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High-flying Lagos CEO Takes His Life In Lekki Apartment

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He seemed to have it all, but – unknown to others – Mr Nick Imudia, erstwhile Chief Executive Officer (CEO) of one of Nigeria’s e-commerce giants, was a troubled soul.

Two nights ago on Tuesday, June 25, the Lagos big boy and CEO of D.light, a leading innovator in the distribution and financing of residential solar energy solutions and transformational household products, killed himself by jumping from the balcony of his apartment in the highbrow Lekki.

According to an exclusive report by THEWILL, “Before making the jump, he had called his US-based brother to give him instructions on how to distribute his wealth should anything happen to him.“He also called his young daughter from a previous relationship and told her he would always be there for her and that all she needed to do was to look in the sky and he would see her. His friends, family and associates are in shock.”The late Nick Imudia hailed from the Ika South Local Government Area of Delta State, and Nick was previously married to the mother of his young daughter who was also from the same local government with him. “The marriage,” says THEWILL, “ended due to irreconcilable differences.“He gave love a second chance when he got married to a Caucasian. Everyone assumed he had reached his zen” only to wake up to news of his having taken his life.Among other corporate behemoths, the late Nick Imudia had stints with TCL/Alcatel as a regional director and Microsoft Device and Services as the GM/MD for West and Central Africa.

Source: News Express

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Crime

Keystone Of Fraud? As Two Bank Staff Arraigned For Alleged Stealing Of Customers Multi-million Naira

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Justice Deinde Dipeolu of the Federal High Court in Lagos on Monday granted N20 million bail to two staff members of Keystone Bank Limited, Ebele Okpala and Perpetua Onyeto, over alleged obtaining of N35 million fraudulently.Okpala and Onyeto were granted bail after their counsel argued the bail application brought before the court.The duo were arraigned on Friday, August 30, 2024, by the Police Special Fraud Unit, in Lagos over alleged fraud.Okpala and Onyeto are facing five counts bordering on conspiracy, stealing, money laundering and obtaining by false pretence preferred against them, by the police.The prosecution counsel who is a Chief Superintendent of Police, Eliot Ejie, told the court that the two bankers committed the offences sometime in July 2023.CSP Ejie told the court that the first defendant, Okpala, in connivance with the second defendant, Onyeto, who worked at the branch of the bank in Anambra State, fraudulently lifted a lien placed on the bank’s customer’s account and transferred the money to her account number 1000234952 domiciled in Keystone Bank.According to the prosecutor, the offences committed by the defendants, contravened Sections 1(1)(c), Advance Fee Fraud and other related Offences Act, 2006 and punishable under Section 1(3) of the same Act.He also told the court that the two bankers’ acts contravened Sections 516 and 383 (1) Criminal Code Act LFN 2004. And Sections 21(a) and 18 (2)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act.However, the defendants pleaded not guilty to the charges against them.The case was then adjourned till Monday, for the hearing of their bail applications.At the resumed hearing of the case on Monday, the defendants’ counsel argued their bail applications which was vehemently opposed by the prosecutor.But Justice Dipeolu, after listening to the arguments on their bail applications, granted the two bankers bail in the sum of N10m each with two sureties each in like sum.The judge also ordered that one of the sureties must be a landed property owner within the court’s jurisdiction, while the second surety, must be a Grade level 16 officer in either Lagos or Federal Government establishment.He adjourned the case till November 6, 2024, for trial.

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Crisis Hits MTN MOMO PSB As Both CEO, CCO Quit

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Mr. Eli Hini, the Chief Executive Officer of MTN’s MoMo Payment Service Bank, and Ms. Elsa Muzzolini, Chief Commercial Officer, have both left the company, P.M.EXPRESS Learnt.Muzzolini announced her resignation through a direct message to MoMo employees on 12 July.She was said to have taken up a new role as CEO of M-PESA Ethiopia, the Safaricom’s mobile money business, effective 15 July, 2024 as an updated on her LinkedIn profile reflect her new position.However, it remains unclear whether Hini, who departed in June 2024, has moved on to another role.Both Hini and Muzzolini joined MoMo PSB in 2022, where they played key roles in driving the fintech’s growth strategies in Nigeria.Their exits come at a crucial time as MTN Nigeria increases its investment in MoMo PSB to boost its market share in mobile wallets and app adoption, following challenges in its core telecom business.Phrase Lubega, MTN’s Head of Fintech, has been named as the new CEO, although his appointment is pending approval from the Central Bank of Nigeria, according to a source with direct knowledge of the situation.MTN has yet to respond to requests for comment.MoMo PSB has seen significant growth under Hini and Muzzolini’s leadership.In the first half of 2024, the number of mobile money wallets grew by 55.8%, reaching 5.5 million, up from 3.1 million in the same period in 2023.Fintech revenue also increased by 11%, driven by higher adoption of mobile wallets and the MoMo app.In comparison, Airtel’s mobile money service, which is slated to go public in 2025, reported a 14.9% increase in its customer base, reaching 39.5 million.In a strategic move to strengthen MoMo PSB’s operations and position it for further growth, MTN Nigeria on August 5, 2024, paid ₦6.95 billion to acquire Acxani Capital Limited, the minority shareholder of MoMo PSB.This transaction, detailed in a regulatory filing, gives MTN Nigeria full control of the fintech unit and allows for additional investment.As part of the deal, MoMo PSB received an extra ₦9.4 billion from MTN Nigeria.

Source: pmexpressng.com

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Crime

EFCC Arrests Two Former Union Bank Staff for Stealing Dead Customer’s Money

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Operatives of Makurdi Zonal Command of the Economic and Financial Crimes Commission, have arrested two former staff of Union Bank in Makurdi for allegedly stealing the sum of N4,199,500.00 (Four Million One Hundred and Ninety Nine Thousand Five Hundred Naira) belonging to a deceased customer of the bank. The suspects, Idah Ogoh and Agbo Okwute were arrested on Friday, June 21, 2024 in Makurdi, Benue State.

Their arrest followed a petition against them by the bank on fraudulent debits on a deceased customer, Emmanuel Azer Agenna’s account. Their dealings were uncovered when the family of the deceased approached the bank for the balance on the account of the deceased for probate processing. The family disputed the balance given to them by the bank and subsequently sent a complaint to the bank regarding unauthorised debits on the account. Based on their complaints, the bank carried out an internal investigation and its findings revealed that a debit card was procured on the deceased’s customer account on May 10, 2023 by Ifah Ogoh, one of the bank’s Sales and Service Associates which was authorised by the bank on the same date.

Further findings by the bank showed that the procured card by Ogoh was handed over to another Sales and Service Associates, Agbo Omwute who eventually delivered the card to an accomplice for transfer and withdrawal of funds from the account of the deceased. Several withdrawals were allegedly made by the suspects through the accomplice The suspects would be charged to court as soon as investigations are concluded.

Source: EFCC

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