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We Have Done No Wrong, GIC Oil and Gas Services Limited Debunks Alleged Fraud

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The GIC Oil and Gas Services Limited has denied claims made by some online publications (not The Boss Newspaper) that the company and its CEO, Godwin Ebolo, defrauded a Nigerian bank.

A statement made available to journalists on by the Group General Manager, GIC Oil and Gas Services Limited, Rotimi Olarewaju, stated as follows:

“Our attention has been drawn to some online publications wherein certain facts about our organisation and Managing Director, Gowin Ebolo, were misstated. Owing to this development, it has become consequent upon us to set the record straight for the general public.

“We are calling on all responsible Nigerians to refrain from making untrue assertions about GIC Oil and Gas Services Limited and its Managing Director, Gowin Ebolo, as the facts of this issue is a matter of public record and any and everyone is welcome to it.

“We have resolved that this press release will be our last action on explaining the matter, but we shall not hesitate to prosecute further libellous statements on this issue as it damages the companys reputation and its good standing with its various partners foreign and local.

“In 2013, GIC Oil and Gas Services Limited approached Heritage Bank Plc for a loan totalling US $13.5 million divided into $3.5 million working capital and $10 million bank guarantee to facilitate a waste management contract for Allied Energy Plc.

“We also approached Enterprise Bank in the same year for a thermal desorption plant and waste management equipment in the amount of UD$8 Million for a Shell Petroleum Development Company of Nigeria Limited (SPDC) contract.

“Both facilities were approved and disbursed with GIC Oil and Gas Services Limited contributing ten per cent (10%) in equity for the equipment purchase. The items were bought and paid for pending the commencement of the SPDC job.”

According to Olanrewaju, “It is worthy of note that Enterprise Bank later merged with Heritage Bank and the loans were consolidated.

“With extended delays in the commencement of the project, the bank grew increasingly anxious and thus the issues on the loan availed began.

“As the commencement date of the SPDC project was not yet ascertained at that time due to circumstances beyond our control, the bank took possession of the equipment purchased with the loan facility.”

The statement further noted that “Once the bank realised that these equipment, being project specific, were of no use to both them and GIC Oil and Gas Services Limited without the project, they immediately recalled their loan facility and requested for immediate full payment.

“On the Allied Energy Project, a change in management led to the cancellation of the project completely. Sadly, an occupational risk in our industry.

“Since our finances are always tied to individual projects, the bank was made aware that repaying the loan facility without project commencement would be extremely difficult, but we were willing to agree to a scheduled repayment structure.

“During this period, GIC Oil and Gas Services sought to negotiate a settlement with the bank and while this was ongoing, Godwin Ebolo left the country because of a medical emergency.

“It was at this point we became aware that the loan facility had been reported to the Economic and Financial Crimes Commission (EFCC) by the bank and Ebolo was immediately declared wanted without invitation or notice.

“On finding out that Ebolo was declared wanted by the EFCC, he immediately returned to the country and presented himself to the EFCC wherein the unfortunate mug-shot was taken.”

“Olanrewaju said that Several court proceedings later, the fraud case was dismissed by the Justice A.I. Iyayi-Lamikanra of the Rivers State High Court (attached is a copy of the judgment Suit No.: PHC2631/2016).

“Ebolo was subsequently cleared by the EFCC vide their letter Ref: CR:3000/EFCC/LS/PFS/C/VOL3/033 dated October 6, 2016 and communicated to the various security agencies accordingly.

“Finally, we would like to state that a repayment structure of the outstanding facilities has been mutually agreed by GIC Oil and Gas Services Limited and Heritage Bank Plc. The repayment which has since commenced is being made from contract proceeds from the SPDC job.”

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Leatherworld: A Masterclass in Enduring Excellence

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Leatherworld defines what it means to be classy. And it has confidently taken the higher road. For more than three decades, it has not merely sold furniture — it has demonstrated what class truly means in business: integrity in craftsmanship, consistency in service, and vision in growth. And as its name, “Leatherworld” implies, it is a world of its own.

