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Court Fixes Ruling Date As Petrocam, Zenith Bank Clash Over ₦9 Billion Debt.

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Court Schedules April 30 Ruling In Petrocam vs Zenith Bank ₦9 Billion Account Freeze Dispute....KINDLY READ THE FULL STORY HERE▶

Justice Chukwujekwu Aneke of the Federal High Court, Ikoyi, Lagos, has slated April 30, 2026, to deliver a ruling on Petrocam Trading Nigeria Ltd’s request to lift an interim order freezing its bank accounts over an alleged ₦9.05 billion debt claimed by Zenith Bank Plc.

The freeze, issued in Suit No: FHC/L/CS/393/2026 following an ex parte application by Zenith Bank, aims to secure funds purportedly owed by Petrocam and its principal, Patrick Ilo, as of May 31, 2025.

At Thursday’s resumed hearing, Petrocam’s legal team, including Gboyega Oyewole (SAN), S. Isaac John (SAN), Kolawole Salami, and Ademola Adefolaju, urged the court to discharge the March 3, 2026, interim injunction, arguing it was obtained without full disclosure and has severely disrupted the company’s operations.

Petrocam Denies Debt
Affidavit evidence from the company’s Head of Trade, Sunmola Omolara, asserts that Petrocam is not indebted to Zenith Bank. The company claims all obligations under a 2014 import finance facility were settled, with over ₦7.4 billion in petroleum sales proceeds remitted to the bank. Major oil firms, including Total Nigeria Plc and Oando Plc, were involved in the payments.

Petrocam stated that any temporary financing gaps were due to delays by the Federal Government in servicing Sovereign Debt Notes, with all obligations ultimately cleared between 2019 and 2020. Interest on the short-term facility was reportedly waived, with the Debt Management Office overseeing payments.

The company also alleges Zenith Bank failed to comply with a Central Bank of Nigeria directive mandating a 100% interest waiver on subsidy-related debts, unlike other banks, and ignored regulatory instructions to refund excess charges.

Letter of Non-Indebtedness Contradicts Claim
Petrocam submitted a December 16, 2024, Letter of Non-Indebtedness from Zenith Bank confirming the company’s account was in credit, challenging the bank’s ₦9 billion claim. The defendants further argued that no proper demand notice was served before the suit, describing the June 2025 demand letter as misdirected and an afterthought.

Principal Denies Personal Liability
Patrick Ilo, the second defendant, seeks to have his name removed from the suit, denying any personal guarantee or involvement beyond his role as Petrocam’s agent. He refutes allegations of fraud or fund diversion.

Petrocam’s legal team maintained that the injunction was improperly granted, with no serious issue for trial and a balance of convenience favouring the company, which is facing operational paralysis. They argued that Zenith Bank could be compensated through damages if it ultimately succeeds.

Zenith Bank Opposes Application
Zenith Bank’s counsel, Ajibola Aribisala (SAN), urged the court to uphold the freezing order, stressing the need to protect the disputed funds and maintain the bank’s ability to recover the alleged debt.

After hearing submissions from both sides, Justice Aneke adjourned the case for ruling on April 30, 2026.

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“The Truth Finally Out: How Peter Obi Shocked Critics By Leaving ₦86.6 Billion Behind In Anambra!”

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Oseloka Obaze, a former Secretary to the Anambra State Government, has stated that former governor Peter Obi left ₦86.6 billion in the state treasury when he handed over power in 2014. Obaze, who served under Obi from 2006 to 2014, made this revelation in a post on X amid ongoing controversies regarding the financial records inherited by successive administrations.....KINDLY READ THE FULL STORY HERE▶

Obaze noted that he was personally present on March 17, 2014, when Obi officially handed over financial documents and the Handover Report to his successor, Willie Obiano. According to him, Obiano received and signed an acknowledgment copy of the letter, which included certified bank statements detailing the state’s assets and liabilities.

Past Debates and Public Corroboration

Recalling the 2017 Anambra governorship debate organized by Channels Television, Obaze mentioned that he challenged Obiano—a certified accountant and auditor—on national television for later expressing reservations about the funds after formally signing off on the handover documents. Following this, Obiano publicly acknowledged that certain funds were left behind, though he questioned the rationale of saving money instead of executing projects.

