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REDAN Leadership Visits Adron Homes, Commends Efforts Of Real Estate To Nigeria’s GDP [PHOTOS]

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The President of the Real Estate Development Association of Nigeria (REDAN), Prince Akinloye Adeoye, along with his Executive team, which consist of Dr Kunle Adeyemi, Vice President, REDAN(South/ West) and Mr Jide Ogunleye, REDAN Secretary visited the Chairman and Group Managing Director of Adron Homes and Properties, Aare Adetola Emmanuel King, at the company’s headquarters in Omole Phase 1, Lagos.

During the courtesy visit, the team headed by Prince Akinloye applauded Adron Homes and Properties for its efforts in providing affordable housing schemes and praised the company for consistently bridging the gap between the masses and affordable urban development. Prince Akinloye also commended Adron Homes for transforming many individuals from tenants to landlords, emphasizing the company’s transparency, commitment, and reliability which has set a positive example for other real estate brokers in Nigeria.

He highlighted the significant contribution of the real estate sector to Nigeria’s GDP, citing statistics from the Nigeria Bureau of Statistics for Q1 of 2024. He stressed the need for the government to uphold development standards, enhance industry regulations, and eliminate unethical practices in the real estate business. According to the Nigeria Bureau of Statistics, the real estate sector contributed N11.2 trillion, representing a 5.20% share of the GDP in Q1 of 2024. Although the sector showed nominal growth compared to the previous year, its real GDP growth was lower at 0.84%. He also disclosed that 11 trillion is more than enough to prove that real estate business in Nigeria is a lucrative business that has come to stay and also implored the government to remain committed to upholding tenets of development and enhancing regulation of the industry to meet global practices and also make quackery in the business a thing of the past.

“The construction sector contributed 4.0% to the GDP, with a nominal growth of 10.24%, though it experienced a real growth rate decline of -2.14% year-on-year. Experts attribute this growth to increased government policies and investments, growing population demands for shelter, and significant contributions from the Nigerian diaspora.”

The Host, Aare Adetola Emmanuel King also commended the effort of the REDAN President and his team for their listening ears and also their constant proactive steps to ensure the industry is well regulated and all ethics of the industry is upheld. He also disclosed that Adron Homes will always be in partnership with the leadership of REDAN and will remain committed and continue to serve as an example to other real estate players on the issues of integrity and sincerity of purpose. He also disclosed that the visit will further rejig Adron’s commitment to more development of Homes and also continued partnership with the government to ensure affordable homes get more handy for all sundry.

Aare Adetola also implores the leadership of REDAN to enact more policies that will further put the business on a high pedestal which will enhance more funding, more investment through Foreign Direct Investment and also getting government support in the reduction of building materials and other household items which is currently serving as a bottleneck for the development of the business which has caused many Real estate companies to fold up, while some have started cutting corners due to high rates of materials.

“When materials are quite affordable, real estate will thrive. There would be buyers and off-takers. But with the current prices of cement, wood, nails, paints etc the prices of real estate are soaring high to the roof Government intervention and reducing tariffs on the importation of building materials will help cushion the effect and also put many back in business. Adron Homes and Properties is committed and we are here for collaboration for naional development.”

BIG STORY

“Twin Warrior”: Paul Okoye Accuses Peter Of Song Theft, Vows To Release ‘Original Version’

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Paul ‘Rudeboy’ Okoye, the Nigerian singer, has accused Peter ‘Mr P’ Okoye, his twin brother, of alleged intellectual property theft.

Mr P recently released the single ‘Winning’ — just a few months after the brothers confirmed that Psquare, their shared music group, was no longer active.

However, in a recent Instagram post, Rudeboy claimed that the song was his, stating that it was meant to feature on his upcoming album. He further alleged that the producer hijacked the track.

“Written and sang by Rudeboy. Produced by same producer. Now how come? Now am I supposed to release another version? Mr Producer, your case is for another day,” he wrote.

“Just a simple thing, bring 6 songs, let me bring 6 songs. I submitted 6 songs to the so-called management. Why re-singing my own song? word for word. Song that was supposed to be in my album next year June.”

