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Tag: Dr Anthony Idigbe

  • Idigbe cautions against Igbo division over Anioma State

    Idigbe cautions against Igbo division over Anioma State

    A Senior Advocate of Nigeria, Dr Anthony Idigbe, has called for deep reflection, restraint and sensitivity in the ongoing calls for the creation of Anioma State.

    He warned that the process, if poorly handled, could reopen old wounds and create new divisions among Igbo people.

    Dr Idigbe was the guest speaker at the 2025 Annual Dinner and Award Night of the Otu Oka Iwu (Association of Igbo Lawyers) in Lagos.

    The event, chaired by Abia State Deputy Governor Ikechukwu Emetu, was attended by the Asagba of Asaba, Obi Professor Epiphany Azinge (SAN), and the President General of Ohanaeze Ndigbo, Senator John Azuta-Mbata.

    Dr Idigbe urged leaders to rise above personal ambitions in addressing what he described as a highly sensitive national and ethnic question.

    According to him, the proposal for Anioma State could be viewed in two major ways: as a quest for liberation by the Anioma people who feel culturally and politically constrained, and as a form of compensation to the Southeast through the creation of an additional state.

    However, he cautioned that both perspectives raised complex identity and territorial questions that must be handled with care.

    He said: “Anioma State can be looked at as a form of liberation for the people of Anioma, who are surrounded by other cultures and who feel that those circumstances have created survival challenges for them.

    “From that point of view, the agitation is about self-determination.

    “The other perspective is to look at it as compensation for the Southeast in terms of an additional state. But once you say that, questions begin to arise.”

    Idigbe asked whether the creation of Anioma State would amount to an expansion of what is traditionally regarded as Igboland or an extension of the Southeast geopolitical zone into Anioma territory.

    “Will it mean an expansion of the territory that you will regard as Igboland, or does it mean an extension of the Southeast to the Anioma area?” he asked.

    “These are sensitive issues, and because they are sensitive, we have to be extremely careful.”

    He warned against actions or rhetoric that could give the impression of domination or annexation.

    The SAN said: “We must avoid the feeling that one particular Igbo has the right to control the other part of Igboland.

    “Anioma people do not want to come out of one bondage and go into another to be perpetrated by their brother Igbos from across the River Niger. They will fight!”

    According to him, failure to tread carefully could recreate historical mistakes rooted in power struggles and elite interests.

    Idigbe stressed: “What should be the best approach? Should we give up what we already have because we are looking for something else?”

    He urged stakeholders to reflect deeply on the consequences of their choices.

    Drawing from history, Idigbe recalled the creation of the former Midwest Region, suggesting that misplaced priorities may have limited the region’s long-term development.

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    He said: “We still think that we made the same mistake when we got the Midwest Region.

    “Maybe if we had focused on getting the capital and the premiership right, who knows how our area would have turned out?

    “Who knows whether the metropolis between Awka and Agbor would have been more established today if we had placed the larger interest above personal interest?”

    Idigbe cautioned that current agitations risk being hijacked by personal ambition.

    He said: “I am aware that people are already positioning themselves to be governors, senators and so on.

    “And because of that, they are ready to throw away what we already have.”

    Reaffirming shared identity, Idigbe stressed that Anioma people are an integral part of the Igbo nation.

    He declared: “Every Anioma person is as much Igbo as any other Igbo person. We are as much Igbo as every other Igbo person, unless someone is in denial.”

    He emphasised culture as the strongest binding force, saying: “What keeps us together is simple. Our main culture remains Igbo.

    “Over the centuries, the Igbos have been an expanding nation and many of them claim ancestry from Benin, Ishan, Yoruba, Igala, Hausa, Ibibio, Urhobo and Ijaw and viz versa.

    “Despite that, Igbo main culture is based on the adoption of the language and the two pillars of respect for age and merit through its complex recognition and reward traditions. If you’ve adopted the culture, you are Igbo.”

    Calling on leaders to act responsibly, Idigbe added: “We need to convey the right message to our people about the relationship between the Anioma people and the people of the Southeast.”

  • TCN’s AGM invalid, Idigbe remains chairman, says SEC

    TCN’s AGM invalid, Idigbe remains chairman, says SEC

    Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC), yesterday declared the purported Annual General Meeting (AGM) of Tourist Company of Nigeria (TCN) Plc held on July 25, 2025, null and void.

