₦airaland Forum

A legal battle has emerged between a Kwara-based website/graphic designer, Abdulazeez Adewale Adekanye, trading under the name Sanctum Zeez Graphics, and Providus Bank Plc. The case, filed at the Federal High Court, Lagos Division, seeks redress over allegations of contractual breaches and rights violations by the bank.

According to court documents, the plaintiff, claims that Providus Bank unlawfully placed a Post No Debit (PND) restriction on his bank account without a court order. The restriction allegedly resulted in financial losses and infringed on his constitutional right to ownership of moveable property.

The lawsuit, identified as Suit No: FHC/L/CS/218/2025, presents several key legal questions, including whether the bank had the authority to impose an indefinite PND restriction without proper legal backing. Additionally, the plaintiff challenges Providus Bank’s justification for the restriction, which was reportedly linked to alleged inflows from accounts domiciled at Fairmoney Microfinance Bank on November 24, 2024.

In his claims, Adekanye is seeking a court declaration that Providus Bank owes him a fiduciary duty of care under the existing banker-customer relationship. He also seeks a ruling that the bank’s actions constituted a violation of his constitutional and property rights. The lawsuit further argues that a bank cannot impose an indefinite PND restriction without a properly instituted court order. The plaintiff is demanding that the restriction be lifted immediately and is requesting N50 million in damages, N20 million for breach of contract and N30 million for the violation of his rights, alongside N3 million to cover legal costs.

The lawsuit also challenges Providus Bank’s reliance on a 2015 circular from the Central Bank of Nigeria (CBN) as a basis for the restriction, arguing that the directive does not permit indefinite restrictions without due process. The case raises significant questions about the extent of banks' authority in managing customer accounts and the legal boundaries of financial regulations.

Neither Providus Bank nor its legal representatives have publicly responded to the lawsuit as of press time.

Sterling Bank Limited has been indicted as the Independent Corrupt Practices and Other Related Offences Commission (ICPC) seeks the temporary forfeiture of N1,373,180,510.07 Kaduna State fund allegedly hidden in the bank.

The fund is believed to have been diverted from the Kaduna Light Rail Project’s budget into the account of a private company.

Although the project was funded by the government of former Governor Nasir el-Rufai, it was never executed.


The commission reported tracing N1.373 billion to an account belonging to Indo Kaduna Marts JV Nig. Ltd.

The anti-graft agency stated that the money was “allegedly diverted into a private account.”

While a source confirmed a Joint Venture agreement between the Kaduna State Government and the company in 2016, the ICPC revealed that N11,099,579,455.14 was deposited into the company’s account between December 23, 2016, and January 17, 2017, before the company was registered with the Corporate Affairs Commission (CAC).


According to ICPC findings, the company was registered with the CAC on the 10th of May, 2017.

ICPC made the revelations in a motion ex-parte before the Federal High Court, Kaduna Division on Friday February 14th, 2025.

No date has been fixed for the hearing of the motion bordering on the activities of Kaduna State Government during the Nasir el-Rufai administration.


The ICPC wanted the forfeited cash which is currently in the custody of the Central Bank of Nigeria (CBN), to be returned to the Kaduna State Government for the use of the people of the state.

The motion was brought pursuant to section 17(1), (2), (3), & (4) of the Advance Fee Fraud and other fraud related offences Act 2006, Section 48 (1), ), (2), & (3) (a) & (b) of the Corrupt Practices and Other Related Offences Act, 2000, Sections 7, 8, 9, 10 11 and 12 of the proceeds of crime: (Recovery and Management) Act, 2022 and Section 6 (6) (a) of the 1999 Constitution of the Federal Republic of Nigeria (As amended)

The ICPC asked for the following reliefs:


An order of this Honourable Court temporarily forfeiting the sum of N1,373,180,510.07 (One Billion, Three Hundred and Seventy-Three Million, One Hundred and Eighty Thousand, Five Hundred and Ten Naira, Seven Kobo) being an amount allegedly diverted into a private account to wit: Indo Kaduna Marts JV Nig Ltd, and was recovered into the commission’s recovery account domiciled with the Central Bank of Nigeria in the course of an ongoing investigation activity against officials of Kaduna State Government between 2015 and 2023.

An order of this Honourable Court directing the Applicant to publish a notice in any two (2) national newspapers calling for persons whether human, juristic of artificial having interest in the moveable property to show cause in court why the aforesaid moveable property should not be permanently forfeited to the Federal Government of Nigeria. And for such further or other orders as the Honourable Court may deem fit to make in the circumstances.

In an affidavit in support through a Litigation Officer, Idris Abubakar, ICPC said it “received a petition against officials of Kaduna State Government under the administration of Mallam Nasir El-Rufai. A copy of the petition is attached and marked as Exhibit ICPC 1.


“The commission, during preliminary investigation, retrieved relevant documents from Sterling Bank Limited relating to financial transactions involving Kaduna State Government.

“The commission’s investigators analysed the documents retrieved from Sterling Bank Limited and the analysis revealed the following:

“The Kaduna State Government had a purported joint venture agreement with the Respondent signed on 18th October, 2016. A copy of the joint venture agreement is hereby attached and marked as Exhibit ICPC 2.

“The joint venture agreement was for the construction of light rail service for the State Government.

“Thereafter, Respondent opened a bank account with Sterling Bank Limited on the 15th day of December, 2016.

“Prior to the opening of the bank account for Indo Kaduna Mrts JV Nigeria Limited, the company was not incorporated with the Corporate Affairs Commission.

“That following the opening of the account with the Sterling Bank Limited, former Governor of Kaduna State, Mallam Nasir Ahmad El-Rufai, approved the lodgment of a total sum of N11,099,579,455.14 into Indo Kaduna Mrts JV Nigeria Limited account from various accounts of Kaduna State Government in different tranches into the Respondent’s account.

“Kaduna State Government began funding the account of Indo Kaduna Marts JV. Nigeria Limited with an initial deposit of N890,300,000 (Eight Hundred and Ninety Million, Three Hundred Thousand Naira) from the Kaduna State Single Treasury Account on the 23” day of December, 2016.

“On the 10th day of January, 2017, the sum of N2,300,000,000.00 was received by Indo Kaduna Mris JV Nigeria Limited from the office of the Accountant General Kaduna State.

“Subsequent deposits of N3,000,000,000.00 and N4,909,279,455.14 were made into the said account from Kaduna State through the office of the Accountant General of the state on the 17th day of January, 2017

“That the N11,099,579,455.14 lodged into the Respondent’s account was dissipated before the formal registration of Indo Kaduna Marts JV Nigeria Limited with the Corporate Affairs Commission.

“The total sum received into Indo Kaduna Mrts JV Nigeria Limited from Kaduna State Government accounts was N11,099,579,455.14. A copy of the account statement of Indo Kaduna Marts JV Nigeria Limited is hereby attached and marked as Exhibit ICPC 3.

“That the Respondent (Indo Kaduna Mrts JV Nigeria Limited) was formally registered with the Corporate Affairs Commission on the 10th day of May, 2017. A copy of the incorporation documents is attached and marked as Exhibit [CPC 4.

“The N11,099,579,455.14 was meant for the provision of light rail services for the use of the people of Kaduna and Nigerians in general.

“There was no such project executed by the Kaduna State Government as revealed in the course of investigation.”

ICPC said its investigation revealed further that:

▪Among the signatories to the account of the alleged unregistered company were officials of Kaduna State Government and the Indian representative of Skipper Nigeria Limited.

▪Sometime in January, 2017, the Group President of Skipper Nigeria Limited, one Jitender Sachdeva, (vide a letter dated the 17* day of January, 2017, instructed Sterling Bank Limited to fix the N11,099,579,455.14 in an interest-yielding account. A copy of the letter is hereby attached and marked as Exhibit ICPC 5.

▪The interest on the fixed deposit amounted to the sum of N326,823,818,68.

▪Investigation also revealed that the interest on the fixed deposit was diverted to different accounts of Skipper Nigeria Limited domiciled with Sterling Bank Nigeria Limited. Copies of the said account statements are hereby attached and marked as Exhibits ICPC 6 & 6A respectively.

▪ On the 10th day of July, 2019, N10 billion was returned back to Kaduna State Government from Indo Kaduna Marts JV Nigeria Limited account with Sterling Bank Limited.

▪The balance of N1,046,300,000.00 was diverted in two (2) tranches of N890,300,000.00 and N156,000,000.00 to the account of GTA Engineering Nigeria Limited domiciled with Sterling Bank Limited and Access Bank Plc. Copies of the account statements of GTA Engineering Nigeria Limited of both banks are hereby attached and marked as Exhibits ICPC 7 & 7A respectively.

▪Investigation further revealed that GTA Engineering Nigeria Limited is a subsidiary of Skipper Nigeria Limited.

▪From investigation activities, no official of Kaduna State Government was a signatory to the bank accounts of Skipper Nigeria Limited and GTA Engineering Nigeria Limited except Indo Kaduna Marts JV Nigeria Limited.

▪ The alleged N1,046,300,000.00 transferred into accounts of GTA Engineering was tagged “payment for feasibility study” but investigation revealed that no such feasibility study was carried out.

