“Being a lawyer is not merely a vocation. It is a public trust, and each of us has an obligation to give back to our communities”, this is a popular saying by Janet Reno the famous American Lawyer. Attorney Prince Uche Nwakanma has demonstrated over the years that he is a worthy ambassador of Successful Lawyers of African dependents in The United State of America.
Prince Uche Nwakanma attended the University of Houston-Downtown and graduated with a Bachelor of Science Degree in Biology in 1999 as his first degree. He was inspired and had every reason to study medicine but for the love of Law he decided to go to law school. He attended Thurgood Marshall School of Law from 1999-2002 where he came out in flying colors even with the switch from sciences to law, he excels in all his papers. He was licensed to practice Law by The Supreme Court of Kansas, Federal Court for the Southern District of Texas in 2003. Attorney Nwakanma was also licensed to practice law by the 5th Court of Appeals and other Federal courts around US.
The various contributions of Attorney Prince Nwakanma did not go unnoticed in USA as he was voted among top 50 Black lawyer in USA and received several awards. He represented over 6, 000 clients in all areas of federal law.
Attorney Nwakanma was very successful as a lawyer and later when he ventured into business, he owned and managed several successful multi million dollar businesses in USA, his brilliance caught the attention of the former President of USA, President George W. Bush as he was at his tenure appointed a member of the president’s Business Advisory members for Texas. This was published in The Wall Street Journal.
Attorney Nwakanma and his wife Stella were also honoured and were invited to attend the President’s dinner at the White House by Presidents George W Bush and President Barrack Obama.
Attorney Nwakanma is a devoted Christian and a lover of humanity, who experienced God’s favours in his life.
He trusts in God’s power to save, bless, and forgive sins. He loves God and God has given him several second opportunities in his life, he took the bold step of bowing out of legal practice to focus on being a full time business man, philanthropist and evangelist.
Attorney Nwakanma has touched so many lives through charitable givings. Attorney Nwakanma is married to his beautiful wife, Attorney Stella Andrews, who is currently practicing Law in the State of Texas and they have 3 beautiful daughters together. Attorney Nwakanma and his wife intend to leave law practice completely to focus on winning souls for the Lord.
CORRUPTION FIGHTS BACK AS ECHONO IMPLEMENTS SWEEPING REFORMS
The attention of the Management of Tertiary Education Trust Fund (TETFund) has been drawn to a publication by the Sahara Reporters dated 20th July 2022 titled “Disquiet in Nigeria Education Agency, TETFund over Contracts Fraud, Procurement Racketing, Others under New Head, Sonny Echono”.
In the said report, it was alleged that the Executive Secretary of TETFund had turned the Fund into a fiefdom where contract splitting and padding was the order of the day.
It would be recalled that Arc. Sonny S. T Echono was appointed as Executive Secretary of TETFund by President Muhammadu Buhari, GCFR in March 2022 after his retirement as the Permanent Secretary of the Federal Ministry of Education; and this was based strictly on his track record as an astute administrator, having served meritoriously in the same capacity at the Federal Ministry of Agriculture and Rural Development as well as Federal Ministry of Communication.
In demonstration of his determination to provide quality, transparent and accountable leadership, the Executive Secretary on assumption of office, in a widely publicized press conference, expressed total commitment to upholding and entrenching tenets of accountability and transparency in the Fund and this he has demonstrated in the period of being at the helm of affairs, through introduction of innovative policies and reforms aimed at improving efficiency.
“I know petitions will soon start flying and my opponents will join forces” – These comments were made by Arc. Sonny Echono, the new Executive Secretary of Tertiary Education Trust Fund (TETFUND) as he signed the final batch of letters disengaging 37 members of the 87 members National Research Fund Screening and Monitoring Committee (NRFS & MC) for failing to diligently discharge their duties or whose roles were at best unclear.
Earlier, he had frozen, cancelled or suspended programmes and consultancies adjudged wasteful or economically disadvantageous to the Fund. Some of those affected are licking their wounds while a few who initially threatened legal actions have settled for renegotiation after realizing their weak positions.
