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Falana has decided to retract the lawsuit disputing the sale of Polaris Bank

Tosin Ranks
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Falana has decided to retract the lawsuit disputing the sale of Polaris Bank

The Federal High Court in Lagos has on Wednesday rejected a lawsuit by human rights lawyer Femi Falana (SAN), who sought to challenge the sale of Polaris Bank.

Justice Lewis Allagoa dismissed the case after Falana, the plaintiff, submitted an application to discontinue the suit.

The suit, labeled HC/l/CS/87c/23, targeted the Central Bank of Nigeria and Polaris Bank Nigeria Ltd.

Falana had questioned whether the CBN could legally sell Polaris Bank for N50bn, considering previous revitalization efforts costing N1.3tn.

He also sought a declaration that the October 19, 2022, sale of Polaris Bank was illegal and violated relevant laws.

Falana decided to withdraw the suit following the Federal Government’s takeover of Polaris Bank, citing the government’s acknowledgment of the sale’s illegality.

The CBN’s counsel argued against striking out the case, emphasizing that it should be dismissed, and mentioned an outstanding N200,000 penalty awarded against Falana.

However, Justice Allagoa dismissed the suit, stating that Falana’s actions were in the public interest, sparing him any punishment.

EFCC has assembled a lineup of 15 witnesses in the N4Bn theft case against Obiano

Tosin Ranks
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EFCC has assembled a lineup of 15 witnesses in the N4Bn theft case against Obiano

The Economic and Financial Crimes Commission (EFCC) announced its intention to present 15 witnesses in the N4bn theft case against former Anambra State governor, Willie Obiano.

The prosecuting counsel, Slyvanus Tahir, assured the court of the EFCC’s readiness, emphasizing the documentary evidence and 15 witnesses available.

Obiano, who pleaded not guilty, had his lawyer request bail, leading to a discussion on administrative bail.

The judge granted bail but restricted Obiano’s movement to the court’s jurisdiction, ordering the EFCC to deposit his travel documents with the court registrar.

The case is scheduled to continue on March 4, 5, 6, and 7, with allegations of diverting security votes between 2014 and 2022.

Obiano is accused of transferring funds to entities unrelated to state affairs, violating money laundering laws.

 

Resident association reports that 10 individuals from the Ibadan explosion are still unaccounted for

Tosin Ranks
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Resident association reports that 10 individuals from the Ibadan explosion are still unaccounted for

The Bodija Estate Residents Association in Ibadan revealed on Wednesday that approximately 10 individuals remain unaccounted for after the explosion on January 17.

The tragic incident on Dejo Oyelese street in Ibadan resulted in five fatalities, 77 people sustaining various injuries, and damage to 58 houses.

During a consultative meeting, the Association’s President, Muyiwa Bamgbose, shared that the count might now be closer to eight, nine, or even 10 missing persons based on neighborhood reports.

They presented a street map to the government, striving to accurately account for individuals house by house.

The umbrella body, BERA, representing all communities in Bodija, called for significant assistance for the victims to rebuild their lives, emphasizing the ongoing need for care and support for those profoundly affected.

Members of the Peoples Democratic Party’s Board of Trustees visited Governor Makinde, expressing condolences and commending his swift response to the incident.

Senator Adolphus Wabara, the BoT chairman, lauded Makinde’s engineering acumen in ordering structural integrity tests on approximately 230 affected buildings.

Wabara urged a comprehensive investigation to uncover the incident’s cause, preventing future occurrences.

Governor Makinde appreciated the visit, emphasizing the humanitarian aspect, especially for affected children, and pledged his commitment to the PDP’s unity, vowing to play a positive role in ensuring the party remains united and strong.

 

Why President Buhari declined to make his WASC result public —Adesina

Tosin Ranks
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Why President Buhari declined to make his WASC result public —Adesina

The former Special Adviser on Media and Publicity to President Muhammadu Buhari, Femi Adesina, unveils the reasons behind the ex-president’s decision not to disclose his WAEC result during the 2015 and 2019 presidential elections in his book, ‘Working with Buhari: Reflections of a Special Adviser, Media and Publicity (2015 – 2023).’ Buhari expressed deliberate resistance to releasing his West African School Certificate, stating that he allowed critics to “please themselves.”

Despite public outcry in the lead-up to the 2019 elections, Buhari maintained that his credentials were with the Secretary to the Military Board.

However, in November 2018, he was presented with a Letter of Attestation by officials of the West African Examination Council.

