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...

DRY INLAND PORT TO BEGIN OPERATIONS IN MAIDUGURI IN SIX MONTHS- GOV. ZULUM. (PHOTOS). #PRESS RELEASE.


 Zulum: Dry Inland Port to Begin Operations in Maiduguri in Six Months


Borno State Governor Babagana Umara Zulum has stated that the Maiduguri dry inland port will begin operations in six months.


Zulum made this known on Wednesday in Lagos while addressing journalists after a courtesy call to the Executive Secretary of the Nigerian Shippers Council, Pius Akutah.


The Governor expressed confidence that the establishment of the NSC, while providing job opportunities to young people, would also boost the state's economy.


He said, “Establishing the inland dry port in Maiduguri will bring many opportunities to the government and people of Borno state. It will generate employment, taking thousands of young children off the street. This is very important.


Zulum added, “Borno State shares a border with three countries, namely Niger, Chad and Cameroon. The inland dry port will enhance trans-border trade. This is what we are looking for. The relationship between our border countries will improve, the economy of the nation will grow very well, and our GDP will increase.


He also said, “We are trying to divert our attention from mono-economy, which is oil, by investing in other opportunities. I think Nigeria will be great soon.”


The Governor stated, “The Federal Government is working to ensure rail lines are rehabilitated under President Bola Tinubu’s initiatives. They are in the process of rehabilitating all the roads, and thousands of trucks are entering Maiduguri daily.”


He noted, “Establishing a good road system will fast track the process. Even in the absence of rail, the efficiency and effectiveness of the road transportation system are okay for now for the inland dry port. “We expect the project to be ready in six months.”


On his part, the Executive Secretary of NSC, Pius Akutah, noted that if established, the Maiduguri Dry Inland Port would boost transborder trade, considering that Borno is neighbouring three countries of Cameroon, Char and Niger Republics.


The NSC CEO said, “Like the Governor has said, it is important for Borno State as a border town to these three countries, to have an Inland Dry Port. The benefits that will accompany such cannot be overemphasised.


“With the African Continental Free Trade Agreement (AfCFTA) in place, you cannot overemphasize the need to have this kind of critical infrastructure in a place like Maiduguri, Borno State that has boundary with three countries within the area.


“I have been to Borno and I have seen the consistency of his Excellency in terms of his words and his passion for development of Borno State.


“When he said six months, I believe him and I know the work will be done. For instance, the transit park area the Excellency has developed has one of the critical infrastructure to even service the proposed IDP.


“Now, what needs to be done is for those involved to look at the political will of His Excellency to see how they can quickly agree among themselves for the project to become a reality


“This is business and the initiative is not for government to drive the day to day running of the inland dry port. It is a public private dimension and therefore, private sector driven. So the two entities involved should come together and fast track the process of harmosing and agreeing among themselves.”

More photos below. 





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