▪The commission has recovered both the N1,046,300,000.00 transferred to GTA Engineering Limited accounts of Sterling Bank Limited and Access Bank Plc for the alleged feasibility study and the interest on the fixed deposit of the N11,099,579,455.14 from Sterling Bank Limited.

▪I know as a fact that the grant of this application will not affect the rights of any interested person to own property as guaranteed under the Constitution of the Federal Republic of Nigeria, 1999.

▪ The diversion of the alleged sum has deprived the people of Kaduna State the benefits of rail transportation system the money was meant for.

▪ This application seeks the Honourable Court’s indulgence to repatriate the recovered sums back to Kaduna State Government to enable the Government channel the money to more people-oriented projects.

In a heartwarming display of love and generosity, Springfield Private School and Bosede Idehen International Academy (SPS/BIIA) marked Valentine’s Day by reaching out to an orphanage, reinforcing their commitment to nurturing compassion alongside academic excellence.

This philanthropic tradition is not new to SPS/BIIA, as the institution has consistently made efforts to support orphanages over the years. Speaking to the press, the Director of SPS/BIIA, Mrs. Maureen Idehen-Ovabor, emphasized the importance of instilling the value of love and generosity in students.

"While we focus on academic excellence, it is equally important to teach our students the essence of love and empathy. I always tell them that there are people with fewer opportunities, and it is our duty to extend kindness to them," she stated.

Mrs. Idehen-Ovabor highlighted that while she could have simply sent gifts to the orphanage, she wanted her pupils and students to personally experience the joy of giving. "This initiative allows them to see firsthand the impact of their generosity. Many of them personally bought gifts, and the happiness they felt while sharing was truly remarkable. When children learn the habit of giving early, it becomes a lifelong value."

She further noted that SPS/BIIA aims to nurture not only intellectual growth but also character development. "We are shaping future leaders—leaders who will not only excel academically but also have empathy for those around them. Our impact extends beyond the classroom; we are grooming a generation that values humanity."

As the school continues its outreach efforts, Mrs. Idehen-Ovabor reaffirmed SPS/BIIA’s dedication to fostering a culture of kindness and social responsibility. "This is more than just a Valentine’s Day celebration; it is a lesson in love, gratitude, and giving. We are honored to make a difference in the lives of children who may not have the same privileges as others."

The event was met with enthusiasm from students, who expressed their joy in being part of such a meaningful initiative. With this outreach, SPS/BIIA once again proves that education is not just about knowledge but also about shaping compassionate and responsible individuals.

Primate Elijah Ayodele, leader of the INRI Evangelical Spiritual Church, has called on Guaranty Trust Holding Company (GTCO) and its Group Chief Executive Officer, Segun Agbaje, to withdraw the ongoing legal case against four journalists currently facing trial over alleged cyberstalking and defamation.

Speaking at his annual Thanksgiving Ceremony held at INRI Estate, Oke Afa, Lagos, Primate Ayodele emphasized the need for compassion and justice, urging Agbaje to allow the journalists to reunite with their families.

"I use my position as a man of God to appeal to Segun Agbaje and GTCO to withdraw this case against the journalists and stop subjecting them to unnecessary hardship. Justice should not be weaponized to silence the press. If there are grievances, they should be resolved amicably, not through prolonged legal battles that infringe on their fundamental rights," he stated.

The detained journalists—Precious Eze, Olawale Rotimi, Rowland Olonishuwa, and Seun Odunlami—have been held at the Ikoyi Correctional Centre since their arrests in September by the police Special Fraud Unit (PSFU) in Ikoyi. They are accused of conspiracy, cyberstalking, and publishing false allegations against GTCO and its CEO.

Despite pleas from their legal counsel, Justice Ayokunle Faji of the Federal High Court in Ikoyi denied their bail application, prolonging their detention. The case has been adjourned to February 19 and 20, 2025, for the continuation of the trial-within-trial.

Primate Ayodele further cautioned against using legal means to intimidate journalists, stressing that press freedom is a pillar of democracy. He urged GTCO and Agbaje to demonstrate leadership by embracing dialogue over litigation.

"Journalists play a crucial role in society. They must not be treated as criminals for doing their jobs. I urge those involved to embrace reconciliation and fairness, rather than legal persecution," he added.

The new Chairman, Board of Management of the Federal Medical Centre, Idi-Aba, Abeokuta, Dr. Dayo Israel may walk on roughshod upon assumption of office as a group of concerned staff of Federal Medical Centre, (FMC), Idi-Aba, Abeokuta has petitioned him over an alleged embezzlement of their hard earned salaries through cooperative savings.


The group in the petition had accused the Deputy Director, Finance and Accounts Department, Idowu Olaleye, of fraudulently mismanaging their funds to the tune of five hundred (N500) million naira.


The petitioners claimed that, the Mr. Olaleye allegedly embezzled the money and defrauded staff of the institution of their hard earned money.

The petition reads in part: “We are constrained to draw your attention to the fraudulent activities, stealing, mismanagement of funds and sharp practices which is a very serious misconduct and a punishable offence according to Public Service Rules (PSR) being perpetrated by a staff Mr. Idowu Samuel Olaleye.

“Sir, we are empowered by law as a Civil Servant via a circular HCSF/PS/SDO/90/1/152 released from the Office of the Head of Civil Service of the Federation (HoCSF) dated 3rd November, 2021 titled “DEPLOYMENT OF ANONYMOUS REPORTING SYSTEM (ARS) ACROSS ALL MINISTRIES, DEPARTMENT AND AGENCIES (MDA’s)” please find attached Appendix (1) for your consideration.


“The officer who is the Chief Accounting Officer of FEDERAL MEDICAL CENTRE FEMSTAFF CONCEPT/FEMSTAFF PROGRESSIVE CMS has criminally embezzled and defrauding the members of FEMSTAFF CONCEPT/FEMSTAFF PROGRESSIVE CMS to the tune of over Five Hundred Million Naira (₦500M) of their hard earned salary.

“Sir, we can authoritatively confirmed to you that a staff of this Centre, Mr Aina B.O (Deputy Director) Nursing Services Department who is a member of FEMSTAFF CONCEPT/FEMSTAFF PROGRESSIVE CMS is a living witness as a result of not been able to access his savings of over two decades which amounts to two digits Millions of Naira for several months now even after the completion of yearly savings as designed ‘Target Savings Scheme’ of FEMSTAFF Cooperative. Also, Mrs Erinle of Public Relations Department of the Centre and so many other staff whose names cannot be mentioned in this petition but can be verified by forensic auditing.


“Moreover, we wish to also expose the extravagant lifestyle of Mr Idowu Samuel Olaleye which ordinarily unbecoming of a civil servant who proudly boast of his several Millions worth of properties including fleet(s) of Exotic Cars/SUV’s also uncountable landed properties with different Housing Estates not to mention his personal mansion built-in with State of the Art Technology which he fraudulently acquired by proxy but cannot accounted for it with the hard earned savings and deductions from monthly salaries of cooperators into the FEMSTAFF CONCEPT/FEMSTAFF PROGRESSIVE CMS.

“However sir, we strongly believe that you will use your good office to carry out a thorough due diligence investigation into this allegations which is tantamount to serious embarrassment to this Hospital and Federal Government Institution under your Supervision as the Chairman of the Board of Management as such officer is not expected to hold any sensitive position which he’s currently a Divisional Head of Budget, Finance and Accounts Department of the hospital, hence the law is no respecter of anyone, no matter how influential or highly placed.


“We promised to continue working with you in our maximum capacity showing and total support to expose the scrupulous elements with wrongdoings in the Centre in accordance with the guiding rules and regulations in the Public Service.

“The officer who is the Chief Accounting Officer of FMC Femstaff Concept and Femstaff Progressive CMS has criminally embezzled and defrauded members to the tune of over Five Hundred Million Naira of their hard earned salary.


“However sir, we strongly believe that you will use your good office to carry out a thorough due diligence investigation into this allegations which is tantamount to serious embarrassment to this Hospital and Federal Government Institution under your supervision as the Chairman of the Board of Management as such officer is not expected to hold any sensitive position which he is currently a Divisional Head of Budget, Finance and Accounts Department of the hospital, hence, the law is no respecter of anyone, no matter how influential or highly placed”, the petition reads

Meanwhile, in his reaction, Olaleye denied any wrongdoings, stating that the petitioners were once beneficiaries of the scheme.

“Those who gave you this sham of a write-up were once beneficiaries of the system they are working hard to pull down.

“I already have a case of criminal defamation against them before the Commissioner of Police, Ogun State Command. They think I can be gagged by putting this in the public domain.

“They’re jesters, and I don’t perceive you (journalists) as one. He who asserts MUST prove”, he averred.

The Speaker of the Lagos State House of Assembly, Princess Mojisola Lasbat Meranda, has committed a bill to establish the State's research trust fund to a sub-committee of the House.

Meranda also emphasised the need for tertiary institutions in the state to partake in effective research works for the benefit of the state.

This was as the bill, sponsored by a member of the House, Hon. Gbolahan Yishawu, scaled second reading on the floor of the House.

The proposed law is aimed at creating a 'state research trust fund for the allocation, management and administration of the trust fund and for connected purposes'.

Supporting the bill, lawmakers praised the sponsor and noted that it would help advance the state.

