₦airaland Forum

A Federal High Court sitting in Abeokuta, Ogun State Capital, has dismissed three different cases filed against the All Progressives Congress (APC) and its governorship candidate, Prince Dapo Abiodun, challenging the victory of the state Governor at the party primaries conducted on May 26, 2022.

In the three cases decided, Hon Justice Joyce O Abdulmalik, dismissed the cases for various reasons ranging from lack of standing to sue, to lack of jurisdiction, incompetence, frivolity, academic exercise and being statue barred. The Judge also awarded a “joint cost” of N2 million against the litigants and in favour of APC and its candidate in each of the three cases.

In the suit instituted by Mrs Sherifat Eweje against APC and Dapo Abiodun, the Judge held that a person who did not participate in a primary election for an office cannot invoke the limited jurisdiction of the court to challenge the outcome of that primary.
The Judge remarked that Mrs Eweje bought a form for a legislative seat and did not buy a form for the Governorship. The Judge added that Mrs Eweje even withdrew her candidacy on 10 May 2022 long before she filed the suit and long before 26 May, 2022 when the Governorship primary held.


In that circumstance, the court concluded and declared that Plaintiff (Mrs Eweje) had no locus standi to bring the action. The court also held that Plaintiff’s suit is statute barred because it was filed more than 14 days after the cause of action arose. Consequently, the court declared the suit incompetent and struck it out, describing all other issues raised in the case as academic issues, since the court has no jurisdiction. The Court awarded a joint costs of ₦2m in favour of 1st and 2nd Defendants for the institution of the suit.

In the second case filed by Semiu Olanrewaju Alao, the Court resolved the issue of locus standi first. The Judge found that Plaintiffs were not aspirants because by their own averments, they were not even sold delegate forms and as such, did not participate in any election whether primary or delegates elections. This meant that some of the Plaintiffs were not aspirants in the primary elections and as such did not qualify under the Constitution to file the case. The Judge then declared that the Plaintiffs who were not aspirants had no locus standi to file the case.

Regarding the singular Plaintiff who claimed to be a delegate, the Judge remarked that all the Plaintiffs acknowledged that 4th Defendant is the Chairman of 5th Defendant and yet the document that Plaintiffs showed highlighting the alleged delegate’s name as a delegate was not authenticated by the said 4th Defendant as sent to the National Chairman. The court concluded that Plaintiffs’ counsel failed woefully to establish that 2nd Plaintiff was a delegate and thus failed to establish the locus standi of the Plaintiffs to file the case. The court then declared the case as incompetent. A Cost of ₦2 million was awarded against Plaintiffs in favour of 1st, 4th, and 5th Defendants.

In the third case, Nuberu Olufemi Adesanya & 2 Ors v. INEC & 3 Ors, the Court cited the case of Alli Modu Sheriff v. PDP., to the effect that a political party is a voluntary club and its decisions are binding on its members who must obey the Party or leave the Party. Ruling on objections raised by APC, the court agreed that under the APC Constitution, offences against the party include filing an action against Party or its officials without first exhausting internal remedies. The court found that the purported complaint filed by Plaintiffs was misdirected as under the Party Constitution, it must start from the ward level and climb its way up. The Court held that the Plaintiff did not exhaust the internal remedy of the party and the case filed was “not justiciable.”

The court added that the parties had an obligation to exhaust internal remedies but failed to do so. Instead of submitting complaints to their wards and working those complaints up the ladder of the Party’s dispute resolution structure, they rushed to court and filed cases that pertain to matters that are not justiciable, being internal affairs of APC. The court reminded the litigants that APC is a voluntary organisation and the will of the majority will prevail in APC. A joint cost of ₦2m was also awarded in favour of 1st – 3rd Defendants in the matter.

The Economic and Financial Crimes Commission (EFCC) has filed money laundering charges against Supo Shasore, former attorney-general (AG) and commissioner for justice in Lagos state.

Shasore was Lagos attorney-general from 2007 to 2011.

Bala Sanga, a lawyer with the EFCC, signed the four-count charge filed before a federal high court in Lagos on August 18.



The former AG was alleged to have committed money laundering to the tune of $100,000 without going through a financial institution.

The case has been assigned to Chukwujekwu Aneke, a judge, before whom Shasore would be arraigned on October 20.

Count one of the charge reads: “That you Olasupo Shasore, S.A.N. on or about the 18th day of November 2014 in Lagos within the jurisdiction of this Honourable Court induced Olufolakemi Adelore to commit an offence, to wit accepting cash payment of the sum of US100,000.00 (One Hundred Thousand United States Dollars) without going through a financial institution which such exceeded the amount authorised by Law and you thereby committed an offence contrary to section 78(c) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under section 16(6) of the same Act.”


Count two reads: “That you Olasupo Shasore, S.A.N on or about the 18th day of November 2014 in Lagos within the jurisdiction of this Honourable Court, in a transaction without going through a financial institution, made cash payment of the sum of USD 100,000.00 (One Hundred Thousand United States Dollars) to Olufolakemi Adelore through Auwalu Habu and Wole Aboderin, which sum exceeded the amount permitted by Law and you thereby committed an offence contrary to sections 1(a) and 16(1)(d) the Money Laundering (Prohibition) Act, 2011 (as Amended) and punishable under section 16(2)(b) of the same Act.”

Count three reads: “That you Olasupo Shasore, S.A.N., on or about the 18th November, 2014, in Lagos within the jurisdiction of this honourable Court, induced one Ikechukwu Oguine, to commit an offence, to wit: accepting case payment of the sum of USD100,000.00 (One Hundred thousand United States Dollars) without going through a financial institution, which such amount exceeded the amount permitted by Law and you thereby committed an offence contrary to Section 18(c) of the Money Laundering Act, 2011 (as amended) and punishable under Section 16 (2)(b) Of the same Act.”

“That you Olasupo Shasore, S.A.N on or about the 18th day of November 2014 in Lagos, within the jurisdiction of this Honourable Court, without going through a financial institution and made cash payment of the sum of USD100,000.00 (One Hundred thousand United State Dollars) to one Ikechukwu Oguine which sum exceeded the amount permitted by Law and you thereby committed an offence contrary sections 1(a) and 16(1),(d) of the Money Laundering (Prohibition Act, as amended) and punishable under section 16 (2)(b) of the same Act,” count four reads.


In January, Shasore was invited by the anti-graft commission to answer questions on his involvement in the Process and Industrial Developments (P&ID) case.

The former Lagos attorney-general had represented Nigeria on the P&ID case.

The P&ID had won a $9.6 billion judgment against Nigeria in a British court. The company claimed it entered a contract to build a gas processing plant in Calabar, Cross River state, and that the deal collapsed because the Nigerian government did not fulfil its end of the bargain.

Shasore’s invitation by the EFCC came months after he had spoken of the part he played in representing Nigeria on the P&ID matter.

Prior to his speaking on his involvement in the case, the federal government had told a UK court that the former attorney-general colluded with P&ID to avert justice in the controversial gas supply purchasing agreement (GSPA) contract.

Employees of Keystone Bank Limited recently empowered 40 Nigerian youths by enrolling them on a digital skills training programme.

The beneficiaries who are university undergraduates, National Youth Service Corps members and fresh graduates were impacted with digital skills consisting of web development, designs and digital marketing. They underwent a 6-week intensive training session facilitated by ADE Digital Media Limited.

The initiative tagged, “The Keystone Bank Digital Skills Training Programme” was executed under the bank’s Employees Volunteering Scheme (EVS). The project, hinged on the bank’s CSR pillar, youth empowerment, addressed the current need for job creation and the acquisition of the skills of the future.

Expressing the importance of digital skills in Nigeria, Izore Bamawo, Divisional Head, Marketing and Corporate Communications, Keystone Bank, spoke on the need for Nigerians especially tech-savvy millennials and Gen-Zs to acquire a digital skill as it is currently one of the most sought-after skills across the globe.

“In recent years, digital skills have gained a huge level of popularity. Technology has been utilized to provide innovative solutions to everyday problems. As a result, the skill has become lucrative thereby creating wealth and job opportunities for players in the digital/technology ecosystem.”

“Many Nigerian youths have also embraced the skill and are churning out disruptive technological innovations thereby leading to job creations and business opportunities”

“At Keystone Bank, youth empowerment is an important aspect of our CSR activities. We are particularly passionate about positively impacting the Nigerian youths. We will continue to contribute towards youth empowerment because we truly believe that educating, empowering and developing the Nigerian youths will have a fundamental positive impact on our development as a nation.

“Hence, we embarked on this initiative and we could not be more pleased and proud to see the impact of the programme on the beneficiaries. The digital skill has exposed them to relevant job opportunities which will contribute to a reduction in Nigeria’s unemployment rate and ultimately improving the nation’s economic growth.”

The Keystone Bank Employee Volunteering Scheme is an integral part of the bank’s corporate social responsibility strategy which encourages the employees of the bank to be involved in voluntary socially impactful activities. The scheme leverages the bank employees’ skills, time and donations in positively impacting the social needs of the communities where it operates.

Keystone Bank is a technology and service-driven commercial bank offering convenient and reliable solutions to its customers.

The Managing Director of Sapphire Scents Limited, Adewale Aladejana, has been arraigned for obtaining money under false pretence to the tune of N12,000,000 (Twelve Million Naira only).

The Economic and Financial Crimes Commission, EFCC, arraigned Adewale on Tuesday before Justice M. A Madugu of the Federal High Court sitting in Bwari, Abuja on three-count charges bordering on misappropriation and obtaining under false pretence

This was contained in a statement posted on the agency Twitter handle on Friday.

It reads: “The Economic and Financial Crimes Commission, EFCC, has arraigned the Managing Director of Sapphire Scents Limited, Adewale Aladejana, before Justice M. A Madugu of the Federal High Court sitting in Bwari, Abuja, for obtaining money under false pretence to the tune of N12,000,000 (Twelve Million Naira only).

“He was arraigned on Tuesday, October 4, 2022, on three-count charges bordering on misappropriation and obtaining under false pretence.”

“Specifically, he allegedly collected the sum of N12 million from potential investors in his company, with a promise of turnover in six months, without offering any profit or returning the invested funds to his investors,” the statement added.

A staff of the Marywood Primary School, Ebute Metta, Lagos has told Justice Nicholas Oweibo of a Federal High Court in Lagos State that the All Progressives Congress (APC), candidate for Surulere Constituency II for the state House of Assembly, in next year’s general election, Mrs. Mosunmola Sangodara, forged her primary school certificate.

Testifying in a suit filed by one Olasunkanmi Kazeem Shittu to challenge Sangodara’s candidature on Wednesday, the witness said the APC candidate did not graduate from the school as claimed.

He said though the lawmaker was enrolled in the school, she couldn't complete her education in the institution. Hence, the management of the school couldn’t have issued any certificate to her.

Meanwhile, the cross examination of the West African Examinations Council (WAEC) witness brought about a lot of questions from the plaintiff's lawyer, Barrister Adebowale Kamoru.

