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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WE DID NOT FIX N600/LITRE PETROL PRICE- DANGOTE. (PHOTO).

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 We Did Not Fix ₦600/Litre Petrol Price — Dangote


The management of the Dangote Refinery has dismissed reports of a fixed petrol price of ₦600/litre, calling them “speculative announcements” with no basis.


This was contained in a statement signed on Tuesday by the Group Chief Branding and Communications Officer, Dangote Industries Limited, Anthony Chiejina.


The denial comes following reports by some publications, that the refinery was in talks with oil marketers, and that petrol may sell for as low as ₦600 per litre.


The company, however, emphasised that it has not partnered with the Independent Petroleum Marketers Association of Nigeria (IPMAN), and will communicate through official channels.


It states, “Our attention has been drawn to headlines announcing “Marketers Project N600/litre for Dangote Petrol” published in Punch Newspapers on Tuesday, August 13, 2024.


“We would like to clarify that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is not our business partner yet.


He further said, We have never discussed the price of Premium Motor Spirit (PMS) with them, and they have no mandate or authority to speak for us, either for good or with hidden transcript.


“We urge the public to desist from such speculative announcements. We have our official channels through which we make our views known to our stakeholders.”

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