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Again, Oando Floors Securities Exchange Commission

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Again leading oil and gas company, Oando has floored Securities Exchange Commission, SEC as Justice Ayokunle Faji, sitting at a Federal High Court in Lagos, Friday, 5  July 2019 granted leave to Oando Plc to file a motion for a judicial review of the SEC’s decision imposing a fine of N89,675,000 on it.

Justice Faji, granted “an order of certiorari bringing up to the Federal High Court for the purpose of being quashed, the decision of the first respondent (SEC) contained in its letter dated 31st May 2019”.

SEC Acting Director-General Mary Uduk, SEC and Mutiu Sunmonu, who was appointed as Oando’s interim head, are the first to third respondents. 
 

The court also granted an order of certiorari for the quashing of SEC’s directive to Oando to convene an extraordinary general meeting on or before July 1 to appoint new directors and articulate remedial measures for alleged corporate governance lapses.  The court further granted an order of certiorari for the quashing of a press release by SEC on June 1 appointing an interim management team to be headed by Mr Mutiu Sunmonu (the third respondent) to oversee Oando’s affairs.

The judge granted “an order of prohibition and/or an injunction restraining and preventing the first and second respondents by themselves, agents, servants or whomsoever, howsoever from enforcing or seeking to enforce the decision contained in the letter dated 31 May 2019.”

Justice Faji also granted “an order of prohibition and/or an injunction restraining and preventing the second respondent from enforcing or seeking to enforce the decision of the first respondent contained in the press release made on Sunday, 2 June, 2019 appointing an interim management team to be headed by the third respondent to oversee the affairs of the applicant.”

The court made “a declaration that the first and second respondents acted ultra vires and without jurisdiction in making the decision contained in the letter of 31 May 2019 which conveyed the imposition of a fine of N89,675,000 on the applicant…”

Also granted was “an order directing that the leave sought herein if granted shall operate as a suspension and or stay of the decision of the first respondent contained aforesaid in its letter of 31 May 2019 as it relates to the applicant and as contained in the press release made on 2 June 2019 appointing an interim management team to be headed by the third respondent.”

Justice Faji directed Oando to ensure service on the respondents of the order and the application for judicial review within 48hours. 

He adjourned until July 22 for the hearing of the application for judicial review before the vacation judge. SEC had on May 31 announced the conclusion of an investigation of Oando and ordered its Group Chief Executive Officer, Mr Wale Tinubu, his deputy Mr Omamofe Boyo, and other affected board members to resign. It barred Tinubu and Boyo from being directors of public companies for a period of five years.

SEC subsequently set up an interim management team headed by Sunmonu to oversee Oando’s affairs and to conduct an Extraordinary General Meeting on or before July 1.

In an ex-parte application filed through their counsel, Olasupo Shasore (SAN), Tinubu and Ojo prayed for an order of certiorari to quash SEC’s purported imposition of N91,125,000 fine on Tinubu.

The application was granted. Oando, also through Shasore, filed the latest application seeking for judicial review of the SEC decisions against it with a view to quashing them, which Justice Faji granted

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2019 IMD: NGO promises cash reward, other incentives for Nigerian men

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A non- governmental and not for profit organization, The Victoria Adeyanju Male Mentorship Foundation(VAMMF) is set to reward Nigerian men with cash gifts in celebration of this year’s International Men’s Day (IMD) 2019.
The NGO is focused on empowering and developing professionals that will contribute to the development of nation-building in Africa.
The International Men’s Day, which is widely celebrated on the 19th of November 2019 will have  Nigerian men compete for the sum of Ten thousand naira(N10,000) only. Participants will post a two-minute video on Instagram of his male hero, stating why he stands out from others and why he is your male hero, with the hashtag (#mymalehero), (#VAMMF).
All entries close by the 29th of November as a winner who has the highest likes, repost, and friends tags will be announced on the  2nd of December 2019.
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Noise Pollution: Lagos Threatens To Close Down Mosques, Churches, Others

Gbemileke Ajayi

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In a bid to control noise pollution, the Lagos State Government has said it will not hesitate to close down any mosque, church, night clubs and others, which constitute an environmental nuisance.

Commissioner for the Environment and Water Resources, Tunji Bello, in a statement, yesterday stated that the Lagos State Environmental Protection Agency (LASEPA) had been mandated to apply the full weight of the law.

He said the action became imperative because his office had been inundated with complaints and petitions from many residents and associations all over the state about the noise levels of many of the leisure centres and religious homes.

Bello, who added that on a continuous basis, LASEPA officials will be going around religious centres, homes and others, warned that anyone found to have exceeded the allowed level of sound output will be closed down and the appropriate sanctions applied.

The commissioner also lamented that his office had also discovered many leisure centres/religious homes that contravened, after being reopened by the government, usually go back to the same noise pollution for which they were earlier axed,

While disclosing that resident associations have been involved in the control of noise pollution in the state, he added that any shut centre, will not be reopened without a letter of guarantee from the residents association of such an area.

He advised religious and leisure centres to procure soundproof equipment which would lessen the sound that emanates from them.

Bello said the administration of Governor Babajide Sanwo-Olu will not allow any business concern to put the well being of residents at peril for whatever reason.

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Men Are Scum ! Nigerian Gay Threatens To Expose Married Man Who Used, Dumped Him

Gbemileke Ajayi

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A Nigerian gay who was used and dumped by his married partner who also is gay has threatened to expose him to his wife for dumping him.

Relationship adviser and blogger, Joro Olumofin shared the story of this young man on his Instagram page on Thursday.

Read his narration below:

You would recall that Nigeria’s former President, Goodluck Jonathan signed a bill that criminalizes same-sex relationships, defying western pressure over gay rights and provoking US criticism.

The bill, which contains penalties of up to 14 years in prison and bans gay marriage, same-sex “amorous relationships” and membership of gay rights groups, was passed by the national assembly.

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