News
Appeal court nullifies sale of Intercontinental Hotel to 11Plc
The sale of Intercontinental Hotel in Lagos to 11Plc by Polaris Bank and Asset Management Corporation of Nigeria, (AMCON) has been nullified by the Court of Appeal.
The appeal court sitting in Lagos also ordered a return of the facility to the original owner, the Milan Industries Ltd.
The decision was taken in a unanimous judgment delivered by three Justices of the Appeal Court: Jimi Olukayode Bada, who read the lead judgment; Muhammad Ibrahim Sirajo and Peter Oyinkenimiemi Affen.
The appellate court ruled that Milan Industries Ltd had fully paid the bank the N2 billion mortgage facility it secured from Polaris Bank before the hotel was taken over and sold by AMCON and the bank.
The bank, which was then known as Skye Bank, had put the management of the five-star hotel under the receivership of Mr Kunle Ogunba, an arrangement that was nullified by a Federal High Court in Lagos.
Despite this, the bank went ahead and sold the hotel to another company, 11 PLC, a move that was challenged at the Appeal Court by the lawyers to Milan Industries Ltd, Messrs Ahmed Raji SAN and Tunde Kasunmu of Prof A.B Kasunmu SAN chambers.
Milan Industries Ltd had taken a facility from Skye Bank to part finance the five-star hotel located in Victoria Island, Lagos and managed by IHG.
The Milan Group had up till 2021 to pay back the facility. But in a curious move, the bank obtained an interim order to take over the management of the hotel, an order that was vacated when the suit was struck out by the court on March 20, 2018.
According to the Certified True Copy of the judgment signed and released on Wednesday by the Senior Registrar of the court, A. G. Balogun, the appellate court held that the two issues Milan Industries as Appellant/Cross Respondent was contesting were resolved in its favour.
According to the lead judgment by Justice Jimi Bada, “With the resolution of Issues No. 1 and 2 in favour of the Cross Respondent and against the Cross Appellants (Polaris Bank, AMCON and 11 Plc), it is my view that this cross appeal lacks merit and it is hereby dismissed.”
While agreeing with the lead judgment, another member of the appeal court panel, Justice Ibrahim Sirajo, stated, “The appellant insisted that it had paid over two billion Naira in liquidating the facility and that as at the time the 1st respondent (Polaris Bank) entered into agreement to sell the appellant’s secured asset to the 2nd respondent (AMCON), there was no collateral and secured asset to sell to the 2nd respondent.
It was also the case of the appellant that at the time the 2nd respondent sold the appellant’s Intercontinental Hotel to the 3rd respondent, the appellant had discharged its obligation under the legal mortgage by paying the amount secured by the property.”
Justice Sirajo ruled, “I adopt his lordship’s reasoning and conclusion in the leading judgment as mine in also allowing the appeal.
“I abide by all the orders made in the lead judgment including that of the costs.”
While also concurring with the lead judgment by Justice Bada, the third member of the appeal panel, Justice Peter Affen said, “The judicial reasoning and conclusions reached on the issues raised accord with mine, and I hereby affirm my agreement with the leading judgment which allowed the main appeal and dismissed the cross appeal. I equally abide by the orders on the costs.”
![]()
News
Tinubu Nominates Tegbe as Minister of Power, Seeks Senate Confirmation
Tinubu Nominates Tegbe as Minister of Power, Seeks Senate Confirmation
President Bola Ahmed Tinubu has nominated Mr Joseph Olasunkanmi Tegbe as the new Minister of Power, subject to confirmation by the Senate.
The nomination, contained in a State House press release issued on Thursday, has been formally transmitted to the National Assembly in line with constitutional provisions requiring legislative screening and approval of ministerial appointments.
Mr Tegbe’s nomination follows the resignation of the former Minister of Power, Adebayo Adelabu, who stepped down from office to pursue elective political ambitions.
According to the Presidency, the nominee is a seasoned fiscal and economic reform expert with more than 35 years of experience across both public and private sectors. He previously served as Senior Partner and Head of Advisory Services at KPMG Africa, where he led major initiatives in fiscal policy reform, institutional restructuring, and governance.
The statement also highlighted Tegbe’s advisory roles to key government institutions and private sector organisations, particularly in the areas of regulatory frameworks, strategic reforms, and investment structuring.
Currently, Tegbe serves as Director General and Global Liaison for the Nigeria-China Strategic Partnership (NCSP), where he oversees efforts to deepen development cooperation between Nigeria and the People’s Republic of China. His role includes coordinating engagements with public sector stakeholders to advance economic and social development objectives aligned with the Forum on China-Africa Cooperation (FOCAC).
