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S’Court Reserves Ruling In Union Bank’s Suit Against $15bn Judgment Debt …Queries Prosecutor’s Authority To Try Convicted Ex-Pension Director
The Supreme Court, yesterday, in Abuja, reserved ruling on a motion by Union Bank Plc seeking among others, leave to appeal against a June 5, 2018 judgment of the Court of Appeal in which the bank and three others were ordered to pay an oil and gas firm – Petro Union Limited – about $15billion.
A five-member panel of the apex court, led by Justice Musa Dattijo Muhammad, after listening to arguments by lawyers to parties, said they would be informed when the ruling was ready.
Union Bank’s lawyer, Adegboyega Awomolo (SAN) while arguing the motion, said it contains nine reliefs, among which was an order for leave for extension of time to file appeal and another order for leave to appeal under Order 6 Rule 2(1) of the Supreme Court’s Rules.
Awomolo said his clients seek to raise fresh grounds of appeal and introduce new evidence necessary for a fair and just determination of the court.
He noted that it was strange that, while the judgments of the Federal High Court, Abuja (delivered on March 11, 2014) and the subsequent one by the Court of Appeal (which affirmed the Federal High Court judgment) were based on a £2.556b cheque alleged lodged in Union Bank by Petro Union, the said cheque was never tendered in court.
Awomolo said his client intends to show that Petro Union obtained both judgments by fraud.
He noted that Petro Union’s lawyer, Joe Gadzama (SAN) was only opposed to the grant of reliefs four and six out of the nine reliefs.
He urged the court to disregard the objection raised by Petro Union against his motion and prayed the court to grant his motion on the merit.
Olabisisi Soyebo (SAN) for the Central Bank of Nigeria (CBN) and Tijani Gazali (SAN) for the Attorney General of the Federation and Minister of Finance did not object to Union Bank’s motion.
Soyebo and Gazali, who said they did not file any process in relation to the motion, urged the court to grant it in view of the colossal amount involved and its possible implication on the nation’s economy.
Gadzama, in his response, said he vehemently opposed the motion factually and in law.
He urged the court to uphold the objection he raised and dismissed the motion on the grounds that Union Bank has not given valid and cogent reasons why leave should be granted it.
Earlier, the court finally resolved the dispute over who should represent Petro Union between Gazama and Onyechi Egwuonwu.
The court said, by its earlier ruling on July 6, 2021, it had found that Gadzama was the actual lawyer for Petro Union. It then barred Egwuonwu from further participating in the proceedings.
Petro Union had, in 1994 allegedly procured a cheque from a branch of Barclays Bank in the United Kingdom with a value of £2.556b wich it lodged in a Union Bank branch in Lagos under the pretext that the funds were to be used to construct three petrochemical refinery complexes and a bank in Nigeria.
On March 22, 2012, Petro Union sued at the Federal High Court, Abuja and sought, among others, an order of mandamus compelling the CBN, Union Bank of Nigeria Plc, Minister of Finance and the Attorney-General of the Federation to pay £2,556,000,000.00 to it.
In the suit, marked FHC/ABJ/M/104/2012 Petro Union claimed that the money was deposited with Union Bank in 1994n adding that Union Bank received £2,556,000,000.00 on its behalf and transferred £2,159,221,318.54 to the CBN while it retained £396,778,681.46 as commission.
The defendants – Union Bank, CBN, Minister of Finance and AGF – in their separate counter-affidavits, denied Petro Union’s claims.
But, in the March 11, 2014 judgment, Justice Adamu Abdu-Kafarati of the Federal High Court, Abuja (now late) held in favour of Petro Union and their directors against the defendants.
Justice Kafarati held, among others, that Union Bank was liable to Petro Union in the sum of £396,778,681.46 being the balance of Petro Union’s foreign capital which it supposedly deposited with the Bank in 1994 and that the CBN was liable to the oil firm for the sum of £2,159,221,318.54.
The liabilities were held by the court to be joint and several against all the four defendants – CBN, Union Bank, Minister of Finance and AGF.
Out of the four defendants, only Union Bank and the CBN appealed the judgment of the Federal High Court.
On June 5, 2018, the Court of Appeal, Abuja gave judgment in the appeal by Union Bank and upheld the judgment by Justice Kafarati.
It is yet to determine the appeal by the CBN.
Similarly, the Supreme Court, yesterday, demanded from the law firm of Rotimi Jacobs and Co the fiat issued to it by the Attorney General of the Federation (AGF) to prosecuted John Yakubu Yusufu, who was convicted for diverting N24billion.
Yusufu, a former Deputy Director in the Federal Civil Service Pension Office, who is serving his six-year sentence, appealed to the Supreme Court to have the 2018 judgment of the Court of Appeal, Abuja set aside.
At the mention of the case, yesterday, Theodore Maiyaki announced an appearance for the appellant.
