₦airaland Forum

The founder and the general overseer of Champions Royal Assembly, Kubwa, Abuja, Bro Joshua Iginla, has joined his voice to the widespread condemnation greeting the alleged killings of migrants and human trafficking going on in the country, describing it as man’s wickedness against another. Speaking at his church service last Sunday in Abuja, the revered man of God also decried the desperation of Nigerian nationals and other Africans to seek greener pastures abroad, revealing that there was no machine out there that guaranteed instant prosperity once they land abroad.

Recall, last month, the popular Cable News Network (CNN) brought into our living rooms a video clip of black migrants being sold in night markets in Libya. It showed migrants auctioned off for as little as four hundred dollars.

“I have never seen this level of heartlessness, wickedness from one human being to another. I saw how young ladies were molested and I begin to wonder if the people doing these are human beings.

“That is why in this ministry, we are doing our best to assist. It is really wicked to see how people price human beings like food. I pray that the government of the day will take cogent steps because there are a lot of poor brothers out there in pains.

“Please, like I always say to Nigerian youths, don’t be too desperate to relocate abroad that you now travel through desert. Let me tell you, what you are going through here is better than what people are going through out there”

Bro Iginla said he once nursed the idea of joining the bandwagon of fortune seekers abroad but God held him back. According to him, “I said to myself that all the days of my life will I wait until my change comes before God lifted me up. I had taken that decision before to travel out by all means but God said to me that I should relax and that he would take me abroad as a glorified wealthy person just to add colour to what is there and that is what God has done for me.”

He said through the prayers of the faithful, and by the grace of God, those who are in this act of slavery business will be exposed by Heaven, and if they refuse to repent, death will visit them. He also declared that fellow Nigerians involved in the human trafficking business as if they were selling eggs, deceiving people into their wickedness, God would also expose and bring them to judgment if they refuse to repent.

The televangelist cum philanthropist advised Nigerian youths not to be in a hurry to travel abroad. “If you go abroad, you will labour, in fact, you will work harder than when you are in Nigeria. Our people who are there can testify to what I am saying.

“Nigerian laws are more human-friendly than those of other countries. I have never seen a law like Nigeria that is so friendly to the citizens unlike the foreign countries.

“My brethren, we are crying every day that Nigeria is bad; no, Nigeria is a good, blessed country and it will prosper.”

He opined that where most people miss it is that they wait on the government for everything, adding that the best way to survive in Nigeria for now is entrepreneurship. “Don’t wait for the government because in the next 30 years, they will continue to promise, create your Jerusalem yourself.

“Please don’t be in a hurry to travel out, let’s join hands together in prayers to make Nigeria better.”​

Sterling Bank Plc, led by Mr. Yemi Adeola, the “one-customer bank”, has one customer giving it sleepless nights over a loan that not only went bad but has now snowballed into a major scandal in the banking industry, TheCable can report.

Grant Properties Limited, a property development company, has accused Sterling Bank of excising 10 hectares — which land it values at N5 billion — from a 50-hectare collateral and illegally selling it for pittance to a front company of a very senior director of the bank.

A Lagos high court has now ruled that the collateral was illegally sold, but there is also suspicion that the Asset Management Corporation of Nigeria (AMCON) is less than disinterested in the matter.

AMCON is accused of trying to arm-twist Grant Properties into abandoning the court judgment that nullified the sale of the collateral.

The business deal started in 2002 when Grant Properties secured a 50-hectare land in Lekki, Lagos state, to build “Victory Park Estate”.

It approached Unity Bank, Skye Bank, Wema Bank and Sterling Bank for an N8 billion ongoing loan to partly fund the project. Sterling was the lead of the consortium.

Grant Properties transferred the shares in its subsidiary, Knight Rook Limited, to the banks as security for the loan.

READ MORE HERE: http://witnessngr.com/sterling-bank-in-illegal-sale-of-customers-collateral-to-director/

Former Vice President, Alhaji Atiku Abubakar, has resigned from the All Progressives Congress.
Abubakar confirmed this in a statement he personally signed on Friday.

He also gave reasons for quitting the party. However, he did not state which party he intends to join, but said he is pondering on his political future.

