Connect with us

News

Court orders attachment of SEC accounts, CBN and 10 other banks to satisfy N5.6billion Judgement sum in favour of SPDC

Published

on

court

 

   
A Federal high court sitting in Lagos south West Nigeria has ordered that all Securties and Exchange Commission’s SEC accounts or funds in the custody of Central bank of Nigeria and ten other commercial Banks in Nigeria should be attached to satisfy the judgement sum of N5,643,753,404.92,awarded in favour of SPDC West Multipurpose co-operative society Limited by Lagos Division of Appeal court. The order was issued on  2nd of November,2020. The order of the court was sequel to an application filed before the court by the counsel to SDPC multipurpose cooperative Society Limited, Barrister Ayoola Ajayi.
 In an affidavit in support of the application for order Nisi attaching the accounts or funds of the judgement Debtor SEC in the custody of the Garnishees in any or all of their branches anwhere in Nigeria or within the jurisdiction of the court sworn to by a legal practitioner Mr Solomon Ojo filed and argued before the court by Mr Ayoola Ajayi, the deponent averred that on 3rd of June,2015, the investment and Securities Tribunal delivered judgement in the case of SDPC multipurpose cooperative Society Limited versus Security Exchange Commission,in which the Tribunal dismissed the claim of the cooperative Society.
       Being dissatisfied with the decision of the Tribunal, the cooperative Society filed Appeal against the judgement at the court of Appeal.
        On 24th June 2019, the court of Appeal delivered judgement, whereby the appeal was allowed,and set aside the Tribunal’s judgement and replace it with the judgement of the court of Appeal.
       In its judgement, the Appellate court granted  all the claims of the Cooperative Society as claimed in its amended statement of claim except for the claim for general damages of N500million which was reduced to N100
Million.There is no appeal against the said judgement of the Court of appeal.
      Pursuant to the order for registration of the said judgement which the court made on 4th March 2020, the said judgement was registered in the Federal high court’s Register of Judgement and a certificate of judgement dated 4th of March 2020 was accordingly issued.
    The court of Appeal granted the judgement Creditor’s claim for its return money in the sum of N1,118,481,000.
00 as claimed in the Appellant’s claim,plus interest thereon at the rate of 14%from 2nd January 2008 up till the date the judgement Debtor satisfied the judgement fully.
      The court of Appeal also granted the judgement Creditor claim for general damages by awarding the sum of N100 million as general damages against the judgement Debtor SEC instead of the sum of N500 million claimed by appellant.
     The return money in the sum of N1,118,481,000 plus interest thereon at the rate of 14% per annum from 2nd of January,2008 as awarded by the court of Appeal has accumulated up to the sum of N5,543,753,404.92 as at 20th of March,2020.
       The Judgement debtor SEC has not paid the aforesaid judgement sum  to the cooperative Society up till date despite having become obliged to pay the Judgement sum to the Judgement creditor from 24th of June 2019 when the court of appeal ordered the judgment debtor to pay the Judgement sum plus interest to the cooperative Society .
       Consequently,Mr Ajayi urged the court in the interest of justice to grant the application as the Garnishees and the Judgement Debtor SEC will not be prejudiced if the application is granted.
The presiding Judge,Muslim Hassan in his ruling said,Upon reading the affidavit in support of the motion Ex-parte sworn to by Solomon Ojo Male, Nigerian citizen and legal practitioner with the law firm of Oak Partners of 187 of Igbosere Road,Lagos and filed at the Federal high court registry,Ikoyi,Lagos.
 After hearing Ayoola Ajayi with Solomon Ojo Judgement/Creditor/applicant’s application Ex-parte dated and filed on the 23rd day of March,2020, the applicable laws, the relief sought including the exhibit attached and the written address of the Counsel for the Applicant, this application is granted as prayed. That the Garnishees are directed to appear before the court to show cause why an order should not be made against the Garnishees for payment of the amount of debt due to and owing or accruing from the Garnishees to the Judgement debtor or so much thereof as will satisfy the total outstanding Judgement sum due and owed by the Judgement debtor under the Judgement Creditor against the judgement debtor in the judgement entered for the Judgement of the investment and Securities Exchange Tribunal delivered on the 3rd June 2015 in the total sum of N5,643,753,404,92.until the entire judgement sum is fully  satisfied.
   