Yishawu told his colleagues that the bill was important as it would help drive innovation, economic growth, and technological advancement in the state.

According to him, Lagos, as Nigeria’s economic hub, cannot afford to lag in scientific and technological development.

He argued that a well-structured research and development funding system would enhance governance, stimulate industrialisation, and position the state as a leader in innovation.

He also stressed that the bill, when passed, would touch every facet of Lagos.

Dissecting the bill, some of the lawmakers raised concerns over taxation but agreed that the bill was important.

Hon. Noheem Adams stressed that funding would help to provide a veritable opportunity for researchers to come up with results that help societies.

According to him, when Alexander Graham Bell invented the telephone, "it would have been difficult to visualize that a day would come when we will all have a handset in our pockets."

The ad-hoc committee is expected to fine-tune the bill ahead of further processes leading to its passage.

By Ebere Agozie



A Senior Advocate of Nigeria (SAN) Mohamed Ndarani says the exclusion of Edu state from the list of proposed new states is a sign of continuation of the marginalisation of the Nupe people in Nigeria.



Ndarani, reacting to the House of Representatives Constitution Review Committee’s proposed creation of 31 additional states made the assertion in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja.



He said that the proposal does not reflect the Renewed Hope Agenda of President Ahmed Tinubu of fairness, equity and justice, adding that creation of Edu State will serve the interests of the long-marginalised Nupe people.



He frowned at the idea that creation of Edu state from the present Niger state with its vast landmass and natural resources; was not mentioned as one of the proposed new states.



The senior lawyer said that Niger state has everything it takes to sustain an additional state which was the reason behind the desire for the creation of Edu State.



``Niger State’s geographical mass is unquestionably more than that of the entire Southeast and equal to that of the Southwest. It is vast and has a variety of solid minerals.



``The proposed Edu state is a prospective oil-producing state, and would be a viable and developed state with a capital in Bida’’, he said.



Ndarani noted that Niger remained the only state from which a new state has not been created, adding that Edu state would comprise various groups from the present Niger, Kogi, and Kwara states.



``Our national assembly members of Nupe origin from Kwara, Niger, and Kogi states, and the FCT should not fail to lend their support to the creation of Edu state.



``Such a position will be registered by the people of their respective communities as a colossal failure.



``The original request for Edu state was presented to the National Assembly in September 2022 by a delegation of Nupe elders, leaders and representatives from Bida, Agaie and Lapai emirates.



``The request clearly meet with the provisions of section 8 subsections 1, 2 and 3 of the 1999 constitution (as amended), which form part of the best proposal, but was shortchanged by self-centered people and enemies of Nupe land’’.



He stressed that they were motivated by the economic viability of the proposed state and the endorsement by the 2014 national conference.



``The conference recommended the creation of Edu state, however, from the list released by the House of Representatives of states to be created, Edu state was missing.



``It should be noted that any attempt by the National Assembly to exclude a genuine proposal like Edu state will be challenged in the court of law’’.



He said the agitation for the creation of additional states in Nigeria had been a sustained discussion, with proponents arguing that it would promote effective governance and development in the country.



``It will spread development across the area, and help bring the much touted dividends of democracy to the door steps of the average citizen.



``It will also create more new jobs and ensure more rapid and even development of rural and urban areas, while enhancing the citizens’ living standards.



``Looking at the history of the creation of states, it has been an exercise that has brought about development; it has also brought government closer to the people’’, he said.



He said the creation of Edu state would expand the scope and platform for more citizens of the state to express themselves and utilise their potential.



NAN recalls that the Deputy Speaker of the House of Reps. Hon. Benjamin Kalu has said that that the 30 applications for new state creation in Nigeria are invalid because they do not meet the constitutional requirements.



Kalu urged the applicants to comply with the constitutional procedures outlined in Section 8, Sub-sections 1 to 3 of the 1999 Constitution (as amended).



He explained that to create a new state, the constitution requires a two-thirds majority vote in the Senate, the House of Representatives, State Houses of Assembly, and local governments.



NAN recalls also that state creation began in Nigeria on May 27, 1967, when the administration of Gen. Yakubu Gowon abolished the regional structure of the country and created 12 states.



His successor, Gen. Murtala Mohammed, created an additional seven states in 1976, which brought the total number to 19.



Gen. Ibrahim Babangida, created 11 more states, bringing the number to 30 until 1996, when the late Gen. Sani Abacha, added six states, making it the current 36 states.

Cool Financial Services, a Lagos State-based finance house, has sued First City Monument Bank (FCMB) for allowing Goewe and Sons Ltd., one of its borrowers, to withdraw a N150 million loan sum from an account with an active freezing instruction.

Goewe and Sons Ltd. is a merchandise company owned by Ewere Godwin Orobosa. In July 2023, the company first approached the finance house for a N100 million loan at a 3.5% interest rate for a duration of 30 days.

Again, in September 2023, the company obtained an additional loan of N50 million at an interest rate of 1.5% for a month, bringing the entire loan to N150 million.

The borrower intended to pursue a contract and needed to have the said amount in its bank account, but the loan was not to be used to execute the potential contract.

Both Goewe and Sons Ltd. and Cool Financial Services then instructed FCMB to freeze the loan account so that the loan sum could remain untouched for the period of the transaction, according to a loan agreement dated September 18, 2023.




The borrower had earlier written to the bank to alter its account mandate through a board resolution dated September 15, 2023. The borrower appointed Ewere-Egharevba Orobosa, representing the borrower, and Roseline Anibueze, representing the lender, as ‘Category A’ signatories to the account.

The directive further specifically stated that the representative of the lender shall have the power to authorise any withdrawal below N150 million from the account while any withdrawal exceeding that amount shall be jointly authorised by the two signatories.

“Those measures were put in place to guarantee compliance with the terms and conditions of the loan facility,” Oluwafemi Adediran, head of the legal unit at the finance house, told FIJ on Wednesday.





After the loan duration expired, the lender wanted to withdraw it. So, on October 23, 2023, the finance house presented a transfer cheque at the Chevron branch of FCMB in Lagos confident that the money was intact. But the cheque was dishonoured and the bank revealed that the borrower had already withdrawn the loan.

“Upon our investigations and findings, we became aware albeit shocked that you disregarded the lien on the account and processed a loan of N150,000,000 (one hundred and fifty million naira) on the back of the restricted facility meant only as proof of funds. What is more, we are alarmed not only by this act but by the temerity and obviously premeditated criminal falsification of the signatures of the representatives of our client as signatory ‘A’ before the consummation of the unauthorised mindless transaction,” Justice John, a legal practitioner, wrote to a business manager at Sanusi Fafunwa Branch of FCMB and the FCMB managing director on behalf of the lender on September 26, 2023 and October 26 respectively.



On October 25, 2023, the lender visited the Sanusi Fafunwa Branch. There, Chukwuma Chukwuka and Isiaq Babatunde, both officials of the bank, appealed for a cure period of 72 hours to remedy the situation. An additional 48 hours was given to the bank to sort out the issue internally, according to a November 2023 court filing signed by Anibueze.

Those cure periods were not adhered to. On October 31, FCMB through Tosin Talabi and Akin Akintola, both legal counsel and head of litigation for the bank, said it had commenced an investigation into the issue.

“In accordance with our internal procedure, we have commenced investigations into the issues raised in your letter under reference and shall revert to you shortly with the bank’s position once the investigation (sic) is concluded,” the legal counsel wrote.


“At the time we went to the bank to verify how the money was withdrawn, we found out that the freezing instruction was still active on the account. We observed that our director’s signature was forged to make the withdrawal. The question the bank has not answered is, ‘How was it possible to withdraw money from an account with an active no-withdraw order?'”

More than a year after the letter referenced above, the bank was yet to reveal the findings of its investigation.

SEEKING REDRESS THROUGH COURT
In November 2023, the lender filed a suit marked FHC/2377/2023 before a Federal High Court in Lagos seeking to recover losses it had incurred as a result of what it considered “a criminal conspiracy”.

Sued in the lawsuit were FCMB as the first defendant, the borrower as the second defendant and the Central Bank of Nigeria (CBN), FCMB’s regulator, as the third defendant.



“A declaration that the action of the 1st defendant amounts to breach of fiduciary duties owed to the plaintiff,” the first leg of the relief read.

“An order directing the 1st defendant to immediately pay the plaintiff its capital in the sum of N150,000,000 (One Hundred and Fifty Million Naira Only) with (an) interest rate of 21% per annum or at the prevailing Central Bank of Nigeria’s rate from October 23, 2023, when the plaintiff’s transfer request was dishonoured by the 1st defendant despite the plaintiff’s account being funded; and without any satisfactory explanation by the 1st defendant to the plaintiff.

Read full story below 👇
https://newsextra.com.ng/cool-financial-sues-fcmb-over-n150-million-withdrawal-from-frozen-account/

Members of the Lagos State House of Assembly on Thursday listed some achievements of the Bola Tinubu-led administration describing the President as a blessing to Nigeria.

Speaking during plenary, the lawmakers took time to eulogise the President saying he came into office at a time when Nigerians were at a crossroads over the country's socio-economic status before the 2023 elections.

Raising the motion, Hon. Tobun Abiodun (Epe I) told his colleagues that the policies initiated by Tinubu had begun to yield positive results in less than two years of his being in office.

