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Hushpuppi To Be Extradited To Nigeria …as INTERPOL confirms arrest of suspected international fraudster

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Plans are underway by the International Police (INTERPOL) Nigeria to extradite Instagram celebrity Raymond Igbalodely a.k.a. Hushpuppi from the United Arab Emirates (UAE) to Nigeria to face alleged multiple fraud charges, The Nation learnt on Friday.

The INTERPOL is also on the trail of other accomplices in the alleged fraud who are resident in Nigeria to bring them to justice.

Commissioner of Police (CP) INTERPOL, Garba Umar disclosed these to The Nation yesterday while confirming the arrest of Igbalodely whose real name is said to be Ramoni Igbalode.

He said: “It is true that Hushpuppi was arrested by the INTERPOL. We are currently working on bringing him to Nigeria to face charges of fraud.

“Some of the offences were committed here in Nigeria and he has to answer for them. He is not alone in it; there are accomplices in the country who we are currently on their trail,” said the CP.

Hushpuppi, known for his reckless display of wealth on social media, was arrested three days ago for allegedly hacking into the United States (US) unemployed database and impersonating citizens qualified for unemployment funds.

He and his accomplices in Nigeria, Dubai and other countries allegedly defrauded the US of over $100 million meant for Native Americans in the battle against the coronavirus pandemic.

The Nation reports that his arrest came three days after he posted a picture of his newly acquired 2020 Rolls Royce Cullinan worth about N280 million, the latest addition to his fleet of exotic vehicles.

It was alleged that Hushpuppi was arrested alongside two of his friends after weeks of investigation by the US Secret Service, following the alarm raised in May about a crime ring of suspected Nigerians who broke into the personal information of citizens and used factitious unemployment claims to steal hundreds of millions of dollars reserved to help jobless American people.

The syndicate was alleged to have filed in so many names of Americans who were still working to various state unemployment offices and collected money from the system.

They were alleged to have used information stolen from first responders, government personnel and school employees.

The escapades of a suspected fraudster
Ramoni Igbalode may not ring a bell. But the mention of Hushpuppi alerts many about the Nigerian born Instagram celebrity who lives in Dubai, the United Arab Emirates. Hushpuppi is virtually synonymous with glamour.

Until Wednesday, June 10, when he was reportedly arrested, he had kept entertaining his 2.3 million followers on Instagram with his luxurious lifestyle. His name echoes glamour and panache as he junkets the globe on private jets, flaunting high-end clothing, watches, and shoes on the social media.

Known for his weakness for luxury and high-end brands like Gucci, Balenciaga, Rolls Royce and Versace, Hushpuppi is a regular face at Dubai’s premier luxury department, Harvey Nichols.

Although he claims to be a real estate developer, according to his bio on Instagram, his high taste for expensive lifestyle has not only endeared him to his 2.3 million followers on Instagram but also celebrities and dignitaries from different walks of life.

From music stars to footballers and Nigerian lawmakers, Hushpuppi’s name resonates across the globe – with roots in Nigeria and Dubai.

Partying with Dino Melaye, Dogara, others
On January 7, 2020, ex-Senator Dino Melaye turned 46 and decided to throw a lavish party for the occasion in Dubai. The guest list had the names of ex-Speaker of the House of Representative, Yakubu Dogara, and former APC spokesman, Timi Frank. Also at the party filled with the distinguished guests was no other than Hushpuppi, the Instagram celeb who partied and took pictures with Dogara, Timi Frank, and Dino Melaye.

The lifestyle displayed by Hushpuppi on Instagram drew several Nigerian music stars to him. Touted as a philanthropist, music stars like Olamide and 9ice sang Hushpuppi’s praises with reckless abandon. It is, however, not certain whether these music stars benefitted from Hushpuppi’s largesse.

On November 16, 2014, Hushpuppi was spotted with ‘Kukere’ star, Iyanya. He shared a picture of himself with the singer with the caption, “Out for dinner with Mr. Oreo Iyanya.”

On November 1, 2018, Hushpuppi shared a picture of himself with Wizkid. The two were seen to be hanging out somewhere in Dubai.

Hushpuppi meets Manchester City defender
On March 26, 2019, Hushpuppi shared a picture of himself with Manchester City defender and French international, Benjamin Mendy. Although the nature of the relationship between the Instagram celeb and the footballer could not be established, he captioned the picture, “I wish I can play for Manchester City and be humble and down to earth like my bro Ben Mendy. Thanks for being the most amazing person ever bro.”

Confrontations with Nigerian celebs
From Davido to Eniola Badmus, Kcee, Phyno and Timaya, Hushpuppi has had his fair share of controversies. He had first taken on Davido, claiming that he was richer than the musician. He bragged about his authentic designer wears and shoes, saying many Nigerian celebs wear fake products.

