Court blocks all Nduka Obaigbena banking transactions over $718m FBN debt - Newstrends
Connect with us

metro

Court blocks all Nduka Obaigbena banking transactions over $718m FBN debt

Published

on

Nduka Obaigbena

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.

READ ALSO:

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

Loading

metro

Clean Water, Greener Communities: Archbishop Martins Challenges Governments, Others

Published

on

Clean Water, Greener Communities: Archbishop Martins Challenges Governments, Others

 

The Archbishop of the Catholic Archdiocese of Lagos, Most Rev. Dr. Alfred Adewale Martins, has called on governments, industries, farmers, local authorities and other stakeholders to intensify efforts to protect the environment.

He specifically urged them to ensure access to clean water and promote responsible waste disposal.

Archbishop Martins made the call as Christians across the world commenced the 2026 Season of Creation, a period dedicated to prayer, reflection and action for the protection of the earth.

In his homily and special message marking the season, which runs from September 1 to October 4, the Archbishop urged governments to formulate and implement policies that would guarantee universal access to safe and nourishing food, while ensuring that the benefits of biodiversity are shared equitably.

He also called on churches, mosques and other stakeholders to support greening initiatives and encourage communities to grow their own food, while denouncing pollution in all its forms.

Martins further urged governments, industries, farmers and local authorities to protect water sources and demonstrate greater responsibility in the disposal of waste.

He said the 2026 Season of Creation, themed “Immersion in Living Water,” provides an opportunity for people to recognise creation as a gift from God and accept the responsibility of protecting it.

According to him, Christians across denominations are expected to use the period to deepen their commitment to ecological responsibility through prayer, reflection and concrete action.

“We must advocate for universal access to clean water and proper sanitation in our communities, homes, schools, health care facilities, churches, and mosques,” he said.

The Archbishop also stressed the importance of environmental education, urging parents, catechists, clerics and faith communities to promote education that combines scientific knowledge with ethics and spiritual formation.

He warned against the continued exploitation of nature for short-term gains, saying humanity must move from “mindless exploitation to care of the earth” and rethink its values, economic systems and priorities.

Martins said human wellbeing was inseparable from the health of the environment, noting that the flourishing of humanity was intertwined with the healing of creation.

“Becoming part of the river, let us all overcome our fears and step into the waters of God’s love. Let us become part of the river of transformation, bringing healing and renewal to creation, bringing hope and blessing to the earth, our common home,” he said.

He urged Nigerians and other people of goodwill to become responsible stewards of the environment by respecting their surroundings and accepting personal responsibility for sustaining the earth.

The Season of Creation coincides with the 2026 Jubilee Year of St. Francis of Assisi, the patron saint of ecology. The Jubilee runs from January 1, 2026 to January 2027, while the Season of Creation ends on October 4, the feast day of St. Francis.

The Archbishop also referenced the environmental teachings of the late Pope Francis in Laudato Si’, particularly its emphasis on the inseparable relationship between the “cry of the earth” and the “cry of the poor.”

Pope Leo XIV, in his own message, similarly urged Catholics and people of goodwill to draw inspiration from St. Francis’ commitment to peace, humility, poverty and care for creation.

The 2026 Season of Creation, now in its fifth edition, is therefore expected to galvanise Christians and other stakeholders worldwide towards greater environmental responsibility and action.

Loading

Continue Reading

metro

Two Teenagers Drown in Kaduna as Heavy Flooding Submerges Communities

Published

on

Two Teenagers Drown in Kaduna as Heavy Flooding Submerges Communities

Two Teenagers Drown in Kaduna as Heavy Flooding Submerges Communities

NEMA and KADSEMA intensify assessment and search operations after torrential rainfall triggers flash floods across Kaduna metropolis

Two teenagers have tragically lost their lives after drowning in a river at Askplaye community in Kaduna State following days of torrential rainfall that triggered widespread flooding across parts of the metropolis. The victims have been identified as Abubakar Mohammed, 17, and Suleiman Yakubu, 19, whose bodies remain unrecovered as of Monday.

The National Emergency Management Agency (NEMA) confirmed the incident, stating that its North-West Operations Office, in collaboration with the Kaduna State Emergency Management Agency (KADSEMA) and other stakeholders, has continued to assess the flood situation following heavy downpour that lasted approximately four consecutive days, from Thursday to Monday, across parts of Kaduna metropolis. NEMA reported that the torrential rainfall caused flash floods in some communities, submerging roads and temporarily trapping some residents inside their homes. The flooding also disrupted movement across affected areas, forcing residents to navigate through flooded routes with extreme caution.

READ ALSO:

The Head of Operations for NEMA’s North-West Office, Hajia Halima Suleiman, led an assessment team to communities impacted by the flooding to ascertain the extent and impact of the floodwaters. During the assessment, Suleiman visited the bereaved family of Yakubu to express the agency’s condolences and offer support following the teenager’s death. NEMA assured that it would continue monitoring the situation in partnership with KADSEMA and other emergency responders to assess the needs of affected communities and facilitate an appropriate response.

The tragic incident comes amid heightened flood risk across Kaduna State, with emergency agencies repeatedly warning residents against crossing flooded rivers, streams or drainage channels during the rainy season. In recent weeks, emergency response agencies have launched evacuation and rescue operations following flash floods that affected Asikolaye and the Federal Polytechnic, Tudun Wada, in Kaduna North Local Government Area. Officials have attributed the severity of flooding in parts of the metropolis to indiscriminate disposal of waste, which has clogged drainage channels and restricted the free flow of stormwater. The Kaduna State Fire Service has called for stronger public enlightenment on proper waste disposal, regular desilting of drainage channels, and stricter enforcement against indiscriminate dumping of refuse to reduce the risk of flash floods.

