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Court restrains banks from releasing funds linked to Chinmark Group

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Court remands man for allegedly stealing motorcycle

The Lagos State High Court sitting in Osborne, Ikoyi has granted an order of Mareva injunction restraining all commercial banks in the country from releasing or dealing in any manner with any money or assets due to Chinmark Group Limited and three others.

The court granted the order up to the amount of N246,610,000 (two hundred and forty-six million, six hundred and ten thousand naira) being the outstanding investments and return on investments accruing to the applicants from the defendants as of December 30, 2021.

The claimants/applicants in the suit are Stephanie Ohuche, Okonkwo Blessing, Oliver Njoku and Livinus Chinamere who are suing on behalf of themselves and 76 other investors of Chinmark Group Ltd.

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They had dragged the defendants, Chinmark Group Ltd, FinAfrica Invest Ltd (the company peddled as the investment arm of Chinmark Group), the chief executive officer of both companies, Ijiomah Marksman Chinedu and his wife, Marksman Uhunoma Trinity before the Lagos High Court sitting in Osborne, Ikoyi over allegations of a failed Ponzi scheme.

The claimants accused Ijiomah and the other three defendants of using the investment scheme to dupe thousands of Nigerians of their hard-earned money to the tune of over N20bn without any intention to restitute or pay the same back.

Justice Kudirat Jose listened to the exparte application of the counsel for the claimants, Adetunji Adedoyin-Adeniyi, and restrained the affected banks from releasing or dealing with any monies and/or assets due to the defendants from any account maintained by all the affected banks.

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The affected banks are Guaranty Trust Bank Limited, Access Bank Plc, Citi Bank Nigeria Limited, Ecobank Nigeria Plc, Fidelity Bank Plc, First Bank Of Nigeria Limited, First City Monument Bank Plc, Globus Bank, Heritage Bank Limited, Jaiz Bank, Keystone Bank Limited, Polaris Bank Limited, Providus Bank, Stanbic Ibtc Bank Nigeria Limited, Standard Chartered Bank, Sterling Bank Plc, Union Bank Of Nigeria Plc, United Bank For Africa Plc, Unity Bank Plc, Wema Bank Plc And Zenith Bank Plc.

The court also ordered the banks who are holding the funds or assets of all the defendants to file an affidavit before the court to show the balance of the 1st, 2nd, 3rd, and 4th defendants’ accounts.

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For Banks who are not holding any of the defendants’ accounts, the court held that it shall suffice if they send in a letter to the court and the claimant’s counsel saying that they are not holding any such funds or assets.

The court also granted leave to the claimants to serve their Originating Summons and other relevant documents with accompanying exhibits, the Motion on Notice for Mareva injunction; and all other processes that may be issued in the suit on the 3rd and 4th Defendants by way of substituted service; which entails pasting same on the 3rd and 4th Defendants’ last known address in the Ogba area of Ikeja Lagos.

Justice Jose however refused to grant an order restraining the defendants from selling, transferring, assigning and or dealing with any property that can be traced and located by the claimants during the pendency of the suit.

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The court held that no particular property was mentioned by the claimants.

Court restrains banks from releasing funds linked to Chinmark Group
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Headlines

Akpabio Hails Okpebholo’s Supreme Court Victory, Calls It Triumph of Democracy

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Akpabio

President of the Senate, Godswill Akpabio, has congratulated Governor Monday Okpebholo on his affirmation as the duly elected governor of Edo State by the Supreme Court, describing the ruling as a “triumph of democracy and the will of the people.”

Akpabio, in a statement personally signed and released on Friday in Abuja, applauded the apex court’s decision, saying it validated the mandate freely given to Okpebholo in the September 2024 gubernatorial election.

“What the apex court in the land has done is to affirm the will and wishes of the overwhelming majority of the people of Edo State. It shows that the election was transparent, free and fair,” Akpabio stated.

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He added that, “The declaration by the Supreme Court in favour of Sen. Okpebholo against Mr Asue Ighodalo of the Peoples Democratic Party (PDP) has proven that elections are won at the ballot and by people who have identified with the grassroots.”

The Senate President said the judgment reaffirms the strength of Nigeria’s democratic institutions and the popularity of the All Progressives Congress (APC) in Edo State.

“This judgment has again reaffirmed the fact that democracy is at play and the people of Edo have wholeheartedly embraced the All Progressives Congress (APC) and popularly elected their preferred choice of Senator Okpebholo as their governor,” he said.

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According to Akpabio, the ruling not only confirms Okpebholo’s mandate but also “paves the way for him to continue delivering exceptional service to the good people of Edo.”

