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A Victory for Michael Prest

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A Victory for Michael Prest

A Victory for Michael Prest

 

 

 

 

 

In a landmark court ruling Honorable Justice Patrick Thompson Jr on Friday 10th February, handed down a ruling in favour of Michael Prest, which has sent seismic shock in the financial services industry in the Caribbean Island of Nevis. In Claim No: NEVHCV2021/0099, Justice Thompson awarded Prest an Order for certiorari quashing the decision of the Regulator of International Banking to issue the letter dated June 23rd 2021 seeking to restrict Prest and ordered that Prest was entitled to a declaration that the Regulator of International Banking had no authority to restrict the activities of Prest’s company, Petrodel. Thus Prest was successful in his claim for Judicial Review.

 

 

 

 

 

A Victory for Michael Prest

Prest, described by Businessweek as one of “The Rich Boys” , was a protégée of the late King of Oil, Marc Rich. He has had a home in Nevis since 1996. He is the owner of Bank of Nevis International Limited(“BONI”) and one of the largest employers of the small Idyllic Caribbean Island.

 

 

 

 

 

 

In June 2021, the Island’s Regulator Heidi Lynn Sutton and it’s Regulator of International Banking, Phil Jones sought to weaponize their position by serving Prest with a Cease & Desist Order and imposed fines on BONI. Lawyers for Prest argued that neither the Regulator and or Regulator of International Banking had such powers. They were acting with impunity.

 

 

 

 

 

 

“All power tends to corrupt; absolute power corrupts absolutely” – Lord Acton
An August 14 2021 article written about Prest reported “ You can tell that his brain is always working. Every action and everything that he says; every move is well thought out and well calibrated. He does more observing and listening than speaking. The toughest negotiator the oil industry produced. You go up against him, and when you think that he has backed off, is when he comes on like a ton of bricks. He grinds his opponents into submission. He goes quiet on you, behaving as though he has a hundred years to spare, then out of the blue, he attacks,”
It seems the Regulators may have missed that article.
People feel Prest felt had no choice but to stand up to Public Officers acting with impunity. A source says Prest feels the judgement is a victory for everyone who’s ever been set upon by a baying mob or pushed around but didn’t have the means to defend themselves.
Investors
Business and investment has a choice. If Public Officers decide not to follow the Rule of Law and or Due Process, it augurs very bad for small Islands states seeking international investors and investment. Investors want to feel that they are protected, that their investment is protected and there is respect for Due Process and the sanctity of commercial contracts entered into freely by consenting parties.
Fit & Proper
It remains unclear, in light of Honourable Justice Thompson Judgment, whether Miss Sutton or Mr Jones can retain their jobs. Can we be sure they can meet the standard benchmark of being fit & proper?
“They’ve clearly lost all credibility and I can’t imagine them going to international conferences to represent Nevis financial services sector without other banking professionals and service providers, calling them out” a source said. The decision on whether they stay, will be determined by Premier Mark Brantley. Whether they can represent what’s good in St Kitts & Nevis (and there is a lot) is a matter for new Prime Minister Dr Drew.

Prest and BONI were represented by Tim Prudhoe and Jackie Hunkins Taylor.

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Among His Peers, Oba Orin Saheed Osupa Stands Out : The Fuji Star’s Storytelling Legacy By Alhaji Arems

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Among His Peers, Oba Orin Saheed Osupa Stands Out : The Fuji Star's Storytelling Legacy By Alhaji Arems

Among His Peers, Oba Orin Saheed Osupa Stands Out : The Fuji Star’s Storytelling Legacy

By Alhaji Arems

 

In the vibrant world of Fuji music, where the artistry of storytelling and cultural commentary thrive, Saheed Osupa has carved out a unique role as both an artist and an influencer of thought. Recently, his name has been lighting up social media discussions and generating significant buzz—not just because of his music but because of the depth of his words. Osupa’s trending status is rooted in his ability to subtly address pressing issues, particularly those surrounding the ongoing tension between fellow Fuji musicians Taye Currency and Pasuma Wonder.

 

 

Osupa’s recent contributions to this situation have not been straightforward; rather, he has adopted an artistic approach, using parables and proverbs—sometimes through complex storytelling—to impart wisdom. These nuanced messages, often hidden within his lyrics, resonate with fans who appreciate the clever way he brings age-old Yoruba wisdom into contemporary issues. One notable example involves a story about an animal (traditionally symbolizing patience and resilience) that many believe reflects Osupa’s thoughts on rivalry and pride. Through this parable, he seems to suggest the importance of self-reflection and restraint, especially in the heat of conflict.

Among His Peers, Oba Orin Saheed Osupa Stands Out : The Fuji Star's Storytelling Legacy

By Alhaji Arems

In a genre that values not only musicality but also the power of words, Osupa has long been seen as a master of *itan*, or storytelling. His recent songs echo the traditional Yoruba way of imparting wisdom through tales that serve as lessons. This is a skill that few artists have mastered, making his approach particularly impactful in today’s fast-paced digital world, where nuanced messages can often be overlooked.

Beyond the Taye Currency-Pasuma Wonder issue, Osupa’s trending status is also due to his reputation as a voice of reason and maturity in Fuji music. As a genre that is often vibrant and full of competitive spirit, Fuji has its share of rivalries. Yet, Osupa has often stood out by promoting unity and peaceful dialogue among Fuji artists. By sharing these reflective stories in his music, he adds layers of meaning that fans continue to unpack and discuss, drawing new audiences who appreciate both the artistry and wisdom behind his words.

