03/26/18

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Latest Reality Blog is a legal blog where you are updated on online latest news, gist, entertainment, events, motivational text, and genue articles.
Sergei Mavrodi

According to media reports, founder of the MMM series of financial pyramid schemes, Sergei Mavrodi, has died of heart attack at the age of 62 years in Moscow.
Mavrodi was taken to a city hospital from a bus stop overnight Monday after he felt weakness and pain in the chest area, reports Moskovsky Komsomolets.
The emergency team has failed to save his life.
“He died this morning,” the report said.
In 2007 Sergei Mavrodi was convicted in a Russian court of defrauding 10,000 investors out of 110 million rubles ($4.3 million).
Mavrodi claimed he is not the beneficiary of the donations and he is not used to flamboyant lifestyle.
His true charges of which he was later convicted of is tax fraud though he claimed that MMM scheme is not a business, but a mutual donation program of which there is no law against such. LR News
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Latest Reality Blog is a legal blog where you are updated on online latest news, gist, entertainment, events, motivational text, and genue articles.

Remington, the more than 200 year-old US gunmaker has filed for bankruptcy, as it tried to restructure its massive debts.
“Directors have determined that it is advisable and in the best interests of the Company that the Company file, or cause to be filed, a Voluntary Petition commencing the Chapter 11 Case,” the bankruptcy filing says.
Remington had announced it would file for bankruptcy in February, just two days before a shooting at a Parkland, Florida high school killed 17 people and reignited a national debate on gun control.
The restructuring agreement will allow Remington to reduce some $700 million of its consolidated debt, according to the company, as well as inject a contribution of $145 million of new capital into its operating subsidiaries.
In February Remington said its “business operations will continue to operate in the normal course and will not be disrupted by the restructuring process.”
Remington’s financial woes illustrate a paradox of the Trump era: weapon manufacturers ramped up production in anticipation of a Hillary Clinton presidency that would drive sales of those fearing increased gun control.
Instead, they got a period of political dominance for the powerful National Rifle Association gun lobby — with Republicans controlling Congress and the White house — that was nonetheless accompanied by financial fragility for gunmakers.
The company has also been hit with lawsuits by families of victims of the Sandy Hook school shooting that killed 20 small children and six adults in 2012.
The families say 20-year-old killer Adam Lanza would never have been able to carry out his 264-second attack if he had not had access to a high-capacity weapon which had been “specifically engineered” for military use in combat.
More than a million Americans flooded streets of cities nationwide on Saturday demanding tighter gun control on Saturday, marches that were spearheaded by teenagers from Parkland who survived the shooting.
*AFP/LR News
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Latest Reality Blog is a legal blog where you are updated on online latest news, gist, entertainment, events, motivational text, and genue articles.
The Minister of Education, Malam Adamu Adamu, with the new Pro-Chancellor and Chairman of the Governing Council, NOUN, Prof. Peter Okebukola, during the inauguration of the councils of two universities and the federal education parastatals, in Abuja on Thursday.

The newly reconstituted Governing Council of the National Open University of Nigeria (NOUN) has been inaugurated.
A statement by Ibrahim Sheme, NOUN’s Director of Media and Publicity, said that the inauguration was performed in Abuja by the Minister of Education, Malam Adamu Adamu.
According to Sheme, the new council is chaired by Prof. Peter Okebukola, a former Executive Secretary of the National Universities Commission (NUC).
He listed other members of the council as Prof. Okezie  Abarikwu- South-east,  Chief Igbobo Sylvanus -South-South, Prof. Bunmi Olaopa-South-west and Alhaji Garba Sani -North-west.
“Their appointment was part of the government’s effort to replace the pro-chancellors and members of the governing councils of some federal universities, polytechnics, colleges of education and education parastatals whose tenures have elapsed.
“The newly constituted NOUN council was inaugurated during the ceremony together with those of the National Maritime University, Okeronkoko, and several parastatals under the Federal Ministry of Education.
“The NOUN team at the ceremony consisted of the two Deputy Vice-Chancellors, former DVC Academic Prof. Eya, the Registrar, Bursar, University Librarian, Head of the Legal Unit, Director of Media and Publicity among others.
Sheme said that NOUN’s Vice-Chancellor, Prof. Abdalla Uba Adamu, was unavoidably absent as he was in Mozambique attending a meeting of the African Council of Distant Education (ACDE).
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Latest Reality Blog is a legal blog where you are updated on online latest news, gist, entertainment, events, motivational text, and genue articles.
Invasion by monkeys

