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Court Prohibits FG From Selling Nigeria Air’s Shares To Ethiopian Airlines

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A federal high court in Lagos has prohibited the federal government from selling the shares of Nigeria Air to Ethiopian Airlines.

 

The temporary injunction was given in a suit marked FHC/L/CS/2159/2022 and filed by registered trustees of the Airline Operators in Nigeria (AON), Azman Air Services Limited, Air Peace Limited, Max Air Limited, United Nigeria Airline Company Limited, and Topbrass Aviation Limited, the plaintiffs.

 

The suit has Nigeria Air, Ethiopian Airlines, Hadi Sirika, minister of aviation, and Abubakar Malami, attorney-general of the federation (AGF), as the first to fourth defendants.

 

In the enrollment order dated November 15 and seen by TheCable, A. Lewis-Allagoa, the judge, said the government, represented by the aviation minister, and the AGF should not proceed on an “establishment agreement” until the substantive matter of the suit is heard and determined.

 

While asking all the parties in the suit to maintain “status quo”, the judge ordered an accelerated hearing of the case.

 

Meanwhile, in the originating summons of the suit, the plaintiffs formulated five questions to the court to determine, one of which reads:

 

“Whether the entire process for the sale and transfer of shares of the 1st defendant to the 2nd defendant and its consortium by the 3rd and 4th defendants is in line with the provisions of the Infrastructure Concession Regulatory Commission (Est.) Act, 2005, Federal Competition and Consumer Protection Act, International Civil Aviation Organization (ICAO) Convention, the National Policy on Public Private Partnership (N4P), sections 76-81 of the Federal Competition and Consumer Protection Act, and does not affect the entire process including the selection, approval or grant to the 2nd defendant and its consortium by the 3rd and 4th defendants is not invalid and thereby entitling the entire process to fresh bidding exercise?”

 

The plaintiffs, therefore, prayed the court to declare that “the entire administrative actions and decisions of the 3rd and 4th defendants in the sale of the shares of the 1st defendant to the 2nd defendant and its consortium is invalid, void and of no effect”.

 

The plaintiffs also sought for: “A declaration that the 2nd defendant was incompetent to bid for shares in the 1st defendant and commence business accordingly

 

“An order setting aside the entire bidding/selection process(es) for the “Nigeria Air” project as well as the approval, grant or selection of the 2nd defendant by the 1st, 3rd and 4th defendants in the process.

 

“An order directing the immediate, fresh and transparent bidding process(es) involving the plaintiffs being the indigenous Airline Operators in Nigeria rightly entitled to participate in the process.

 

“An order directing the immediate revocation and cancellation of the air transport license (ATL) issued by the Nigerian Civil Aviation Authority (NCAA) to the 1st defendant.”

 

They also asked the court to award them N2 billion in damages and order a perpetual injunction restraining the federal government from transferring the shares and operations of Nigeria Air to Ethiopian Airlines.

BIG STORY

How I Survived Suicidal Thoughts, 14 Heartbreaks, 15 Abortions, Divorce And Alcoholism — Lara Kudayisi Don-Momoh [VIDEO]

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Renowned Author, Cognitive Behavioural Therapist and Family Life Coach Lara Kudayisi Don- Momoh popularly known as DearCoachLara shares insight into how she overcame life challenges such as Suicidal thoughts, several heartbreaks, alcoholism etc.

DearCoachLara who’s life story went viral because she healed from having a child at 19, underwent 14 heartbreaks, experienced 15 abortions and a divorce, has since dedicated her life to helping other heal after overcoming life challenges.

“If you know the story of my life, you will know that I have come a long way.

I was a walking pain.

Pain was my middle name.

I escaped into Alcohol. I became an Alcoholic for a bit as I couldn’t sleep except I downed vodka.

I even tried to end it all at some point because I was tired of doing all of these, but that day, I remembered my 15-year-old daughter at the time and my 3-year-old son even though I wanted to end the pain, I didn’t want to die.

So, I went on a journey of Healing. A journey of Rehabilitation. A Journey of Creating a New Beginning and today, we are here.

I see you.

I see your pain and anguish and I want to help you” she said.

Book a session with DearCoachLara today so she can help you heal, find joy, and create a new beginning.

Send her a DM on Instagram @dearcoachlara, visit www.larakudayisiinternational.com, or Call 08039927467 now.

 

  • About DearCoachLara

Lara Kudayisi Don- Momoh is a Certified Cognitive Behavioural Therapist and Family Life Coach popularly known as DearCoachLara, She specializes in Healing, Family Life and Mind Reprogramming.

