Business

[FOREIGN SCENE] President Trump Threatens To Pull Out Of WTO

US – President Donald Trump threatened Tuesday to pull the United States out of the World Trade Organization if conditions are not improved. “We will leave if we have to,” Trump told a cheering audience of workers at a Shell chemical plant in Pennsylvania. “We know that they have been screwing us for years and it’s not going to happen again,” he said. Trump has made the WTO the target of many previous attacks, and threatened before to withdraw, claiming unfair treatment toward the US and saying Washington does not have to abide by WTO rulings. He is especially critical about the terms granted to China when it joined the [Read]

Nigerians spend N730bn on sports betting annually

Nigerians spend over 730 billion Naira annually on sports betting and at least two billion naira is generated daily, recent research data shows. Data also revealed that over 60 million Nigerian punters spend over 3, 000 naira daily placing bet stakes. At least there are 50 betting sites in Nigeria with the number growing annually. Respondents, who spoke with the News Agency of Nigeria (NAN) on Sunday, said they placed bets to generate quick and easy income, and turn their passion for football into cash. 28-year-old Fashion designer, Segun Mukoro who bets at least once weekly said that it was the fastest way to double his income and although he [Read]

[BREAKING] $16bn Power Projects: EFCC Begins Probe Of Obasanjo, Yar’Adua, Jonathan Govts

In a fresh move to unmask the actors in the controversial $16billion power projects of the federal government, the Economic and Financial Crimes Commission (EFCC) has begun the investigation of the administrations of former President Olusegun Obasanjo, his immediate successor, the late Umaru Musa Yar’Adua, and former President Goodluck Jonathan. NEWS FLAKES NG gathers that the three leaders and some of their officials are being probed over the role they played in the disbursement of the $16 billion on the power sector between 2006 and 2011 to various contractors. [READ ALSO] Alleged N9.9bn Graft: Ambode Knocks EFCC, Sends Strong Message to Buhari, Tinubu The probe of the “investment” in the electricity [Read]

EFCC Nabs, Detains Atiku’s Son in-law, Another Director

Son-in-law to Atiku Abubakar and Finance Director of Atiku’s Group of Companies, Abdulahi Babalele has been arrested by the Economic and Financial Crimes Commission (EFCC). The charges to be brought against Babalele are not known at the time of this report, however, sources at the EFCC have confirmed that the order for his arrest is “from above” and that Babalele is to be “detained indefinitely.” The family of Atiku have described the development as “hostage taking at the highest level.” Atiku is challenging the declaration of President Mohammadu Buhari as the winner of the 2019 general elections at the presidential election tribunal. The presidential election tribunal adjourned in controversial circumstances [Read]

JUST IN: EFCC Freezes N9.9bn Bank Accounts Linked To Ex-Gov Ambode

The Economic and Financial Crimes Commission says it has frozen three bank accounts containing a total of N9.9bn linked to the immediate past Governor of Lagos State, Akinwunmi Ambode. The PUNCH had exclusively reported in June that loyalists of the ruling All Progressives Congress leader, Bola Tinubu, had decided to drag Ambode to the EFCC for investigation. The EFCC, in a Press statement by its spokesman, Tony Orilade, titled, ‘EFCC Secures Freezing Order on Accounts Linked to Ex-Gov. Ambode over Alleged N9.9bn Fraud’, said Justice Chuka Obiozor of the Federal High Court sitting in Ikoyi, Lagos, on Tuesday ordered the freezing of the sum of N9.9bn belonging to the Lagos State [Read]

Senate threatens to Shutdown, Sanction Bet9ja [READ MORE]

Senate has on Tuesday, threatened to Shutdown popular betting venture, Bet9Ja offices if the company fails to honour its invitation for a second time.  While speaking on Tuesday, in Abuja, during the verification of Lotto companies with license to operate in Nigeria, Chairman, Senate committee on youth and sport, Senator Obinna Ogba, PDP, Ebonyi, who noted that it was unfortunate that Bet9a refused to honour their invitation, said, “Clerk, write to Bet9ja again. If they did not honour your our invitation again, we will ask the National Lottery Commission to seal their offices.” Senator Ogba who noted that the Senate was making efforts to assist the lottery commission to generate [Read]

Ondo Govt Set To Grow Marijuana For Business, Says Gov Akeredolu

Ondo state governor, Mr. Rotimi Akeredolu has said the state is set to diversify its economy by tapping into the marijuana market. In a tweet on Monday, Akeredolu explained that with an estimated value of $145 billion in 2025, the state would be shortchanging itself if it ignores the marijuana business. “We all know that Ondo State is the hot bed of cannabis cultivation in Nigeria,” he wrote. “We know how to grow it and it thrives well in the Sunshine State. With an estimated value of $145 Billion in 2025, we would be shortchanging ourselves if we failed tap into the Legal Marijuana Market. “Our focus now is Medical [Read]

DAILY FRONTPAGE HEADLINES: Check out What The Papers Are Saying Today August 14, 2018

NEWS FLAKES NG brings to us Daily Nigerian Frontpage Headlines from leading dailies across the country in what we term – “WHAT THE PAPERS ARE SAYING TODAY….” Daily Times, Punch, Daily Independent, Daily Trust, The Guardian, Daily Sun,  The Point, Vanguard, Leadership, The Nation, Business Day, Nigerian Tribune and many Others every day of the week. Oncemore, Let’s enjoy today’s episode Tuesday August 14, 2018 as displayed below: . CHECK THROUGH FOR MORE PAPERS AND READ MORE DAILY ON www.newsflakes.com.ng [Read]

BUSINESS: Africa’s Billionaires List, 2018 – Check Out The Two Newcomers Join The illustrious List Here >>>

Richest men in Africa: Not fewer than two fresh billionaires have joined the illustrious list and overall wealth of Africa’s billionaires swells to $75.4 billion from $70 billion last year. 2017 was a good year for business in the continent. After a full year’s work, Africa’s richest are even richer and clearly more driven. Two new entrants join the illustrious list and overall wealth of Africa’s billionaires swells to $75.4 billion from $70 billion last year. These ladies and gentlemen are working overtime! Forbes says the better fortunes are attributable to rising stock and commodity prices. 2017 was clearly a good year for business. There are very few surprises in [Read]

BUSINESS: Bill Gates picks holes in FG’s Economic Plan …urges more Investment in Education, Health READ MORE HERE >>>

NEWS FLAKES NG gathers that the Co -Chair of the Bill and Melinda Gates Foundation , Mr . Bill Gates, on Thursday said the Federal Government ’s Economic Recovery and Growth Plan was not reflective of the people ’s needs . He also said the country would do better with strong investments in health and education , rather than concentrating on physical infrastructure to the detriment of human capital development . Gates spoke alongside the Chairman of the Dangote Foundation, Alhaji Aliko Dangote, at a special session of the National Economic Council held at the old Banquet Hall of the Presidential Villa , Abuja . The theme of the event [Read]