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Tag: Obaigbena

  • Obaigbena, GHL, appeal against ‘favourable’ ruling

    Obaigbena, GHL, appeal against ‘favourable’ ruling

    General Hydrocarbons Limited (GHL) and the owner of Arise TV and Thisday Newspapers Mr Nduka Obaigbena have appealed against the ruling of a Federal High Court in Lagos which “they consistently made the public to believe was in their favour.”

    The appeal was filed at the Lagos division of the Court of Appeal.

    “GHL’s appeal shows clearly that the public and financial institutions affected by the orders of the court have been misled,” an official of First Bank Plc said yesterday.

    GHL and First Bank are in court following disagreements over contractual obligations.

    In the appeal papers obtained yesterday, GHL, Obaigbena and two others, namely Efe Damilola Obaigbena and Olabisi Eka Obaigbena, asked the Appeal Court to dismiss the suit filed by First Bank.

    GHL had claimed that banks had complied with the Federal High Court ruling lifting the Mareva injunction placed on its accounts and those of its directors and shareholders.

    It said Justice Deinde Dipeolu set the order aside on January 29.

    According to GHL, the court upheld the arguments of its counsel, Abiodun Layonu (SAN), as well as the arguments of Olumide Aju (SAN) representing the second to fifth defendants.

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    Reacting, First Bank said it appealed against the lifting of the Mareva order and applied for an injunction to suspend the discharge order pending the determination of the appeal.

    It said given its pending appeal and Motion for Injunction, banks were expected to maintain the status quo.

    First Bank obtained the Mareva injunction in a bid to recover an alleged $225.8 million it said it loaned GHL.

    The bank said while it diligently performed its obligations under the loan agreements, GHL allegedly breached them.

    GHL denied owing First Bank, saying it signed the agreement trusting that the lender would comply with its obligations to fund OML 120, “but it has clearly not done so”.

    In the three grounds of appeal, GHL claimed that Justice Dipeolu erred by refusing to decline jurisdiction to entertain First Bank’s suit and for not dismissing it for being a gross abuse of court process.

    It faulted the judge for ruling that he would continue to entertain the matter “notwithstanding the fact the subject matter of the dispute before the court had already been submitted to arbitration by the parties”.

    GHL prayed the Court of Appeal for an order striking out or dismissing First Bank’s suit “for lack of jurisdiction, for being in gross abuse of the process of the lower court and for want of a reasonable cause of action.”

    In his ruling lifting the Mareva injunction, Justice Dipeolu had agreed with First Bank that the suit did not constitute an abuse of the court process.

    The judge had adjourned till February 19 for the hearing of the substantive suit by First Bank.

  • Injunctive orders against Obaigbena, GHL, others stay, say FBN lawyers

    Injunctive orders against Obaigbena, GHL, others stay, say FBN lawyers

    Six of the injunctive orders made by Justice D. I Dipeolu on December 30 last year against General Hydrocarbons Limited (GHL), publisher of Thisday newspaper, Mr Nduka Obaigbena and other directors of the company were not discharged yesterday by the judge, contrary to claims by the GHL.

    What the court discharged, according to counsel to the First Bank, are two of the eight injunctive orders. Both are Mareva orders.

    The other injunctive orders – 6,7,8,9,10 and 11 were not discharged or set aside, and remain valid and subsisting, the counsel said.

    The orders are as follows:

    •An order of interim injunction restraining the 1st – 4th defendants, agents, servants, officers, privies, subsidiaries, sister companies or any other person natural or artificial howsoever called under the control of the 1st – 4th defendants from transferring or otherwise dealing with any and all of the monies standing to the credit of the 1st – 4th defendants in any account whatsoever maintained by the 1st – 4th defendants with any of the aforementioned Banks wherever situate up to the amount of the plaintiff/applicant’s claim of the total sum of $225,802,379.69 (Two hundred and twenty-five million eight hundred and two thousand, three hundred and seventy-nine dollars and sixty-nine cents) being the indebtedness on the 1st defendant’s account with the 1st plaintiff/applicant as of 30th September, 2024 in respect of the loan facilities granted to the 1st defendant by the 1st plaintiff/applicant, pending the hearing and determination of the motion on notice for interlocutory injunction.

