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The Association of Corporate Treasurers of Nigeria has called on the Federal Government to explore alternative methods of tackling inflation without resorting to further interest rate hikes. The ACTN President Adeyinka Ogunnubi, at a recent media launch for the 2024 Treasury360 Conference and Exhibition, highlighted the impact of Nigeria’s high inflation on corporate treasurers and
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Ondo State reigned supreme at the first Basic Education School Sport Games which concluded in Abuja on Friday, topping the medals table of the nine-day event ahead of Akwa Ibom and 23 other states in the country. Athletes from the Sunshine State topped the medal tally with nine gold, 13 silver, and nine bronze medals,
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Ondo State reigned supreme at the first Basic Education School Sport Games which concluded in Abuja on Friday, topping the medals table of the nine-day event ahead of Akwa Ibom and 23 other states in the country. Athletes from the Sunshine State topped the medal tally with nine gold, 13 silver, and nine bronze medals,
The Federal High Court sitting in Lagos has fixed November 1, 2024 to rule on the application by the Economic and Financial Crimes Commission, EFCC, for the final forfeiture of the $2.045million, seven choice landed properties and shares involving former Governor of the Central Bank of Nigeria, Godwin Emefiele. The court will also on the
Court fixes Nov. 1 to rule in final forfeiture of $2.045m, properties linked to Emefiele
The Federal High Court sitting in Lagos has fixed November 1, 2024 to rule on the application by the Economic and Financial Crimes Commission, EFCC, for the final forfeiture of the $2.045million, seven choice landed properties and shares involving former Governor of the Central Bank of Nigeria, Godwin Emefiele.
The court will also on the same date, rule on the formal application filed by the former banker for a stay of proceedings.
Recall that on August 15, 2024, the court had authorised the EFCC to temporarily take custody of the assets.
In granting the application, the court had instructed the EFCC to publish the order of interim forfeiture for any person interested in the funds to show the cause why it should not be finally forfeited to the FG.
At the resumed hearing on Friday, counsel for the EFCC, Rotimi Oyedepo moved an application for the final forfeiture of the sum of $2.045m, as well as share certificates, which he said was not contested by the interested Party.
In opposition, however, counsel to the interested Party (Emefiele), Olalekan Ojo prayed the court to hold that the interested party has shown in a balance of probability that the court ought not to grant the final forfeiture of the properties.
He adopted his written address, urging the court to refuse the application.
Earlier in the proceedings, the court refused to stay further proceedings in the suit.
Through his lawyer, Emefiele had urged the judge to stay proceedings pending the hearing of an appeal he filed before the Court of Appeal seeking to nullify the temporary forfeiture order earlier granted by the court.
But Justice Deinde Dipeolu held in his ruling that interested parties had the right to approach the Court of Appeal which must be contingent on the trial court’s decision.
The court also held that an appeal flows from the decision of a trial court but in the instant case, the court had not made any decision as to any application filed or as to the substantive issues in the suit.
Justice Dipeolu, therefore, dismissed the oral application made by Ojo seeking to stay the court’s proceedings.
At the last sitting of the court, Ojo had urged the court to stay further proceedings in the case pending the determination of the banker’s appeal.
He said, “We’re urging your lordship to stay proceedings pending the hearing and determination of the appeal court in order to avoid judicial rascality.”
Counsel to the Economic and Financial Crimes Commission (EFCC), Rotimi Oyedepo (SAN), had, however, objected insisting that no application from Emefiele was taken and ruled on that crystallised to an appeal.
Oyedepo said: “My lord, how can the defendant in this case rush to the Court of Appeal because the (Federal High) Court returned the (case) file to the administrative judge for assignment, owing to the fact that the annual vacation of the court ends on the next adjourned date?
“I submit with due respect that the defendant just went to dump mere documents in the registry of the Appeal Court. Therefore, I urge the court to hold that there is no appeal.”
Oyedepo had also argued that the former CBN governor’s appeal cannot stop the proceedings in this matter because the leave of the court was not sought, as the rule of court has made it mandatory when it is an appeal filed on the ground of mixed fact and law.
Court fixes Nov. 1 to rule in final forfeiture of $2.045m, properties linked to Emefiele
Monday Okpebholo has been sworn in as the governor of Edo State, marking an end to the eight years administration of Godwin Obaseki in the South-South state. The inauguration ceremony took place on Tuesday at the Samuel Ogbemudia Stadium in Benin City, the state capital. This is coming two months after the All Progressives Congress,
BREAKING: Okpebholo takes over from Obaseki, sworn in as Edo Governor
Monday Okpebholo has been sworn in as the governor of Edo State, marking an end to the eight years administration of Godwin Obaseki in the South-South state.
The inauguration ceremony took place on Tuesday at the Samuel Ogbemudia Stadium in Benin City, the state capital.
This is coming two months after the All Progressives Congress, APC, clinched the ticket to the Dennis Osadebay House.
Okpebholo took his oath of office alongside his running mate, Dennis Idahosa.
More to follow…
BREAKING: Okpebholo takes over from Obaseki, sworn in as Edo Governor
