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NDLEA Grills Obi Cubana for Five Hours Over Drug Link

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The National Drug Law Enforcement Agency (NDLEA) invited socialite, Obi Iyiegbu, popularly known as Obi Cubana for questioning, over his alleged link to the illegal narcotics business.

Obi Cubana, who is the Chairman of the Cubana Group of Companies, was grilled by the anti-drug agency for five hours at the NDLEA headquarters in Abuja before he was granted bail and asked to return at a future date.

Sources who do not want their name in public revealed that there were suspicious payments made into the account of Cubana by three convicted drug dealers from Malaysia, Nigeria, and India.

Operatives of the NDLEA and the Economic and Financial Crimes Commission have now widened the probe into Cubana and his business network based on the premise that he may be involved in the drug business.

“Obi Cubana arrived at the NDLEA office around 9am and responded to questions for some hours before he was granted bail at 2pm. 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 that was arrested at the Murtala Muhammed International Airport, Lagos and convicted in 2017, also paid money into Cubana’s account,” said a source.

The socialite was allowed to go home in order to get some documents that would be presented to the NDLEA.

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’.

In what seemed like a bid to outdo one another, Cubana’s associates sprayed him with bundles of new naira notes. In one of the videos that went viral, two guests were seen having a playful cash fight as they threw wads of money at each other, while other guests laughed.

In another viral video, wads of N50, 000 are thrown at Cubana while he juggles them like a football. The event became the most talked about party of 2021 as it trended on social media for several months. After the funeral, Cubana continued to show off his wealth, posting photographs of his trips to exotic locations on private jets.

As his celebrity status blossomed, he was honoured by several dignitaries. In October last year, he was a guest at the Nigerian Army Resource Centre to launch a book titled, ‘ Leadership Principles for Junior Commanders in the Military’ authored by Col. Chukwu Obasi.

He also built a church, The Good Shepherd Anglican Church in his hometown late last year.

When questions about the source of his wealth began to crop up, Cubana told the BBC that he came to Abuja for his National Youth Service Corps programme in 1999 and served at the National Assembly.

He said he went into the real estate business where he got a contract to furnish houses. The socialite added that he got a contract with the Pipelines and Product Marketing Company and later ventured into the hospitality sector where he has made billions of naira.

The 46-year-old has since opened branches of Cubana club in about five states including Imo, Lagos, Rivers, Enugu and Abuja. But the authorities were not satisfied with his explanation.

Cubana, who had hitherto kept a low profile, subsequently became a subject of investigation by the Nigerian government.

In November 2021, he was detained by the EFCC for three days as part of investigations into alleged money laundering, tax fraud and other financial crimes before he was released with a condition that he would continue to report back for questioning.

Other associates of the socialite who have been questioned by the authorities for their flamboyant lifestyle include: Pascal Okechukwu, popularly known as Cubana Chief Priest; and the Chairman, Five Star Group, Emeka Okonkwo aka E-Money.

According to the Punch, the Spokesman for the NDLEA, Mr. Femi Babafemi, refused to comment when contacted on Thursday.

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NLC protests: Why Nigeria’s economy is in such a mess

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Nigeria is currently experiencing its worst economic crisis in a generation, leading to widespread hardship and anger.

The trade union umbrella group, the Nigeria Labour Congress (NLC), held protests in the main cities on Tuesday, calling for more action from the government.

A litre of petrol costs more than three times what it did nine months ago, while the price of the staple food, rice, has more than doubled in the past year.

These two figures highlight the difficulties that many Nigerians are facing as wages have not kept up with the rising cost of living.

Like many nations, Nigeria has experienced economic shocks from beyond its shores in recent years, but there are also issues specific to the country, partly driven by the reforms introduced by President Bola Tinubu when he took office last May.

How bad is the economy?

Overall, annual inflation, which is the average rate at which prices go up, is now close to 30% – the highest figure in nearly three decades. The cost of food has risen even more – by 35%.

However, the monthly minimum wage, set by the government and which all employers are supposed to observe, has not changed since 2019, when it was put at 30,000 naira – this is worth just $19 (£15) at current exchange rates.

Many are going hungry, rationing what food they have or looking for cheaper alternatives.

In the north, some people are now eating the rice that is normally discarded as part of the milling process. The waste product usually goes into fish food.

Widely shared social media videos indicate how some are reducing portion sizes.

One clip shows a woman cutting a fish into nine pieces rather than the average four to five. She is heard saying her goal is to ensure her family can at least eat some fish twice a week.

What is causing Nigeria’s economic crisis?