The lawyer asked the WAEC witness identified as Mrs Omotosho Munirat to confirm maybe passport photograph was submitted by all the students that sat for WAEC in 1982.

The witness confirmed in the affirmative.

She also informed the court that they did not have the passport photograph of the bearer on agency’s system due to technological advancement and voluminous papers at its disposal.

The witness' statement however came as a big surprise and was alien to the judge.

The lawyer to the plaintiff in view of the fact that WAEC couldn't provide all the required documents, asked for adjournment in order for the agency to provide the required documents.

Justice Oweibo granted his prayer and adjourned the case to 19 and 21 October 2023.

This is coming few hours after Nigeria’s first higher educational institution, Yaba College of Technology, Lagos State disowned the High National Diploma (HND) certificate presented by Sangodara.

The Deputy Registrar of the institution, Olufunmi Dada, who disowned the certificate before the court on Tuesday claimed that the APC candidate did not graduate from the school as an HND holder.

Dada, who was led in evidence by Kemi Pinheiro (SAN), with Adebowale Kamoru, tendered the school convocation graduating lists for the period between 1992 and 1997, where the name of the defendant was not found.

He further claimed that the National Youth Service Corps (NYSC) exemption letter tendered by the defendant was forged and non-existent in the NYSC lists that came out within that period.

During cross-examination on Wednesday, Dada said that someone with the name, Tonade Rotimi Mosunmola enrolled for Business Administration programme in the school but didn't complete her programme.

According to the copy of the records presented by the him and admitted by the Judge as an evidence against the defendant, Tonade Rotimi Mosunmola still has one carry over to write.

“Therefore, she is yet to graduate from the school,” he said.

The witness further denied issuing any certificate in the name of Tonade Rotimi Mosunmola (This was the name the defendant claimed she used in the Institution) by the institution.

Hence, the submissions by the witnesses showed that, both the primary school and YabaTech certificates the defendant claimed she had were fake.

The family of Laolu Martins, one of the co-founders of Bukka Hut, a leading fast-food chain in Nigeria, has announced his death.

A statement released by the family on Wednesday said the quintessential banker with over 21 years of experience in investment banking, corporate banking, stockbroking, asset management and pension fund management, died in the evening of Tuesday, September 27, 2022.

“We hereby solicit the support and understanding of everyone as the family grieves the loss of our beloved Laolu in our privacy.

“Our kind request is that you support the family – wife, children, aged mother and father and his siblings with your prayers at this difficult time.

“Further announcements will be made by the family,” the statement said.

Martins started his career with PricewaterhouseCoopers in 1999.

He joined Investment Banking & Trust Company Plc now Stanbic IBTC Bank Plc where he served in the Financial Control and Trade Finance/Foreign Operations units of the Bank before being seconded to Stanbic IBTC Asset Management Ltd where at various times he was Financial Controller, Head Asset Management and lastly Head Stockbroking.

He later resigned in 2005 to join Shell Nig. CPFA Ltd, the Fund Manager of the Shell Companies in Nigeria Pensions Scheme where he was Head, Investments up till 2008 when he resigned to join Nigeria International Security Limited, NISL, an independent financial services firm specialising in investments within the Nigerian space.

In partnership with FirstBank – Nigeria’s premier and leading financial inclusion services provider – Verve International, Africa’s leading payment technology and card business, has launched its third National Consumer promo designed to reward users of FirstBank verve card with exciting gifts and cash prizes to appreciate their patronage and use of the card to carry-out their electronic banking transactions.

The ongoing 2-month promo will end on 30 October 2022 as 20 customers (10 customers per month) with the highest transaction count during the promo will be made millionaires, winning the sum of N1 million each. Also, N20,000 will be won by 25 customers monthly.

On the other hand, 2620 FirstBank verve cardholders that double their transactions every week, stand a chance to enjoy 10% cashback capped at N2,000 per customer.


Speaking on the promo Chuma Ezirim, Group Executive, e-Business & Retail Products, FirstBank said “we appreciate our partnership with Verve Card through the years; a partnership of empowerment and opportunities which include growing the economy, supporting new businesses and preventing unemployment. FirstBank verve card holders are encouraged to keep using their cards as it is a card offering that promotes safe, convenient and rewarding digital banking experience with 20 customers standing a chance to be millionaires at the end of the promo.”

Verve card is a secure debit card that allows cardholders to conveniently meet their daily financial needs such as payment for goods and services, airtime recharge, bill payments, funds transfer, etc. Verve card is accepted across all ATMs, POS, Web and Mobile Platforms in Nigeria.

The promo is also opened to new verve cardholders as non-verve cardholders are encouraged to visit the nearest FirstBank branch today to pick up a Verve card and start getting rewarded!

Only recently, FirstBank – in partnership with Verve – rewarded over 2601 FirstBank verve cardholders with various prizes; including N20,000 cash prize, N10,000 cash prize, N10,000 worth of airtime; power generating sets, refrigerator, cooking gas, smart TV and the grand prize of a brand-new car to a lucky winner.

A Federal High Court sitting in the Lagos State has granted an order for the Asset Management Corporation of Nigeria (AMCON) to take over the valuable assets of billionaire Tijani Babatunde Folawiyo, over an unpaid N727.9 million debt.

The court order was sequel to an application filed before the court by the law firm of Seun Omotoba.

Barrister Amobi Agu, moving a written address in support of the application, had urged the court to grant the following request:


“An order of the Honourable Court, granting leave to the Applicant to take interim possession of the property of the Respondent pending final determination of this suit;

“An order of the Honourable Court compelling the Respondent, his agents, servants and creditors to deliver to the Applicant possession of all his assets, bank accounts or any other asset wherever located in satisfaction of the Judgment of the Honourable Court delivered by Honourable Justice Ibrahim Buba in Suit No: FHC/L/CS/207/17 dated the 30th Day of October 2017 with accruing interest.

“An order of the Honourable Court compelling the Director-General of the Securities and Exchange Commission of Nigeria (SEC) other subordinates jointly and severally attached to him, and under his authority, control and/or supervision to assist the Applicant in securing and/or preserving the shares listed in the name of the Respondent on the floor of the Nigerian Stock Exchange.

“An order of the Honourable Court freezing the Bank accounts of the Respondent maintained with the following banks: Access Bank Plc, Citibank of Nigeria Limited; Diamond Bank Nigeria Plc; Ecobank Nigeria Limited; Enterprise Bank Limited; Fidelity Bank Plc; First Bank of Nigeria Limited, First City Monument Bank Plc, Guaranty Trust Bank Plc, Keystone Bank Limited, Skye Bank Plc, Stanbic IBTC Bank Plc, Standard Chartered Bank Nigeria Plc, Sterling Bank Plc, Union Bank of Nigeria Plc, United Bank for Africa Plc, Wema Bank Plc and Zenith Bank Plc.

“An order of the Honourable Court granting leave to the Applicant to take interim possession of the property of the Respondent at Block 138, plot 13, Tunde Joda Drive, Lekki Phase 1, Lagos State all of which belongs to the Respondent/debtor pending final determination of this suit. And for such further order or other orders as this Honourable Court may deem fit to make in the circumstances.”

The presiding Judge, Lewis Allagoa after listening to the submission and written address filed before the court by Barrister Amobi Agu, granted the orders as prayed.

The case was further adjourned till 16th of May, 2022.

In an affidavit in support of motion papers sworn to by a staff of AMCON, vested with the responsibility to recover the debt against the defendant, Jania Ochonogo and filed before the court by Seun Omotoba, it was alleged that by a letter dated February 05, 2004, that Spring Bank offered Companies de Logistic Nigeria Limited, a credit facility of N250 million for Duty payment/clearing cost for blue-chip companies; Door-to-door logistics; and finance of confirmed/unconfirmed letters of credit for blue-chip companies based on irrevocable Local purchase orders LPO.

Mr. Folawiyo is a director of Compagnie de Logistic (NIG) limited who was appointed by a valid resolution of the board of directors on 11t September, 2000.

The credit facility was granted to the Companies de Logistic Nigeria Limited Company by Spring Bank based on the personal guarantee and representation of one of the Directors that cheques would be issued from time to time to fully liquidate the facility through proceeds from LPO domiciled with the Bank.

AMCON acquired the Company’s loan from Spring/Enterprise Bank and the outstanding balance as at January1,2011 was N292,304,900.00 and the amount has grown to N533,396,381.11

The Companies de Logistic company received the full complement of the sum of N250 million as approved facility.

The loan agreements between the bank and the company had since expired and sums therein are due for repayment.

By a Writ of Summons dated 14th day of February, 2017 in suit number FHC/L/CS/207/17, AMCON commenced an action against Compagnie Generale De Logistique (NIG) Limited and the defendants, claiming =N=522,464,978.66.

This was the total outstanding debt due and payable to AMCON on a loan advanced to the Respondent’s company at 23% interest per annum from the date of filing the suit till judgment and thereafter at the rate of 10% per annum until final liquidation.

AMCON equally filed a Motion on Notice dated the 16th August,2017 praying the Court to enter final Judgment in default of appearance as per its reliefs in the Statement of Claim.

On the 30th October, 2017 the Court granted the said reliefs sought by AMCON in the said Motion on Notice and entered Judgment in favour of AMCON against the respondents in the sum of N522,464,978.66 at 23% interest per annum from the date the case was filed and till when Judgement will be delivered and thereafter at the rate of 10% per annum until final liquidation of the debt.

The Judgment Sum due from Folawiyo to AMCON as at February, 2020 was N=727, 967,870.03, being the outstanding judgment sum delivered by the Court on the 30th October, 2017 when the interest element is applied on the judgment sum.

Who should corporate responsibility and sustainability lessons be taken from? Some companies are still unclear about the concept but latching onto the sustainability mantra anyway, because it has become a marketing buzzword for business? Or a company through whose creed and deeds, over the many decades it has been around, people can see corporate responsibility and sustainability lived (first) and preached (subsequently)?

If the above set of questions constituted a question in an examination hall, it would be one of the easiest of questions to answer. Not one person would fail it. Outside the examination hall, the answer to this question that seems as easy and simple like the question of 2 + 2 may not be as easy and simple. It may be complicated by all the cleverly arranged noise and claims projected at people to make it difficult for them to see and accept the obvious.

So, it is incumbent on people who know, and care enough (like this writer), to keep stating and restating the obvious. This is in the hope that doing so would help others to take full cognisance of the obvious and not allow themselves to be bamboozled by image without substance and rhetoric without pedigree.


The concept of corporate responsibility and sustainability is not about the clever or manipulative use of marketing buzzwords by corporate citizens. It is about impact, net positive impact, in the lives of real, not imagined, people through the deliberate and well-planned activities of socially-responsible corporate citizens.

Even if history is no longer taught in most schools in Nigeria, the records are there. The records show that Nigeria has been blessed to have standing by her, at all times, a corporate citizen which understands the concept of corporate responsibility and sustainability.

