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Dr. ABC Orjiakor Over Alleged $101m Debt

JUST IN: Court Adjourns Further Hearing Of Bankruptcy Suit Against Dr. ABC Orjiakor Over Alleged $101m Debt

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JUST IN: Court Adjourns Further Hearing Of Bankruptcy Suit Against Dr. ABC Orjiakor Over Alleged $101m Debt—-Further proceedings in bankruptcy suit filed against Dr. Ambrose B. C. Orjiakor, before a Federal High Court, Lagos, over alleged inability to pay the debt of $101m USD, has been adjourned to July 23.

The presiding judge, Justice Deinde Dipeolu, fixed the date at the instance of the alleged debtor, Dr. Orjiakor, through his lawyer, Anthony Ndigbe (SAN), who pleaded for more time to settle the matter out of court.

Other Other respondents in the bankruptcy action marked FHC/L/BHK/08/2023 filed by Access Bank Plc are: Seplat Energy Plc; Helko Nigeria Limited; Neimeth International Pharmaceuticals Plc; Salvic Petroleum Resources Limited; Zebbra Energy Limited; Ordrec Group Limited; Helko Marine Services Limited; Berwick Nigeria Limited; Abbeycourt Petroleum Company Limited; Abbeycourt Energy Services Limited; Abbeycourt Company Limited and Pursley Resources Limited.

At the resumed hearing of the matter today, Mr. A. B. Ogunba (SAN) leading .. Ogunba appeared for the creditor, Access Bank Plc, Mr. Anthony Ndigbe (SAN) appeared for the alleged debtor, Dr. Orjiakor, Toyeeb Ipaye appeared for 2nd-5th and 7th to 12 respondents Bode Olanipekun (SAN) appeared for the 1st respondent, Seplat Energy Plc, Adam Wahab appeared for AMCON, Babatinde Olanipekun appeared for Zenith Bank Plc.

At today’s hearing, lawyer to the alleged debtor, Ndigbe (SAN) informed the court that the matter is listed for report of settlement, and that AMCON was directed by the court to coordinate the settlement meeting.

Responding, AMCON’s lawyer, Wahab told the court that his client received from the respondent a draft of the settlement which encompass the interest of the lenders in the suit.

He also told the court that he has made a comment on the draft to the respondent, while awaiting the reverse copy of the draft from the respondent.

In his respond, lawyer to the creditor, Ogunba (SAN) told the court that he was not aware of the draft copy of the settlement and that the draft has been drafted for the past four weeks.

Ogunba also informed the court of his motion on notice which he described as an ‘harmless’.

He therefore urged the court to allow him to move the motion.

However, Mr. Olanipekun (SAN), lawyer to Seplat, told the court he has a motion seeking out to strike the name of his client from the suit, on the basis that the court lacks jurisdiction over the first respondent.

In view of all parties’ submissions Dr. Orjiakor’s lawyer, Ndigbe (SAN) pleaded with the court for four weeks adjournment to allow the ‘narrow portion’ left in the settlement terms to be resolved. Though, Olanipekun (SAN) said he did not know anything about the settlement and have no business in the matter.

However, the presiding judge, Justice Dipeolu, after listening to all counsel, acceded to Ndigbe’s adjournment request and adjourned the matter to July 23, 2025, for report of settlement.

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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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