Founded in 1994 to meet the demand for high-quality furniture in Nigeria, Leatherworld began as a retail outlet focused on premium pieces through partnerships with Italian luxury brands. However, it has now upped its ante, spreading its tentacles with showrooms in Victoria Island and Lekki Lagos, and also in Abuja in the Federal Capital Territory.

At a time when durability was often sacrificed for cost and quick turnover, the company made a deliberate decision: it would never compromise quality to cut corners. That principle has remained its compass ever since.

This is indeed the story of Leatherworld. For over 30 years, it has defined what luxury furniture means in Nigeria. It is not just a brand, it has consistently stood for one core principle: quality that lasts.

The company’s commitment to seasoned hardwood, aged for up to seven years before production, speaks to a patience that is rare in modern manufacturing. Indeed, its furniture is designed not for seasons, but for decade

Its growth has been matched by recognitions and honours from far and wide. Notable among some of these awards and recognitions are; international honours such as the Quality Summit New York International Award for Excellence (2013) to multiple awards from reputable organisation such as; the Nigerian National Assembly 2004 Awards, Furniture and Allied Products Manufacturers Association of Nigeria Award (2008), Interior Designer Association of Nigeria, IDAN, Award (2012). Indeed, Leatherworld’s name has become synonymous with leadership in interior décor and furniture manufacturing.

But beyond awards and expansion, it is its customer loyalty that tells the real story. For many clients, the Leatherworld experience begins long before the furniture is delivered.

The brand has earned respect across borders. But class is not proven by trophies alone. It is revealed in everyday interactions. Customers consistently describe professional staff, meticulous delivery teams, and after-sale technical support that is “second to none.”

From custom requests handled with speed and care to full-room assemblies executed with precision, Leatherworld treats service as part of the product itself.

Many customers attest to owning Leatherworld pieces for over 30 years — still structurally sound, still comfortable, still elegant. In a marketplace often flooded with disposable options, that kind of longevity is not accidental; it is intentional. This explains why the customers of Leatherworld attests to the durability and high quality of its products.

“I really enjoyed my shopping experience,” says Anita Ajah, who visited the Lagos showroom. “Their customer service was unlike anything I have experienced in Nigeria.”

Diana Ufuah shares a similar sentiment. “Leatherworld is the very best in terms of quality. I bought a sofa there and it is extremely comfortable and durable. What I also find intriguing is their customer service. My family and I were treated like royalty while shopping.”

It is a recurring theme – professionalism, warmth, and attention to detail.

Oluwole Adekoya describes the experience as “first-class quality furniture reasonably priced,” recommending the brand to anyone “with a dimension for taste.”

Kunle Adegbite highlights the end-to-end service: “I found exactly what I was looking for. Not only were the choices incredible, the service was outstanding. I requested their operations team to assemble my living room and they were quick, professional, and executed it beautifully. I couldn’t ask for more.”

Chioma Okonkwo, a long-standing client is more effusive in her review: “You only get bored with the same furniture but the thought of the new price you will pay keeps you loving your FOREVER furniture from Leatherworld!”

Those testimonies indeed speak volumes. Still, Leatherworld has not dithered from its vision to revolutionise the furniture and interior design industry in Nigeria and West Africa. And its message is simple: quality furniture is not a cost — it is an investment. You choose once. You choose well. You buy for life.

Leatherworld’s aesthetic draws inspiration from the elegance of Florence and the opulence of Nigerian culture — a fusion that respects global sophistication while celebrating local identity.

Its collections range from classical and neo-classical to contemporary and simple-line designs, ensuring that individuality is never compromised.

In doing so, the company has positioned itself not just as a seller of furniture, but as a curator of lifestyle — crafting pieces that define spaces for scholars, business leaders, families and discerning homeowners alike.

In business, class is consistency when no one is watching. It is honouring promises made decades ago. It is building products that outlive marketing campaigns. It is choosing long-term reputation over short-term gain.

In a competitive industry where shortcuts are tempting and compromise is common, Leatherworld has shown that real class lies in endurance — of materials, of service, of vision and of trust.

