Connect with us

News

BOI, Unity Bank in court over N150m loan

Published

on

By Our Correspondent with agency reports

Bank of Industry (BOI) and the Unity Bank Plc were at the FCT Court, over non performance of N150 million loans granted to Valentino Project Ltd. by BOI.

Valentino Project Ltd. had in 2012 secured a loan of N150 million for the construction of water treatment factory and production in Kuje, FCT, while Unity Bank acted as its guarantor.

The Counsel to the plaintiff, Mr. Toluwaseun Alabi Valentino, said that Unity Bank acted as the guarantor for Valentine Project Ltd. to secure the loan.

Alabi said that a loan of N150 million was given to Valentino to set up a water treatment factory and production line in Kuje, adding that “it did just that, while Unity bank acted as the guarantor to Valentino.’’

He said that in August 2013, Valentino received a communication from BOI that the transaction had been terminated.

He however argued that since the loan was for five years and still operational; it would amount to a breach of agreement if it was terminated.

“Valentino Project Ltd. has built the water treatment factory and production in Kuje and bought the needed equipment, in fact everything is on ground,“ he said.

Alabi said that Valentino had refused to commence work because of the problem it had encountered, adding that the project was stalled because the N150 million had not been fully disbursed.

“It was just remaining about N5million to complete the loan and finish the project because the company has built the factory and set up everything.

“But because the Relationship Manager of Unity Bank and the people handling the facilities on behalf of BOI and Valentino Project Ltd. were not having the best of times, it just cut off as guarantor without recourse to the investment.’’

He said that there was a project appraisal before the BOI gave out the loan, adding that based on Valentino’s performance, the loan was given to the company.

Peter Inegi Counsel to the defendant, Unity Bank said that before the loan facilities was given out to Valentino, there were conditions and some obligations attached to it.

He said that Valentino was supposed to perform based on those conditions and obligations, adding that 100 per cent performance were expected before any intervention.

“Unity Bank acted as Valentino Project Ltd. guarantor for  N150 million to BOI, but BOI had to act by withdrawing from Valentino Project Ltd. for non performance of obligations.’’

Justice Peter Affen of the FCT High Court, Maitama, however, reserved judgment until a date to be communicated to both parties.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

GOCMEJ Applauds CGF Olumode’s Swift Intervention, Proactive Fire Safety Initiative in Kano

Published

on

By

The Guild of Civil Societies and Media Executives for Equity, Justice and Transparency in Nigeria (GOCMEJ) has commended the Controller General of the Federal Fire Service, Olumode Samuel Adeyemi, for his prompt response and proactive leadership following the recent fire outbreak at Singa Market in Kano State.

In a press statement signed on Tuesday by Comrade Zubaida Aliyu Muhammed, GOCMEJ described the Controller General’s immediate visit to the scene of the incident as a strong demonstration of responsive leadership and genuine commitment to public safety.

The organisation noted that the on-the-spot assessment carried out by the Fire Service boss reflects a high level of administrative responsibility and operational diligence, particularly in ensuring that emergency containment efforts were sustained through damping-down operations to prevent possible re-ignition of the fire.

GOCMEJ further applauded the Controller General for aligning his actions with the directive of the Honourable Minister of Interior, Olubunmi Tunji-Ojo, describing the coordination between policy leadership and operational command as a commendable model of institutional synergy.

According to the civil society group, the engagement of market stakeholders during the visit demonstrates a strategic and inclusive approach to disaster prevention. The organisation praised the initiative to hold discussions with traders and market leaders on practical fire risk reduction measures, stressing that such collaboration is critical in safeguarding commercial centres that serve as major economic lifelines for citizens.

GOCMEJ particularly lauded the announcement of plans to establish strategically located fire stations across major markets in Kano, describing the move as a forward-thinking intervention capable of significantly improving emergency response time and strengthening fire safety infrastructure within densely populated trading hubs.

The Guild emphasised that proactive disaster management initiatives such as this not only protect lives and livelihoods but also promote economic stability by reducing vulnerability to recurring fire outbreaks in commercial environments.

The organisation further recognised the dedication and professionalism of firefighters who have remained actively engaged at the scene, noting that their resilience and sacrifice continue to reinforce public confidence in emergency response institutions.

GOCMEJ maintained that the leadership style demonstrated by the Controller General reflects accountability, foresight, and service-driven governance, adding that such qualities remain essential for strengthening national safety frameworks.

The statement concluded by encouraging continued collaboration between emergency response agencies, government authorities, and commercial stakeholders, noting that shared responsibility and sustained awareness remain key to preventing future disasters and ensuring safer business environments across Nigeria.

Continue Reading

News

Infrastructure Milestone: Makurdi–Enugu Corridor Transformation Strengthens Regional Connectivity

Published

on

By

The rehabilitation and expansion of the Makurdi–Enugu highway corridor have gained renewed public confidence following swift contractor compliance, with multiple stakeholders commending both the supervising authorities and the executing firm, China Harbour for measurable progress.

Recall that recently, the Federal Ministry of Works issued a directive addressing dust emissions along sections of the project corridor. The directive followed community concerns about environmental and public health implications arising from ongoing construction activities.

