The President, Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Francis Johnson, has died.
The General Secretary of the organisation, Okugbawa Lumumba, disclosed this to reporters on Friday.
He reportedly died in the early hours of Friday.
Johnson became President of PENGASSAN in 2014, and was said to have died after an ailment.
Lumumba said members of the union were on their way to pay a condolence visit to the family.
The Securities and Exchange Commission has warned Nigerians against fraudsters currently running an online investment scheme tagged “Loom Money Nigeria.’’
Acting Director-General of the commission, Ms Mary Uduk gave the warning at a news conference on Thursday in Abuja.
A statement by SEC’s Head of Media, Mrs Efe Ebelo, said that Uduk, who was represented by acting Executive Commissioner, Operations of SEC, Mr Isyaku Tilde, said Loom Money Nigeria had taken over the social media.
She said that the scheme targeted young people, luring them to participate in a pyramid model of the Ponzi.
The director-general disclosed that the fraudsters carried out their illegitimate activities via social media platforms like Facebook and WhatsApp.
She added that they lured young Nigerians to invest as low as N1,000 and N13,000 and to get as much as eight times the value of the investment in 48 hours.
Uduk said that the venture was a Ponzi scheme, where returns would be paid from other people invested funds, adding that it had no tangible business model.
“We are aware of the activities of an online investment scheme tagged ‘Loom Money Nigeria’.
“The platform has embarked on an aggressive online media campaign on Facebook and WhatsApp.
“They lure the investing public to participate by joining various Loom WhatsApp groups to invest as low as N1,000 and N13,000 and get as much as eight times the value of the investment in 48 hours.
“Unlike MMM that had a website and the promoter known, the people promoting Loom are not yet known and this pyramid scheme operates through closed groups mainly on Facebook and WhatsApp.
“If it were a local Ponzi scheme with known offices, it would be very easy for the Commission to seal their offices and freeze their accounts.
“We therefore wish to notify the investing public that the operation of this investment scheme has no tangible business model hence it’s a Ponzi scheme, where returns are paid from other people’s invested sum.
“Also, its operation is not registered by the Commission,” she said.
Uduk, therefore, advised the public to distance themselves from the scheme, adding that anyone that subscribed to the illegal activity did so at his own risk.
She assured that an inter-agency committee, Financial Services Regulation Coordinating Committee, was working on the issue, and that the commission was also collaborating with security agencies to track them down.
A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors.
Loom Pyramid Scheme is not new to the world. Last month, Daily Mail UK reported that the scheme has resurfaced online all over the world, with different names such as ‘loom circle’, ‘fractal mandala’ and ‘blessing loom.’
In Nigeria, its central name is Loom Money Nigeria with individuals creating their own WhatsApp groups such as Jack Loom, Catherine Loom, among others.
The Federal Government on Tuesday inaugurated the committee to negotiate the consequential adjustment in salaries arising from the new National Minimum Wage, with the Head of the Civil Service of the Federation, Winifred Oyo-Ita, as chairman.
While inaugurating the committee, Secretary to the Government of the Federation, Boss Mustapha, who is an alternate chairman of the committee, said the committee has four weeks to complete its assignment with the inaugural meeting scheduled to hold on May 20, 2019.
Among the members of the committee are the ministers of Labour and Employment, Finance, Health, Budget, and National Planning and Education.
Others are the Attorney General of the Federation and Minister of Justice, Director General, Budget Office, Secretary of the Federal Judicial Service Commission, Secretary, National Assembly Service Commission and Chairman, National Salaries, Income, and Wages Commission, who will serve as the committee Secretary.
Gov Wike
Rivers State Governor, Nyesom Wike has sacked the State Commissioner of Power, Hon Shedrach Chukwu days before dissolving his cabinet.
The reason for the sack of Chukwu is still sketchy but sources say it may not be unconnected to party matters.
The Governor in a statement by his Special Assistant on Electronic Media, Simeon Nwakaudu directed the sacked commissioner to submit all Government documents and property in his possession to the Permanent Secretary of the Ministry of Power.
Meanwhile, Governor Wike has stated that his administration will focus on security and agriculture during his second term.
Addressing newsmen after projects’ inspection on Monday, Governor Wike added that his administration will also continue to develop the education and health sectors.
Governor Wike said that his administration will be very decisive on stopping street trading in the state capital and its environs.
He said: “We believe that security is important and we believe that agriculture is key to making sure that we take our youths away from the streets.
“While we are continuing with education and health, security, agriculture and environmental sanitation will be given priority attention.
“Port Harcourt must not continue the way it is. People trading on the streets make Port Harcourt dirty. Cleaning up the city will be a special project. We will not allow Port Harcourt to continue to be dirty.”
Governor Wike inspected the Real Madrid Football Academy, Judges’ Quarters and the Fruit Garden Market.
The erection of artificial shrines and unapproved buildings along the Calabar –Itu–Ikot Ekepene highway in Cross River and Akwa Ibom States is constituting an obstacle to the dualization of the expressway.
The dualization, as findings revealed, was undertaken by the present government. The road, which was constructed in the 70’s during the era of oil boom by the General Yakubu Gowon regime, had since become a death trap.
The Federal Government had awarded the road contract in 2018 to a firm, Julius Berger, for the complete reconstruction and dualization of the entire span of over 50 kilometres stretch of the road.
However, rather than appreciate this move by the government, villagers living along the stretch of the road have devised a plan of getting money from the government by erecting emergency structures close to the road.
When our correspondent visited the road during the week, many villagers were seen building houses, erecting shrines and sinking boreholes by the side of the road which has already been surveyed with structures captured for demolition.
