PUTIN WARNS OF GLOBAL CLASH AS RUSSIA MARKS VICTORY IN WORLD WAR II. (PHOTO).

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 Putin warns of global clash as Russia marks victory in World War II Russian President Vladimir Putin accused the West on Thursday of risking a global conflict and said no one would be allowed to threaten the world’s biggest nuclear power as Russia marked the Soviet Union’s victory over Nazi Germany in World War II. As Russian troops advance against Ukraine’s Western-backed forces, Putin accused “arrogant” Western elites of forgetting the decisive role played by the Soviet Union in defeating Nazi Germany, and of stoking conflicts across the world. “We know what the exorbitance of such ambitions leads to. Russia will do everything to prevent a global clash,” Putin said on Red Square after Defense Minister Sergei Shoigu reviewed troops lined up in a rare May blizzard. “But at the same time, we will not allow anyone to threaten us. Our strategic forces are always in a state of combat readiness.” Putin, who sent his army into Ukraine in 2022, casts the war as part of a struggle with the We
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FEMI OTEDOLA OPENS UP ABOUT HIS BUSINESS RELATIONSHIP WITH TONY ELUMELU.(PHOTOS).

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Billionaire businessman Femi Otedola opens up on his relationship with businessman Tony Elumelu, his Transcorp shares deal, and why he offered N250bn to buy the company, which he says was rejected. 

Read his statement below...
In 2005, while Tony was the Managing Director of Standard Trust Bank he approached me to get funds to acquire UBA. I enthusiastically gave him $20million, which was N2 billion at that time to buy the necessary shares in UBA for the acquisition. After a short period of time the share price moved up and I decided it is was a good moment to sell and get out of the bank. However, Tony appealed to me to hold on to the shares as he was convinced that there were future prospects - so I kept the shares.

I became Chairman of Transcorp Hotel in 2007 with a shareholding of 5% and unknowingly Tony gradually started buying shares quietly. 

By the following year in 2008 I went bankrupt in Nigeria. Tony proceeded to take my shares in UBA to service the interest on my loans and he also took over my shares in Africa Finance Corporation, where I was the largest shareholder. 

Shortly after, Albert Okumagba informed me that an American firm wanted to acquire my shares in Transcorp, which I then agreed to sell. However, this supposed American firm turned out to be Tony Elumelu. The revelation of this prompted me to resign as Chairman of the hotel. 

Years later in 2012 Tony said he wanted to see me so we met in my office where I had previously had a meeting with foreign investors who had not yet departed the premises. Curious to know, he asked what sort of meeting I had had and I disclosed that I wanted to go into the power business, specifically Ughelli Power Plant. Tony quietly went ahead to bid for Ughelli and he outbidded me by offering to buy the plant for $300m.

And as a some would say: the rest is history. 

Fast forward to the present…

I offered to buy Transcorp Plc for N250 billion, but unfortunately, my offer was rejected. My goal was to maximize the company's potential as a Nigerian conglomerate with a market cap of at least N2 trillion instead of the current N40 billion, but it seems some shareholders have a different vision.

More photos below .



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