Business
EFCC Arraigns Forex Broker for Alleged N2 Billion Investment Scam in Uyo
Published
6 months agoon
By
Ekwutos Blog
The Enugu Zonal Directorate of the Economic and Financial Crimes Commission, EFCC on Friday, July 19, 2024 arraigned one Rufus John Isip, a self-acclaimed forex broker before Justice C. S. Onah of the Federal High Court sitting in Uyo, Akwa Ibom State.
Isip was arraigned alongside his company, ITM-IT Resources Limited on an eight-count charge bordering on fraudulent conversion, money laundering and obtaining by false pretence to the tune of N2, 022, 081, 172 (Two Billion, Twenty-two Million, Eighty-one Thousand, One Hundred and Seventy-two Naira).
Count one of the charge reads: “That you, Rufus John Isip while being the Director of ITM-IT Resources Limited and ITM-IT Resources Limited sometime in December 2020 and May 2021 in Uyo, Akwa Ibom State, within the jurisdiction of the Federal High Court of Nigeria, with intent to defraud, obtained the sum of (431, 331, 172. 00) Four Hundred and Thirty-one Million, Three Hundred and Thirty-one Thousand, One Hundred and Seventy-two kobo from one Michael Okon, the Director of N-Rex Resources Limited under the false pretence that it is an investment in Vandera, an online investment platform, on his behalf, which pretence you knew to be false and thereby committed an offence contrary to Section 1 (1) (a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1 (3) of the same Act”.
Count eight of the charge reads: “That you, Rufus John Isip while being the Director of ITM-IT Resources Limited and ITM-IT Resources Limited sometime between December 2020 and May 2021 in Uyo, Akwa Ibom State, within the jurisdiction of the Federal High Court of Nigeria, converted the total sum of (N730, 870, 000. 00) Seven Hundred and Thirty Million, Eight Hundred and Seventy Thousand Naira to crypto currency (Bitcoin) and transferred same into your Binance Wallet knowing that the said money formed part of your unlawful act and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prevention and Prohibition) Act, 2011 and punishable under Section 15 (3) (4) of the same Act”.
He pleaded not guilty when the charges were read to him.
In view of his plea, Khamis Mahmud, counsel to the EFCC prayed the court to remand him in EFCC custody on the grounds that “we are still investigating him on other cases”.
The defence counsel, Samson Ewuje however, did not pose any objection.
Justice Onah adjourned the matter to October 14, 2024 for trial and the defendant was remanded at the Uyo Zonal Directorate of the EFCC.
Isip was arrested based on a petition from one Michael George, alleging that he lured him to invest in his online trading platform called Vandora.io. According to the petitioner, the defendant told him that it was more profitable to trade on his platform with a minimum trading capital of $100, 000. 00 (One Hundred Thousand Dollars) and that he would earn more profit if he involved more investors.
The petitioner thereafter invested, reached out to other investors and companies who also invested in the defendant’s phony online trading platform and after 60 days (as agreed) for the investors to start earning their profits, the defendant disappeared into thin air.
Visit www.efcc.gov.ng for more stories
You may like
POWA HONOURS HON DR SAMUEL UDEH WITH AN AWARD OF RECOGNITION; hands over to police, huge sum of cash forgotten by a passenger in a bus
Nathaniel Bassey Brings Soul-Stirring Worship to Trump’s Inaugural Prayer Breakfast
Putin Hails Trump On Inauguration As US President For Second Time, Says Russia Willing To End War
Court remands suspect over alleged assassination attempt on Lokpobiri
“Akpi Is Back”: Speed Darlington Finally Regains Freedom After 2-Months in Jail, Fans React Nosa Oke-Hortons
42 Executive Orders By Trump On the First Day
Business
Breaking News: Nigerian Youngest Billionaire, B-Lord, Pioneers Electric Taxi Revolution in Nigeria
Published
22 hours agoon
January 21, 2025By
Ekwutos Blog
In a groundbreaking move for Nigeria’s transport and energy sectors, Nigeria’s youngest billionaire and business mogul, B-Lord, has launched an electric car taxi service, marking a significant step toward sustainable mobility in the country. The initiative is set to commence operations in Anambra State.
In an exclusive statement, B-Lord disclosed that over five containers filled with fully electric city cars are currently en route to Nigeria from China. The vehicles are expected to revolutionize public transport by providing an eco-friendly, cost-efficient, and modern alternative for commuters.
To support this venture, several charging station terminals are already under construction across Anambra State. These charging hubs aim to ensure a seamless experience for the upcoming fleet of electric vehicles, setting the foundation for a robust, sustainable infrastructure.
“This initiative is not just about transportation; it’s about boosting economic growth, creating jobs, and setting Nigeria on the global map of innovation and sustainability,” said B-Lord.
The electric taxi project is poised to enhance the state’s economy by generating employment, reducing carbon emissions, and modernizing the transportation sector. Experts believe this move will ripple across other states, driving further investment in green technology in Nigeria.
As Nigeria takes its first steps into the electric vehicle era, B-Lord’s vision is a testament to the power of entrepreneurship and innovation in shaping a better future for the nation.
Stay tuned for more updates as this transformative project unfolds!
Business
World Pizza Day: How an Italian food favourite conquered the world
Published
4 days agoon
January 18, 2025By
Ekwutos Blog17 January marks World Pizza Day, a celebration of a dish with more than 2,000 years of history. From Neapolitan and Roman styles to Margherita, diavola, and even potato-topped variations, there are few places left in the world which don’t honour this iconic culinary tradition.
