Tag: 25 Banks

Organ harvesting: Ekweremadu, wife sue NIMC, NIS, banks

Abibat Babalola

Former Deputy Senate President, Ike Ekweremadu, and his wife, Beatrice, have sued the National Identity Management Commission (NIMC) and others over controversy surrounding the real age of David Ukpo, who was allegedly trafficked to the United Kingdom for organ harvesting by the couple. Others mentioned in the suit are the Comptroller General (C-G), Nigeria Immigration Service (NIS), Stanbic-IBTC Bank, United Bank of Africa (UBA), and Nigeria Inter-Bank Settlement System Plc as 2nd to 5th respondents, respectively. Ekweremadu and his wife were, on Thursday, remanded in the UK police custody, after…

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How IEDM Default in Polaris Bank Loan Caused Asset Takeover in IBEDC, 25 Banks – AMCON

Aliyu Aliyu

The Asset Man­agement Corpo­ration of Nigeria (AMCON) has given details of how it ex­ecuted the takeover of Integrated Energy Dis­tribution and Marketing (IEDM) Limited, the core investor of Ibadan Elec­tricity Distribution Com­pany (IBEDC), following a default in a loan servicing agree­ment executed with Polar­is Bank. Platforms Africa reports that the agency conveyed the change of baton in the electricity firm in a public notice, where it also disclosed that it had appointed Mr. Osayaba Giwa-Osagie (SAN) to take over the entire undertak­ings, assets of IEDM in­cluding shares and inter­ests in…

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