Tuesday, May 26, 2015

#FuelScarcity may come back. FG's resolution with Marketers yesterday explains why...

So you heard the FG and MOMAN (Major Oil Marketers Association of Nigeria) had an agreement at their meeting yesterday which resulted in 'suspending' the strike and asking marketers to lift fuel and distribute across the nation within 6 hours from the close of the meeting or have depots sealed off.

So is everything sorted out? No.

What do the marketers want?

They want their subsidy debts paid and the foreign exchange increase(dollar)/bank interests/charges to be covered by this government before its tenure expires as the banks have deducted debts owed from the initial money the FG paid them, hence, they cannot pay transporters. Who wants to negotiating on subsidy with Buhari who says he doesn't know what subsidy means?

What does the FG want?

Okonjo-Iweala, coordinating minister of the economy says the N159 billion of marketer's claim is fraudulent, and she will not pay such, and the marketers are sabotaging the economy.

Way Forward?

The senate committee came to a decision which both parties agreed to. The committee set up by the FG to verify marketer's claims must finish its job and submit its report before the end of this government's tenure (which I think is unlikely) or the FG should state in its handover note to Buhari's government that the FG is in the process of negotiating with marketers, and they should be paid their balance.


If the FG's committee's report does not favour the marketers or Buhari decides to do his own verification of the marketers claims and goes ahead to remove subsidy, the horrible drama we have witnessed in the past few days may likely re-occur. raises N250 million!!!

Firstly, congrats to Mark Essien and team. A small scrappy startup has made a massive step forward with yesterday’s announcement of his Series A round. Getting to this point has not been easy. Although Mark is arguably one of the most impressive Nigerian technology entrepreneurs, the funding environment over the last few years has been completely unforgiving. Even to one of our brightest stars. 
Mark would’ve been successful regardless. From when we first connected I knew there was something potentially amazing happening. 
I have heard mentioned how funding events should not be celebrated. I disagree. Everyone who has actually been through one understands the emotional energy expelled, just getting the deal closed. Even now after several years, Bastian and I still find the process challenging. In the West, most startups don’t get funded. In Africa that margin is slimmer. My belief (and hope) is that this changes. With Omidyar and EchoVC stepping in to fill the next stage ($500-2m), my hope is that others follow suit. Bastian has been meeting with prospective funders for years. But rarely do they pull the trigger. We welcome and thank Omidyar and EchoVC for taking a lead in the next generation of internet companies in Nigeria. 
From a Spark perspective, this is the first great validator to our portfolio. As the funding environment dried up over the last few years, some of the earlier bets we have made back in 2013 were significantly undervalued (or not valued at all). From Hotels to ToLet to Drinks, they have all been able to fight their way to cash flow positivity and reach a degree of traction without burning through tons of capital. Others have succumbed to execution risk and a lack of follow-on capital. This is the nature of the game. Some you win, some you lose. Over my 11 years as an entrepreneur, I have witnessed more failure than success. But on average, things are good. On paper, the investment in has gone up x5. This is a first step. We expect this to rise considerably over the next few years. Yet, at the end of the day, we are happy to be part of the journey. 
We are children of the internet. We belong to the future. Only the young, fearless and ambitious can capture the value around us in Nigeria and Africa. Because we view the world from a different perspective. Back in Jan 2012, I felt that way. Today it’s exactly the same. We need to solve the big challenges around us. If we do, then we can collectively make a dent in the universe. 

Source: Jason's Blog

Soldiers Hijack Capital Oil, Buy Petrol in Drums [Punch/Linda]

CEO of Capital Oil, Ifeanyi Ubah made an announcement on Sunday that his company would release 13 million liters of fuel to help out with the fuel scarcity situation in the country since then officials of the Nigerian Army have taken over the Ojodu Berger outlet of Capital Oil, buying petroleum products in drums, after they had scared away thousands of prospective consumers.

The armed personnel came pretending to maintain peace and order, but they soon abandoned their primary responsibility and started buying fuel in drums.

They shoved, maltreated and chased off those who were on queue to tend to themselves.

The military officials who were fully dressed had taken over the only two pumps that dispensed the Premium Motor Spirit.

There was an unregistered white Isuzu truck the soldiers had been using for the ‘deal’ and this truck had visited the filling station for the fourth time and each time bought fuel.

The fourth truck was loaded at 8:50pm on Monday night.

