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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LASG TO BEGIN IMPLEMENTATION OF E-CALL UP SYSTEM FOR LEKKI-EPE CORRIDOR FROM SEPTEMBER 23.(PHOTO).#PRESS RELEASE.

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 LASG TO BEGIN IMPLEMENTATION OF E-CALL UP SYSTEM FOR LEKKI-EPE CORRIDOR FROM SEPTEMBER 23


In a significant move to avert severe congestion by articulated trucks and improve the efficiency of logistics operations within the Lekki-Epe Free Trade Zone corridor, the Lagos State Government has announced the commencement of the e-call-up system for managing truck movements within the axis from 23rd September, 2024.


The commencement date was earlier extended on Stakeholders' request to give adequate room for full compliance. The e-call-up system is ready for implementation as a sustainable, effective and technology-driven solution for truck movement in the Lekki-Epe Corridor.


Disclosing the new commencement date, the State Commissioner for Transportation, Mr. Oluwaseun Osiyemi explained that the application of an e-call system will help synchronise the movement of trucks assessing the Lekki Deep Seaport and other industries within the corridor, starting from Eleko junction to Lekki Free Trade Zone.


Highlighting the State and Federal Government plans for road network expansion and intermodal transport systems to streamline vehicular traffic and enhance free movement in one of Lagos’ most critical economic zones, Osiyemi opined that the e-call system will control the corridor.


Also speaking on the development, the Special Adviser to the Governor on Transportation, Hon. Sola Giwa, who is saddled with the enforcement of the e-call-up system, stated that an interim arrangement is being put in place to decongest the roads through evacuation of all illegal tankers from the red zone by a joint TASKFORCE of the State, LGAs/LACDAs, Security Agencies and Stakeholders, urging truck operators and logistics companies to comply with the new system to ensure its success.


The e-call-up system, an advanced digital platform, is designed to regulate the entry and exit of trucks in the Lekki-Epe area by scheduling and coordinating their movements. This system will help prevent the chaotic traffic situations often caused by the indiscriminate parking and movement of trucks within the corridor.


The Lekki-Epe corridor, a key economic hub in Lagos, is home to numerous industries, including the Lekki Free Trade Zone, the Dangote Refinery, and the Lekki Deep Sea Port. The efficient movement of goods and services in this area is crucial for the state's economy, making the e-call-up system an essential tool for sustainable development.

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