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Fraud: EFCC Arraigns Stanbic IBTC Manager, Olatunji

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Felix Idowu

The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Office, on Wednesday, March 20, 2019, arraigned Olamide Salvador and Richard Olusegun Olatunji before Justice Sherifat Solebo of the Special Offence Court sitting in Ikeja, Lagos on a five-count charge bordering on stealing, forgery and conspiracy to the tune of N24, 183, 120 (Twenty Four Million, One Hundred and Eighty-Three Thousand, One Hundred and Twenty Naira).

The first defendant, Salvador, allegedly conspired with the second defendant, Olatunji, a manager in Stanbic IBTC, and some others now at large to defraud one Foster Ene of the said sum of money.

One of the counts reads: “That  you, Olamide Salvador, trading under the name and style of Stringent Global Concept; Richard Olusegun Olatunji trading under the name and style as Richard Ventures, Tiwa Onoja (now at large) and Mary Osagie Abiodun (now at large) sometime in December 2016, in Lagos within the Ikeja Judicial Division, conspired to steal the sum of N18, 183, 120 (Eighteen Million, One Hundred and Eighty – Three Thousand, One Hundred and Twenty Naira) only property of Foster Ene, being part of the money he paid to you to secure the United States Dollars and committed an offence contrary to Section 409 of the Criminal Code Law of Lagos State of Nigeria, 2011.”

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Another count reads, “that you, Olamide Salvador, trading under the name and style of Stringent Global Concept, Tiwa Onoja (now at large) and Mary Osagie Abiodu (now at large) sometime in December 2016, in Lagos within the Ikeja Judicial Division, dishonestly converted to the use of Kenechukwu Okafor, the sum of N6, 000, 000. 00 (Six Million Naira Only) property of Foster Ene, being part of the money he paid to you to secure the United States Dollars and committed an offence contrary to Section 278 (1) (b) and (2) (f) of the Criminal Code Law of Lagos State of Nigeria, 2011.”

The defendants pleaded not guilty to the charges preferred against them. In view of their plea, the prosecution counsel, G.C. Akaogu, asked for a trial date and prayed that the defendants be remanded in prison custody.

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However, counsels to the defendants, I. T. Oyedepo and Abdulrahman Dirisu respectively informed the court of bail applications on behalf of their clients.

Oyedepo, counsel to Salvador, (first defendant) prayed the court to grant his client bail in liberal terms in an application dated March 8, 2019. Dirisu, counsel to Olatunji, (second defendant), also pleaded same for his client, pending the determination of the case.

Justice Solebo granted each of the defendants bail in the sum of N10, 000,000.00 (Ten Million Naira) and two sureties in like sum. The sureties must be resident in Lagos with proof of residence, proof of employment and tax payment in the past three years.

One of the two sureties for each of the defendants must also be a property owner in Lagos, which will be verified by the registrar of the court.

Justice Solebo, however, ordered the defendants to be remanded in prison custody pending the fulfilment of their bail conditions and adjourned the matter to April 29 and 30, 2019.

 

Culled: http://themomentng.com

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FIDELITY PRIVATE BANKING HOSTS CLIENTS TO AN EXCLUSIVE EDUCATION ADVISORY FORUM

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Directorate Head, Corporate Bank, Obaro Odeghe presenting a plaque to the Managing Director, Quelu Konsult, Mrs. Margaret Anyigbo at the recently concluded Fidelity Private Banking Education Advisory Forum in Lagos.

Fidelity Private Banking Division organized an exclusive advisory forum at The Café in the Private Banking Suite, Ikoyi. The aim was to provide sufficient information and guidance for select clients who wish to have their children study abroad.

L-R: Managing Director, Lady Maker, Mrs. Ify Azubuike; Divisional Head, Private Banking, Fidelity Bank, Mrs. Chioma Nwankwo; and President/CEO, Anabel Group, Dr. Nicholas Okoye; at the recently concluded Fidelity Private Banking Education Advisory Forum

In her opening remarkes, the Divisional Head, Private Banking, Fidelity Bank Plc, Chioma Nwankwo noted that “Studying abroad is becoming more popular among Nigerian students as the country itself continues to pursue integration into the international landscape. The demand for professionals with global experience is rapidly increasing amongst local employers. Our Private Bank has therefore partnered with Quelu Advising Center over an interactive education advisory session to better equip our high net worth and ultra-high net worth clients for future engagements in this respect”.

