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Ponzi Investors Storm Oko Oloyun’s Office, Demand For Invested Funds

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Tens of Lagosians stormed the LASU Road office of late Alhaji Fatai Yusuf, popularly known as Oko Oloyun, to demand the money they invested in his Ponzi scheme.

Oko Oloyun, a popular Lagos-based trado-medical expert, was murdered on Thursday around 4:30pm on the road while travelling to Iseyin, Oyo State. He was reportedly attacked by some hoodlums at Igboora.

Following his demise, people who invested money in his Ponzi scheme, known as “Option C” stormed the Head office of his company to demand how to retrieve their money.

The investors were the more confused as his two offices at Egba Idowu along Igando road in Lagos were shut with no one to provide information.

The investors, however, vowed to take drastic measures if a statement was not issued by the organization as soon as possible.

Just like the day MMM folded up, the investors in “Option C” programme narrated how much they had invested and insisted they could not afford to lose their hard-earned money.

An investor, who chose to be called Emmanuel explained that Option C is a money-making programme that promised a 10% return in two months.

Emmanuel, who was trembling while speaking, added that he invested in the scheme in July 2019 and had only received returns once, contrary to the agreement of two months which was stated.

Mrs Bunmi (first name withheld), a retired teacher, who was clearly in shock, stated that she had invested millions having joined the programme in December 2018. She said she had only received N500,000 from her investment and that she was not sure of her fate with the death of Oko Oloyun.

Clutching her investment documents, she said that she filed to pull out after inconsistency in payment but rescinded her decision when she was told that she could not get her investment back in full.

Mr Azeez, another investor, said he invested N1 million in September 2019 and had decided to pull out after he was not paid in November. He, however, vowed to pursue his profit with all his ability.

Mrs Bisola (second name withheld) said she invested the money sent to her by her military husband who is fighting insurgents in North East. She said she could not afford to lose the money. She urged the management to speak up and address the investment programme issue quickly.

Mrs. Sulaimon, an investor, said she aborted her trip to travel down from Badagry to Igando when she heard about the assassination of Oko Oloyun.

She noted with tears that she had invested a lot and could not afford to lose her investment. She was however optimistic that the returns would be paid after meeting her co-investors who cheered her up.

However, in the midst of the lamentation, some investors who had visited the house of the late Oko Oloyun in Lagos alleged that they were denied access by the security men, with the statement that “Alhaja said we should not allow anybody to come in, they are all in Ibadan.”

After the outcry, the investors agreed among themselves to visit the house of the deceased in Lagos during the Fidau prayers on the eighth day to demand their returns.

However, a security man at Oko Oloyun’s Egan Idowu office alleged that one of the rooms in the head office was intentionally burnt by unknown men prior to Oko Oloyun’s death.

He said the workers who were on duty had been arrested.

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President Trump Signs Executive Order To End Birthright Citizenship

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United States President, Donald Trump, has signed an executive order attempting to end birthright citizenship — a right guaranteed by the US Constitution and affirmed by the Supreme Court more than 125 years ago.

On Monday, Trump issued a blitz of executive actions to start reshaping federal immigration and border policy, many of which are expected to face significant legal challenges.

“As commander in chief, I have no higher responsibility than to defend our country from threats and invasions, and that is what I’m going to do,” Trump said in his inaugural address.

CBS News reports that the US government has long interpreted the US Constitution to mean that those born on American soil are citizens at birth, regardless of their parents’ immigration status.

The 14th Amendment to the Constitution says, “All persons born or naturalised in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside.”

But Trump directed federal agencies to stop issuing passports, citizenship certificates, and other documents to children born in the US to mothers who are in the country illegally and fathers who are not citizens or legal permanent residents, or to mothers who are temporary visa holders (and fathers who are not citizens or legal permanent residents).

Trump said his edict, which would not apply retroactively, should be enforced in 30 days. But just hours after it was issued, the American Civil Liberties Union and other advocacy groups filed a lawsuit challenging the action in federal court.

He also cited extraordinary presidential powers to effectively suspend US asylum law, accusing migrants of staging an “invasion” at the southern border and endangering public health.

He authorised officials to “repel, repatriate, or remove” migrants, suspending their “physical entry” into the US through his constitutional powers. The far-reaching order essentially allows the U.S. government to stop adhering to American asylum law until Mr. Trump issues a “finding that the invasion at the southern border has ceased.”

 

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You’ll Soon Learn Your Lessons – Prof Akinyemi Tells Kemi Badenoch

How the daughter of a professor of UNILAG, her father who was a medical doctor, a girl who went to the international school at UNILAG would make it sound like she was selling groundnut and selling water in Lagos to advance her political career.

