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$1.5m debt: Court freezes billionaire, Muhammadu Indimi’s Oriental Energy bank accounts

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A Federal High Court in Lagos has restrained Oriental Energy Resources Limited owned by billionaire, Alhaji Muhammadu Indimi, from withdrawing, transferring, removing any funds, properties, or assets, outside the jurisdiction of Nigeria or encumbering any funds belonging to or held to the account of the company with the 12 commercial banks except for payments of salaries.

Justice Chukwujekwu Aneke made the order in an exparte application filed and argued by Mr. Uchechukwu Obi (SAN), on behalf of a limited liability company, Uniterm Nigeria Limited, who alleged that Oriental Energy Resources Nigeria Limited owes it the sum of $1,453,356,76.

The court also restrained Oriental Energy Resource Limited, an oil exploration and production company, either acting alone or in concert with the Central Bank of Nigeria, and the Nigeria Petroleum Development Company, from exporting, transferring or removing from the jurisdiction of the court any asset, crude oil or gas due to the company from Ebok Marginal Field or any other oil block, pending hearing and determination of the motion on notice.

Investors lose N312bn as stocks’ bearish position persists

The court also granted an interim order attaching and taking legal possession of all funds, deposits, credit, and receivables belonging to or due to the company with or in the custody of the 12 banks listed before the court.

The banks are, First City Monumental Bank Plc, Access Bank Plc., Ecobank Plc, Fidelity Bank, First Bank Plc, Guarantee Trust Bank, United Bank for Africa, Zenith bank Plc, Standard Chartered Bank, Stanbic IBTC Bank, Polaris Bank Plc, Union Bank Plc.

Besides, the court directed all the banks listed, to within seven days from the day of service of the orders file an affidavit disclosing the respective balances, funds, deposits, credit, and receivables, held in or the accounts of the company at the date of the order supported by a certified print out of the statements of accounts covering three months, pending the hearing and determination of the motion on notice.

In a 63-paragraph affidavit in support of the application, sworn to by the General Manager, Finance of Uniterm Nigeria Limited Company, Adekunle Okunnowo, it was alleged that Oriental Energy Resources Limited, was desirous of engaging a consortium comprising a local and foreign contractor to provide it with a Rig, specialized drilling unit, local and foreign personnel, and catering services required in the Well Drilling project for Ebok Field located within OML 67.

He averred that Oriental Energy Resources Limited contacted Borr International Operations Incorporated, a company engaged in the business of providing drilling services, and one existing under the laws of Marshall Island and having its registered office at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands.

He further averred that the petitioner was to provide local personnel and catering and incidental services on the rig location; while Borr was to provide the Rig, drilling unit, and expatriate personnel for the project comprised in the contract.

The petitioner, Borr, and the respondent as separate juristic entities fully aware of their roles, rights, and obligations, entered into a business relationship in May 2021.

According to the deponent, the drilling operations and other contractual services commenced in May 2021 and ended in October 2021.

He stated that the Petitioner had submitted a total number of 61 invoices totalling $2,232,638.67 and N104,120,896.20.

The deponent added that all of these duly issued invoices were sent directly by the Petitioner to the Respondent in accordance with the Ordering and Invoicing process and most of them were allegedly received and honoured by the Respondent.

He stated that the Respondent, however, failed to pay six outstanding invoices all of which amount to the $1,453, 356.76 VAT inclusive.

He stated that sometime in October 2021 the Respondent alleged that Borr supplied Rig that malfunctioned thereby leading to temporary stoppage of work within the period resulting in non-productive time (NPT) and consequential spread cost losses.

In the light of this, the Respondent had sent a letter to Borr on 14th October 2021, informing Borr that they were disputing the service rates on Borr’s specific invoices dated 6th September 15th September 2021 in view of the non-productive time (NPT) and spread cost losses.

The letter was addressed to Borr, which was simply copied to the petitioner.

However, the Respondent never disputed the invoices submitted by the Petitioner for the local personnel supply and catering services rendered by it or queried any aspect of the services rendered by the Petitioner in accordance with the OERL Ordering and Invoicing Process,

He stated that the Respondent struggled throughout the contract tenure to comply with the contractual payment terms of 30 days from final invoices submission dates as agreed, instead payments were mostly delayed and irregular and some remained outstanding till date.

He stated that due to the persistent refusal of the Respondent to make payments to the Petitioner, on the six outstanding invoices, the Petitioner wrote a letter to the Respondent dated 14th March 2022 and 5th April 2022, demanding payment of the outstanding debt of $1,453,356.76 VAT inclusive.

By the terms of the contract, the Petitioner is also entitled to interests on the invoices as provided for in the contract. This is because the 30-day period stipulated in the contract has elapsed since the invoices were raised and submitted.

