JUST IN: Former President Muhammadu Buhari Passes Away in London

By Miracle Oyewale

Former Nigerian President Muhammadu Buhari has passed away in London.

The news of his death was confirmed by his former aide, Bashir Ahmad, in a post shared on X (formerly Twitter). Ahmad wrote:

“INNA LILLAHI WA INNA ILAIHIR RAJI’UN. The family of the former president has announced the passing of Muhammadu Buhari, GCFR, this afternoon in a clinic in London. May Allah accept him into Aljannatul Firdaus. Amin.”

President Buhari served as Nigeria’s civilian leader from 2015 to 2023, following a previous tenure as the country’s military head of state from 1983 to 1985. He was widely known for his anti-corruption drive and policies aimed at economic reform and national security.

Further details regarding burial arrangements are expected to be announced by the family, in line with Islamic traditions.

Lagos Speaker, Turkish Airlines, International Stars Grace The Expatriates Business Awards (TEBA) 2025

The Honourable Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, Lokman Balkan, Turkish Airlines’ topshot, actresses Lilian Bach, Ronya Man, and Ghanaian-born broadcaster extraordinaire, Riyah Abdul, among others, are part of the high-flying guests and award recipients at the just-concluded The Expatriates Business Awards (TEBA) 2025.

The unique event, which was held at the prestigious Oriental Hotel, Lekki, Lagos, on Sunday, July 6th, 2025, celebrated Nigeria’s multicultural economic ecosystem. The colourful gathering was attended by industry notables including the Honourable Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, who was the event’s Chief.

The black-tie affair welcomed an elite audience of diplomats, corporate leaders, international investors, global citizens, and distinguished professionals whose presence reinforced the deepening bond between Nigeria and the international business community.

Anchored by the dynamic duo of Egypt-born media advisor Rania Elewa, who also went home with the award of Diaspora Trailblazer, and Cameroonian music-comedy sensation Danny Green, popularly known as 237 TownCryer, the night was a celebration of global entrepreneurship, cultural synergy, and social impact.

Unlike conventional award platforms which primarily honour local players, TEBA is a trademarked celebration of Nigeria’s diverse economic tapestry, recognizing the contributions of ethnic enterprises and migrant professionals who are actively shaping Nigeria’s GDP and socioeconomic advancement.

The event featured captivating exhibitions, cultural showcases, music, and comedy, creating a glamorous yet soulful atmosphere of unity and recognition.

Among the night’s highlights was the presentation of coveted awards to exceptional individuals and companies whose impact spans various sectors, including aviation, media, entrepreneurship, and entertainment. Notable honourees include: Turkish Airlines, an international airline which won Expatriate Airline of the Year 2024/25, Lilian Bach, the top actress, who won the Diaspora Distinction Award.

Also, Ghanaian born broadcaster extraordinaire, Riyah Abdul was TEBA’s Diaspora Revelation of the Year 2024/25, Ronya Man, a quiet but talented woman was the Cross Over Actress of The Year 2024/25, Avsatel Communications Ltd., an aviation company owned by Austra born Georg Eder MBA won Aviation Safety Champion of the Year 2024/25.

Others are MACE Industries Ltd., a notable aviation technology company owned by Mr. Manoj Tagjiani, which is the Aviation Technology Company of the Year 2024/25, while Cameroon-born Danny Green (237 TownCryer) went home with the Cross-Border Talent of the Year 2024/25.

On the list of the awardees is a talented entrepreneur, Pascale Olumayowa Rafqa who won the Expatriate Entrepreneur of the Year 2024/25, Mrs. Alice Adetona (Oyinbo Olonje), a Polish-born self-made chef was announced as Inter-Cultural Culinary Ambassador for her passion for Nigeria’s culture and culinary skills while Gambia beautician, Zainab Fatty was TEBA’s 2024/25 Serial Entrepreneur of the Year, and Swiss-born Mrs. Janice Udogu, married to a Nigerian won the Heritage Embrace Award for her love for the nation’s customs and tradition.

Others are CCECC, a top-flight international construction company with Construction Company of the Year 2024/25, and Nigerbirds Engineering – Emerging Aviation Powerhouse

Rt. Hon. Obasa, in his remarks, applauded the organisers for spotlighting the indispensable role of expatriate communities in Nigeria’s development journey. He noted that platforms like TEBA not only promote inclusivity and business diplomacy but also help position Lagos and Nigeria as a hub for multicultural growth and investment.

As one of the night’s hallmarks, partners and sponsors received premium visibility before an audience of decision-makers, industry influencers, and public officials, further reinforcing the value of public-private-international collaboration.

TEBA 2025 has cemented its place as one of the leading platforms promoting intercultural recognition, business excellence, and global synergy in Nigeria’s corporate and entertainment landscape.

