Instagram celebrity, Ramon Olorunwa Abbass, popularly known as Hushpuppi has received fresh charges as US prosecutors submitted court documents showing that he committed fraud and laundered over $400k while in prison.

This was disclosed by an agent, who claims to be working under the Federal Bureau of Investigation of the national government of United States, Andrew Innocenti in a document. 

The documents which were presented before the United States District Court of California on Wed 16th March 2022 showed fresh evidence indicting HushPuppi of committing fraud and money laundering in U.S Federal correctional facility.

The court documents stated that Hushpuppi, while in U.S Federal correctional facility, participated in the purchase and laundering of Economic Impact Payment debit cards fraudulently obtained from stolen data of U.S citizens and residents.

Economic Impact Payments are financial support offered by the US government to U.S residents according to the CARES Act. One of the ways eligible US residents receive their Economic Impact Payments is by debit cards.

From the documents presented in court, it was found that hackers use data of U.S residents to file and obtain Economic Impact Payments debit cards. They sell off these EIP cards in underground marketplaces to other cyber criminals.

United States authorities said that although prisoners have limited access to telephone, video, internet and computer use because of their right to privacy in a court filing. Like the rest of the detainees, Hushpuppi was granted access to the computer network as well.

However, between January 28 and March 4, 2022, security authorities at a federal prison in the United States noticed that Hushpuppi was using the internet more often. 

A dedicated system was setup for him and his activities were recorded for 7 days.

It was found that Hushpuppi was actively buying EIP debit cards from an underground cyber criminal marketplace called StimulusCard (“https://stimuluscard.com/”). While being recorded, Hushpuppi bought a total of 58 EIP debit cards with a total value of $429,800 on the site and laundered the money through one AJ.

 

 

President Muhammadu Buhari says Mai Mala Buni, Yobe state governor, should be allowed to plan the national convention of the All Progressives Congress (APC).

TheCable had reported how Buni worked to scuttle the APC convention scheduled for March 26.

The plot came to light after Abubakar Sani Bello, Niger governor, took over the affairs of the APC.

Independent National Electoral Commission (INEC) had subsequently rejected a notice of a national executive committee (NEC) meeting announced by Bello.

In a letter dated March 16 and addressed to Atiku Bagudu, Kebbi governor and chairman of the Progressives Governors Forum (PGF), Buhari said APC “has demonstrated its inability to proceed with the issue of effecting change in the leadership of its Caretaker Extraordinary Convention Committee (CECC)”.

The president said there is a need for the party to avoid litigation owing to the fact that the party has aggrieved members who have threatened to go to court.

“It has come to my attention that, because of recent events, the APC is faced with a multiplicity of court cases pending against it in various courts across the country. As a result of this, the party faces the possibility and prospect of the invalidation of all its activities and actions by the Independent National Electoral Commission (INEC),” the letter seen by TheCable reads.

“The party has demonstrated its inability to proceed with the issue of effecting change in the leadership of its Caretaker Extraordinary Convention Committee (CECC), in a way that is inclusive, legal and respectful of the time limit set and required for giving the INEC Sufficient notice of the time and venue for holding its convention.

“No doubt, these controversies and uncertainties, as enumerated above, pose a real threat to the party; and may lead to a possible nonrecognition of its activities, elections and the probable invalidation of all its other actions by INEC. This may ultimately even lead to its implosion and non-existence.

“First, the issue of the leadership of the Caretaker Extra Ordinary Convention Committee (CECC), should immediately return to status quo ante.

“Second, all members of the governors’ forum and their followers should desist from any behaviour or utterance that will likely lead to disunity in the ranks of the party, and ultimately jeopardise the transition to the convention.

“Third, the Mai Mala Buni-led CECC should, accordingly, be allowed to proceed with all necessary preparations to hold the convention as planned-unfailingly, on 26th March, 2022.”

The Yobe state governor had earlier on Wednesday met with the president who is in the United Kingdom (UK) for a two-week medical checkup.

 

 

 

 

Nigerian Electricity Regulatory Commission on Wednesday declared that subsidy on power amounting to about N600bn during some period had now been stopped by the Federal Government.

It also revealed that electricity tariffs were raised in February this year, and was quick to, however, state that the tariff payable by some customers in the franchise area of one of the distribution companies was reduced.

This came as power generation companies condemned Nigerian Bulk Electricity Trading company, stating that NBET was failing in its obligations in terms of payment for power generated by the Gencos.