This corporate citizen has been standing by Nigeria before the country’s founding, through its amalgamation, Independence and all the conflicts and crises Nigeria has gone through and still faces. Today, the corporate citizen still stands by Nigeria.

First Bank of Nigeria Limited, a lender of unmatched pedigree, a bank with a history of unparalleled support to Nigeria and Nigerians (right from the colonial era to date, even serving as Nigeria’s central bank at some stage of our national development), has been a corporate citizen like no other.

A brand that has backed innumerable groundbreaking projects across Nigeria and beyond, FirstBank has demonstrated that real impact that can be seen and felt by all, and not mere marketing buzzwords, is the real measure of an institution’s understanding of corporate responsibility and sustainability.

It is incontrovertible that whichever way corporate responsibility and sustainability is understood or defined, FirstBank is sure to tick all the boxes. Just name every parameter for assessing a company’s efforts in corporate responsibility and sustainability and match each against what FirstBank has been doing. Is there any parameter that FirstBank has not surpassed?

FirstBank has been living corporate responsibility and sustainability for most, if not all, of its existence as a going concern. Knowing it cannot do it alone, the bank has also devoted resources to efforts that will enable it to preach or pass the message so other corporate citizens, groups and individuals will emulate it.

One platform the bank has used effectively for this purpose is its Corporate Responsibility and Sustainability (CR&S) Week. The CR&S Week is a full working week that the FirstBank Group, in-country and across the world where it operates, dedicates to the promotion, execution and celebration of social responsibility initiatives.

The Sustainability Week also includes a huge kindness campaign to reorient citizens towards the right values and reignite acts of kindness in society. It is only one of the many ways FirstBank is living true to its brand promise to always put customers first.

And the Sustainability Week seeks to invite others (individuals and corporate citizens) to follow the bank’s example and begin to intentionally create positive impact in their immediate communities.

From the inaugural edition in 2017, where the theme was “Promoting Kindness: Putting You First”, the Sustainability Week has helped to reinforce FirstBank’s role as a nation-builder that is driving sustainable development across communities where it operates. It was an opportunity for the bank to encourage others (individuals and corporate citizens) to follow in its steps, even if all they can afford to take are small steps.

Taking small steps may have informed the choice of theme for the second edition of the Sustainability Week in 2018: “Touching Lives: You First”. The bank sought to debunk the notion that touching lives in meaningful ways and making an impact on society require big-ticket projects, whilst emphasising the power in the little things people do and the small steps they take.

After all, is it not little drops of water that make a mighty ocean, like the saying goes? And does the journey of a thousand miles not begin with a (small) step, like another saying puts it?

Just take a look at SPARK (Start Performing Acts of Random Kindness), a values-based initiative that raises consciousness promoting kindness to one another in society, which the bank started during the inaugural Sustainability Week in 2017.

Aimed at reinforcing FirstBank’s corporate culture of encouraging giving and volunteering among its staff and the larger society, its magnitude today and the many kind initiatives it has sparked off across the country could not have been imagined when the seed was planted five years ago. Incalculable manhours and financial resources from FirstBank staff and partners have been contributed willingly.

Children in orphanages, internally displaced persons (IDPs) in various IDP camps, widows and other underprivileged or vulnerable groups have been visited and their challenges alleviated if not totally eliminated. Scores of career counselling sessions with secondary school pupils across Nigeria has also been organised as part of the Sustainability Week, which has been the first of its kind in Nigeria’s financial services industry.

In 2019, the third edition of the Sustainability Week with the theme: “Ripples of Kindness: Putting You First” enunciated the values (or pillars) of the SPARK initiative to include Compassion, Civility and Charity. FirstBank believes that these values and the acts of kindness that flow as a result of embracing the values are critical to promoting and building peaceful co-existence and prosperity in society.

Among the key highlights of the 2019 Sustainability Week was a “Nice Comments Day” that was a day set aside to foster words of encouragement, support and kindness to people around one, regardless of ones’ familiarity or close ties, in recognition of the instrumental role kind words play in lighting up people’s day and bringing out the best in them.

Another highlight was the SPARK School Engagement that promoted the SPARK initiative in schools, with the objective of embedding the values of SPARK amongst school children at a young age so the values become part of, and habitual to, them as they develop into adulthood.

Due to COVID-19 pandemic and government-imposed lockdown, the year 2020 witnessed no edition of the Sustainability Week. Any attempt to stage the kinds of activities and events that usually accompany the Sustainability Week would have been counterproductive, spreading infections and possibly deaths instead of kindness and joy that the Sustainability Week has become synonymous with.

However, FirstBank’s avowed commitment to corporate responsibility and sustainability would not allow it fold its hands and just watch while COVID-19 and its debilitating effects tried to make living and learning difficult for most Nigerians.

Working virtually or remotely and, where it could not do otherwise, physically but in strict adherence to COVID-19 safety protocols, FirstBank executed several initiatives meant to ameliorate the very difficult situation in Nigeria then.

The bank contributed to efforts to provide palliatives to vulnerable Nigerians, announced a moratorium on repayment of loans, set up a special loan fund for businesses run by women, established another for school proprietors in collaboration with a state government and drove an e-learning initiative that sought to move one million school children to a safe online learning platform so their educational progress would not be set back due to COVID-19 restrictions, government-ordered lockdown and the closure of educational institutions for the greater part of 2020

“Kindness: A Way of Life” was the theme for the fourth edition of the Sustainability Week held in 2021. Highlights of activities of the 2021 Sustainability Week, designed to entrench a culture of kindness, included a practical-oriented training webinar for staff to embed a culture of kindness in the bank by driving understanding of how kindness (or the lack of it) can impact the workplace, the marketplace and the communities in which staff live and work.

Another important feature of the Sustainability Week was the “Kind Comments Days” that ran all week to inspire a consciousness of kind choice of words and consideration for others. There was also a dedicated programme in secondary schools designed to institutionalise SPARK by using school SPARK champions (including students and teachers) alongside other partners such as Junior Achievement Nigeria (JAN) and Lagos State government to inculcate the SPARK values in school children.

One other feature was the ground-breaking ceremony for the Lagos State government’s OCAAT (One Community At A Time) initiative to provide the Primary Health Care Centre at Ijedodo community in Alimosho LGA. Set up as an initiative to improve the health and welfare of the members of various communities in Lagos State, FirstBank partnered the government on the project as part of its contribution to global efforts to meet some specific Sustainable Development Goals (SDGs).

There were also webinars: a general webinar with the sub-theme: “Education: Does Kindness have a Role?”; and a millennial webinar with the sub-theme: “Making the Cyber World a Kinder Place” which sought to proffer solution to the question of how people could become kinder on social media platforms.

All the past editions of FirstBank Sustainability Week highlight the longstanding and relentless commitment of FirstBank not only to continue to live but also to preach the message of corporate responsibility and sustainability.

Given its unmatched pedigree in corporate responsibility and sustainability, FirstBank has earned the right to address all other corporate organisations as well as individuals and groups on matters of sustainability. The bank has earned its right to the people’s audience.

It is against this backdrop that FirstBank’s forthcoming 2022 Corporate Responsibility and Sustainability Week should be welcomed by other banks and corporate citizens, irrespective of industry, as an opportunity to come together and take lessons from Nigeria’s foremost corporate citizen with regard to corporate responsibility and sustainability.

FirstBank does not consider itself too big to take lessons from other corporate citizens in areas where they have distinguished themselves. So other corporate citizens should not feel too big to take lessons from FirstBank in this area where the bank stands highly distinguished.

Or can anyone claim not to know that if the concept of corporate responsibility and sustainability were to be represented by one corporate citizen per country on a world map where countries are denoted by their foremost corporate entities, it is unarguable that FirstBank would be the company eminently representing Nigeria on that map?

Culled from Leadership Newspaper

LandWey launches 'The Future Cities' to create landmarks for sustainable developments in Lagos


LandWey Investment Limited, one of the largest residential development companies in Nigeria has announced the launch of a new multi-million naira project tagged, ‘The Future City’ in its bid to tackle Nigeria’s housing deficit and expand to various locations within Lagos and its environs.

The new project was officially unveiled in Lagos on Thursday, September 1, 2022 at the company’s event for its realtors tagged, “The Sellabration Experience”.

Speaking at the ceremony, Mr. Wale Ayilara, the chief executive officer, LandWey, said the new project was “a new town development project with integration of nature’s green, humankind’s technology and innovation, primed to make city living smarter and more efficient while preserving and improving the planet’s fragile ecosystem.”

Ayilara added that the project provides answers to the predictions made by the United Nations (UN), that nearly all population growth up to 2030 will be in cities, with 96 per cent of this increase occurring in Asia and Africa.

In his words, “By 2040, according to the World Population Review, Nigeria will be approaching a population of over 300 million citizens. This incredible surge in our population demands that we urgently re-evaluate how our cities are designed and built to best meet the needs of future inhabitants.”

“This is why there is a need for new urban settlements and new districts, enhanced by technology and green energy, to make city living smarter and more efficient. Hence, the reason ‘The Future City’ was conceived.

“For more details about the Future City, visit the website,”

At the event, the real estate company also launched ‘Lagoonix’, ‘The Future City’ Corporate Social Responsibility (CRS) project to cater to the people of Makoko, a suburb of Lagos.

According to Ayilara, "Lagoonix was created for the Makoko community in response to the imminent threat posed by pollution and lack of sanitation.

“The objective is to develop new sustainable habitats in Makoko that use new and green technologies to meet shelter, energy, water and food needs of the people of Makoko while regenerating the marine ecosystems.

“And in line with our Build for Change social impact commitment to social and environmental change, 1% of all The Future City proceeds will be dedicated to this CSR initiative,

“Our goal is to combine forward-thinking urban design and new digital technology to create people-centered settlements that achieve sustainability and economic opportunity for growth."

Upon full activation, the company said some other features of ‘The Future City’ will include a farmhouse, fully solar-powered homes and an electric vehicle transport system.

The Federal High Court sitting in Lagos has ordered that Providus Bank Limited should transfer back the remaining balance of N329,454,650.28 alleged to have been fraudulently transferred from the account of one of the bank’s customer Aqua 10 Nigeria Limited.

Justice Peter Lifu also awarded the cost of N100,000 against Providus Bank Limited but in favour of the Plaintiff, Aqua 10 Nigeria Limited.

The judgement of the court was sequel to a suit filed before the court by Barrister Kelechi Chukwu on behalf of Aqua 10 Nigeria Limited against Providus Bank Limited and seven others namely: Jethra Designs Investment Limited, Vacubeg Group of companies limited, Heroes Heights construction company Limited, Vacubeg Investment Limited, North Alta Trading Limited, Abiodun Shoyombo Trading under the name and style of Seatea Enterprises, Abiodun Afeez Adeyemi Trading under the name and style of Adeyemi Digital Enterprises.

