Business

N10million Damages: EFCC Appeals Judgment Against Agunloye

Published

4 months ago

July 12, 2026

The Economic and Financial Crimes Commission, EFCC, has filed a notice of appeal at the Court of Appeal, Abuja, against the judgment of Justice Peter Kekemeke of the Federal Capital Territory, FCT, High Court, Abuja, finding it liable for defaming former Minister of Power, Olu Agunloye over a social media publication of an alleged $6billion Mambilla Power Project fraud.

The Notice of Appeal was filed on Friday, July 10, 2026 by counsel to the EFCC, Wahab Shittu, SAN.

In the appeal contained in Suit No: FCT/HC/CV/1199/2024, the EFCC expressed dissatisfaction with the “whole of the judgment of the High Court of the Federal Capital Territory, sitting at Maitama, Abuja, Coram: Hon. Justice Peter O. Kekemeke, delivered on the 8th day of July, 2026….”

Specifically, the appeal was hinged on 11 grounds and four different orders. The orders the Commission is seeking in the appeal, are orders allowing the appeal, setting aside the whole of the judgment, dismissing Agunloye’s claim before the trial court in entirety and any other order the court may deem fit to make in the circumstances of the appeal.

Justice Kekemeke had declared in his judgment that the EFCC’s publication on Agunloye was false, defamatory and injurious to the former Minister’s reputation and awarded N10 million in damages against the Commission.

Shittu, in the appeal, also filed a stay of execution of the judgment of the trial court.

No date has been fixed for the hearing of the appeal.

Related Topics:Agunloye Appeals damages EFCC Judgment N10million

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Business

Insurance Sector Holds Biggest Untapped Opportunities in Nigeria’s Economy — Akinwunmi

Published

5 hours ago

October 26, 2026

PlateauReports

*Insurance Sector Has Biggest Untapped Opportunities In Nigeria’s Economy, Says Akinwunmi*

Investment expert and Chief Economist, United Capital Plc, Mr Ayodele Akinwunmi, has said that Nigerian Insurance sector has one of the biggest untapped opportunities among other sectors of the economy.

Akinwunmi, who stated this while presenting a key note address on Post – Recapitalisation and Market Dynamics in Insurance and Pension Sectors at the Annual National Conference of the Nigerian Association of Insurance and Pension Editors (NAIPE), noted that, the winning insurers in Nigeria’s next decade would be those who deploy capital into underwriting excellence, inclusive products, digital infrastructure and productive long-term investment, not those who simply hold the largest balance.

He noted that, at 0.4 percent to 0.5 percent of GDP, Nigeria’s insurance penetration was one of the lowest in the world and that made it one of the biggest untapped opportunities.

He said, a post -recapitalisation transmission mechanism in Nigeria’s insurance industry would witness stronger insurers, deeper markets and a more resilient Nigeria.

According to Akinwunmi, with recapitalisation, there will be stronger capital and risk- based solvency which would give rise to higher minimum capital and stronger balance sheets, compliance with risk- based capital requirements as well as greater resilience to shocks.

He also said, with the new capital,Nigerian underwriters would have the ability to underwrite larger and more complex risks, retain greater portion of domestic risks, they would reduce reliance on foreign reinsurers as well as provide support for key sectors such as energy, infrastructure, SMEs, retail and agriculture.

He further noted that, with the new capital, the industry would witness the use of digital platforms and wider distributors, data driven pricing and underwriting , introduction of innovative products for micro, retail , parametric , Takaful and other specialised Products .

He further said, in the face of the new capital, the operators’ services would be automated and straight- through claims processing as well as improved customer experience and operational efficiency.

The post Insurance Sector Holds Biggest Untapped Opportunities in Nigeria’s Economy — Akinwunmi appeared first on Business Today NG.

Business

CBD COP17: Namibian Biosafety Expert Martha Kandawa-Schulz dies in Yerevan

Published

13 hours ago

October 26, 2026

PlateauReports

Martha Kandawa Schulz Namibia SBSTTA28 31july2026 photo.jpg

Martha Kandawa-Schulz, Namibia’s Cartagena Protocol National Focal Point, died in Yerevan, Armenia, while participating in the ongoing United Nations Biodiversity Conference (CBD COP17).

Ms Kandawa-Schulz, a professor, died on 23 October, according to a statement the Convention on Biological Diversity (CBD) Secretariat issued Sunday evening.

She was serving as Co-Chair of the Contact Group on Risk Assessment and Risk Management of Living Modified Organisms at the conference.

In a message to delegates, the Secretariat described her as a highly respected colleague whose dedication, expertise, and leadership contributed significantly to the Convention and its Protocols, as well as to the global biosafety community.

It said her commitment and collegiality had earned her the respect and appreciation of colleagues who had the privilege of working with her.

The Secretariat extended its condolences to her family, friends, colleagues, and the Government and people of Namibia.

It also expressed sympathy to the African Group and others mourning her death.

“The Presidency and the Secretariat are working closely together to support her family and the Namibian delegation on site, and to facilitate the necessary arrangements,” the statement said.

The Secretariat also announced that a book of condolences would be available to delegates from 13:00 on Monday at Entrance 2, near the Asia-Pacific Room, for those wishing to pay their respects.

It urged delegates to honour Ms Kandawa-Schulz’s memory and recognise her contributions to the shared objectives of the Convention.

ALSO READ: CBD COP17: Nigeria, six others each win $50,000 grant for biodiversity projects

The circumstances surrounding her death were not stated, although reports indicate that she collapsed during her engagement in the working group meeting on Friday.

CBD COP17 is taking place in Yerevan, Armenia, bringing together governments and other stakeholders to deliberate on global biodiversity conservation and the implementation of the Convention and its associated protocols.

Government representatives, delegates, scientists, civil society representatives and researchers, among others, from nearly 196 countries are participating in the conference.