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70bn Loan: Jimoh lbrahim, NICON Tackle AMCON

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NICON Investment and billionaire businessman Jimoh lbrahim are set to approach the court for an order quashing the interim injunction obtained by AMCON against them.

AMCON had in a statement last week said it had taken over Ibrahim’s assets over an unsettled N70 billion loan he and his companies obtained from Union bank.

It listed the assets as the building of NICON Investment Ltd at Plot 242, Muhammadu Buhari Way, Central Business District, Abuja; NICON Hotels Ltd on Plot 557, Port-Harcourt Crescent, Off Gimbiya Street, Abuja and the building of NICON Lekki Ltd also on No. 5, Customs Street, Lagos.

Others are the building of Abuja International Hotels Ltd located on No. 3, Hospital Road, Lagos; another Property on Plot 242, Muhammadu Buhari Way, Abuja; the former Allied Bank Building on Mile 2, Oshodi ExpressWay, Apapa Road, Lagos; Energy House located on No. 94, Awolowo Road, Ikoyi, Lagos; NICON Building at No. 40, Madeira Street, Maitama, Abuja; a Residential Apartment at Road 2, House A14, Victoria Garden City, Lagos; NICON Hotels Building at Plot 3, Road 3, Victoria Garden City, Lagos as well as the NICON Luxury Hotel’s Building, Garki I, FCT, Abuja.”

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On Sunday both NICON Investment and Ibrahim will plead before the court that the order granting AMCON possession of the assets was not properly obtained.

They are set to contend that AMCON did not avail the court of all the facts of the dispute between them.

Some of the questions they would want the court to answer are:

How did AMCON secure a second interim injunction when the first injunction it obtained some years ago had allegedly been discharged?

Did AMCON inform the court that on October 2, 2019 Justice Oguntoyinbo of the Federal High Court, Lagos, in a suit it instituted against NICON Investment and others, held that in view of the facts contained in the affidavit before the court, the court was minded to stay proceeding in the suit pending the outcome of the suit before a Lagos high court presided over by Justice Oyefeso?

NICON Investment and Ibrahim are wondering if judicial notice was taken of Justice Oguntoyinbo’s ruling in which he said “the lone issue formulated for determination by the court is hereby resolved against the plaintiff (AMCON) and in favour of the defendants (NICON INVESTMENT).”

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A NICON Investment executive, in an interview, wondered whether Justice Aikawa’s attention was drawn to Justice Oguntoyinbo’s order before the temporary order granting AMCON the possession of the assets was given.

He said: “In the High Court of Lagos before Justice Oyefeso, Union Bank, in her statement of defence filed in court, admitted that Jimoh had a deposit of over £137 million.

“The bank prayed the court as follows: ‘an ORDER for the sale of the funds standing to the credit of the pound sterling fixed deposit account maintained by the 1st defendant to the counter claimant; the proceed of which shall be applied in liquidation or part liquidation of the judgment sum as may be awarded against 1st and 2nd defendant counter claimants.”

According to him, the £137 million with Union Bank is three times higher than the amount he and his companies borrowed from the bank.

Besides, he claimed the bank acknowledged another deposit of £125 million from another company of his, Global Fleet Oil and Gas Limited, making a total deposit of £250 million with it 10 years ago at five per cent interest.

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“Out of the total deposit of £250 million with Union Bank, £137million was used to secure the loan, he said adding, who is owing who?” he asked.

Ibrahim and his company, the executive said, are upbeat that AMCON cannot sustain the interim order against him and his companies “because there is no returnable date on the court file.”

He also claimed that AMCON “did not sign an undertaking for a temporary injunction in the event that facts were misrepresented to the court as requested by the rules of the Federal High Court.”

According to him, Mr. Kemi Pinheiro (SAN), AMCON counsel in the new case had represented Union Bank in the suit before Justice Oguntoyinbo while Mr. Yusuf Alli (SAN), represented AMCON. Union bank, according to him, opposed AMCON joining the case at the Lagos High Court.

“When was the change of counsel done with the motion on notice with the interim injunction?” he asked.

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NDLEA arrests UK-bound 74-year-old man with 11kg cocaine at Abuja airport

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Operatives of the National Drug Law Enforcement Agency (NDLEA)  have arrested a 74-year-old man at the Nnamdi Azikiwe International Airport Abuja, after cocaine concealed in food items was found in his luggage.