In an affidavit sworn to by the Managing Director of the company, Oladipo Okuntola, he alleged that sometime around 9th and 12th of July,2021, the total sum of N558,569,000 were removed from the account of his company in Providus bank Limited to the account of Jethra Designs Investment Limited in another bank, the funds were moved in 8 tranches.

He said the funds were meant for the payment for goods to be purchased from HG Honkong company Limited and new silver industry company Limited in China.

He added that the funds were again moved from the account of Jethra Designs Investment Limited to Vacubeg Group of companies limited.

Okuntola said thereafter, Vacubeg in turn moved the funds to the account of Heroes Heights construction company Limited, and that the funds were again moved by Heroes Heights construction company Limited account to Vacubeg Investment Limited.

He explained that Vacubeg Investment Limited, upon receiving the funds moved same back to the account of Vacubeg Group of companies limited and then Vacubeg Group of companies limited move the funds to the account of North Alta Trading Limited.

He said the total sum of N329,454,650,296.28 were moved to the three accounts, stated below domicile in Providus bank: North Altappq Trading Limited -N93,361,828.97; Abiodun Shoyombo Trading under the name and style of Seatea Enterprises- N185,133,525,.08 and Abiodun Afeez Adeyemi Trading under the name and style of Adeyemi Digital Enterprises-N50,959,296.23.

“Subsequently, it was discovered that internet fraudster were behind the companies and business names sued as 2nd to 8th defendants in this suit, and that the persons behind the companies had fled from Nigeria.

“The matter was reported to the Interpol, and through Interpol, the movement of the plaintiff’s funds and the persons involved in the fraud were traced. The Plaintiff has requested that its funds traced to the 6th, 7th and 8th Defendants accounts in the Providus Bank who is also the Plaintiff’s bankers be returned, but the bank is insisting that without the court’s directive or order, the bank will not return the Plaintiff’s funds traced to the 6th, 7th and 8th Defendants’ accounts in the Providus bank.

“That unless the Court intervenes, the Providus bank will not return the Plaintiff’s money traced by Interpol into the accounts of the 6th, 7th and 8th Defendants domiciled in the bank. That it is in the interest of justice to grant this application.

“That the Defendants will not be prejudiced by the grant of this Originating Summons, more so, when the individuals behind the 2nd to 8th Defendants are on the run,” he said.

The bank’s counsel Ifeoluwa Badejo submitted that the bank reversed the sum of N50,700,000, from the account of the 6th defendant to the Economic and Financial Crimes Commission following the order issued by Justice Chukwujekwu Aneke, and that same was not done with intention of interfering with justice in this case.

Justice Lifu in his judgement, ordered as follows: that the first defendant, that is Providus bank limited “is hereby ordered or directed to move or transfer the plaintiff’s fund in the account of the 6th, 7th and 8th defendants to the plaintiff’s account kept with her.

“Since the sum of N50,700,000 has so far been reversed, the remaining balance in the total sum of N329,454,650.28 that is, less the N50,700,000 should be transferred to the plaintiff’s account forthwith.

“A cost of N100,000 is hereby awarded against Providus Bank Limited but in favour of Aqua 10 Nigeria Limited.”

They said telephones were for the rich and we believed them.

That was probably why when the GSM era dawned, SIM cards were sold for more than the minimum wage and so priced far above the reach of the ordinary Nigerian.

But it took the coming of a proudly Nigerian company, one whose avowed brand PURPOSE was to prioritise PEOPLE over PROFIT to change the sorry state of affairs.


The moment Glo threw its hat into the ring, it crashed the price of SIM cards and made sure that the ordinary Nigerian, whether in Lagos or Lafia, Benin or Bauchi could gain access to the technological marvel that was GSM.

They said it could not be done! That the technology did not exist and the ecosystem was not ripe for it.

But Globacom challenged those false assumptions, literally tore down made-up dogma and defied naysayers as it pioneered per second billing in a disruptive move that hundreds of years from now will be remembered as the true marker of what is described as Nigeria’s telecom revolution.

It was ground breaking and liberating and with Glo’s introduction of low priced handsets, the ordinary Joe and Janet from Calabar to Kano, Ilorin to Ile ife was suddenly able to enjoy what the rich were enjoying – instant connection with loved ones across miles and kilometers enabled only by a handset with an affordable SIM card and talk billed by the second.

With their own phones in their hands, the ordinary Nigerian man and woman on the street who needed to make telephone calls no longer had to join a long queue at NITEL. It was finally good bye to what the Nobel laureate Wole Soyinka once described as “public hide and speak.”

Globacom had done what “they” said was impossible and by so doing empowered the poor and ordinary Nigerians to enjoy what someone had once said was the exclusive preserve of the rich. Globacom made them “glo with pride” as they “ruled their world” by unleashing their “unlimited” potentials.

And this has been evident in almost every sector.

In sports, Globacom is the unassailable champion when it comes to supporting and promoting football in Nigeria and outside. A quick roll call will include CAF awards, Nigerian National teams, Supporters Club, support for Nigerian and Ghanaian leagues, promotion of the Glo Soccer Academy as well as EPL sponsorship.

But it is not only sports. Glo’s footprints can be seen clearly in the arena of culture and entertainment. Highlights remain “An evening with Wole Soyinka” as well the Wole Soyinka Prize and the cultural fiestas; Ojude Oba, Lisabi and Ofala festivals.

Globacom remains one of the biggest supporter of Nigeria’s creative industries. It led the way in the use of celebrities from the world’s of music, stage and screen as well as comedy as brand ambassadors and models. And in doing so Glo did not wait to jump on trending stars, it embraced old and new, rehabilitating and supporting aging and fading stars of screen and entertainment as well as superstars like Sunny Ade, Daddy Showkey Dbanj, M.I, PSquare, Basket mouth, Omawumi, Chioma Akpotha, Rita Dominic, Gordons while also giving a leg up to new talents like Teni and Simi as well as more recent ones like skit makers Broda Shaggi and Nosa Rex to name a few.

Its support for the creative industry is both individual and institutional as evident from the prosecution of initiatives targeted at youth empowerment/development of Nollywood as well as support for Nigerian music talents through the sponsorship of entertainment shows such as Glo Battle of the Year Nigeria, Rock ‘n’ Rule, Glo Naija Sings, Laffta Fest and the world’s number one music singing talent reality TV show, X Factor, which berthed in Africa for the first time in 2013, as well as Slide and Bounce concert, an entertainment tour which went round all the Geo-political zones of the country.

Away from the creative industries, Globacom has empowered Nigerians by creating jobs and helping entrepreneurs find their footing through provision of tailor-made business solutions for SMEs who are the engine room of growth in developing economies like Nigeria.

A consideration of Globacom’s job creation bonafidess will highlight the company as probably the only Mobile Network Operator still running its own towers and providing direct and indirect employment to over 10,000 Nigerians. The company has also created thousands of employment opportunities in the Niger Delta and other states through Call Centre Operators with many transforming into full-fledged business centres.

In a technologically driven world hungry for data and superfast connectivity, Globacom cognizant of the fact that Africa is bandwidth poor and committed to helping Nigeria achieve its bandwidth penetration target of 70% by 2025 single handedly financed a 9,800 kilometer sub-marine cable as its contribution to accelerating Africa’s march to digitalization through sufficient bandwidth (Glo 1) and avant-garde connectivity solutions.

Pan-Nigerian in its coverage with millions of subscribers across the states, Globacom has launched its payment service bank in what appears an early birthday present. MoneyMaster PSB, the company says, will revolutionise and disrupt the payment service bank ecosystem like Globacom did many years ago in telecoms with exciting services and unique offerings.

19 years later, the challenger brand has matured and become a dominant force in the ecosystem with continental footprints and global aspirations.

And despite the passage of the years and the vagaries of time, Globacom has remained true to its purpose of putting the people first by giving them voice and data connectivity which are success enablers in our technologically driven world.

19 Gbosas for the Grandmaster of Data!!!

Toni Kan is a staff of Globacom

Socially-conscious Nigerian fashion brand, HUMANx, is set to unveil its latest design collection on the Africa Fashion Week Nigeria (AFWN) and Lagos Fashion Fair (LFF) platform.

The event will hold at the Eko Convention Centre, Eko Hotel and Suites, Lagos from 7th to 9th September 2022.

Each in its 8th edition, the combined AFWN and LFF event represents the largest stage for emerging and established fashion designers from Africa to showcase their talent and creativity to a global audience. And HUMANx will debut its Summer-Spring 2022 collection in the live show on Friday, 9th September, alongside other Nigerian and African creatives.


“At HUMANx, we are always pushing the boundaries of creative expression. And we can’t wait to present our new 4-series collection to the world,” said Gbemi Elekula, founder and creative director. “The SS22 Collection features stunning ensembles that exude the essence of nature, its superior aesthetics and a message to let its beauty be, in its purest form.”

Reiterating the brand’s essence, Elekula said: “All women deserve expression. And we offer arty, edgy and eclectic clothing and accessories—in beautiful bright colours and fabric combinations—to compliment all ages and figure types. Our aim is to help the wearer stand out while doing good. Each HUMANx sale unlocks access to better sanitary products for females in rural Nigeria.”

According to the organisers, other emerging Nigerian fashion brands billed to showcase their works at the 3-day event include AdirestylesNG, Ego by Ego, Fashion by Ashani, HardleySeen, KaffyKreate and Max Chidera Official. Joining on the Pan-African runway are Nivaldo Thierry from Mozambique, YawsCreations from The Gambia, and Hortense Mbea Afroplan from Ethiopia. It will feature an Adire workshop by Adire Oodua Textile Hub and a masterclass session by serial entrepreneur, Toyin Lawani.

AFWN is an indigenous fashion platform created by Ronke Ademiluyi as a sister event to Africa Fashion Week London (AFWL)—the biggest festival of African fashion in the United Kingdom, set up to showcase the best of Nigeria and Africa’s emerging creative design talents. LFF is an International Fashion Exhibition founded by Ayo Olugbade. The event is put together to showcase the elegant nature of fashion within the African clime, as well as to give the perfect opportunity for fashion lovers to connect with fashion vendors from all over the country.

An initiative of GbemiDH, a multi-creative enterprise founded by uber-talented artist Gbemi Elekula, HUMANx aims to bring about an end to period poverty in Nigeria through Perioducation (Period Education), Provision of Period Products, and Collaboration with Stakeholders. It organized its first Outreach at the Gurku IDP community in Nasarawa State in March 2021, and the second at the Takushara community in Abuja in March 2022, enlightening the women on menstrual hygiene management while also donating sanitary kits and teaching them how to make their own reusable sanitary pads.

In furtherance of its commitment to tackle unemployment and encourage entrepreneurs in Nigeria, Keystone Bank Limited has empowered three Nigerian innovative start-ups with N9 million grants.

A statement by the bank said the initiative, which was in partnership with Kleos Advisory, began in January 2022 under its scheme tagged ‘Keystone Start-up Advantage Programme (KSA), a specialized incubator programme with offerings to address the needs of startup businesses.

