Wednesday, May 6, 2026
Home Blog Page 860

JUDGMENT: Industrial Court strikes out case against Health Workers Union

0

His Lordship, Hon. Justice Ikechi Nweneka has struck out the case filed by Federal Area Council [Lagos State] Medical and Health Workers Union of Nigeria and Nine others against Comrade Adeyemi Yusuf, Medical and Health Workers Union of Nigeria and 5 others for Lack of Jurisdiction.

The Court held that parties have bound themselves to exhaust the internal dispute settlement mechanism before resorting to litigation that the constitution of a trade union constitutes a binding contract between the Union and its members.

The claimants via originating summons had sought for declaration amongst others whether, in the light of the constitution of the 3rd Respondent, the purported election held on the 15th day of October 2019 was proper, legal and in accordance with the provision of the said constitution and prayed the Court for An order setting aside all resolution/decisions made at the purported general conference/election held on the 15th October 2019.

Upon receipt of the originating summons, the Respondents counsel, Ahmed Adetola-Kazeem Esq. filed a notice of preliminary objection and a written address urged the court to dismiss the suit for lack of jurisdiction on the grounds that the suit contains disputed facts, that the failure of the Applicants to fulfil the condition precedent stipulated in the Union’s constitution robs the Court of jurisdiction to consider the questions and reliefs sought in the matter.

In opposition to the objection, learned counsel for the Applicants, Idris Abdulkareem Esq argued that the Applicants took adequate steps to settle the dispute amicably before filing the suit, and submitted that there is no substantial dispute of facts between the parties that the constitution of the Medical and Health Workers Union unequivocally states the business to be carried on at the State delegate conference, and the Union did not follow the laid down procedure in its conduct of the State delegate conference urged the Court to dismiss the preliminary objection.

In his Judgment, the presiding Judge, Hon. Justice Ikechi Nweneka held that it is not correct, as contended by learned counsel for the Applicants that the dispute in the case is between branches of the Union and the national body. While, ostensibly, the Applicants are branches of the Union, the 1st and 2nd Respondents – Comrade Adeyemi Yusuf and Comrade Ikechukwu Nwafor are members of the Union, the 3rd Respondent- Medical and Health Workers Union of Nigeria is the Union and 4th to 7th Respondents are branches of the Union under the 1st Applicant- Federal Area Council [Lagos State] Medical and Health Workers Union of Nigeria.

“The fact that the 2nd Respondent is a national officer and the 3rd Respondent is the Union does not convert the dispute as stated on the originating summons to one between branches of the Union and the national body.

“A careful reading of the affidavit in support of the originating summons reveals that there is no allegation of misfeasance against the 3rd Respondent. That is to say, there is no dispute between the Applicants and the 3rd Respondent but the 3rd Respondent is made a party to this suit as the parent Union so that it can be bound by the orders of this Court.

“Clearly, parties have bound themselves to exhaust the internal dispute settlement mechanism before resorting to litigation. It is trite that the constitution of a trade union constitutes a binding contract between the Union and its members.

“For this reason, I agree with learned counsel for the Respondents that compliance with Rule 28 of the constitution is a condition precedent to activation of the jurisdiction of this Court.

“There is no evidence that the Applicants complied with the 3rd Respondent’s internal dispute resolution mechanism.

 

Source: https://www.nicnadr.gov.ng

Nigerian Muslims and Media Apathy; A Perspective by Rasheed Abubakar

0

In the history of Nigerian media, no mainstream newspaper has ever given prominence to the coverage of Islam and Muslims as done by the now “rested” National Mirror. “Rested” is in quotes because the newspaper is not dead but only halted publishing, and according to sources close to the owner, Ondo state-born businessman, Jimoh Ibrahim, the newspaper is only going through reorganisation.

