Business
Union Bank MD, Others Face Fraud Charges
Interestingly, a federal high court has ordered bosses of Citi Bank, Union Bank and 14 other persons to appear before it to answer criminal charges of fraudulent diversion of N10.7 billion belong to a client
The federal high court sitting in Lagos, has issued a writ of summon to C. S. Sankey, chairman, Nigeria International Bank Limited, Citi Bank; Emeka Emuwa, managing director, Union Bank Plc and Olusola Fagbure, legal adviser/company secretary, Citibank, to appear before it on Monday, January 25 in a N10.7 billion criminal charge preferred against them and 14 others by the federal government of Nigeria.
The issuance of the writ of summon and its service to the accused persons on Thursday, January 14, was sequel to an approval by President Muhammadu Buhari for Abubakar Malami, attorney-general of the federation, AGF and minister of justice, to relist the case and begin a fresh charge against them for allegedly defrauding Michael Emerah, an Onitsha-based business mogul and chairman/managing director, Micmerah Group of Companies Limited. Emerah was defrauded of huge sums of money in 2001 under the pretence of assisting him import luxury buses and new motor spare parts.
In the writ of summon, the AGF also ordered the restoration of the attorney-general’s fiat earlier granted to Chris Uche, prosecution counsel, to prosecute the case on behalf of the federal government but which was dropped by the former AGF in 2011.
The order came as a result of the action of Mohammed Adoke, former AGF, who entered a notice of discontinuance (Nolle prosequi) of the case in May 2011 and at the same time withdrew the fiat granted to the prosecution counsel.
In a letter conveying Buhari’s order to the complainant in the case M. Abdullahi, deputy director of prosecution of the federation, DDPF, in the federal ministry of justice, stated that Buhari’s order to re-open the case for the interest of justice, was in line with his administration’s change mantra and his determination to revisit all high profile fraudulent cases, aimed at stamping out corruption within the system in all facets of the nation’s economy.
In a strongly worded letter by Emerah to Buhari, dated August 10, 2015 the complainant alleged that the case was discontinued in a corrupt manner by the former AGF. It is believed Emerah’s complaint prompted an advice from the DDPF to order the re-opening of the case in the interest of justice because of the contentious nature of the case. Besides, going by the petitions and counter-petitions in the file, the DDPF said that the office of the present AGF was convinced that there was sufficient evidence to prosecute the suspects and that the proper venue to determine the interests of the parties involved should be the court and not chambers of the AGF, so that no party would have a feeling that the ministry of justice could not dispense justice.
Emerah had in the petition to the president, alleged that Uche’s fiat to prosecute the case on behalf of the federal government was fraudulently withdrawn by the former AGF, who equally entered the notice of discontinuance (Nolle pprosequi) in a corrupt manner.
Based on the order for the reinstatement of the charge and restoration of the AGF’s fiat to Uche, the prosecution headed to the federal high court, Lagos and slammed a fresh 20-count charge of conspiracy, diversion of federal government’s revenue into their private pockets, fraud, falsification of documents, presentation of untrue documents, making of forged documents, counterfeiting of documents, corrupt enrichment, obtaining money under false pretence, obtaining property under false pretence, fraudulent invasion of duty, conspiracy to steal, conspiracy to commit felony and untrue declaration against the accused persons which prompted this latest writ of summon by the court to appear before it on January 25.
In the fresh charge before the court, other accused persons in the matter are as Peter H. Harris, Adekunle Oladosun, Okechi Emeka Egwu, Lulu Ndubuka, Kabiru Bello, J. E. Eriagbon, a principal staff of Central Bank of Nigeria, CBN; Samson Ebie, Steve Obodomechine, Mikky Dons Nigeria Limited, Mark Anaele, Ariyo Oyowole Odunala, Peter Bamidele Oriade and Obianwa Chuba.
In the suit, the prosecution alleged that the accused persons had on or about January 31, 2001 at Lagos State within the jurisdiction of the federal high court, induced Micmerah International Agency Limited, by means of false pretences and with intent to defraud, delivered to themselves through the Citi bank the sum of about N250 million under the guise of being used for offsetting the purported import finance facility.
The prosecution also alleged that the accused persons had on the same date and venue, conspired to commit an offence to wit: to induce Micmerah by means of false pretence and with intent to defraud, to deliver the sum of N55 million to Mikky Dons Nigeria Limited being money meant for payment of Customs Duty on four Volvo Luxury buses and two 40-feet containers imported into Nigeria by the said Micmerah International Agency Limited.
The prosecution further alleged that the accused persons knowingly falsified an affidavit purported to have been sworn to by one Tawa Ibikunle on April, 11 2003 before Lagos State high court justice for the purpose of fraudulently affecting the release of four Volvo luxury buses and two 40-feet containers from Nigeria Customs and Exercise Department.