    •An order mandating all the commercial banks in Nigeria to wit: Guaranty Trust Bank Limited; Access Bank Plc; Citibank Nigeria Limited; Carbon Bank; Ecobank Nigeria Plc; Fidelity Bank Plc; First Bank Of Nigeria Limited; First City Monument Bank Plc; Flutter Wave; Globus Bank; Heritage Bank Limited; Jaiz Bank; Keystone Bank Limited; Opay Digital Services Limited; Palmpay Limited; Paystack Payments Limited; Piggyvest; Momo Payment Services Limited; Polaris Bank Limited; Providus Bank; Stanbic Ibtc Bank Nigeria Limited; Standard Chartered Bank; Sterling Bank Plc; Suntrust Bank Limited; Union Bank of Nigeria Plc; United Bank For Africa Plc; Unity Bank Plc; Wema Bank Plc; Zenith Bank Plc and all other financial institutions operating in Nigeria to file and serve on the plaintiffs/applicant solicitors within seven (7) days of serving this court order on them, an affidavit disclosing the sum standing to the 1st– 4th defendants’ credit with a duly certified statement of accounts of the 1st – 4th defendants/respondents in their respective custody from the date of its opening till the date this Order is served on the bank(s).

    •An order mandating the 8th – 13th defendants to file and serve on the plaintiffs/applicants a statement disclosing the quantum of products lifted from the 8thDefendant or OML 120 since the commencement of production in OML 120.

    •An order of interim injunction restraining the 8th to 16th defendants and any other third parties from dealing with any assets and receivables related or connected with OML 120 without depositing the proceeds thereof to the 1st defendant’s account in the 1st plaintiff bank, pending the hearing and determination of the motion on notice for interlocutory injunction.

    •An order of interim injunction restraining the 1st, 2nd, 3rd and 4th defendants whether by themselves, members, shareholders, agents, servants, proxies, allies, from transferring and/or dissipating, diminishing or dealing with any interest in the 1st defendant’s assets including but not limited to crude stock, insurance policies, all forms of stock of shares, all forms of receivables and contracts which have been pledged as securities for the loan facilities granted by the 1st Plaintiff to the 1st defendant, pending the hearing and determination of the motion on notice for interlocutory injunction.

    •An order of interim injunction restraining the 2nd – 4th defendants being directors of the 1st defendant, whether by themselves, agents, servants, proxies, allies, from transferring and/or dissipating any interest in their assets wherever located in Nigeria, movable or immovable, pending the determination of the motion on notice for interlocutory injunction.

    The counsel said: “For the avoidance of doubt, the 1st – 4th defendants (GHL and its directors) are still restrained from dealing with and/or dissipating monies in their respective accounts and assets connected to the subject matter of the suit.

    “It is also pertinent to refute the false insinuation that punitive costs were awarded against FBN.”

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    The matter has been further adjourned to February 19, 2025, to enable all defendants respond to the substantive suit before a hearing date is given by the judge.

    “The court ruled that the suit filed by FBN before Dipeolu J, did not amount to an abuse of court process as the cause of action and the parties are different from the cause of action and parties in the proceedings that were before Allagoa J.

    “For the above reason, the court was of the view that the suit filed by FBN was properly constituted and dismissed the prayers of the 1st – 5th defendants urging the court to strike out/dismiss the suit for being an abuse of court process.

    “With respect to GHL’s contention that FBN suppressed and/or concealed the preservative orders made by Allagoa J., the court also held that FBN disclosed the existence of the preservative orders of Allagoa J. in paragraph 61 of their Affidavit save that the court order was not attached.

  • President, governors celebrate Obaigbena at 65

    President, governors celebrate Obaigbena at 65

    President Bola Tinubu has celebrated media mogul, Prince Nduka Obaigbena, on his 65th birthday. He acknowledged Obaigbena’s entrepreneurial spirit and contributions to the media industry.

    President Tinubu’s message was contained in a statement yesterday by his Special Adviser on Media and Publicity, Ajuri Ngelale.

    The president praised the renowned publisher, who founded ThisWeek Magazine, THISDAY Newspapers, Arise Magazine, and The Arise News Channel, for his achievements and philanthropic efforts, particularly in education, demonstrating his commitment to human development.

    It reads: “President Bola Tinubu extends his congratulations to Prince Nduka Obaigbena (CON) on his 65th birthday.