Tobun noted that the country's GDP had been boosted following Tinubu's economic expertise. According to him, this is further reflecting in the current continuous strength of the Naira.

“Currently, the policies are yielding positive results and the Gross Domestic Product (GDP) has increased. The value of naira is gradually gaining strength.

"There is no more fuel scarcity anymore in the country. We need to encourage the federal government to continue on the good pedestrian it started two years ago," Hon. Tobun said.

In his contribution, the Majority Leader of the House, Hon. Adewale Temitope (Ifako-Ijaiye I) said the President's steps had shown that he was prepared before he took the baton of leadership.

Temitope said the Federal Government under Tinubu continues to meet the yearnings of Nigerians citing the refineries that are in operation and that have led to drops in the price of Premium Motor Spirit (PMS).

He re-echoed the efforts and sacrifices made by Tinubu, who he described as a true democrat, for the continued successes and strength of the ruling All Progressives Congress (APC) both in the state and the nation.

He said the House remains committed to the ideals of the party, its leadership and the Governance Advisory Council (GAC), a team of elders that continue to guide the party in Lagos.

On his part, Hon. Gbolahan Yishawu (Etim Osa II) praised the President for his fight against insecurity and his reducing inflation.

Contributing to the debate, Hon. Aro Moshood (Ikorodu II), commended the President for the upward review of the country's minimum wage, his investment drive that has seen the country securing over $40 million and for assuaging the effects of the removal of subsidy.

Speaker Mojisola Meranda expressed optimism that the President would meet the yearnings of Nigerians.

“I know President Tinubu will take us to the Promised Land. When he started, it was rough but it is becoming obvious the policies are yielding results.

“This is a positive result happening within the short time Tinubu came into power. Tinubu’s investment in the security architecture is also yielding results as we have insecurity reducing," she said.

She directed the acting Clerk of the House, Abubakar Taiwo Ottun, to send a commendation letter to the President acknowledging the positive impact of his policies and programmes.

Honourable Wasiu Ayodele Sunday, popularly known as IWA, the Lawmaker representing Abeokuta South Constituency II in Ogun state has expressed his immense gratitude following the delivery of vital health equipment to the Ijeja Health Centre in Abeokuta South Constituency II. The gesture, made possible through the intervention of the Ogun State Government under the leadership of Governor Prince Dapo Abiodun, has been met with overwhelming praise from the residents of Ward 15, Ijeja, who are excited about the improvements in their healthcare infrastructure.



Not less than 50 health equipments which were brought to Ijeja health centre includes Hospital Beds, patient trolley, instrument steriliser, examination couch, delivery bed to mention but a few.


Speaking to newsmen in Abeokuta on Thursday, Honourable IWA shared his heartfelt appreciation for the ongoing support from the Ogun State Government in enhancing healthcare facilities across the state. He noted that the provision of these health equipment is a major step in the right direction, ensuring that quality healthcare services reach all corners of Ogun State.

“I am extremely happy about the support that our people in Ijeja have received today. The health equipment delivered to the Ijeja Health Centre will significantly impact the quality of healthcare services available to the people in this area. This kind gesture from the Ogun State Government, led by His Excellency, Governor Dapo Abiodun, is indeed laudable, and I am confident that it will go a long way in improving the overall wellbeing of the people of Ijeja,” Honourable IWA said.

The lawmaker who facilitated the equipment further praised Governor Abiodun for his unwavering commitment to ensuring that no community is left behind in terms of development. He also acknowledged the immense contribution of the Commissioner for Health in Ogun State, Dr. Oluwatomi Coker, for her tireless efforts in bringing essential health infrastructure and services to the people.

“I also want to specially thank our Governor, Prince Dapo Abiodun, for his leadership and dedication to improving the lives of Ogun State residents, including those in my constituency. His administration is leaving no stone unturned, and it is an honor to witness these developments. I also want to commend Dr. Oluwatomi Coker, the Commissioner for Health, for her proactive stance in bringing these vital health facilities and equipment to Ogun State. We in Ward 15 truly appreciate everything she has done to ensure that our health needs are met,” IWA added.

The delivery of these health facilities aligns with the state government's broader vision to provide quality healthcare services to all residents, particularly those in rural and underserved communities. The upgraded Ijeja Health Centre will help address the growing healthcare needs of the community, ensuring that residents have access to timely and effective medical treatment.

In conclusion, Honourable IWA reiterated that the gesture marks a significant milestone in the development of the constituency, which has long desired improvements in healthcare services. With the continued support of the Ogun State Government, IWA is confident that the Ijeja Health Centre will continue to serve as a beacon of health progress and quality care for the people of Abeokuta South Constituency II.

The community of Ijeja, Ward 15, remains immensely grateful to both the Ogun State Government and their representative, Honourable IWA, for their collective efforts in improving healthcare accessibility and overall wellbeing in the region.

Rite Foods Limited, a leading indigenous manufacturer in the Food & Beverages sector, has partnered the Noble Association of Social and Resourceful Editors(NASRE) Foundation to provide support for ailing journalists and widows of deceased media practitioners in the country .

This collaboration comes as part of NASRE's ongoing efforts to assist journalists facing health challenges across the country, having embarked on three outreach programmes last year.

The NASRE team was warmly received on Wednesday, February 5th, 2025, by the management of Rite Foods at its Head Office in Ikeja, Lagos State.

Receiving NASRE team on behalf of the Managing Director of the company, Mr. Saleem Adegunwa, the Head of Corporate Communications and Brand Management , Mr. Ekuma Eze was elated with the visit.

Earlier during the visit, the Public Relations Officer (PRO) of NASRE, Mr. Adeyemi Obadimu had outlined the foundation's mission and the purpose of the meeting. He revealed the health and financial challenges facing most veteran journalists, who had, during their active years, served the country meritoriously, but are now struggling to survive.

Obadimu highlighted that NASRE's outreach programme last year was a success, benefiting over 70 individuals, including journalists suffering from partial stroke, widows, and widowers of deceased practitioners . He emphasised the importance of taking care of journalists in need, especially, the veterans who have contributed greatly to the industry.

“Journalism is a thankless job, and as much as we may be appreciated in our bylines, it is crucial that we care for our colleagues who have dedicated their lives to the profession,” said Obadimu.

Butressing his point, the Director, Public Engagement, Mr. Bunmi Obarotimi who represented the President of the association, Mr. Femi Oyewale said: "NASRE’s intends to launch the Foundation officially in this current year and we are proud to have Rite Foods as our partner going forward."

In his response, Ekuma Eze commended NASRE Foundation for its noble and impactful initiatives, recognising the significant difference it has made in the lives of journalists and their families. He praised the foundation’s efforts in providing assistance to over 70 journalists and their dependents last year. Eze reiterated Rite Foods’ unwavering commitment to supporting initiatives that foster the well-being of the media community.

"At Rite Foods, we are deeply invested in contributing to the development of our society. We understand the importance of health and well-being, especially for those who dedicate their lives to sharing vital information with the public. We believe in the mission of NASRE and are committed to supporting your work in every way possible," Eze stated.

"This partnership will go beyond just providing financial support; we are dedicated to helping create an ecosystem where journalists can thrive, even in the face of adversity," he added.

He also spoke about the company's long-term goals, highlighting Rite Foods' plan to expand beyond Nigeria and into other African countries. "We have exciting plans for the future," he added. "Rite Foods is committed to not only strengthening its footprint within Nigeria but also extending our reach to the wider African continent. We believe that our growth will not only benefit our business but also contribute to the national economy, creates job opportunities, and foster the development of the beverage and food sectors."

Eze emphasised that Rite Foods has been actively involved in national economic development, focusing on reducing unemployment and improving service delivery. As one of the leading manufacturers in the beverage, drinks, and sausages sectors, Rite Foods remains committed to excellence in all its business operations, he said.

Through innovation, quality products, and partnerships like the one with NASRE, the company aims to continue breaking new ground in the industry.

He concluded that, "Our mission at Rite Foods is clear: to improve lives, deliver quality products, and contribute to the economic growth of Nigeria and Africa as a whole. We are proud to partner with organizations like NASRE that share our values of social responsibility and community development."

The partnership between Rite Foods and NASRE marks a significant step in supporting the health and well-being of journalists, ensuring that those who have dedicated their careers to the industry receive the care and recognition they deserve.

New facts have emerged on how Access Bank clandestinely granted N1 billion loan to a going concern, DDSS International Company limited, using a property belonging to another company, MOB Integrated Services, run by Gbolahan Obanikoro, as collateral without the owner’s consent or knowledge.

Details of the loan provided by insiders, revealed that the property, owned by MOB Integrated Services, was first used to guarantee a loan of N193,139,200 to Balmoral International Limited on May 21, 2013, from the now acquired Diamond Bank.

The credit facilities, referenced AOB/BB/VO/AD/031/05/2013, also included N120 million term loan and N20 million import duty facility.

The term of the loan was 180 days from the date of disbursement at 20 per cent per annum, while a third-party legal mortgage on the property located at 40B Bourdillion Road, Ikoyi, Lagos, was used as security.

However, long after Balmoral had repaid and serviced the loan, the bank, without recourse to the property owner, used the same collateral for another loan, completely unknown to the property owner.

