Tag Archives: Debts

Popular Jeweler Slaps T.I. With $700K Lawsuit

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T.I. may have to start mining for some gold of his own because at least one jewelry store is done with him, claiming he walked off with a ton of their bling and never paid up.

Aydin & Co in Georgia says in a new lawsuit it delivered an 18.5 karat white gold bracelet, a ring and yellow gold rosary to the rapper in 2014 and T.I paid $20k. Problem is … he still owes $44k.

That’s just the tip of the iceberg. According to the lawsuit, during the decade T.I. was one of its shoppers, he stiffed them out of more than $400k.

Altogether, Aydin’s gunning for T.I. to the tune of $700k. T.I. has however said the lawsuit is BS.

President Buhari Says The US And Others Will Assist Nigeria Recover Stolen Funds

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President Muhammadu Buhari on Tuesday said his administration had received firm assurance from the United States and other countries recover and return funds stolen from Nigeria.
According to a statement by the President’s Special Adviser on Media and Publicity, Mr. Femi Adesina, the President said it was now up to Nigeria to provide the international community with the facts and figures needed to drive the recovery effort.
He said:

“In the next three months, our administration will be busy getting those facts and the figures to help us recover our stolen funds in foreign countries,” Adesina quoted the President as saying.

The president made this statement to members of the Northern Traditional Rulers Council led by the Sultan of Sokoto, Alhaji Sa’ad Abubakar III, at the Presidential Villa, Abuja.

Citing the report submitted by the Ahmed Joda-led transition committee, President Buhari said that several revenue-generating institutions in the country had been compromised.
In regards to insecurity, the President said traditional rulers would play a key role in stemming terrorism and insurgency in the country.
This, he said, they would do by assisting the government with cost-effective intelligence gathering.
Buhari also assured the traditional rulers that his administration was working hard to end insecurity and terrorism in the country in the shortest possible time with the cooperation of neighbouring countries and the international community.
Acknowledging that Nigerians expected a lot from his administration, the President appealed for patience and understanding while his government works diligently to speedily overcome the huge national challenges it inherited.
The Sultan had earlier presented the Northern Traditional Rulers’ recommendations to the President on issues related to national development.

States’ Debts Block Access To N55bn UBE Fund

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About N55bn of the Universal Basic Education scheme has become inaccessible for 18 months by 27 state governments and the Federal Capital Territory because of their failure to contribute their matching grants to the scheme.

The Executive Secretary of the Universal Basic Education Commission, Alhaji Dikko Suleiman, in a letter dated June 9, 2015, a copy of which was obtained by The PUNCH on Tuesday, stated that only nine states had been up-to-date in the contribution of their matching grants to the scheme.

The letter was addressed to the law firm of human rights lawyer, Mr. Femi Falana (SAN), in response to his request for the information under the Freedom of Information Act.

An appendix attached to Suleiman’s response to Falana listed the nine states that had been accessing the UBE fund as Adamawa, Anambra, Borno, Imo, Gombe, Kano, Katsina, Sokoto and Taraba. It revealed that Ebonyi was the most-indebted state with its last contribution to the scheme made in 2010.

The letter also revealed that Abia, Akwa Ibom, Benue, Cross River, Delta, Edo and Ekiti states were among the 14 states which last contributed to the scheme in 2012. Others included Enugu, Kogi, Nasarawa, Niger, Ogun, Ondo and Oyo.

Other 12 states which last contribution was in 2013 are Bauchi, Bayelsa, Jigawa, Kaduna, Kebbi, Kwara, Lagos, Osun, Plateau, Rivers, Yobe, Zamfara and the FCT.

Under section 2 of the Universal Basic Education Act 2004, the Federal Government is expected to contribute two per cent of the Consolidated Revenue Fund of the Federal Government to the scheme while the state governments are expected to contribute a matching grant of the same amount before they can access the fund.

Read More: punchng