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A Bitcoin company in Calabar, Cross River state has disappeared into thin air with millions of Naira of customer’s money, The Guardian report. As early as 8am on Friday, customers besieged the company’s office on Bassey Duke only to discover that the company had closed shop and vanished with their money.

According to The Guardian, several phone calls were made by the customers but no response from the company officials that started operations about two months ago, collecting money from customers and giving them a whooping 30 percent extra after seven days online trading.

As at on Friday, over 1000 people who were expecting their monies, broke into the offices and carted away any item they could lay their hands on as little compensation for their investment.

The entire premises of the company that occupied few rooms in the Bassey Duke shopping mall was taken over by frustrated customers and one of them who gave his name as Ifeanyi said, “This is things fall apart. I put in over N2.5million and now everything is gone.”

Another customer, who cried profusely, claiming he put in N5 million said, “I saw people collecting 30 percent interest after one week that is why I also put in money. A huge part of the money I put in was even borrowed”.

Some National Youth Service Corps (NYSC) members also invested and one of them said she put in N1.5 million and it was all her money in the world.

Another corper who put in N150, 000, said, “That money was all the money I saved in this my service year. This is painful, I thought I could do ‘business’ and help myself and my poor family”

It was gathered that thousands of people invested in the scheme, as someone told The Guardian, “The crowd you are seeing today are just a few that have come to get their money. They made millions and disappeared with our money. I don’t know why we would never learn. MMM and the likes that promises quick profit have duped us in the past, yet we keep falling for them, including me. I put in N500, 000 into this one and now see my money has gone down the drain.”

The situation caused an atmosphere of pandemonium and some soldiers who arrived in the afternoon fired several shots in the air to disperse the people but they kept coming.

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BUSINESS

Zenith Bank Dominates Trading On NSE

Gbemileke Ajayi

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Zenith International Bank on Wednesday dominated the activity chart on the nation’s bourse, accounting for 64.04 percent of the total volume of shares traded.

The News Agency of Nigeria (NAN) reports that the bank sold 288.27 million shares valued at N6.68 billion.

Consequently, investors bought and sold 450.14 million shares worth N9.39 billion achieved in 2,858 deals, representing an increase of 200.79 percent.

This was in contrast with a turnover of 149.65 million shares valued at N2.79 billion transacted in 3,063 deals on Tuesday.

Further analysis of the activity chart shows that FBN Holdings came with an exchange of N40.95 million shares worth N303.49 million.

Guaranty Trust Bank traded 33.74 million shares valued at N1.26 billion, while FCMB Group transacted 11.24 million shares worth N18.56 million.

Access Bank sold a total of 9.39 million shares valued at N74.14 million.

However, the market indices recorded marginal loss, dropping by 0.14 percent due to price depreciation.

Specifically, the All-Share Index dipped 45.73 points or 0.14 percent to close at 32,108.30 against 32,154.03 recorded on Tuesday.

Also, the market capitalization which opened at N11.738 trillion shed N16 billion or 0.14 percent to close at N11.722 trillion.

Seplat topped the losers’ chart, dropping by N2 to close at N638 per share.

Lafarge Africa trailed with a loss of N1.70 to close at N15.70, Presco declined by N1.25 to close at N64.50 per share.

Dangote Sugar Refinery depreciated by 45k to close at N13, while Guaranty Trust Bank shed 25k to close at N37.05 per share.

Conversely, Nigerian Breweries led the gainers’ table, growing by 50k to close at N81.50 per share.

Fidson followed with a gain of 40k to close at N4.90, while Redstar appreciated by 30k to close at N4.50 per share.

United Bank for Africa added 20k to close at N8, while Zenith Bank increased by 15k to close at N24 per share.

 

(NAN)

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Advertorial: Get 50% Discount On UBA Prepaid Card

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Get 50% Discount On UBA Prepaid Card

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BUSINESS

Union Bank’s Edu360; Fostering New Collaborations and Partnerships In Education

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Union Bank recently held the first edition of its annual education fair, edu360 in Lagos, drawing stakeholders from across the education ecosystem including teachers, parents, school owners, investors, students and other key participants.

The event tagged “Investing in the Future”, took place at Harbour Point in Victoria Island and served as a platform for collaboration among the education sector stakeholders, with the goal of accelerating development and much-needed investment in the sector.

Speaking at the ceremony to mark the kick-off of the 2-day event, the Chief Executive Officer of Union Bank, Emeka Emuwa reiterated the Bank’s focus on education as a key driver of national development.

He said; “Edu360 is positioned to be the leading education platform in Nigeria, facilitating collaboration among stakeholders within the sector. We firmly believe that the private sector, working closely with the government and other stakeholders, can play a critical role in fast-tracking solutions to move the educational sector forward.

At Union Bank, we are committed to identifying sectors that are vital to shaping a better, sustainable future for Nigerians.”

The Bank’s Head of Commercial Banking, Adekunle Sonola and other members of the Board of Directors were also in attendance along with Nigeria’sfirst female Minister of Industry, Chief (Dr.) Mrs. Nike Akande; the Minister of Education, represented by the Vice Chancellor of the University of Lagos, Prof. Oluwatoyin Ogundipe and the Governor of Lagos state represented by his Special Adviser on Education, Mr. Obafela Bank-Olemoh.

While delivering the keynote address, Dr. Modupe Olateju-Adefeso, Managing Director of The Education Partnership (TEP) Centre spoke extensively on the linkages between and education and national development, drawing examples from the health sector.

Over200 teachers from government and private owned schools benefited from free training sessions as part of Union Bank’s drive to upskill the workforce of the important sector. The teachers also received free teaching aids to support their teaching efforts.

There were also digital training sessions for parents and children courtesy Google in addition to Coding and Robotics classes. The fair also featured private workshops and seminars to address sensitive issues concerning raising well-adjusted children in today’s world.

Speakers at the panel discussions included Olympic gold medallist, Enefiok Udo-Obong; award-winning actress, Bikiya Graham Douglas; Special needs advocate, Angela Emuwa; Consultant psychiatrist, Dr. Yewande Oshodi and popular Nollywood actress and Producer, Kemi ‘Lala’ Akindoju

Over 70 exhibitors and partners including Google, Lego, Sage, Nestle, Simpli Foods, as well as leading schools in and around Lagos participated in the 2-day exhibition to showcase their goods and services.

Union Bank remains committed to supporting Nigeria’s growth by identifying and investing in sectors that are vital to shaping a better, more sustainable future for generations to come.

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