The charm of Saheed Osupa lies in his timeless approach. In a world where trends are fleeting, he reminds fans of the importance of timeless values, urging reflection, humility, and understanding. As fans interpret and share his latest stories, Osupa’s message continues to resonate widely—proof that, in Fuji, the power of words can be as influential as the beat of the drum.

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What You Need To Know About Award-Winning Nigerian Actor, Mustapha Sholagbade

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What You Need To Know About Award-Winning Nigerian Actor, Mustapha Sholagbade

What You Need To Know About Award-Winning Nigerian Actor, Mustapha Sholagbade

 

Mustapha Ololade Sholagbade, born on January 1, 1989, in Ebute Metta, Lagos, is an accomplished Nigerian actor, producer, and filmmaker with a deep passion for Yoruba cinema. Originally from Abeokuta, Ogun State, he is the first child in his family. Sholagbade began his education at Kadara Primary School and continued at Sojomen Talabi High School, Akute, and Nawairudeen Secondary School, Ebute Metta. He later earned an Ordinary Narional Diploma in Business Administration from the Lagos State Polytechnic. Pursuing his passion for acting, he trained at Odunfa Caucus, where he graduated in 2010.

Sholagbade launched his acting career in 2005, making a name for himself in Yoruba-language films. His portfolio includes roles in popular films like Olowo Ghetto, Alaimo, Ebun Mi, Esi, Gold and Treasure, Liam, Emilomo Babaolowo, Oko Aunty Mi, Broken Bond (Tude), and Last Born. In addition to acting, he has also produced several films, further cementing his influence in the industry.

Beyond the entertainment world, Sholagbade is a versatile professional with experience in railway engineering, IT support, and site management in the UK. He is also a farmer and general merchant, demonstrating his entrepreneurial spirit and diverse skill set.

Throughout his career, Sholagbade has collaborated with top figures in Yoruba cinema, such as Yinka Quadri, Taiwo “Ogogo” Hassan, Funke Akindele, Femi Adebayo, Odun Adekola, Oga Bello, Baba Wande, Jide Kosoko, Funsho Adeolu, Fathia William Balogun, Saidi Balogun, Wunmi Toriola, and Mide Martins.

Sholagbade’s hobbies include traveling, business, football, filmmaking, and meeting new people, reflecting his dynamic and outgoing personality.

Sholagbade’s talent and dedication to his craft have earned him numerous accolades, including: Best Actor Yoruba – BON Awards, 2024, Best Supporting Actor– Afro Nollywood Awards, UK, 2019, Best Supporting Actor– Heritage Awards, Atlanta, USA, Best Supporting Actor of the Year (Yoruba) – City People Movie Awards, Best New Actor of the Year (Yoruba) – City People Movie Awards.

With his achievements and versatility, Mustapha Ololade Sholagbade remains a notable force in the Nigerian film industry and a proud ambassador of Yoruba cinema worldwide.

What You Need To Know About Award-Winning Nigerian Actor, Mustapha Sholagbade

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Coalition Congratulates Oluyede on Appointment as Acting COAS

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Coalition Congratulates Oluyede on Appointment as Acting COAS

Coalition Congratulates Oluyede on Appointment as Acting COAS

 

The Coalition of Civil Society Groups against Terrorism in Nigeria has congratulated Major-General Olufemi Oluyede on his appointment as the acting Chief of Army Staff, (Ag COAS, Nigerian Army).

Coalition Congratulates Oluyede on Appointment as Acting COAS

The Convener of the Coalition, Comrade Oladimeji Odeyemi, in a statement, said General Oluyede has the responsibility to consolidate the success achieved by the Nigerian Army under General Taoreed Lagbaja.

President Bola Tinubu had on Wednesday, October 30, appointed Oluyede as acting COAS pending the return of the indisposed substantive Chief of Army Staff, General Taoreed Lagbaja.

The Coalition said his appointment is a welcome development. It said: “Major-General Olufemi Oluyede is well qualified for the position. He was a member of the 39th regular course and commissioned as an officer in 1987. Aged 56, he was promoted to the rank of Major-General in September 2020. A professional and top-notch security expert, he brings a lot of hope and inspiration to younger officers as acting chief of Army Staff.

“His appointment is the way to go. As the acting Chief of Army Staff, Oluyede has the responsibility to lead an army that will administratively manage the institution, consolidate on the success achieved by General Lagbaja and his team to mop up remnants of insurgents, bandits and the ragtag criminal elements in the North, and dismantle the ethnic militias in the Southeast to bring peace in the country.

“The 56-year-old Oluyede shares a long history with General Lagbaja, with a track record and excellent service to the nation. Both are members of the 39th Regular Course and were commissioned as officers in 1987.

“Oluyede’s meritorious career began as a Platoon commander and adjutant at 65 Battalion, advancing to Company commander at 177 Guards Battalion and later Staff Officer at the Guards Brigade and commandant of Amphibious Training School.

“Oluyede has been part of many notable operations, including the ECOMOG Mission in Liberia, Operation HARMONY IV in Bakassi, and Operation HADIN KAI in the Northeast, where he commanded the 27 Task Force Brigade.

“He has received honours, including the Corps Medal of Honour, and Grand Service Star, all recognition for passing the Staff Course and membership in the National Institute, and his dedication and achievements in service.”

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