Category Archives: News

Why Oyo Speaker’s Mum, Tina Ogundoyin Parted Ways With Her Best Friend

They both shared a lot in common, married to successful and wealthy men, pretty, fashionable and they ruled the social circle together some years ago. You can hardly see Tina Ogundoyin and Hanna Afolabi would be missing. The pretty duo formed a formidable team, the envy of all other women in Ibadan where they live.

While Tina Ogundoyin, the mother of the current Speaker of Oyo State House Of Assembly, Debo is the widow of business mogul, late Chief Adeseun Ogundoyin, Chief Mrs Hanna Afolabi is the widow of the Iree born politician and late Minister of Internal Affairs, Chief SM Afolabi.

They both hold traditional titles, Hanna Afolabi is the ‘Yeye Apesin’ and Tina Ogundoyin also holds a respectable title bestowed on her from her husband’s town, Eruwa.

Friendship brought them together, soon after they became sisters with one watching out for the other before an unforeseen circumstance hits their friendship.

Those in the know claimed the friendship crumbled as a result of envy and backbiting.

There were several attempts by their other friends to reconcile them, but they both claimed to have had enough, going separate ways and not looking back.

After the separation, Chief Mrs Tina Ogundoyin plunged herself into business and engaged in politics while Chief Mrs Hanna Afolabi went back to school, earned a degree at the University of Ibadan and is now a contractor and a member of the Governing Body of the Premier University.

Fire Guts Isaac Fayose’s Hotel In Abuja

An early morning inferno destroyed the multimillion naira Viewpoint Luxury Hotel of Isaac Fayose in Abuja.

The hotel located at Jabi Lake went up in flames as early as 3a.m and the building had been badly affected before fire fighters at the scene.

The owner, Isaac Fayose, a younger brother of former Ekiti State Governor, Ayo Fayose was seen pacing up and down and making videos while also telling the people that everything in the hotel were burnt save for his bible and his children’s school books.

A worker at the hotel revealed to this writer that the fire was caused by a surge from one of the kitchens and later claimed the whole part of the building.

The hotel was opened about a year ago and had become the haven for entertainment lovers and rich patrons.

 

The Viewpoint Luxury boasts of a standard sized swimming pool, a club house, luxury rooms and other facilities.

Buhari Orders Investigation Of Three Key Ministers

There is a strong indication that Nigerian President, Muhammadu Buhari has given the anti-corruption agencies the instruction to launch a detailed investigation into an allegation concerning some three ministers serving under him from petitions written by a civil society group and members of the public.

A source close to the Presidency revealed that the letter where the order was communicated to the agencies was written about a week ago and the agencies, EFCC and ICPC had already commenced the investigation.

The affected Ministers as claimed would be invited for interrogation later this week.

The investigation is said not to be a new practice as the President affirms his position to sanitise his government from corruption without minding whose ox is gored

The Federal Government had also submitted the list of food vendors engaged in the school feeding programme to the Economic and Financial Crimes Commission and the State Security Service for investigation.

This came after the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar-Farouk, said the government is spending N4,200 per household as a monthly COVID-19 intervention for 3,131,971 households, totaling N13,154,278,200.

The opposition party, PDP has described the School Feeding Programme as the use of innocent school children as cover to steal and funnel not less than N679 million daily to private purses.

In his words, the spokesperson of the PDP, Kola Ologbondiyan said “it is now clear that the APC-led administration’s school feeding programme has always been a scam, the claims to feed school children even when schools are closed are colossal racketeering taken too far.”

However, the Spokesperson of the ruling Party, All Progressives Congress, APC in his response, accused the opposition party of suffering from post-colossal defeat trauma handed to them by the APC.

“They always feel that the way they squandered Nigeria’s resources during the sixteen years they ruled Nigeria will still be the order of the day.

“They missed it big time. President Muhammadu Buhari has been in public service for almost 37 years without being accused of stealing one kobo from the public office, a record that makes him unique in this country and Africa in general,” he said.

Additional Report: Streetjournalmagazine

‘Online Journalists Deserve Palliatives And Protection’ -AMPON President, Wole Arisekola

Online Journalists experiences are not quite different from majority of citizens who earlier decried the selective, marginalization and politicisation of welfare of Citizens palliative packages distributions by the Federal, State and Local governments during covid-19 lockdown in Nigeria.

The Governments has distributed various Relief disbursement Collation forms and other related palliative materials without any consideration for online and commmunity media practitioners.

Reacting to the marginalization of Journalists by the Federal, State and Local governments and lawmakers during the covid-19 lockdown to the online media practitioners, the President of the Association of Online Media Practitioners of Nigeria, (AMPON), Wole Arisekola said online journalists are also frontline workers as well.

That due to the status of their work, they have to be part of governerment’s palliative and protection.

“Online journalists are also frontline workers, they need to be part of Government’s palliatives and be Protected,” Arisekola affirmed.

Battle Royale! Lekki Residents Fight Chairman, Kayode Otitoju Over Financial Misconduct

‘…things fall apart, the centre cannot hold’  famous writer, Chinua Achebe must have seen beyond the years when he wrote this passage many years ago. The writer’s thought depicts the present situation in highbrow, Lekki Phase 1, Lagos where the residents are presently at war over some matters.

