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The long running case between Guaranty Trust Bank and Innoson finally had its day in the Supreme Court, and although there have been some wild tales on what transpired, here is the factual story of how it went down.

Even before the doors of the Supreme Court had shut for the day, what was meant to be a simple directive by the Apex Court on the case between Guaranty Trust Bank and Innoson had been turned on its head, with false versions of the Court’s directives spread online and across social media.

It began with the claim, contained in Press Release circulated by Innoson, that the Supreme Court had ordered “GTB to Pay Innoson’s N14Billion Judgment Debt into an Interest Yielding Account.” The records of the Apex court show no such thing, instead it asked both parties to return to the Court of Appeal, Enugu Judicial Division, for a hearing on GTB’s appeal scheduled for the 14th of June, 2018.

GTB has also released a statement on the actual events of the day at the Supreme Court. “The attention of GTBank has been drawn to false, mischievous and malicious statements circulating in the news and social media in respect of a purported directive by the Supreme Court of Nigeria to the Bank to make payments to one of its debtor Customers,” the Bank said in an official statement. “There was no directive or Order issued by the Supreme Court of Nigeria to the Bank to make any payment to any of its debtor Customers. We again reiterate that there is no iota of truth in the falsehood being peddled by desperate and mischievous elements and the General Public should disregard same in its entirety,” the Bank added.

In fact, the Supreme Court simply directed GTB and Innoson to return to the Court of Appeal for a hearing of the Bank’s substantive appeal on the matter. It is actually in the tradition of the apex court to issue definitive rulings only on Fridays, and what it delivered today was more or less a directive. However, court feelers say this is actually a win for GTB as it grants what the Bank has always wanted—and what Innoson has consistently stalled, which is for the Court of Appeal in Enugu to hear the Bank’s appeal.

The Bank’s appeal of a 2013 High Court judgment gotten by Innoson had stalled at the Court of Appeal for the past two years due to the pending motions filed by both parties at the Supreme Court. On Thursday, 7th of June, 2018 the Apex Court finally sat on the matter and asked both parties to withdraw their motions and return to the Court of Appeal, because GTB’s appeal at the lower court had not been heard.

“The implication [of the Supreme Court Directive] is that both parties are going back to the court of appeal for the Bank’s substantive appeal to be heard,” a source in one of the legal teams of the parties said. “The court said it won’t hear any applications and asked all parties to withdraw their applications.” One of the applications that was withdrawn and struck out by the Supreme Court is the plea filed by Innoson on 27th of February, 2015 askingfor the court to order GTB to issue a money guarantee to the court. This is interesting because it means that, rather than rule for the Bank to pay Innoson 14bn as the latter had claimed, the apex court struck out that particular request.

Back to the Appeal Court

Following the directive by the Supreme Court, the substantive appeal filed by GTB will now be heard at the Court of Appeal, Enugu Judicial Division, on the 14th of June, 2018.This appeal has been repeatedly delayed by the Innoson camp using moves such as itsmotion filed by on October 3, 2017to prevent the appeal from being heard. Back then, the Court of Appeal had expressed surprise that Innoson (the Judgment Creditor) is not desirous of allowing the appeal to proceed.

Again, in the proceedings of 24th October 2017 in CA/E/275/2015 between same parties, the same Prof. Mbadugha appearing for Innoson and other Respondents had scuttled proceedings when he refused to proceed with Appeal even though it was clear that the Appeal was ripe for hearing and opted to pay costs. Prof Mbadugha said to the courts: “I ask for an adjournment even though all motions have been taken… I offer N50,000.00. The Appeal Court responded; “This application for adj. has no basis, but in the interest of justice it is hereby granted. The appeal is ripe for hearing. Cost of N100,000.00 to the Appellant against the Respondents. Appeal adjourned to 17/4/18 for hearing.”

However, following today’s hearing at the Supreme Court, it seems all hurdles have been cleared for GTB’s substantive appeal to be heard by the Court of Appeal.

 

Festus Igbinosa is a financial analyst and he writes from Abuja

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Babajide Sanwo-Olu(@JideSanwoolu) Unveils “THEME”, His 5 Pillars of Development #ForAGreater Lagos

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APC Lagos Gubernatorial Candidate, Babajide Sanwo-Olu, in a series of television interviews and special events unveiled “THEME”, the 5 Pillars of Development agenda for a greater Lagos, while calling on his opponents to make the campaign season about issues that affect the people.