The unwieldy 99-man Technical Advisory Group (TAG) has been put on notice to right-size for prudence and greater operational efficiency. The Executive Secretary is indeed stepping on some long toes and the expected response is to question his qualification for the job which none of his five (5) predecessors (3 academics and 2 technocrats) was better prepared for.
It is worthy of note that part of the reforms introduced by Arc. Echono include the need for curriculum review, skill acquisition/Entrepreneurship, advancement of Information and Communication Technology (ICT) as well as deepening Research, Development and Innovation. Others are provision of funds for capacity building of lecturers to equip them with requisite skills for Entrepreneurial Studies and Research Studies in Digital Technologies and prepare Nigerian students for global competitiveness with the end goal of building a knowledge economy and increasing the country’s global presence.
He has also initiated series of partnerships with notable institutions globally and locally, such as University of Brazil, Vicosa on tuition free agreements for training of more Nigerian professionals in Agriculture, transnational cooperation with the Government of Britain, Forum for Agricultural Research in Africa (FARA), Nigerian Economic Summit Group (NESG), African Union (AU), signing of an MoU with the University of Sussex for the development of tertiary education in Nigeria, partnership with the European Union (EU) on Research, Development and Innovation at Brussels among others; all aimed at articulating new strategies to reinforce existing efforts of the government at improving standard of education in Nigeria.
Internally, he is undertaking a holistic review of the operating procedures of the Fund, operationalized the zonal offices with delegated functions and set targets for all departments and standing Committees. For example, the Book Development Committee which last published books in 2014 has been directed to publish at least 40 standard, peer-reviewed academic textbooks on diverse topics by 31st December, 2022. The Monitoring & Evaluation Department must complete site visits and process recommendations for tranche releases within 2 weeks of receipt of request from institutions. Starting with ICT interventions, beneficiary institutions shall henceforth make submissions electronically (Online) to minimize human contact. Staff of the Fund were also requested to make sacrifice by forgoing certain privileges in response to the sharp drop in tax collections in 2021, with a promise that they will be restored when the situation improves. He is also committed to the completion of on-going projects rather than starting new ones, and has taken steps in that direction. He interacted and secured the buy-in of Management and Staff of the Fund for the reforms, which have received widespread support of stakeholders.
Perhaps more problematic are the Procurement and Project Management reforms introduced to eliminate corruption, reduce delivery time of projects, prevent cost escalation and improve general efficiency in the discharge of the Fund’s mandate. Under the new dispensation, all projects to be executed by the Fund are to be planned, packaged and selected by the beneficiary institutions for review and concurrence of the Fund. No more TETFund or vendor promoted projects, as the needs of the institutions shall prevail.
Annual disbursement allocations were made directly to the beneficiary institutions at a public ceremony held at the National Universities Commission (NUC) on 9th May 2022. The Vice-Chancellors, Provosts and Rectors were directed to advertise and procure their projects through open,competitive bidding to achieve value for money. This was widely reported in the media and commended by the Procurement Professionals Association of Nigeria along with the threat to punish erring contractors who delay project execution or deliver poor quality jobs. Hardly the stuff of a wheeler and dealer.
It is therefore laughable that these measures are being described by some aggrieved vested interests as “unwholesome practices”. Equally instructive is the fact that TETFund is not a contract awarding agency on behalf of beneficiary institutions so the reference to contract splitting and padding are totally baseless and incomprehensible. The design and costing of projects are done by the respective institutions. So also is the supervision and management. TETFund only monitors milestones attainments ahead of releases in tranches.
To allege that someone who publicly distributed allocation letters “is in the habit of asking for advance payment in dollars before grants are given” is standing truth on its head. It is on record that since resumption of duty, Arc Echono has not personally issued any grant or letter to any beneficiary institution but rather through technical departments responsible for each intervention area. It is indeed cruel to insinuate that Vice Chancellors will be happy to meet the monetary demands without complaining; and the same Vice Chancellors will be instructed to award the contracts to anointed contractors. When people are consumed with evil and hate, logic departs. It is noteworthy that no institution or Vice Chancellor was cited to buttress or corroborate this callous claim. Is anybody hurting? Why?
