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Court rules out Honeywell’s contempt suit against Ecobank

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The Federal High Court in Lagos last Friday struck out a contempt charge filed against Ecobank Nigeria Limited by Honeywell Flour Mills Plc.

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Justice Mohammed Idris held that the Form 48 and Form 49 (with which contempt proceedings are initiated) were not properly served on the alleged contemnors.

The charge had been filed by Honeywell Group, which urged the court to jail the Ecobank MD for allegedly violating an August 10, 2015 court order, which barred Ecobank from publishing the name of Honeywell Group among chronic debtors last year.

The company, through its counsel, Chief Wole Olanipekun (SAN), alleged that Ecobank, through its lawyer, Mr. Kunle Ogunba (SAN), had taken steps contrary to the court’s order by filing other suits in a bid to recover the alleged debt from Honeywell.

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In his ruling, however, the presiding judge, Justice Mohammed Idris, held that a party seeking to jail another for disobeying a court order was duty bound to ensure that processes in contempt proceedings were duly served.

Breach of such proper service, he said, “will wrought consequences on the proceedings.”

Declining jurisdiction, Justice Idris said: “What I can see from a close examination of form 48 is that the form is stamped; the wordings are however illegible. I can see that the stamp has the date of 19th November 2015. The same applies to Form 49.

“A valid proof of service of the same forms must have endorsed therein the following, as stated by the Court of Appeal: (1) particulars of the person serving; (2) date of service; (3) time and place of service and (4) the person that accepted the service.

“I’m afraid that it appears that the Form 48 and 49 were not properly endorsed with the particulars of service. In effect, there is no reliable or authentic information before the court as to the service of the Form 48 and 49 on the defendants herein.

“This issue goes to the issue of the jurisdiction of the court. This court must act with caution. I decline jurisdiction. I hold that the jurisdiction of this court has not been properly invoked in respect of the contempt proceedings and same is hereby struck out”.

He further warned parties against taking any action that could incur the court’s wrath.

“Let me warn that orders of court are binding and enforceable until set aside by an order of court of competent jurisdiction. The order of this court that the parties maintain status quo ante bellum remains valid and binding on all the parties until set aside.

“Whenever the disciplinary jurisdiction of this court is properly invoked, this court will descend heavily without any fear on whichever party is found guilty of contempt of this court. This court barks and it bites”.

The Judge then adjourned till February 26 for hearing of Ecobank’s motion for stay of proceedings.

Justice Idris had last August 10 made an order of interim injunction restraining the bank from publishing the plaintiffs’ name as debtors.

The judge also ordered parties to maintain status quo pending hearing of the plaintiffs’ suit against Ecobank.

But while the suit was pending, Ecobank filed other suits before other judges in a bid to recover its debt from Honeywell Group and its chairman, Oba Otudeko.

Honeywell, through its lawyer, Chief Wole Olanipekun (SAN), thereafter filed the Form 48 and Form 49, urging the High Court to hold the bank in contempt.

 

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Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

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TY BURATAI HUMANITY CARE FOUNDATION CALLS FOR EXPULSION OF A CHINESE FAMILY OWNERS OF A SUPERMARKET THAT SEGREGATES NIGERIANS

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TY BURATAI HUMANITY CARE FOUNDATION CALLS FOR EXPULSION OF A CHINESE FAMILY OWNERS OF A SUPERMARKET THAT SEGREGATES NIGERIANS

 

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In a bold statement released by the TY Buratai Humanity Care Foundation, a call has been made for the expulsion of the Chinese family owners of a supermarket in Abuja, Nigeria, who deny Nigerians access to shop. The foundation, led by it’s Chairman Amb Ibrahim Dahiru Danfulani Sadaukin Garkuwan Keffi and Betara of Biu, expressed deep concern over the discriminatory practices of the supermarket, which only allows Chinese citizens to enter and purchase goods while barring Nigerians from doing the same.

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The Grand Patron of the Foundation, His Excellency Ambassador Lt Gen Tukur Yusufu Buratai (Rtd) CFR, former Chief of Army Staff, condemned the discriminatory actions of the supermarket owners, likening it to racism. He emphasized that no foreign citizen should be denied his rights in Nigeria as long as he or she abides by the country’s laws. Gen Buratai questioned the audacity of foreigners dictating terms to bona-fide citizens on how to live or stay in their own country.

Gen Buratai further criticized the discriminatory policies of the supermarket owners, stating that there is no valid reason for a company in Nigeria to refuse to sell to Nigerians. He labeled the actions of the Chinese family-owned establishment as a clear case of racism and called for decisive action by the federal government against any individuals, foreign or Nigerian, who flout the rules and regulations of the nation.

The TY Buratai Humanity Care Foundation’s stance on the issue serves as a strong message against segregation and open hatred towards Nigerians. The foundation urges the government to address such discriminatory practices swiftly and firmly to uphold the rights and dignity of all citizens in Nigeria and even abroad.

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$87m Theft: Abayomi Remanded in Suleja Until Bail Perfection As Court Adjourns Till 14th (Video)

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$87m Theft: Investors of Afriq Arbitrage System Boos,Jeer At Abayomi, Remanded in Suleja Until Bail Perfection As Court Adjourns Till 14th

$87m Theft: Investors of Afriq Arbitrage System Boos,Jeer At Abayomi, Remanded in Suleja Until Bail Perfection As Court Adjourns Till 14th ( Video)

 

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The arraignment of Abayomi Oluwasesan over the lingering theft saga to the tune of $87m commenced today with the review of his bail conditions.