The accused persons were further charged in count eight for allegedly making forged document, namely Union Bank of Nigeria plc, Customs revenue receipt Nos. CRR: 092802, 092803, 092804, 092805 and 092700 for the sum of N55 million knowing it to be false and with intent that it may be acted upon as genuine and also to defraud Micmerah International Agency Limited and the federal government of Nigeria.
They were also charged for conspiracy to contribute to the economic adversity of the federal government of Nigeria by diverting the sum of N55 million to themselves being money meant for the payment of customs duty in respect of four Volvo luxury buses and two 40-feet containers, property of Micmerah International Agency Limited, adding that they equally obtained the amount by means of false pretences, attempted to evade the payment of same amount into government coffers and conspired to steal and corruptly enrich themselves with the same N55 million.
Business
Adron Homes Celebrates 14 Years of Excellence, Reaffirms Commitment to Affordable Housing and Sustainable Communities
Adron Homes Celebrates 14 Years of Excellence, Reaffirms Commitment to Affordable Housing and Sustainable Communities
Adron Homes and Properties Limited, a leading player in Nigeria’s real estate industry, proudly celebrates its 14th Anniversary, marking over a decade of transformative impact in affordable housing delivery, sustainable community development, and structured urban growth across the country.
Over the last fourteen years, Adron Homes has evolved into a nationally recognised real estate powerhouse, delivering over 60 livable estates and communities across Nigeria and enabling more than 100,000 Nigerians to achieve their property ownership dreams. With strategic developments spanning Ibeju Lekki, Lekki-Epe, Badagry, Shimawa, Papalanto, Sagamu, Abeokuta, Ibadan, Osun, Ekiti, Abuja, Nasarawa, Niger State, and other emerging urban corridors, the company continues to reshape access to land and housing through affordability, innovation, and long-term planning.
Speaking on the milestone, the Chairman/CEO of Adron Group, Aare Adetola Emmanuelking, described the anniversary as a celebration of vision, resilience, and unwavering commitment to empowering Nigerians through property ownership.
“Fourteen years ago, we set out with a clear vision to make property ownership accessible and achievable for every hardworking Nigerian. Today, we celebrate not only the growth of Adron Homes but the countless families whose dreams have become reality through our communities. Our journey has always been about impact, empowerment, and building environments where people can truly thrive.”
Highlighting the company’s philosophy of developing structured environments rather than just selling land, the Chairman emphasised Adron Homes’ focus on sustainable urban planning and community building.
“At Adron Homes, we build cities, not just estates. Each development reflects thoughtful planning, infrastructure, accessibility, and a long-term vision for modern living. As Nigeria continues to urbanise rapidly, our mission is to ensure that growth is inclusive, structured, and sustainable.”
Aare Adetola Emmanuelking also acknowledged the role of customers, staff, stakeholders, and media partners in the company’s sustained growth and national relevance.
“This milestone is a testament to the trust of our customers, the dedication of our workforce, and the unwavering support of our partners and stakeholders. Together, we have demonstrated that affordable housing can be delivered with quality, innovation, and integrity.”
Looking ahead, Adron Homes reaffirmed its commitment to expanding mass housing solutions, embracing technology-driven real estate innovations, and strengthening partnerships that contribute to Nigeria’s economic development and housing accessibility.
“The future of Adron Homes is defined by innovation, expansion, and deeper community impact. We remain committed to democratizing property ownership, building sustainable communities, and shaping the future of real estate in Nigeria for generations to come.”
As Adron Homes marks 14 years of excellence and national impact, the company continues to position itself as a catalyst for structured urban development and a trusted partner in the realization of property dreams across Nigeria.
Business
Adron Homes at 14: From Shimawa to Over 60 Livable Communities, Building Cities Beyond Estates
Adron Homes at 14: From Shimawa to Over 60 Livable Communities, Building Cities Beyond Estates
Fourteen years ago, what began as a visionary real estate development effort in Shimawa, Ogun State, has evolved into one of Nigeria’s most recognizable housing success stories. Today, Adron Homes & Properties stands as a major force in structured urban development, with over 60 livable communities and estate dwellings spread across key regions of the country. Its journey reflects a deliberate mission that is not just to sell land, but to build functional cities where Nigerians can live with dignity, security, and a strong sense of community.
At a time when Nigeria faces rapid urbanization and an ever-growing housing deficit, Adron Homes has embraced an approach rooted in planning and affordability. From its earliest developments, the company adopted a city-building model that integrates structured layouts, accessible infrastructure, and community-focused design. Roads, drainage systems, green areas, and designated social spaces are incorporated into estate planning, transforming empty land into organized residential hubs.