That order Nisi is granted, attaching the accounts or funds of the Judgement Debtor in the custody of the Garnishees in any of their branches anywhere in Nigeria or within the jurisdiction of this court.
That the Garnishees are directed to immediately disclose the comprehensive statement of the accounts and sums in whatever form or shape standing to the credit of the Judgement debtor with the Garnishees in the said account as at the date of service of the order of the Court on the Garnishees and such disclosure must be on oath and verify affidavit sworn and filed before the court and serve on Judgement creditor within seven days of the service of the order of the court. Meanwhile, the case has been adjourned till 7th of December,2020 for further hearing.

News

Kindness Defeats Witchcraft: Apostle Suleman’s Cross-Over Lecture at ‘Mercy Night’

Published

on

By

Evil is very much alive and well in this world. We are reminded of this fact as we see it play out almost often. Although evil occurs and serves as a stark reminder of the cruelty that exists within humankind, showing kindness can easily defeat evil acts, which is witchcraft, lectures popular servant of God and General Overseer of the Omega Fire Ministries (OFM) worldwide, Apostle Johnson Suleman.

 

At the ministry’s Cross-Over service on Tuesday 31st of December, 2024 tagged ‘Mercy Night’, the Restoration Apostle, ably present with his wife, Reverend Lizzy Suleman, warned us to “never avenge ourselves”. To the contrary, Apostle Suleman cautions; “do not be overcome by evil, but overcome evil with good”.

 

Usually, the natural response of man when he is hurt is to hurt back. But, Suleman says “God tells us something different”, quoting Romans 12:19–21: “Vengeance is mine, I will repay. If your enemy is hungry, feed him; if he is thirsty, give him something to drink; for by so doing you will heap burning coals on his head. Do not be overcome by evil, but overcome evil with good.”

 

According to the servant of God, not only should you refuse to take revenge, but you should intentionally do good to those who you would consider your enemies. Showing them love and kindness would so confuse and frustrate your enemy that the result would be them turning to God.

“If you want to see witchcraft being rubbished in your life, engage In kindness. To recover means to regaining possession. To recover means a comeback, the return of control. To recover means to improve and to become better. To recover is renewal,” Suleman teaches, suggesting that hate must not define us.

Continue Reading

News

Agbado Youths Celebrate Historic Succession, Rally Support for Prince Akintoye as King

Published

on

By

 

Agbado Community in Ogun State erupted in jubilation on December 27, 2024, as the youths led the town in a grand end-of-year celebration to honor the historic succession of the late patriarch, High Chief Anthony Kayode Akinrinade, by his son, Prince Akintoye Olusola Akinrinade.

The event marked a significant milestone in Agbado’s journey toward justice and stability following a prolonged Obaship crisis that stifled the community’s development for over three decades. The crisis, marked by legal battles and defiance of court orders with suit number CA/IB/75/2020, was recently resolved by the steadfast judgment of the Court of Appeal, Ibadan Division. The court ruled in favor of Prince Akintoye Olusola as the rightful successor, allowing him to continue the legal fight to restore order and dignity to Agbado.

 

For 35 years, Agbado thrived as a hub of agricultural trade and economic prosperity, with 147 villages under its jurisdiction. However, internal strife caused by selfish ambitions led to stagnation and disunity. The High Court delivered a landmark judgment five years ago, but resistance by a self-proclaimed monarch delayed the community’s progress.

On the 30th of October, 2024, the Court of Appeal officially recognized Prince Akintoye Olusola Akinrinade as the ‘Stand-In’ Plaintiff, a move that has rekindled hope for the community. This recognition also symbolizes a continuation of the legacy of the late High Chief Anthony Akinrinade, whose leadership was revered by all.

The festive event, organized by the Agbado Youth Forum, drew dignitaries, elders, chiefs, and community leaders. Baale Patoko, a key figure in the community, expressed optimism about the succession, stating, “The whole of Agbado strongly believes that by 2025, Prince Akintoye will be crowned king, bringing renewed peace and progress to our land.”