    In a circular issued yesterday, SEC said any resolutions arising from the disputed meeting would not be recognised. Shareholders at the disputed meeting had removed the SEC-appointed chairman of the company, Dr Anthony Idigbe (SAN).

    According to the SEC, the meeting was held in defiance of an express regulatory order and without its approval, despite the Commission’s earlier intervention in the governance of the company.

    The meeting reportedly led to the unauthorised removal of SEC-appointed interim directors and the board secretary, actions the Commission described as illegal and capable of destabilizing the company.

    In its statement, the SEC condemned the actions of some majority shareholders who allegedly convened the meeting without observing due process.

     “The Commission, pursuant to its core mandate under the Investments and Securities Act, 2025, had taken regulatory steps including appointing two Interim Independent Directors into the Board of TCN Plc to ensure its survival as a going concern and to protect the interest of all shareholders especially those whose holdings cannot give them access to the Management and control of the company,” the Commission stated.

    SEC said the actions of the majority shareholders have the potential to reverse the positive strides achieved since the regulatory intervention. “The recent steps taken by the majority shareholders are poised to thwart the gains already made by the said regulatory intervention which had brought stability into the company and returned its shares to positive values,” it added.

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    The regulatory agency stressed that its involvement in the affairs of TCN Plc remains in force. It insisted that the composition of the company’s board prior to the contested AGM remains valid and intact.

    “The Commission, by this notice, informs the general public and all stakeholders that TCN Plc remains under the Commission’s regulatory involvement. The Commission does not recognize the purported Annual General Meeting (AGM) of TCN Plc of July 25, 2025 held in clear disregard of an express directive from the Commission and in contravention of extant laws governing such meetings,” the statement said.

    It added that “the Board of TCN Plc remains as constituted prior to the purported AGM, and the SEC-appointed independent directors would remain on the Board of TCN Plc to ensure good governance, stability, the protection of minority investors and to ultimately maintain an orderly and fair market.”

    TCN Plc, operators of the Federal Palace Hotel in Lagos, has been at the centre of a prolonged internal dispute involving major shareholders and management. SEC’s decision to intervene came after allegations of financial mismanagement, poor governance, and disregard for minority shareholder rights surfaced in 2024. As part of the intervention, two interim independent directors were appointed by the Commission to stabilise the firm and ensure compliance with corporate governance standards.

    Prior to the disputed AGM, the Commission’s involvement had resulted in relative calm within the company and an improvement in its share performance on the Nigerian Exchange. The SEC believes the unilateral actions of the majority shareholders risk plunging the company back into a state of disorder.

    Reaffirming its regulatory oversight, the Commission warned that it would not hesitate to deploy all legal instruments to enforce its directives. It said it remains committed to its investor protection mandate and to maintaining the integrity of the capital market. “The Commission shall accordingly discountenance any resolution passed in the said meeting until all legacy issues are fully resolved,” it said.

    It also cautioned market participants and shareholders to act within the bounds of the law and SEC’s directives. “All stakeholders and the investing public should be guided accordingly,” the notice concluded.

  • Idigbe dismisses removal as TCN chairman, clarifies regulatory role

    Idigbe dismisses removal as TCN chairman, clarifies regulatory role

    Chairman of The Tourist Company of Nigeria Plc, Dr Anthony Idigbe (SAN), has dismissed his purported removal at the Emergency Board of Directors meeting held on July 22, 2025.

    He stated that the issue of the removal of the chairman was not on the agenda.

    In a statement by his aide, Philomena Philips, Idigbe highlighted the agenda of the meeting as follows: “Opening, Apologies, Reading and adoption of the agenda, Disclosure of conflict of interest, Business of the day – Consideration of the memo on the Securities and Exchange Commission’s (SEC) forensic audit findings and directives and their implementation thereof, and Closure of meeting.” 

    The statement reads: “The removal of the chairman was not on the agenda.

    “The chairman closed the meeting when the meeting became rowdy.

    “The items on the agenda were not discussed.

    “The company is still under regulatory action by the Securities and Exchange Commission.

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    “Appropriate reports have been made to the SEC by the SEC-appointed directors under the February 17, 2017, settlement agreement between the disputing shareholders of Alex Ibru/OMA Investment and RFC on the one hand and Goodie Ibru/AVI on the other hand in Ikeja Hotel Plc (IHPL), a company listed on the NGX and investor and substantial creditors of TCN, among other companies.

