News
First Bank responds to legal dispute with General Hydrocarbons

By Francesca Hangeior
First Bank of Nigeria Limited has described media reports alleging that it abused court processes in its legal battle with General Hydrocarbons Limited (GHL) as false and misleading.
In a statement released on Tuesday, the bank clarified that it had fulfilled its obligations under the loan agreements. However, the dispute began when First Bank demanded good governance and transparency in the transactions—demands that GHL allegedly rejected.
The statement emphasized that, as a responsible and law-abiding corporate entity with deep respect for the judiciary, First Bank will not comment on matters currently before the courts, as these are sub judice.
However, the bank expressed its concerns over what it described as “sponsored but false narratives” being circulated in some media outlets.
According to First Bank, the legal tussle stems from a commercial transaction in which it extended significant credit facilities to GHL to finance the development of certain Oil Mining Lease (OML) assets. The bank asserts that these facilities were governed by robust loan agreements that outlined the obligations of both parties and detailed the security arrangements.
The statement further alleged that breaches by GHL, including the diversion of proceeds, prompted First Bank to demand the appointment of an independent operator to manage the financed assets transparently. This request, the bank says, was in line with the terms of the agreement.
When GHL refused to comply, First Bank initiated a court case to protect its interests. The bank also accused GHL of pursuing “unnecessary arbitral proceedings” in response.
First Bank maintains that its decision to take legal action was necessary to safeguard its assets, recover diverted proceeds, and ensure that similar breaches do not occur in the future.
The bank assures its numerous customers, stakeholders and the general public that it remains solid, calm, steadfast and unflinching in its resolve to continue to provide first-class services to its teeming customers within and outside the country.
FirstBank also thanked its shareholders for the indicatively over subscribed Rights Issue of its parent Company, First Holdco Plc in the first round of its capital raise and looks forward to an equally successful final leg of the recapitalization exercise when it is announced by FirstHoldCo.
News
Police Speaks on Viral Video of Young Men Arriving in Ibeju-Lekki

The Lagos State Police Command has issued an official statement addressing a viral video that sparked concern on social media, showing a large group of young men reportedly arriving in Lagos and gathering near the Dano Company premises in Ibeju-Lekki.
According to the Command, the incident occurred on May 14, 2025, prompting swift deployment of officers to the scene for investigation. The police confirmed that the individuals—eighty-nine in total—had arrived from Katsina State to work as labourers at the Dangote Refinery in Lekki.
A contractor affiliated with the refinery informed the police that he personally recruited the workers for legitimate employment, a statement corroborated by the refinery’s Chief Security Officer (CSO). All individuals were cleared for entry and are expected to reside within the refinery premises.
The police confirmed that thorough checks were conducted, revealing no incriminating materials. The labourers also presented valid National Identification Numbers (NINs), which were successfully verified by the authorities.
Commissioner of Police, CP Olohundare Jimoh, urged the public to refrain from spreading unverified information that could incite panic or tension. He assured residents of the Command’s continued commitment to public safety and swift response to potential threats.
Police Public Relations Officer, CSP Benjamin Hundeyin, signed off on the statement, reaffirming the Command’s dedication to transparency and law enforcement in Lagos State.
News
Finland charges Simon Ekpa with inciting terrorism

Finnish prosecutors on Friday said they had charged a man with inciting terrorism online who a media report identified as Nigerian separatist leader Simon Ekpa.
Finland’s National Prosecution Authority said in a statement that it had charged “a Finnish individual in a case involving suspected public incitement to commit crimes with terrorist intent and participation in the activities of a terrorist group.”
It added that the alleged crimes had been committed in the city of Lahti between 2021 and 2024 and were related to the suspect’s efforts to establish Nigeria’s Biafra region as an independent state.
The prosecution authority did not name the accused but Finnish public broadcaster YLE identified him as separatist leader Simon Ekpa.
Ekpa — who claims to lead the Biafra Republic’s government in exile — was detained in November.
According to the prosecution authority, the accused remained in custody and denied the charges.
Ekpa is known as a self-proclaimed leader of a faction of the Indigenous People of Biafra (IPOB), which is pushing for the independence of Nigeria’s southeast, where a bloody civil war was fought in the late 1960s.
The dual Finnish-Nigerian national has also been a local representative for Finland’s conservative National Coalition Party in the city of Lahti, north of Helsinki, where he has served on a public transport committee.
When Ekpa was arrested, Finnish authorities also requested that four other people be remanded in custody on suspicion of financing Ekpa’s activities.
On Friday, the prosecution authority said the prosecutor had decided to drop charges against four others in the case due to a lack of evidence.
Ekpa has been the subject of several of AFP’s fact checks in recent years over false claims and disinformation he has made in independence campaigning.
AFP
News
FCTA unveils FCT Lottery Regulatory Office

In a bid invigorate the gaming industry in Abuja, the Federal Capital Territory Administration (FCTA), alongside the Director-General of the newly established FCT Lottery Regulatory Office, Lanre Gbajabiamila, has inaugurated a new office.
At a briefing, Gbajabiamila announced the office’s readiness to begin full regulatory oversight of all lottery and gaming operations within the territory, urging operators to begin submitting applications for new licences.
The FCT-LRO became necessary following the Supreme Court judgment in AG Lagos & Ors vs AG Federation & Anor SC/1/2008, which clarified that the FCT has the constitutional right to regulate gaming and lottery activities within its boundaries.
Gbajabiamila promised a regulatory environment built on clarity, stability, and global best practices.
According to him, the office aims to unlock the economic potential of the gaming sector, while boosting investor confidence and increasing internally generated revenue (IGR) for the FCT.
“Our priorities include collaboration with the Office of the FCT Minister and the FCT Internal Revenue Service (FCT-IRS) to ensure proper oversight, fair practices, and prompt revenue remittance,” he said.
He further reassured existing operators that all licenses previously issued by the now-defunct National Lottery Regulatory Commission (NLRC) remain valid until expiration, and renewal fees remain the same under the new FCT Lottery Regulatory Office.
Acting Executive Chairman of the FCT-IRS, Michael Ango, praised the initiative as a strategic tool for economic growth.
He said it aligns with the broader vision of the Wike-led FCT administration to transform Abuja into a world-class capital.
“Abuja is fast emerging as a major tourist and leisure destination. The gaming sector is a vital piece of that puzzle, with huge potential to attract investment, create jobs, and boost economic activity,” Ango said.
He emphasised that the collaboration between the IRS and the FCT Lotteries Office will ensure efficient revenue generation and foster a responsible gaming environment that benefits both operators and residents.
With this development, the FCT is staking its claim as a serious player in Nigeria’s gaming industry, determined to regulate, grow, and profit from a sector long marked by inconsistency and underutilised potential.
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