Equally curious is the allegation that Arc Echono has a list of anointed firms that execute TETFund projects, yet the author failed to mention even one of them for fear of rebuttal. It was even asserted that his control of TETFund contracts preceded his appointment judging from the singular example of a twin lecture theatre in a University in Southern Nigeria. Sahara reporters should find the courage to mention the institution so that serious minded investigative journalists can unearth the truth and debunk the fat lies. The suspicion is that since 2022 allocations were only made recently in May and the projects are still being packaged and prepared by the institutions, it will be difficult to sustain any allegation under his recent tenure. Solution? Back date the allegations.
Brilliant though incomprehensible attempts were also made to make a link as well as draw parallels with an alleged phantom contract scam at NECO some years back. What Sahara reporters did not say is that those allegations were thoroughly investigated by five (5) different anti-corruption and regulatory agencies and not a single one of them even mentioned, let alone, associated Arc Echono with any allegation of wrongdoing or misdemeanour. In fact, neither Arc Echono as Permanent Secretary nor the Federal Ministry of Education’s Ministerial Tenders Board approved any contract for NECO throughout the period and not a single contractor with NECO was associated or linked to him in whatever form. In fact, Arc Echono met and recognized Mr. Ibrahim Peter Alih for the first and only time at Jalingo, Taraba State at the close of the 2021 National Council on Education Conference, more than one (1) year after the allegations were made. So much for relation (not even from the same State), front and tacit support. Yet Sahara reporters chose to rubbish the reputation and character of an individual without an iota of evidence or proof.
The allegation of lobbying powerful Vice Chancellors to facilitate his appointment betrays further ignorance of how such appointments are made and does not merit further comment. It is however unfortunate that the sacred duty of the fourth estate of the realm (media) to hold institutions and public officers accountable has been misappropriated for lucre and as a weapon for slander, libel and character assassination in this particular case. Equally tragic is the fact that a once credible and respected medium has reduced itself to a purveyor of falsehood and trash.
It is instructive that some of the measures introduced have led to stepping on many toes of individuals and firms whose services were considered not necessary, wasteful or lacking in value, and have had to be disengaged/discontinued. The public may therefore expect further false allegations with maximum prejudice.
We seize this opportunity to reassure our stakeholders and the general public that TETFund is being run with a deep sense of responsibility. The Executive Secretary remains committed to providing quality, accountable and exemplary leadership and will not be distracted in any way whatsoever, by such unfounded allegations.
Digital media expert and author, JJ Omojuwa, has stated that the grass-to-grace story of a mercurial businessman, philanthropist, and one of Africa’s richest men, Dr. Mike Adeniyi Adenuga Jr, is a blockbuster movie waiting to be produced. From oil and gas to telecoms, philanthropy, and banking, Adenuga, has carved a niche for himself.
He has demonstrated a superior model of doing business with his entrepreneurial grit and has become a source of inspiration to many Africans. In a series of tweets last Monday evening, Omojuwa responded to a thread of tweets by another Twitter user, Tunde Omotoye (@TundeTASH), about how Adenuga rose from being a struggling migrant taxi driver to becoming one of Africa’s richest men.
Omotoye wrote on Twitter: “Read the story of one of the billionaires in Africa and never knew he drove a taxi in New York to pay for his tuition. There’s always this tenacity with immigrants, but loved how he looked for opportunities to add value when he returned home.
And it all paid off. He was even a security guard as well? You have to give it to Mike Adenuga. Honestly, I never knew this side of him. But I knew someone who could build a telecoms giant like Globacom and other conglomerates has to be a real ‘Bull’ in nature.”
Omojuwa acknowledged that while much had been written about Adenuga’s net worth, so little is really known about him and what he’s truly worth. He, therefore, suggested that the best way to celebrate him and further inspire Nigerians is a movie focusing on the businesses he built and the impact he made through them.