A Federal Capital Territory (FCT) High Court in Abuja has nullified arbitration proceedings at the International Chamber of Commerce (ICC), London, instituted against indigenous energy company, Aiteo Eastern E&P Company Limited, by a group of lenders who partly financed its acquisition of Oil Mining Lease (OML) 29.

The court declared the arbitration a violation of its subsisting injunctive orders.

Aiteo acquired OML 29 and the Nembe Creek Trunk Line (NCTL) from Shell in a landmark $3.01 billion transaction concluded in 2014. The deal was largely funded by billionaire founder Benedict Peters, who contributed approximately $1 billion of his personal funds to close the purchase and restart production.

Justice S.B. Belgore gave the ruling on Tuesday, July 8, 2025, while delivering judgment in an application filed by Tempo Energy Nigeria Ltd., a minority equity contributor to the OML 29 deal.

According to court documents, the claims originated from a multi-party financing arrangement dating back to 2014. Tempo Energy alleged that several of the defendants breached their obligations under the governing facility agreements and, without including Tempo, initiated proceedings in the High Court of England and Wales and commenced arbitration before the ICC on December 11, 2020.

To protect its interest, Tempo filed a suit on January 14, 2021, seeking injunctive relief to restrain the defendants from taking any further steps in the UK proceedings and the ICC arbitration.

In a related application, filed by Tempo through its counsel, Kehinde Ogunwumiju, SAN, the FCT High Court granted interim injunctions on January 22, 2021, restraining the defendants from proceeding with the arbitration and the English court case pending the determination of the motion on notice. The court also consolidated pending applications and adjourned the matter.

The suit, marked FCT/HC/CV/079/2021, listed Aiteo Eastern E&P Company Ltd, African Finance Corporation, Ecobank Nigeria Ltd, First Bank of Nigeria, Guaranty Trust Bank, Fidelity Bank, Shell Western Supply & Trading, Shell International Trading & Shipping, Citibank Europe (UK Branch), Citibank N.A. (London Branch), FBN Trustees, Zenith Trustees, FBN Merchant Bank, Sterling Bank, Union Bank, Zenith Bank, and Dame Elizabeth Gloster as defendants.

Dissatisfied with the High Court’s ruling, the defendants filed an appeal at the Court of Appeal, Abuja Division. However, despite the subsisting interim injunctions issued by the High Court, the defendants continued with the ICC arbitration proceedings in London from 2021 to 2024.

In a unanimous judgment delivered on April 25, 2025, the Court of Appeal affirmed the validity and subsistence of the January 2021 injunctions. The appellate court dismissed the appeal as an abuse of court process, awarded N1.5 million in costs against the defendants, and ordered an accelerated hearing of the pending applications at the High Court. It also warned that any actions taken in defiance of valid court orders may be declared void.

Following the appellate court’s judgment, at the resumed hearing before the High Court on May 20–22, 2025, Tempo Energy applied for a restorative order to nullify the ICC arbitration. Ogunwumiju, SAN, argued that the arbitral proceedings were conducted in flagrant violation of the court’s orders.

Counsel to Ecobank Nigeria and other defendants, including Mrs. Joke Aliyu and Mr. Babatunde Fagbohunlu, SAN, filed a preliminary objection challenging the jurisdiction of the court. They argued that the FCT High Court lacked the competence to restrain foreign arbitral proceedings.

Justice Belgore dismissed the objection, describing it as incompetent and an abuse of court process. He ruled in favour of Tempo Energy and declared the ICC arbitration proceedings null and void, having been conducted in violation of subsisting court orders.

The court reiterated that the interim orders of January 22, 2021, remain valid and binding on all parties. It directed the defendants to desist from taking any further steps in defiance of its orders and awarded an additional N500,000 in costs to Tempo Energy. The matter was adjourned to September 29, 2025, for hearing of the consolidated interlocutory applications.

Aiteo had earlier sued Shell Petroleum Development Company of Nigeria, alleging fraud, deceit, and misrepresentation in the 2014 sale of its 30% stake in OML 29. In suit number FHC/ABJ/C8/738/2021, filed before a Federal High Court in Abuja, Aiteo claimed Shell failed to fully disclose the actual condition of the oil wells and asked for $2.5 billion in compensation.

The company cited the poor condition of the asset and repeated attacks by oil thieves on its infrastructure as reasons for its inability to meet its financial obligations to creditors.

According to documents, the consortium of lenders committed approximately $2 billion in financing: Zenith Bank – $323 million, First Bank and GTBank – $200 million each, Fidelity Bank – $175 million, AFC – $125 million, Ecobank Nigeria and Union Bank – $100 million each, Sterling Bank – $60 million, and Shell Western – $512 million.

Peters’ total equity contribution included $898,237,697.35 in cash and an additional $257 million at closing to cover fees, ancillary costs, and restart production. Tempo Energy, among other small equity holders, contributed $136 million.