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Court Orders Tony Elumelu’s UBA To Pay N39.1m

Court Orders Tony Elumelu’s UBA To Pay N39.1m, $53,078 Illegally Withheld Customer Funds

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Court Orders Tony Elumelu’s UBA To Pay N39.1m, $53,078 Illegally Withheld Customer Funds—-For Tony Elumelu’s chaired United Bank for Africa Plc (UBA), it has become a case of “one day, one trouble” as the bank staggers from one issue to another.

Recall that just weeks ago, the Lagos State Police Command arrested four UBA officials for allegedly stealing £138,924 (over ₦270 million) from international airlines’ accounts. According to police investigations, the suspects reportedly conspired to siphon funds from domiciliary accounts into private accounts, subsequently redistributing them to multiple beneficiaries.

Just last week, the bank faced yet another controversy following an alarm raised by one of its customers, Ibhahe Hope Ehieribo. Ehieribo, a U.S.-based Nigerian, accused UBA of unlawfully clearing ₦106,309,534.87 from his savings account. The withdrawal, he said, was allegedly based on false claims that he had died while living abroad. Following public outcry and pressure on social media, UBA returned the full amount to Ehieribo.

This latest judgment adds to the mounting legal troubles surrounding UBA.

Delivering judgment on April 28, 2025, Justice Dehinde Dipeolu ruled that UBA must pay the specified sums, along with pre-judgment interest at 20% and post-judgment interest at 10% per annum, to the court-appointed Liquidator of the company.

The court also mandated that UBA produce certified statements of the company’s accounts spanning from November 2, 2021 — the date of the company’s winding-up commencement — to the date of the judgment.

The ruling followed an application filed by the Liquidator in the winding-up suit marked FHC/L/CP/1577/2021: Nduka Nwabuwa & 3 Ors v. Addy Finance & Investments Ltd. The Liquidator’s legal counsel, T.Y. Salman, accused UBA of unlawfully withholding the company’s funds despite existing court orders restraining withdrawals since March 30, 2022, and the formal appointment of a provisional liquidator on July 5, 2022.

According to court records, UBA’s own affidavit in previous proceedings confirmed that the accounts of Addy Finance with the bank held balances of N30,455,571.65, N8,652,845.56, and $53,078.04 at various dates. Yet, UBA allegedly failed to remit the funds or provide full disclosure to the Liquidator.

Justice Dipeolu sharply criticized UBA for failing to comply with its fiduciary obligations and attempting to rely on garnishee and interim forfeiture orders obtained after the winding-up proceedings had commenced—orders which the court declared null and void under Section 577 of the Companies and Allied Matters Act (CAMA) 2020.

The court also flagged multiple instances of dubious conduct by the bank: “Filing a sworn affidavit in November 2023 denying the existence of the funds, while simultaneously disbursing over N27 million to select creditors without informing the court or the Liquidator;

“Making secret settlements, including payments of N16 million to UBA staff, without involving the company, the Liquidator, or the Economic and Financial Crimes Commission, EFCC“;

“Failing to serve key documents (notably Exhibit ATO 6) on the Liquidator until after these transactions had been completed.

The judge held that as custodian of the accounts, UBA bore the burden of proving the non-existence of the balances.

The bank’s failure to do so, combined with its actions during the liquidation process, amounted to professional misconduct.

The court also criticized the conduct of UBA’s legal representatives during the case.

While granting most of the Liquidator’s reliefs, the court declined one request, citing vagueness in its formulation.

As UBA continues to reel from controversy to controversy, industry watchers say the court’s latest ruling raises renewed concerns over corporate governance, transparency, and internal controls at one of Nigeria’s largest financial institutions.

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APFSPN Set To Host Inaugural Town Hall Meeting And Induct New Members

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APFSPN Set To Host Inaugural Town Hall Meeting And Induct New Members

……APFSPN Town Hall Meeting and Induction of New Members Set for June 17

The Association of Professional Food Service Providers of Nigeria (APFSPN) has announced plans to host its Inaugural Town Hall Meeting and New Members Induction Ceremony on Wednesday, June 17, 2026, at the Professor Wole Soyinka Centre for Arts and Culture, Iganmu, Lagos.

The landmark event, themed “The Business Behind the Plate,” is expected to bring together stakeholders across Nigeria’s food service ecosystem, including caterers, restaurant owners, event food service providers, culinary professionals, food entrepreneurs, policymakers, and development partners to discuss the future of the industry and strengthen professional collaboration. 

Speaking at a media briefing ahead of the event, the newly elected President of APFSPN, Mr. Tobi Fletcher, said the Association was established to address the longstanding absence of structure, institutional support, and unified representation within Nigeria’s rapidly growing food service industry. 

According to him, despite being one of the most vibrant sectors of the economy, the food service industry has operated for too long without a coordinated voice capable of driving standards, recognition, and sustainable growth.