He had also trolled Phyno and Iceprince, saying that since the duo wear fake Patek wristwatches, they should stop complaining when people pirate their music. He also toed the same line in respect of Eniola Badmus and Timaya, who in anger dragged him and dared him to come back to Nigeria.

Between Hushpuppi and Mompha
Hushpuppi is rarely seen with individuals on his Instagram posts. But on December 14, 2015, he shared a picture of himself and Mompha, announcing to his followers that they were both flying to Malaysia on a private jet for some business deals after expending millions on designer shoes, bags, and clothes. However, there are unconfirmed reports that the relationship between the two Instagram celebs has since gone sour.

Interestingly, Hushpuppi was reportedly arrested in Dubai exactly eight months after Mompha was arrested in Abuja by the Economic and Financial Crimes Commission, EFCC, for alleged fraudulent activities.
-The Nation

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Fidelity Bank Eyes Oversubscription To N127.1 Billion Combined Offers

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Against the background of groundswell of supports and enthusiasm for the bank’s ongoing offers, Fidelity Bank Plc has started preparations to allow the bank absorb oversubscriptions.

With investors rallying behind the bank’s N127.1 billion combined rights and public offer, market pundits had indicated that the bank would raise more than initial size of the combined offer.

Reports have shown high subscription levels for the offers early weeks of the offer period, riding on the back of acceptances by existing shareholders and demand by the general investing public.

Fidelity Bank is offering a rights issue of 3.2 billion ordinary shares of 50 kobo each at N9.25 per share. The bank is also simultaneously offering 10 billion ordinary shares of 50 kobo each to the general investing public at N9.75 per share.

The acceptance and application lists for the rights issue and public offer, which opened on Thursday, June 20, 2024, are scheduled to close on Monday, July 29, 2024. The rights issue has been pre-allotted on the basis of one new ordinary share for every 10 existing ordinary shares held as at the close of business on Friday, January 05, 2024.

With promising feedbacks from receiving agents and as shareholders, investors, experts and other stakeholders continue to rate the combined offers high, the board of Fidelity Bank has called an extraordinary general meeting (EGM) to enable the bank to absorb expected surplus funds.

Shareholders are scheduled to meet later this month to authorise the company “to accept surplus monies arising from potential oversubscription of the combined offer in such proportion as may be determined by the board of directors, subject to the company’s issued share capital and obtaining relevant regulatory approvals”.

Shareholders are also expected to increase the issued share capital of the company from N22.6 billion divided into 45.2 billion ordinary shares of 50 Kobo each to N26.70 billion through the creation of up to 8.2 billion in order to “accommodate potential oversubscription of the combined offer in the proportion of 5.0 billion additional ordinary shares under the public offer and 3.2 billion additional ordinary shares under the rights issue”.

The meeting will also mandate the board to take all necessary actions in line with the absorption of the oversubscription funds.

The board of the bank reiterated its commitment to retain the bank’s international banking license by meeting the new capital requirement within the regulatory timeframe.

According to the board, the resolutions proposed for shareholders’ approval at the upcoming EGM of July 26, 2024, are to enable acceptance of potential oversubscription from the combined offer, subject to relevant regulatory approvals.

The board pointed out that with the resolutions to accept oversubscription, the bank will be in stronger position to take advantage of emerging business opportunities and secure long-term profitability and competitive advantage, while ensuring increased shareholder value.

The net proceeds of the offer would be applied to investments in information technology infrastructure, business and regional expansion, and product distribution channels.

“The company is on a strong growth trajectory and requires additional capital for improved profitability, expansion- domestic and international, and enhancement of its digital capabilities.

“Continuing advances in technology, the rapid evolution of the business of banking, and changes in the operating landscape also make it imperative that the bank remains agile, adaptable and properly positioned to respond appropriately to developments, whilst remaining a competitive and forward-looking institution,” the board stated.

Directors of the bank assured that notwithstanding the continued rapid evolution of the banking industry, Fidelity Bank has been placed on foundation for strong and sustainable growth.

Fidelity Bank Plc’s combined N127.1 billion rights and public offer had struck early success as enthusiastic shareholders mobilise to pick their pre-allotted shares and buy more stakes in Nigeria’s most-widely owned commercial bank.

Shareholders have said they would pick their rights and buy more shares from the public offer in a massive show of support and positioning in the bank. Fidelity Bank had delivered an average annual capital gain of more than 100 per cent over the past five years and ranked among the elite stocks with the highest corporate governance rating at the Nigerian stock market.

In separate interviews, shareholders across Nigeria’s leading shareholders’ associations, said the pricing of the highly discounted rights issue and public offer, the operational growth of the bank over the years, dividend records and capital gains were attractions to buy more stakes in the bank. Fidelity Bank is one of the few companies that pay dividends twice a year at the stock market.

They envisioned that a post-recapitalisation Fidelity Bank would deliver higher returns and continue to be a leading preserver of values for shareholders’ wealth.