In his ruling, Justice Aneke granted the restraining order.

The suit has been adjourned till September 26, 2022, for a hearing, and it is expected that the defendants would have filed their defence.

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Young Orators Winner Receives Warm Welcome at Lagos State House of Assembly

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The esteemed Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, despite his busy schedule alongside honorable colleagues Hon. Nureni Akinsanya representing Mushin Constituency I, and Hon. Lukmon Olumoh representing Ajeromi Ifelodun Constituency I, and Mr. Olalekan Onafeko, the Clerk of the House warmly welcomed the winner of the 2024 Young Orators competition, Miss Folakemi Adebayo, a 200l Law student of the Univeristy of Ibadan to his office at the Lagos State House of Assembly, Complex Alausa – Ikeja..

 

This event, marked by the presence of representatives from the Peat Philips Foundation and Lagos Television, was a poignant acknowledgment of burgeoning talent within our community. Guided by the amiable and indefatigable Mrs. Rukayat Olabode, Head, Tour & Guide Unit. The delegation was hosted with utmost hospitality and conducted through the meeting seamlessly.

 

The invitation extended by the Speaker’s office served as a testament to the significance of the Young Orators initiative, a collaborative effort between the Peat Philips Foundation and Lagos Television, aimed at nurturing and showcasing the oratory skills of young individuals, thereby fostering leadership and public speaking abilities.

Amidst an atmosphere brimming with anticipation and appreciation, the Honorable Speaker greeted the delegation with enthusiasm, acknowledging the commendable efforts of the Peat Philips Foundation in shaping the future leaders of society. The winner, undoubtedly filled with pride and accomplishment, stood alongside representatives from the foundation, cherishing the auspicious occasion.

 

Rt. Hon. Mudashiru Obasa commended the dedication and talent exhibited by the young orator, emphasizing the importance of initiatives that empower and uplift the youth, recognizing them as the cornerstone of tomorrow’s society.

 

The courtesy visit underscored the collaborative spirit between governmental bodies and grassroots organizations in nurturing talent and fostering community engagement. As the event drew to a close, optimism and inspiration pervaded the air, with both parties reaffirming their commitment to supporting initiatives that promote youth development and civic participation.

 

The encounter at the Lagos State House of Assembly serves as a beacon of hope, signaling a promising future for young orators and their invaluable contributions to society.

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1.4 million UTME candidates scored below 200 – JAMB

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The Joint Admissions and Matriculation Board, on Monday, released the results of the 2024 Unified Tertiary Matriculation Examination, showing that 1,402,490 candidates out of 1,842,464 failed to score 200 out of 400 marks.

The number of candidates who failed to score half of the possible marks represents 78 per cent of the candidates whose results were released by JAMB.

Giving a breakdown of the results of the 1,842,464 candidates released, the board’s Registrar, Prof. Ishaq Oloyede, noted that, “8,401 candidates scored 300 and above; 77,070 scored 250 and above; 439,974 scored 200 and above while 1,402,490 scored below 200.”

On naming the top scorers for the 2024 UTME, Oloyede said, “It is common knowledge that the board has, at various times restated its unwillingness to publish the names of its best-performing candidates, as it considers its UTME as only a ranking examination on account of the other parameters that would constitute what would later be considered the minimum admissible score for candidates seeking admission to tertiary institutions.

“Similarly, because of the different variables adopted by respective institutions, it might be downright impossible to arrive at a single or all-encompassing set of parameters for generating a list of candidates with the highest admissible score as gaining admission remains the ultimate goal. Hence, it might be unrealistic or presumptive to say a particular candidate is the highest scorer given the fact that such a candidate may, in the final analysis, not even be admitted.

“However, owing to public demand and to avoid a repeat of the Mmesoma saga as well as provide a guide for those, who may want to award prizes to this set of high-performing candidates, the Board appeals to all concerned to always verify claims by candidates before offering such awards.”

Oloyede also noted that the results of 64,624 out of the 1,904,189, who sat the examination, were withheld by the board and would be subject to investigation.

He noted that though a total of 1,989,668 registered, a total of 80,810 candidates were absent.

“For the 2024 UTME, 1,989,668 candidates registered including those who registered at foreign centres. The Direct Entry registration is still ongoing.

“Out of a total of 1,989,668 registered candidates, 80,810 were absent. A total of 1,904,189 sat the UTME within the six days of the examination.

“The Board is today releasing the results of 1,842,464 candidates. 64,624 results are under investigation for verification, procedural investigation of candidates, Centre-based investigation and alleged examination misconduct.”

