Business is slow at the moment for Benedict Okafor, who sells luxury cars from a lot near the port in Nigeria’s financial capital, Lagos.

In the capital, Abuja, 535 kilometres (333 miles) away, the property market seems to be in a rut, with the habitual buyers — the monied elite — staying away.

“I normally sold five cars every month before” President Muhammadu Buhari came to power, said Okafor. “But in the past four months I have sold only one Toyota car.

“I guess rich people are scared.”

Jide Agboola, a real estate agent in Abuja, also attributed the current slump in conspicuous consumption to fear: “The fear of Buhari.”

It’s not hard to see why when Buhari’s promised crusade against high-level corruption has already snared a series of household names.

Senate leader Bukola Saraki — Nigeria’s third-most senior politician after Buhari and his vice-president Yemi Osinbajo — is facing charges of false declaration of assets.

Godswill Akpabio, the former governor of coastal Akwa Ibom state, was hauled in for questioning over claims he had stolen 108 billion naira ($540 million, 475 million euros) while in office.

Sule Lamido, the governor of Jigawa state in the north, and Gabriel Suswam, who was governor of Benue state until earlier this year, are also fighting accusations of graft.

At the same time, former oil minister Diezani Alison-Madueke, was arrested in London as part of a British investigation into suspected bribery and money laundering.

– Stopping the rot –

Buhari’s arrival in May appears to have given fresh bite to the fight against corruption, which has plagued Nigeria over decades of military rule then civilian administration.

Cases involving top officials that were long thought to have been shelved have been revived, as he seeks to fulfil his election promises of stopping the rot in the system.

“As soon as he (Buhari) came to power, without any direct instruction from him, the anti-graft agencies went into a frenzy, dusting down cases of corruption against some past officials which have been long dead in order to convince Nigerians that they are working,” Debo Adeniran, head of the pressure group Coalition Against Corrupt Leaders, told AFP.

The move was predictable for many: Buhari’s previous time in power as the head of a military regime in the 1980s was characterised by his so-called “War Against Indiscipline”.

“Everybody remembers Buhari’s antecedents when he was a military dictator,” said Bukola Daniel, a Lagos-based political scientist.

“He was a no-nonsense military ruler. The fear of Buhari is now all-pervading and everybody is careful not to be caught in a corruption web.”

– Witch-hunt? –

Nigeria’s main opposition Peoples Democratic Party (PDP), however, is crying double standards.

They point out that the former governors of Lagos and Rivers states, Babatunde Fashola and Rotimi Amaechi, have both been accused of graft but are still in line for ministerial posts.

Instead, the PDP described the anti-corruption drive as a “witch-hunt” against its members and other “perceived political opponents” of Buhari’s All Progressives Congress (APC) government.

Party spokesman Olisa Metuh denounced what he described as “the relentless victimisation of our key members”.

The APC dismissed the claim as a “worn-out argument”.

Certainly, Alison-Madueke’s arrest in particular has underlined to Nigeria’s elite that it’s no longer business as usual — even if Abuja has denied any direct involvement.

But Adeniran and others said Buhari needed to go further to avoid accusations of posturing.

Clement Nwankwo, head of the Policy and Legal Advocacy Centre, a pro-democracy group, said securing convictions would prove the situation was not just “rhetoric”.

“The challenge to corruption has to be systematic. That I have not seen,” he said.

“We also cannot fight corruption with the judiciary we have today,” he added, explaining the courts were ill-equipped to deal with corruption cases.

– ‘A few more Buharis’ –

For now, there is a sense that rich and powerful Nigerians — so long accustomed to impunity — are on their best behaviour.

How long it will last is unclear but social commentator and university lecturer Samson Olatunde Oduleye said Buhari’s influence could be decisive.

“If we have a few more Buharis and emphasis shifts to the root of the problem — the society — inroads can be made into a sustainable assault on the malaise,” he said.

“The most effective, non-legal check on corruption is the moral tone of society: societal values.

“There are things you will not contemplate doing even when there is no-

The African Entrepreneurship Programme (AEP) will be a new initiative between Pitch@Palace and The Global African Investment Summit (TGAIS) designed to develop the African private sector and stimulate innovation and technology throughout the continent. The AEP will support African entrepreneurs and young businesses in need of capital and mentorship to develop their businesses by giving them the opportunity to present and connect with potential investors.

