NEWS
Court Awards N3.34b Damages against Sterling Bank over Illegal Occupation of Premises
From Mike Tayese, Yenagoa
Delta State High Court sitting in Effurun has awarded over N3.3 billion cost of damages against Sterling Bank Plc over unlawful sealing, and forceful takeover of Wellington Hotel Ltd premises
Justice Emmanuel Dolor handed down the award in the judgement he delivered on Monday in Suit No.
EHC/75/2020: Wellington Hotel Ltd Vs. Sterling Bank Plc & Anor.Wellington Hotel had through its counsel Obriks Uloho instituted the suit against Sterling Bank Plc and Bay Resources and Allied Services Ltd (Defendants) in May, 2020.
While Wellington Hotel is Claimant in the suit, Sterling Bank Plc and Bay Resources and Allied Services Ltd were 1st and 2nd Defendants respectively.
The financial institution was alleged to have illegally and forcefully taken over Wellington Hotel in Effurun between Sept. 11, 2015 and May 31, 2016.
In the judgement, the Court also set aside the purported sale of Wellington Hotel by Sterling Bank Plc to Bay Resources and Allied Services Ltd.
The judge ordered Sterling Bank Plc to pay N1 billion as general damages and another N2 billion as Special damages for the period of illegal forceful occupation of the hotel’s premises.
He further ordered the bank to pay N1,337,298,750 being special damages for the loss of income for eight months of the illegal and forceful occupation of the hotel’s premises.
Justice Dolor also awarded a sum of N2,895,650.00 against the bank for the destruction of perishable items within the hotel during the period.
He ordered that the defendant should render an account of proceeds made during the illegal occupation and management of the facility within eight months to the claimant.
The judge also ordered that 20 per cent interest be paid on the total damages to Wellington Hotel commencing from the day of the judgement.
He also ordered that the defendant should render an account of proceeds and management of the facility during the illegal occupation of the premises on or before January 25, 2025.
He held that the claimant had locus standi to institute the suit as well as that the claimant was in actual possession of Wellington Hotel at the time of the illegal and forceful invasion.
The Judge however ruled in favour of the defendants that a newspaper publication made during the incident did not amount to defamation noting that the claimant did not call any other witness apart from the Managing Director.
Wellington Hotel Ltd had in a writ of summons sought for a declaration that the defendant’s forcible entry into its premises without the permission of the claimant amounted to trespass.
It also sought for a declaration of the court that the Instigation, prompting and use of officers of the Nigerian Security and Civil Defence Corps (NSCDC) by the defendants to forcibly take over, seal up, completely shut down and interfere with the claimant’s use, occupation and management of Wellington Hotel Ltd was unconstitutional, illegal, unwarranted, irregular and amounted to trespass.
Dr Jonathan Ekperusi and Frederick Agbonifo from Obriks Uloho and Co chambers represented the claimant and commended the Judge for delivering the judgement which they described as “classic”.
When the matter was called on Monday, the defendant did not appear in court nor did he send representatives.
The Deputy Speaker, House of Representatives, Chief Benjamin Kalu, says he will initiate programmes to aggressively disseminate the lofty achievements of President Bola Tinubu’s Renewed Hope Agenda to communities and households in the South-East.Kalu said this on Thursday during the unveiling of the Abia Headquarters of the Renewed Hope Partners (RHP), situated on Ojike Street, Umuahia.
He said that his target was to bring the region to the country’s mainstream politics by embracing the Tinubu’s administration wholly. He said that the Tinubu-led government had performed quite impressively since inception, hence the South-East must show more than a passive acceptance of the administration ahead of 2027.Kalu said: “My dear Ndigbo (Igbo people), the time for a token support has passed.“The pesident’s leadership has fundamentally improved our economy, empowered ouryouth, and begun to bridge the development gap in our zone.“Now, RHP must channel these achievements into electoral victories, ensuring theSouth-East sits at the heart of Nigeria’s renewed hope, as we expect more from the current administration.“By embedding these structures, strategies, and ambassadors into every household conversation, RHP will transform policy wins into popular mandate, guaranteeing that South-East not only benefits from but also drives the continuity of this administration.The deputy speaker also lauded the president’s establishment of the South-East Development Commission (SEDC) in July 2024.According to him, the key objectives of the SEDC include investments in agriculture, manufacturing, and technology tostimulate entrepreneurship and job creation.“Infrastructure development is another major focus, for building roads, railways, and energy facilities to enhance connectivity and spur trade.“Social integration is also prioritised, with initiatives promoting dialogue,reconciliation, and youth empowerment to strengthen unity,” Kalu said.He said that part of his strategies to drive the programme would be to launch “Renewed Hope Councils” in all the South-East LGAs, linked to SEDC outreach teams, turning policy wins intograssroots programmes.He also promised to organise public demonstrations of CNG buses, student-loan awardceremonies, amongst others, “showcasing tangible impacts in Abia, Anambra, Ebonyi, Imo, and Enugu.He said, “the RHP’s mission is to make President Tinubu’s Renewed Hope Agenda a household conversation in every South-East community – so votersunderstand, trust, and ultimately reward this administration in 2027.”The deputy speaker took time to present a detailed account of the president’s performance in different sectors of the nation’s economy.He also cited specific Federal Government’s interventions in critical areas in the South-East, notably gas and energy exploration and exploitation, resumption of work on the Eastern Rail Line, port revitalisation, as well as ecological and environmental interventions, amongst many others.The event was attended by chieftains of the party in Abia, including the state Chairman, Dr Kingsley Ononogbu, two past Speakers of the House of Assembly, Chief Stanley Ohajuruka, who is a member of the SEDC, and Mr Martins Azubuike, amongst others. (NAN)
The Presidency says the Tax Reforms Bill, when passed, will make housing more affordable and available to Nigerians by reducing tax burden on the construction and real estate sectorsThe Chairman of the Presidential Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, made this known in Abuja on Thursday at a Building and Construction Industry Forum.
