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.
NEWS
New Medical Doctor Appreciates Ex-Reps Deputy Chief Whip, Hon Adekoya for University Sponsorship

By Mike Odiakose, Abuja
A fresh graduate medical doctor from Olabisi Onabanjo University, Ogun State, Dr Ogunmakinju Oluwaseun, has expressed touching appreciation to a former Deputy Minority Whip of the House of Representatives, Hon Adesegun Abdel-Majid Adekoya, for the full sponsorship of his university education.
Hon Adekoya is the founder of Prince Abdel-Majid Foundation (PAM Foundation), a non-governmental organisation engaged in uplifting Nigerians, especially the less privileged, children, youths and women.
In an open letter of appreciation, Dr Ogunmakinju Oluwaseun, said his dream of becoming a medical doctor would have been a mirage if it not for the support of Hon Adekoya who stood by him in the past six years.
He declared that Hon Adekoya, popularly known as Attacker from his football-playing days as a youth, took over the full sponsorship of his university education without allowing him to pay a dime.
He also added that through the mentorship of Hon Adekoya he was able to emerge as the President of OOU Students Union.
He declared that his stint as SUG President has already instilled leadership qualities in him.
Dr Ogunmakinju Oluwaseun wrote: “Dear Rt. Hon. Abdul-Majid Adekoya Adesegun, I write with a heart full of gratitude to sincerely appreciate you for being the sole benefactor of my academic journey.
“From my very first day in 100 Level to my final year in 600 Level, your generosity through the scholarship you granted me has been the bedrock of my success.
“Today, by the grace of God and through your unwavering support, I have emerged as a qualified medical doctor. This achievement is not mine alone; it is a testament to your belief in me, your investment in my future, and your commitment to empowering the next generation.
“Words cannot fully capture the depth of my appreciation, but I pray that the Almighty rewards you abundantly, grants you good health, and continues to bless your endeavors.
“Your kindness has not only changed my life but has also inspired me to be a source of help to others, just as you have been to me.
“Thank you for making my dream a reality.”
Ogunmakinju Oluwaseun added: “I wish to sincerely appreciate ATTACKER for taking full responsibility for my tuition fees from 100 Level to 600 Level — without allowing me to pay a dime.
“This rare and life-changing opportunity, made possible through the Prince Abdul Majid Foundation (PAM Foundation), is something I will forever hold in deep gratitude.
“Today, after 6 years of rigorous training, I proudly stand as a Medical Doctor, awaiting the privilege of taking the Hippocratic Oath soon.
“Beyond academics, the leadership lessons I gained under the mentorship of Rt. Hon. Adekoya gave me the edge to emerge as OOU Students’ Union Government President.
“And academically, I am proud to have made a Distinction in of of the courses I offered during my journey through medical school.
“Thank you for believing in me, investing in my dreams, and giving me the platform to grow both as a leader and a scholar.”
NEWS
Bandit Tax in Zamfara, Ghost Town in Kwara, signs of Failure – ADC

By Johnson Eyiangho, Abuja
The African Democratic Congress (ADC) has expressed deep concern over the reported extortion of over N56 million from farmers in Zamfara State by armed groups as well as the chilling video of an entire village in Ifelodun Local Government of Kwara State, completely abandoned to bandits.
The party noted that Nigeria, under President Tinubu and the APC is sliding into a dangerous new phase of state failure. In a statement by its National Publicity Secretary, Mallam Bolaji Abdullahi, on Friday, the party said a situation where farmers had to pay money to terrorists before they could gain access to their own farmlands, is not just a Zamfara tragedy, but a national warning.Abdullahi said that a situation where people had to abandon an entire town to bandits, in the very heart of the country, is not just a local challenge but an evidence of national surrender. “When armed gangs can collect N56 million from farmers for the ‘right’ to plant food, the issue is no longer about insecurity. It is about criminal elements contesting the right to govern a part of Nigeria. When criminals can tax citizens at gunpoint, it means the state has surrendered its monopoly of force and state authority is in retreat.” The statement said it is discouraging that this could be happening in a country with one of the largest defence budgets in Africa, yet its farmers were left to bargain with warlords for their survival. It recalled that in the same Zamfara state only a few days ago about 50 people were abducted in one swoop, saying that added to this is the eerie picture of an entire town where all the people, the young, the old and the infirm had to seek refuge elsewhere for fear of bandits attacks. Abdullahi said there were other cases which showed alarming pattern suggesting that other parts of the country considered safe may not be so for long. “The pertinent question therefore is whether the Tinubu-led APC government is still in charge and can still be trusted to do its most fundamental duty, which is to protect the lives and properties of Nigerians. “We recall that in November 2014, President Bola Tinubu, leader of opposition party at the time, asked President Goodluck Jonathan to resign over the Boko Haram Challenges in The North-East of the country. His words: “If you control the armed forces and you are the Commander-in-Chief of the Armed Forces of the Federal Republic, why should any part of this country be under occupation? And you give us excuses every day. In any civilized country Jonathan should have resigned.”He said though the security situation that President Tinubu was using to campaign in 2014 had multiplied exponentially under his party and is currently enjoying great prosperity under his direct watch, no one is calling on him to resign. “The ADC does not want President Tinubu to resign. We only ask him to do his job. We also ask the pertinent question, why did the President think that the security situation in Rivers State warranted the declaration of state of emergency, but the one in Zamfara with industrial scale kidnapping and a direct challenge to the authority of the Nigerian State by way of bandit tax does not even deserve a direct comment from him,” the statement asked.It urge President Tinubu to drop whatever else that pre-occupied him and direct his attention to Zamfara State and other parts of the country menaced by bandits. “If the Tinubu administration cannot guarantee the safety of our farms and farming communities, if people could be forced to abandon their homes out of fear, then it has failed in its most basic responsibility. You cannot boast that you are in charge of your country while your citizens are negotiating their survival with criminals.”NEWS
Oyo govt Denies Fake Pension Verification Notice

The Oyo State Government has denied a notice currently circulating among pensioners concerning a supposed verification exercise. This is contained in statement in Ibadan on Friday by the Commissioner for Establishments and Training, Prof. Salihu Adelabu. Adelabu described as fake any message requesting pensioners to submit photocopies of their pension certificate, account details, and phone numbers to the ministry.
He urged pensioners to ignore such messages and remain vigilant against misinformation targeting retirees. He emphasised that the ministry would contact eligible individuals only when it is their turn to receive their benefits. The Commissioner added that all official information is communicated solely through recognised and credible channels. Adelabu advised pensioners to verify any suspicious message before acting, and reaffirmed the state’s commitment to retirees’ welfare. He said the government would continue to uphold transparency and due process in pension and gratuity matters. He also called on the public to share only verified information, saying protecting pensioners from fraud is a shared duty. (NAN)