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Folawiyo Seeks Injunction Against AMCON’s Ex Parte Order, Dissociates From Defaulting Company

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A Lagos-based businessman, Mr. Tunde Folawiyo, has filed an exparte motion before a Federal High Court in Lagos seeking an order of stay of execution of an ex-parte order made against him in satisfaction of a judgment debt.

Justice Lewis Allagoa had made orders against Mr. Folawiyo in a suit filed by the Asset Management Corporation of Nigeria (AMCON) over Folawiyo’s alleged unpaid debt of N727.9 million in relation to a company directorship at Compagnie Generale de Logistique.

Folawiyo, in a suit no: FHC/L/CS/799/2020, is seeking an order of stay of execution of the ex-parte orders made against him on March 24, 2022, pending the hearing and determination of his Motion on Notice seeking to set aside the ex parte orders.

He is praying for the following relief: An order restraining the AMCON either by itself, agents, privies, servants, or through any person(s) from taking any steps howsoever to enforce the ex-parte orders made against the applicant by the Court on 24th March 2022 pending the hearing and determination of the applicant’s Motion on Notice seeking to set aside the ex parte orders.

The ex-parte orders were predicated on the judgment of Justice Ibrahim Buba in Suit No: FHC/L/CS/207/2017; Asset Management Company of Nigeria (“AMCON”) v Compagnie Generale De Logistique & Others in 2017 (“Previous Suit”) in favor of AMCON in the sum of N522,464,978.66 against the defendants in the suit.

The applicant said he was not a party to the previous suit and was not served with the judgment on it.

AMCON claimed the applicant is a director in Compagnie Generale De Logistique, which took a loan from Spring Bank and which judgment was principally obtained in the previous suit.

Contrary to the representations made by the Plaintiff, the applicant said he was not a Director of Compagnie Generale De Logistique at the time of the previous suit and was not in any way connected to the loan transaction with Spring Bank.

The applicant said he is, therefore, not a “debtor” within the contemplation of Section 61 of the AMCON Act as to warrant the interim forfeiture of his assets and freezing of his bank accounts on account of the judgment obtained in the 2017 Suit.

He argued that a combined reading of Sections 49(2),50(2), and 61 of the AMCON Act would reveal that only current directors of a company fall within the definition of “debtor” as to warrant the freezing of their assets or accounts.

Mr. Folawiyo told the court that AMCON failed to disclose or suppressed material facts about the status of the Applicant in Compagnie Generale De Logistique, the principal judgment debtor in the previous suit.

He added: “The exparte orders were obtained malafide against the applicant and constitute an abuse of court process.

“The applicant has a filed a Motion on Notice praying for the setting aside of the said ex- parte orders.

“The applicant’s pending set aside motion raises serious issues on why the Ex-parte orders ought not to have been granted.

“It is in the interest of justice to grant this application pending the hearing and determination of the applicant’s Motion to Set Aside the Ex-parte Orders.”

Mr. Folawiyo argued that the originating summons filed by AMCON is incompetent as it had expired at the time of the grant of the ex-parte order.

He expressed concern about the impact the orders would have on his employees as well as the reputation of the three-generational family business he has worked hard to maintain and grow over the years.

Tunde Folawiyo is the son and heir to the late Nigerian Businessman and philanthropist, Wahab Iyanda Folawiyo. Alhaji Wahab whose father, Tijani was a wealthy local Merchant in the Colonial era, was known for funding, building orphanage homes, and funding several local sports championships. In expanding his late father’s legacy, Mr. Tunde Folawiyo attended the London School of Economics to broaden his business perspective and investment choices in addition to being a Barrister of the Court of England and Wales as well as Nigeria. In 2016, Folawiyo and his firm announced its first production of crude oil from the Aje Field, the first producing field outside of the Niger Delta area in Nigeria.

Reports say the multi-million dollar investment was aimed at reducing oil production pressure from the Niger Delta region. He is currently the Chairman of Yinka Folawiyo Group, established by his father in 1957.

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2026 World Cup: FIFA Finally Queries South Africa For Breach Of Regulations

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The Federation of International Football Association (FIFA) has formally launched disciplinary action against the South African Football Association (SAFA) and midfielder Teboho Mokoena for alleged violation of competition regulations during the 2026 World Cup qualifiers.

The case arises from South Africa’s 2-0 victory over Lesotho on March 21, 2025, in Polokwane, where Mokoena was fielded despite being suspended.

