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Court freezes Swift Networks,’ chief executive’s accounts over alleged debt

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A federal High Court sitting in Lagos has granted Union Bank interim injunction restraining Swift Networks Limited and its agents from accessing funds and assets in banks pending determination of a Motion on Notice in an alleged debt recovery suit.

Justice Yelim Bogoro issued the order on June 19, following a June 11, ex-parte application filed and argued by Gbenga Akinde, counsel for the plaintiff/applicant, Union Bank.

Union Bank listed Swift Networks and its Managing Director, Charles Anudu, as defendants/respondents in suit FHC/L/CS/1010/2024.

The parties have been locked in the alleged debt dispute for a while and it is Union Bank’s case that parties entered into agreement, which was put in writing and signed by parties to amicably resolve the matter.

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But Swift refused to honour the agreement so, the bank instituted an action to enforce it.

On July 19, 2023, the court granted Union Bank Mareva orders restraining Swift Networks from accessing funds up to N7 billion in 25 banks to protect the res.

Following the bank’s latest application, Justice Bogoro restrained the defendants, their directors, staff, management and agents from tampering with, operating, withdrawing from, and/or dealing with the defendants’ alleged funds (whether held directly or by proxy) in any bank and/or financial institution in Nigeria pending hearing and determination of the Motion on Notice.

The judge also directed banks/financial institutions harbouring the defendants’ accounts to depose on oath and furnish the plaintiff or its solicitors, details of credit outstanding in their accounts in seven days of receipt of the order.

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Furthermore, the order restrained any electronic payment platforms, or digital and payment service banks, including Interswitch Limited, Interswitch Financial Inclusion Services, Hope Payment Service Bank, 9PSB, Hope PSB, Money Master PSB, MOMO PSB, Smartcash PSB etc.) from processing payments authorised by the defendants, while also barring them from their services to process funds payment.

The order also barred the defendants from tampering with, removing from jurisdiction, or dissipating, their fixed and moveable assets, investments, bonds, shares, pecuniary and other beneficial interests (whether held directly or by proxy) in their custody or in the custody of any bank, financial institution and/companies in Nigeria.

The banks were also mandated to disclose such assets and funds standing to the credit of the defendants in their custody in seven days.

“This suit is hereby adjourned to July 10 for Motion on Notice. Defendants/respondents shall be put on notice,” Justice Bogoro held.

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Army acquires 43 drones, wings 46 Turkey-trained personnel

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The Federal Government has bolstered the Nigerian Army’s operational capacity with the acquisition of 43 Bayraktar TB2 drones, primarily for deployment in the North-West theatre of operations.

The Commander of the Nigerian Army Space Command, Brig. Gen. U.G. Ogeleka, disclosed this on Tuesday during the winging ceremony of 46 personnel trained in the operation and maintenance of the drones.

The initiative, codenamed Project Guardian, aims to strengthen military operations against insurgency and other security challenges in the region.

“Between May and September 2022, a team of 35 officers and 11 soldiers from the Nigerian Army’s routinely piloted aircraft system regiments underwent specialised training in Turkey on the operation and maintenance of the Bayraktar TB2 drones,” Ogeleka said. “The training crew included multi-piloted aircraft pilots, mission operators, avionics, and mechanical engineers and technicians.”

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Out of the 46 trained personnel, 14 are multi-piloted aircraft pilots, seven are mission operators, and 23 are engineers and technicians.

Ogeleka presented 22 of the trained personnel for the winging ceremony, noting that the others are actively engaged in operational duties.

The Chief of Army Staff, Lt. Gen. Olufemi Oluyede, praised the acquisition of the drones and the training of personnel as significant steps toward enhancing the army’s professionalism and combat readiness.

“The winging of these 22 officers and soldiers as pilots and certified maintenance engineers is a morale booster for others in service,” Oluyede said. “It confirms their readiness to operate and maintain the Turkish Bayraktar TB2 drones in our inventory.”

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Oluyede further revealed plans to procure additional unmanned aerial systems in the coming year to strengthen military operations across all theatres in the country.