Although not among the top 7 newspapers in Nigeria, National Mirror dedicated 22 pages of her Friday edition-including its cover story-to Islam when it commenced production in 2009, before it gradually reduced such to four (4) pages every Friday and eight (8) pages on the last Friday of every month, due to change of ownership. At some point, the newspaper had a Friday editor, an Hijabi Muslimah, Hajia Sekinah Lawal, who is now the Chairperson of the Nigeria Association of Women Journalists (NAWOJ), Lagos chapter.

No newspaper – Muslim or non-Muslim-owned – not even the late MKO Abiola’s Concord or late Arisekola Alao’s Monitor – had recorded such a feat despite their strong pro-Islamic editorial policies before they went into extinction.

Evidently, the introduction of the Friday edition of the National Mirror had a great impact in the circulation of the newspaper. From Lagos in the Southwest, the newspaper penetrated into the North and later became a household name among various Muslim organisations. They would buy copies and mandate their members to do so on weekly basis. Until recently when it suspended production, there existed mutual benefits between the newspaper and the Muslim community.

Apart from the National Mirror, 6 out of the top 7 national newspapers – The Guardian, Vanguard, The Sun, The Nation, Thisday and Daily Trust dedicate 1 to 2 pages to Islam every Friday. The absence of a Friday column in The Punch is not unconnected to the newspaper’s anti-Islam policy and sentiment. Prof Is-haq Akintola once described the Punch-owned by the late Chief James Olu Aboderin-as “the megaphone for champions of Islamophobia” that “allowed religious bigotry to turn her into an instrument of tyranny.”

Other newspapers with a regular Islamic column are New Telegraph, Leadership, Tribune and Daily Independent; in which yours sincerely is a columnist.

It is therefore necessary for Muslims to patronise these newspapers, particularly on Fridays. As Muslims buy them, they will learn about the universality of Islamic messages through beautiful news stories, well researched articles and critical rejoinders from their favourite Muslim writers, columnists and commentators.

The truth is, Islam – the religion of over 2 billion people worldwide cannot be practiced in secrecy without the instrument of the media. Islam is a belief system that can neither be ignored nor adulterated with negative media reportage as we experience in today’s world. Islam has been perfected by Allah as established in the Noble Qur’an (5:3). All the Muslims need to do is realise the essence of using the media in propagating and promoting their religion and its ideals.

That is why Allah sent Prophet Muhammad (SAW) to the whole world as a preacher, warner and a giver of glad tidings. Q. 34: 28

For the Prophet (SAW) to be able to carry out Allah’s assignment, he used the best means available then in reaching out to the whole world. By the same logic, the best and most efficient means to reach out to the people in our ever-changing world are the mass media (TV, radio, newspaper and the new media). Once the message gets to the media, it can be disseminated to the rest of the world.

Thus, Muslims must learn how to relate with the media regarding their programmes. Sometimes, we express anger when the media fail to give us cover stories or downplay our religious events, but did we ever ask; what was the level of our engagement with the Press? How often do we make official press releases addressing national issues and suggesting Islamic solutions? Findings show that 2 out of 10 Muslim organisations in Nigeria have a robust relationship with the media. Even if I do not mention them, the media know them.

This notwithstanding does not mean the media will be totally objective in their reportage of Islam and Muslims due to their “Christian origin and prevailing missionary journalism that held sway in the early days of newspapering in the country” as rightly observed by Tella Liad (2017).

The bottom line is the need for the alternative Muslim media owned by individuals, organisations and the Muslim community. But before then, Muslim parents must encourage their children to go into journalism, just as the youths must pick interest in making an illustrious career in the Pen profession.

Rasheed Abubakar is a journalist and the publisher of Muslim News Nigeria. Email: rawshield123@gmail.com

Source: www.muslimnews.com

Covid-19 Vaccine: WHO to review Russian vaccine safety data

0

Russia’s Sputnik V vaccine has been developed by the Gamaleya research institute in coordination with the country’s defense ministry.

