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S’Court Reserves Ruling In Union Bank’s Suit Against $15bn Judgment Debt …Queries Prosecutor’s Authority To Try Convicted Ex-Pension Director
The Supreme Court, yesterday, in Abuja, reserved ruling on a motion by Union Bank Plc seeking among others, leave to appeal against a June 5, 2018 judgment of the Court of Appeal in which the bank and three others were ordered to pay an oil and gas firm – Petro Union Limited – about $15billion.
A five-member panel of the apex court, led by Justice Musa Dattijo Muhammad, after listening to arguments by lawyers to parties, said they would be informed when the ruling was ready.
Union Bank’s lawyer, Adegboyega Awomolo (SAN) while arguing the motion, said it contains nine reliefs, among which was an order for leave for extension of time to file appeal and another order for leave to appeal under Order 6 Rule 2(1) of the Supreme Court’s Rules.
Awomolo said his clients seek to raise fresh grounds of appeal and introduce new evidence necessary for a fair and just determination of the court.
He noted that it was strange that, while the judgments of the Federal High Court, Abuja (delivered on March 11, 2014) and the subsequent one by the Court of Appeal (which affirmed the Federal High Court judgment) were based on a £2.556b cheque alleged lodged in Union Bank by Petro Union, the said cheque was never tendered in court.
Awomolo said his client intends to show that Petro Union obtained both judgments by fraud.
He noted that Petro Union’s lawyer, Joe Gadzama (SAN) was only opposed to the grant of reliefs four and six out of the nine reliefs.
He urged the court to disregard the objection raised by Petro Union against his motion and prayed the court to grant his motion on the merit.
Olabisisi Soyebo (SAN) for the Central Bank of Nigeria (CBN) and Tijani Gazali (SAN) for the Attorney General of the Federation and Minister of Finance did not object to Union Bank’s motion.
Soyebo and Gazali, who said they did not file any process in relation to the motion, urged the court to grant it in view of the colossal amount involved and its possible implication on the nation’s economy.
Gadzama, in his response, said he vehemently opposed the motion factually and in law.
He urged the court to uphold the objection he raised and dismissed the motion on the grounds that Union Bank has not given valid and cogent reasons why leave should be granted it.
Earlier, the court finally resolved the dispute over who should represent Petro Union between Gazama and Onyechi Egwuonwu.
The court said, by its earlier ruling on July 6, 2021, it had found that Gadzama was the actual lawyer for Petro Union. It then barred Egwuonwu from further participating in the proceedings.
Petro Union had, in 1994 allegedly procured a cheque from a branch of Barclays Bank in the United Kingdom with a value of £2.556b wich it lodged in a Union Bank branch in Lagos under the pretext that the funds were to be used to construct three petrochemical refinery complexes and a bank in Nigeria.
On March 22, 2012, Petro Union sued at the Federal High Court, Abuja and sought, among others, an order of mandamus compelling the CBN, Union Bank of Nigeria Plc, Minister of Finance and the Attorney-General of the Federation to pay £2,556,000,000.00 to it.
In the suit, marked FHC/ABJ/M/104/2012 Petro Union claimed that the money was deposited with Union Bank in 1994n adding that Union Bank received £2,556,000,000.00 on its behalf and transferred £2,159,221,318.54 to the CBN while it retained £396,778,681.46 as commission.
The defendants – Union Bank, CBN, Minister of Finance and AGF – in their separate counter-affidavits, denied Petro Union’s claims.
But, in the March 11, 2014 judgment, Justice Adamu Abdu-Kafarati of the Federal High Court, Abuja (now late) held in favour of Petro Union and their directors against the defendants.
Justice Kafarati held, among others, that Union Bank was liable to Petro Union in the sum of £396,778,681.46 being the balance of Petro Union’s foreign capital which it supposedly deposited with the Bank in 1994 and that the CBN was liable to the oil firm for the sum of £2,159,221,318.54.
The liabilities were held by the court to be joint and several against all the four defendants – CBN, Union Bank, Minister of Finance and AGF.
Out of the four defendants, only Union Bank and the CBN appealed the judgment of the Federal High Court.
On June 5, 2018, the Court of Appeal, Abuja gave judgment in the appeal by Union Bank and upheld the judgment by Justice Kafarati.
It is yet to determine the appeal by the CBN.