Abayomi Segun Oluwasesan who allegedly committed the heinous crime of defrauding the leading global crypto space known as Afriq Arbitrage System was arraigned alongside his wife at the FCT High court, Jabi in Abuja.

Earlier, the defendants’ lawyer appealed for leniency on the stringent bail condition on behalf of Abayomi OluwaSesan citing their prolonged detention and promising their availability for trial if granted bail. However, the complainant lawyer, Sidi Abdulrasheed, opposed the bail request, highlighting previous instances where the defendants had allegedly fled after being granted bail.

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Responding to the bail review, the presiding judge, Ms. Idris insisted the earlier bail conditions remain valid with little modification. It would be recalled that the conditions initially given included provision of two sureties each with 500 million Naira, owning property in Maitama, and also two directors in the federal civil service. Additionally, the sureties must deposit the title documents of their properties in court. However, in his ruling today, he said the sureties should be owners of properties anywhere within the FCT and worth 400 million naira and above. He also reiterated that the two directors should be serving directors and the properties be valued by a licensed estate valuer registered with the federal government.

Thereafter, he adjourned the proceedings till 14th ,15th and 16th of May 2024 for speedy trials.

 

Speaking to Jesam Micheal, the CEO of Afriq Arbitrage System (AAS) after the court proceedings, he clarified the wrong narratives about the case. He said the appearance of Abayomi in court has justified the truth that he defrauded the company to the tune of $87m and that he has confessed to his crime. He narrated how Abayomi who was entrusted with the platform while he went for liver transplant tempered with the systems and defrauded the community of the staggering sum of $87m. He stated that all he is after is for him to refund the stolen funds.

Also, the complainant’s counsel, Barrister Obeten revealed that justice will be served at the court as the suspect has allegedly admitted to committing the crime.

 

Meanwhile, there was mild drama in court as thousands of investors stormed the court today, booed and jeered at Abayomi and his wife. Their anger was not unconnected to the fact that his actions gravely affected them and their means of livelihood.

 

 

It would be recalled that Abayomi and his wife were tracked to an estate in Lagos and brought back to Abuja on Sunday, March 24th, 2024 over the lingering financial scam to the tune of 87 million dollar and criminal activities he perpetrated against AAS and the CEO, Jesam Micheal.

 

 

The arraignment of Abayomi by the IG of police at the Federal High Court in Abuja witnessed a significant development on Thursday, March 28th, 2024, as the case involving the alleged theft of 87 million dollar by Abayomi OluwaSesan charged by the Inspector General of Police, Kayode Egbetokun, proceeded with significant deliberations.

 

 

The accused individuals were charged for purportedly accessing millions of subscribers’ investments at the Afriq Arbitrage Company’s online trading platform until October 9th, 2023.

 

$87m Theft: Investors of Afriq Arbitrage System Boos,Jeer At Abayomi, Remanded in Suleja Until Bail Perfection As Court Adjourns Till 14th

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Wema Bank Celebrates Remarkable Journey of 79 years

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Wema Bank Celebrates Remarkable Journey of 79 years

 

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In a remarkable celebration of heritage and innov ation, Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT today announced a joint celebration marking Wema Bank’s 79th years and ALAT’s 7 years anniversaries. This significant celebration not only commemorates nearly eight decades of exceptional service and innovation in the Nigerian banking sector but also celebrates the bank’s seven years of digital excellence with ALAT.

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Wema Bank Celebrates Remarkable Journey of 79 years

 

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Since its inception in 1945, Wema Bank has been at the forefront of financial innovation, constantly adapting to meet the evolving needs of its customers. Over the decades, the bank has evolved from a regional bank to a national bank, adapting continuously to meet the dynamic needs of its customers and establishing itself as a pillar of trust and reliability for millions of individuals and businesses across Nigeria.

According to the MD/CEO Wema Bank, Mr. Moruf Oseni, the bank’s evolution from being Nigeria’s oldest indigenous bank to being at the forefront of innovation, pioneering Africa’s first fully digital bank, ALAT, has been a true story of resilience and transformation.

“At 79, Wema Bank stand stronger than ever, and this achievement would not have been possible without the support of our customers and employees. We thank them for believing in the Wema vision, for entrusting their financial security to us, and for allowing us to contribute to their personal and professional aspirations. Their faith in us is deeply cherished, and we are honored to serve them.”

“As we mark our 79th year today, we reaffirm our commitment to empowering lives through innovation, and exceeding our customers expectations with unparalleled banking experiences tailored to their needs. Our pledge is to stand by our customers through every stage of life, offering enabling platforms to accelerate their growth and propel them to extraordinary heights.”

“While the past 79 years have been remarkable, we anticipate that the coming decades will be even more inspiring. With the partnership of our customers and employees, Wema Bank is poised to set new standards in financial services and redefine the future.” He concluded.

As part of the anniversary celebrations, Wema Bank and ALAT are rolling out a series of customer-focused activities designed to reward loyalty and enhance the customer experience. Throughout the anniversary month, customers will enjoy various promotions, including discounts on transactions, cash prizes, special loan offers and much more.

This anniversary is more than a celebration; it’s a reaffirmation of Wema Bank’s resilience and ongoing commitment to innovation and customer satisfaction in a competitive industry. Both Wema Bank and ALAT are poised for further growth, with strategic initiatives designed to enhance customer-centric services and expand the reach yearsw capability of digital banking solutions.

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