Thursday, December 2, 2010


AIRTEL STRUCK NMILLION DEAL WITH 2FACE
After its recent change of name and management from Zain to Airtel, it became necessary to give a face to the telecommunication provider for it to still be relevant in the mind of it’s teeming subscribers.
In its bid to give face to the new entrant, Airtel has struck a multi Nmillion deal with the African Queen crooner, 2Face Idibia. The deal according to an insider in Airtel will extend for a year and it goes beyond being a model in its advert.
‘The deal includes 2Face to be the voice over artiste on most of Airtel radio jingle and television commercials’. The source quipped.
Impeccable source added that against the regular usage of brand ambassador who as mostly entertainers by some telecoms provider, Airtel will be using people who has had close shave with death and bounces back to do wonderful things not minding their field of profession.
Few weeks after the official introduction of Airtel, its new management sent most of its Eggheads packing replacing them with new ones who they claimed has the spirit and desire to move the telecoms outfit forward against all odds.

SPONSORSHIP WAR
MULTINATIONAL BRANDS JOSTLE TO SPONSOR KANU NWAKWO’S BIO MOVIE
We can authoritatively tell you that Kanu Nwakwo, Africa's most decorated football player is set to release his biography in form of docu-movie format which will be circulated across the world.
As scenes in the movie will be shot in cities across five different countries including Nigeria, Netherland, USA, England and Italy, multinational brands are at loggerhead to sponsor the movie. It was gathered that many brands has indicated their interest months back on the movie without response from Kanu’s agent but it took a new dimension when Kanu’s agent penultimate week release the list of its production crew that include Oscar nominee, Davide Cinzi who was signed as the Director of Photography alongside Peter Jackson who director Lords Of the rings Film, Caroline Deeds to direct and edit, Laurie Mcdowell also as editor.
Those who should know revealed that multinational brands across the world now run after the production crew of the movie to be their private sponsors. Multinational brands in Nigeria are not left out as they now engaged in running other down during the pitching meeting in the presence of the foreigners who are in the production crew because of the massive mileage the film will offer. Some agency were said to have sent mails to the foreign production crews not to drink a particular kind of bottle water but should patronise their own because it’s the best. Some have concluded plans to shoot television commercials to run other brands down all in the sake to be part of Kanu Nwakwo’s movie.
The film is about his accomplishment, his travails and his toils among others and will be ready before the end of first quarter of 2011.

MULTI NMILLION FRAUD ROCKS MULTILINKS
-TELKOM THREATENS TO PULL OUT
There are indications that another telecommunications provider in Nigeria may undergo a metamorphosis soon, as Telkom of South Africa prepares to pull out of Multilinks Nigeria based on alleged fraud that is currently rocking the company.
Impeccable source added that the alleged fraud has been going on in the telecoms outfit for almost a year now but become visible after the visit of external auditors from Telkom, South Africa. Those who should know divulged that the missing money from the auditor’s report amount to multi Nmillion which cannot be ignored by the Telkoms. Sources who preferred anonymity opined that the alleged fraud was detected from departments like Data and Informations and corporate communications.
An insider revealed that Telkom acting CEO, Jeffrey Hedberg was angry when the news of the alleged fraud got to him and he immediately suggested the pull out of its company from the dying Multilinks. It was gathered that the auditor report revealed that normalised headline earning per share from continuing operations decreased by 5.3 per cent for the six month ended September 2010 which revealed that the telecoms operator is in crisis. Those privies to reliable information disclosed that the noise of MultiLinks that it has over 2.5million subscribers, the CDMA operator with the highest coverage and that the owned the fastest broadband internet services are lies to indicate that all are well with the telecoms provider to partners like Telkom, South Africa.
Effort to speak with the Eggheads in Multilinks prove abortive but a top staffer who was interviewed at its head office in Motorways building in Ikeja did not deny the fact that Telkom is ready to pull out but she is not aware of the fraud.
Multi-Links Telecommunications Limited was incorporated in 1994 as a private limited liability company under the Laws of the Federal Republic of Nigeria. It was licensed by the Nigerian Communications Commission (NCC) to operate and provide telecommunications services deploying CDMA (Fixed Wireless) technology. It commenced operations on the 8th of December 1997 as the pioneer operator in the deregulated telecom industry in Nigeria

LFZ AND ITS EXHIBITION ARE WORLD CLASS INITIAVES
-THOMPSON ADEYEMO, DEPUTY MANAGING DIRECTOR

Lekki Free Zone Development Company is a joint venture between the Lagos State Government in Nigeria and a consortium of Chinese Companies known as, CCECC-BEYOND International. The Company has access to Government departments in both China and Nigeria including the Customs Department, and the Nigeria Export Processing Zones Authority (NEPZA) to ensure the maximum granting of the preferential polices and incentives for the investors in the zone.
In an interview with A&B, the company’s Deputy Managing Director, Thompson Adeyemo reveals the mission of the trade zone, why it’s staging a first of its kind exhibition among sundry issues.