Similarly, the Supreme Court, yesterday, demanded from the law firm of Rotimi Jacobs and Co the fiat issued to it by the Attorney General of the Federation (AGF) to prosecuted John Yakubu Yusufu, who was convicted for diverting N24billion.
Yusufu, a former Deputy Director in the Federal Civil Service Pension Office, who is serving his six-year sentence, appealed to the Supreme Court to have the 2018 judgment of the Court of Appeal, Abuja set aside.
At the mention of the case, yesterday, Theodore Maiyaki announced an appearance for the appellant.
When Oluwaleke Atolagbe (from the firm of Rotimi Jacobs & Co) announced appearance for the respondent (the Federal Republic of Nigeria), a member of the court’s five-justices panel, Justice Centus Nweze sought to know if he (Atolagbe) was from the office of the Attorney General of te Federation (AGF).
Atolagbe said he is a private lawyer from, whose firm was instructed by the Economic and Financial Crimes Commission (EFCC) to prosecute the case from the trial court.
Justice Nweze insisted that Atolagbe must present the fiat issued is firm by the AGF before further steps could be taken in the case.
When asked by the head of the panel, Justice Musa Dattijo Muhammad, if he has the fiat with him in court, Atolagbe said no, but that a letter from the EFCC, authorising his firm to prosecute the case, was in the office.
In a ruling, Justice Muhammad said, although the court sympathised with the appellant (who Maiyaki said was currently in a correctional facility), further proceedings in te case would be suspended pending when the respondent produces the fiat issue on which basis it prosecuted the case.
Justice Muhammad then adjourned January 27, 2022 at the instance of the respondent.
Justice Abubakar Talba of the High Court of the Feral Capital Territory (FCT) had, in a judgment on January 28, 2013 convicted Yusufu on a three-count charge to which he pleaded guilty following a plea bargain agreement with the prosecuting agency, the Economic and Financial Crimes Commission (EFCC).
Justice Talba had sentenced him to two years imprisonment on each count, with the option of N250,000 for each count, a decision the EFCC appealed.
In its judgment on March 21, 2018 the Appeal Court reversed the judgment of the High Court of the FCT and sentenced Yusufu to a cumulative six years imprisonment.
The appellate court then ordered to refund N22.9 billion to Federal Government’s coffers, a decision e appealed to the Supreme Court.
Although the Appeal Court’s judgment was given in 2018, Yusufu remained a free man until June 2020 when the EFCC arrest announced that its operatives arrested him in Gombe State.
He was later taken before Justice Hussein Baba-Yusuf of the High Court of the FCT, who on June 22, 2020 ordered him to be sent to prison to serve his sentence.
News
Drug Party: NDLEA Arrests Over 100 Suspects At Lagos Night Club
Operatives of the National Drug Law Enforcement Agency (NDLEA) yesterday arrested over 100 suspects at Proxy Night club located at No. 7, Akin Adesola Street, Victoria Island, where a drug party was going on.
Spokesman of the Agency, Femi Babafemi, who disclosed this yesterday, said the suspects arrested include the owner of the club, Mike EzeNwalieNwogu, alias Pretty Mike, who was taken into custody for screening.
“Cartons of illicit substances, including Loud and laughing gas, were recovered from suspects at the party and the club’s store,” Babafemi said.
The raid followed intelligence about the drug party. NDLEA operatives who were embedded in the party between 11 pm on Saturday, 25th October, however, disrupted the gathering at 3 am on Sunday, 26th October, in line with Standard Operating Procedures (SOPs).
Similarly, NDLEA said a total of 70 parcels of cocaine factory packed in walls of cocoa butter formula body cream containers heading to London, United Kingdom, were uncovered at the export shed of the MurtalaMuhammed International Airport (MMIA), Ikeja, Lagos, with three suspects arrested in a series of follow-up operations across Lagos.
According to the statement, “The cocaine consignments weighing 3.60 kilograms were discovered on 14th October 2025 during examination of cargoes packaged as personal effects going to London, UK on an Air Peace flight.
“A cargo agent, Lawal Mustapha Olakunle, who presented the consignment for airfreight, was promptly arrested while investigations stretching into two weeks led to the arrest of two principal suspects linked to the attempt to export the concealed Class A drug to the UK.
