News
Granite and Marble drags Zenith Bank to Court Over Alleged Economic Infractions

An Abuja based mining company, Granite and Marble Ltd, (GML) has dragged Zenith Bank Plc, Zenith Bank UK, First Investment Development Company (FIDC) and Prudential Mortgage Bank (PMB) before a federal high court in Abuja over alleged forgery, illegal conversion of equity, illegal operations of bank account, economic sabotage and threat to life.
The mining firm is claiming a sum of N635billion as specific and general damages for the alleged infractions committed against it by the four banks and others.
Apart from the banks, others listed as defendants in the suit marked: FHC/ABJ/CS/1455/2021 are the Managing Director of Zenith Bank, Ebenezer Onyeagwu; the Managing Director of FIDC, Adebisi Adebutu; the Managing Director of PMB, Eyo Asuquo; the Deputy Managing Director Zenith Bank, Mrs Adaora Omeoji; Yewande Esan and others.
In the writ of summons filed on behalf of GML and others by Messrs Sebastine Hon (SAN), Anthony Malik (SAN) and Paul Harris Ogbole (SAN), the plaintiffs are claiming the N635 billion as specific and general damages for the series of infractions committed by the defendants against them.
In the particulars of the suit, Zenith Bank is accused of diverting the sum of N1billion approved for GML by the Central Bank of Nigeria CBN and routed through Zenith Bank.
The plaintiffs also claimed that Zenith Bank and its officers allegedly connived with Adebutu, Asuquo, FIDC and PMB to illegally change signatories to GML accounts without the authorization of the actual signatory to the accounts.
FIDC and PMB are alleged to have forcefully taken over the operations of the quarry site of GML despite not paying for the shares of the company they had proposed to buy.
GML also claimed that Zenith Bank held unto its verified assets for four years as collateral without disbursing the N1billion Real Sector Support Funds (RSSF) approved for it by the CBN.
In the suit which is accompanied by a 126 point statement of claim, GML and its Directors highlighted their ordeal in the hands of the institutions and individuals, which they claimed resulted in massive revenue losses, arrest of members of their families, denial of access to their business premises and transferring their accounts to persons not properly and legally authorized to do so.
GML further claimed that sometime in 2016, it’s Managing Director was on President Muhammadu Buhari’s delegation, as a representative of the mining sector, on the President’s first trade visit in China.
It added that while on the trip, the President signed an agreement with SBM China Ltd, one of the world’s largest manufacturers of mining equipment, to establish the biggest mining processing plant in Africa to be located in Abuja.
According to the company, it was on the strength of the agreement that they approached and got approval for a N1billion facility from the Real Sector Support Fund (RSSF) operated by the Central Bank of Nigeria.
The plaintiffs claimed that not only did Zenith Bank refuse to release the funds which were GML’s counterpart commitment, it frustratingly held on to the company’s assets and wrote several approval and offer letters without disbursements.
At a point, Zenith Bank was said to have claimed, in a letter, that the funds will be disbursed by their UK subsidiary, Zenith UK Ltd.
The refusal by Zenith to release the funds was said to have jeopardized the agreement signed in China to reduce cost of construction.
The plaintiffs stated that Messrs Eyo Asuquo, FIDC and PMB approached GML to purchase shares in the company (GML) valued at an agreed combined sum of N700million.
Despite not paying for the shares, the plaintiffs alleged that they illegally tampered with the company’s documents at the Corporate Affairs Commission (CAC) and introduced names of themselves and substituted the names of other directors and the Company Secretary based on forged board resolutions.
The plaintiffs averred that with the altered documents, they connived with Zenith Bank to change the signatory to the account.
Adebutu and his team were also alleged to have forcefully taken over the sites of the company and conspired with Zenith Bank to draw down from the RSSF facility using the instrumentality of a forged deed of debenture.
They also claimed that while the quarry site was taken over by the purported new owners, illegal trade in unlicensed explosives were carried out thereby endangering residents of the neighbourhood.
The plaintiffs further averred that evidence of illegal trade in explosives by the defendants are before the Economic and Financial Crimes Commission (EFCC).
For the trauma experienced by the families, the cancelation of the contract occassioned by the activities of Zenith bank and the massive loss of revenues occasioned by the illegal take over of the company, the plaintifs are making a claim of N635billion or $1.2billion from the defendants.
Meanwhile, Justice Inyang Eden Ekwo of thE Federal High Court, Abuja on January 21, 2022 granted the plaintiffs’ request for substituted service of court documents on Zenith Bank, UK through DHL, a courier firm.
The judge granted the substituted service order while ruling on an ex-parte application filed and argued by lead counsel to the plaintiffs, Chief Sebastine Hon SAN.
Justice Ekwo consequently fixed March 8, 2022 for the hearing of the suit.
News
‘Ombugadu Is a Brand, Not a Title’ — PDP Chieftain
By Emmanuel Kuza
A chieftain of the Peoples Democratic Party (PDP) in Nasarawa State, Abuga Ovie, has described the name Ombugadu as a political brand, saying the popularity and wide acceptance of the name have made David Emmanuel Ombugadu a major force in the state’s political landscape.
Ovie, who stated this in an interview on Tuesday, said what started as opposition from some of Ombugadu’s biological brothers and people he described as fathers and uncles who betrayed him for personal political interests had now assumed a wider dimension, with political parties allegedly joining the battle against him.
According to him, the latest development was an attempt to undermine the political value of the Ombugadu name by presenting another person with the same surname, describing it as an indication of how far some political actors were prepared to go to weaken the PDP governorship candidate.
