Author: Lawbreed Limited

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The Chief Judge of Lagos State, Hon. Justice Kazeem Olanrewaju Alogba has established two additional judicial divisions covering new geographical areas across the state. In a public notice issued on January 10th, the Lagos State Judiciary announced the creation of the Eti-Osa Judicial Division and the Yaba/Surulere Judicial Division. The Eti-Osa Division will cover the entire Eti-Osa Local Government Area, Eti-Osa East LCDA and Iru/Victoria Island LCDA. While the Yaba/Surulere Division will cover Lagos Mainland LG, Surulere LG and Yaba LCDA. According to the Chief Registrar, T.A Elias, the commencement of legal operations, filing of new cases and adjudication will…

In a move to avoid any managerial and administrative vacuum, the Central Bank of Nigeria (CBN) has swiftly appointed new management teams for Union Bank, Keystone Bank and Polaris Bank whose boards and management were dissolved on Wednesday. Although all appointments are interim, Yetunde Oni takes over Managing Director of Union Bank while Mannir Ubali Ringim is the Executive Director. The interim managers for Keystone are Hassan Imam, who is the Managing Director and Chioma A. Mang who is appointed as the Executive Director. Lawal Mudathir Omokayode Akintola is the managing director for Polaris and Chris Onyeka Ofikulu is the…

The Minister of Power, Chief Adebayo Adelabu, has revealed that the Federal Government, while committed to subsidizing electricity tariffs for the less privileged, is currently reassessing the procedures for implementing a cost-reflective tariff in the electricity sector. In a recent statement, Adelabu outlined the government’s emphasis on enhancing supply to consumers and increasing meter availability in alignment with President Bola Ahmed Tinubu’s electricity turnaround agenda, as highlighted in his New Year message. President Tinubu had previously frozen a tariff increment approved by the Nigerian Electricity Regulatory Commission (NERC) in July 2023, resulting in a government subsidy of N600 billion. Projections…

The High Court of the Federal Capital Territory has renumbered the courts in the FCT Judiciary following the recent retirement of Hon. Justice Muawiyya Baba Idris. In a letter signed by the Chief judge, Hon. Justice Husseini Baba Yusuf and addressed to all Judges, the circular stated that “it has become imperative to renumber the Courts”. Read the full notice below OFFICE OF THE HON. CHIEF JUDGE HON. JUDGE’S CHAMBERS HIGH COURT OF THE FEDERAL CAPITAL TERRITORY Plot 426, Tigris Crescent, Maitama, P.M.B. 89, Abuja. FCT/JD/CJ.183 9th January, 2024 To All Hon. Judges, High Court of the FCT, Abuja. My…

The Central Bank of Nigeria (CBN) has dissolved the boards and management of Union Bank, Polaris Bank, Keystone Bank, and Titan Trust Bank. The apex bank made the disclosure in a formal statement that was uploaded to its official X microblogging account. The statement reads, “The Central Bank of Nigeria (CBN) has dissolved the boards and management of Union Bank, Polaris Bank, Keystone Bank and Titan Trust Bank. The action became necessary due to the non-compliance of these banks and their respective boards with the provisions of Section 12(c), (f), (g), (h), of Banks and Other Financial Institutions Act, 2020.…

The Federal Government through the Federal Ministry of Education on Tuesday, inaugurated an inter-ministerial committee to look into the activities of private and foreign universities operating in the country. The committee has, as some of its members, the Registrar of the Joint Admissions and Matriculation Board, Prof. Ishaq Oloyede; the Minister of Youths, Jamila Bio-Ibrahim; and the Minister of Foreign Affairs, Yusuf Tuggar among others. One of the committee’s terms of reference stated that private universities established in the last 15 years be investigated. “Without prejudice to the periodic accreditation exercise of the NUC, examine whether or not private universities…

Cadbury Nigeria has offered to swap its $7.7 million (N7.03 billion) debt owed to Cadbury Schweppes Overseas Limited for more equity. Cadbury Schweppes Overseas Limited, controlled by Mondelēz International Inc, is a major investor in Cadbury Nigeria with 74.97 percent stake. The conversion of the $7.7 million debt to equity, according to the company, will result in the creation of 402,082,657 shares. These will be handed to Cadbury Schweppes at N17.50 per share. In a statement on Tuesday sent to the Nigerian Exchange Limited, NGX, Cadbury Nigeria said it borrowed $23 million from Cadbury Schweppes to settle outstanding third-party loans…

Operatives of the Economic and Financial Crimes Commission (EFCC) raided the headquarters of the Dangote Group on Thursday in connection with an ongoing investigation into forex allocations in the country. Sources told PREMIUM TIMES that on arrival at the headquarters of one of Africa’s largest conglomerates in Lagos, the EFCC operatives demanded documents relating to allocation of foreign exchange to the group in the last ten years. They then scrutinized the documents provided by officials of the group for hours, carting some of them away. This newspaper learned that the EFCC had written to 52 companies directing them to supply…

Most universities around the world grapple with issues of academic corruption, hence the recent directive by the National Universities Commission (NUC) for vice-chancellors to compile a comprehensive list of full professors in their respective institutions over reports of fake professors becomes an eye-opener. The commission had asked VCs to forward the list, which must include names of professors, departments, year of professorship and area of specialisation. The order, it was learnt, followed reports about the prevalence of fake professors in the nation’s tertiary institutions. The commission in November 2019, said it uncovered about 100 fake professors in the universities. NUC’s…