The Nation Newspaper

Author: The Nation

  • Tottenham owner charged over alleged insider trading

    Tottenham owner charged over alleged insider trading

    Tottenham Hotspur owner Joe Lewis has been charged in the US with hatching a “brazen insider trader scheme”.

    New York prosecutors accuse the billionaire of tipping off friends, associates and employees with non-public information about companies he had business links to.

    This allowed them to profit from buying or selling related stocks, the indictment alleges.

    A lawyer for Mr Lewis said charging him was an “egregious error in judgement”.

    David Zornow said the charges would be “defended vigorously in court”.

    He added that the 86-year-old had come to the US voluntarily to defend himself against the “ill-conceived charges”. He usually resides in the Bahamas.

    In a statement, a Tottenham Hotspur spokesperson said the charges had no bearing on the club: “This is a legal matter unconnected with the club and as such we have no comment.”

    It’s been noted that last October the club made a filing to Companies House confirming that Lewis was – the club said – “no longer a person with significant control at the club”.

    Mr Lewis was charged with 16 counts of security fraud, and three counts of conspiracy for crimes alleged to have taken place between 2013 to 2021.

    Allegations against Mr Lewis were laid out in a video statement posted to the US State Attorney’s Office for the Southern District of New York.

    “We allege that, for years, Joe Lewis abused his access to corporate board rooms and repeatedly provided inside information to his romantic partners, his personal assistants, his private pilots, and his friends,” US attorney Damian Williams said in the video.

    Mr Williams, the chief federal law enforcement officer for the SDNY, alleged that Mr Lewis’s acquaintances used that information to make millions of dollars in the stock market.

    “Thanks to [Mr] Lewis, those bets were a sure thing,” he claimed. “None of this was necessary. Joe Lewis is a wealthy man”, he added.

    The indictment quoted one pilot texting a friend that “Boss lent Marty and I $500,000 each for this,” and that he thought “the Boss has inside info” because “otherwise why would he make us invest”.

    It listed several occasions on which Mr Lewis allegedly told his pilots to sell or invest in shares on the stock exchange, after he received confidential information.

    The indictment also alleges that Mr Lewis told a girlfriend to invest in a biotech company in July 2019, before the results of its clinical trial were made public.

    Read Also: Tottenham reach agreement to sign Manor Solomon

    After speaking to his girlfriend, he allegedly logged into her bank account himself and used almost all of her available funds to invest into the company – amounting to US$700,000 (£542k). She then sold the shares for $849,000 (£658k), say prosecutors.

    The indictment listed many other alleged incidents of Mr Lewis telling friends, girlfriends and employees to invest in stocks based on insider information.

    Insider trading is the illegal practice of using confidential information to trade on the stock exchange to one’s advantage.

    Mr Lewis is reported to be one of Britain’s richest men. According to the indictment he has a 98-metre superyacht that at times is his primary residence.

    He also owns a stake in UK pub chain Mitchells & Butlers. He was ranked 39th in the 2023 Sunday Times Rich List, with an estimated worth of more than £5bn.

  • Niger’s president being held inside palace – Security sources

    Niger’s president being held inside palace – Security sources

    Niger presidential guards are holding President Mohamed Bazoum inside the presidential palace in the capital, which has been blocked off by military vehicles since Wednesday morning, security sources said.

    The movements have the semblance of four military takeovers that have hit neighbouring Mali and Burkina Faso since 2020.

    Ministries next to the palace have also been blocked off, and staff inside the palace have not been able to access their offices, presidency, and security sources said.

    The rest of Niamey appeared calm, with normal morning traffic on the road and full internet access, a Reuters reporter said.

    Previous coups in Burkina Faso and Mali were spurred in part by frustrations over authorities’ failure to stem an Islamist insurgency blighting the Sahel region, which includes Niger.

    Read Also: Tinubu warns coup plotters in Niger Republic

    There was also a thwarted coup attempt in Niger in March 2021, when a military unit tried to seize the presidential palace days before Bazoum was due to be sworn in.

    In 2021, the Guinean special forces arrested the president, Alpha Conde, and announced a nationwide curfew “until further notice” as well as the replacement of governors by the military.

    “We have decided, after having taken the president, to dissolve the constitution,” said a uniformed officer flanked by soldiers toting assault rifles in a video sent to AFP.