The vehicle, on each visit, left with at least 14 drums and dozens of gallons filled with fuel.

Helpless consumers, some of who slept at the filling station, suspected the soldiers were buying fuel to sell to sell in Lagos black market.

Those who complained about what was going on were severely beaten

By 9pm on Monday, not more than a hundred cars left the station with fuel.

Source: Punch

REVEALED: Shocking Criminal acts that made NAFDAC to seal Chocolat Royale

The real reasons the National Agency for Food and Drugs Administration and Control (NAFDAC) Tuesday night, sealed completely the business outlet of a popular elite and confectionary company, Chocolat Royal has emerged, The City Reporters can exclusively report.
Apart from the importation, storage and use of fake, unregistered and expired/unwholesome food products to produce consumables for customers, we can authoritatively report that Chocolat Royal was sealed by NAFDAC on discovery of six illegal 40ft cold rooms fully stocked with contaminated food products built on top of sewages (suck away pit) and in front of toilets.
Not only that majority of these food products discovered, have expired since 2004, (11- years ago) and the least 2013, the most worrisome aspect of it all was the discovery to the consternation of NAFDAC officials that the management of Chocolat Royal had revalidated the expiring dates of almost all the food products, while 90 % of them were not even written in English language and therefore not registered.
While two of the illegal cold rooms built in front of toilets were discovered at the Chocolat Royal headquarters at 267A Etim Iyang Crescent, another two were discovered and also sealed at N0 1 Karimu Kotun resident of the Chairman, Mr Amin Moussalli both located in Victoria Island Lagos.
Investigations revealed that Mr Moussalli the chairman of AIM consultants with chains of media houses which include, Cool, Nigeria Info, Wazobia FM stations, Cool as well as WEE television stations who is now at large travels abroad to source for companies whose food products have few months to expire.
This Lebanese business mogul receives these products mostly for free or at a reduced price and also gets paid from these companies to evacuate the products which ordinarily would have cost them colossal amount of money to dispose and ships in large quantities to Nigeria which has become his dumping ground for food toxic for close to two decades.
These products are then cleared at the wharf and offloaded inside the two cold rooms at his Karimu Kotun resident, Victoria Island where they are then transferred to Chocolat Royal headquarters and then used to prepare ice creams, chocolates, beverages and pastries for members of the public.

Friday, May 22, 2015

Part 3: Suicidal Adebayor reveals more about his Family Problems. [MUST READ]

Emmanuel Adebayor's photo.

25 years ago, my big older brother Kola went to Germany and he became the hope of our family. We all thought he could change the way we were living. Years after he left Togo, we still had no electricity and no phones. If he wanted to talk to us, he would call the Atlantic Hotel that was very close to our house. We would then run to the hotel reception and talk to him. 

When I got the opportunity to go play football in France for the first time, we needed money to for the flight tickets and other expenses. My brother was nowhere to be found. Only God knows what he was doing in Germany. 

When I arrived in France, I did all the paperwork with my team and they allowed me to stay in the academy. A few months later, my brother wanted to come visit me. I was running out of money and I was living at the academy. Therefore, I had to borrow money so I could pay for his hotel. At that time, my teammate Sega N’diaye from Cameroon was kind enough to lend me some money. I also had to borrow some more money because I had to give my brother some money for his trip back to Germany. Keep in mind he is my older brother.

