News
Court directs CBN, NDIC to freeze N7.15bn linked to Parallex Bank
A High Court of the Federal Capital Territory (FCT) sitting in Asokoro, Abuja, has ordered the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to freeze N7.15 billion linked to Parallex Bank Limited over a dispute involving letters of credit.
The interim order was issued by Justice Hauwa Gummi following an ex parte application filed by FHT Mega Express Limited.
In the suit marked CV/4737/2025, FHT Mega Express listed Parallex Bank Limited as the first respondent, while the CBN and NDIC were named as the second and third respondents.
In the ruling dated December 18, 2025, the court directed the CBN and NDIC to withhold all funds standing to the credit of Parallex Bank in the sum of N7,154,677,000. The judge further ordered that the funds be moved into an interest-yielding account under the custody and control of the financial regulators, pending the hearing and determination of the substantive motion.
Justice Gummi granted all the reliefs sought by the applicant and adjourned the matter to January 15, 2026, for hearing of the motion on notice.
The ex parte application was moved by counsel to FHT Mega Express, Tolu Babalaye, and supported by a 49-paragraph affidavit deposed to by O. Yomi Sholoye. Court records showed that hearing notices were issued to all respondents, including Parallex Bank, the CBN, and the NDIC.
According to court documents, the dispute arose from a banking relationship between FHT Mega Express and Parallex Bank in 2023, involving funds deposited for the issuance of letters of credit (LC).
FHT Mega Express told the court that it maintains an account with Parallex Bank and deposited N7.15 billion as cash collateral for the establishment of LCs valued at $7.31 million to support international trade transactions.
The company said Parallex Bank issued an indicative offer of banking facilities on June 7, 2023, assuring that the letters of credit would be issued immediately upon receipt of the collateral, with foreign exchange sourcing expected to commence promptly.
Kidnappers slash ransom for eight abducted Edo residents to N40m
However, the applicant alleged that the bank failed to issue the letters of credit as agreed and did not apply the funds for their intended purpose. Instead, the bank allegedly delayed the purchase of foreign exchange during a period of market volatility, resulting in a significant increase in exchange rates.
FHT Mega Express further alleged that when the imported goods eventually arrived in Nigeria, Parallex Bank demanded additional funds to cover what it described as foreign exchange differentials. The company argued that the demand stemmed from the bank’s failure to act in a timely manner, insisting it had fully met its obligations by providing the required naira equivalent upfront.
The applicant also accused the bank of refusing to release the bill of lading for the goods, leading to the containers being abandoned and later auctioned by the Nigeria Customs Service.
According to the company, repeated demands for either the completion of the transaction or a refund of the deposited funds yielded no result, prompting the legal action.
FHT Mega Express told the court that it sought the interim preservatory order out of concern that Parallex Bank might be unable or unwilling to refund the funds if judgment is eventually entered in its favour, stressing that the order was necessary to prevent dissipation of the disputed sum pending the determination of the case.
News
Primate Ayodele, set to commission Mosque on Saturday
The Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has concluded plans to commission a mosque, which he single-handedly built, on Saturday, February 14, 2026.
The commissioning will also commemorate his 21-day annual thanksgiving programme, which began in January and will end on Sunday, February 15, 2026.
The mosque building, which the prophet announced plans for last year, is the first of its kind, as there has never been a prominent Christian leader reported to have built a mosque before now.
According to Primate Ayodele, his decision to build the mosque is not because he wants to change his religion, but rather a representation of a direction given to him by God many years ago.
He explained that his church has been home to Muslim faithful, and at different times, he has been invited to preach at Muslim gatherings. Therefore, building a mosque was not difficult, especially after receiving divine direction regarding it.
“My decision to build a mosque is not because I want to become a Muslim, but a direct representation of what God told me to do. I have Muslims attending my church, I attend Muslim programmes to preach when I am called upon, and I have several Muslim friends, so following the God-given instruction was not too hard for me.”
Primate Ayodele also noted that building a mosque as a Christian cleric sends a message of religious tolerance across the globe and further showcases his love for humanity, regardless of differences.
“Beyond being a divine instruction, this is a message of religious tolerance across the globe. If we can resolve the issue of religion in the world, it would definitely be a better place for all of us. I love everyone, regardless of their religion or tribe, and building a mosque further showcases that. God created everyone equally; we should not celebrate things that further divide us.”
Speaking on the operations of the mosque, Primate Ayodele explained that he would be handing it over to the Islamic community without any form of interference in its administration.
“By God’s grace, the mosque will be named after the late mother of President Tinubu, and we will be handing over its operations to the Islamic community without any interference.”
It is worth noting that Primate Ayodele has both privately and publicly supported other churches, especially financially. He has donated funds for church buildings, empowered individuals who are not members of his church, and raised funds for churches other than his own.
News
Scary: CRS records 1,459 cases in five years
Cross River State recorded 1,459 cancer cases between 2018 and 2022, with women accounting for over two-thirds of the total, data from the Calabar Cancer Registry have shown.
Director of the Registry, Prof. Ima-Obong Ekanem, disclosed this at a two-day capacity workshop for Cancer Registrars held at the University of Calabar Teaching Hospital, UCTH.
The training was organised by the National Institute for Cancer Research and Treatment, NICRAT, in collaboration with Linkwell Dynamic Concept.
Of the total cases, 984 (67.4 per cent) were females and 475 (32.6 per cent) males, giving a male-to-female ratio of 1:2. An average of 292 cases was recorded annually — a 51 per cent rise compared to 2009–2013.
