SOUTH KOREAN POLICE SEEK ARREST WARRANT FOR HYBE CHAIRMAN BANG SI-HYUK OVER ALLEGED $100 MILLION INVESTOR FRAUD SCHEME. (PHOTO).

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 South Korean police seek arrest warrant for Hybe chairman Bang Si-Hyuk over alleged $100 million investor fraud scheme    South Korean police are seeking an arrest warrant for Bang Si-Hyuk, the billionaire music executive behind K-pop powerhouse Hybe and BTS, as part of an expanding investigation into allegations that he improperly benefited from an investor scheme involving more than $100 million. Authorities said they have asked prosecutors to pursue a court warrant for Bang’s arrest as they continue probing claims that he misled investors in 2019. Investigators allege he told investors that Hybe had no plans for an initial public offering, leading them to sell shares to a private equity fund. The company later went public, and police suspect a separate arrangement may have resulted in Bang receiving a substantial payout tied to post-IPO stock profits. Bang’s legal team has not directly addressed the specific allegations but said he has cooperated with investigators an...
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CUSTOMS TCIP GENERATES N575B IN 6 MONTHS WITH 221.13% REVENUE INCREASE. (PHOTO).

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 Customs TCIP Generates N575B in 6 Months with 221.13% Revenue Increase


The Nigeria Customs Service, Tincan Island Port Command, has generated revenue to the tune of N575,505,612,804.59 from January to June 2024.


The Customs Area Controller, Comptroller Dera Nnadi, disclosed this to Newsmen during the Commands Half Year Performance Report at the Maritime Reporters Association of Nigeria (MARAN) Secretariat, Apapa, Lagos on Friday, 12 July, 2024.


According to the Area Controller, having the press briefing at the MARAN Secretariat aligns with the Comptroller General of Customs, Adewale Adeniyi's policy thrust.


He said the revenue of N575.5 billion shows an increase of 221.13% compared to the 2023 fiscal year’s first-half revenue collection of N260,256,942,120.69 Billion.


"For January – June 31, 2024, TCIP achieved a revenue collection of N575,505,612,804.59. This is an improvement by N315,248,670,683.90 Billion and a 221.13% increase from the Fiscal Year 2023 first half revenue collection of N260,256,942,120.69 Billion,’’ he disclosed. 


On Anti-Smuggling, the CAC stated that the command recorded seizures of arms, ammunition, and Illicit substances, among others, all with a Duty Paid Value of over N8.9 billion naira within the period under review. 


He stated that the command’s enforcement and anti-smuggling unit has not been relenting to combat smuggling and all forms of criminality. 


"Customs, the lead agency at the Ports through its enforcement unit, has coordinated several 100% physical examinations under my supervision in collaboration with critical stakeholders to ensure that the command is freed of any form of non-compliance to the international trade cycle," the CAC said. 


The Area Controller acknowledged modest gains and developments at the command since the launch of the Time Release Study (TRS), adding that the findings will be formally released by the Comptroller-General of Customs, Adewale Adeniyi.

More photos below. 




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