The story of Adron’s growth mirrors Nigeria’s evolving urban landscape. Beginning in Shimawa, the company strategically expanded into major growth corridors, including Lagos, Ogun, Oyo, Osun, Ekiti, Abuja, Nasarawa, Niger, and beyond. Its estates have not only provided shelter but have also influenced the emergence of new residential districts, encouraging organized expansion and helping to reduce the challenges associated with unplanned settlements.
Central to the company’s success is its commitment to affordability. Through flexible payment structures and innovative housing initiatives, Adron Homes has opened the door to homeownership for thousands of Nigerians who previously considered property ownership out of reach. This democratization of housing has empowered families, strengthened communities, and supported economic growth through increased property investment and local business opportunities within estates.
Beyond physical structures, Adron Homes prioritizes community building. Estates are designed as living ecosystems where families interact, children grow in secure environments, and entrepreneurs find opportunities to thrive. The emphasis on social cohesion has helped transform residential spaces into vibrant neighborhoods, reinforcing the idea that housing development should nurture human connection as much as physical infrastructure.
As Nigeria continues to urbanize, Adron Homes’ model demonstrates that real estate development can be both commercially viable and socially impactful. Its projects serve as reference points for emerging residential corridors, attracting further investment and setting standards for organized development across multiple regions.
Celebrating fourteen years of growth and innovation, Adron Homes remains committed to shaping Nigeria’s urban future through sustainable planning, inclusive housing solutions, and community-driven development. From its humble beginnings in Shimawa to a nationwide network of livable communities, the company’s journey stands as a testament to the power of vision, resilience, and a steadfast belief that cities are built not just with structures, but with people at their heart.
Business
14 Years of Democratizing Landownership: How Adron Homes Is Redefining Mass Housing in Nigeria
14 Years of Democratizing Landownership: How Adron Homes Is Redefining Mass Housing in Nigeria
For decades, homeownership in Nigeria remained an elusive dream for millions, restricted by rising rents, unstable housing markets, and mortgage systems beyond the reach of the average citizen. Fourteen years ago, Adron Homes and Properties Limited set out to challenge this reality with a bold and disruptive vision: to make land and homeownership affordable, accessible, and achievable for everyday Nigerians.
Founded on the principle that housing should be a right and not a privilege, Adron Homes has steadily emerged as one of Nigeria’s most influential mass housing developers. At the heart of its success is an affordability-driven model that prioritizes inclusion without compromising quality. Through flexible payment plans, low initial deposits, and extended installment options, the company has broken long-standing financial barriers that once excluded civil servants, young professionals, artisans, traders, and Nigerians in the diaspora from owning property.
Fourteen years on, this vision has translated into tangible impact across over 60 estates nationwide, strategically located in major and emerging growth corridors including Ibeju-Lekki, Lekki–Epe, Badagry, Shimawa, Papalanto, Sagamu, Abeokuta, Ibadan, Osun, Ekiti, Abuja, Nasarawa, and Niger State. Each estate represents more than infrastructure, it reflects Adron Homes’ commitment to decentralizing development and expanding access to property ownership beyond traditional urban centers.
Through this mass housing initiative, thousands of Nigerians have successfully transitioned from tenants to landlords, many achieving property ownership for the first time. Unlike conventional real estate models that emphasize exclusivity and luxury, Adron Homes has consistently aligned its offerings with the real income realities of the Nigerian population, ensuring that housing solutions remain practical, inclusive, and sustainable.
Beyond affordability, trust has remained a defining pillar of the Adron Homes brand. The company places strong emphasis on secure land titles, transparent documentation, and regulatory compliance, protecting subscribers from land disputes and fraudulent transactions. This focus on integrity has strengthened customer confidence and positioned Adron Homes as a dependable gateway to long-term wealth creation through real estate.
As Adron Homes marks its 14th anniversary, its mass housing journey stands as more than a corporate achievement but a national intervention. By restoring dignity, promoting financial security, and transforming thousands of property ownership dreams into reality, Adron Homes continues to play a vital role in shaping Nigeria’s housing landscape and building a future where more citizens can truly call a place their own.
-
celebrity radar - gossips6 months agoWhy Babangida’s Hilltop Home Became Nigeria’s Political “Mecca”
-
society6 months agoPower is a Loan, Not a Possession: The Sacred Duty of Planting People
-
news6 months agoTHE APPOINTMENT OF WASIU AYINDE BY THE FEDERAL GOVERNMENT AS AN AMBASSADOR SOUNDS EMBARRASSING
-
Business6 months agoBatsumi Travel CEO Lisa Sebogodi Wins Prestigious Africa Travel 100 Women Award















You must be logged in to post a comment Login