Let’s get to know you sir
Adeyemo Thopmson is my name and I am the Deputy Managing Director of the joint venture company known as Lekki Free Zone. I am a legal practitioner by training and was called to the Nigerian Bar in 1983 and operates a law firm until I was appointed a Special Assistant to the former governor of Lagos State, Asiwaju Bola Ahmed Tinubu on the free zone project. The vision made the present Governor Babatunde Raji Fashola to appoint me as the Deputy Managing Director.

What’s the vision of Lekki Free Zone
In order to fully utilize the business potential interest in Lagos State and to also optimise the benefits therein, the Lagos State Government, through the initiative of Asiwaju Bola Ahmed Tinubu, constituted two committees in December 2003 to midwife the Lekki Free Trade Zone Project for the stimulation of the entire economy, attracting local and foreign investors, diversification of the state revenue base, creating and encouraging backward images and integration with foreign partners, ensuring effective exploration of the country's abundant resources, generation of employment opportunities and skill acquisition for the masses, creation of wealth for the citizens
Free zones are tailored to the needs of the society and Lekki Free Zone is tailored to meet the demand of Lagosians. The concept goes beyond industry, but building a mega city. The whole idea is to have people work and leave in their vicinity or proximity.

This laudable project must have its challenges, what are they
A project of this magnitude must have its challenges and some of the challenges here come with different measures that include community issues. Even in China, these occur because our partners here related what their experience was when they were trying to build a trade zone there too. We’ve attended free zones conferences where issues of community are related so that’s why I said it’s not unusual.
Another challenge is the infrastructure. Lack of good roads, electricity problems and all what developing countries go through are what we are experiencing.
In developing country, all these infrastructures are not present which is a challenge too. Don’t forget that we are selling a free zone idea that is not known yet, so it’s going to be a little bit hard to gain acceptance now. We had issues with even the government’s agencies who don’t have the idea of what the free zone looks like, but with lots of training, they now understand that you don’t need to get to the port, with the aid of a free zone, to clear your goods. We’ve been able to overcome almost all these challenges.

Will sub-standard goods importer not see these free zones as an avenue to import their goods with
less supervision
The free zone also operates as a government agency and that’s why we have Nigeria Export Processing Zones Authority (NEPZA). The licensing, monitoring and regulation of Free Zones Scheme in Nigeria is vested in the Nigeria Export Processing Zones Authority by the Nigeria Export Processing Zones' Act 63 of 1992. Several factors are responsible for the adoption of Free Zones Scheme in Nigeria, amongst which are the diversifications of the revenue base of the economy, employment generation and to encourage export through local production.
The enabling Act also confers on the Authority the power to approve and grant all licenses and permits to the exclusion of all other Agencies, enforce obedience and compliance to rules and regulations. In effect, the Act is an omnibus law, which permits the Authority and its Board the power to define the policy directions and provide a One-Stop-Shop business transaction without bureaucracy. When we start full operations, agencies that regulate standard and quality will be at the gate of operations and the act that established us never supported that.

Definitely goods will be imported from China, which is known for sub-standard goods, what’s your take on that
That is a misconception. The Chinese government is aware of this misconception and that is one reason their government has approved us as their authorised agency to clear goods coming from the country instead of it being smuggled into the country from a neighbouring country. We will ensure that goods coming here will be of good standard.

Let’s talk about your coming exhibition, what do you tend to achieve
The exhibition will be coming up between November 23 and 25 and we are calling on all prospective investors in this country to respond to this lifetime opportunity. This exhibition is going to be first of its kind in this part of the world, attracting multi-national brands from every part of the world.
It is going to create employment, build Nigeria manufacturing industry that is dying, help local contractor by exposing them to their experienced counterparts and many more. We have the support of both the state and federal government on this project and we have government agencies around too. These government agencies have been sent abroad for courses to have a good knowledge of how free trade zones operate.
You are familiar with the international trade fair in this country, but I tell you that what this exhibition is going to look like is what is available in places like China and America.