The World Health Organization said any WHO stamp of approval on a COVID-19 vaccine candidate would require a rigorous safety data review, after Russia announced Tuesday, August 11, it had approved a vaccine. President Vladimir Putin said Russia had become the first country to approve a vaccine offering “sustainable immunity” against the new coronavirus. “We are in close contact with the Russian health authorities and discussions are ongoing with respect to possible WHO pre-qualification of the vaccine,” the United Nations health agency’s spokesman Tarik Jasarevic told reporters in Geneva at an online press briefing. “Pre-qualification of any vaccine includes the rigorous review and assessment of all the required safety and efficacy data.” Russia’s Sputnik V vaccine has been developed by the Gamaleya research institute in coordination with the country’s defense ministry. A total of 165 candidate vaccines are being worked on around the world, according to the latest WHO overview produced on July 31. Of those, 139 are still in pre-clinical evaluation, while the other 26 are in the various phases of being tested on humans, of which 6 are the furthest ahead, having reached Phase 3 of clinical evaluation. The Gamaleya candidate being produced in Russia, which is among the 26 being tested on humans, is listed as being in Phase 1. Kirill Dmitriev, the head of the Russian Direct Investment Fund which finances the vaccine project, said Phase 3 trials would start on Wednesday, August 12, industrial production was expected from September and that 20 countries had pre-ordered more than a billion doses. <strong>’Stamp of quality'</strong> “Every country has national regulatory agencies that approve the use of vaccines or medicines on its territory,” Jasarevic explained. “WHO has in place a process of pre-qualification for vaccines but also for medicines. Manufacturers ask to have the WHO pre-qualification because it is a sort of stamp of quality. “To get this, there is a review and assessment of all required safety and efficacy data that are gathered through the clinical trials. WHO will do this for any candidate vaccine.” The pandemic has seen an unprecedented mobilization of funding and research to rush through a vaccine that can protect billions of people worldwide. “We are encouraged by the speed by which several candidate vaccines have been developing and as we have been always saying, we hope some of these vaccines will prove to be safe and efficient,” said Jasarevic. “Accelerating progress does not mean compromising on safety,” he said. &nbsp; Source: Rappler.com

Russia’s Sputnik V vaccine has been developed by the Gamaleya research institute in coordination with the country’s defense ministry

The World Health Organization said any WHO stamp of approval on a COVID-19 vaccine candidate would require a rigorous safety data review, after Russia announced Tuesday, August 11, it had approved a vaccine.

President Vladimir Putin said Russia had become the first country to approve a vaccine offering “sustainable immunity” against the new coronavirus.

“We are in close contact with the Russian health authorities and discussions are ongoing with respect to possible WHO pre-qualification of the vaccine,” the United Nations health agency’s spokesman Tarik Jasarevic told reporters in Geneva at an online press briefing.

“Pre-qualification of any vaccine includes the rigorous review and assessment of all the required safety and efficacy data.”

Russia’s Sputnik V vaccine has been developed by the Gamaleya research institute in coordination with the country’s defense ministry.

A total of 165 candidate vaccines are being worked on around the world, according to the latest WHO overview produced on July 31.

Of those, 139 are still in pre-clinical evaluation, while the other 26 are in the various phases of being tested on humans, of which 6 are the furthest ahead, having reached Phase 3 of clinical evaluation.

The Gamaleya candidate being produced in Russia, which is among the 26 being tested on humans, is listed as being in Phase 1.

Kirill Dmitriev, the head of the Russian Direct Investment Fund which finances the vaccine project, said Phase 3 trials would start on Wednesday, August 12, industrial production was expected from September and that 20 countries had pre-ordered more than a billion doses.

‘Stamp of quality’

“Every country has national regulatory agencies that approve the use of vaccines or medicines on its territory,” Jasarevic explained.

“WHO has in place a process of pre-qualification for vaccines but also for medicines. Manufacturers ask to have the WHO pre-qualification because it is a sort of stamp of quality.

