Breaking News
Family Formally Announces Death Of FCMB Founder, Subomi Balogun
The family of the founder of the First City Monument Bank (FCMB), Subomi Balogun, on Monday officially announced his death.
Balogun, 89, died on May 18 in London, United Kingdom.
His family said in a statement that the registers would be open for people to express their condolences.
The registers, according to the statement, would be open from 11am on Monday at his homes in Lagos and Ogun states, and at some FCMB offices.
The statement read, “With a heavy heart but with gratitude and total submission to the will of the Almighty God, we announce the passing of our patriarch and the founder of FCMB, Otunba Michael Balogun, CON, the Olori Omo Oba Akile Ijebu and Asiwaju of ljebu Christians, who passed away, following a very brief illness, at the age of 89 years, in the evening of Thursday, May 18, 2023, in London, United Kingdom, surrounded by his family.
“While we mourn his passing, we are grateful for the full life he lived and the legacy of hard work, entrepreneurship, excellence, tenacity, courage, faith, style, and discipline, along with his commitment to God, to church, to family, community, philanthropy and Nigeria, which he has left for us, to emulate.
“We are comforted in our loss by the remarkable outpouring of love and sympathy, all your kind words and the effusive expressions of warmth. Books of condolence will be open from 11 am on Monday, May 23, 2023, at his homes in Lagos and ijebu Ode, Ogun State, and at the following offices.
“The FCMB Group Headquarters, 44 Marina, Lagos; Primrose Tower, 17A Tinubu Street, Lagos; Founders Place, 2 Sanusi Fafunwa Street, Victoria Island, Lagos; First City Plaza, 252 Herbert Macaulay Way, Central Business District, Abuja, and Chapel Hill Denham, 10 Bankole Oki Street, Ikoyi, Lagos.”
Breaking News
Corruption Battle: Dangote Drags Ex-NMDPRA Boss To EFCC After ICPC Withdrawal
Aliko Dangote, Chairman of Dangote Industries, through his legal representative, has formally submitted a corruption petition to the Economic and Financial Crimes Commission (EFCC) against Farouk Ahmed, the former Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
This was disclosed in a statement made available to our correspondent by the Dangote Group media team on Friday.
Recall that Dangote had earlier petitioned the Independent Corrupt Practices and Other Related Offences Commission to investigate Ahmed for allegedly spending $5 million on his children’s secondary education in Switzerland. He withdrew the petition a few days ago, even as the ICPC vowed to continue with its investigation.
The statement on Friday said Dangote’s petition to the EFCC followed “The withdrawal of the same petition from the Independent Corrupt Practices and Other Related Offences Commission, a strategic decision aimed at accelerating the prosecution process.”
In the petition, signed by Lead Counsel Dr O.J. Onoja, Dangote urged the EFCC to investigate allegations of abuse of office and corrupt enrichment against Ahmed, and to prosecute him if found culpable.
The petition further stated that Dangote would provide evidence to substantiate claims of financial misconduct and impunity.
“We make bold to state that the commission is strategically positioned, along with sister agencies, to prosecute financial crimes and corruption-related offences, and upon establishing a prima facie case, the courts do not hesitate to punish offenders. See Lawan v. F.R.N (2024) 12 NWLR (Pt. 1953) 501 and Shema v. F.R.N. (2018) 9 NWLR (Pt.1624) 337,” the petition read.
Onoja further urged the commission, under the leadership of Mr Olanipekun Olukoyede, “To investigate the complaint of abuse of office and corruption against Engr. Farouk Ahmed and to accordingly prosecute him if found wanting.”
Breaking News
Rivers Assembly Reopens Impeachment Push Against Gov. Fubara, Deputy
The Rivers State House of Assembly formally recommenced impeachment proceedings against Governor Siminalayi Fubara and his deputy, Prof. Ngozi Odu.
This marks the second time within ten months that the state legislature has initiated such a move.
At a plenary session presided over by the Speaker, Martins Amaewhule, the Majority Leader of the House, Major Jack, formally read the notice detailing allegations of gross misconduct against Governor Fubara.
The notice, which was endorsed by 26 lawmakers, accused the governor of actions allegedly in violation of the Nigerian Constitution.
Amaewhule announced that the notice would be served on the governor within the next seven days.
During the same sitting, the Deputy Majority Leader, Linda Stewart, read the notice of allegations and gross misconduct leveled against Deputy Governor Ngozi Oduh.
Breaking News
Supreme Court: President Has Power To Declare Emergency Rule, Remove Elected Officials
The Supreme Court has reaffirmed that the President holds the constitutional power to declare a state of emergency in any state where circumstances threaten public safety or governance.
According to the ruling, this authority may be exercised to prevent a serious breakdown of law and order or to stop conditions from deteriorating into chaos or anarchy.
The court emphasized that such powers are intended to safeguard national stability and ensure the continued functioning of democratic institutions when extraordinary situations arise.
It noted that emergency measures are justified only in exceptional cases where normal governance mechanisms are unable to effectively address escalating crises.
More details later…
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