While fighting corruption at all levels is a laudable effort, balancing action with fairness in the prosecution of justice remains pertinent in the operations of a law enforcement agency. Faced with such moral dilemma, the Economic and Financial Crimes Commission (EFCC) has ramped up its efforts to sanitize Nigeria’s corporate sector.The Commission’s attempt to rid the country’s private sector of criminals and criminality through checks and balances has led to the investigation of some businesses across several industries and the imposition of fines on some. While top shots found culpable of economic malpractices are undergoing prosecution, companies and their executives hitherto scrutinized are being acquitted. In particular, the EFCC has scaled up its scrutiny of the telecoms and lottery industries.One of the notable cases is EFCC’s investigation of telecoms giant, MTN in 2019 over alleged irregularities in the process of its listing on the bourse of the Nigerian Stock Exchange (NSE). In May 2019, the firm had listed by introduction, 20.4 billion ordinary shares at N90 on the NSE. In less than a week, the share price had risen to N131 as scarcity drives up its value. Many believed the company did not follow due process and had given insider information to some of its major shareholders, a move that led to artificial scarcity of the company’s shares following the announcement of the IPO. However, while acknowledging that it was under investigation by the EFCC, MTN reiterated that it had not been accused of any wrongdoing by the anti-graft agency. After further explanations from the Securities Exchange Commission (SEC), MTN was let off the hook.Similarly, in January 2020, Premier lotto, Nigeria’s foremost and perhaps, oldest lottery firm became the subject of a routine EFCC inquest to investigate alleged tax evasion based on unsubstantiated accusations from a competitor. An Executive Director of the company and son of the founder, Segun Adebutu, who was incidentally at the Premier Lotto office on the day, was invited to the anti-graft agent’s office for questioning without detainment. After due investigations, and further clarifications from the company, the EFCC found no malpractices in the affairs of Premier Lotto and Segun Adebutu. The matter was thereafter summarily dismissed, and the petition was closed. In its bid to sanitize the lottery industry, the EFCC went into a partnership with the National Lottery Regulatory Commission (NLRC) in July 2019. The deal involves agreement for support in the areas of information sharing, intelligence gathering, enforcement and prosecution. With the new agreement, it became easier for the anti-graft agency to detect cases of foul play in the hitherto opaque Nigerian lottery industry, which is reportedly worth about $70 billion. The partnership with the NLRC is already yielding some results as the EFCC recently announced the discovery of 35 illegal lottery business operators in the country.EFCC’s scrutiny of the telecoms sector revealed a boost early in the years, when the House of Representatives Committee on ICT revealed that commission will join the committee to investigate telecom providers, over alleged non-remittance of the one per cent annual turnover to the National Information Technology Development Agency (NITDA). According to the Reps committee, the telecom companies are owing up to N200 billion in pending remittance to NITDA for infrastructure provided. While some people see the EFCC’s intervention in the affairs of the business world as being overbearing, others see it as a means of reining in some of the excesses of the businesses and protecting the consumers who are serviced by these businesses. Nevertheless, these moves have yielded some benefits. They have checked the excesses of the telecoms operators and brought in more revenue for government in form of fines. Lastly, thanks to the cooperation of some key lottery operators, the EFCC has made the industry more transparent and accountable.
The Group Chief Executive, Oando Group, Mr. Adewale Tinubu, CON, has felicitated the Alake of Egbaland, Oba Adedotun Aremu Gbadebo, on his 80th birthday.
The oil mogul, in a message made available today, Thursday September 14, 2023 congratulated the revered and respected monarch, who is also the Chairman of Oando Group, on the milestone.
Tinubu wrote: “I felicitate the Chairman of Oando, His Royal Majesty, the Alake of Egbaland, on his landmark 80th birthday.
Kabiyesi, your leadership and wisdom have been a beacon of inspiration to us all, and we, who have been privileged to know and work with you, have been positively impacted by you.
“80 years is truly a blessing from God, and I wish you good health, and many more years of impactful leadership.
“May your reign be blessed with continued success and your legacy forever etched in history. Kabiyesi o.”
‘’Of all the gifts that life has to offer, a loving mother is the greatest of them all’’ so says a popular quote.
To say that Oando boss, Wale Tinubu and his siblings were blessed with a loving mother is like stating the obvious, their mother, Chief (Mrs.) Bintu-Fatima Tinubu, the Iyalode of Lagos is a one a million whose love and care has guide them to who they are today.
