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A Victory for Michael Prest

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A Victory for Michael Prest

A Victory for Michael Prest

 

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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.

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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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Theo Somolu And Folake Olowofoyeku To Star In Disney’s ‘Mufasa’

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Theo Somolu And Folake Olowofoyeku To Star In Disney’s 'Mufasa'

Theo Somolu And Folake Olowofoyeku To Star In Disney’s ‘Mufasa’

 

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Nigerian actors Theo Somolu and Folake Olowofoyeku will star in Disney’s Mufasa, a prequel to The Lion King that explores Mufasa’s rise to kingship.

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Nigerian actors, Theo Somolu and Folake Olowofoyeku have secured roles in Disney’s prequel to the classic, The Lion King, titled Mufasa, which delves into the origin story of Simba’s father, scheduled to hit cinemas on December 20, 2024.

The casting of Somolu and Olowofoyeku marks a significant milestone for Nigerian representation in Hollywood. Details regarding their character are yet to be revealed.

Olowofoyeku brings a wealth of experience to the project. She has captivated audiences in both movies and television series, including her role in the popular sitcom, Bob Hearts Abishola (2019), Death Race 2050 (2017), Female Fight Club (2016), and the epic adventure, 10,000 A.D.: The Legend of the Black Pearl (2008).

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In addition, Somolu contributes his knowledge from previous projects, such as the children’s television program Mighty Express (2020), and Baggio: The Divine Ponytail (2021).

Moonlight and If Beale Street Could Talk director, Barry Jenkins is the director.

An era before Simba’s problems with his jealous uncle Scar will be revisited by viewers through Mufasa. Through a detailed account of his early years, the prequel will trace Mufasa’s development from a helpless cub to a courageous king.

The movie will explore the circumstances that lead Taka down a dark road and the complicated nature of their relationship.

According to Disney, “Mufasa: The Lion King enlists Rafiki to relay the legend of Mufasa to young lion cub Kiara, daughter of Simba and Nala, with Timon and Pumbaa lending their signature schtick. Told in flashbacks, the story introduces Mufasa as an orphaned cub, lost and alone until he meets a sympathetic lion named Taka — the heir to a royal bloodline. The chance meeting sets in motion an expansive journey of an extraordinary group of misfits searching for their destiny — their bonds will be tested as they work together to evade a threatening and deadly foe.”

Starring in the film are Beyoncé, Donald Glover, Blue Ivy Carter, Kelvin Harrison Jr., John Kani, Billy Eichner, Aaron Pierre, and Seth Rogen.

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How Ajobiewe settled long-standing feud between movie stars Yinka Quadri, Ogogo

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How Ajobiewe settled long-standing feud between movie stars Yinka Quadri, Ogogo

How Ajobiewe settled long-standing feud between movie stars Yinka Quadri, Ogogo

 

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The internet was stirred up when a video of two veteran Nollywood actors, Yinka Quadri and his colleague, Taiwo Hassan, popularly known as Ogogo, surfaced on social media platforms on Wednesday evening.

 

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Although, PUNCH Online could not confirm when or how the disagreement started between the two actors, they were seen settling their differences in a now viral video.

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In the video, one of Nigeria’s legendary Esa Oriki Orile exponents, Sulaiman Ajilara, popularly called Ajobiewe, was seen begging the veteran actors to put aside their differences and sheath their swords.

 

 

Ajobiewe made the peace call on Wednesday night during the birthday of actor Yomi Fabiyi.

 

When Quadri approached the dance floor, Ajobiewe insisted he call on his friend, Ogogo.

Afterwards, Ogogo joined Quadri while the chanter pleaded with them to settle their misunderstandings with his lyrics.

He sang in Yoruba, “Where is your Ogogo? Why did you come here alone? Call him for me. Tell him to come to me. I beg you, it is impossible not to have misunderstandings but I am begging you in the name of God, to settle whatever it is.

 

“Please hug each other and let it end there. I do not want to hear anything about your misunderstandings anymore for God’s sake.”

