News
JABU Pro Chancellor Commends Aladekomo, Chams
Professor Anthony Imevbore, emeritus professor and Pro-Chancellor of Joseph Ayo Babalola University (JABU), has said Demola Aladekomo, group managing director, Chams Plc, and Chams Group still have more to contribute to Nigeria’s economic growth notwithstanding close to three decades of eminent service to the nation.
Professor Imevbore called on JABU students and the Nigerian youth at large to emulate the inspiring lives of Aladekomo and other successful Nigerian entrepreneurs who have contributed and are contributing immensely to the growth and development of the Nigerian economy.
JABU is Nigeria’s first ICT-driven entrepreneurial university which seeks to equip students with entrepreneurial skills irrespective of their basic academic pursuits, in order to make them self-sufficient, self-reliant, competent, and efficient employers of labour and adding value to our national economy.
The Pro-Chancellor made this call during the 2nd Oladele Olashore Memorial Lecture at JABU in Ikeji-Arakeji, Osun State at the weekend.
He said, “We are indeed blessed to have Mr Demola Aladekomo, a seasoned entrepreneur on the podium sharing his entrepreneurial journey and success tips with us as the keynote speaker at the 2nd Oladele Olashore Memorial Lecture. From the deep education given to us on entrepreneurship today which is in alignment with the JABU vision, there is no reason why some of you here should start writing job applications after graduation.
“You have been given all the tips, all you need to be a successful entrepreneur just like the Late Oba Oladele Olashore and Mr Aladekomo, our guest speaker. Nothing compares to learning from an individual who discusses a topic of interest from life experience. The guest speaker is a resourceful Nigerian who has contributed immensely to the national economy and still has a lot more to contribute to the growth of this country,” Professor Imevbore said.
Delivering his keynote address entitled “The Entrepreneur as a Nation Builder”, Aladekomo lauded the commitment of the vision bearers of Joseph Ayo Babalola University to equipping undergraduate students with entrepreneurial skills irrespective of their basic academic pursuits.
He said, “It is indeed delightful that Joseph Ayo Babalola University is striving to produce a new generation of youths that are self-sufficient, self-reliant, and competent. Youthful entrepreneurs drive the economy of the United States.
America’s 25.8 million small businesses employ more than 50 percent of the private workforce, generating more than half of its national gross domestic product. Nigerian youths must imbibe same culture of entrepreneurship and stop differentiating between opportunities in the formal and informal, believing the latter is for illiterates. Without an upsurge in youth enterprise, our national economy cannot attain its true potential.”
The Group Managing Director of Chams Plc added that “It is ironic that we have lots of unemployed graduates when there are lots of societal needs that are not being met in the Nigerian market.
“Could it be lack of ideas or the false belief that entrepreneurs are born and not made that keep our youths searching for elusive jobs when the export market for cassava is grossly underserved? The scenario is the same across thriving sub-sectors of the national economy with an increasingly ageing workforce in which opportunities abound for energetic youth and new ideas.
“Entrepreneurs are created through education, experience and mentorship. They were not born with entrepreneurial insight, ability and skills which make them exceptional.
“With the right skills and attitude, any Nigerian youth with ambition and ideas can go far because of the existing limitless opportunities in the market. Nigeria represents an exceptional and extremely exciting opportunity for young and smart entrepreneurs with guts.”
On his part, Professor Sola Fajana, Vice Chancellor, Joseph Ayo Babalola University said “the guest speaker, Mr Aladekomo has treated us to a life inspiring lecture which is more beneficial to the largely youthful audience in attendance. We are going home with message that wherever there is a need, there is need for enterprise; and by satisfying the need, your create value which includes employment and wealth. We are delighted to have Mr Aladekomo here to encourage our community of youths to make a difference just like the late Oba Oladele Olashore whose memory is being honoured today.”
DataPro Rating Agency has upgraded the long-term credit rating of Dangote Cement Plc to AA+ from AA, citing the company’s strong financial performance, market leadership and ability to meet its financial obligations despite Nigeria’s challenging economic environment.
In its latest rating report, the technology-driven credit rating agency also affirmed Dangote Cement’s short-term rating at A1, with a Stable Outlook. The ratings are valid until June 16, 2027.
DataPro said the upgrade reflects the cement maker’s sustained financial strength, resilient operating performance and dominant position in Nigeria and across Africa.
According to the agency, the assessment followed a comprehensive review of the company’s capital base, earnings, liquidity, corporate governance, regulatory compliance and the sustainability of its financial performance over the medium to long term.
It noted that Dangote Cement’s strong brand, leading market share, solid earnings, robust asset base and experienced management continue to strengthen its ability to meet financial commitments on time.
The agency also highlighted the company’s outstanding financial performance in 2025.
According to the report, Dangote Cement posted N4.31 trillion in revenue during the year, representing a 20 per cent increase from the previous year. Profit before tax more than doubled, rising 109 per cent to N1.53 trillion, driven by higher sales, improved operating efficiency, lower finance costs and a stronger capital structure.
DataPro said the AA+ long-term rating indicates low credit risk and reflects excellent financial strength, business profile and operating performance relative to its rating benchmarks.
It added that the A1 short-term rating signifies good credit quality and shows that the company has a strong capacity to meet its short-term financial obligations as they fall due.
The rating agency, however, noted that the credit rating has a maximum shelf life of 12 calendar months in line with international best practice and should be used only as a reference, not as an offer to trade in securities or as a substitute for investors’ independent judgement.
Xora Finance has announced it will no longer consider job applicants from Nigeria.
Xora Finance is a digital bank founded by Joren Lundgren, in February 2026 and allows users to deposit and earn interest on their XRP cryptocurrency.