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Quelu Educational Center is an advisory company operating under Shorelight group of companies working with top-tier universities to offer services to prospective students who wish to study abroad. The forum which provided sufficient information and guidelines extensively covered;

•               Student profiling

•               Advice on University selection

•               Finding Scholarship Opportunities

•               Application and Admission Process

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•               Visa Application preparation

•               New Educational System

•               Cultural Differences

•               USA, UK, Canada

•               Financial planning to fund school fees

Guests were treated to a scrumptious lunch afterwards.

The session is one of the fora that has been put together by the Division which targets the younger generation with necessary steps toward achieving a greater future as wealth is preserved from one generation to another.

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UBA Boss Advocates Curriculum Overhaul to Equip Graduates for Technology advancement

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The Group Executive Director of United Bank for Africa (UBA), Mr Liadi Ayoku, has called for the overhaul of the training curriculum in financial institutions across Africa to reflect current technological realities, which according to him will reflect the modern business expectations and ensure the relevance of graduates to the continent’s economic growth and aspiration.

Ayoku, said this while delivering a keynote address during the annual lecture of the Faculty of Management Sciences, Lagos State University (LASU) titled: “The Future of Finance – Technology at Play” on Wednesday. He explained that finance graduates and professionals must be aware that it was no longer business as usual following the fast-changing technological landscape.

He said, “I am not certain if the finance and accounting graduates of today are familiar with modern financial softwares packages, including global accounting and financial reporting standards.

“Have they been imbibed with the ready-to-market soft skills like leadership, communication, commercial acumen, flexibility/openness to change and strategic vision? “If not, I will like to propose an overhaul of the curriculum to accommodate these,” he noted.

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Ayoku further explained that with technology replacing basic financing, the finance professional that would excel in the future must be quick to retool and adapt to changes.

“Traditional knowledge of finance is getting stale in today’s business world and indeed there is dire need for retooling our skills if we must remain relevant n tomorrow’s financial world. Technology is fast replacing the basics of finance,” he surmised.

According to Ayoku, financial reporting is increasingly being automated, just as data analytics is demystifying performance analysis. Tomorrow’s finance professionals must have capabilities for business intelligence and cognitive analysis. “We must apprise ourselves of the most recent technology and continue to retool our skills to remain relevant today and into the future,” Ayoku said.

Regional Director, United Bank for Africa Plc, Ms Emem Usoro; Executive Director and Guest Lecturer, Mr. Liadi Ayoku; and Deputy Vice Chancellor, Lagos State University, (LASU), Prof. Oyedamola Oke, during the 2019 Annual Guest Lecture of the Faculty of Management Sciences (FMS) delivered by Mr Liadi titled: The Future of Finance; Technology at Play, held at the University campus in Ojo on Wednesday

Deputy Vice Chancellor, Lagos State University, (LASU), Prof. Oyedamola Oke; Executive Director and Guest Lecturer, Mr. Liadi Ayoku; Dean, Faculty of Management Science, LASU, Prof. Babatunde Yusuf; and Executive Secretary, Institute of Entrepreneurship and Chairman of the Occasion, Dr Rotimi Oladele, during the 2019 Annual Guest Lecture of the Faculty of Management Sciences (FMS) delivered by Mr Liadi titled: The Future of Finance; Technology at Play, held at the University campus in Ojo on Wednesday

Deputy Vice Chancellor, Lagos State University, (LASU), Prof. Oyedamola Oke; Executive Director and Guest Lecturer, Mr. Liadi Ayoku; Regional Director, United Bank for Africa Plc, Ms Emem Usoro; and Dean, Faculty of Management Science, Prof. Babatunde Yusuf, during the 2019 Annual Guest Lecture of the Faculty of Management Sciences (FMS) delivered by Mr Liadi titled: The Future of Finance; Technology at Play, held at the University campus in Ojo on Wednesday

The Chairman of the occasion, Dr Rotimi Oladele, the Executive Secretary, Institute of Entrepreneurship, commended Ayoku for delivering a profound paper worthy of equipping account graduates for a future driven by technology while also praising the Chairman of UBA, Mr Tony Elumelu for his contribution to entrepreneurship in Africa, describing him as a ‘global brand of the rarest value’.  He said LASU would benefit from its collaboration with the entrepreneur.