    “President Tinubu notes the enterprising spirit of the former President of the Newspaper Proprietors’ Association of Nigeria (NPAN), who founded ThisWeek Magazine, and later, THISDAY Newspapers, Arise Magazine, and The Arise News Channel.

    “He prays for greater achievements for the renowned publisher, whose philanthropic efforts, especially in education, have demonstrated his passion for human development.”

    Read Also: Tinubu celebrates Thisday publisher, Obaigbena, at 65

    Ogun State  Governor Dapo Abiodun also described Obaigbena as a colossus in the media industry.

    Abiodun praised Obaigbena’s contributions to the media industry, noting that since started his journey with ThisWeek, years ago, he has left an indelible mark on the Nigerian press landscape.

    He said: “As a visionary leader, he has demonstrated unwavering commitment to journalistic excellence, innovation, and the pursuit of truth. His dedication to delivering accurate, reliable, and impactful news has served as an inspiration to many in the industry.

     “Under Mr. Obaigbena’s stewardship, ThisDay newspapers, and Arise Television have consistently provided valuable insights, thought-provoking articles, and comprehensive coverage of national and international affairs. His relentless efforts in promoting freedom of speech, press freedom, and responsible journalism have significantly contributed to the growth and development of the Nigerian media.

    “His dedication to the industry also saw the birth of Arise Television, which is currently making waves all over the world.

    “On this birthday, we celebrate Obaigbena’s remarkable journey and commend his remarkable achievements. We wish him good health, happiness, and continued success in all his future endeavours.”

  • Tinubu celebrates Thisday publisher, Obaigbena, at 65

    Tinubu celebrates Thisday publisher, Obaigbena, at 65

    President Bola Tinubu celebrated renowned media mogul Prince Nduka Obaigbena on his 65th birthday, acknowledging his entrepreneurial spirit and contributions to the media industry.

    President Tinubu’s congratulatory message to the man fondly called ‘the Duke’ was contained in a statement issued on Sunday, July 14, by his special adviser on media and publicity, Ajuri Ngelale.

    He praised the renowned publisher, who founded ThisWeek Magazine, THISDAY Newspapers, Arise Magazine, and The Arise News Channel, for his achievements and philanthropic efforts, particularly in education, demonstrating his commitment to human development.

    “President Bola Tinubu extends his congratulations to Prince Nduka Obaigbena, CON, on the occasion of his 65th birthday.

    “President Tinubu notes the enterprising spirit of the former President of the Newspaper Proprietors’ Association of Nigeria (NPAN), who founded ThisWeek Magazine, and later, THISDAY Newspapers, Arise Magazine, and The Arise News Channel.

    “The President prays for greater achievements for the renowned publisher, whose philanthropic efforts, especially in education, have demonstrated his passion for human development”, the statement said.

  • EFCC gives Obaigbena two-week ultimatum to refund N670m

    EFCC gives Obaigbena two-week ultimatum to refund N670m

    As the ongoing probe of $2.1billion arms deals continues, the Economic and Financial Crimes Commission (EFCC) yesterday gave “ThisDay” publisher  Prince Nduka Obaigbena a two-week ultimatum to refund N670million allegedly collected for unexecuted contracts.

    Obaigbena told investigators that he never  benefitted from slush funds from the Office of the National Security Adviser (ONSA).

    He said the administration of ex-President Goodluck Jonathan paid the said sums to “ThisDay” and the Newspapers Proprietors Association of Nigeria (NPAN) as compensation for the bombing of the newspaper house by Boko Haram  and the seizure of copies of many newspapers by the military.

    He said there was a presidential proclamation by former President Jonathan that “ThisDay” will be compensated for the loss to Boko Haram.

    He said Jonathan made the pledge after an inspection visit to the newspaper.

     Obaigbena was quizzed for two days on the activities of General Hydrocarbons and  inflow into the company’s account from ONSA.

    A source, who spoke in confidence, said: “What we are investigating is General Hydrocarbons. Records from the Corporate Affairs Commission (CAC) indicated that Nduka Obaigbena is a director of the company.

    “ONSA reported that General Hydrocarbons was one of the companies that received payments purportedly for contracts without contract documents or approval.

