Family of late popular Lagos socialite, Angela Onyeador, at war over her estate

The family late Angela Onyeador-Mayson left behind are at war over her estate and have begun dragging one another to court, Encomium reports.
The property in contention include:

• a storey building on 29, Balarabe Musa Crescent, Victoria Island, Lagos,
• the deceased’s Lagos residence
• her art gallery
• and the one on Plot 167, Adetokunbo Ademola Street, Wuse Zone 2, Abuja.

The parties in contention include the adopted kids of the late socialite, Ikem and Adaora, and Angela’s late brother’s children: Alexander, Martin, Thomas and Nkemdilim Onyeador.

The adopted kids recently dragged Angela’s late brother’s children to an Ikeja High Court to restrain them from tampering with Angela’s real and personal estate.

In the meantime, a heavy presence of security operatives currently man the contentious property on 29, Balarabe Musa Crescent, Victoria Island, Lagos owned by late Angela Onyeador-Mayson. Encomium reports that the street is heavily guarded by mobile police men, another security personnel manned the entry point of the late Onyeador’s residence.

 

Chinese Man Successfully Sues Wife, Wins $120,000 for "Incredibly Ugly" Child

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A man in northern China filed a lawsuit against his estranged wife this month after he deemed their newborn to be "incredibly ugly" and blamed the child's appearance on his mother's unattractive genes.
And the guy actually won $120,000 as a result.

Chinese Man Sues Wife Over Ugly Baby                   

Jian Feng said in court documents that he married his wife "out of love," but that the couple began having "marital issues" soon after the birth of their daughter.
She was "incredibly ugly," Feng said. "To the point where it horrified me."
Feng initially accused his wife of having an affair, only for the truth to eventually come out:
She had spent in excess of $100,000 on plastic surgery, duping Feng into believing he had married a natural beauty.
Appalled by this instance of false advertising and angry that he did not learn of it until after the couple had procreated, Feng took his wife to court and was awarded $120,000 in a settlement.
Equally incredible? The outpouring of support - FOR FENG! - among social media users in China.
“When you are in a true relationship, you tell your spouse everything. Past present and future – if not, then you don't respect them,” one male wrote on Facebook.

Wande Coal releases new photos; Mavin Records releases statement on Wande Coal’s departure

Barely 24 hours after his tweet fight with former record label, Don Jazzy, Wande Coal released some new photos

Meanwhile, the management of Mavin Records has released a press statement stating the departure of Wande Coal.
Read statement below:
“It is with deep regret that we officially announce the departure of recording artist Wande Ojosipe, popularly known as Wande Coal, from Mavin Records due to irreconcilable differences.

Over the past few months, Mavin Records has made a concerted move to consolidate its position in the Nigerian music industry. Mavin has pursued a renewed ethos to raise its standards of quality and professionalism to a world-class level. Wande’s vision has not aligned with ours and a few months ago all parties mutually agreed that a separation would be the best course of action.
Legal parties on both sides have spent the past six months trying to reach an amicable solution in terms of musical property rights. However, the decision by Wande Coal to release ‘Baby Face’ purportedly as his own material is a direct breach of intellectual property law and compelled an immediate clarification on our part.
Both Mavin Records and Wande Coal have enjoyed a remarkable run in the course of their working relationship. It is unfortunate that conflicting priorities contributed to the premature curtailment of a hitherto fruitful accord.
Mavin Records reaffirms its goal to constantly provide high quality music to our fans and introduce new and exciting talents into the industry.
We wish Wande Coal the best of luck in all his future endeavours”.
Signed
Management
Mavin Records Ltd

 

FG clears air on re-introduction of toll gate on Nigerian roads

 The Federal Government said Thursday that the purpose of reintroducing tolling system into the management of the Nigerian roads was to help boost the road sector across the country.

The Federal Minister of state of works Amb. Bashir Yuguda, made this known during the Federal Roads and Bridges Tolling Policy consultation forum in Abuja, saying that the re-introduction of the tolling policy would open the sector to both local and international investors.
He said that the fact that over 90 per cent of economic and social activities are run on the Nigerian roads put so much pressure on them, adding that as such so much funds are needed to maintain the roads to keep them in motorable condition.
“The economy is doing well, the road transport account for over 90% of the movement of road and services in the country any nation no matter how advance you are, almost 90% of the movement of goods and services in this country is on road and that calls for regular maintenance.
Yuguda noted that it would be run on a Public Private Partnership basis unlike in the past where it was run in a public service method with all its trappings of inadequacies and mismanagement.
According to him, federal government had come up with a comprehensive policy to back up the tolling system with a view to avoiding the pitfalls of the past.
He urged all the participants to deplored their professional acumen in coming up with a robust policy document that would enhance seamless operation of the tolling policy.
“I urge  you  to have robust discussion on how  we can  come up with comprehensive policy on our roads. We have developed a template and  we will  subject to review, after which we will now come up with the final document to take to the federal council for the approval of the council and the approval of the President, Yuguda added.

 

Twitter Prices IPO At $26 Per Share

Twitter Prices IPO At $26 Per Share

Twitter, the quirky 140 character messaging service that’s become a global phenomenon, priced its initial public offering at $26 per share, valuing the seven-year-old company at over $18 billion.

Twitter (TWTR) will raise $1.8 billion to fund future expansion by selling 70 million shares, which will open for trading on Thursday morning on the New York Stock Exchange. Some analysts say the shares are worth $50 or more, so the price could explode higher once trading begins.

Started in 2006 as a simple way to share short messages and status updates among friends, Twitter has grown to 232 million active users who post 500 million tweets per day about everything from personal thoughts to celebrity gossip and breaking news.

The deal is the highest profile Internet IPO since Facebook (FB) raised $16 billion last May. And Twitter could rank as the second-largest debut of a U.S. Internet company in history if it ultimately surpasses the $1.92 billion raised by Google (GOOG) in its 2004 IPO, according to Dealogic. Underwriters of the Twitter deal have the option to sell up to another 10.5 million shares, if needed, under a standard IPO clause called the greenshoe option, pushing the total value to over $2 billion.

Twitter goes public as a much smaller company. It brought in just $534 million of revenue for the 12 months ended September 30 leading to a net loss of $137 million. Facebook had revenue of $3.7 billion and $1 billion of profit when it went public.

The deal makes Twitter co-founder and former CEO Evan Williams a billionaire, at least on paper. Williams owns 56.9 million shares of Twitter, worth $1.5 billion at the IPO price. Jack Dorsey, another co-founder, owns 23.5 million shares worth over $600 million.