The drones will play a critical role in addressing security challenges in the North-West, a region plagued by banditry and insurgency.

Their advanced surveillance and strike capabilities are expected to significantly enhance the Nigerian Army’s operational effectiveness.

This development underscores the government’s commitment to leveraging technology to improve national security and highlights the Nigerian Army’s drive to modernize its arsenal and build capacity within its ranks.

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With more unmanned aerial systems set for acquisition, the military’s ability to conduct precise, real-time surveillance and combat operations is poised for substantial improvement.

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Ondo Assembly mulls 10-year jail term for land grabbers

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The Ondo State House of Assembly is considering a bill that proposes harsh penalties for land grabbers, including up to 10 years imprisonment for forceful entry or illegal takeover of properties.

Governor Lucky Aiyedatiwa has further reinforced the fight against land grabbing by signing an Executive Order to prohibit such activities.

The order aims to end forceful entry, illegal occupation of landed properties, and fraudulent or violent conduct related to land in the state.

To strengthen enforcement, the governor has established a Task Force to protect property rights, uphold the rule of law, and ensure a secure environment for property owners and residents.

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The proposed bill also includes severe penalties of up to 21 years imprisonment for selling family land without the consent of the family head or secretary.

Hon Moyinolorun Ogunwumiju, the lawmaker representing Ondo West Constituency 1, who sponsored the bill, spoke during a public hearing on the bill

Hon Ogunwumiju assured stakeholders that the bill would improve land administration, protect landowners, attract investors, and foster peace and development in the state.

He explained that the bill sought to regulate land dealings, protect landowners and buyers, penalise encroachers, and criminalise unregistered agents.

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Ogunwumiju said the bill proposed penalties of up to 10 years’ imprisonment for forceful entry or takeover of properties and up to 21 years for selling family land without the consent of the family head or secretary.

Speaker of the Assembly, Hon Olamide Oladiji, urged committee members and stakeholders to ensure the bill served the interests of the people.

He said the bill would maintain order in the state and impose necessary sanctions on offenders.

“Land grabbers pose a significant threat to property acquisition. Their activities ranging from trespassing, forceful occupation, and illegal sales of properties to multiple buyers must be confronted decisively.”

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Majority Leader and Chairman of the House Committee on Rules and Business, Oluwole Ogunmolasuyi,  said the bill, would benefit the society at large

Ondo Commissioner for Justice and Attorney General, Kayode Ajulo said the bill would enhance land administration and complement the executive order signed by Governor Aiyedatiwa.

Stakeholders including traditional rulers  called for full implementation of the bill when signed into law.

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FG earmarks N250bn for Lagos-Abuja rail project in 2025 budget

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The federal government has made an allocation of N250 billion in the 2025 budget for the Lagos–Abuja mass transit rail project.

This budgetary investment is part of a broader plan to revitalize Nigeria’s infrastructure and stimulate economic growth.

The government’s focus on infrastructure development is rooted in the belief that it is a cornerstone of long-term economic planning.

By investing in critical infrastructure such as roads, railways, energy, healthcare, and education, the administration aims to create a conducive environment for both domestic and foreign investment.

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The Lagos-Abuja rail project, in particular, is expected to have a transformative impact on the Nigerian economy.

By improving transportation connectivity between two major economic hubs, the project will facilitate the movement of goods and people, reduce logistics costs, and stimulate economic activity.

Additionally, the project is expected to create numerous jobs, both directly and indirectly, contributing to the country’s overall employment rate.

The government’s infrastructure investments are also aimed at addressing regional disparities.

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By connecting different parts of the country through improved transportation networks, the administration hopes to stimulate economic growth in underserved regions, reduce poverty, and promote equitable development.

The 2025 budget signals the government’s commitment to transforming Nigeria’s infrastructure landscape.

By investing in critical projects like the Lagos-Abuja rail line, the administration aims to lay the foundation for a more prosperous and connected Nigeria.

However, the success of these initiatives will depend on effective planning, efficient implementation, and transparent governance.

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