Tuesday, May 11

Tag: Subsidiary

British Supreme Court Rules that Niger Delta Communities Can Sue Shell in UK
News

British Supreme Court Rules that Niger Delta Communities Can Sue Shell in UK

The United Kingdom Supreme Court has ruled that polluted Nigerian communities can sue Royal Dutch Shell, a British-Dutch oil company in English courts for pollution. The decisions overturns a previous Appeal Court ruling and represents a victory after a five-year legal battle instituted by Ogale and Bille communities in Rivers state. While the communities with 42,500 farmers and fishermen stressed that they are suffering after the oil company polluted their environment including land, swamps, groundwater and waterways, Shell in its defence argued that it was only a holding company for a firm that should be judged under Nigerian law. The Royal Dutch Shell which also did not dispute that pollution had been caused, argued that it could not be held legally responsible for its Nige...
Lockdown: 22 oil workers arrested by Rivers Government freed
News

Lockdown: 22 oil workers arrested by Rivers Government freed

The 22 oil workers arrested by officials of the Rivers Government have been freed, the News Agency of Nigeria (NAN) reports. The oil workers, who were detained at Elekahia Stadium, comprised of 20 men and two women. NAN reports that the workers were arrested on Thursday at Akwa Ibom/Rivers border over alleged breach of the lockdown order imposed by Gov. Nyeson Wike, to contain the spread of the COVID-19 virus in the state. They were heading to an oil facility in Bonny, operated by Mobil Producing Nigeria Unlimited (MPN), a subsidiary of U.S. energy firm, ExxonMobil. They were subsequently taken to a stadium where they were detained and were to be arraigned. Mr Lumumba Okugwagba, Secretary-General, Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), con...
I Didn’t Commit Fraud on American Soil, FBI Searched my Phones and Laptops Illegally – Obinwanne Okeke tells US Court
Celebs

I Didn’t Commit Fraud on American Soil, FBI Searched my Phones and Laptops Illegally – Obinwanne Okeke tells US Court

32-year-old CEO of Invictus Group and Forbes-rated young Nigerian billionaire, Obinwanne Okeke who is facing two counts of computer and wire fraud in the United States has filed a prelimnary objection to the charges. Obinwanne Okeke stated that the American authorities lacked jurisdiction to charge him for fraud as he did not commit the offence he is being accused of in America, neither was any American companies or individuals defrauded at the time of his indictment. The businessman's lawyers who asked for the case to be struck out as the arrest should have never happened, pointed out that prosecutors only stated in the indictment that he swindled Unatrac, a subsidiary of American equipment manufacturer 'Caterpillar' of $11 million. They also cited multiple previous authorities ...
Union Bank Sells UK Subsidiary
Business

Union Bank Sells UK Subsidiary

Union Bank of Nigeria (UBN) Plc has entered a share sale and purchase agreement to divest its 100 per cent equity stake in its United Kingdom (UK) subsidiary, Union Bank UK (UBUK) Plc. In a regulatory filing just released at the Nigerian Stock Exchange (NSE), the board of Union Bank stated that the sale was in line with the bank’s strategy to geographically streamline its business operations to focus on growth opportunities in Nigeria. According to the bank, following a competitive bid process, MBU BidCo Limited (MBU), an acquisition vehicle wholly owned by MBU Capital Limited (MBU Capital), was selected as the preferred bidder. The completion of the sale is however still subject to regulatory approvals from the relevant regulatory authorities in Nigeria and the UK. MBU Capita...
Finally, Obi ‘Invictus’ Okeke appoints Nigerian lawyer, John Iweanoje as legal representative
News

Finally, Obi ‘Invictus’ Okeke appoints Nigerian lawyer, John Iweanoje as legal representative

