Business
BREAKING: GHL FLOORS FIRST BANK IN COURT
Justice Dipeolu sets aside freezing orders against GHL, Judge Says First Bank suppressed relevant facts to secure Order.
In a landmark victory for General Hydrocarbons Limited, the Federal High Court in Lagos has set aside an order of Mareva injunction freezing the assets of the company and its directors.
The court, while upholding the arguments of GHL’s counsel, Abiodun Layonu, SAN as well as the arguments of Olumide Aju, SAN representing the 2nd to 5th defendants in the case held that the injunction violated an existing order from a court of concurrent jurisdiction.
In his ruling, Justice Dehinde Dipeolu, stated that when compared with an earlier order issued by Justice Ambrose Lewis-Allagoa in Suit No. 1953, the Mareva Injunction should be set aside.
The court found that First Bank of Nigeria and FBNQUEST LTD, at whose instance the order was procured, failed to fully disclose Justice Lewis-Allagoa’s order, which made the Mareva Injunction incompatible with the earlier ruling.
The court consequently agreed with GHL and the 2nd to 5th defendants that First Bank deliberately “suppressed facts” to mislead the court into granting the order against GHL.
The court in the circumstance, said it had no choice but to set aside the order freezing GHL accounts as well as the accounts of all the other defendants in the case.
First Bank had approached the court via an ex-parte application against General Hydrocarbons Limited and 15 other entities even when there was a subsiting judgement.
Responding to the suit, GHL and some of the defendants urged the court to discharge the order freezing its assets and accounts on the grounds that the court was misled in granting same.
The oil firm argued that the order was obtained through fraudulent misrepresentation and concealment of material facts.
GHL and other applicants accused First Bank of misleading the court to obtain orders against them.
They argued that had all the facts been presented before the trial judge, the order against them would not have been granted.
The trial judge upheld GHL’s arguments and consequently set aside the freezing order.
Meanwhile , GHL directors who were also negatively affected by the ex parte freezing order have begun proceedings worldwide against First Bank, seeking $1bn each in damages for defamation and wrongful freezing of their accounts.
GHL is also bringing a case in the Legal Practitioners Privileges Committee against First Bank lawyers, Babajide Koku, SAN and Victor Ogude SAN for unprofessional conduct.
Business
Following Lagos, FG moves to ban single-use plastics
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
The Federal Government has commenced the process to ban single-use plastics, inaugurating a committee to steer the policy.
Lagos government began fully enforcement ban on single-use plastics (SUPs), including styrofoam packs, plastic straws, disposable cups, plastic cutlery, and nylons less than 40 microns thick, on July 1, 2025.
The Office of the Secretary to the Government of the Federation (SGF) , yesterday , set up an Inter-Ministerial Committee on the Ban of Single-Use Plastics (SUPs).
Earlier, the Federal Executive Council (FEC) during its meeting on June 25, 2024, approved the ban , specifically targeting Polyethene Terephthalate (PET) bottles, styrofoam food packs, plastic shopping bags, sachet water packaging, and plastic straws.
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
He said: “The FEC decision was in line with the Federal Government’s efforts to tackle various health and environmental challenges, especially those caused by single-use plastic products and therefore, approved the ban in the country of polyethene terephthalate (PET) bottles, styrofoam, plastic bags, sachet water and straw, which has become an environmental sanitation challenge.”
Business
UBA commits $102m direct investments in Chad’s securities
Themed “Financing African Competitiveness – Building Bridges, Powering Progress,” the forum highlighted investment opportunities under Chad’s $30 billion Tchad Connexion 2030 development blueprint.
•Oliver Alawuba, GMD UBA
United Bank for Africa (UBA) Plc has announced a $102 million direct investment in the State of Chad’s securities in an efforts to strengthen economic growth and financial inclusion across Africa.
The announcement was made by UBA Group Managing Director/Chief Executive Officer, Oliver Alawuba, during his keynote address at the UAE–Chad Trade and Investment Forum held on Monday, November 10, 2025, in Abu Dhabi, United Arab Emirates.
Themed “Financing African Competitiveness – Building Bridges, Powering Progress,” the forum highlighted investment opportunities under Chad’s $30 billion Tchad Connexion 2030 development blueprint.
According to Alawuba, the $102 million investment underscored UBA’s confidence in Chad’s economic potential and demonstrates its long-term commitment to financing sustainable development on the continent.
“At UBA, our commitment is two-fold: we are both architects of national infrastructure and champions of grassroots financial inclusion,” he said. “Here in Chad, this is not a promise; it is a proven track record.”
Business
Dangote Fertiliser Limited Partners German’s Firm to License Four Urea Granulation Units
Commenting on the partnership, Nadja Haakansson, CEO of thyssenkrupp Uhde, said: “This partnership with Dangote Fertiliser Limited underscores our shared vision for sustainable industrial development and global food security.
Thyssenkrupp Uhde Fertilizer Technology (UFT), a subsidiary of thyssenkrupp Uhde, has entered into a strategic agreement with Dangote Fertiliser Limited (DFL) to license its advanced UFT Fluid Bed Granulation Technology for four new urea granulation units in Nigeria.
The agreement includes the provision of the technology license, a comprehensive Process Design Package (PDP), and the supply of proprietary equipment such as granulators and scrubbers.
Each of the four new units will have a nameplate capacity of 4,235 metric tons per day, significantly boosting DFL’s annual urea granule production from approximately 2.65 million tons to over 8 million tons.
These units will be constructed in Lekki, adjacent to DFL’s existing fertilizer complexes, which have been operating with UFT technology since 2021 and produce 3,850 metric tons per day each.
The new facilities will incorporate UFT’s energy-efficient scrubbing system, designed to minimize pressure drop while effectively controlling dust and ammonia emissions to meet stringent environmental standards.
Additionally, the plants will feature the Ammonia Convert Technology (ACT), which integrates ammonium sulfate byproducts into the urea granules, eliminating waste streams and offering logistical and commercial advantages.
Commenting on the partnership, Nadja Haakansson, CEO of thyssenkrupp Uhde, said: “This partnership with Dangote Fertiliser Limited underscores our shared vision for sustainable industrial development and global food security.
By deploying our proven UFT®️ Fluid Bed Granulation Technology, we are setting new standards in efficiency and environmental stewardship in fertilizer production. We are proud to support DFL in building resilient and future-ready value chains.”
In the same vein, President of Dangote Group, Aliko Dangote, said: “We are pleased to deepen our collaboration with thyssenkrupp Uhde Fertilizer Technology for the expansion of our fertilizer operations in Lekki.
This initiative reflects our commitment to agricultural self-sufficiency and industrial progress across Africa.
With UFT®️ technology, we are ensuring the production of high-quality urea fertilizer that meets global standards while reducing environmental impact.
This investment further positions Nigeria as a leading fertilizer producer.”
Dangote Fertiliser Limited is one of Africa’s largest fertilizer producers, committed to enhancing agricultural productivity and supporting food security across the continent while thyssenkrupp Uhde’s UFT®️ Fluid Bed Granulation Technology is recognized globally as one of the most advanced solutions for producing urea granules.
Currently, over 70% of the world’s urea granule output is produced using this technology, contributing significantly to global food supply while maintaining emissions well below regulatory limits.
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