Where do you want to see Lekki Free Zone in few years to come
To be in the same class with Tuzo, free zone of international repute in China that make use of the water ways. We want people to be here and not recognise that they are in Nigeria, to become a world standard trade zone of class

CAPITAL OIL SOARS HIGH IN PETROLEUM DISTRIBUTION
Capital Oil & Gas Industries Limited was incorporated in 2001, but commenced full operations in 2003, following the deregulation of the downstream sector of the oil and gas industry by the Federal Government of Nigeria. It started with the supply and distribution of petroleum products and had a speedy growth which culminated in the establishment of a petroleum depot in Apapa, Lagos. With the commissioning of the first phase of her ultra modern tank farm in 2007, the development of the 2nd and 3rd storage facilities in 2008, the acquisition of four tanker vessels, a fleet of trucks and a dedicated private jetty at Ibafon, the company has become one of the leading indigenous petroleum marketers in Nigeria.
Its recent achievements include the Lagos ultra modern truck park that can house close to 5,000 trucks at once. Other facilities lay outside Lagos, confirming the company’s vision to become Africa's first choice provider of energy solutions through continuous innovation, strategic partnership and customer service delivery.
To provide excellent service aimed at totally satisfying its numerous esteemed customers in the Oil and Gas Industry by continuously striving to meet their sophisticated needs and requirements through modern practices in a safety conscious environment, using a team of motivated and highly dedicated professionals of multi-disciplinary background and relevant experience, and maintain healthy financial returns to the company through sustainable growth, Capital Oil and Gas limited is set to give scour to Nigerians in rendering community service responsibilities that include road construction to donations of values to both government parastatal, corporate bodies and individuals.
Speaking with the business tycoon, Ifeanyi Ubah penultimate week, he said this about his company, “We own the largest private jetty in Nigeria today, we own the largest storage facilities in the country today, we own the biggest truck parking facility in the country today and we have the biggest strategic reserve in the country today. We are the only company that has loading arms that can serve three days of Nigeria’s consumption need.” The rising of profile of Capital oil and Gas limited cannot be over emphasized.

CHEN XIAOXING, MD, LEKKI FREE ZONE DEVELOPMENT COMPANY
In the face of economic globalization with the support of both Chinese and Nigerian government, Lekki Free Trade Zone (LFZ), a sino-Nigeria, is being developed as a model of co-operation between the two countries for the purposes of mutual benefits and bilateral relationship.
In an exclusive interview, the Managing Director of LFZ revealed the challenges facing the trade zones, its mission in the country and why it’s embarking on first of its kind international exhibition that is coming up this month.

Why Lagos Free Trade zone
The idea came up in year 2002 from me when I was working in a construction company back then as the MD. I observed that virtually everything were imported in Nigeria and I considered what it would be like to operate a trade zone in Nigeria with the support of the government where duties and taxes will be virtually free for all. Nigeria is really suffering, the country makes money from crude oil and spends most of it on importation.
In China, our last 30 years was hectic and full of suffering, but with the introduction of a policy called Urban Door Policy, which supports free trade zone hardship became a thing of the past. So, I took my idea to the former governor of Lagos State, Bola Ahmed Tinubu who was excited and he told me he had similar idea. He committed his support with provision of a land space and all necessary logistics needed to make it a reality. It was incorporated in 2006. We are the sole developer and investor for establishment, development, operating and management of LFZ in the form of joint venture by the Chinese partner- China-Africa Lekki Investment Ltd and the Nigerian partner- Lagos State Government and Lekki Worldwide Investment Ltd.

What is the investment focus of LFZ
LFZ will focus on several areas of investment and warmly welcomes investors from all over the world to invest and establish their businesses in the zone either in the form of sole ownership or joint venture partnership. The include electrical home appliances and electronic product, textiles and garments building materials processing of agricultural and agro allied products machinery manufacturing oil and gas real estate sea ports power plants and many others. The list is endless.
The investment advantages include the fact that we will handle and assist investors and enterprises in the zone to apply for operating licences and other legal paper on behalf of the relevant government authorities. On-site processing of taxes and levies payable as well as customs clearance of imports for the investors and enterprises in the zone and many more benefits