“Inspiring thread,” Omojuwa wrote. “Mike Adenuga’s story would make for a great movie. And whatever Forbes says he is worth, multiply by 5”.
Omojuwa also noted that the Forbes Model for determining the rich list may not necessarily work for Africa because wealth is built differently. Recall that in April 2022, Forbes released its annual World’s Billionaires List for 2022. This year’s list ranks 2,668 billionaires worldwide, with Nigeria’s Aliko Dangote and Mike Adenuga ranked 1st and 2nd richest Africans respectively.
According to him, “The Forbes model is overly reliant on stocks and hardly, if ever, moderate their calculations with debts, just stocks as the primary and often times only arbiter. Wealth in Africa plays differently. They need to have the prevailing culture and norms moderate their strategy.”
It now behooves a Nigerian filmmaker to act on Omojuwa’s suggestion and create a movie on Adenuga’s life and career journey.
Two Nigerian Fintech tycoons, Eghosasere Nehikhare and Bukunmi Olufemi Demuren, and another Nigerian, are under probe in Kenya for a string of suspicious transfers of $221 million (N128 billion) from Nigeria. In local currency, the money is worth Kenya Sh25 billion.
Nehikhare is the founder of Boltpay, while Demuren is the founder of Multigate Limited. Interpol seeks to unravel the puzzle of Sh25bn ‘laundered’ from Nigeria, Kenya’s Nation Newspaper reports. Investigations reveal that money was wired into Kenya from Nigeria between October and November 2020. For more than two months, Kenyan authorities have been investigating the string of cash transfers from Nigeria without realising that they may hold the key to unlocking the whereabouts of Sh20 billion at the centre of local and international suspected money laundering rings. A source privy to the matter has since confidentially disclosed that three Nigerians suspected to enjoy the backing of a powerful Kenyan politician and two Kenyans wired the cash in US dollars and Euros to Kenyan banks through multiple companies registered locally with shared ownership and suspect addresses. Court papers indicate that the Assets Recovery Agency (ARA), which is investigating three companies over Sh5.6 billion — a quarter of the actual amount that entered Kenya — does not know the magnitude of its probe. On April 5, ARA obtained court orders freezing Sh5.6 billion in six bank accounts, but its investigators are unaware that the network of firms and individuals had moved another Sh20 billion through local lenders in one month in 2020. An ARA officer on Tuesday confirmed that the agency was only aware of the Sh5.6 billion frozen; it has no details of an Interpol investigation first revealed by Business Daily.
The local daily on Tuesday revealed that a network of six firms — OIT Africa, Avalon Offshore Logistics, RemX Capital Ltd, RemX Ltd, RemX Investment Partners and Multigate Ltd — moved Sh25.6 billion from Nigeria to Kenya before wiring some of the funds to countries in Europe and Asia.
Despite confirming that ARA has yet to interrogate shareholders of the companies, the officer insisted that its investigations are ongoing and could see some of the suspects charged with money laundering and other economic crimes.
The source of the funds has puzzled local and international sleuths, who are trying to find the origin.
The Nation established that Interpol’s investigation hit a brick wall, as it would need to cooperate with Kenyan and Nigerian authorities to determine when, how and why Sh25.6 billion was moved between the two countries.
The information sought by Interpol would require obtaining bank statements of all accounts where the suspect loot was stashed or moved from. ARA’s lack of knowledge of the actual amount moved to Kenya in 2020 indicates that there is no cooperation with the agency and Interpol.
Directorate of Criminal Investigations (DCI) boss George Kinoti did not respond to queries on whether his agency was investigating the suspected money laundering racket.
Two Nigerian financial technology tycoons with a history of using tax havens to avoid taxes are at the centre of investigations by ARA and Interpol. Boltpay founder Eghosasere Nehikhare and Multigate Limited founder Olubukunmi Olufemi Demuren could have started the global movement of billions from Lagos, ownership documents from the Companies’ Registry in Kenya show.
Mr Nehikhare is a graduate of the University of Oxford in the UK and is the CEO of Multigate Ltd, while Mr Demuren earned a chemical engineering degree from Cooper Union University in the US. Mr Demuren is the board chairman of Multigate Ltd.