    “The purpose of the regulatory intervention in IHPLC and its investee companies was to prevent the business from collapsing, restore corporate governance, and resolve the deadlock.

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    “Chief Idigbe is proud of the work he, the board and management have done over the years, leading to the share price moving from 70K in 2017 to NGN23 last week. 

    “The current contrived crisis from the agenda reproduced above is driven by the release on June 27, 2025, of the SEC’s findings and directives on the forensic audit conducted on the group by Deloitte. 

    “Shareholders, that is, Alex Ibru/OMA Investment/RFC group, who were dissatisfied with the SEC’s findings and directives, have taken their grievances to court.

    “The attempt to make Chief Idigbe the issue is an afterthought and a disingenuous scheme to buy time.

    “From the first day in 2017, when Chief Idigbe presided over the first meeting of the board of IHPLC and discovered that the agenda he approved for the meeting was altered without his knowledge, he applied and obtained the SEC and IHPLC board approval to have PUNUKA Nominees Ltd, now OOT Nominees Limited, as the Company Secretary.

    “It has been so for eight years without complaint.

    “The Nominations Committee of the TCN board reviews the performance of OOT Nominees Ltd. periodically and has consistently approved their performance over the years.

    “Although the aggrieved shareholders have gone to court and obtained orders against the SEC, they do not seem to have faith in the rule of law and instead seek to resort to self-help and utilise their perceived media influence to seek to obtain unlawful remedies through the unauthorised publication.

    “Despite the above distraction, Chief Idigbe has vowed to remain focused on concluding the national duty and service of resolving the IHPLC problem, which is nearing completion.”

    Idigbe, also Chairman of Ikeja Hotel Plc and Chairman, Hans Gremlin Limited, has over 40 years of experience in corporate governance, insolvency, business restructuring, arbitration, dispute resolution, privatisation, capital markets, mergers & acquisitions, and oil and gas. He has advised clients on several complex transactions.

    He was licensed to practice law in Nigeria in July 1983 and Ontario, Canada, in June 2016. He was appointed Notary Public in 1989 and elevated to Senior Advocate of Nigeria (SAN) in July 2000.

    He graduated from the University of Ife, Ile-Ife, in 1982 (LL.B.), winning the Justice Orojo prize as the best student in Company Law, the University of Lagos, Akoka (LL.M) in 1988, and the Enugu State University of Science and Technology (ESUT) in 1997 (MBA).

    He holds an LL.M. in Construction and Arbitration Law from Robert Gordon University, Scotland (2012), and a GPLLM from the University of Toronto (2015).

    He also has a doctorate in cross-border insolvency from Osgoode Hall Law School, York University, Toronto, Ontario, Canada (2022).

    His dissertation was on Norm Life Cycle Theory and the role of INSOL International in shaping the 1997 UNCITRAL Model Law on Cross-Border Insolvency.

    Veritas University, Abuja, awarded him an Honorary Doctorate in Law, LL.D. (Honoris Causa) on December 9, 2023.

    Pope Francis elevated him to a Papal Knight of Saint Sylvester, the Great (KSS), and his investiture took place in September 2021.

     He was a member of the Board of Directors (Trustees) of the Canadian Association of Nigerian Lawyers (CANL) for four years, retiring in 2024, and chairs the Board of Trustees of Dominican University, Ibadan.

    He is a fellow of the Chartered Institute of Directors Nigeria (CIoD), INSOL International, the Chartered Institute of Arbitrators, London, the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) and the International Bar Association (IBA).

    In addition, he is a member of the Association of International Energy Negotiators (AIEN), the London Court of International Arbitration (LCIA), the Lagos Court of Arbitration (LCA), the International Chamber of Commerce, Nigeria (ICCN), the American Bankruptcy Institute (ABI), and the International Insolvency Institute (III).

    He is an experienced corporate director knowledgeable in global capital market operations and business restructuring.

    He chaired Capital Hotel Plc (2017 – 2022) and currently chairs Ikeja Hotel Plc, listed on NGX, and The Tourist Company of Nigeria Plc (TCN).

    His work resuscitating the Ikeja Hotel Group from collapse and shareholder and management deadlock has received several NGX awards and accolades.

    He is also a director of Royal Exchange Plc, listed on NGX and chaired the Statutory Audit Committee of Seplat Energy Plc, listed on NGX and the London Stock Exchange (LSE) from 2015 to 2023.

