₦airaland Forum

A former Governor of Delta State, Dr. Emmanuel Uduaghan, has reconciled with renowned economist, Prof. Pat Utomi.
Uduaghan and Utomi have been at loggerheads over comments by the renowned economist that all past governments in Delta State have failed the people.
Uduaghan, a member of the Peoples Democratic Party, responded by describing Utomi, who is seeking to become the governor of Delta State on the platform of the All Progressives Congress, as a failed businessman and economist.
However in the early hours of Saturday, both men were reconciled by the Bishop of Sokoto Diocese, Bishop Matthew Hassan Kukah.
The reconciliation, it was learnt, took place at the Kukah Centre in Abuja.

The Bayelsa State governor, Mr. Seriake Dickson, on Friday declared that the Ijaw people of the Niger Delta are the most oppressed ethnic group in the whole country.

Speaking when the leadership of the Ijaw Youth Council, IYC, Worldwide paid him a visit in his office in Yenagoa, he urged them to continue to put the legitimate issues of economic marginalisation and environmental pollution affecting the region in the spotlight.

Dickson charged the apex Ijaw youth body led by Roland Owelaemi to collaborate with the government in addressing the age-long problems of under-development of the Ijaw nation by successive administrations at the federal level.

According to him, “the Ijaw nation is oppressed in Nigeria, and those of us in positions should fight and protect the Ijaw interest. The weapons and strategy for the struggle must change.

“For 60 years, there is no road to Bonny and Brass, where crude oil is lifted daily. No airport in the Ijaw nation, no oil company operating in the state pays taxes to contribute to the economy.

“The IYC must continue to raise the legitimate issues without fear of intimidation. I expect you to mobilise and raise the consciousness of the people about the precarious situation we are in.”

The governor expressed dismay over the state of the region despite its huge contributions to the economic growth of the country, and called on political leaders and those in positions of trust to protect the collective interest of the Ijaw nation.

He pointed out that 20 years after the creation of Bayelsa State there were no boarding schools and functional hospitals, until his administration came and changed the narrative.

Dickson however warned that the struggle to emancipate the Ijaw nation was no longer about carrying weapons, “but through intellectual and persuasive means”.

He also advised Ijaw youths to shun all forms of vices, including cultism and drug abuse.

Speaking earlier, Oweilaemi urged the Federal government to allow the people of the region to establish and manage the proposed modular refineries in the region, adding that it is one way the people of the region would be compensated for all the degradation they had been subjected to.

He reiterated the 90-day ultimatum given to all oil companies operating in the Niger Delta to relocate their corporate headquarters to the region, in line with the directive of the federal government.

Fashion lovers all over the world can once again look forward to an unparalleled fashion experience as the 2nd edition of the GTBank Fashion weekend is set to hold on the 11th and 12thof November, 2017.

The 2-day event will treat attendees to an enthralling journey across a wide variety of Africa’s finest styles and trends whilst offering small businesses in the Nigerian Fashion Industry a free and vibrant platform to connect with a wider segment of their consumers as well as experts in their industry.

The GTBank Fashion weekend is a free business platform that was created by foremost African Financial Institution, Guaranty Trust Bank plc, as part of its efforts to showcase the best of Africa’s Fashion to a global audience whilst promoting the effervescent enterprise of the continent’s growing fashion industry.

The 2016 debut of the consumer-focused event received very positive reviews nationally and internationally. Attracting over 30,000 guests over the 2-day period, the event featured a series of master classes, runway shows and a curated retail exhibition – creating the biggest, most thrilling exposé of African fashion to take place on the continent till date. The retail exhibition gave the over 90 Small Businesses that participated the opportunity to exhibit, sell and connect with consumers, as well as discover new markets.

This year’s Fashion Master Classes will feature global fashion experts such as reality TV personality and runway coach J Alexander, best known for his work on America’s Next Top Model, to renowned fashion entrepreneur and celebrity stylist, June Ambrose to award winning fashion designer, Giles Deacon.

Other fashion and global media experts scheduled to host master classes at this year’s GTBank Fashion weekend include; Editor in-Chief of Essence Magazine, Vanessa De Luca; Kenyan-born Vanessa Kingori, publisher of British GQ Magazine – the famed gentleman’s fashion and style magazine; multi talented Nigerian photographer TY Bello; professional Makeup Artist and Educator, Danessa Myricks; and Fashion Editor & Style Consultant, Shiona Turini.

Fashion enthusiasts will also be treated to the ultimate shopping experience as dozens of Small Businesses will showcase a diverse range of carefully curated affordable and luxury apparel, footwear, accessories, beauty items, and much more. As part of the retail experience there will be a crafts market featuring indigenous fabric and accessories. Each day of the event will close with a series of epic Runway shows featuring Africa’s finest designers and renowned international designers.

Commenting on the 2017 GTBank Fashion Weekend, Mr Segun Agbaje, the Managing Director of Guaranty Trust Bank explains the vision behind the event as an “initiative that is unlocking growth opportunities for small businesses and putting African fashion on a global pedestal. The 2017 GTBank Fashion Weekend will not only give visibility to the amazing talents and entrepreneurial drive of our people at home, it will also connect them with fashion leaders abroad, in order to build local capacity and expertise across the entire Fashion Value Chain.”

GTBank has consistently played a leading role in Africa’s banking industry. The GTBank brand is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world class corporate governance standards, excellent service quality and innovation. The Bank is also going beyond the traditional understanding of Corporate Social Responsibility as corporate philanthropy by intervening in key economic sectors through non-profit consumer focused fairs and capacity building initiatives for small businesses operating in these sectors.

The National Working Committee, NWC, of the All Progressives Congress, APC, has been divided by moves by powerful forces to upturn the victory of Dr. Tony Nwoye, at the governorship primaries.
Nwoye, a member of the House of Representatives won the August 26 primary with 2,145 votes to beat Senator Andy Uba who got 931 votes.
Governor Kashim Shettima led primary committee conducted the election.
But Uba, who initially hailed the outcome of the election, petitioned the national leadership of the party, alleging that the result was doctored.
Recall that the primary election appeal panel report was submitted to the party’s National Secretariat on Tuesday
Speaking, an official of the party in Abuja that some members have been induced with “at least N200m to cancel the result of the freest and fairest primary ever conducted in the history of the party”.
The source confided in our correspondent that “even the party leadership is aware of the fact that a huge sum of money has been distributed”.
“Whoever wants to counter what I am saying should come out. Right before the election, over 10 wealthy businessmen stormed Anambra for their candidate who now wants to be declared winner.
“Raw cash was flying everywhere, they boasted the primary is already sealed. Their comments leaked. Now they want to get a ticket they didn’t win even where the man was thoroughly and convincingly repeated.
“When will Nigeria get it right if we allow impunity and illegality to go on? This man is playing God because he is connected, but people forget that power belongs to the Almighty, he gives whoever he pleases. Nobody gave Nwoye any chance, but he won
“On the day of that election, there were about 6 checking spots. So if you passed one, you will meet another. They said 2000 aliens were brought in as delegates but the question is, how do you even convey fake delegates without being detected.
“All those who voted were identified by their ward chairmen. Once you are identified, you then receive tag. Don’t forget that all these were under the watchful eyes of INEC officials, security agencies and agents of all the contestants.
“The man shouting now used his mouth to praise the conduct of the primary, it was aired live on NTA. Money is not everything, he lost and he should accept as his fate. We need to start preparing to win the election; they should save us these distractions”.
Another top party member, accused a former top Peoples Democratic Party chieftain, PDP, who is a senior APC national officer, as the arrowhead of the bribe shared to annul the election.
He lamented that it was unfortunate that the “very corrupt” ex-PDP member, who was part of the team that conducted the election in Awka and witnessed all that transpired sold out for money.
The source said that those seeking the annulment of Nwoye’s victory had tried in vain to compromise Governor Shettima, to do their bidding and impose Uba on the party as its candidate but the governor declined and opted for the conduct of a free and fair election to enable the emergence of the best candidate for the party.
“The Chairman of the election panel politely told those who approached him that he could not be bought with any price and would therefore conduct a free election by providing a level-playing field for all the candidates to test their popularity.
“In fact, when we arrived Awka for the primaries all of us had expected that Andy Uba was going to sweep the polls because of his position as a former governor and a sitting senator but when the results came out, he lost by a wide margin to Nwoye and we could not change the decision of the electorate for whatever reason”.
The source dismissed insinuations that the appeal panel was being pressed by the Presidency and security agencies to replace Nwoye with Uba, arguing that neither President Buhari nor the Director General of the DSS, had any hand in what he described as the unholy bid to replace the winner.
“I can tell you that what is happening is that some powerful politicians in the PDP and the Senate, who are more comfortable with Uba want him to contest against Governor Obiano with the hope that once he wins, he would return to the PDP, from where he crossed over to the APC early this year”.
Meanwhile, Nwoye has spoken on moves to upturn his victory.
He hailed the conduct of primary that produced him as candidate and urged the party to toe the part of honour, fairness, truth and justice by affirming him as the APC flagbearer for the November 28 election.

GOtv is slashing the price of its decoder from N7700 to N5900 in a latest offer tagged GO Gaga Confam. The new price which kicked off on Monday, 11 September, will also see customers enjoy one month of GOtv Plus free subscription along with the new price.

Speaking on the price slash, John Ugbe, Managing Director, MultiChoice, said the price slash is part of the company’s mission to make quality digital television more affordable in readiness for the digital migration while enriching lives of its customers through unbeatable entertainment.

“Our mission is to provide the best entertainment at an affordable price. We understand that times are tough but that doesn’t mean that our customers have to miss out on world-class entertainment”, he said.

The GO Gaga Confam price slash comes complete with the GOtv decoder, outdoor antenna (GOtenna) and one month GOtv Plus free subscription. At the expiration of one month, subscribers can choose either the GOtv Plus bouquet for a monthly subscription of N1,900 which gives up to 57 top quality local and international channels, GOtv Value for N1,300 monthly with 40 channels or GOtv Lite at N400 monthly with over 20 channels and three payment options.

Meanwhile, the company recently upgraded its website, gotvafrica.com, to make it easier and more convenient for customers to navigate. It has also been simplified to work on mobile devices and computers. The website enables subscribers to avoid the long queues at physical offices through GOtv Eazy Self- Service which enables them to quickly fix errors. It also enables them to easily locate a dealer near them, find answers to frequently asked questions, learn more about the decoder, what packages are on offer and so much more.

For more information about the exciting content lined up on our platform, please log on to www.gotvafrica.com and follow us on Facebook and Twitter; GOtv Nigeria and @GOtvNg respectively.

As both clashes on Thursday


The legendary rivalry between Nigeria and Ghana will once again come into focus this Thursday when the home based Super Eagles take on their home grown counterpart, Black Stars of Ghana at the group stage of the ongoing WAFU Cup of Nation in Cape Coast.

