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Otedola: Another Good Man Is Gone!



A particular dictionary simply defines philanthropy as charitable giving to human causes on a large scale. Philanthropy must be more than just a charitable donation; it is an effort undertaken by an individual or organization based on an altruistic desire to improve human welfare. Wealthy individuals sometimes establish foundations to facilitate their philanthropic efforts. In Nigeria, we have never really fallen short of wealthy individuals with philanthropic inclinations. The late Sir Mobolaji Bank Anthony and the late Chief MKO Abiola are names that readily come to mind in this regards. Perhaps, one living example is the Ibadan-based Chief Mufutau Olanihun, whose philanthropic gestures were so unbelievable that his people nicknamed him ‘Olowo ti n fowo sanu’ (literarily meaning the wealthy man who displays mercy with his money). People may have internal or external reasons for behaving charitably. One external incentive by some people to give is to curry recognition. In our clime, people with political ambition often veer into philanthropic ventures as an end to a means. People, whose moral values are more internalised, do not need the promise of present or future recognition to be motivated to give. Real philanthropists are buoyed by their deep or inner satisfaction of impacting on the lives of their beneficiaries. Others venture into philanthropic activities because of their horrid experience with poverty. The late Chief MKO Abiola belongs to this class. He was humbled by his poor background and was, therefore, determined to help as many poor people he could to get out of the shackles of poverty which he regarded as, perhaps, the greatest enemy of mankind. For others, especially philanthropists who never experienced poverty, sheer compassion is their main motivation. They are influenced mainly by the love for mankind and the desire to give back to the society. Sir Michael Otedola, who recently passed on at the age of 88, belongs to this class. A man whose philanthropy is legendary just as his devotion to serving humanity and God was un-wavering, touched and impacted on many lives before he bid the world farewell on the 5th of May, 2014. Though born into a Muslim family at the modest Odoragushin community of Epe Area in 1926, Sir Otedola refused to be carried away by his success later in life. With his humble beginning always in his consciousness, he had since 1985, committed his resources to the Michael Otedola University Scholarship Awards Foundation for indigent students of Epe Division in particular and Lagos State in general. Since inception, over three hundred indigent students have benefited from the scheme to become Lawyers, Engineers and Doctors etc. They have now become useful to themselves and the society. Most of them would readily tell people that Sir Otedola was the angel that God sent to them to give meaning to their lives. Just think about many prospective professionals who are now wasting away in different parts of the country because they couldn’t fulfil their dreams as a result of poverty, then you will appreciate an individual who commits his resources to the training of other peoples’ children. Sir Otedola’s decision to establish the scholarship awards foundation was borne out of his determination to give back to the society that offered him the platform or springboard to achieve his goals in life. He left his native Epe very early in life for Lagos city centre in pursuit of education and due to his brilliance, he won a scholarship to study Journalism at the Regent Street Polytechnic in London and graduated in 1958. This was a remarkable turning point in Otedola’s life and might have reinforced his commitment to help other indigent students attain their lofty dreams. After his destined stint as the 2nd elected executive Governor of Lagos State between 1992 and 1993, the quintessential, unassuming Otedola quietly reverted to his private life and business, becoming even more committed to his philanthropic works. He continued to donate generously to community development projects and to various religious causes. When the challenges of ageing came calling, this illustrious benefactor was still able to ensure the sustainability of the Sir Michael Otedola University Scholarship Awards Foundation. In 2008, his billionaire businessman son, Femi Otedola, instituted a N200 million scholarship scheme as intervention in the educational sector, expected to grow over time to include infrastructure improvements and the provision of learning aids to schools in the Epe area, thereby bringing a wider impact. That year, two innovations were introduced to the scheme; the physically challenged students from the catchment area began to enjoy special advantage, and students from the Colleges of Education were incorporated into the scheme. With this gesture, Femi Otedola, like his father, has demonstrated himself to also be a very generous man whose heart is continuously flowing with abundant milk of human kindness. This, perhaps, reinforces the fact that kindness runs in the veins of the Otedolas. The lesson that we need to draw from the commitment of Sir Otedola and his like to the cause of the downtrodden is that whatever man does in life lives after him. Though Sir Otedola is no more, he will be remembered forever by the lives that he touched. He could have closed his eyes to the plight of the poor but he did not because he had a divine understanding of the true purpose of life. The true purpose of life, according to Martin Luther King, is not in the number of mansions one has but in the number of lives one is able to touch. It is this respect that one could actually say that Sir Michael Otedola came, saw and conquered. Adieu Sir Michael Otedola, the good man of Epe.