“APFSPN exists to professionalise the food service industry. We exist to give caterers, food vendors, restaurant owners, event food service providers, and every professional who works behind the plate a platform for growth, recognition, and collective strength.” — Tobi Fletcher, President, APFSPN

He explained that the theme of the event, “The Business Behind the Plate,” reflects the economic realities and entrepreneurial ecosystem surrounding food service delivery in Nigeria.

“Behind every plate of food served at an event, in a restaurant, or at a corporate function, there is a business, a dream, and a livelihood. More importantly, over 90 percent of our members are women who wake up every day to build sustainable businesses and contribute meaningfully to the economy. APFSPN is here to ensure that these businesses are supported, protected, and celebrated.” — Tobi Fletcher, President, APFSPN

Also speaking at the press briefing, the Vice President of APFSPN, Mrs. Ibidunni Layade, emphasised the Association’s commitment to capacity building and the welfare of its members. She noted that APFSPN is not merely a professional body but a support system designed to elevate the standards of food service delivery across Nigeria.

“Our members are the backbone of Nigeria’s hospitality and events industry. What APFSPN offers is a structured pathway for them to access training, mentorship, business development resources, and a community that understands their unique challenges. This Town Hall Meeting is the beginning of that journey — a space where every food service professional can have a voice and be heard.” — Ibidunni Layade, Vice President, APFSPN

Mrs. Layade further stated that the induction of new members at the event underscores the Association’s rapid growth and the hunger within the industry for formal recognition and collective representation. 

The Events Director of APFSPN, Ms. Temi Adelana, took the media through the programme of events for the Town Hall Meeting. She outlined a carefully curated agenda designed to combine ceremony, knowledge sharing, and networking.

“The event will commence at 9:00 AM with the arrival and registration of guests, followed by the opening ceremony, the presidential address, the keynote by our Guest Speaker, and the formal induction of new members. We have also incorporated panel discussions, an exhibition showcase featuring food service businesses, and structured networking sessions to ensure that every attendee leaves with tangible value and new connections.” — Temi Adelana, Events Director, APFSPN

Ms. Adelana added that the choice of the Professor Wole Soyinka Centre for Arts and Culture as the venue reflects the Association’s desire to position the food service industry within the broader narrative of Nigerian creativity, culture, and enterprise.

The event will also feature the formal induction of new members, reinforcing the Association’s commitment to building a professional body dedicated to excellence, ethics, innovation, and capacity development in Nigeria’s food service sector.

In further demonstration of the growing relevance of the Association, APFSPN disclosed that the event will attract international delegations and representatives from the Canadian Trade Commission and the Italian Trade Agency.

The Guest Speaker for the event is Former Minister of Information, Lai Mohammed; Aare (Dr.) Abisoye Fagade, DG/CEO of NIHOTOUR, while the Special Guest of Honour is High Chief Lai Labode, Aare Ona of Egbaland, and other top dignitaries.

With over 500 food service professionals and stakeholders expected in attendance, the event is positioned to become a defining moment for the industry and a launchpad for stronger institutional engagement.

Calling on the media to amplify the industry’s story, Fletcher described the gathering as more than an event.

“You are not merely covering an event; you are witnessing the beginning of a movement. We urge the media to help tell the story of the women and men who feed this nation and an industry that is ready to be recognised and taken seriously.” — Tobi Fletcher, President, APFSPN

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21-Year-Old Woman Dies After Staff Allegedly Forget Safety Rope During Brazil Bridge Jump (VIDEO)

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21-Year-Old Woman Dies After Staff Allegedly Forget Safety Rope During Brazil Bridge Jump (VIDEO)—-Tragic rope-jump accident in São Paulo leaves young woman dead as authorities detain six people and launch an investigation into safety failures.

A 21-year-old woman has died after being launched from a bridge during a rope-jump activity without being attached to the required safety rope in the Brazilian city of Limeira, São Paulo state. The victim, identified as Maria Eduarda Rodrigues de Freitas, fell approximately 40 metres after staff allegedly failed to secure her safety equipment before the jump.

The fatal incident occurred at the Ponte do Esqueleto trail, a popular destination for adventure sports enthusiasts. Video footage circulating on social media reportedly shows instructors carrying the woman to the jump platform before releasing her. Moments later, witnesses can be heard shouting that the rope had not been attached.

Emergency responders, including firefighters and paramedics, rushed to the scene but were unable to save her. She was pronounced dead at the site of the accident. Authorities say witness statements indicate a critical safety lapse may have occurred before the jump.

Brazilian police detained six individuals connected to the operation as investigators began examining the circumstances surrounding the tragedy. Reports indicate that some workers attempted to leave the area following the incident before being located by authorities.

The companies linked to the rope-jump operation have come under intense scrutiny as officials investigate potential negligence and safety protocol violations. The case has reignited debate over safety standards in Brazil’s growing extreme-sports industry.

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