Speaking in Takoradi on Tuesday morning after Monday night victory against Sierra Lone, Head Coach of Super Eagles, Salisu Yusuf, assured that his boys will throw everything into clash taking place at the same Cape Coast Stadium where they defeated Sierra Leone by 2 goals to nothing.

Goals by wing back Osas Okoro and forward Peter Eneji earned the Super Eagles a win in the knock –out encounter against the Leone Stars, and Yusuf said his charges would prepare even harder for the group phase battle with the Black Stars.

“When you talk about a football match between Nigeria and Ghana, it is at a different level. Whether it is a Cup final or a friendly match, both teams give their very best. That is what we are going to do on Thursday, and I am sure the Ghanaians will come to the party with the same mind.

“The victory over Sierra Leone was good for the team. Psychologically, we are now attuned to going all out in every game as we aim to go all the way.”

It is 66 years now that Nigeria and Ghana first clashed in a football match at national team level, with the Nigerians running away 5-0 winners over then Gold Coast in a Jalco Cup match in Lagos on 20th October 1951.

Incidentally, the WAFU Cup fixtures have lined up opposition for Nigeria as it was in the beginning. The first –ever match by a team assembled as Nigeria national team was against a Sierra Leonean national team, and it ended 2-0 in favour of Nigeria in Freetown on 8th October 1949. The clash with Ghana in October 1951 was Nigeria’s second –ever international.

In the early days of the rivalry, Nigeria won more matches in the Jalco Cup, but Ghana had the upper hand in the Nkrumah Cup and Zik Cup encounters that followed, both trophies named after major pan-African figures Osagyefo Kwame Nkrumah and Dr. Nnamdi Azikiwe.

A 40-year-old man identified as Stephen Ogho-Oghene Akpata, has been arrested by the Police in Bayelsa for allegedly stabbing his wife to death over alleged infidelity.
The 33-year-old deceased, identified as Onyinye Faustina Eze was reportedly a staff of Globacom Nigeria Limited.
According to an eye witness, Osaro Akindele Okhomina, the suspect confessed that he murdered his wife, after they both had sex at their residence along the Kpansia area of Yenagoa, the State capital.
The suspect reportedly disclosed that he became angered after he saw a text message on her phone indicating she was having an extramarital affair.
He then confronted her and argument ensued, then he stabbed her on the neck and on the shoulder leading to her death.
He also confessed to have served in various detention centers in Australia.
The 40-year-old suspected murderer shared photos from their court wedding on social media on 8th of August.
Police Commissioner in the State said Mr. Akpata murdered his wife by strangling her with the cable of an electric iron. He then also stabbed her with a knife.
The police chief said the incident became known when one of Onyinye’s colleagues, Moses Awo, reported at Ekeki Police Division in Yenagoa that Onyinye did not report for work as expected.
According to him, Mr. Awo had reportedly told the police that when he and another colleague went to Onyinye’s residence in Kpansia area of Yenagoa, they discovered that the apartment was locked. They also found that the television set in her room was working.
Some police officers from Ekeki Police Division in Yenagoa went to the deceased’s apartment and forced her door open. They found Onyinye dead in a pool of her blood.
According to Bayelsa Police Commissioner, Mr. Akpata was the prime suspect in the murder.
He was arrested by police in Badagry, Lagos State, after about two weeks on his trail.
Parading the suspect on Thursday at the state command’s headquarters, Mr. Amba said that his operatives discovered that the deceased room was scattered.
Mr. Amba said the exhibits recovered at the scene of crime were a knicker; a pair of canvas shoes, one damaged electric iron, one jean jacket, one pen knife, one pink singlet, a Nokia mobile phone and a damaged wristwatch.
He said the exhibits were stained with blood.
The police chief said the body of the victim was removed and deposited at the morgue of the Federal Medical Centre, Yenagoa, for autopsy.
Narrating how the suspect was arrested, Mr. Amba said that discreet investigations revealed that the suspect absconded to Ghana after allegedly committing the murder in Yenagoa.
The commissioner, who said the suspect returned to Badagry, Lagos a few days after, added that Mr. Akpata was tracked and arrested in Badagry on September 1 and brought to Bayelsa the same day.
“When our operatives went into the apartment of the deceased, we meticulously searched the environment and we saw a three-quarter knicker that was well hidden, tucked somewhere in the room that one would not suspect that something was hidden there.
“We discovered there was a blood stain on the knicker. By this time, we tried to find out who was with the lady because we knew that they had just contracted a registry marriage.
“We got in touch with Akpata who is the purported husband. He gave us the impression that he was out of town, implying that he travelled out of town before the incident.
“So, we were still communicating with him, at least to break the news to him that his purported wife was dead. He told us he was on his way back and this took us some days.
“As we were communicating with him, he was just giving us the impression that he was coming back, not knowing that he was plotting his own escape.
“We found out that prior to that time of her murder, the suspect had spent so much money on the lady and they were moving from one hotel to another.
“Still, we were playing along with him to enable him to come to us. But since he said he was in Lagos, we suspected that Ghana or Republic of Benin would be a likely point of escape.
“We got in touch with the embassies there and the Ghanaian Embassy was on the alert. From our radar, we found out that he slept in Ghana.
“He escaped back to Badagry in Lagos. He did not know we were still following him up. We got in touch with the police in Badagry. Eventually he was arrested at the Badagry border. So, we brought him back,” Mr. Amba said.
Mr. Amba added that the police command got vital information on him, particularly on his Facebook page where they saw many pictures of him with his murdered wife during their court marriage.
He assured that the suspect would be charged to court while the case would be diligently prosecuted as soon as investigations were concluded.

Nigeria’s premier financial institution, First Bank of Nigeria Limited led by Adesola Adeduntan as Managing Director, with its contractor, Whyte Cleon, has sacked over 1,000 workers via text messages and phone calls.

An investigation revealed that the bank has been silently sacking staff across the country through short message service (SMS) popularly called text messages, and telephone calls.

The layoff, which started in August, is yet to abate as more and more staff keeps receiving text messages indicating they no longer work for the bank.

Recall, THEMOMENTNG recently broke the story of how the bank is embroiled in financial miss-management and internal crisis.

According to the report the confusion rocking the bank is connected to billionaire philanthropist and Chairman of Honeywell Group, Oba Otudeko, who is reportedly indebted to First bank to the tune of N75billion and tries to write it off by allegedly projecting his son, Obafemi, as the next Managing Director/Chief Executive Officer of the bank.

The alleged loan, which was acquired about 7 years ago with his status as the Chairman of the bank, has remained un-serviced till date, an insider claimed, stating that non-performing loan is currently putting the bank and its management in tension as the economic hardship facing the country bites harder on all financial institutions.

Industry experts are of the opinion that such action, which may have cost the bank its leading position as Zenith Bank Plc., emerged the biggest bank in Nigeria with First band coming second in the recent rating.

One of the staff affected by the purge, Ade Michael, 33, said he was engaged by In-Sourcing Limited, located on 18, Keffi Street, Off Awolowo Way, Ikoyi, Lagos. The company is a subsidiary of the First Bank Group, and it commenced operations in Nigeria in July 2008.

The company was established to provide support staff solutions, first to the bank, and subsequently to the group and then to other businesses.

Barely months after it was established, the Managing Director, Debo Onabowale started recruiting staff for the FBNL.

Michael was one of the pioneer staff to be recruited by the HR solutions firm for the premier commercial bank.

The appointment letter, which was personally signed by Onabowale and dated November 7, 2008, was accompanied by a condition of service, which specified rewards and punishment, including grounds and processes of disengagement.

Part of the letter, which reads: “In line with our procedure, you will serve a probationary period of six months during which period we shall have the opportunity of assessing your compatibility with our organisation.

“During probation, the contract of employment may be terminated by either party subject to a notice of two weeks or payment in lieu.

“Your employment, including your probation period will be governed by the terms and conditions of service, a copy of which will be provided to you.

“Any amendments or additions thereto from time to time will be advised to you in accordance with the company’s policies.”

With that, Michael was posted to the Business Development Manager, First Bank of Nigeria Limited, Osogbo Branch, 152 Station Road Osogbo, Osun State.

Another employee affected by the purge, who gave her name simply as Ngozi, said she was posted to FBNL in Umuahia, Abia State after In-Sourcing recruited her.

According to her, her appointment was confirmed in August 2010 after she met the compulsory probation requirement.

While Michael put nine years in the service of the bank, Ngozi served for eight years before they both got the boot on Friday, August 4, 2017.

Michael disclosed that he attended the branch’s performance evaluation meeting that Friday morning and after a fruitful day at work, went home for the weekend.

“I was just about going to see a friend when an SMS entered my phone and when I opened it, what I saw almost knocked me over,” he said.

“It was one of the most devastating text messages I have ever received. I could not think straight. My heart sank, my legs wobbled and momentarily, I lost the sense of time and place.”

The 36-word text message, which ended the careers of over 1,000 Nigerians in the FBN and added them to the ever-growing ranks of jobless persons in the country reads: “Dear colleagues, this message supersedes the earlier message sent by us.

“You are hereby withdrawn from the services of Whyte Cleon Ltd. Effective immediately, 7th August 2017. For further clarification, please contact the office. Thank you.”

While many got text messages and calls from their homes long after work hours, others reported for duty and found they can no longer sign into their systems.

They were humiliated and walked out of the bank premises by private security guards.

This newspaper found that majority of the affected staff put in between five and 10 years in the service of the FBNL before they were thrown out in a most brazen manner.

The most affected are those recruited as front tellers, account and clearing support officers, customer service officers and marketing associates.

A staff of the bank, who spoke in anonymity said all those affected by the purge were in their respective offices on August 4, and even attended the monthly performance meeting.

“We don’t know what is happening in First Bank. They are sacking people by the day. People are no longer sure of their jobs,” the source lamented.

“For instance, on August 4, when the first batch of hundreds was sacked across the country, all the affected staff attended the monthly performance evaluation meeting.

“Nobody told them their jobs were over. It was when they got home at about 6 pm that some of them started receiving text messages.”

Another employee, who gave his name simply as Ola said he attended the monthly performance meeting in Lagos on Friday, August 4 and did not receive any negative rating based on the bank’s performance indicators.

“We had our meeting as usual and we closed and I got home. It was later in the evening that I got the SMS that my appointment has been terminated,” Ola told this newspaper.

“I immediately called my branch manager and he said he was not aware of any job cut in the bank and promised to find out from the headquarters and get back to me.

“On Monday, he called and said that the SMS I received was true and that so many staff have been affected across the country. He could not explain what happened because nobody consulted him before the decision was taken.”

Ola corroborated the fact that some staff who were not sacked through what he described as the “evil SMS” were logged out of their workstations when they resumed work on Monday, August 7.

An investigation by this newspaper showed the FBN’s labour contractor, Whyte Cleon Limited, finally sent termination letters to staff affected in the August 4 layoff on August 28 but backdated it to August 7.

A top official of the bank said since the retrenchment started in the first week of August, no fewer than 100 staff are sacked every Friday across the country.