What are the challenges
There are many challenges; one of them is different culture i.e China/Nigeria. Though we have the same goal, we have to contend with each other’s shortcomings. The second one is the community. It was not easy operating here until Governor Babatunde Fashola of Lagos made us to now have cordial relationship. We also have issues with security, transportation, and most especially, electricity. On the issue of electricity, we are going to build our stations and generate electricity for both the trade zones and the community. Our major challenge is the accessibility of the road by investors. Very soon, we are going to construct roads and bridges that will make us accessible to every part of the states and its environs. LFZ is located on the tip of Lekki Peninsula to the South-east of Lagos State. It borders Lekki Lagoon in the north and faces the Atlantic in the south with a beautiful coastline. As one of the fastest growing areas, Lekki will soon be turned into a modern satellite township of Lagos metropolis. Don’t forget that our mission include the fact that we want to decongest the ports and that does not mean that we will give room to sub-standard goods or allow contrabands. Against all these challenges, we are not going to forget our vision on the Lekki Free Zones Development Company.

Let’s talk about your coming exhibition, what do you tend to achieve
The exhibition will be coming up between November 23 and 25 and we are calling on all prospective investors in this country to respond to this lifetime opportunity. This exhibition is going to be first of its kind in this part of the world, attracting multi-national brands from every part of the world.
This exhibition is going to create employment, build Nigeria manufacturing industry that is dying, help local contractor by exposing them to their experienced counterparts and many more. We have the support of both the state and federal government on this project and we have government agencies around too. These government agencies have been sent abroad for courses to have a good knowledge of how Free trade zones operate.
You are familiar with the international trade fair in this country, but I tell you that what this exhibition is going to look like is what is available in places like China and America.

Of what benefit will free trade zone and the exhibition be to the Nigerian economy
Don’t forget that we have both the Chinese government and Chinese banks as part of investors in this project. They are supporting it with huge amount of money and the Lagos state government too.
This free trade zone is going to make this country very lucrative and the exhibition will expose the potentials available in this country.

WE HAVE AMBITIOUS INVESTMENT PLAN TO EXPAND P&G BUSINESS IN NIGERIA
-MANOJ KUMAR-MD P&G

P&G as a global company is over 170 years old – this makes it older than most UN member countries in the world and certainly older than almost every multinational company. Indeed, worldwide, it’s the world's leading manufacturer of high quality consumer goods. With over 300 brands sold in over 160 countries, 4.2 billion times a day P&G brands touch the lives of people around the world.
In Nigeria, P&G is 18 years this month and within this span of time, P&G has evolved into a company with a strong portfolio of leading brands such as Always Sanitary Pads, Ariel Detergent, Pampers diapers, Vicks Throat Drops, Gillette personal care products, Duracell batteries, Oral B toothbrushes and Bonux Detergent.
In this interview the Managing Director, West Africa of the company, Manoj Kumar, revealed the secret of the company’s success and its reason for pioneering social responsibility to Nigeria community.

Congrats on your 18th anniversary, how is the journey so far
We have invested well over N10 billion ($87 million) in state-of-the-art manufacturing facilities. We started local production of our Always sanitary pads in 1993, expanded into producing Pampers diapers and Vicks throat drops in 1994. In 2002, we built a new Pampers Diaper factory to produce an upgraded Pampers product. In 2004, we commissioned an ultra modern unique Always Sanitary Pads line in Ibadan. In 2006, we commissioned a new world-class Detergent factory in Ibadan. It is worth noting that this factory is P&G's first of its kind in Sub-Saharan Africa and I am proud to say that its Quality Assurance laboratory is judged as one of P&G's best in the whole of Central and Eastern Europe, Middle East and Africa. Also, over the past two years, we have further expanded production capacity across all of our Pampers, Ariel, Always and Vicks lines.
We have a business office in Senegal and distributors across West Africa in countries such as Ghana, Cameroon and Cote D' Ivoire and Nigeria has become our business hub for the entire West Africa region as we expand into all West African countries.
At P&G, we are dedicated to supporting children-in-need through our global social responsibility platform, Live, learn & Thrive - focusing on the development of children in need between the ages of 0 - 13.At P&G we consider our people to be our biggest asset and in Nigeria we have grown to be leaders in technology transfer and capability building
We employ about 1800 people either directly or indirectly in our general office, manufacturing plants, distribution, logistics, advertising etc. It is worth noting that 95% of all our managers are highly talented Nigerian men and women working here in Nigeria but also on international assignments at other P&G locations.
We are dedicated to local employee development with a budget of over $l million per year for local and international training and on-the-job coaching.
We have created over 120 new successful entrepreneurs with sustained training and marketing support in rural and semi-urban areas over the past 5 years.
This is a very exciting time in P&G's history in West Africa.
Why is it exciting? ... because we have a very ambitious investment plan to expand P&G's business in this region.
On a global level, Africa is a major focus for P&G and within Africa Nigeria is among the fastest growing markets. Its strong, dynamic and growing population - currently over 140 million people is an enormous source of strength and potential wealth.

