The last is yet to be heard in the case between Eleme petrochemicals co-operatives investment and credit society limited and the Economic financial crimes commission(EFCC) ,as the later (EFCC) through harassment and intimidation has continued to infringe on the right of the members of the co-operative by denying them access to their funds in first Bank Nigeria Ltd , an action that goes against a subsisting court order.
Hon. Justice N.E Maha had on 15th day of January Ordered that restriction placed on the account of Eleme petrochemicals co-operatives and investment and credit society be lifted.
An order First Bank Nigeria plc has refused to honour , citing treats from the EFCC. The bank is demanding that the co-operative signs an indemnity against claims by the Efcc before obliging to honour its obligations to the cooperative a demand that is contrary to the contract between a bank and its customer and against all extant rules of banking.
While the co-operative have written to the First bank plc to explain if there is any court Order served on them by the EFCC restricting it from honoring its obligations to the cooperative the bank has not produced any such order. but could only refer to harassment from EFCC.
EFCC had sort to pervert the course of justice from the beginning having joined issues with the co-operatives in a suit to enforce the fundamental rights of the shareholders of the cooperative but surreptitiously went behind to another court of co-ordinate jurisdiction to obtain an interim order freezing the account of the co-operatives but all this actions failed as the Court after discovering the attempted sharp practice of EFCC ,granted an order lifting the interim restriction on the said account.
having failed in that regards, the Efcc have resorted to intimidating First Bank PLC to act against the court Order which allows the co-operatives to operate their account without any restriction.
The First Bank Nigeria PLC Continues to act in flagrant disregards to the court order. Meanwhile the Efcc have filed an appeal against the order lifting the restrictions placed on the cooperatives account, no order of stay of execution has not been granted.
it is indeed a long walk to justice for staff of Indoroma Eleme Petrochemicals ltd as the battle for the ownership of their shares continues. in February 26,2009 the federal government through the National Council on Privatization had approved the sale of 10% of its equity shares in Indorama Eleme Petrochemicals ltd, Port Harcourt ,Rivers State to the host community and interested staff of Indorama Eleme Petrochemicals ltd.
The 10% equity shares was shared as 7.5% was allotted to the host community while the remaining 2.5% was allotted to the Staff of Indoroma Eleme Petrochemicals.
Interested Staff came together under Eleme petrochemical co-operatives in compliance to the federal government directive that a special purpose vehicle be formed where all members will belong to enable them buy the shares.
Problem began in 2013 when 10 staffs who initially subscribed to the purchase of the 2.5 equity shares had their jobs terminated from the employment of Indorama Eleme Petrochemicals.
Indoroma Petrochemicals since then began a legal battle as to whether the laid off staff can continue to enjoy the dividends since they were not longer staff in the company and in so doing seeks to replace laid off staff with new recruited staff.
When the shareholding became an issue the laid of staff approached the River State Ministry of Commerce and Industry to arbitrate between it and the cooperative, the Ministry gave an Arbitral Award in favor of the laid off staff and consequently the exited staffs of the co-operative ,approached the federal high court to enforce the arbitral award and as required by law it was granted and the award became a judgment of the Federal High Court.
The newly recruited staff been instigated by their employers Indoroma Eleme Petrochemicals Company limited approached The National Industrial court stating that the arbitral award was illegally procured ,when the right thing to do was to appeal the Federal High Court judgement, the industrial court in striking the case out stated that it can not sit on an appeal over a matter that has been decided by a court of co-ordinate jurisdiction. The newly recruited staff have filed an Appeal over the decision of the Industrial court.
It is to be noted that the Efcc started to investigate the ownership of the shares of the cooperative after the cases at the Federal high court and the Industrial Court had been decided.
The cases pending in various Courts over the ownership of the shares of Indorama was triggered by the BPE which was a party sued in case at the Industrial court, when it petitioned the EFCC over the matter at the instigation of the newly recruited staff of the Indorama and Indorama itself.
The efcc has despite the judgment of the Federal High Court which confirmed the shareholding of the exited staff has continued to intimidate the exited staff and the cooperative this also despite the orders of justice Taiwo .O .Taiwo of the Federal high court in Suit FHC/ABJ/SC/1222/2020 granting an Order stopping the EFCC from arresting, inviting ,detaining and prosecuting or inquiring into the acquisition of shares of Indoroma Petrochemicals ltd.
Agric Minister Shield’s Factional AFAN Leader From Police Invitation
The minister of Agriculture and Rural Development, Alhaji Sabo Nanono, on Friday, 17th June, 2021 at the ICC (International Conference Centre), in Abuja prevented policemen on duty from taking factional leader of the All Farmers Association of Nigeria (AFAN) Mr Farouk Rabiu for questioning on fraud related matters.
