innosreport

(Nigeria) A Lagos High Court, Wednesday, warned that there will be consequences if anything happens to the over N500 million frozen Police fund lodged with the Zenith Bank Plc. Trial judge, Justice Olatunde Oshodi gave the warning at the hearing in the various applications by judgment debtors, garnishee and other interested party seeking to oppose compliance with the payment of N500m awarded to Mrs. Ebunoluwa Awosika, the widow of the slain banker, Modebayo Awosika, who was felled by the Police in Lekki, Lagos on October 1, 2008. Until the time he was killed, Mr. Awosika, then 39 was a seasoned banker, a Relationship Manager with the First Bank of Nigeria Plc and the breadwinner of his entire family.  Following the confirmation of Modebayo murder by a coroner's inquest, his widow commenced a fundamental rights action against the respondents at the Lagos High Court, wherein Justice Ebenezer Adebajo, now retired awarded damages against Inspector General of Police, Commissioner of

(Nigeria) The Nigerian government with its Cameroonian counterpart to fashion the best to deal with the security challenge posed to the two countries by the activities of Book Haram Islamic insurgents. Nigeria's Director Defence Information, Major General Chris Olukolade in statement after the meeting, said "In furtherance of various international contacts by Nigeria in the efforts to stamp out the scourge of terrorism in the sub-region, a bilateral defence meeting between Nigeria and Cameroun is scheduled to commence on Wednesday at the Defence Headquarters in Abuja. "The three-day meeting which is being hosted by Nigeria’s Chief of Defence Staff, Air Chief Marshal Alex Badeh will have in attendance his Cameroonian counterpart and his country’s military delegation. The forum which is a follow-up to previous international and regional meetings to foster a common ground in the fight against insurgency and terrorism is to fashion out ways of strengthening the existing wor

(Nigeria) The All Progressives Congress (APC) has slammed the Peoples Democratic Party, PDP-led Federal Government for its insulting and disingenuous explanation aimed at deceiving Nigerians over the US$9.3 million cash-for-arms deal that went awry in South Africa, saying everything about the deal is shady. APC  in a statement in Abuja on Tuesday by its National Publicity Secretary, Alhaji Lai Mohammed, said the deal violates the foreign currency laws of Nigeria and South Africa, violates Nigeria's Money Laundering law as well as the Public Procurement Act and makes a mess of the Federal Government's cashless policy. In addition, it said, all the circumstances surrounding the transaction were umbrageous, including the fact that the funds involved, though in cash, were neither declared before departure in Nigeria nor declared on arrival in South Africa. ''Based on these shady circumstances, one can safely conclude that the arms to be procured, if at all, were not mean

West Africa could face up to 10,000 new Ebola cases a week within two months, the World Health Organization warned Tuesday, adding that the death rate in the current outbreak has risen to 70 percent,  reports AP. WHO assistant director-general Dr. Bruce Aylward gave the grim figures during a news conference in Geneva. Previously, the agency had estimated the Ebola mortality rate at around 50 percent overall. In contrast, in events such as flu pandemics, the death rate is typically under 2 percent. Acknowledging that Ebola was "a high mortality disease," Aylward said the U.N. health agency was still focused on trying to get sick people isolated and provide treatment as early as possible. He told reporters if the world's response to the Ebola crisis isn't stepped up within 60 days, "a lot more people will die" and health workers will be stretched even further. Experts say the epidemic is doubling in size about every three weeks. WHO raised its Ebola death

(Nigeria) Shareholders of defunct Afribank Plc, Bank PHB Plc and Springbank Plc, on Tuesday, urged the Court of Appeal Lagos, to order their compensation following revocation of the banks' licences in 1999.  They are praying the court to overrule a Federal High Court judgment delivered by Justice Charles Archibong (then of the court ), which dismissed their originating summons.  According to them, the defunct banks' assets can not be transferred free of charge to another entity without compensation to the shareholders.  Respondents are: The Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC), Asset Management Corporation of Nigeria (AMCON), and the Securities and Exchange Commission (SEC), Also joined as respondents are: The Nigerian Stock Exchange (NSE) Mainstreet Bank (former Afribank), Keystone Bank Ltd (former Bank PHB) and Enterprise Bank Ltd (former Spring Bank).  The appellants, represented by Mr Boniface Okezie, Mr Adeyemi Kehinde and Mr Ade

 Israeli Foreign Minister Avigdor Liberman The resolution of the British lawmakers recognizing the Palestinian state is an obstacle towards peace, the Israeli Foreign Ministry said in a communique on Tuesday, reports Tass. “The premature international recognition is a dangerous signal for the Palestinian leaders that they can abandon the difficult decisions which both sides (Palestinians and Israelis) need to take, and this therefore undermines the chances towards reaching genuine peace,” the ministry says. On Monday, the House of Commons in a majority vote of 274-12 backed a motion, which says that "this House believes that the Government should recognize the state of Palestine alongside the state of Israel." On Monday, the House of Commons in a majority vote of 274-12 backed a motion, which says that "this House believes that the Government should recognize the state of Palestine alongside the state of Israel." The motion is non-binding and cannot change t

As many as 15 policemen were injured in clashes in front of the Verkhovna Rada /Ukrainian parliament/ building in central Kiev on Tuesday, adviser to the Ukrainian interior minister Anton Gerashchenko said, adding that police detained 50 rioters, reports Tass. “Fifteen police officers have been injured as a result of illegal activities of provokers. As many as 50 activists of the provocative actions near the Verkhovna Rada were detained. Police continues to detain /violators of public order/,” he wrote on his Facebook account. According to Kiev police, up to 8,000 people took part in the action. Controversial bill causes nationalist rally Riots started after the Verkhovna Rada refused to put on its agenda a bill recognizing the Ukrainian Insurgent Army (UIA) as a party fighting for Ukraine’s independence during WWII. Parliament speaker Olexandr Turchynov, in violation of the established procedures, made seven attempts to put this issue for voting and each time failed to score t