Mutligate and RemX are among companies registered in Kenya, Dubai and Nigeria and which are at the heart of the money transfers.
So far, Kenyan authorities have traced and frozen Sh5.6 billion, pending conclusion of the investigations. The money is in six bank accounts owned by three companies.
However, investigators have so far frozen accounts of three firms — Avalon Offshore Logistics Limited, Oit Africa Limited and RemX Capital Limited. They are the owners of the accounts deposited with the money.
Two bank accounts of Avalon Offshore Logistics Limited held at Equity Bank are holding $374,630 (Sh43,408,490) and €3,824.66 (Sh472,809), suspected to be proceeds of crime.
OIT Africa’s three bank accounts held at Equity and United Bank for Africa (UBA) are holding a total of $41,715,444 (Sh4,833,568,496), while Remix’s account at UBA is holding $6,648,838 (Sh770,400,859).
ARA, in court papers, claims the money was wired to six accounts held at Equity Bank and United Bank of Africa (UBA).
Through Principal State Counsel Mohamed Adow, the agency says the amounts were a culmination of suspicious credits from various suspicious sources and conducted suspicious transfers and withdrawals.
ARA says that on February 11, it received information on suspected money laundering schemes and acquisition of proceeds of crime involving multiple cash transactions conducted through the bank accounts of the three companies.
The money was from a foreign country and the source has no legitimate explanation involving the companies and their agents. “The companies are suspected to be part of a syndicate involved in a complex money-laundering scheme involving themselves and foreign nationals.
“The bank accounts of the companies are used as a conduit for complex money laundering,” says ARA.
The preservation order Justice Esther Maina issued bars the three firms, their employees, agents, servants or any other persons acting on their behalf from transacting, withdrawing, transferring or dealing in any manner howsoever with any profits or benefits derived or accrued from the funds.
A search at the Registrar of Companies revealed that RemX Capital directors are John Kisilu Kamusina and Evalyne Wawira Gachoki.
Avalon Offshore directors are Nigerians Jeffrey Nnaoma Michaels and Uduma Okoro Christopher Kalu.
OIT Africa directors are Vionnah Akoth Odongo and Kenneth Odongo Raminya. Multigate Limited directors are Olubunmi Akinbanjo Akinyemiju, Nehikhare Eghosasere and Demuren Olufemi Olukunmi.
The Unprecedented story of Dr. Oluwatosin Olatujoye.
Dr. Oluwatosin Olatujoye is a serial entrepreneur, building magnate and financial expert with over 10 years’ experience in finance. He's the current chairman of Zylus Group international. Zylus Group International is a privately owned and internationally recognized conglomerate with interests in Real Estate Investment, Property Sales, Human Capital Development, Agriculture, Infrastructure and General Construction, Property Valuation, Designs and Printing, Media, Transport and Logistics, Traveling and Tours, Property Management, Financial Services and many more.
Zylus Group International is the parent company of "Oga for Property" a company he founded in 2018 which has today metamorphosed into Zylus Homes and Property Limited. It also house subsidiaries such as Zylus Investment Limited, Zylus Transport and Logistics Limited, Zylus Property Development Limited, Zylus Travels and Tour Ltd, Zylus Designs and Prints Ltd, Zylus Media Hub, Zylus Multipurpose Cooperative Society, Zylus Farmvest Ltd; Zylus Property Management Ltd and Zylus Advertising Agency Ltd.
Among his numerous educational qualifications, Dr. Oluwatosin also studied Accounting at Lagos State Polytechnic in 2009. He is an alumnus of the School of Estate, where he learned the fundamental and comprehensive aspects of Real Estate. He earned himself a certificate in entrepreneurship from the Metropolitan School of Business and Management, UK. Dr. Oluwatosin Olatujoye is a fellow of the Institute of Credit Administration. He has attended and participated in numerous local and international seminars and summits in his quest for greatness.