Invasion by monkeys from natural habitat is forcing many residents of Soluyi/Sosanya  Community  in Gbagada, Lagos State, to flee.
Some of the residents told the NAN in Lagos on Monday that they could no longer withstand the situation.
They called on the state government to save the community from the trouble, saying that the animals forced their ways into their rooms, destroying window and door nets, food stuffs and other items.
The Chairman of the community’s Landlord Association, Mr Adigun Olaleye, said that it had become difficult for the community to curtail the monkeys and their destructive attitude.
He said that the invasion might have resulted from the nearness of the community to a swamp forest that separated the community from Ifako area.
According to him, the monkeys come into residences at any time including early morning and gain entrance into rooms even if the houses are locked.
Olalaye told NAN that the community had written a letter to the Lagos State Ministry of Agriculture as regards the situation but had yet to get a relief.
“They said we would have to pay for them to come and pack the monkeys,” he said.
He said that the invasion had been on for years but recently became unbearable.
Olaleye  appealed to the state government to urgently intervene.
Narrating her ordeal,  a journalist who lives in the community, Mrs Funmilola  Gboteku, told NAN that the monkeys had forced her family to flee.
“Many times, these monkeys come to the neighbourhood to destroy our property. Once they see food items inside a house, they direct all their energies at gaining entrance forcefully.
“The monkeys are in the habit of tearing the protective nets on windows to gain entrance and eat whatever they find in the house.
“I have had to replace the protective nets several times;  I am tired of doing it.
“I have been locking my windows but locking of windows has disadvantages; there is no cross ventilation in the house, and as a result, we suffer heat,’’ she told NAN.
Another resident, Mr Gabriel Omopariwa, said that he was tired of the destructive attitude of the monkeys and had tried to look for ways to stop them, to no avail.
“On several occasions, these monkeys have destroyed our kitchen nets to gain entrance and steal food items.
“Several traps have been set to capture and kill these demonic animals to no avail.
“One of my neighbours, while trying to pour chemical on a monkey, fell in the bowl of the chemical; she had to be rushed to a hospital.
“She still lives with the scars from the unfortunate incident,”  he said.
Mr Joshua Folowosele, a landlord, said that the monkeys entered his wife’s shop on many occasions to eat gala, biscuits and other foods.
“We have tried to poison them on many occasions, but those monkeys are too smart; once they perceive the smell of the food, they usually detect it has been poisoned.
“Some of them have been killed with guns, but we cannot keep shooting in a residential area; it is very risky.
“Those of us who are landlords can testify that these monkeys have been disturbing us for years.
“One of the landlords here had to sell his house to move to another place when he got tired of the disturbance,” Folowosele said.
Another landlord, Mr Oluwatosin Aregbesola, said that his tenants were no longer feeling safe in the house because of the monkeys.
“The monkeys enter kitchens to eat our soups and any food stuff on the shelf.
“The day I tried to catch one of them, the monkey attacked me by using its long nails to punch a hole on my neck and scratch my face,” he said.
Aregbesola appealed to the state government to save the community from the menace. LR News
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Latest Reality Blog is a legal blog where you are updated on online latest news, gist, entertainment, events, motivational text, and genue articles.
Former NSA Sambo Dasuki and former President Goodluck Jonathan