What are the challenges you face doing business in Nigeria
Our major challenge is that of power. Most of our production lines are not even connected to the national grid, which means they have to run on diesel generators non-stop. This is very expensive as you know the cost of diesel is very high.

What new products is P&G planning to bring to the Nigerian Market
As we continue being in touch with our consumers, we will keep aiming to satisfy their needs and this is what would lead any new product or innovation in our existing products.

What other expansion investments plans do you have for the Nigerian economy
We are accelerating our investment in the coming 5 years: - over $100million in expanding production, - latest product technology - new 42 hectares site in Agbara Industrial Estate - continue investing massively in distribution and marketing.

How many Nigerians are in the employment of Procter and Gamble
Our direct work force of over 500 Nigerian men and women are a pride for Nigeria
and for P&G. P&G employs about 1800 people directly and indirectly with Nigerians making up over 95% of our managers locally and some on international assignments.
For example, our Head of HR, Folake Okunubi, our Head of External Relations, Patricia Obozuwa and several other leaders across the different departments.
We invest a lot in building local talent with a budget of over $lmillion per year for
local and international training and on-the-job coaching.

How many brands does Procter and Gamble have in its portfolio, and how many are available in Nigeria?
We have over 300 brands globally, but in Nigeria we have just Ariel, Bonux, Vicks, Always, Pampers, Duracell, Oral B and Gillette e.t.c. So you see, there is so much growth potential for our Nigeria business.

You mentioned future investments in Nigeria, specifically what are these investments
We will invest in the next years over 100MM$ in Capital. We will open a 2nd production site in Nigeria. We are increasing capacity in detergent and have additional lines for Pampers & Always. These investments will generate IV 600 new direct jobs and thousands indirectly with our suppliers and distributors in cities and rural areas.

Will all your future investment plans for Nigeria go into your current site in Ibadan or you have branches in other parts of Nigeria
While some new investment such as the expansion and upgrading of our production lines is in our Ibadan plant, we will also have a second manufacturing plant at the Agbara Industrial Estate.

Why don't you expand your plant in Ibadan further
Our investment plans are very ambitious and the current Ibadan site does not have the capacity to accommodate this. In addition to that, Ibadan is not the most cost effective option right now. This is essentially due to lack of reliable infrastructure like energy supply, but also due to the distance/logistics costs given distance of the port, majority of our suppliers and 50% of our key customer.

Will P&G Ibadan site close down over time
There is no plan to close Ibadan site. We are opening a 2nd production site which will be a state-of-the-art Diaper and Feminine Protection Plant in Nigeria. We will have more productions lines there; 5 vs. 2 today and we will bring the latest technology.

With the move of your paper lines from Ibadan to the new site, will you
lay off jobs in Ibadan
There are no plans to layoff people. On the contrary, with our investment project, we will create an incremental 600 direct new jobs. The employees that are working currently on Babycare and Femcare lines in Ibadan will be offered to relocate to Agbara Industrial Estate.

Talking about making Nigeria a hub for West Africa, what are you doing in that regards
I am pleased to say that today Nigeria is P&G's business hub for West Africa. We control our entire WA business from Nigeria. We have also exported some products from here to other countries. However, the size of these exports could be much higher. We want to grow the size of our exports to the rest of West Africa, but it is not certain by how much we can do this with our high material duties which make local production uncompetitive.

We are informed that your Ibadan plant is just window dressing to deceive the government when you are actually importing. What is your comment on this
This is not true. Our Ibadan Plant is there for all to see. We have been there for 18 years and have increased production capacity over time to meet the Nigeria demand. We have over 1,000 direct and indirect employees working there everyday. You are welcome to visit our facilities yourself anytime.

P&G has been in Nigeria for 18 years. How come you have never had a Nigerian Managing Director
Our Nigeria business started very small 18 years ago and our growth has accelerated greatly over the last five years. P&G employs about 1800 people directly and indirectly with highly talented Nigerian men and women making up over 95% of our managers leading the growth of this company locally and some of them on international assignments.

