society

N10 Billion, $5 Million Suit: Petrocam Company To Know Fate May 23

Published

6 years ago

May 8, 2019

Interestingly, a Federal High Court in Lagos has adjourned till 23rd of May, 2019 to determine either debt recovery suit of N10,062,643,928.72 and $5,247,693,.83 filed before the court by Union bank Plc against an Oil Company, Petrocam Trading Nigeria and two others, Mr. Patrick Ilo and Petrocam Trading LTD South Africa can be termed as abuse of court process or not.

In a statement of claim filled before the court by Union bank Plc’s lawyer, Chief Ajibola Aribisala SAN.,the bank averred that the business structure is such that while Petrocam Trading Nigeria had direct allocation for AGO importation, the company enters into joint venture agreement with interested companies that have PPPRA allocation for importation of Petrol.

This is to assist companies that have allocations but lacks the needed funding to do their business thereby sharing both risk and reward with the company.

Consequently, in pursuance of the banker customer relationship between September 29,2014 and 21st of April 2015, Union bank granted the company Import Trade Facilities to finance the importation of Petroleum products which as at 10th January, 2018, Petrocam Trading Nigeria Limited and its Managing Director/alter Ego of the company, Mr Patrick Ilo are indebted to Union bank as follows: the sum of N10,062,643,928.82 and US$5,247,963.82 with interests still running at prevailing rate.

The bank further averred that although the sum of N200million was remitted into the opening account with the bank, no explanation was made by the company on the failure to remit the whole sovereign debt notes FX and interest differentials or subsidy payments in the sum of N2,162,248,931.01 received from the Federal Government on the said letter of credit finance by the bank before the account was abandoned by the company.

Consequently, the bank’s claims against the defendants are as follows: N10,062,643,928.72, and $5,247,693.82 with accrued interest and N20million as the cost of instituting this action.

However, the defendants in their application filed and argued before the court by their counsel, Mr Gboyega Oyewole SAN urged the court to dismiss or strike out the suit on the ground that they have subsisting legal action against the bank on the same subject matter before the Lagos State High court,therefore the present suit amounts to abuse of court process.

In a counter argument and submission canvassed by Chief Ajibola Aribisala,the bank contended that the suit does not constitute an abuse of court process to the one at the Lagos high court filed by the defendants as parties, reliefs and issues are not the same. The cause of action is equally not the same.

“While the suit filed at the Lagos State High Court is predicated on acts of gross negligence allegedly committed by the bank, the suit filed by the bank before the Federal high court is a debt recovery of suit,therefore the institution of the suit at the Lagos state high court by the defendants does not preclude the bank from bringing this action before this court,therefore in the interest of justice urge the court to dismiss the defendants’ application with heavy cost”.

society

Deadly Stampedes Spark NASRE Outcry: ‘End Poverty, Save Lives'”

Published

34 minutes ago

December 23, 2024

Sahara Weekly

Deadly Stampedes Spark NASRE Outcry: 'End Poverty, Save Lives'"

NASRE Demands Action as Food Stampede Tragedies Expose Systemic Failures”

The Nigerian Association of Social and Resourceful Editors (NASRE) has condemned the rising death toll from food queue stampedes, which claimed 67 lives across Nigeria in just four days, labeling it a “heartbreaking reflection of systemic failures.”

In a statement on Monday, NASRE’s Media Director, Lateef Owodunni, described the tragedies as a grim consequence of worsening poverty and the government’s inability to protect its citizens.

The group first mourned the victims of a December 18 stampede at a Christmas funfair in Ibadan, where 35 children tragically lost their lives.

“This horrific incident highlights the dire need for better planning and safety measures at public events, especially those involving children,” Owodunni stated.

NASRE also expressed sorrow over the deaths of 10 people, including children, during a food aid distribution at Holy Trinity Catholic Church in Abuja. Offering condolences to affected families, the group described the incident as a “wake-up call for the nation’s conscience.”

The association further decried the fatal stampede at a rice distribution event in Anambra that killed 22 people and injured 32 others, calling for immediate reforms in the management of relief efforts.

“These tragedies paint a grim picture of a nation plagued by poverty and failing social support systems. Acts of charity should not lead to preventable deaths. The government must revamp its approach to palliative distribution to prioritize safety and dignity,” Owodunni emphasized.

