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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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Ex-NCC Chair, Akande extols Senator Sarafadeen Ali on his 61st birthday

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Former Chairman of the Nigerian Communications Commission (NCC), Prof. Adeolu Akande, has extended warm felicitations to Barrister Sarafadeen Ali, the Senator representing Oyo South Senatorial district, on the occasion of his 61st birthday.

In a statement released on Saturday in Ibadan, the Oyo state capital, on Saturday, Akande lauded the lawmaker, describing him as a luminary whose life has been marked by distinguished service to the nation.

“Today, I join the world in celebrating you on your special day, as you mark 61 years of God’s abundant love and glorious impact on humanity,” the former NCC gaffer expressed.

He added, “I wish you many more years of God’s grace in your life.”

 

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Labour union protests Heritage Bank’s dismissal of 1,000 workers

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The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.

The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.

Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.

He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.

“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.

 

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Nigeria not using foreign reserves to defend naira, says CBN governor

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CBN governor

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.

Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.

While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.

Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.

He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”

Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.

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He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”

 

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