The 3-time Lagos Commissioner, who is a graduate of University of Lagos and an alumnus of Harvard Kennedy School of Government, was the brain behind many reforms that birthed key transformational initiatives in Lagos such as the private sector-led Lagos State Security Trust Fund, Lagos State Pension Commission, Lagos Bus Management (LAGBUS) among others.

As an Advisor to the Bureau of Public Enterprise (BPE) on privatization, concession and commercialization of a number of public assets under the Federal Government privatization programme, Sanwo-Olu had the privilege of working on some landmark deals that resulted in the optimization of public assets including the Aluminum Smelter Company (ALSCON), National Arts Theatre, Lagos International Trade Fair Complex, Ikoyi Hotels Limited. Sanwo-Olu also worked on the Federal Government Debt Conversion Programme.

Sanwo-Olu was at Television Continental, Channels Television, Lagos Television, Nigeria info FM, Wazobia FM and the Pharmaceutical Society of Nigeria in a very busy week of agenda setting and stakeholders engagement.  

Sanwo-Olu unveiled the acronym, ‘THEME’’ for his policy initiatives, which he detailed as follows:   

T- Traffic Management & Transportation.

“Our plan is to integrate road, rail and water transportation in Lagos to solve the problem of commuting within the metropolis. We will fix all bad roads and expand our road infrastructure. We will complete existing road projects and fix inner city roads.  We will improve navigation on our waterways to facilitate water transportation and promote private investment. Part of our plan is to complete the ongoing Blue Line rail project from Okokomaiko-Marina and kick-start the Red line from Agbado to Marina.

On traffic management, we have identified over 60 gridlock points as the major causes of traffic around Lagos. We are going to work with the federal government to complete the Lagos-Apapa road, build a 5000-capacity trailer park and also work with the Nigerian Port Authority for a strict on-call system that notifies trailers when to pick-up containers to avoid the indefinite waiting period. This is a very important part of our plan.  We have a comprehensive strategy for achieving set goals”. We are particularly committed to reducing travel time within Lagos.

H- Health & Environment

Our healthcare plan will be anchored on comprehensive health insurance scheme for Lagosians to improve access and affordability. We will improve primary and complete many secondary health facilities. We will work with private investors as well to ensure that Lagos is the health care destination for Nigerians. I am meeting with different health care stakeholders, and was a guest at the Pharmaceutical Society of Nigeria end of the year event, where we discussed ways to improve health care delivery in Lagos.

To keep our environment clean and healthy, we will rejig the waste management system by getting LAWMA to deliver better on its mandate as the regulator, while the PSP model will be made to respond better in collection of waste in Lagos. On the advocacy, we have plan to turn waste to wealth. This we will do by incentivizing waste sorting by our people. We must begin to separate organic waste from other household waste and put them in separate waste bags for recycling companies that will turning waste to primary and secondary raw materials. Those who properly sort their waste can make money.  

E- Education & Technology.

“Our plan is to increase access to public education in Lagos, especially public primary and secondary schools. We will immediately embark on renovation of our schools and make them conducive for learning. Teachers will be trained for capacity enhancement in modern teaching methodology. We want to make teaching a more lucrative field of interest and attract the best of teachers to Lagos schools. We want to work with our educational institutions to improve curriculum and include entrepreneurial studies in our educational programmes.   

We also want to create a smart economy on the back of technology. We will create incubation hubs in Lagos for technology startups to flourish, while also ensuring that we introduce coding into our public school curriculum.

I understand the transformative power of Technology. Technology will improve the rule of law, education, ease of doing business and government processes. Technology will reduce approval process circle in public-private sector dealings. It will improve government efficiency. Giving Entrepreneurs and SMEs the opportunity to thrive will lead to more jobs and more public-private sector partnerships”.

M- Making Lagos a 21st century economy

“We will support the private sector by creating an enabling environment for businesses to thrive. We will simplify access to government services to make the private sector blossom. We are going to work with the Power Distribution and Power Generating companies to solve the problem of power in Lagos. By this, we will have enough power in Lagos to drive the economy and improve the lives of the citizens. We provide more infrastructure and improve the existing ones to support private businesses and increase productivity of Lagosians. Lagos should be a 24-hour economy.  Security will be very key item on our policy agenda. We will strengthen security agencies in Lagos and equip them to do better.

E- Entertainment & Tourism

“Lagos is the centre of culture and entertainment capital of Africa. We will boost our creative economy with tourism, culture and entertainment. We will develop all our tourism assets in Lagos and create tourism calendar around our important events, like the Eyo festival –  such that it will attract local and international tourists. We will work with the music, film and fashion industries to make Lagos an international tourist destination.