Her love is sweeter than flower of love.
To appreciate the loving, selfless and hardworking mother, her children Wale, Shola, Iyabo, Kunle, Jide and Olu yesterday gathered the world when the celebrated the woman as she clocked 80 in a blaze of glory.
For the children, the attainment of the ripe age of 80 is worth celebrating, particularly in a country, where death is so cheap.
It was a great moment for the Edo State-born businesswoman as her families, friends and business associates gathered to share her gladsome moment with her.
The birthday party is no doubt would be described as a blowout, lively, sparkling, fun, exciting, and enjoyable, it is simply the best so far in the year 2023.
Trust the Tinubus, they are detribalised Nigerians whose circle of friends cuts across the various Nigerian tribes that they has built over the years.
They showcased their hospitality side as they hosted Who- is-who in high society, including captains of industry, monarchs, politicians, socialites and celebrities, yesterday Sunday, July 2nd 2023 at the Grand Ballroom, Eko Hotels and Suites, Victoria Island, Lagos.
It was indeed a night for the high-networth, high profile and highflying eminent personalities.
It was obvious that they have a commanding sense of hospitality. It was upscale and finest in all ramifications.
From the catering to the ushering, no stone was left unturned. Ushers were brought in to perform different tasks; from assigning seats to guests to taking their meal requests and even ensuring that the place was immaculate and clean.
The hall was colourfully decorated with balloons and other aesthetic materials to give it a regal look. The foods were incredibly rich, flavoursome and magically moreish.
Premium and top-quality drinks only meant for the elites flowed like an endless river. Indeed, the gaily guests had no reason to complain as everything was well taken care of.
There was no dull moment as Vintage Band was there to serenade the gaily dressed guests.
The party go to its peak with the King of Juju music, King Sunny Ade that proved that he is still on top of his game as he livened up the atmosphere with his world class beat while guests danced until their legs could no longer carry them.
Some of the guests at the birthday bash include, the governor of Lagos; Babajide Sanwoolu with his wife, Ibijoke Sanwoolu, Ogun State governor; Dapo Abiodun, Kwara State governor, Abdulrahman Abdulrazak, Senator Gbenga Daniel with his wife, Yeye Funke Daniel Senator Ibikunle Amosun with his wife, Funsho Amosun, Alhaji Aliko Dangote, Femi Otedola, Tony Elumelu, Abdulsamad Rabiu, Hajia Bola Shagaya, former Senate President, Bukola Saraki with his wife, Toyin Saraki, Babagana Kingigbe, Folly Coker, Wale Edun, Mo Abudu, Founder and Coordinator of Tinubu Support Group; Hon. Aminu Suleiman, Segun Awolowo, Hajia Abbah Folawiyo, Yomi Awobokun, Among several other eminent personalities.
From midnight, even as Jubril Adewale Tinubu, CON, Group Chief Executive, Oando Plc, chose to put his mobile phone on silent mode, its screen flashed continuously and aroused him from his beautiful sleep, as it was bombarded with calls and text messages from family members, friends , business associates et al.
Interestingly, the undisguised expressions of love by his loved ones from that dead of night and through the rest of the day have become like an annual ritual of sorts that they perform whenever the oil guru marks his birthday.
On his part, the University of Liverpool- trained lawyer has so much to thank God for, as he turned 56 today, Monday, June 26.
A reliable source told us that Tinubu, who began his career with his family law firm, K.O. Tinubu and Co., in 1990 and later co-founded Ocean and Oil Group in 1994, is celebrating the birthday surrounded by his family at his residence in London.
Also, the occasion affords Tinubu, fondly called The King of African Oil, to thanked God for the rare grace to have lived an eventful life thus far and for another great opportunity to reflective on his earthly sojourn so far, and pray for greater blessings in the coming years.
It was also gathered that he would use the occasion to put smiles on the faces of the needy around him in his characteristic magnanimity and sense of fellow-feeling.
This may not be surprising to those who know him too well, as he had used the occasions of his birthday in the past to act as the Angel of hope to the disadvantaged members of the society.
Just like his name, Jubril, he has been an angel to many whose paths have crossed with his on many occasions. He has lent support and been a shoulder to lean on for numerous less-privileged and the poor. He is indeed a bellwether in the acts of generosity to others. He sees sharing love with them as a sacred devotion.
The man who today is Africa’s pride in oil and gas is usually driven by an abiding quest to change the lives of his people for the better.