The loan of N1 billion was granted to DDSS International Company Limited via an offer letter of May 16, 2019, using the same property as security.

The letter was signed by Bukola Shoyombo, a Relationship Officer in Access Bank Business Banking Division, and Oreoluwa Roy-Egbokhan, a Relationship Manager.

The purpose was to enable DDSS International finance the purchase of different brands of cars and luxury vehicles for sale to individuals and corporate organisations.

The tenor of the loan was for 60 months at 15 per cent interest per annum, subject to review based on prevailing market conditions.

The bank claimed that the collateral was a “comprehensive third-party legal mortgage on property located at 40B Bourdillion Road, Ikoyi. The property is currently with the bank and perfection has been concluded,” the bank claimed in the offer letter.

The implication, the insider, explained, was that the bank granted DDSS International the loan without collateral, because the property was not theirs and the owner had no relationship whatsoever with the company.

A complaint of stealing was later filed against the bank and others, following which the Lagos State Government filed charges against the Managing Director, Bolaji Agbede, and three others.

In the four-count charge pending before Justice Ibironke Harrison of the Lagos State High Court, sitting in Tafa Balewa Square, the Director, Directorate of Public Prosecutions, Mrs A. O. Oluwafemi, accused the bank and others of conspiracy, stealing, and attempted theft.

The defendants were the Managing Director of Balmoral International Limited, Adejare Adegbenro; Balmoral International Limited, Access Bank, Bolaji Agbede and DDSS International Company Limited.

The charge read: “Count 1: Conspiracy to Commit a felony to wit: stealing contrary to Section 411 of the Criminal Law, Ch. C17, Vol.3, Laws of Lagos State, 2015.

“Particulars of Offence: Adejare Adgbenro (m), Balmoral International Limited, Access Bank and Bolaji Agbede (m) on or about the 24th Day of September 2013 at Plot 1261, Adeota Hopewell Street, Victoria Island, Lagos State in the Lagos Judicial Division, conspired to commit a felony to wit: Stealing.”

The charge stated that they conspired and “stole the property of MOB Integrated Services at Plot 40b, Bourdillion Road, Ikoyi, Lagos, by using it as a security for a loan without his consent and subsequently entering into a consent judgment.”

The defendants were also charged with attempted stealing, contrary to Section 21 of the Criminal Law of Lagos State, 2015.

Full story below 👇
https://newsextra.com.ng/n1bn-loan-scandal-obanikoro-accuses-access-bank-of-unauthorized-use-of-property/

The National Industrial Court in Port Harcourt has deemed the 2014 termination of Mr. Patrick’s employment by United Bank for Africa (UBA) as wrongful and ordered the bank to pay compensation totalling N12.5 million in a landmark ruling, Apples Bite reports.


Justice Zaynab Bashir found that UBA breached the employment contract by failing to provide proper notice or payment in lieu of notice at the time of termination. The court awarded Mr. Patrick N8.25 million for two-time recognition as a role model in the bank’s appraisal reports, N2.25 million for outstanding performance recognition, and N2 million in general damages.


The case stemmed from Mr. Patrick’s employment as a Senior Banking Officer at UBA from August 2008 until his termination in January 2014. His legal team successfully argued that the termination ground of “service no longer required” violated UBA’s Disciplinary Process and Sanctions Policy.

While the court ruled in Mr. Patrick’s favor regarding the wrongful termination, it dismissed his claim for N75 million in damages related to alleged inhumane treatment and psychological trauma, finding insufficient evidence to support these allegations.

Full story below 👇
https://newsextra.com.ng/court-ordered-uba-to-pay-n12-5m-damages-for-breaching-employees-contract/

The Noble Association of Social and Resourceful Editors (NASRE) has commended Zenith Bank for its recent groundbreaking initiative to promote over 4,000 employees while implementing salary increments of 20% to 30% across various staff grades.

The association lauded the bank for setting a high standard in employee welfare and fostering productivity in the Nigerian financial sector.

Speaking on behalf of NASRE, the association's President, Comrade Femi Oyewale, described Zenith Bank’s actions as a reflection of its commitment to its workforce and an exemplary display of corporate responsibility.

“Zenith Bank’s initiative to prioritize its employees' welfare is a testament to its understanding of the critical role staff motivation plays in ensuring excellent service delivery,” Oyewale stated.

He further praised the bank for its broader business strategies, including its focus on innovation, sustainability, and corporate governance.

“Zenith Bank has consistently demonstrated that financial institutions can achieve exceptional growth while prioritizing their employees' well-being and addressing sustainability challenges. This move will undoubtedly inspire other institutions to emulate their approach,” he added.

Under the leadership of Managing Director/CEO Dame Adaora Umeoji, Zenith Bank has also received several awards recognizing its exceptional performance and leadership in the financial sector. These include “Best Bank in Nigeria 2024” by Global Finance, “Biggest Bank in Nigeria by Tier-1 Capital 2024” by The Banker, and accolades for its commitment to corporate governance and sustainability.

Comrade Oyewale also highlighted the bank’s ongoing contributions to economic inclusion, SME development, and technological advancement, noting how these efforts positively impact communities and stakeholders alike.

“Zenith Bank’s integration of environmental, social, and governance principles into its operations has positioned it as a beacon of progress in the African banking landscape,” he remarked.

NASRE encouraged other corporate organizations to adopt similar employee-centered initiatives and commended Zenith Bank for setting a benchmark in corporate excellence.

Zenith Bank’s efforts, which include investments in renewable energy, sports, digital transformation, and impactful community initiatives, continue to strengthen its reputation as a leading financial institution in Africa.

In a high-profile legal battle, Mr. Yisa Usman, the former Deputy Director of the Joint Admissions and Matriculation Board (JAMB), has vowed to continue his fight against alleged corruption within the board despite facing threats and intimidation. Usman, who is suing JAMB over what he claims was an unlawful dismissal, made these statements during cross-examination at the National Industrial Court in Abuja.


Usman, the sole witness in his case, revealed that he had written multiple petitions to government agencies accusing JAMB of corruption, particularly concerning financial infractions under the leadership of current JAMB Registrar, Prof. Ishaq Oloyede. He admitted to receiving queries from the board and being invited to appear before a disciplinary committee before his termination, a process he contested, citing concerns about the committee’s composition.


In response to a question about an email message dated May 18, 2023, from the disciplinary committee’s invitation letter, Usman explained that he had replied with a protest letter.

In his message, Usman reiterated his determination to expose the corruption he believed had plagued JAMB for years.


He also highlighted the disparity between his own treatment and that of his peers, who were invited to promotional examinations for higher roles instead of facing disciplinary proceedings.


Usman’s email included a pointed message to JAMB directors, asserting his commitment to uncovering corrupt practices within the organization, particularly related to financial remittances made to the government. He emphasized that his fight for justice would not be hindered by threats or his dismissal, stating that corruption and abuse of authority must be addressed for the good of the country.



Despite suggestions from JAMB’s counsel that the email was unrelated to the disciplinary matter, Usman maintained that it was directly relevant and aimed at ensuring transparency within the board.


The former deputy director’s case continues to unfold, as he remains steadfast in his mission to hold those responsible for corruption within JAMB accountable

The Asset Management Company Of Nigeria (AMCON), has said, the owner of Arik Air, Sir Johnson Arumem-Ikhide, is owing the company over N455.17billion.



Speaking over the weekend, the Head of Corporate Communications Department of AMCON, Jude Nwauzor, said as at December 31st, 2024, Arik Air owed AMCON N227,637,469,394.34 billion; Rockson Engineering, N163,502,837, 397.75 billion, while Ojemai Farms owed the corporation another N14, 031, 457, 980.71 billion, totaling N455, 171, 764, 772.80.


Nwauzor, however, stated that, AMCON’s intervention in the troubled Arik Air in February 2017, saved the carrier from liquidation, but vowed that it would ensure the recovery of the total debts owed to the corporation by various business organisations including those owned by Sir Johnson Arumem-Ikhide irrespective of the orchestrated blackmail.



Nwauzor also said, Arumem-Ikhide, in some of its agreements with AMCON, agreed to the debts owed to the government agency, and signed restructured agreements on payback, but failed to honour his agreements.


“If you recall, at the time, there were not so many of these airlines that we have today like Air Peace, United Nigeria, Green Africa, Max Air, Value Jet, etc. So, the Federal Government at the time, mandated AMCON to save the over 1,500 jobs that would have been lost if the airline was liquidated and the best approach was to appoint a receiver manager to manage the airline. That was the mandate of the Federal Government of Nigeria.


“As you know, AMCON is owned by the Central Bank of Nigeria (CBN) and the Ministry of Finance and is guided by the AMCON Act drafted by the National Assembly, and signed into law by the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria.


“That was how AMCON came to be. What that means is that you cannot play outside the laws of the Federal Republic of Nigeria, and the AMCON Act, and that the Corporation since inception is guided by this. If push comes to shove, AMCON still has the option to liquidate the company and any other debtor organizations. But, we are still today managing Arik, which was insolvent in 2015 and 2016 before AMCON stepped in,” he said.



AMCON insisted that despite the campaign of calumny against it, it would ensure the debts were recovered and return the companies to profitability.