Can you tell me what your current market shares are
I can say that globally P&G brands are leaders in most of their categories.

How much turnover do you make every year
Globally, we made sales of over $78billion dollars in the last concluded fiscal year. We do not share the regional turnover figures publicly - it's confidential information.

How come you only have few brands in Nigeria out of so many brands that P&G has globally? What are the other categories you plan to bring to Nigeria
As the saying goes, "Rome was not built in a day" It is one step at a time. You start, consolidate and then grow. That is precisely what we are doing. We are inspired by our Nigerian consumers and we are committed to serving them. As we listen to them, we will continue to provide the latest product technology to meet their needs and budgets.

ORANGE DRUGS BOSS, TONY EZENNA IN SECRET ROMANCE WITH ACTRESS, NADIABUARI
Information filtering in indicate that the contractual arrangement between popular Ghanaian actress Nadia Buari and Orange drugs limited owned by man of means Tony Ezenna is more than meet the eye.
Investigation revealed that the business arrangement that has transformed the rave actress into the official face of Devon, the latest product on the label of Orange drugs limited is a ruse for a bristling romance between Mr Ezenna and Nadia.
Informants revealed that the business arrangement is one of the gains of the romance for the actress.
Those who should know revealed both Nadia and Ezenna had been engulfed in a secret affair before the issue of contract came into play.
Ezenna was said to have initiated the move for a discreet romance based on his love for the acting skill of the make believe expert.
The move was reportedly executed on behalf of the money man by one of his most trusted aides.
The aide acts as fronts for his principal in issues that affects the image of the company and the owner.
The go between in the romance is also said to be in charge of doling out largesse to Nadia on discreet instruction from the money man.
Jewellery and cash gifts are listed as part of gifts given to the actress by the money via the third party.
Further investigations revealed that the move to make Nadia a part of the company was made original made to put more cover on the romance.
The idea is that based on that pretext both Ezenna and Nadia will have reasons to be spotted without raising eye brows an insider divulged.
And according to those who should know this arrangement appeared to be working for them.
OCEANIC BANK MANAGER IMPREGNATES WIFE’S ELDER SISTER
*How The Woman Lured Her Sister’s Wife Into Sex
One of the branch managers of a new generation bank is in hot soup and his house is in disarray as you read this. The reason is that he could not control his third legs which eventually has landed him in trouble
Information flittering around is to the effect that Obinna Ezinne, the said manager at Oceanic Bank is in hot romance with a middle age woman, who happens to be an elder sister to his wife.
Those who should know revealed that Obinna is the Branch Manager of the International Trade Fair Complex branch of the bank along Badagry expressway in Lagos.
Impeccable sources alleged that the secret romance between the duo started few months ago, and Obinna is said to be the financier of his in-laws. It was reliably gathered that the lifestyle of the manager and his generousity to his in-laws attracted his sister-in-law to him, and she was said to have lured him into the romance.
A source that proffered anonymity alleged that the woman started engaging in illicit sex with Obinna after they became chosen when the man’s wife was away for treatment when she fell ill after she became pregnant.
Obinna’s wife was said to have pleaded with her elder sister to go to her house and cook for her husband in her absence, and this reportedly gave room to the intimacy, which later led to serious romance, and the woman is now pregnant for her brother-in-law.
The source alleged that the bank manager once accompanied the woman to the naming ceremony of one of her friends around Fadeyi in Lagos.
According to sources, the duo openly showed affection to each other via text messages and they later stood up and drove away in the man’s Honda Element Jeep to an unknown place, where they went to have a nice time.
Those who should know alleged that when the wife was on admission in the hospital to deliver her only child few months back, the elder sister was also in the hospital for treatment on what she taught was a mere malaria until it was finally revealed to her that she was pregnant.
The young woman was also alleged to have benefited immensely form the hot romance as she now owns a boutique in Trade Fair complex and cruises around in an exotic car.
The secret was almost blown open at the christening of the manager’s baby when the mother of the wife asked the woman, who was responsible for her pregnancy when they all knew that she did not have a husband as she had her only child outside wedlock some years back.
It was alleged that some of the woman’s neighbours revealed the whole sexcapades that happened while she was away and she was advised to be interested in knowing the person who put her sister in the family way.
Sources revealed that her findings revealed that her hubby was the owner of the pregnancy, but that the man did not give any reply, when he was confronted with the allegation.
Those close to the family revealed that the woman has relocated to an unknown place due to threat to her life by her younger sister. The manager, our source said, has not been himself since the secret was exposed.