In the power sector, Tegbe is said to have participated in several reform-driven engagements involving agencies such as the Nigerian Electricity Regulatory Commission (NERC) and the Nigerian Bulk Electricity Trading Company (NBET), focusing on regulatory and institutional improvements.
The Presidency expressed confidence that, if confirmed, Tegbe would strengthen ongoing efforts to reform Nigeria’s power sector, improve grid stability, and attract sustainable investment in line with the administration’s Renewed Hope Agenda.
President Tinubu also urged the minister-designate to deploy his extensive expertise toward delivering measurable improvements in electricity supply and overall sector performance for Nigerians.
Tinubu Nominates Tegbe as Minister of Power, Seeks Senate Confirmation
![]()
News
Tinubu Orders Crackdown on Plateau Killers, Approves ₦2bn Relief Package
Tinubu Orders Crackdown on Plateau Killers, Approves ₦2bn Relief Package
President Bola Tinubu has pledged to deploy the full instruments of federal authority against individuals and groups responsible for the recurring violence in Plateau State, warning that those identified as instigators or sponsors of unrest will face decisive government action.
The President made the declaration on Tuesday evening during a high-level meeting with Plateau State leaders and stakeholders at the Presidential Villa in Abuja, where he also approved a ₦2 billion humanitarian relief package for victims of the March 29 attack in Angwan Rukuba, Jos North Local Government Area.
The meeting, which lasted several hours and ended around 8 p.m., brought together Governor Caleb Mutfwang, all living former governors of Plateau State, traditional rulers, religious leaders, and political stakeholders, including the APC National Chairman, Prof. Nentawe Yilwatda.
According to the Presidency, Tinubu told the delegation that his administration would no longer tolerate cycles of violence, urging leaders in the state to take responsibility in identifying those fueling conflict.
“No protocols, no obstacles; we are here to speak our minds and find a permanent solution to a recurring conflict and chaos,” the President said.
He stressed that tolerance, unity, and accountability among leaders were essential to ending decades of recurring communal clashes in the state.
Tinubu also issued a strong directive to state authorities to identify individuals allegedly responsible for instigating violence, warning that they would face firm government action.
READ ALSO:
- Tinubu Appoints Bianca Ojukwu as Minister of Foreign Affairs
- Ronaldo Fires Al Nassr to Crucial Win Over Al Ahli
- How Nigerian Army Uncovered Alleged Plot to Overthrow Tinubu
“If you identify and you know the names of troublemakers, agents provocateurs who want to continue killing or instigate killing, let us know. We will use the instrument of office to deal with them,” he warned.
The President added that anyone found to be recruiting or inciting violence would face the full weight of federal power.
He further called for fairness, justice, and ethnic inclusiveness in governance, insisting that peace-building efforts must be rooted in equity and mutual respect among communities.
At the meeting, the Federal Government approved ₦2 billion in humanitarian assistance for victims of the March 29 attack in Angwan Rukuba, where over 27 people were reportedly killed in a violent assault on returning worshippers.
The funds, according to officials, will be used to support displaced families, rebuild damaged property, and provide emergency relief to affected communities through the Ministry of Humanitarian Affairs and Poverty Reduction.
The approval follows Tinubu’s earlier promise during his visit to Jos on April 2, shortly after the incident.
Tinubu reiterated his support for the establishment of state police, describing it as a necessary reform to address Plateau’s persistent security challenges.
He urged federal lawmakers present at the meeting to work toward constitutional backing for decentralized policing, arguing that local security structures would improve response times and enforcement.
The President also directed the newly constituted Plateau peace committee—made up of all living former governors of the state—to review existing white papers on past conflict resolutions and present consolidated recommendations.
He encouraged flexibility in restructuring previous peace frameworks, stressing that ineffective committees should be dissolved or merged for better results.
“Forget those committees you mentioned to me; if it’s not working, it’s not working. Consider this group as the committee until we find a lasting solution,” he said.
The Gbong Gwom Jos, Da Jacob Gyang Buba, urged the Federal Government to strengthen security deployments in the state, noting that existing forces were overstretched and required better equipment and manpower.
He also reiterated the need for the promised installation of thousands of AI-enabled surveillance cameras across Plateau State to enhance monitoring and early warning systems.
Governor Caleb Mutfwang described the meeting as historic, noting that it was the first time all living former governors of Plateau State were gathered together in a unified peace initiative.
