Tag: Court

Nova Commercial Bank has urged the Federal High Court in Lagos to grant an order winding up Sunrise Products Ltd for failure to liquidate a $2,587,891.21 and N276,567,150.63 alleged debt.

The bank averred that Sunrise Products Ltd “is unable to liquidate its indebtedness”.

It said despite repeated demands by the creditor, which has also served the firm the statutory three-week notice under the Companies and Allied Matters Act (CAMA), the debtor has been unable to defray the debt.

The petitioner filed the winding-up petition on December 19 through its lawyer Mr. Kemi Balogun (SAN) in suit FHC/L/CP/2357/24.

Nova Bank prayed for “an order granting leave to the petitioner/applicant to advertise the winding-up petition of the respondent, Sunrise Products Limited, once in the Federal Government Official Gazette, one national daily newspaper and other newspaper circulating in Lagos State, where the registered office and principal place of business of the respondent is situate or in such other newspaper as the court may direct in compliance with the companies Winding-Up Rules 2001.”

Nova Bank informed the court that there is “a real and imminent risk of the respondent dissipating and disposing of its assets within jurisdiction.”

It prayed the court to make other orders to preserve the debtor’s assets, otherwise the judgment if given in favour of the petitioner would be rendered nugatory and the petitioner would be left with nothing.

The bank filed a motion on notice against Sunrise Products, joining the Central Securities Clearing System (CSCS) Plc and 21 banks, seeking to protect the Respondent’s assets.

The 21 banks are Access Bank Plc, Citi Bank Plc, Ecobank Nigeria Ltd, Fidelity Bank Plc, First City Monument Bank Ltd, First Bank Of Nigeria Ltd, Guaranty Trust Bank Plc, Jaiz Bank Plc, Keystone Bank Ltd, Polaris Bank Ltd, Providus Bank Plc, Stanbic Ibtc Bank Plc, Sterling Bank Plc, Standard Chartered Bank Plc, Sun Trust Bank Ltd, Taj Bank Plc, Titan Trust Bank Ltd, Wema Bank Plc, Zenith Bank Plc, Union Bank Of Nig Plc and United Bank For Africa Plc.

The motion on notice prayed for several reliefs, including: “An order of appointing the Deputy Chief Registrar of the Federal High Court, Lagos, as Provisional Liquidator of the Respondent to take over and oversee the affairs and continuous running of the Respondent’s Company pending the grant of the Winding-up Order.

“An order of interlocutory injunction restraining the Respondents, their Directors, members of Staff, Management, employees, officers, agents, privies or any other person or group of persons whatsoever under the Respondent’s authority or any other authority (howsoever derived or sourced) from operating, withdrawing from and/or otherwise tampering with the Respondent’s funds under whatsoever name or guise in the cited Bank or financial institutions pending the grant of the Winding-up Order by this Honourable Court.

“An order of interlocutory injunction restraining the respondent, their agents, servants and/or privies from tampering with, alienating, transferring and/or otherwise dissipating or otherwise appropriating the Respondents’ fixed and movable assets howsoever described and called, pending the grant of the Winding-up Order.”

The petitioner also prayed for an order directing the CSCS and the 21 respondent banks “to hold and disclose by way of a sworn affidavit filed within 5 days upon being notified of the order of this honourable Court, particulars of all assets, monies, real estate, stock, funds, bonds, cash deposits, bank guarantees, letters of credit and all negotiable instruments in the name of the Respondents up to the sum of $2,587,891.21 and N276,567,150.63 being the outstanding indebtedness of the Respondent to the Petitioner as at 21st October, 2024 pending the grant of the Winding-up Order.”

Nova Commercial Bank informed the court that the grounds upon which the application was made include that the three weeks statutory demand notice served on the Respondent has since elapsed, “yet the respondent has neglected to pay or to secure or compound for same to the reasonable satisfaction of the petitioner.