Speaking at a press briefing in Abuja on the challenges in the power sector and other issues, the Chairman, NERC, Sanusi Garba, stated that subsidy on electricity was a policy issue of the Federal Government that had to be halted.

He said, “The role of the commission is to make a determination of the rates that consumers should pay. So we strike a balance between consumers and investors.

“Now subsidy is a policy issue determined by the government. The government will decide that the rates calculated or agreed by the regulator may at this time not be passed on to consumers. It has happened many times.

“In the past four, five years the level of subsidy has gradually been reduced, because you cannot run the electricity market on life support and say that investors cannot get their return on investment until government steps in to provide the required funding.”

Garba added, “So that policy decision (stopping electricity subsidy) is as announced by the Minister of Finance. The subsidies have been, at one time as high as N600bn a year, and gradually coming down to about N30bn or so this year.”

On concerns about the rise in electricity tariffs, the NERC boss stated that the adjustment was made in February this year following some economic fundamentals considered by the commission.

“What happened on February 1, 2022, is a minor review of tariff. It is very clear on our website that every six months we will adjust rates to take care of the foreign exchange component of cost and also inflation,” he stated.

Garba described the tariff adjustment as absolutely straightforward, stressing that the distribution companies were meant to inform their customers of the changes.

On the recent blackouts and repeated collapse of the national electricity grid, the NERC chairman said the rupturing of gas pipelines by vandals and routine maintenance works on some power plants contributed to the instability of the country’s power system.

This was further buttressed by the Federal Ministry of Power in a statement issued in Abuja the media aide to the power minister, Sanusi Isa, where it stated that the national grid suffered double system collapse within two days due to so many factors

“The current energy crisis confronting some key sectors of the economy also contributed to the problems we are facing now in the power sector,” the statement read in part.

It added, “We are where we are today also because of the increasing vandalism of pipelines that also supply gas to the power plants.

“This too is being resolved in collaboration with the relevant agencies. NNPC and other gas suppliers are working relentlessly to restore gas supply for optimum power supply.”

The ministry said the Federal Government was doing everything possible through the relevant security agencies to stop the vandalism of pipelines.

“Routine maintenance of power generating plants had also contributed to the current power outages we are experiencing,” it stated.

The power ministry added, “These challenges do not in any way indicate that the ongoing rehabilitation of the national grid by the government is not yielding results.”

This came as the Gencos, through their umbrella body, Association of Power Generation Companies, declared on Wednesday that NBET was failing in its obligations in terms of payments for power supplied to the grid by Gencos.

NBET had in a statement on March 13, 2022, stated that it was making payments to Gencos as and when due and had never defaulted on any payment cycle to date.

It further claimed that the percentage payment made to Gencos had continually been on the increase, with the N701.9bn payment assurance guarantee of government and that this ensured a minimum of 80 per cent of Gencos invoices for years 2018 and 2019.

NBET had also stated that the second payment guarantee of N600bn ensured an average of 95 per cent payment of Gencos invoices for 2020.

But the Gencos through APGC kicked against the claims of NBET on Wednesday, stressing that the bulk trader was giving out false information.

“As power generation companies, we believe that their (NBET) claim is devoid of the true picture of the realities of the generation companies in the Nigeria electricity supply industry and therefore capable of misleading the numerous consumers and stakeholders who deserve to know the truth,” APGC stated.

It added, “This is because, a perusal of their response shows that NBET never said anything about their payment details, from 2015 till 2017.

“We also believe that NBET is deliberately redirecting the focus from its inability to carry out its obligations which has thrown the Gencos in a financial quagmire, by focusing its insistence on the payments from the payment assurance fund.”

The Gencos charged NBET to publish its payments as this would show the level of indebtedness of the bulk trader to power generators.

 

 

Naira has dropped to N585 against the dollar at the parallel section of the foreign exchange market.

The figure represents N4 or 0.7 percent depreciation compared to the N581 it traded last week.

Bureaux De Change operators (BDCs), popularly known as ‘abokis’, who spoke to our correspondent in Lagos on Wednesday, said the naira exchanges for N585 to the dollar while they purchase at N578/$1, leaving a gain of N7.

A parallel market (street market) is characterised by noncompliant behaviour with an institutional set of rules.

Since the suspension of trading information by abokiFX — citizens have resorted to street traders for current parallel market rates of the local currency.

However, Central Bank of Nigeria (CBN) has consistently maintained that the parallel market represents less than one percent of foreign exchange (FX) transactions and should never be used to determine the naira/dollar exchange rate.