More details have now emerged showing how billions of naira and hundred millions of dollars were illegally removed from the public till by the Jonathan administration specifically ahead of the 2015 presidential elections.
The information came on the tail of the denial by Jonathan’s spokesmen that any money was taken illegally out of the Nigerian treasury and shared by Jonathan and his aides.
The information was given by Vice President Yemi Osinbajo to illustrate how grand corruption has been doing great havoc to the Nigerian economy. He said weeks to the 2015 election under the administration of former president Goodluck Jonathan about N100B was released and embezzled. He also disclosed that about $289m was disbursed illegally about the same time.
Now, there are some new details of how some of the funds were illegally transported from the Central Bank to the private residence of the former President Goodluck Jonathan.
The former NSA, Sambo Dasuki personally supervised the physical transfer of the money from the CBN vaults to the private residence of the former President.
In one particular instance over N70 billion was released in parts from the national treasury between January 8 and February 25, 2015. The over $289M which was also referenced last week by the Vice President is said to be included in this particular series of illegal transactions.
in another illegal disbursement, the minutes of the Central Bank board meeting of 25th August 2014 indicated the board’s approval of another N60B requested by the former President and released later by the Central Bank.
A Presidency source said the sum which was okayed by the CBN board was not tied to any project or procurement, and was meant and disbursed purely for campaign purposes, through the office of the then NSA and the SSS leadership at the time.
Specifically that N60 billion that was okayed by the CBN on August 25, 2014 was said to have been shared between the two security agencies thus: N40B went to the NSA while N20 billion was released to the State Security Services (SSS).
While some of these newly emerging fund disbursements have been traced to the former NSA, there are indications that some of the funds are unconnected to the ongoing Defence contract trials of the former NSA,while some might.
It has now been revealed that the $289m mentioned by the Vice President was released on February 25, 2015.
Documents including cash vouchers indicate that $289,202,382 was released in cash to the NIA by the Central Bank of Nigeria from the Joint Venture (JV) Cash Call Account No. 000-0000-11658-366 of the NNPC/NAPIMS with JP Morgan Chase Bank, New York, USA.
At the exchange rate then of $199 to a naira, $289m is equivalent to about N60 billion. But had the money not been stolen, it would be at today’ s rate over N104B.
Further findings showed that in yet another set of illegal fund withdrawals under one week between January 8 and 16, 2015, the sum of N1.5 billion was released in three tranches of N300m, N400m and N800m respectively.
“This money was released from the MEA Research Library Account to the Jointrust Dimension reportedly owned by Danjuma Yusuf and Nenadi Esther Usman,” an official source with knowledge of the transaction disclosed.
The source further said the sum was transferred to their various political associates, which included a former minister of aviation, Mr. Femi Fani-Kayode.
Further findings showed that N350 million was allegedly transferred to Femi Fani-Kayode through his Zenith Bank Account No. 1004735721, on February 2, 2015.
Also, another N250 million was allegedly transferred to Fani-Kayode through the same Zenith Bank Account on February 19, 2015.
A document further showed that yet another N10 billion was released to the Office of the National Security Adviser by the Central Bank of Nigeria (CBN) on September 15, 2014.
The money was said to have been released in tranches of foreign exchange of $47 million, $5 million, 4 million Euros and 1.6 million Euros.
A letter from the Office of the NSA in November, 2014 further showed that the monies were released by the CBN as ‘funds for special services’.
“Further to our discussion, you are pleased requested  to provide the sum of Forty Seven Million United States Dollars (USD47,000,000,00)cash out of the Ten Billion Naira (N10,000,000,000,00) and the balance in Euro to this office for special services,” a letter signed by the former NSA read.
Findings have shown that this particular CBN release of N10B was sourced in November 2014 from a N40 Billion CBN released funds meant for Corporate Social Responsibility, CSR. It was this N10B that former President Jonathan instructed the CBN Governor and the then NSA to deliver to him personally in a private residence in Abuja. Sources said the money was illegally transferred using CBN van for the use of “PDP Presidential Primaries.” LR News
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