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Business News

Court orders the arrest of Innoson Motors’s Chairman, Innocent Chukwuma

The Federal High Court has ordered the arrest of the Chairman of @innosonvehicles, Mr. Innocent Chukwuma, and two others. The court sitting in Lagos, granted a bench warrant filed against Chukwuma by a Director in the Ministry of Justice.

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Court orders the arrest of Innoson Motors's Chairman, Innocent Chukwuma

The Federal High Court has ordered the immediate arrest of the Chairman of Innoson Motors, Mr. Innocent Chukwuma, and two others. The court sitting in Lagos granted a bench warrant filed against Chukwuma by a Director in the Ministry of Justice.

Justice Ayokunle Faji granted the request made by the prosecutor, Mr Julius Ajakaiye to arrest Innocent Chukwuma, Charles Chukwu, and Anajekwu Sunny. Ajakaiye had informed the court that the warrant of arrest was pursuant to sections 113, 114 and 395 of Administration of Criminal Justice Act (ACJA) 2015.

The arrest order was made because of Chukwu, Sunny and Innoson founder’s refusal to present themselves in the court. The three, alongside Innoson Motors and a shipping company, Mitsui Osk, were charged before the court on four counts bordering on conspiracy, forgery, and fraud to the tune of N2.4 billion.

[READ ALSO: Innoson claims it has won an N8 billion judgment debt against GT Bank]

The criminal charge was made against them by the Inspector-General of Police (IGP) through the Federal Ministry of Justice sometime in December 2015. However, only the shipping company has appeared in court.

Sierra Leone govt purchases Innoson vehicles

Innoson motors

Efforts to evade arrest: The arrest warrant had been pending in the Federal High Court because Innoson and the other defendants challenged the service of the charge and the warrant of arrest on them by filing two appeals at the Court of Appeal.

While the appeal court discharged Innoson Motors, it, however, dismissed their appeals as regards to Innocent Chukwuma, Charles Chukwu, and Anajekwu Sunny. This decision enabled the court to rule today on the motion for their arrest.

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[READ ALSO: Government of Sierra Leone purchases Innoson Vehicles for military use]

According to Justice Faji during his ruling, Innoson and other defendants have not yet taken their pleas. Therefore, their challenge of the service of the charge and other issues raised by them are not substantial as of yet.

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“The issues raised by the defendants challenging the charge can only come up after their pleas have been taken. The prosecution’s application has merit.

“Consequently, warrant of arrest is hereby ordered to be issued against the first defendant, Innocent Chukwuma, second defendant, Charles Chukwu and the third defendant, Anajekwu Sunny.”

[READ ALSO: GT Bank issues fierce press statement addressing alleged Supreme Court decision]

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The court set Friday, June 28, 2019 for the arraignment of Chukwuma, Chukwu, and Sunny after another prosecutor, Bolaji Ayorinde (SAN), requested for a date to arraign them having informed the court that the charge had been filed since 2015.

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]

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Business News

NCC discloses application requirements for Proof of Concept trial license

The NCC stated that it had been inundated with requests related to trial frequencies for the purpose of verification of certain concepts.

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NCC Building, MTN, Glo, Airtel, 9mobile, NCC, Acquisition, Teleology

The National Communications Commission (NCC) has released application requirements for trial frequencies in certain spectrum brands under the Proof of Concept (POC) Trial license.

This was disclosed on Wednesday, April 14, 2021, in a statement signed by the Director of Public Affairs, Dr Ikechukwu Adinde; and made public on the Commission’s verified Twitter account, @NgComCommission.

The NCC stated that it had been inundated with requests related to trial frequencies for the purpose of verification of certain concepts.

The requirements listed by the NCC include:

  • The PoC trial license application must only be granted to Original Equipment Manufacturers(OEMS)/Vendors, or operators in conjunction with their Original Equipment Manufacturers.
  • PoC trial shall not exceed a period of three months effective from the date of approval.
  • Equipment for Proof of Concept must be ‘Type-approved’ by the Commission.
  • Appropriate Spectrum fees must be paid in accordance with the NCC’s regulations.

In case you missed it

Nairametrics reported that Nigerian telco giant MTN recently announced its acquisition of an additional 10MHZ spectrum in the 800MHz band from Intercellular Nigeria Limited.

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Business News

Lagos State residents paid highest price for petrol in March 2021 – NBS

The NBS revealed that the National Average price/litre of petrol was N172.68 in March 2021 compared to N145.40 in March 2020.

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Subsidy and PIB, petrol price, PPPRA, We have sufficient PMS stock for 38 days- DPR 

The National Bureau of Statistics (NBS) has revealed that Lagos State residents paid the highest average price for petrol in the country, in the month of March 2021, at N200.87 per litre; while Adamawa state residents paid the lowest average price in the month of March at N162.17 per litre.

The NBS also revealed that the National Average price/litre of petrol was N172.68 in March 2021 compared to N145.40 in March 2020 and N166.24 in February 2021.

This was disclosed in a report by the NBS CEO, Dr. Yemi Kale, yesterday, April 14, 2021, via his verified Twitter account @sgyemikale.

On kerosene the NBS said:

  • National Average Price/litre at N361.29 in March 2020.
  • The states with the highest average were Taraba (N466.67), Ebonyi ( N450) and Benue (N448).
  • The States with the lowest average prices were Bayelsa (N250), Yobe (N296.43) and Katsina (N318.33)

On Premium Motor Spirit (petrol):

  • National Average price/litre at N172.68 in March 2020
  • The states with the highest average were Lagos (N200.87), Ebonyi (N184.17) and Niger (N183.50)
  • The states with the lowest average prices were Adamawa (N162.17), Taraba (N162.67) and Bauchi (N164).

What you should know 

Recall that Nairametrics reported that the federal government has suspended plans to end its subsidy payments as reports indicate that the FG plans to spend N720 billion for the next 6 months on Premium Motor Spirit (PMS) subsidies.

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