The 28-year-old had previously collected two yellow cards in the qualifiers — first against Benin in November 2023 and again against Zimbabwe in June 2024. Under FIFA rules, that accumulation should have triggered a one-match suspension.

In a letter to SAFA dated September 15, 2025, and obtained by South African broadcaster SABC, FIFA confirmed that both Mokoena and the association are facing charges for “fielding an ineligible player.”

The matter has now been referred to FIFA’s Disciplinary Committee, which has given both SAFA and the player six days to respond.

If found guilty, South Africa could be forced to forfeit the result, with Lesotho awarded a 3-0 victory on paper. Additional penalties, including fines or suspensions, may also be imposed.

Such a ruling would alter Group C standings: South Africa would drop to 14 points after eight matches, level with Benin but still top on goal difference (+6 compared to Benin’s +4). Lesotho would climb to nine points, two behind Nigeria and Rwanda, who are tied on 11 points each.

The development has increased pressure on coach Hugo Broos and his squad, who must defeat Zimbabwe and Rwanda in October to secure qualification — unless Benin falters against Rwanda and Nigeria.

SAFA has yet to issue an official statement on the disciplinary case.

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JUST IN: Rivers Assembly Resumes Sitting After Six-Month Suspension

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The Rivers State House of Assembly has reconvened after the expiration of a six-month emergency rule declared in the state by President Bola Tinubu.

Tinubu lifted the emergency rule on September 17, directing Governor Siminalayi Fubara, his deputy Ngozi Odu, and members of the assembly to resume their official duties on September 18.

Thursday’s plenary session was presided over by Speaker Martins Amaewhule and held at the conference hall within the assembly quarters in Port Harcourt, the state capital.

Since the assembly chamber at the Moscow Road complex was razed and later demolished by the state government, lawmakers have been using the conference hall as their temporary chamber.

The reconstruction of the assembly complex, which was overseen by the outgone sole administrator, Ibok-Ete Ibas, could not be completed before his exit.

On March 18, Tinubu had declared emergency rule in Rivers State following a protracted political crisis triggered by the rift between Governor Fubara and the Minister of the Federal Capital Territory, Nyesom Wike.

More to come…

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BREAKING: Six More Deaths Confirmed In Afriland Towers Fire

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At least six more people have been confirmed dead following the fire outbreak at Afriland Towers, a six-storey commercial complex located on Broad Street, Lagos Island.

The latest victims were employees of United Capital, an investment and financial services company that occupied the third and fourth floors of the building.

The confirmation comes only hours after the Federal Inland Revenue Service (FIRS) announced the deaths of four of its staff members in the same incident on Wednesday evening.

The fire, which reportedly broke out in the inverter room at the basement around 1:30 p.m. on Tuesday, generated thick smoke and caused widespread panic among occupants. Witnesses said some individuals attempted to escape through windows as emergency teams fought to contain the blaze.

Operatives of the Federal Fire Service, Lagos State Fire and Rescue Service, and other first responders evacuated at least nine people from the tower. Five of them were resuscitated, while four remained unconscious at the time.

“A total of nine victims have been rescued. Five individuals have been resuscitated. Several others escaped unhurt, while efforts are ongoing to revive the remaining four,” the Lagos State Fire and Rescue Service said in an earlier update, raising fears of possible casualties.

In an official statement released on Thursday morning, United Capital confirmed that six of its staff had died in the incident. The new figure brings the total number of confirmed deaths from the Afriland Towers fire to 10.

“It is with profound grief that the Management and Staff of United Capital Plc announce the passing of six of our dear colleagues, following the tragic fire at Afriland Towers on Tuesday, September 16, 2025.

“Our departed colleagues were an integral part of our company and family. Their painful loss leaves an immeasurable void. We extend our deepest and heartfelt condolences to their families, friends, and loved ones, and we continue to hold them in our thoughts and prayers, as well as provide all the support we can to them during this most difficult time.

“We are making preparations for an appropriate memorial service to honour their lives and mark their passing with dignity and solemnity. We thank the emergency services and all those who responded for their valiant assistance at the time of the incident.

“In this moment of untold grief, we stand together in solidarity, drawing strength from one another as we navigate this period. May the souls of the departed rest in peace,” the company stated.

Authorities earlier confirmed that several occupants were rescued from the inferno, which was suspected to have been triggered by an inverter explosion. However, no official casualty figure has yet been issued.

Efforts to obtain confirmation from the Lagos State Fire and Rescue Service, the National Emergency Management Agency (NEMA), and the Lagos State Emergency Management Agency (LASEMA) were unsuccessful as of press time.

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