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First Bank Chairman in N122 billion bond mess



A bond deal of N122 billion gone awry has shockingly earned the Chairman of First Bank Plc, Ms. Ibukun Awosika, a suspended prison sentence from a Federal High Court in Lagos. Trouble started for Awosika, her bank and her Managing Director, Dr. Adesola Adeduntan, following First Bank’s inability to honour the payment of N122 billion bond guaranteed by the bank in a judgment debt against Shell Petroleum Development Company (SPDC).

The N122 billion is a spin-off from an oil spill suit instituted by Ejama Community in Ogoniland, Rivers State. It would be recalled that 10 indigenes of Ejama Community had at the Federal High Court in Port Harcourt sued Royal Dutch Shell Plc Netherlands, Royal Dutch Shell Plc United Kingdom and SPDC over alleged oil spills that occurred when Shell operated in the community.

Justice Ibrahim Buba had in his judgment in 2010 awarded N17 billion to the representatives of the Ogoni people.

The court had equally granted the Ejema Chiefs 25 per cent interest charge on the principal sum of about N17 billion. Shell had then appealed against the judgment and applied for a stay of execution of the judgment pending the appeal. As a condition for granting the stay of execution, the court required Shell’s bankers, First Bank Plc, to provide a guarantee of the judgment sum.

This condition was complied with. But Shell’s appeal failed at the Court of Appeal on technical grounds, ostensibly because it filed its processes out of time and without regularising them.

Consequent upon the failure of the appeal and the refusal of First Bank to honour the payment of judgment debt which the bank had early guarantee through a bond, the applicants, through their lawyers, Chief Lucius Nwosu (SAN), A.A. Lawal -Rabana (SAN) and Ken C. Njemanze (SAN) filed Form 48 and Form 49 (committal to prison) against the bank, its chairman and managing director.

In convicting First Bank, its chairman, and managing director, Justice Buba had dismissed all the applications filed by the bank’s counsel Chief Wole Olanipekun (SAN), describing contempt proceedings as abuse of court process and being statue bar.

However, Justice Ibrahim Buba suspended the serving term of conviction of the bank and its officials for three months to enable them purge themselves of the contempt.

The judge held that if by September 6 2018 the convicts failed to purge themselves of the contempt proceedings, they shall immediately be sent to prison.

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Fake DSS officers Prowl Abuja banks, rob customers

Tell victim: “We will condemn your legs”




DSS officers used to illustrate the story
DSS officers used to illustrate the story [Photo Credit: Daily Post]

Notwithstanding the presence of policemen at bank branches in Abuja, several bank customers are coming under attack by gun-trotting men who proclaim themselves as Department of State Security (DSS) operatives before robbing helpless bank customers outside the bank premises while policemen on guard look on.

The fake DSS officers who prowl from one bank to another target bank users walking out of bank building, forcing them into their vehicle where they are disposed of cash and valuables.

One of the victims, Mark Oamen, narrated his experience to SATELLITE TIMES saying: “On June 28, 2018, I withdrew the sum of N90,000.00 from the Utako branch of UBA on Obafemi Awolowo Way. As I stepped out of the bank, and walked towards my car, stern looking men in a blue Toyota Corolla blocked my way, shouted at me and commanded me to enter their car. They accused me of being a fraudster who had been on their watchlist. They told me:

“We are from the DSS and you have been on our watch, enter this car now or we condemn your legs”. Oamen said two men in the car threatened him.

Oamen further added that fear of being shot and his innocence forced him to obey them:

“As they drove away, they signaled to two policemen on the other side of the road that they will come back after they had taken me to their command.”

He further said that his demand to be taken to nearby Utako Police Station was ignored, as the men retorted that they do not report to the Police. Meanwhile, they searched him, took the N90,000 he had just withdrawn from the bank. They also seized his phone and his ATM (debit card), and requested for the pin of the ATM threatening to cripple him if he gives them a wrong pin. The men made it clear they will verify the correctness of the pin with their POS machine inside their car.

The men further searched Oamen and took away his identity card, and finally dumped him along the Expressway.

On how the scary incident finally ended, Oamen continued: “When they got to Katampe district by the popular Nicon junction, they asked: “Can any union member identify you in this park?”. I had told them that am member of the transportation union, I replied that I’m not sure. They zoomed off, further stopped again by Tipper garage along Kubwa road and repeated the question with a command that I should get down and check if I can be identified. Soon after I alighted, they zoomed off with all my valuables.

“With my card and pin that I was forced to release, they withdrew N100,000 from my account”.

When SATELLITE TIMES visited the branch where the incident took place for cross-check, a staff of the bank, Alex was obliged to invite Oamen back to the bank. Oamen permitted our reporter access to his statement of account which confirmed the withdrawals he had mentioned earlier.

Findings at Utako police station revealed that they have received several reports of such incidents.

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Police Promotion Scandal: NOPRIN mount pressures on President to investigate irregularities

… Reveals how officers perfect moves to get illegal promotion




IGP, Ibrahim Idris
IGP, Ibrahim Idris

A coalition of 46 Civil Society Organisations under auspices of the Network on Police Reform in Nigeria (NOPRIN) has mounted pressure on President Muhammadu Buhari to order for an immediate investigation into irregularities in police promotion in Nigeria.

According to the coalition, an immediate investigation into irregularities in police promotion, should be part of government’s strategies to address police ineffectiveness and insecurity in the country.

Reacting to SATELLITE TIMES investigative report on police promotion, National Coordinator of NOPRIN, Okechukwu Nwanguma held that it was this type of irregularity, favoritism and corruption characterizing officers promotions in the Nigeria Police Force (NPF) that is lowering morale, killing dedication, breeding disenchantment and indiscipline, and ultimately promoting insecurity in the country.