NMULTI MILLION SHARE SCANDAL ROCKS FIRST BANK
One of Nigeria’s leading financial institutions, First Bank Plc is alleged manipulated some of the shares sold to members of the public recently.
One of the aggrieved customers is Mrs Rhoda Abitogun, a former principal of St. Catherine Girls Grammar school, Ondo State. She said that she bought share units of 15,046 and that only 10,046 were credited to her, and that the deducted 5,000 unit amounted to N146, 982. Rhoda was said to have written to First Bank severally, but she was ignored and she has taken the case to Consumer Protection Council, the body that regulates matters involving stock and shares in the country.
Another victim is Mr. Femi Ajayi, a businessman in oil and gas industry. When the bank shares were made public, he was said to have bought shares units worth N3.5million and the bank only credited him with 60,184 shares instead of 105,322. The value of the deducted shares amounted to N1, 485,000. He was said to have filed a suit accusing the bank of manipulations.
At the Igbosere Magistrate’s Court, Lagos, where the case of Mr. Femi Ajayi was heard, First Bank was conspicuously absent, but other shareholders whose shares units had been allegedly manipulated unjustly by the bank were present, chanting abusive songs against the bank.

PASTOR ADEBOYE’S HAGGAI MFB IN N7BILLION FRAUD
The Pastor Enoch Adeboye-led Redeemed Christian Church of God-owned microfinance bank, Haggai MFB is allegedly involved in a fraud to the tune of N7billion. The debt was said to have been incurred over some construction works, which include the residential buildings in the church’s massive site situated along the Lagos-Ibadan expressway tagged; Redemption camp.
The fraud, sources maintained involved the Managing Director of Haggai MFB, Richard Olubameru, who also serves as a pastor in the church. Reliable sources revealed that the donations towards the construction of buildings and money realized from the sales of lands to members were divided into two and a part was carted away by the managing director.
Those who should know divulged that Richard was involved in the missing money that generated issue in the first quarter of the year 2010 in the bank, but this was later resolved by Pastor Adeboye. The money was said to be a donation from one Mr. Bayagbon Isreal for the construction of offices for pastors. The money is said to be about N120 million. It was revealed that the bank’s MD lied to the internal auditor of the bank, headed by Mr. Nicholas Ajakanu, that the donor had not fulfilled his pledge, whereas he had pocketed the money.
Impeccable sources that Nicholas, who is the head of audit department, was sacked by the MD last month when he reported the case to the Central Bank of Nigeria and Pastor Adeboye. The MD argued that the case should have been reported to Pastor Adeboye and not the apex bank.
Few weeks back, auditors from the CBN visited the bank and revealed that the bank had been defrauded to the tune of N7billion, and the bank was among the MFBs, which licenses were revoked.
Insiders who preferred anonymity, revealed that Pastor Adeboye has ordered the closure of the bank and summoned all the management staffers to an emergency meeting, but the managing director was conspicuously missing at the meeting. Olubameru’s whereabouts cannot be ascertained as at press time and he was said to have vacated his official residence to an unknown destination.

