Repatriation of $8,1bn: Court fixes  Dec. 4, for hearing of MTN’s suit against FG, CBN 

A Federal High Court, Lagos, today, October 30 fixed November 4, 2018, for hearing of the preliminary objection filed by the Central Bank of Nigeria (CBN) and other pending applications in a suit filed by MTN Communications Limited against the apex bank and Attorney-General of the Federation (AGF) over the illegal remittance of $8,134,312,397.63 .        At the resumed hearing of the matter today, Chief Wole Olanipekun (SAN), leading four other Senior Advocates of Nigeria for MTN, informed the court that CBN has filed its defence and counter…

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Unpaid debt: Court orders Shebah Coy, Chairman, Orjiako to pay 3 banks $144.2m

In an effort to ensure that judgments delivered by High Court of Justice Queen’s Bench division, a United Kingdom’s Court, upheld by Supreme Court of United Kingdom, ordering  Shebah Exploration & Production Company Limited, Allenne Limited and Dr. Ambrosie Bryant Chukwueloka Orjiako (defendants) to pay three banks the sum of $144.2 million being the outstanding and accrued interest of a facility granted to the defendants since 2011, the Lagos division of Federal High Court, has certified the judgment The three banks to benefit from the said UK’s court judgments are: African Export-Import Bank, Diamond Bank…

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EFCC arraigns three INEC officials over alleged N179.8m fraud

The Economic ad Financial Crimes Commissione (EFCC), on Monday July 30, arraigned three staff of Independent National Electoral Commission (INEC) before a Federal High Court. Lagos, on alleged fraud of N179. 8 million. The three accused who are from Ogun State INEC office are: Yemi Akinwonmi, Dickson Atiba and Ogunmodede Oladayo. They were arraigned before Justice Sule Hassan led-court on an eight count-charge bordering on conspiracy, but befitting from proceeds of crime, receiving various cash sums without going through financial institutions and accepting various cash sums exceeding amount authorized by…

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