Connect with us

Business

NDLEA Probes Obi Cubana For Drug Dealings

Published

on

NDLEA Probes Obi Cubana For Drug Dealings

The National Drug Law Enforcement Agency (NDLEA) is currently investigating popular socialite, Obi Cubana, for his alleged dealings with drug dealers in Nigeria, Malaysia, and India.

The Chairman of the Cubana group of companies, according to sources, was questioned for about five hours at the Abuja headquarters of the NDLEA before he was granted bail and asked to return at a future date.

Obi Cubana was said to have made suspicious payments to the drug dealers.

Obi Cubana arrived at the NDLEA office around 9:00 am and responded to questions for some hours before he was granted bail at 2:00 pm. There are suspicions that he may be a drug kingpin. Some convicted drug dealers paid funds into his account.

We have been able to establish three of such payments. One of the persons that paid money into his account was convicted in Kuala Lumpur, Malaysia; another one that was convicted in New Delhi, India; also paid money into his account while a third person was arrested at the Murtala Muhammed International Airport, Lagos, and convicted in 2017, also paid money into Cubana’s account,” a source was quoted as saying.

Obi Cubana who has been in the nightclub business since 2006, grabbed international headlines last July when he organised a lavish funeral for his mother, Ezinne Iyiegbu, in Oba, Idemili South local government area of Anambra State.

The event attracted several entertainers and renowned politicians from across the country including embattled Nigerian super cop, Abba Kyari. Other entertainers that graced the event include- Davido, D’banj, Kcee, Poco Lee, and Ubi Franklin.

The guest list also had Nollywood stars and early callers like Kanayo O. Kanayo, Alex Ekubo, and Williams Uchemba.

But the highlight of the event was the ostentatious display of wealth as evidenced by the donation of about 400 cows to Cubana as well as the ‘naira rain’.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Illegal Oil Refinery Operators Arrested In Lagos

Published

on

Illegal Oil Refinery Operators Arrested In Lagos

No less than five illegal oil refinery operators in Oregun, Ikeja area of Lagos State, have been arrested.

The arrest was as men of the Nigerian Army uncovered an illegal oil bunkering depot, where siphoned crude oil was refined and transported to different filling stations within the Southwest region of the country.

During a raid on the refinery site, amongst other things, soldiers recovered refined crude oil valued at N300 million.

Briefing journalists on the arrest, the Operation Officer, 9 Brigade of the Nigerian Army, Ikeja Cantonment, Major Tarela Emuren said the arrest and recovery were made by troops of Operation AWATSE.

According to Emuren, the soldiers arrested the illegal oil refinery operators on Wednesday, January 12, 2022, after an eight-hour raid operation at the Oregun illegal refinery site.

His words: “The scale of economic sabotages orchestrated by this unscrupulous act is estimated to be worth about N300 million. Regrettably, these activities have been ongoing for quite some time without the knowledge of relevant government agencies.

The five Ford vans have been specially modified, without due recourse to safety, to accommodate locally fabricated tanks for storage of stolen petroleum products. Additionally, four tankers were also recovered at the illegal depot laden with suspected stolen products as well as several drums, hoses, and other equipment used by these economic saboteurs.

Besides the economic loss occasioned by the activities of these criminals, the safety concern is also worrisome. The location constitutes serious dangers to other law-abiding residents within the community while their activities result in environmental degradation, pollution and heighten the risk of fire outbreak. Also, the crude modification of vehicles used in conveying these highly inflammable products constitutes even greater dangers to other unsuspecting road users in Lagos and other places the products may be transported to.

The Army operation officer, therefore, warned illegal oil refiners in the state to desist forthwith, saying that Op AWATSE would not rest on its oars till they were brought to book.

Continue Reading

Business

Things To Look Out For When Buying Used Cars In Nigeria

Published

on

Things To Look Out For When Buying Used Cars In Nigeria
Image used for illustrative purpose

A large percentage of people would rather settle for used cars compared to brand new ones. For many reasons, which include prices, this has been the situation for most people in the country. According to Suomobroto Ganguly, the Chief Executive Officer (CEO) of Cars45, used cars in Nigeria constitute 95% of the country’s auto market.