The retail lender disclosed that the programme offered 30 micro, small and medium enterprises (MSMEs) and startups, the opportunity to go through a three-month investor readiness programme designed to have groups as well as one-on-one mentoring and coaching sessions.


“The platform created an opportunity for innovative SMEs and tech start-ups to connect with potential investors, tech thought leaders and hear their success stories first-hand, vis-a-vis the knowledge and skills needed to fast-track their businesses to the next growth phase.

At the end of the incubator period, three successful participants won N3 million grant each to support their business operations. The winners emerged at a ‘Demo Day’ held on Friday, August 5, 2022, at Keystone Bank’s head office in Lagos. At the event, participants pitched their business ideas to five judges for a chance to win the grant.

The three successful SMEs/start-ups who won the grant are: XDC Manufacturing – Oluwatobi Oyetimein; Natal Cares – Uche Udekwe and Kahdsole Designs – Chioma Ukpabi.

Speaking at the Demo Day, the Divisional head, Retail, SME and Value Chain Mr Anayo Nwosu said he was delighted that young Nigerian entrepreneurs were thinking outside the box to provide innovations and solutions to prevalent issues in the country. He added that all the participants were winners as they all had innovative products and services for the market.

Nwosu further disclosed that the vision of the bank was to impact 200 startups annually and up to 1,000 startups in the next 5 years through the Keystone Start-up Advantage Programme.

“As you know, capacity building remains key for the growth and development of SMEs, because SMEs in every part of the world are the livewire of the economy.

“That is why as a bank, we shall continue to lend our support towards the growth of the sector,” he said.

Keystone Bank is a technology and service-driven commercial bank offering convenient and reliable solutions to its customers.

It was not hard to see why. Millions of subscribers turned to Glo who had shown that the impossible was possible to the chagrin, most probably, of the board of directors of rival companies.

To stay in the flow, MTN and Econet beat down their prices, from SIM cards to calls, SMS and much else. It was as if Adenuga had come to show them the way this kind of business is done. Today, Glo is as much a household name in Nigeria as MTN and Econet now Airtel after several reincarnations and as it turns 19, the proudly Nigerian company is glowing with pride and more than certain to glow brighter/ better as the years go by.

Access Bank Plc, through the Accesspreneur program in partnership with the National Youth Service Corps [NYSC] has empowered 20 NYSC corps across the country with exceptional ideas with N30 million in grant.

The Access Bank noted that a total of N30 million was given out to corps members with winning entrepreneurial ideas in Abuja, Akwa Ibom, Bayelsa, Edo, Ekiti, Ogun, Ondo, Oyo and Rivers states with the star winners receiving N1million each.

The Group Head, Consumer Banking, Access Bank Plc, Adaeze Umeh stated this during the National Youth Service Corps (NYSC) Access Bank Accessprenuer competition held in Abuja.

“Access Bank has been in a strategic partnership with NYSC since 2016. The relationship further evolved into the launch of Accessprenuer: The NYSC edition in February 2021. So far, we have completed six editions of Accessprenuer competition, impacting over 390 corps members with over N165m seed capital. We have also created a Facebook community for all Accessprenuer winners to be able to interact freely amongst themselves and inspire other young people with similar aspirations. The Facebook community has about 5,000 members,” Adaeze concluded.

Some of the beneficiaries of the Accessprenuer competition expressed their profound gratitude to the bank for the financial support adding that it will go a long way to helping them achieve their dreams.

Abuja star-prize winner, Laura Momodu, a fashion designer thanked the bank for the gesture.

She said, “I thank Access Bank. I didn’t expect to win because fashion designing is something that everybody does. I want to say that I do not take this for granted and you will definitely see my name on TVs and billboards.”

Also, the first runner-up, Vivian Charles who was awarded with N750,000 for her ideas on healthy spices used for meals, was full of appreciation to the bank.  She said, “I say a very big thank you to Access Bank; Access Bank has been able to help me achieve my dream in no small way. This is huge; this is massive to my business and will actually help me push forward.

“A very big thank you to Access Bank and I pray that utilizing this cash for what it is actually meant for, my business will not just grow but be heard across the globe.”

The Bank also rewarded other Corp members in the 3rd, 4th, 5th, 6th -10th positions with N400,000, N250,000, N150,000, and N100,000 respectively.

The Economic and Financial Crimes Commission (EFCC) Wednesday arraigned an internet influencer, Portia Emilia before a Lagos Special Offences Court, in Ikeja over alleged N110 million fraud.

The social media influencer was arraigned alongside her company Savanah Crest Investment Limited before the court.

The defendants, who were docked before Justice Abike Fadipe are facing a six count charge bordering on conspiracy, obtaining by false pretense and stealing preferred against them by EFCC.

EFCC alleged that the offences were committed sometimes in 2018 in Lagos.

The commission said that the defendants allegedly conspired amongst themselves and stole the sum of N50 million.

The charge reads: “That you Portia Anthony Emilia and Savanah Crest Investment limited with intent to defraud dishonestly stole and converted to your use the sum of N50 million.

“With intent to defraud, fraudulently obtained the sum of N20 million from one Racheal Akintola and dishonestly converted to personal use.”

“That you Portia Anthony Emilia and Savanah Crest Investment Limited with intent to defraud dishonestly obtained the sum of N20 million from on Wendy Daniel.


“ That you Portia Anthony Emilia and Savanah Crest Investment limited with intent to defraud dishonestly obtained N20milion from one Ruth Boloatte.”

The offences committed are contrary to and punishable under Sections 411, 287 (5) criminal law of Lagos State.

Sections 280 (1),(2) 8, 285 (1) and 278 (1) (b) of the criminal law of Lagos State 2011.

And Sections 1 (1) (2) and (3) of the advanced fee fraud and other related offences Act No 14 of 2006.

However, the defendants, pleaded not guilty to the charges.

Following the plea of not guilty of the defendants, EFCC Counsel, Innocent Akanno, asked for a trial date and for the defendant to be remanded pending the perfection of their bail condition.

The defence counsel, M.Balogun informed the court that they have filed a bail application and same as been served on the prosecutor.

EFCC’s Prosecuting counsel affirmed the service and the court grants Balogun leave to move the bail application.

While moving the bail application, Balogun told the court that the first defendant is not a flight risk as her International passport is with the Commission and she is on the path of settlement.

Akanwo in his response objected the bail application and urged the court to grant her a condition that would ensure she didn’t jump bail.

In her ruling, Justice Fadipe noted that the court is convinced that the defendants is not a flight risk, having not jump administrative bail at the Commission.

Justice Fadipe, however, granted her bail in the sum of N10 million with a surety who must be a relative, and have a bank insurance of N10 million and a landed property.

Consequently, the judge remanded the defendant in the correctional center pending the perfection of her bail conditions.

The case was adjourned till September, 23, for trial.

All traditional rulers across the length and breadth of Ogun State have now endorsed the second term bid of Governor Dapo Abiodun.

This happened as the governor’s ambition received another boost during the weekend when the monarchs in Yewa Traditional Council, declared their support for him to continue in office beyond 2023.

This completes the cycle of endorsements by traditional rulers in the state as the Ijebu and Egba monarchs had earlier gave their supports to the governor.

Conveying the decision of the Yewa Council, the Olu of Ilaro and Paramount Ruler of Yewaland, Oba Kehinde Olugbenle, who was accompanied by other traditional rulers spoke at the 70th birthday of a renowned business man, Alhaji Akeem Adigun, held in Lagos, saying, the monarchs in Ogun West are united and solidly behind the emergence of the governor a second term.

Oba Olugbenle, who noted that the “case is closed” with regards to the forthcoming general election in the state, said “all those who are yet to come to terms with the reality will soon do so”.

The monarch also commended the humble nature and the love of the governor for the people of Yewaland, while assuring the governor of the total support of all the sons and daughters of Yewaland.

“At the Yewa traditional council, we don’t have any pending fight any longer over any governorship candidate, member of the House of Representatives or the Senate, the case is closed, as far as we are concerned.

“We thank you for the love you have for us in Ogun West, I want to assure you that our sons and daughters are solidly behind you, don’t be afraid.

“Your Excellency, all those who are yet to understand and face the reality will soon understand, some of us totally understand, we would give you that resounding victory through our votes,” the Olu of Ilaro said.

He acknowledged the decision of the governor to name the celebrant as a member of the Governing-Board of the Ogun State InstItute of Technology, Igbesa, expressing confidence that the celebrant and others from Yewaland appointed into various governing-boards would add more value to the institutions they were appointed into.

Earlier in his remarks, Governor Abiodun described the celebrant as an embodiment of humility who he said is very focused, calm and never stops to help those in need.

Abiodun, while appreciating the celebrant for his support towards the emergence of his administration in 2019, noted that that the celebrant is still solidly behind his administration.

Residents and road users have continued to decry the deplorable condition of Orchid Road, Lekki, in Eti-Osa Local Government Area of the state and the menace caused by commercial motorcyclists, popularly known as ‘okada riders’ in the area.
On the bad road condition, the residents under the aegis of Lekki Conservation Estates Community Development Association (LECECODA), the community’s association, described the 6.5km road as the worst in the ‘New Lagos’.
In a statement co-signed by Mr. Osas Airen, Mr. Bode Akinwande and Mr. Ovie Daniels, LECECODA’s president, vice-president and general secretary respectively, the residents noted that it had written the immediate-past government under Mr. Akinwunmi Ambode, but nothing was done, “not even a palliative or rehabilitation work took place.”
The community, however, appealed to the state government led by Mr. Babajide Sanwo-Olu to urgently rehabilitate the road to alleviate the suffering of the residents of the area. It added that the urgent rehabilitation of the roads would save lives and reduce the untold hardship being experienced by people in the area and further create an enabling environment for commercial activities to boom.
According to the residents, “We reached out to the immediate-past administration of Lagos State, but nothing was done. Not even a palliative or rehabilitation work took place.
“With the present administration in office, we represented our case backed with pictorial evidence of the deplorable state of the road but treatment received was exactly the same.
“We were, however, later informally informed by the honourable member representing Eti-Osa Constituency 1 in the Lagos State House of Assembly, Hon. Noheem Adams that the road had been included in the budget for 2022 without any formal communication to the association in this regard.
“It's painful to note that the recent downpour in the state completely cut the community off the major highway leaving us in the lurch with the road not motorable.
“It's pertinent to point out that Orchid Road is a major link to Lafiaji, Ogombo and Abraham Adesanya. As a matter of fact, if this 6.5km stretch gets the desired attention, it would ease the traffic pressure on the major highway especially the bottleneck created by the ongoing road/bridge construction around VGC as this would be a major outlet for the traffic from Sangotedo and its environs.
“The absence of a constructive response from the state government and all its representatives at different levels necessitated our move as a community to task the residents, business owners and developers to mobilize a palliative initiative on the road.
“In truth, this has been extremely stressful financially on the residents and business owners.
“To this end, we are appealing to the Lagos State government under the leadership of His Excellency, Babajide Sanwoolu, to come to the aid of residents and give us a befitting road on Orchid Road. It's a 6.5km road. This is an appeal for urgent intervention.
“We have a huge population of taxpayers and land use charge payers in this community; therefore, we deserve to commute without stress. The economy is inflicting a lot of pain on the citizens already, plying a bad road to work impacts on life mortality rate and destroys the cars of the residents thereby increasing the financial burden.”
In another development, the residents have also cried out over the activities of commercial motorcyclists (okada riders) in the area saying this was causing them more harm than good.
This is coming despite the total ban placed on okada by the Lagos State government in some parts of the state, including Eti Osa Local Council Development Area (LCDA) where Orchid Road is located.
The residents further called on the Lagos State governor to save the community from the menace by sustaining the ongoing clampdown on commercial motorcycle operators in the area.
According to the association, the “Orchid Road is under siege by okada riders! There was a near fracas incident recently involving one of the riders and a female resident whose side mirror was knocked off; she was eventually swarmed by over 20 okada riders demanding she pays them N30,000 or they’d burn her car.
“This is not the first-time residents have been terrorised by motorcycle riders on Orchid Road. Indeed, okada has been an environmental nuisance and many residents have had their fair share of their sheer recklessness.
“Our wives, daughters and sisters are being harassed daily on this road.
“Lagos State government should come to our aid. This is beyond us as an association, please."

