Business
Court freezes N3.5b, properties of Ex-NAMA managers
A Federal High Court in Lagos has ordered the temporary forfeiture of N3.5 billion and 68,000 dollars belonging to the top managers of the Nigerian Airspace Management Agency (NAMA) and its managing director Mr. Ibrahim Abdulsalam.
Justice Oluremi Oguntoyibo made the interim forfeiture order based on an ex-parte originating summons filed by the EFCC.
Apart from Abdulsalam, the former managers of NAMA affected by the order are Olumuyiwa Adegorite, a former General Manager of Procurement of NAMA, and Segun Agbolade, a former General Manager, Finance.
Others are a former acting General Manager, Information and Communication Technology (ICT) Bolaniran Akinribido, Adegorite’s wife, Joy and Abiodun Sessebor.
The rest are Randville Investment Ltd, Multeng Travels and Tours, Delosa Ltd, Airsea Delivery Ltd and Sea Schedule Systems Ltd as well as their affiliate companies.
The Economic and Financial Crimes Commission, which is prosecuting them asked that the properties, buildings, parcels of land and premises belonging to them be temporarily vested in the EFCC.
In a supporting affidavit, an EFCC investigating officer, Mr Nurudeen Bello said that the commission received a petition on Jan. 13, 2016 alleging that some management staff of NAMA stole government funds running into billions of naira.
He averred that the sums were derived through fictitious procurement contracts, fake container clearing contracts and fraudulent cash advances to some members of staff.
Bello said that the funds in the bank accounts were some of the laundered proceeds of the alleged crime for which they were being prosecuted.
The deponent averred that while the prosecutions were on-going, the commission got wind of plans by the respondents to transfer funds out of their various accounts.
He said that the properties, buildings, parcels of land and premises belonging to the respondents were also some of the laundered proceeds of the crimes for which they were being prosecuted.
He also averred that an order of court, attaching the aforementioned funds therein to the commission, was imperative to prevent further dissipation of the respondents’ funds and assets.
He emphasised that it was in the interest of justice to grant the commission’s application.
Justice Oguntoyibo granted the application as prayed after it was moved by the EFCC counsel
Seized were the N30.1million in Adegorite’s account, N8.7million and N120million in Randville Investment’s account and 42,000 dollars in Adegorite’s account.
Others were N2.8million in Delosas account, N1.2billion in the account of Avesta Ventures Electronics Nigeria Ltd, N985.6million, N281million, N681million and N47million in accounts of Merry Aviation Communication Electrical Ltd, among others.
A residential building at 5 Sobo Arobiodu Street, GRA, Ikeja, a petrol station on Egbeda-Idimu Road, by Faith Bus Stop, a filling station in Mushin, Idi-Oro, and a petrol station in Alakuko were among the assets temporarily forfeited.
The Economic and Financial Crimes Commission (EFCC) said that the ownership of the listed properties was yet to be determined.
Abdulsalam and others are also on trial for N2.8billion fraud before Justice Babs Kuewumi of the same court.
They pleaded not guilty.
Business
PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status
*PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status
To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.
UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.
In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.
Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.
We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.
Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.
Thank you.
Business
Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour
Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour
Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”
Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.
The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.
This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.
Speaking on the collaboration, the Laffmattazz team stated:
“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”
As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.
With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.
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About Laffmattazz
Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.
About First Bank of Nigeria Limited
First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.
Business
MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria
MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria
Anyone who has tried to get a loan to buy a house in Nigeria knows the drill: endless forms, property valuation, and eventual down payment of a minimum 25% or more on the property. Sometimes, interest rates could go as high as 30% per annum, while the typical loan limit is N50 million.
Now, FirstBank is making homeownership more attractive.
FirstBank, in partnership with the Ministry of Finance Incorporated (MOFI), has introduced the MREIF Home Loan. MREIF loan is a game-changer, offering a single-digit interest rate of 9.75% per annum, with a loan amount of up to ₦100 million and a repayment period of up to 20 years. This is perfect for salaried individuals, including Nigerians in the diaspora, looking to purchase homes in approved locations.
The MREIF loan stands out with its lower interest rate, higher loan amount, and flexible equity contribution as low as 10%. This makes it an attractive option for those seeking affordable homeownership.
You are one quick decision away from being a landlord.
If you’ve been waiting for the right time to buy a home, FirstBank’s MREIF Home Loan is the smartest route to owning property in Nigeria today. Visit the FirstBank website https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ to get started.
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