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“The respondent is unable to liquidate its indebtedness. By Section 574(1) of the Companies and Allied Matters Act (CAMA), Section 6(6) of the Constitution of the Federal Republic of Nigeria, 1999 as amended, Rule 183 of the Companies Winding-Up Rules, 2001, Order 30 of the Federal High Court (Civil Procedure) Rules, 2019, this Honourable court has the power to make interim orders or any other orders that it thinks fit in hearing and determining a Petition, and particularly to preserve the RES of the suit.

“Substantially the whole of the assets of the Respondent are personal in nature and are liable to be dissipated, removed, destroyed, and or otherwise evaporated by the alter egos of the Respondent unless a restraining order is granted to prevent the res from being dissipated.

“There is a real and imminent risk of the Respondent dissipating and disposing of its assets within the jurisdiction and unless the order of this court sought herein is made to preserve the said assets the judgment of this court, if given in favour of the Petitioner will be rendered nugatory and the Petitioner will be left with nothing.

“It is in the overall interest of justice that this application is granted to secure depositor’s funds packaged as facilities for the respondent.”

The Kaduna State High Court has adjourned ruling on a bail application filed by a former Chief of Staff (COS) to immediate past Kaduna State Governor Nasiru El-Rufai, Alhaji Muhammad Bashir Sa’idu, till January 16.

Sa’idu, also a former finance commissioner, was arraigned at the Chief Magistrates’ Court in Rigasa.

The court ordered his remand at the Kaduna Correctional Centre, following his arrest by security agencies on December 30, 2024, on the Kaduna-Zaria highway.

The prosecution also alleged that Sa’idu allegedly laundered the N3.9 billion difference in violation of Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.

But in response to the allegation, one of Sa’idu’s lawyers, Oladipo Tolani (SAN), said they were baseless.

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“Bashir Sa’idu has been in detention since January 2, , when he was captured along the Kaduna-Zaria highway at Rigachiku in Igabi Local Government Area of the state.

“After his detention, we filed an application for bail, which was argued today (Thursday). Meanwhile, yesterday (Wednesday), the state government filed a charge against Sa’idu. The matter was adjourned for ruling on January 16, 2025,” Tolani said.

Reacting to claims that Sa’idu indicated his principle at the court, the lawyer said: “Whoever told you that evidence was given by a Chief Security Officer is a lie. No evidence was taken. It was only lawyers’ business; argument of bail application. No testimony was given.”

A Federal High Court in Abuja has given an order of interim freezing and forfeiture of over N228.4 million linked to former Abia State Governor Theodore Orji to the Federal Government.

The sum is said to be the proceeds of money laundering.

Justice Emeka Nwite gave the order while ruling on an ex parte motion filed by the lawyer to the Economic and Financial Crimes Commission (EFCC), Fadila Yusuf.

The judge also directed the EFCC to publish the order on its website and a national daily.

The court directed interested parties to show cause within 14 days of the publication of the order.

The judge adjourned the matter until February 3 for report of compliance.

The News Agency of Nigeria (NAN) reports that ex-Governor Orji also served as a two-term senator representing Abia Central before his retirement from active politics.

The anti-graft agency had, in the motion ex parte, brought the suit pursuant to Section 44(2)b) of the 1999 Constitution (as amended) and Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

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The motion, dated December 30, last year, and filed January 2 by Yusuf, was also brought under the inherent jurisdiction of the court.

The lawyer sought an order granting an interim freezing and forfeiture of the N228,497,773.12 domiciled with a commercial bank set out in the schedule attached to the Federal Government of Nigeria.

She also sought “an order authorising the commission to make publication of interim freezing/forfeiture order made by this honourable court on the EFCC website and Daily Trust Newspaper and the interested parties to show cause within 14 days of the publication of the order”.

The lawyer, in her five-ground argument, said the money described in the schedule was the subject matter of an investigation by the EFCC and found in the possession of Effdee Nigeria Limited.

She said it was reasonably suspected to be proceeds of unlawful activities.

