Day: October 8, 2019

N4.2billion debt: AMCON seeks judgement against Al Kahf Resources owner, Badamasi Sheu

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Asset Management Corporation of Nigeria has filed an application before a Federal High Court in Lagos, urging the court to enter  judgement in its favour in the sum of N4,282,918,018.43, against a businessman, Alhaji Badamasi Sheu and his company, Al Kahf Resources Limited.  In an affidavit in support of an application for summary judgement sworn to by a supervisor with AMCON- Mr. David George, and filed before the court by a Lagos lawyer, Barrister Asama Kadiri, the deponent alleged that sometimes in 2006 Al Kahf Resources Limited approached Oceanic Bank…

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Sex-for-grades scandal rocks UNILAG

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Due to the escapades of randy some lecturers, Nigerian universities caught global attention yesterday. The focus on the nation’s universities was triggered by yesterday’s release by BBC African Eye, of a video allegedly showing academics propositioning undercover female reporters. Wearing a secret camera, a reporter, Kiki Mordi, had allegedly visited Dr. Boniface Igbeneghu, a lecturer of the Department of European Languages and Integrated Studies, Faculty of Arts, University of Lagos (UNILAG), posing as a 17-year-old admission seeker. The clip went on to show the lecturer allegedly making sexual overtures to…

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US$11m fraud: Obinwanne Okeke to forfeit N280m

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After his arrest on August 6, 2019 at Dulles, Virginia in the United States of America by the US Federal Bureau of Investigation (FBI), Obinwanne Okeke a.k.a Invictus Obi is again facing another battle as a Federal High Court sitting in Lagos has ordered the temporary forfeiture to the Federal Government of the sum of N280,555,010 linked to him. The ruling by Justice Rilwan Aikawa came after an ex-parte application filed on Monday by the Economic and Financial Crimes Commission (EFCC) against Okeke after the said amount was traced to…

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Buhari presents 2020 budget to National Assembly today

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Nigeria President, Muhammadu Buhari, will today present an appropriation bill of N10.729 trillion for the 2020 fiscal year before a joint session of the National Assembly. It was learnt that the extraordinary Federal Executive Council (FEC), presided over by President Muhammadu Buhari yesterday sanctioned the adjustments made by the National Assembly to the Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF-SP) which reviewed upward the earlier N9.12 trillion estimates. The gathering, originally billed for last Saturday when the president returned from his state visit to South Africa, was shifted…

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