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Exposed!!! How Dasuki asked me to pay N400m into Olisa Metuh’s Account – Banker

Published

10 years ago

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DasukiPDP Olisa Metuh

 

 

 

PDP National secretary, Olisa Metuh is currently remanded in prison for receiving N400m from Ex-NSA, Sambo Dasuki,which was meant for arms procurement.
In the course of his court hearings, witnesses have emerged against him and have confirmed that he received the said amount from Dasuki.
During the last hearing, a witness testified before the Federal High Court in Abuja revealing that the spokesman of the Peoples Democratic Party, Olisa Metuh, had N400 million paid into his account on November 24, 2014 by the office of a former National Security Adviser, Sambo Dasuki.
The Economic and Financial Crimes Commission is prosecuting Mr. Metuh for allegedly receiving N400 million from Mr. Dasuki.
The money is believed to be part of an alleged $2.1 billion Mr. Dasuki is accused of diverting while he was NSA.
The witness, Eno Mfon Effiong, a staff of Diamond Bank, is the fourth Prosecution Witness ((PW4) to testify before Justice Okon Abang on the case involving Mr. Metuh.
She is a customer relations manager at the bank, with the responsibility of attending to customer requests, packaging credits facilities, and managing customers’ accounts.
Ms Effiong informed the court that she managed Dextra Investment Limited account since Feb 10,2014 when the company opened the account at her bank.
She also told the court that on November 24, 2014, the sum of N400m was paid into the account of Dextra investment’s Limited from the office of the NSA.
She said the company operated five accounts and that Mr. Metuh once demanded statements of his account, which was delivered to him in his residence.
At that point, Mr. Metuh’s lawyer, Emeka Etiaba, objected to the presentation of some documents by the witness.
Mr. Itiaba told the court that one of the documents, a letter, did not relate to the statement of the witness.
He further argued that the witness is not the originator of the documents presented and should therefore not testify regarding it.
Mr. Itiaba prayed the court to discountenance the documents tendered by the witness, saying most of them did not comply with section 84 of the Evidence Act.
Responding, however, the prosecution counsel, Sylvanus Tahir, urged the court to dismiss the objection for lack of merit, stating that its aim was to mislead the court.
Mr. Tahir’s prayer was upheld by Justice Abang.
Earlier, the judge turned down the request of Mr. Itiaba who prayed the court to stay proceedings on Mr. Metuh’s substantive suit, following the absence of the defendant’s lead counsel, Onyeachi Ikpeazu.
Mr. Itiaba had told the court that Mr. Ikpeazu could not make it to the session, as he was attending to an election matter, which was time bound at the Supreme Court.
But in his submission, Mr. Abang held that Mr. Ikpeazu failed to inform the court in writing about his absence.
The Judge said Mr. Itiaba cannot be allowed to make such an appeal through the backdoor for Mr. Ikpeazu.
He therefore ruled that the hearing continue after the ruling on Mr. Metuh’s application for the variation of the terms of his (Mr Metuh’s) bail condition.
As part of his ruling on the application for the variation, Mr. Abang adjusted an earlier decision he made on the expected location of assets belonging to Mr. Metuh’s sureties.
Mr. Abang, who had earlier ruled that the sureties must have assets only in Maitama area of Abuja, said the sureties could now have assets from any part of the Federal Capital.
He however added that no further appeals would be considered on the variation of bail terms, stressing that the defendants had the prerogative of appealing the decision of the court in a higher court if they were not satisfied by it.

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Sahara weekly online is published by First Sahara weekly international. contact [email protected]

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Business

Landmark Judgment: Federal High Court Dismisses ₦50bn Oil Spill Claim Against ExxonMobil

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15 hours ago

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May 13, 2026

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Landmark Judgment: Federal High Court Dismisses ₦50bn Oil Spill Claim Against ExxonMobil

 

The Federal High Court sitting in Uyo has dismissed a ₦50 billion lawsuit filed against ExxonMobil, sued as Mobil Producing Nigeria Unlimited, now Seplat Energy Producing, in a ruling analysts say could significantly reshape oil spill litigation and compensation claims in Nigeria’s petroleum sector.

Delivering judgment on April 29, 2026, Justice Onyetenu held that the suit instituted by the Ejige Ore Njenyisi Muma & Fishing Co-operative Society Ltd was incompetent and liable to dismissal for lack of jurisdiction.

The plaintiffs had sought ₦50 billion in damages over an alleged hydrocarbon spill said to have occurred on September 12, 2021.

However, counsel to the defendant, Chinonso Ekuma of KENNA LP, successfully argued that the claimants failed to disclose any legally recognisable violation attributable to the oil firm.

In its findings, the court held that the plaintiffs failed to establish any actionable wrongdoing against the defendant.

A key element in the court’s decision was the Joint Investigation Visit (JIV) Report tendered by the plaintiffs themselves, which showed that the alleged spill incident was confined within ExxonMobil’s operational facility and did not impact the members of the cooperative society or their sources of livelihood.

The court further ruled that claims arising from such incidents must be pursued strictly under the statutory compensation framework provided in Section 11(5) of the Oil Pipelines Act, rather than through common-law claims founded on negligence or nuisance.