AMCON insisted that, it didn’t take over the running of Arik Air by fiat as claimed in some quarters, but the banks, including Union Bank and Bank PHB (now Keystone Bank), Zenith, Access, Standard Chattered, Afexim, which the airline owed billions of naira, sold the non-performing loans of Arik to AMCON.


He insisted that the takeover followed all the due processes and in accordance with the Act setting up AMCON, and the laws of the Federal Republic of Nigeria.


According to Nwauzor, AMCON had been part of Arik Air since 2011 but was compelled to take over the company in 2017 through the appointment of a receiver manager after several interventions failed. He emphasised that the AMCON Amendment Act, 2021 empowers the corporation to, inter alia, take possession, manage, or sell all properties traced to debtors, whether such asset or property is used as security/collateral for obtaining the loan in particular.


He explained that the receiver manager also had the option of either managing or selling off the assets of a debtor company like Arik Air, but AMCON was mandated to ensure that the airline did not die by the Federal Government.

Full details below 👇

https://newsextra.com.ng/arik-air-founder-firms-owe-amcon-n455bn-debt/

Justice Ibironke Harrison of the Lagos State High Court has ordered the arrest of Access Bank’s acting Managing Director, Bolaji Agbede and three others for allegedly failing to appear for arraignment.

The judge’s order also affected Balmoral International Limited, DDSS International Company Limited, and Adejare Adegbenro.

Justice Harrison issued the arrest warrant after the Lagos State prosecution counsel, Uthman̈ Rilwan informed the court that he had served the defendants with notice, but they failed to attend the arraignment.

The Lagos State government had filed a four-count charge of conspiracy, stealing, and attempted theft against the defendants.


When the case was called, Rilwan informed the court that the day’s purpose was to arraign the defendants; however, they were absent despite receiving notice of the court date.


The prosecutor stated that on or about September 2, 2013, at Plot 1261, Adeola Hopewell Street, Victoria Island, Lagos, the defendants conspired to commit theft.

He alleged that Adejare, Balmoral, Access Bank, and Agbede stole the property of MOB Integrated Services at Plot 40b, Burdillion Road, Ikoyi, Lagos, by using it as security for a loan without the complainant’s consent and subsequently entered into a consent judgment.


Additionally, they were accused of attempting to steal the property of MOB Integrated Services on May 26, 2019, by offering and granting DDSS International Company Limited a credit facility of N1 billion.

According to the prosecutor, these offences contravened Sections 411, 280, and 21 of the Criminal Laws of Lagos State 2011.

Full details below 👇

https://newsextra.com.ng/court-orders-arrest-of-access-banks-md-bolaji-agbede-others-over-alleged-theft/

Sterling Bank’s recent 7% salary increase which was announced earlier this month has been met with widespread criticism and disappointment among its employees, who feel undervalued, overworked, and underappreciated.
According to sources, the bank’s Executive Trainees (ETs) will receive a monthly raise of ₦24,000, from ₦327,000 to ₦351,000, while Senior Executives will receive a monthly raise of ₦27,000, from ₦500,000 to ₦527,000.

Employees have expressed frustration and disappointment with the raise, citing the bank’s failure to keep up with Nigeria’s soaring inflation rate.

The tired salary structure of the bank has sparked a crisis of morale and motivation among Sterling Bank’s staff, with employee engagement and productivity hitting an all-time low. This has significant implications for the bank’s business, as customer satisfaction is likely to suffer.

In contrast, other banks in the industry have taken a more aggressive approach to salary increases. Union Bank and GTBank raised salaries by 40% in late 2024, in a bid to retain top talent in an industry plagued by high employee turnover and poaching.


Research shows that competitive salaries are key to reducing employee attrition in Nigeria’s banking industry. Sterling Bank’s failure to deliver on this front may have far-reaching consequences for its business.


All attempt to get Sterling Bank’s management to respond as at press time proves abortive, but insiders say that the bank’s leadership is aware of the growing discontent among its employees.

As the situation continues to unfold, one thing is clear: Sterling Bank’s employees will not be silenced, and they will continue to demand a fair and living wage.

The Federal Government of Nigeria has filed a five-count charge of failure to pay the statutory stamp duty of $37,581,083.40 against Seplat Petroleum Development Company Limited and 12 officials of the company.


The five-count charge filed before the court by the combined team of prosecutors from the Litigation & Prosecution Department of the Federal Inland Revenue Service, FIRS, is pending before a Lagos Federal High Court.

In the charge, it was stated that Seplat Petroleum Development Company Limited and 12 of its officials namely: Roger Brown, Samson Ezugworie, Eleanor Adaralegbe, Effiong Okon, Ayodele Olatunde, Obi Ada Itotoi, Pius Ozoemenah Udeh, Edith Owuchekwa, Chioma Yvonne Afe, Okechukwu Mba, Alasdair Mackenzie and Steve Ojeh, sometime in 2010, in Nigeria did purchase a participating interest in the producing assets of OML 4, OML 38 and OML 4I.


The charge reads further that they failed or evaded to pay the statutory stamp duty imposed on the executed Purchase Agreement and the accruing interest in the sum of $37,581,083.40 (Thirty seven million, live hundred and eighty one thousand, eighty three dollars and forty cents only) a sum due and payable to the Federal Republic of Nigeria.


The default in payment, therefore, have made them committed an offence, contrary to S. 23 of the Stamp Duties Act and punishable under S.111 and 112 of the Stamp Duties Act (as amended).


The defendants were also alleged to have counterfeited the seal of the Commissioner of Stamp Duties by inserting same on the purchase agreement of OML 4, OML 38, and OML 41.

Meanwhile, 28th of February has been fixed for the trial of the case.


The charge as filed before the court by combined legal team of Federal Inland Revenue Service:


CARGE NO: FHC/L/ 982C/24

BETWEEN

FEDERAL REPUBLIC OF NIGERIA: COMPLAINANT

AND

DEFENDANTS

1. SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD

2. ROGER BROWN

3. SAMSON EZUGWORIE

4. ELEANOR ADARALEGBE

5. EFFIONG OKON

6. AYODELE OLATUNDE

7. IBI ADA ITOTOI

8. PIUS OZOEMENAM UDEH

9. EDITH ONWUCHEKWA

10. CHIOMA YVONNE AFE

11. OKECHUKWU MBA

12. ALASDAIR MACKENZIE

13. STEVE OJEH

COUNT 1:

That you SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD, ROGER BROWN, SAMSON EZUGWORIE, ELEANOR ADARALEGBE,EFFIONG OKON, AYODELE OLATUNDE, IBI ADA ITOTOI, PIUS OZOEMENAM UDEH, EDITH ONWUCHEKWA, CHIOMA YVONNE AFE.OKECHUKWU MBA, ALASDAIR MACKENZIE and STEVE OJEH, sometime in 2010, in Nigeria and within the jurisdiction of this Honorable Court, did purchase a participating interest in the producing assets of OML 4, OML 38 and OML 4I and failed or evaded to pay the statutory stamp duty imposed on the executed Purchase Agreement and the accruing interest in the sum of $37,581,083.40 (Thirty seven million, live hundred and eighty one thousand, eighty three dollars and forty cents only) a sum due and payable to the Federal Republic of Nigeria in so doing, committed an offence, contrary to S. 23 of the Stamp Duties Act and punishable under S.111 and 112 of the Stamp Duties Act (as amended).

COUNT 2:

That you SEPLAT PETROLEUM DEVELOPMENT COMPANY LIMITED, ROGER BROWN, SAMSON EZUGWORIE, ELEANOR ADARALEGBE,EFFIONG OKON, AYODELE OLATUNDE, IBI ADA ITOTOI, PIUS OZOEMENAM UDEH, EDITH ONWUCHEKWA, CHIOMA YVONNE AFE.OKECHUKWU MBA, ALASDAIR MACKENZIE and STEVE OJEH, sometime in 2010, in Nigeria and within the jurisdiction of this Honorable Court, did purchase a participating interest in the producing assets of OML 4, OML 38 and OML 41 and did unlawfully and willfully evade the payment and remittance of duties, fines, penalties and debts due to the Government of the Federation imposed on the executed Purchase Agreement to acquire Oil Mining Lease 4, 38 and 41, in the sum of $37,581,083.40 (Thirty seven million, five hundred and eighty one thousand and forty cents only) and in so doing, committed an offence, contrary to and punishable under S. 111 and 112 of the Stamp Duties Act (as amended).

Read full detail below

https://newsextra.com.ng/seplat-petroleum12-officials-in-trouble-over-alleged-default-in-37581083-40-tax-payment/

His Royal Majesty, the Oloworo of Oworoshoki, Oba Babatunde Saliu, Elebo II, has extend his heartfelt congratulations to Mojisola Meranda, on her appointment as the first female Speaker of Lagos State.

Oba Saliu wishes her a successful tenure and looks forward to working closely with her for the betterment of Oworoshoki and the entire state.

Meranda's appointment comes following the impeachment of Mudashiru Obasa, bringing to fore her historic achievement as the first female Speaker.

This is a significant milestone for gender equality and empowerment in Lagos State. Oba Saliu commends her dedication to public service and her commitment to serving the people of Lagos State with integrity and excellence.

