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Showing posts with the label Business

Finally, NAFDAC Lifts ban off Emzor, Two Others over Codeine Syrup sale

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National Agency for Food and Drug Administration and Control (NAFDAC) has lifted the shutdown order on three pharmaceutical namely Peace Standard Pharmaceutical Limited, Bioraj Pharmaceutical Limited and Emzor Pharmaceuticals Industry Limited over the codeine syrup scandal. 

Nigerian woman kicked out of US airline for having 'Body odour'

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Nigerian woman is taking United Airlines to court, alleging that the carrier racially discriminated against her by removing her from her flight at Houston’s Bush Intercontinental Airport after a fellow passenger complained that she had a “pungent” odour.

JAMB generates N8.5billion revenue from sale of forms in 2018

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The Joint Admission and Matriculation Board has generated N8.453billion from the sales of forms to applicants seeking admission into tertiary institutions in Nigeria in 2018.

Ponzi Scheme: Nigerian man sues EFCC, others for defamation, harassments over Swiss Golden

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Nigerian man, Dickson Nonso Onuchukwu has dragged the Economic and Financial Crimes Commission (EFCC), the Inspector-General of Police (IG) and the Lagos Police Commissioner to court for alleged defamation of character, harassment and unlawful detention. Onuchukwu, who had been arrested several times by the security agencies, was recently paraded by the EFCC together with one Augustine Emenike and a Russian, Max Lobaty as the faces behind Swiss Golden International Company. The commission, which described the online gold networking business as a ponzi scheme, had declared on all its social media handles that the sum of N216 million was recovered from the company following petitions by some Kano residents that they were scammed of their money. But in a twist of events, Onuchukwu, who said he was first arrested by the EFCC in November at his office (Swiss Golden Africa) in Ikeja, said he had provided documentary evidence to the agency that he was not an affiliate of Swiss Gold...

China, Nigeria sign currency swap deal

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Central bank of China otherwise known as the Peoples’ Bank of China, PBoC, on Thursday revealed that it has signed a currency swap agreement with its counterpart in Nigeria. According to a statement on the official website of the PBoC, the agreement will allow the two sides to swap a total of 15 billion Chinese yuan ($2.35bn) for N720bn, or vice versa, in the next three years. It added: “The move is aimed at facilitating bilateral trade and investment and promoting the financial stability of both side. “The deal can be extended by mutual consent.”

CEO of Facebook, Mark Zuckerberg announces plan to launch dating service

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On Tuesday, Mark Zuckerberg announced Facebook will soon include a new dating feature vowing to make privacy protection its top priority in the wake of the Cambridge Analytica scandal.   Zuckerberg unveiled the plans as he addressed Facebook’s annual developers conference in San Jose, California emphasizing that the focus would be on helping people find long-term partners. “This is going to be for building real, long-term relationships, not just hook-ups”. He said in presenting the new feature, noting that one in three marriages in the United States start online and that some 200 million Facebook users identify as being single. Under the new feature, users will be able to create a separate “dating” profile not visible to their network of friends, with potential matches recommended based on dating preferences, points in common, and mutual acquaintances.   Zuckerberg did not specify whether the feature would be free of charge, in line with Facebook’s core offer but th...

There was no Fire Outbreak At our Headquarters..- CBN Denies reports

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Yesterday, the social media went agog after news broke that the  Central Bank of Nigeria was in fire. debunked claim of fire at its headquarters in Abuja, saying that it was just smoke from a generator. The apex bank in a statement issued by its spokesperson, Isaac Okorafor said “Reports that the Central Bank of Nigeria head office building is on fire are false.” Okorafor said that the smoke came from the generator house of the bank which he said was far away from the main building According to him, passersby who saw a pall of exhaust from the generator house far away from the building apparently mistook the exhaust for fire smoke. He added that the CBN maintained a total security system that triggered safety alarms in the presence of smoke, saying that all fire engines and personnel received the alert only to discover that it was an unusual pall of exhaust.

Photo of Emzor's sales man accused of illegally selling codeine syrup to people

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As Controversies continue to trail the illegal sales and consumption of  codeine in northern Nigeria, BBC has shared the photo of a sales rep at Emzor (one of the largest pharma companies in Nigeria) who illegally sold them 60 bottles of codeine syrup “fresh from the oven.” According to BBC, the unamed man has since been fired  by Emzor ever since the news broke. Say no to drug abuse.

CBN limits daily mobile transfer to N100,000.. Read Why!