    (Reuters/NAN)

  • 2023 FIFA WWC: Grant expects Super Falcons to play ‘open game’ against Australia

    2023 FIFA WWC: Grant expects Super Falcons to play ‘open game’ against Australia

    Australia defender Charli Grant says she is expecting the Super Falcons of Nigeria to be more attacking-minded when both countries clash on Thursday in their second game of the ongoing Women’s World Cup

    The Matildas picked up a hard-fought 1-0 victory over the Republic of Ireland at the Olympic Stadium in Sydney on Thursday.

    The Irish defensive approach in the contest made it difficult for the Aussies to play their free-flow attacking style, resulting in them claiming a slim advantage over the European debutants.

    However, Grant predicts the Falcons to embark on a different approach and be more attacking-minded than the Irish.

    Read Also: 2023 FWWC: Super Falcons to go for broke  against Matildas

     It will be probably more of an open game on Thursday because Ireland does like to sit in the box, While Nigeria like to press high, She said in a press conference on Sunday

    The two countries will see the encounter as a winnable fixture, as a victory for either side will be a big step toward securing a place in the next round of the showpiece.

    Australia lead the group with three points after their victory over Ireland, while Canada and Nigeria are locked on one point, and Ireland remain at zero point.

  • Omeruo off to Turkey to join four-time Süper Lig champions

    Omeruo off to Turkey to join four-time Süper Lig champions

    Super Eagles defender Kenneth Omeruo has arrived Turkey to finalise a move from CD Leganes to Super Lig side, Kasimpasa.

    As reported by Spanish outlet AS Diario fews weeks ago about the willingness of the Spanish club to part ways with the Nigerian international this summer, with the aim to remove him from their wage bill as he is currently among the top earners at the club.

    Now, according to Daily Post, Leganes and Kasimpasa have agreed to a deal for the transfer of the 29-year-old former Chelsea defender to move to Turkey this summer.

    Read Also: Leganes looking to cash in on Omeruo transfer

    He is now expected to complete the final details of the deal and undergo medicals in the coming days. The completion of the transfer will see Omeruo departs from Spain after five years with the Segunda division club.

    Omeruo is making a return to the Turkish Super Lig club after a previous loan stint in the 2017/18 season, and has been given permission to sort out the final details of the transfer after leaving Leganes’ training camp a few days ago.

    The Super Eagles defender will reunite with other Nigerian players plying their trades in the European country.

  • Messi scores twice on first Inter Miami start

    Messi scores twice on first Inter Miami start

    Lionel Messi scored twice and assisted once on his first start for Inter Miami in a 4-0 win over Atlanta United.

    The Argentina star, 36, scored two inside the opening 22 minutes before setting up team-mate Robert Taylor in the second half.

    After netting his second, Messi celebrated by pointing at Inter Miami owner David Beckham.

    His performance follows a match-winning stoppage-time free-kick on his debut last week.

    “He can do everything on the ball. He can keep it in tight spaces, and he makes the right decision 100% of the time,” said Taylor.

    “Most of the time he’ll find one of his team-mates. He brings so much quality to the team, so much. I mean, he’s the best player in the world.

    “This is what he does – he scores two goals, he scored last game, gets another assist. It’s a dream come true to play with him.”

    Messi, who is a seven-time Ballon d’Or winner, only trained with his team-mates for the first time last week after moving to the Major League Soccer side following the end of his contract at Paris St-Germain.

    The 2022 World Cup-winner scored 32 goals in 75 games during a two-year spell with the French champions and turned down lucrative offers from other countries to play in the US.

    Messi opened the scoring in the ninth minute, firing home a rebound from his own shot after controlling a ball over the top from former Barcelona team-mate and fellow new arrival Sergio Busquets.

    He doubled the lead 13 minutes later, combining with Finland midfielder Taylor to slot home a low cross from close-range.

    Read Also: Messi opens Inter Miami’s account with stunning free-kick

    Taylor added a third before half-time, before Messi put the 28-year-old through on the break in the second half to complete the scoring.

    Messi was substituted in the 78th minute to a standing ovation, with a number of fans leaving the 20,000-seat DRV PNK Stadium shortly afterwards.

    “I really didn’t notice. However, with the type of player he is, it’s justified that this happens,” said Inter Miami head Gerardo Martino.

    “I would have preferred that the public stayed and pay tribute to the entire team, but I can also understand it.”

    The win saw Inter Miami move into the knockout stages of the Leagues Cup.