The shareholders, who spoke through their leaders, said recapitalisation has offered good opportunity to the investing public to buy into good banking stocks at reduced prices, noting that banks are the most influential stocks at the Nigerian market. Subscribers to primary market issues are exempted from paying transaction costs, unlike direct purchase through the secondary market.

Shareholders, under the auspices of Independent Shareholders Association of Nigeria (ISAN), Ibadan Zone Shareholders Association (IBZA), Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Pragmatic Shareholders Association of Nigeria and Progressive Shareholders Association of Nigeria among others, said they were picking up their rights and mobilising supports for the bank.

The general shareholders’ endorsements represent a major boost for Fidelity Bank, which has the most diversified retail shareholders’ base among Nigerian banks.

With nearly 400,000 shareholders, no single shareholder held up to 5.0 per cent of the issued share capital of the bank. Five per cent and above are considered the material shareholding under extant laws and market regulations.

Rights issue is traditionally pre-allotted on the basis of existing shareholdings and its success, most often, depend largely on the satisfaction and enthusiasm of existing shareholders.

Fidelity Bank appears to be riding high on its highly diversified shareholding base with its popularity showing across all cadres of investors in the market. The shareholders’ comments came on the heels of similar positive comments by investment experts and capital market stakeholders.

The combined rights and public offers had opened to a rousing support from the investing public as key capital market stakeholders recalled the symbolic importance of Fidelity Bank’s impressive growths and investor-friendly disposition over the years.

From the Nigerian Exchange (NGX) to stockbrokers, investors and customers; the N127.1 billion combined rights and public offer received unreserved recommendations, with industry thought leaders citing the performance of Fidelity Bank in its core banking operations and as a quoted company at the stock market.

They said Fidelity Bank’s N127.1 billion combined rights and public offer was the right way for the nation’s banking recapitalisation exercise to start as the bank, which has the highest corporate governance rating and an average annual capital gain of more than 100 per cent at the stock market, has strong appeal to the investing public.

The Doyen of Stockbrokers, the oldest practicing stockbroker, Alhaji Rasheed Yussuff, said Fidelity Bank has good records going for it with its history of impressive growth and profitability and dividend payments.

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NNPCL Explains Reason For Drop In Dangote Refinery’s Stake To 7.2%

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The Nigerian National Petroleum Company Limited has said that it decided not to add to its earlier investment in the 650,000 barrels per day Dangote Refinery.

NNPCL spokesperson, Olufemi Soneye disclosed this in a terse statement in reaction to Dangote Refinery’s announcement that NNPC’s stake is now 7.2 percent contrary to the 20 percent stake.

According to Soneye, NNPCL had several months ago decided to cap its investment at the amount already paid.

Soneye said that the decision not to invest any further in the Dangote refinery did not impact NNPC’s business.

“Several months ago, we made a commercial decision to cap our investment at the amount already paid.

“This decision was taken by NNPC Ltd and has no impact on our business,” he said.

This comes as the Chairman of Dangote Group, Aliko Dangote, revealed that NNPCL’s stake in the Dangote Refinery is now 7.2 percent due to NNPC’s failure to pay the balance of their shares, which was due in June last month.

However, the position is contrary to the widely announced claim by the Group Chief Executive Officer of NNPCL, Mele Kyari, that the company had bought 20 percent in Dangote Refinery.

 

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Dem Staffer Fired After Saying Donald Trump Gunman Should Have Taken ‘Shooting Lessons So You Don’t Miss Next Time’

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Democrats staffer fired after saying Trump gunman should have taken ‘shooting lessons so you don’t miss next time’

A staff member of a Mississippi Democratic congressman has reportedly been fired after saying she wished sho0ter Thomas Crooks had ‘better aim’ to take Donald Trump’s life.

On Saturday evening, July 13, shortly after Thomas Matthew Crooks, 20, attempted to assassinate the former president during a rally in Pennsylvania, Jacqueline Marsaw, the field director for Mississippi Congressman Bennie G. Thompson shared a vile post on Facebook about the attack.

Marsaw, 61, the president and vice president of a local NAACP in Natchez, Mississippi, has since deleted the post and her account, but screenshots have been shared across social media.

She shared: ‘I don’t condone violence but please get some shooting lessons so you don’t miss next time ooops that wasn’t me talking.’

 

Democratic congressman

In a follow-up post, she said: ‘That’s what your hate speech got you!!’

Marsaw has since been fired from her position by Mississippi Congressman Bennie G. Thompson.

‘I was made aware of a post made by a staff member and she is no longer in my employment,’ Thompson said

A member of the crowd was killed in the deadly sho0ting, while two others who were wounded are in a critical condition. All three are males, according to law enforcement officials.

After Trump was sh0t, the Secret Service swarmed around the 45th US President as piercing screams were heard from the MAGA crowd.

He then got to his feet with blood down his cheek and raised his fist in the air while the audience shouted ‘USA’ as he was dragged off stage.

Trump was taken to the hospital for treatment before being later released.

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