As a traditional leader of Oworoshoki, Oba Saliu is confident that Meranda's will bring a fresh perspective and innovative ideas to the role of Speaker, and he pledges his full support to her in her new position.

He believes that her leadership will inspire other women in Lagos State to aspire to positions of influence and leadership in government and society.

In conclusion, Oba Saliu reiterates his warmest congratulations to Mojisola Meranda and expresses his optimism for a fruitful collaboration between the traditional institution and the legislative arm of government under her leadership.

Prince Taofeek Adeyemi Adeleke Emiolu III of Iresa Adu Kingdom extends his heartfelt congratulations to the Alafin of Oyo Elect, Prince Abimbola Akeem Owoade, on his recent appointment.

In a statement released today, Prince Taofeek expressed his joy and excitement at the news of Prince Abimbola's selection as the Alafin of Oyo Elect. He commended the selection committee for choosing such a worthy and capable leader to take on this esteemed role.

Prince Taofeek praised Prince Abimbola's long history of service and dedication to the people of Oyo, noting his commitment to improving the lives of his fellow citizens. He expressed his confidence that Prince Abimbola will lead with wisdom, compassion, and integrity, and wished him all the best as he prepares to assume his new responsibilities.

The people of Iresa Adu Kingdom stand in solidarity with their neighbors in Oyo and look forward to a strong and prosperous partnership under the leadership of Prince Abimbola Akeem Owoade.

The Residents of Aleke community have cried out following the incessant attacks they have been experiencing since 2nd of January 2025 till this moment.

The attacks, according to them, have made several residents flee their homes and ignore their farms due to the fear of being killed for their properties.

In a save our soul petition written to the Inspector General of Police dated 9th of January 2025, prominent families in the community mentioned that a popular landgrabber, Abubakar Sulaiman Miyaki is responsible for the attacks since the beginning of the new year. It was mentioned that the landgrabber led his team members including Olamide Ganiu (AKA Small Rainbow) who has now been arrested into the community to wreck havoc and take over their landed properties.

“According to our Clients, on Thursday 2nd of January, 2025 our Clients and the other villagers were in their houses at Aleke village reveling in the euphoria of the new year celebration when around 6pm the aforementioned persons accompanied by some fierce looking cultists, bandits, thugs and hoodlums riding in several motorcycles, cars and other vehicles, and armed with guns, cutlasses, and other dangerous weapons, accompanied by some armed men in Mobile Police uniform and led by (1) ABUBAKAR SULAIMON MIYAKI and (2) OLUMIDE GANIU (A.K.A. SMALL RAINBOW) stormed and raided our Clients said village, and in the process destroyed several properties belonging to our Clients at the said village, without any regard for law and order.”

“That the aforementioned assailants, and their said armed men, cultists, bandits, thugs and hoodlums upon coming unto our Clients said village, and sighting our Clients and the other dwellers of the village, started shooting their guns sporadically, brandishing their sophisticated guns, cutlasses and other dangerous weapons, attacking our Clients and other dwellers of the village with their guns, cutlasses and other lethal weapons, ransacking and plundering the entire village in the process.”, the petition reads in part.

In the petition, it was noted that the case has been reported to the police but due to logistic reasons, nothing significant has been done to apprehend the assailants.

“That our Clients caused the criminal and atrocious activities of the aforementioned assailants and their said armed men, cultists, bandits, thugs and hoodlums to be reported to the police in numerous police formations in Lagos State but all the efforts of the Police to apprehend and bring the aforementioned assailants and their said armed men to book have been unsuccessful for (according to the police) logistic reasons.





“That the aforementioned assailants and the said armed men in Mobile Police uniform have become notorious for the perpetration of several atrocious, nefarious and violent activities in and around Ikorodu, Lagos State in recent time, and have stationed themselves at our Clients said village where they have continued to perpetrate their unlawful and illicit activities at the expense of our Clients.”

Furthermore, while speaking in an interview, Prince Jimoh Yinusa of the Onofaye Family called on the government to assist them in Aleke Village because the assailants are still very much around to kill anyone that dares question them.

“For some time, these people invaded our community and said they are working for Akeja people in Imota. The reason for coming to Aleke we don’t know. The people can’t live in their homes again, we call on the government to assist us in Aleke. They want to take over our landed properties and that’s why they have been disturbing us and trying to kill anyone they came across.”

Likewise, Gbenga Onalesi confirmed that no one can go to their farms in Aleke village in order to avoid being killed.

“On 2nd Janaury, Miyaki and his gang came with his team to invade our community and since then, none of us can go to the farm or come to the village because they have started shooting guns and carrying different arms.”

Dr. George Ogunjimi has expressed profound disappointment in Governor Seyi Makinde's recent statements regarding the unfortunate stampede that occurred during a Christmas event in Ibadan. He asserts that the Governor's response is both ironic and lacks the necessary gravity, considering the tragic circumstances and loss of life during the incident.

Dr. Ogunjimi believes that the Governor’s approach, which appears to point fingers at a select few individuals, falls short of a comprehensive and just investigation into the stampede that affected countless families. He argues that this is not merely a matter of seeking scapegoats, but rather a fundamental issue that warrants a thorough inquiry to truly understand the chain of events that led to this tragedy.

"Governor Makinde’s statements seem detached from the reality of the tragic event. His government should have launched a formal investigation, possibly involving a coroner's inquest, to uncover the facts and hold those truly responsible accountable," Dr. Ogunjimi stated. "Instead of attributing blame to a handful of individuals, we must delve into the underlying causes of this calamity, including crowd management, safety protocols, and event planning."

Dr. Ogunjimi advocates for a transparent investigation that seeks to address not only the immediate causes of the stampede but also the systemic issues that may have contributed to this disaster. He emphasizes the need for accountability at all levels.

"It is essential that we do not allow this tragedy to fade away without a proper examination of the circumstances surrounding it. The safety of our children and our citizens must always be a priority," he added.

Dr. Ogunjimi calls on the Governor and relevant authorities to prioritize a thorough and unbiased investigation, ensuring that justice is served and that measures are put in place to prevent such tragedies in the future.

There are pertinent questions begging for answers.

Were those named and currently detained at venue of the accident?

Did any official of the Islamic school opened any of the gates for anyone that day?

Why were the people or parents gathered at such unholy hours at the gate or gates of the school?

Where were the security forces of the school and why did they not move fast to curb the influx of the people at that very time?

Who were the parents who risked the lives of their children at those hours?

The governor remains the chief security officer of the state and he remains legally culpable for the deaths too and he and others must be investigated independently in the matter.

The governor should allow justice to prevail.

In a commendable display of community support, De Pride Land Circle of Life Foundation has provided cash gifts to market women in the Agege area of Lagos on January 7th, 2025. The initiative benefited over 20 market traders, empowering them to sustain and grow their small-scale businesses.

Engr. Ekundayo Oduntan, The founder of the foundation, emphasized the organization's commitment to uplifting the community.


"This is our first outreach this year, and we plan to do much more in the coming months," he said. The foundation aims to make a significant impact on the lives of small business owners, many of whom face challenges in accessing financial resources.

One of the beneficiaries, Mrs. Amosun Sarah, a plantain seller, expressed her gratitude for the foundation’s generous support. "I am incredibly thankful for this assistance. It will greatly help my business and allow me to provide for my family," she stated.

De Pride Land Circle of Life Foundation is dedicated to fostering economic growth and improving livelihoods within local communities. By directly supporting market vendors, the foundation aims to enhance the economic landscape in Agege and beyond.

A Lagos-based organisation, GVS Cosmetics on Wednesday gifted materials to some babies born as the world celebrated New Year.

The company said its action was part of its corporate social responsibility and the need to play roles that would put smiles on faces of citizens.

Staff of the organisation visited three general hospitals across Lagos to celebrate with the new mothers and their babies and donating personal care products to them.

At the Gbagada General Hospital, the company gave materials and its products to Mrs. Medina Olayiwola and Mrs. Esther Joseph; at the Maternal and Child Centre, Ajah, Mrs. Christabel Akpat, Mrs. Rianat Idowu, Mrs. Doris Okeke, Mrs. Happiness Mathias, and Mrs. Funmilayo Jagbojagbo all benefitted.

The management of the company also visitted the Maternal and Child Centre, Amuwo Odofin where Mrs. Oluchi Moses and Mrs. Esther Onyeme benefitted.

Pharmacist Lucy Odumu, General Manager, Marketing, who spoke on behalf of the Managing Director of the company, Chief Ebere Nwosu, said the organisation was passionate about supporting new mothers.

“Our company has always had this zeal to touch lives, especially new mothers and their babies. Chief Nwosu is a philanthropist and he has put all these together for the benefit of the mothers and the new entrants to the world.

"During childbirth and immediately after it, women are at their most vulnerable, as they now have a new lives to care for. This initiative aims to bring smiles to the faces of these mothers by giving them personal care and beauty products to take care of themselves and their babies, making them feel good," she said.

Noting the company's commitment to promoting maternal and child care in society, she added: “Initially, we planned to visit eight hospitals, but due to logistics and feedback, we settled for the three hospitals.

“This initiative aims to become a lifetime event with activities lined up for other significant internationally recognised days.” she added.

The team commended the staff of the hospitals for helping those they described as "mothers in need."