Boko Haram kills 20 in another village raid





Suspected Boko Haram gunmen stormed a Christian village in northeastern Nigeria, killing 20 residents, a government spokesman said Monday. The heavily armed gunmen stormed Waga village in Adamawa state on Sunday and opened fire, Ahmed Soji said. “The gunmen believed to be Boko Haram insurgents in trucks and on motorcycles attacked the village where they killed 20 people and burnt several houses,” Soji said. “The whereabouts of several other people are still unknown but it is assumed they fled into the bush to escape the attack and are yet to return,” he said. A second attack by the marauding gunmen on nearby Gublak village was repelled by soldiers in the area, Soji said without saying if there were casualties in the shootout. Adamawa state, which is one of three states under emergency law along with Borno and Yobe, has seen a string of deadly Boko Haram attacks. In February, the group killed 34 people and burnt scores of homes in coordinated bombing and shooting attacks on Michika, Kirchiga and Shuwa towns near the border with Borno state. At least 24 people were killed on Sunday when Boko Haram gunmen raided Kumuta village in Borno State, where the Islamists have stepped up deadly attacks on villages in recent months. According to residents, dozens of motorcycle-riding gunmen stormed the village after sunrise as locals were heading to the weekly market, opening fire on residents. The militants, who have claimed the abduction of more than 200 girls from their school in Chibok, Borno state six weeks ago, have recently intensified their attacks in the state’s countryside, raiding villages where they kill residents, loot food supplies and set fire to homes.

Nigerian Super Fraudster Wanted In America By FBI Over $770,000 Internet Love Scam

Nigerian Super Fraudster Wanted In America By FBI Over $770,000 Internet Love Scam

 A 26 year old serial internet fraudster, Olaniyi Victor Makinde who is top on the wanted list of the United States of America’s Federal Bureau of Investigation, FBI has been arrested in Akure, the Ondo state capital by Nigeria’s anti-graft police, EFCC. A source in FBI had hinted iReports-ng that Makinde who is also known as Olaniyi Jones and Andrea Bradley was wanted by the San Francisco Division of the FBI. According to the source, the US government viewed the activities of Makinde seriously and as such had to send three FBI agents including a supervisory special agent and two special agents, to Nigeria last quarter to meet with their Nigerian counterparts over the arrest of the fraudster. The fraudster was eventually arrested on September 6 last year. iReports-ng learnt that the FBI agents were also joined by another official of the US consulate Lagos to obtain statements from Makinde when he was eventually arrested by EFCC operatives ahead of their request for his extradition to the US to face trial with some of his American accomplices in the serial fraud. The Nigerian authorities were said to have reached an agreement with the FBI agents to prosecute Makinde in Nigeria before considering handing him over to the US government. He was said to have been arraigned before a high court judge in Akure on November 26 last year over a $620,225.04 fraud and later remanded at a prison custody in the state capital. It was however drama galore on Tuesday, January 11, when the 26-year old internet fraudster already in custody at the Olokuta medium prison, Akure , was docked again by EFCC, over a fresh $150,000 scam. The fraudster, Olaniyi Victor Makinde, a fresh graduate of the University of Ado Ekiti , was docked at an Akure High Court presided by Justice A.O Adebusuyi on a 14 count charge bordering on obtaining money by false pretence and stealing. In his first arraignment before Justice Olasehinde Kumuyi of the same Court, nine count charges were preferred against him also bordering on stealing and obtaining money by false pretence. He allegedly obtained a total of $620,225.04 from two Americans: Marilou Sibbaluca and John Massoni in a marriage scam. However, the accused pleaded not guilty to all the charges preferred against him. Trouble started for Makinde when investigations revealed that he had been defrauding several foreigners, especially Americans in marriage scam and related offences, through the internet. He was also accused of masterminding serious hacking practices against an American online pay roll services company, Intuit, in California . When the latest 14 count charges were read to him, he pleaded not guilty to them. The defence counsel, Mr. A.A. Adetunji, thereafter made an oral application for bail which was successful. The judge granted the accused bail in the sum of N20million with two sureties in like sum who must swear to an affidavit of means of livelihood and with landed property in Akure. He also granted the prosecution’s prayer for the accelerated hearing of the case. The Judge added that during the trial he would not entertain any frivolous application meant to delay the trial and he threatened to revoke the bail granted the accused if there was any delay. He therefore adjourned the case to February 21 -25 for trial. The accused person has not been granted bail on the initial charges preferred against him. Justice Adebusuyi reserved ruling on the bail application till January 18 Makinde finished with second class honours in Economics from UNAD. He started his 419 heist early 2009 while he was still an undergraduate. He and other members of his gang who are now at large went to a dating site on the internet and started chatting with some American ladies and men who fell prey to their 419 scheme. Depending on the sex of his victim, Makinde sometimes presented himself as an American woman looking for a husband and to make assurance doubly sure, he would download a beautiful picture of an American lady from the internet and sent it to the victim as his picture. If the victim is a woman he would do the exact opposite. This way, Makinde had been fleecing his victims until the game was up for him. In some instances, he had presented himself as someone from a wealthy home and introduced a phony business to the victims and invited them to be his partners. Sometimes, he presented himself as an indigent lady needing help and support. With these kinds of stories, many people fell victim and lost thousands of dollars to the syndicate. But the long arm of the law caught up with him mid last year when some of the victims petitioned the EFCC through the FBI. The operatives were said to have swung to action immediately and within a short time, he was traced to Akure where he resides. He was caught with different incriminating documents and several fake identity cards bearing foreign names which he was using to defraud people. During interrogation, he confessed to the crime but added that he was not the only person involved and that the ring leader had traveled to Holland . He admitted that he collected only N2.5million from the proceeds of the crime. He also added that his parents and siblings did not know that he was a fraudster.

