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Unpaid Commission: Businessman Sues FCMB, Demands $60,206.66
A businessman, Michael Ogbole, has sued First City Monument Bank at a Lagos State High Court in Lagos, demanding $60,206.66 as unpaid commission for allegedly facilitating a multi-million-dollar transaction with a United States-based company, Sky Enterprise LLC.
Ogbole, in the suit, filed by Falana & Falana Chambers accususe FCMB of circumventing him in the deal.
The claimant alleged on June 2, 2016, he met with FCMB’s Group General Manager and Chief Executive Officer, Ladi Balogun, to discuss how he could help the bank secure finance from Sky Enterprise, a Florida-based firm specialising in trade finance, risk, and debt management.
Following their discussion, Balogun allegedly directed him to contact FCMB’s Treasurer, Gerald Ikem, who introduced him to Nomso Ezenta, head of Structured Funding and Correspondent Banking, to coordinate the transaction.
The businessman said on September 2, 2016, he arranged a meeting between Sky Enterprise’s Global Director for Africa, Yinka Akinlabi, and FCMB at the bank’s headquarters to structure the deal.
The claimant said those present were top FCMB executives. After the meeting, the parties exchanged emails and phone calls to finalise the transaction.
However, in February 2021, the businessman discovered FCMB went ahead with the deal through Sky British, a subsidiary of Sky Enterprise, without his involvement.
He claims this was confirmed by FCMB’s Annual Report and Financial Statements of December 31, 2020.
In a letter of October 12, 2021, the businessman demanded $60,206.66, representing one per cent commission on the $6,020,660, facility secured by FCMB from Sky British. After FCMB failed to respond, another demand letter was sent on January 19, 2022. Despite these efforts, the businessman claimed FCMB has refused to pay.
FCMB, through its lawyer, Wale Olawoyin, said the suit lacks merit, admitting that in 2016, Ladi Balogun was approached by the claimant, claiming he can broker dollar loans for banks.
Subsequently, the bank said the claimant, through phone conversations, emails, and two meetings, held discussions with other FCMB executives.
News
Breaking: Wife of former DSP, Ekweremadu, released from UK prison, returns home
By Kayode Sanni-Arewa
Mrs. Beatrice Ekweremadu, wife of ex-Deputy Senate President, Senator Ike Ekweremadu, has returned to Nigeria.
A reliable source on Wednesday confirmed her return to VANGUARD.
It will be recalled that Senator Ekweremadu, his wife, and Dr. Obinna Obeta were sentenced by a UK court over charges related to organ harvesting.
The former Deputy Senate President received a 10-year prison sentence, while Mrs. Ekweremadu was sentenced to six years.
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18 States Move To Block Trump’s Order Ending Birthright Citizenship For Immigrant Children In US
A coalition of Democratic state attorneys general filed a federal lawsuit on Tuesday to block President Trump’s executive order aimed at eliminating birthright citizenship.
Shortly after taking office on Monday, Trump used presidential powers to initiate his long-promised immigration crackdown. His executive actions included an order directing the federal government to stop issuing passports, citizenship certificates, and other documents to many children born in the U.S. whose mothers are in the country illegally or whose parents are not legal permanent residents.
According to CBS News, the lawsuit, filed by 18 states in federal court in Massachusetts, argues that Mr. Trump’s initiative violates the 14th Amendment of the U.S. Constitution, which has long been interpreted by the federal government to grant citizenship to those born on American soil.
The cities of San Francisco and Washington, D.C., have also joined the suit.
The 14th Amendment says: “All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside.”
“The great promise of our nation is that everyone born here is a citizen of the United States, able to achieve the American dream,” New York Attorney General Letitia James said in a statement to CBS News.
“This fundamental right to birthright citizenship, rooted in the 14th Amendment and born from the ashes of slavery, is a cornerstone of our nation’s commitment to justice.”
The lawsuit seeks a preliminary injunction to stop the enforcement of the executive order and ultimately aims to have it invalidated.
The states participating in the suit include California, Colorado, Connecticut, Delaware, Hawaii, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, New York, North Carolina, Rhode Island, Vermont, and Wisconsin.
“The President’s executive order attempting to rescind birthright citizenship is blatantly unconstitutional and quite frankly, un-American,” California Attorney General Rob Bonta said in a statement.
The states are asking the court to immediately block the order from taking effect.
Mr. Trump directed that his order should be enforced in 30 days.
News
Burkina Faso outlaws colonial-era judicial wigs to embrace cultural identity
In a historic attempt to decolonise the country’s judiciary, President Ibrahim Traoré of Burkina Faso has formally banned judges from wearing wigs from the British and French colonial eras.
President Traoré emphasised in his announcement the importance of eschewing colonial-era traditions and implementing customs that respect Burkina Faso’s cultural identity.
The action is in line with his larger plan to fortify national identity and declare the nation’s autonomy from outside influences. The colonial wigs, which have traditionally stood for outside authority in African legal systems, are gradually being abandoned.
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