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UK Authorities Dissolve Peter Obi’s Company, Next International Over Refusal To Submit 2020 Annual Accounts

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For failing to submit its annual accounts, authorities in the United Kingdom, UK, have struck off Next International (UK) Limited, a company largely owned by Nigerian top politician and presidential candidate of the Labour Party, Peter Obi.

According to Premium Times, the company was removed from the record in September 2021 following a first and second gazette notice of a “compulsory” strike off of the entity.

In the UK, a compulsory strike-off is imposed on a company by creditors or by the Companies House for non-submission of annual accounts or failure to notify Companies House about a change of official registered office address. Once a company is struck off, its details will be removed from Companies House register and the company ceases to exist.

Next International (UK) Limited failed to submit its annual accounts for the year 2020, hence, the company was struck off and dissolved in 2021.

Before a company is struck off, however, the UK requires the Companies House’s Registrar to send at least two formal letters to the company warning that a failure to file its annual accounts will lead to its removal from the register.

According to UK Liquidators, a financial consulting firm, if Companies House receives no reply to its letters, it will then publish a first ‘strike off notice’ in the Gazette, which is the official journal of public record.

The first official notice to strike off Next International was issued on 22nd June 2021, then a second notice was given on 31st August 2021. A final gazette to dissolve the company was issued on 7th September 2021.

Before its final dissolution, records show that for four consecutive years (2017, 2018, 2019 and 2020) the UK Companies House had to always issue a “first gazette notice for compulsory strike-off” before Next International filed its annual account. Then immediately the company submitted its annual accounts, a gazette will be issued to discontinue the compulsory strike-off action.

A private limited company, Next International was incorporated on 16t May 1996. Mr Obi was listed as a director while his wife, Margaret, served as secretary. Next International (Nigeria) Limited (with 999 ordinary shares) and Mr Obi (with one ordinary share) were listed as shareholders.

Records show that the company was registered as business “agents involved in the sale of a variety of goods” in England and Wales.

The firm reported taking a mortgage from Lloyds TSB Bank Plc for a property on 53 Clyde Road, Croydon.

On 16 May 2008, 14 months after assuming duties as governor of Anambra State, Mr. Obi resigned as the director of Next International.

He took office on March 17, 2006, but continued to serve as a director of the company in violation of Nigerian law.

In Nigeria, a person is statutorily required to withdraw from engaging in or directing a private business, except if it is farming, upon becoming a public officer, Section Six (6) of the Code of Conduct Bureau and Tribunal Act provides.

The former governor admitted to PREMIUM TIMES in 2021 that he did not declare these companies and the funds and properties they held in his asset declaration filings with the Code of Conduct Bureau, the Nigerian government agency that deals with the issues of corruption, conflict of interest, and abuse of office by public servants.

At the time, Mr Obi said he was unaware that the law expected him to declare assets or companies he jointly owns with his family members or anyone else.

BIG STORY

Police Arrest 26-Year-Old Housewife For Faking Own Kidnap, Collects N2.5m Ransom From Husband In Lagos

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The Lagos State Police Command has arrested a 26-year-old housewife and her 30-year-old accomplice for allegedly staging her own kidnapping and extorting N2.5 million from her husband.

The command’s spokesperson, Abimbola Adebisi, confirmed the arrest in a statement issued on Saturday in Lagos.

Adebisi said the command received a distress call on November 24 from the husband of the suspect through one of its emergency lines, reporting that his wife had been kidnapped by armed men.

She said the caller disclosed that the alleged kidnappers initially demanded a ransom of N10 million, which was later reduced to N3 million, adding that after he paid N2.5 million, the woman was still not released.

“Upon receipt of the complaint, the Command Special Squad immediately deployed human and technical assets to track the alleged kidnappers.

“The supposed victim was eventually released and reunited with her family,” Adebisi said.

Adebisi said that during police debriefing, the woman claimed she was abducted by six armed men in a silver Toyota Venza, taken to their hideout and dispossessed of her iPhone 12 Pro Max.

“She further claimed that the ransom paid by her husband was first credited into her bank account before being handed over to the kidnappers,” she said.

Adebisi, however, said police investigations revealed several inconsistencies in her narrative.

She said that on December 3, operatives apprehended the accomplice in the Ede area of Osun State, adding that a SIM card used to register the WhatsApp account through which ransom negotiations were conducted was recovered from him.

“During interrogation, the accomplice confessed that the suspect requested the use of his SIM card to create the WhatsApp account used for the ransom negotiations.

“He admitted providing the one-time password (OTP) sent to his line, which enabled her to operate the account,” Adebisi said.

According to her, following the confession, the suspect was confronted and admitted to faking her own kidnapping to extort money from her husband, who resides in South Africa.

