Business
Court Grants Ex-Finbank MD Nod To Travel
The Federal High Court in Lagos on Monday granted leave to a former Managing Director of Finbank, Okey Nwosu, to travel abroad for medical check-up.
Also granted permission to seek medical help overseas was a non-executive director, Dayo Famoroti.
Both men had filed applications, urging the court to verify their bail conditions to allow them to travel abroad.
As part of their bail conditions granted on Sept. 15, 2009, the court had ordered them not to travel out of the country pending the determination of the case preferred against them.
The EFCC had slammed a 42-count charge on Nwosu, Famoroti and two other directors of the bank, Danjuma Ocholi and Agnes Ebubedike over alleged misuse of depositors’ funds.
The commission accused them of committing economic crimes, including manipulating the bank’s shares and money laundering to the tune of about N100 billion.
Nwosu and Famoroti had on Aug. 3 argued that the judge had the inherent powers to verify the bail conditions and to allow them travel abroad for medical check-up and other businesses.
The prosecution counsel, Mr Rotimi Jacobs, however, urged the court not to review their bail conditions on the grounds that there were no cogent reasons given by the applicants.
In his ruling on Monday, Justice Dan Abutu, granted the prayers of the applicants on the grounds that he had the powers to vary the bail conditions.
“The accused persons are hereby permitted to travel abroad for medical check-up, but must return to the country two days before the next date of adjournment,’’ he said.
The case has been adjourned to Nov. 29 for the hearing of the applications filed by the accused for a further stay of proceedings pending the hearing of their appeal.
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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