Buhari explained that he had always possessed the certificate but refrained from releasing it to let critics have their way.

In the book’s fifth chapter, Buhari emphasized the importance of his WASC examinations for attending the Defence Services Staff College, India (1973), and the United States Army War College.

He recounted his educational journey alongside Gen. Musa Yar’adua, highlighting the rigorous military examination in English, Mathematics, and General Knowledge.

Adesina’s book also delves into Buhari’s decision not to dismiss the embattled Central Bank of Nigeria governor, Godwin Emefiele, amidst speculations about his 2023 presidential ambitions.

Additionally, Buhari expressed a preference for extraditing Nnamdi Kanu, the leader of the proscribed Indigenous People of Biafra, to face trial in Nigeria rather than resorting to elimination.

 

Aiyedatiwa designates former NASS clerk as deputy governor, elevating the appointment

Tosin Ranks
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Aiyedatiwa designates former NASS clerk as deputy governor, elevating the appointment

Ondo State Governor, Mr. Lucky Aiyedatiwa, has appointed Mr. Olaide Adelami, a former Deputy Clerk of the National Assembly, as the state’s deputy governor.

This decision followed the governor’s dismissal of all commissioners and special advisers earlier on Wednesday.

The Chief Press Secretary to the governor, Mr. Ebenezer Adeniyan, stated that Adelami’s nomination has been sent to the state House of Assembly for approval, with an official announcement expected later in the day.

Adelami, a retired Deputy Clerk to the National Assembly since April 2018, is from Owo Local Government Area, the same as late Governor Rotimi Akeredolu.

Furthermore, Aiyedatiwa dissolved the State Executive Council, relieving Senior Special Assistants and Special Assistants of their duties. All affected officials are instructed to hand over government properties in their possession.

The governor expressed gratitude for their contributions and services to the state.

Aiyedatiwa assumed office as the substantive governor on December 27, 2023, succeeding the late Governor Akeredolu, who passed away at the age of 67 while receiving treatment for prostate cancer in a German hospital.

Additional details are expected to follow.

 

Getting to Know Kunle Remi: From GUS Winner to Leading Man

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Getting to Know Kunle Remi: From GUS Winner to Leading Man

Oyekunle Opeyemi Oluwaremi, popularly known as Kunle Remi, is a multi-talented Nigerian personality making waves in the world of entertainment. Born on October 18, 1988, in Gboko, Benue State, Nigeria, he is currently 35 years old and originally hails from Ekiti State, though he spent his formative years in Ibadan, Oyo State.

Kunle Remi pursued an academic journey that led him from studying Fisheries and Wildlife Management at the University of Ibadan to further studies in Tourism and Hospitality Management at The University of Sheffield, England. He later honed his skills in Acting, Filmmaking, and Directing at the New York Film Academy, graduating in 2014. Notably, he achieved recognition by winning the 7th edition of Gulder Ultimate Search in 2010, themed “The Ultimate Hero,” held in Omo Forest, Ogun State.

In 2013, Kunle Remi made his debut at the Academy Awards (Oscar) nomination event in Beverly Hills, California, showcasing his burgeoning career. His foray into modeling began with ISIS models, featuring in ad campaigns for renowned brands like Airtel, DStv, MTN, and Access Bank.

Returning to his roots, Kunle Remi co-hosted the 12th season of Gulder Ultimate Search in 2021 alongside Toke Makinwa, bringing his wealth of experience to the iconic Nigerian reality TV show.

Transitioning to the big screen, Kunle Remi has left an indelible mark on Nollywood. His breakout moment came in 2015 when he played Imoh in the romantic drama film “Falling.” Subsequently, he showcased his versatility in roles, portraying Mauyan in the 2020 comedy-drama “Introducing the Kujus,” Dipo in the 2021 hit movie “The Prophetess,” and Saro in the 2022 epic fantasy film “Aníkúlápó,” directed by Kunle Afolayan.

In 2023, he took on the character Sevi Brown in the movie “Flaws,” adding another layer to his impressive filmography.

Beyond the spotlight, Kunle Remi embarked on a significant personal journey. On Friday, January 19, 2024, he celebrated his traditional wedding with Boluwatiwi Oye, culminating in a grand ceremony at the altar on Saturday, January 20, 2024.

 

Credit Adesina Kasali (medullar concept)

AfDB introduces its inaugural sustainable bond

Tosin Ranks
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0
AfDB introduces its inaugural sustainable bond

The African Development Bank has unveiled a $2 billion global social bond set to mature on February 25, 2027.