    “Between December 8, 2014 and May 23, 2015, Obaigbena received N670million from ONSA. The reasons stated on the payment mandates are as follows: First tranche of N150million(environmental security project) and the remaining tranches(payment for  energy consultancy)

    “Obaigbena said he was paid compensation of N550 million for the bombing of “ThisDay” office in Abuja but there is no nexus between this payment and the money he collected for contracts. None of the sums shows that what he got from ONSA was compensation.

    “The complaint before us is that the company was given money without contractual agreement.

    “By all records, Obaigbena was paid for unexecuted contracts. It is government’s funds and he has to refund the N670million, “ an EFCC official said last night.

    Another source privy to the investigation said: “The EFCC has given Obaigbena a maximum of two weeks to refund the amount he collected from ONSA.

    “Obaigbena has signed an undertaking to refund the money in question. The anti-graft commission has  also granted him an administrative bail.”

    On the payment made to NPAN, the source simply  said: “Investigation is still in progress.”

    The source added that EFCC operatives were courteous and Obaigbena was friendly and unperturbed during the investigation.

  • ThisDay publisher Obaigbena explains N670m collected from Dasuki’s office

    ThisDay publisher Obaigbena explains N670m collected from Dasuki’s office

    The publisher of ThisDay newspapers, Mr. Nduka Obaigbena, has denied collecting any illegal money from former National Security Adviser (NSA), Col. Sambo Dasuki.

    The publisher was one of the people fingered as the beneficiaries of the sum of $2.1 billion meant for acquisition of arms but was allegedly mismanaged by the former NSA.

    Prominent Nigerians already fingered in the arms deal scandal include the Chairman of DAAR Communications Limited, Chief Raymond Dokpesi; former Sokoto State governor, Alhaji Attahiru Bafarawa; former Director of Finance at the Office of the NSA, Mr. Shuaibu Salisu; former Chairman of the Board of Trustees of the Peoples Democratic Party, Chief Tony Anenih, and Senator Iyorchia Ayu, among others.

    Explaining his role in a letter he addressed to the Chairman of the Economic and Financial Crimes Commission (EFCC), Obaigbena admitted collecting a total sum of N670 million from the office of the former NSA, N550 million of which he said was compensation for the Kaduna and Abuja offices of ThisDay newspaper burnt by Boko Haram insurgents on Thursday April 26, 2012.

    The balance of N120 million, Obaigbena, who is the President of Newspapers Proprietors Association of Nigeria (NPAN), said, were compensations for the various newspaper houses whose bundles and copies were seized at different locations by security agents in the middle of last year

    Giving details of his company’s losses in the burning of its Kaduna and Abuja offices, Obaigbena recalled that “four innocent Nigerian lives were lost, our buildings (were) destroyed and we lost full colour Goss printing towers and three pre-press computer-to-plate and auxiliary equipment and other (in)valuable property valued at over N2.5 billion.

    “This is aside from daily costs to pay third party printers of over N1 billion, having lost our printing facility to terrorists due to inadequate protection by the Federal Government of Nigeria.

    “The bombing of ThisDay offices followed the Abuja United Nations Building bombing for which the Federal Government has so far spent N3 billion for reconstruction and much more earmarked for furnishing.”

    He recalled that 12 newspapers had demanded compensation “for the brutal and unlawful seizure of newspapers and stoppage of circulation by armed soldiers in Abuja and several cities.

    “As President of the NPAN, it was my duty to lead media leaders to hold discussions with President Goodluck Jonathan to avert a class action lawsuit against the armed forces and the Federal Government of Nigeria.”

    He added: “On both occasions, President Jonathan said he did not wish to lay precedence and in our case, he specifically said there were many victims of Boko Haram.

    “I had to confront President Jonathan on the issue when I learnt of approvals for the reconstruction of the Abuja United Nations Building, since we were the second major organisation to be attacked by Boko Haram after the UN attack.

    “He therefore directed me to meet the National Security Adviser who processed the three payments in question.”

    Obaigbena, who said he was writing from the US, said he would be making his way to Nigeria to meet the EFCC chairman if the latter required further information.

    Our story, by The Nation

    The Managing Director of Vintage Press Limited, publishers of The Nation and Sporting Life newspapers, Mr. Victor Ifijeh, yesterday explained how the company got “a paltry N9 million” instead of the N300 million it demanded from the Federal Government as compensation for bundles and copies of its newspapers seized by security agents in different parts of the country last year.

