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The Federal High Court in Ikoyi has slammed the brakes on Shoprite’s directors, barring them from selling any shares or assets until a N1.76 billion judgment debt is fully paid.

Justice Ambrose Lewis-Allagoa handed down the restraining order after an ex parte application filed November 21, 2025, to enforce a consent judgment the court entered months earlier on July 22, 2025.

The judge went further: Shoprite’s directors must now lay bare all company assets — movable and immovable — to the judgment creditor.

Tobenna Nnamani, counsel to the creditor, had pressed the court for garnishee orders nisi to freeze funds belonging to the judgment debtor across multiple banks.

With the order in hand, the creditor’s lawyers are now demanding specifics from director Jide Ogundare and the rest of Shoprite’s board. On the list: the distribution centre in Ajao, Lagos, and all relevant trademarks.

The case was adjourned to May 7, 2026, for further proceedings.

The clampdown traces back to a N1.76 billion judgement debt.

Shoprite, according to court filings, failed to comply with a court-approved settlement — a breach that has now triggered the asset freeze.

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By Gloria Ikibah

The House of Representatives has given the green light to President Bola Ahmed Tinubu’s request to secure more than $516 million in external financing, paving the way for a major infrastructure push under the current administration.

The approval was granted during Tuesday’s plenary in Abuja following the consideration of a report presented by Abdullahi Rasheed, deputy chairman of the House Committee on Aids, Loans and Debt Management.

The funding, arranged through a syndicated facility led by Deutsche Bank AG, is earmarked for the development of key sections of the ambitious Sokoto–Badagry Super Highway project.

The proposed financing will specifically support sections 1, 1A and 1B of the road, covering roughly 120 kilometres in the first phase of construction. The request was submitted to the National Assembly in line with statutory provisions governing public borrowing.

The highway scheme, a centrepiece of the administration’s economic agenda, is designed to improve connectivity across several states and streamline the movement of goods along critical trade routes. Stretching an estimated 1,000 kilometres, the corridor is expected to link Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun and Lagos, connecting Illela in the north to Badagry on the Atlantic coast.

As part of the financing structure, the loan is backed by a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit, providing an additional layer of assurance for lenders.

The Federal Government is also expected to commit substantial counterpart funding exceeding ₦265 billion to cover land acquisition, compensation and associated infrastructure costs.

The borrowing arrangement is structured over a nine-year period, including a three-year grace window, with interest tied to the Chicago Mercantile Exchange SOFR benchmark plus a margin of 5.3 per cent annually.

The Federal Executive Council had earlier endorsed the financing plan, clearing the path for legislative approval and the next phase of implementation.

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By Gloria Ikibah

Nigeria has condemned the killing of Mali’s Defence Minister, Lieutenant General Sadio Camara, describing the attack as a tragic blow to regional stability and a stark reminder of the growing threat of terrorism across West Africa.

In a statement issued from Abuja, by Spokesperson of the Ministry of Foreign Affairs, Kimiebi Ebienfa, the expressed outrage over the minister’s death following terrorist attacks on 25 April 2025, while extending condolences to the government and people of Mali.

“The Federal Government of Nigeria condemns in strong terms the tragic killing of the Minister of Defence and Veteran Affairs of the Republic of Mali, Lieutenant General Sadio Camara, following the terrorist attacks of 25 April 2025,” the statement read in part.

Nigeria described the loss as particularly painful given the timing, noting that Mali is navigating a delicate period in its national history.

“Nigeria expresses its deepest sympathies to the bereaved family, the Malian Armed Forces, and the Government and people of Mali for this grievous loss at a critical moment in the nation’s history.

“In times such as these, when the fragility of human life is laid bare by violence, the bonds that unite nations are felt most deeply,” the statement continued.

Reaffirming its solidarity, the Nigerian government emphasised shared regional ties and resilience in the face of adversity.

The government also used the moment to condemn a broader wave of violence, pointing to recent attacks across Mali that have resulted in significant casualties and destruction.

“Nigeria stands in solidarity with Mali and reaffirms the enduring ties of brotherhood, shared destiny, and collective resilience that define the African spirit.

“The Federal Government of Nigeria condemns the cowardly acts perpetrated by terrorist groups in different parts of the country in recent days which have resulted in the loss of lives and properties.

“Such acts not only threaten national stability but also undermine the shared values of peace, dignity, and coexistence upon which our societies are built,” the statement said.

Calling for a united response, Nigeria stressed the need for sustained cooperation among nations to tackle extremism.

Nigeria further reiterated its backing for Mali’s efforts to restore stability and defend its sovereignty, pledging continued collaboration within regional and international frameworks.

“Terrorism, in all its forms and manifestations, remains a common adversary that demands unified resolve, sustained cooperation and reaffirmation of our shared humanity to tackle.

“Nigeria reiterates its support to the Republic of Mali in its efforts to safeguard its sovereignty, preserve its territorial integrity, and restore lasting peace and security,” it said.

“Nigeria remains committed to working with Mali and other partners within regional and international frameworks to confront the scourge of terrorism and to promote stability across the Sahel and the wider West African sub-region”, the statement added.

As the region grapples with persistent insecurity, Nigeria urged stronger global solidarity, stressing that peace in one nation is closely tied to peace in another.

“At this moment of mourning, Nigeria renews its call for strengthened solidarity among nations, guided by the principles of mutual respect, collective security, and the recognition that the peace of one is inseparable from the peace of all”, the statement further read.