…reinforces Firstbank’s leading role in promoting financial inclusion in Nigeria

The Bank’s Firstmonie Agents play a critical role in promoting financial inclusion in the country
The Bank currently has over 180,000 Firstmonie Agents spread across 772 Local Government Areas in Nigeria
Since 2020, FirstBank has economically empowered thousands of its Firstmonie Agents with over 100 billion naira credit facility
First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider has announced that its agent banking network – Firstmonie Agents – spread across the nook and cranny of the country has collectively processed transaction volume in excess of 1 billion, amounting to over 22 trillion naira.

The Bank currently has over 180,000 Firstmonie Agents, spread across the country’s 772 Local Government Areas.

Firstmonie Agents have been integral to bringing financial services closer to the underbanked and unbanked segment of the society, providing convenient banking services that are easily accessible, thereby saving time and travel costs for individuals in the suburbs and remote environments with no access to financial services.



Popularly referred to as the ‘Human ATM’, Firstmonie Agents are empowered to reduce the reliance on over-the-counter transactions while providing convenient personalized services. Amongst the services carried out by the Agents include; Account Opening, Cash Deposit, Airtime Purchase, Bills Payment, Withdrawals and Money Transfer.

Through various empowerment and reward schemes implemented to put its Firstmonie Agents at an advantage to economically impact their immediate communities whilst importantly having their business sustained, the Bank’s Agent Banking scheme has remained a toast to Nigerians, irrespective of where they are in the country. Amongst these schemes is the Agent Credit – launched in 2020 – which has had the Bank provide credit facilities to the tune of 238 billion naira to its teeming Firstmonie Agents.

Expressing his appreciation to the Firstmonie Agents, Dr. Adesola Adeduntan, CEO, FirstBank said “since the relaunch of our Agent Banking scheme in 2018, our Firstmonie Agents have played a vital role in bridging the financial inclusion gap in the country, as many more people have been able to undertake various financial and business transactions in cost-effective ways, thereby saving a lot of time and money in travelling over long distances for basic banking services.“

“We are delighted by the giant strides of our Firstmonie Agents in promoting financial inclusion and commend them for their efforts in taking banking to the doorsteps of Nigerians – irrespective of where they are – in a very effective way”, he concluded.

The management of Access Bank Plc revealed that the bank has embarked on a business conversation with its customers especially the Small and Medium Enterprises (SMEs) with a view to support and promote their business engagement through sharing of different business promotion and protection bundles the bank offers.

This was disclosed by the bank’s Deputy Managing Director, North,  Mr Victor Etuokwu during the Access Bank cocktails and business conversations held in Kano.

According to him, the bank has found it very important to engage and interact with its customers to effectively support its customers, especially the SMEs to achieve success in their businesses.

Similarly, in her remarks, Group Head, Emerging Businesses unit of the bank Mrs Ayodele Olojede stated that the bank has developed enough business protection and promotion bundles that will allow for easy ways to grow any SMEs and other businesses adding that there are bundles that allows businesses to access loans of up to N10 million without any collateral.

She further explained that the bank has also introduced and affordable and accessible insurance scheme against different disasters that may affect any business establishment.

However, the North-west regional Sales Director of the bank , Aminu Inuwa stated that it is apparent that 90% of the world’s economy is being controlled by SMEs as back bones of such economies hence the bank’s commitment to support and promote SME’s activities with different varieties of loans that will enable them grow in their businesses.

The Police Special Fraud Unit, PSFU, Ikoyi, Lagos State, Nigeria, has arraigned a medical drugs supplier, Makinde Olufemi Abiodun, before a Federal High Court sitting in Ikoyi, over alleged N35 million Local Purchase Order (LPO) fraud.

Besides, Makinde was also charged by the Police for the issuance of dud cheques.

Makinde was arraigned before Justice Nicholas Oweibo on two counts instituted by the PSFU.

According to the prosecutor, Chukwu Agwu, the defendant whose company name bears MedHub Pharmaceutical Stores, had sometimes in February 2021, with an intent to defraud, obtained the sum of N35 million, through his Sterling Bank’s account number 0080512999, from the duo of AYODELE Adeoye Adetola and Adeniran Adesoji Olawale, with the pretence that he wanted to use the money to finance LPO to supply drugs to Ogun State University Teaching Hospital, OSUTH.

The prosecutor also revealed that the defendant had promised the fraud victims of Return on Investment, RoI, which he refused and failed to fulfil.

Agwu further argued that when the defendant was unable to pay back the money as promised, he issued several bank cheques to the fraud victims, in a bid to reimburse them, but were rejected and returned due to insufficient funds in his account.

The prosecutor insisted that the alleged offences contravene Sections 1(1)(a), (b) and (c) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 No.14 of 2006, but punishable under Section 1(3) of the same Act. Nigeria 2004, and Section 1(1)(a) of Dishonoured Cheques Offences Act, Cap. D11, Laws of the Federation of Nigeria 2004.

But the defendant pleaded not guilty to the alleged offence, following which his lawyer told the court that there is a bail application and the same has been served on the prosecutor.

The lawyer pleaded with the court to admit his client to bail in the most liberal terms, as the charge against him is a bailable one.

Opposing the application, the prosecutor told the court that he had filed a counter to the application and urged the court to decline to grant the bail application.

The prosecutor specifically informed the judge that the defendant, since after his administrative bail in our office surreptitiously packed out of his known residence at 6, Adebanke Ajayi Street, Soluyi-Gbagada, Lagos, to an unknown location.

He also told the court that the defendant had exhibited questionable character since the beginning of the case and that there is a likelihood of jumping bail and interfering with witnesses to truncate the case.

Agwu equally hinted the court that the defendant is a flight risk, adding that his disappearance from “our office since he was granted administrative bail to avoid being arraigned shows that he will jump bail if granted to him.”

After entertaining arguments from lawyers, Justice Oweibo admitted bail to the defendant in the sum of N30m with two sureties.

Justice Oweibo ordered that the sureties must be landed property owners within the court’s jurisdiction, adding that the defendant must surrender his travel passport to the court.

The judge also directed that the defendant be remanded in the custody of the Nigerian Correctional Services, NCoS, until the perfection of bail terms.

Justice Oweibo adjourned the matter until October 27, 2022.

A Lagos based non-governmental organisation, WeForGood International, through the support of organisations such as IHS Nigeria, has disbursed N104 million to viable eco-friendly sustainable enterprises owned by young African entrepreneurs between 18 and 35 years.

This was disclosed last weekend in Lagos by the Chief Executive Officer of WeForGood, Ms. Temitayo Ade-Peters, during the 2022 Sustainable Solutions Africa Project Conference to mark the United Nations’ World Youth Skills Day with the theme “Promoting Eco-Focused Solutions Africa’s Pathway to Sustainable Growth.”

Ade-Peters said: “In the past three years, through our fellowship programme, we have directly supported close to 60 African startups with training and coaching and facilitated over $250,000 to promote sustainable solutions on the continent.

“We’ve reached about 1,400 youths and entrepreneurs exploring skills for impact to further scale their reach. The start-ups we support run for-profit and not-for-profit businesses addressing one or more areas of the SDGs.” She said that the conference was focused on innovative solutions that addressed SDG-focused environmental challenges and to provide strategies that would help youths to harness and maximise their skills and talents in response to the increasing call for climate actions, adding that “every young person here will leave this conference well inspired to embrace and explore opportunities to build a sustainable Africa.”

She said that enterprises that qualified for funding from the organisation must be economically viable and have eco-solutions projects that would enhance environmental sustainability. She also said that “through the support of IHS Nigeria, we have opportunity for young people to get up to N3 million to support their individual projects” that could be used to create sustainable solutions to solve Africa’s problems.

The Senior Special Assistant to the President on Sustainable Development Goals (SDGs), HE, Mrs. Adejoke Orelope-Adefulire, in her special remark during the conference said that the participation of youth in the advocacy for a real shift is essential in order to combat climate change. Orelepe-Adefulire said: “Government, private sector and civil society must all look towards young people, as we aim to strengthen both formal and informal education on climate change and viable lifestyles. In addition, sustainable production and consumption patterns must be promoted and supported by the youth as environmental champions in their local communities.”

She added that “we are partnering with UNDP to launch six SDG Innovation Hubs across the country which will prioritise the engagement of young people as catalysts for innovative technical, technological and business solutions to help us accelerate the achievement of the SDGs.”

A panelist during the conference, who is also a Human Resources Consultant, Mrs. Sandra Iheanacho, said that education is very essential to produce young Nigerian entrepreneurs that would become job creators.

Iheanacho said: “To take care of tomorrow we have to prepare by taking care of the education of our youths that are capable to create jobs.”

The Chief Executive Officer of The Illuminator’s Academy, Ms. Yejide Aina, who was among the panelists during the conference, said that Nigerian youths need quality educational curriculum that would equip them with innovative and entrepreneurial capacity to create economic opportunities in the country’s economy.

Another panelist who is the Head, Startups, Lagos Innovates LSETF, Ms. Ireayo Oladunjoye, tasked young entrepreneurs to acquire skills that would imbue them with leadership skills to influence their environment.

The Director, Corporate Excellence and Programme Management at IHS Nigeria, Ms. Oluwatoyin Aralepo, advised the young entrepreneurs to base their entrepreneurial development on three leadership ladders of personal vision, higher standard and influence. Aralepo said: “Leadership has to be strategic and patient to be able to carry all members of the team along to achieve the group’s objectives.”