She added that further investigation led to the recovery of the iPhone 12 Pro Max, which the suspect had earlier claimed was with the kidnappers.

“The phone was recovered from a 34-year-old man, who told investigators that he bought it from the suspect for N380,000 after being warned not to insert any SIM card into it,” she said.

Adebisi said investigations were ongoing and that the suspect and her accomplice would be charged to court upon the conclusion of the investigation.

She added that the Commissioner of Police in Lagos State, Olohundare Jimoh, reiterated the command’s commitment to protecting lives and property, while warning the public against false reporting, criminal deception, and acts capable of diverting critical security resources.

The spokesperson urged residents to remain law-abiding and to promptly report suspicious activities through the command’s emergency numbers: 07061019374, 08065154338, 08063299264, and 08039344870.

(NAN)

 

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President Tinubu’s Bold Economic Policies Are Yielding Tangible Results — Obasa

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Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa has declared “progress that cannot be stopped, peace that cannot be shaken, and prosperity that cannot be denied for our Assembly, our state, and our beloved nation.”

In the same breath, he praised President Bola Ahmed Tinubu, GCFR, for implementing bold economic reforms, which he says are already transforming Nigeria’s economy and restoring confidence in the nation’s future.

Speaking at the 23rd Thanksgiving and End-of-Year Service organized by the Assembly’s Christian Forum, on Friday, December 19, with the theme, ‘I Declare (Isaiah 46:10)’, Obasa said, “Our theme is more than a phrase – it is a trumpet call of faith and vision. Isaiah 46:10 reminds us that God declares the end from the beginning…We declare protection, guidance, and greater wisdom for President Bola Ahmed Tinubu, GCFR, under whose leadership bold economic policies are already yielding results.”

Obasa noted that under President Tinubu’s leadership, Nigeria has begun to rise “like the morning sun after a long night,” with clear signs of economic recovery and growth. Inflation, he said, has eased significantly, GDP growth has accelerated to its fastest pace in four years, and non-oil revenue has reached historic levels, strengthening the country’s fiscal foundation.

“Trade surpluses have been sustained for five consecutive quarters, signalling that the economy is not just recovering but thriving. These are not just numbers – they are proof that bold reforms work,” Obasa said.

However, he cautioned, “Let us not forget that the work is not finished. Families still feel the weight of yesterday’s struggles. That is why we must press forward, hand in hand, heart to heart. The APC is committed to ensuring that every home tastes the sweetness of progress, that every child sees the light of opportunity, and that every citizen walks in the dignity of prosperity.

“As elections draw near, this is our moment to stand united, not out of routine, but out of purpose. Let us rally behind the APC with passion and conviction, for together we can keep the wheels of progress turning.”

In his homily, the guest minister, Apostle Dele Johnson, Senior Pastor of the Jesus Liberation Ministry, harped on the need to always declare positively into one’s life, adding that understanding the power in the words declared in Genesis 1 vs. 3, 11, 14, and 20 is key to a better life.

Apostle Johnson averred, “You are a product of the word you speak into your life. God has given us the power of words. Whatever you say, the universe will say Amen to it. As we go into the New Year, be conscious of the words you speak to your children and to yourself. The power of life and death is in the tongue.”

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Court Okays Ex-AGF Abubakar Malami’s Further Detention By EFCC

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A Federal Capital Territory High Court in Abuja has upheld the continued detention of a former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), by the Economic and Financial Crimes Commission.

Justice Babangida Hassan, on Thursday, dismissed a bail summons filed by Malami challenging his detention by the anti-graft agency.

A statement issued by the EFCC spokesperson, Dele Oyewale, said the ruling was delivered on Thursday, December 18, 2025.

According to the statement, Malami, through his counsel, Suliaman Hassan (SAN), had approached the court seeking bail from EFCC custody, contending that his detention in the course of an ongoing investigation was illegal.

However, counsel to the EFCC, J. S. Okutepa (SAN), argued that the former minister was being held pursuant to a valid remand order issued by the FCT High Court and granted by Justice S. C. Oriji.

Oyewale said Justice Hassan, while quoting Section 35 of the 1999 Constitution (as amended), held that the Administration of Criminal Justice Act provides for lawful detention under a court-issued remand order, adding that Malami’s detention was therefore legal.

“Asking this court to grant this application is tantamount to inviting the court to sit as an appellate court over an application made by a court of coordinate jurisdiction, which this court has no power to do,” the judge was quoted as saying.

Malami has been in detention since December 8 after failing to meet the bail conditions set by the EFCC.

It was earlier reported that the former minister is being investigated for 18 alleged offences, including abuse of office and terrorism financing.

The EFCC confirmed searching his houses and offices in Abuja and Kebbi State. However, Malami has accused the anti-graft agency of bias in the handling of his case.

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