On the apex bank’s website, the naira closed at N416.42 to a dollar on the official market.

This implies that the official market rate has dropped N3 since January.

The Nigerian economy is expected to take a hit from the Russia-Ukraine crisis as an import-driven nation and a possible decline in diaspora remittances from Europe, especially the war zone. Since the crisis started on February 24, Nigeria’s foreign reserves have dropped by $138 million to $39.7 billion.

Next week, CBN’s policy-setting committee will meet to discuss monetary rates and the geopolitical concerns in Europe.

 

The United Kingdom has said it never suspended student, work and family visas in Nigeria.

The British High Commission, in a statement yesterday, said the clarification became necessary as a result of reports circulating in the Nigerian media and online that the UK has suspended student, work and family visas for Nigerian applicants.

“This is not true. It is still possible to apply for any category of UK visa in the usual way on gov.uk and via our Visa Applications Centres (VAC) in Nigeria.

“Our VACs remain open and customers are welcome to apply for a standard visa of any category in the usual manner, this includes student, family, work and visit visas.

“However, due to a reprioritisation of resources in response to the humanitarian crisis arising from the invasion of Ukraine, the UK has temporarily suspended its priority visa service. As our 15 March statement, made clear, this temporary suspension only applies to the UKVI’s expedited, added-value ‘Priority’ and ‘Super Priority’ visa services.  This suspension is to enable the UKs global visa operation to prioritise applications for the new Ukraine Family Scheme,” the British High Commission said.

The British High Commission further said the decision to suspend priority visa services was also clearly stated on UKVI’s guidance page, which sets out the latest decision waiting times for visa applicants outside the UK. 

“On behalf of UKVI, the British High Commission in Nigeria would like to apologise for any inconvenience this development has caused.

“The British High Commission in Nigeria will issue an updated statement the moment ‘Priority’ and ‘Super Priority’ visa services resume,” the British High Commission also said.

 

The Ukrainian General Prosecutor's office says ten people were killed while standing in line for bread in the northern city of Chernihiv, according to an Associated Press report.

Satellite images from the Maxar space technology company showed Russian self-propelled artillery and multiple-rocket launchers deployed on the outskirts of Chernihiv, their barrels and tubes aimed at the city.

Ukrainian Foreign Minister Dmytro Kuleba said on Twitter that the attack on the theater in Mariupol is a “horrendous war crime.” Maxar’s satellite imagery from Monday showed the word “children” written in large white letters in Russian in front of and behind the building.

Meanwhile, the Russian defense ministry denied bombing the theater or anywhere else in Mariupol on Wednesday.

In central Kyiv, shrapnel from an artillery shell smashed into a 12-story apartment building early Wednesday, wiping out the building’s top floor and starting a fire. Emergency services reported two victims from the blaze, without specifying if they were killed or injured.

Fighting continued in Kyiv’s suburbs, depriving thousands of heat and clean water.

A Russian airstrike destroyed multiple residential apartments in the town of Markhalivka southwest of the capital, authorities said.

Russia now occupies the city of Ivankiv, 80 kilometers (50 miles) north of Kyiv, and controls the surrounding region on the border with Belarus, local officials said.

Relentless strikes pounded the northeastern city of Kharkiv close to the Russian border, but Ukrainian forces continued to thwart Russia’s incursion into the heart of the city, city officials said.

Powerful explosions also thundered in the region around Kherson, a strategic port near the Black Sea. Ukrainian military forces have dealt a punishing blow to Russian air assets stationed at the airport in Kherson, which Russian troops seized early in the war, the Ukraine military’s General Staff said late Wednesday.

Satellite photos by Planet Labs PBC analyzed by The Associated Press show helicopters and vehicles on fire at the air base after what Ukraine said was its strike on Tuesday.

There were also explosions near a train station in the southeastern city of Zaporizhzhia, home to several power stations.

The region “is on the verge of a humanitarian catastrophe,” Zelenskyy’s office warned.

In Mariupol, workers afraid for their own lives brave relentless shelling to dump the bodies of children in a mass grave. Local officials struggle to account for the dead. Although they’ve tallied 2,500 deaths in the siege, many bodies crushed in the rubble can’t be counted because of the assault.

Bodies lie out in the street. Workers tell families to leave their dead outside because it’s too dangerous to hold funerals.

In Kharkiv, doctors are struggling to treat Covid-19 patients as the bombs fall outside. Several times a day, air raid sirens wail at the Kharkiv Regional Clinical Infectious Diseases Hospital, sending feeble virus patients — some connected to ventilators and struggling to breathe — running for bomb shelters.

