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Controversial Demolitions, Banking Scandals, and Major Gas Deals: Latest News Highlights

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Diaspora watch newspaper-vol.20

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Recent headlines have highlighted significant developments across various sectors, from real estate controversies in Nigeria to major banking scandals in Canada and landmark energy agreements.

Demolition Controversy in Lagos
In Nigeria, Stella Okengwu, a real estate investor, has voiced her outrage over the demolition of WinHomes Global Estate, a $250 million property allegedly ordered by Minister of Works David Umahi. The estate, situated in Okun Ajah, was razed on October 5, 2024, without prior notice or legal justification, sparking claims of targeted actions against diaspora property owners. Okengwu, representing a substantial number of diaspora investors, has called for an urgent investigation into alleged corruption within the Federal Ministry of Works, emphasizing the impact on investors who contribute significantly to the Nigerian economy. She has urged President Bola Ahmed Tinubu to intervene, especially as he encourages diaspora investments.

TD Bank’s Money Laundering Scandal
In North America, TD Bank has made headlines by pleading guilty to aiding money laundering activities, agreeing to pay a staggering $3 billion fine. U.S. prosecutors revealed that the bank failed to implement adequate anti-money laundering controls for nearly a decade, allowing criminals to transfer hundreds of millions in illicit funds. TD Bank’s CEO, Bharat Masrani, has taken full responsibility and announced his retirement amidst the scandal. This case marks the first instance of a major U.S. lender admitting to conspiracy to commit money laundering, raising concerns about the need for stricter regulations in the banking sector.

Landmark Gas Supply Agreement in Nigeria
On a more positive note, the Nigerian National Petroleum Company (NNPC) has signed a groundbreaking gas sales agreement worth $3.3 billion with international energy giants Shell, TotalEnergies, and Agip. This agreement aims to supply gas to a methanol plant in Bayelsa State, representing a significant step in monetizing Nigeria’s vast gas reserves. The project is expected to generate over $1.5 billion annually from exports of petrochemicals and fertilizers, reducing the country’s reliance on crude oil. This deal highlights the potential for growth in Nigeria’s energy sector, especially amidst ongoing discussions about energy diversification.

UK Government Faces Challenges with DP World
Meanwhile, in the UK, the government is under pressure to resolve a dispute with DP World regarding the treatment of staff at P&O Ferries, which has threatened a £1 billion London port expansion. The controversy arose when P&O Ferries replaced nearly 800 British seafarers with cheaper workers, leading to backlash from Transport Secretary Louise Haigh. This situation complicates the UK’s International Investment Summit, aimed at attracting global investment and boosting the economy, particularly in light of recent political instability. The outcome of negotiations will be closely monitored by investors and industry experts as they assess the UK’s reputation as a reliable investment destination.

These stories collectively illustrate the dynamic and sometimes tumultuous nature of global markets, highlighting the interconnectedness of real estate, banking, energy, and trade sectors.

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Diaspora Watch – Vol. 42

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Dive into the 42nd Edition of Diaspora Watch!

Explore the intersection of global politics, entertainment, and lifestyle with our latest edition.

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The big question on everyone’s mind is Trump’s Tariffs: A Threat to American Jobs or a Boost to Automation? Meanwhile, sports fans will be thrilled to know that Cristiano Ronaldo is making his Hollywood debut with an action-packed film studio venture.

In a heartwarming story, a Nigerian nurse who had been working in the US has made the bold decision to return home in search of a more fulfilling life.

This edition also shines a spotlight on Nigeria’s Diaspora Commission Chairman, who has been honoured in Saudi Arabia for his outstanding contributions.

Other highlights include an in-depth analysis of the US-China trade war, which has intensified with Trump slapping a 104% tariff on Chinese goods.

You won’t want to miss the Diaspora Watch editorial on the need for ambassadors, followed by a report on the Nigerian government’s commencement of screening for ambassadors.

In sports, Aston Villa is hoping to lure Ademola Lookman with Champions League qualification. The back page is dedicated to this exciting development.