In a related development, the Niger State Emergency Management Agency raised alarm in August over reported structural distress and visible cracks at the Kangimi Dam in Igabi Local Government Area of Kaduna State, warning that any major failure could pose serious flood risks to downstream communities in Kaduna, Niger, and the Federal Capital Territory. The agency called for urgent technical assessment and preventive measures to avert a potential disaster. KADSEMA has intensified community-based flood preparedness initiatives in partnership with development organisations, conducting simulation exercises in flood-prone communities to help residents recognise early warning signs and organise evacuations.

Two Teenagers Drown in Kaduna as Heavy Flooding Submerges Communities

Loading

Continue Reading

metro

Lagos Businesswoman Stabbed to Death by Her Security Guard Just Two Weeks After Employment

Published

on

Lagos Businesswoman Stabbed to Death by Her Security Guard Just Two Weeks After Employment
Tanko Abdulateef and Mabel Mba Okafor

Lagos Businesswoman Stabbed to Death by Her Security Guard Just Two Weeks After Employment

The suspect, 22-year-old Tanko Abdulateef, fled to Taraba State with stolen valuables but was tracked down and arrested by police

In a tragic case that has sparked outrage across Lagos, a 50-year-old businesswoman and Bureau De Change operator, Mabel Mba Okafor, was brutally murdered in her Victoria Garden City (VGC) home by her newly employed security guard, Tanko Abdulateef. The suspect had been on the job for less than two weeks when he committed the heinous act. The incident occurred on August 17, 2016, at approximately 7:30 p.m. at the victim’s residence located at House J68B, Close 9, Victoria Garden City, Ajah, Lagos.

According to Abdulateef’s confession to the police, the fatal sequence began when Okafor returned home around 8:30 p.m. and instructed him to trim overgrown flower branches on the property. The suspect claimed that a “spirit passed through” him as she opened her door, and he attacked her with a knife he was holding to prepare his dinner. He stabbed her four times in the stomach, reportedly using both a knife and scissors he had used for gardening. As the victim lay bleeding on the floor, she called out his name repeatedly: “Abdul, Abdul.” The suspect responded by saying, “Sorry Ma,” before straightening her legs and leaving her body in the sitting room. In a chilling detail, Abdulateef admitted to switching on the air conditioner to blow directly at her body—a move he claimed was motivated by pity, but which investigators believe was a calculated attempt to slow decomposition and buy himself time to escape.

When neighbours heard Okafor’s screams and came to investigate, Abdulateef dismissed their concerns by claiming his employer was simply “afraid of cockroaches” —an explanation that temporarily satisfied the curious neighbours, who returned to their homes. The suspect then ransacked Okafor’s room, stealing three mobile phones, ₦10,000 in cash, trinkets, and several items of clothing before fleeing Lagos for his hometown in Bali, Taraba State.

READ ALSO:

Okafor’s body was discovered on August 19, 2016, when concerned members of her church, The Redeemed Evangelical Mission, became worried after she failed to attend scheduled meetings. An associate pastor, Jude Edeh, who had known the deceased for ten years, went to her office at Ikota Shopping Complex where staff informed him she had not been seen for two days. He then proceeded to her VGC residence with some of her staff. Upon arrival, an estate security supervisor noticed water dripping from the air conditioning panel outside. Peeping through an opening, he discovered Okafor’s body lying on the floor of the sitting room. The front door was unlocked, and the team gained entry through the kitchen.

The Lagos State Commissioner of Police, Fatai Owoseni, tasked the Rapid Response Squad (RRS) Decoy Team with tracking down the fleeing suspect. The police team traced Abdulateef to Bali, Taraba State, where they spent approximately three days before successfully locating and arresting him on August 27, 2016. The Police Public Relations Officer, Dolapo Badmos, confirmed that the stolen items—three phones, trinkets, and the victim’s clothes—were recovered from the suspect. Badmos issued a stern warning to criminals, stating: “There is no escape route for criminals in Lagos State. Any crime committed in Lagos will be unravelled. If you commit a crime in Lagos and run to anywhere in Nigeria, the police in Lagos will come after you.”

Paraded before journalists at the Lagos State Police Command headquarters in Ikeja, Abdulateef expressed remorse and claimed to have no rational motive for the killing. He stated: “I don’t know why I killed her. Something just came upon me… I had not yet stayed up to a month when the incident happened. She agreed to pay me N18,000 at the end of the month.” The suspect had been employed just two weeks prior through a mutual acquaintance who connected him with the victim after her previous security guard left.

Abdulateef was charged with murder at an Ebute Meta Chief Magistrates’ Court, which remanded him in Ikoyi Prisons pending legal advice from the Department of Public Prosecution (DPP). The prosecution alleged the offence contravened Section 221 of the Criminal Law of Lagos State, 2011, which carries a death sentence penalty. In March 2022, the case proceeded to a Lagos High Court sitting at Tafawa Balewa Square, where prosecution witness Jude Edeh testified about discovering the body. The defendant pleaded not guilty to the charge.

Lagos Businesswoman Stabbed to Death by Her Security Guard Just Two Weeks After Employment

Loading

Continue Reading

Trending