A Lagos State High Court has reportedly granted interim Mareva injunctions in favour of United Bank for Africa Plc (UBA) against Swiss-based energy trading company Vitol SA and four other shipping companies over a disputed $242 million petroleum products transaction.....KINDLY READ THE FULL STORY HERE▶

reports that UBA accused Vitol of wrongfully releasing petroleum cargoes that were consigned to the bank’s order in the relevant bills of lading.

During proceedings, UBA’s lead counsel, Bode Olanipekun, SAN, urged the court to grant interim preservative orders against Vitol and the other shipping companies.

In its ruling, the presiding judge, Justice K. A. Jose, granted three prayers contained in UBA’s application, including requests to prevent the dissipation of assets and restrict dealings with funds up to the disputed amount. However, the judge specified that the orders applied only to the second respondent.

“Prayers 1–3 are granted as prayed against the 2nd Respondent only,” the judge ruled.

The application was filed pursuant to Order 43 Rule 1 of the High Court of Lagos State (Civil Procedure) Rules 2019 and the Lagos State High Court Practice Direction No. 2 of 2019.

In the substantive proceedings, UBA intends to argue that Vitol SA and the owners of the vessels involved are liable for alleged conversion, misrepresentation and negligence arising from the failure to deliver the petroleum products.

The bank also listed 34 financial institutions and public agencies, including commercial banks, merchant banks, microfinance banks, the Nigerian Ports Authority and the Nigeria Customs Service, in connection with the application.

In an affidavit supporting the application, UBA’s Group Head of Recoveries and Remedial Management, Anthony Chilaka, explained that the bank had issued a letter of credit in favour of Vitol SA to facilitate a petroleum products transaction.

According to the affidavit, the cargo was transported to Nigeria, after which the vessels’ masters issued several bills of lading.

UBA alleged that Vitol subsequently endorsed the bills of lading in the bank’s favour and handed over the original documents to it.

The bank maintained that the endorsement entitled it to take possession of the cargo once the voyage had been completed.

However, Chilaka stated that UBA had yet to receive the gasoil despite the completion of the voyage.

“The applicant has not been given possession of the gasoil despite completion of the voyage,” the affidavit stated.

UBA further alleged that the cargo was instead diverted for the use of another party, arguing that the failure to deliver the products amounted to conversion and negligence.

The bank maintained that the respondents had obligations arising from the transaction and the endorsement of the shipping documents, which it alleged they failed to fulfil.

The Director-General of the Africa Centres for Disease Control and Prevention (Africa CDC), Dr Jean Kaseya, has said the source of Nigeria’s Ebola case remains unknown.....KINDLY READ THE FULL STORY HERE▶

According to reports, Kaseya disclosed this during an appearance on Channels Television’s The Morning Brief on Thursday.

He explained that although the patient travelled to Nigeria from Uganda, there is no confirmed evidence that she contracted the virus in the East African country.

Kaseya said investigations were ongoing to establish whether the infection originated in Kampala, Uganda, or another location.

“What we know is that the lady came from Uganda, but what we don’t know is whether it is a transmission from Uganda, Kampala, or a transmission that came from another place. When we have answers to these questions, I will go back to Uganda to discuss the issue.

“From what I know now, Uganda has declared the end of the outbreak,” he said.

The Africa CDC chief revealed that the agency was engaging with authorities in Nigeria, Uganda and the Democratic Republic of the Congo (DRC) to determine the source of the infection and prevent the situation from escalating into a diplomatic dispute.

He added that the patient, who was born in Nigeria and resides in Abuja, arrived in the Federal Capital Territory with her husband on October 3 after spending several days in Uganda.

Meanwhile, Uganda’s Ministry of Health had earlier stated that the Nigerian national travelled to eastern DRC for business before passing through Uganda on her way to Nigeria.

The ministry stressed that the patient’s transit through Uganda did not necessarily mean she contracted the virus there.

The convener of The Alternative Movement, Segun Showunmi, has reflected on the death of late businessman and politician, Moshood Kashimawo Olawale Abiola, saying the tragedy left a lasting emotional scar on him.....KINDLY READ THE FULL STORY HERE▶

Showunmi said the circumstances surrounding Abiola’s death and the struggle to actualise the June 12, 1993, presidential election mandate had profoundly shaped his convictions and understanding of Nigeria’s democratic journey.

According to reports, the Peoples Democratic Party (PDP) chieftain made the remarks in a statement issued on Thursday.

He maintained that he would neither downplay the sacrifices made by Abiola nor allow his comments to be misinterpreted or taken out of context.

Showunmi said he had no need to prove his commitment to Nigeria, stressing that he understood the sacrifices and challenges associated with the country’s journey towards democracy.

He stated, “The scar in my heart from the loss of Chief Moshood Kashimawo Olawale Abiola has not fully healed. His death and the circumstances surrounding the struggle for the actualisation of the June 12 mandate left an indelible mark on my life.

“I have therefore neither anything to prove about my sacrifices for Nigeria nor any reason to pretend that I do not understand the cost of the democratic journey we have travelled. I will neither make light of MKO Abiola’s grave sacrifice nor allow anyone to distort my words or misrepresent my intentions.”

The PDP chieftain also clarified his earlier comments concerning politicians threatening to release unverified election results, warning that such actions could trigger unrest and create legal complications.

According to him, no political contestant should be encouraged to take steps that could violate the law or threaten national stability.

Showunmi explained that his reference to events in 1992 was intended to demonstrate how political situations could escalate when caution, restraint and respect for the law were abandoned.

He insisted that his position remained unchanged, describing his intervention as a warning about the possible consequences of reckless political actions rather than an endorsement of them.

He added that he would not allow individuals he described as reactionary forces to distort his advice or portray his intentions as something different from what he meant.