    He is the Vice Chairman of Ardogreen Energy Limited, the operator of PPL 203 and chairs the board of Salus Trust Limited, a health maintenance organisation (HMO) and other private companies. Idigbe is also an independent director at PZ Industries Limited.

    He was the past President of the Asaba Chambers of Commerce, Industry, Mines and Agriculture (ASACCIMA) from 2022 to 2025 and President of the Delta Association of Chambers of Commerce, Industry, Mines and Agriculture (DACCIMA) from December 12, 2022, to February 27, 2025.

    He was elected the National Legal Adviser of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) from May 2023 to May 2025.

    In May 2025, he was elected National Vice President, South-South, NACCIMA.

    He holds a Corporate Director Certificate from Harvard Business School, a certificate in Blockchain Law from Osgoode Hall Law School, York University, Toronto, Canada, and a Postgraduate Diploma in Digital Business from Emeritus Business School, in collaboration with MIT and Columbia Business School.  

    Idigbe founded the Capital Market Solicitors Association (CMSA), a sectoral organisation for lawyers in the capital market and PUNUKA Foundation, a charity focused on children with special needs.

    He chaired the 2017 Nigeria Bar Association (NBA) Legal Profession Regulation Review Committee, which reviewed the regulation of the legal profession in Nigeria.

    In 2013, he was appointed the National Coordinator for Nigeria, World Bank Global Forum of Law, Justice and Development Project on Treatment of Shareholders’ Rights in Insolvency of Companies (2013 to 2014); and in 2012, he was a member of the Petroleum Revenue Special Task Force that reviewed petroleum operations in Nigeria and made significant recommendations.

    In addition, he chaired the Technical Drafting Committee for the Bill that became the Investment and Securities Act 2007.

    He recently chaired the review committee for the same law, resulting in the Investment and Securities Act 2025.

    As a consultant to the Bureau of Public Enterprises, he, along with another competition law expert, drafted the bill that became the Federal Competition and Consumer Protection Commission Bill Act, relating to anti-trust and competition law in Nigeria.

    Idigbe was the consultant who drafted the IOD Charter Bill and was a member of the IOD Charter Committee, which pursued the promulgation of the law now passed as the Chartered Institute of Directors Act 2023 (CIoD Act 2023).

    He serves as an active facilitator for the CIoD, providing training to its members.

    His book, ‘Legal Issues in Capital Market Operations in Nigeria’ serves as a reference material for training and practice in corporate governance and capital market operations in Nigeria.

    In December 2022, Idigbe won the Institute of Directors (IOD), now CIoD Anofi Guobadia Award for Leadership and Excellence in Directorship.

    He is also the author of the book chapter titled ‘Distressed Banks and Asset Management Companies – Evaluating AMCON as a Bank Resolution Tool for Managing Non-Performing Loans in Nigeria’, in ‘Bank Insolvency Law in Developing Economies,’ edited by Kayode Akintola and Folashade Adeyemo and published by Routledge, 2023; pp.18-50.

    Other publications include ‘Innovations in New Civil Procedure Rules in Nigeria,’ and  ‘ADR Practice in Nigeria’ in ‘ADR Client Strategies in the Middle East and Africa,’ edited by Michaela Falls, Aspatore Books, 2009, pp. 67–91.

  • Idigbe advises SANs to serve as judges

    Idigbe advises SANs to serve as judges

    A Senior Advocate of Nigeria (SAN), Dr Anthony Idigbe, has urged SANs to consider serving as judges.

    He believes they will help transform Nigeria’s jurisprudence.

    The SAN also called for legal and judicial reforms, including revamping the regulatory framework and adherence to ethical standards.

    Idigbe delivered the speech at the pre-SAN conferment dinner organised by a law firm, Pinheiro LP.

    Initiated in 2018 by Dr Kemi Pinheiro (SAN) as the Cilantro Dinner Series, it is an informal forum where experienced SANs share ideas and convey softer skills to new members of the Inner Bar.

    Among them was Mr Chukwudi Enebeli, a partner at Pinheiro LP, who was also elevated to the SAN rank.

    Idigbe suggested that those who have achieved the rank of SAN could consider other opportunities the rank provides, including serving as judges.

    He said: “From my experience, I suggest you do it early, say three or four years after elevation.

