Business
Nigerian Faces 149 Count Fraud Charge In New York
The penchant for quick money by most young Nigerians in the diaspora has now taken another dimension, as most of them now use their wealth of academic wherewithal to wreck havoc on the lives of their unsuspecting victims by defrauding them without recourse to conscience whether they are right in such atrocious act.
It is appalling to see that as anti graft agents in Nigeria (EFCC and ICPC) are working to quell corrupt practices and economic crimes right here in Nigeria, some Nigerians in the diaspora are still neck-deep in corruption and mudslinging the image of Nigeria for self aggrandizement.
Adeniyi Adeyemi, 27, of Brooklyn has been summarily made to face 149 counts, including grand larceny and identity theft. He used his job as a computer technician to appropriate the identities of more than 150 employees at the Bank of New York Mellon and stole more than $1.1 million from a wide array of nonprofit groups and other institutions, said recently. The technician of Crown Heights, was charged with grand larceny, identity theft, money laundering, scheme to defraud, computer tampering and unlawful possession of personal identification information in a indictment.
The149-count checks revealed that the fraud started in November 2001 and lasted through April of this year, according to the office of the Manhattan district attorney, Robert M. Morgenthau, which is prosecuting the case. Using his position as a contract employee in the information technology department at Bank of New York Mellon, Mr. Adeyemi stole personal identifying information from dozens of employees, using the information to more than 30 bank and brokerage accounts in their names at E*Trade, Fidelity, Citi, Wachovia and Washington Mutual, Mr. Morgenthau said.
Mr. Adeyemi then diverted money from the bank accounts of charities, transferred the funds to the dummy accounts, and later withdrew the money or funneled it into a second layer of “dummy accounts,” Mr. Morgenthau said.
Among the charities Mr. Adeyemi is said to have stolen from are Goodwill Industries, Iris Ministries, the Kalgidhar Trust, the Sudanese American Community Development Organization, Ravi Zacharias International Ministries, the American Community School at Beirut, the Jacksonville Humane Society, American Friends of Birdlife International, the International Association of Women Judges, the Space Generation Advisory Council, and the American Association for Clinical Chemistry.
Mr. Adeyemi is also alleged to have bought more than $100,000 in money orders from the Postal Service using funds stolen from the employees whose information he took. The New York/New Jersey Electronic Crimes Task Force of the United States Secret Service began surveillance on Mr. Adeyemi after tracing suspicious Internet activity to his apartment. During a court-authorized search in April, investigators found dozens of bank employees’ credit reports on his computer, along with many other identifying documents for more than 150 employees, Mr. Morgenthau’s office said.
Mr. Adeyemi was arrested and has been held in custody since then. He was to be arraigned in State Supreme Court before Justice Carol Berkman. Kevin Heine, a spokesman for Bank of New York Mellon, said in a statement, “We strongly support the investigation and actions taken by the district attorney’s office, and are fully cooperating.”
It was however gathered that Adeyemi was only caught when he got greedy and decided to steal from his ID-theft victims directly and investigators realized so many of them worked at Bank of New York, said Chief Assistant DA Mark Dwyer.
Investigators are hinting that Adeyemi worked as part of a ring, and may have used some of his stolen fortune to buy his way into a sham marriage that enabled him to stay in the US. A bank spokesman Kevin Heine declined to comment on the case, except to say, “We strongly support the investigation and the actions taken by the DA’s office and are fully cooperating.”
Business
USTR Criticises Nigeria’s Import Ban On Agriculture, Others
The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.
Business
Expert Seeks Cooperative-Driven Investments In Agriculture
A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.
Business
NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers
The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.
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