“Effdee Nigeria Limited is alleged to have conspired with others to defraud Abia State government to wit: conspiracy, abuse of office, obtaining money by false pretence, money laundering, and diversion of public funds.

“Effdee Nigeria Limited, in whose possession the monies were found, is reasonably suspected to have conspired with Senator Theodore Ahamefule Orji, the former governor of Abia State, some officials in the former governor’s administration and his family members,” Yusuf said.

The EFCC lawyer said those linked to the money were being investigated by EFCC for the allegations, following intelligence report received by the commission against Orji.

According to her, there is a need to preserve the monies pending investigation and/or prosecution.

A litigation officer with EFCC, Tahir Ahmed, said sometime between 2016 and 2017, the commission received an intelligence report against Orji, some officials in his administration and his family members.

He averred that Effdee Nigeria Limited, a sewage and waste disposal entity, was used by the former governor, some officials in his administration and his family members for the diversion and laundering of Abia State government’s funds while Orji was in office.

“The company was used to siphon funds and divert monies with the aid of some officials of a commercial bank.

“The intelligence report was assigned to the Economic Governance Section of the commission for investigation,” he said.

Ahmed said the team launched an investigation into the case, which led to the arrest of the Divisional Head of a bank in Umuahia, Austin Akuma, who was alleged to be the middleman between the contractor (Effdee Nigeria Limited) and the former Special Adviser to the (then) Governor on General Duties, Erondu Uchenna Erondu.

The EFCC official alleged that the banker, in a statement made upon words of caution at the commission’s office, stated that it was agreed between himself (Akuma) and Erondu that the contractor’s company, Effdee Nigeria Limited, would be used to received funds from Abia State government’s accounts.

“Thereafter the contractor would distribute these monies to several accounts of specific customers of the bank to be provided by the banker after which these various customers would withdraw cash and return same to the banker who in turn takes the cash to the Special Adviser in the Government House,” he alleged, attaching the statements made as Exhibit EFCC 1.

According to him, letters of investigation activities were also written to the commercial bank concerned while an analysis of the statement of the above account of Effdee Nigeria Limited revealed substantial inflow from various agencies in Abia State government leaving a balance of N228,497,773.12.

Ahmed said that investigation was still ongoing in relation to the allegations received against the suspects.

He said there was need to preserve the res to prevent the dissipation of the above mentioned monies pending the conclusion of investigation and conclusion of the multifarious criminal complaints and ongoing investigations pertaining to the suspects.

After Yusuf moved the motion, Justice Nwite, who said the application was meritorious, granted the prayers.

A Federal High Court in Abuja yesterday ordered temporary freezing of 21 accounts domiciled in some commercial banks and directed the arrest of their holders.

Justice Emeka Nwite gave the order after counsel for the Inspector-General (I-G) of Police, Ibrahim Mohammed, moved a motion ex-parte to the effect.

Justice Nwite also granted the “order directing the banks to issue details of the account package(s) and to place a Post-No-Debit (PND) on the accounts, disable the ATMs while allowing inflow into the said accounts” pending the conclusion of investigation.

“I have listened to the submission of the learned counsel for applicant and gone through the affidavit evidence.

“I am of the view that the motion ex-parte is meritorious.

“The application is hereby granted except that the investigation can only last for a period of 90 days,” Justice Nwite said.

The judge adjourned the matter until April 3 for mention.

The banks are Access Bank Plc, Sterling Bank Ltd, Wema Bank Plc, Fidelity Bank Plc, Zenith Bank Plc, Union Bank Plc, Guarantee Trust Bank Ltd, United Bank for Africa Plc, Stanbic IBTC Bank Plc, First Monument Bank Plc, Heritage Bank Plc, TAJ Bank Plc and Keystone Bank Plc.

The News Agency of Nigeria (NAN) reports that while the I-G is the applicant in the motion ex-parte marked: FHC/ABJ/CS/1965/V/2024, the 13 banks are sued as 1st to 13th defendants respectively.