According to reliable sources and eye witnesses at the scene which was the venue of the 2021, Council on Agriculture, the police were there to invite Farouk to Force headquarters following a petition against him for acts that bordered on criminality.
Recently a federal high court sitting in Abuja had cautioned the renegade group led by Farouk through their lawyer, on Wednesday,15/2/2021, against parading themselves as leaders of AFAN until the matter is determined in court.
Farouk had been accused of defrauding investors using the name of AFAN Kano branch which he illegally registered, a matter which had been brought before the Corporate Affairs Commission, who revoked the registration.
However, Farouk has been continuously recognised as the leader of AFAN, by the Minister who hails from the same state with him despite several petitions from the Arc Kabir Ibrahim led executive.
The minister’s actions in siding with Farouk despite a case in court to resolve the leadership tussle of AFAN, has been allegedly linked to the minister’s shameful removal as chairman of AFAN Kano, long before he became appointed minister.
Witnesses at the scene stated that the minister after frantic efforts to get the Inspector General on phone to call off his men failed, resorted to giving an unhindered exit to Farouk in his official car, tantamount to obstruction of justice, much to the chagrin of the police officers.
A reliable source further disclosed that the policemen declined to follow the minister to his office.
Three Soldiers Injured as Troops Kill ISWAP Terrorists in Borno
Troops of the Nigerian Army under the Operation Hadin Kai have killed several ISWAP Terrorists in Dikwa town, Borno State.
According to a statement issued on Wednesday by the Director Army Public Relations, Brigadier General Mohammed Yerima, the gallant troops decisively dealt with the terrorists who were attempting to infiltrate the town on Tuesday.
The terrorist elements were said to have mounted five gun trucks, others mounted motorcycles, while others moved by foot.
They were, however, met with superior fire power by troops in conjunction with air bombardment by Air Task Force.
“The marauding terrorists were thoroughly vanquished forcing them to withdraw in high state of confusion abandoning their truck, guns and ammunition,” the statement read.
“During the encounter, six members of the terrorists groups were neutralized, several others were severely injured while the survivors withdrew in total disarray leaving behind their deceased colleagues”.
Three soldiers, however, sustained various degrees of injuries but have now been stabilised.
Items recovered during the encounter included one gun truck, eight AK 47 rifles, 40 rounds of 7.62mm Special, 39 special ammo, three motorcycles and six magazines.
To mop up the area, troops conducted exploitation in the early hours of Wednesday in conjunction with the Civilian Joint Task Force and hunters along the terrorists’ withdrawal routes and recovered 90 rounds of 7.62 mm x 54 on links belonging to the fleeing terrorists.
Meanwhile, the Chief of Army Staff (COAS), Major General Faruk Yahaya, has commended the gallant troops over the feat and charged them to remain resolute and steadfast.
He urged them to maintain the tempo in order to ensure total obliteration of terrorist groups within the North East region.
Onion Marketers Threaten to Stop Supply to Southern Nigeria
The Onion Producers and Marketers Association of Nigeria has threatened to stop the supply of onions down to the South from June 7, 2021.
The group said it would carry out the threat if the government fails to compensate its members who have suffered losses in recent times following attacks in some parts of the country.
President of the association, Aliyu Umar, made this known to journalists at a press briefing on Sunday in Sokoto State.
He explained that the government under a committee led by the Kogi State Governor Yahaya Bello had promised to compensate their members, many of whom suffered huge losses in Abia, Imo and Oyo States during the #EndSARS and Shasha market crisis.
However, according to him, the promise has not been kept and the members have reportedly lost over 4 billion naira.
“We are calling on the state and Federal Government to restore law and order in the state, and we are calling on the good people of the southern part of Nigeria to live with the Hausa community in peace as we are only there for our lawful businesses,” Umar said.
“We also call on state governments to collaborate with fed govt to set up a committee to investigate the incident that led to the loss of lives and property of the Onion Association members.
“Furthermore, if the government fails to adhere to what we are saying, we are shutting the supply of onion to the entire south by Monday the 7th of June 2021”.
In recent times, the price of Onions skyrocketed from just about ₦20,000 to nearly a hundred thousand, in less than a year – a situation which quickly gave it the reputation of ‘new gold’.
While the price hike could not be understood by many, some traders have attributed the increment to seasonal fluctuations, a general increase in prices of fertilizers among other items, strike actions as well as insecurity arising from the #EndSARS protests.
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