SATELLITE TIMES recently revealed how Jimoh Moshood, the Police Public Relation Officer (PPRO) was promoted twice in six months while Abdulkarim Abdullahi, the personal Assistant to the current Inspector General of Police, Ibrahim Idris, was promoted to the rank of Chief Superintendent of Police (CSP) whereas his Course 35 mates are Superintendent of Police (SP), having been promoted to that rank only last year.

Jimoh Moshood [Photo Credit: Daily Post]

The Police spokesman, Moshood, joined the Force in the year 2000 as Cadet ASP on Course 20. Within 18 years he has risen to the rank of Deputy Commissioner of Police. In 2015 Moshood was promoted to the rank of CSP, while in 2018 he was treated to double promotion at different times to the rank of ACP and DCP.

The Personal Assistant to the IG, Abdullahi, with AP No.57593 joined the Nigeria Police in year 2000 on Course 35. His coursemates of Course 35 were promoted to the rank of Superitendant of Police (SP) in 2017. Abdullahi is a beneficiary of the recent promotion to the rank of Chief Superintendent of Police.

Yet another beneficiary is Charles Onoh, who until 2015 was the Escort Commandant to the former Vice President Namadi Sambo. Documents obtained by Satellite Times show that Onoh with AP No. AP86577 of Course 21, joined the force on 15th August, 2002. His rise to the position of Chief superintendent of Police started when he was serving the nation’s No. 2 Man.

The documents available to SATELLITE TIMES further showed that of a total of 630 officers promoted from SP to CSP, 49 were discovered to belong to two ineligible groups of Course 22 who joined the force in 2005 with AP No. ranging from 94075-98225 and those of Course 35 who joined in 2000 with AP No. ranging from 50304-87826. These 49 officers whose mates are still SP may have unduly favoured given that they had not spent the minimum three years on their last rank to qualify for the Annual Performance Evaluation Report (APER).

NOPRIN in a statement made available to SATELLITE TIMES alleged that: ” Moshood , the Force PRO was promoted to ACP in March 2018 amidst allegations that his promotion followed an intercepted phone call between a security officer attached to the President and the outgoing Chairman of the Police Service Commission, Mr. Mike Okiro where the security official solicited illicit promotion favour from Okiro on behalf of the PRO . This allegation has not been investigated. It ought to.

“Less than three months later, the same Moshood has again been promoted to DCP. The reason offered for this controversial promotion is that his fellow PROs in other uniformed services are wearing ranks equivalent of a DCP and therefore, he had to be brought up to level with those other ones.

“This justification sounds, in my view, wooly and preposterous. Are there no DCPs in the NPF who can be appointed to replace Moshood? Considering his many gaffes as PRO, why should he be retained as PRO?

“It is this type of irregularity, favoritism and corruption characterizing police promotions in the NPF that is lowering morale, killing dedication, breeding disenchantment and indiscipline, and ultimately promoting insecurity in the country.

“Many of Moshood’s mates and superiors who have been left behind by this unmerited promotion will never be happy, and rightly so and will not be encouraged to put in their best. I’m told that this is Okiro’s parting ‘gift’ as he exits the PSC and that many other officers benefitted from the ‘gift’ with some who did not merit it paying some fees. Already, I’m receiving complaints from grudging and disgruntled officers and what they say will outrage anyone concerned about fairness and how corruption and injustice can breed insecurity in a country”.

Base on this NOPRIN is calling President Buhari to order for an immediate investigation into irregularities in police promotion in Nigeria as part of government’s strategies to address police ineffectiveness and insecurity in the country.

President Muhammadu Buhari

President Muhammadu Buhari

Besides, the group also expressed it stand on state police, held that Nigeria Police is over-centralised. “Nigeria is too big a country to be policed by a one-size-fits- all central police. This centralised structure of the Nigeria police is one of the key factors militating against police efficiency and effectiveness. Everywhere, policing is local”.

It called on the National Assembly to commence the process of amending the Constitution to allow for the establishment of State police and also produce a bill that will guarantee the establishment of independent and professional state police services.

“Now, the Senate has also comes up to lead the push for state police.

NOPRIN believes that State Police should only be established on a basis of strict adherence to the principles of operational autonomy, and must be based on sound professional practice in appointment, operations and control.

There should be defined parameters of cooperation which provide, for example, that where a state does not fully cooperate with its counterpart or the Federal Police on any matter, the Federal Police should take over and deal with the matter as is common in other jurisdiction”..

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Scores feared dead in tanker explosion along Lagos-Ibadan expressway



Scene of the explosion along Lagos-Ibadan expressway
Scene of the explosion along Lagos-Ibadan expressway

Many are feared to have been killed as a tanker carrying fuel on Thursday exploded along Otedola Bridge in Lagos State.

The tanker was leaving Lagos when it got engulfed in fire, causing panic and leaving trapped victims of the explosion helpless.

Reports of the unfortunate accident spread on Twitter as many users shared pictures and videos as it happened.

Officials of the Lagos State Emergency Management Agency and Lagos Fire Service were mobilised to salvage the situation, a tweet by the Rapid Response Squad read.

In another recent Tweet by the Rapid Response team, more emergency service ‘responders’ have been deployed to the scene.

“More emergency service responders are at the scene now. The police, LASEMA, LASAMBUS, LASTMA, Lagos Fire Service, other law enforcement agencies are all on ground,” the tweet read.

Casualty figures remain unknown as at the time of this report.

See photos and videos below:

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