News
FRAUD! FCMB IN ILLEGAL TAKEOVER OF COMPANY’s ASSET

Renowned financial institution First City Monument Bank (FCMB) has been dragged before a federal high court for allegedly obtaining the certificate of registration of a deed of all debenture belonging to ASI Building Systems Limited through fraudulent means.
The aggrieved construction company also named The Corporate Affairs Commission (CAC) and its registrar as co-defendants for allegedly conniving with the bank to carry out the fraudulent activity.
While renewing legal hostilities which has been going on against the bank for some time, the company filed an amended statement of claim alleging that the Ladi Balogun led FCMB, acting under the pretext of liquidating the company’s alleged indebtedness to the bank, deceitfully obtained and registered a deed of all asset debentures against the company’s total assets valued at ₦7.5 billion.
The company maintains that it has never at any time made, prepare, enter or execute any such deed of all assets in favour of FCMB. It claimed further that the Form C03 used by FCMB to obtain the said deed from the corporate affairs commission was forged because it does not contain the signatures of the directors or secretary of the company as required by law.
The statement of claim filed by the company’s lawyer Benjamin Atebe further avers that FCMB has no reason to want a deed of all assets from the company in the first place since it is not being owed a kobo. Alth0ugh it secured a ₦400 million loan from the bank in 2007, it has since liquidated the loan and its interest in full.
The company therefore wants the court to declare that the deed of all assets debenture obtained by FCMB is illegal and should be revoked and cancelled. It also prayed the court to award ₦79.5 million as money owed by FCMB and an extra ₦2.5 million as damages.
FCMB however filed a counter-claim alleging that ASI Building System Limited is indebted to the bank to the tune of ₦172.5 million, an allegation the company swiftly countered, maintaining it is not indebted to FCMB in any way.
The case has since been adjourned to enable both parties to prepare their substantive defences. It is expected to resume sometime after the legal sector resumes from the annual court vacation.
News
Ajimobi’s Eldest Child, Bisola Dies In The UK

Late Governor Ajimobi’s first child, Bisola is dead!
News filtered in early Thursday, March 27, 2025 that Bisola,42 died after a brief illness in the United Kingdom.
The late woman before her death was the special adviser to the Minister of Budget and Planning, Atiku Bagudu.
Married to Kolapo Kola-Daisi, their marriage is blessed with three children.
News
EFCC Arrests Top Businesswoman, Aisha Achimugu

The Economic and Financial Crimes Commission (EFCC) recently arrested prominent businesswoman and socialite, Aisha Achimugu, following allegations of fraudulent activities related to a multi-million-naira contract awarded to her company by a South-West state.
Achimugu, who serves as the Chairman of Bluewave Exploration and Production Limited, was detained last weekend after a civil society group filed a petition accusing her of involvement in dubious dealings concerning the contract. She was granted bail the following day but has been instructed to return for further questioning in the coming week.
Beyond her corporate endeavors, Achimugu is well-known in elite circles across Lagos and Abuja. Her social media presence showcases a lavish lifestyle, featuring exotic vacations, exclusive yacht parties, and private jet travels.
This arrest marks a significant challenge for Achimugu, whose business empire and social standing are now under intense public scrutiny. The EFCC’s investigation is ongoing, and the outcome may have far-reaching implications for her career and reputation.
A source hinted that Achimugu was asked by the commission to report back on the 30th of March,2025 for further questioning.
Not really bothered by the investigation, the billionaire days after her arrest launched a 30-day feeding Ramadan programme where she targets the less-privileged.
Additional Information- Streetjournal Magazine
News
Obasa Missing as Lagos Assembly Sits, Lauds President Tinubu

The Lagos State House of Assembly convened for a crucial legislative session yesterday, but an unexpected absence stole the spotlight, the ousted Speaker Mudashiru Obasa was nowhere to be seen. The sitting, which focused on key legislative matters and a commendation of President Bola Ahmed Tinubu’s leadership, went on without Obasa, raising eyebrows among lawmakers and political observers alike.
New Speaker Mojisola Meranda presided over the proceedings, ensuring the session ran smoothly. During deliberations, the lawmakers took turns applauding President Tinubu for his strides in governance, particularly his economic and infrastructural policies aimed at revitalizing Lagos and Nigeria as a whole. However, whispers about Obasa’s absence could not be ignored.
Sources within the Assembly remained tight-lipped on the reason for his nonappearance, fueling speculation.
As lawmakers dispersed after the session, the big question lingered where was Obasa? For now, the mystery remains, but all eyes will be on the next sitting to see if the seasoned politician resurfaces.
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