Ayeiroyin

The Nigerian Senate has stated that the ponzi investment scheme, MMM , is a pyramid that would soon collapse, warning Nigerians to be wary of the Russian originated investment model which involves directing clients to make money available for an anonymous person with a promise of 30 per cent return within one month . The Chairman , Senate Committee on Banking , Insurance and other Financial Institutions, Senator Rafiu Adebayo Ibrahim and other members of the committee alerted Nigerians to the dangers of buying in to MMM , while speaking in an interview . According to Ibrahim , “ Any Financial institutions of any kind that is not under the regulation of a Regulator such as MMM is a pyramid that will soon collapse . We engaged the CBN and they have issued a statement in the recent past. So Nigeria should be wise and know that there is no free money any where. One wonders which investment can yield 30 % flat any where in the world . ” For Senator Gbolahan Dada , APC , Ogun West , ...

Nigeria youths have established toothpicks and pencils in Akure, the Ondo State capital, under the sponsorship of the National Directorate of Employment. The establishment, where over 250 graduates are currently working, is said to be the first of its kind across Africa. The local toothpicks production in country was said to have been conceived by a young graduate who convinced the management of the National Directorate of Employment that the product could be produced with bamboo stems. At the inauguration of the factory in Akure, the Acting Director-General of the NDE, Mr. Kunle Obayan, said the NDE’s sponsorship of the project was part of the agency’s effort towards complementing the micro-economic policies of the Federal Government, aimed at stimulating local production of goods. He explained that some young graduates approached the agency early this year with the proposal to set up the factory to produce toothpicks, adding that the agency accepted the proposal because it was p...