With this, Newsrand understands that nine out of 10 Nigerians are driving used cars; it is in this light that this publication presents below the basic things to look out for before considering an automobile purchase…

Review your budget: This is a very vital part to consider when buying a fairly used car. It is important for you to define a budget and stick with it. Sometimes after paying for the car, additional expenses might arise. For example, you might need to rewrap the interior or change the tyre as well as do some mechanical/electrical maintenance, all these will mean extra spending. You should decide how much you are willing to spend on the car.

Compare prices: Having an idea of what the price of your car choice should be will help your bargaining process. To do this, you can search the internet for your automobile choice, which would enable you to see the prices. It is advisable you do this before initiating a meeting with your car dealer.

Define your car taste and choice: Clearly knowing what you want is an advantage that will help you make smart decisions, and the interesting part of this is that it will make your buying process seamless. In Nigeria, people use more Toyota, Lexus, and Honda for reasons best known to them. So, it is safer to have more than one proposed car brand.

Confirm the mileage: What this means is the total distance a car has travelled since it was manufactured. When buying used cars in Nigeria, the mileage may be a dealbreaker because experts are of the opinion that the average annual mileage of every automobile product should be 12,000.

The mileage is how you will get to know how long the car has been used, how long it has run, which can influence how much it should be sold for.

Be sure of the spare parts’ availability: This is one of the most integral processes of buying used cars in Nigeria. Sometimes, an automobile product might thick all the aforementioned boxes, but when the spare parts are not readily-available, we are sure you don’t even want to be near such a car. So, it is strongly advisable you take out time to research the used cars in Nigeria that you are considering as their spare parts readily available for purchase in the markets. This is because all cars are prone to have issues that should be fixed at one point or the other.

Have a pre-purchase inspection: You need to engage a mechanic and other professionals in the automobile industry, like rewire, to check the functionality of your car choice. Inspecting the car will uncover what is not working well, or not working at all in the car.

It is in the course of this process that you will confirm the engine’s strength, amongst other things.

Continue Reading

Business

PAPSS: Dangote Charges African Leaders On Improved Trade

Published

on

PAPSS: Dangote Charges African Leaders On Improved Trade

Business tycoon, Aliko Dangote has charged African leaders at the Pan-African Payment and Settlement System (PAPSS) on improved trade relations within the continent.

Disclosing this at the PAPSS formal launching, stated that the trade will help promote African intrinsic greatness.

The Pan-African Payment and Settlement System is a centralized payment and settlement infrastructure platform for intra-African trade and commerce payments.

READ ALSO: APC Governors Want National Convention To Hold In February

The continent’s richest man urged Africans to close ranks to propel the continent towards charting her own course, becoming the master of her destiny, and maintaining her rightful position on the globe.

Dangote, who was represented by Group Managing Director of Dangote Industries Limited (DIL), Olakunle Alake, lauded the African Union, under the auspices of Afreximbank, for the launch of PAPSS, which he noted was aimed at facilitating payments across the continent.

He asserted that improved trade relations would greatly enhance the speed of recovery across Africa, noting that it has the potential to boost the level of economic activities through intra-Africa trade. He also remarked that the advent of PAPSS would greatly address challenges such as; high-cost, lengthy correspondent banking relationships, delays, among many others, and therefore ease transactions among businesses across Africa.

He equally expressed optimism that PAPSS would enhance the volume of trade among countries, which were hitherto not recorded or were overlooked because of the informal approach towards these transactions. According to him, these were now captured to reflect the corrector, at least, close to the appropriate position of trading activities within the continent, while also boosting the level of economic activities across the continent.

Dangote noted the enormous potential and benefits of PAPSS but nevertheless warned that such projects have teething issues. He, therefore, urged regulators and participants across the continent to look beyond such operational challenges and ensure the successful implementation of PAPSS.

While thanking member countries and organizations that contributed to the success of PAPSS by playing key roles leading to the launch of the project, he invoked the words of Ghana’s first President and Prime Minister, and renown promoter of Pan Africanism, Kwame Nkrumah, stressing: “The forces that unite us are intrinsic and greater…”

Continue Reading

Trending