  • Presidency: Federal universities remain tuition-free

    Presidency: Federal universities remain tuition-free

    The Presidency has debunked rumours that the Federal Government increased tuition fees in its universities, explaining that government has not even introduced a tuition fee in any of the institutions.
    There have been serious public agitations over the decision of some federal universities, including the University of Lagos and University of Abuja, to increase charges payable by students.
    Some stakeholders came down hard on the affected universities while calling on the Federal Government to sort out the situation, citing how it would worsen the already harsh effect of the economy on parents.
    However, in a statement on Wednesday by the Special Adviser to the President on Special Duties, Communication and Strategy, Mr Dele Alake, the Presidency said Federal iniversities remain tuition-free, adding that President Bola Tinubu’s administration is working on other measures to make education reachable to all, besides the Students’ Loans Scheme.
    Reacting to the wrong understanding of what recently happened in some federal universities, where fees have been hiked, the Presidency explained that the tuition item on the list of payable fees of such school remains remains without a price-tag.
    “It was widely reported earlier this week across some news media outlets that the Federal Government had increased tuition fees in federal universities in the country.
    “These reports are inaccurate and not correct.
    “We are aware that some universities have in recent weeks announced increase in the amount payable by students on sundry charges.
    “However, the fact remains and we have confirmed that these are discretionary charges by each university for hostel accommodation, registration, laboratory and other charges. They are not tuition fees.
    “Authorities of these universities even made this fact clear enough in explaining the rationale behind these new fees.

    Read Also: On President Tinubu’s food security plan

    “For avoidance of doubts, federal universities in Nigeria remain tuition-free,” the presidency said.
    It further assured Nigerians that President Tinubu remains committed to make education reachable to all Nigerians, promising that more innovative solutions are still being planned to make the resolve achievable.
    “President Bola Ahmed Tinubu remains committed to his promise of ensuring that every Nigerian, regardless of the economic situation of their parents, have access to quality tertiary education.
    “In addition to the Students’ Loans Scheme, under the Student Loans Bill signed into law by President Tinubu last month, which will go into implementation ahead of the next academic session in September, the Federal Government will also strengthen other mechanisms to support indigent students.
    “Parts of the government’s plans to make sure all diligent students complete their education on time, notwithstanding their parents’ financial situation, include work-study, merit-based scholarships and grants,” it added.
  • E-Naira designed to complement existing physical Naira… CBN

    E-Naira designed to complement existing physical Naira… CBN

    The Central Bank of Nigeria (CBN) on Wednesday said that its e-Naira policy was designed to complement the existing physical Naira and to provide a more efficient, secured, and accessible means of payment.

    Mr Haludu Andaza, Branch Controller, CBN, Bauchi said this on Wednesday, when the Apex bank took its e-Naira policy campaign to the Federal Polytechnic, Bauchi.

    Andaza also said  the policy would aid financial transactions in institutions, adding the e-Naira was the digital currency of Nigeria.

    According to him, it represents a remarkable leap forward in how we interact with money, and it is tailor-made to meet the needs of our vibrant and dynamic community.

    “One of the primary advantages of the e-Naira lies in its unparalleled convenience, because with this digital currency, individuals can swiftly and easily make payments without relying on physical cash or traditional payment cards.

    “The e-Naira streamlines the payment process, allowing for seamless transactions in various scenarios.”

    The branch controller explained that the e-Naira operated on robust block chain technology, ensuring a high level of security.

    “This advanced technology makes it incredibly challenging to counterfeit or compromise the currency, providing peace of mind to both users and businesses.

    “By adopting the e-Naira, we booster the integrity and trustworthiness of our financial ecosystem,”  he said.

    Andaza also said the e-Naira initiative was expected to play vital role in promoting financial inclusion, particularly for individuals without access to traditional banking services.

    Read Also: VIDEO: DSS rearrests suspended CBN Gov Emefiele

    He stressed the need for the polytechnic community to embrace and migrate to the cashless system for financial security and efficiency using the E-Naira platform.

    “This digital currency opens doors for those who may have been previously excluded from the formal financial system, granting them the ability to engage in digital transactions and experiencing the benefits of financial empowerment.”

    In his remarks, Alhaji Sani Usman, Rector of the institution lauded  the CBN initiative and campaign to educate the management and Nigerians on the e-Naira policy.

    He assured that the institution would embrace the policy and ensure its success by ensuring that both staff and students keyed  into it.