The Nigerian Association of Social and Resourceful Editors (NASRE) has announced the appointment of George Bamidele Olufemi Ogunjimi, Esq., as its Legal Adviser.

Ogunjimi, the Principal Partner at Juris Republic Legal Practitioners in Nigeria, is a distinguished legal professional with an illustrious career spanning multiple sectors. His extensive experience includes roles as a forensic consultant with organizations such as Dignify Humanity Africa and as an advisor for institutions like Holy Comfort Chapel in London, underscoring his expertise and versatility.

Additionally, Ogunjimi serves as a Visiting Lecturer at the London College of Business and Law Studies. His academic credentials include a PhD in International Law from the British American University, Florida, an LLM from the University of Bedfordshire, UK, and an LLB from the University of Luton, UK. He also earned his legal certification at the Nigerian Law School. Beyond law, Ogunjimi holds a BSc from the University of the Arts, London, and a Diploma in Journalism from the Nigerian Institute of Journalism, Lagos, showcasing his interdisciplinary expertise.

In recognition of his community contributions, Ogunjimi holds the honorary title of The Bamofin of Ojo, Lagos, a testament to his leadership and service.

NASRE's President, Comrade Femi Oyewale, expressed confidence in Ogunjimi’s ability to provide strategic legal guidance, ensure compliance, and help shape policies that align with the organization’s mission. He highlighted that Ogunjimi’s wealth of expertise would enhance NASRE’s operations and bolster its impact on the media and social sectors.

In response, Ogunjimi conveyed his gratitude for the appointment and expressed enthusiasm for the role. He reaffirmed his commitment to delivering strategic legal counsel, ensuring compliance, and contributing to policies that align with NASRE’s objectives. Ogunjimi also voiced his eagerness to collaborate with NASRE’s leadership to further the association’s mission and strengthen its influence in the media and social sectors.

This notable appointment follows NASRE's recent initiative of distributing Yuletide gifts to veterans, families of deceased journalists, and other beneficiaries. The gesture demonstrated the association’s ongoing dedication to supporting those who have significantly contributed to the media profession.

The Nigerian Association of Social And Resourceful Editors (NASRE) has once again demonstrated its commitment to uplifting the media community by distributing Yuletide gifts to veterans, families of deceased journalists, and other beneficiaries.

In its annual outreach, NASRE provided food items and cash support to families in Lagos and Ogun states. Recipients included Folusho Samuel, Thomas Peter, Qudus Adewole (Ebony), Simeon Ugwu, Niyi Agboola, and Mrs. Adewunmi, among others.

Speaking on the initiative, NASRE President, Comrade Femi Oyewale, highlighted the association’s dedication to supporting its members and their families, particularly during festive seasons.

“This is a time for giving and reflection. At NASRE, we are committed to showing our veterans and their families that their sacrifices and contributions to society are deeply valued. Beyond festive seasons, we strive to impact lives meaningfully throughout the year,” Oyewale said.

One of the beneficiaries, Mrs. Thomas, expressed heartfelt appreciation, saying: “NASRE’s support reminds us that our efforts in the media community are not forgotten. These gestures of kindness mean so much to us, and we are truly grateful.”

The foundation also took the opportunity to recognize the crucial role of the media in nation-building. It extended its gratitude to media practitioners for their hard work and dedication, while wishing them a joyful and prosperous festive season.

NASRE’s annual gesture underscores its role as a pillar of support within the media community, fostering unity, compassion, and appreciation for the contributions of its members.

Late alaafin's grandson, prince siyanbola oladigbolu vying for the prestigious title. His lineage and connection to the revered Alaafin dynasty have positioned him as a formidable candidate in the race for the throne.

Prince SIYANBOLA'S background as a mariner and real estate developer has not only equipped him with a diverse skill set but has also allowed him to build a network of influence and resources that could be advantageous in his quest for the crown. His experience in the maritime industry reflects a sense of adventure and resilience, qualities that are often admired in traditional leadership.

As the youngest contender, he brings a fresh perspective to the age-old traditions of the Oyo Empire. His modern approach to leadership, combined with a deep respect for cultural heritage, resonates with many who seek a balance between tradition and progress. This duality has made him a popular figure among the youth and those who envision a revitalized Oyo under a forward-thinking Alaafin.

However, his candidacy can never be sidelined. The competition is fierce, with other contenders who have their own claims to the throne and support from various factions within the community. The political landscape surrounding Alaafin's succession is complex, with historical rivalries and alliances playing a significant role in the selection process.

As the race intensifies, Prince siyanbola Junior's ability to navigate these dynamics will be crucial. His strategy involves engaging with the community, understanding their needs, and presenting a vision that honors the past while embracing the future. He aims to unite the people of Oyo, fostering a sense of pride and collective identity that transcends individual ambitions.

In a few months, the battle for the Alaafin's throne will unfold, and all eyes will be on Prince abdul Afeez Siyanbola oladigbolu as he strives to become the last man standing in this historic contest. His journey is not just about personal ambition; it represents a pivotal moment for the Oyo Empire, as it seeks to define its identity in a rapidly changing world.

Oyo people can't wait to experience the metaphors of his name from Prince siyanbola oladigbolu to
the Imperial Majesty. Oba Abdul Afeez Orikolade Adedokun Siyanbola oladigbolu. Oladigbolu The 3rd

Popular Lagos socialite and London big boy, Jay Jay Oladimeji, has been arrested by London Metropolitan Police on charges of drug trafficking and money laundering. The arrest took place on Christmas day, December 25th, 2024, and Oladimeji has been remanded at Belmarsh prison in Woolwich.

According to a confidential source who spoke to Newsextra, a sum of 3 million pounds and drugs were found in Oladimeji's house in London. The source, who wished to remain anonymous, revealed that the police had been monitoring Oladimeji's activities for some time before making the arrest.

Read full story below 👇

https://newsextra.com.ng/2024/12/25/london-big-boy-and-lagos-socialite-jay-jay-oladimeji-arrested-in-uk-for-alleged-drug-trafficking-money-laundering/

The Ogun 1 Area Command of the Nigeria Customs Service (NCS) held a strategic meeting with executives of the Nigerian Association of Social and Resourceful Editors (NASRE) at its area command, highlighting the importance of collaboration in promoting national security and trade facilitation.

During the visit, NASRE congratulated the newly appointed Customs Area boss, Comptroller Mohammed Shuaibu, on his assumption of office. The association lauded his leadership qualities and expressed optimism about his ability to enhance the command’s operational efficiency.

Welcoming the NASRE delegation, the Public Relations Officer of the command, Mr. Hammed Bujoye Oloyede reiterated the commitment of Comptroller Shuaibu to the core mandates of Ogun 1 Command, which include revenue generation, border security, and trade facilitation.

“Under his leadership, the command is focused on fostering innovation, teamwork, and active engagement with border communities and other stakeholders. These principles are essential for achieving sustainable growth and security in our operations,” Mr. Oloyede stated.

He further emphasized the need for strong partnerships with professional bodies like NASRE to ensure the accurate dissemination of information and to build public trust in the activities of the Customs Service.

In response, NASRE’s Public Relations Officer, Adeyemi Obadimu, expressed the association’s eagerness to collaborate with the Ogun 1 Command in areas of media advocacy and public enlightenment. He highlighted NASRE’s role in promoting accurate and ethical journalism, which aligns with the Customs Service’s goals of transparency and accountability.

“We believe that this partnership will foster better understanding between the Customs Service and the public, especially on issues related to trade policies, border security, and economic development,” Mr. Obadimu said.

The NASRE delegation emphasized the importance of leveraging media platforms to educate the public on the challenges and successes of the Nigeria Customs Service, particularly in combating smuggling and ensuring national security.

The Senior Special Assistant to the President on Community Engagement (South West), Moremi Ojudu, has been commended for her impactful role in implementing President Bola Ahmed Tinubu’s Renewed Hope Agenda across the South West region.

According to the Public Relations Officer of the Nigerian Association of Social and Resourceful Editors (NASRE), Adeyemi Obadimu, Ojudu’s efforts have bridged the gap between the presidency and grassroots communities in Lagos, Ogun, Oyo, Osun, Ekiti, and Ondo states.

Obadimu highlighted her significant contributions, including health advocacy campaigns in Lagos, disaster response efforts in Ondo, and her empathetic intervention during the Oyo explosion tragedy. He noted that her initiatives, such as the BAT-STEM program in Osun to promote science and technology education and her partnerships to address youth unemployment in Ekiti, reflect her commitment to regional development.

“She has consistently prioritized listening to the needs of the people and delivering tangible results. Her visits to markets, educational institutions, and communities have built trust and unity within these areas,” Obadimu said.

Moremi’s efforts extend beyond immediate interventions to long-term solutions. Her collaborations with government agencies, private organizations, and international bodies have addressed key issues such as youth empowerment, health challenges, and infrastructural development.

While commending her achievements, Obadimu called for sustained support from the presidency to enable her office to scale its initiatives and reach more communities.

“With additional resources and an expanded mandate, Moremi can further transform lives and strengthen grassroots development in the South West,” he added.

Moremi’s leadership continues to earn praise for its practical and inclusive approach, demonstrating how grassroots engagement can effectively drive national progress.