“Bombing takes place from morning into night,” hospital director Pavel Nartov said. “It could hit at any time.”

HOW IS THE WORLD RESPONDING TO THE WAR?

Six Western nations have called for a U.N. Security Council meeting on Ukraine on Thursday. The United Kingdom’s U.N. Mission tweeted Wednesday that the six countries asked for the meeting, saying: “Russia is committing war crimes and targeting civilians. Russia’s illegal war on Ukraine is a threat to us all.”

The mission said the meeting was requested by six Security Council members and posted their flags -- the U.K., United States, France, Ireland, Norway and Albania. It has not yet been officially scheduled.

Zelenskyy acknowledged in his speech to the U.S. Congress that the no-fly zone he has sought to “close the sky” over his country may not happen. Still, he said the U.S. must sanction Russian lawmakers and block imports, in addition to providing military assistance.

“We need you right now,” Zelenskyy said in remarks livestreamed to the U.S. Capitol, which were punctuated with a graphic video contrasting Ukraine before the invasion with the grisly aftermath.

In an unprecedented move, the Council of Europe expelled Russia from the continent’s foremost human rights body. Staff even went outside its headquarters in Strasbourg, France, and took down the Russian flag.

Tiny Kox, the president of the Parliamentary Assembly of the Council of Europe, said the expulsion “was necessary, and I am glad we dared to do so.”

Putin said Wednesday that the operation in Ukraine is unfolding “successfully, in strict accordance with pre-approved plans.”

But with the Ukrainian resistance frustrating Kremlin hopes for a lightning victory, Russian Foreign Minister Sergey Lavrov said that a “business-like spirit” has emerged in talks with Ukrainian officials, which he described as focused on a “neutral status” for Ukraine’s military.

The leaders of three European countries, Poland, the Czech Republic and Slovenia, returned on Wednesday from a risky trip to the besieged Ukrainian capital to show their support and meet with Zelenskyy.

Biden announced that the U.S. is sending an additional $800 million in military assistance — including anti-aircraft and anti-armor weapons and drones — to Ukraine, making a total of $2 billion in such aid sent to Kyiv since Biden took office more than a year ago.

Biden also plans to travel to Europe next week for talks with European leaders about the Russian invasion, and will attend an extraordinary NATO summit in Brussels. NATO has been bolstering its eastern flank with troops and equipment to deter Russia from invading any of its members.

Japan announced it will revoke its “most favored nation” trade status for Russia over its invasion of Ukraine.

 

 

Central Bank of Nigeria (CBN) has introduced cash collection centres called Bank Neutral Cash Hubs (BNCH), to be established by registered processing companies or deposit money banks (DMBs) based on business needs.

The apex said this in the guidelines for the registration and operation of BNCH in Nigeria, released on Monday and signed by Ahmed.B.Umar, director, currency operations department.

The CBN said BNCHs would provide a platform for customers to make cash deposits and receive value irrespective of the bank with which their account is domiciled.

They will be located in areas with high volumes of commercial activities and cash transactions.

“The key objective of setting up Bank Neutral Cash Hubs (BNCH) is to reduce the risks and cost borne by banks, merchants and huge cash handlers in the course of cash management activities; deepen financial inclusion; leverage on shared services to enhance cash management efficiency,” the guideline reads.”

“A BNCH may carry out the following: Receipt of Naira denominated deposits on behalf of financial institutions from individuals and businesses with high volumes of cash; High volume cash disbursement to members of the public on behalf of financial institutions; any other activities that may be permitted by the CBN.”

The BNCHs are, however, barred from carrying out investing or lending activities.

They are also not allowed to receive, disburse, or engage in any transaction involving foreign currency or sub-contract another entity to carry out its operations as well as undertake any other transaction not prescribed by the guideline.

On deposit and withdrawal limit at cash hub facility, the apex bank specified a minimum transaction value of N500,000 for individuals and a minimum transaction value of N1 million for corporate entities.

Only deposit money banks and cash processing companies are allowed to request approval to operate BNCH registration and pay a non-refundable application fee of N100,000 and a non-refundable approval fee of N500,000.

 

 

A Court of Appeal has stopped Shell Plc from selling any assets in Nigeria until a decision is reached on the company's appeal of a nearly $2 billion penalty for an alleged oil spill.

A copy of the court ruling, which was seen by Reuters on Monday, was issued on March 11 and also ordered Shell to deposit the money in an account controlled by the court within two working days.