Femi Babafemi, NDLEA’s director of media and advocacy, in a statement on Sunday, said the suspect, identified as Ikwuakalom Nwakoro Emeka, was arrested at the departure hall of the airport on Saturday while attempting to board a British Airways flight to London.

Babafemi said the suspect, who claimed he was travelling to London for vacation, was intercepted during routine checks.

He added that a search of the suspect’s luggage led to the discovery of blocks of cocaine weighing 11 kilogrammes concealed in food items, including ground dry pepper, and wrapped in foil papers and balloons.

Babafemi said the arrest was part of a series of operations carried out by the agency across the country in the past week.

In Lagos, Babafemi said NDLEA operatives acting on credible intelligence arrested Maryam Olalowo at Ikad Hotel and Suites on Etim Inyang Street, Victoria Island, while she was allegedly attempting to sell 89 grammes of cocaine and 20 grammes of Canadian Loud, a strain of cannabis.

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He said the suspect was found with her three children, including an infant, at the time of the arrest.

Babafemi added that she told investigators the illicit drugs belonged to her husband, Ibrahim Olatunji.

He said the husband was subsequently arrested the same day while the woman was immediately released.

Babafemi said Olatunji confirmed ownership of the drugs during interrogation.

“Further investigation revealed that he had previously been arrested, convicted, and sentenced to two and a half years imprisonment for a similar offence in 2015,” the statement reads.

Meanwhile, in another operation in Lagos, Babafemi said NDLEA operatives arrested two suspects; Kalilou Simpara and Saidu Ibrahim, at Ebetu Ero on Lagos Island.

He said officers recovered 68,000 pills of tramadol (250mg and 225mg) after the suspects had loaded the drugs into a truck and were preparing to transport them to Benin Republic on March 9.

Babafemi said a follow-up operation on March 11 led to the arrest of Nnamdi Cyprian, described as the owner of the consignment, at Idumota market on Lagos Island.

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He added that a search of his shop uncovered a parcel prepared for waybill delivery containing 1,000 tablets of tramadol (250mg).

Babafemi said another raid at Idumota market on March 13 resulted in the arrest of Nwanosike Kelvin, from whose shop officers recovered 47,500 ampoules of pentazocine injection.

In Kano state, the NDLEA spokesperson said officers arrested Magaji Dan Azumi, 42, at the Bebeji area with 386 kilogrammes of skunk on March 10.

He said NDLEA officers in Abuja also recovered 282.2 kilogrammes of skunk from a suspect, Isah Wako, 42, in the Gwagwalada area of the Federal Capital Territory (FCT) on March 13.

Babafemi said operatives in Edo state raided the Egwa forest reserve in Aduan village, Orhionmwon LGA, where a suspect, Chinedo Odalonu, 33, was arrested.

He added that officers destroyed 4,218.96 kilogrammes of skunk on two farms in the forest while recovering 16.5 kilogrammes of the same substance.

Babafemi also said no fewer than 339,800 bottles of codeine-based syrup were intercepted in two containers at the Apapa seaport in Lagos on March 14 during a joint examination involving NDLEA officers, customs officials, and other security agencies.

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He said the containers had earlier been placed on a watch list following intelligence suggesting that opioids were concealed in the shipments.

Babafemi said the agency also continued its War Against Drug Abuse (WADA) sensitisation activities across the country, including lectures delivered to students and staff of schools in Nasarawa, Oyo, Delta, Cross River, and Edo states.

He added that the zone 11 command of the agency also paid an advocacy visit to Francis Nwifuru, governor of Ebonyi state.

Babafemi said Buba Marwa, chairman and chief executive officer of NDLEA, commended officers of the Abuja and Lagos airports, Kano, Edo and FCT commands for the arrests and seizures recorded in the past week.

He added that Marwa also praised other commands across the country for maintaining a balance between drug supply reduction and demand reduction efforts.

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I made a mistake not supporting Tinubu in 2023 – Cubana Chief Priest

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Socialite and businessman, Cubana Chief Priest has publicly declared that he made a mistake with his decision not to support President Bola Ahmed Tinubu in the last general election.

Speaking at a political gathering in Imo State, Chief Priest announced a strategic shift, opting to work with the Federal Government rather than be in  opposition.

