Bianca Ojukwu Raises Alarm Over Marginalization of Igbo Businesses

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Bianca Ojukwu, the widow of the late Igbo leader Odumegwu Ojukwu, has voiced her concerns about the treatment of the Igbo people by the federal and some state governments, particularly in relation to their businesses in different parts of the country.

In light of the recent demolition of properties and businesses owned by the Igbo in Lagos State, Ojukwu has alleged a longstanding conspiracy to marginalize the Igbo from the mainstream of Nigeria’s affairs, especially in governance. She cited instances of exclusion from federal projects and infrastructure, as well as marginalization in employment and university admissions.

Despite these challenges, Ojukwu urged Igbo youths to remain resilient, hardworking, and committed to education while shunning criminal activities and social vices.

Expressing her broader concerns about Nigeria, Ojukwu lamented the country’s economic, social, political, security, and judicial instability. She criticized the government for failing to implement policies and programs that would benefit the masses, accusing leaders of prioritizing personal enrichment and sectional agendas over national development.

Ojukwu highlighted the dire economic conditions faced by Nigerians, contrasting the luxurious lifestyles of government officials with the struggles of the masses. She criticized the government’s inability to address pressing issues such as insecurity, banditry, cultism, kidnapping, ritual killings, human and organ trafficking, and dishonesty, painting a grim picture of the state of affairs in the country.

Politics Nigeria

BF Borgers, an accounting firm owned by former US President Donald Trump, has been accused by the Securities and Exchange Commission (SEC) of engaging in widespread fraud and operating a “sham audit mill.” The SEC alleges that BF Borgers committed “deliberate and systemic failures,” including the fabrication of audit papers and false assurances to clients regarding compliance with accounting standards.

This fraudulent activity, described as “massive,” occurred between January 2021 and June 2023, impacting over 1,500 SEC filings and more than 500 public companies. As a consequence, the SEC has permanently barred BF Borgers from practicing as accountants before the agency and imposed a severe penalty, including a collective fine of $14 million against the firm and its owner, Benjamin Borgers.

In a statement, Gurbir Grewal, director of the SEC’s enforcement division, declared that Borgers and his “sham audit mill” have been permanently shut down. The SEC has notified public companies that engaged BF Borgers to seek new accounting firms.

Trump Media & Technology Group, chaired and majority-owned by Donald Trump, was among BF Borgers’ clients. While Trump Media may be the most high-profile client, BF Borgers served around 350 clients subject to SEC rules during the mentioned period. However, the SEC review only examined BF Borgers’ work for public companies, excluding its services to Trump Media when it was private.

Trump Media, despite its significant valuation on Wall Street exceeding $9 billion, generates limited revenue. Its social media platform, Truth Social, faces challenges, with a notable decline in average daily active US users on iOS and Android in April. Despite this, Donald Trump remains a prominent user on Truth Social.

In response to the SEC’s actions, a spokesperson for Trump Media expressed readiness to collaborate with new auditing partners in compliance with the SEC’s order. BF Borgers did not provide a comment on the allegations.

In summary, BF Borgers, owned by Donald Trump, faces severe consequences following accusations of fraud by the SEC. The firm’s practices, characterized as a “sham audit mill,” have led to permanent suspension and hefty fines. Trump Media, among BF Borgers’ clients, is navigating challenges despite its substantial valuation, particularly with its Truth Social platform experiencing a decline in user engagement.

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