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Court declares SEC sanctions against Oando management null, void
Wikipedia Oando shareholders in the persons of Alhaji Yakubu Gumel; Alhaji Kabiru Tambari, suing for himself and on behalf of the Sokoto Zone Shareholders Association; Tunde Badmus, suing for himself and for the benefits of Pacesetters Shareholders Association, bagged yet another win at the Federal High Court (FHC) Kano, in a suit filed against the Securities and Exchange Commission (SEC) for overreaching its powers. Justice A. Lewis Allagoa presiding over the ruling dismissed the regulators preliminary objection and granted all the reliefs sought by the Oando Shareholders. The FHC Kano dismissed SEC’s objection on the basis that the shareholders’ claims fall under their rights as shareholders according to the Companies and Allied Matters Act (CAMA) and is therefore not a capital markets i...
Oyo governor to declare Hijrah holiday from next year
Governor Seyi Makinde of Oyo State, on Wednesday, declared that starting from next year, the government would declare Hijrah holiday in line with the yearnings of the Muslim community in the state. Makinde, who made the declaration during the celebration of 2021 Mawlud Nabiyy, held at the Remembrance Arcade of the Government House, Agodi, Ibadan, stressed the need for the Muslim faithful and non-Muslims as well to continue to peacefully coexist. A statement by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, indicated that the governor equally declared that the state will always rise above the antics of perpetrators of evil, whom he said had tried all they could to plunge the state into chaos. According to Governor Makinde, only peaceful and harmonious coexistence would lead the...
NAICOM issues operating licenses to 4 insurers, 1 reinsurance firms
File Photo The National Insurance Commission (NAICOM) has granted operating licenses to four insurance firms and one reinsurance company to operate in the nation’s insurance industry. The four insurance firms are Heirs Insurance Limited (General); Stanbic IBTC Insurance Limited; Heirs Life Assurance Limited; Enterprise Life Company Nigeria Limited; and FBS Reinsurance Limited. The Commissioner for Insurance, Sunday Thomas, while presenting the licenses to the companies in Abuja, said that they have met the statutory requirements to carry out insurance business in Nigeria. Meanwhile, Heirs Insurance Limited (general) has appointed Olaniyi Stephen Onifade as its Managing Director; Stanbic IBTC Insurance Limited appointed Akinjide Orimolade as Managing Director; Heirs Life Assurance Limited a...