“Ombugadu is a brand, not a title. The people are not fools. They know their own. You cannot simply bring another person bearing the same name and expect the people to forget the political identity that Ombugadu has built over the years,” he said.
He further alleged that a former governor was working to introduce a political associate who had served as Accountant-General of Nasarawa State into the political equation, with the alleged objective of destabilising the PDP and weakening its chances by ensuring that the party fields a less competitive candidate in 2027.
“The plan, as we understand it, is to destabilise the PDP and make sure the party presents a weak candidate, thereby creating an advantage for the former governor’s preferred candidate. But all those efforts have proved abortive because the national leadership of the PDP stood its ground and refused to lose its best bet for the 2027 governorship election,” Ovie said.
The PDP chieftain said the resolve of the national leadership to retain Ombugadu had demonstrated the confidence the party had in his capacity to win the governorship election, despite what he described as attempts by some political actors to frustrate his ambition.
Ovie urged political parties and their leaders to resolve their internal differences instead of concentrating their efforts on Ombugadu, whom he compared to David in the Bible, saying he remained focused despite betrayal and opposition from those close to him.
“Ombugadu is like David in the Bible. Even when his brothers forsook him, he remained focused. Today, despite the people who have betrayed him, he remains focused and has a blueprint that can rescue Nasarawa State,” he said.
He said political parties should concentrate on presenting their programmes and convincing voters about how they intend to address the challenges confronting the state rather than expending their energy on attempts to stop Ombugadu.
“Political parties should fix their problems instead of wasting their strength fighting Ombugadu. Let everybody bring their blueprint before the people and explain what they intend to do for Nasarawa State,” he said.
Ovie maintained that the 2027 election should be about ideas, competence and the future of Nasarawa State, rather than attempts to manipulate political structures or undermine individuals perceived to enjoy strong grassroots support.
He urged the people of the state, particularly the Eggon community, to remain politically vigilant and resist what he described as efforts to make them settle for less, insisting that voters would ultimately determine who enjoys their confidence at the polls.
Reduce repeated references to Ombugadu
News
200 widows benefit from empowerment outreach in Plateau
By Israel Adamu, Jos
Two hundred widows from communities across Langtang North Central State Constituency of Plateau State have benefited from an empowerment outreach organised by Gimbiya Gani Nandir Lar under the Jagoran Talakawa movement.
The outreach, held at Pilgani in Langtang North Local Government Area, was aimed at supporting vulnerable women and drawing attention to the challenges faced by widows, particularly those struggling to provide food, pay school fees and meet other basic needs for their families.
The organiser, Nandir Lar, who is the All Progressives Congress, APC, candidate for Langtang North Central State Constituency, said the gesture was motivated by compassion and concern for vulnerable members of the society.
She stressed that the outreach was not a political programme but an expression of love and support for humanity.
Nandir Lar said: “The plight of widows may not always make headlines, but their struggles are real, painful and deserving of our collective attention.
“This is simply an expression of compassion and love for humanity. It is not a political programme.
“Our constituency is home to people with diverse needs, including mothers, widows and young people who are seeking opportunities to improve their lives.”
Former Provost of the Federal College of Education, Pankshin, Amos Chirfat, commended the initiative, saying it had brought smiles to the faces of vulnerable women in the constituency.
Minority Leader of the Langtang North Legislative Council, Dirya Sheni, also commended Nandir Lar for supporting widows and other vulnerable members of the community.
At the end of the outreach, each of the 200 beneficiaries received a 10-kilogramme bag of corn flour, seasoning and N10,000 cash
News
SCUML, REDAN Strengthen Collaboration on Anti -Money Laundering Compliance
By Francis Wilfred
The Special Control Unit against Money Laundering (SCUML), and the Real Estate Developers Association of Nigeria (REDAN) have expressed commitment to ensure a full compliance with the Anti Money Laundering/Counter Finance on Terrorism/Counter Proliferation Financing, (AML/CFT/CPF) laws within the Nigeria’s real estate sector.
They made the resolve during a stakeholders’ engagement held on Thursday, September 10, 2026
The engagement focused on Mutual Evaluation readiness, risk-based supervision, beneficial ownership transparency, customer due diligence, internal controls and stronger collaboration between SCUML and the real estate sector.
Assistant Commander of the EFCC, ACE 1 Ibinabo Amachree, speaking on behalf of SCUML highlighted the strategic role of real estate operators in protecting the integrity of Nigeria’s financial system, particularly given the sector’s vulnerability to money laundering and other financial crime risks.
Amachree encouraged REDAN members to move beyond registration to ensure that compliance is embedded in their day-to-day operations. He mentioned the areas to include: understanding institutional risks, knowing customers and beneficial owners, identifying politically exposed persons, conducting appropriate sanctions screening, maintaining effective internal controls and meeting applicable reporting obligations
He, therefore, reaffirmed readiness to working closely with REDAN and other stakeholders to improve compliance, build capacity and promote a stronger culture of accountability across the real estate sector
“The message is clear: effective compliance is not just about meeting regulatory requirements; it is about protecting businesses, strengthening the real estate sector and safeguarding the integrity of Nigeria’s financial system”, she said.
In his remarks, the Chairman of REDAN, Lagos state, Mr Tony Kolawole pledged readiness to partner with SCUML in ensuring compliance with AML/CFT/CPF in the real estate sector to uphold financial integrity.
The engagement also provided an opportunity for REDAN members to share practical regulatory and operational challenges affecting the sector, reinforcing the importance of continuous dialogue between regulators and industry stakeholders.
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