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Court slams Fidelity Bank And Others N10m Fine Over Rights Violation

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Court slams Fidelity BankAnd Others N10m Fine Over Rights Violation

On Monday, the Maitama Division of the Federal Capital Territory High Court ordered the Economic and Financial Crimes Commission and three others to pay N10 million in fine for violating fundamental rights.

Other respondents included Abdulrasheed Bawa, a former EFCC head, an EFCC official, Calistus, and Fidelity Bank Plc.

Justice Peter Kekemeke slapped the expense on the respondents as he handed judgment in a lawsuit filed by Michael Kundera to enforce his fundamental rights.

The judge held that the respondents violated the applicant’s fundamental rights by arresting and detaining him from May 15 to May 16, 2023, without charging him to court or releasing him on bail.

He added that a 75-year-old man should not be subjected to such treatment.

“I hereby declare that the arrest and detention of the applicant from May 15 to May 16, 2023, was unlawful and violated the applicant’s fundamental rights. The harassment of the applicant in a matter already decided by the court is a violation of his rights, and the 1st to 3rd respondents exceeded their bounds.

“The case of the applicant succeeds, and the respondents are ordered to pay the sum of N10 million severally or jointly to the applicant for violation of his fundamental rights,” the judge said.

The judge also ordered the respondents to pay N2 million as a cost for the action.

Mr Kundera, through his counsel, O. Orji, in suit no CV/6258/23, told the court that the applicant was invited, detained, and refused administrative bail in a matter decided already by an FCT high court.

He said that the subject matter was a plot of land at the foreign affairs quarters, which lawfully belonged to the applicant.

According to the applicant’s counsel, the matter is also pending at the court of appeal marked CA/ABJ/CV/533/2021 against the principle of pendente lite.

The applicant prayed for the order of the court to declare that the arrest and detention of the applicant from May 15 and May 16 was unlawful. He added that it was unconstitutional and a gross violation of the applicant’s fundamental rights as guaranteed under sections 35 (4)(5) and 36 (1) and (5) of the 1999 constitution as amended.

“A declaration that the respondents have exceeded their bounds by their continued invitation and threats on the applicant. An order restraining the respondents from the continued invitation, a threat to re-arrest and detain the applicant.

”Payment of the sum of N500 million as exemplary or aggravated damages is an unconstitutional, inexplicable, unjust, uncouth, and barbaric infringement of the applicant’s fundamental rights,” the applicant’s counsel said.

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BREAKING: Vinícius Rescues Brazil as Morocco Hold Selecao to Thrilling World Cup Opener

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BREAKING: Vinícius Rescues Brazil as Morocco Hold Selecao to Thrilling World Cup Opener—-Morocco stunned the five-time champions with an early breakthrough before Vinícius Júnior’s moment of brilliance earned Brazil a hard-fought 1-1 draw in Group C.

Brazil were forced to settle for a point in their opening match of the 2026 FIFA World Cup after a spirited Morocco side held the South American giants to a 1-1 draw in a captivating Group C encounter at MetLife Stadium.

The Atlas Lions struck first in the 21st minute when Ismael Saibari latched onto a perfectly weighted pass from Brahim Díaz before calmly lifting the ball over goalkeeper Alisson Becker to give Morocco a deserved lead. The African side’s intensity and organization troubled Brazil throughout the opening stages.

Brazil responded through their star man Vinícius Júnior, who produced a moment of individual brilliance in the 32nd minute. The Real Madrid winger drove into the box and unleashed a powerful finish beyond Yassine Bounou to restore parity and ignite the Brazilian supporters.

Despite enjoying more possession after the break, Brazil struggled to break down a disciplined Moroccan defence. Morocco, meanwhile, continued to threaten on the counterattack and arguably created the clearer opportunities in the closing stages.

The result leaves Group C finely poised, with both teams earning a valuable point in what was billed as one of the most anticipated fixtures of the opening round. While Brazil avoided an early setback thanks to Vinícius’ heroics, Morocco once again demonstrated why they remain one of the most dangerous sides on the international stage.

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Alpha Morgan Bank Delivers Historic N1.9 billion PBT in First 10 Months of Operations

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Alpha Morgan Bank Delivers Historic N1.9 billion PBT in First 10 Months of Operations

 

Alpha Morgan Bank has announced a landmark financial performance, recording Profit Before Tax of N1.9 billion in just 10 months of operations, a result that stands as a major milestone in Nigeria’s banking industry and reinforces the Bank’s emergence as one of the country’s most remarkable new-generation financial institutions.

With this performance, Alpha Morgan Bank did not only break-even within an exceptionally short period, but also delivered what is believed to be a record-setting early-profit performance in the Nigerian banking sector, underlining the strength of its strategy, the discipline of its execution and the confidence the market has placed in its business model.

The Bank’s strong debut performance was supported by robust growth across key financial and operating indicators. Highlights of the 10-month financial statement include customer deposit of over ₦103BN, gross earning of ₦13.1 billion, net interest margin of 67%, non-performing loan ratio of 0%.

The performance was driven largely by strong synergy in customer acquisition and branch expansion, a deliberate focus on growth in demand deposits, creation of quality risk assets and balance sheet efficiency. These achievements were further supported by robust operational processes powered by sound technology and systems, management depth and expertise, experience and strategic oversight provided by the Bank’s Board.

Speaking on the performance, the Managing Director, Ade Buraimo, described the result as a significant validation of the Bank’s vision, business model and execution capacity.

“This is more than a financial milestone; it is a strong statement of what is possible when vision, discipline, sound execution, and market opportunity come together. From inception, Alpha Morgan Bank was built to be a commercial bank that is solution-driven and committed to delivering value at scale. To record a PBT of N1.9 billion in our first 10 months of operations is both historic and deeply encouraging. It reflects the dedication of our people, the trust of our customers and the solid foundation we have laid for long-term growth.”

 

 

 

About Alpha Morgan Bank

Alpha Morgan Bank is a customer-centric, innovative, and solutions-driven commercial bank, with a clear commitment to delivering “Satisfying Banking.”

Alpha Morgan Bank commenced operations in March 2025 with the rare distinction of regulatory approval for 14 branches across the country. This early footprint, combined with disciplined market execution, has enabled the Bank to build momentum across key business segments in record time.

Alpha Morgan Bank focuses on:

  • Human-Centred Technology: Digital tools designed for intuitive, everyday relevance and not vanity metrics.
  • Transparent Operations: From pricing to service promises, every process is clear, accountable, and customer friendly.
  • Customer-Centric Innovation: Continuously developing solutions and services driven by customer insights to deliver meaningful value and enhance satisfaction.

More than a financial institution, Alpha Morgan Bank positions itself as a partner in progress. Its vision is to drive possibilities, enable dreams, and reemphasize what it means to experience Satisfying Banking in Nigeria.

More about Alpha Morgan Bank on www.alphamorganbank.com

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