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Police Clarify Laide Bakare’s Traffic Stop, Debunk Actress’ Claims of Harassment

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The Lagos State Police Command has responded to actress Laide Bakare’s allegations of police harassment, explaining that she was stopped for violating traffic laws and fined accordingly.

 

According to the Lagos State Police Public Relations Officer, SP Benjamin Hundeyin, in a post via X, Bakare was driving on the Bus Rapid Transit (BRT) lane, which led to her being stopped and fined N70,000.

 

Bakare had taken to social media to claim that police officers entered her car, drove away with her 14-year-old daughter, and demanded her ATM card to withdraw N70,000.

 

However, Hundeyin clarified that the actress chose to create a scene and remained outside her vehicle as it was being taken to the Lagos Metropolitan Area Transport Authority (LAMATA) office.

 

He emphasized that no officer laid a finger on her, and she left with the receipt and her vehicle after paying the fine.

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Business

Dangote Accuses International Oil Companies of Manipulating Crude Oil Prices, Frustrating Local Refinery Efforts

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Devakumar Edwin, Vice-President of Oil and Gas at Dangote Industries Limited (DIL), has accused international oil companies (IOCs) in Nigeria of deliberately frustrating the survival of Dangote Oil Refinery and Petrochemicals.

 

According to Edwin, the IOCs are manipulating crude oil prices, charging exorbitant premiums above market price, and forcing the refinery to import crude from distant countries like the United States at higher costs.

 

Edwin lamented that this move is a deliberate attempt to stifle the growth of the local refinery, which is a significant investment in Nigeria’s oil and gas sector.

 

He also recalled that the devaluation of the naira from ₦460 to ₦1,400 was one of the biggest setbacks in 2023, further complicating the challenges faced by the refinery.

 

This accusation comes as the latest development in the ongoing struggles of Dangote Oil Refinery and Petrochemicals to establish a foothold in the Nigerian oil and gas industry.

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Business

Court Freezes Swift Networks’ Accounts Over N7 Billion Debt to Union Bank

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A Federal High Court in Lagos has granted Union Bank Plc a significant victory in its debt recovery suit against Swift Networks Limited and its Managing Director, Charles Anudu.

 

The court has issued an interim order freezing all accounts of the defendants in all Nigerian banks, pending the determination of the suit.

 

The order, granted on June 19, 2024, was in response to Union Bank’s application to recover an alleged debt of N7 billion from Swift Networks Limited.

 

The court has also restrained the defendants from accessing or dealing with their funds in any bank or financial institution in Nigeria.

 

All banks and financial institutions harboring the defendants’ accounts have been directed to provide details of the credit outstanding in the accounts within seven days.

 

Electronic payment platforms and digital banks have also been barred from processing payments authorized by the defendants.

 

This development is the latest in an ongoing legal battle between Union Bank Plc and Swift Networks Limited over the alleged debt, which has previously led to a Mareva order freezing the defendants’ accounts in 25 banks.

 

The defendants’ refusal to honor an agreement to settle the debt led to the institution of the fresh suit.

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