The statement, titled: “Statement of resignation of His Excellency Atiku Abubakar (Waziri Adamawa) Vice President of Nigeria, 1999-2007 from the All Progressives Congress,” reads in full…

“On the 19th of December, 2013, I received members of the All Progressives Congress at my house in Abuja. They had come to appeal to me to join their party after my party, the Peoples Democratic Party, had become factionalized as a result of the special convention of August 31, 2013.

“The fractionalization of the Peoples Democratic Party on August 31, 2013 had left me in a situation where I was, with several other loyal party members, in limbo, not knowing which of the parallel executives of the party was the legitimate leadership.

READ MORE: http://witnessngr.com/breaking-atiku-resigns-from-apc-full-letter/

L-R Seye Awojobi (FCIB)Registrar/Chief Executive, CIBN, Bolanle Osotule - Head, Marketing & Corporate Communications, Keystone Bank, Bimbo Alabi (ACIB) Head, Learning Academy, Keystone Bank, Professor Segun Ajibola (FCIB) - President/Chairman of Council, CIBN, Adesuwa Nwokobia - Team Member, Learning Academy, Keystone Bank, Dr Paul Olowu (FCIB) 1st Vice President, CIBN Mr. Bayo Olugbemi (FCIB) - 2nd Vice President, CIBN at the Official Presentation of Certificate of Accreditation of Keystone Bank Learning Academy recently.

Great!

Keystone Bank Limited, has reaffirmed its commitment to deliver unparalleled products and services to its customers with the recent launch of its new brand campaign tagged: “I Bank with Keystone Bank”

The campaign is geared towards creating awareness for the corporate brand and positioning Keystone Bank as a partner and enabler that supports customers to achieve their goals through opportunities made available by the bank.

Speaking on the development, the Group Managing Director/CEO of Keystone Bank, Mr. Obeahon Ohiwerei said, “With the new focus/drive within the bank, we believe it is imperative for us to re-affirm our commitment to our stakeholders and to highlight the positive strides that we are taking in order to inspire confidence in our customers”.

“Every business requires a steady hand that lends the right kind of support and every year, Keystone Bank helps thousands of business people achieve their goals with consistent commitment to quality service. This is one major factor we wish to showcase with this campaign” Ohiwerei stated.

Keystone Bank is a technology and service-driven commercial bank offering tailor-made convenient and reliable solutions to every customer’s needs.

Nice one

In keeping with its commitment to promote qualitative education and sustainable development in Nigeria, Keystone Bank Limited, has handed over a renovated and fully equipped Sick Bay to Dodan Barracks Primary School, Obalende, Lagos to manage remote health challenges of the students.

Speaking on the lender’s passion for investment in the education sector at the commissioning ceremony, the Divisional Head, Marketing & Corporate Communications of Keystone Bank, Mrs. Omobolanle Osotule said that the intervention is aimed at supporting the school to further improve the learning and teaching environment, thereby raising the standard of education in the country.

Osotule said: “As a bank that is committed to the development of Nigerian youths, Keystone Bank recognises education as the bedrock of sustainable development, which is why education is one of our core CSR pillars.”

“As much as education is an essential aspect of the development of any society, it is also important that children have easy access to first level healthcare while at school”.

“The initiative is part of the bank’s overall strategy to create a sustainable impact around healthcare, education, youth/women empowerment and employee volunteering. We shall continue to do more in this regard.” Osotule stressed.

In his response, the head teacher of the school, Mr Kayode Edun, thanked the Bank for the kind gesture. “We truly appreciate the efforts of Keystone Bank in giving the school’s sick bay a new lease of life. It is our prayer that the bank will continue to grow from strength to strength; and as progress is made, more initiatives like this will be implemented”, Edun said.

Keystone Bank, a technology and service-driven commercial bank offering convenient and reliable solutions to its customers has been at the forefront of various educational and Women/Youth empowerment initiatives in recent times.

The lender recently partnered with the Junior Achievers Nigeria (JAN), spearheading efforts in the furtherance of the Central Bank of Nigeria’s financial literacy drive by teaching children across the country on financial education/Independence.

READ MORE: http://witnessngr.com/keystone-bank-supports-educational-development-renovates-sick-bay-in-lagos-school/

*Ekere accused of defrauding Akwa Saving and Loans Limited
* Bank petitions EFCC, Demands Prosecution

Nsima Ekere, the managing director of the Niger Delta Development Commission, NDDC, is embroiled in another massive financial scandal in which a bank has dragged him to the Economic and Financial Crimes Commission, EFCC, demanding a refund of N188 million and prosecution for financial misdeeds.