It is great to see Dangote using his wealth, influence and power to encourage change and give up & coming entrepreneurs a chance to thrive. I hope to see plenty entrepreneurs applying to be part of this progamme, especially women!
Image Courtesy of Forbes
His Royal Highness’ commitment to entrepreneurship and enterprise development through his Pitch@Palace will provide support to the programme and will aim to strengthen ties with Africa.

Paul Sinclair, Director of TGAIS, said: “The Programme is greatly honoured for The Duke of York’s commitment to support entrepreneurship in Africa.”

HRH, former Nigerian President Olusegun Obasanjo and Mr Aliko Dangote, Africa’s most successful entrepreneur, will aim to provide ongoing support for young businesses and entrepreneurs selected by the Programme.

“Africa is a continent of growth and home to the world’s youngest population. We are very pleased to support Africa’s growth and develop its workforce through the AEP,” said Olusegun Obasanjo.

This year, The Global African Investment Summit will facilitate a meeting between young AEP entrepreneurs and businesses in order to showcase their business ideas to potential investors. Last year’s TGAIS attendees attracted 235 billion USD worth of managed funds.

The top three most talented entrepreneurs will present their business proposals to an audience of potential investors, mentors and CEOS at a Pitch@Palace event in London on the 1st December 2015.

The Atlanta rapper has apologized for smoking weed while carrying his son – after Child Protective Services and police in Georgia launched an investigation. He shared the pic on the right and wrote

“I would like to apologize to my son, (Royal) my fans and all the parents around the world.By no means would I do anything to hurt my son or any kid in the world.I regret that I chose to continue to smoke once Royal jumped in my lap. I am sorry for my actions. I will continue to strive to be the best parent I can be. “

He posted the video online himself and fans contacted Georgia police who then contacted CPS

Sean “Diddy” Combs is #1 on Forbes’ list of the world’s highest paid stars in hip hop, pushing off Jay Z and Drake on the 2015 “Hip Hop Cash Kings” tally, which was revealed on Tuesday.

45 year old Diddy  made an estimated $60 million between June 2014 and June 2015, from investments outside of music, such as his TV network Revolt and Ciroc vodka.

Runner up Jay Z, also 45, earned an estimated $56 million from business ventures in music, sports and lifestyle. His 22 shows with his wife, singer Beyonce, helped boost his earnings, Forbes said.

Canadian rapper Drake, 28, came in at No. 3 with $39.5 million, the bulk of which came from touring, as well as high profile endorsements from Sprite and Nike and his Apple collabo.

Dr. Dre has been doing for decades. Recently he’s spent more time making good money—$620 million last year, the highest annual payday of any musician ever, thanks to Apple’s $3 billion Beats buy—which is why it’s something of a surprise that he ranks No. 4 with $33 million, the result of smaller checks from Apple. He also exec-produced biopic Straight Outta Compton and released his long-awaited third album, both of which will boost his total on next year’s list.

#5 Pharrell $32 M. The “Happy” singer is one of the more diversified performers on the list, earning big checks from touring, music, his role as a judge on The Voice and his clothing lines.
 
Nicki Minaj was the only woman to crack into the top ten of the highest paid hip hop acts, coming in at No. 9 with $21 million from touring and endorsements.

Other hip hop moguls in the top ten include rappers Eminem who was # 6 and Kanye West.

U2’s Bono has become the world’s richest pop star after raking in nearly £1 billion from his Facebook shares. The Beautiful Day hitmaker bought a 2.3 per cent share in the social media network for £56 million in 2009 with the investment group that he co-founded, Elevation Partners. Today that share is worth a whopping £940 million, according to reports. That means that Bono’s venture has earned him more in the last six years than the whole of his incredible music career.


Now Bono takes over Beatles legend Sir Paul McCartney as the world’s richest pop star. The singer, who is married to Nancy Shevell, has an impressive £730 million. While Madonna has £520 million.

Facebook hit its own ‘billion’ milestone this week, when it had one billion users in one day.
The company went public in 2009.

Source: UK Mirror