.

Emefiele’s detention by EFCC follows his release by the DSS, the former CBN governor

Tosin Ranks
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Emefiele’s detention by EFCC follows his release by the DSS, the former CBN governor

The former Governor of the Central Bank of Nigeria, Godwin Emefiele, is presently under the custody of the Economic and Financial Crimes Commission (EFCC).

He is currently undergoing interrogation at the EFCC’s National Headquarters in Jabi, Abuja. This follows his arrest by EFCC operatives just hours after he was released from the Department of State Services’ custody. An authoritative source disclosed this development on Friday, indicating that the EFCC is investigating Emefiele for alleged financial improprieties during his tenure as the head of the central bank.

It is also possible that additional charges will be filed against him by the EFCC.

The EFCC spokesperson, Dele Oyewale, was unavailable for official confirmation at the time of contact. Emefiele had been in DSS custody since June when President Bola Tinubu suspended him from his position.

He was subsequently directed to transfer his duties to Folashodun Shonubi, the Deputy Governor, Operations Directorate at the central bank. A day later, the DSS announced that Emefiele was in their custody for investigative reasons.

On July 25, he was brought to court on a two-count charge related to “illegal possession” of firearms, and he was granted bail of N20 million.

These charges were later dropped by the Federal Government on August 17. However, a new 20-count charge was brought against him, alleging conspiracy to commit procurement fraud, among other offenses.

The arraignment has been delayed twice, and there were reports that Emefiele proposed a plea bargain agreement with the Federal Government, which included his resignation as CBN governor and asset disgorgement.

On September 22, the CBN officially confirmed Emefiele’s resignation, and Olayemi Cardoso was appointed as the new governor of the apex bank.

 

Women in Anambra stage a protest against the killings and abduction of a monarch

Tosin Ranks
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Women in Anambra stage a protest against the killings and abduction of a monarch

More than 100 women hailing from the Ogwuaniocha community in the Ogbaru Local Government Area of Anambra State marched through Onitsha and its surrounding areas on Thursday.

Their protest aimed to raise awareness and condemn the ongoing violence, abductions, and property damage inflicted by unidentified gunmen operating within their community.

Most of these women, primarily in their mid-50s and older, asserted that at least 20 individuals have lost their lives, with numerous others sustaining injuries due to the actions of a group operating under the moniker “Lion Squad.”

They claimed that this armed squad overran their community, with their monarch, Igwe Oliver Nnaji, abducted in 2021, and his whereabouts remain unknown.

One of the women leaders, Nkemdilim Onwurah, emphasized that recent attacks by the “Lion Squad” commenced last Friday, compelling residents to flee their community.

She pointed out that despite being an oil-rich area contributing to Anambra’s oil production status and consequently receiving oil derivation funds, the state government has neglected the community’s security.

Security forces appear to protect only the area where the oil company operates, leaving other regions vulnerable to these gunmen, who have fled from Orsu, Lilu, and Ihiala communities.

These gunmen have taken refuge in their community as their camps in Ihiala, Orsu, and Lilu have come under assault from security operatives.

The residents implored the Anambra State government to intervene, as their homes have been destroyed, and families are forced to hide in the bush to escape the violence.

Cecilia Okonkwo, another protester, disclosed that the same criminal elements operating as the “Lion Squad” had kidnapped the traditional ruler of the community in November 2021, and his whereabouts remain unknown.

The situation escalated as a combined group of terror gangs and the Lion Squad targeted innocent citizens between Thursday, October 19, and Friday, October 20, causing injuries and fear in the community.

Additionally, Ngozi Freda recounted how these gangsters set the Igwe’s palace on fire and kidnapped the monarch in November 2021.

The insecurity and violence in their community coincided with the discovery of oil, with these criminals forming alliances with opposing groups to gain control of the community’s resources.

They pleaded with the governor to come to their rescue and address their dire situation, emphasizing their belief in his responsiveness.

However, when contacted, the state police public relations officer, DSP Tochukwu Ikenga, expressed no knowledge of the insecurity and violence in the Ogwuaniocha community at the time of the report’s filing on Thursday.

Qatar imposes the death penalty on eight individuals from India

Tosin Ranks
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0
Qatar imposes the death penalty on eight individuals from India

On Thursday, India expressed its concern over the sentencing to death of eight of its citizens by Qatar.

Media reports indicate that the case involves allegations of espionage against high-ranking former naval officers.

New Delhi has stated its intention to engage with Qatari authorities regarding this verdict and provide consular and legal support to the convicted individuals, according to the Indian foreign ministry’s official statement.

The statement further revealed that the verdict was issued by the Court of First Instance of Qatar, specifically in a case related to eight Indian employees of Al Dahra company.

The Indian government expressed deep shock at the imposition of the death penalty and is awaiting the release of the detailed judgment.

Al Dahra is a Gulf-based company specializing in providing comprehensive support solutions for the aerospace, security, and defense sectors.

As of now, there has been no immediate confirmation from Qatari authorities, and India’s foreign ministry has refrained from disclosing further information about the eight condemned individuals or the nature of their alleged crimes.

Due to the confidential nature of the proceedings, the ministry emphasized that making further comments at this stage would not be appropriate, and it is actively exploring various legal options.

However, multiple Indian media outlets have reported that those sentenced include former naval officers, including former captains and commanders, who were arrested in Doha in August 2022 on charges of espionage.

 

The Senate is considering prohibiting domestic foreign exchange transactions and is suggesting the imposition of prison sentences

Tosin Ranks
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0
The Senate is considering prohibiting domestic foreign exchange transactions and is suggesting the imposition of prison sentences

A bill aiming to prevent the Central Bank of Nigeria’s serving Governor from engaging in partisan politics and to improve the bank’s efficiency successfully passed its second reading in the Senate on Wednesday. Another bill, which focuses on prohibiting the use of foreign currencies for local transactions, was also discussed.

