NEWS
Firm Drags Zenith Bank to UK Parliament, ICC over $64m S’Court Contract Judgment
By Tony Obiechina, Abuja
The stage is set for another round of legal battle between Zenith Bank and Owigs and Obigs Nigeria Limited over what the company terms institutional sabotage.In a petition before the UK Parliament and the International Criminal Court Hague, Owigs and Obigs, is seeking justice for breach of contract and a perceived miscarriage of justice as a result of a Supreme Court ruling.
The Company had signed an agreement with Zenith Bank to finance a Letter of Credit in 2018 but the Bank failed to issue the LOC after the contract had been signed. According to the Company, it led to several years of legal battle before it ended at the Supreme Court.However, the matter took a dramatic turn when the Apex Court absolved the Bank of any wrongdoing.Owigs and Obigs is alleging that the Bank colluded with the Apex Court to subvert a $64 million contract guaranteed by international trade law.The company insists that Zenith Bank violated its obligations, noting that the Supreme Court judgment absolved the bank of wrong doing and reconstructed the contract through what it described as ‘judicial reengineering’.Owigs and Obigs has already submitted a petition to the British Parliament just as it also filed a petition at the International Criminal Court (ICC) at The Hague and the International Court of Arbitration in France, citing judicial corruption, economic sabotage, and gross violation of commercial treaty obligations.Also, the company has filed a complaint to the National Judicial Council (NJC) seeking a review of the case. In the letter signed by the company’s Chairman Donatus Emeka Okorie, Owigs and Obigs, wondered “how an irrevocable Documentary Letter of Credit contract (MT 700) can function with the Seller’s bank as the Issuing Bank operate with three parties without a Confirming Bank, or be issued for a contract between the Seller and non-parties with the Buyer relegated to a third-party role in the Sales Contract.””These rulings by the Supreme Court are unfathomable even to the most advanced computer science or artificial intelligence but unfortunately, these were the rulings that were applied as basis to form the self-destructive judgment being complained about as we now seek redress.”The Supreme Court in a case with Appeal No: SC/CV/709/2020, ruled in favor of Zenith Bank (Seller’s bank), which had served as the confirming bank in an irrevocable Letter of Credit (Contract No. JYOONL-001/KTTA140415) worth $64 million, with total indebtedness of $42.96 million and N3 billion claims inform of damages arising from sudden disappearance of funds belonging to the company and default financial obligations subject to the Agreement between parties.The transaction was an international contract governed by binding international trade laws (UCP). It further stated that confirmed letters of credit are governed by globally accepted standards, such as the Uniform Customs and Practice for Documentary Credits (UCP 600), which obligate confirming banks to honor payment once conditions are met. Violations of such standards not only erode the rights of exporters but also compromise global trust in cross-border financial instruments.Owigs and Obigs Chairman, Donatus Emeka Okorie said that if Zenith Bank admitted during cross examination in court that they understood the terms of the contract, why did they go ahead to breach it.“The contract is not the normal contract; it is a contract subject to a treaty known as UCP. That UCP rules is a modern form of trading. And the terms are coded in trade terminologies which are interpreted by international rules for interpretation of trade terms. This very contract in issue, the rules used in interpreting it is known as INCOTANCE 2010 revision that is the one this contract was subject to.“During cross examination, our lawyers asked Zenith Bank whether they really understood the agreement before they signed and they said they understood. They asked them further, did they read it carefully before they signed and they said yes,” he said. He noted that the avoidable verdict has not only imperiled the operations of the company globally, it also negatively impacts the image of the Nigerian business class in international trade. While calling on the NJC to urgently intervene, the company said the outcome will determine whether it will approach the ECOWAS Court, UN, and other global bodies for the Respondent Bank to explain how it obtained a favorable judgment based on non-existent Contract or false premises uses being deemed the Issuing Bank despite being the Seller’s Bank, a three-party letter of credit without a Confirming Bank, and immunity for banks to breach contracts without consequences. “The Supreme Court fraudulent ruling has left the bank red-faced, unable to claim victory before the public. With the judgment’s legitimacy in tatters, the questions arise: Will the National Judicial Council allow the Defaulting Bank to retain this “stolen property,” or will it be retrieved and handed to the rightful owner, upholding justice and accountability? The Council’s response will determine the fate of Nigeria before the international business community.“The Respondent Bank, as a financial institution, should have distanced itself from the judgment based on a fictitious Letter of Credit that doesn’t exist on earth. Instead, the bank’s acceptance of the judgment has sparked global concerns and suspicions of collusion between the judges and the bank. This may lead the international business community to question the credibility of both the bank and Nigeria’s judicial system in handling trade matters, potentially tarnishing the country’s image.“Can the Court provide examples of countries where such an unconventional Letter of Credit (LC) has been used? Why did they ignore evidence and fabricate an LC in their judgment, contradicting the one presented in court?,” the company added.