Justice Onyetenu held that the plaintiffs’ attempt to circumvent the statutory regime by framing the suit as a tort action rendered the matter incompetent before the court, thereby depriving it of jurisdiction.

Legal analysts say the judgment reinforces the supremacy of the Oil Pipelines Act in determining compensation procedures relating to oil pipeline incidents and environmental claims in Nigeria.

The ruling is also seen as strengthening the evidential weight of Joint Investigation Visit Reports, particularly in cases where such reports indicate no direct impact on claimants or host communities.

Industry observers believe the judgment will have far-reaching implications for future oil spill litigation, especially regarding the procedural requirements for compensation claims against oil operators.

The court’s decision further provides clarity for operators within Nigeria’s energy sector by reaffirming that compliance with Section 11(5) of the Oil Pipelines Act is mandatory and cannot be sidestepped through alternative legal formulations.

While K.O. Uzuokwu appeared for the plaintiffs, the defence was led by Chinonso Ekuma of KENNA LP on behalf of ExxonMobil.

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Bank

Union Bank Honoured by ASBON at Nigeria National SME Business Awards

Published

21 hours ago

on

May 13, 2026

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Union Bank Honoured by ASBON at Nigeria National SME Business Awards

 

 

Lagos, Nigeria – Union Bank of Nigeria has reaffirmed its reputation as a strong supporter of Nigerian businesses, receiving the Best SME Growth Banking Initiatives Award for 2025 from the Association of Small Business Owners of Nigeria (ASBON) at the Nigeria National SME Business Awards, held recently in Lagos.

The award was presented to the Bank in recognition of its strategic leadership in advancing the growth and resilience of small and medium-sized enterprises, through a differentiated suite of solutions designed to enable business expansion and long-term value creation.

Receiving the award on behalf of the Bank, Ayokunnumi Abraham, Head of SME Segment at Union Bank, described the recognition as a strong endorsement of the Bank’s commitment to supporting small and medium-sized businesses. He said:

“We are honoured to receive this recognition, which reflects Union Bank’s continued commitment to helping SMEs grow by making banking simpler, faster, and more accessible. Through enhancements to our specialised platforms such as Union360, we have meaningfully reduced the time it takes for businesses to come on board and begin transacting. These improvements have shortened onboarding, increased digital adoption among our SME customers, and supported the acquisition of new business clients. Our focus remains on delivering practical solutions that help Nigerian businesses thrive.”

Organised by ASBON in partnership with the Lagos State Government through the Ministry of Commerce, Cooperatives, Trade and Investment, the event convened stakeholders from the public and private sectors to recognise individuals and organisations driving meaningful impact across Nigeria’s SME ecosystem.

Union Bank remains focused on deepening its support for SMEs through customer-led solutions and processes that strengthen business growth across the ecosystem.

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Bank

Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion 

Published

1 day ago

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May 12, 2026

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*Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion* 

_By AGP News 

 

*UNITED KINGDOM OF ATLANTIS* — In a move signaling a push into international markets, the Royal Throne of the United Kingdom of Atlantis on Sunday announced the corporate transformation of Atlantian Crown Bank LLC into *Arizona Global Bank LLC*, as part of a wider restructuring to position the institution for global banking and financial innovation.

 

The announcement was made at a press conference in the UKA capital by *HRM Queen Amb. Cletus C. Leaticia*, Chief Executive Officer of the newly named bank. She told reporters the rebranding marks _“more than a name change”_ and reflects a strategic pivot toward digital finance, cross-border investment, and modern banking standards.

 

_“This transformation represents our commitment to innovation-driven banking and our vision to become a globally competitive financial institution,”_ Queen Leaticia said.

 

*Licensing Process Underway*

According to the Department of Financial Administration and Corporate Affairs, which issued the official communication, Arizona Global Bank LLC has formally begun the process of applying for a *Banking Operational Licence* under UKA’s financial regulatory framework.

 

Once licensed, the bank plans to operate as a modern financial enterprise focused on four pillars:

1. Innovation-driven banking and digital financial solutions

2. Corporate financing and structured investment services

3. International financial partnerships and cross-border trade facilitation

4. Financial inclusion initiatives

 

Bank officials stressed that the institution will _“maintain strict compliance with all banking regulations and supervisory standards”_ set by UKA financial authorities.

 

*Strategic Shift Amid Global Ambitions*

Management described the rebranding as part of a broader restructuring initiative to _“strengthen the bank’s international identity, expand its global financial footprint, and align operations with contemporary banking standards.”_

 

Representatives called the licensing and rebranding process a _“major milestone”_ aimed at supporting economic growth, international trade, and cross-border investment initiatives.

 

*No Disruption to Existing Commitments*

Addressing potential concerns from clients and partners, management reassured stakeholders that _“all existing institutional commitments, operational objectives, and long-term strategic plans remain fully intact throughout the transition process.”_

 

The Royal Throne indicated that further updates on the licence approval, commencement of operations, corporate partnerships, and investment programmes will be released through official UKA and Arizona Global Bank LLC channels.

 

_The Department of Financial Administration and Corporate Affairs, Royal Throne of United Kingdom of Atlantis, issued the official statement._

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