Obinwanne 'Invictus' Okeke, the Nigerian charged by the FBI for various acts of cyber scam, has appointedJohn Iweanoje, as his lawyer.   Iweanoje takes over from Rahul Sharma, a public defender hired by a United States judge to stand as counsel to Okeke. The accused had failed to appear with a lawyer during his initial court appearance on August 9. Iweanoje indicated that he was stepping in to defend the Abuja-based businessman later the same day.   Okeke did not put in a plea when he made his first court entry. The accused, who would stand trial in Norfolk Virginia, is expected to remain in custody until a trial date is fixed. “Since he was arrested on a criminal complaint, it means he could be held in custody pending trial. The jury will decide whether to return in...
Osagie Alonge quits Pulse Africa after 5 years
News

Osagie Alonge quits Pulse Africa after 5 years

Journalist and media executive Osagie Alonge has announced his exit from Pulse Africa, to take up a new challenge. Alonge, who worked as chief correspondent at Nigerian Entertainment Today, before joining Pulse Nigeria as editor, says he’s now moving to ORide, an Opera company, as Director of Growth. Osagie who is also the Editor-In-Chief of Business Insider by Pulse, SSA says he’s excited about this new opportunity to provide value to the company and Nigerians. ORide is a new motorbike hailing service and a subsidiary of OPay, Opera’s smart financial services company. He is joining a robust team of professionals who are dedicated and passionate about solving problems and enhancing the daily lives of Nigerians. In his new role, he will be responsible for rolling out marketing oper...
Rapper Wale Signs With Warner Bros. Records
Entertainment

Rapper Wale Signs With Warner Bros. Records

Rapper Wale has joined the Warner Bros. Records roster and is due to release his sixth full-length album in 2018. He arrives at the Warner Music Group label via Rock Ross’ Maybach Music Group and immediately drops a brand new track, “Black Bonnie” (feat. Jacquees), today. Wale’s previous three albums were released by Atlantic Records, a subsidiary of WMG, so his WBR deal is a homecoming of sorts. The signing was celebrated at a dinner at Crustacean in Beverly Hills on May 15 attended by Ross, WMG CEO Stephen Cooper and WBR co-chairman and COO Tom Corson as well as influential curators, like Spotify’s Carl Chery, and other executives from the greater Warner family. Said Corson in announcing the signing: “[Wale] is a pillar in the hip-hop community and beyond; with his cultural relevan...
Oil Block Revocation By President Buhari Causes Controversies
News

Oil Block Revocation By President Buhari Causes Controversies

President Muhammadu Buhari's approval of the withdrawal of Oil Prospecting Licences 2001, 2002 and 2003 in the Utapate Field won by indigenes of the Niger Delta is not only being tackled by the investors but may lead to chaos in the oil- rich region if not properly addressed. According to the investors , about N 44. 6 bn signature bonuses paid for the licences is also under threat following the approval of the President to withdraw the OPLs from the winners who emerged after the Federal Government opened up the oil blocks to bidders in the 2007 bid rounds. After winning the bids for the blocks, the bid round was stalled for eight years by litigation until it was resolved amicably in 2015, before the Department of Petroleum Resources handed OPLs 2001 , 2002 and 2003 to Jahcon Internat...
Big Church Foundation Team Ladies Celebrate With Efe And Tboss Of Bbnaija Show
Lifestyle

Big Church Foundation Team Ladies Celebrate With Efe And Tboss Of Bbnaija Show

The victory celebration of the BBNAIJA Housemates continued at complex of Big Church Foundation in Lagos as two of the adhoc members were pictured with the winner of the reality show Efe and the controversial Tboss. The ladies Esther Ezenwoye and Ivy Cypriel clothed on the foundation outfit celebrated the lastest naija celebs with snap shots. It would be recalled that Big Church Group through its Subsidiary ‎company - King Andrea Realtors presented plots of Land to the top three Big Brother Housemates of Efe, Bisola and Tboss. The ceremony was captured by HIP TV, AlexReports, ThisDay, Vanguard Newspaper and other high profile media platforms

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