Tag: Court ruling

featured Policy and Regulations

Court voids National Assembly’s ₦110bn vehicles, allowances spending

The Federal High Court sitting in Lagos has declared unlawful the National Assembly’s controversial N110 billion vehicle procurement and allowance schemes, ruling that the expenditure of N40 billion on 465 vehicles for lawmakers and N70 billion in support allowances for newly elected members breached procurement laws, constitutional obligations and the public trust. The court also […]

News

Court orders forfeiture of ₦2bn assets linked to bank staff

The Federal High Court in Abuja has ordered the final forfeiture of assets worth N2 billion linked to a financial sector staff member, Alonge Opeyemi Yetunde and others. This was disclosed in a statement issued on Thursday signed by Anthony Okon Placid, Force Public Relations Officer, Force Headquarters, Abuja. The Nigeria Police Force, through the […]

News

Court freezes oil firm’s accounts over N3.17bn debt

Justice Akintayo Aluko of a Federal High Court, Lagos, has issued an interim order freezing the bank accounts of Plural Oil Marketing Limited and two of its directors over an alleged indebtedness of N3.17 billion and $835,486.76 owed to Providus Bank Limited. The order was granted on October 7, 2025. The order followed an ex […]

Economy featured

Supreme Court halts CBN from banning old naira

Juliet Buna   The Supreme Court on Wednesday temporarily halted the move by the Federal Government to ban the use of the old naira notes from February 10, 2023.   According to The PUNCH, a seven-member panel led by Justice John Okoro, halted the move of the federal government in a ruling in an exparte […]

News Oil and Gas

Court extends Oando’s minority share acquisition deadline

Oando Plc has been granted a 90-day court-ordered extension to create and file the Scheme of Arrangement Document for the acquisition of shareholders’ minority shareholding. This was contained in a statement released on Thursday which also revealed that Venus Construction Company Limited, one of Oando’s minority shareholders, had petitioned the court to order Ocean and […]