“In a follow up operation on 18th October, a female healthcare worker OgunmuyideTaiwo Deborah was arrested following which Mutiu Adebayo Adebiyi, the Chief Executive Officer of a travel agency, MutiuAdebiyi& Co, was arrested at his 23 LadokeAkintola Street, Ikeja GRA Lagos office on Monday 20 th October”.
In a similar development, an attempt by a 35-year-old Lesotho national, Lemena Mark, to export 103.59 grams of methamphetamine concealed in a diabeta herbs coffee tea pack to the Philippines on an Ethiopian Airlines flight from the AkanuIbiam International Airport (AIIA) Enugu on Wednesday, 22nd October, was thwarted by NDLEA officers who arrested him and recovered the illicit drug.
No fewer than 21,950 capsules of tramadol 250mg concealed inside a 100-litre water heater were recovered from a suspect, Umar Abubakar, 40, who was arrested by NDLEA operatives at Bode Saadu, Morro local government area of Kwara state, following credible intelligence on Tuesday, 21st October.
In Taraba, the duo of Auwal Musa, 26, and SalihuBala, 22, were arrested on Tuesday, 21st October, with 450,000 pills of tramadol and Exol-5 at Dan-anacha checkpoint while conveying the consignment in a truck loaded with building materials from Onitsha, Anambra state, to Mubi, Adamawa state.
Also, NDLEA officers on patrol along the Okene/Lokoja highway, Kogi state, seized 162.200kg skunk, a strain of cannabis, from a truck on Friday, 24th October. Operatives in Nasarawa state on Wednesday, 22nd October, recovered 128kg of the same psychoactive substance from a suspect, Abubakar Muhammad, 55, in the Keffi area of the state.
A mother of two, Oyonumoh Glory Effiong, who is a major distributor of Canadian and California Loud, both strong strains of cannabis, in Lekki, Ajah, Ikoyi, Victoria Island and VGC areas of Lagos, has been arrested by NDLEA operatives on Friday, 17th October, during a raid at her Lekki home, where 500 grams of the illicit substances were recovered.
In the Ikorodu area of Lagos, NDLEA officers on Thursday, 23rd October, raided the home of a suspect, OgunyaboAdenigbigbe, at Solomade estate, where 275 litres of skuchies, a new psychoactive substance produced with black currant drink, cannabis and opioids, were recovered.
A 75-year-old grandpa, EchenduOnuoka, was arrested on Wednesday, 22nd October, at Ovum village, Obingwa LGA, Abia state, with 4.7kg skunk seized from him, while a 60-year-old grandma, Aukana John, was nabbed with 225 grams of the same substance at Apanta village, in the same LGA.
While a 150kg skunk was recovered during a raid operation at Lot camp, IkunAkoko, Ondo state, two suspects: Bashir Mohammad, 50, and Samini Ahmed Tijjani, 35, were nabbed with 234.5kg of the same substance at Yan aya ,Saminaka in Lere LGA, Kaduna on Friday, 24th October, just as another set of suspects: IsahUsman, 50, and Salvation Okoler, 18, were arrested with 8,600 pills of tramadol 225mg and rohypnol along Abuja/Kaduna highway.
At the Seme border area of Lagos, NDLEA operatives on Wednesday, 22nd October nabbed Jacob Ojugbele with 55kg skunk at Ashipa area of Badagry, while AmusaOluwabukola was arrested with 121.3 litres of skuchies at ItogaBadagry.
In Zamfara state, NDLEA operatives on patrol along Gummi-Anka road on Monday, 20th October arrested a suspect, Abubakar Ibrahim, 30, in possession of an AK-47 rifle and 1,746 assorted calibres of ammunition, for AK-47 and GPMG rifles while moving them from Sokoto to Bagega forest, Anka LGA, Zamfara. Both the suspect and the exhibits have since been handed over to the appropriate security agency for further investigation.
With the same vigour, Commands and formations of the Agency across the country continued their War Against Drug Abuse (WADA) sensitization activities in schools, worship centres, workplaces, and communities, among others, in the past week.
These include: WADA sensitization lecture to students and staff of Asabari Grammar School, IluwaIsaleOke, Saki West LGA, Oyo; Government Day Girls Secondary School, BirninKebbi, Kebbi; St. Mark’s College, Nsude, Enugu; Kusaki Secondary School, Gboko North, Benue; Government Day Secondary School, Serti- Baruwa, Gashaka LGA, Taraba; Police Children School 2, Port Harcourt, Rivers and Hajara Ahmad International School, Tudun Wada, Kano state, among others.