In another post, the singer vowed to release “original versions of any copied songs,” adding that “the days of manipulation are over.”

“The days of manipulation are over. And to the management, make I hear any song wey na only me sing, I go release the original version. Oloriburuku! Music is not that hard,” he wrote.

Psquare split in 2017 following a feud between Peter Okoye and Paul. Though they reunited in November 2021, their reconciliation was short-lived.

Paul recently revealed another fallout, accusing Peter of orchestrating his arrest by the Economic and Financial Crimes Commission (EFCC).

Peter, however, denied the allegations and accused Jude Okoye, their older brother, of diverting millions of dollars from their joint account into a secret company.

Paul also expressed frustration over his past role in the music group. He claimed to have done most of the work while others benefited.

Mr P has yet to respond to his brother’s recent allegations.

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US Court Sends British-Nigerian To Seven Years In Jail Over $5m Cyber Fraud

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Oludayo Adeagbo, a British-Nigerian, has been sentenced to seven years in prison for his role in a multimillion-dollar business email compromise (BEC) scheme.

According to the US Department of Justice, Adeagbo, who also goes by John Edwards and John Dayo, conspired with others to steal over $3 million from various entities in Texas, including local government bodies, construction companies, and a Houston-area college.

Adeagbo and his co-conspirators also defrauded a North Carolina university of more than $1.9 million.

The case began in August 2022 when Adeagbo and two other Nigerian citizens, Donald Echeazu, 42, and Olabanji Egbinola, 44, were extradited from the United Kingdom (UK), where they had been residing, to face charges of conspiracy, wire fraud, and money laundering.

The US Department of Justice stated that the offences were committed in North Carolina, Texas, and Virginia.

On April 8, Adeagbo pleaded guilty in two cases against him in North Carolina and Texas for participating in a business email compromise scheme, which is also referred to as a “cyber-enabled financial fraud” scheme.

A business email compromise scheme can be initiated by scammers creating fake accounts that mimic companies a business regularly deals with.

Court records revealed that Adeagbo and his co-conspirators gathered information about significant construction projects across the United States, including a multi-million-dollar project at a university in North Carolina.

“To execute the scheme, Adeagbo, Echeazu, and others registered a domain name similar to that of the legitimate construction company in charge of the university’s project and created an email address that closely resembled that of an employee of the construction company,” the Department of Justice said.

“Using the fake email address, the fraudsters deceived and directed the university to wire a payment of more than $1.9 million to a bank account controlled by an individual working under the direction of Adeagbo and his co-conspirators.”

Adeagbo and his co-conspirators employed the same tactics in Texas, targeting local government entities and universities by impersonating construction companies. They stole over $3 million from the scheme, bringing their total haul to $5 million.

Adeagbo has been ordered to pay $942,655.03 in restitution and will serve seven years in prison.

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Nigerian-American Oye Owolewa Re-Elected To US Congress

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Oye Owolewa, a Nigerian-American Democrat, has been re-elected as the shadow representative for the District of Columbia (DC).

Owolewa, a PhD graduate from Northeastern University in Boston, made history in November 2020 when he became the first Nigerian-American elected to Congress.

He secured 164,026 votes, or 82.84 percent of the total votes cast in DC.

His role, while not officially recognized by the US government as a full member of Congress, is to advocate for the district’s interests, particularly its bid for statehood.

On Thursday, Owolewa expressed his gratitude to DC voters via a post on X, thanking them for their continued support.

“Thank you DC again for giving me chance to serve. I also want to thank the organizations that have supported, partnered with and endorsed me,” he wrote.

While shadow representatives like Owolewa do not have voting power in the US House of Representatives, they play a key role in pushing for recognition and state-level advocacy for DC residents, who are otherwise disenfranchised at the federal level.

Owolewa has consistently championed the cause of DC statehood, which has become a central focus of his work.

The re-election took place on November 5, the same day as the US presidential election.

In that election, former President Donald Trump defeated Vice-President Kamala Harris, securing over 270 electoral votes to win a second term.

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