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Court orders banks not to release funds to Chinmark Group over alleged N20 billion scam

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On Tuesday, Justice Kudirat Jose of the Lagos State High Court in Osborne ordered commercial banks in Nigeria not to release funds to Chinmark Group and three others.

The judge gave the order following allegations of a failed Ponzi scheme levelled against the defendants. According to applicants in the suit, the defendants have failed to pay them outstanding investment and return on investment since December 30, 2021.

The 4 claimants filed the suit on behalf of themselves and 76 other investors claiming to have been scammed by Chinmark group to the tune of N20 billion.

Court orders banks not to release funds to Chinmark Group over alleged N20 billion scam

The Backstory

In an ex-parte application, the applicants (who had invested in Chinmark Group) instituted a suit against the group, its CEO, his wife, and others. They claimed to have been scammed by the defendants.

They prayed the court for an order of Mareva injunction restraining all commercial banks in the country from releasing money or assets belonging to Chinmark Group Limited and the others.

Ruling on the ex-parte application, Justice Kudirat granted the order sought by the claimants and restrained commercial banks from releasing or dealing with monies or assets due to defendants from any bank maintained by them.

In the Mareva order granted by the court, the court ordered the banks to freeze the sum of N246,610,000 in the defendant’s accounts. The sum is the outstanding investments and returns on investments accruing to the applicants from the defendants as of December 30, 2021.

The judge further ordered all banks holding funds or assets belonging to the defendants to file an affidavit showing the account balance of all the defendants.

Subsequently the judge also granted the claimants leave to serve all their processes on the defendants at their last known address.

Though the court granted the order of Mareva injunction, the court refused to grant an order stopping defendants from selling, transferring, and dealing with properties the claimants can trace during the pendency of the suit. According to the court, the claimants did not list any particular property.

What you should know

The claimants include: Stephanie Ohuche, Okonkwo Blessing, Oliver Njoku, and Livinus Chinamere

The defendants include Chinmark Group Ltd, FinAfrica Invest Ltd, the CEO of both companies Ijiomah Marksman Chinedu, and his wife, Marksman Uhunoma.

 

 

 

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Boko Haram Demands $300,000 Ransom For Abducted Borno Ex-LG Chair, Another Victim

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A new video has emerged showing two men reportedly kidnapped by Boko Haram insurgents in Borno State, pleading for assistance to secure their release.

 

One of the captives, former Biu Local Government Area Chairman Hassan Biu Miringa, revealed that their abductors are demanding a $300,000 ransom.

 

Miringa said he and another individual were taken in December 2025 and have remained in the custody of the militants.

 

In the video shared by Zagazola Makama, Miringa introduced himself, saying: “I am Hassan Biu Miringa, former Chairman of Biu Local Government from 2020 to 2022. Four years after my tenure, we were kidnapped by the soldiers of Khilafa about two weeks ago. Alhamdulillah, we are still alive, but we urgently need help to save our lives.”

 

He added that negotiations with the kidnappers had been underway, with some preliminary agreements reportedly reached.

 

“We have engaged them on four separate occasions and reached an understanding. We appeal to our leaders, especially Borno State Deputy Governor Alhaji Usman Umar Kadafur, the National Assembly representative for Biu, Kwaya, and Shani Hon. Betera Aliyu, as well as our community leaders, to temper justice with mercy and assist us. We are their children and have been working together,” Miringa said.

 

He confirmed the ransom demand, explaining that each captive is expected to pay $150,000, totaling $300,000 for their freedom, and pleaded for urgent intervention to reunite with their families.

 

The video highlights ongoing concerns over kidnappings and insecurity in southern Borno State, which have persisted despite government efforts to curb insurgent activity in the region.

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How Rivers Women Spread Wrappers For Wike’s Motorcade During Port Harcourt Visit

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The Minister of the Federal Capital Territory, FCT, Nyesom Wike, on Saturday visited Port Harcourt City Local Government as part of his “thank you” visit across Rivers State.

 

Upon his arrival, a group of women displayed a symbolic gesture of loyalty by spreading their wrappers on the ground for his motorcade.

 

The women and supporters of the Minister were in a jubilant mode as Wike drove on the wrappers.

 

Wike has been going around local governments in the state to appreciate them for their support while reeling out moves ahead of the 2027 general elections.

 

In the course of his visits, the Minister had fired several salvos at political actors in the state, warning that their sudden support for President Bola Tinubu won’t secure them any ticket in 2027.

 

Wike also renewed rivalry with Governor Sim Fubara over the leadership control of the political space in the state.

 

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Impeachment Proceedings Against Fubara, Deputy Still Active – Rivers Assembly

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The Rivers State House of Assembly has officially reaffirmed that the impeachment proceedings against Governor Siminalayi Fubara and his deputy, Prof. Ngozi Odu, are ongoing and have not been suspended.

 

The Assembly said the process is still ongoing and is being conducted strictly in line with constitutional provisions.

 

This was contained in a statement issued on Friday by the Chairman of the House Committee on Information, Petitions and Complaints, Hon. Enemi George.

 

According to the statement, the impeachment process, which began on Thursday, January 8, 2026, remains on course in line with the 1999 Constitution of the Federal Republic of Nigeria (as amended).

 

The lawmakers disclosed that separate notices of allegations bordering on gross misconduct have been served on both the governor and his deputy in line with Section 188 of the Constitution.

 

“The notices of allegations of gross misconduct against the Governor and the Deputy Governor have been duly forwarded to them by the Speaker of the House, Rt. Hon. Martins Amaewhule, and the House is awaiting their responses,” the statement said.

 

The Assembly maintained that it is constitutionally obligated to act in the interest of the rule of law and ensure that no public office holder acts outside legal boundaries.

 

Reacting to reports suggesting that the impeachment move had been halted, the House accused some individuals and media outlets of deliberately spreading misinformation to mislead the public and stir tension between the legislature and Rivers residents.

 

The lawmakers described such reports as false and insisted they would not succumb to intimidation, threats, or blackmail.

 

“We are aware of renewed attempts by certain persons and media platforms to misinform the public by claiming that the impeachment process has been discontinued. The public should disregard such falsehoods, as the process remains active,” the statement added.

 

The Assembly reaffirmed its commitment to democratic principles and constitutional responsibilities, stressing that it would not be distracted by what it termed “cheap propaganda.”

 

It also appreciated the people of Rivers State for their support and prayers amid the ongoing political developments and extended goodwill to Nigerians committed to the nation’s democratic journey.

 

JomogNews reports that during Thursday’s plenary session, presided over by the Speaker, the Majority Leader, Major Jack, formally read the notice of allegations of gross misconduct against Governor Fubara on the floor of the House.

 

 

 

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