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Princess Toyin Kolade Asks Court To Clear Her Name In $32million Fraud Case

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Top businesswoman and Iyalaje Oodua, Princess Toyin Kolade has began moves to clear her name and that of her company in an alleged $32million fraud case.

The amiable society lady who has consistently declared her innocence since the story broke has instructed her lawyers to file application seeking to quash criminal charges which is being heard by Justice Peter Lifu of Federal High Court, Lagos.

Her lawyer, Mr Dele Adesina SAN had filed a motion before the court asking the court to quash the charge preferred, against the Princess Kolade who is the 7th and her company, Fisolak Global Resources, the 10th Defendants/Applicants. In the alternative, he seeks the court to strike out the names of the 7th and 10th defendants in the charge for the following reasons:

According to the learned silk, the Charge and the proof of evidence failed to disclose any prima facie case and/or link or connect the 7th and 10th Defendants/Applicants to the commission of the alleged offences charged.

The Police Investigation Report Issued by the Commissioner of Police, Police Special Fraud Unit (PSFU), Force Criminal Intelligence and Investigation Department, Annex, Lagos which formed the basis of the Criminal Prosecution did not implicate the 7th and 10th Defendants/Applicants in any way or form.

The Police Investigation Report sufficiently cleared the 7th and 10th Defendants/Applicants from the commission of the alleged offences.

The 7th Defendant/Applicant is a clean, clear and responsible personality in the Society and it will be unfair and unjust to drag her name and that of her Company (the 10th Defendant/Applicant) doing a lawful business into a criminal trial for offences they know nothing about.

The essence of this objection is to terminate the proceedings without this Honourable Court dissipating unnecessary energies to consider this unworthy and fruitless matter as it relates to the 7th and 10th Defendants/Applicants.

The justice of this case demands that the names of the 7th and 10th Defendants/Applicants be struck out from the charge.

The 7th and 10th Defendants/Applicants shall rely on the charge together with all other processes, Statements, Reports and documents filed by the prosecution in this case for the hearing of this application.

In a 24 paragraph affidavit deposed to by Abdul-Malik Abdul-Mutalib, a lawyer in Adesina’s law firm, the defendants have been doing clearing Business at the NPA for many years without any blemish or stain whatsoever. “The Defendants/Applicants are Natural and Corporate Citizens doing honest, lawful and responsible clearing business with sustained credibility in Nigeria.

In this particular case, the defendants averred that they were never privy or parties to the loan application, negotiation and agreement as they were not the parties that applied for the facility granted by either the Access Bank or the FCMB, neither were they beneficiaries at any point in time of the said facilities.

He averred further that the defendants were contacted by the eighth defendant, Metal Africa Steel Products to clear their goods it imported. The consignment bears the name of Metal Africa Steel Products Limited (the 8th Defendant) as the Consignee of the goods to be cleared, and by the ordinary course of business, the name of the consignee must be processed in the Pre-Arrival Reassessment Report (PAAR).

“Form C 16 titled “The Combined Certificate of Value and Origin” (CCVO), which is invoice number CF/96954 of 7th April, 2016 confirms the name of the 8th Defendant as the Consignee of the Steel Billets.
The consignment did not bear the Name of Access Bank Plc or any bank at all. The usual trade practice in clearing business at the Port Authority is that if a consignment is in the name of a Bank, no clearing agent or person has the right/power to clear such consignment without express order or authorization of such Bank as the consignee.

Since the documents were not in the name of the bank, there is no way the 7th and 10th Defendants could have known. Indeed there is no way any clearing agent would have known it belonged to a bank.

He therefore urged the court to grant the prayers saying that “the whole essence of the Administration of Criminal Justice System is to prosecute genuine suspects and or offenders and not to persecute the Innocent such as the 7th and 10th Defendants/Applicants. “the purpose of justice would be defeated if the 7th and 10th Defendants/Applicants are compelled to stand trial in this case for offences that the 7th and 10th Defendants/Applicants know nothing about and for which indeed there are no links connecting the 7th and the 10th Defendants/Applicants to the commission of the alleged offences”.

The office of the Attorney-General of the Federation (AGF) had dragged Princess Kolade, her company, Fisolak Global Resources Limited, and nine others before the court on charges bordering on Conspiracy, Obtaining by false pretence and fraud of $32 million USD.

Other defendants in the charge are; four India Nationals, Prem Garg, Devashish Garg, Bhagwan Simgh Rawat and Mukul Tyagi and two Britons, Marcus Wade and Andrew Fairie, said to be at large.

Also, four companies: Metal Africa Steel Products Limited, Wilben Trade Limited, Fisolak Global Resources Limited and Kannu Aditya India Limited, were also charged before the court on the alleged offences.

 

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Dominican University Hails Peter Obi on 65th Birthday

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The Dominican University, Ibadan, has paid glowing tribute to its Pro-Chancellor and former Governor of Anambra State, Mr. Peter Obi, on his 65th birthday, describing him as a visionary leader whose commitment to education, youth development and national progress continues to inspire generations of Nigerians.

In a goodwill message issued on Sunday, the Vice-Chancellor of the university, Prof. Jacinta Opara, lauded Obi’s enduring passion for quality education, noting that his consistent investments in human capital and advocacy for educational excellence have strengthened institutions and offered hope to young people across the country.