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“No doubt Tony Elumelu is not just a Nigerian of rare value to Nigeria but a Premium African of rarer value and of course a Global Brand of rarest value. Tony Elumelu today as an ultrapreneur is known all over for breeding entrepreneurs and start-ups in thousands and with millions of dollars ceaselessly in support for sustainability.

“We believe LASU partnering with Elumelu could be the best testimonial of befitting support to the most multi-cultural and multi-tribal university in Nigeria. The profile of LASU Staff and studentship speak for this fact,” he said.

The LASU Vice-Chancellor, Prof Lanre Fagbohun, represented by the Deputy Vice-Chancellor, Prof Oyedamola Oke, thanked UBA for its support and sponsorship noting that a bank that believes in the support of education is indeed a special institution.

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Presidents of Rwanda, Senegal and DRC to Speak at the Largest Annual Gathering of African Entrepreneurs—Tony Elumelu Foundation Entrepreneurship Forum

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African Entrepreneurs

 

  • Over 5,000 participants and 40 speakers expected at the Transcorp Hilton Hotel, Abuja
  • Forum to Feature Plenary Sessions, Masterclasses, a Pitching Competition, Networking Opportunities, UBA Marketplace and the Presidential Dialogue

 

The Tony Elumelu Foundation (TEF), Africa’s champion of entrepreneurship, has announced the line-up of speakers and activities for the 5th Tony Elumelu Foundation Entrepreneurship Forum — the largest annual gathering of African entrepreneurs and the African entrepreneurship ecosystem.



 

For the Forum’s Presidential Dialogue, the President of the Democratic Republic of Congo (DRC), H.E Félix Tshisekedi will join previously announced President of Rwanda, H.E Paul Kagame and President of Senegal, H.E Macky Sall, in an interactive, charged plenary session that opens Day 2 of the Forum. The Presidential Dialogue will be moderated by TEF Founder, Tony O. Elumelu, CON, and will feature all three presidents engaging directly with an audience of 5,000, comprising of entrepreneurs, policymakers, investors and business leaders, with thousands of people interacting live online, through TEFConnect.

 

The Forum presents the largest single annual opportunity for entrepreneurs and policy makers to interact directly and all sessions at the Forum have private sector and public sector leaders anchor panel discussions, masterclasses, and a dynamic pitching competition that will engage an audience of start-up entrepreneurs, development institutions, and policymakers.



 

The speakers expected for this year’s Forum include Prof. Benedict Oramah, President of African Export-Import (AFREXIMBANK); Dr. Akinwumi Adesina, President of African Development Bank (AFDB); Dr. Awele Elumelu, Trustee, Tony Elumelu Foundation and Founder, Avon Medical; Kennedy Uzoka, Group CEO, UBA Group Plc; Mrs. Djene Kaba Conde, First Lady, Guinea; amongst other notable global business leaders. 

 

Every year, the Tony Elumelu Foundation hosts the largest gathering of African entrepreneurs, policymakers and business leaders in one location. This year’s Forum, themed “Empowering African Entrepreneurs”, will take place at the iconic Transcorp Hilton Hotel, in Nigeria’s capital city of Abuja. The Forum will also include the UBA Marketplace, where UBA, Africa’s global bank, brings together businesses from across the continent.  

 

At the 2018 forum, TEFConnect, the largest digital platform for African entrepreneurs was launched to connect entrepreneurs to the opportunities they need for business success. TEFConnect will take centre stage at this year’s Forum as global debates move to technology as a key driver of economic development in Africa.

 

For more information: https://www.tonyelumelufoundation.org/forum2019

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