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Contempt: Court Grants EFCC’s Motion For Stay Of Proceedings

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Justice Joseph Oyewole of the Court of Appeal in Abuja has granted an ex-parte motion for a stay of proceedings filed by the Economic and Financial Crimes Commission (EFCC) against the contempt proceedings commenced by the former governor of Kogi State, Yahaya Bello.

The Court of Appeal also granted EFCC prayers to serve the processes in the appeal by substituted means on the former governor.

With Oyewole were Justices P. C. Obiora and Okon Abang.

The EFCC boss had been summoned by Justice Isa Abdullahi Jamil of the Kogi State High Court to appear on May 13, 2024 to show cause why he should not be committed to prison for disobeying the orders of the court.

The EFCC, however, appealed the ruling of the trial court and sought a stay of the proceeding of the court.

The EFCC boss is accused of carrying out “some acts upon which they (the EFCC) have been restrained” by the Court on February 9, 2024, pending the determination of the substantive Originating Motion.

But the Court of Appeal yesterday gave the orders for the stay of contempt proceedings after hearing Chief J.S.Okutepa (SAN) leading Eko Ejembi Eko (SAN), Abdulkareem Musa and David Ojogbane Akogu.

The court ordered for substituted service of all the processes in the case to be pasted at No 9 Bengazi Steet Wuse Zone 4 Abuja being the last known address of Yahaya Bello.

In granting the orders, the Appeal Court held that the motion ex-parte had merit and adjourned the hearing of the Motion on Notice to May 20, 2024.

The first Motion, which was moved by Okutepa sought an ex parte order staying the execution of the Orders made Ex-parte in Motion No. HCL/190M/2024 on the 25th day of April 2024, in the case of Alhaji Yahaya Bello vs. EFCC.

The second motion was for an order to serve the respondent Yahaya Bello all the processes in the appeal by substituted means through the mode stated on the face of the motion.

Ruling in Suit No: HCL/68M/2024 and Motion No: HCL/190M/2024, Justice I. A. Jamil had ordered that “the said act was carried out by the Respondent (EFCC) in violation of the order, which was valid and subsisting when it carried out the act.

The court said the EFCC action amounted to contempt of the court.

EFCC operatives had laid siege to the residence of the former Governor on April 17, 2024 to arrest him, despite a court order restraining them from taking such action, pending the determination of the Originating Motion.

Justice Jamil’s order was based on a motion ex-parte filed by Yahaya Bello through his lawyer, M.S. Yusuf in which he prayed the court for an order to issue and serve the Respondent (EFCC Chairman) with Form 49 Notice to show cause why Order of committal should not be made on Olukoyede.

Meanwhile, the Human and Environmental Development Agenda (HEDA Resource Centre) has dragged Justice Jamil to the National Judicial Council (NJC) for issuing the order of contempt against the EFCC chairman.

Although HEDA dated its petition April 29th, 2024, it was acknowledged by the Office of the Chief Justice of Nigeria on May 2nd, 2024.

The Chief Justice of Nigeria is also the chairman of the National Judicial Council (NJC).

The NGO, in the petition, accused Jamil for granting an order which sought to enforce “a non-existence and sundry misconduct.”

It described the action of the judge as gross abuse of his judicial powers “in a suit that not only the Kogi State High Court has become functus officio but the order sought to be enforced is non-existence at the time the ‘order to show cause’ was made.”

It added: “”We are of the view that the order to show cause granted as per Motion HCL/190M/2024 are designed to annoy, irritate, and portray the commission in bad light.

“The order to show cause was granted in a very disturbing and unnecessary circumstance. The order was granted by his Lordship in the above suit on the 25th day of April, 2024 in very questionable circumstances.

“The SUIT NO: HCL/68M/2023 BETWEEN ALHAJI YAHAYA BELLO v. ECONOMIC AND FINANCIAL CRIMES COMMISSION was filed on the 8th day of February, 2024 by Alhaji Yahaya Bello (“The Applicant”) for the enforcement of his fundamental rights seeking certain declaratory orders against the Commission.

“The crux/ objective of his claim as constituted in the originating motion was for the court’s enforcement of his fundamental rights particularly by restraining the commission from inviting, detaining, arresting and/or prosecuting the Applicant. The Originating Motion is herein attached and marked as “Exhibit HEDA 1.”

The litigation is a fallout of the N80 billion money laundering case against Bello by EFCC.

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Investors Affirm Support For Fidelity Bank Plc With 238% Oversubscription In The First Phase Of Equity Capital Raise

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Leading financial institution, Fidelity Bank Plc, has announced the successful conclusion of the first tranche of its equity capital raise through its Public Offer and Rights Issue (the Combined Offer) following the completion of the capital verification exercise conducted by the Central Bank of Nigeria (CBN), and approval of the Basis of Allotment by the Securities and Exchange Commission (SEC).

A total of 108,046 applications for 23,791,687,463 Ordinary Shares totaling ₦231,968,952,764.25 were received on the Public Offer. Out of these, 107,588 applications for 23,768,724,000 Ordinary Shares totaling ₦231,745,059,000.00 were found to be valid based on the terms of the Offer and the CBN’s verification. However, 458 invalid applications for 22,765,143 Ordinary Shares totaling ₦221,960,144.25 were rejected, while 548 applications which included odd lots amounting to 198,320 Ordinary Shares (i.e. ₦1,933,620.00) were also rejected. The Public Offer was 237% subscribed and 150% allotted.

With respect to the Rights Issue, 7,559 applications for 4,430,290,237 Ordinary Shares totaling ₦40,980,184,692.25 were received of which 656 applications for 23,037,442 Ordinary Shares totaling ₦213,096,338.50 were invalid based on the terms of the Rights Issue. The Rights Issue was 137.73% subscribed and 100% allotted.

