Metro

Bank of Zambia uncovers fraud scheme which duped victims of K17.9m

Published

1 year ago

November 1, 2023

The Bank of Zambia (BoZ) has uncovered a fraudulent scheme where victims were duped of over K17.9 million this year alone.

Governor of the Zambian Central Bank, Denny Kalyalya, who disclosed this at the 2023 World Savings Day commemoration held in Lusaka on Tuesday, said from the money, only 8.2 per cent of it was likely to be recovered as the operators of the scheme had “most likely already used the funds.”

Kalyalya went on to explain how unsuspecting members of public fell prey to the fraudulent investment schemes.

“In most cases, the fraudulent investment schemes promise higher and quicker returns than those available on legitimate investment or savings products. In many cases,” he said.

“These schemes do not have any underlying business activity that can generate income to distribute to investors.

“What normally happens is that the promoters or organisers use much of the money they collect on personal expenses and then some money is paid to a few investors to create the impression that the scheme is capable of giving investors an irresistible return on sums invested,” he said.

Kalyalya cautioned members of the public to be vigilant as they had much more power to stop these criminal enterprises altogether by simply stopping to deal with them.

“In recent years, the BoZ has observed a rise in the number of people that have fallen prey to money circulation scheme promoters and lost their hard-earned income thereby jeopardising their future.

“This development is troubling. Over the past five years, members of the public have lost a lot of money,” the BoZ boss said.

Related Topics:Featured Fraud. Bank of Zambia Zambia

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Metro

Finland-based Nigerians in panic as authorities search for Simon Ekpa’s sponsors

Published

3 hours ago

November 23, 2024

Isaac Dachen

Some Nigerians based in Finland have been thrown into panic mode following the arrest and detention of the self-styled Prime Minister of the Biafra Republic Government in Exile (BRIGE), Simon Ekpa, who was arrested on Thursday by Finnish authorities on terror-related charges.

Ekpa was arrested alongside four other individuals by Finnish authorities on suspicion of terror-related activities, including incitement to violence and financing terrorism.

The dissident had made himself infamous by using the social media to promote violent activities in southeastern Nigeria, including attacks and murder of civilians and security personnel.

According to some Nigerians in European country, following the arrest of the separatist leader and the four individuals suspected to be sponsors of his group known as IPOB-AutoPilots, the police have begun a manhunt for other sponsors, thus creating panic in the Nigerian community and those who may have had dealings with the agitator.

Several sources who spoke to journalists, said Nigerians in the European country are afraid of commenting on the arrest of Ekpa over fear of being attacked.

A Nigerian community leader, who spoke on the condition of anonymity for fear of victimisation, said that the Igbo community in the was gravely affected by the violent acts of the secessionist group.

“Everyone is afraid to speak about Ekpa’s arrest. The key people in Finland and the Igbo community at large are not ready to lend their voices either,” he said.

He added that some persons were being accused of reporting Ekpa to the police and were being threatened.

“A particular person they accused now, they’re after him. This happened before he (Ekpa) was even remanded; what will happen when they imprison him? Everyone is afraid. These people are very deadly.”

Another Nigerian who spoke acknowledged that there was serious tension among Nigerians in the country.

“People don’t want to speak about Ekpa for fear of being hunted by his followers. We believe that they will hunt whoever comes out to talk about their leader. But the Finnish Government is trying to get rid of the situation.”

Metro

65% of Nigerian households lack money for healthy food—Survey

Published

1 day ago

November 22, 2024

Isaac Dachen

A survey conducted by the National Bureau of Statistics (NBS) has revealed that around 65% of Nigerian households, which is about two-thirds of the population, lack the financial means to eat healthy food.

According to the survey by the agency, the decline is a reflection of the multidimensional poverty in the country and the impact of continuous reduction in the purchasing power of Nigerians due to rising prices of goods and services.

And as a result, two-thirds of households in the country lack money to eat healthy, nutritious food, the NBS said.

Titled “Nigeria General Household Survey – Panel (GHS-Panel) Wave 5 (2023/2024),” the survey examined demographics, education, and health trends in Nigeria, comparing data from Wave 4 (2018/19) and Wave 5 (2023/24).

On food insecurity, the survey stated:

“Approximately two out of three households indicated being unable to eat healthy, nutritious or preferred foods because of lack of money in the last 30 days.

“Similarly, 63.8 per cent of households ate only a few kinds of food due to lack of money, 62.4 percent were worried about not having enough food to eat, and 60.5 percent ate less than they thought they should.”

It added that between Waves 4 and 5, the proportion of households that reported being worried about not having enough food to eat because of lack of money increased significantly, from 36.9 percent to 62.4 percent.

On access to energy, the survey revealed said:

“82.2 percent of urban households have electricity, compared to 40.4 per cent in rural areas. Nigerian households face an average of 6.7 power blackouts weekly.

“Cooking typically involves traditional three-stone stoves (65.0 percent), primarily using wood as fuel (70.2 per cent), but with use of liquefied petroleum gas (LPG) rising significantly.

“Many households lack toilet facilities and rely on tube wells or boreholes for drinking water. Waste disposal is mostly informal, with 45.6 percent of households using bushes or streets,” it added.