Grab your copy of the 42nd edition of Diaspora Watch today and stay up-to-date on all the latest news and trends.

Diaspora Watch Vol. 42

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Cristiano Ronaldo Makes Hollywood Debut With Action-Packed Film Studio Venture

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Cristiano Ronaldo, the renowned Portuguese footballer, has embarked on a new venture, marking his debut in the film industry.

Partnering with British film producer Matthew Vaughn, Ronaldo has co-founded an independent film studio called UR•MARV. M

This 50-50 joint venture has already led to the production and financing of two action-packed films, with plans for a third installment in the same series.

The financial specifics of the joint venture have not been disclosed, but the investment comes at a time when streaming platforms like Netflix and Disney+ are increasingly backing independent filmmakers.

This trend provides a global distribution network that can help UR•MARV’s  films reach a wider audience and fuel the growth of the independent film industry.

Ronaldo shared his excitement about this new chapter in his business career, stating, “This is an exciting chapter for me, as I look ahead to new ventures in business.”

His partner, Vaughn, praised Ronaldo’s creativity on the football pitch, saying, “Cristiano has created stories on the pitch that I could never have written, and I look forward to creating inspiring movies with him  he’s a real-life superhero.”

At 40 years old, Ronaldo has significantly expanded his business portfolio over the last decade.

His investments include stakes in a hotel chain, a porcelain manufacturer, and a media company in Portugal.

He has also recently acquired a tennis and padel club in Lisbon.

Moreover, Ronaldo has expressed an interest in owning football clubs once he retires, further broadening his business interests.

Ronaldo, who currently plays for Saudi Arabian club Al Nassr with a reported annual salary of around $200 million, continues to shine on the field.

Although he has not yet revealed when he plans to retire from professional football, his business ventures are likely to keep him busy in the years to come.

Vaughn, on the other hand, has built a reputation for reinventing action cinema with his sleek, fast-paced approach and a flair for blending humor with high stakes drama.

He made his directorial debut with the gritty crime film Layer Cake (2004) and quickly followed up with bold, genre-defying hits like Kick-Ass (2010) and X-Men: First Class (2011).

Vaughn’s big breakthrough came in 2014 with the launch of the Kingsman series—a high-octane spy saga known for its slick visuals, tongue-in-cheek tone, and explosive set pieces, all under the banner of his production company, Marv.

Most recently, he directed Argylle (2024), a globe-trotting espionage adventure starring Henry Cavill and Bryce Dallas Howard. With two more Kingsman films on the horizon, Vaughn shows no signs of slowing down.

The partnership between Ronaldo and Vaughn marks a new era for UR•MARV, with the potential for exciting and action-packed films to reach a global audience.

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Diaspora Diva – Annette Nneka Echikunwoke

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Diaspora Diva - Annette Nneka Echikunwoke

Annette Nneka Echikunwoke was born on July 29, 1996, in Ohio, United States. She is a Nigerian-American hammer thrower who has made a name for herself in the world of athletics. Annette’s athletic career began in school, where she won the shot put and discus throw at a sports day event. She later attended the University of Cincinnati, where she was a member of the track and field team.

In 2017, she won the NCAA Division I Women’s Indoor Track and Field Championships in the weight throw event. In 2020, Annette elected to represent Nigeria at the Olympic Games. However, she was disqualified due to the negligence of the Athletics Federation of Nigeria. The federation failed to conduct the required out-of-competition drug tests, which led to the disqualification of Annette and nine other Nigerian athletes. Despite this setback, Annette continued to pursue her athletic career.

In 2021, she set four successive Nigerian and African records in the hammer throw event, with a personal best of 75.49m. She is currently ranked seventh in the world in the women’s hammer throw. Annette switched allegiance to the United States and represented the country at the 2024 Summer Olympics. She won a silver medal in the women’s hammer throw event, with a throw of 75.48m. This was the first Olympic medal for the United States in the women’s hammer throw event.

Diaspora Diva - Annette Nneka Echikunwoke

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