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Ecobank Nigeria to Appeal Honeywell’s Purported N72 Billion Court Judgement

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Ecobank Nigeria to Appeal Honeywell’s Purported N72 Billion Court Judgement

Ecobank Nigeria to Appeal Honeywell’s Purported N72 Billion Court Judgement

 

Ecobank Nigeria Limited says it will appeal a judgment by the Federal High Court in Lagos, presided over by Hon. Justice Liman, which delivered a judgment in favour of Honeywell Flour against the bank and ordered it to pay the sum of N72 billion. The bank said it believes that the judgment is perverse and cannot stand the test of time. It also noted that it would vigorously challenge the same, and remain confident that it can reverse this judgment at the higher courts.

 

 

 

Sources from the bank stated that the instant suit was an action filed in 2018 for the enforcement of the Bank’s Undertaking as to Damages which was filed in pursuance of its Winding Up Petition and the Ex-Parte Orders which were granted in favour of the Bank.

 

 

 

 

“We challenged the action through a Notice of Preliminary Objection dated 16th October, 2018 whereby we challenged the jurisdiction of the Federal High Court, as (among other reasons), the action did not fall within the provisions of Section 251 (d) of the Constitution, being that the subject matter of the suit was for the Claim of Damages arising out of an Ex-Parte Order, as opposed to a Banker-Customer relationship. Trial was concluded in this matter on 9th March 2021 and the parties adopted their final written addresses alongside our Notice of Preliminary objection on 16th March 2022, the Court then adjourned the matter to 27th May 2022 for judgment. While the court failed to deliver judgment on the said date, the registrar of the court promised to inform counsel whenever the judgment was ready”.

 

Ecobank Nigeria to Appeal Honeywell’s Purported N72 Billion Court Judgement

 

 

“In the wake of the Supreme Court’s decision in the Bank’s favour, in Suit No. SC/CV/210/2021 which was delivered on 27th January 2023, the bank further filed a Motion on notice dated 9th March 2023 to dismiss the Suit on the grounds that the same has become academic as a result of the judgment entered in favour of Ecobank wherein the Supreme Court held that Honeywell remained indebted to the Bank. The Court heard a motion dated 9th March 2023 and adjourned to 23rd June 2023 for ruling on our two applications and also for delivery of judgment. The Court consequently delivered the said ruling/judgment today July 18 via a virtual proceeding at about 4pm. In its Judgment, the Court dismissed the two applications we filed, holding that it has jurisdiction to entertain the suit and also that the suit had not become academic”.

 

According to the bank, In reaching its judgment, the Court ignored/refused (among others): Submissions showing that the Ex-Parte Orders were discharged on points of law and not that it was frivolously obtained by the Bank; that the Ex-Parte Order lasted for less than 2 weeks, contrary to the Claim of Honeywell which was said to have covered the period of three years; that the documents presented by Honeywell particularly the annual returns did not show the alleged damage, hence same was indeed non-existent; that documents from various other Banks who were served with the ex-parte order showed that the Honeywell companies were indeed highly indebted to them, hence there was no way the Ex-Parte Orders would have frozen funds in the said Banks; and more importantly, the Court refused all the objections regarding the documents maliciously prepared by Honeywell for the sole purpose of instituting the Suit and claiming unjustifiable sums from the Bank.

 

The bank reiterated that it is a member of the Ecobank Group, the Pan-African Bank which is proudly and fully committed to transparency in all the countries where it operates, and abides by laws and regulations. It believes that this matter should be conclusively determined in line with the applicable judicial process.

 

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Celebrating The Women Behind The Music : The Members Of Elite Women Musicians Club Of Lagos

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Celebrating The Women Behind The Music : The Members Of Elite Women Musicians Club Of Lagos

In the pulsating heart of Lagos, the Elite Women Musicians Club of Lagos

stands as a beacon of unity and empowerment for female artists. This dynamic association, renowned for its diversity in musical genres, prides itself on bringing together talented women from all walks of musical life. Today, we celebrate its esteemed members, who number twenty-nine strong, each contributing uniquely to the vibrant tapestry of the Club.

 

Leading The Charge :

At the forefront of the Elite Women Musicians Club of Lagos Club is Alhaja Queen Isimot Abake Abiola PQ1st (Omo Opeki), the President. Her leadership is a source of inspiration for many, guiding the Club with a vision of inclusivity and excellence. Supporting her is Alhaja Queen Halimot Ayinla Omowura, the Vice President, whose dedication ensures the smooth operation and growth of the association.