Ekanem, also Chief Consultant Pathologist at UCTH, said the report covered only three of the state’s 18 local government areas and excluded benign tumours, in line with global standards.
Among men, prostate cancer led with 149 cases (33.4 per cent), followed by lymphoma, colorectal, breast, mouth and pharynx, larynx, lung, bladder, leukaemia and thyroid cancers.
For women, breast cancer topped the chart with 397 cases (40.3 per cent), followed by cervical cancer with 170 (17.3 per cent). Ovarian, uterine, colorectal and lymphoma cases were also recorded.
In children, 90 cases were documented, with retinoblastoma and lymphoma the most frequent.
Ekanem said over one-third of cancers are preventable through reduced exposure to risk factors and vaccination against Hepatitis B and Human Papilloma Virus, which are linked to liver and cervical cancers.
She urged healthy diets, regular exercise, avoidance of tobacco and excessive alcohol, and reduced sugar and salt intake. She also cautioned against harmful practices such as skin bleaching.
Men above 40, she advised, should undergo annual prostate checks, while women should carry out monthly breast self-examinations and periodic Pap smear and HPV DNA tests.
She noted that screening services remain unaffordable for many, stressing the need for a stronger health system to guarantee access to diagnosis and treatment.
Ekanem cited funding and logistics gaps as major challenges facing the registry and called for support.
NICRAT Director-General, Prof. Usman Malami Aliyu, represented by Bashir Mustapha, said accurate cancer data are vital for planning, budgeting and effective control programmes nationwide.
News
FG Suspends Sachet Alcohol Ban, Tells NAFDAC to Stand Down
The Federal Government has again reaffirmed the suspension of all enforcement actions relating to the proposed ban on sachet alcohol and 200ml PET bottle alcoholic products, warning the National Agency for Food and Drug Administration and Control (NAFDAC) to desist forthwith from further sealing of factories and warehouses.
This renewed directive follows a joint intervention by the Office of the Secretary to the Government of the Federation (OSGF) and the Office of the National Security Adviser (NSA), both of which have raised serious concerns over the security implications of continued enforcement actions in the absence of a fully implemented National Alcohol Policy.
According to OSGF and NSA, the National Alcohol Policy has now been signed by the Federal Ministry of Health in line with the directive of President Bola Ahmed Tinubu. However, they stressed that until the policy is fully implemented and further policy direction is issued by the Office of the SGF, NAFDAC must refrain from all enforcement measures, including factory shutdowns, warehouse sealing, and public emphasis on the sachet alcohol ban.
The SGF and NSA jointly warned that the continued sealing of warehouses and de facto banning of sachet alcohol products, without a harmonised policy framework, is already creating economic disruptions and poses a growing security threat, particularly given the impact on employment, supply chains, and informal distribution networks across the country.
This position reinforces an earlier directive issued by the Office of the Secretary to the Government of the Federation in December 2025, which formally suspended all actions relating to the proposed ban pending consultations and a final government decision.
In a statement issued by the Special Adviser on Public Affairs to the SGF, Terrence Kuanum, the OSGF disclosed that it had received an official correspondence from the House of Representatives Committee on Food and Drugs Administration and Control, dated November 13, 2025. The letter, referenced NASS/10/HR/CT.53/77 and signed by the committee’s Deputy Chairman, Hon. Uchenna Harris Okonkwo, raised concerns over NAFDAC’s proposed enforcement actions and drew attention to existing resolutions of the National Assembly on the matter.
The OSGF explained that, in line with its statutory role as Chairman of the Cabinet Secretariat, it is currently reviewing all legislative resolutions, public health considerations, economic implications, and national interest factors surrounding the issue.
“Accordingly, all actions, decisions, or enforcement measures relating to the ongoing ban on sachet alcohol are to be suspended pending the final consultations and implementation of the National Alcohol Policy and the issuance of a final directive,” the statement emphasized.
The Office further clarified that any enforcement action carried out by NAFDAC or any other agency without due clearance and resolution from the Office of the Secretary to the Government of the Federation is invalid and should be disregarded by the public until an official position is formally communicated.
With the latest intervention by the Office of the National Security Adviser, the Federal Government has now elevated the matter beyond regulatory concerns, stressing that premature enforcement without coordinated policy implementation could destabilize communities, worsen unemployment, and trigger avoidable security challenges.
The SGF and NSA reiterated that the warning stands, and that NAFDAC is expected to cease forthwith from further enforcement actions or public emphasis on the sachet alcohol ban until the National Alcohol Policy is fully operationalized and further directives are issued by the appropriate authorities.
The Federal Government assured Nigerians and industry stakeholders that a final, balanced, and lawful decision would be communicated in due course, following comprehensive consultations and inter-agency coordination in the overall interest of public health, economic stability, and national security.
-
News21 hours agoSenate rescinds earlier decision, amends Electoral Act to accommodate electronic transmission of results with conditions
-
News20 hours agoFinally, Senate Rescinds Decision on Electoral Act Amendment Bill
-
News9 hours agoAtiku, Makinde Hold Closed-Door Meeting With IBB
-
Metro9 hours agoOwo Massacre: Amotekun Officer Identifies 2nd Defendant As Gunman
-
News8 hours agoNRS targets ₦40.7trn revenue in 2026
-
News20 hours agoVideo/Photos: Wike confirms Tinubu’s intervention in Rivers crisis, fervently hope it’ll be the last
-
News23 hours agoMarwa mourns fallen officer as NDLEA nabs 6 suspects in bloody Bonny Island raid (Photos)
-
News9 hours agoNASS joint committee turns down proposed Nigerian Air Force budget, demands review