Olaniyi Makinde Victor (right), with his lawyer, A.A. Adetunji (left)

Bitcoin Rallies As Allegations Of Trading Irregularities Swirl



It’s been a torrid few days for bitcoin, the now globally known cryptocurrency. A price rally kicked off that has, over the past week, pushed the value of bitcoin up by around 25 percent. Trading near the $580 mark, bitcoin is still down around 50 percent from its record, late-2013 highs, but the life that it’s showing could once again bolster consumer interest in the stuff. Interestingly, bitcoin transaction trading volume isn’t up. In fact, daily bitcoin transactions have settled into a consistent range of between 50,000 and 75,000 per day, according to Coinbase. While transaction volume is flat, total traded bitcoin is up sharply on major exchanges. So, we’re seeing about the same number of transactions, with each trading event involving more bitcoin. Here’s the one-month chart (Via BitcoinAverage) of volume — bitcoins bought and sold, not the numerical tally of total transactions — from major exchanges (Coinbase is excluded):

Screen Shot 2014-05-26 at 12.48.58 PM

And, from the same source, a one-month price chart. See if you can spot the line-up:
Screen Shot 2014-05-26 at 12.50.09 PM


The rally itself comes at a soul-searching moment for the bitcoin. A recently published investigation called the ‘Willy Report’ alleges that bot accounts on the Mt.Gox exchange led to massive price inflation last November, the month that saw bitcoin reach its all-time record highs. Here’s he key excerpt from the report, detailing how the supposed bot ‘Willy’ executed massive transactions: So basically, each time, (1) an account was created, (2) the account spent some very exact amount of USD to market-buy coins ($2,500,000 was most common), (3) a new account was created very shortly after. Repeat. In total, a staggering ~$112 million was spent to buy close to 270,000 BTC – the bulk of which was bought in November. So if you were wondering how Bitcoin suddenly appreciated in value by a factor of 10 within the span of one month, well, this may be why. Not Chinese investors, not the Silkroad bust – these events may have contributed, but they may not have been main reason. But more on that later. There has been pushback since, with some arguing that Chinese bitcoin markets were in fact the leading driver of the past price spike. Other criticism has centered on the idea that one or two trading accounts could not have influenced so large a global market. As bitcoin’s price has yo-yoed, I’ve kept a closer eye on bitcoin transaction volume than its current dollar conversion price. If the bitcoin network is growing — the key metric of expanding adoption, in my view — transaction volume should rise. That would imply greater implied potential utility per coin, thus increasing their value. Which usage metric do we care more about? Transaction volume, or total bitcoin traded? Both, really, but I think that rising raw transaction volume itself would point to more pedestrian usage of bitcoin — not everyone is going to buy or sell several bitcoin at once, and, as bitcoin fans are trying to tie the cryptocurrency into normal life, we should expect to see rising numbers of small purchases if they are succeeding. Whatever the case, rising bitcoin sales and a rally mean that big dollars are buying into the cyrptocurrency.

SHOLA ALLYSON performing life at Embrace 7

Quotes

"A bird can never change its feather just because of bAd weather"

I Can Never Spend Money On A Man-Ghanaian Actress Vivian Jill Lawrence



Beyonce can buy an island for her man,
Jay-Z in any part of the world but not
Vivian Jill Lawrence, a Ghanaian actress,
who sees that as an impossible thing for
her, she is not ready to play lover guy and
spend on any man.
Vivian claims that she is caring because
she can buy food and drink at least for a
guy, the money she is making belongs to
her and her son, and not a lover man,
when she is tired of any of her men, she
would joyfully send messages to them
through her Facebook or WhatsApp.
Sometimes, these men believe that she is
not serious and they see her slam the
door behind them when it gets out of
hand, her friends tell her she is a crazy
woman when she wants to break up but,
the fact she is trying to project is she
doesn't want to be killed by a man before
her time.
Vivian agrees that she would get married
when the time comes but she would not
be put under any unnecessary pressure to
do that, some of her fans have called her a
lesbian but she doesn't care what anyone
have to say about her.