“The process, which started in August has continued until Tuesday, September 5, when some staff returned from Eid-el-Kabir celebrations to receive SMS sack notices just as they got to their offices,” the source said.

“The most intriguing thing is that new employees are being brought in to take over the jobs of the disengaged staff and we are afraid these new ones will also be shown the way out with time.

“This outsourcing of personnel is not good for the banking sector because they bring in people today, train them and allow them access to sensitive financial records and then sack them later.

“It is like hiring people, training them in weapon handling and issue them guns and later sack them and send them back to the society. They will use the skills they acquired to deal with the society.”

The CBN Factor

In December 2015, the Central Bank of Nigeria (CBN) had issued a circular to financial institutions in the country not to be involved in non-financial transactions, thereby invalidating the existence of In-Sourcing Limited.

Following the directive, the FBNL in February 2016, unilaterally transferred the staff recruited through its subsidiary to Whyte Cleon.

All the staff who were recruited by the bank’s HR subsidiary got letters indicating their transfer to the new HR firm.

The condition of service issued by In-sourcing Limited to the staff it hired for the FBNL, which was made available to this newspaper, laid out the procedure for termination and payment of entitlements.

Section 2.2.3 of the Condition Service, titled “Termination Procedure and Payment of Entitlements,” provides as follows, “Once approved, the decision to terminate employment is communicated to the employee both verbally and in writing.

“The Performance Management Department will then prepare a letter of termination detailing the terms of separation and entitlement.

“The outgoing employee is usually invited for an exit interview and provided the employee does not owe money to Insourcing Limited or has not been summarily dismissed, he or she may be given Certificate of Service.”

Apart from letters written by First Bank Nigeria Limited, transferring the staff it recruited through its affiliate company to Whyte Cleon Limited, this newspaper learnt it never told the affected staff the condition of service through which they were employed lapped.

The FBN’s Head, Media and External Communications, Babatunde Lasaki confirmed the sack but said it is in line with global best practice.

Every year, he said the FBN conducts an appraisal after which it promotes staff with exceptional performance while under performers are asked to leave the bank.

Lasaki could not, however, confirm how many staff have been affected in the on-going retrenchment exercise..

“It was nothing other than a standard HR practice which is in line with the global standard. After a baseline appraisal, over 3,000 were promoted and a few people were asked to leave,” he said in a telephone interview with this newspaper.

“We don’t have the actual figure but the number of people disengaged is far less than 10 percent of those who were promoted. Every organisation does that,” he said.

He argued that every role in the bank has its own scorecard and people in all the roles know what is expected of them.

To keep their jobs, Lasaki said staff must meet some key performance indicators attached to such office.

He said, “We have key performance indicators and a scorecard and everybody knows from the beginning of the year what is expected of them and what they should score to be promoted. They know what to score and get increment and what they should score and be warned.

“It is not a one off thing. When you are not doing well, you know because from the first quarter, second and third quarter appraisals, you know about it. At the end of the year, when you do not meet the threshold you should during the annual appraisal, you will know you cannot be retained in that role.

“It is a very transparent process and everybody gets their appraisal score at the end of every quarter. Moreover, when you get it, you have an opportunity to go behind and discuss with your supervisor on what you can do to improve and the supervisor will tell you to do X Y Z. At the end of the year, you will have to go if you have not done what is expected of you. That is what the bank has done,” he added.

Asked whether the termination followed the processes laid out in the staff condition of service, Lasaki said the bank’s human capital department was responsible for working out employees’ exit.

“Whether you are leaving on your own or asked to go, it is mandatory for you to go through that process and I know they do it from time to time,” he continued.

“Every head of department, every head of a unit and every supervisor knows when somebody is exiting their department, they must be put through those processes and they must go through the human capital department,” he said.

When we told him the majority of the staff affected by the purge were sent text messages, he responded, “I am not sure that is true. That is what they said but that is not standard practice. It is not the way we exit people in our organisation.

“Everybody who is leaving will be given his or her letter. I have a letter of one of those leaving. It is not possible to be asked to leave with a text message.

“I sympathise with people who are asked to leave because I know how traumatic it could be but people can be very emotional when they are asked to go and that is understandable. We follow the global practice and our bank is not only operating in Nigeria. We operate in seven countries across the continent and everything we do is in line with the global process,” he explained.

Staross Energy Limited and Wema Bank Plc have engaged each other on allegations and denial of dud cheques infraction involving about N5.2 billion transactions in crude oil sales. The allegation of Staross Energy Limited was contained in its petitions sent to the Senate, Director of Public Prosecutions (DPP) and the Central Bank of Nigeria (CBN). This was however denied by Management of Wema Bank Plc in a response sent to this newspaper by the Manager, Brand & Marketing Communication, Mr. Abiodun Aderibigbe.

The petition was initiated after presentation of two cheques issued to Staross Energy Limited by an alleged front of Wema Bank Plc- Lucky Ojenike of Lucky Best Nigeria Limited bounced at the banking hall. This was after both parties had earlier allegedly agreed that if the buyer and the bank or any person(s) or company circumvented the company, the N346 million commitment deposit would be forfeited as penalty to the company and in addition, the money equivalent to any loss suffered by the company (Starross Energy Ltd) in the event of any false pretence or circumvention would be paid to the company as provided for under Articles 8.5, 8.6 and 8.7 of the Sales and Purchase Agreement dated Oct. 28, 2014.

However, Mr. Aderibigbe stated that Wema Bank Plc. was a bank licensed by the Central Bank of Nigeria (CBN) to carry out the business of banking. According to him, “It is not and has never been involved in the business of buying and/or selling petroleum products. The Bank could not therefore have sought to obtain any petroleum cargo or property under any pretense (as alleged in the referenced report) for any purpose”.

Aderibigbe also explained that the business for the sale and purchase of petroleum products alluded to in the petition and in the subsequent report was between Starross Energy and Lucky Best Nigeria Limited/Lucky Ojenike. He said the bank did not at any time execute any agreement in relation to the business with Starross Energy, neither did the Bank ever represent to Starross Energy that it was in partnership with Lucky Best Nigeria Limited.” Starross Energy alleged claim for the loss suffered in its business (whether real or imagined) against the Bank is therefore misdirected and very strange, “ he stated.

He added that the dishonoured cheques issued to Starross Energy, as admitted by the company, belonged to and were issued by Mr. Lucky Ojenike. The cheques, according to him were not issued by the Bank, neither did the Bank inform Starross Energy at any time that Lucky Best Nigeria Limited/Lucky Ojenike accounts were sufficiently funded to satisfy the value of the cheque. In fact, Lucky Best Nigeria Limited does not maintain any account with the bank. The bank’s relationship with Mr. Lucky Ojenike is not beyond that of a normal banker-customer relationship.

In a detailed investigation which resulted in the arrest of three officials of Wema Bank Plc, the bank was accused of using unethical and overly aggressive cross-selling tactics- pressuring customers to purchase additional financial products or services that they didn’t need – to meet sales goals.

Outraged by the alleged fraudulent practice of some officials of Wema Bank in a N5.2 billion crude oil deals, Starross Energy Limited asked the Central Bank of Nigeria (CBN) to intervene and sanction the bank.

In a petition to the Apex Bank, the company also wants the CBN to compel the commercial bank to pay the outstanding money and sanction it for issuing dud cheques to the tune of N346 million.

Our correspondent obtained copies of the petition sent to the Director of Public Prosecutions of the Federation (DPP), Mr Muhammed Saidu Diri, and the Chairman, Senate Committee on Anti-Corruption and Financial Crimes, Sen. Utazi Chukwuka Godfrey, over the alleged fraud committed since October 2014.

The petitioners’ National Coordinator, Philip Odekeye, and Messers Wole Abdulkadir & Co., solicitors to Starross Energy Ltd, alleged that the anti-graft body has failed to arrest and prosecute issuers of the dud cheques totalling N346 million reported to it.

The letters were received and stamped also on Dec.14, 2016 at both offices at the Federal Ministry of Justice, while the Offices of Senate President and Senator Utazi received and stamped the letters on Dec. 9, 2016.

Contrary to Starross Energy’s claim, Mr Aderibigbe said the company was not at any time induced to attend the meeting held on October 28, 2014 at the Bank’s head office by any officer of the Bank. “In fact, it was the Managing Director of Starross Energy (who had expressed the intention to open a corporate account with the Bank) that proposed meeting with one of our staff members at the head office, ostensibly to avoid the Apapa traffic. Our staff readily agreed to the meeting, hoping to receive instructions and documents to enable the accounts officer open a corporate account for Starross Energy. Surprisingly, Mr. Lucky Ojenike showed up at the meeting. Mr. Lucky Ojenike’s attendance at the meeting was not at the instance of our staff but at the behest of Starross Energy.”

Subsequently, Aderibigbe said the Bank received a letter from solicitors to Starros Energy wherein the lawyer raised the same spurious allegations. In a bid to resolve the issues, he disclosed that the bank invited the lawyer and his clients for a meeting in a genuine attempt to address their complaints and alleged claims from the Bank’s stand-point. “ But to our surprise, neither the lawyer nor his clients showed up for the meeting,” he lamented.

He also disclosed that the management of Wema Bank also received a letter dated February 17, 2015 from the Legion of Aggrieved Nigerians Against Crime, alleging fraud and intimidation of Starross Energy. “In our reply, we clearly stated the bank’s position, averring also that there was no threat to Starross Energy or to any other person from any of the Bank’s officers, as alleged”.

Aderibigbe alleged that:”In a further attempt to propagate falsehood against the Bank, Starros Energy again reported the alleged claims to the Economic and Financial Crimes Commission (EFCC). The EFCC in the course of their investigation arrested and detained two of our staff members for three days. Further to this, the EFCC wrote to the Nigerian Maritime Administration and Safety Agency (NIMASA) to confirm whether the alleged vessel (MT Cosmic Jewel) was in Nigerian waters with the alleged volume of crude oil during the period stated by the complainant. The report received by the EFCC from NIMASA was to the effect that no such ship or vessel was within Nigerian waters during the period, nor could such a vessel have carried the volume of crude oil alleged by the complainant.

“Based on their investigation, the EFCC released our officers with explanation. We request that you write to the EFCC to confirm the outcome of their investigation on the unfounded allegations made against the bank by Starros Energy. When the EFCC caught the petitioner in a web of his own lies, he refused to show up for a roundtable meeting at the EFCC office. His lawyers equally refused to show up.

The petitioners had stated that Staross Energy Limited legally registered under the Corporate Affairs Commission (CAC) for buying, selling, marketing and distributing all kinds of petroleum products, including crude oil, executed an agreement or MoU with its suppliers, who were the vessel handlers/managers of the crude oil tanker — MT Cosmic Jewel — and who were also marketing about 2,000,000 barrels of Bonny Light Crude Oil (BLCO) loaded in the vessel in October 2014 for NNPC/Joint Venture Operators, the owners of the crude.

