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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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Rotary Club of Ikoyi Metro To Commission Over N100m Project In Lagos

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The Rotary Club of Ikoyi Metro will officially commission its flagship community project, the renovation and equipping of wards C1 and C2 at the General Hospital, Odan, Lagos, on Saturday, January 24, 2026, valued at over N100 million.

The intervention includes a comprehensive upgrade of the hospital wards, with old windows in wards F1 and F2 replaced with durable aluminium frames, alongside fresh exterior painting to improve the safety, comfort and overall appearance of the facility.

In addition to the structural works, the Rotary Club of Ikoyi Metro is donating critical medical and support equipment, including wheelchairs and crutches.

The project also provides water tanks, a tank stand and a water treatment facility to enhance hospital operations and ensure reliable access to clean water for patients and medical staff.

Speaking on the project, the United President of the club, Rtn. Alex Chukwu stated that the initiative aimed to strengthen healthcare infrastructure and improve the conditions under which patients receive care and healthcare workers operate.

He said the investment reflects the club’s commitment to supporting public health institutions and delivering sustainable, high-impact community projects.

The commissioning ceremony is expected to attract medical personnel, community leaders and Rotary members, further highlighting Rotary’s focus on community-driven healthcare solutions and partnerships.

The over N100 million project marks a major milestone in the Rotary Club of Ikoyi Metro’s 2025 to 2026 service year and underscores its dedication to sustainable development initiatives and improved healthcare delivery across Lagos State.

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Succession Tension In Ijebu Land As Alleged Smear Campaign Targets Omooba Abimbola Onabanjo

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Concerns are growing across Ijebu land following what community stakeholders describe as a calculated campaign of persecution against Omo Oba Abimbola Onabanjo, a prince widely regarded as one of the leading aspirants to the throne of the Awujale of Ijebu Land.

Investigations by Ogun Corner reveal that the situation escalated after false claims began circulating that Omo Oba Onabanjo was involved in an Economic and Financial Crimes Commission (EFCC) case. However, after careful checks and inquiries by Ogun Corner, it was discovered that the allegation is entirely untrue, as no such case exists against him with the anti-graft agency.

Despite the lack of evidence, sources say the unfounded claim was aggressively amplified, fueling a wider smear campaign. Observers note that the attacks soon extended beyond rumor-mongering to what has been described as a deliberate digital assault on the prince’s personal presence online.

According to reliable information available to Ogun Corner, all of Omo Oba Abimbola Onabanjo’s social media platforms came under coordinated attacks, a move seen by many as another leg of the broader effort to malign his person and diminish his public standing. The attacks reportedly succeeded in bringing down his social media pages. However, sources confirm that recovery efforts are currently underway to restore the accounts, which are believed to have been compromised by hackers.

Beyond the digital space, concern has also been raised over alleged attempts to intimidate traditional kingmakers. Community leaders allege that some interests, driven by political considerations, are exerting pressure on the custodians of tradition to prematurely announce a preferred candidate, a move widely criticized as an affront to established customs.

Reacting to the unfolding situation, prominent voices within Ijebu land have condemned the alleged actions, stressing that such conduct does not reflect the values or history of the Ijebu people.

“This is not our way,” said Chief Adekunle Adebayo, a respected elder in the community. “The Awujale stool is sacred. You do not desecrate it with falsehoods, intimidation, or desperation. Every qualified prince has the right to aspire.”

Echoing similar sentiments, Mrs. Funke Sodiya, a civic leader in Ijebu-Ode, urged restraint and patience.
“The process must be allowed to run its full course,” she said. “The kingmakers should not be intimidated under any circumstance.”

Traditional historians have also reminded the public of the established succession order. Alhaji Tunde Lawal, a cultural commentator, noted that tradition clearly points to the Fushegunwa Family as next in line to produce the Awujale, urging all parties to respect due process and avoid actions capable of destabilizing the community.

On his part, sources close to Omo Oba Abimbola Onabanjo told Ogun Corner that it has consistently been his position that no individual should be torn down in the name of ambition. The sources maintained that he firmly believes the collective interest of Ijebu land, Ogun State, and Nigeria must always take precedence over personal or political gains.

As tensions linger, calls are growing for calm, truthfulness, and strict adherence to tradition. Stakeholders warn that dragging the revered Awujale institution into controversy could have long-term consequences if care is not taken.

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Lagos Issues Warning As Residents Scoop Fuel From Fallen Tanker

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The Lagos State Government has issued a warning to residents following reports of fuel scooping from a fallen tanker at the Tincan–Liverpool Bridge area of Apapa.

The warning came after a diesel tanker overturned on the bridge, inward Mile 2, causing fuel to spill and blocking traffic along the busy corridor.

In an urgent situation report on Monday, the Lagos State Emergency Management Agency, in a statement signed by the Permanent Secretary, LASEMA, Olufemi Oke-Osanyintolu, confirmed that the tanker was leaking fuel and that emergency responders had been deployed to the scene.

“Our attention has been brought to a fallen tanker at the above location, which is leaking fuel. All emergency responders have been activated and are en route to the location,” the statement read.

LASEMA cautioned members of the public against dangerous behaviour around the incident scene.

“Members of the public are urged to exercise EXTREME CAUTION to avoid any secondary incident from scooping product or lighting any flame near the area,” the agency warned.

Motorists were also advised to avoid the axis.

“Motorists are advised to take alternative routes. The disaster management plan has been activated. Updates to follow,” the statement added.

Videos circulating on social media showed residents scooping diesel from the fallen tanker despite the obvious risk.

Also reacting, the Lagos State Traffic Management Authority confirmed that the tanker was loaded with diesel and that the spill was spreading on the bridge due to damage to the tank.

“There’s a fallen tanker loaded with diesel on top of Liverpool Bridge inward Mile 2. The diesel is spreading on the bridge as a result of the damaged tank,” LASTMA said in a statement on its official X handle.

The authority said security agencies had been alerted and traffic diverted to reduce the risk to commuters.

“Men of the Nigerian Police Force from Area B and other safety agencies have been swiftly notified. Traffic has been diverted to that other side of the bridge for safety measures,” the statement said.

LASTMA urged motorists to comply with traffic officials on ground.

“Please adhere strictly to all instructions from the traffic managers,” it added.

Authorities have continued to warn that scooping fuel from accident scenes poses serious risks, including fire outbreaks and loss of lives, as emergency agencies work to contain the situation at the bridge.

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