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DUBAI PROPERTY SAGA: FG URGED TO REVIEW FOREIGN POLICY.

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Following his recent outburst about the nasty experience he had while engaging in a business transactions with a Dubai-based company, THE FIRST GROUP, Dubai, United Arab Emirates, UAE, Mr. Jubril Sanusi, an Ibadan based engineer and business man, has called on federal government to review his foreign policy with a view to protecting Nigerian business men anywhere in the world.

Mr. Sanusi made this call against the backdrop of inhuman treatments which Nigerians in diaspora are being subjected to on daily basis not only in South-Africa but now in Dubai, UAE.

According to him, Dubai which is generally regarded as a tourists’ haven are being turned into nightmares for Nigerians business investors, the reason he attributed to the weak foreign policy of the government.

While speaking further on the development, Mr. Sanusi declared that Nigerian business men in Dubai, UAE, have been turned into a money making machine by some UAE citizens who have figured out that Nigerian business men in that country are like ‘orphans’ whose government care less about their predicaments adding that hardworking Nigerians who had attempted to invest in the country real estate’s business are loosing their hard earned money to some UAE fraudsters masquerading as real estate agents.

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Shedding more light on the purported transaction, Mr. Sanusi stated that if not for his faith in the sanctity of judiciary, he would have been duped in a multimillion naira business transaction he had with THE FIRST GROUP located at 22nd Floor Tameem House, TECOM, Dubai, UAE and its sister company, TGF PROPERTY MANAGEMENT.

“ I was approached to buy an executive suit in the First Central Tecom, Dubai, United Arab Emirates from one Ahmad Al Abdullah AlAnsaari. I made some payment through a company, their representative, named TGF PROPERTY MANAGEMENT. The agreement was that the suite will not be totally handed over to me until I finish all the payment they requested for.

“Eventually, I made the final payment of 1,597,231United Arab Emirates Durham on the Seventh of May, 2013. I was expecting them to do final hand over of all the necessary document, they did not but instead stated that the suite will be managed by another company, The Forever Green Management LLC on my behalf.

“What i saw was that they started remitting some money to me which according to them is the proceeds from the suite. I was surprised because we never discussed this and moreover, how they came about the rents for the suite was not disclosed to me. All my plea to make them do the needful and acted based on the agreement we had fell on their deaf ears. This made me to hire an attorney who engaged them in a legal battle and eventually got them to release the “Title Deed”, the document which states my proof of ownership just August, last year (2016).

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“Up till now, I am still yet to take the full possession of the suite but I am confident that with the faith in God and help of my attorney, I will totally hands off these people from the property. I am saying this because I don’t want other people to make the same mistake and should be more watchful and careful as regards the people they want to be doing business with.

In a bid to get the reaction of the company regarding the allegation made by Mr. Sanusi, our correspondent sent an email to Mr. Doaa Hussein Elzawawy, the company’s Owner Service Executive whose initial reaction was to inquire about our correspondent’s relationship with Mr. Sanusi but failed to reply the subsequent messages mailed to him as the time of publishing this story.

Mr Sanusi has, however, vowed that, through the legal means he has embarked upon, he would ensure that THE FIRST GROUP gives him the total possession of his acquired suite.

 

By Hazeez Kolawola.

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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