Peter Okoye from P-Square recently spoke up about his money laundering case against his older brother, Jude Okoye. He made an emotional statement after testifying in Lagos court on April 14, 2025. Peter said keeping quiet for more than 20 years almost ruined him completely. He warned others not to let family relationships keep them silent when facing betrayal.
The Economic and Financial Crimes Commission filed the lawsuit claiming Jude controlled all P-Square money without Peter knowing. Reports indicate that Jude was the only person who could sign for accounts at three major banks, allegedly moving money into his company called Northside Music Limited. Peter told the court he only found out about money problems in 2022, despite many...
Choppies Zimbabwe has left the country after facing economic problems. The retailer once ran 30 stores with 1,000 employees but sold its business to Pintail for $260,000. Pintail belongs to Deputy Industry Minister Raj Modi, who previously sold his SPAR stores to Choppies for $22 million back in 2013. The Botswana company decided Zimbabwe needs more money than they can invest right now.
Despite having $2 million in assets, including property, equipment, and $1.4 million in stock, Choppies lost $1 million on the sale. Government exchange rate rules made it hard for regular stores to compete with street vendors. These policies force official businesses to use the bank rate, making their products cost more than items from sellers who skip...
Health workers across Zimbabwe steal medicine from public clinics to sell on the black market because they earn very little money. A new report from Transparency International Zimbabwe shows that these workers pass drugs to street vendors who mark up prices for sick people. Many common medicines, like Ciprofloxacin, cost vendors about $2 for ten tablets but sell for $1 per single tablet on the streets. The same medicine costs just $3.50 for 100 tablets in neighboring Zambia. This shows how much profit these informal sellers make.
The underground drug trade happens because health workers struggle with tiny paychecks, poor working conditions, and weak oversight at hospitals. People buy these medications without proper medical guidance or...
Australian company Invictus Energy plans to merge two agreements with Zimbabwe's government to speed up oil project development after recent discoveries. The company will combine its existing exploration agreement with its production sharing agreement. This change aims to make administration easier for the Cabora Bassa Project located in the Muzarabani district. The unified agreement creates a stable legal framework for gas operations in Zimbabwe.
Invictus board members recently visited Zimbabwe, where they met government officials, local leaders, investors, and potential partners. During these meetings, everyone agreed to combine both agreements into one document. The company believes this decision improves the regulatory structure of...
China linked arms with Zimbabwe through two fresh agreements focused on airport upkeep and transport training. Officials signed deals covering maintenance at Victoria Falls International Airport and technical teamwork between Zimbabwe airport officials and China Jiangsu International. The Chinese company previously upgraded the Victoria Falls facility back in 2016.
Zimbabwe hopes these partnerships will help it gain valuable skills and knowledge from Chinese experts as it expands airport operations across the country. Deputy Transport Minister Joshua Sacco praised the Chinese company for helping modernize transport systems, which he said boosts national industrial growth. He described the agreements as part of a continuing friendship...
NBS Bank saw its profits soar to K72.99 billion after tax in 2024, marking a 148 percent increase from K29.38 billion in 2023. The financial statement released by the company shows that net interest income reached K160 billion, up 139 percent from K67 billion last year. This growth came from expanded money market investments and their loan book, which grew by K366 billion and K86 billion, respectively. Non-interest income climbed to K45.19 billion from K34.95 billion, thanks to higher trade finance volumes and more customers using digital platforms. Foreign exchange trading brought additional gains for both the bank and its subsidiary, NBS Forex Bureau Limited.
Operating expenses rose 57 percent to K75.84 billion due to new business...
Financial experts urge Malawians to seek help from established banks during tough economic times. Select Financial Services, a micro-lender serving government workers, believes credit access has become essential for families facing rising living costs. According to Akuzike Kafwamba, the head of Select Financial Services, many people struggle to secure loans from traditional banks. Low-income earners often turn to informal options like Village Banks, where interest rates remain high with strict repayment rules.
Kafwamba encourages people to consider established financial institutions that offer better terms for borrowers. Select Financial Services plans to create new financial solutions addressing client needs as economic challenges...
Zuckerberg once considered deleting all Facebook friend lists to boost usage. Internal emails from 2022 revealed he considered this idea when worried about Facebook losing cultural relevance. The Meta CEO wanted to test this approach in a smaller country first before rolling it out widely. He believed that if Facebook failed, the entire company would fail despite successes with Instagram and WhatsApp. Facebook executive Tom Allison expressed doubts about the plan working, noting friend counts were a key platform feature.
Zuckerberg admitted during Monday's FTC antitrust trial hearing that the company never implemented the idea. The Federal Trade Commission presented these internal communications as evidence during the ongoing legal...
Fast boats will start running between St. Petersburg and Kronstadt on April 19, seven days earlier than officials first announced. The Kotlin catamarans can carry about 200 passengers each trip. Vice Governor Boris Piotrovsky said good weather and the start of tourist season moved up the launch date. The boats travel from the city to Kronstadt in just one hour. Passengers will arrive at the Island of Forts dock.
The local shipyard built these vessels specifically for city water routes with low bridges. City leaders expect about 880,000 tourists during the spring holiday period from April 30 through May 11, a five percent increase from last year. The service proved popular last year, when these same routes carried more than 106,000...