One of these combined bills, known as the “Central Bank of Nigeria (Establishment) (Amendment) Bill 2023,” was introduced by Senator Steve Karimi from the All Progressives Congress representing Kogi West.

The second bill, titled “A Bill to Amend the Central Bank of Nigeria Act 2007, and for Matters Connected Therewith, 2023,” was sponsored by Senator Darlington Nwokocha from the Labour Party, representing Abia Central.

This legislative action was prompted by the controversial attempt of the former CBN governor, Godwin Emefiele, to run for the 2023 presidential primaries of the APC while holding his position, a move that received widespread criticism from Nigerians due to its violation of the constitution’s provisions.

Karimi’s bill, as outlined in its explanatory memorandum, aims to amend the CBN Act to enhance transparency and accountability in the management of the apex bank and to restrict the use of foreign currency in local transactions within Nigeria.

Karimi’s proposed modification to Section 9(2) of the CBN Act states: “Despite the provisions of this Act or any existing written law, the Governor and Deputy Governor of the bank shall not directly or indirectly participate in partisan politics or contest any election during their tenure in office.

Furthermore, Senator Karimi’s bill seeks to prohibit the use of foreign currency for domestic transactions in Nigeria through an amendment to Section 20 of the CBN Act, introducing Section 20(a).

This proposed amendment stipulates that “No individual or corporate entity shall use foreign currency for goods, services, and other transactions in markets, supermarkets, hotels, restaurants, airports, and other places of business in Nigeria except through a bank, a licensed Bureau De Change, or other authorized financial institutions sanctioned by the Central Bank of Nigeria for such currency dealings.

Additionally, no individual or business entity in Nigeria shall advertise, denominate, or price their goods or services in any currency other than the Nigerian Naira and Kobo.”

Senator Nwokocha, in his lead debate, explained that his bill aims to address the existing shortcomings that have hindered the Central Bank’s ability to manage the nation’s economy effectively.

The central focus of this amendment is to transform the Central Bank into an institution that prioritizes the interests of the people, ensuring price and financial system stability while fostering sustainable economic development.

In light of the nation’s economic challenges, the bill seeks to reposition the Central Bank to stimulate economic growth, regulate exchange rates, oversee financial transactions, and reduce the dollarization of the economy.

The proposed legislation also strives to separate the head of management from the head of the governing board in line with national and international corporate governance standards, establish real-time controls and enhance accountability in the central banking conduct in Nigeria.

Ultimately, this bill is designed to reposition the Central Bank, emphasizing its core mandates and the pivotal role it plays in the economy.

It aims to make the Central Bank an apolitical entity, setting an example in national and international monetary policy, banking sector regulation, currency management, and supervision.

 

The spokesperson for the Obi campaign claims that the LP is seeking public sentiment as the basis for its judgment

Tosin Ranks
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0
The spokesperson for the Obi campaign claims that the LP is seeking public sentiment as the basis for its judgment

Yunusa Tanko, the spokesperson for the Labour Party Presidential Campaign Council, expressed deep disappointment with the Supreme Court’s response to the party’s numerous appeals.

The highest court in Abuja, on Thursday, rejected the petitions filed by LP’s presidential candidate, Peter Obi, and the People’s Democratic Party candidate, Atiku Abubakar, challenging the election of President Bola Tinubu in the presidential election held on February 25.

In his reaction to the court’s decision, Tanko conveyed, “From our perspective, we presented our cases with overwhelming evidence, but the court chose to take a different stance and ignored our pleas. Their decision has been made.

As believers in democracy, we won’t take any other action but turn to the court of public opinion – the people of Nigeria.

They can evaluate this judgment in the context of their current circumstances and the credibility of the established leadership.”

Tanko further stated, “We will continue to adhere to the principles of democracy.

It’s important to remember that democracy allows people to voice their concerns if they believe they’ve been wronged. We have fulfilled our part, and we now leave this matter to the court of public opinion.”

He emphasized that the party had sought Tinubu’s disqualification due to their belief that he was ineligible to run for office.

Additionally, Tanko pointed out, “We also raised concerns regarding the interpretation of the 25% qualification for the Federal Capital Territory.

We questioned the adherence to electoral processes by INEC in accordance with the Electoral Act, but these issues were not addressed.”

Tanko concluded by indicating that Peter Obi would make announcements about his political future in the near future.

CDMB, SON, and NAQS take the forefront in improving the business environment

Tosin Ranks
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0
CDMB, SON, and NAQS take the forefront in improving the business environment

On Monday, the Federal Government, operating through the Presidential Enabling Business Environment Council, announced the three agencies that excelled in facilitating business operations in the first half of 2023.

According to the 2023 Executive Order Compliance Report released in Abuja, the Nigerian Content Development and Monitoring Board, the Standards Organisation of Nigeria, and the Nigerian Agricultural Quarantine Service emerged as the most efficient organizations in compliance with the 2022 Executive Order 1.

This report, which evaluated government agencies’ performance from January to June 2023, focused on their efficiency, compliance, and their ability to offer timely, cost-effective, and customer-friendly services while maintaining transparency.

The assessment conducted by PEBEC aims to gauge the level of implementation of executive orders designed to enhance the ease of doing business in Nigeria.

Among the top-performing government agencies over the six-month period, the NCDMB led with a score of 83.06%, followed closely by SON at 82.85%, with NAQS ranking third at 69.85%.

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