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Court blocks all Nduka Obaigbena banking transactions over $718m FBN debt
Court blocks all Nduka Obaigbena banking transactions over $718m FBN debt
The Lagos Division of the Federal High Court has ordered all banks operating in Nigeria to blacklist media executive Nduka Obaigbena and members of his family over alleged debt to First Bank of Nigeria.
The December 30, 2024, Mareva order also sought to prevent Mr Obaigbena from moving any assets linked to him from the jurisdiction of the Federal High Court. First Bank had filed a debt-recovery suit against Mr Obaigbena and his family members, including Efe Damilola Obaigbena and Olabisi Eka Obaigbena, saying they used their oil servicing firm General Hydrocarbons Limited to assume debt of about $718 million.
At least $225 million had been frozen in bank accounts run by the Obaigbenas as part of the order, which was issued by Justice Deinde Dipeolu in suit FHC/L/CS/2378/2024.
The judge also said all banks licensed to do business in Nigeria should immediately seize all financial transactions to the Obaigbenas and laundry of businesses linked to them.
Mr Obaigbena did not return a request seeking comments about the order on Thursday evening.
But a source close to the THISDAY and Arise TV boss shared a letter from his lawyers with Peoples Gazette, which narrated how the issue began and why First Bank executives are at risk of contempt of court.
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In the January 9, 2025, letter from their lawyers Abiodun Layonu & Co., the Obaigbenas argued that First Bank was trying to force them to take responsibility for up to $718 million in delinquent loans against Atlantic Energy.
The lawyers warned First Bank of “grave legal implications” for going to another judge to obtain the Mareva order when a separate federal judge already had a previous injunction prohibiting any actions against the Obaigbenas over the dispute.
The lawyers cited a December 12, 2024, judgement by Justice Lewis Allagoa of the Lagos Division of the Federal High Court, which “unequivocally and emphatically restrained First Bank from taking any steps whatsoever to enforce any security, receivables, instrument, financial documents or assets of our clients pending the hearing and determination of the ongoing arbitration proceeding between our client and the FBN.”
The firm said First Bank knew of the judgment before approaching another judge for an ex-parte order without disclosing the prior judgment, which they suggested was unethical and illegal.
A spokesman for First Bank and chairman Femi Otedola did not immediately return a request seeking comments from The Gazette about whether or not they’ve received the letter from lawyers to the Obaigbenas.
In a separate petition to CBN Governor Yemi Cardoso last year, Mr Obaigbena said he helped save First Bank from imminent collapse in 2021 when he used the resources from OML 120 oil block he secured under President Muhammadu Buhari to elevate the company’s fortunes from declaring N161 billion loss to announcing N151 billion in profits for the year ended December 31, 2021.
“We have been left with no choice but to go to court and arbitration to preserve our fundamental rights and our rights under the agreements in the face of FBN’s attempts to clubber and bully us out of existence,” Mr Obaigbena said in the November 7, 2024, complaint.
Court blocks all Nduka Obaigbena banking transactions over $718m FBN debt
metro
Makinde okays Owoade as new Alaafin of Oyo
Makinde okays Owoade as new Alaafin of Oyo
Governor Seyi Makinde of Oyo State has approved the appointment of Prince Abimbola Owoade as the new Alaafin of Oyo.
The state Commissioner for Information and Orientation, Prince Dotun Oyelade, announced this in a statement on Friday.
The statement said Owoade was chosen after extensive consultations and traditional divinations conducted by the Oyo kingmakers, the Oyomesi.
“Prince Abimbola Akeem Owoade, after thorough consultations and divinations, has been recommended by the Oyomesi and approved by Governor Seyi Makinde as the new Alaafin of Oyo,” the statement read.
The Commissioner for Local Government and Chieftaincy Affairs, Ademola Ojo, said the announcement had ended the legal and social disputes that followed the passing of the former Alaafin, Oba Lamidi Adeyemi III, who died on April 22, 2022.
