Business
A native doctor arrested for impreganting his client
A 42-year-old native Doctor, Ifatade Elegbeleye who hails from Ado-Ekiti, Ekiti State has been arrested by X-Squad section of the command for impreganting and duping his female client at Ipaja
According to the police, the native doctor allegedly had a culture of turning his female clients into house maids after having sex with some of them,Punch reports ..
The police added that Cecilia’s mother, who is a trader in Abesan Estate, Ipaja, had also been allegedly defrauded by the native doctor to the tune of N7.9m in 2015.
It was gathered that Cecilia was taken to Elegbeleye in November 2014, to seek spiritual help on issues bordering on late marriage and spiritual husband.
It was learnt that Elegbeleye, who had his centre at Olude bus stop in the Ipaja area, however, allegedly took advantage of the situation to impregnate Cecilia, as well as dupe the family.
The police alleged that the native doctor had built two houses ─ one in Lagos and the other in Ekiti State ─ from the proceeds of the fraud
Speaking with PUNCH Metro, Cecilia, said she met the native doctor at a bus stop on an evening in November 2014, adding that he allegedly hypnotised her into having an affair with him.
She said, “I met him as a cab driver at the Iyana Ipaja Roundabout. We never knew that the man was a fraudster and was into occultism. He first became friendly with my mother. After that, one thing led to another until he sexually assaulted me and defrauded my mother.”
However, Elegbeleye told our correspondent that there was no truth in Cecilia’s claims, adding that after she gave birth to a child for him, he rented a two-bedroomed apartment for her.
He said, “It is true that I am a native doctor and I treated her for ulcer and spiritual problems. She had a spiritual husband. She was having ‘promise and fail offer’ from men. So, we started befriending each other and in the process, she got pregnant for me.
“The woman now brought policemen to my house to arrest me. She has a girl for me. I did not use force to sleep with her. Can you hypnotise a woman who does not love you? It is not possible. She loved me. Her family wants to take all my property. That is why they are lying against me. Where did they get the N7m they are claiming? Are they rich?”
A police source told our correspondent that Cecelia’s child was living with the victim’s parents in Abesan Estate.
He said, “The suspect had been in the Kirikiri Prison on remand bordering on a similar offence. It was when he came out that we arrested him for this case. He took advantage of the lady’s problems to have sex with her and she became pregnant and had a girl for him. The girl is with the victim’s family. We are investigating the native doctor for a case of conspiracy, stealing and sexual harassment.”
The Police Public Relations Officer, SP Dolapo Badmus, confirmed the arrest.
*I think they should investigate very well
Business
Transcorp Power Plc Records 775% PBT Jump in Q1 2024 with Impressive Revenue Growth
Transcorp Power Plc (Transcorp Power), one of the electricity generating subsidiaries of Nigeria’s leading, listed conglomerate, Transnational Corporation Plc (Transcorp Group), has demonstrated impressive financial performance in its released Q1 2024 unaudited financial statements, for the period ended March 31, 2024.
The Company recorded N67.86 billion in gross earnings, compared to N21.04 billion reported in Q1 2023, reflecting a significant increase of 223%.
The strong performance is further demonstration of the Company’s strategic focus and effective execution, as part of Transcorp Group’s implementation of its integrated power strategy.
Highlights of Transcorp Group Results
Q1 2024 Revenue N67.86 billion, up 223%, compared to N21.04 billion in Q1 2023.
Profit before Tax rose by 775%, amounting to N28.77 billion in Q1 2024, compared to N3.29 billion in the same period last year.
Profit after Tax grew by 665% year-on-year to N20.1 billion in Q1 2024, compared to N2.6 billion in the same period last year.
Total assets grew to N276.2 billion in Q1 2024, up from N223.3 billion in Q4 2023.
Commenting on the financial highlights, Evans Okpogoro, the Chief Financial Officer said, “The Q1 2024 results saw a gross margin of 51%, a cost to income ratio of 70% and net profit margin of 30% compared to Q1 2023 gross margin of 37%, cost to income ratio of 87% and net profit margin of 13%. This highlights the remarkable operational efficiency gains of the Company. Transcorp Power has continued to grow its revenue aggressively and consistently over the last five years. We expect that by year end 2024, we will see a similar growth trajectory recorded between FY 2022 and FY 2023.”
Transcorp Power MD/CEO, Peter Ikenga, commented on the results, “We are pleased to report further robust financial performance, despite sectoral challenges such as gas supply issues and macroeconomic challenges. Our ability to sustain growth amidst this environment shows the resilience of our business model and the efficient execution of our strategic initiatives.”
“We remain committed to leveraging our strengths to capitalise on emerging opportunities, drive sustainable growth and provide superior value to all our stakeholders. We will continue to prioritise ingenuity, operational excellence, corporate governance, and stakeholder engagement, to deliver superior value for our long-term growth”. He added.
Transcorp Power Plc is an electricity generating subsidiary of Transnational Corporation Plc (Transcorp Group), one of Africa’s leading, listed companies, with strategic investments in the power, hospitality, and energy sectors.
Transcorp Power is committed to creating value and driving economic growth, by improving lives through access to electricity and transforming Africa.
Business
Elon Musk threatens to suspend X accounts doing engagement farming
The owner of X, Elon Musk, has said he will suspend all accounts found to be doing engagement farming on the social media platform.
Several users on X are engaging in farming to boost their earnings from the content creator monetization program of the platform. This comes as the billionaire struggles to get rid of bots and fake accounts from X, formerly known as Twitter.
Engagement farming refers to when someone posts generic or obnoxious content to get likes or replies. The goal is to get people to interact with the tweet, which may lead to followers and more earnings.
- “Any accounts doing engagement farming will be suspended and traced to source,” Musk posted on Friday.
Aside from boosting their chances of getting paid by the platform, individuals and organizations use engagement farming to to artificially inflate their online presence and influence. This involved unethical practices and the use of fake accounts or tools to inflate metrics such as likes, retweets, and follower counts.
This activity disrupts the organic flow of information on X, and manipulated content lowers genuine voices. By blocking such accounts, X Crop aims to foster an original and organic online environment where content is rated based on its originality.
Business
Transcorp Hotels sells Calabar subsidiary to Eco Travels
Transcorp Hotels Plc says Eco Travels and Tours Limited, an indigenous hospitality company, has acquired its 100 percent stake in Transcorp Hotels Calabar Limited.
According to a statement on April 17 by Stanley Chikwendu, the company’s secretary, Eco Travels and Tours has a diverse portfolio including hotel management, wellness and fitness facilities, family-centric spaces, as well as interior and exterior design and decoration.
“Transcorp Hotels strategic focus is on Abuja and the significant continuing investment in the iconic Transcorp Hilton Hotel and in development opportunities in Lagos,” the company said.
In its published 2023 audited financial statements, Transcorp Hotels — a subsidiary of Transnational Corporation (Transcorp) Plc — recorded 36 percent revenue growth.
With the ongoing execution of its business strategies and optimisation of new business opportunities, Transcorp Hotels said it will continue to create more value for all its stakeholders.
Meanwhile, on January 15, Transnational Hotels joined the trillionaire club in the stock market after their valuation crossed N1 trillion.
As of Thursday, the company’s market capitalisation is valued at N1 trillion.
On March 4, Transnational Corporation announced the listing of its subsidiary, Transcorp Power Plc, on the Nigerian Exchange Limited (NGX).
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