Lara Kudayisi Don- Momoh is a practitioner of Neuro-Linguistic Programming (NLP), an Eriksonian Hypnosis expert, a Neurological Repatterning coach, Performance Consultant, Family Life Coach, Emotional Intelligence coach, Anger Management advisor, Fear Mastery Coach and a Cognitive Behavioral Therapist.

She helps people heal from Childhood Dysfunctions and Emotional Traumas through her program; THE HEALING SCHOOL and her private Therapy Sessions.

She is also the Chief Executive Officer of LARA KUDAYISI INTERNATIONAL; an organization that specializes in Therapy, Coaching, Couple’s Therapy, Finding Love After Trauma, Life After Divorce and Coaching Certification.

She is the Author of 4 books namely;

1. DEAR LARA WHAT DO I DO?

2. WHAT IS WRONG WITH MY TASTE IN MEN(for Single Ladies)

3. HOW THE MATCHMAKER’S MARRIAGE FAILED; a memoir and a proper documentation of her life story of Childhood Dysfunction, Call to Purpose, Marriage and Divorce and )

4. And her most recent work; The 31 Days Healing Plan.

She owns and present her own show called HOW THEY HEALED on Africa Magic Family which features the healing journey of numerous celebrities from their trauma and emotional pain.

She has also produced a TV series called DEAR COACH LARA that can be watched on her YouTube Channel.

Her story has been featured in so many media outlasts like The Nation Newspaper, This Day, The Guardian, BBC, TVC, Wazobia TV, Channels TV, Pop Central, Ebony Life TV, R2TV, Spice TV, Nigerian Info, City fm and so on and so forth.

She is active online as @Dearcoachlara on Instagram and YouTube, @LaraKudayisi on Twitter, LinkedIn and LaraKudayisiPage on Facebook.

She is happily married with two children and counting.

 

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BIG STORY

JUST IN: Police Arrest Yahaya Bello’s ADC, Security Details

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The Nigeria Police Force has detained a female police officer who was the aide-de-camp to embattled former Kogi State Governor, Yahaya Bello, Saturday PUNCH is reporting.

The ADC was arrested alongside other police officers attached to 48-year-old Bello and is being detained at the State Criminal Investigation Department, Federal Capital Territory, Abuja.

Their arrests and detention followed a Thursday night order by the Inspector General of Police, Olukayode Egbetokun, directing their immediate withdrawal from the former governor.

Senior police sources, who spoke to our correspondent on the condition of anonymity because they did not have authorization to comment publicly on the matter, noted that the officers were arrested on the suspicion that they aided and abetted Bello’s escape from operatives of the Economic and Financial Crimes Commission, who had gone to effect his arrest at his Abuja home on Wednesday.

“The ADC and the other police details attached to Yahaya Bello have been arrested and detained.

“They were arrested on the order of the IG, on the suspicion that they aided and abetted the former governor’s escape from the EFCC on Wednesday,” one of the sources told our correspondent in a telephone conversation on Friday.

Another source said, “Yahaya Bello’s female ADC and other police officers attached to him were brought to the command this morning, and they’ve been detained for aiding and abetting (the governor’s escape).”

Egbetokun had, on Thursday night, ordered the withdrawal of all police officers attached to Bello.

The order for the withdrawal was contained in a police wireless message sighted by our correspondent on Friday morning.

The document read, “CB:4001/DOPS/PMF/FHQ/ABJ/VOL.48/ 34 X ORDER AND DIRECTIVES X FOLLOWING MESSAGE RECEIVED FROM NIGPOL.

“DOPS ABUJA X BEGINS X CB:4001/DOPS/FHQ/ABJ/VOL.21/462 DTO:180955/04/2024 X ORDER AND DIRECTIVES X REF MYLET NO CB:3412/DOPS/FHQ/ABJ/VOL.1/36 DATED 15/04/2024 X AND MY EARLIER LET NO CB:3412/DOPS/FHQ/ABJ/VOL.1/30 DATED 24/01/2024 X Nigeria police have ordered the withdrawal of all men.

“Police attached to His Excellency and former Executive Governor of Kogi State, Alhaji Yahaya Bello, should acknowledge compliance and treat with utmost importance. Please above for your information and strict compliance.”

Also, the Federal Government had on Thursday night placed Bello on a watch list.

In a document exclusively obtained by our correspondent on Thursday night, the Comptroller General of the Nigeria Immigration Service, revealed that Bello was placed on a watchlist for conspiracy, breach of trust, and money laundering.

The Assistant Comptroller General signed the document and copied the Nigeria Customs Service, the Inspector General of Police, the Director General of the Department of State Services, and the Director of the National Internet Agency.