UBA LARGESSE TEARS PEACE FIBRESIMA AND CHARLES O’TUDOR APART
The cordial relationship that once exist between the organizer of the annual AMMA awards, Peace Fibresima and the Principal consultant of Adstrat, Charles O’tudor according to impeccable source, has gone sour with the largesse of the major sponsor of this year event, United Bank of Africa.
Those who should know divulged that the public relations outfit that handles the publicity of AMMA Awards, Adstrat had an agreement with Peace Firbresima to pay a specific amount before the commencement of the project as its bill as the publicist of the event. It was gathered that though Peace Fibresima agreed to pay the amount, she allegedly paid and had N3million to balance the agreed fees with the promise to balance as soon as UBA drops the last part of the sponsorship fees.
Impeccable source revealed that as soon as UBA dropped the last part of the sponsorship fees, Peace Fibresima allegedly refused to pay the balance to Adstrat for the job well-done on the publicity of the project which eventually caused issues within the public relations outfit and clients that were used on the project who are on the agency neck to pay them. Those privy to the fact alleged that Peace Fibresima refused to pay the N3million balance with the excuse that Adstat executed most of the media publicity on relationship basis with most media houses without paying a dime.
A source who preferred anonymity revealed that several phone calls from Adstat to remind its client, Fibresima of the outstanding debt of N3million were ignored. The source alleged that Fibresima initially denied the payment from of the balance from UBA, but the Principal Consultant of Adstat,. Charles O’tudor who has strong network in the advertising industry, maintained that UBA has paid, its only that his client is holding on to its part of the balance.
This development, according to reliable sources, has spoilt the once rosy relationship that existed between the two and that Charles O’tudor has waved the debt behind him as he is busy jostling for the public relations works of some multinational brands to manage, which worth billions of naira.
MISMANAGEMENT TALES TRAIL SILVERBIRD GALLERIA
The Mr. Ben Bruce-led Silverbird Galleria is being trailed by tales of mismanagement since Jonathan, a son of Ben took over the operation of the company.
An impeccable source disclosed that Jonathan, who is allegedly refer to as club rat, always resume to the office late and has no time to monitor the activities in the galleria and this has created opportunities for others to loot the investment of his father.
Those who should know revealed that most of the movies currently being shown in the galleria now are those that had been planned when his father was still in-charge of every operation. It was also alleged that staffers of the galleria are now being owed three months salary, which never happened when Ben was in charge.
A source who claimed anonymity said interior gadgets are now in sorry state as they are not been maintained. He sited example of the air-conditioning system in most halls that are now leaking, the damaged railings that have not been repaired among other things that wouldn’t have been neglected by Ben.
Jonahtan, who is said to be in his early twenties, was accused of spending heavily on clubs and has totally neglected the maintenance of the galleria.
ETISALAT MANAGER IN DEBT MESS
Etisalat, one of the latest entrants into the telecommunication industry in Nigeria, is in the news again. Latest information about the organization has it that its Head, Regional Sales, Lagos and South-West got involved in a debt mess during the company’s ongoing product activation and SIM registration in the south west zone.
Those who should know alleged that the manager, Olujimi Tella, secretly operates an activation agency which is registered with his wife’s name to collect activation jobs from Etisalat.
It was also gathered that during one of the company’s activations in Ibadan, Oyo State that involved a road show and direct sales, promoters who were employed by the coy’s operation officer, who is inexperience in experiential marketing, went away with products like SIM cards, branded souvenirs and two branded bus, making him to lose over a million naira.
According to a reliable source, Etisalat’s activation during the 2010 Osun-Oshogbo festival was a flop as promoters were not at the right locations that would have made them become visible to tourists. This, among other factors, affected the success of the activation at the event.
The development was alleged to have prompted Olujimi to order the manager of his privately-owned agency not to pay the promoters who worked during the festival.
One of the promoters, who worked as a supervisor on the activations, and who preferred anonymity, alleged that the money being owed promoters for hotels and transportation is close to N2million.
It was also gathered that Olujimi and the promoters lodged in the same hotel and their cars were impounded by the hotel management for inability to pay for services rendered. Our source added that the representative of the agency is at large and that no one is picking their calls to know when the money would be paid.
Efforts made to speak with Olujimi Tella proved abortive as he wasn’t picking his calls.
CRISIS IN INTERCONTINENTAL BANK OVER MISSING N47BILLION
After the change of baton from the embattled Mr. Eratus Akingbola to Lai Alabi as the Group Managing Director of Intercontinental Bank, many controversies have rocked the financial institution. The most recent of the crisis is the alleged missing money from the bank’s treasury, which amounted to N47billion.
An insider in the bank, who prefers anonymity, revealed that though Akingbola was accused of using N120billion of depositors’ money to buy personal shares in Intercontinental Bank, N47billion was added to it by the new GMD, Lai Alabi who now allegedly goes around saying Eratus spent N167billion lavishly.
Impeccable sources divulged that the extra N47billion has torn top management staffers apart. Some of the top management staffers, who are loyal to Akingbola were said to have being sponsored by him to unearth the real document that revealed that it was N120billion that was used in purchasing the shares. It was also gathered that loyalists of the Alabi, who are allegedly placed at sensitive departments of the financial house, have vowed to cover all the transactions that may implicate the mentor.
The missing fund, according to those who should know, has led to serious crisis, which may soon show some of Akingbola’s loyalist the way out of the bank.
Akingbola was alleged to have acquired 27 percent of the bank’s shares using depositors’ funds and inter-bank takings with his company, Tropics Finance that is jointly owned by him and his wife last year.