“To get this, there is a review and assessment of all required safety and efficacy data that are gathered through the clinical trials. WHO will do this for any candidate vaccine.”

The pandemic has seen an unprecedented mobilization of funding and research to rush through a vaccine that can protect billions of people worldwide.

“We are encouraged by the speed by which several candidate vaccines have been developing and as we have been always saying, we hope some of these vaccines will prove to be safe and efficient,” said Jasarevic.

“Accelerating progress does not mean compromising on safety,” he said.

Source: www.rappler.com

BREAKING: Malami Writes Buhari, Denies Corruption Allegations

0

The Minister of Justice and Attorney-General of the Federation, Abubakar Malami, has written to President Muhammadu Buhari, denying the allegations of corruption levelled against him.

This follows a call from a coalition of Civil Society Organisations asking President Buhari to probe the AGF over 14 high-profile corruption cases and calling for his resignation.

The allegations levelled against Malami, by the CSOs include “financial fraud” and “influence peddling”, as well as “illegally” auctioning sea vessels holding crude oil seized by the Federal Government.

But the minister wrote to the presidency, insisting that he had declared all his assets and statements of accounts upon his assumption of office.

He writes, “Since my appointment as a Minister in your cabinet, I have conducted myself strictly within the confines of the Code of Conduct for public officers contained in part 1 of the fifth schedule of the 1999 Constitution of Nigeria, as amended.”

“It is to be noted that apart from my successful legal practice of more than 20 years, seven of which were as a Senior Advocate of Nigeria (SAN), before my appointment, I have as allowed by law had interests in business ventures, all of which I had resigned from active participation upon my appointment,” he added.

Also in the letter, the Minister said he has also decided to seek redress in court.

The Minister has been accused of being behind the ordeals of the former Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, after criticising some of his actions.

Magu, who was quizzed by the Department of State Services (DSS) on July 6, was made to appear before a panel of the Federal Government set up to investigate the allegations of corruption levelled against him.

The panel led by the retired President of the Court of Appeal, Justice Ayo Salami grilled Magu for about 10 days before granting him bail on July 15.

Following Magu’s reported arrest, many Nigerians and groups reacted to the development, with some commending the Federal Government’s approach to the war against corruption.

Although Magu denied any wrongdoing, a member of the Presidential Advisory Committee Against Corruption (PACAC), Professor Femi Odekunle said the DSS invitation is a power play by blocs in the corridor of power.

According to the PACAC member, Magu was only invited for questioning regarding some purported memo by the Minister of Justice.

He explained that the Presidential Advisory Committee perceives Malami as the arrowhead of the bloc that is not really interested in President Buhari’s anti-corruption fight.

Source: Channels

Russia has developed COVID-19 vaccine – Putin

0

Russia has developed the first vaccine offering “sustainable immunity” against the coronavirus, President Vladimir Putin announced Tuesday.

“This morning, for the first time in the world, a vaccine against the new coronavirus was registered” in Russia, he said during a televised video conference call with government ministers.

“One of my daughters had this vaccine. I think in this sense she took part in the experiment,” Putin said.

Russia has been pushing hard to quickly develop a coronavirus vaccine and said earlier this month it hoped to launch mass production within weeks and turn out “several million” doses per month by next year.

The World Health Organization last week urged Russia to follow established guidelines and go “through all the stages” necessary to develop a safe vaccine.

The pandemic has seen an unprecedented mobilisation of funding and research to rush through a vaccine that can protect billions of people worldwide.

Source: The Punch

FG directs civil servants on levels 12, 13 to resume

0

The Federal Government has directed civil servants on Grade Levels 12 and 13 as well as those on essential duties to resume full duties.

The Head of the Civil Service of the Federation, Dr. Folashade Yemi-Esan, gave the directive in a circular dated August 10, 2020.

The circular was titled “Resumption of officers on Grade Levels 12 and !3 and those on essential duties”.