And in doing so, it has not only furnished homes across Nigeria and West Africa; it has furnished an example of how a company can grow, lead, and still remain grounded in excellence.

Bimbo Alashe, as the founder and CEO of Leatherworld Furniture Company, leads the international furniture retailing assemblage and manufacturing company in Nigeria. The company offers top quality leather furniture and accessories in wood, glass, marble, and other authentic and elegant materials, establishing a reputation for excellence in craftsmanship and design.

She is one of the most formidable entrepreneurs in Nigeria. Beyond building her company, she sits on the board of several companies and serves as a mentor to a number of aspiring and established entrepreneurs, sharing her experience and insight to help others grow.

Her story is not the typical one of a person who grows from old money. Alase had to create her story herself, making her way from the rough early days of owning a small mini-store to the point where she became a mega business owner through determination and persistence.

When Leatherworld was established, it entered the furniture space to redefine luxury and class. The business created an opportunity for her to explore her love for creativity, guided by a straightforward vision — to make high-quality furniture available to everyone.

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Tinubu, Atiku, Obi Felicitate with Muslim Ummah, Nigerians at Eid-el-Fitr

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By Eric Elezuo

The three frontline political leaders in Nigeria; President Bola Tinubu, Alhaji Atiku Abubakar and Mr Peter Obi, have in separate messages call for the strengthening of security, sustenance of the spirit of goodwill imbibed during Ramadan as well as kindness among Nigerians as the Muslim Ummah celebrate the 2026 Eid-el-Fitr.

The messages are in response to the successful completion of the 30-day fasting – a period of dedication, sacrifice, spiritual renewal and stocktaking – which end birth the Eid-el-Fitr celebration.

Leading the avalanche of messages, President Tinubu, through a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga, reiterated the need to lead a pious life seasoned by empathy and unity among humankind.

He noted that though the Ramadan season is over, but the lessons of piety, selflessness, perseverance, kindness and compassion, which the period is known, must consistently be the watchword of every Nigerian.

The message is captured in details below:

As Muslims worldwide celebrate Eid-el-Fitr, marking the end of Ramadan, President Bola Ahmed Tinubu has congratulated the Muslim faithful in Nigeria, urging renewed commitment to the nation and humanity.

President Tinubu enjoined Nigerian Muslims to rededicate themselves to the noble teachings of the holy month, which emphasize piety, empathy, and unity among humanity.

“We have a lot to draw from the noble lessons of Ramadan, especially at a time like this. We must continue to abide by the virtues of piety, selflessness, perseverance, kindness and compassion beyond this period,” he said.

President Tinubu urged all Muslim faithful to extend a hand of kindness to the needy of all faiths, to further show unity and camaraderie.

The President also tasked Muslim leaders to use the occasion to offer prayers for peace and prosperity to prevail in the country.

In the same vein, former Vice President of Nigeria and chieftain of the African Democratic Congress (ADC), Atiku Abubakar congratulated the Muslim faithful in Nigerian and across the world on the successful completion of the mandatory Ramadan fasting, and the celebration of the Eid-el-Fitr.

A press statement signed by the media office of the former Vice President, admonished Muslims to remain steadfast in piety by maintaining peace and in charitable causes.

According to Atiku, the completion of the obligatory fasting in the noble month of Ramadan should lead to more commitment to the injunctions of Almighty Allah.

“The completion of the Ramadan fasting is a call to duty that ensures we sustain the good deeds that the noble month requires of us.

“We must ensure that the lessons of the month are not lost on us and that the celebration of today is a reminder to the people, especially Muslims, to follow in the tradition of the noble Prophet Muhammad (SAW) in seeking closeness to God through worship and maintaining peace,” Atiku said.

He further called on the government to take it more seriously, stressing that “the protection of the lives and property of citizens is a divine decree and the sole responsibility of every government.”

Atiku similarly enjoins the privileged in the society to keep providing charity to the less privileged as this would go a long way in ensuring that the rising tide of economic downturn does not weigh too heavily on the poor.