Obaze also referenced remarks from former Taraba State Governor Darius Ishaku, noting that Obiano once told the Nigerian Press Corps that Obi left substantial funds used to finance the construction of the Anambra Airport at Umueri. Additionally, he cited comments from Abia State Governor Alex Otti, a former banker, as further public validation of the financial legacy.

Expressing confusion over why the records remain a subject of dispute under the current administration, Obaze concluded: “If Governor Obiano… would eventually acknowledge, implicitly and explicit, that Governor Peter Obi indeed left the stipulated funds; a fact that was also publicly corroborated by Governor Alex Otti… what then, one may ask, is the beef and grouse of the incumbent Anambra State Government?”

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“The Internet Never Forgets: How An 11-Year-Old Tweet Cost Blaqbonez A Major Young Jonn Feature”

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Music producer-turned-singer Young Jonn turned down a collaboration offer from rapper Blaqbonez after unearthing a resurfaced 2015 post where the rapper stated a preference for DJ Coublon over him.....KINDLY READ THE FULL STORY HERE▶

The exchange began when Young Jonn posted on social media: “I need like 5 bad friends way we go dey move in bulk!”

Blaqbonez quickly expressed interest in linking up, replying, “Oya, make we dey together, sing as one.”

Instead of accepting, Young Jonn posted a screenshot of the old tweet showing Blaqbonez’s historical preference and clapped back: “Go sing as one with Coublon.”

In his defense, Blaqbonez denied writing the post himself, claiming it was the work of his social media handler back in 2015.

Why Peter Okoye Changed His Birthday Away From Twin Brother Paul

In other entertainment news, Nigerian singer Peter Okoye has explained his decision to shift his birthday celebration from November 18 to November 30.

Speaking on the Capital XTRA Podcast, Peter revealed that his shared birthday with his twin brother, Paul, had become one of the worst days of his life over the past 13 years due to toxic family dynamics and tension.

He alleged that visitors would frequently go to Paul’s house to gossip about him before visiting him, making the shared occasion deeply uncomfortable. “I wish I could change it on my documents and passport,” Peter stated.

This development highlights the ongoing strain between the twin brothers, who initially split in 2017, briefly reunited in 2021, and parted ways again in 2024.

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“World Cup Panic: NFF Fires Back At Reports Claiming Falconets Refused To Train Over Unpaid Bonuses!”

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The Nigeria Football Federation (NFF) has strongly refuted claims that the Falconets planned to boycott training ahead of their 2026 FIFA U-20 Women’s World Cup quarter-final match against Colombia. While rumors suggested players were considering a training strike, the NFF dismissed the reports as entirely false and affirmed the team’s full focus.....KINDLY READ THE FULL STORY HERE▶

  • “Reports in a section of the media that the Falconets are planning to boycott training are an absolute falsehood,” the NFF stated.

  • “The girls are now heading to training for their last session before tomorrow’s match against Colombia.”

The Falconets advanced to the quarter-finals following a dominant 3-0 victory over England in the Round of 16. They are set to face Colombia at Stadion Miejski ŁKS in Łódź, with a semi-final spot on the line.

Squad Brilliance and Super Falcons Prospects

Reflecting on the tournament, head coach Moses Aduku expressed confidence that several players possess the talent to eventually transition into the senior national team, the Super Falcons.

Key performances have propelled Nigeria’s run:

  • Captain Christianah Uzoma delivered a crucial performance against England, saving a 33rd-minute penalty by Rachel Maltby to secure the team’s place in the last eight.

  • Winner Onajite David and Ramotalahi Kareem have spearheaded the attack, netting three goals each.

  • Janet Akekoromowei, Tosin Rafiu, and Rebecca Adegbemile have each contributed two goals to the campaign.

Emphasizing the importance of the tournament for player development, Aduku told FIFA, “I think the girls are doing well. We need to do more. There is going to be a transition to the senior national team from this junior side. So they really need to apply themselves.”

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