The document read, “I am directed to inform you that the above-named person has been placed on a watch list. Suffice to mention that the subject is being prosecuted before the Federal High Court Abuja for Conspiracy, Breach of Trust and Money Laundering vide letter Ref; CR; 3000/EFCC/LS/EGCS.1/TE/V 1/279 dated April 18, 2024.

“If seen at any entry or exit point, he should be arrested and referred to the Director of Investigation, or contact 08036226329/07039617304 for further action.

“Please, accept as always the Comptroller-General’s warmest regards and esteem.”

The Economic and Financial Crimes Commission had earlier declared Bello wanted for laundering the sum of N80,246,470,088.88.

The development was contained in a notice posted on the commission’s official Facebook page on Thursday, with a snapshot of the embattled ex-governor attached.

The notice read, “The public is hereby notified that Yahaya Adoza Bello (former Governor of Kogi State), whose photograph appears above is wanted by the Economic and Financial Crimes Commission in connection with an alleged case of Money Laundering to the tune of N80,246,470,089.88 (Eighty Billion, Two Hundred and Forty Six Million, Four Hundred and Seventy Thousand and Eighty Nine Naira, Eighty Eight Kobo).

“Bello, a 48-year-old Ebira man, is a native of Okenne Local Government of Kogi State. His last known address is: 9, Benghazi Street, Wuse Zone 4, Abuja. Anybody with useful information as to his whereabouts should please contact the Commission.”

Bello had, on Thursday, failed to appear before Justice Emeka Nwite of the Federal High Court sitting in Abuja following his arraignment by the EFCC.

The embattled former governor was arraigned in absentia before Justice Emeka Nwite alongside three other suspects, Ali Bello, Dauda Suleiman and Abdulsalam Hudu on 19-count charges bordering on money laundering.

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BIG STORY

Access Holdings’ Shareholders Unanimously Back Capital Raising Plan, Hail Aig-Imoukhuede’s Return As Chairman

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  • Re-elect Olusegun Ogbonnewo, Ojinika Olaghere as a Non-Executive Directors

 

The shareholders of Access Holdings Plc (“Access Holdings” or “the Group”) at the 2nd Annual General Meeting (AGM) held on Friday, April 19, 2024, unanimously backed the Group’s plan to establish a capital raising programme of up to US$1.5 billion as well as the subset initiative to raise up to N365 billion, specifically, through a Rights Issue of ordinary shares to its shareholders.

The proceeds of the Rights Issue would be used to support on-going working capital needs, including organic growth funding for its banking and other non-banking subsidiaries.

The shareholders also ratified the appointments of Aigboje Aig-Imoukhuede, Olusegun Ogbonnewo, and Ojinika Olaghere as Non-Executive Directors.

The appointment of Aig-Imoukhuede as the Chairman of Access Holdings was praised by the shareholders, who pointed to his rich history of success with the institution, having transformed it into Nigeria’s biggest lender by market value alongside Herbert Wigwe. Aigboje’s leadership was instrumental in driving the institution’s growth during the 2004 recapitalisation of the banking industry led by the Central Bank of Nigeria (CBN) under the leadership of its former Governor, Prof. Charles Soludo.

“We are thrilled with Aigboje Aig-Imoukhuede’s return to the role of Chairman. His proven track record, experience, and strategic insights position him as the ideal leader to steer Access Holdings towards meeting its lofty targets. During his tenure as CEO, particularly during the recapitalisation directive by the CBN, he steered Access Bank to raise an impressive $2 billion in capital, and this demonstrates his capacity to, once again, lead Access Holdings towards successfully achieving the objectives of our planned Capital Raise and Rights Issue targets,” said Chief Sunny Nwosu, Chairman Emeritus of the Independent Shareholders Association of Nigeria (ISAN).

In line with the Group’s strong financial performance, the payment of a final dividend of N1.80 kobo per every N0.50 Kobo ordinary share for the 2023 financial year was approved, marking a 28 per cent improvement from the corresponding period in 2022.

The Group’s full-year results for the period ending December 31, 2023, showcased an impressive 335 per cent increase in pre-tax profit to N729 billion from N167.68 billion in 2022. The Group also experienced an 87 per cent surge in gross earnings to N2.59 trillion from N1.39 trillion in 2022 and reported a remarkable 306 per cent growth in profit after tax to N619.32 billion, from N152.20 billion in 2022.

Commencing in the second half of 2024, Access Holdings’ global expansion strategy will enter the consolidation and efficiency phase, aligning with its five-year plan to accelerate the attainment of its 2027 strategic objectives. The Group remains focused on driving sustainable growth, and delivering value to its shareholders even as it continues to build a globally connected community and ecosystem, inspired by Africa, for the world.

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