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Central Bank of Nigeria CBN, has pegged the maximum transfer from mobile phones using short codes at N100,000. According to a statement from the director, banking and payment system of CBN, Dipo Fatokun, the decision was made because of the risk associated with mobile banking. The bank says the new directive will take effect from June 2018. “Concerns have been expressed on the likely exposure of CBN approved entities to the possible breaching of the USSD accessed financial services in view of likely vulnerabilities in the technology and the ever-growing threats,” the circular read. The bank added that any customer that would like to do transactions over N20,000 will require a pin and soft token which they would get from their banks.  “Put a limit of N100,000.00 per customer, per day for transactions as may be required. However, customers desirous of higher limits shall execute documented indemnities with their banks or MMOs. Mandate the use of an effective 2nd factor auth...

Just like MMM, Heads Of Another ponzi scheme ‘Swiss Golden,’ arrested for defrauding Nigerians to the tone of 3billion

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Economic and Financial Crimes Commission (EFCC) has arrested one Maxim Lobaty, a Russian and other two Nigerians: Austin Emenike and Dickson Nonso Onuchukwu in Lagos. They were arrested for defrauding over seven thousand Nigerians to the tune of over N3 billion in the guise of running a financial scheme. This was sequel to a petition received from complainants who had invested millions in the scheme. The anti-graft agency in a statement said the sum of N216,402,565.05 was recovered from Swiss Golden Investment, an online investment company. “The trio were subsequently conveyed to the Kano operational zone of the EFCC for further investigation. “Swiss Golden was discovered through investigation to be a Ponzi scheme that was designed to defraud innocent victims of their hard earned money. “After being drilled at the commission’s Kano zonal office, Maxim and his co-suspects consented to the refund of the investment. Subsequently, a total sum of N216,402,565.05 have now...

22 Workers of Kenya Airways SACKED!

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No fewer than 22 workers of the Kenya Airways which are Nigerians have been sacked.  According to a report by Punch, only four Nigerian staff are currently retained by the management of the airline after the exercise.  Those retained are Country Manager, Afeez Balogun, the Station Manager, and two other staff.   The report also states “the sacked staff were issued the disengagement letters at the airline’s office in Lagos in the presence of stern-looking police officers who were engaged by the airline to scare away the affected staff and prevent possible breakdown of law and order”.  The source also said that the “affected staff were only given four weeks wages on disengagement by the management”.   And that the abrupt sack of the Nigerian workers “happened when the airline was still negotiating a new condition of service with the industry unions.

Ortom's Government Puts Morden Market,Benue Links & 9 Other State Owned Company On Sale.. See LIST

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Governor Samuel Ortom's led-administration has put some states owned company on sale.  The reason for the sale is still not stated but sources who reached out to Queendoosh.co , said the move may be connected with the efforts by the Benue state government too raise fund in order to clear workers salaries. These are state owned company slated for sale are as follows.... 1. Modern Market 2. Benue Links 3. Taraku Mills Ltd ,vegetable oil and refiling plant. 4. Mega Foods and Beverages processing company LTD Tomatos Mango factory Wannune. 5. BENFRUIT NIG LT(The Makurdi Fruit juice processing factory). 6. Bennims Plastic NIG LTD 7. Katsina Ala Yam Flour factory LTD 8. Agricultural Development company LTD. 9. Fertilizer Blending Company LTD 10. Otukpo Burnt Brick LTD 11. Benue Roof Tiles LTD Abinsi See letter...

Founder Of MMM Dies From Heart Attack..

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The Founder of the MMM Ponzi scheme, Sergei Mavrodi, has died of a heart attack at the age of 62. The Russian businessman was reportedly rushed to the hospital late on March 25 with pain in his chest and died several hours later. Mavrodi started the MMM financial pyramid, a Ponzi scheme that deprived millions of Russians their savings in the 1990s. The scheme promised returns of 20 percent to 75 percent a month for investors. However, as soon as the number of new clients stopped growing, the pyramid collapsed, causing huge financial losses for at least 10 million people, in some cases leaving them destitute. A Moscow court found Mavrodi guilty of financial fraud in 2007 and sentenced him to 4 1/2 years in a penal colony. He later launched another pyramid scheme called MMM-2011, calling on investors to purchase so-called Mavro currency units in a bid to get rid of the "unfair" financial system. The project was however halted after a few months. Then, between 2011...

Nigeria’s External Reserves Hits $46bn

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 Central Bank of Nigeria (CBN) has said Nigeria’s External Reserves is steadily growing and currently stands at 46 billion dollars. Daily post reports that, CBN Spokesman, Isaac Okoroafor, said in a statement on Sunday that the reserves grew by about 3.2 billion dollars between February and March 2018. He said that the reserves at the beginning of 2018 stood at 39.3 billion dollars, then rose to 42.8 dollars in February before hitting the new high of 46 billion dollars. Okoroafor attributed the continued accretion to the country’s reserves to the Bank’s effort at vigorously discouraging unnecessary importation and reducing the nation’s import bill, inflow from oil and non-oil exports. He also attributed the increase to the huge inflows through the investors and exporters window of the foreign exchange market, which he said had attracted over 33 billion dollars since April 2017, when it was created. According to him, “the Bank’s interventions in the foreign exchange w...