They also stated that under the agreement or MoU, that the company as an affiliate or middleman was to bring “a ready, willing and able buyer’’ to buy the crude and that the difference between the price given in the MoU by the suppliers to the company and any price given by the company to any buyer brought to buy the crude was the consideration or profit for the service of the company in the transaction.

It was further agreed that any buyer brought shall pay the full cost of the cargo in dollars or naira equivalent to the nominated bank account of NNPC/Joint Venture Operators which in turn shall issue all the documents for the sale and transfer of ownership of the crude oil to such buyer after making full payment.

According to them, in October 2014 the company allegedly got a buyer who was acting as a frontman or agent for Wema Bank, the Chairman, the Managing Director and the Management of the bank showed great interest in the crude oil deal.

“Several meetings were held at the conference room at the Head Office of the bank with the company officials and the lawyers on Oct. 27 and 28, 2014 respectively where they assured the company that the bank was actually buying the crude oil using the frontman as the buyer to resell to their Foreign Off takers and make profit.

“In preparation for the meeting on Oct. 27, the company on the eve of the meeting, tracked the loaded vessel — MT Cosmic Jewel — on the internet and printed out the AIS colour photographs and live ship map showing that it was on the Nigerian waters at about 8.39 p.m. on Oct. 26.

“The company took the photographs and other documents to the meeting, but would not release them unless the bank’s buyer made a commitment deposit of $2,000,000.00 and they agreed and accepted to give the company two cheques totalling N346 million (the Naira equivalent of $2,000,000.00 at that time) after they must have tracked and confirmed the cargo and agreed that the cheques would be cashed immediately by the company.

“The bank initiated the preparation of the Sales and Purchase Agreement (SPA) of Oct. 28,2014 at the bank’s Head Office which reflected the two cheques totalling N346 million and asked the company to open a corporate account at the bank’s Head Office branch for instant transfer.

“On the strength of the repeated assurances given to the company by the bank and its buyer that the bank had paid sufficient funds into the buyer’s account to buy the crude oil, the company released the photographs of MT Cosmic Jewel map showing its location on Nigerian waters, Bills of Lading, Cargo Manifest, Certificate of Origin, CPA and other documents containing the telephone numbers, contact address and other vital information of the company’s suppliers to the bank and its buyer.

“After obtaining the cargo documents from the company, the bank and its buyer used the bank’s Head Office machines and computers to reproduce, scan and sent the documents by email to their Foreign Off Takers, and also used the Head Office’s internet facilities to track the cargo and confirmed that it was real.

Plateau United on Saturday made history after emerging the champions of the 2017 Nigeria Professional Football League season.
The Kennedy Boboye-led team dethroned Rangers after beating the seven-time champions 2-0 on the final day of the campaign.
The title went to the wire on the final day with the League Management Company, the custodian of the league dispatching two trophies to Jos and Maiduguri as tw team, Plateau and MFM of Lagos still in the running to win the title.
The Peace Boys however do their own side of the bargain winning their match to make the other result inconsequential as they won their first league title after leading the table for 33 Match Days since the start of the season.
MFM on the other hand lost their match against El-Kanemi Warriors 2-1 although they already secured a CAF Champions League slot as they finished second behind the champions.
Meanwhile ABS and Shooting Stars of Ibadan joined Remo Stars and Gombe United in the Nigeria National League as they were both relegated on the final day.
ABS lost 2-1 away to Nasarawa United while Niger Tornadoes defeated Shooting 2-0 in Lokoja, the adopted home of Tornadoes.
Enyimba also claimed the final CAF Confederation Cup slot defeating Katsina United 1-0 in Calabar to edged out Akwa United who also won at home against Kano Pillars.

The statement by Aisha Jumai Alhassan, showing support for former Vice President, Atiku Abubakar, has received a recommendation by the minister’s godfather.

The woman fondly regarded as Mama Taraba is one of President Muhammadu Buhari’s ministers and has openly showed her loyalty for the former Vice President whom she referred to as her godfather, ahead of the 2019 presidential elections in Nigeria.

The Minister of Women Affairs recently acknowledged Atiku as Nigeria’s incoming president in 2019, stating that “And again, Baba Buhari did not tell us that he is going to run in 2019.

“Let me tell you today that if Baba said he is going to contest in 2019, I swear to Allah, I will go before him and kneel and tell him that ‘Baba I am grateful for the opportunity you gave me to serve your government as a minister.

“But Baba just like you know I will support only Atiku because he is my godfather. If Atiku said he is going to contest.”

Atiku who spoke through his media aide, Paul Ibe said: “There’s really nothing to say. It’s like stating the obvious.

“The Minister couldn’t have said it any better, likewise we can’t help say it any better.

“In fact, she spoke the minds of many Nigerians and don’t forget that everyone has a right of association.

“Even then president is aware of the Minister’s support for former Vice President Atiku; they (APC) know.

“So it should not surprise anybody because it is not a secret that the Minister has been behind us.

“Let me tell you, in the federal cabinet, other ministers have their views; they have people they support.

“People forget APC is coalition and when people from different background unite, you cannot expect stakeholders to forget their root.

“What the Minister did was an act of courage and we thank and commend her. We advise those who share similar opinion to also speak out.”

Activities for the next presidential election have got a notch higher with the debut of a group that describes itself as “Osinbajo Volunteers”, stating that its mission is for Vice President Yemi Osinbajo to succeed his principal come 2019.
On its website, the group featured the activities of the erstwhile Acting President, asserting that it wants Osinbajo to stand as presidential candidate in the 2019 election.
On Friday, the Kaduna governor, Nasir El-Rufai stated that President Muhammadu Buhari had not disclosed his decision regarding running for second term, but revealed that he and some governors alongside ministers have constituted themselves into ‘Buharist Group’.
He told State House correspondents after a closed-door meeting with the President that their major objective is to ensure that Buhari presents himself for the 2019 election. Earlier, the Minister of Women Affairs, Aisha Alhassan, while pledging her support to ex-Vice President, Atiku Abubakar, disclosed that Buhari told APC leaders that he was only going to serve for one term.
But in a veiled reference to certain presidents, past and present, who had been described as “clueless”, the Osinbajo Volunteers stated that Nigeria now has a “leader (in Osinbajo) who has a clue on what to do and turn Nigeria the beloved to the land of our dreams”.
While calling on members of the public to volunteer for Osinbajo, the group however made it clear on its website that they are not acting at the behest of the current Vice President.
“Note that Osinbajo did not endorse this volunteer group. We have never met him. We are strong believers in the fact that he is the right ruler for Nigeria and must create a peoples volunteer base for him,” the volunteer group said.

All former Presidents of National Sports Federations have been directed to officially hand over all documents and property in their possession belonging to the federations to the newly elected and sworn-in presidents or face prosecution by relevant government agencies.
Minister of Youth and Sports Barrister Solomon Dalung gave the charge in Abuja last Thursday while addressing Presidents of the National Sports Federations at a meeting with the Nigeria Olympic Committee.
For documentation purposes, Dalung directed the new Presidents to write officially to their predecessors asking for a formal handover of administration.
“The newly elected Presidents must write officially to former presidents and request for a formal hand over. Failure to hand over within the provided period will activate the law. If you refuse to handover government property in your custody, you have invited the law to take over.”
Dalung stressed that no individual or group of people is greater than the constitution or the manchinery of government as represented by the Federal Government in this situation.
He decried the operation of secret accounts by some former presidents of these federations which negates the existing government policy of Treasury Single Account (TSA).
“Most of the former presidents are still running the federation’s accounts and still collecting grants. All accounts of federations must be disclosed. There are accounts of federations that are unknown even to the new Presidents but are known to individuals. This is not an allegation. This exists. All those accounts must be made public.
“The Ministry will not hesitate to invite the Economic and Financial Crimes Commission and other relevant agencies to deal with federations operating multiple accounts. Nobody has the right to receive any grant from anywhere and keep same in any account. That is a violation of the TSA rule. Once it is established, Mr Magu will be invited to help evaluate the magnitude. If established, you’ll be given a presidential escort to Kuje Prison.”
The Minister also called on the Nigeria Olympic Committee led by Engineer Habu Gumel to get involved in the official hand over process of former presidents to the present ones to ensure continuity and a smooth transition.

Dangote Cement Plc is among those considering counteroffers for PPC Group Ltd. that could signal a bidding contest for South Africa’s largest cement maker, according to people familiar with the matter.

Dangote Cement sees a bid for the Johannesburg-based company as a way to accelerate expansion outside its home market of Nigeria, said the people, who asked not to be named as the matter is private. PPC will consider any rival offers to the joint approach by Canada’s Fairfax Financial Holdings Ltd. and domestic rival AfriSam Group Pty Ltd. and present them to shareholders in early October, one of the people said.

PPC shares jumped 2.3 per cent to 6.34 rand as of 12:11 p.m. in Johannesburg, the highest level since May 2. That values the company at 10 billion rand ($780 million).

LafargeHolcim Ltd., the world’s biggest cement maker based in Jona, Switzerland, and Germany’s HeidelbergCement AG are also monitoring PPC’s situation, the people said. Titan Cement Co. SA of Greece is looking at the South African company, according to one of the people. The cement makers’ interest was sparked after Toronto-based Fairfax offered to buy 2 billion rand of PPC’s shares and support a merger with AfriSam earlier this week, the people said. The proposal “significantly undervalued” the business, PPC said at the time.

A spokesman for Dangote didn’t comment. Spokespeople for LafargeHolcim, HeidelbergCement, Titan, Fairfax and PPC declined to comment.

The future ownership of PPC is up for grabs after merger talks with AfriSam failed for a second time last month following two-and-a-half years of on-off negotiations. Both companies have been struggling with high debt levels, which Fairfax offered to resolve with its unexpected entrance to the saga this week. The Toronto-based company said it would recapitalize AfriSam, enabling it to settle outstanding loans, and buy 2 billion rand worth of PPC shares at 5.75 rand each.

PPC’s current share price of 6.34 rand suggests investors expect a higher offer to emerge.

The Fairfax proposal would give the Canadian company a stake of more than 30 per cent stake in the combined entity, said two of the people. The value of the bid would rise when savings generated by sharing PPC and AfriSam infrastructure are taken into account, they said.

The Public Investment Corp., the biggest shareholder in both PPC and AfriSam, would prefer a higher cash component of more than 6 rand a share, the people said, adding that Fairfax hasn’t ruled out increasing its offer.

Dangote has been expanding out of Nigeria, its biggest market, and has operations in 14 other African countries. Africa’s richest man, Aliko Dangote, who also has interests in sugar, flour and packaged food businesses, has a net worth of $11.4 billion, according to the Bloomberg Billionaires Index.

Dangote would be open to a sale of all or part of its Pretoria-based Sephaku Holdings Ltd. unit to win regulatory approval for a takeover, two of the people said.