    The Nation was one of the 12 newspapers named by the President of the Newspapers Proprietors Association of Nigeria (NPAN), Nduka Obaigbena, as beneficiaries of the sum of N120 million  obtained from the office of the former National Security Adviser, Col. Sambo Dasuki.

    Explaining the company’s position yesterday, Ifijeh recalled that the company had written a letter to the NPAN notifying it of the company’s decision to demand the sum of N300 million from the Federal Government as compensation or resort to legal action.

    The letter dated July 16, 2014 and signed by the company’s Managing Editor (Online/Special Duties), Mr. Lekan Otufodunrin, stated that Vintage Press Limited had suffered “monumental losses” from the clampdown on The Nation and Sporting Life..

    “The days in question were Friday June6, Saturday June 7 and Sunday June 8, 2014,” the letter stated.

    “On these days, soldiers who said they were acting under instructions ‘from above’ willfully and maliciously impounded the circulation vans of Vintage Press Limited carrying bundles and copies of The Nation and Sporting Life for distribution and sales across the country.

    “The vans were impounded on the highways of Oyo, Ondo, Ekiti, Edo, Delta, Niger, Kogi, Kano, Kaduna, Plateau, Benue, Imo, Abia, Enugu states and the FCT, Abuja.

    “The soldiers arrested and detained in military barracks some of our drivers.

    “Consequent upon the foregoing, over 100,000 copies of The Nation and 140,000 copies of Sporting Life on each of the three days could not be distributed and sold.

    “The losses of Vintage Press Limited can be broken down as follows:

    .Unsold copies of The Nation and Sporting Life seized across the country

    .Advertisements in the papers on those days were affected.

    .The emotional stress and psychological effect of this barbaric act on the company and its staff.”

    The company had in another letter to Femi Falana, SAN, dated June 9, 2014, instructed the human rights lawyer to file am action against the Federal Government, claiming the sum of N3 million for Vintage Press Limited.

    “As counsel for VPL in the matter, your mandate is to get the best judgment for the company in this case. We expect you to deploy your best legal skills and international best practices in doing so,” the letter signed by Ifijeh stated.

    Recalling that Vintage Press Limited was prevailed upon by NPAN to shelve legal option, Ifijeh said “sometime in May this year, the NPAN met and Obaigbena told us that the government had agreed to pay N10 million to each newspaper that asked for compensation.

    “The meeting resolved that N1 million of the amount be paid into the association’s coffers towards the purchase of a befitting secretariat.

    “About a week later, the government made good its promise and Obaigbena sent a draft of N9 million to The Nation, saying that the money was from the Jonathan government.

    “I had briefed the board of directors, the management committee and the editors conference about the negotiations and the three organs were equally informed of the receipt of the draft for N9 million.

    “No further payment was made to The Nation by any other person, organisation or body on behalf of the Jonathan government.”

  • Buhari, Atiku console Obaigbena

    The presidential candidate of the All Progressives Congress (APC), Gen. Muhammadu Buhari and former Vice President Atiku Abubakar have sent a message of condolence to the Publisher of ThisDay, Nduka Obaigena, on the death of his brother, Azubuike.

    A statement yesterday by the Director of Media and Publicity of the APC Presidential Campaign Organisation  (APCPCO) quoted Gen. Buhari and Alhaji Atiku as saying that the late Obaigbena passed away when the country was looking up to the services of Nigerians in the diaspora to assist in developing the country.

    The statement reads: “The demise of Rotimi Azubuike Obaigbena is an unpleasant development at this point when our country is looking up to the services of young Nigerians, who have made remarkable landmarks in their fields of endeavour.

    “In the past few days I have met with a good number of Nigerians outside the country and I most sincerely commend their high sense of patriotism and zeal to contribute to the overall development of the country.

    “I know that the demise of this gentleman is a huge loss to the community of Nigerians outside the country, but it is bigger lose to Nigeria and the Obaigbena family and will be greatly missed.”

    In his own condolence message from his media office in Abuja, Atiku said that the death of Rotimi Azubuike Obaigbena came as a rude shock, describing the deceased as “a very hardworking Nigerian who has made an indelible mark in his chosen profession.”

    He also prayed for the family and friends of the deceased to have the fortitude to bear the loss.