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Companies and Allied Matters Act

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.
Senate President, Dr. Abubakar Bukola Saraki, has said that the Senate on resumption of plenary will further probe the NNPC on diversion of dividends from the Nigerian Liquefied Natural Gas (NLNG).

Bukola Saraki: National Assembly will pass priority bills despite campaigns

Senate President Abubakar Bukola Saraki, on Monday assured Nigerians that legislative duties in the National Assembly would not be relegated to the background in view of the commencement of the 2019 electioneering campaigns.
Nigerian National Petroleum Corporation (NNPC)

NNPC to establish two condensate refineries

Nigerian National Petroleum Corporation says it will establish two condensate refineries with a total refining capacity of 200,000 barrels per day.

Central bank prohibits trading, loan refinancing in new credit scheme

Also, it stressed that refinancing of existing loans is prohibited for funding under the programme, saying that any attempt to falsify information would also attract severe sanctions.

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Seyi Makinde

My mother, aunt warned me against politics – Oyo governor

Oyo State Governor, Engr Seyi Makinde, has called on men and women of integrity not to shy away from participating in politics, saying that is the only way to sanitise the system.
(FILES) In this file photo taken on July 23, 2019 US President Donald Trump addresses the Turning Point USA’s Teen Student Action Summit 2019 in Washington, DC,. – President Donald Trump suggested dropping nuclear bombs on hurricanes before they made landfall in the United States, Axios reported on August 25, 2019. (Photo by NICHOLAS KAMM / AFP)

Report: Donald Trump suggested nuking hurricanes

US President Donald Trump suggested dropping nuclear bombs on hurricanes before they made landfall in the United States, Axios reported Sunday.
Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), has again accused President Muhammadu Buhari of clamping down on the judiciary.

EFCC traces Atiku Abubakar’s ‘laundered’ money to ex-President Obasanjo library

The Economic and Financial Crimes Commission (EFCC) has extended its investigation of the laundered 150 million euros cash-for-poll by associates of former vice-president Atiku Abubakar to Olusegun Obasanjo Presidential Library.

Sudan’s flood death toll reaches 62 – state media

Heavy rainfall and flash floods have killed 62 people in Sudan and left 98 others injured, the official SUNA news agency reported on Sunday.

Police stray bullet kills man in Lagos

A stray bullet from an unidentified police man, snuffed life out of a man, Sunday night, at Shogunle area of Lagos.