Separately, PPC said it had reduced capital expenditure targets for fiscal years 2018 and 2019. The company sees spending of as much as 900 million rand in year through March 2018, rising to as much as 1 billion rand the following year, PPC said in a presentation to investors on Friday. The cement maker also said debt would probably fall in the current year.

Every season, the Nigerian Professional football League (NPFL) pitches a new star. Stephen Odey of MFM FC is the man of the moment for the year 2017.

His striking form, which has left opposing teams in tears and sorrow, has placed MFM FC as a major contender among the possible league leaders and has earned them a continental ticket next year.

The sudden resurgence of the club appears to be tied to the magical boots of Stephen Odey whose goal count hits 18. This striker did not just drop from the moon, he is a product of the GTBank Principals Cup, a grass root football development programme of Guaranty Trust Bank.

Steven played in the second edition of GTBank-Lagos State Principals Cup where he was the captain of the winning Dairy Farm Senior Secondary School, Agege. He also topped the list of the GTBank 13-man All Star Team of the Year. It is therefore no surprise that the little mustard seed is fast growing into an oak.

In January 2017, Stephen received the NPFL Bloggers’ Award as the most valuable player of the month. Also, in the current season, he was the first player to score a hat trick among over 200 players in the league.

He scored five goals for the MFM FC in the 2015 season of the Nigeria National League, helping the club to gain promotion into the elite Nigeria Professional Football League. In the Season 2015/16, he scored 9 goals to become his club’s top scorer. In the current season, he has scored a total of 18 goals.

In some instances, 14 goals was what some players scored to emerge the top scorers for the entire season. In the days leading to the last friendly match the Super Eagles had in London, March this year, Odey’s name kept coming up as a domestic league player who should have been employed for the Super Eagles’ assignments. However, his exploit led to his invitation to the Super Eagles CHAN Team double header qualifiers against Benin Republic in August.
The former school boy sensation in the GTBank Principals Cup has a big burden on his neck. He will have to prove that unlike the ‘kings’ before him, he will not be a one season sensation.

Stephen’s impressive performance has now led him to signing a four year contract with Swiss club-FC Zurich, this may not be a big surprise considering the GTBank football tournaments growing profile of football future stars.

The 18-goal mark he set in 36 matches is even higher than what most of his predecessors scored in the entire 38-match seasons in the past.

Consider the goal-chart below:

Past Top Scorers of Nigerian League

1990-Ishaya Jatau (Iwuanyanwu Nationale), 17 goals
1991-Richard Ojomo (Bendel United), 12 goals
1992-Arthur Moses (Super Stores), 10 goals
1993-Tony Nwigwe (Iwuanyanwu Nationale), 13 goals
1994-Olumide Harris (Shooting Stars), 14 goals
1995-Ben Agadah (Gombe United), 12 goals
1996-Peter Anyiolobi (Enyimba), 9 goals
1997-Paul Kpoughoul (Jasper United/BCC Lions), 16 goals
1998-Hassan Minda (Gombe United), 14goals
1999-Emmanuel Agbo (Iwuanyanwu Nationale), 14 goals
2000-Peter Ijeh (Julius Berger), 14 goals
2001-Uche Okereke (Enugu Rangers), 13 goals
2002-Joetex Frimpong (El-Kanemi), Victor Ezeji (Dolphins), 16 goals
2003-Chibuzor Ozurumba (Iwuanyanwu), Endurance Idahor (Julius Berger) 12 goals each
2004-Kabiru Alausa (Berger), 13 goals
2005-Timothy Anjembe (Lobi Stars), Joseph Akpala (Insurance), Charles Omokaro (Sharks), 12 goals each
2006 -Ibenebu Ikechukwu (El Kanemi), 10 goals
2007 – Ameh Aruwa (Kaduna United), 10 goals
2007/2008 – Abubakar Babale (Wikki Tourist/Sunshine Stars), 14 goals
2008/2009 – Akarandut Orok (Akwa United), 17 goals
2009/2010 – Ahmed Musa (Kano Pillars), 18 goals.
2010/2011 – Jude Aneke (Kaduna United), 20 goals
2011/2012 – Sibi Gwar (Niger United), 17 goals.
2012/2013 – Victor Namo (Nasarawa United) 18 goals.
2013/2014 – Mfoh Udoh ( Enyimba) 23 goals

Nollywood screen diva, Rita Dominic, has disclosed that she is presently “working” towards having her own babies.
The 42-year-old ’76 and The Meeting star revealed this in an uncharacteristically open chat about her private life during a recent Facebook Live chat with her fans.
Rita, responding to a question whether she had children, said: “No, I don’t but I’d love to. I love children so much. And I’m working on it, hopefully.”
When questioned if she’s presently in a relationship, she squealed with laughter before responded by saying that it’s her personal life but went on to note that she once had a boyfriend in Germany.
“That’s my personal life. Don’t make me blush. Actually, I used to have a boyfriend. I used to date somebody in Germany”, the actress said without divulging more details on the relationship.
Rita is regarded as one of the most eligible bachelorettes in Nigeria.
In a recent interview with a lifestyle and fashion magazine, Schick, Rita said she could have been married a long time ago, but things didn’t work out.
She however, is hopeful that God will present the right man to her at the right time.
“I believe that God is in charge of my life and will present the right man to me at the right time,” she said.
According to the multiple award-winning actress, she has not allowed the social pressure to stampede her into taking a hasty decision on marriage.
“I am a human being and I would be lying to say that it doesn’t sometimes. More so because it’s something I sincerely want to do but the feeling passes when I remember that society will not live with the person.”
She continued, “I will live with the man, so it is very important that I do it because I want to, not because society wants it for me.”
On the myth that sex, for women, gets better with age, Rita opined that sex at 40 is what you make of it.
“If you ordinarily don’t enjoy it, age won’t make a difference. I find that when a woman embraces her sexuality, many Nigerians equate it to being Ashewo, as if we should act like sex is not pleasurable,” he argued.

First Bank Plc., one of the leading banks in Nigerian financial sector is embroiled in miss-management and internal crisis that could disintegrate the bank if proper actions are not taken urgently.

According to findings, the confusion rocking the bank is connected to billionaire philanthropist and Chairman of Honeywell Group, Oba Otudeko, who is reportedly indebted to First bank to the tune of N75billion and tries to write it off by allegedly projecting his son, Obafemi, as the Managing Director/Chief Executive Officer of the bank.

THEMOMENT learnt that the controversial businessman is allegedly scheming to win over the control of the bank and positioning his son to possibly take over the mantle of leadership of the bank.

The alleged loan, which was dubiously acquired about 7 years ago with his status as the Chairman of the bank, has remained un-serviced till date, an insider claimed, stating that non-performing loan is currently putting the bank and its management in tension as the economic hardship facing the country bites harder on all financial institutions.

To cover up for his indebtedness to First bank, Otudeko was said to have installed one of his sons, Obafemi Otudeko, as a non-executive director in the bank. It was reliably learnt that more pressure is now on the Managing Director of the bank, Adesola Adeduntan to take a drastic step against his chairman over the non-performing loan.

The alleged loan has gotten to the ears of a human rights group, the Social and Economic Rights Derivatives Centre, and strongly-worded petition has been sent to various governmental agencies and the National Assembly, asking the management of First bank to explain how a number of multi-billion naira loans is not reflecting on the bank’s financial records anymore.

Specifically, the group called for the investigation of Otudeko for allegedly obtaining a N29 billion facility from the bank through FBN Trustees, which he claimed was written off without the knowledge and consent of the bank’s shareholders.

It would be recall, late businessman; Aare Arisekola was the largest shareholder in the bank. But before his death, he sold his shares to Oba Otudeko, who has the second largest stake in the bank.

How this scheming and politics will play out, is not yet known, but industrial experts are of the opinion that such action, which may have cost the bank its leading position as Zenith Bank Plc., emerged the biggest bank in Nigeria with First band coming second in the recent rating.

They noted that First Bank which prides itself as “Truly The First Bank” is now the second bank, warning that the financial giant could collapse if nothing drastic is done to arrest the situation, which is bound to cause a stroke to Nigerian biggest elephant.

It will be recalled that Otudeko is in court with Ecobank over an alleged N5.5billion loan availed Honeywell Flour Mills Plc., Siloam Global Services Limited and Anchorage Leisures Limited, which he personally guaranteed.

So, disgruntled was Ecobank’s management that it recently sought a receiving order against Otudeko’s estate, funds, investment and shares in Honeywell Group, Honeywell Flour Mills, among other companies, as well as an order declaring him bankrupt.

However, all efforts made to speak with Corporate Affair of the First Bank failed as neither SMS nor mails sent were responded to as at press time.