Before now, as part efforts to curtail further spread of COVID-19, only workers on Grade Level 14 and above are resuming at their duty posts, and they only work three days in a week.

But Yemi-Esan, in the circular, added that all workers resuming for work will henceforth work from Monday to Friday and from 8 am to 4 pm.

She wrote, “Following Mr President’s approval of the recommendation of the Presidential Task Force on COVID-19, officers on Grade Levels 12 and 13, and those on essential services are hereby directed to be in the office every working day (Monday to Friday) with effect from Monday, August 10, 2020.

“Also, the officers and those affected by earlier circulars on resumption of duty are now to resume by 8 am and close by 4 pm daily.

“Permanent Secretaries/Chief Executive Officers are to define the officers performing essential services in their MDAs.

“However, in doing so, consideration must be given to the health implication of the number to recall for duties in the light of the extant guidelines on the measures to prevent the spread of COVID-19 pandemic.”

As they resume work daily, Yemi-Esan asked the officers to ensure full compliance with the directives and advice on the COVID-19 pandemic preventive measures, including maintenance of physical distancing, regular washing and/or sanitising of hands and wearing of face masks.

She added that efforts should be made to avoid overcrowding in individual offices.

“Where the number of staff resuming work is large, Permanent Secretaries/Chief Executive Officers should consider the option of duty rosters,” she added.

Birth certificates issued by local governments not acceptable – NPC

0

The National Population Commission (NPC) has said that all birth certificates issued by local governments and hospitals are not acceptable for official purposes in the country.

According to the Commission, only birth certificates issued by NPC is acceptable as the commission is the only agency legally authorised to issue such documents in the country.

The Ebonyi State Director of NPC, Edward Ogbu stated this during a review meeting and retraining of Ebonyi State health facility workers on birth registration service delivery.

The meeting, which was held with support and collaboration of the United Nations Children Fund, (UNICEF) took place at Citi Hub Events Centre in Abakaliki, capital of the state with health workers from all the local governments and health facilities in the state in attendance.

Mr. Ogbu solicited the help of government and health workers in the mobilisation of parents to register their children.

In a keynote address, the UNICEF Chief of Field office Enugu, Ibrahim Conteh lamented that recent records show that child registration in the country is still very low.

Quoting the National Demographic Health Survey 2018, Mr. Conteh said that 57 percent of children in Nigeria do not have their births registered.

Represented by a Child Protection Specialist with UNICEF, Enugu, Mr. Victor Atuchukwu, the UNICEF Chief said that of the 43 percent registered births only 62 percent are registered with NPC.

“26 percent are registered with private clinic/hospitals, nine percent are registered with Local Government Administration while three percent are registered with other authorities,” he said.

Mr. Conteh noted that non-registration of new born child has a lot of disadvantages to the child, the community and the country in general.

According to him non-registration of children’s births puts their access to basic service under threat.

“Their official ‘invisibility’ increases their vulnerability to abuse and exploitation

and violations of their rights go unnoticed. In legal terms they do not exist,” he added.

Deregistration ruling: INEC heads for Supreme Court

0

The Independent National Electoral Commission has acknowledged receipt of the judgement of the Court of Appeal which nullified the de-registration of political parties but affirmed that it would head to the Supreme Court.

The commission, however, said it was faced with two conflicting judgements from the Court of Appeal: one affirming its powers to deregister political parties and the other setting aside the de-registration of ACD and 22 others.

The decision by INEC to proceed to the apex court “for a final resolution of the issues raised in the two conflicting judgements,” was contained in a statement by its National Commissioner and chairman of its Information and Voter Education Committee, Festus Okoye on Monday.

He said, “We recall that on July 29, 2020, the Court Appeal, Abuja Judicial Division in an appeal filed by the National Unity Party affirmed the power of the commission (INEC) to deregister political parties that fail to meet the constitutional threshold in section 225A.