Lundgren, founder, in an announcement on X (formerly Twitter), cited an ongoing pattern of misconduct, such as dishonesty and theft, from previous Nigerian hires as the reason for the decision.
This sudden blanket ban came just days after the company’s official career page was aggressively recruiting remote workers for marketing and content roles.
The announcement generated heavy backlash online, with many people upset that a blanket rule punishes honest job seekers.
Some lawyers have said that victims of Ponzi schemes have legal remedies, although recovering lost funds and prosecuting perpetrators remain major challenges.
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new participants rather than from actual profits.
Operators lure victims by promising high returns with little to no risk.
The scheme inevitably collapses when the flow of new investors slows down.
Some lawyers who spoke to News Agency of Nigeria (NAN) separate interviews with on Sunday, said that victims could pursue civil actions to recover their money.
Mr Chibuikem Opara, a lawyer at Justification Chambers, Ikeja,said many Nigerians continued to fall victim to Ponzi schemes in spite of repeated warnings.
Opara said it was wrong to attribute participation in Ponzi schemes to a lack of investment opportunities, noting that promoters often exploit investors’ greed through promises of unrealistic returns.
“What you cannot take away is the fact that many Nigerians have fallen and continue to fall victim to these schemes every time,” he said.
According to him, victims may individually or collectively institute civil actions against the beneficiary company for breach of contract or refund arising from failure of consideration.
Opara said victims could also unite to seek an order from the Federal High Court to wind up the beneficiary company.
He, however, noted that such efforts might yield little benefit if perpetrators had already siphoned the funds and left behind an empty shell.
The lawyer said available remedies largely depended on the actions of relevant authorities, adding that recipient accounts could be frozen to facilitate fund recovery and support winding-up proceedings.
Opara said regulators and law enforcement agencies often became aware of Ponzi schemes only after substantial losses had occurred.
According to him, victims frequently failed to report suspicious schemes early enough to enable timely intervention.
He added that funds are sometimes moved outside the country before authorities become aware of the fraud.
Opara also cited inadequate information and the deceptive nature of the schemes as major obstacles to investigation and prosecution.
“Most times, everything about the schemes is made to appear elusive, just like the profits promised to victims,” he said.
Also speaking, Mr Vincent Aminu of A.F. Aminu and Co. advised that victims of investment scams should report such cases to appropriate law enforcement agencies on time.
Aminu said victims could petition the Economic and Financial Crimes Commission (EFCC) or file reports with the police.
He said that after investigation, prosecutors could bring charges against suspects under relevant fraud-related laws, including provisions of the Criminal Code and the Advance Fee Fraud and Other Fraud Related Offences Act.
Beyond criminal prosecution, Aminu said .victims could pursue civil actions to recover their money
According to him, such actions may be based on breach of contract, unjust enrichment, or fraudulent misrepresentation, depending on the circumstances.
He added that victims could petition the Securities and Exchange Commission (SEC), which could investigate illegal operators, shut down unauthorised platforms, and freeze assets.
He identified the anonymity of online fraudsters as one of the biggest challenges confronting investigators.
According to him, many operators concealed their identities through fake digital profiles and technologies that made tracking them difficult.
Aminu also noted that victims who delayed taking legal action risked losing opportunities for redress.
He added that prolonged court proceedings often delayed justice for victims.
“Many fraud-related cases take years before the court reaches a verdict, thereby delaying justice for victims,” he said.
Also, Mr Chris Ayiyi of Ayiyi Chambers, Apapa, described Ponzi schemes as a gamble that benefited early participants at the expense of later investors.
Ayiyi said some early entrants received returns on their investments, thereby encouraging others to join the schemes.
He said the schemes eventually collapsed, leaving late investors to bear the losses
The lawyer called for a complete ban on Ponzi schemes or sustained public enlightenment campaigns against them.
He urged the National Assembly to enact laws that would strengthen regulation and provide greater protection for investors.
According to him, stronger legal safeguards are necessary in a country operating a capital-based economy.
Tinubu Orders NIMC to Enrol Every Nigerian by End of this Year – DG
Nigerians Accumulate $59Bn in Cryptocurrency Assets —FDC
Nearpays, Nigerian Fintech Becomes First African Startup to Win UN’s AI for Good Innovation Factory
Nokia’s 14 Years of Mobile-Phone Supremacy Ended in an Afternoon
MTN Nigeria Slashes Cost of Broadband Internet Router, Unwraps New Data Bundles for Low-Budget Users
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
Nigeria Launches FreeTV Nationwide
NASENI Moves to Digitize CCB’s 5m Assets Declaration and Operations
Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform
CANAL+ Partners Samsung to Pre-Load DStv Stream on New Samsung TVs In Nigeria, Other African Countries
News2 days agoXora Finance, Fintech Firm Refuses to Hire Nigerians over Alleged Dishonesty
Telecom2 days agoNCC Advances Dig Once Policy, Engages Stakeholders on Cost-Based Framework for Duct Sharing
Telecom2 days agoNCC to Keynote Telecom Sector Sustainability Forum 7.0
General News2 days agoFG Secures Fresh $208.3m World Bank Loan for Cash Transfer
News2 days agoHow Ponzi Scheme Victims can Seek Legal Remedies — Lawyers
News2 days agoPalmPay Nigeria Appoints Samuel Oluyemi as Chief Operating Officer
General News2 days agoSERAP Sues INEC over Alleged N800Bn 2027 Tinubu Campaign Fund
E-Business2 days agoKaigama,Catholic Archbishop of Abuja Warns against Misuse of AI