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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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Inside the Success of Yoruba Cinema’s Biggest Stars

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Inside the Success of Yoruba Cinema’s Biggest Stars

King of the Screen: Why Odunlade, Muyiwa, Femi Adebayo Remain Yoruba Movie Giants

 

The Yoruba movie industry has continued to produce legendary talents whose influence stretches beyond Nigeria to global audiences. Over the years, some actors have distinguished themselves through consistency, versatility, box office success, and cultural impact.

 

Among the numerous stars in Nollywood’s Yoruba sector, three actors have remained dominant figures whose names constantly resonate with fans and filmmakers alike — Odunlade Adekola, Muyiwa Ademola, and Femi Adebayo.

Inside the Success of Yoruba Cinema’s Biggest Stars

Odunlade Adekola: The Street King of Yoruba Cinema

 

Popularly regarded as one of the most entertaining actors in Nollywood, Odunlade Adekola has built a unique reputation through his energetic delivery, comic timing, emotional depth, and strong connection with grassroots audiences.

From comedy to action and emotional family dramas, the actor has consistently proven his versatility in blockbuster productions. His ability to interpret diverse roles effortlessly has made him a household name across Nigeria.

Industry observers believe his dominance on social media platforms, where his movie clips frequently go viral, has further strengthened his popularity among younger audiences.

Beyond acting, Odunlade has also contributed immensely to mentoring upcoming talents and expanding the commercial value of Yoruba films.

 

Muyiwa Ademola: The Master Storyteller

 

For many lovers of indigenous movies, Muyiwa Ademola remains one of the finest storytellers the Yoruba film industry has produced.

Widely respected for producing emotional and morally driven movies, the actor earned massive recognition through classic productions that focused on family values, culture, betrayal, perseverance, and societal lessons.

His calm delivery, deep scripts, and originality have kept him relevant despite changing trends in the entertainment industry.

Film critics often describe Muyiwa Ademola as one of the few actors whose productions combine entertainment with strong cultural education, making his movies timeless among older and younger viewers alike.

 

 

Femi Adebayo: The Modern-Day Box Office Force

 

Femi Adebayo Unveils Cultural and Romantic Inspirations Behind New Film, ‘Seven Doors’

Femi Adebayo has successfully combined traditional Yoruba storytelling with modern cinematic excellence, helping to project indigenous films to international audiences.

The actor, filmmaker, and producer has recorded major successes with high-budget productions that gained attention on streaming platforms and cinemas.

Known for his professionalism and attention to detail, Femi Adebayo has continued to push Yoruba movies beyond local boundaries while preserving cultural identity.

Entertainment analysts say his ability to blend culture, technology, and quality production has positioned him among the leading faces shaping the future of Yoruba cinema.

Growing Global Influence

The success of these actors reflects the increasing acceptance of indigenous Nigerian content globally. With streaming platforms creating wider access to local movies, Yoruba actors are now gaining international recognition and attracting new audiences.

Fans and stakeholders in the entertainment industry believe the contributions of Odunlade Adekola, Muyiwa Ademola, and Femi Adebayo have not only sustained Yoruba culture through film but have also elevated Nollywood’s global reputation.

 

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Eid-el-Kabir: Olowu of Kuta Urges Peace, Unity, Selflessness Among Nigerians

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Olowu Kuta To Yoruba Obas: Uplift Culture And Tradition Of Our Forebears

Eid-el-Kabir: Olowu of Kuta Urges Peace, Unity, Selflessness Among Nigerians

 

The Olowu of Kuta, HRM Oba Dr. Hammed Makama Oyelude, CON, Tegbosun III, has called on the Muslim Ummah and all Nigerians to make peace, unity, and selflessness their guiding principles as the world marks this year’s Eid-el-Kabir celebration.

 

 

In his Sallah message, the revered monarch described Eid-el-Kabir as a “highly spiritual occasion that demands dedication, commitment, and selflessness.”

 

 

Oba Makama said the period should be used to reflect on societal happenings and promote messages of hope and unity without inciting provocation.

 

 

He urged Nigerians to live together harmoniously, irrespective of religious, political, or tribal affiliations, stressing that politicians should exercise restraint and avoid inflammatory rhetoric ahead of the 2027 general elections.

 

 

“What should be uppermost in the mind of every patriotic Nigerian is **‘Country first,’” he said.

 

 

The monarch also appealed to citizens to remain vigilant in the face of insecurity, reassuring that the armed forces and paramilitary agencies are working round the clock to ensure a smooth and peaceful celebration.

 

 

“The price wise men pay for eternal liberty is vigilance. I urge everyone to celebrate moderately and extend a helping hand to the less privileged, widows, and orphans, embracing them as our brothers and sisters,” Olowu Makama added.

 

 

He concluded by wishing all Nigerians a peaceful and fulfilling Eid-el-Kabir celebration.

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Oba Babatunde Saliu Elebo II Felicitates Muslims on Eid-el-Kabir Celebration

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Oba Babatunde Saliu Elebo II Felicitates Muslims on Eid-el-Kabir Celebration

By Adeyemi Obadimu Veron

The Oloworo of Oworosoki Kingdom, Oba Babatunde Saliu Elebo II, has extended warm greetings and heartfelt felicitations to Muslims across Nigeria and the world at large on the joyous occasion of the 2026 Eid-el-Kabir celebration.

In a statement made available to Newsmen, the revered monarch urged Muslims to embrace the true teachings of Islam by promoting peace, love, unity, sacrifice, and compassion during and after the festive period.

Oba Babatunde Saliu Elebo II noted that Eid-el-Kabir, also known as Salah, remains one of the most significant celebrations in Islam as it symbolizes total obedience, faith, and devotion to Almighty Allah, drawing inspiration from the unwavering sacrifice of Prophet Ibrahim (Abraham), who demonstrated complete submission to the will of God.

According to the monarch, the Holy Qur’an teaches believers the importance of righteousness, kindness to humanity, tolerance, and support for the less privileged in society. He emphasized that the season should serve as a reminder for all Nigerians to live in harmony irrespective of religion, ethnicity, or political differences.

The royal father further called on Muslims to use the sacred period to pray fervently for peace, stability, economic growth, and sustainable development in Nigeria, stressing that national progress can only thrive in an atmosphere of unity and mutual understanding.

Oba Saliu also encouraged the faithful to extend hands of generosity to widows, orphans, and vulnerable members of society, noting that the essence of Eid-el-Kabir goes beyond celebration and feasting, but also reflects the spirit of sharing and caring for humanity as instructed in the Qur’an.

While wishing Muslims a peaceful and memorable Eid celebration, the Oloworo of Oworosoki prayed for divine blessings, prosperity, good health, and continued harmony in homes and communities.

“May this year’s Eid-el-Kabir strengthen our faith, deepen our love for one another, and bring renewed hope and abundant blessings to our nation,” the monarch stated.

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