He started his career as a sales representative at American International Insurance Company (AIICO) in 2007 where He began his journey and rose up the ladder to become a branch manager with over 13 years’ experience.
Over the years, he has acquired skills that have been instrumental to the growth of his career. Being an astute entrepreneur, he has about two decades of Sales and Marketing, Negotiation, Public Speaking, Management, Human Resource; Project Management, Development, Sales, and Marketing experience. He also carried out various researches to learn about the Real Estate industry and came up with solutions to solving the housing deficit problems in Nigeria.
Hence, due to his vast research, he founded Zylus Group International and as a real estate expert, Oluwatosin Olatujoye has tireless pursued his vision to help individuals own a classy, modern, luxurious yet affordable homes. This is ultimately targeted at aiding the government's effort in addressing housing deficit in Nigeria. Under his leadership as the Chairman of Zylus Group International, Zylus Homes have successfully developed over 16 estates in Nigeria that is Lagos, Ogun, Enugu, and Abuja while the mandate is to develop estates in all states in Nigeria.
In recognition of his contribution to the society at large, he has won prestigious awards like; ATICO's Best Unit Manager (2016), AIICO Top 10 Agency Manager in Revenue (2017), Nigeria Achievers Award (2020), Top 50 Entrepreneurs in Nigeria, Icon of Humanity Award, and Nigeria Property Merit Awards. As a young, dynamic and youth entrepreneur, he was named the West Africa Man of the Year by ECOWAS Youth. As recognition of his contribution to the industry within a limited time, Dr. Oluwatosin was recently recognized with the Under40 Ceo Award,the Next Bulls Award, (2021) by Business Day, and City People Real Estate Award.
He is a member of several professional bodies including the Project Management Professional Institute (PMPI), International Strategic Management Institute (ISMI)-UK. Over the time, he has acquired himself several certifications, Among which are; Professional Post-graduate certificate in Real Estate & Asset Valuation Management, Proficiency in Human Resources Management, Certified International Strategic Management (CISM), Proficiency in International Strategic Management (PISM) and Certificate in Entrepreneur Management (CEM), by Enterprise Development Center, PAN Atlantic University & Lagos Business School, he is also a member of the Nigerian-British Chambers of Commerce.
Dr. Oluwatosin Olatujoye is a philanthropist and a devoted humanitarian, he has keen interest in giving back to society; raising help for the needy and youth capacity development. Under his leadership, his company, Zylus Group International carried out several Community Social Responsibility initiatives during the first wave of the COVID-19 pandemic. Through his foundation: Oluwatosin Olatujoye Foundation, he has contributed to feeding over 1000 less privileged in Abeokuta, Lagos, and Oyo respectively.
Value Exchange Platform is a platform that brings to society a first-of-its-kind experience. It seeks to restore values to society by rewarding things/acts of value. VEP rewards good deeds, it is created to remind people of the importance of morals and values in society and also to encourage people to be morally upright, thereby creating a community of morally upright individuals with regard for values. VEP further provides a Platform for trading amongst members, it provides a rating system that recommends several beneficial options to its members based on each member’s value rating.
With recent developments in social media, peer-to-peer software, and smartphone technology, we have seen the definition of money extend beyond the traditional, physical tender of government-backed currencies to include mobile payments, digital currencies, and virtual goods. Joining this revolution of payment technologies is VEP, “the world’s first completely decentralized digital gold.
VEP is powered by honesty and that will be the standard for evaluation. VEP will serve individuals, corporations, businesses, etc. by granting them access to services based on their honesty rating. VEP could be easily misunderstood, as one could say “is this not playing God? as only God can reward a man for being good” look at VEP as an instrument to understand the premium value principles behind God's laws on upright morals.
VEP would be backed by a currency of its own known as DG (Digital Gold), which is the equivalent of actual Gold and can be exchanged for any other fiat, at the prevailing market price of Gold. Thus, trading on VEP would also be done with DG, rewards will be received in DG, payments in and out of the platform would be in DG. The plan is to encourage people who have chosen to be upright or have chosen good over evil to continue through the reward program.
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