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Business

REVEALED!!! How OPC Boss, Gani Adams disregarded Ooni Of Ife, Oba Ogunwusi + How he collected $22m from Gaddafi

Published

8 years ago

February 15, 2016

Sahara Weekly

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Some state chairmen of the Odua’ Peoples Congress have called on the President Muhammadu Buhari led government and the Economic and Financial Crimes Commission to investigate Mr. Gani Adams, who they referred to as a former OPC National Coordinator.
While accusing Adams of financial impropriety, they also called on the EFCC to investigate some aides of Adams such as Ogunshola Olugbade and Femi Felix, who they referred to as his fronts.
They spoke on Sunday during a media briefing in Ilorin, the Kwara State capital.
The OPC Kwara State Coordinator, Mr. Maruff Olanrewaju, who addressed the media conference on behalf of other six states’ coordinators was flanked by the Oyo State Coordinator, OPC, Chief Adeagbo Musediq; his Ondo State counterpart, Mr. Rotimi Akinsonwon, a member of the National Coordinating Council, Mr. Lateef Oshodi; a former National Publicity and Director of Programmes, OPC, Mr. Sunday Bankole as well as some other national and Kwara State executives of the organisation.
Olanrewaju said, the Delta State coordinator, Mr. Hakeem Agbo-ola; his Sokoto State and Kaduna State counterparts, Alhaji Yekini Salaudeen and Alhaji Rasaq Ogunsanwo respectively and that of Bayelsa State though absent were in agreement with their position.
He said, “We also call on President Muhammadu Buhari and the EFCC to investigate all Gani Adams banks accounts; Ogunshola Olugbade’s account as well as Femi Felix account from February to November 2015.
“Moreso, President Muhammadu Buhari-led administration should give very closed monitoring to the bank and industry sectors because how can someone within a month save more than a billion in an account without any alarm from the bankers?”
He accused Adams of planning to unleash violence in Kwara State and urged the state government, security agencies to closely monitor the activities of Adams in the state.
According to him, Adams is planning to storm Ira, Oyun Local Government on March 12 allegedly with his hoodlums.
He said Adams was removed as national coordinator of OPC because he allegedly failed the entire members of the organization and allegedly betrayed the entire Yoruba race.
He accused Adams of disrespecting Yoruba leaders including the Ooni of Ife, Oba Adeyeye Ogunwusi.
Olanrewaju said, “Just of recent, you are all living witnesses when a former President of Nigeria, Chief Olusegun Obasanjo went to Oni of Ife, he prostrated flatly before Oni. But when Gani Adams went, he just bowed his head with hand shake to Oni. That is disrespectful.
Adams is a disgrace to Yoruba culture. When you are promoting culture and you cannot bow in front of one of the most highly respect Oba in Yoruba land that is unacceptable.”
The Kwara State OPC boss further said Adams was not financially transparent to members of the organization.
According to him, Adams had collected N1.6bn from a former President, Dr. Goodluck Jonathan for empowerment of the members, which he did not make the members to benefit from.
He also alleged that Adams collected N9bn from Jonathan’s government allegedly to destabilize the Yoruba race as well as allegedly received take off grant from Jonathan for pipe-line surveillance contract which OPC members executed only to allegedly deceive the OPC members who he said actually executed the contract that the contract money had not been paid.
Olanrewaju said, “Adams promised our members that if Jonathan released money, each member will get between N200,000 and N250,000 as empowerment. When Jonathan released N1.6bn through Musiliu Obanikoro, for that empower, there was nothing to show for it.
“He should explain how Jonathan’s money was spent. Before the election, there was a publication by a former National Publicity Secretary of the All Progressives Congress now Minister of Information and Culture, Alhaji Lai Mohammed that Adams had collected N9bn from Jonathan to disorganize the Yoruba race. We denied that but later we came to the realization that truly he collected the money.
“At the first meeting after the election, he told us that he spent N800m on OPU outside the country. Where did he get the money? He also bought some properties. After the election, he went to London to establish Odua Voice Radio, which cost him thousands of dollars. Where did he get the money from if he did not collect N9bn from Jonathan?”
According to the Kwara OPC boss, Adams collected $22m from a former leader of Libya, late Muammar Gaddafi. He further alleged that Libyans had been demanding for the refund of the money.
“Adams should explain how Jonathan’s money was spent. We demand immediate reaction to the allegation of $22m Gadaffi money. He should show to the world the registration certificate of Olokun Festival Foundation, Oodua Economic Empowerment Initiative and that of Oodua Voice Radio,” Olanrewaju said.
He also alleged that Adams became partisan and supported many governorship candidates that later failed.
He added that Adams had boasted that he would mobilize 6m votes for Jonathan from South West. He stated that even with alleged rented crowd, Adams disappointed Jonathan.
According to him, Adams supported Gadaffi against Libyans while Gadaffi later died.
Olawale who said other state coordinators of OPC were solidly behind them in their revolt to Adams challenged him to sue them if he believed that their allegations against him are untrue.

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Business

ASR AFRICA COMMENCES THE CONSTRUCTION OF A 500-CAPACITY LECTURE THEATRE AND FACILITIES WORTH 250 MILLION NAIRA FOR THE ADAMAWA STATE UNIVERSITY, MUBI, NIGERIA

Published

1 day ago

May 3, 2024

Sahara Weekly

ASR AFRICA COMMENCES THE CONSTRUCTION OF A 500-CAPACITY LECTURE THEATRE AND FACILITIES WORTH 250 MILLION NAIRA FOR THE ADAMAWA STATE UNIVERSITY, MUBI, NIGERIA

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Mubi, May 3rd, 2024

Sahara Weekly Reports That The Abdul Samad Rabiu Africa Initiative (ASR Africa) commences the construction of a 500-capacity lecture theatre and wash facilities for the Adamawa State University, Mubi. This project is coming after the nomination of the institution as a recipient of the ASR Africa Tertiary Education Grant Scheme (TEGS), by the Board of Directors of the Abdul Samad Rabiu Africa Initiative.