Pa Theophilus Amodu, a respected elder, praised Prince Akintoye’s exemplary character, noting, “He has taken after his father in good deeds and enjoys the trust and respect of the people.”

Mr. Amodu, President of the Agbado Youth Forum, echoed this sentiment, affirming the unwavering support of the youth for Prince Akintoye’s emergence as king. “His leadership will undoubtedly usher in peace, harmony, and development in Agbado,” he said.

The event concluded with renewed hope and determination among the people of Agbado, who are confident that Prince Akintoye’s ascension to the throne will mark the beginning of a new era for the community.

Continue Reading

News

Ex banker, Femi Olushakin, others arraigned for alleged armed robbery

Published

on

By

 

A former banker turned businessman, Olufemi Olalekan Olushakin alongside two others on Thursday were arraigned before the Chief Magistrate’s Court in Ibadan, Oyo State for alleged robbery.

Olushakin —now at large— and the two suspects — Ayomide Akanbi and David Adewale— were alleged to have conspired to commit felony to-wit armed robbery and thereby committed an offence contrary to and punishable under Section 6 (B) of the Robbery and Firearms (Special Provision) Act Cap RII Vol. 14 Laws of the Federal Republic of Nigeria 2004.

In the case with Charge number: MI/1672C (Commissioner of Police, Oyo State Vs. Ayomide Akanbi, M, 32 and David Adewole, M, 47): “Count 1: That you (1) Ayomide Akanbi ‘M’ (2) David Adewole ‘M’ and one Olusakin Olufemi Olalekan ‘M’ now at large on 13th December, 2024 at about 5:00pm at Global Signature Hotel, New Gbagi Road, Ibadan in the Ibadan Magisterial District did conspire together to commit felony to-wit Armed Robbery and thereby committed an offence contrary to and punishable under section 6 (B) of the Robbery and Firearms (Special Provision) Act Cap R II Vol. 14 Laws of the Federal Republic of Nigeria 2004.

“Count 11: That you (1) Ayomide Akanbi ‘M’ (2) David Adewole ‘M’ and one Olusakin Olufemi Olalekan ‘M’ now at large on the same date, time and place in the above Magisterial District while armed yourselves with guns and some other dangerous weapons did attack one Akinola Dare ‘M’ and also dispossessed him of cash sum of Two Million, One Hundred and Forty Thousand Naira (N2,140,000.00) only, property of Global Signature Hotel Limited and thereby committed an offence contrary to and punishable under Section 1 (2) of the Robbery and Firearms (Special Provision) Act Cap R II Vol. 14 laws of the Federal Republic of Nigeria 2004.”

The Police Prosecutor, Inspector Kefas Usman told court that Olushakin —a former branch manager with a second generation bank and now Chairman of LAC Autos & Spare Ltd.— alongside Akanbi, Adewale and others on the night of Friday, December 13, allegedly forcefully gained entrance into Global Signature Hotel in Ibadan by disarming the security men at the gate.

Usman stated that the suspects made forceful and unlawful entry into the hotel, went straight to the control room, destroyed the CCTV memory and cut off the CCTV machine.

“After vandalizing it, they went to the POS machine, took the machines of the company, went to the manager of the hotel, one Dare Akinola, at gunpoint took him to the cash registry to collect all the sales of the week including room sales, lodgment, bar & hall payment totalling over N2,140,000 (Two million, One hundred and forty thousand Naira).

“They went to all the rooms, rounded up all the customers, and forcefully asked them to transfer money into Olushakin’s personal account during the robbery.

“At gunpoint, they gathered everybody to the reception, laid them down at gunpoint and in fear of their lives, the customers made cash transfers to Olushakin’s accounts, they vandalized some other things, took the lodgment book, computers, and other equipment.”

The Chief Magistrate, Mrs. Giwa Babalola, ordered that the suspects should be remanded at the Agodi Correctional Center in Ibadan.

She adjourned the case till January 29, 2025 for further mention.

However, with Olushakin’s absence during the arraignment, the Oyo State Police Command has launched a manhunt for him with a bounty of N5 million placed on him to the public for anybody with useful information leading to arrest.

Continue Reading

Trending News