The alleged fraud dates back to when Nsima Ekere was deputy governor of Akwa Ibom State from May 2011 to October 2012 when he unceremoniously resigned to avoid impending impeachment. According to the bank, the former deputy governor illegally withdraw money from 9 bank accounts belonging to the state government and diverted them to an Ekere family company.

Ekere is also involved in a financial scandal in which a court froze all his accounts in Nigerian banks and ordered the forfeiture of his Ewet Housing property. The details of the case cast the picture of a troubling level of personal financial recklessness.

In a petition exclusively obtained by The Trent titled “PETITION ON FINANCIAL CRIMES AGAINST MR. NSIMA EKERE, MESSRS TECHSEL PRODUCTS LIMITED, MR. IDORENYIN UDO EKERE, DR. ANIEKAN UDO EKERE AND UTIBE IDORENYIN EKERE”, copies of which were sent to the Economic and Financial Crimes Commission, EFCC, and other security agencies, the petitioners describe Ekere’s actions as “unconscionable financial crimes” and accuse the NDDC boss of “unlawfully and fraudulently siphoning” the sum of N188 million from the Akwa Ibom State government account.

The petition is signed by Abasiama Idiong, the company secretary of Akwa Savings and Loans Limited, “a bank incorporated under the laws of the Federal Republic of Nigeria, having its Head Office in Uyo, Akwa Ibom State”.

FOR MORE: http://witnessngr.com/nddc-boss-nsima-ekere-in-n188-million-fraud-scandal-efcc-petitioned/

Innoson Group In $300m Credit Controversy by Trending01: 6:47am
Observers are beginning to query what has happened to the $300m foreign facility obtained by indigenous auto manufacturing group, Innoson Vehicle manufacturing (IVM) in 2016 for the local production and supply of a minimum Set-Top Boxes to support the FG’s Digital Switch Over (DSO) project being handled by the National Broadcasting Commission (NBC).

This newspaper gathered that the amount was part of Innoson Group partnership with a Consortium of Chinese Investors to pump in $1billion into Nigeria information technology sector of the economy; to include 400 million Nigeria’s DSO Project Digital Satellite TV station and additional $600 million covering other important sectors.

Recalls that in October 2016, the public relations & media assistant at Innoson Group, Cornel Osigwe quoted the Vice President, Prof Yemi Osinbajo, that he had on Monday, October 25, received the consortium of Chinese Foreign Investment Group led by Liu Baoju, a deputy minister of Communist Party of China in Shandong Province where the deal was discussed.

Osigwe noted then that visit which comes as one of the gains of President Muhammadu Buhari’s visit to China will attract a foreign investment of 1Billion USD.

READ MORE HERE: http://witnessngr.com/innoson-group-in-300m-credit-controversy/

Observers are beginning to query what has happened to the $300m foreign facility obtained by indigenous auto manufacturing group, Innoson Vehicle manufacturing (IVM) in 2016 for the local production and supply of a minimum Set-Top Boxes to support the FG’s Digital Switch Over (DSO) project being handled by the National Broadcasting Commission (NBC).

This newspaper gathered that the amount was part of Innoson Group partnership with a Consortium of Chinese Investors to pump in $1billion into Nigeria information technology sector of the economy; to include 400 million Nigeria’s DSO Project Digital Satellite TV station and additional $600 million covering other important sectors.

Recalls that in October 2016, the public relations & media assistant at Innoson Group, Cornel Osigwe quoted the Vice President, Prof Yemi Osinbajo, that he had on Monday, October 25, received the consortium of Chinese Foreign Investment Group led by Liu Baoju, a deputy minister of Communist Party of China in Shandong Province where the deal was discussed.

Osigwe noted then that visit which comes as one of the gains of President Muhammadu Buhari’s visit to China will attract a foreign investment of 1Billion USD.