Justice Candide-Johnson presiding over a Lagos High Court,south west Nigeria,has ordered Stanbic-IBTC bank Plc and CRC Credit Bureau limited to jointly pay the sum of N50 billion as general damages, to one of its customers, Longterm Global Capital Limited, for false, malicious and injurious falsehood publication against it.
Apart from the judgement sum, the judge also ordered the bank and CRC Credit Bureau Ltd who is a joint defendant in the Suit filed by Longterm Global Capital Limited, to publish forthwith and not less than seven days, a retraction and apology to the claimant in the cover pages of Sunday and Monday editions of the Punch, Thisday and Guardian newspapers, in respect of the alleged false indebtedness publication of the claimant to the bank.
Justice Candide-Johnson also directed CRC Credit Bureau Limited, to immediately delete from its electronically published data bank and all other publications, all references to the alleged indebtedness of the bank’s customer to the bank.
The judge further made an order of perpetual injunction restraining Stanbic-IBTC Bank PLC and CRC Credit Bureau Limited, from further publishing any other materials or details relating to the alleged indebtedness of the claimant to the Stanbic-IBTC PLC
Finally, the court also ordered the payment of interest on the above judgement sum at the rate of 10 percent per annum from the date of judgement of the court until date of the final payment by the defendants in line with the provision of Order 35 Rule 4, of High Court of Lagos State (Civil Procedure) Rules, 2012.
The judgement of the court was sequel to a suit filed before the court by the Stock broking firm, Longterm Global Capital seeking a sum of N50 billion damages against Stanbic/IBTC Bank Limited,over an alleged breach of contract agreement, and malicious publication of non existing indebtedness.
The stock brokerage firm in its statement of claim filed before the court against Stanbic/IBTC and CRC Credit Bureau Limited, by its lawyer, Chief Felix O. Fagbohungbe (SAN),alleged thus: that on or about April 2, 2014, pursuant to the banker/customer relationship between it and the bank, it applied to Union Bank of Nigeria Plc, for a term loan of N250 million, the loan was for the purchase of a commercial property at Lekki Phase 1, Lagos, which would have been prime property it would have acquired and developed Into a multi-storey ultra modern apartment complex for sale to various property investors.
The claimant also averred that due to the urgent nature of the purpose of the loan application at the material time, it’s relevant officials made several follow-up visit Union Bank Plc, to inquire about the state of processing of it’s loan application. But to its greatest bewilderment, its officials were verbally informed by Union Bank Plc that credit status check were being conducted at relevant credit bureaus in respect of its loan transaction with other banks in the country, the bank later wrote a letter stating that it will be unable to grant the loan due to unfavorable credit report which was electronically published by the data bank of Credit Beareu Limited who is the second defendant in this suit to the whole world with the Central Bank of Nigeria’s directive.
The claimant further stated that by Union Bank Plc’s letter, it was informed that pursuant to the mandatory requirement of CBN directing that every bank and Financial institutions in the country must obtain credit status reports from at least two credit bureaus before granting any credit facility to their customers, the Union Bank Plc, applied for and obtained it’s credit status from the second defendant and Messrs Credit Registry Plc, as part of the processing it’s loan application.
It further stated in the report sent by Union Bank that it’s credit status with fisrt defendant was tagged ‘clean’, while report from the second defendant was said to be unsatisfactory and it became aware that the Stanbic IBTC bank had reported to the CRC Credit Bereau limited on or about October 31, 2012, that the bank deliberately, fasely and maliciously wrote and published a credit status report through the second defendant concerning it that it has been blacklisted by the StanbicIBTC as a loan defaulter and bad loan borrower who was owing the sum of N543,030.843 million, for 722 days running as at October 31, 2012, and which numbers of days was over and above the maturity date of December 31, 2009.
The claimant further aveered that Stanbic/IBTC stated that the interest outstanding on the loan as at December 31, 2012, stood at N213, 537, 753 million.
However, the claimant stated that contrary to the false, injurious and Malicious credit status reports published by the Stanbic/IBTC bank, through CRC Credit Bureau Limited, to the whole world including Union Bank Plc, there were no time that the StanbicIBTC granted it any credit facility which would be classified as ‘lost’ in respect of which account balance in the sum of N543,030.843 million, with the accrued interest in the sum of N213, 537, 753 million, or any other sum at all were outstanding against it.
It stated also that to the foregoing, Union Bank Plc relied on the defendants’ credit status information and declined granting it’s term loan which was required to purchase a commercial property.
It also stated that the plaintiff apart from not indebted to StanbicIBTC , it was neither informed by the Stanbic/IBTC that it was indebted nor was any demand made in that regard before the malicious falsehood was reported by Stanbic IBTC to CRC Credit Bureau which was subsequently published the false and untrue credit status reports to Union Bank of Nigeria PLC and the whole world.
It also stated that the credit status reports made to the second defendant by the first defendant in relation to the alleged indebtedness was made without just cause or excuse as there was never a time Stanbic IBTC granted it any credit facility which can be classified as ‘lost’ or’bad’ which it did not pledge adequate and readily realizable collateral security to cover the principal loan amount plus interest.
Consequently,due to the deliberate, malicious and/or injurious falsehood published by the defendants in relation to the credit status, it has been unable to access any credit facility from Union Bank of Nigeria PLC , and all other financial institutions in Nigeria, as it has been blacklisted and embargoed from accessing new credit.
The claimant also stated that the false, malicious and injurious falsehood of the defendants has adversely affected it’s business reputation, as all it’s bankers and Financial institutions are no longer able or permitted to grant any credit facility to argument it’s working capital for reason that it has been effectively blacklisted by been classified as a bad or delinquent borrower and consequently shut-out of Nigeria’s credit system.
The claimant also aveered that the malicious and injurious falsehood by the defendants was calculated embarrassed, de-market and cause huge pecuniary damage as a registered capital market institution, the main objective of the defendants in deliberately, willfully and intentionally published the malicious and injurious falsehood credit report, was to asphyxiated and paralyzed it’s investment activities and capital operation, and to untimely make its business collapsed without just cause.
Consequently, the claimant is urging the court to award it the sum of N50 billion as general damages against StanbicIBTC Bank and CRC Credit Beraeu jointly and severally. and the sum of N50 million as cost of instituting this suit.
It also seeks an order of the court directing the defendants to immediately delete from its electronically published data bank, and all other publications all references to the alleged indebtedness and an order directing the defendants to publish a retraction and or apology to it on the cover of Sunday or Monday edition of two national newspapers, in respect of the alleged indebtedness.
It also seeks an order of perpetual injunction restraining the defendants from further publishing any other materials or details relating to the alleged indebtedness.
However, Stanbic/IBTC in its statement of defence filed before the court denied all the claimant’s aveerment, thereby urging the court to dismiss the suit in its entirety with substantial cost in its favour.
In urging the court to dismiss the claimant’s suit, the bank averred that the claimant maintains an account with its Adetokunbo Ademola branch, and at all material time, the transaction on the said account were recorded electronically by it’s computer system. It added that between April 2008 and June 2011, the transactions were recorded in Account number 1111314381, under the Equinox Core Banking System, and between July 2011 and the time of instituting the suit, the transactions were recorded in Account number 9200689089, under Finacle Core Banking System.
It also stated that it did not author the credit status report cited by the claimant but merely provided the second defendant with the status of the Credit facility obtained by the claimant from it in discharge of it’s obligations under the guidelines for the Licensing, Operation and Regulations of Credit Bureau in Nigeria (CBN Licensing Guidelines).
It also aveered that the aforementioned information it provided to the second defendant was true and consistent with it’s records, and were not borne out of ill-will or malice and were not intended to disparage the claimant’s trade of business as alleged.
Stanbic/IBTC also stated that the claimant’s indebtedness arose as a result of a credit in the sum of N600 million, by virtue of letter of offer dated March 27, 2008 adding that the said indebtedness had been subject of litigation since December 23, 2009, in a suit marked FHC/L/CS/1491/09, Re; Longterm Global Capital Limited and Patrick Akinkotu vs. Stanbic/IBTC, Appeal No. CA/L/194/2011, Stanbic IBTC Vs. Longterm Global Capital and Patrick Akinkotu. And that a notice of appeal dated May 13, 2013, in respect of the matter has been filed at the Supreme Court of Nigeria on a motion on notice dated May 13, 2013.
It also stated that the said indebtedness had been acknowledged in the judgement by the Federal High Court in suit number FHC/L/CS/1491/09, Re; Longterm Global Capital Limited and Patrick Akinkotu vs. Stanbic/IBTC by Justice Achibong.
The bank also stated that the claimant’s Statement of Claim does not disclose a reasonable cause of action, and the action constituted a vexatious, frivolous and Malicious, consequently, the court lacks jurisdiction to entertain the suit.
Consequently, the bank urged the court to dismiss the suit in its entirety, and award substantial cost in it’s favour.

Titilayo Adeyemo, 40, a staff of Eco Bank and a resident of Banjoko Street, Gbagada, Lagos was arraigned before an Igbosere magistrate’s court, Lagos, on a three-count charge bordering on forgery, fraud and conversion.

According to the prosecutor, Inspector Abass Abayomi, Adeyemo, a staff of Eco Bank Plc defrauded a customer of the bank to the tune of N5.8 million in a crime committed sometime between May and October 2016.

While addressing the court, the prosecutor said the defendant committed the offence at the Gbagada, Lagos branch of the bank when she forged a receipt and asked the complainant to fill the receipt.

According to the prosecutor, the offence is punishable under Section 285(7), 361 and 323 of the Criminal Law of Lagos State, 2015.

Before adjourning the case till September 19 for mention, Magistrate Chiamaka admitted the defendant who pleaded not guilty to the charge to N5 million bail, with two sureties, who are gainfully employed, in like sum.

USMAN KADRI

First Bank Plc., one of the leading banks in Nigerian financial sector is embroiled in miss-management and internal crisis that could disintegrate the bank if proper actions are not taken urgently.

According to findings, the confusion rocking the bank is connected to billionaire philanthropist and Chairman of Honeywell Group, Oba Otudeko, who is reportedly indebted to First bank to the tune of N75billion and tries to write it off by allegedly projecting his son, Obafemi, as the Managing Director/Chief Executive Officer of the bank.

THEMOMENT learnt that the controversial businessman is allegedly scheming to win over the control of the bank and positioning his son to possibly take over the mantle of leadership of the bank.

The alleged loan, which was dubiously acquired about 7 years ago with his status as the Chairman of the bank, has remained un-serviced till date, an insider claimed, stating that non-performing loan is currently putting the bank and its management in tension as the economic hardship facing the country bites harder on all financial institutions.

To cover up for his indebtedness to First bank, Otudeko was said to have installed one of his sons, Obafemi Otudeko, as a non-executive director in the bank. It was reliably learnt that more pressure is now on the Managing Director of the bank, Adesola Adeduntan to take a drastic step against his chairman over the non-performing loan.

The alleged loan has gotten to the ears of a human rights group, the Social and Economic Rights Derivatives Centre, and strongly-worded petition has been sent to various governmental agencies and the National Assembly, asking the management of First bank to explain how a number of multi-billion naira loans is not reflecting on the bank’s financial records anymore.

Specifically, the group called for the investigation of Otudeko for allegedly obtaining a N29 billion facility from the bank through FBN Trustees, which he claimed was written off without the knowledge and consent of the bank’s shareholders.

It would be recall, late businessman; Aare Arisekola was the largest shareholder in the bank. But before his death, he sold his shares to Oba Otudeko, who has the second largest stake in the bank.

How this scheming and politics will play out, is not yet known, but industrial experts are of the opinion that such action, which may have cost the bank its leading position as Zenith Bank Plc., emerged the biggest bank in Nigeria with First band coming second in the recent rating.

They noted that First Bank which prides itself as “Truly The First Bank” is now the second bank, warning that the financial giant could collapse if nothing drastic is done to arrest the situation, which is bound to cause a stroke to Nigerian biggest elephant.

It will be recalled that Otudeko is in court with Ecobank over an alleged N5.5billion loan availed Honeywell Flour Mills Plc., Siloam Global Services Limited and Anchorage Leisures Limited, which he personally guaranteed.

So, disgruntled was Ecobank’s management that it recently sought a receiving order against Otudeko’s estate, funds, investment and shares in Honeywell Group, Honeywell Flour Mills, among other companies, as well as an order declaring him bankrupt.

However, all efforts made to speak with Corporate Affair of the First Bank failed as neither SMS nor mails sent were responded to as at press time.

The Ondo State Governor, Arakunrin Oluwarotimi Akeredolu, has announced the portfolios of the newly appointed State Commissioners.

Speaking at a brief meeting with the commissioners at the Council Chambers in the Governor’s office, Arakunrin Akeredolu enjoined members of the State Executive Council to hit the ground running in their respective Ministries.