For instance, the villagers along Okurikang, Ikot Okon Akiba, Kparam, Akai Effiwat, Itu Bridge head and Itu junction and other villages in Akwa Ibom State have erected shrines and unapproved structures.
Some of the villagers, in an interview, admitted that they are rushing to build houses and shrines close to the road knowing that contract has been awarded for the construction.
One of them in the village of Kparam, who gave his name as Ekpo Ekpo, said, “We are not aware of any road construction project. We are building on our land and nobody has told us not to build close to the road”.
An elderly man on clutches in the same village, who refused to give his name, was seen supervising the building of his house. He explained that his other structure is a thatch house which could collapse at any moment. He stated that this was the reason he has engaged someone to build another one for him beside the road.
Another young man, Elvis Samuel in Ikot Okon Akiba village, openly admitted that he is building his house close to the road so that he could get paid by the contractor when it is demolished in the course of the construction work.
“We have been living here for many years and have been suffering the effect of the bad state of this road and now that government has decided to work on it, we should also be given some compensation for keeping the road alive by filling the bad spots with stones and sand for vehicles to pass,” he said.
Reacting, the village head of Okurikang, Chief Inyang Inyang said he was unaware of any rush to construct houses close to the road, adding that if there is anything of such, “those doing the work should be the ones to complain not those just passing by”.
At the Federal Ministry of Works, Calabar Office, the Federal Controller of Works, Engineer Bassey Nsentip said such “deceptive development” is not encouraged by the ministry.
He said it is common in the South-South for people to engage in such emergency construction in order to extort money from government when major projects are being undertaken.
“I was in Yorubaland for over ten years and I did not see such attitude but in the south here because of greed for money, many people cash in on the situation to start deceptive development projects just to extort money from government,” he said.
Nsentip said when the estate valuers were given the job of assessing structures on the road, they were instructed to do it with speed to avoid people cashing in on the situation, yet people are still building after the right of way for the project has been acquired.
“It is common here to see that after the structures have been assessed and marked some people still build in front of the ones marked and use their red paint to mark their own structures but the estate valuers have a code to identify the ones marked by them,” he said.
He said any structure that was not captured when the right of way was being acquired would be bulldozed without the payment of any compensation to owners of such structures.
Amaju Pinnick
The President of the Nigeria Football Federation, Mr Amaju Pinnick, and four other officers of the glass house have been charged by the Federal Government with an alleged misappropriation of $8,400 said to have been paid by FIFA to the NFF.
It was alleged that the money was paid by FIFA to the NFF as Nigeria’s appearance fees in the group state of the Brazil 2014 World Cup.
The five defendants were also accused of “moving dishonestly and intentionally the sum of about N4bn” belonging to the NFF without the consent of the NFF.
The Special Presidential Investigation Panel for the Recovery of Public Property led by Mr Okoi Obono-Obla, which instituted the case, also accused the defendants of failure and neglect to declare their assets.
The case, marked FHC/ABJ/CR/93/2019, filed before the Federal High Court in Abuja on Tuesday, contained 17 counts.
The other defendants named in the case are the Secretary of the NFF, Sunusi Mohammed; the first Vice-President of the federation, Seyi Akinwumi; the second Vice-President, Shehu Dikko, and an executive member of the federation, Yusuff Fresh.
The charge, filed by SPIRPP on behalf of the Attorney General of the Federation, Abubakar Malami, was signed by Dr Celsius Ukpong.
The prosecution accused the defendants of criminal conspiracy, criminal breach of trust, theft, criminal misappropriation in respect of their handling of the $8,400 and N4bn belonging to the NFF.
The offences were said to be contrary to and punishable under various provisions of the Penal Code (Cap 105) LFN.
Pinnick and his co-defendants were also accused of failure and neglect to declare their assets to the SPIRPP, contrary to and punishable under section 3(3)(a) of the Recovery of Public Property (Special Provisions) Act, 2004.
The prosecution specifically accused Pinnick of appointing a company he had interest in, Financial Derivatives Limited, as a financial consultant to the NFF, contrary to Section 5 of the Code of Conduct Bureau and Tribunal Act.
The SPIRPP said he was liable to be punished under sections 1(2) and 10(1)(a) of the Recovery of Public Property (Special Provisions) Act, 2004.
The Federal Executive Council (FEC) has approved N169.74 billion for award of contracts for the construction and rehabilitation of 10 roads across the country.
Mr Hakeem Bello, the Special Adviser to the Minister of Power, Works and Housing on Communication disclosed this in a statement on Saturday in Abuja.
He said that the projects are to improve transportation infrastructure and restore the nation’s road network as part of implementation of the Federal Government’s Economic Recovery and Growth Plan.
Bello said that the approval was sequel to a memorandum presented to FEC on May 2 by the Minister of Power, Works and Housing, Mr Babatunde Fashola.
He said the projects include the rehabilitation of Umuahia-Ikot Ekpene road, Calabar-Oban-Ekang road, Ado-Ekiti –Igede-Aramoko-Itawure road, Funtua-Dandume-Kaduna State border road and Makurdi-Gboko-Katsina-Ala road.
Others are rehabilitation of old Enugu-Onitsha road, dualisation of the 74KM Aba-Ikot Ekpene road, Billiri-Filiya-Taraba State border road as well as construction of Yola-Fufore-Gurin road, four kilometre Township road in Gaya Local Government Area (LGA) of Kano State.
“To ensure the realisation of Federal Government’s objectives of restoring growth and investing in the people, the Ministry of Power, Works and Housing decided to initiate the road construction and rehabilitation,” Bello said.
He said that the idea is to open up settlements, provide access for evacuation of goods and services as well as improve the socioeconomic lives of the people within the stretch of the different communities in the project areas.
The Minister’s aide added that the projects are also targeted at creating employment for Nigerians.