When Oluwaleke Atolagbe (from the firm of Rotimi Jacobs & Co) announced appearance for the respondent (the Federal Republic of Nigeria), a member of the court’s five-justices panel, Justice Centus Nweze sought to know if he (Atolagbe) was from the office of the Attorney General of te Federation (AGF).
Atolagbe said he is a private lawyer from, whose firm was instructed by the Economic and Financial Crimes Commission (EFCC) to prosecute the case from the trial court.
Justice Nweze insisted that Atolagbe must present the fiat issued is firm by the AGF before further steps could be taken in the case.
When asked by the head of the panel, Justice Musa Dattijo Muhammad, if he has the fiat with him in court, Atolagbe said no, but that a letter from the EFCC, authorising his firm to prosecute the case, was in the office.
In a ruling, Justice Muhammad said, although the court sympathised with the appellant (who Maiyaki said was currently in a correctional facility), further proceedings in te case would be suspended pending when the respondent produces the fiat issue on which basis it prosecuted the case.
Justice Muhammad then adjourned January 27, 2022 at the instance of the respondent.
Justice Abubakar Talba of the High Court of the Feral Capital Territory (FCT) had, in a judgment on January 28, 2013 convicted Yusufu on a three-count charge to which he pleaded guilty following a plea bargain agreement with the prosecuting agency, the Economic and Financial Crimes Commission (EFCC).
Justice Talba had sentenced him to two years imprisonment on each count, with the option of N250,000 for each count, a decision the EFCC appealed.
In its judgment on March 21, 2018 the Appeal Court reversed the judgment of the High Court of the FCT and sentenced Yusufu to a cumulative six years imprisonment.
The appellate court then ordered to refund N22.9 billion to Federal Government’s coffers, a decision e appealed to the Supreme Court.
Although the Appeal Court’s judgment was given in 2018, Yusufu remained a free man until June 2020 when the EFCC arrest announced that its operatives arrested him in Gombe State.
He was later taken before Justice Hussein Baba-Yusuf of the High Court of the FCT, who on June 22, 2020 ordered him to be sent to prison to serve his sentence.
News
Rivers Govt Hails Anglican Church’s Role In Peace, Development
The Rivers State Government has commended the Church of Nigeria (Anglican Communion) for its outstanding contributions to the development of Rivers State, particularly in the areas of peacebuilding, education, healthcare, and moral development.
Governor of Rivers State, Siminalayi Fubara, stated that the Church has remained a dependable partner in promoting peace, unity, justice, moral discipline, and social harmony across society.
The Governor, who was represented by the Secretary to the State Government, Dr. Dagogo Wokoma, made the remarks during the thanksgiving service marking the 30th Anniversary and First Session of the 11th Synod of the Diocese of Niger Delta North, held at St. Peter’s Anglican Church on Sunday.
Governor Fubara described the Synod’s theme, “Kingdom Advancement: The Priority of Every Believer,” as timely and relevant, considering the prevailing realities in society.
According to him, the Church continues to play a vital role in shaping societal values and inspiring hope among citizens.
“The Church remains a vital partner in promoting peace, unity, justice, and moral discipline. Its role in shaping values and inspiring hope cannot be overemphasized,” he stated.
The Governor further acknowledged the Anglican Communion’s contributions in education, healthcare delivery, youth empowerment, humanitarian services, and spiritual guidance across communities in Rivers State.
“The Rivers State Government appreciates the invaluable contributions of the Anglican Communion in education, healthcare, youth development, humanitarian support, and spiritual guidance. Your impact across communities in Rivers State continues to strengthen families and promote peaceful coexistence among our people,” he added.
Governor Fubara reaffirmed his administration’s commitment to building a peaceful, united, and prosperous Rivers State where all citizens can thrive irrespective of religion, ethnicity, or social background.
He also urged the Synod to continue praying for sustainable development and progress in Rivers State and Nigeria at large.
Earlier in his sermon, the Guest Minister, Joseph Olushola, spoke on the topic, “Kingdom Investment and Internal Rewards,” urging Christians to remain faithful stewards of God’s blessings and committed to advancing God’s kingdom through service and generosity.
The cleric emphasized that believers are custodians of the virtues and resources entrusted to them by God, stressing that divine rewards are based on faithfulness and impact rather than material possessions.
News
Shell, MAN Back Rivers’ Drive For Expanded Gas Supply To Industries
The Shell Nigeria Gas Limited, in partnership with the Manufacturers Association of Nigeria (MAN), has reaffirmed support for efforts to expand gas distribution infrastructure in Rivers State as part of initiatives aimed at improving access to affordable, cleaner and more reliable energy for industries across the South-South region.
The commitment was highlighted during the SNG–MAN Business Forum held in Port Harcourt, where stakeholders from the industrial and public sectors examined the role of natural gas in driving industrialisation, boosting local production and strengthening energy security.
