News
Zenith Bank Manager Testifies in Emefiele Trial Over Alleged Financial Transactions
Mrs. Ifeoma Ogbonnaya, an Assistant Manager at Zenith Bank Plc, testified in the Ikeja Special Offences Court about alleged financial irregularities involving former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, and his wife, Margaret Emefiele. She detailed how funds were purportedly transferred through Zenith Bank to companies linked to Mrs. Emefiele, including Amswing Resources and Solution, Limelight Dimensional Service Ltd., Omec Support Service Ltd., and Mango Farm. Ogbonnaya, who joined Zenith Bank in 2006 and serves as a Business Relationship Manager, stated that she received instructions from Mrs. Emefiele and others associated with her to facilitate these transactions.
According to Ogbonnaya, the transactions involved significant sums, such as ₦18.9 million and ₦1.8 million in March 2015, and subsequent flows including ₦43 million in February 2021, ₦37.3 million in July 2022, ₦44.6 million in October 2022, and ₦93.1 million in May 2023, among others. She testified that all transactions underwent verification and approval by Mrs. Emefiele before processing, often communicated through email, phone calls, and WhatsApp.
The prosecution presented documents supporting these claims, which were admitted into evidence without objection from the defense. Emefiele, who faces charges related to abuse of office and financial misconduct during his tenure at the CBN, has pleaded not guilty. The trial is set to continue on July 10, following procedural discussions in court.
News
FCCPC to Find Out Why Uber Exited Nigeria Amid Consumer Concerns
It has been reported that the Federal Competition and Consumer Protection Commission (FCCPC) is planning to investigate and find out why Uber left Nigeria.
While FAAN has shared that it had no involvement in Uber’s exit, the FCCPC stated that it will find out what led to the decision, following concerns and complaints from users about the company’s exit.
FAAN also shared that it understands consumers’ concerns, as people are worried about the holiday period, when people coming into the country may need rides and Uber is no longer available, as it was a reliable source of transportation.
Business
FAAN Breaks Silence on Claims Over Uber’s Departure From Nigeria
Since Uber exited Nigeria, rumours have been circulating over why the company left the country. One of the claims suggested that FAAN was part of the reason for the exit.
The Federal Airports Authority of Nigeria (FAAN) has now addressed the rumours and claims of its involvement in Uber’s decision to leave Nigeria.
FAAN said it could not speak for Uber’s decision, noting that the company likely had its own economic and regulatory considerations for leaving Nigeria.
FAAN’s Managing Director, Olubunmi Kuku, said “I can’t speak to Uber’s exit from Nigeria. I am sure they have their own economic and regulatory decisions as to why they chose to exit.”
News
Governor Umo Eno Reveals He Made ₦10m Monthly Selling Akara And Bread
Governor of Akwa Ibom, Pastor Umo Eno, reflected on a career choice he made when he had no choice back then.
The governor recalled how he made not less than ₦10 million in a month from selling bread and akara.
He stated “I started selling Akara and bread. Back then, I was doing Akara Burger — we opened the bread and put Akara inside for you. I made not less than ₦10 million in a month.”
Many Nigerians reacted and wondered if his reflection was in response to what the First Lady advised Nigerians earlier about selling corn.
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