 

Alhaja Badirat Adunni Olaniyan (Just Like That) serves as the Treasurer, managing the financial health of the Club with precision. The Social Secretary, Alhaja Aminat Babalola Balogun (Omotayebi, Iya Kekere Eko), brings vibrancy and connectivity, fostering a sense of community among the members. Asiwaju Yeye Tosin Eniba (Fuji Queen), the Secretary, ensures that the administrative duties are handled efficiently, supporting the organizational backbone of the Club.

Valued Members :

The Club’s strength lies in its diverse membership, each woman a luminary in her own right. The following are the distinguished members of the Elite Women Musicians Club of Lagos :

– Afonja Gbajoba

– Bisi Ewa Ogo Jesu

– Alhaja Jelilat Dupytie

– Ejire Akewi Oba

– Alhaja Aminat Itojuobi

– Alh. Fatimo Oseni Salawa Onigbongbo

– Alh. Tawakalitu Alagbada Tokotaya to nko Fuji

– Aishat Irepo Obi

– Olaleye Rahemot Arike (Akomolesin Agbaye)

– Alh. Dasola Abeke

– Ewebiyi Iya Oriki

– Ameerat Oninure

– Alh. Azeezat Otibiya

– Alh. Rukayat Bashirimi

– Alh. Mujidat Damilola

– Alh. Fatima Aljafaria, an Elder whose wisdom and experience enrich the Club.

– Alh. Taibat Omo Tayenfe

– Queen Muheenat Ijaodola

– Sakirat Yeye Oge

– Alh. Mariam Akiki Akanbi

– Queen Abebi Ayala

– Aweni Adepeju (Aweni Fuji)

– Fatimo Ajoke Cinderella

– Alh. Hafsat Sideeq, another Elder whose guidance is deeply valued.

 

A Legacy of Excellence :

The Elite Women Musicians Club of Lagos is more than just an association; it is a legacy of excellence, a network of powerful voices that harmonize to uplift and inspire. Each member, from the executives to the distinguished members, plays a crucial role in shaping the cultural and musical landscape of Lagos and beyond. Their combined efforts create a symphony of collaboration and mutual support, ensuring that the future of female musicians in Nigeria remains bright and promising.

 

As we celebrate these remarkable women, we also look forward to the new heights the Club will achieve under their leadership and unity. Their commitment to their craft and each other stands as a testament to the incredible power of music and the unwavering strength of women.

Celebrating The Women Behind The Music : The Members Of Elite Women Musicians Club Of Lagos

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Sustain Tempo of High Revenue With Compliance, CGC Tells Comptroller Olomu

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Sustain Tempo of High Revenue With Compliance, CGC Tells Comptroller Olomu
… As Apapa Command Honours Outstanding Stakeholders

By Ifeoma Ikem

Comptroller General of Customs, Bashir Adewale Adeniyi, MFR has commended the Area Controller of Apapa Port Command, Comptroller Babatunde Olomu, fsi for the command’s outstanding revenue collection of over N2.2tr and urged him to sustain the tempo.

CGC said this in Apapa on Friday at the command’s end of the year party and award ceremony also harped on the need for compliance and synergies as necessary strategies to greater productivity at the port. According to him, compliance is a competitive advantage.

He was represented by Deputy Comptroller General Caroline Niagwan, DCG Tariff and Trade, Adeniyi congratulated the Customs Area Controller and all the officers and men of Apapa Area Command for the milestone achieved in revenue collection to the tune of N2.2tr and still counting which has earned the command multiple accolades

“It is with immense pleasure that I stand before you today to celebrate a shared commitment to compliance and excellence in trade. This award ceremony is a testament to your dedication to ethical business practices, adherence to regulations, and unwavering support for the principles that drive Nigeria’s economic growth.

“Compliance is not merely a requirement; it is a competitive advantage. It fosters transparency, reduces operational risks, and strengthens the trust between businesses and regulatory authorities. It also positions compliant stakeholders to enjoy streamlined processes, faster clearance times, and access to the numerous benefits that come with being recognized as trusted trade partners.

“As a Service, we understand that sustaining compliance can sometimes require capacity building, especially as global trade evolves.

To this end, the Service is committed to providing the necessary training, technical assistance, and partnerships that will empower you with the knowledge and tools to maintain this high standard.

“Our goal is to ensure that every stakeholder remains competitive,vinnovative, and aligned with global best practices.
By working together, we can unlock even greater opportunities for growth. Compliant stakeholders not only contribute to national revenue but also drive economic development, attract foreign investments, and enhance Nigeria’s position in international trade” Adeniyi said

In his welcome speech, Comptroller Olomu expressed appreciation to the CGC and the customs management team for always providing the direction and inspiration to the command in it’s drive to meet government’s expectations .

He described the end of year party as many things rolled up in one as it strengthens the stakeholders bond as a community of government and private sector collaborators working together for the betterment of Nigeria;

it’s also to celebrate together as the year 2024 ends and honour those whose outstanding performances contributed in shaping the command’s achievements in 2024.