“We are delighted to announce the successful completion of the first phase of our capital raising initiatives through a Public Offer and Rights Issue. The positive result recorded in our Combined Offer is a testament to the strength of the Fidelity Bank franchise in the capital market. It is both gratifying and humbling to note this level of investor confidence in our Bank. We extend sincere gratitude to our investors for their continued confidence in the Bank, as evidenced by the 237.92% and 137.73% oversubscription of our Public Offer and Rights Issue respectively. As we go into the next phase of our capital raising drive, we reaffirm our commitment to providing cutting-edge financial solutions to our customers and sustainable returns to our stakeholders”, commented Dr Nneka Onyeali-Ikpe, OON, Managing Director and Chief Executive Officer, Fidelity Bank Plc.

The funds realised from this initial phase of capital raising will be deployed to local and international business expansion, enhancement of technology infrastructure and deepening customer service initiatives.

With the successful conclusion of the first phase of capital raising, the Board of Directors recently obtained the approval of shareholders to commence the second phase and is confident of meeting the new regulatory capital for banks with international authorisation before the CBN’s deadline of March 31, 2026.

Following the CBN’s publication of the revised minimum capital requirement for banks in March 2024, Fidelity Bank with its combined offer of June 2024, became the first financial institution undertake a public offer on the Nigerian Exchange Group.

From an offer price of N9.75 per share for the Public Offer and N9.25 per share for the Rights Issue in June 2024, the Bank’s shares traded at a high of N21.15 on February 7, 2025, a growth rate of over 116%, the highest for any financial institution in the banking industry.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 8.5 million customers through digital banking channels, its 251 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the Export Finance Bank of the Year at the 2023 BusinessDay Awards; the Banks and Other Financial Institutions (BAFI) Awards; Best Payment Solution Provider Nigeria 2023; and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards. It was also recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023 and the Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

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Video: I Won’t Apologise For Your ‘Forgetfulness’ – Naja’atu Muhammad dares Ribadu

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Founder and Chairman board of trustees of the Northern Star Youth Initiatives, Hajia Naja’atu Muhammad, has reacted to reports of the National Security Adviser (NSA), Nuhu Ribadu, demanding apology over her viral TikTok video.

Naja’atu, in a recent video sighted by our correspondent, dared the NSA to go to court if he has issues with her statement, saying she’s not ready to apologise for his ‘forgetfulness’.

Meanwhile, Hajia Muhammad, in the viral TikTok video, claimed that the current NSA is serving in President Bola Tinubu’s government, whom he had criticised as ‘corrupt’ when he was the Chairman of the Economic and Financial Crimes Commission (EFCC).

However, Tribune Online reports that the NSA Ribadu, through his lawyer, Dr Ahmed Raji (SAN), said he never publicly or privately accused Tinubu of being a corrupt government official.

The NSA therefore urged Naja’atu Muhammad to tender an unreserved apology, noting that the damage had been done to his reputation.

But Naja’atu Muhammad, while responding, said she stood by her original statement and would never be intimidated by those she referred to as “attack dogs” from the NSA.

She said, “There’s no retreat. No surrender. No apologies to Nuhu Ribadu. I’m speaking in response to the recent threats and intimidation by Nuhu Ribadu using his attack dogs and his lawyer, Ahmed Raji and Co.

“Regarding my statement that the then chairman of the EFCC had publicly accused the then Governor of Lagos State, Ahmed Bola Tinubu of being and I quote ‘a corrupt government official who will not escape justice’.”

Continuing, she noted her acknowledgment of the possibility of Nuhu Ribadu to have forgotten or retracted his past comment, but stated that her words accurately reflected her views on the matter already in public domain.

“While I acknowledged that Nuhu Ribadu might have forgotten or chosen to retract his comment from the past, I stand by my statement and do not believe an apology is warranted. Apology to whom exactly? To President Tinubu for the earlier comments made by his now National Security Advisor? Or apology to Nuhu Ribadu for his forgetfulness and master-serving mindset.

“I stand by my original statement and will not be retracting it. My words accurately reflect my views on the matter based on what is already in the public domain. And I do not believe an apology or retraction is necessary,” Naja’atu Muhammad added.

The Northern Star Youth Initiative leader urged the NSA to approach the court as he has threatened, saying, “I will not compromise my position to appease Nuhu Ribadu and his attack dogs. I will not retract my statement nor will I apologize for speaking the truth as I see it. You have issues, as you’ve threatened; please go straight to the court. But nothing will silence me.”

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Speaker Mojisola Meranda Calls For United Action To End Female Genital Mutilation

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Lagos Speaker Mojisola Lasbat Meranda has reaffirmed commitment to ending Female Genital Mutilation (FGM), calling for a united front against the practice.

In a statement marking the International Day of Zero Tolerance for Female Genital Mutilation, Meranda condemned the violation of human rights that affects millions of girls and women worldwide.

Meranda emphasised the need for accelerated efforts to end FGM, stressing that it’s a responsibility that goes beyond governments to every individual. She vowed to push for policies that raise awareness and protect potential victims, ensuring the health, dignity, and rights of young girls are safeguarded.

She said: “This year’s theme, #StepUpThePace, is a call to action. We must accelerate efforts to end this barbaric practice once and for all. It is not just the responsibility of government but of every individual – whether you are a legislator, a healthcare worker, a professional or simply a concerned human being.

“We must unite to protect the future of our daughters and ensure their health, dignity and rights are safeguarded. I commit to pushing for policies that protect girls, raise awareness and put an end to this atrocity.”

The Speaker urged everyone to take action in their respective capacities to put an end to FGM, emphasizing that together, a world free of this harmful practice is possible.

 

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