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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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NAFDAC Begins Clampdown On Sachet Alcohol, Cites Risks To Children And Youth

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The National Agency for Food and Drug Administration and Control (NAFDAC) has commenced full enforcement of the ban on the production and sale of alcohol packaged in sachets and polyethylene terephthalate (PET) bottles below 200 millilitres, following a resolution of the Nigerian Senate.

The Director-General of NAFDAC, Prof. Mojisola Adeyeye, disclosed this on Wednesday in Lagos during a media briefing organised by the agency.

According to the News Agency of Nigeria (NAN), NAFDAC had on November 11, 2025, announced plans to begin enforcement of a total ban on the affected products by December 2025, in compliance with a directive issued by the Senate.

Adeyeye explained that the agency has now received a fresh formal authorisation from the upper legislative chamber to proceed, adding that enforcement actions have already commenced nationwide.

The Senate resolution of November 2025 followed a motion sponsored by Senator Ned Nwoko (Delta North), which was debated during plenary earlier this year. In moving the motion, Senator Nwoko raised concerns over the widespread availability of high-alcohol-content drinks packaged in sachets and small bottles, warning that their low cost and ease of concealment posed serious public health and social risks, particularly to minors and young adults.

The motion, which enjoyed broad bipartisan support, was debated by lawmakers who expressed alarm at rising cases of alcohol abuse among school-age children and youths. The Senate subsequently adopted the motion and resolved to direct NAFDAC to enforce existing regulations prohibiting the sale of alcoholic beverages in sachets and small-volume containers.

Speaking at the briefing, Adeyeye said the enforcement drive is aimed at safeguarding public health and protecting vulnerable groups, especially children, adolescents, and young adults, from the harmful effects of alcohol consumption.

“The proliferation of high-alcohol-content beverages in sachets and small containers has made such products easily accessible, affordable, and concealable,” she said.

She added: “We have already started the enforcement to ban alcohol production in sachets and bottles below 200ml after receiving the order from the Senate. NAFDAC is not against alcohol, but we are against its proliferation in high concentrations in sachets and small bottles, which makes it easy for children to access.”

Adeyeye noted that before her tenure, some sachet alcohol products contained between 50 and 90 per cent alcohol, describing the levels as dangerously high and detrimental to public health.

She said NAFDAC had previously directed manufacturers to reduce alcohol content to 30 per cent, but many resisted the directive, citing concerns over job losses and potential investment setbacks.

According to her, the matter was escalated to the Federal Ministry of Health, which subsequently granted manufacturers a five-year transition period from December 2018 to January 31, 2024, to restructure their operations and comply with regulatory standards.

Adeyeye reaffirmed the agency’s commitment to protecting public health, stressing that NAFDAC would continue to prioritise the safety of vulnerable populations through sustained regulatory enforcement.

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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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