The Nation Newspaper

Tag: FREEZE

  • EFCC gets order to freeze firms’ accounts

    EFCC gets order to freeze firms’ accounts

    THE Federal High Court in Lagos has frozen 23 bank accounts belonging to some companies, who are being investigated for alleged fraud.

    Justice Chuka Obiozor made the order based on an application by the Economic and Financial Crimes Commission (EFCC).

    EFCC’s lawyer Mr. Murtala Usman said the accounts are in eight banks.

    The respondents in the case are: Wale Adekunle, Tosin Affinnih, Edward Williams and Olayinka Loveth.

    The affected companies are Atlantic Finaplux Limited, Manhattan Corporate Essential Limited, Jodaf Investment Limited, Frenolen International Limited, Medlams Global Services, Tankarawa Bureau De Change, Self-Reliance Advancement Programs and Desmie Medical Services.

    Others are Calculus and Company, Mass Investment Fund, Limited, Domareen Global Services Limited, Mayiwa Williams Samuel, Sodipo Oludare, Soyode Akinlanwon, and Buchi and Seyi Obiefuna.

    The EFCC sought an order empowering its Executive Chairman or any other officer to instruct the banks’ managing directors to freeze the accounts pending the conclusion of investigation.

    After granting the application, the judge ordered the EFCC to publish the order in two national newspapers for anyone who may have interest in the accounts to show cause as to why the order should not be made absolute.

    According to EFCC investigator Boniface Uzoechi, on July 6, the commission received a petition from S. D. Ijie and Associates on behalf of Equitorial Energy Limited alleging fraud and stealing to the tune of N175.3 million.

    The deponent said the complainant alleged that sometime in January, his account officer in a bank, Adekunle (the first respondent), approached him with Affinnih (the second respondent), claiming that they had a customer, who could sell dollars to the complainant.

    EFCC said the complainant alleged that N175.3 million was transferred to various accounts, and that the dollar equivalent was allegedly not remitted.

    Justice Obiozor adjourned till December 15.

  • Tithing: King Wadada throws jab at Freeze

    Tithing: King Wadada throws jab at Freeze

    In the recent controversy over giving tithes, reggae musician King Wadada, has waded in, supporting tithing.

    He said this during his performance at the AFRIMA concert which held at the AFRIMA Village in Lagos.

    “I hear say one media personality get problem with paying tithes,” said King Wadada, seemingly taking a jab at Daddy Freeze, an On Air Personality and convener of #Freethesheeple, which condemns tithing.

    But Wadada admonished the audience to pay their tithes just because he launched into his song, ‘Holy, Holy, Holy.’

    “You gotta pay your tithes. And your tax too.”

    The controversy of whether to tithe or not to tithe started by Daddy Freeze has ruled the Nigerian social media space with pastors, celebrities and ordinary netizens wading into the debate.

  • Freeze of Cool FM debunks sack rumour

    Freeze of Cool FM debunks sack rumour

    On-Air-personality, Ifedayo Lucian Olarinde, popularly known as Freeze, is in the news again, with speculations that he has been dismissed from the services of Steam Broadcasting and Company Ltd, owners of Cool FM.

    Although the OAP has taken to his social media platforms to debunk the news, popular online blog, Stelladimokorkus countered his position by posting a memo that appears to confirm his dismissal.

    Earlier, Freeze said: “I never address or dispel rumors but this is the height of it! @instablog9ja, and www.misspetitienaijablog.com have both carried all sorts of slanderous stories about me in the past, without confirmation, before posting their outrageous garbage.

    But this, trust me, would be their last! If this defamatory and slanderous post is not taken down immediately, and unreserved apology is offered, via the same medium within 24hrs, I will be forced to take legal action against both blogs.

    “Yes, there are issues stemming from a meeting over presenters fees yesterday, details of which I choose not to discuss, because of the respect I have for Mr. Moussalli and his family, bus trust me it has nothing to do with Basketmouth or social media…”

    There are speculations that Freeze’s trouble started when he shared a photo throwback picture of himself and wife of popular comedian, Basketmouth.

    Although he had called the comedian’s wife a family friend in the picture caption, people gave it different interpretations, knowing that Freeze and Basketmouth are not in good terms.

    Freeze has since deleted the controversial picture he earlier posted on the social media.

  • OPEC, others head for oil output freeze

    OPEC, others head for oil output freeze

    Members of the Organisation of Petroleum Exporting Countries (OPEC) and other oil producing countries are in discussion to strike an output-freeze deal next month in Algiers, Algeria as OPEC’s biggest producers are already pumping flat-out, the group’s former president said.

    While a similar initiative failed in April, an agreement can now be reached as Saudi Arabia, Iran, Iraq and non-member Russia are producing at, or close to, maximum capacity, Chakib Khelil said in a Bloomberg Television interview. Khelil steered OPEC in 2008, the last time it implemented an output cut, which was announced in Algeria in December of that year. In a separate interview, former Qatari Energy Minister Abdullah bin Hamad al-Attiyah was convinced there is a need for an accord.

    “All the conditions are set for an agreement,” Khelil said from Washington. “Probably this is the time because most of the big countries like Russia, Iran, Iraq and Saudi Arabia are reaching their top production level. They have gained the entire market share they could gain.”

    While oil prices have advanced since OPEC announced it would hold informal talks in the Algerian capital next month, analysts from UBS Group AG to Commerzbank AG doubt any freeze deal will be completed, and comments from Saudi Arabia and Nigeria have kept expectations low. Talks collapsed in April as Saudi Arabia insisted Iran would have to limit its production, a condition the country rejected as it ramped up exports previously curbed by sanctions.

    As producers are almost pumping at full-tilt, the impact of any accord to prevent further increases would essentially be “psychological,” Khelil said. That would nonetheless have a benefit for the market, according to the Algerian, who was also the country’s energy minister from 1999 to 2010. The global crude oversupply is already diminishing, and markets will probably reach “complete equilibrium” next year, Khelil said.

  • UPGRADE YOUR MINDS, FREEZE ADVISES ARTISTES

    FOLLOWING the recent arrest and detention of singer Skale’s manager, Teresa Osagioduwa Osarenkhoe, of Baseline Records, OAP with Cool FM, Freeze, has issued out a couple of advise to up and coming artistes.

    Adding his voice to the debate about the travails some recording artistes are currently facing in the hands of their record labels, Freeze decried a situation where Nigerian entertainers spend so much pursuing comfort while failing to educate themselves on their industry.

    “One small hit and they upgrade their transportation from Marwa and Molue to a 2006 Range Rover or G Wagon with 2014 bodykit, then they upgrade their housing from Mushin or AJ City to Lekki Phase One… But the problem is they don’t upgrade their minds!!! They do business with intelligent and witty entrepreneurs while using their ‘Molue mentality’, not realising that a contract is a contract and GRA-GRA cannot break it,” he wrote.

    Freeze cited a situation where DJ Zeez was asked to pay his record label N21m. he also recalls that Vector also had issues as an artiste while Runtown was issued a court injunction restraining him from performing.

    “Upcoming artistes abeg make una learn how to read book, no be everything be swag, no be everything be gra-gra! Please don’t jump and sign your life away for a plate of porridge. Upgrade your minds. Still trying to get Osagie and Skales for their own side of the story so expect more updates… In the meantime remember to read whatever u sign o! And make sure u have a good lawyer,” he concludes.

    It was reported on Thursday that Skales and his Manager were both in police custody on allegations of various charges of fraud and diversion of Baseline Records funds.