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Court Freezes ₦448m In Keystone Bank Debt Case.
The Federal High Court in Ikoyi, Lagos, has frozen assets and funds totaling ₦448,263,172.41 in a debt dispute involving Keystone Bank Limited and five defendants.....KINDLY READ THE FULL STORY HERE▶
Justice Chukwujekwu Aneke granted the order on March 26, 2026, following a request from the bank through its lawyer, Mofesomo Tayo-Oyetibo, SAN.
The court issued a Mareva injunction barring the defendants and anyone acting on their behalf from withdrawing, transferring, or handling the money, shares, dividends, or other financial instruments linked to the disputed amount in any Nigerian bank or financial institution. Banks were instructed to preserve any funds connected to the defendants and file affidavits within seven days showing account balances and statements.
Additionally, the defendants are prohibited from selling, transferring, or otherwise disposing of any property—movable or immovable, including future or conditional interests—equivalent to the value of the debt. Justice Aneke also allowed court documents to be served on two defendants via courier to their last known addresses. The next hearing is set for April 9, 2026.
The dispute stems from a ₦500 million overdraft facility granted to Relic Resources on March 28, 2023, with a one-year term at a 32 percent annual interest rate. The facility, initially secured with a $200,000 cash collateral and later backed by a mortgaged property in Itunu City, Epe, Lagos, was due on March 27, 2024. By October 31, 2024, ₦448,263,172.41 remained unpaid.
Court documents state that the bank alleged misuse of the funds by one defendant, redirected to two other companies. The borrower company had ceased operations and ignored repeated repayment requests between May and October 2025. Keystone Bank warned that the defendants might conceal or move assets, jeopardizing recovery if the court later ruled in the bank’s favor.
After reviewing the application, Justice Aneke approved the bank’s request and scheduled the case for mention on April 9.
Kaduna State Governor, Uba Sani, says the state has mapped out 22,435 hectares of degraded land for restoration under the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project using modern geospatial mapping technology.....KINDLY READ THE FULL STORY HERE▶
He said the initiative is part of efforts to strengthen climate resilience, tackle environmental degradation, and promote sustainable land use in the state.
Speaking at the ACReSAL mid-term review meeting in Kaduna through the Commissioner for Environment and Natural Resources, Abubakar Buba, the governor explained that the use of geospatial tools has made it possible to accurately identify affected areas for targeted intervention.
He added that the project is not only focused on land recovery but also on boosting agricultural output and improving livelihoods in affected communities.
Sani also noted that the state is supporting the programme with empowerment initiatives, including training over 500 women, youths, and school feeding vendors in biomass briquette production.
According to him, the effort is already helping to reduce dependence on firewood while creating alternative sources of income for beneficiaries.
President Tinubu has given full backing for the implementation of the ₦68.32 trillion 2026 budget after signing the Appropriation Bill passed by the National Assembly into law.....KINDLY READ THE FULL STORY HERE▶
He also approved an amendment extending the lifespan of the 2025 budget from March 31 to June 30, 2026, to ensure completion of ongoing capital projects nationwide.
Under the 2026 fiscal plan, ₦4.799 trillion is set aside for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent spending, while ₦32.2 trillion goes to capital projects—about half of the total budget.
The focus, according to the administration, is on infrastructure development, security, and growth-driven investments aimed at improving living standards.
Speaking on the development, presidential aide Bayo Onanuga said the extension of the 2025 budget will help ensure full use of allocated funds, especially for major ongoing projects.
Tinubu directed all ministries, departments, and agencies to ensure transparency, discipline, and value-for-money in implementing the budget, while praising the National Assembly for its swift passage of the bill.
He also reaffirmed his administration’s commitment to economic reforms, revenue growth, job creation, and social welfare improvements.
The Peoples Democratic Party (PDP) in Kwara State has described moves to prosecute former Senate President Bukola Saraki and former Governor Abdulfatah Ahmed over alleged culpable homicide as an attempt to reopen the 2018 Offa robbery tragedy for political purposes.....KINDLY READ THE FULL STORY HERE▶
In a statement on Friday, the party’s spokesperson, Olusegun Adewara, said the development is a disturbing and dangerous politicisation of a case they claim has already been addressed through judicial processes.
He warned against dragging the state into fresh tension, accusing the state government of attempting to revive old allegations for political advantage.
Adewara said the PDP would not remain silent while what he called “political narratives” are used to influence public perception around a tragic incident that claimed multiple lives in Offa in 2018.
He also urged residents, especially affected families, not to allow their pain to be used for political gains, insisting it is unjust to associate Saraki with the crime.
The party further alleged that the move is aimed at distracting attention from governance challenges in the state.
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