READ MORE HERE: http://witnessngr.com/innoson-group-in-300m-credit-controversy/

Justice Wasiu Animahun of a Lagos High Court in Igbosere has dismissed a N50 million suit filed by a telecommunication company, Globacom Limited, against the Economic and Financial Crimes Commission (EFCC) for threatening to arrest and detain its Head of Marketing Department, Mr. Ashok Israni, over a petition by a foreign firm.

A Dubai-based firm, Emitac Mobile Solutions, LLNP, had in the petition accused Globacom of refusing to pay the sum of $6, 685, 312. 88 being the balance of the service it rendered to the telecommunication outfit.

However, in his arguments, Globacom’s lawyer, O. Uye, disclosed that there was nothing criminal in the transaction for the EFCC to investigate.

According to him, disagreement over the alleged debt arose owing to a dispute between his client and the foreign firm with respect to service delivery.

In his own submissions, EFCC’s lawyer, G. J. Ochia, said the commission had to wade into the matter because there was a reasonable suspicion that a crime has been committed.

READ MORE: http://witnessngr.com/court-dismisses-n50m-globacoms-suit-against-efcc-others/

A tomato processing company, Erisco Foods Limited, situated in Oregun Lagos, Nigeria has dragged the Central Bank of Nigeria before a Federal High Court in Lagos in suit no: FHC/L/CS/402/17 claiming N20 billion as general damages in consequence of illegal, wrongful, unlawful and unconstitutional conduct by the apex bank denying the company to purchase the United States dollars equivalent from the CBN because of its refusal to offer gratifications to officials of the bank.

Joined as second defendant in the suit is Stanbic IBTC bank.

The claimant explained that it heeded the Federal Government of Nigeria offer under the CBN Commercial Agriculture Credit Scheme CACS, by which the FGN gives financial support to Nigerian manufacturers in the agricultural sector by way of loans/credit facilities at interest rates not exceeding 9% per annum and also granting FX to them at the CBN official rates. Erisco further claim that under the scheme, it enjoyed a facility of N500million through its bankers, Stanbic IBTC Bank, and it generated employment opportunities as it additionally employed hundreds of Nigerians.

In the normal course of its business and need for expansion, the plaintiff avers that funding from its own sources on 16th June, 2015 paid USD$460,000.00 to its foreign suppliers (Messrs Urumqi High Tech Development Zone Elite Trading Co. Ltd.) in China (being 50% of the total cost) for importation of tomato concentrate, the major raw material for its operations. The balance sum of USD$460,000.00 was to be paid by the company (Erisco) to the supplier before the supplier would ship the imported tomato concentrate to the plaintiff in Nigeria.

The tomato firm however, claimed that before it could pay the foreign suppliers the balance of USD$460,000.00, the CBN on 23rd June, 2015 by a circular banned 41 listed items as items that will no longer be valid for foreign exchange (“FX”). In otherwords, importer of the 41 listed items in the said circular of 23rd June, 2015 will have to independently source for FX to pay for such goods as the CBN will no longer sell FX for the importation of such goods at the official exchange rate of the Naira to the US Dollars. And amongst the 41 listed items was “tomatoes/tomato paste.

By this ban, Erisco avers that it could no longer access or obtain FX from the CBN through its bankers (STANBIC IBTC) for the purpose of its tomato business, particularly the importation of tomato concentrates which is the major raw material for its tomato processing lines.

READ MORE HERE: http://witnessngr.com/forex-deals-firm-drags-cbn-to-court-accuses-officials-of-bribery/

Mounir Gwarzo, director-general of the Securities and Exchange Commission (SEC), allegedly got a severance package of N104 million from the same commission shortly after he was named DG in 2015.

He was an executive commissioner at SEC when former President Goodluck Jonathan appointed him to lead the commission on May 22, 2015.

On assuming office as DG, he allegedly paid himself the hefty package as entitlement for being an executive commissioner for two and a half years.

In a petition to the house of representatives seen by TheCable, Gwarzo was said to have demanded a severance package entitled to a commissioner immediately he assumed office.

Despite the opposition mounted by the acting head of SEC legal department, Frana Chuwuogo, Gwarzo allegedly received over N104 million as benefits of his former position.

A document on one of the contracts

“On assumption of office as the DG of the Commission, Mr. Gwarzo immediately requested that the sum of N104,851,154.94 (One Hundred and Four Million, Eight Hundred and Fifty-One Thousand, One Hundred and Fifty-Four Naira and Ninety-Four Kobo), be paid to him as severance package for the cessation of his appointment as Executive Commissioner of the Commission,” the petition read.