“At the first election, I didn’t support President Tinubu. I had to be an Igbo boy and made some careless mistake, but they said a first fool isn’t a fool, second fool is a proper fool. Asiwaju is working and he will finish the work. Seyi Tinubu made me see President Tinubu”, he said.

The entrepreneur praised Imo State Governor Hope Uzodimma for fostering a close relationship with the federal government, which he believes has brought development to the state.

Chief Priest also lauded Seyi Tinubu, describing him as a unifying figure who has strengthened relationships across ethnic and regional lines.

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He said years of political opposition has failed to produce the desired results, which informed the decision to change strategy.

“We have decided to partner with the government at the center. We are not ready to fight. We tried fighting and it didn’t work for us,” he said.

Reflecting on his previous stance, he acknowledged, “Politics is a game…we don’t want to lose again and we will never waste our votes again.”

The businessman expressed optimism that growing support for President Tinubu could evolve into one of Nigeria’s largest political movements, promising stronger mobilisation ahead of future elections.

He concluded by urging Nigerians to unite and cooperate with the current administration, offering prayers for Tinubu’s success in office.

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Elegance, excellence, recognition as Wale Tinubu celebrates wife’s big moment in global spotlight

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In the glittering world of high society and corporate influence, moments of genuine pride and admiration rarely go unnoticed. Such was the case when oil magnate and business leader Jubril Adewale Tinubu stepped into the spotlight to celebrate a milestone achievement by his wife, Bola Tinubu who was recently honoured at the prestigious ARISE 100 Women of Impact in Africa Awards.

The award ceremony, organised by the media powerhouse ARISE News, brought together some of Africa’s most accomplished and influential women—leaders whose contributions have left a remarkable imprint across business, governance, philanthropy, and social development. Among this distinguished league stood Mrs. Tinubu, whose recognition reflects years of quiet excellence, commitment, and purposeful impact.

For the energy tycoon, the moment was deeply personal. Known across the continent as the driving force behind the energy giant Oando Plc, the businessman is often celebrated for his boardroom brilliance and strategic leadership. Yet, beyond the corporate boardrooms and global energy deals, he was simply a proud husband applauding the achievements of the woman who stands beside him.

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Taking to social media shortly after the ceremony, Tinubu shared a touching tribute that resonated with many who admire the couple. His message was simple but heartfelt, capturing the essence of admiration and partnership. Referring to the moment as a “proud husband moment,” he congratulated his wife on the prestigious honour and praised the significance of the recognition.

The ARISE Women of Impact Awards have increasingly become one of the continent’s most respected platforms for celebrating female excellence. The initiative highlights women whose work continues to shape industries, inspire communities, and redefine leadership across Africa. For the woman , being counted among this elite group places her firmly within a circle of changemakers whose influence transcends titles and accolades.

Observers at the event noted that her recognition was not merely ceremonial but well deserved. Over the years, she has cultivated a reputation for grace, professionalism, and dedication to meaningful causes—qualities that have earned her admiration within Nigeria’s social and professional circles.

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For those who know the Tinubus, the public celebration was hardly surprising. The couple has long embodied a partnership built on mutual respect, shared ambition, and unwavering support for each other’s pursuits. While Tinubu continues to command attention in the energy sector, his wife has quietly carved out her own path of distinction.
The quiet, steady influence of a woman who commands respect without seeking the spotlight shone brightly on that memorable evening reminding many that true influence often speaks in the calmest of voices.

Beyond her professional accomplishments and social standing, the intelligent lawyer nine years ago, translated her deep concern for child protection into action with the launch of the Cece Yara Foundation, an organisation dedicated to protecting children from abuse and giving young victims a safe platform to speak out against injustice.

Over the years, the foundation has become a powerful voice in the fight against child abuse in Nigeria, offering support, counselling and advocacy for vulnerable children. Through its initiatives, many young victims have found both protection and hope.

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Through these initiatives, she has continued to demonstrate that her influence goes far beyond society circles. Her commitment to protecting the most vulnerable members of society has made her not only a respected figure in elite circles but also a beacon of hope for countless children and families across the country.

In a society where achievements are often measured in grand gestures and headlines, moments like this serve as a reminder that recognition carries deeper meaning when it is celebrated by those closest to us.

For the GCEO of Oando Group, the award was not just another accolade on the social calendar—it was a powerful reminder that behind every remarkable woman is a story of dedication, resilience, and a partner proud enough to celebrate her success before the world.

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