“A greater number of people are being crushed by the economic downturn and global events in the past three weeks have further exacerbated the situation. It is incumbent on the wealthy to be more compassionate by taking up the responsibility of charity to help cushion the effect of the burden on the poor,” Atiku said.

Also lending his voice the congratulatory messages, Labour Party’s former presidential candidate, and former Governor of Anambra State, Peter Obi, urged Nigerian Muslims to imbibe the spirit of Ramadan going forward even as the 30-day fast has officially ended.

“I join you with heartfelt joy as we celebrate Eid al-Fitr, the blessed festival that marks the successful completion of the sacred month of Ramadan.

“This occasion is a profound reminder of the power of faith, discipline, selflessness, and unwavering devotion to Almighty Allah.

“Throughout Ramadan, you have fasted, prayed, given charity, and drawn closer to God, embodying values that inspire not only the Muslim ummah but every person of goodwill. These lessons of compassion, humility, patience, and solidarity must not end with the month; may they continue to guide our hearts, our actions, and our shared life as Nigerians.”

Many other prominent Nigerians and institutions have also identified with the Muslims in celebration, drumming the lesson of service, patriotism, piety and above unity of purpose to the hearing and learning of all and sundry.

The Eid-el-Fitr is the grand finale of the Muslim 30-day fasting period, popularly known in Islam as Ramadan. It is a yearly spiritual exercise.

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TEF Entrepreneurship: Tony Elumelu Foundation Sets March 22 to Announce 2026 Cohort

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The Tony Elumelu Foundation (TEF), the leading philanthropy empowering young African entrepreneurs will announce the 12th cohort of the flagship TEF Entrepreneurship Programme on Sunday, March 22, 2026.

In 2026, the Foundation will empower a total of 3,200 entrepreneurs across all its entrepreneurship programmes:
1,751 entrepreneurs through Heirs Holdings Group: Heirs Energies, Transcorp Power, Transcorp Hotels, and United Capital; 1,049 entrepreneurs in partnership with the European Commission, OACPS, BMZ and GIZ; 100 entrepreneurs in partnership with Sèmè City Development Agency; 100 entrepreneurs in partnership with DEG, the German Development Agency; 100 entrepreneurs in partnership with the IKEA Foundation, UNICEF’s Generation Unlimited and the Dutch Government; and 100 entrepreneurs in partnership with UNDP and the Rwandan Ministry of Youth and Arts.

Applications to the flagship programme were received from over 265,000 young Africans, representing all 54 African countries, underscoring Africa’s vibrant entrepreneurial sector and the funding challenge for entrepreneurs. The new cohort will join the TEF Alumni community of more than 24,000 entrepreneurs.

The selection process is conducted by Ernst & Young, ensuring an independent and rigorous assessment of applicants.

Each selected Tony Elumelu Entrepreneur will receive $5,000 in non-refundable seed capital, access to world-class business management training on TEFConnect, one-on-one mentorship, and entry into a powerful network of investors, partners, and other entrepreneurs.

The Tony Elumelu Foundation has empowered over 2.5 million young Africans with access to business management training on our proprietary digital hub, TEFConnect, and disbursed over US$100 million in seed capital to more than 24,000 selected entrepreneurs. Collectively, these entrepreneurs have generated $4.2 billion in revenue and created more than 1.5 million direct and indirect jobs. Through our support for African entrepreneurs, TEF has lifted 2.1 million Africans above the poverty line, and positively impacted more than 4 million African households, with 46% of supported entrepreneurs being African women.

Ahead of the upcoming announcement, Tony O. Elumelu, C.F.R., Founder of the Tony Elumelu Foundation, reiterates his unwavering belief in the potential of Africa’s entrepreneurs:

“The future of Africa will be built by Africans who create businesses, generate jobs and solve the challenges of our continent. At the Tony Elumelu Foundation, we believe that empowering entrepreneurs is the most sustainable path to Africa’s economic transformation.

I look forward to announcing and congratulating the 2026 cohort of Tony Elumelu Entrepreneurs and look forward to witnessing the impact they will create across our continent.”

The general public is invited to join, virtually.

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