The two then hugged and smiled at each other.

Reacting to this, some Nigerians commended Ajobiewe for reuniting the actors, noting that it was good to see them back together.

Lanre Adeola, tweeting with the handle @lanreadeola said, “That’s lovely. An elder that doesn’t allow the baby’s neck to twist in the market.”

A tweep, Olanrewaju, who identifies as @olanrewaju wrote, “Agba o ni tan lori le…May God keep Ajobiewe for us for many years in good health. This is so nice.

Others expressed shock that the two were not on good terms. Sope, who tweets as @Dcsopetie wrote, “Wow! I never knew they were not talking to each other and how they hid it from the public is beyond me.

Meanwhile, Quadri, in a video shared by a YouTuber, Kilarigbo, earlier on Wednesday, confirmed their friendship, saying they are five and six.

 

He said though they are not biologically related, they are more like twins, adding that they have been friends since they met in 1985.

He, however, hinted that they have their issues, noting that they settle their misunderstandings without a third party.

He also warned the public to desist from spreading rumours of their fight, noting that they can never be separated by any force whatsoever.

However, PUNCH Online observed that both friends were hardly seen together in public in recent times.

Efforts to speak to Ogogo proved abortive as he didn’t pick calls or respond to text messages sent to his phone as of the time of filing this report.

Reacting, PUNCH’s style Editor, Tofarati Ige, said though the cause of their rift was unknown to the public, they started appearing less in public together.

He said, “Originally, Ogogo and Yinka Quadri were known to be close friends, as they often appeared at events together. In many films, they acted as friends, and their relationship continued off-screen. In some instances, they even wore outfits similar to those for public events.

 

“However, for some time, they started appearing less at public events together. Even when Ogogo’s daughter, Shakirat, got married, Yinka Quadri did not attend.

“Though the cause of their rift was not made known to the public, there were different rumours that they had fallen out, but neither of them acknowledged it publicly.

“However, the rift was well managed, as it was only known to insiders and privileged sources in the industry.”

Speaking further, he noted that when Quadri was approached about the issue, he declined to comment on it.

“Personally, when I heard of the rift about two years ago, I asked Yinka Quadri a question about it at an event, but he refused to comment on the issue.

“Till date, there are just speculations as to what actually caused the rift, I am not privy to what actually happened. As regards reconciliation, I am not aware of any elder that had tried to mediate between them.

“But, they are both close to elders in the industry, such as Jide Kosoko and Oga Bello, who are likely to have attempted to broker peace between them,” he added.

 

@PUNCHNG

 

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‘Pity men’, Williams Uchemba laments outfits women wear to the gym

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'Pity men', Williams Uchemba laments outfits women wear to the gym

‘Pity men’, Williams Uchemba laments outfits women wear to the gym

 

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Nollywood actor Williams Uchemba has lamented over the choice of outfit ladies wear to the gym.

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The movie star, in a video on his official Instagram account, lamented that women now wear revealing outfits to the gym, and the times he goes to the gym, he sees something he didn’t plan to see.

 

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'Pity men', Williams Uchemba laments outfits women wear to the gym

 

He also revealed that, due to this trend, he stopped going to public gym because of his desire to “make heaven.”

 

 

He said, “Ladies how far? Should all the men not come to the gym again? Because it’s getting out of hand and becoming appalling, I don tire. Make una try to dey wear beta cloth come gym nau, what is this?

 

 

“There are men that have made up their minds to make the heavenly race and na una dey plenty for gym. Whoever that sells these clothes to you people, their shop go burn down because what is going on? Every single time one comes to the gym, wetin you no plan see you must see am.

 

 

Una don make up una mind say no man in this Nigeria will make heaven but It won’t work because I’ve left the gym for una, I’ve set up a gym in my house because I cannot cope, I want to make heaven. You will have 20 people in the gym, 300 are women, doing exercises.

“Have conscience, men are people’s children too, I’m speaking for all the men and we need to make heaven.”

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