Thursday, May 14, 2015

Shocking details and pictures of Lekki Armed robbery suspects

Remember the Lekki bank robbery which killed a 15 year old girl hawking fish and four others back in March? Four members of the 22 man gang have been caught and yesterday they were paraded to the public by the Nigerian police.
The four have been identified as: Duke Odogbo, 38; Lawrence Kingsley, 31; Ebi Tosan, 20, and Ekelemo Kuete, 30.
According to Vanguard the following were recovered from the suspects: a 2008 model Honda Accord car purchased by one of the suspects from his share of the loot; a white Blackberry Z10 phone, one Apple i-Phone 5, one military face cap, and 120 expended ammunition.
38 year old susspect Duke Odogbo told the crowd that of the N15 million loot stolen from First City Monument Bank, his share was N500,000.
After the jump read his account of the attack which left 5 people dead and made him N500k richer.
I was invited by a friend from Warri, Delta State, to come for bunkering job. But on reaching Lagos, I was told it was a bank robbery. I told them I was into bunkering and not robbery. But because they told me we were going to make much money from it, I decided to join them. On the day of the operation, we left Tarkwa Bay at about 4.30 p.m., in two boats; with 11 persons on each. But one of the boats developed fault on the way. We all entered the good one. We got to the bank few minutes after 5 p.m. Immediately we left the canal, some of us went to the road and started firing, thereby making way for those of us that would go inside. I led the team that went in. We were all putting on Army camouflage. I shattered the entrance glass with bullets and when we got inside, we demanded for the money realized for that day. The manager told us they did not make much.
But we broke into one of their strong rooms where we got some money. We also broke into two ATM boxes, but there was no money in either of them. We told ourselves that the operation must not exceed 40 minutes.
To my surprise, by the time we were leaving, I discovered that my colleagues were with seven extra rifles. When I asked, they said they saw some policemen in a van, concluded they were there for us and shot at them. I was not the one that shot the policemen. I did not kill anyone. It was when we got to the forest, located in an island in Ikorodu that we discovered that the amount stolen was N15 million and I got N500,000. I used my share to boost my bunkering business.
Another one of the four suspects said he was only the driver of the speed boat which transported the robbers. He got paid N50,000 for his role in the horrific attack.


Sunday, May 10, 2015

Adebayor pens note of frustrations from dealing with his 'African Family'

SEA, I have Kept thesis stories for a long time goal I think today it is worth sharing with you Reviews some of 'em. It's true That family matters shoulds not be solved internally and in public purpose I am doing this so all families Hopefully That can learn from what happened in mine. Also keep in mind That none of this is about money.
At the age of 17, with my first wages as a footballer, I built a house for my family and made sour They Are Safe. As you all know, I have received the trophy of African Player of the Year in 2008. I aussi brought` my mother with me on stage to thank her for everything. Fait que same year, I brought` her to London for various medical check ups. When my daughter Was Born, we contacted my mum to inform her goal she hung up the phone immediately All About did not wanna know and hear about it. Reading your recent comments, some people said my family and I shoulds consult TB Joshua. In 2013, I gave my mother money so She Could consult _him_ in Nigeria. She Was Supposed to stay for 1 week; Goal 2 days into her stay, I received a call Saying she left. Apart from the All That aussi gave my mother a great amount of money to start a business of cookies and different items. Naturally, I allowed 'em to put my name and picture on em So They can sell more. What else can have her do in His power to Support His Family?
A Couple years ago, I bought a house in East Lagoon (Ghana) for $ 1.2 million. I found it normal to let my older sister, Yabo Adebayor stay fait que house. Aussi I allowed my half brother (Daniel) to stay in the same house. A few months later, I Was on vacation and Decided to go to That House. At my surprise, I saw cars in the driveway Many. In fact, my sister Decided to rent out the house without me Knowing. She aussi Daniel kicked out of That House. Note que la HAD house about 15 rooms. When I called her and Abebooks web sites for explanation, she Took about 30 minutes to abuse and insult me ​​over the phone. I called my mother to explain the circumstances and she About did the same as my sister. This same sister says I am ungrateful. Ask her about the car she is driving or anything performer is selling today?
My brother Kola Adebayor, Has-been now in Germany for 25 years. He Travelled back home about 4 times, at my expense. I fully cover the cost de son children's education. When I was in Monaco, he cam to me and Abebooks web sites for money to start a business. Only God knows how much I gave _him_. Where Is That business today?
When our brother Peter Passed away, I feel a great Kola amount of money so he could fly back home. He never Showed up at the burial. And today That Same brother (Kola) is telling people That I am Involved in Peter's death. How? He is the same Who Went brother and Told Inaccurate stories about our family to "The Sun" in --other to Take Some money. They sent a letter to aussi my Club When I was in Madrid so I Could get fired.
When I was in Monaco I Thought It Would be good to-have a family of footballers. So I made my brother sour Rotimi gets into a soccer academy in France. Within A Few months; out of 27 players, he stole 21 phones.
I would not say anything about my brother Any Peter Adebayor Because He is not here today. May His Soul rest in peace.
My sister Lucia Adebayor keeps telling people That my dad Told me to bring her to Europe. Purpose What Would be the purpose to bring her to Europe? Everyone is here for a reason.
I Was in Ghana When I received the news about my brother Peter being white gravement ill. I drove the fastest I Could to Togo in order to meet _him_ and help. When I arrived, my mother Said I Could not see _him_ shoulds and I just give the money and She Would solve everything. Only God knows how much I gave her That Day. People are Saying I did not do anything to save my brother, Peter. Am I a fool to drive 2 hours to Togo for nothing?
I Organized a meeting in 2005 to solve our family issues. When I Abebooks web sites Their opinion about 'em, They Said I shoulds Each family member build a house and give Each of Them has monthly wage. Today I am still alive and They Have already shared all my goods, just in case I die. For all thesis Reasons, it Took very long for me to set up my foundation in Africa. Every time I try to help the people in need, They Had to issue me and all of Them thought It was a bad idea.