In 2017, UNESCO recognised “the art of Neapolitan pizza makers” as an Intangible Cultural Heritage of Humanity, highlighting its cultural significance on a global scale.
As for the date, it wasn’t chosen randomly: 17 January coincides with the feast of St. Anthony Abbot, the patron saint of fire and related trades, including machinists, blacksmiths, and, fittingly, pizza makers.
Where is pizza eaten the most in the world? And in Europe?
In Italy, four out of ten families are expected to prepare pizza at home in 2025, according to data from Coldiretti-Ixé. Meanwhile, global pizza turnover in 2024 is projected to reach a record €160 billion, with Italy contributing €15 billion to this figure.
Pizza is a major economic driver in Italy, generating 100,000 jobs nationwide – a number that doubles to 200,000 on weekends. Each year, Italy produces 2.7 billion pizzas, equating to about 46 pizzas per person annually, a figure that includes all age groups, from infants to the elderly.
Italians’ preferences differ significantly from those of the global market. According to Coldiretti, Italians prioritize higher-quality ingredients and are willing to pay a premium for them.
Interestingly, while pizza is an Italian staple, the world’s largest per capita consumers are Americans, who eat an average of 13 kilograms of pizza per year.
In Europe, on the other hand, Italy is in first place with 7.8 kilos per year, followed by Spain’s 4.3kg, and France and Germany’s 4.2kg and in fifth position the United Kingdom with 4kg.
The rise of food delivery has significantly boosted this already thriving sector: some apps speak of ‘an order every two seconds’. Others point to year-on-year growth in turnover of 20 per cent between 2024 and 2025.
The most and least popular pizzas in the world
According to data from the food web portal TasteAtlas, the Margherita reigns as the most popular pizza in the world, followed by the Montanara and calzones. In sixth place is American-style pizza topped with cheese, vegetables, and tomato sauce. Following that is pepperoni pizza (where ‘pepperoni’ in the US refers to a type of salami) and the iconic ‘New York-style’ pizza, before circling back to fried pizza.
In last place is an Italian pizza: the ‘Mimosa pizza,’ topped with corn and cooked ham. Just above it are the Cuban pizza, the Scottish fried pizza, the Quad City-style pizza (a grilled variation popular in the US), and Canada’s unique pizza-ghetti, which features spaghetti as an additional topping.
How much does pizza cost in Italy?
Pizza has always been a popular dish in the Bel Paese, and this has never changed. On the other hand, inflation and the push for higher quality ingredients have increased the price in Italy and across Europe.
A survey by Altroconsumo calculated the average cost of a pizza, a soft drink, and service in various Italian cities. Sassari tops the list as the most expensive city (€14.67), followed by Bolzano, Milan, and Venice. On the more affordable end are Livorno (€8.67), Pescara (€9.18), Naples (€9.63), and Bari (€9.63).
Whatever pizza you love, with or without pineapple, happy World Pizza day.
Petrol prices across Nigeria have increased to between N1,050 and N1,150 per litre.
This increase follows a price adjustment by Dangote Refinery, which raised its rates from N899 to N955 per litre for bulk purchases.
Private depots nationwide have also raised their prices, with some locations now charging over N1,000 per litre for Premium Motor Spirit (PMS).
Oil marketers explained that the hike is primarily due to rising crude oil prices, which recently climbed to $81.84 per barrel, the highest in 2025.
Deregulation of the petroleum sector and logistics costs have further contributed to the price surge.
Areas far from depots, such as the hinterlands, are experiencing the steepest prices, with some regions reporting costs of up to N1,150 per litre.
Private depots in Lagos and Calabar have also adjusted their loading costs.
For instance, Sahara and Pinnacle depots raised prices to N970 per litre, while Rainoil and Alkanes in Calabar now charge N1,000 per litre.
Retail stations are adding logistics and regulatory charges to their prices, pushing the pump rates higher for consumers.
Marketers predict that prices will continue to rise due to the global increase in crude oil costs.
With deregulation in place, the industry relies on demand and supply dynamics, making fluctuations inevitable.
Experts warn that this trend will significantly impact consumers and businesses across the country.
POWA HONOURS HON DR SAMUEL UDEH WITH AN AWARD OF RECOGNITION; hands over to police, huge sum of cash forgotten by a passenger in a bus
Nathaniel Bassey Brings Soul-Stirring Worship to Trump’s Inaugural Prayer Breakfast
Putin Hails Trump On Inauguration As US President For Second Time, Says Russia Willing To End War
Trending
- Politics11 months ago
Nigerian Senate passes Bill seeking the establishment of the South East Development Commission.
- Business11 months ago
Inflation hits record high of 29.90% on naira weakness
- Politics8 months ago
BREAKING: Federal Gov’t Offers To Pay Above N60,000, Reaches Agreement With Labour
- SportsNews11 months ago
Olympic Qualifiers 2024: CAF Confirms Dates For Super Falcons Vs Banyana Banyana
- Trending3 months ago
NYA demands release of ‘abducted’ Imo chairman, preaches good governance
- Business3 months ago
US court acquits Air Peace boss, slams Mayfield $4000 fine
- Politics11 months ago
Governor Hope Uzodinma’s New Cabinet In Imo: The Gainers, The Losers
- Politics3 months ago
Mexico’s new president causes concern just weeks before the US elections