Speaking at the forum on behalf of the Managing Director of Shell Nigeria Gas Limited, the company’s Head of Gas Distribution, Mr. Chukwuka Amos Ejesi, described natural gas as a critical component of Nigeria’s energy mix and a key driver of sustainable industrial growth.
According to him, Nigeria’s gas development agenda has reached a stage where policy direction must be matched with practical implementation capable of addressing the energy challenges confronting manufacturers.
He noted that pipeline gas offers industries a cleaner, more dependable and cost-effective energy alternative capable of supporting uninterrupted operations, reducing emissions and improving production efficiency.
“Gas is the backbone of manufacturing, and we are encouraged by the growing recognition among stakeholders of the need for cleaner and more reliable energy solutions,” he said.
Ejesi stressed the need for sustained collaboration among energy providers, government institutions and industrial stakeholders to maximise the country’s gas resources for economic development.
He added that improved gas infrastructure would strengthen manufacturing value chains, enhance productivity and promote more competitive industrial operations across Rivers State and the wider South-South region.
Participants at the forum also emphasised the importance of expanding energy infrastructure as a pathway to unlocking industrial capacity, reducing operating costs and promoting sustainable industrial development.
Representing Governor Siminalayi Fubara, the Director-General of the Rivers State Investment Promotion Agency, Dr. Chamberlain Peterside, reaffirmed the state government’s commitment to partnering with private sector investors to revitalise industrial activities in the state.
He identified key projects targeted under the initiative to include the revival of the Ahoada Industrial Park, the New Port City project and the proposed Bonny Industrial Park, all aimed at stimulating economic growth and expanding industrial opportunities along the Bonny corridor.
According to the governor, the long-term vision is to position Rivers State as a leading manufacturing hub in Southern Nigeria through strategic public-private partnerships.
Governor Fubara also commended Shell Nigeria Gas and MAN for sustaining engagements geared towards improving industrial energy access, noting that gas infrastructure development remains central to the state’s economic recovery plans.
He further observed that the gas sector presents enormous opportunities for economic growth, especially as global energy systems continue to shift towards cleaner energy sources.
The governor called on stakeholders to work collectively towards developing a practical and sustainable gas framework capable of supporting the state’s industrial and energy development objectives.
By; Kevin Nengia
News
Odu Charges Newlyweds To Build Marriage On Love
Rivers State Deputy Governor, Prof. Ngozi Nma Odu, has charged newlywed couples to build their marriages on the virtues of love and submission as taught in the Word of God.
Prof. Odu gave the charge at the wedding ceremony of Amblessed Favour Sunny-Cookey and Samson Jesuganji at Lifegate Power Ministries, Dominion Cathedral, in Port Harcourt on Saturday, 16th May 2026.
The Deputy Governor congratulated the couple on beginning a new phase of life together and prayed for God’s blessings upon their union, noting that the couple had been raised by godly parents and encouraged them to uphold the Christian values instilled in them.
Referring to the sermon delivered during the ceremony, Prof. Odu emphasized that the principles of love and submission remain fundamental to a successful marriage.
According to her, genuine love reflects the nature of God, stressing that love should remain the foundation of the couple’s relationship as they journey through life together.
Prof. Odu further prayed for enduring peace, happiness, and progress in the home, expressing confidence that the marriage would continue to flourish under God’s guidance.
The Deputy Governor also commended the families of the couple for their support and upbringing, while urging the newlyweds to always remember the significance of the day and the commitment they had made before God and witnesses.
In his sermon at the wedding, the Founder and Presiding Pastor of Salvation Ministries, Pastor David Ibiyeomie, stated that marriage did not originate from Western culture, traditions, or human ideas, but from God, whom he described as the “manufacturer” of marriage.
According to the cleric, couples seeking lasting and peaceful homes must rely on biblical principles rather than societal trends or assumptions.
He explained that many marital crises and rising divorce rates stem from ignorance and failure to apply scriptural teachings in family life.
Drawing from the biblical parable of building a house on a rock, Pastor Ibiyeomie said the Word of God remains the only solid foundation capable of sustaining marriages through challenges and difficult times.
He noted that marriage naturally comes with unexpected realities and pressures, stressing that religious ceremonies or cultural practices alone are not enough to sustain a home without proper understanding of God’s instructions.
The pastor further warned that ignorance of scripture remains one of the greatest weapons against believers, urging Christians to study and practice the Word of God rather than merely attending church services.
It would be recalled that the bride is the daughter of Pastor Sunny Cookey the Founder and Presiding Pastor of Lifegate Ministries. The Ceremony had lots of Ministers in attendance which includes Apostle Zilly Aggrey, Pastor George Izunwa, and Bishop Winston Iwo
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