Again, security and infrastructure are key to tourism and entertainment economy because people must feel safe to go out anytime of the day and visit tourist centres.

According to Sanwo-Olu, specific details of the THEME initiatives will be unveiled to the public  

Supporting the 5 main pillars, he has also listed the following as areas of focus;

  • Infrastructure
  • Housing
  • Ease of doing business
  • Land reform
  • Power

Every Sunday on a twitter chat, Babajide Sanwo-Olu(@JideSanwoolu) engages with the electorate, directly answering questions about his plans for a greater Lagos.

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Ritual Killings: Police Arrest Six Native Doctors Native Doctors As Delta Girls Fortify Selves Against ‘Yahoo Boys

Gbemileke Ajayi

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Following the increasing spate of kidnapping and ritual killings in Delta State, detectives attached to the criminal investigation department ( CID) at the state police command on Thursday arrested six native doctors In Ughelli town and Abraka community through intelligence gathering.

The commissioner of police in the state, Anthony Agbidi, who confirmed the arrest of the suspects to newsmen in Asaba, disclosed that the detectives acted on intelligence gathering, adding that three of the suspects were arrested in Ughelli town, while the three other suspects were nabbed in Abraka community with strange substances including prepared charms in different containers.

CP Agbidi said: “The suspects were arrested on intelligence gathering by officers and men of the state CID and they recovered different prepared charms in containers. The suspects made useful statements to the police and they shall be charged to court upon completion of investigation”.

He however called on members of the public to always provide useful information to the police with a view to arresting criminals in their hideout.

He gave the names of the suspects to include: Bernard Thomas 52, Babalola Akin 48, who claimed to have hailed from Ijebu community, Lucky Omorofu, 47, Maculey Obaro, 52, Aghalokpe Kennedy 49, and Chief Chiedu Agbarho 56 years old, adding that the suspects will remain in the police custody until investigations are completed and they are charged to court.

Meanwhile, the police have confirmed moves by young girls across the state to fortify themselves against being kidnapped for rituals purposes.

CP Agbidi, while exchanging views with newsmen on Thursday in Asaba, disclosed that young girls between the ages of 18 and 20 years have allegedly resorted to patronizing native doctors to fortified them against ritual killings among others.

He said; “the report reaching us has indicated that young girls have allegedly resorted to patronizing native doctors to help fortify them against ritual activities. The police have gone after these fraudsters and Yahoo, Yahoo boys. We will bring all of them to book soon.”

Reports say the ritualists allegedly use female pants, breasts, tongues, hearts, womb including other vital organs to enhance their diabolic activities.

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LASU Will Get Faculty Of Pharmacy When I Become Governor —— Sanwo-Olu

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To strengthen capacity in pharmaceutical profession in Lagos State, the governorship candidate of the All Progressives Congress in the 2019 election, Babajide Sanwo-Olu, has assured members of the Pharmaceutical Society of Nigeria that he will ensure that Lagos State University gets a faculty of Pharmacy, if he elected as the Governor.

Sanwo-Olu made the promise on Thursday during his interactive session with the Lagos State chapter of the PSN.

He said the state university after more than three decades of existence should be a centre of academic excellence for the production of manpower in the field of pharmacy.

He said: “To strengthen the profession and boost manpower in the field of Pharmacy, I am convinced that our state university should have a Faculty of Pharmacy.

“If elected, we will make sure LASU within our four years have Faculty of Pharmacy.

“It is not just right that we have Medical College without Faculty of Pharmacy.

“I am promising you that our government will ensure that everything is done to make Faculty of Pharmacy a reality for the State-owned University.

“As professional body of pharmacists, I will implore you to give us a position paper on what we need to do that will enable us achieve our objective and I can assure that as government, we will do all within our powers to make it a reality.”

The APC candidate told the pharmacists the importance he attaches to their profession and the entire health sector in general.

Sanwo-Olu said: “Your profession is one of the most important fields for human existence.

“No one can joke with the health sector.

“So when I received your invitation, I pledged to attend this event regardless of my schedule because it is about health and we must listen to you.”

The Chairman of Lagos State chapter of the PSN, B. T. O. Adeniran, urged Sanwo-Olu to help pharmacists practicing in the State when he gets to government.

Adeniran described the issue of turnaround time in getting drugs at government hospitals across the State as very cumbersome.

She said: “We need the government to look into the welfare and working condition of pharmacist working in Lagos State.

“We want upward review of salary and allowances.

“On capacity development, we need more training for our members so we can serve the state and the public better as integral part of the health system.”

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