Tag: Nduka Obaigbena

  • FirstBank floors Nduka Obaigbena’s GHL at Court of Appeal

    FirstBank floors Nduka Obaigbena’s GHL at Court of Appeal

    First Bank of Nigeria Limited (FirstBank) has secured a significant victory at the Court of Appeal in its case against General Hydrocarbons Limited (GHL) filed by  their lawyers Babajide Koku SAN and Victor Ogude SAN

    In its  judgment, the Court of Appeal   at the instance of GHL to hear FBN’s appeal on  an urgent basis during the Court’s vacation  after hearing the appeal, on  Thursday  (the 11 September 2025) set aside the judgment of Justice Obile J of the

    Federal High Court,  Port Harcourt division, which had  earlier dismissed FirstBank’s claims regarding the use of proceeds from the sale of crude oil cargo pledged as collateral for loan facilities.

    The dispute arose from crude oil aboard the FPSO Tamara Tokoni, which GHL had pledged to FirstBank as security for substantial loan facilities. Contrary to the terms of the pledge, GHL used the proceeds from the sale of the cargo, prompting the Bank to seek legal redress.

    FirstBank filed an appeal challenging the trial court’s decision that had treated the matter as a simple debt recovery. The Court of Appeal, in its ruling, affirmed the maritime nature of the claim and emphasised the importance of preserving the Res, the crude oil cargo, as the central issue in dispute. The Court set aside the earlier order of the trial court vacating the order of arrest of 2nd respondent.

    READ ALSO: Asamoah Gyan accuses Osimhen of faking injury in World Cup qualifiers

    The appellate court allowed FirstBank’s appeal and set aside the Federal High Court’s ruling. It authorised the sale of the crude oil cargo aboard FPSO Tamara Tokoni, with the proceeds to be deposited into an interest-yielding escrow account under the custody of the Chief Registrar of the Court of Appeal, pending the hearing and determination of the case at the trial court and the court of arbitration. The Chief Registrar was also appointed to take possession of the cargo and ensure its protection against dissipation or unauthorised disposition by any party.

    This ruling marks a significant milestone for FirstBank and reinforces the Bank’s commitment to upholding the integrity of financial transactions and protecting the interests of its stakeholders.

    FirstBank remains steadfast in its dedication to sound corporate governance, legal compliance, and the protection of its assets. The judgment of the Court of Appeal sets a strong precedent for the enforcement of collateral agreements and accountability in high-value commercial transactions.

  • Unorthodox Obaigbena!

    Coming almost a week after the publisher of ThisDay Newspaper, Nduka Obaigbena, celebrated his 60th birthday; it would not do justice to a man of Obaigbena’s nature to cast a simple headline to capture his essence. At any rate, most of those straightforward headlines had been used last week: ‘The Duke @ 60’, ‘Nduka Obaigbena is 60’, ‘The Duke clocks 60’, etc. The man turned 60 on July 14.

    One thing that singles out Obaigbena is his penchant for the unorthodox. He came into the newspaper business at a difficult time in the country’s history, when the most vibrant independent newspapers – The Punch, National Concord and The Guardian – were proscribed. He was able to make his mark before the return of those papers; and it is his staying power that made the ThisDay to continue to be relevant even after the newspapers were de-proscribed.  Unarguably, Obaigbena experimented with razzmatazz, etc. in newspaper journalism in Nigeria in the most unusual manner, and with a high degree of success. His training as an artist contributed in no small measure to the newspaper’s success story.

    I had about 17 months stint on the Editorial Board of ThisDay. I must confess I had a nice time in the organisation; the only snag being that I considered my salary then too low. It was only unfortunate that I had made up my mind to leave before my pay was doubled. But two or three things I cannot fail to mention about my experiences at ThisDay despite my short stay in the system. One was when I was named member of a three-man committee responsible for renting and furnishing of outstation offices for the newspaper. The other two members were Pastor Patrick Enilama and the newspaper’s accountant then, one Aminu. We were able to do the Port Harcourt office but I can’t remember what happened to the committee after I left the company in Year 2000. I still keep wondering what could have qualified me for such sensitive assignment in an organisation where I was barely four months old.

    Trust Obaigbena, there is hardly anything he does without panache. Talking about Year 2000, I remember the newspaper made a lot of hype then with what the publisher called ‘millennium editors’. It was also at ThisDay that I leant how to use computer. It was nothing unusual then, as many editors of the newspaper had the same phobia for/disinterest in computers, and were satisfied sending their handwritten materials to computer operators for typesetting and planning. But Obaigbena made it compulsory for all of us to use computers, and almost all of us sooner than later got hooked on the computer. Today, I cannot write longhand again.  Apart from writing editorials for the paper, I also maintained a weekly column which was coming out (I think) on Mondays.

