Indications have emerged to the effect that BUA Cement Plc , at the weekend, increased the ex-factory price of its cement product by N200 per bag.
The cement manufacturer, it was gathered, unveiled its new price regimre from N2,800 to N3,000 per bag.
The latest development is contrary to BUA’s position that it does not have any justification to increase the price of cement as it is currently making enough returns.
BUA Cement, in various statements issued between April 24 and June 18 this year, had refuted claims of increase in the ex-factory price of its cement products by N300 per bag, stating that, “the company had no plans to increase prices of its cement now or in the near future.”
According to a statement issued on April 24, 2021, the company stated that, “the solution was not in an increase of ex-factory price at this period.”
The company, in its statement, had “reiterated its stand that the timing was not right for any increase in the price of major commodities, especially not at this period whilst Nigerians are still trying to recover from the economic consequences brought about by the Covid-19 pandemic – especially for a product for which all raw materials are locally sourced.”
On June 17, 2021, BUA Cement had issued a fresh statement titled ‘No Further Increase in the Price of BUA Cement’ in response to numerous clarification requests from its distributors and the public that the company does not seek to increase the ex-factory price of its cement in the foreseeable future.
“We are aware of the feedback and outcry from the public, and the government on the high retail price of cement in a period of economic recovery. BUA is also of the firm belief that the current retail prices of cement are higher than normal, hence our earlier communication not to increase ex-factory prices in the foreseeable future.
“As a responsible corporate entity, we refuse and reject associations with any actions that are deemed capable of projecting any industry we operate as a cartel. Hence, whilst we respect that the said company has decided to increase their prices, we are not questioning the reason(s) why, but would like to make clear BUA’s position on a price increase.
“The timing is not right for any increase on BUA’s part, and we do not have any justifiable business reason to increase our prices (ex-factory) anytime soon. We therefore urge our distributors not to panic as well as not engage in any arbitrary hike in the retail price of BUA Cement,” the statement read.
Industry sources informed that the BUA policy Somersault has generated ripples among distributors, retailers and consumers across the country, with many wondering what could be responsible for what a Lagos distributor, Chief Dickson Nathaniel, described as an ” embarrassing corporate policy reversal”
Van Vicker Finally Bags Varsity Degree — 24 Years After Secondary Education
The 43-year-old movie director, who is a renowned face in Nollywood, took to his Instagram page to recount the touching tale of his educational journey.
He said while his secondary schoolmates were enrolling at the tertiary institution in 1997, his single mother couldn’t afford to send him to school.
He also accompanied the post with a photo in which he could be seen wearing a graduation robe of the African University College of Communication (AUCC).
Vicker said he bagged first-class honours in Strategic Communications and was named the overall best in his set.
“21 years later, here I stand before you with 3 achievements during my graduation; to God be the glory. 1. 1st class honors. 2. Best Student in Strategic communication. 3. Best Communication Student Award,” the actor wrote.
“The above is within the context of my 2021 post on social media and is in no way presumptuous but uprightly to inspire. I could not enroll at a tertiary institution in 1997 because my single mother did not have the funds.
“If free SHS was available back in the day, most likely I would have graduated in 2000/2001. My career took off and I have been blessed but as someone who relishes education getting that degree was just a matter of time.
“I complete my Masters program this December and I am sorely motivated and committed to going even beyond, God willing. I thank all those who supported me and are supporting me during this journey.”
Vicker has appeared in hundreds of films including ‘My Soul Mate’, ‘Heart of Fire’, ‘Popular King’, ‘Gambling with Marriage’, ‘Harvest of Love’, ‘Stolen Will’, ‘The Joy of a Prince’, ‘Discovered’, ‘The Kingdom’ and ‘Against The Law’.
Hushpuppi Pleads Guilty To Fraud
United States Department of Justice (DoJ) in a statement on Wednesday said court documents show that Abbas, a 37-year-old Nigerian national, pleaded guilty on April 20.