A spokesperson for Shell's Nigeria unit said the company would immediately appeal the decision.

A panel of three judges said Shell, acting through its agents or subsidiaries was restrained from "selling, allocating, vandalising or disposing off any of its assets/properties ..." pending the determination of the appeal.

Shell's appeal hearing is set to begin on May 5.

"We are disappointed at this outcome. We have a strong belief in the merit of our case and will take immediate steps under the law to appeal and stay the execution of the decision until the appeal is determined," the spokesperson said.

A Federal High Court in November 2020 ordered Shell to pay 800 billion naira ($1.95 billon) to 88 communities of Egbalor Ebubu in Rivers state, who had accused the company of an oil spill that damaged their farms and waterways.

Shell, which denied causing the spill, then appealed the verdict.

Shell started talks with the Federal government last year about selling its stake in the West African country's onshore fields, where it has been active since the 1930s, as part of a global drive to reduce its carbon emissions.

The company, the most significant international oil major operating in Nigeria, has faced a string of court cases in the past over oil spills.

Last year, Shell agreed to pay a Nigerian community $111.68 million to settle a case over an oil spill that took place more than 50 years ago.

 

 

 

Airline operators in Nigeria have threatened to shut down operations in three days if the price of aviation fuel, popularly known as Jet-A1, is not brought down.

They called on Nigeria National Petroleum Corporation (NNPC) Ltd to give them a licence to import the product in order to avert the shutdown.

Chairman, Air Peace, Allen Onyema, made the call at a stakeholders’ meeting with the deputy speaker, House of Representatives, Idris Wase, on Monday.

The meeting, attended by NNPC Group Managing Director, Mele Kyari, marketers and airline operators in the country, was a follow up to the earlier meeting held on the scarcity and high price of aviation fuel in the country.

Onyema, who spoke on behalf of the airline operators, said aviation fuel marketers are arbitrarily increasing the product’s price which led to the skyrocketing of air ticket prices and disruptions of flights.

According to him, the marketers have refused to disclose the intricacies involved in the pricing and how they arrived at the hike.

He informed that the recent price hike to over N500 started in January 2022 from its initial price.

Onyema said though he was not threatening any further hike in the ticket price, an airline ticket may rise to N120,000 in no distant future.

He added that, apart from the high cost of aviation fuel, airline operators are paying threefold of what other airlines pay as insurance in other climes.

Onyema added that since they can buy aircraft that cost hundreds of millions of dollars, they also have the money to import aviation fuel.

Earlier, the deputy speaker had expressed his disappointment over the failure of NNPC and the marketers to bring down the price as agreed in the last meeting.

He alleged that the two parties were using unnecessary technical terms to confuse the House over the issue.

On his part, the NNPC GMD said, as of present, 19 companies have stock of aviation fuel, but the pricing still remains a thing of contention between the companies and airline operators.

He added that they have engaged other companies to supply aviation fuel to airlines in order to increase its availability.

 

 

 

The national electricity grid suffered a system collapse on Monday, leading to power outages across the country.

The development comes as Nigerians are experiencing epileptic power supply and a hike in fuel prices.

The grid is infamous for experiencing disruptions, having collapsed in February, May, July and August 2021.

Electricity distribution companies (DisCos) in the country said the recent collapse of the grid occurred at 10:40am and disrupted power supply within their networks.

On the basis of the development, Eko Electricity Distribution Company Limited (EKEDC) apologised to customers and promised to keep them updated on the situation.

“Dear esteemed customer, we regret to inform you of a total system collapse on the national grid at 10:40 am today, leading to outages across our network,” EKEDC said.

“We are closely monitoring the situation with our TCN partners to determine the cause and a timeline for resolution.” Enugu Electricity Distribution Plc, another DisCo, said its customers in five states had no power supply.

Similarly, the Enugu Electricity Distribution PLC (EEDC) informed its customers in the South East of a general system collapse which occurred on the morning, of Monday, March 14, 2022 at 10:40 am,”.

Emeka Ezeh, head of corporate communications, in a statement blamed the collapse for the loss of supply experienced across the network.

“We are on standby and awaiting signal from the National Control Centre (NCC) for restoration of supply.” he said

In a similar vein, Kaduna Electric also confirmed its customers of the national grid collapse via its Twitter handle.

“We regret to inform you that the power outage being experienced in our franchise states is sue to system collapse of the national grid,” the post reads.

For his part, Felix Ofulue, head of corporate communications, Ikeja Electric, admitted that its customers were affected by the system collapse.