This marks the institution’s inaugural social bond issuance under the newly established Sustainable Bond Framework introduced in September 2023. The three-year tenor bond carries a 4.125% interest rate.

The AfDB, maintaining a stable Aaa/AAA/AAA/AAA rating from Moody’s, S&P, Fitch, and Japan Credit Rating, positioned the sustainable bond program to consolidate and strengthen its existing Green and Social Bond initiatives.

Notably, this 3-year Social Benchmark stands as the bank’s first global benchmark for the year, strategically aligning with the robust reopening of primary markets in January 2024.

The issuance, amidst a dynamic week in the USD SSA markets, saw the launch of 8 benchmarks totaling $17.25 billion within two days.

With a compelling order book exceeding $3.5 billion, the bond garnered significant support from diverse global investors, including central banks, official institutions, and bank treasuries, constituting 78% of the book.

Geographically and in terms of investor profiles, the distribution was well diversified, with 76 orders in the book.

Notably, the social label attracted considerable interest from ESG investors, comprising 38% of participants in the book.

The mandate for the bond was disclosed on January 17 at 15:00 GMT, and the initial pricing thoughts indicated strong investor demand, reaching $2.1 billion by the time the books officially opened on Thursday, supported by Indications of Interest during the overnight session.

 

CITN provides training for staff at the Gambia Revenue Agency

Tosin Ranks
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0
CITN provides training for staff at the Gambia Revenue Agency

The Chartered Institute of Taxation of Nigeria recently conducted a comprehensive five-day training in Lagos for six senior personnel from the Gambia Revenue Authority.

This initiative aims to equip participants with advanced skills in tax management, addressing the current manual operation of the Gambia’s tax system.

Notably, the Tax Manager from the Gambia Revenue Authority acknowledged Nigeria’s advanced and fully automated tax administration.

Describing it as a ‘train the trainer’ program, he emphasized the importance of this training in implementing full automation for efficient utilization of taxes in The Gambia.

 

EKEDC reaffirms its dedication to delivering high-quality services

Tosin Ranks
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0
EKEDC reaffirms its dedication to delivering high-quality services

Eko Electricity Distribution Company has reiterated its dedication to significant investments in infrastructure development and corporate social responsibility.

The company’s General Manager of Corporate Communications, Babatunde Lasaki, emphasized that substantial infrastructure upgrades were pivotal for the outstanding performance achieved in 2023.

Lasaki expressed the company’s commitment to elevating customer satisfaction by year-end, highlighting ongoing efforts to enhance supply quality.

He disclosed plans to finalize new injection substations in key locations, addressing the growing demand for power due to expansion and population increase.

Additionally, Lasaki outlined initiatives undertaken in 2023, including the procurement of over 150 transformers and the addition of 100 operational vehicles to the fleet, aiming to improve response capabilities.

Furthermore, he affirmed the company’s dedication to social philanthropy, focusing on education, health, environment, safety, sports, and entrepreneurship to make meaningful impacts across various societal strata.

EKEDC serves parts of Lagos and Ogun States.

Chery Automobile experiences a robust sales surge, soaring by 52.6%

Tosin Ranks
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0
Chery Automobile experiences a robust sales surge, soaring by 52.6%

Chery Automobile reported a robust performance in 2023, with the sale of 1,881,316 vehicles, reflecting an impressive 52.6% growth from the previous year.

The disclosure, made by Carloha, Chery’s exclusive national partner in Nigeria, highlighted the export of 937,148 vehicles, showcasing a remarkable 101.1% increase.

The Chinese automaker’s achievements surpassed industry growth rates, solidifying its pivotal role in the global automotive market.

Chery, recognized for innovation and quality, not only maintained its status as China’s top passenger car exporter for 21 consecutive years but also set new benchmarks globally.

The company excelled in various areas, securing top positions in the “Top 50 Chinese Global Brand Builders’ Report” and J.D. Power’s IQS.

Additionally, Chery achieved a five-star rating in Australian A-NCAP collision testing, emphasizing its commitment to safety and exceeding expectations across vehicle series like Tiggo 8, Tiggo 7, and Tiggo 4.

The automaker reiterated its dedication to environmentally friendly solutions through the production of eco-friendly vehicles and sustainable manufacturing practices.

This success story serves as both a celebration of Chery’s accomplishments and an inspirational call to greatness, resonating through the continued growth of the Chery brand in the Nigerian automotive market.

 

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