Speaking at the event, the Acting Vice Chancellor of the University, Dr. Stephen A. Lagu, expressed his appreciation to the Chairman of BUA group and ASR Africa, Abdul Samad Rabiu, for the rare philanthropy gesture towards the university. He stated that the intervention of the Chairman would reduce the physical infrastructure deficit at their new campus and promote sanitation and hygiene in the university. He added that the choice of the 500-seat lecture theatre with the four boreholes at different locations within the campus was identified and agreed to by the relevant organs of the institution with the ASR Africa team.

Dr Ubon Udoh (MD / CEO, ASR Africa), in his remarks, congratulated the institution for qualifying for the nomination by the Board of Directors of ASR Africa. He stated that the rigorous selection process which includes stringent criteria such as the quality of service delivered by the university and the pedigree of graduands from the institution at the national and international levels, proves that the university is keeping up with its vision as a leading institution of learning in the region. He encouraged the management and students to ensure proper use and maintenance of the facilities as a show of appreciation for the grant given to them.

The Tertiary Education Grant Scheme of the Abdul Samad Rabiu Africa Initiative is part of the efforts of the Chairman of BUA Group and ASR Africa, Abdul Samad Rabiu to give back to the African continent and make a lasting impact in education as a means of uplifting and restoring the dignity and lives of Africans.

About ASR Africa

ASR Africa is the brainchild of African Industrialist, Philanthropist and Chairman of BUA Group, Abdul Samad Rabiu, the Abdul Samad Rabiu Africa Initiative (ASR Africa) was established in 2021 to provide sustainable, impact-based, homegrown solutions to developmental issues affecting Health, Education and Social Development within Africa.

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Business

Rano: Inspiring Story Of An Ice block seller who became billionaire

Published

1 day ago

May 3, 2024

Sahara Weekly

Rano: Inspiring Story Of An Ice block seller who became billionaire

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Alhaji Auwalu Abdullahi Rano, popularly known as A.A Rano transformed from a humble boy from Kano Village into a billionaire magnate, overseeing a conglomerate that includes 120 filling stations across Nigeria.

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Born into an average family in Lausu, Kano State, Rano started small, with an ice block and groundnut oil business, including other local items.

Rano has gone into building a multi-billion naira enterprise spanning various sectors of Nigeria’s economy.

Today, Rano owns AA Rano oil & Gas industry in Nigeria with 56 ML Tank farm in Lagos, with 120 retail outlet/ fillng stations across Nigeria and over 600 trucks & LPG terminals as well as acquired vessel (M.T LAUSAU).

His ventures include RanoGaz, a state-of-the-art Liquified Petroleum Gas (LPG) terminal, a rice milling company, Rano Lubricant, Rano Air, Lausu Marine and Logistics, AA Rano Terminal, and AA Rano Road Haulage.

@PUNCHNG

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Bank

Fidelity Bank records a 120.1% growth in PBT to N39.5bn in Q1 2024

Published

2 days ago

May 3, 2024

Sahara Weekly

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Fidelity Bank records a 120.1% growth in PBT to N39.5bn in Q1 2024

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In line with its upward growth trajectory, leading financial institution, Fidelity Bank Plc, has posted an impressive 120.1% growth in Profit Before Tax from N17.9bn at the end of Q1 2023 to N39.5bn for Q1 2024. This was made known in the Bank’s unaudited financial statements released on the issuer portal of the Nigerian Exchange (NGX) on Tuesday, 30 April 2024.

According to the statement, Gross Earnings increased by 89.9% yoy to N192.1bn from N101.1bn in Q1 2023. The increase was led by a combination of interest income (90.7% yoy) and non-interest income (84.0% yoy). Growth in interest income was primarily spurred by a higher yield environment and strong earning assets base, while the increase in non-interest income was led by double-digit growth in account maintenance charges, FX-related income, trade, banking services, and remittances, supported by increased customer transactions.

Commenting on the results, Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc stated, “We are pleased to report another quarter of strong financial performance driven by our strategic focus on customer-centricity, digital innovation and operational excellence. Despite the challenging macroeconomic environment, we remained resilient and agile, delivering double-digit growth on key income lines while advancing our business sustainability agenda.”

In the period under review, the bank grew Net interest income grew by 89.5% yoy to N99.6bn from N52.6bn in Q1 2023, driven by interest and similar income as the yield on financial instruments improved to 14.7% from 10.1% in Q1 2023 (2023FY: 11.6%). In line with the steady rise in interest rates through the year, average funding cost increased by 80bps ytd to 5.2%. However, NIM came in at 8.8%

compared to 8.1% in 2023FY, as increafeatsed yield on earning assets surpassed funding cost to 15.1% from 13.3% in Q1 2023 (2023FY: 13.5%).

Similarly, Total Deposits increased by 17.2% ytd to N4.7tn from N4.0tn in 2023FY, driven by double-digit growth across all deposit types (demand, savings and term). Net Loans and Advances increased by 21.2% to N3.7tn from N3.1tn in 2023FY.

“Beginning the year on this inspiring note reaffirms our strategy of helping individuals to grow, inspiring businesses to thrive and empowering economies to prosper. We are committed to our guidance as we build a more resilient business franchise with a well-diversified earnings base in 2024,” explained Onyeali-Ikpe.

Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged customer commercial bank with over 8.5 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.

The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

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