He praised the governor’s performance in the past seven months, expressing confidence in his capacity to deliver more during his four-year tenure.

“My distinguished brother, His Excellency Senator Monday Okpebholo, on behalf of my family and constituents, the Senate of the Federal Republic of Nigeria, I extend my warmest congratulations to you and the wonderful people of Edo on this landmark victory at the Supreme Court.

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“I wish you success and I assure you of the Senate’s support and collaboration in ensuring the state’s progress and development.

“Congratulations once again, Gov Okpebholo. I look forward to a robust working relationship with you,” Akpabio added.

In a unanimous decision, a five-member panel of the Supreme Court led by Justice Mohammed Garba dismissed the appeal filed by the PDP candidate, Mr Asue Ighodalo, for lacking merit.

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The apex court upheld the earlier rulings of the Court of Appeal and the Edo State Governorship Election Petition Tribunal, both of which declared Okpebholo of the APC as the valid winner of the election.

The court ruled that the appellant failed to provide credible and admissible evidence to support claims of electoral malpractice, including over-voting and substantial non-compliance with the Electoral Act.

It further held that the PDP candidate failed to call relevant witnesses to back up some of the evidence he tendered, particularly those involving the Bimodal Voter Accreditation System (BVAS).

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Some of the documents presented, the court noted, were simply “dumped” on the tribunal without demonstrating the alleged irregularities in 432 of the 4,519 polling units across the state.

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NELFUND Begins Upkeep Payments to Over 3,600 Students After Bank Detail Update

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NELFUND Disburses Over N20bn in Student Loans, Assures Transparency

The Nigerian Education Loan Fund (NELFUND) has commenced the disbursement of upkeep payments to students who successfully updated their bank account details from digital wallets to commercial bank accounts.

This was announced in a statement released on Friday in Abuja by the Director of Strategic Communications of the Fund, Mrs. Oseyemi Oluwatuyi.

Oluwatuyi described the development as a significant breakthrough in addressing earlier disbursement delays.

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“Over 3,600 students, who previously registered with digital-only banking platforms, have now successfully received their backlog of upkeep payments after updating their details to conventional commercial bank accounts on the NELFUND portal,” she stated.

“We appreciate the patience and understanding of all affected students during this period. Your resilience and cooperation have made this progress possible,” she added.

The NELFUND spokesperson advised students who have yet to update their bank details to raise a support ticket via the official NELFUND portal to request access for the update.

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She further urged affected students to report through the IT office of their respective institutions, which would compile and forward all related cases to NELFUND for prompt resolution.

“NELFUND remains committed to ensuring that no eligible student is left behind. This resolution process is part of our broader effort to enhance the efficiency, transparency, and student-centered delivery of our support services,” she said.

Oluwatuyi encouraged students to continue engaging only through official NELFUND channels and to assist their peers who may need help navigating the update process.

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She also provided contact options for inquiries, stating that the fund can be reached via email at info@nelf.gov.ng or through its official social media handles: X (formerly Twitter) @nelfund; Instagram @nelfund; and Facebook & LinkedIn: Nigerian Education Loan Fund – NELFUND.

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Akwa Ibom APC Gears Up to Receive President Tinubu as Governor Umo Eno Joins Party

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The All Progressives Congress (APC) in Akwa Ibom State has announced its readiness to host President Bola Ahmed Tinubu and other top party leaders as it officially welcomes Governor Umo Eno into its ranks.

Speaking at a press briefing in Uyo on Friday, APC chieftain and former presidential aide, Senator Ita Enang, disclosed that the party was fully prepared to receive the president, Vice President Kashim Shettima, APC National Chairman, and governors elected on the party’s platform for the historic reception.

Governor Umo Eno had on June 6 formally defected from the Peoples Democratic Party (PDP) to the APC, in a move widely described as a political game-changer in Akwa Ibom.

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Enang, a former Special Assistant to the President on National Assembly and Niger Delta Affairs, said the governor’s defection had effectively aligned the state with the central government.

He assured Governor Eno and his supporters that the APC would embrace them wholeheartedly and honour all agreements reached.

“As progressives, we shall work with the governor and his supporters to ensure that they fit into the party without hitches,” Enang stated. “We will also work with them to align programmes of the state government with the ideals and manifesto of the party.”

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He further described the governor’s move as a “merger” that promises significant benefits for Akwa Ibom and its citizens.

The planned reception is expected to mark a major political event in the state, signaling a realignment of forces ahead of future elections.

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