Business
“Olu Jacobs Is Alive And Doing Fine,” Says Joke Silva
Renowned Nollywood actress, Joke Silva, has addressed the rumors about the demise of her husband, Olu Jacobs, putting the speculation which trended over the weekend to rest. This marks the second time rumors of the veteran actor’s death have surfaced on social media.
In an exclusive interview Diaspora Watch Joke Silva categorically stated, “My husband, Olu Jacobs, is alive and doing just fine.” She expressed her gratitude for the outpouring of concern from fans and colleagues, but reiterated that Olu Jacobs is in good health and actively pursuing his passion for acting. Olu Jacobs, fondly referred to as “Uncle Olu” by his peers and admirers, has had a profound impact on the Nigerian film industry. With an illustrious career spanning over four decades, he has bridged the gap between the old and new generations of actors. His extensive training at the prestigious Royal Academy of Dramatic Arts in England has equipped him to excel in various repertoire theaters in Britain and international films.
Jacobs’ remarkable talent has earned him numerous accolades, including the African Movie Academy Award for Best Actor in a Leading Role in 2007. He has been hailed as a godfather in Nollywood, paving the way for many emerging actors and actresses. His dedication to his craft has been recognized with the Industry Merit Award and Lifetime Achievement Awards at the Africa Magic Viewers Choice Awards and AMAA, respectively
Nigerian banks’ rush to upgrade their core banking systems has caused confusion and frustration for many customers. With banks upgrading to more secure software, the lack of communication and customer support has left millions unable to access their funds, sparking questions about the bank’s commitment to customer welfare.
Dr. Uju Ogubunka, President of Bank Customers Association of Nigeria (BCAN), emphasized the severe impact of these disruptions, stressing the need for better communication and customer preparedness during such transitions. Banks must strike a balance between technological upgrades and customer service to retain trust, especially in an economy facing devaluation pressures.
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As Nigeria commemorates its 64th Independence anniversary, the stark contrast between celebration and the persistent challenges of corruption, mismanagement, and unfulfilled promises becomes evident.
The editorial revisits historical attempts at reform, such as the Independent Corrupt Practices Commission’s (ICPC) prosecutions and the House of Representatives’ inquiry into the unfulfilled $14.5 million aircraft repair contract. Many of these initiatives have faded from public memory, leaving questions about accountability unresolved.
High-profile corruption cases, including the Halliburton scandal involving alleged bribes of $180 million, highlight systemic failures within the political landscape.
The editorial emphasizes the need for collective action from citizens, civil society, and the media to demand transparency and accountability. It warns that without addressing these entrenched failures, Nigeria’s path toward democracy and good governance may continue to be fraught with unfulfilled promises.
Dive into the world of Diaspora Watch and stay informed, engaged, and inspired.
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In a significant blow to Scotland’s energy sector, the 100-year-old Grangemouth refinery is set to close in 2025, citing its inability to compete with modern plants in Africa, Asia, and the Middle East. The refinery’s operator, Petroineos, announced the closure, which will result in the loss of 400 jobs.
Located in Scotland, Grangemouth refinery has been in operation since 1924, making it the country’s oldest and only refinery. However, despite its rich history, the refinery has struggled to remain competitive in the face of mounting global competition. Petroineos, a joint venture between PetroChina Internation al London (PCIL) and INEOS Group, a British chemicals firm founded by billionaire Sir Jim Ratcliffe, has invested $1.2 billion in the refinery since 2011.
However, the company has incurred significant losses, totalling over $775 million during the same period. According to Petroineos, the refinery is currently losing around $500,000 per day and expects a $200 million loss in 2024.
The company’s Chief Executive, Frank Demay, stated that the market for petrol and diesel fuels is expected to shrink further due to the upcoming ban on new petrol and diesel cars within the next decade. “Grangemouth is increasingly unable to compete with bigger, more modern and efficient sites in the Middle East, Asia and Africa.
Due to its size and configuration, Grangemouth incurs high levels of capital expenditure each year just to maintain its licence to operate,” Demay explained. The closure of Grangemouth refinery marks a significant shift in the global oil refining landscape, with modern and efficient plants in Africa, Asia, and the Middle East gaining a competitive edge. The Dangote Refinery in Nigeria, one of the largest refineries in Africa, may have contributed to the decline of Grangemouth refinery.
The refinery will be converted into a fuel import terminal, ensuring Scotland’s energy needs are still met. However, the closure raises concerns about the country’s energy security and the impact on local communities.
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