The commissioners are: Rt. Hon Taofiq Abdulsalam (Ministry of Works & Infrastructure) Rasheed Badmus (Ministry of Natural Resource) Prince Solagbade Amodeni (Ministry of Physical Planning and Urban Development) Otunba Adegboyega Adefarati (Ministry of Agriculture) Saka Yusuf Ogunleye (Ministry of Youth & Sports Development) Hon. Omowumi Olatunji-Edet (Ministry of Women Affairs & Social Development) Donald Ojogo ( Ministry of Lands & Housing) Yemi Olowolabi (Ministry of Information & Orientation) Dr Wahab Adegbenro (Ministry of Health)

Others are: Funso Esan (Ministry of Environment) Wale Akinterinwa (Ministry of Finance) Pastor Emmanuel Igbasan (Ministry of Economic Planning & Budget) Alhaji Olurimisi Ismaila (Ministry of Culture & Tourism) Femi Agagu (Ministry of Education, Science & Technology) Professor Bayonile Ademodi ( Ministry of Regional Integration & Special Duties) Hon.Lola Fagbemi (Ministry of Local Government & Chieftaincy Affairs) Otunba Timilehin Adelegbe (Ministry of Commerce, Industries & Cooperatives) and Kola Olawoye, Esq (Ministry of Justice).

The State Governor had earlier during the meeting read the portfolios of the ten Special Advisers who are also part of the State Cabinet as follows:

Public Inter Government Relations: Mrs Bunmi Ademosu, Union Matters: Mr. Alaba Isijola, Investment and Development: Boye Oyewumi, Lands, Works & Infrastructure: Engineer Raheem Aminu, Political Matters :Hon. Olatunji Fabiyi, Education : Dr Olawumi Ilawole.

Others are Public Utilities: Engineer Tunji Ariyomo, Transport: Tobi Ogunleye, Esq., Health: Dr. Jibayo Adeyeye and Rural & Community Development: Victor Olabimtan.

France forward Kylian Mbappe has joined Paris Saint-Germain on loan for the rest of the season ahead of £166million move to the Ligue 1 giants next summer.
The ex-Monaco starlet has been the subject of interest from a host of big European clubs this summer after netting 26 goals for the French champions last season.
He has moved on loan until June 2018 but PSG have the option of tying him down on a permanent deal until 2022.
‘It is with great joy and pride that I join Paris Saint-Germain,’ Mbappe said after signing his contract.
‘For any young person from the Paris region, it is often a dream to wear the red and blue jersey and experience the unique atmosphere of the Parc des Princes. I really wanted to be a part of the club’s project, which is one of the most ambitious in Europe.
‘Alongside my new teammates, I intend to continue my progression while helping the team achieve the very big objectives it has set itself.’
‘Real Madrid, Arsenal and Barcelona were all linked with a move for the 18-year-old. But Mbappe, who is currently on international duty with Didier Deschamps’ side, has opted to remain in his home country.

First Bank Plc., one of the leading banks in Nigerian financial sector is embroiled in miss-management and internal crisis that could disintegrate the bank if proper actions are not taken urgently.
According to findings, the confusion rocking the bank is connected to billionaire philanthropist and Chairman of Honeywell Group, Oba Otudeko, who is reportedly indebted to First bank to the tune of N75billion and tries to write it off by allegedly projecting his son, Obafemi, as the Managing Director/Chief Executive Officer of the bank.
THEMOMENT learnt that the controversial businessman is allegedly scheming to win over the control of the bank and positioning his son to possibly take over the mantle of leadership of the bank.
The alleged loan, which was dubiously acquired about 7 years ago with his status as the Chairman of the bank, has remained un-serviced till date, an insider claimed, stating that non-performing loan is currently putting the bank and its management in tension as the economic hardship facing the country bites harder on all financial institutions.
To cover up for his indebtedness to First bank, Otudeko was said to have installed one of his sons, Obafemi Otudeko, as a non-executive director in the bank. It was reliably learnt that more pressure is now on the Managing Director of the bank, Adesola Adeduntan to take a drastic step against his chairman over the non-performing loan.
The alleged loan has gotten to the ears of a human rights group, the Social and Economic Rights Derivatives Centre, and strongly-worded petition has been sent to various governmental agencies and the National Assembly, asking the management of First bank to explain how a number of multi-billion naira loans is not reflecting on the bank’s financial records anymore.
Specifically, the group called for the investigation of Otudeko for allegedly obtaining a N29 billion facility from the bank through FBN Trustees, which he claimed was written off without the knowledge and consent of the bank’s shareholders.
It would be recall, late businessman; Aare Arisekola was the largest shareholder in the bank. But before his death, he sold his shares to Oba Otudeko, who has the second largest stake in the bank.
How this scheming and politics will play out, is not yet known, but industrial experts are of the opinion that such action, which may have cost the bank its leading position as Zenith Bank Plc., emerged the biggest bank in Nigeria with First band coming second in the recent rating.
They noted that First Bank which prides itself as “Truly The First Bank” is now the second bank, warning that the financial giant could collapse if nothing drastic is done to arrest the situation, which is bound to cause a stroke to Nigerian biggest elephant.
It will be recalled that Otudeko is in court with Ecobank over an alleged N5.5billion loan availed Honeywell Flour Mills Plc., Siloam Global Services Limited and Anchorage Leisures Limited, which he personally guaranteed.
So, disgruntled was Ecobank’s management that it recently sought a receiving order against Otudeko’s estate, funds, investment and shares in Honeywell Group, Honeywell Flour Mills, among other companies, as well as an order declaring him bankrupt.
However, all efforts made to speak with Corporate Affair of the First Bank failed as neither SMS nor mails sent were responded to as at press time.

In 2004, Nigeria witnessed the phenomenal entry of the world renowned game show ‘Who Wants To Be A Millionaire’? (WWTBAM), produced by Ultima Limited, trail blazers in the entertainment industry.
All over the globe it was been hailed as a quintessential mind builder, and in Nigeria, in addition to over N1 Billion the show has given out, it has won all kinds of awards for its educational, intellectual, technical, and moral quality.
The show is designed for the whole family and with the encore for more, MTN took over the sponsorship of the show by doubling the money tree. The huge success of the show gave birth to the Sunday episodes in 2008.
But it was shocking to Nigerians, especially the teeming followers of the most popular television family quiz programme when earlier this year when the host, Frank Edoho, announced that the show would be temporarily rested because the sponsor, MTN Nigeria had pulled out.
However, entertainment enthusiasts can have course to smile again as the show is set to return on Sunday, September 3, 2017 with Airopay as its new sponsor. However, the show returns with a lot of modifications.
Airopay is an international payment operator offering a secure, fast and inexpensive way to send and receive money through bank accounts and mobile wallets anywhere in the world.
Airopay exists to remove the traditional barriers associated with e-money transactions. As an organisation, Airopay works with the highest level of integrity in their dealings by building trust and credibility with their customers, employees, partners, financial institutions, and communities.
According to the Chief Executive Officer of Airopay, Charles Oyakhilome John who was delighted at the signing of the sponsorship agreement in Lagos. “Airopay is thrilled to partner with Ultima Limited, whose passion and dedication to quality and world class productions are well known, by sponsoring the ‘Who Wants To Be A Millionaire’? We are convinced that the synergy between Airopay and the show will be mutually beneficial,”
“Who Wants To Be A Millionaire is much bigger, richer and better, as the new Airopay has increased the winnings sums of contestants who make it to the hot seat and participants who engage in the homeplay,” said Oyakhilome.
Asides the change in sponsor, the likelihood of a change in presenter of Who Want to Be a Millionaire is very possible with Frank Edoho likely to step aside.
Speaking during the unveiling of the sponsorship Chief Executive Officer (CEO), and Chairman, Utima Limited, Femi Ayeni, confirmed the likely change in its presenter saying that “there is the possibility of a new presenter. However, we are still talking to Frank Edoho. At this time, he wants to work on other things, but we will see. If we have to part ways, it will be amicably,” Ayeni said.
On the partnership with Airopay, he said that it is one, which he expects to span over a period of two year after which there is a possibility of renewal.

A lawyer representing Igbos residing in the North, Vincent Egechukwu Obeta, has filed three lawsuits before the Federal High Court in Abuja, and the Economic Community of West African States (ECOWAS) Court seeking to compel the Inspector-General of Police (IGP) to arrest members of the Arewa Consultative Forum, ACF, within seven days.

Obeta, who made the disclosure in a statement on Monday said the first lawsuit seeks an Order of Mandamus of the Federal High Court, compelling the IGP to arrest ACF’s leader, Yerima Shettima and the body’s members who had in July, issued a quit notice asking Igbos to vacate North by October 1.

Recall that the Northern group had last week withdrawn the quit notice, urging Igbos to go about their activities in the region.

But the lawyer said the second lawsuit is seeking a fundamental rights enforcement against Shettima, the IGP and the Federal Government.

Obeta noted that the lawsuit seeks to enforce the rights of the Igbo to move freely throughout Nigeria and to reside in any part of the country as guaranteed by Section 41(1) of the Constitution.

The third is a fundamental rights enforcement suit, filed at the ECOWAS Court, against Shettima, the IGP and the Federal Government.

Obeta warned that should the police boss failed to comply with the Order of Mandamus to arrest Yerima, if granted by the Federal High Court, he will approach the International Criminal Court (ICC) in The Hague, to press criminal charges against them.

He disclosed that one of the charges would be the aiding and abetting of a second genocide against the Igbo in the North.

Obeta said, “My criminal suit for such second genocide against Ndigbo in the North will be filed against Shettima, the IGP, the Attorney- General of the Federation (AGF), Professor Ango Abdullahi and Professor Yemi Osinbajo as the Acting President of Nigeria when the threat of a second genocide against Ndigbo in the North was issued.”

The lawyer stated that the IGP, Attorney General of the Federation, AGF, and the Vice President, Yemi Osinbajo will be charged before the ICC for deliberately neglecting to arrest and prosecution of Arewa youths leader after he issued the quit notice.

“Nothing short of such arrest and prosecution will suffice to settle the three suits as filed. It is no longer news that the cynical silence and manifest bias of the Federal Government and its agencies since the treasonable threat against the Ndigbo was issued have encouraged and opened a floodgate of hate speeches and songs,” he said.

USMAN KADRI

First Bank Plc., one of the leading banks in Nigerian financial sector is embroiled in miss-management and internal crisis that could disintegrate the bank if proper actions are not taken urgently.

According to findings, the confusion rocking the bank is connected to billionaire philanthropist and Chairman of Honeywell Group, Oba Otudeko, who is reportedly indebted to First bank to the tune of N75billion and tries to write it off by allegedly projecting his son, Obafemi, as the Managing Director/Chief Executive Officer of the bank.

THEMOMENT learnt that the controversial businessman is allegedly scheming to win over the control of the bank and positioning his son to possibly take over the mantle of leadership of the bank.

The alleged loan, which was dubiously acquired about 7 years ago with his status as the Chairman of the bank, has remained un-serviced till date, an insider claimed, stating that non-performing loan is currently putting the bank and its management in tension as the economic hardship facing the country bites harder on all financial institutions.

To cover up for his indebtedness to First bank, Otudeko was said to have installed one of his sons, Obafemi Otudeko, as a non-executive director in the bank. It was reliably learnt that more pressure is now on the Managing Director of the bank, Adesola Adeduntan to take a drastic step against his chairman over the non-performing loan.

