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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”.
“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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Ajadi Visits Ilaji Resort, Commends Sanusi’s Vision for Oyo’s Economic Growth
Ajadi Visits Ilaji Resort, Commends Sanusi’s Vision for Oyo’s Economic Growth
The leading gubernatorial aspirant in Oyo State under the Peoples Democratic Party (PDP), Olufemi Ajadi Oguntoyinbo, has lauded the transformative impact of private-sector investment on the state’s economy, following a courtesy visit to Ilaji Hotels and Sports Resort in Akanran, Ibadan.
Ajadi, who was warmly received on Sunday by the resort’s founder, Chief Dr Dotun Sanusi, described the facility as a symbol of what visionary leadership and indigenous enterprise can achieve in driving rural development, job creation, and tourism growth.
Speaking during the visit, Ajadi commended Sanusi’s commitment to Oyo State’s economic advancement, noting that Ilaji Resort stands as a model for sustainable development outside urban centres.
“What I have seen here today is not just a business venture, but a bold statement of belief in Oyo State’s potential,” Ajadi said. “Chief Sanusi has demonstrated that with vision, dedication, and strategic investment, we can transform our rural communities into thriving economic hubs. This aligns perfectly with my agenda to expand opportunities, empower our people, and sustain development across the state.”
[4/13, 6:34 PM] johnsonakinpelu: The PDP gubernatorial aspirant emphasised that his governorship ambition is rooted in supporting initiatives that promote local enterprise, tourism, and youth employment, adding that partnerships between government and private investors would be a priority if elected.
In his remarks, Sanusi, popularly known as Ilaji, expressed delight at hosting Ajadi and his entourage, describing the visit as encouraging for investors in the state.
“I am honoured to receive Ambassador Ajadi here at Ilaji Resort,” Sanusi said. “This project was born out of a desire to give back to society, create jobs for our youths, and showcase the rich cultural and tourism potential of Oyo State. When leaders recognise and support such efforts, it strengthens our resolve to do more.”
Sanusi further stressed the importance of continuity in governance and policies that encourage investment, noting that consistent support from government actors is crucial for long-term economic growth.
The visit also attracted notable political stakeholders, including the former Ona-Ara Local Government Chairman, Hon. Taiwo Oke, Hon. Bass Oloko, and Ajadi’s personal assistant, Kilamuwaye Badmus, among others.
Observers at the event described the meeting as a convergence of political leadership and entrepreneurial vision, highlighting the growing importance of collaboration in addressing developmental challenges in Oyo State.
Analysts see Ajadi’s visit to Ilaji Resort as part of his broader engagement with key stakeholders across sectors, as he continues to build momentum ahead of the 2027 governorship race.
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FOPCHEN Calls for Dialogue as Court Fixes May 28 for Continuation
FOPCHEN Calls for Dialogue as Court Fixes May 28 for Continuation
OTA, OGUN STATE — Proceedings in a widely followed legal case resumed on March 24, 2026, at the High Court of Ogun State, Ota Division, ending with a fresh adjournment as the court fixed May 28, 2026, for continuation.
During the session, legal representatives for all parties restated their positions and addressed preliminary matters, laying the groundwork for more substantive arguments at the next hearing. Observers noted that the case continues to attract significant public attention due to its perceived implications for law, culture, and societal values.
The Foundation for the Protection of Cultural Heritage in Nigeria (FOPCHEN) used the occasion to reiterate its call for constructive national dialogue. The group emphasized that while the judicial process must be respected, broader societal engagement remains essential.
According to the organization, issues relating to values, responsibility, and cultural identity should not be confined solely to courtroom deliberations but should involve active participation from various sectors of society.
Legal analysts present at the proceedings described the matter as one with far-reaching implications, noting that arguments advanced in court could shape future interpretations surrounding sensitive cultural and moral questions.
The presiding judge subsequently adjourned the case to May 28, granting all parties time to refine their submissions and respond to issues raised during the hearing.
As anticipation builds ahead of the next court date, Nigerians across different sectors continue to monitor developments closely, keen to see how the judiciary navigates the delicate balance between constitutional rights and cultural expectations.
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CRG: Politicians Must Stop Witch-Hunting, Focus on Nation Building — Says NYSC Cleared Deputy Speaker Since 2023
CRG: Politicians Must Stop Witch-Hunting, Focus on Nation Building — Says NYSC Cleared Deputy Speaker Since 2023
By: Boye Ola
The Centre for Responsible Governance (CRG) has called on political actors and interest groups to desist from what it described as needless witch-hunting of the Deputy Speaker of the House of Representatives, Benjamin Okezie Kalu, following renewed controversies surrounding his National Youth Service Corps records.
The organisation noted that the clarification by the National Youth Service Corps (NYSC) regarding the matter is not a recent development, as a formal verification letter had already been issued as far back as May 23, 2023.
The letter, referenced NYSC/CCD/VER/10/5.1/VOL1/02, had already addressed and cleared the questions surrounding the Deputy Speaker’s NYSC records.
Reacting to the renewed debate, the spokesman of the Centre,
Obande George, said it was troubling that issues which had already been clarified by a competent national institution were being resurrected for political purposes.
According to him, the time has come for political actors to move away from destructive engagements and concentrate on building the nation.
“It is important to note that the NYSC had already issued a verification letter dated May 23, 2023 addressing the matter.
Reopening issues that have already been clarified by a competent authority suggests that some individuals are more interested in political witch-hunting than in national progress,” George said.
The CRG stressed that democracy thrives when institutions are respected and their determinations are accepted in good faith rather than constantly questioned for political advantage.
George also commended the Deputy Speaker for demonstrating maturity and composure throughout the controversy, despite what he described as sustained provocations.
“Honourable Benjamin Kalu has shown remarkable calm and maturity in the face of intense public scrutiny and political provocation.
Instead of engaging in unnecessary public confrontation, he allowed institutions to speak through their records.”
The Centre warned that Nigeria’s political culture must evolve beyond constant character attacks and sensational allegations, which often distract public officials from their responsibilities.
According to the organisation, the country’s development requires constructive engagement among political actors rather than continuous attempts to discredit opponents.
“Nigeria cannot move forward if political energy is constantly spent on digging up allegations and amplifying rumours. Our leaders and political actors must redirect their focus to governance, policy and nation building.”
CRG therefore urged Nigerians to rely on verified information from credible institutions and avoid spreading speculative claims that could damage reputations or destabilise public discourse.
The organisation reiterated that respect for due process and institutional integrity remains essential for strengthening Nigeria’s democracy.
@The Centre for Responsible Governance, Email: [email protected], Instagram: crgngo6, Twitter: crgng06, Threads: crgngo6
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