READ MORE: http://witnessngr.com/sec-d-g-mounir-gwarzo-in-trouble-accused-of-fraud/

The Securities and Exchange Commission (SEC) has directed the Nigerian Stock Exchange to place the shares of Oando Plc on technical suspension.

A statement by the management of the commission on Wednesday said the company would be suspended due to several complaints against it by shareholders in the capital market.

Technical suspension is the interruption of price movement in listed shares for a specified period of time.

Once the security is suspended, shares of that security cannot be traded on the market until the suspension is lifted or lapses. The exact amount of time for the suspension will be determined on a case-by-case basis.

According to the statement, one Alhaji Dahiru Mangal and Ansbury Incorporated filed a case against Oando before the SEC.

It said the commission carried out a comprehensive review of the petitions and found out the company allegedly breached the provisions of the Investments & Securities Act 2007.

It alleged that Oando breached the SEC’s Code of Corporate Governance for Public Companies and was also guilty of suspected insider dealing.

READ MORE: http://witnessngr.com/sec-orders-nse-to-suspend-oandos-shares/

But Keystone Bank is back 100% I can confirm. I think the new management is on-top of their game to get things right. But dont also forget, if things must be right, there must be some changes...I guess that is what is happening now....Though, I'm not speaking for the bank ooo, I am just a customer. I will advice you make your findings about these allegations right before concluding. I have two accounts with the bank domiciled at its Ogba, Lagos branch and believe me, their services have improved tremendously.
Remember, "Great things never came from comfort zone".

A film Producer, Mr Lateef Onida and his company LAT -Larry Film Company whose film ‘Aroni Rogun Matidi’ was allegedly infringed by Multichoice Nigeria Limited has slammed N25 million suit on the Digital Satellites Television, DSTV.

In a statement of claim filed before a Federal High Court in Lagos, Southwest Nigeria by a Lagos lawyer, Olu Ogunmola, on behalf of the plaintiffs, it was alleged that, sometimes in 2011, the plaintiff engaged and signed a contract with a film marketing company to market his film titled “Aroni Rogun Matidi,’ which was registered with the Nigeria Copyright Commission and also submitted it to National Film and Video Censors Board and got their approvals.

The marketer was given the right of releasing the film only at the Idumota market in Lagos, and it was further agreed that the agreement shall not cover the right to exhibit the film at Cinemas, Television, Cable Network, or the selling of the film ‘s Porter by the marketer unless as may be agreed by the producer.

However, it was alleged that, Multichoice Nigeria Limited’s DSTV having had unlawful, illegal and unauthorized access to the Plaintiffs’ film aired the said film on the 27th day of July 2012 at about 5pm vide their Network Digital Statellite Television in a Caption Yoruba African Magic and the airing continued through the 30th July, 2012 in flagrant breach of the Plaintiff ‘s Copyright of the film Aroni Rogun Matidi.

READ MORE HERE: http://witnessngr.com/film-maker-drags-multichoice-dstv-to-court-over-unlawful-airing-of-movie/

Indigenous oil and gas operator, Seven Energy International Limited, may be for a rough time following its inability to fulfill payments on two senior secured notes issued by one of its subsidiaries Seven Energy Finance Limited.

The company blamed its inability to meet its debt obligations on the closure of the Forcados export terminal which lead to a loss of cash flow, and power stations that were yet to pay for gas it had supplied.

We gathered that the company had earlier in the year defaulted on a $445 million loan taken from a consortium of banks led by Ecobank, FCMB, and Union Bank in 2015 to provide working capital for Accugas, one of its subsidiaries.

READ MORE HERE: http://witnessngr.com/seven-energy-in-trouble-over-445-million-loan-default/

Controversy has continued to trail the appointment of a Deputy General Manager in Diamond Bank as a new Deputy Director of the Central Bank of Nigeria (CBN).

The lady at the center of the controversy, Aishah Ahmad was said to be a DGM in Diamond Bank before she was ‘hurriedly promoted’ as an Executive Director of the bank before her new appointment.