The forum was organised by the Council of Registered Builders of Nigeria (CORBON) and Housing Development Advocacy Network (HDAN). Speaking on the theme “Nigeria’s Tax Reforms and the Building and Construction Industry: Implications and Opportunities”, Oyedele said the bill has many benefits, but it is being misconceived by some people.According to him, when the bill becomes law, Value Added Tax(VAT) on real estate transactions will be exempted, thereby lowering the cost of building materials and houses.“The bill is designed in a way to favour low income earners contrary to what is being claimed, it will also ease their burden.“There will be no VAT on lands, sale of real estate, and rent is exempted from VAT. Some of these are areas of controversies in the past.“There is an exemption on stamp duties for rents below N10 million a month and capital gains tax is also exempted on the sale of dwelling houses.m,” he saidOyedele added that, in the bill, building materials production including non- metallic products are eligible for priority sector incentives to boost production.He said reforms will be carried out on land transactions including titling and harmonisation of property taxes.“The Tax Reforms Bill will improve the affordability of housing. It will provide relief for people who are paying rent because what this bill is going to do is to remove a lot of the tax burden.“The essence is to make life better for everybody and improve the economic activities in the building and construction sectors, and by extension, the whole of the economy,” he saidOyedele encouraged Nigerians to seek more understanding of the tax reforms and stop relying on social media and headlines that were misinforming them.Speaking in the same veins, the Minister of Housing and Urban Development, Ahmed Dangiwa, said the bill offers a whole relief to construction firms and contractors.Dangiwa, represented by the Director, Public Building, Temitope Gbemi, said the ministry has fully aligned its housing policies with fiscal reforms.He said they were also working with tax authorities to ensure that real estate and housing investments were guided by clarity, equity, and investor protection.On his part, the CORBON Chairman, Samson Opaluwah, identified poor access to finance and multiple taxation as major drawbacks toward the expansion of the council’s potentials.He expressed the hope that the tax reforms bill would address the challenges and moreThe Executive Director of HDAN, Festus Adebayo, said the VAT exemption on lands, real estate and building materials producers was a welcomed development.He advocated for incentives in the tax reforms bill that would attract real estate developers and investors to go into building low cost houses for low income earners.(NAN)The Catholic Diocese of Kafanchan has confirmed the release of Rev. Fr Ibrahim Amos, who was kidnapped from his residence by bandits in the early hours of Thursday.Amos is the Parish Priest of St. Gerald Quasi Parish, Kurmin Risga in Kauru Local Government Area of Kaduna State.
In a statement, Rev. Fr Jacob Shanet, Chancellor of the Kafanchan Diocese, said Amos returned home unharmed at about 10pm on Thursday. Shanet thanked security agencies and members of the public for their prayers and overwhelming show of concern following the priest’s abduction. “Your kind gestures, love and prayers are a testament to the fact that we are not alone in the struggle to respect and promote the dignity of human life.“While we appreciate God for everything, we equally want to thank everyone for walking and praying with us in such a dark and terrible moment.“May the Blessed Virgin Mary, the mother of priests, religious, and all the angels, intercede for those in captivity and bring them back to their families and communities safe and sound,” he said. (NAN)
S’East: Dep. Speaker, Kalu, Begins Grassroots Mobilisation for Tinubu’s Second Tenure
ShareThe Deputy Speaker, House of Representatives, Chief Benjamin Kalu, says he will initiate programmes to aggressively disseminate the lofty achievements...
How Tax Reforms Bill will Make hHousing Affordable – Presidency
ShareThe Presidency says the Tax Reforms Bill, when passed, will make housing more affordable and available to Nigerians by reducing...
Delta Mass Defections Painful, Disappointing, Says Damagum
ShareThe Peoples Democratic Party (PDP) has described mass defection involving Gov. Sheriff Oborevwori, other elected and party leaders in Delta...
Kidnapped Kaduna Catholic Priest Regains Freedom
ShareThe Catholic Diocese of Kafanchan has confirmed the release of Rev. Fr Ibrahim Amos, who was kidnapped from his residence...
NCDMB, Renaissance Energy Commit to Collaboration, Local Content Devt
ShareFrom Mike Tayese, Yenagoa The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Felix Omatsola Ogbe yesterday declared total...
Catholic Church Confirms Abduction of Priest in Kaduna Community
ShareThe Catholic Diocese of Kafanchan has confirmed the abduction of Rev. Fr Ibrahim Amos, Priest of St. Gerald Quasi Parish,...
Enugu Meets with Residents of Aguowa Ahead of Property Verification Exercise
ShareFrom Sylvia Udegbunam, Enugu The Enugu Government has met with leaders of the Aguowa community ahead of the relocation process...
Veteran Journalist, Tony Obiechina Clocks 70 Years
ShareBy David Torough, Abuja A veteran journalist, Tony Obiechina has marked his 70th birthday anniversary with thanksgiving to God. His family...
Lafarge Africa Records 80% Revenue Growth in 2025
ShareLafarge Africa Plc, leading manufacturer of a range of cement brands, has recorded a revenue of N248.35 billion for the...
Gunmen Hijack Two Vehicles, Abduct over 19 Travellers in Benue
ShareFrom Attah Ede, Makurdi Gunmen suspected to be Fulani terrorists yesterday reportedly hijacked two commercial vehicles and kidnapped no fewer...
Arabic
Chinese (Simplified)
Dutch
English
French
German
Italian
Portuguese
Russian
Spanish