“Dissatisfied with the judgment the NUP lodged an appeal which is presently pending before the Supreme Court. The commission is therefore faced with two conflicting judgements from the Court of Appeal: One affirming the powers of the commission to deregister political parties and the other setting aside the deregistration of ACD and 22 others.

“Faced with two conflicting judgements from the same court, the commission is not in a position to pick and choose which one of them to obey.

“Consequently, the commission will approach the Supreme Court for a final resolution of the issues raised in the two conflicting judgements.

The Court of Appeal in Abuja on Monday had reversed the deregistration of 22 political parties, by the Independent National Electoral Commission.

The judgment delivered by a five-man panel headed by the President of the Court of Appeal, Justice Monica Dongban-Mensem, set aside the earlier June 11, 2020 verdict of the Federal High Court in Abuja which had affirmed the deregistration of 32 political parties including the 22 appellants.

The political parties were among the total of 74 whose deregistration INEC announced in a press statement in February this year.

But the five-man panel of the Court of Appeal unanimously overturned the Federal High Court’s judgment on the grounds that the cancellation of the parties’ registration failed to follow due process.

The 22 political parties whose registration was restored by the Court of Appeal on Monday are Avanced Congress of Democrats, Advanced Nigeria Democratic Party, All Blending Party, All Grand Alliance Party, Alliance of Social Democrats, Better Nigeria Progressive Party, Change Advocacy Party, Democratic People’s Congress, Green Party of Nigeria, and Masses Movement of Nigeria.

They also include Mega Party of Nigeria, New Generation Party of Nigeria, Nigeria for Democracy,

Peoples Coalition Party, Progressives Peoples Alliance, People for Democratic Change, Young Democratic Party, Re-build Nigeria Party, Save Nigeria Congress, Socialist Party of Nigeria, United Democratic Party, United Patriots, and We The People Nigeria.

But the Monday’s verdict contradicts an earlier July 29, 2020 judgment of the same Abuja Division of the Court of Appeal.

The said July 29 judgment had affirmed the deregisteration of the National Unity Party.

Delivering the lead judgment of a panel of the court, Justice Mohammed Idris had held that INEC did not err in law in the deregisteration NUP.

Congrees: Abia High Court dismisses PDP factional exco’s suit

0

The Abia State High Court presided by Justice CCT Adiele, has struck out a suit filed by the Anthony Nwankwo-led aggrieved stakeholders and members of the Peoples Democratic Party, challenging the congress held in Arochukwu Local Government Area of the state.

Recall that the Peoples Democratic Party, PDP, had in Arochukwu, held its congress to elect new party officers for local Government Executive Committees.

The LGA congresses produced two executives led Mr. Anthony Nwankwo and Mr Okemiri Nnwanko, which both are laying claims of emerging winner of the PDP chairmanship seat during the exercise.

However, the National Working Committee, NWC of the Peoples Democratic Party, PDP, had in the list released and signed by the National Organizing Secretary of the party, Col Austin Akobundu, ratified Okemiri Nwankwo as recognized new Chairman for Arochukwu chapter of the party.

But, while ruling on Monday in Umuahia, the Abia State capital, Justice Adiele, hinted that the plaintiff, Anthony Nwankwo and others, who prayed the court to cancel or declare his PDP led Executive as duly elected, during the congress conducted in the local government area, failed to prove that they were excluded from being returned and sworn in and hold office as persons that won in the ward and LGA Congresses that took place in February this year at the expiration of their respective tenures.

It was reported that respondents joined in the suit to upturn the outcome of the Arochukwu LG congress, included the Abia State Working Committee of the PDP, Governor Okezie Ikpeazu, Hon. Okemiri Nwankwo and others.

Meanwhile, reacting to the Court verdict, a chieftain of the Peoples Democratic Party, PDP, and member currently representing Ohafia/Arochukwu in Federal House of Representatives, Hon Uko Nkole, said that the new leadership of the PDP in Arochukwu LGA has come to stay and pointed out that the party was elected on the principles of equity.