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    “I recall Chief Wole Olanipekun SAN encouraging me to apply for an appointment as a Supreme Court judge and telling me about 13 years ago that he would have done the same, but for his age, which was too close to the then retirement age of 65 years.

    “Many of us are passionate about mixing the backgrounds of those in the policy court.

    “Unfortunately, I must share the same sentiment as Chief Olanipekun with you today: I’m getting dangerously close to my potential exit even if I get the opportunity.”

    Addressing the new SANs, Idigbe advised: “You are young and can enter the judicial space now and impact the jurisprudence.

    “I suggest that some of you explore becoming judges at the entry-level of the High Court, say three to four years from now.

    “Once SANs begin to be appointed at that level, it would soon become the norm, and the season of appointment of only failed practitioners to the junior bench will be a thing of the past.”

    On why SANs should serve on the Bench, Idigbe recalled: “At some point in my practice, the briefs and associated money no longer motivated me, given the jurisprudence coming from the courts.

    “While my practice brings solutions to particular clients, I could not impact the general jurisprudence from the outside.

    “Maslow’s laws of the hierarchy of needs applied at some point, and I then understood why my father abandoned successful legal practice twice to go to the Bench.

    “Also, though I swore that my father had made too many sacrifices for Nigeria that I needed to focus on running a financially successful legal practice, I soon found myself with the same craving to serve.”

    Idigbe also urged legal practitioners to uphold the profession’s ethics, otherwise the entire legal system risks collapse.

    “Understanding that a Senior Advocate must adhere to ethical standards is non-negotiable,” the SAN said.

    He added: “It has also become increasingly alarming how some lawyers have continued to engage in ‘Jankara practice.’

    “Some have been disbarred because of professional misconduct. 

    “Recently, a Senior Advocate sued me and used a fake address for service, a tactic more reflective of the ‘sharp practice’ he must have engaged in before his conferment as SAN.”

    Idigbe urged SANs to unite in fighting for legal and judicial reforms.

    He said: “We need to review the current standards for admission into the Nigerian Bar and recommend changes; review the ethical requirements for the legal profession and determine the adequacy of such requirements and how best to maintain high ethical and professional standards in the legal profession; and review the structures for regulating the legal profession.

    “The reform that I encourage us to champion is a symbiotic relationship that puts legal practitioners at the forefront of all industries, the economy and politics of the country.

    “Indeed, my interest in these reforms is selfish because we risk losing relevance.

    “If the system is limping, we will have a situation where clients turn to the police or other agencies and, worse still, unregulated self-help organisations for dispute resolution instead of seeking our counsel.

    “Unfortunately, this is already happening. A clear example is the real estate sector, where many clients prefer dealing with estate agents rather than lawyers.

    “This shift is not solely about professional fees; it stems from a lack of trust, as some lawyers have unfortunately betrayed that trust by mishandling client funds.

    “If we implement better regulations and uphold our standards, we can ensure that lawyers remain integral to every facet of the economy – politics, boardrooms, or beyond.

    “In the United States, a vast majority of politicians and successful businesspeople are lawyers.

    “The same potential exists in Nigeria, and we must harness it.”

    Idigbe believes the SAN rank was good for the profession because those appointed are certified to have the skills, can mobilise human resources, manage big law firms, become great adjudicators, train young lawyers, improve jurisprudence and create wealth.

    He said: “Conversely, without a ranking system, where the public is unsure of the lawyer to engage or entrust their disputes to, we risk encouraging the rise of ‘mushroom’ offices that struggle to compete internationally.

    “However, attaining this level of distinction alone is not enough, you need the skills, competence, and expertise for the job.

    “Clients need change constantly, so you must adapt. When the client engages you, repeats the purchase, or refers others to you, your performance becomes a meal ticket.

    “The clients will leave if you do not perform, even with the rank. So, I suggest you should be inventive.”

    Idigbe urged the new SANs to remember that attaining silk rank is not the end of the road but a new professional chapter.

    “Continuous education to bridge our skill and knowledge gaps is essential to your success and utilising the title’s value.

    “Once you become complacent and view your title as the ultimate destination, you risk making the status a mere local chieftaincy title without real value,” he advised.

    Idigbe urged lawyers to take care of their health.

    “Our profession is tasking and exhausting – both physically and mentally.

    “Therefore, you should prioritise your health and ensure you enjoy the dividends of your hard work,” he said, adding that they must also be prayerful as it takes God’s grace to succeed.