While commending the officers and men of MMIA, AIIA, Lagos, Kwara, Abia, Nasarawa, Kogi, Ondo, Anambra, Taraba, Kaduna, Seme and Zamfara Commands for the arrests and seizures, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed BubaMarwa (Rtd) urged them and their colleagues across the country to continue the Agency’s balanced approach to drug control efforts.
News
SERAP Demands NNPCL Account For Oil Revenues, Threatens Legal Action
The Socio-Economic Rights and Accountability Project (SERAP) has urged the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), BayoOjulari, to provide a detailed account of oil revenues reportedly flagged by the Auditor-General of the Federation in the 2022 annual report.
The report, published on September 9, 2025, raised questions over the management of multi-billion-naira transactions, including over N22 billion, $49 million, £14 million, and €5 million in oil-related revenue, handled by the national oil company.
In a letter dated October 25, 2025, and signed by SERAP’s Deputy Director, KolawoleOluwadare, the organisation called on Ojulari to ensure transparency by identifying those responsible for any unaccounted funds and forwarding the findings to the appropriate anti-corruption agencies.
“These findings raise serious concerns about transparency and accountability in the management of public resources,” SERAP said.
The group urged the NNPCL to recover any unremitted or misapplied funds and return them to the national treasury, stressing that proper management of oil revenues was crucial for national development.
“The allegations, if not promptly and transparently addressed, could undermine public confidence and economic stability,” SERAP stated.
According to the organisation, the Auditor-General’s report drew attention to issues such as irregular payments, uncompleted projects, and documentation lapses relating to oil sector transactions.
SERAP argued that corruption and financial mismanagement in the oil sector had long hindered Nigeria’s ability to channel its vast petroleum wealth into improved public services.
“Despite the country’s enormous oil resources, citizens continue to face hardship due to a lack of accountability and transparency in revenue management,” the statement noted.
The organisation maintained that if the flagged funds were properly accounted for, more resources could be made available for sectors such as education, healthcare, and social welfare.
It added that the NNPCL must take proactive steps to comply with audit recommendations, including closing identified loopholes and enhancing oversight on contract execution.
SERAP also warned that it would take legal action should the NNPCL fail to respond within seven days.
“We would be grateful if the recommended measures are taken within seven days of the receipt and publication of this letter.
“If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel compliance in the public interest,” the organisation said.
The group cited Section 15(5) of the Nigerian Constitution, which mandates public institutions to prevent corrupt practices and abuse of power.
News
N’Assembly Committee Approves New State ForS’East
The Joint Committee of the Senate and House of Representatives on Constitution Review has approved the creation of an additional state in the South-East geo-political zone.
According to a statement by the media unit of the committee, the resolution was reached on Saturday at a two-day retreat in Lagos, where it reviewed 55 proposals for state creation across the country.
The session, chaired by the Deputy Senate President, BarauJibrin, and co-chaired by the Deputy Speaker of the House of Representatives, Benjamin Kalu, resolved that, in the spirit of fairness and equity, the Federal Government should create another state for the region.
Kalu, who joined other lawmakers to champion additional state creation for the region, argued that a new state would give the people a sense of belonging.
When created, the South-East will be at par with the South-South, South-West, North-Central, and North-East zones, each having six states.
The South-East is the only geo-political zone with five states comprising Abia, Anambra, Ebonyi, Enugu, and Imo.
The North-West comprises seven states: Kaduna, Kano, Kebbi, Katsina, Zamfara, Sokoto, and Jigawa.
According to the statement, Senator Abdul Ningi (Bauchi Central) moved a motion for the creation of the new state, which was seconded by Ibrahim Isiaka (Ifo/Ewekoro, Ogun State) at the retreat.
“The motion received the unanimous support of committee members and was adopted,” the statement read in part.
Similarly, the committee also established a sub-committee to consider the creation of additional states and local government areas across all six geo-political zones, noting that a total of 278 proposals were submitted for review.
Speaking at the event, Jibrin urged members to rally support among their colleagues at the National Assembly and state Houses of Assembly to ensure the resolutions sail through during voting.
“We need to strengthen what we have started so that all parts of the country will key into this process.
“By the time we get to the actual voting, we should already have the buy-in of all stakeholders—from both chambers and the state Houses of Assembly,” the Deputy Senate President was quoted as saying.
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