According to reliable informants, Aishah was a DGM in the bank on Tuesday 3rd October, 2017 and by the morning of Wednesday, 4th October she was quickly appointed as ED in the bank and immediately appointed as Deputy Governor of the CBN same Wednesday evening.

We were told that ordinarily the CBN only accepts from Executive Director (ED) cadre as Deputy Director.

It was alleged in some anonymous posts on the social media that Aishah’s promotion to the position of Executive Director at Diamond Bank Plc was rushed a few hours to the announcement of her name as the nominee to replace Sarah Alade, who retired from the bank as deputy-governor (economic policy) in March 2017.

The message read: “We have a new Deputy CBN Governor by name Aishah Ahmad. An erstwhile DGM (Deputy General Manager), she was appointed an ED (Executive Director) in Diamond Bank Wednesday evening and before the staff got home same Wednesday, they learnt of her appointment as CBN Deputy Governor. CBN typically accepts only Executive Directors for that position.”

Those who opposed her appointment as CBN Deputy Governor argued further that she was promoted overnight at CBN to meet this requirement and because she is just 40, it was also argued that she is too young for the coveted office.

Sources revealed that Aishah is close to senior players in the banking industry and that her elevation must have been influenced by some of the players.

READ MORE HERE: http://witnessngr.com/controversy-trail-appointment-of-aishah-ahmad-of-diamond-bank-as-cbn-deputy-gov/

The management of Sterling Bank Plc, Lagos has dragged its staff and a teller attached to its Wilmer Branch, Olodi-Apapa area of Lagos, Chidebe Henry Ikenna, 41, before a Lagos Magistrate Court for allegedly stealing the sum of N2 million entrusted in his care by the customers of the Bank to lodge in their accounts.

The accused, from Awka North Local Government Area of Anambra State, Southeast Nigeria was ordered arrested by the Divisional Police Officer, DPO in charge of Lion Building Division, CSP Folashade Tanaruno following a complaint by the management of Sterling Bank Plc through Mr Okonugha Sunday Evaristus in charge of security department.
Ikenna was arraigned before an Igbosere Magistrate Court on a one count charge of felony to wit, stealing.


READ MORE: witnessngr.com/sterling-bank-staff-in-court-for-stealing-customers-n2m/

The Chartered Institute of Bankers of Nigeria (CIBN) has certified and granted full accreditation status to the Keystone Bank Limited Training Academy in Lagos, in recognition of its compliance with regulatory standards and best practices.

The certification came at the end of a recent evaluation exercise carried out by the CIBN which is the sole accreditation agency under the Competency Framework for the country’s Banking and Finance Industry put in place by the Central Bank of Nigeria.

The Keystone Bank Training Academy is a full-fledged learning and development centre responsible for the continuous building of skills and the expansion of knowledge base of new and existing workers of the bank.

In the letter communicating the development, the institute commended the bank for its consistent efforts towards meeting high standards for the benefit of the banking industry and larger economy.

Part of the accreditation is the exemption of trainees who are successful at the Keystone Bank Entry Level from nine courses from a total of nineteen in the Chartered Institute of Bankers of Nigeria Professional Certification examination.

Commenting on the award, the Group Managing Director/CEO of Keystone Bank Limited, Mr. Obeahon Ohiwerei said, “We believe strongly in the need for continuous learning and self-improvement. Providing top-notch training is one way we groom and build our people to be more competent and vibrant, thereby launching the Bank to ground breaking achievements and performance overtime.”

“This of course will produce leading professional bankers who will lead not just the industry but the economy at large.”

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


READ MORE HERE: http://witnessngr.com/cibn-accredits-keystone-bank-training-academy/

A top chieftain of the All Progressive Congress, APC and former senator representing Imo West in the National Assembly, Senator Osita Izunaso is currently enmeshed in a battle of wits to grab an apartment in the Apo Legislative Quarters and evict its rightful owner.

Claiming to be executing the judgment of the court in his favour, reports have it that the national organizing secretary of the APC, forcefully gained access to the property and removed some of the owner/occupier, Mrs. Esther Jesulanke’s fittings and belongings. It is said that he flung out the old woman’s belongings outside the property thereby damaging the fittings and belongings of worth and value in spite of a pending suit at the FCT High Court challenging an earlier court judgment.