Oloyede also said the board, at the moment, conducts examination in nine foreign centres namely: Abidjan, Ivory Coast; Addis Ababa, Ethiopia; Buea, Cameroon; Cotonou, Republic of Benin; London, United Kingdom; Jeddah, Saudi Arabia; and Johannesburg, South Africa.

“The essence of this foreign component of the examination is to market our institutions to the outside world as well as ensuring that our universities reflect the universality of academic traditions, among others. The Board is, currently, fine-tuning arrangements for the conduct of the 2024 UTME in these foreign centres,” he said.

 

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Nigerian Pastor Slams N500Million Suit On Church Member Who Demanded Return Of His Lexus SUV After Alleged Failed Prophecy

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Dr. David Emmanuel Ovie, the Head Pastor and General Overseer of the God in Action Liberation Mission has slammed a five hundred million naira (N500 million) suit on one of his church members who demanded the return of his SUV from the church after an alleged failed prophecy.

We gathered the church member identified as Temitope Monday Diamond gave his Lexus RX330 to the church after a prophecy.

 

Temitope told SaharaReporters that the pastor of the church at Okuokoko in the Uvwie Local Government Area of Delta State asked him to sacrifice his most precious property so that things could work well for him financially.

 

He said, “This pastor told me to sacrifice my most precious property so that things will be working well for me financially which I did by sacrificing my vehicle, Lexus RX330.

 

“After four months and things had not picked up as he said, my wife called him to know what was happening but he got angry and told me that my wife was rude and that he wanted to refund the money he got when he sold the vehicle – which is N4 million.

 

“We have been waiting for him to send the money since around December and January but he had refused to do so. We called and texted him but no response, we had to go to the church with a few friends and two soldiers who were not armed, just to accompany us (for security purposes).

 

“He called the youths of the community to beat us up before handing us over to Ebrumede police station. When we got there, we were detained. We later got bailed with N200,000 before the Divisional Police Officer could hear from us. The DPO called us to his office and we narrated everything to him as the pastor lied to him that we were kidnappers.

 

“The DPO judged the case in our favour and demanded that the car be refunded or he should pay the N4 million he made from selling the car. He agreed that he would be paying one million naira every week in February so that by month’s end, he would finish paying the money.

 

“By the second week of March, he still hadn’t paid a penny. Then the IPO in charge of the case called to tell us that the lawyer was pleading on his behalf and that he would be paying one million naira every month end. Then I got angry and said if he (the pastor) wanted to stress me over the money, he should return my car for breaching the agreement we had at the DPO’s office.

 

“We later heard that he filed a suit against us at Orerokpe High Court. The court was to sit on Monday, April 15 but was adjourned to May 10.

 

“The lawsuit says he is suing us for N500 million for coming to his church with an army and that the car cannot be returned because it had been sold. And that we are using police from Asaba to threaten him and his members, which is false.”

 

However, in a court document obtained by SaharaReporters on Tuesday signed by one Ogedengbe, the Applicant (General Overseer) alleged that he was arrested and detained on January 21, which Temitope said was the same day he and his friends stormed the church to ask for the N4 million he had promised to send.

 

The respondents in the document are Temitope Monday Diamond as the 1st respondent; Divisional Police Officer, Ebrumede Police Station, Delta State as 2nd respondent and the Commissioner of Police in Delta State as 3rd respondent.

 

The relief sought by the applicant reads in part, “A declaration that the arrest and detention of the applicant on the 21st day of January, 2024 by officers of the 3rd Respondent attached to the office of the 2nd respondent at the behest of the 1st Respondent is a gross violation of the applicant right to personal liberty guaranteed under section 35 (1) of the constitution of the Federal Republic of Nigeria 1999 (as amended).

 

“A declaration that the threatened arrest of the applicant by officers of the 3rd respondent at the instance of the 1st respondent over demand for the return of a car donation made to the God in Action Liberation Mission is a threatened violation of the applicant’s right to personal liberty guaranteed by section 33(1) of the Constitution of the Federal Republic of Nigeria 1999 (as amended).

 

“The sum of five hundred million naira (N500, 000,000.00 only as damages.”

 

When contacted by SaharaReporters to hear his version of the story, the cleric said, “What I can tell you is that the matter is in court. I charged the matter to court because they came into the church with thugs and started fighting me and trying to harm me.

 

“It was during a live service in the middle of a wedding; that was when my members started fighting them.

 

“They came with weapons; knife and battle axe. One of them came with a gun as I was told. We handed them over to the community chairman while he took them to the police station.”

 

When asked whether he was arrested and detained by the police on January 21 as claimed in the court document, he said, “My lawyer asked me not to answer any further questions.”

 

“I don’t know what the constitution says, I only know the bible,” he added.

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