Celebrities
Avoid Ponzi Schemes! SEC Warns Nigerians Again
Nigeria stock exchange
NIGERIANS have again been advised to desist from investing their money in investments that offer unreasonable levels of returns at little risk to investors.
This was stated by Ag. Director General of the Securities and Exchange Commission (SEC) Ms Mary Uduk during a Town Hall meeting on Current Initiatives by the SEC Nigeria to enhance investor value held in Port Harcourt, Rivers State, Wednesday.
In a statement by the Commission, Uduk, while enjoining investors to be wary of any investment that is proposing return levels that are unreasonably high, added that they should always cross check that such fund managers and the products they are offering are registered with the SEC.
The Ag. DG told the audience that the specific objective of the meeting is to keep Nigerians abreast of the initiatives that SEC is currently undertaking in order to make the capital market more user friendly such that people can participate in it with greater ease, comfort and convenience.
“There is the added and all-important purpose of ensuring that the gains of your participation, be these dividends, proceeds from share sales/transfers, etc. accrue to you seamlessly, without sweat and in the shortest time possible.
The purpose is also to ensure that you do not fall victim to the antics of fraudsters who purport to be able to double any amount of money you make available to them as investment value.
“These fraudsters or promoters of Ponzi Schemes are the false prophets of the investment environment, they are the ill wind that blows no good and at whose sight you must flee; they are to be avoided. This is one message you must take home to family, friends, relations and acquaintances in order to save them from the agony of loss of their hard–earned money” she stated.
Uduk also used the occasion to inform investors that SEC is currently leading the entire capital market industry in an effort to migrate all shareholders to an e –Dividend regime.
The essence of the e-Dividend Mandate Management System she said, is to eradicate or reduce to the barest minimum the incidence of unclaimed dividend.
“Unclaimed dividend is an undesirable feature of the Nigerian capital market which denies investors/shareholders the gains of participating in the capital market. It denies the economy access to the huge amount of money which should have accrued to shareholders and would have gone into circulation to oil the wheel of the economy.
“It is a consequence of the bottlenecks which are inherent in the erstwhile paper dividend warrant regime such as postal system inefficiency, change in investors’ addresses, poor fidelity and human fallibility in dividend payment processes, amongst others.
Uduk stated that the e-Dividend regime bypasses these limitations by ensuring that dividends which do not exceed 12 years of issue are credited directly to an investors account after the declaration by the paying company and within a stipulated payment period through simple interbank transfer.
Recall that the e-Dividend registration exercise started on November 23, 2016. Each successful registration cost N150, however, between that time and March 31, 2018, the Commission underwrote the registration cost for all investors that mandated.
Other initiatives by the SEC according to Uduk include, Direct Cash Settlement, dematerialisation, National Investor Protection Fund, Recapitalisation of capital market operators, corporate governance scorecard, new rules for products innovation, development of commodity exchange, Collective Investment Schemes among others.
In his remarks, Head of Port Harcourt Zonal office of SEC, Mr Obi Adindu said the SEC is interested in making the capital market stronger and better and a means of creating wealth for Nigerians.
“We are here to get your views on our initiatives and policies so that we can fine tune them where necessary in a bid to ensure that your investments are well protected in the capital market” Adindu added.
Celebrities
Why would you post pictures in your underwear? – Portable out calls Tiwa Savage
Nigerian singer Portable has raked reactions on social media after calling Tiwa Savage out for posting pictures in her underwear at 40 years old.
During his recent TikTok live stream, Portable, who is known for his outspoken personality, questioned the appropriateness of Tiwa’s posts, particularly given her status as a mother and her age.
“I’ve noticed something; someone needs to talk to Tiwa Savage, please. Tell her to calm down o. I’ve been listening to her music since I was small now I’m a father and mummy Tiwa savage is still posting pictures in her underwear. Only panties? Is it good for a mum to post pictures in her underwear?”
Despite his criticism, Portable admitted Tiwa Savage appeals to him, describing her as a “bad girl” who has maintained her appeal since her younger years.
“E dey enter my eye, make I no lie. The day I met Tiwa Savage and I hugged her, it felt like I hugged a mermaid and was being swept away. But someone should tell her to calm down with the naked outfits.”
In between hysterical laughter, the singer added, “Tiwa Savage, I swear to God, you’re appealing to me. you’ve been bad since you were 19 and you’re still a bad girl at 40, you’re still wearing panties at 40.”
His remarks sparked reactions from social media users, with some slamming him and others expressing their support for his views.
An outraged Instagram user asked, “What level of disrespect is this?”
“I actually don’t think he means any harm. He’s just not emotionally intelligent. So he lacks the methodology to communicate his message appropriately. He’s basically saying Tiwa’s dress sense is becoming ‘fighting temptation’ in a nutshell,” another person wrote.
Another comment read, “He should be shut.up..Tiwa savage is an entertainer…if nicki minaj did the same u would not talk.”
Celebrities
AY Makun, Basketmouth discuss their 17-year feud
AY Makun and Basketmouth have made their first public appearance together, marking a new chapter after their 17-year feud.
The rift between the two prominent comedians began in 2006 over unpaid performance fees and intensified in 2022, with both avoiding each other publicly.
In March 2023, AY claimed Basketmouth had yet to pay him for a show he anchored for him. Responding, Basketmouth described his colleague’s account of the incident as “lies”.
However, following Basketmouth’s apology in 2023, both comedians have put aside their differences.
In the latest episode of the ‘Glass House with AY‘ podcast, the comedian argued he did not get the money for the show while Basketmouth maintained that he was paid.
AY also shared insights into his prolonged rift with Basketmouth.
“I did not know when the fight started. I just noticed it started. Every day I wake up thinking it is a normal thing, boys will be boys and like that, it grew into several years,” he said.
“Then the third year, it seems like people were spreading more rumours about the feud till it lasted that long. It lasted too long”.
AY emphasised the feud’s impact on younger comedians. “Our feud caused some damages because in a way we were like providers for people,” he said.
Basketmouth added: “Most times people swear allegiance by default. So when we were not on good terms some people made it their business”.
“…A comedian called me to tell me AY reached out to him for a gig and was asking if it was okay to work with AY. I told him it was okay and I was happy it happened because people would know it was okay to work for either of us because it was about more money and opportunities.
“There was a guy who picked a side and came at me. Now that we are cool, he would be confused. It is collaboration over competition.”
Celebrities
Paul Okoye accuses Peter of song theft, vows to release ‘original version’
Paul ‘Rudeboy’ Okoye, the Nigerian singer, has accused Peter ‘Mr P’ Okoye, his twin brother, over alleged intellectual property theft.
Mr P recently released the single ‘Winning’ — a few months after the brothers confirmed that Psquare, their shared music group, no longer exists.
However, in a recent Instagram post, Rudeboy claimed that the song was his, arguing that it was supposed to feature in his forthcoming album. He also alleged 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.
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