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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
Civil Society Coalition Urges Tinubu to Remove Senior Public Officer Over Alleged Misconduct
A coalition of civil society organisations under the umbrella of the Civil Society Alliance Against Corruption and Abuse of Office (CSAACAO) has called on President Bola Ahmed Tinubu to immediately remove Surveyor Akande Moruf Adetunji from public office over what it described as grave allegations of misconduct, abuse of office, and violations of public service ethics.
In an open letter jointly signed on Thursday in Abuja by the National Coordinator of CSAACAO, Comrade Gbenga Akande, and the National Secretary, Comrade Ishaya Abdullaziz, on behalf of 20 other civil society organisations, the coalition urged the President to order a comprehensive investigation into the allegations while emphasizing the need to protect the integrity of the public service.
According to the coalition, the allegations against the public officer include alleged professional misconduct, abuse of official authority, intimidation, misuse of office for personal interests, sponsorship of defamatory publications against another public officer, unethical conduct, media manipulation, and alleged administrative and financial irregularities during his tenure.
The group also alleged that Surveyor Adetunji is involved in an ongoing court matter and claimed that a bench warrant was reportedly issued for his arrest. It argued that, if confirmed, such circumstances would be incompatible with continued service in public office.
CSAACAO further alleged that the official, despite reportedly reaching the statutory retirement age, has refused to process his retirement by allegedly failing to submit the necessary retirement documents and withholding official records.
The coalition claimed that these actions, if established, could amount to violations of the Public Service Rules, the Pension Reform Act, and the Code of Conduct for Public Officers.
The coalition warned that allowing a public officer facing such allegations to remain in office could undermine public confidence in the administration’s anti-corruption agenda, weaken trust in the civil service disciplinary system, and create the impression that misconduct is tolerated.
While acknowledging the constitutional presumption of innocence, the coalition argued that public officers occupying sensitive positions should step aside whenever credible allegations arise pending the outcome of investigations.
Among its demands, CSAACAO urged President Tinubu to immediately remove Surveyor Adetunji from office in the public interest, direct a full-scale investigation into all allegations against him, mandate the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Nigeria Police Force to investigate the reported court matter and any related issues, and ensure that anyone found culpable is prosecuted in accordance with Nigerian law.
The letter was copied to the Secretary to the Government of the Federation, the Head of the Civil Service of the Federation, the Federal Civil Service Commission, and the ICPC.
As of the time of filing this report, Surveyor Akande Moruf Adetunji had not publicly responded to the allegations contained in the open letter, and the claims had not been independently verified. No official statement had also been issued by the Presidency regarding the petition.
News
Court stops APC, INEC from altering Benue APC primary winners
The Federal High Court in Abuja has ordered the All Progressives Congress (APC) and the Independent National Electoral Commission (INEC) to maintain the status quo in a dispute over the party’s candidates emerging from the Benue State APC primaries for the 2027 general election.
The order was made on Thursday by Justice Inyang Ekwo during proceedings in Suit No. FHC/ABJ/CS/1429/2026, filed by Engr. Sesugh Akaagba and other aggrieved APC candidates from Benue State against the APC and INEC.
The plaintiffs had, through an ex parte motion filed on July 5, 2026, sought six interim reliefs, including an order restraining the APC from substituting its validly nominated candidates in Benue State through its June 29, 2026 correspondence, or any subsequent communication, to INEC, pending determination of the substantive suit.
They also sought an order compelling the APC to immediately transmit to INEC the names of candidates validly nominated during the primaries monitored by the electoral commission.
When the matter first came up on July 8, 2026, the court declined to grant the interim application immediately, directing both APC and INEC to appear and respond before any decision was taken. The matter was adjourned to July 16.
At Thursday’s proceedings, counsel representing the APC and INEC were present in court, while the plaintiffs were represented by Mohammed Ndarani, SAN, alongside his legal team.
In his ruling, Justice Ekwo held that since issues had been joined by the parties particularly with INEC now before the court, the defendants were required by law to preserve the subject matter of the litigation pending determination of the substantive suit.
When counsel to the plaintiffs urged the court to caution APC and INEC against taking any further action that could affect the disputed list of candidates, the judge responded that it was “not a matter of advice but of law,” stressing that the defendants were bound to maintain the status quo.
The court consequently restrained APC and INEC from taking any action capable of altering the disputed list of candidates pending the hearing and determination of the substantive suit.
The defendants did not object to the restraining order.
At the commencement of proceedings, the court noted that all parties had voluntarily submitted to its jurisdiction by duly filing and exchanging their respective processes.
It held that there was no procedural or jurisdictional impediment to the expeditious determination of the substantive action, and directed that the matter be heard without further delay.
In furtherance of the objective of preserving the res and safeguarding the efficacy of the judicial process, the court ordered all parties to maintain the status quo pending the hearing and final determination of the substantive suit, restraining any act or omission capable of prejudicing the rights of the parties or rendering the proceedings nugatory.
The court further directed that INEC be served forthwith with the originating and all consequential processes.
The effect of the subsisting order is that INEC is restrained from tampering with the existing list of candidates pending final determination of the suit, and from receiving, recognising, or acting upon any purported substituted list of National Assembly candidates from Benue State submitted by the APC.
The matter was adjourned to July 21, 2026, for hearing of the substantive suit.
News
Goodluck Jonathan’s Family Celebrates Son’s Graduation in UK
Former President Goodluck Ebele Jonathan and former First Lady Patience Ibifaka Jonathan recently celebrated a significant family milestone as they attended the graduation ceremony of their son, Ariara Goodluck Jonathan, at Manchester Metropolitan University in the United Kingdom.
The proud parents joined family members and well-wishers to witness Ariara receive his degree, marking the successful completion of his academic programme. The occasion was filled with joy as the Jonathan family commemorated the achievement, highlighting the importance they place on education and personal development.
The graduation ceremony attracted warm congratulatory messages from friends, associates, and admirers, who wished the graduate continued success in his future endeavours.
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