    (NAN)

  • Anambra community to immortalise Achebe with varsity

    Anambra community to immortalise Achebe with varsity

    Indigenes of Ogidi Community in Idemili North Local Government Area of Anambra State have concluded plans to establish a university to be named after late literary icon, Prof. Chinua Achebe.
    Traditional ruler of Ogidi Kingdom, Igwe Alex Onyido disclosed this at the 10th year anniversary of late sage held at the community’s Town Hall.
    He moved a motion seeking support of the community leaders for university project which was generally adopted.
    According to the monarch, the community would provide land through donation or purchase where the University would be sited, calling on Prof Chukwuma Soludo-led administration and spirited Nigerians to support project.
    He further said that the institution would train more youths to be like Achebe as their role model.
    According to him: “Our late illustrious son, late High Chief (Prof) Chinua Achebe, Ugonabo Ogidi, was a traditionalist, a political and social critic and above all a globally celebrated literary icon who distinguished himself from among his comtemprories.
    “The only way we can immortalize Achebe is to establish a university in his name because he touched many lives educationally, socially and otherwise.
    “His legendary works of arts and literature have placed Ndigbo, Nigeria and Africa as a whole at the zenith on global scale.

    Read Also: Chinua Achebe laureate Nze Sylva Ifedigbo

     

    “We use this opportunity to passionately request for immortalization of Prof Achebe in line with federal government’s promise in 2013 through ex-president Goodluck Jonathan by naming Anambra State Umeri after him, erecting his statue at Ugwunwasike roundabout and establishing a university in his name.”
    Governor Soludo praised people of the community for organizing the anniversary of the late sage, saying Achebe deserved better recognition and immortalization in view of the fame and pride he brought to the state through his literature works.
    He immediately approved the siting of Achebe’s statue at Ugwunwasike roundabout and dredging of flood site at Ogidi along old Awka road to protect lives and property.
    Former Commissioner for Information, Mr. C.Don Adinuba described Achebe as a great man who devoted his life for humanity, saying that he used his literature work to galvanize Ndigbo to chart a noble course of self reliance.
  • Woman jubilates as court sentences son’s killer to death

    Woman jubilates as court sentences son’s killer to death

    Mrs Kate Nwokolo, mother of slain Ndubuisi Nwokolo, has expressed joy over recent death sentence judgement by Anambra State High Court on killer of his son, Ikechukwu Udensi, popularly known as Ikanda.
    The deceased, an Onitsha based businessman, was reportedly killed by Udensi, a notorious robbery kingpin and revenue agent on June 29, 2018, on the eve of ban date of commercial motorcycle operations in Onitsha.
    Udensi Udensi, aged 27, from Azia in Ihiala Local Government Area was said to have descended on the deceased following his intervention over his (Udensi’s) alleged extortion of a cyclist he boarded.
    “The cyclist was conveying Nwokolo to his shop at No 21 Otumoye street Odoakpu, Onitsha when he was accosted by Ikanda and was about extorting him but Nwokolo intervened.
    “Ikanda and his boys in the process, descended on him, beating him with machetes, cutlasses and other offensive weapons until he breathed his last,” an eyewitness said.
    The death of Nwokolo generated public outcry  especially as to why Udensi should be attacking people in course of his duty at the slightest provocation.
    He was reportedly at large for a while until declared wanted by Police Command under the leadership of CP Mustapha Dandaura who placed N1million bounty on anybody with useful information leading to his arrest.
    He was eventually arrested on March 31, 2019,  prosecuted and committed to prison custody in Onitsha before he was finally convicted.

    Read Also: Court affirms CONUA, NAMDA as trade unions

    The deceased mother, Mrs Kate Nwokolo, had for the past five years continually cried for justice over her son’s death, until the judgment at the High Court sitting in the commercial city.
    Delivering the judgement, Presiding judge, Justice D. A. Onyefulu said the convict shall be hanged until life goes out of him and shall be committed to the prison custody before his death.
    The jubilant woman, in a chat with newsmen in Onitsha, thanked God of justice for allowing truth to prevail, expressing satisfaction with the judiciary for the final decision which she described as succour to the entire family.
    “For these past five years, the entire family have continually cried for justice over the unwarranted gruesome murder of our son and breadwinner of the family, leaving behind his wife and children to wallow in penury.
    “I thank the God of justice for allowing truth to prevail. I also thank the judiciary for finally doing the needful. Indeed, justice delayed is not justice denied,” she said.
  • The “uncommon President” of the Senate: Akpabio in the eyes of Yari