He pledged full cooperation with the Federal Government’s peace efforts and emphasized the need to rebuild trust across ethnic and religious divides.
Former Deputy Speaker Idris Wase also highlighted drug abuse as a growing driver of insecurity in the state, calling for stronger enforcement measures.
Tinubu concluded the meeting by urging stakeholders to prioritize unity, warning that continued violence would only deepen poverty and instability in the region.
He also proposed expanded inclusion of non-indigenous communities in governance structures as part of broader reconciliation efforts.
The President reaffirmed that his administration is committed to ending violence in Plateau State and across Nigeria, stressing that peace and stability remain central to national development.
Tinubu Orders Crackdown on Plateau Killers, Approves ₦2bn Relief Package
![]()
News
Tinubu Appoints Bianca Ojukwu as Minister of Foreign Affairs
Tinubu Appoints Bianca Ojukwu as Minister of Foreign Affairs
President Bola Tinubu has appointed Ambassador Bianca Odumegwu-Ojukwu as Nigeria’s new Minister of Foreign Affairs following the resignation of Ambassador Yusuf Tuggar, who reportedly stepped down to pursue political ambitions ahead of the 2027 elections.
The appointment places Ojukwu in charge of Nigeria’s external relations, diplomatic engagements, and international partnerships at a time the administration is intensifying efforts to reposition the country’s global image and strengthen economic diplomacy.
Until her latest appointment, Bianca Odumegwu-Ojukwu served as Minister of State for Foreign Affairs, where she was involved in Nigeria’s diplomatic outreach and regional engagement programmes.
Her elevation to the substantive ministerial role is seen as a continuation of her work within the foreign affairs ministry and a move to ensure continuity in Nigeria’s diplomatic policy direction.
In a related development, President Tinubu also nominated Ambassador Sola Enikanolaiye as Minister of State for Foreign Affairs, pending confirmation by the Senate.
READ ALSO:
- Ronaldo Fires Al Nassr to Crucial Win Over Al Ahli
- How Nigerian Army Uncovered Alleged Plot to Overthrow Tinubu
- FG Declares Friday Public Holiday for 2026 Workers’ Day Celebration
- Trump Triggers Global Reactions After Calling Strait of Hormuz ‘Strait of Trump’
Enikanolaiye, who hails from Kogi State, previously served as Senior Special Assistant to the President on Foreign Affairs and International Relations. He is a career diplomat with over 30 years of experience in Nigeria’s foreign service.
His extensive diplomatic background includes serving as Permanent Secretary in the Ministry of Foreign Affairs, as well as postings in several Nigerian missions abroad, including Addis Ababa, Belgrade, Ottawa, London, and New Delhi.
The Presidency said the appointments are part of broader efforts to strengthen Nigeria’s foreign policy architecture, improve coordination in international engagements, and expand economic and strategic partnerships across key global regions.
President Tinubu congratulated both appointees and urged them to prioritise national interest, enhance economic diplomacy, support regional stability, and ensure the protection of Nigerians in the diaspora.
He further emphasised the need for a more proactive foreign policy approach that aligns with Nigeria’s economic growth agenda and global competitiveness objectives.
The Ministry of Foreign Affairs remains central to Nigeria’s international relations, overseeing bilateral and multilateral engagements, consular services, and diplomatic missions worldwide.
Political analysts say the reshuffle signals a renewed focus by the Tinubu administration on strengthening diplomatic leadership and expanding Nigeria’s influence in global affairs.
Tinubu Appoints Bianca Ojukwu as Minister of Foreign Affairs
![]()
-
News3 days agoMURIC Condemns Rape of 11-Year-Old Hijab Girl in Ogun, Warns Against Cover-Up
-
metro1 day ago“I Can’t Eat or Sleep”: Sisialagbo Cries Out, Begs For Forgiveness Over Leaked Video
-
metro2 days agoPolice Officer Arrested After Shooting Handcuffed Suspect Dead in Viral Video
-
metro6 hours agoViral Threesome Video: Sisi Alagbo’s Husband Accepts Responsibility, Seeks Forgiveness
-
Politics2 days agoBREAKING: APC Chieftain Osifo Enters 2027 Race, Buys ₦100m Form to Challenge Tinubu
-
Politics1 day agoBREAKING: Court Bars INEC from Recognising Mark-Led ADC Congresses
-
metro1 day agoASP Nuhu: Viral Delta Police Shooting Raises Questions Over Officer’s Past
-
Politics2 days ago“Hamzat Is Scared of Primaries” — Lagos APC Aspirant Rejects Consensus Plan