It was learnt that Senator Izunaso, who showed more than a passing interest in the property located at Block 20, Flat 3, Moses Adasu Close, Zone D before it was sold by the original owner, had earlier deposited a paltry five million naira for the property whose value then was about N35 million in 2013.

The then owner, Mrs Grace Inyang, who reportedly put up the property for sale with plans to buy a new property in her village where she planned to relocate after retirement, was said to have rejected the senator’s deposit even though it was paid through her counsel, Barrister Victor Okangbe, for the reason that the senator did not fulfill the condition precedent to ownership rights, which was payment of the total sum of N35, 000, 000.00 required for the release of the Deed of Mortgage on the said property with Aso Savings.

She consequently assigned the property to Taulahi Investment Nigeria Ltd represented by one Hon. Jega who sold it to the current owner/occupier, Mrs Esther Jesulanke who was certainly oblivious of the transaction between Mrs Inyang’s counsel and Senator Izunaso.

Mrs. Inyang declared that the five million naira paid by Senator Izunaso to Barrister Okangbe was received without her consent and she had transferred to money back to her counsel before empowering Taulahi Investment Nigeria Ltd to proceed with the sale of the apartment to a buyer who was willing to pay the complete amount.

Now, the buyer, Mrs Jesulanke is crying out that there have been attempts to eject her by hook or crook by Senator Osita Isunazo who alleged that by a judgment dated 13th October 2013, the court gave an order of specific performance of the contract of sale between him and Mrs. Grace Inyang. She said she was taken aback by the fact that a judgment of specific performance was awarded to enforce the said sale where Senator Osita purportedly paid a paltry deposit of N5, 000, 000.00 for a property as opposed to a part payment.

According to information, Mrs. Jesulanke’s assertion is that the transfer of the property from Mrs. Inyang to Taulahi Investment Nig. Ltd whom she derived her title from was first in time. In addition, she was a bona fide purchaser for value without any notice of any attempted sale or failed sale.

READ MORE HERE: http://theicon.ng/2017/09/25/apc-chieftain-sen-osita-izunaso-property-grabbing-mess/

In line with its goal to provide quality service to its customers, Keystone Bank Limited has introduced a new SMART number, for customer support.

Launched earlier this month, the smart number – 0700 2000 3000 Contact Centre eliminates the need for customers to remember multiple numbers while removing the uncertainty as to which of the lines are actively engaged.

Speaking on the development, the Group Managing Director/CEO, Mr. Obeahon Ohiwerei said, “The launch of our 0700 2000 3000 Contact Centre easily memorable number opens up the communication channel with the Bank. It’s is available 24 hours round the clock.

He further stated that, the new SMART number will improve customer service relationship as the number connects on a first dial, and allows multiple calls simultaneously.

“As a financial institution, the customer is at the core of our business and this novelty is in keeping with the brand values of service, professionalism and innovation which is an integral part of our ethos”.

“Sequel to the divestment of the bank earlier in the year, this is one of the many steps we are taking to engage with our customers effectively.

It is indeed a new beginning for Keystone Bank”. Ohiwerei stated.

READ MORE: http://witnessngr.com/keystone-bank-launches-new-service-number-for-customers/

Dear Esteemed Customer,

Following the successful conclusion of Asset Management Corporation of Nigeria’s (AMCON) divestment from Keystone Bank Limited and the hand-over to the Sigma Golf – Riverbank Consortium a few months ago, you were provided with series of updates leading to my assumption of office as Acting Managing Director/CEO effective 1st April, 2017.

As you may recall, I assumed this position under a transitional governance arrangement as a bridge between the erstwhile AMCON-appointed Board under which I served as an Executive Director, and the transition Board instituted by the new owners. This was to ensure continuity and stability pending the constitution of a substantive Board and Management for the Bank.

The transition has been very seamless with a number of positive developments over the period while appreciable progress has been made to have the full complement of the Bank's Board and Management, starting with the appointment of the substantive Managing Director/CEO.

I am happy to inform you that following regulatory approval which has just been obtained, Mr. Obeahon Ohiwerei will immediately assume office as the Bank’s substantive Managing Director/CEO. Within the interval between his appointment by the Board and the regulatory approval, we have been in close liaison to afford him the opportunity to understudy the Bank and the role.