The I-G, in the motion filed by Mohammed, sought an interim order directing the listed “banks to freeze the accounts mentioned in the schedule attached to this summon pending investigation and prosecution of this case.

“An order directing the banks to issue details of the account package(s) and to place a Post-No-Debit (PND) on the accounts, disable the ATM while allowing inflow into the said account as from the date of this court order.

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“An order of the court directing the bank to apprehend the account holder or any person transacting business on the said account and contact the police through this number: 09011483807”

Giving two grounds, the lawyer said the accounts are subject of investigation and are reasonably suspected to be warehousing proceeds of unlawful activities or fraud.

He said: “If there is any dealing with the accounts by way of withdrawal or transfer to another account by the person under investigation/investigator and the person that have absolute power to deal with the account will render nugatory any consequential order(s) which the court may make at the conclusion of this application.”

In the affidavit deposed to by Glory Ohio, a detective with the Nigeria Police Force attached to Force Criminal Investigation Department, on February 12, 2024, the I-G received a petition bordering on stealing and breach of trust which preliminary investigation revealed to be money laundering.

Ohio averred that the head of the team was assigned to investigate the complaint to determine the allegations contained in the petition and investigations were initiated in that respect.

“That the complainant alleged that he needs a (SPV) Special Purpose Vehicle company to enable him secure the contract with Nigeria Navy which led him to enter a joint venture agreement with the defendant who has the company name Indetix Limited.

“That the petitioner was offered contract to supply ICT Equipment and Accessories, supply 10 wooden canoes and outboard engines, supply of 13x115HP Yamaha 4-stroke long shaft outboard engines, supply and installation of inverter batteries and supply of outboard engines and firefighting equipment.

“That the Nigeria Navy offered the petitioner the contract and both parties open a joint account with Zenith Bank where they made themselves the two signatories to the account.

“That both parties concerned drafted memorandum of understanding and a clause spelt the sum of 15% of the profit to be paid to the defendant and parties append their signatures.

“The Nigeria Navy disbursed the contract sum in installment to be used in execution of the contract.

“That the petitioner received a letter from the complainant that he is not comfortable with the first agreement signed by both parties for 15% of the profit rather a 7.5% of the total sum of the contract to his own share of the contract.

“That the petitioner disagreed with the proposal and the new terms intended to be smuggled into parties’ earlier agreement.

“That the refusal of the petitioner does not go well with the suspect as a result of which the suspect sent a purported company resolution to the bank and removed the petitioner as a signatory to the joint account, which makes him the sole signatory.

“That his act was motivated in furtherance of his clandestine motives to steal from the joint account, and he did steal money under the guise of purchase of the board engine.

“That the suspect further transferred the contract sum paid into the joint account to various accounts in order to disguise the origin of his illegal activities,” the officer said.

Ohio said the purported money disbursed for the purchase of the engine board was later transferred back to the suspect’s account different from the joint account.

According to the detective, this is done to promote money laundering and conceal his illegal activities.

The officer said the intelligence report gathered so far revealed that the suspects were making effort to transfer or withdraw money from the accounts and that unless the court grants the order, the investigation will be jeopardised.

A Federal High Court in Abuja has fixed January 6 for ruling on a bail application filed by Olamide Thomas, a woman charged with cybercrime for allegedly threatening the Inspector General of Police (IGP) and two others with death.

Justice Emeka Nwite chose the date yesterday after listening to the parties’ arguments on the merit or otherwise of the bail application filed by lawyer to Thomas, T. J. Aondo.

Thomas was arraigned on December 20 on a three-count charge in which she was, among others, accused of making death threats in a video recording published on her social media platforms against the IGP, police spokesman Olumuyiwa Adejobi, and the son of President Bola Tinubu, Seyi, as well as members of their families.

Arguing the bail application, Aondo said his client was entitled to bail, pending the conclusion of trial, due to her condition.

