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Companies and Allied Matters Act

Annual returns: CAC moves against defaulting companies

Corporate Affairs Commission on Monday urged companies operating in the country to file their annual returns as provided by the law or risk being de-listed from its register.
The Speaker of the House of Representatives, Femi Gbajabiamila, has called for an improved welfare package for teachers in Nigerian as they join their colleagues globally to mark this year’s World Teachers’ Day. 9

Speaker: Ninth House committed to constitution, electoral act, other amendments

The Speaker of the House of Representatives, Rep. Femi Gbajabiamila, has assured that the 9th House is committed to the amendment of the Constitution and the Electoral Act.
Aiteo Group

Firm files bankruptcy action against AITEO

Charlietam International Services Limited, a Port Harcourt-based company, has filed an action before the Federal High Court in Lagos to commence winding-up proceedings against the oil giant for its prolonged inability to pay a debt of N259,068,753.00 owed the company for various services rendered to AITEO between December 2017 and March 2019.

CJN: Court dismisses suit challenging Justice Tanko Muhammad’s confirmation

A Federal High Court in Abuja has dismissed the suit seeking to stop the confirmation of Justice Tanko Muhammad as the substantive Chief Justice of Nigeria.

Shareholders approve Union Bank’s N54.5 billion capital restructuring

Shareholders of Union Bank of Nigeria (UBN) Plc have approved a proposal to cancel N54.46 billion accumulated permanent losses in the books of the commercial bank.

Union Bank shareholders endorse N54.4 billion share premium reduction

Shareholders of Union Bank of Nigeria (UBN) on Tuesday endorsed the proposed reduction of N54.4 billion from the bank’s share premium account aimed at restructuring its balance sheet for optimal performance.
UBA - United Bank for Africa

UBA opposes Sahara Energy’s application to vacate order to advertise winding-up petition

United Bank for Africa (UBA) has asked Justice Mohammed Liman, presiding over a Federal High Court in Lagos to dismiss a motion filed by a Petroleum Resources firm, Sahara Energy Limited, seeking a discharge of an ex-parte order allowing the bank to advertise a petition it filed to wind-up the firm over alleged N15 billion debt.
A lawyer walks through the compound at the Federal High Court in Ikoyi district in Lagos, Nigeria, May 8, 2018. REUTERS/Akintunde Akinleye

Court rejects case against Anglican bishop

Justice Mojisola Olatoregun of the Federal High court in Lagos has struck out a suit filed by ten prominent members of the Church of Nigeria Anglican communion, Lagos Diocese, challenging the election of the new Bishop Humphrey Olumakaiye for lack of jurisdiction.

Lagos Chamber urges President Buhari to sign CAM bill

The Lagos Chamber of Commerce and Industry (LCCI) has called on President Muhammadu Buhari to sign the Companies and Allied Matters (CAM) bill 2018 in order to boost Micro, Small and Medium Enterprises (MSMEs) growth.
A lawyer walks through the compound at the Federal High Court in Ikoyi district in Lagos, Nigeria, May 8, 2018. REUTERS/Akintunde Akinleye

Court strikes out suit challenging election of Anglican Bishop

A Federal High Court sitting in Ikoyi, Lagos, has struck out a suit filed by 10 prominent members of the Church Nigeria Anglican Communion, Lagos Diocese, challenging the election held by the church to select the new Bishop of the Diocese.
UBA - United Bank for Africa

UBA asks court to wind up Sahara Energy over N15 billion loan

United Bank for Africa Plc (UBA) has filed a winding up petition before a Federal High Court in Lagos against a petroleum resources company, Sahara Energy Resources Limited, over an alleged inability of the firm to pay a debit of $42,282,430.49 (equivalent to N15,221,674,976).
Nigeria’s Vice president Yemi Osinbajo has debunked rumours stating he has resigned his position as the nation’s vice president.

VP Osinbajo: Federal government implements 140 reforms on ease of doing business

Vice President Yemi Osinbajo says that the Federal Government has implemented no fewer than 140 reforms on ease of doing business in the past three years.

CAC registers 3,098,193 companies in 28 years

The Corporate Affairs Commission (CAC) said it had registered 3,098,193 companies and firms in Part A, B and C categories from its inception in 1990 to March 21.

FMDQ, RIMAN seek enhanced risk management practices

The FMDQ OTC Securities Exchange has commended the efforts of the Risk Management Association of Nigeria (RIMAN) in championing the professionalisation of risk Management in Nigeria, even as it stressed the need for enhanced risk management in the nation’s money market.
election inec nigeria

Election: INEC inaugurates team to track campaign finance

The Independent National Electoral Commission (INEC) has inaugurated an inter-agency campaign finance monitoring group ahead of the general election.

CAC commends National Assembly over passage of Companies and Allied Matters Bill

The Corporate Affairs Commission (CAC), on Wednesday commended the National Assembly for the passage of the Companies and Allied Matters Bill.
Abubakar Malami

Rights group tells AGF Abubakar Malami to proscribe IMN or face court action

A pro-democracy and civil rights group, Global Integrity Crusade Network (GICN), on Monday threatened legal action against the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, if he fails to proscribe and declare the Islamic Movement (IMN), a terrorist organization.

British envoy urges National Assembly to pass PIB, Gender Bill, others

The British Deputy High Commissioner to Nigeria, Harriet Thompson, has urged the National Assembly to pass the Petroleum Industry Governance Bill and other critical bills before the expiration of its tenure.

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Adams Oshiomhole

Adams Oshiomhole: Emeka Ihedioha never won Imo, Supreme Court made correction

National Chairman of the All Progressives Congress Adams Oshiomhole said ousted Imo governor Emeka Ihedioha did not win the 9 March 2019 election and that the Supreme Court judgment was a remedy for the fraud.
It was gathered that the victim, who was reportedly taken to the Federal Medical Centre (FMC), Idi-aba Abeokuta, died on Saturday.

One dies of Lassa fever in Ogun

Barely three days after the Ogun State Government denied outbreak of Lassa fever, a 26-year-old woman, Titilayo Akinsola, on Saturday, died of the hemorrhagic fever in Abeokuta, the state capital.
The Federal Ministry of Health through the Nigeria Centre for Disease Control (NCDC) has formally announced the inclusion of three new laboratories into the national yellow fever-measles-rubella laboratory network 7

Lassa fever: 29 deaths, 195 confirmed cases reported in 11 states – NCDC

The Nigeria Centre for Disease Control (NCDC) has disclosed that 29 deaths and 195 confirmed cases of Lassa fever had been reported in 11 states of the federation.

Iwo monarch laments failure of Yoruba language

The Oluwo of Iwo, Oba AbdulRasheed Akanbi, Saturday lamented the failure of Yoruba language to evolve with the current trends and assert its identity among respectable languages in the world.
Former Super Eagles forward Odion Ighalo continued his recovery from an hamstring injury with a session in the gym on Tuesday.

Manchester United target Nigerian forward Odion Ighalo

Manchester United are looking at Odion Ighalo as they try to bring in a striker on loan following the long-term injury to Marcus Rashford.