    But of all these experiences, the one that fascinated me most was when I wrote about a top security chief that I learnt was the publisher’s close friend. Somehow, the publisher happened to have come around on that Sunday evening when I was putting finishing touches to the piece and he saw the headline. He then took a more curious interest in the write-up. I had erroneously lumped the security chief with some other persons with a different matter. What Obaigbena did was simply to put the record straight and the piece was still allowed to go. Some other publishers could have dropped it because of the friendship with the security chief. This editorial/content pluralism is another of the newspaper’s strength.

    I acknowledge that Obaigbena, like the rest of us, has his shortcomings, especially with irregular payment of salaries. This notwithstanding, many of the journalists and others who worked at ThisDay would not forget in a hurry that they rode in some of the best cars and jeeps money can buy at a time not many publications thought journalists deserved some of these goodies hitherto believed to be exclusive preserves of bankers and other people in the corporate world.

    I pray for the grace to make Obaigbena overcome the shortcomings. I have been told that wines taste better with age. All said, I join the numerous well-wishers of this ‘author’ of ‘newspapering unusual’ and unorthodox publisher, a happy 60th birthday.

  • Osinbajo urges media chiefs to project Nigeria in IPI congress, tackle hate speech

    Osinbajo urges media chiefs to project Nigeria in IPI congress, tackle hate speech

    Acting President Yemi Osinbajo has requested the country’s chapter of the International Press Institute (IPI) to use the 2018 edition of the institute’s world congress in Abuja to project the country’s image to the globe.

    He gave the advice when the board of the Nigerian chapter of the IPI paid him a courtesy visit at the Presidential Villa.

    According to him, “It is a very important opportunity for Nigeria to showcase ourselves and also to show that Nigeria is safe and secure for business.

    “It is also an opportunity to advertise all of our ease of doing business initiatives.’’

    The Acting President assured the IPI that the Buhari administration would partner the Nigerian chapter of the IPI to host a hitch-free 2018 World Congress of the Global Network of Free Media.

    He also assured the board that states could participate in the hosting, especially as it provided “an important opportunity for tourism and for them to showcase some of the great initiatives that they have.’’

    Osinbajo stated that the pledge was in line with the administration’s commitment to promote private sector partnership.

    He further urged the local organizing committee to consider putting on the agenda of the June 2018 event, the issue of hate speech and its implications for the polity and for peace and security.

    “The forum is an important one for raising the question of hate speech and its implications for our country, for our polity and for peace and security.’’

    “Somehow these things are resonating all over the world, new found nationalism and all of that.

    “But I think for us here in Nigeria, it is a very important issue.

    “I think that it is important that we find ways of controlling these things.

    “I think that we owe a responsibility, especially leaders of journalism, to find ways of dealing with this issue because it is a cancer.’’

    The Acting President thanked the delegation for the visit and for its efforts in ensuring that Nigeria was given the opportunity to host the world congress.

    Earlier, the leader of the delegation and Chairman of Thisday newspapers, Chief Nduka Obaigbena, said that the visit was to intimate the Acting President of the forth coming conference to be hosted in Abuja.

    Obaigbena solicited the Federal Government’s support in the hosting in different areas, including the provision of a secure and safe environment for delegates and visas on arrival.

    He stated that hate speech would form one of the thematic issues to be discussed during the congress.

    He also thanked the Acting President for the pledge to support IPI Nigeria in hosting a hitch-free congress.

  • Daily Times to celebrate heroes, heroines

    The country’s foremost newspaper, The Daily Times of Nigeria (DTN), on Friday said it would begin its 91st anniversary with honouring some eminent Nigerians and an exhibition on May 16.

    DTN, regarded to as the nation’s heritage newspaper, will honour three Presidents, including Muhammadu Buhari of Nigeria, Nana Kufo-Ado of Ghana and former President Goodluck Jonathan also of Nigeria.

    The Publisher DTN, Mr Fidelis Anosike and Chairman, Anniversary Organising Committee, Aremo Olusegun Osoba said in a joint statement that the event and the AA top level National and Historic Exhibition on Nigeria would hold at the Abuja International Conference Centre.

    President Muhammadu Buhari will be awarded with Nnamdi Azikiwe Leadership Award; President Nana Akufo-Ado of Ghana with Babatunde Jose Leadership Award and ex-President of Nigeria, Dr Goodluck Jonathan with Ernest Ikoli Leadership Award.

    The Nigerian Senate President, Dr Bukola Saraki, will be confined with the Politician of the Decade Award and Abia Governor, Dr Okezie Ikpeazu with the Good Governance Award alongside seven Gov. Akinwunmi Ambode (Lagos) and Ibrahim Dankwabo (Gombe).