Foreign News
Thousands of Drivers Wrongly Fined for Speeding Since 2021
Thousands of drivers could have speeding fines cancelled after a fault saw some cameras falsely triggered on English A roads and motorways.
National Highways said it had found 2,650 wrongful speed camera activations since 2021 due to a delay between cameras and variable speed signs.
Affected drivers will be contacted by police and be reimbursed for any fines while points will be removed from their licences where needed.
Not all camera activations are enforced, so not all of the wrongful activations will have resulted in fines.
National Highways apologised for the error and chief executive Nick Harris said a fix for the issue has been identified.
“Safety is our number one priority.
All drivers should continue observing the posted speed limits as normal. Anyone who has been impacted will be contacted by the relevant police force,” he said.National Highways, which runs England’s motorways, blamed an “anomaly” in how variable speed cameras were interacting with signs on some A roads and motorways.
It meant a delay of around 10 seconds between cameras and relevant variable speed signs, meaning some drivers were incorrectly identified as speeding after the limit had changed.
The body said the 2,650 incidents since 2021 represent fewer than two each day, compared with more than 6 million activations of speed cameras on the affected roads over the same period.
It said the anomaly has impacted 10% of England’s motorways and major A roads.
The fault affects all of the variable speed cameras on smart motorways, and two on the A14 which links the north and the West Midlands to East Anglia.
It is working with police to check activations and promised nobody will now be wrongly prosecuted.
Meanwhile, police forces have stopped issuing fines from variable cameras until they have confidence in their accuracy.
A Department for Transport spokesperson said: “We apologise to anyone who has been affected. Safety was never compromised, and we are working with policing to ensure nobody is incorrectly prosecuted in future.
“Enforcement is still in place, and the public can remain confident that only motorists who break the rules will be penalised.”
Foreign News
French Court Sentences Ex-DR Congo Rebel, Politician to 30 Years in Jail
A French court has sentenced a former rebel leader and politician from the Democratic Republic of Congo to 30 years in jail after finding him guilty of complicity in crimes against humanity more than two decades ago.
Roger Lumbala headed a rebel movement backed by neighbouring Uganda accused of committing atrocities during a period known as the Second Congo War.
The judge said the 67-year-old was found guilty of ordering or aiding and abetting torture and inhumane crimes, summary executions, rape constituting torture, sexual slavery, forced labour and theft.
Lumbala, who was living in France when he was arrested nearly five years ago, has refused to accept the legitimacy of the court in Paris.
He did not attend the trial, which began last month, though he was in the dock to hear the verdict on Monday.
Lumbala also served as a minister in DR Congo’s transitional government from 2003 to 2005 and later as a member of parliament.
Several years later the Congolese government issued an arrest warrant for him over his alleged support for the M23, a rebel group currently active in the eastern DR Congo, prompting him to flee to France.
The Second Congo War, which raged from 1998-2003, involved nine countries, numerous rebel groups and led to the estimated deaths of between two and five million people.
At the time Lumbala led the Rally of Congolese Democrats and Nationalists (RCD-N), which allegedly carried out atrocities during a campaign between 2002 and 2003 called “Erase the Slate”.
The operation targeted members of the Nande and Bambuti ethnic groups in the north-eastern provinces of Ituri and North Kivu who were accused of supporting a rival militia.
A UN team that investigated in its aftermath said it was characterised by “premeditated operations using looting, rape and summary execution as tools of warfare”.