Apart from the intellectual discussions that gave participants a rich time of learning and networking opportunities, the conference, anchored by the delectable Woli Arole, also featured other side attractions such as entertainment, quizzes and raffle draws with amazing gifts such as laptops, home gadgets among others won by attendees.

Interested participants can register to apply for the next cohort of the Sustainable Solutions Africa Fellowship Program for free by visiting the official website.

The  National Youth Council of Nigeria (NYCN) has blamed the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele’s poor economic management policies for the recent free-fall of the Naira.

The Naira within the week depreciated to an all-time low of N730 to a U.S dollar at the parallel market.

President of the NYCN, Comrade Solomon Adodo, stressed that statements credited to the CBN Governor alleging that the current free-fall of the Naira against other major currencies was as a result of the non-remittances of dollars to the foreign reserve by the NNPC Ltd, without highlighting the reality of the causative oil and non-oil related factors including a drop in Nigeria’s crude oil production, growing petrol subsidy, an unsustainable dual exchange rate system, reduction in foreign direct investments and growing dependence on importation across many sectors of the economy as disingenuous and unpatriotic.

The group flayed Emefiele for completely failing to concentrate on his core mandate of price stability as the apex bank’s governor, pointing out that with inflation at about 19 percent and the exchange rate nearing N800 to a dollar, the CBN Governor should be held responsible for deepening poverty in the country as he continues to work at cross-purposes at President Muhammadu Buhari’s objective of reducing poverty and growing the economy.

The statement reads: “We are all witness to the fact that from August 2020 to July 2022, the official exchange rate has moved from N381 to N415/$, representing only a nine percent increase. However, the parallel market has moved from N470 to N710 within the same period representing a 51 percent increase and a record 71 percent arbitrage with the official exchange rate creating a huge incentive for round-tripping, price gouging, sharp market practices, and inflation.

“The NYCN is therefore shocked by the comment of the Governor associating the free-fall of the parallel market rates to NNPC, even though it is purely a monetary policy issue and outside the purview of the NNPC.

“As a youth group, we have noted that the inability of the CBN to promptly release Joint Venture (JV) cash call funding from the Treasury Single Account (TSA) even when the Nigeria National Petroleum Company (NNPC) Ltd had adequate cash cover, leading to the loss of JV Partners’ confidence to restore production and reap the benefits of today’s improved oil prices.

“We are in the know that for over three months now, dollar-denominated cash call payments amounting to over $400 million, properly processed, are yet to be paid by the CBN under Mr. Emefiele.

“The combined impact of CBN’s inability to promptly release JV cash call to restore production, the increasing losses due to crude oil theft, and production deferments has culminated in significant crude oil output losses of over 600, 000 barrels per day.

“We find it curious that the apex governor seems to be unaware of the insecurity and huge oil theft in the Niger Delta which have continued to challenge the country’s oil production and the oil industry and gas industry in general. At present, there are massive losses and declaration of force majeure across the country’s major onshore production export facilities of Bonny, Brass, and Forcados.

“At the current year-to-date average crude oil price of $107 per barrel, Nigeria is counting opportunity losses translating to over $64 million per day, and a monumental impact of about $2 billion per month.

“We are taken aback that Mr. Governor is feigning ignorance that the country’s rising petrol subsidy cost, as well as the rising cost of external debt servicing, are all obligations affecting the economy. These affect the NNPC’s remittances to the Federation Account.

“From January to June 2022, the cost of PMS subsidy has reached N2.2 trillion and it is estimated that the full-year subsidy bill may hit N5 trillion and N6 trillion in 2023.

“Apart from government decision to defer the implementation of PMS deregulation, the subsidy profile is significantly influenced by CBN foreign exchange management.

“From January to June 2022, the cost of PMS subsidy has reached N2.2 trillion and it is estimated that the full-year subsidy bill may hit N5 trillion and N6 trillion in 2023.

“Apart from government decision to defer the implementation of PMS deregulation, the subsidy profile is significantly influenced by CBN foreign exchange management.

“It is however worth noting that the NNPC has recorded significant gains on production ramp-up including attaining ‘first oil’ production from the Anyala – Madu Fields and most recently Ikike fields which cumulatively boost national oil production by almost 80, 000 barrels per day.

“Furthermore, NNPC’s efforts towards attaining additional combined production of over 100, 000 barrels from fields like Obodo, Utapate etc has never abated despite the global setback recorded as a result of the effects of COVID-19 pandemic.

“History shows that Mr. Emefiele is at sea on addressing monetary policy issues. We recall that in 2021, the CBN governor blamed Aboki FX for the depreciation of the Naira. He would later blame members of the Association Bureau De Change, which led to the stoppage of dollar sales to the group. At another time, he blamed the Naira’s depreciation on activities of money laundering, terrorism financing as well as politicians.

“Furthermore, Nigerians are bearing the brunt of the inaction of the CBN Governor as the Emirates Airlines, the flag carrier of the United Arab Emirates (UAE), has reduced its flight operations to Nigeria over the inability of the CBN to repatriate about $85 million in revenue.

“Was the failure to repatriate Emirates funds also caused by the NNPC?

“The International Air Transport Association (IATA) had said Nigeria was withholding revenue worth about $450 million earned by foreign airlines operating in the country. Emirates said the planned reductions in its operations in Nigeria would take effect from August 15, 2022.

“And in a manner that fits his erratic policy, he has at present shifted all blames to the NNPC. This is clearly a case of a bad workman who blames every other person for his inability to deliver. To us at the NYCN, Emefiele is tired and should be sacked by President Buhari.

“From all indications since his failed presidential bid as well as his rejection by the All Progressives Congress, a partisan Emefiele has been doing all to rubbish the achievements of President Muhammadu Buhari and this should no longer be permitted.

“As Nigerians concerned about the future of this country and before Mr. President heeds our clarion call to send Mr. Eemefiele packing from the CBN, we advise that the CBN considers among other options the World Bank’s recommendation of adopting a single market-responsive sustainable exchange rate, improving access to forex through well-defined periodic forex auctions, and signaling a renewed commitment to price stability as a primary goal of the apex bank.

“The NYCN further expresses the optimism that the NNPC’s transitioning into a limited liability entity in line with the provisions of the Petroleum Industry Act (PIA), and its regulation now in line with the provisions of the Companies and Allied Matters Act (CAMA) would help resolve cash call payments delays as the company is now exempted from TSA, among others.

“We also hope that the NNPC Ltd would compete favourably with its peers globally and this in turn would translate to more foreign exchange for the country as well as improved national energy security,” the group noted.

The Central Bank of Kenya (CBK), on Friday, instructed commercial banks in the country to stop dealing with Nigerian fintechs, Flutterwave Payment Technology and Chipper Technologies.

The CBK which gave the instruction in a circular signed by Matu Mugo, deputy director, bank supervision, accused the fintechs of operating in the country illegally.

This comes amid controversies around the operation of Flutterwave and Chipper in the East African country.


The CBK had last month froze the accounts of Futterwave over alleged money laundering, which the firm denied.

Specifically, the CBK accused both entities of engaging in Money Remittance and Payment Services without licensing and authorisation.

The circular reads, “It has come to the attention of the Central Bank of Kenya (CBK) that Flutterwave Payments Technology Limited (Flutterwave) and Chipper Technologies Kenya Limited (Chipper) have been engaging in Money Remittance and Payment Services without licensing and authorisation by CBK. Money Remittance Services in Kenya are regulated pursuant to the Central Bank of Kenya Act and the Money Remittance Regulations, 2013. Further, Payment Services in Kenya are regulated pursuant to the National Payment System Act and the National Payment System Regulations, 2014.

“You are therefore directed to immediately cease and desist from dealing with Flutterwave and Chipper.

“You are thereafter required, within seven (7) days of the date of the letter to confirm to CBK your compliance with the directive.”

The Nigerian senate panel on public accounts has ordered the arrest of Dr Bashir Jamoh, the Director-General of the Nigerian Maritime and Safety Agency (NIMASA), for allegedly paying $5 million to a legal firm as a professional fee for the recovery of a $9.3bn loss.

The $5m was paid for the intelligence-based tracking of a global movement of Nigerian hydrocarbon and recovery of loss by the Federal Government of Nigeria in the sum of $9.3bn between 2013 and 2014.

The Chairman of the Committee, Senator Matthew Urhogbide, at a briefing on Sunday, berated the agency over the failure of NIMASA to appear before the panel, saying that the panel had no other option than to issue a warrant of arrest on the DG of NIMASA.

He said, “We have invited NIMASA up to three times, but they have failed to honour our invitations. This committee has no other option than to issue a warrant of arrest against the Director General of the agency. They can come to the National Assembly for fund appropriation, but when it is time to give account they will be nowhere to be found.

“The committee had invited NIMASA up to three times for the explanation on the payment of $5 million as professional fee and details of $9.3bn loss by the Federal government, but the agency declined the invitation.”

The Auditor General’s report showed that all efforts by the Auditor General of the Federation to get the details of the $9.3bn loss by the Federal government for thorough scrutiny were not granted by NIMASA.

According to AuGF report, the money was paid from Zenith Bank (UK)’s dollar account.

The query read, “Audit observed that the agency engaged the service of a legal firm through a letter with reference number NIMASA/DG/KP/2014/001, dated 24th January 2014 for the intelligence-based tracking of a global movement of Nigerian Hydro-Carbon and recovery of loss by the Federal Government of Nigeria in the sum of $9.3bn between 2013 and 2014, with a start-off cost of $5m and five per cent of all sums recovered.

“Payment instruction with reference number NIMASA/2007/DFS/WJ/5.500/VOL.11/341 dated April 2014 showed that the firm was paid the sum of $4,523,809.52 (Four million five hundred and twenty-three thousand eight hundred and nine dollars fifty-two cents only) net as professional fees from Zenith Bank (UK) Dollar account.

“The naira equivalent of this amount was N741,904,761.28 at an exchange rate of N164 to a dollar as of that date.

“No evidence of recovery of either part or the entire sum of the 9.3 Billion US Dollars was presented at the time of the periodic check-in in February 2018, despite the huge amount of money already paid to this effect.

“It is instructive to note that details of the transaction leading to the loss of $9.3bn to the Federal Government which only came to audit attention through the review of the letter from the agency to the legal firm so as to ascertain what could have transpired, resulting in such a huge loss were not presented for audit.”

“Ordinarily, the firm should have deducted its fees from the amounts recovered for the FGN, and not receive fees in advance in lieu of the recoveries.

It added, “Audit is concerned that payments were made for service not rendered and this may be a deliberate attempt to divert government funds for personal use.

“The Director-General is required to justify the payment for service not rendered, failing which the sum of N741,904,761.28 should be recovered from the legal firm and paid into the CRF, forwarding evidence of payment to the Public Account Committees of the National Assembly and to the Office of Auditor-General for the Federation for verification. Sanctions stated in FR 3104 should apply. He is also required to provide details of the transaction(s) leading to the loss of 9.3 Billion US Dollars for thorough scrutiny.”

