Imo State Governor, Emeka Ihedioha Inspects Contractors Bidding For Renovation of The State Stadium

His Excellency, Governor Enema Ihedioha of Imo State was at the Dan Anyiam Stadium, Owerri, to meet, interview and select contractors bidding for the renovation of the stadium.

The Governor made this know through his official twitter handle as he shared tweets and pictures from the scene.

His excellency revealed that "the motive is to ensure that the stadium attains the standard that will enable it host local, national and international games and events and most importantly, return Heartland Football Club to their home ground".

See more pictures below

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Biodun Fatoyinbo Breaks His Silence As Busola Dakolo's Rape Allegation Video Goes Viral

Pastor Biodun Fatoyinbo

Social media went agog today as YTV shares video interview with Busola Dakolo where she revealed how a popular Abuja Pastor of The Commonwealth of Zion Assembly (COZA), Biodun Fatoyinbo raped her nineteen years ago when she was just 17 and a member of his church choir. 

Watch sneak peak of Busola's interview with Chude Jideonwo here👇

Recall in 2013, a former female worker in the church had accused Pastor Fatoyinbo of sexual harassment which neither he nor the church responded to. However, following the latest allegation by Busola who is a celebrity photographer and wife of a popular Nigerian music artiste,  Timi Dakolo, Mr. fatoyinbo and the leadership of COZA have now responded denying the allegations and threatening to take legal actions. 

See the response below👇

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LASTMA Talks Tough, Realease List of Traffic Offences and Penalties

Lagos State Traffic Management Authority

The Lagos State Traffic Management Authority (LASTMA) has released a list of Traffic Offences and Penalties as Governor Sanwo-Olu appeals to Louisiana go obey traffic rules at all times

See list of over 60 items below.. .

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International Finance Corporation To Sell Holding At Ecobank Transnational Incorporated

The International Finance Corporation (IFC) and the IFC Asset Management Company (AMC) move to sell equity holding at Ecobank Transnational Incorporated (ETI), Ecobank publish information relating to its ownership structure at The Nigerian Stock Exchange (NSE).

News have it that "The IFC (a subsidiary of the World bank) and it's Asset Management Company has entered into a share purchase agreement with a leading Dutch investment firm Arise B. V for the sale of their circa 14.1% stake in Ecobank Transnational Incorporated" (Parent company of Ecobank).

Completion of the transaction is expected in the coming months subject to due diligence, internal and regulatory approvals.

See press release below...

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Proshare Raise Red Flag On Heritage Bank In Latest Report

Photo Credit: Proshare Nigeria

Three months ago Proshare had cause to commit resources to investigate and produce an hitherto unpublished Confidential Report on Heritage Banking Company Limited, in direct response to the promptings of the advisory board members who wanted to know the true state of the bank which had another financial institution handling clearing operations for it at some time.

By this time, and curiously; it wasn’t such a big news that some of the bank depositors had experienced recurring challenges with withdrawals and staff exits did little to help matters. Yet, the restraint was important in order to ensure and support financial system stability as well as give the institution an opportunity to execute its resolution strategies without hindrance. After all, the institutional frameworks were in place to protect depositors and the system in general.

The task involved a lot of stakeholder engagements including sources we understood to be in a position to recognize, appreciate and make informed decisions. The revelations offered little comfort from history to, interventions up to the current state. We limited ourselves however to facts, data and evidence and submitted the report.

Further to the completion of this initial review, and in the interest of giving the financial system an opportunity to resolve the bank’s challenges through normal regulatory intervention and management effort at recapitalizing the institution or determination of the banks going concern status through a merger and acquisition (M&A) arrangement; the report remained private.

The burden of a moral hazard however appeared a bigger burden than tolerable or envisaged, especially given the evident ‘sailors survival’ approach that appears to have kicked in as seen through senior management exit, non-improving conditions, non-progressing talks around mergers and acquisitions; and recapitalization plans.

It has become compelling to highlight concerns about the bank formally; with the hope that ‘some intervention’ can happen to alter the trajectory of an inevitability. and remove the spectre of a bank waiting to die that overshadows the institution, unfortunately.

Proshare’s investigation into the bank revealed a few major concerns related to corporate governance and operational stability/sustainability. The primary issues included, but were not limited to the following:

Read more on Proshare website. Click here

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Zenith Bank Customer Cries Out After Over 800k Was Withdrawn From His Account

Www.pedestriannewsng.blogspot.com 

News- Zenith bank customer looses over 800k on unauthorized transactions.

Fraud remains a common problem with financial transactions in Nigeria and it seems as if Nigeria financial service providers are helpless as more customers continue to suffer loss of their hard earned money to fraudsters.

A final year pharmacy student, Mr.  Hillary Chukwuemeka Asobara who recently suffered a huge loss in his Zenith bank account has taken to social media to seek solution. 

The young man explained how he received several debit alerts for unauthorized transactions to "Kingspay PTSK" which swept his account clean of over 800k.

See tweets below

The issue of fraud definitely poses threat to the success of fintech but what's the way forward? Are banks spending less on finacial security or is this issue of fraud so overwhelming and hopeless? How are security agencies supporting recovery? Are regulatory policies effective in this clime? Too many questions begging for answers.

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