LAGOS POLICE SPOKESMAN

Court halts takeover bid for Union Bank.

A Federal High Court sitting in Ikeja, Lagos on Wednesday stopped the proposed acquisition of the Union Bank of Nigeria Plc by a fresh core investor, Messrs African Capital Alliance Consortium. Justice Steven Adah granted an interim order to the plaintiff, Union Bank of Nigeria Pensioners Association after listening to the motion ex-parte filed by their counsel, Oludare Falana. The motion ex-parte was supported by a seven-paragraph affidavit deposed to by one Olalekan Oganla ,who among others averred that the plaintiff was a shareholder and a member of the defendant having 1, 200, 000 units of its shares. He averred that the defendant had concluded arrangement to invite Messrs African Capital Alliance Consortium to invest the sum of $750 million in the defendant, without first offering it to the plaintiff and other shareholders. The deponent further averred that it had forwarded a letter to the Governor of Central Bank of Nigeria Lamido Sanusi, demanding clarification on the issue of recapitalization. The CBN, NAN recalls, had, however, in a letter dated Oct. 7, 2010, denied any involvement in the recapitalization of banks, including the defendant, and further stated that it was an exclusive matter for the bank’s board and shareholders. According to the deponent, the memorandum and article of association of the defendant expressly stipulates the manner in which its share capital may be altered. Arguing the motion, Falana urged the court to restrain the defendant from going ahead with its intention to invite Messrs African Capital Alliance Consortium to invest a sum of $750 million, which would make it the new core investor in the bank. He argued that the defendant had failed to comply with the extant provisions of its Memorandum and Article of Association, which clearly stipulated the process and procedure under which third party investors could be invited to come and invest in the bank. According to him, the plaintiff as of right, ought to have been notified and invited to come and invest in the defendant as stipulated in its Memorandum and Article of Association before any third party could be offered such opportunity. He contended that it was only when and if the plaintiff and other existing shareholders wave their rights to invest that such opportunity could be extended to a third party. Falana further drew the attention of the court to the defendant’s last annual general meeting held in December in Maiduguri, Borno State. He alleged that the issue of recapitalization was never brought to the attention of the shareholders, contrary to the provisions of its Memorandum and Article of Association. ............................................

Sales girls docked for stealing goods worth N500,000. Two sales girls Felicia Moses and Rebecca Jacob appeared before a Surulere Magistrates’ Court, Lagos for allegedly stealing goods worth N233, 000 and N300, 000 respectively from their bosses. Moses, 21, was docked on Wednesday for stealing 18 bottles of perfumes worth N233, 000 belonging to her boss, Fadekemi Odunsanya. She is facing a count charge of stealing before Magistrate Ari Niki-Tobi, but pleaded not guilty. The Prosecutor, Cpl. Samuel Ishola told the court that the accused did steal the perfumes on April 11, at Shoprite Mall, Adeniran Ogunsanya, Surulere in Lagos. He said the offence contravened Section 390 (9) of the Criminal Code, Laws of Lagos State. Niki-Tobi, however, granted the accused bail in the sum of N20, 000 with two sureties in like sum and adjourned the case till May 6, for further hearing. Also, Jacob, 20, was charged to court for allegedly stealing clothes and shoes worth N300, 000 belonging to her boss. She is also facing trial on a count charge of stealing before Magistrate Ari Niki-Tobi , but pleaded not guilty. Niki-Tobi granted her N50, 000 bail with two sureties in like sum and adjourned the case till May 30, for further hearing.

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Septuagenarian remanded in prison over theft of N536,000 A septuagenarian, Godwin Effiong was on Wednesday remanded at Ikoyi Prison, Lagos, for allegedly stealing N536, 000. The 75-year-old security man, who is facing a one count charge of stealing at a Surulere Magistrates’ Court, is to remain behind bars till April 15 pending ruling on his bail application. The accused, however, pleaded not guilty to the charge. Effiong, according to the prosecution, allegedly stole the N536, 000, property of a microfinance bank. Cpl. Samuel Ishola told the court that a staff of the bank, Olusegun Banjo, had left the money with the accused, a guard at a nearby company to avoid being raided by some hoodlums in the area. Ishola said the offence which was committed on Feb. 8, 2010 at Orile-Iganmu, a Lagos suburb, contravened Section 390 of the Criminal Code, Laws of Lagos State. Magistrate Ari Niki-Tobi adjourned the case till April 15 for further hearing.

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Court continues trial of EFCC officer June 7 . An Ikeja High Court will on June 7 continue the trial of an official of the Economic and Financial Crimes Commission (EFCC), Davis Ibrahim charged with a N55,000 fraud. Justice Joseph Oyewole adjourned the trial on Wednesday to enable the prosecution to call more witnesses. Ibrahim, an administrative officer of the EFCC, is standing trial along with one Somorin Olusegun, a GSM repairer. They were accused of defrauding one Mrs Augusta Eleshin of the sum on Aug.16, 2008. The accused, who are being prosecuted by the EFCC, however, pleaded not guilty during their arraignment. A prosecution witness, Efam Okim from the EFCC, testified on Wednesday that telephone records received by the anti-graft agency from three telecommunications firms implicated the two accused in the fraud. Okim was being cross-examined by Mr Nojim Tairu, counsel to Olusegun. Okim said the duo admitted having telephone conversations with their victim. He said A telephone call of Olusegun was analysed and it was ascertained that there was communication between him and the complainant, prior to his arrest.” Ibrahim and Olusegun are facing a seven-count charge of conspiracy, obtaining money by false pretence, forgery and tendering of false documents. EFCC counsel, Ben Ubi, had said the duo defrauded Eleshin under the pretence that the sum was to compromise investigation of a petition purportedly written against her husband, Saka Odofin.

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Ex-police officer docked for failure to produce surety in court A retired police officer, Abiodun Sanni, who stood as surety for an accused, has been charged before an Igbosere Chief Magistrates' Court for failure to produce him in court. Sanni had in December 2010 stood as surety for one Ojukwu Chukwonye and promised to produce him at Alagbon police station anytime his presence was required. Chuwonye was charged for allegedly destroying property belonging to one Dele Ajiboye in March 2010. Sanni, however, pleaded not guilty to the charge and was granted bail in the sum of N50,000 with two sureties in like sum. The offence is punishable under Section 26(1) of the Criminal Code, Laws of Lagos State 2003. Chief Magistrate Folake Davies-Abegunde adjourned the case till Friday for hearing.

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I am not the biological father of our child, man tells court A Lagos-based businessman, Gokay Oludare on Wednesday stunned an Ikeja High Court when he told the court that he was not the biological father of his three-year-old son. Oludare had approached the court presided over by Justice Joseph Oyewole, seeking the dissolution of his marriage to Felicia on the grounds that the paternity of the only offspring of the union was still in doubt. The 42-year-old printer told the court that he married Felicia on July 26, 2007 at the Ikeja Marriage Registry in Lagos. He claimed that he had reservations about the paternity of the child even before the marriage as he felt that his wife was lying to him. Oludare said his reservation led to a DNA test which revealed that he was not the biological father of the child. He, however, told the court that the dissolution of the marriage to his 31-year-old wife would not stop him from taking care of the child. The matter has been adjourned till May 31 for cross examination and defense.