If I am writing this, the main purpose is not to expose my family members. I just want --other African families to learn from this. Thank you.
I kept his stories for a long time but now I think it's good to share with you. It is true that business families must be settled with the family and not in public, but I do it so that other families learn the lessons. Note that all this is not about money.
At the age of 17, with my first wages footballer, I built a house for my family and I made sure they were safe. As you know, I was elected "Best African Player" in 2008. On this occasion I took my mother to the podium to thank her for everything. During that year, I made sure she comes to London for several medical visits. When my daughter was born, we called my mother to inform her directly but she hung up. Reading your comments, some propose that I go see Pastor TB Joshua to talk about family problems. As done in 2013, I give money to my mother to see this pastor in Nigeria. She had to stay for 1 week, but two days later they called me to say what part. On top of that, I gave a large sum to my mother to start a business of biscuits and other products. Naturellememt, I shall place my name on it to sell more. What else can a son to support his family?
There are some years I bought a house for $ 1.2million in Ghana. I found normal to put my big sister Yabo Adebayor in this house, and my half brother Daniel. A few months after I returned from vacation and I noticed there were a lot of cars outside the house. The truth is that my sister rented the house without telling me. It also referred Daniel's home. Imagine this maiso had around 15 rooms. When I called to discuss, she insulted me on the phone for 30 minutes. My mother did the same. This same sister says I am ungrateful. Ask him about the car she drives or what it sells today.
My brother Kola is in Germany for 25 years and returned home only 4 times, at my own expense. I bear the costs of studies of her children. When I was at Monaco, he came REQUEST IT me money to start a business. Only God knows how he got me. Where is this business today?
When our brother Peter died, I sent a large sum in Kola so he could return home. We do not see the funeral. Now he announces that I am involved in the death of Peter. How? It's the same brother who pocketed money from "The Sun" for telling inaccurate stories about our family. They also sent a letter to my club when I was in Madrid to fire me.
When I was at Monaco I thought it would be nice to have a football family so I found a football academy for my brother Rotimi in France. Some me after he stole 21 Phones of his teammates. There were 27 players in the team.
I would not say anything about my brother Peter Adebayor who died. That his soul rests in peace.
Sister Lucia Adebayor tell people that my father told me of the taken in Europe, but I refused. What would be the purpose of taking him to Europe? Everyone is here for a reason.
I was in Ghana when I received the news that my brother (Peter) was seriously ill. I drove in Togo as soon as possible to offer my help. When I arrived, my mother disc I can not see it. She said to give her the money and she would take charge of the guérrir. God knows how I gave him. And people always say I did not do anything to save my brother. You think I drive two hours to Togo for nothing?
I organized a family reunion in 2005 to solve all the problems. When I asked their opinion, they wanted that he offers them a house to each family member and I give them a monthly salary. Today I am alive but have already shared all my possessions. For all these reasons, my foundation has had trouble starting. Each I want to help the poor, they oppose it.
If I write this, the main objective is not to expose my family. I just want other African families learn from this. Thank you.

Monday, May 4, 2015

[PICS] Chinese women demand & get refund from 'Lauryn Hill' show promoters

Funny pics shared by Linda show Chinese ladies demanding for and getting back their monies paid for a show they expected to see Lauryn Hill perform but she did not show up.
Nigerians can learn a lot from this women and demand for our rights and make businesses respect the rules...

Man begins trek to Otuoke from Abuja to Thank GEJ & clean GEJ's home

Just when you thought you had heard it all.
Oladele John Nihi, a young nigerian, has decided to trek to otuoke to thank GEJ for keeping Nigeria's democracy.
He intends to get to otuoke before the handing over and clean GEJ's home villa.

We wish him a safe trip and hopefully the armed men at GEJ's residence lets him in :D

Below are tweets from the GEJ trekker... You can follow him on twitter.