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Former Nigerian Minister of External Affairs, Prof Bolaji Akinyemi, says Britain’s Conservative party and Nigeria-raised Kemi Badenoch will soon learn her lessons that “you don’t throw your people and your culture under the bus”.

Prof Akinyemi, a former Director General of the Nigerian Institute of International Affairs (NIIA), said Badenoch was making a mistake denigrating Nigeria on the global stage to “advance her political career”.

The foremost Professor of Political Science, who was a guest on Channels Television’s Politics Today programme on Monday, said the UK Conservative party leader should leave Nigeria alone and focus on strengthening her party in Britain.

The octogenarian said, “How the daughter of a professor of UNILAG, her father who was a medical doctor, a girl who went to the international school at UNILAG would make it sound like she was selling groundnut and selling water in Lagos to advance her political career.

“She would soon learn that you don’t throw your people and your culture under the bus to advance your career. She is making a mistake but she would soon learn.

“After all, right now, there is even Right Wing political party in the United Kingdom that is even to the right of the Conservative Party. So, what she should be focusing on is how to regain that rightwing profile of the Conservative Party and leave Nigeria alone.”

Days earlier, presidential spokesman Daniel Bwala said Badenoch’s scathing comments about Nigeria are targeted at gaining acceptance from her party members.

In December 2024, Nigeria’s Vice President Kashim Shettima criticised Badenoch for disparaging Nigeria, saying that she is entitled to her own opinions and has every right to remove the Kemi from her name.

In 2022, Badenoch, a UK member of parliament of Nigerian descent and then UK Prime Minister hopeful, accused Nigerian politicians of using public funds for their private matters.

After her election as UK Conservative Party leader in November 2024, the Chairman of the Nigerians in Diaspora Commission (NIDCOM), Abike Dabiri-Erewa, said her office reached out to Badenoch but received no response.

 

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NATCOMS To Challenge NCC’s 50% Telecom Tariff Hike In Court

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The National Association of Telecommunications Subscribers (NATCOMS) has announced plans to contest the Federal Government’s approval of a 50% tariff hike for telecom operators in court.

This decision, according to NATCOMS, was made without adequate consultation with key stakeholders, including subscribers.

Mr. Deolu Ogunbanjo, President of NATCOMS, expressed dissatisfaction with the tariff increase approved by the Nigerian Communications Commission (NCC) in an interview with NAN.

He described the decision as burdensome, particularly for small businesses and individual subscribers.

“This will affect everyone from the biggest industry to the smallest company, such as the Point of Service (POS) operators. It will increase operational costs,” Ogunbanjo stated.

He acknowledged the financial challenges facing the telecommunications sector but emphasized that a marginal increase of 5% to 10% would have been more acceptable.

“We painfully agreed that, look, a moderate or marginal five per cent to 10% increase will be fine. We do not mind an increase if it is to salvage the industry that is helping us, that means so much to us and that is also contributing double-digit to Nigeria’s Gross Domestic Product,” he added.

Alternative funding options

Ogunbanjo suggested that telecom operators explore alternative funding sources, such as Initial Public Offerings (IPO), to raise capital instead of imposing a 50% tariff increase on subscribers.

“The industry operators can opt for an Initial Public Offer (IPO) for Nigerians to buy shares in their companies as a way of raising funds.

However, a situation where a whole 50% is granted for tariff hike is not cheap and it is a no! no! from us subscribers,” he insisted.

Ogunbanjo confirmed that NATCOMS would challenge the decision in court, citing the financial strain the hike would impose on subscribers already grappling with economic challenges.

NCC defends the tariff adjustment

The Nigerian Communications Commission (NCC), in a statement signed by its Director of Public Affairs, Dr. Reuben Muoka, justified the 50% tariff adjustment as a necessary measure to address rising operational costs in the industry.

“The NCC has prioritised striking a balance between protecting telecoms consumers and ensuring the sustainability of the industry, including the thousands of indigenous vendors and suppliers who form a critical part of the telecommunications ecosystem,” the statement read.

The commission noted that while some operators had requested a 100% tariff increase, it approved a maximum adjustment of 50% after extensive consultations with stakeholders.

“The NCC recognises the financial pressures faced by Nigerian households and businesses and remains deeply empathetic to the impact of tariff adjustments. To this end, the commission has mandated that operators implement these adjustments transparently and in a manner that is fair to consumers,” the NCC stated.

Benefits of the adjustment

The NCC assured subscribers that the tariff increase would enable operators to invest in infrastructure and innovation, leading to improved service quality.

“These adjustments will support the ability of operators to continue investing in infrastructure and innovation, ultimately benefiting consumers through improved services and connectivity,” the commission added.

 

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