Inflation has soared in many countries, as fuel and other costs spiked as a result of the war in Ukraine.

But President Tinubu’s efforts to remodel the economy have also added to the burden.

On the day he was sworn in nine months ago, the new president announced that the long-standing fuel subsidy would be ending.

This had kept petrol prices low for citizens of this oil-producing nation, but it was also a huge drain on public finances. In the first half of 2023, it accounted for 15% of the budget – more than the government spent on health or education. Mr Tinubu argued that this could be better used elsewhere.

However, the subsequent huge jump in the price of petrol has caused other prices to rise as companies pass on transportation and energy costs to the consumer.

One other factor that is pushing up inflation is an issue that Mr Tinubu inherited from his predecessor, Muhammadu Buhari, according to financial analyst Tilewa Adebajo.

He told the BBC’s Newsday programme that the previous government had asked the country’s central bank for short-term loans to cover spending amounting to $19bn.

The bank printed the money, which helped fuel inflation, Mr Adebajo said.

Chart showing the changing food prices

What has happened to the naira?

Mr Tinubu also ended the policy of pegging the price of the currency, the naira, to the US dollar rather than leaving it up to the market to determine on the basis of supply and demand. The central bank was spending a lot of money maintaining the level.

But scrapping the peg has led the naira’s value to plunge by more than two-thirds, briefly hitting an all-time low last week.

Last May, 10,000 naira would buy $22, now it will only fetch around $6.40.

As the naira is worth less, the price of all imported products has gone up.

When will things get better?

While the president is unlikely to reverse his decisions on the fuel subsidy and the naira, which he argues will pay off in the long run by making Nigeria’s economy stronger, the government has introduced some measures to ease the suffering.

Nigeria’s Vice-President Kashim Shettima announced the establishment of a board charged with controlling and regulating food prices. The government also ordered the national grain reserve to distribute 42,000 tonnes of grains, including maize and millet.

This is not the first time the government has said it is distributing aid to poor and vulnerable Nigerians, but labour unions have often criticised the government’s method of food distribution, saying much of it does not reach poor families.

The government has also said it is working with rice producers to get more of it into markets and customs officials have been instructed to cheaply sell off bags of the grain that they have seized. In a sign of how bad things are, on Friday this led to a crush in the biggest city, Lagos, which killed seven people, local media report. These hand-outs have now been halted.

The rice was seized under the previous government, which banned imports of rice to encourage local farmers to grow more. That ban was lifted last year in at attempt to bring down the cost but because of the fall in the value of the naira, that has not worked.

Around 15 million poorer households are also receiving a cash transfer of 25,000 naira ($16; £13) a month, but these days that doesn’t go very far.

Culled from the BBC

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Africa

Nangolo Mbumba Sworn In as Namibia’s Interim President

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Nangolo Mbumba has been sworn in as the interim president of the southern African country of Namibia.

He was installed Sunday, following the death of President Hage Geingob earlier in the day at a hospital in Windhoek.

Geingob announced in January that he had cancer.

Mbumba said Sunday that he does not plan to run for president in elections later this year.

That means newly-installed Vice President Netumbo Nandi-Ndaitwah could seek the presidential office. If she won, she would be first female president in southern Africa.

However, she may face some challengers from within SWAPO, her political party.

The South West Africa People’s Organization or SWAPO has been in power in Namibia since it gained independence in 1990.

President Geingob recently upbraided Germany for supporting Israel against genocide charges at the International Court of Justice.

Geingob said Germany committed genocide in Namibia in the 1800s, killing tens of thousands of Africans.

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Horrible images of massive blast in Nigeria caused by explosives

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ABUJA, Nigeria (AP) — Three people died and 77 others were injured overnight when an explosives rocked more than 20 buildings in one of Nigeria’s largest cities, authorities said Wednesday, as rescue workers dug through the rubble in search of those feared trapped.

Residents in the southwestern state of Oyo’s densely populated Ibadan city heard a loud blast at about 7:45 p.m. Tuesday, causing panic as many fled their homes. By Wednesday morning, security forces cordoned off the area while medical personnel and ambulances were on standby as rescue efforts intensified.

Preliminary investigations showed the blast was caused by explosives stored for use in illegal mining operations, Oyo Gov. Seyi Makinde told reporters after visiting the site in the Bodija area of Ibadan.

3 killed and 77 injured in massive blast caused by explosives in southern  Nigerian city - Bharat Express

 

Nigeria explosion leaves 3 dead, 77 injured as rescue workers frantically  dig through rubble to search for survivors

 

3 killed, 77 injured in massive blast caused by explosives in southern  Nigerian city - ABC News

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