    The “uncommon President” of the Senate: Akpabio in the eyes of Yari

    • By, John Mayaki 
    In the hallowed halls of the Nigerian Senate, a leader has emerged who commands admiration and respect from his peers. President of the Senate, Godswill Akpabio, is being hailed by Senator Abdulaziz Yari as a listening and selfless leader, possessing all the qualities required to lead the 10th Senate and deliver on its promises to Nigerians.
    During the unveiling of a book written by the Senate Leader, Opeyemi Bamidele, Senator Yari, a former Governor of Zamfara State and a former aspirant for the office of the President of the 10th Senate, expressed his pride in the current leadership of the National Assembly, led by Senator Godswill Akpabio.
    “He is a listening leader,” Senator Yari declared, highlighting one of Akpabio’s outstanding qualities—an “uncommon” President of The Nigerian Senate. A leader who listens to the voices of his colleagues demonstrates a deep regard for their input, opinions, and concerns, fostering an atmosphere of inclusivity and collaboration. This attribute is crucial in a diverse legislative body like the Nigerian Senate, where different perspectives must be considered to find the best solutions for the nation.
    Senator Yari further commended Akpabio for his recent display of quality leadership during a Senate sitting. Despite ruling against his own position on an issue, Akpabio exhibited the kind of leadership that places the greater good of the nation above personal interests. Such selflessness and willingness to make decisions based on merit are rare and commendable traits in a leader.
    The mention of President Bola Tinubu, a prominent political figure in Nigeria, in the context of Akpabio’s relationship, hints at the strength of their alliance. A leader’s ability to cultivate meaningful relationships and partnerships is essential in advancing the nation’s interests. Akpabio’s bond with Tinubu is seen as a catalyst that will propel Nigeria to the next level of progress and development.
    Senator Yari’s assertion of the Senate’s unity behind Akpabio reinforces the notion that he commands the respect and support of his fellow senators. A united Senate, working together towards a common goal, is crucial in achieving legislative objectives that benefit the Nigerian people.
    With Akpabio at the helm, Senator Yari firmly believes that Nigeria is bound for the promise land—a future of hope, growth, and prosperity. The Senate’s leadership under Akpabio is perceived as a vehicle that will steer the nation towards the fulfillment of its promises to the citizens.
    In the eyes of Senator Yari, Akpabio embodies the qualities of a true leader: a listener, a selfless decision-maker, and a unifying force. As the President of the Senate, Akpabio’s leadership journey has just begun, and Nigerians eagerly anticipate the positive impact he will make in shaping the legislative landscape and contributing to the nation’s progress.
    With the backing of his colleagues, the strength of his relationship with influential figures like President Bola Tinubu, and his commitment to putting Nigeria first, Akpabio is set to lead the Senate with determination and purpose. As the 10th Senate embarks on its legislative journey, the nation’s hope rests on the shoulders of a leader esteemed by his peers—an uncommon president, Godswill Akpabio.
    However, before Senator Yari’s testimony on the “uncommon” President of the Senate, it is essential to acknowledge Godswill Akpabio’s remarkable journey in Nigerian politics. His distinguished record as the former governor of Akwa Ibom State and vast public service experience have positioned him as a leader determined to be an “uncommon transformer.” During his tenure as governor, Akpabio left an indelible mark on Akwa Ibom State, earning him the moniker “the uncommon performer.”
    His transformative initiatives spanned various sectors, with a keen focus on human capital development and infrastructure. From education to healthcare, Akpabio’s administration prioritized the welfare and empowerment of the people. The signing of the Child Rights Acts into law protected children from abuse and ensured access to quality education, while free and compulsory education up to secondary school level empowered the younger generation for a brighter future.

    Read Also:  Cleric prays for Akpabio’s CoS

    Furthermore, Akpabio’s commitment to social issues and human empowerment saw the establishment of the Ibom Specialist Hospital, providing much-needed medical services to the people. His efforts to combat poverty and youth unemployment through free medical treatment initiatives showcased his dedication to uplifting the lives of his constituents.
    Now, as the President of the Nigerian Senate, Akpabio has vowed to bring his transformative touch to the nation’s highest legislative body. His intention to introduce reforms and tackle the challenges facing Nigeria through legislative means reflects his commitment to assisting President Tinubu’s administration in succeeding.
    With the support of colleagues from different parties and the backing of influential figures like President Bola Tinubu, Akpabio’s leadership is poised to guide Nigeria towards a brighter future. As the 10th Senate commences its legislative journey, the nation looks forward to witnessing the positive impact of an “uncommon president”—Godswill Akpabio.
    Mayaki is a developmental and multi-skilled journalist, Historian and Diplomat. He’s a Communication, Culture and Media expert (Coventry University, England). An Oxford and Cambridge University-trained entrepreneurship, leadership and sustainability expert. He’s also a Professional Consultant on Communication, Management and Strategy (Chattered Management Institute, England).
    He writes from Abuja and can be reached on info@johnmayaki.com