Business
Keystone Bank sued for alleged non-remittance of $17 million to TSA
An Abuja-based lawyer, Johnmary Jideobi, has sued Keystone Bank for alleged violation of the Treasury Single Account (TSA) policy.
The bank was accused of not remitting $17 million to the TSA.
The bank is among the seven banks the federal government alleged to have connived with CBN some government agencies to illegally conceal $793.2 million meant to have been transferred to the TSA domiciled in the Central Bank of Nigeria (CBN).
The government had, in the suit, alleged that $17 million out of the said amount was illegally hidden in Keystone Bank.
The fund in Keystone Bank and the six other banks were alleged to be revenues, donations, transfers, refunds, grants, taxes, fees, dues, tariffs etc accruable to the federal government from different ministries, departments, parastatal agencies.
But the Nigerian government, on August 9, 2017 withdrew the suit.
The application with the suit No. FHC/ABJ/CS/1269/17 has the bank (Keystone), the Attorney General of the federation and President of Federal Republic of Nigeria defendants.
According to the court processes by Jideobi, which was released to newsmen Wednesday, the plaintiff (Jideobi) said on June 13, the 1st defendant in this suit filed its counter-affidavit and a written address dated June 12 in opposition to the plaintiff’s originating summons filed on December 21, 2017.
Jideobi in the papers informed that, in the counter-affidavit of nine (9) paragraphs, the 1st defendant offered mealy-mouthed, tenuous, weak and bare denials of the affidavit of facts that accompanied the plaintiff’s originating summons.
According to Jideobi, the 2nd and 3rd defendants in this suit, despite being served with the plaintiff’s originating summons as far back as February 14 have not filed any counter-affidavit or written address in opposition to the claims which the Plaintiff has tabled before Tribunal of Justice.
Jideobi therefore wants the court to declare that paragraph 4.21 of the guidelines on the implementation of the TSA/ e-collection prepared by the Office of the Accountant-General of the Federation dated September, 2015 is unconstitutional and therefore void in view of the combined provisions of Sections 80(1) and Section 162 (1) of the amended 1999 Constitution of the Federal Republic of Nigeria.
He prayed for an order declaring void the purported approval of the president (3rd defendant) for the exemption of Nigerian Petroleum Development Company Ltd.’s account from the TSA and other approval(s) given to any other ministry, department and agency of the federal government of nigeria same being unconstitutional and ultra vires the powers of the president.
Jideobi also prayed for an order of perpetual injunction restraining both the 2nd and 3rd defendants and every person or authority acting under their command or exercising the executive powers of the federation from further granting or purporting to grant a waiver to any person, ministry, department or agency of the federal government from complying with the peremptory dictates of treasury single account ordained by the provisions of sections 80(1) and section 162 (1) of the amended 1999 constitution of the Federal Republic of Nigeria.
He also sought a mandatory order compelling the 1st defendant to promptly sweep into the treasury single account all the liquid of NPDC and particularly, the unremitted funds being about $17,000,000 and such other unremitted funds belonging to the federal government of Nigeria being unlawfully withheld from the federation account domiciled with the 1st defendant.
November 6 has been fixed for hearing of the case.
Business
PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status
*PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status
To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.
UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.
In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.
Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.
We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.
Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.
Thank you.
Business
Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour
Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour
Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”
Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.
The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.
This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.
Speaking on the collaboration, the Laffmattazz team stated:
“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”
As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.
With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.
⸻
About Laffmattazz
Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.
About First Bank of Nigeria Limited
First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.
Business
MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria
MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria
Anyone who has tried to get a loan to buy a house in Nigeria knows the drill: endless forms, property valuation, and eventual down payment of a minimum 25% or more on the property. Sometimes, interest rates could go as high as 30% per annum, while the typical loan limit is N50 million.
Now, FirstBank is making homeownership more attractive.
FirstBank, in partnership with the Ministry of Finance Incorporated (MOFI), has introduced the MREIF Home Loan. MREIF loan is a game-changer, offering a single-digit interest rate of 9.75% per annum, with a loan amount of up to ₦100 million and a repayment period of up to 20 years. This is perfect for salaried individuals, including Nigerians in the diaspora, looking to purchase homes in approved locations.
The MREIF loan stands out with its lower interest rate, higher loan amount, and flexible equity contribution as low as 10%. This makes it an attractive option for those seeking affordable homeownership.
You are one quick decision away from being a landlord.
If you’ve been waiting for the right time to buy a home, FirstBank’s MREIF Home Loan is the smartest route to owning property in Nigeria today. Visit the FirstBank website https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ to get started.
-
news4 months agoWHO REALLY OWNS MONIEPOINT? The $290 Million Deal That Sold Nigeria’s Top Fintech to Foreign Interests
-
celebrity radar - gossips3 months agoDr. Chris Okafor Returns with Power and Fire of the Spirit -Mounts Grace Nation Altar with Fresh Anointing and Restoration Grace on February 1, 2026
-
celebrity radar - gossips6 months agoEnd of an Era: Nigeria Mourns Evangelist Dr. Uma Ukpai, 80
-
celebrity radar - gossips4 months agoProphet Kingsley Aitafo Releases 2026 Prophecy: ‘Nigeria Will Rise, but the World Must Prepare for Turbulence’



You must be logged in to post a comment Login
You must log in to post a comment.