The defence lawyer assured the court that Thomas was willing to stand trial and would not jump bail. He prayed the court to admit his client to bail on liberal terms.

Responding, lawyer to the prosecution, Victor Okoye, faulted Aondo’s arguments and urged the court to reject the defence’s request.

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Okoye said the defendant only claimed that she was suffering from an ailment without attaching any medical report.

Thomas is, in the first count of the charge, alleged to have, sometime in 2024, knowingly and intentionally transmitted a video recording through a computer system or network on her social media platforms wherein she made remarks in Yoruba language.

In the video, she was alleged to have stated “that Mr. Seyi Tinubu would die this year, and misfortune and calamity had befallen the Tinubu family, with intent to bully, threaten, harass the person of Mr. Seyi Tinubu”.

The communication was said to have placed Seyi in fear of death, violence or bodily harm.

The prosecution said the offence is contrary to and punishable under Section 24 (2) (a) of Cybercrimes (Prohibition, Prevention, Etc.) (Amendment) Act, 2024.

A Federal High Court in Abuja has scheduled ruling for January 6 on a bail application filed by Olamide Thomas, a woman charged with cybercrime for allegedly threatening the Inspector General of Police (IGP) and two others with death.

Justice Emeka Nwite chose the date on Tuesday after listening to parties’ arguments on the merit or otherwise of the bail application filed for Thomas by her lawyer, T.J. Aondo.

Thomas was arraigned on December 20 on a three-count charge in which she was, among others, accused of making death threats via vedio recording published on her social media platforms, against the IGP, police spokesman, Olumuyiwa Adejobi and Seyi, son of President Bola Tinubu, and members of their families.

Arguing the bail application on Tuesday, Aondo spoke about his client’s condition and contended that his client was entitled to bail pending the conclusion of trial.

The defence lawyer assured the court that Thomas was willing to stand trial and would not jump bail. 

He then urged the court to admit his client to bail on liberal terms.

Responding, lawyer for the prosecution, Victor Okoye faulted  Aondo’s arguments and urged the court to reject the defence’s request.

Okoye noted that the defendant only claim that she was suffering from an ailment without attaching any medical report.

Thomas is, in the first count of the charge, marked: FHC/ABJ/CR/636/2024, alleged to have, sometime in 2024, knowingly and intentionally transmitted communication in the form of video recording through computer system or network on her social media platforms wherein she made remarks in Yoruba language.

In the video, she was alleged to have stated “that Mr. Seyi Tinubu would die this year, and misfortune and calamity had befallen the Tinubu family, with intent to bully, threaten, harass the person of Mr Seyi Tinubu.”

The communication was said to have placed Seyi in fear of death, violence or bodily harm.

An offence the prosecution said is to contrary to and punishable under Section 24 (2) (a) of Cybercrimes (Prohibition, Prevention, Etc.) (Amendment) Act, 2024.

Thomas is, in count two, accused of  intentionally transmitted communication in the form of video recording wherein she made remarks in Yoruba language to bully, threaten, harass the person of the IGP.

The prosecution stated that the said communication placed the IGP in fear of death, violence or bodily harm, an act said to be contrary to and punishable under Section 24 (2) (a) of Cybercrimes (Prohibition, Prevention, Etc.) (Amendment) Act, 2024.

Thomas is, in count three, accused of intentionally transmitting or causing the transmission of communication in the form of video recording wherein she made remarks in Yoruba language, stating that the children of Adejobi would all die before his eyes.

She was quoted to have also said that “he (Adejobi) will bury all his children in a single day, with Intent to bully, threaten, harass the person of Mr. Muyiwa Adejobi.”

The prosecution claimed that the communication placed Adejobi in fear of death of his loved ones, an act said to amount to an offence is said to be contrary to and punishable under Section 24 (2) (a) of Cybercrimes (Prohibition, Prevention, Etc.) (Amendment) Act, 2024.