According to Opara, Obi has, through his public service and private engagements, remained a steadfast champion of education, making it a cornerstone of his vision for national development.

She said his words, actions and unwavering support for learning had reinforced the conviction that education remains the most effective instrument for building a prosperous, inclusive and sustainable society.

The university also expressed appreciation for Obi’s contributions to the institution as Pro-Chancellor, describing his leadership, generosity and guidance as instrumental to its growth and development.

The statement noted that under his stewardship, Dominican University has continued to pursue academic excellence while remaining committed to its mission of producing morally upright and globally competitive graduates.

It read in part: “As a university founded a decade ago on the rich 800-year educational heritage of the Order of Preachers (Dominicans), we remain profoundly grateful for your visionary leadership, generous support and invaluable contributions as our Pro-Chancellor.”

The institution joined family members, associates and well-wishers in celebrating Obi’s milestone, praying for continued good health, wisdom, strength and divine guidance as he continues to advocate good governance, human dignity, hope and national development.

The message, signed by the Vice-Chancellor, reaffirmed the university’s pride in its association with Obi, whose dedication to education, integrity and selfless service, it said, continues to leave a lasting impact on the nation and inspire future generations.

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Ooni of Ife Loses Elder Brother Prince Adetunji

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The Ooni of Ife, Oba Adeyeye Ogunwusi, Ojaja II, has announced the passing of his immediate elder brother, Prince Adetunji Ogunwusi.

The monarch made the announcement in a statement released on Sunday through the Director of Media and Public Affairs at the Ooni’s Palace, Sodiq Lawal.

Describing the late prince as a respected businessman and compassionate leader, the Ooni said Prince Adetunji lived a life dedicated to service, humility and the wellbeing of others.

According to the statement, the death of Prince Adetunji has left a deep void in the Ogunwusi family, the Ojaja Royal Dynasty and the entire Ile-Ife Kingdom.

Prince Adetunji, who was born on December 8, 1967, was a member of the Ojaja lineage of the Giesi Ruling House in Ile-Ife. He was also the Group Chairman of Primewaterview Holdings, where he earned recognition for his contributions to business development and entrepreneurship.

The Ooni noted that his late brother built a reputation as an innovative entrepreneur and visionary leader. Through his business activities, he created opportunities for many people and contributed to economic growth in different sectors.

The monarch further stated that beyond his achievements in business, Prince Adetunji was known for his generosity, kindness and commitment to humanitarian causes. He was said to have quietly supported many individuals and families, offering assistance, guidance and encouragement whenever needed.

The statement added that Prince Adetunji’s influence extended beyond the corporate world, as he remained deeply connected to his roots and maintained a strong interest in the progress and development of Ile-Ife and its people.

The Ooni described his late brother as a dependable adviser, a loving family member and a man whose legacy would continue to inspire future generations.

Family members, friends, associates and well wishers have continued to pay tribute to the late prince, remembering him for his humility, wisdom and positive impact on society.

The palace said further details regarding funeral arrangements and other ceremonies would be announced by the family in due course.

Prince Adetunji’s death marks a significant loss to the royal family and the people of Ile-Ife, who will remember him for his service, leadership and dedication to humanity.

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Harakati Za Holds Pan-African Conference on Economic Restructuring, Political Reforms, Regional Integration in Accra

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More than 200 delegates from across Africa are expected to converge in Accra on July 24, 2026, for an international conference on “Economic Restructuring, Political Reforms and Integration for Sustainable Development in Africa.”

The conference, organised by Harakati Za Muungano, will take place at the GNAT Hall and will bring together policymakers, academics, business leaders, traditional authorities, civil society organisations, youth leaders and development partners to explore practical solutions for accelerating Africa’s development through deeper regional integration.

Harakati Za Muungano, a Swahili phrase meaning “Union Movement,” is a pan-African movement committed to promoting African unity, economic transformation and governance reforms that support sustainable development.

The organisation believes that Africa’s vast human and natural resources can only be fully harnessed through stronger regional cooperation, enhanced intra-African trade and governance systems that place the continent’s long-term development at the centre of public policy.

Since its establishment in November 2023, the movement has expanded its operations to 17 African countries, engaging governments, regional institutions, traditional leaders, professionals, youth groups and community organisations.

Its work focuses on policy advocacy, research, civic engagement and humanitarian initiatives aimed at fostering inclusive development, strengthening regional cooperation and encouraging reforms that improve the quality of life of Africans.

The conference will provide a platform for participants to deliberate on critical issues affecting the continent, including constitutional reforms, economic restructuring, regional market integration, industrialisation, governance continuity and sustainable financing models for development.

Organisers expect the discussions to produce practical recommendations that can inform policy decisions at both national and regional levels.

A major focus of the conference will be the movement’s vision of a more integrated Sub-Saharan Africa where barriers to trade and movement are reduced, economic collaboration is strengthened and governments adopt policies that encourage long-term planning, investment and shared prosperity.

The organisation believes that greater integration will unlock new opportunities for businesses, create jobs, promote industrial growth and enhance Africa’s global competitiveness.

Organisers say the conference represents an important opportunity for African leaders and stakeholders to collectively examine bold and innovative approaches to the continent’s future.

With over 200 delegates expected from across the continent, the event is anticipated to foster meaningful dialogue, strengthen partnerships and advance a shared vision of an economically resilient, politically stable and fully integrated Africa.

-Overseeronline.com

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