A version of Hushpuppi’s plea agreement filed late Tuesday outlines his role in a school finance scheme, as well as several other cyber and business email compromise schemes that cumulatively caused more than $24 million in losses.
Acting United States Attorney Tracy L. Wilkison said Hushpuppi allegedly faked the financing of a Qatari school by playing the roles of bank officials and creating a bogus website in a scheme that also bribed a foreign official to keep the elaborate pretense going after the victim was tipped off.
Wilkison stated that Hushpuppi played “a significant role in the scheme, funded his luxurious lifestyle by laundering illicit proceeds generated by con artists who use increasingly sophisticated means.”
Kristi K. Johnson, the Assistant Director in Charge of the FBI’s Los Angeles Field Office said Hushpuppi “among the most high-profile money launderers in the world, has admitted to his significant role in perpetrating global BEC fraud, a scheme currently plaguing Americans.
“His celebrity status and ability to make connections seeped into legitimate organizations and led to several spin-off schemes in the U.S. and abroad,” Johnson said in the DoJ statement.
Hushpuppi and members of his gang were arrested while sleeping at their Dubai residences in June 2020.
The Nigerian fraudster was arrested along with Olalekan Jacob Ponle, also known as Woodberry and 10 others.
Mother Of 10 Loses 48 Years Marriage Over Denying Husband Sex
An Igando Customary Court in Lagos, on Wednesday, granted the request of her estranged husband, Mojidi, to dissolve the union.
The court president, Mr Adeniyi Koledoye, said that since the petitioner insisted on divorce after several interventions, the court was left with no option other than to grant him his prayer; and pronounced the union dissolved.
“The court hereby pronounces the marriage between Mr Mojidi Osho and Mrs Tolu Osho dissolved yesterday.
“Both of you henceforth cease to be husband and wife.
“Each of you should go his or her separate ways unmolested; the court wishes both of you well in your future endeavours,” Koledoye asserted.
The president ordered the petitioner to pay N250,000 to his wife as a severance fee and also pay another N250,000 for her to get a new accommodation.
The petitioner, a 72-year-old mechanic, Mr Mojidi Osho, had earlier told the court to nullify his marriage because his wife was denying him his conjugal right to sleep with her.
“The last time my wife allowed me to sleep with her was 10 years ago.
“I am starving seriously, but whenever I come home with my girlfriends, she will chase them away,” Osho said.
The septuagenarian also accused his wife of threatening to kill him so that she can inherit his property.
“My wife wanted to kill me; she has been feeding me with poison.
“There was a day I fainted and was rushed to the hospital and it was detected that I ate poison.
“I thought I will not survive it, but God saved me and I stopped eating her food,” he said.
The embattled man said his wife was a witch who kept attacking him in the spiritual realm.
“On two occasions, she shot arrows at me in my sleep which led to sicknesses, but God healed me.
“She also buried charm in my workshop and customers stopped patronising me.
“My wife made me impotent, but I survived it after spending huge amounts on hospital and herbal treatment,” he claimed.
“Tolu makes my life miserable, I would have gone far in life if I have not married her.
“I regret the day I met her and I wish I can turn back the hand of the clock,’’ Osho said.
According to him, Tolu stopped washing his clothes 27 years ago; h,e therefore, begged the court to end the marriage to save him from committing murder.
Responding to the allegations, the 68-year-old trader, Tolu, said that she denied her husband sex for only four years not 10 years as he claimed.
“I stopped him from making love to me four years ago when he started bringing different girls home to sleep with, after which he will want to sleep with me; so I refused him,” she stated.
The mother of 10 children denied threatening her husband’s life or attempting to kill him through poisoning.
“I did not poison my husband’s food since 1973 when we got married, is it now that I will poison him?
“He is just looking for excuses to discard me; he came to this court to divorce his second wife, now he wants to also divorce me so that he can marry a new wife,” Tolu said.
According to her, Osho is fond of invoking curses on their children, which is affecting their lives now.
The respondent begged the court not to grant her husband’s wish for the dissolution of their marriage, saying she still loved him
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