The families of Akin Craig and Senbanjo have announced the passing on to glory of their dear wife, mother, sister, aunt, mother-in-law, grandmother, and great grandmother, Mrs. Olubunmi Ibiyemi Craig (Nee Osisanya).

She gave up the ghost on Wednesday, July 13 at the ripe age of 85. According to the family, the burial arrangements would be announced in due course.

Mama, an educationist, was the proprietress of Labo Memorial Primary School and Somerset Secondary School. A pillar of the community, she was a philanthropist, involved in numerous projects for her community as well as an active member of the Cathedral Church of Christ, Marina, Lagos.

She is survived by her children and their spouses, APC chieftain Omo’Oba Segun Senbanjo and Yetunde Senbanjo, Bola Senbanjo and Funmi Senbanjo, Nike Animashaun, Akinwande Craig and Bisola Craig.

Her grandchildren: Opeoluwa Senbanjo and Anuoluwapo Senbanjo, Ajibola Ojikutu and Ajoke Ojikutu, Makanjuola Senbanjo, Samad Animashaun, Nasr Animashaun, Tamilore Senbanjo, Tumininu Senbanjo, Kanyinsola Craig, Tomisola Craig, Feyisayo Senbanjo and her great grandchildren: Ireoluwa Senbanjo Arenike Ojikutu, and Araoluwa Senbanjo.

Money laundering claims in Kenya false, says Flutterwave


A Kenyan High Court has reportedly frozen the accounts of Futterwave, a Nigerian fintech, among over alleged money laundering.

Kenyan Court Freezes Accounts of Flutterwave, Others for Alleged Money Laundering

A total of 56 bank accounts holding a whopping Sh7 billion suspected to have been laundered by foreign nationals were frozen by the court.

The orders were issued after the Asset Recovery Agency (ARA) told the court that the accounts for seven targeted companies were used as conduits for money laundering in the guise of providing merchant services, The Star, a Kenyan based newspaper reported.

According to the report, the accounts that have been frozen are in USD, British Pound Sterling, EURO and Kenya shillings.

The companies listed are Flutterwave payment technology limited, Boxtrip travel and tours limited, Bagtrip travel limited, Elivalat fintech limited, Adguru technology limited, Hupesi solutions, Cruz ride auto limited and one Simon Ngige.

According to the court documents, Flutterwave was registered on February 23, 2017.

Its directors are listed as Olugbenga Agboola, David Mouko (Kenyan) and Flutterwave Inc.

The company operated 29 bank accounts with Guaranty Trust Bank, 17 with Equity Bank and 6 with Ecobank.

The Agency says the company’s account received billions of shillings and the same was deposited in different bank accounts in an attempt to conceal the nature, source or movement of the funds.

“Investigations established that the bank accounts operations had suspicious activities where funds could be received from specific foreign entities which raised suspicion. The funds were then transferred to related accounts as opposed to settlement to merchants,” the agency said.

In an affidavit, Isaac Nakitare, an investigator with the agency says they obtained orders on April 4 this year to search and inspect the accounts.

Nakitare says by the time he obtained the orders, the accounts at Guaranty Trust bank belonging to Flutterwave had a balance of Sh5.3 billion, Sh1.4 billion at Equity bank and other millions at Ecobank.

Some of the funds he said were transferred into fixed deposit accounts.

The agency, according to the report, ffurther established that Flutterwave was concealing the nature of its business by allegedly providing a payment service platform without authorization from the central bank of Kenya as required by section 12 of the national payment system act.

The accounts he said were used as conduits for money laundering in the guise of providing merchant services.

“If indeed the Flutterwave was providing merchant services, there was no evidence of retail transactions from customers paying for goods and services. Further, there is no evidence of settlements to the alleged merchants,” he said.

The company’s Equity account number revealed that at some point in May 2021, it received 185 online card payments all sharing the same bank identification number.

The transactions were done using cards issued by the same bank at the same point on the same day raising suspicion of card fraud.

For instance, ARA says the Flutterwave equity USD Bank account was opened in November 2020.

The funds received were mainly from Flutterwave Inc.

Between 2020 and 2022, the account received approximately Sh12 billion and the funds were either transferred to Remix ltd while the rest were invested in a fixed deposit account.

Justice Maina further issued orders stopping Boxtrip travels and tours limited from transferring or withdrawing 3.9 million dollars (Sh460 million) held in his Eco bank account

The Director of Boxtrip travels and tours the director is listed as Enyioma Olufemi a Nigerian national.

“It received the money from Flutterwave ltd in two days. That is 27 to 28 April this year.”

“No explanation nor supporting documents were provided to justify the transactions therefore reasonable grounds to believe that the accounts were used as conduits for money laundering,” said ARA.

For Bagtrip travels, the court froze its account holding Sh425 million shillings.

The director of the company is listed as Taiwo Soyemi, a Nigerian National.

It received the monies from Flutterwave ltd and rainbow solution technology on 28 April and 6 May 2022.

A further Sh1.2 million belonging to Elivalat Fintech Limited was frozen.

Some of the monies were transferred to Tiware Adrian Simon who is one of the directors at Elivalat ltd and to Muoko David who is one of the directors of Flutterwave ltd.

For Aduru technology limited, the court froze Sh100 million held in its Equity account.

The directors of the company are listed as Adaeze Okonkwo, and Caroline Muchina, wife to David Muoko who is a director of Flutterwave.

For Hupesi solutions, the court preserved the Sh1.6 million held in its Equity account.

Th proprietor of the company is listed as Festus Mutuku.

The documents indicate that the company’s equity account received a total of Sh143m of which 54 million was transferred to Flutterwave payments, 45 million transferred to GC Natural PL and internal transfers of Sh26 million.

The transactions were done in tranches of below Sh1 million to avoid reporting threshold.

But by the time the agency obtained orders to freeze, only 1.6 million was left in the account.

The court preserved another Sh2.4 million held in the account of Crus ride, a motor vehicle dealer.

The company is said to have received the monies from Flutterwave on June 6. The funds were later transferred to Simon Ngige.

“The account had been dormant and had not received any funds from September 2021 to May 2022. However, in June 2022, the account received 269,000 US dollars (31.7 million shillings),” said ARA.

The documents indicate that Ngige received 452000 US dollars (Sh53.3 million) in his KCB account from Flutterwave, Cavin solutions and Cruz ride auto.

On 24 June, Ngige transferred 200,000 US dollars (SHS 23.6 million) to his KCB account. The court stopped him from transferring Sh14 million left in his account

“An analysis of the statements of accounts established that the accounts received suspicious deposits that indicate smurfing activities hoping to evade detection,” said ARA.

The orders granted by the court will be in force for a period of 90 days.

The case will be mentioned on November 7, the report said.

Meanwhile, the fintech company, Flutterwave Payment Technology Limited, has denied claims that it was involved in a $59 million money laundering scheme in Kenya which led to the closure of bank accounts operated by the company.

In a statement, Flutterwave denied all claims and stated that the company was a target of false media reports and misrepresentations.

The statement also briefly outlined the company’s payment system and how it earned its fees across the continent.

The statement read in part, “Claims of financial improprieties involving the company in Kenya are entirely false and are being circulated as part of a disinformation campaign. Flutterwave has been a target of deliberate false media reports and misrepresentations.

“Through our financial institution partners, we collect and pay on behalf of merchants and corporate entities. In the process, we earn our fees through a transaction charge, records of which are available and can be verified. As a business, we hold corporate funds to support our operations and provide services to all our customers.

“By facilitating payments for the biggest organizations in the world and everyday businesses, we process significantly large volumes of money and contribute to growing the economy in Kenya, and the rest of Africa.”

The company also stated its role as a payment merchant in Kenya, noting that its Anti-Money Laundering practices were always audited by an unnamed reputable firm and it complied with regulatory bodies.

“We are a financial technology company that maintains the highest regulatory standards in our operations. Our Anti-money laundering practices and operations are regularly audited by one of the big four firms. We remain proactive in our engagements with regulatory bodies to continue to stay compliant.

“Flutterwave has a responsibility to ensure the integrity of the ecosystem, and we pledge our commitment to continue to work with all stakeholders to uphold this. We are working to figure out the motive behind the publication, and have the records straightened,” the statement concluded.

Recently, Flutterwave was embroiled in controversy after former employees revealed some alleged corrupt practices in the company which involved some of its board and management.

Others implicated in the case in Kenya are Boxtrip Travel and Tours Limited, Bagtrip Travel Limited, Elivalat Fintech Limited, Adguru Technology Limited, Hupesi Solutions, Cruz Ride Auto Limited, and one Simon Ngige.

The leadership of Maritime Workers Union of Nigeria (MWUN) has expressed worries over the disparity in salary and allowances between foreign personnel and Nigerian employees doing the same job at APM. Terminals Apapa.

This was contained in a statement on Tuesday and signed by the President General and Secretary General, Comrade Adewale Adeyanju and Comrade Felix Akingboye respectively .

The union expressed disappointment at the concessionaire penchant for disregarding Nigerian workers noting that APMT has no iota of regard for the welfare of its employees.

The statement affirmed that The Maritime Workers Union of Nigeria should not be held liable in the event of distortion of industrial peace in the APMT Terminal.

This, the union underscored was based on the low salaries and allowance being offered as negotiation which its stated was far below the industry standard.

The statement recalled that a 7- day ultimatum was issued which has since expired adding that a total of four meetings was held and attempt to resolve the lingering issues raised at negotiation prove abortive.

“The leadership of Maritime Workers Union of Nigeria on Wednesday June 22nd 2022 met with the management of APMT Nigeria to discuss the review of the Condition of service (Collective Bargaining) for our members for this fiscal year 2022.

“Unfortunately, we are forced to bring to the notice of the general public that after series of meetings this last one being the 4th, the meeting like the several others ended in a stalemate.

“This is as a result of the refusal of the management of APMT to concede to workers demand for appropriate and industry compliant increase in their salaries across board. On this note a seven day ultimatum was issued which has since expired.

Maritime Workers Union of Nigeria also affirmed that APMT Nigeria has overwhelmingly exceeded its projected profits and return on investment pointing out that members have been a critical factor to this achievement.

MWUN reiterated that “We are therefore appalled that APMT employees (our members) who toil day and night to achieve this height are denied enjoyment of their hard work.”

“The union has long noted that APMT has no iota of regard for the welfare of its employees — Nigeria Workers. This is underscored from the ridiculously low salaries and allowance being offered as negotiation which is far below the industry standard.

“Maritime Workers Union of Nigeria also brings to the notice of the general public, APMT Nigeria management’s penchant to hire foreign personnel in disregard of hiring Nigerians who are eminently qualified to hold and man the responsibilities of these positions.

“Also of note is the disparity in the salary and allowances between foreign personnel and Nigerian employees doing the same job in our nation.

”As a Union we are aggrieved at the shabby treatment meted out to our members, and we can no longer tolerate this,” Adeyanju said.