The alleged loan has gotten to the ears of a human rights group, the Social and Economic Rights Derivatives Centre, and strongly-worded petition has been sent to various governmental agencies and the National Assembly, asking the management of First bank to explain how a number of multi-billion naira loans is not reflecting on the bank’s financial records anymore.

Specifically, the group called for the investigation of Otudeko for allegedly obtaining a N29 billion facility from the bank through FBN Trustees, which he claimed was written off without the knowledge and consent of the bank’s shareholders.

It would be recall, late businessman; Aare Arisekola was the largest shareholder in the bank. But before his death, he sold his shares to Oba Otudeko, who has the second largest stake in the bank.

How this scheming and politics will play out, is not yet known, but industrial experts are of the opinion that such action, which may have cost the bank its leading position as Zenith Bank Plc., emerged the biggest bank in Nigeria with First band coming second in the recent rating.

They noted that First Bank which prides itself as “Truly The First Bank” is now the second bank, warning that the financial giant could collapse if nothing drastic is done to arrest the situation, which is bound to cause a stroke to Nigerian biggest elephant.

It will be recalled that Otudeko is in court with Ecobank over an alleged N5.5billion loan availed Honeywell Flour Mills Plc., Siloam Global Services Limited and Anchorage Leisures Limited, which he personally guaranteed.

So, disgruntled was Ecobank’s management that it recently sought a receiving order against Otudeko’s estate, funds, investment and shares in Honeywell Group, Honeywell Flour Mills, among other companies, as well as an order declaring him bankrupt.

However, all efforts made to speak with Corporate Affair of the First Bank failed as neither SMS nor mails sent were responded to as at press time.

Talk tough, say sure of victory over Buratai, Obiano, Ikpeazu, 13 others
Attorney Bruce Fein and his Partner W. Bruce DelValle have broken their silence, days after their trip to Nigeria during which they gathered evidence in connection with the suit lodged by 10 pro-Biafra activists.
News Express, broke the news of their visit, during which they interviewed their clients and other witnesses in Enugu.
The two senior lawyers in a statement issued in Washington, D.C. and made available to News Express by mail, talked tough, alleging mind-boggling atrocities against Igbos in Nigeria. They expressed confidence of victory in the developing legal battle.
The statement reads: “The law firm of Fein & DelValle PLLC travelled to Enugu, Nigeria—the heart of Igboland—from August 19-August 24, 2017. Our visit was to meet with our plaintiffs-clients, to gather facts and to conduct research to advance the Torture Victims Protection Act (TVPA) lawsuit we have filed in the United States District Court for “the District of Columbia on behalf of ten (10) anonymous plaintiffs against sixteen (16) individual defendants for extrajudicial killings and torture perpetrated under color of Nigerian law motived by the Igbo ethnicity, Christian faith, and political viewpoints of the victims.
The case is styled John Doe, et al v. Turkur Yusuf Buratai, et al, Civil Action No. 1:17-cv-0133.
“Plaintiffs are seeking compensatory and punitive damages to secure justice for the Igbo people, to give them hope for the future, and to deter genocide, ethnic cleansing or the extermination of Christians in Nigeria by radical Islamic Hausa-Fulani terrorists in Northern Nigeria.
“We are convinced that Nigeria is the most dangerous country in the world for Christians. They routinely defile the sanctity of churches by killing children hiding their tiny bodies in pews. In violation of Nigeria’s professed secular constitution, Nigeria has joined the Organisation of Islamic Unity and twelve northern states have adopted sharia law.
“The Christian Open Door Report of 2015 found that Boko Harem, the northeast Islamic terrorist organisation, had killed 11,000 Christians, destroyed 13,000 churches and 1,500 Christian schools, had created 2.6 million internally displaced persons, and forced 1.3 million Christians to flee.
“On July 11, 2017 by the Fulani Youth Consultative Forum (ACYF) issued an odious, chilling and genocidal threat to plunder the properties and evict by force and violence eleven (11) million Igbos peacefully residing in Northern Nigeria if they do not vacate the region by October 1, 2017.
“The Government of Nigeria and 19 northern states have tacitly endorsed the ACYF threatened genocide of twice the number who was exterminated by the Nazis in the Holocaust! The federal and state governments in northern Nigeria have refused to arrest even a single ACYF member.
“In our Buratai suit, the District Court issued an order granting the plaintiff’s motion to proceed anonymously because they reasonably feared lethal retaliation against themselves or families if their identities were known.
“The actions of the defendants were crimes against humanity that can be prosecuted in any jurisdiction in the world. Indeed, the Convention Against Torture mandates that signatory nations like the United States and Nigeria prosecute the crimes of torture or extrajudicial killings.
“Fourteen of the individual defendants are federal officials and two are state governors in the Southeast. One of the two, Governors, Willie Obiano of Anambra State has already apologised for the brutal killings of plaintiffs that he admits were perpetrated under his aegis. The other defendant Governor is Dr. Okezie Ikpeazu of Abia State.
“The defendants have yet to answer. Several are in default for failure to respond within 21 days of the service of the summons and Complaint. We are optimistic about our chances of victory at trial or earlier.
“Defendants are represented by a small Nigerian law firm in California thousands of miles from the venue of the litigation in the District of Columbia. The defendants’ representative law firm said they have been contacted by the Government of Nigeria not by the individual defendants.
“We salute the courage of our 10 anonymous plaintiffs and their brave supporters throughout Igboland. We are unified in our insistence on obtaining justice for the Igbo people through peaceful and lawful means that disavow the lawless savagery of their persecutors. They should tremble when they reflect that God is just, and that his justice will not sleep forever.”

South Korean court has found Lee Jae-yong, the de facto chief of the sprawling Samsung business empire, guilty of bribery and other corruption charges.

Lee, the billionaire son of Samsung’s ailing chairman, was sentenced to five years in prison on Friday, well short of the 12-year sentence prosecutors had sought.

The criminal conviction is a blow for Samsung, the world’s largest smartphone maker and South Korea’s biggest family-run conglomerate whose businesses are estimated to account for around 15 per cent of the country’s entire economy.

The so-called “trial of the century” has gripped South Korea for months. It’s part of a huge influence-peddling scandal that brought down the government of former President Park Geun-hye.

“The public is disappointed that this kind of large-scale crime caused by cozy relations between politics and business still happens — it’s not in the past but remains a reality,” Judge Kim Jin-dong said in court.
He also laid some of the blame on Park, saying the former president made “aggressive demands” of Samsung.

The Nigerian government has asked the court to revoke the bail granted leader of the Indigenous People Of Biafra, Nnamdi Kanu.
According to a statement by the office of the Attorney General, Abubakar Malami, on Friday, the Nigerian government also asked the court to order the arrest and detention of Mr. Kanu, pending the determination of the charge against him.
The statement which was signed by special assistant to Mr. Malami, Salihu Isah, cited disobedience of court orders, among other issues as grounds for the appeal.
Mr. Kanu, who is facing trial for alleged treason, was granted bail in April by an Abuja Division of the Federal High Court on health grounds.
The other defendants facing trial with him were not granted bail, although all of them had sought to be freed.
A top security official disclosed on Thursday night that Mr. Kanu would be promptly arrested should his bail be revoked by a court.

Airtel Nigeria led by Mr. Segun Ogunsanya, may have to explain to the general public, the death of late Chika Alex-Etuk, who had a major injury in 2016 in Airtel office located at 11, Adeniran Ogunsanya Street, Surulere, Lagos State.

There are report that the mother of two was allegedly neglected by the communication giant after sustaining a major injury when she went to buy and register a SIM card for her phone in the premises of Airtel in Lagos.

According to the reports, on Thursday 29, December, 2016, late Chika visited Airtel office at 11, Adeniran Ogunsanya Street, Surulere, Lagos State to obtain and register a new Subscriber Identification Module (SIM) for her phone, meant for her two children South Africa.

At around 1pm, Chika at the Airtel premise and was asked to fill out a form by Airtel staff, which she did and she was immediately ushered in by one of the Airtel staff picture capturing, which was one of the requirements for the SIM registration.

As she stepped into the area, the tiled floor on the spot where she stood caved in and Chika fell into a sinkhole with her left leg stuck up to her knee. She sustained multiple lacerations to her lower leg, cuts around her thigh and went into shock for pain and loss of blood.

Her children were traumatised by the incident, which has affected them mentally. They were not shielded from the scene, they watched in horror as a chunk of their mother’s flesh laid on the ground while she yelled out, for hours, in pain.

The first son now ( has developed breathing problem, he is not able to sleep well, while the second son (age 6) is always in and out of hospital, not able to communicate or play with other children.

The incident plus the death of their mother has left the two boys severely traumatised, especial the six year old son who is always afraid to sleep at night because he wakes up sweating, screaming and calling out for the mum to come back home.

When we visited the family, the deceased six (6) years old son said he told the mother not to go out on that particular day.

THEMOMENT learnt the response of Airtel was practically non-existent when the accident occurred. They all first ran out of the building according to an eyewitness, few minutes later they came back sporadically, they just stood there and watched her as she laid in pain – some even ran away without looking back.

Eventually, the late Mrs. Chika Alex Etuk was taken to a near by hospital by her friend and other sympathisers where she was refused treatment because they could not handle the severity of the bleeding and injuries.

She was immediately rushed to St. Claire’s Hospital in Surulere, Lagos – the staff of Airtel Network did not make any attempt to rush her to a hospital or offer help in any way.

She was later admitted to the Emergency Ward of National Orthopaedic Hospital Igbobi, Lagos state, after a long stay in pain and agony at Orthopaedic hospital, she later died on the 30th of January, 2017 after a surgery was carried out on her leg as a result of the injury she suffered in Airtel’s property, due to their instructions.

The incidents that took place in the premises of Airtel Network, which lead to the death of late Mrs. Etuk, were preventable if not for the gross negligence of Airtel Network and their lack of human empathy.

This was corporate manslaughter.

To rob salt to the injury, we were reliable inform Airtel Limited offered Three million naira (£7000 pounds) to late Chika’s family as compensation so that the news will not go public. Mrs. Chika Etuk was the bread winner of her family, which Airtel Limited was made aware but they choose to make a mockery of her death knowing so many people who depended on her including her two young boys and aged mother.

The 43 years late Mrs. Chika Alex Etuk was a member of The Redeemed Evangelical Mission (TREM), a church worker in the We Care Ministry department of TREM, a faithful wife, a mother, a sister, a daughter, aunty, a giver and true Christian.

Airtel Limited, we gathered, has done nothing but offer empty words of fake condolence in a series of letters in order to prevent a law suit.

Now two children of the ages 6 and 8 are left without a mother because of their callousness.

They further insulted the family by offering them £7000 to cover up the story, even though Airtel is a multi billion dollar company.”

Our effort to get the corporate department of Airtel to react to the story prove abortive as at press time as there were no response to SMS sent non response to call put across.