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The Special Anti-Robbery Squad (SARS) of the Oyo State Police Command has arrested a Beninese chef, Mathew Kudjo, 25, for allegedly stealing $59,000 and N3.4 million belonging to his boss in Ibadan, the state capital.

Police Commissioner Abiodun Odude spoke three days ago in Ibadan, the state capital, while parading Kudjo and other suspects.

The police chief said Kudjo was arrested in his hideout in Ibadan after breaking into his employer’s apartment at Ikolaba in Ibadan to steal the money.

He said: “The suspect, on December 12, 2016, betrayed the trust of his master. After successfully carrying out the criminal act, the suspect perfected sinister plan to abscond abroad with the loot, but through intensive investigation coupled with high level intelligence carried out by the Special Squad, the suspect was arrested before he could escape to the United States of America (U.S.A), having procured an international passport, a U.S.A visa and other travel documents with which to travel out of the country.

“Upon interrogating the suspect, who was remorseful, confessed to the crime. He disclosed that he had built an edifice in his home country, Benin Republic, with part of the ill-gotten money. Part of the stolen money and other exhibits were, however, recovered from him.”

Exhibits recovered from the suspect included N1.5 million, one international passport and other travel documents.

Kudjo said he was able to steal the money when his boss went to play golf in the club.

He said part of the stolen money has been used to build a house in Benin Republic and he has started planning to relocate to US before he was caught by the police.

Eight exotic cars were allegedly recovered from a gang of robbers who allegedly snatched exotic cars from their owners at gun point in Ibadan.

Suspects arrested are: Afolabi Shodipe (32) criminal receiver, Dokun Adewusi (42), Adebayo Abolade (34), Olaseni Bakare (40).

Also, Exhibits recovered from them are: One Toyo Corrola, one Toyota 4 Runner jeep, Mercedes Benz bus, one Toyota Camry saloon, one Honda Accord saloon, Mercedes Benz C-240, and one Toyota Corolla.

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BREAKING: EFCC Declares Yahaya Bello Wanted [PHOTO]

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Yahaya Bello, the former governor of Kogi state, has been declared wanted by the EFCC.

He reportedly evaded arrest yesterday when the commission visited his home to enforce arrest.

More to come…

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Hydrogen, CCHub Partner To Encourage Fintech Startup Success

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As the country faces economic challenges, the need for adaptive strategies in the fintech industry becomes paramount. In line with this, leading fintech startup Hydrogen Payment Services Limited (‘Hydrogen’) has teamed up with Co-creation Hub (‘CcHub’) to host an insightful event themed ‘Adapting Fintech Business Models to Economic Climates’.

The event is set to take place on Thursday, April 18, 2024, from 12:00 a.m. WAT at the CCHub office in Sabo, Lagos, will delve deep into the intricacies of Nigerian economic challenges and how these influence the fintech ecosystem. Participants will gain actionable insights on how to adapt fintech business models to volatile economic conditions by prioritising flexibility, agility, and customer-centricity.

This collaboration underscores the shared commitment of both entities to empower aspiring founders venturing into the fintech space amidst economic uncertainties. By leveraging their respective expertise and resources, Hydrogen and CcHub aim to equip
emerging entrepreneurs with the knowledge, tools, and support needed to thrive in today’s dynamic economic conditions.

Emeka Awagu, Chief Technology Officer at Hydrogen, commented on the strategic partnership with CcHUB: “Our alliance with CcHUB amplifies our shared commitment to pioneering transformative solutions in the Nigerian fintech sector. By leveraging Hydrogen’s technological expertise alongside CcHU’s innovative approach, we are primed to set a new standard for fintech excellence and drive impactful change across the industry.”

The event will feature a distinguished panel of industry experts and thought leaders. including Ina Alogwu, Group Director, Digital Transformation, ARM HoldCo; Emeka Awagu, Chief Technology Officer, Hydrogen; and Miracle Ezechi, Digital Marketing Manager, Hydrogen.

The panel discussion will be moderated to encourage an engaging and insightful conversation on the strategies and innovations required to thrive in the Nigerian fintech landscape amidst economic challenges.

Interested attendees are encouraged to register here and reserve a spot.

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ECONOMY: CBN Not Using Foreign Reserves To Defend Naira — Olayemi Cardoso

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The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, asserts that the nation is not defending the value of the naira with its foreign reserves.

He made this known on Wednesday in Washington, DC, where he is attending the International Monetary Fund-World Bank Spring Meetings.

Cardoso said $600 million came into Nigeria’s reserves account within the last two days.

The naira has appreciated against the dollar in recent weeks, gaining over 40%, from about N1,900/$ to about N1,000/$1 now. But while the naira rebound, Nigeria’s foreign reserves are dwindling, dropping to about $32.29 billion on April 15 — the lowest level in over six years.

Cardoso said, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where for example, debt is due and certain payments need to be made because that is also part of keeping your credibility.

“Other times money comes in, it takes it up again. Between yesterday and today, about $600 million came into the reserves account. We are looking towards a market that operates by itself, willing buyers, willing sellers and price discovery.

“The shift in our reserves has really little or nothing to do with defending naira and that is certainly not our objective.”

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