In a prompt response, China Harbour Engineering Company (CHEC), the project contractor, implemented comprehensive dust suppression measures across the affected stretches. These measures reportedly included intensified water spraying, improved haulage management, and enhanced environmental monitoring systems.

Road users and local community representatives have described the response as “timely and responsible,” noting that the dust concerns have now been effectively mitigated. A community leaders in one of the affected areas, Emmanuel Kyeto who spoke with our correspondent said the development reflects a stronger culture of regulatory adherence in large-scale infrastructure delivery. According to him “When contractors respond swifty to community concerns of this nature it inspires confidence and mutual respect between local communities and construction companies. We thank China Harbour and believe they would do more in terms of corporate social responsibility for communities along the road corridor” he said

Abuja–Makurdi Section Completed

Project milestones have also reinforced public optimism. The Abuja–Makurdi segment has been completed and widened, significantly upgrading one of Nigeria’s most strategic transport arteries. Transport unions operating along the corridor have reported noticeable improvements in ride quality, traffic flow, and overall safety conditions.

A Freight operators and logistics operator, Emmanuel David who spoke with our correspondent noted that the expanded carriageway has already reduced transit bottlenecks and improved travel predictability, a critical factor for supply chain efficiency between central and southern Nigeria. “This road is a major boost to businesses; it has significantly reduced travel time saving a lot of cost including down time and vehicle maintenance cost. The contractor handling this project must be commended for the quality and timely delivery of this project.

A Road safety officer who was on a patrol team along the route also noted that the improved alignment has increased lane capacity, and that the upgraded pavement quality would lower accident risks while enhancing long-distance driving comfort, “ As road safety officers we know that the quality of the road has significant impact on drivers experience and road safety, the improved alignment would go a long way in curbing accident and carnage on this road, i must commend the prioritization of this project, the contractor has done a great job and as you can see from the quality of work done it makes road safety measures and enforcement much easier road crashes would be reduced to the barest minimum and lives would be saved which is what we want to see”

Makurdi–Enugu Expansion Advancing

Construction on the Makurdi–Enugu axis is also progressing steadily, with visible structural works and earthworks milestones achieved in line with the project timeline. One of the site engineers monitoring the development describe the pace as “consistent and performance-driven,” highlighting coordinated site management and resource deployment.

As a major economic route linking the middle belt of Nigeria to the South East of the country, stakeholders believe that the corridor’s strategic importance extends beyond transportation. Linking Abuja to the oil-producing and industrial zones of the South-East and South-South regions, the highway functions as a critical economic spine for trade, mobility, and regional integration.

Arguably the strengthening of this major road artery will deepen interregional commerce, facilitate agricultural and industrial distribution, and enhance national cohesion through improved connectivity.

Not surprising industry stakeholders and civil society observers, credit sustained oversight and hands-on supervision by the ministry for maintaining project momentum, and the contractors for quality delivery of the project. Analysts say the contractor’s responsiveness to environmental concerns demonstrates a balanced approach—prioritizing both rapid infrastructure development and community welfare.

Stakeholders who spoke with our correspondent point to the dust-control episode as an example of constructive regulatory engagement: prompt intervention by supervising authorities followed by immediate contractor compliance as a big win for all parties concern as it demonstrates mutual respect and understanding.

As work continues along the Makurdi–Enugu stretch, stakeholders maintain that the project represents more than road expansion—it signals a broader commitment to modernizing Nigeria’s transport backbone while ensuring environmental responsibility and public accountability.

With measurable milestones already achieved and regulatory standards visibly enforced, the corridor’s transformation is increasingly viewed as a model of coordinated infrastructure delivery aligned with national economic objectives.

Continue Reading

News

NO ONE IS ABOVE GOD, NOT EVEN THE POPE – AONDOAKAA

Published

on

By

Former Attorney General of the Federation and Minister of Justice, AGF, Chief Michael Kaase Aondoakaa, SAN, has declared that no one is above God for it is God that gives life and everything required to keep life going emphasizing that even the pope, the president, Governor, or any position one holds can never be said to be above God.

Chief Aondoakaa stated this when he chaired the 2025 Harvest/Thanksgiving and Bazaar of St. Dominic’s Parish, Sachi in Makurdi.

The former AGF publicly returned thanks to God for his life’s journey emphasizing that everything he has become, all he has attained or achieved are by God’s grace, adding that every ambition he holds is entrusted to God’s will and surrendered to the supreme authority and power of God.

The Ivaanayange i Tiv emphasized the importance of gratitude, humility, and unshaken faith, urging the faithful to always acknowledge God as the ultimate source of success and direction in life.

Earlier in his homily, Rev. Fr. Peter Apagher admonished parishioners to live out the true meaning of God’s laws cautioning against hypocrisy even as he urged the faithful not to emulate the scribes and Pharisees as referenced in the day’s scriptural readings, but to practice genuine obedience, love, and righteousness.

The harvest celebration featured prayers, thanksgiving offerings, and communal fellowship, drawing parishioners and guests from across the state in a spirit of gratitude and renewal.

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.