Court Orders Stanbic IBTC To Return Petrol Station In Lagos To Ascon Oil

0

Ascon Oil Ltd has recovered a petrol retail station at Block 36, Admiralty Way, Lekki Phase 1, Lagos purportedly sold by Stanbic IBTC Bank.

The development followed a recent ruling by Justice Mohammed Liman of the Federal High Court, Lagos.

The suit marked FHC/L/CS/567/2020, arose following a N1.7bn loan facility.

It was gathered that the property with a market value of N2.5bn was undersold at N1.53bn through Stanbic IBTC’s receiver to one of its customers, Rainoil Ltd.

Rainoil is one of Ascon’s competitors in the downstream sector and in 2019 while Stanbic IBTC was its banker, made a bid to acquire controlling shares in Ascon Oil.

The property had been in the receiver’s possession following a May 15, 2020 ex-parte ruling by the same court authorising the takeover of the property and restrain Ascon from interfering with the receiver’s discharge of his functions.

But on July 24, 2020, Justice Liman vacated that order after Ascon alleged non-disclosure and material misrepresentation of facts against Stanbic IBTC.

Before the July 24 ruling and in seeking to recover its property, Ascon had written to Stanbic IBTC through its Managing Director, Demola Shogunle, stating that its outstanding indebtedness was now available and that it was ready to make the payment subject to an audit of its account.

But the bank, it was learnt, declined, stating that the property had been sold.

It also declined Ascon’s requests for details of the expedited process of the transaction or evidence of any cash movement by which the property was purportedly conveyed to Rainoil.

On May 27, 2020, Ascon approached the court to set aside its earlier orders and nullify all steps taken pursuant to the orders.

It argued that since the company was not initially allowed to make its own case, this meant it was denied the right to fair hearing.

Justice Liman agreed that the receiver was wrong in law to have brought his application for the orders, ex-parte and that Ascon should have been put on notice.

Consequently, the order preventing Ascon from resisting the activities of the receiver was vacated.

Ascon had alleged in its motion on notice that the purported Deed of Legal Mortgage dated June 5, 2019 through which Stanbic IBTC derived its right or power to either appoint a receiver or sell the property was forged.

“At the time the Deed of Legal Mortgage was purportedly executed, Ascon had by letters of 28th and 31st May 2018 protested the inclusion of the property for perfection. Thus, Ascon could not have executed a Deed of Legal Mortgage over the same property,” the document stated.

Ascon also alleged that forensic analysis of the purported Deed of Legal Mortgage revealed significant inconsistencies as two supposed signatures were materially different from their regular signatures and the signature page of the purported Deed of Legal Mortgage was a counterpart copy of previously executed versions.

It was learnt further that prior to the extant issues, Ascon in May 2019 paid N500m out of its outstanding indebtedness.

It also requested for a restructuring of the loan facility to enable it to meet the escalating repayment obligations on it following fresh terms/conditions by the bank.

The firm made an offer to the bank requesting to pay a lump sum of N500m on or before December 31, 2019, with outstanding balance spread over 24 months and suspension of further interest charges, which the bank declined.

The company revealed that it had paid about N800m out of the term loan till date.

In 2017, the oil firm requested additional trading facilities to assist it in trading and thereby make monies that will be used to offset the existing term loan.

The securities listed to secure the term loan are property at Plot 27, Balarabe Musa Crescent, Victoria Island; Lagos, lube plant located along Lagos-Ibadan Expressway, Magboro; petrol station at Osolo Way, Isolo; and petrol station at Gbagada-Oshodi Expressway, Lagos.

However, the latest ruling by the Federal High Court, Lagos, has changed the complexion of the tussle as it has ordered the return of the petrol station in Lekki to Ascon.

 

Source: Sahara Reporters