    Others are Bindo Jubril (Adamawa); Nyesom Wike (Rivers); Willie Obiano (Anambra); Yahaya Bello (Kogi) and Atiku Bagudu (Kebbi), who are also billed to receive the Good Governance award at the event.

    Gov. Dankwabo of Gombe will also be honoured with the Governor of the Decade Award.

    In the private sector, business icon, Mr Tony Elumelu, Chairman, Heirs Holding and UBA, will be crowned with Man of the Decade Award.

    Other awardees are Mrs Ibukun Awosika, Chairman, First Bank Plc, who will be conferred with Woman of the Decade Award, while Pastor Paul Adefarasin, will bag Life Impact Award.

    The publisher, Pinnacle Communications Ltd., Nduka Obaigbena, and other Nigerian Media icons such as John Momoh, Linda Ikeji, and Chris Ubosi completed the list.

    The theme of the exhibition, “Nigeria through the Times’’ will be hosted at the foyer of the Abuja International Conference Centre on May 16, 2017 from 3 p.m. till 6 p.m.

    “The exhibition will also be hosted in Lagos at the Nigerian Institute of International Affairs (NIIA), Victoria Island Lagos, from June 1 to June 6.

    “The exhibition is aimed at bringing back to our memories, the vision and struggles of our founding fathers who laboured vigorously for the Nigerian Independence.

    “The exhibition is exclusively documented by The Daily Times and retained in its very rich archives.

    “The historic event shall showcase the history of Nigeria viz-a-viz the colonisation era.

    “The rise of Nigerian nationalism, pictorial exhibitions of historic constitutional conferences, emergence of political parties, the Nigerian independence pictures,’’ the statement said.

    It added that “The Daily Times first issue of June 1, 1926, the Daily Times independence edition, October1, 1960, landmark editorials of the Daily Times will be displayed.

    “Also, Photographs of the editors of The Daily Times publications and memorable front pages from Daily and Sunday Times are features of the exhibition.

    “The Times Heroes Awards 2017, which comes as icing on the anniversary cake, will hold at the Abuja International Conference Centre Conference Hall from 6.30 p.m. on May 16, 2017.

    “The Awards are instituted to honour deserving heroes who have distinguished themselves in various endeavours and whose activities have positively impacted lives,’’ a legacy the Times Nigeria has canvassed over the years,’’ it said.

    DTN said that the anniversary planning committee noted that the 2017 anniversary was consolidated because the last awards by the Daily Times was in 1996 when the organisation marked its 70 years anniversary.

    “Henceforth, the Times Heroes Awards will now be an annual award.

    “Notable icons of the Daily Times are Sir Adeyemo Alakija, Ernest Ikoli and Alhaji Babatunde Jose.

    Others are late Chief Innocent Oparadike; Araba Tola Adeniyi, Tunji Oseni, Onukaba Adeniyi-Ojo and others.

    “The event, expected to attract people from all walks of life aims at the promotion of humanitarian cause, such as the issues of the Internally Displaced Nigerians (IDPs),’’ the anniversary committee added.

     

     

  • Looking  different

    Looking different

    TIE designs and the modes of knotting them are altering every season. The most classic tie of the moment and which is the rage at most birthday parties is the bow tie.

    Most men of all ages have to wear a tie at some points in their lives and many men wear them daily to work in business clothes. Ties affix a stroke of good grooming and sophistication to men in suits.

    There are some Nigerians who have made the bow tie a part of their total turn-out. There is Prof. Bolaji Akinyemi; ThisDay Publisher, Mr Nduka Obaigbena; among others.

    Here are some tips to help you get that good, classy and fashionable look with a bow tie? When in search of ties, go for ties made of silk or polyester because the best ties are made from them. Make sure your ties are not dirty and that they are well knotted. Always put up your ties when you are not wearing them. Make sure that the colour of your suit blends with that of your tie.

  • Chibok: Business community votes $10mn for Nigeria

    Following the abduction of hundreds of school girls in Chibok, Borno State, almost four weeks ago, the Nigerian business community has voted $10 million to make schools safe in the country.
    Addressing journalists at the ongoing World Economic Forum on Africa in Abuja Wednesday, the former British Prime Minister and current United Nations envoy on Education, Mr. Gordon Brown, also disclosed two teams from the United States and the United Kingdom will be coming to Nigeria in the next two days to help find the kidnapped girls.
    Brown stated that “there is a desperate need to assure Nigerians that children are safe to go to school and as a result the Nigerian business community has earmarked $10 million with a pilot scheme of 500 schools. The initiative wants parents and teachers to come up with what safety measures that should involve the government too.
    He added that the British and US governments have assured him they will provide teams to locate the abducted students.
    The Publisher of ThisDay Newspaper, Mr. Nduka Obaigbena, said the Nigerian business community was stunned by the abduction which he described as a reflection of the current situation in the country.