NASRE stressed that the root cause of such tragedies is deep-seated poverty and urged the government and private organizations to implement sustainable solutions.

“No Nigerian should lose their life in the pursuit of food or assistance. This is a national disgrace and a call to action for all stakeholders to safeguard the well-being of our most vulnerable citizens,” the statement concluded

society

Family Accuses Kwara Police of Torturing Man to Death Over Debt, Investigation Underway

Published

6 hours ago

December 23, 2024

Sahara Weekly

Family Accuses Kwara Police of Torturing Man to Death Over Debt, Investigation Underway

The death of 35-year-old Jimoh AbdulQodir Tunji in the custody of the Kwara State Police Command has left his family and the local community in shock, with accusations of police brutality emerging after the man’s tragic passing.

Tunji, a poultry farmer, was allegedly arrested on Friday, December 20, following a petition filed by his employer over an unpaid debt of N220,000. His family has accused police officers of torturing him to death while in custody, a claim that has sparked widespread outrage.

A heartbreaking video surfaced online on Sunday, showing Tunji’s grieving mother and relatives accusing the police of causing his death. In the emotional footage, his mother tearfully cried out, “My son did not kill anyone. He only owed someone. They have killed my son. Please, come to my aid. The police at the headquarters have killed my son. His name was Kadri. He was a good boy in the community. They beat him to death in police custody. They didn’t allow us to see him. Blood was gushing out of his nose.”

In response to the allegations, the Kwara State Police Command released a statement confirming the incident. The police spokesperson, Ejire-Adeyemi Toun, stated that Tunji had been invited by the police on charges of obtaining money by “false pretence” and confirmed that an investigation had already begun to determine the cause of death.

“The Kwara State Police Command is aware of an unfortunate incident that led to the tragic loss of one Mr. Jimoh AbdulQodir, which occurred on December 20, 2024,” the statement read. “The deceased was invited on an alleged case of obtaining money by false pretence to the sum of N220,000. Discreet investigations into this incident have commenced to ascertain the cause. Further developments on the outcome will be communicated as it progresses, as no stone will be left unturned.”

The case has drawn significant attention, as it marks the third time in under five months that the Kwara State Police have been implicated in the death of a suspect. Earlier this year, police officers were accused of causing the deaths of 27-year-old Suleiman Olayinka, an asthmatic patient, and Kwara State Polytechnic student Ishola Abdulqoyum, who was allegedly fatally shot by officers in September.

In a bid to ensure accountability, the Inspector-General of Police (IGP), Kayode Adeolu Egbetokun, instructed the Force Criminal Investigations Department (FCID) to take over the investigation into Tunji’s death. The IGP expressed his condolences to the bereaved family and reassured the public of a thorough and impartial investigation.

During a meeting with the family on Sunday, the IGP said, “The IGP has ordered the FCID to handle the case with utmost diligence and ensure a conclusive and impartial investigation. He further reassured the family and the general public that the Nigeria Police Force remains committed to upholding the highest standards of accountability, professionalism, and respect for human rights.”

The case has reignited concerns about police brutality in Kwara, as the region grapples with rising incidents of alleged police violence. As the investigation unfolds, the family and the public are closely watching to see if justice will be served.

society

Seven Dead in Light Aircraft Crash in Jalisco, Mexico

Published

7 hours ago

December 23, 2024

Sahara Weekly

Seven Dead in Light Aircraft Crash in Jalisco, Mexico

At least seven people have died following the crash of a light aircraft in a remote, heavily forested area of Jalisco, western Mexico, local authorities confirmed on Sunday.

The aircraft, a Cessna 207, was en route from La Parota in the neighboring state of Michoacan when it went down. Jalisco Civil Protection reported the crash site was in an area difficult to access, complicating rescue and recovery operations.

In a statement on social media, Civil Protection confirmed that “preliminary reports” from the scene indicated that seven people had died. Their identities have not yet been released, and authorities are working to confirm further details.

The agency also mentioned that a fire at the crash site was extinguished, and risk mitigation efforts were carried out to prevent additional damage. “We are waiting for forensic investigators to arrive to remove the bodies and rule out the presence of other victims,” the statement added.

The cause of the crash remains under investigation, with authorities working to gather more information on the incident.