The man at the centre of the fight is the Chairman , Lekki Resident Association (LERA) ,  Sir Kayode Otitoju who was alleged of gross misconduct, high handedness and corruption.

The members of the association alleged Otitoju of closing down the Pavilion which stands as the office of the Association, impounding two Hilux cars meant for the security of the estate and sleeping with staff employed by the association.

Enraged members, Kenny Awe, Paul Kogolo and Wole Akala were at the forefront of the confrontation, reeling out allegations of mismanagement against the chairman who they accused to have contributed to the invasion of the estate by miscreants at the wake of the covid-19 pandemic.

The LERA chairman, Otitoju in his defence also alleged the trio of forming a parallel association against the interest of the residents.

The whatsapp group created for the interaction of the members of LERA could be likened to a war front as members engaged in free verbal war where weighty allegations were made.

A source within the estate members stated her disappointment, saying she couldn’t believe her eyes when she started reading messages and insults from people she thought were respectable in the society.

The war did not end on social media, the Chairman, LERA, Otitoju is seeking redress from a law court over the activities of those he labelled the ‘other camp’, while they have also briefed their lawyer who wrote Otitoju with an order to apologise to his client for libel and slander in a statement he was quoted to have called them cultists and scammers.

 

 

ZENITH BANK RECORDS IMPROVED GROSS EARNINGS OF N166.8 BILLION IN Q1 2020

 

Zenith Bank Plc has announced its unaudited results for the first quarter ended March 31 2020, with gross earnings rising by 6% from N158.1 billion in March 2019 to N166.8 billion.

 

From the unaudited statement of account which was presented to the Nigerian Stock Exchange (NSE) on Wednesday, April 29, 2020, this top-line growth was driven by the 43% expansion in non-interest income from N32.7 billion in the prior-year period to N46.6 billion in March 2020.

 

The Bank’s profit before tax also rose 3% from N57.3 billion in the prior-year period to N58.8 billion in March 2020. The increased profits benefited from the twin effects of continuing top-line growth and focused cost-of-funds optimisation. Cost of funds declined significantly from 3.0% in March 2019 to

2.6% in the quarter, translating to a 10% decrease in interest expense dropping from N36.3 billion in March 2019 to N32.8 billion in the quarter. Despite this drop, the current low yield environment necessitated the repricing of interest-bearing assets which in turn resulted in a 13% compression in net interest margin, decreasing from 8.9% in March 2019 to 7.7% in the current period. 

 

Zenith Bank has continued to gain customer acceptance, with customer deposits increasing by 5% from N4.26 trillion in December 2019 to N4.46 trillion in Q1 2020. The Bank’s customer deposit mix rebalancing remains on-track as the Group added N150 billion in savings account balances in Q1 2020, supported by its retail drive. The Bank’s total assets increased by 12% growing from N6.35 trillion in December 2019 to close at N7.13 trillion in Q1 2020. Gross loans grew by 11% from N2.46 trillion in December 2019 to N2.74 trillion in Q1 2020. 

 

Why Alaafin’s Silence Troubles Wasiu Ayinde

The last may not have been heard in the sexual allegation scandal between top musician, Alhaji Wasiu Ayinde and one of the wives of the Alaafin of Oyo, Oba Lamidi Adeyemi, Olori Badirat Ajoke with claims that the musician is worried with the silence of the Alaafin over the matter.

A source close to the popular artiste who holds the title of the Mayegun of Yorubaland explained that the silence of the Alaafin in the whole issue means a lot and it’s a lot of concern for Wasiu Ayinde who has enormous respect for the monarch.

It was said that the musician, popularly called K1 reached out to the traditional ruler at the wake of the scandal and he was said to have been assured by the monarch not to worry as he would make a statement that would clear him off the scandal.

The Mayegun waited for three days without any statement being released by the palace and was alarmed by the negative impact the scandal was leaving on his reputation when he decided to clear his name, and even threatened a redress.

The singer was also interviewed by popular journalist, Dele Momodu where he vehemently denied the allegation which he claimed was the handwork of people who opposed his selection for the Mayegun title and wanted to create enmity between him and the respected monarch.

The queen in the centre of the allegation on her part had also come out to debunk the allegation while calling on all the gods in Yorubaland to punish her if she had anything to do with the musician.

The monarch was silent throughout the period the scandal became news.

An individual close to the Alaafin of Oyo, Oba Lamidi Adeyemi hinted that the powerful monarch’s silence could only mean the Alaafin is still investigating the matter.

In his words, he said ‘you know Baba is very blunt. He doesn’t joke with family and traditional matters like this, but he is someone that holds on to facts. His silence means he is still investigating the matter and be sure Baba would come out as soon as he gets the fact’.

Dublin based blogger, Esther Aboderin was the first to write the story where she claimed the Alaafin of Oyo palace says the youngest wife of the Yoruba monarch has been sent packing, as she was alleged to be having sexual affairs with Fuji music legend, King Wasiu Ayinde Marshall.

Olori Badirat Adejoke, the 9th wife of Alaafin of Oyo, Oba Lamidi Adeyemi is the youngest of his wives. She is currently a youth corps member after graduating from the prestigious University of Ibadan, Ibadan Oyo state.