Thailand Ambassador Calls ‘Audu Ogbeh a Liar’, Rejects Minister’s Claims on Rice Imports

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Thailand’s ambassador to Nigeria, Wattana Kunwongse, has rejected as falsehood, claims reportedly made by the Minister of Agriculture and Rural Development, Audu Ogbeh, that Thailand accused Nigeria of being responsible for the collapse of its seven rice mills following the drastic fall in rice importation from the country. According to the ambassador's letter sent to Premium Times on Tuesday, described the minister’s claim as “misleading and a distortion of the actual discussion that transpired between them”. A News Agency of Nigeria report on Friday showed that Ogbeh made the claim, at a meeting of the Presidential Fertilizer Initiative (PFI) and the leadership of the Fertiliser Producers and Suppliers of Nigeria (FEPSAN) held at the Council Chamber of the Presidential Villa, Abuja. According to the report, the minister said “just like two weeks ago, the Ambassador of Thailand came to my office and said to me that we have really ‘dealt’ with them. “But I asked what di...

CBN Cautions Nigerians About Investing In Bitcoin, Other Crypto Currencies

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 Central Bank of Nigeria (CBN) has again cautioned Nigerians to be wary of investments in crypto currency as they are virtual currencies that are not legal tender in Nigeria. Acting Director, Corporate Communications, Isaac Okoroafor, gave the warning in a statement on Wednesday. He noted that crypto currencies such as Bitcoin, Ripples, Monero, Litecoin, Dogecoin, Onecoin, and Exchanges such as NairaEx were not licensed or regulated by the CBN. Okoroafor said “dealers and investors in any kind of crypto currency in Nigeria are not protected by law, thus may be unable to seek legal redress in event of failure of the exchangers or collapse of the business.” The CBN further warned Nigerians against investing in crypto currencies as doing so would be at their own risk. Bitcoin was the best performing currency of the year 2016. It appreciated from four cents in 2010 to over $1,000 in 2017.

SAVAGE!! Africa/Nigerian Richest Woman, Folorunso Alakija 'DRAGGED' On Twitter And It Not So Cool A Comment!

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The African Richest woman, Folorunso Alakija took to twitter saying she's accepted an oil block by faith but a twitter user was not having any of that as he savagely dragged over 'faith' comment. The moment she mentioned acceting oil blocks by faith.. She was mocked by a twitter user who felt she was lying about getting it by faith insteading of saying the truth. Nigerians have no chill. Lol.  See their exchange below...

36m JAMB SCANDAL: Watch The Shocking Video Of JAMB Clerk, Philomina Chieshe, Confessing How Snake Mysteriously Swallowed N36 Million In Benue State [VIDEO]

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This issue has refused to die down because Nigerians are not buying into the snake story saga of eating raw 36milliin cash. Now ,Nigerians are scared a lion might swallow our CBN. Lol. Well, TheSunNews Nigeria has released video evidence of the shocking moment a sales clerk, Philomina Chieshe, in the Makurdi, Benue office of the Joint Admissions and Matriculation Board (JAMB), told Board auditors that a snake sent by her maid swallowed N36 million in cash from the sale of admissions' scratch cards over the course of several years.  Click below to Watch....

Bill Gates To Be Guest At Aliko Dangote’s daughter Wedding In Lagos,Nigeria

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The weddings ceremony of  Fatima Dangote and her fiance Jamil Abubakar  is coming up in March 2018 at Eko Hotels and Suites, Lagos Nigeria. The wedding of Fatima, the daughter of Africa’s richest billionaire, Aliko Dangote and Jamil, the pilot son of former Inspector General (IG) of Police, MD Abubakar will bring together the elite all over the world and that includes former world's richest man, Bill gate.  According to reports, about five presidents in the world and all the past presidents of Nigeria are billed to attend the weddding as well as world’s renowned billionaire philanthropist and Microsoft boss, Bill Gate, has confirmed his intent to attend the wedding.

''Benue People Are Boycotting Us And Also Cutting Their Nose''..- Hausa/Fulani Laments Over Poor Patronage Of Their Market In Benue State [See PHOTOS]

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This article was posted by a supposed pastorialist and many people are condemning the article saying it portrays hate.