Mr. Ohiwerei comes with significant experience having served in similar capacity in both domestic and transnational financial institutions, and will bring his wealth of experience to bear in his leadership as Managing Director/CEO of Keystone Bank.
This marks the end of my short but eventful tenure as Acting Managing Director/CEO under the transitional arrangement having accepted to stay back to lead the transition at a very crucial period. As I disengage from the services of the Bank, I humbly enjoin you to give Mr. Ohiwerei your full support and cooperation as was extended to me over the past few months, to ensure the divestment remains a success story.
Thank you for your business patronage and the confidence reposed in Keystone Bank.

Hafiz Bakare
Ag. Managing Director/CEO

-Slam bank with $45.1m suit
​

A firm, Topbrass Aviation Limited has slammed a $45.1 million suit on Diamond Bank Plc at the Federal High Court in Lagos over alleged breach of contractual agreement.
In the suit marked, FHC/L/CS/1488/2017, the aviation firm is seeking an order of the court for special damages in the sum of $19.250 million against the bank, representing its lost income from December 2014 till the date of filing the suit, owing to the bank’s unethical practices.
The firm is also seeking the sums of $25 million and $875,000 as special and exemplary damages against the bank for the several alleged outrageous and reprehensible breach of its banker’s duties to it.
The aviation firm in an amended statement of claim filed before the court through its lawyer, Mr. Fidelis Albert, said in the course of banking business with Diamond bank, it maintains three Dollars and two Naira denominated accounts with the bank.
The firm disclosed that sometimes in 2010, it bidded for and was awarded a multi-million dollar contract by Chevron Nigeria Limited (CNL), to provide aircraft charter and auxiliary aviation support services for the oil company.

It added that by the terms of the contract, it had the obligation to deploy two Bombardier Dash-8Q300 aircraft for the exclusive use and service of Chevron Nigeria Limited on an initial two-year charter.

According to the firm, the purchase price for the aircraft was $9.5 million while the cost of undertaking a comprehensive back-to-service maintenance on the aircraft before it could introduce the aircraft to its fleet for routine flights, was over $1 million.

On account of the prohibitive cost, Topbrass Aviation Limited said it was constrained to approach Diamond Bank, as its banker, for a loan to finance the purchase, maintenance and importation of the aircraft.
The firm stated further that in obtaining the credit facility, it entered into series of negotiations with Diamond bank, and after its proposal including the risk, cash flow projections, income stream on existing contract, potential incomes and commercial viability has been fastidiously assessed by the bank, and upon the conclusion of the negotiations, it was granted credit facility of $10.5 million.
The plaintiff further stated that sometimes in 2010, it entered into an Aircraft Maintenance and Service Provider (AMSP) agreement with an aircraft maintenance facility in South Africa known as Execujet Maintenance Property Limited.
The firm said pursuant to the AMSP agreement, it began servicing and/or maintaining its aircraft fleets with Execujet.

It added that the first aircraft, similarly, a Bombardier DHC-8-Q315 marked 5N-TBC and MSN 614, was delivered to Execujet for ‘C’ check sometimes in March 2013, for which Execujet completed the scheduled maintenance within a 10-week period at a total cost of about $650 million.
The plaintiff averred further that quite unknown to it, and while it was labouring to resolve payment issues with Execujet, Diamond Bank had sometimes in January 2015, surreptitiously circumvent it, and commenced clandestine discussions with the South Africa company with a view to retaining its services as its agent for the sale of the aircraft.

READ MORE HERE: http://witnessngr.com/aviation-firm-battles-diamond-bank-over-breach-of-contract/

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.

READ MORE HERE: http://witnessngr.com/wema-bank-in-n5-2bn-oil-deal-scandal/

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.

READ MORE: http://theicon.ng/2017/09/08/court-orders-stanbic-ibtc-bank-pay-n50bn-damages-false-report/

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.
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.


READ MORE HERE: http://witnessngr.com/court-orders-stanbic-ibtc-bank-to-pay-n50bn-as-damages-over-false-report/

Titilayo Adeyemo, 40, 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.

READ MORE HERE: http://witnessngr.com/ecobank-staff-steals-customers-n5-8m/

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.
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.

READ MORE HERE: http://witnessngr.com/court-orders-stanbic-ibtc-bank-to-pay-n50bn-as-damages-over-false-report/