“This decision has put to rest all the socio-legal controversies that have arisen since the transition of the late Oba Adeyemi.
“We urge the people of Oyo State to support the new Alaafin and join the government in celebrating this historic moment,” Ojo said.
metro
Court Order: Okiro withdraws from Ohanaeze Ndigbo election
Court Order: Okiro withdraws from Ohanaeze Ndigbo election
The former Inspector General of Police, Sir Mike Okiro, has withdrawn from the Ohanaeze Ndigbo presidential race, following a court order served on him this night.
“I will not participate in any election pending the final determination of the matter pending before Hon Justice N. R. Oji of Enugu State High Court, which court gave the restraining order.
“Although I’ve not been formally served with the suit/processes or order, my commitment to law and order remains unwavering, despite the fact that the reliefs granted in the order against me appears to undermine my fundamental right guaranteed in Chapter IV of the 1999 Constitution (as amended),” Okiro at press briefing last night.
“My dear brothers and sisters, I, Sir Mike Okiro CFR, President-General candidate for Ohanaeze Ndigbo election slated for 10th January 2025 (tomorrow) address you today with unwavering resolve.
“I have been made aware of the Enugu State High Court’s interim order, which regrettably restrains me from contesting the Ohanaeze Ndigbo Worldwide Presidency General Election tomorrow.
“The court order, based on alleged non-indigene status, contradicts verifiable facts. It is unfortunate that the court did not invite me or heard from me before giving that obnoxious order, which I got from the media.
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‘I’m from Rivers’
“The facts are (a) That I hail from Egbema in Rivers State as shown by my National Population Commission Attestation of Birth. (b) My Traditional Ruler, the Nzeobi of Egbema, has also confirmed my indigene status of Rivers State. (c) I have written many books where my indigeneship of Rivers State is shown in the author’s column.
“A good example is my best seller, titled: “Nigeria: The Restructuring ‘Controversy”. (d) Page 6 of my biography written by Mr. Dozie Okebalama also shows my indigeneship of Rivers. (e) I have attended many Imeobi meetings where I represented Rivers State in the attendance list compiled by the Secretary-General. (f) As a student in the University of Ibadan, I was a member of the Rivers State Students’ Association, where I was elected as Treasurer, and another Great UIte, now distinguished Senator Andrew Uchendu was elected as Secretary. (g) I was representing Rivers State during the meetings of the South-South People’s Assembly under our respected leader, Chief Edwin Clark, where Prof. Pat Utomi, another Great Nigerian, represented Delta State.
“My records and credentials speak for themselves.
Court Order: Okiro withdraws from Ohanaeze Ndigbo election
metro
Nine dead, 21 injured in Katsina road crash
Nine dead, 21 injured in Katsina road crash
The Federal Road Safety Corps (FRSC) has confirmed nine people dead and 21 others injured in a road crash in Dankama, Kaita Local Government Area of Katsina.
This is contained in a statement issued by the Sector Commander, Mr. Aliyu Ma’aji, through the Command’s Public Relations Officer, Shamsudeen Babajo, on Thursday in Katsina.
He said that the incident occurred when a trailer carrying cows and humans on top, separated from the main body and fell on a pavement.
According to him, the trailer driver was trying to prevent crushing a woman that fell from the top of a Golf car overloaded with beans.
The Commander revealed that the trailer driver, while trying to avoid crushing the woman, lost control of the vehicle and caused the trailer to separate from the main body.
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He said that nine people lost their lives, while 21 others got varying degrees of injury.
Ma’aji said that the injured passengers were rushed to the Primary Healthcare Center, Kaita, for medical attention.
He stated that some victims were referred to Katsina General Hospital and the Federal Teaching Hospital, Katsina, due to the nature of their injury.
The Sector Commander, therefore, warned drivers to desist from carrying animals with passengers because of the danger associated with the ugly practice.
He also urged passengers to always speak up against overloading and dangerous driving as part of measures to reduce road accidents on the highways.
Nine dead, 21 injured in Katsina road crash
(NAN)
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