Comptroller Olomu said despite the challenges of low trade volume, the command is able to achieve it’s target which is a reflection of officers commitment and dedication to duty

He added that in line with the policy thrust of the CGC, the command utilised it’s relationship with stakeholders to achieve it’s goal this year.

According to him improving on stakeholder engagement has become an operational template the Comptroller General of Customs has impressed on the officers and expressed joy to announce that it has proven to be a masterstroke towards enhanced compliance.

Comptroller Olomu said “Compliance is no doubt the bedrock of all customs achievements in areas of revenue collection, anti smuggling and legitimate trade facilitation. Our approach to regurlarly engage our sister government agencies has raised our degree of intelligence sharing towards a common national interest.

“Let me use this period to thank the NPA, DSS, NDLEA, NAQS,Port Health, Police, Immigration and other sister government agencies for their consistent collaboration in 2024. They are indeed an integral part of the command’s success story in 2024. I urge them to stay on board let’s do it again in 2025.

“With our port users, we maintained regularly enlightenment meetings, faster trade dispute resolution mechanism and consistent appraisal of feedbacks to keep improving on our responsibilities.

“There have been positive fallouts of our regular interface with our stakeholders. This is evident in our collection of N2..2tr revenue and still counting, zeroing in on the minority that attempt smuggling by curbing their activities with seizures. We are fostering inclusivity and this will continue in 2025

“We have ensured no container , import or export consignment goes through our control without due diligence of proper examination. This has been the foundation of our impeccable enforcement drive.

“We are honouring some of our officers and stakeholders for their outstanding performances in the year 2024 . I want to urge the awardees to see this as a call for more commitment to surpass their best outputs. There is no end to improvement

“This should also be a challenge to those who didn’t make the award list this time, I urge them to keep improving with a promise that their inputs shall not go unnoticed for due recognition” he concluded

Among those recognised with various awards are APM Terminals, Sifax Group, ENL Consortium, Dangote, Talod Ocean Airfreight and Princess Chi Ezeh the CEO of Munah Sylva Nigeria Limited

The command also recognised serving and retired officers for their contributions to it’s overall successes in 2024.

Sustain Tempo of High Revenue With Compliance, CGC Tells Comptroller Olomu
... As Apapa Command Honours Outstanding Stakeholders

By Ifeoma Ikem

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Bullion Records; GyC Release Debut EP Album, A Billion Things

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Bullion Records; GyC Release Debut EP Album, A Billion Things By Ibrahim Kegbegbe

Bullion Records; GyC Release Debut EP Album, A Billion Things

By Ibrahim Kegbegbe

 

Bullion Records, one of Nigeria’s fastest-growing record labels, has officially released its highly anticipated debut EP album, A Billion Things, sung by its sensational artist, GyC. Born Fortune Kingsley, GyC is making waves in the Nigerian music industry, and this five-track EP marks a significant milestone in his career and the label’s history.

The EP, which dropped today, Wednesday, December 12, 2024, features an eclectic mix of tracks, including Mailo, Shayo, Woman, Kpang Kpang, and Kokan Aye. The standout track, Kokan Aye, features collaborations with Nigerian music icons 9ice and Eedris Abdul Kareem, further solidifying GyC’s place in the music scene.

Speaking about the project, Ambassador Olufemi Ajadi Oguntoyinbo, Chairman and CEO of Bullion Records, described the album as a blend of inspiration and artistry. “Every track in this album is not only a masterpiece but also delivers profound messages. From love to resilience, and from societal consciousness to celebration, A Billion Things resonates with listeners on different levels,” he said.

The production team behind the album includes some of Nigeria’s most talented producers. YoungSmith worked on the hits Shayo, Woman, and Mailo, while Philkeyz produced the electrifying Kpang Kpang. Shockerbeat added his signature touch to Kokan Aye, ensuring the album delivers a diverse yet cohesive sound.

Mr. Elegbede Ajibola, the entertainment director at Bullion Records, emphasized the label’s strategic timing for the album’s release. “We deliberately chose December to launch this EP because it’s a season when people connect through music. We want fans and good music lovers worldwide to vibe to these amazing tracks during the festive period,” Elegbede noted.

GyC, the star of the moment, expressed his gratitude to the team behind the album’s success. “This project is the result of collective effort and dedication. I want to thank the executive members of Bullion Records for their unwavering support. Special appreciation also goes to the incredible music producers who brought my vision to life,” he said.

The release of A Billion Things marks a bold statement from Bullion Records as it cements its position in the Nigerian music industry. With a lineup of motivational, soulful, and dance-worthy tracks, the EP is expected to become a favorite among music lovers globally.

Fans can now stream or purchase the album on all major music platforms.

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