Lumbala’s case was prosecuted under the principle of “universal jurisdiction”, which allows French courts to seek justice related to crimes against humanity committed abroad.
Five non-governmental organisations, including Trial International and the Clooney Foundation for Justice, pooled their expertise to participate in the trial, helping support survivors to testify and requesting expert analyses.
Trial International, a Geneva-based justice campaign group, said 65 survivors, witnesses and experts testified before the court about the Erase the Slate operation.
After the verdict, it issued a statement from two of the survivors – David Karamay Kasereka and Pisco Sirikivuya Paluku.
“We were scared but came all the way here because the truth matters. For years, no one heard us,” they said
“We would have preferred to face Roger Lumbala, to look him in the eyes. But this verdict marks a first step toward reclaiming pieces of ourselves that were taken from us.”
During the trial Mr Kasereka, 41, described how his father and neighbours were tortured and killed by Lumbala’s men.
Paluku, who is a now 50-year-old nurse, told of how the rebels robbed and injured him, killed his uncle and raped his friend’s wife.
“We hope that this will serve as a lesson to those who continue to bring grief to the people of Congo, and particularly to Ituri,” he told the Reuters news agency.
Lumbala’s legal team, which has 10 days to file an appeal, called the sentence excessive. Prosecutors had sought a life sentence.
Eastern DR Congo, which is rich in minerals, has been wracked by conflict for more than 30 years, since the 1994 Rwandan genocide. Several peace deals going back to the 1990s have collapsed.
Over the years a number of other militia leaders, including Thomas Lubanga, Germain Katanga and Bosco Ntaganda, have been put on trial and convicted by the International Criminal Court (ICC) for abuses committed in the east of DR Congo.
Human rights groups welcomed Monday’s verdict as a milestone for further accountability in the long-running conflict there.
“This verdict is historic. For the first time, a national court has dared to confront the atrocities of the Second Congo War and show that justice can break through even after decades of impunity,” Trial International’s Daniele Perissi said in a statement.
Education
Benue Orders Refund of N106,000 WAEC/NECO Fees charged by School
The Benue State Government, through the Education Quality Assurance and Examinations Board, BEQAE, has directed Jewel Model School, Makurdi, to immediately reverse the N106,000 being charged to parents for the registration of West African Examination Council, WAEC, and National Examinations Council, NECO, describing the levy as excessive and unjustifiable.
The directive followed a series of petitions from aggrieved parents who accused the school of imposing arbitrary examination fees.
Acting on the complaints, the Board summoned the school’s proprietor, principal and members of the Parents-Teachers Association, PTA executive to a meeting in Makurdi where they reportedly failed to justify the amount being demanded.
Speaking during the engagement, the Executive Secretary of BEQAEB, Dr. Terna Francis, clarified that the officially approved fee for WAEC registration was N28,000, while NECO was yet to announce its charges for the 2026 examinations.
“Schools are only permitted to collect officially approved examination fees, with a handling charge not exceeding N5,000 per examination,” Francis stated.
He further stressed that candidates were not mandated to register for both WAEC and NECO, noting that such decisions should be left to parents and students.
“Registration for WAEC and NECO is optional, not compulsory. Any additional costs must be transparently discussed and mutually agreed upon by parents, not imposed without consultation,” he added.
Francis also expressed concern over reports that parents at the school had been denied platforms to air their views, alleging that PTA meetings had not been held for nearly two years and that parents were restricted from commenting on the school’s WhatsApp communication platform.
He equally condemned the practice of routing school and examination payments through the proprietor’s personal bank account, describing it as a breach of accountability and transparency.
“Such practices undermine proper auditing and are unacceptable in a regulated educational system,” he said.
Francis consequently, directed the Director of Enforcement and Compliance Operations, Rev. Fr. Dr. Terungwa Tor, to place the school under close monitoring to ensure full compliance with the Board’s directives.
Warning against the exploitation of parents, Francis noted that schools found imposing undue financial burdens on learners risk severe sanctions, including the withdrawal of their operating licenses.
“These exploitative practices only worsen the problem of out-of-school children, which the government is determined to address,” he said.

