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Zenith Bank: Justice Olubunmi Abike-Fadipe Releases Certified True Copy (CTC) of her Judgment, Call Out Fake and Junk Journalist

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Contrary to the widely reported fake news by some faceless online news platform that Justice Olubunmi Abike-Fadipe of the Ikeja Special Offences Court in his recent judgement allegedly accused foremost financial management in Nigeria, Zenith Bank of fraud and bribery, the astute judge who is bitter with such report have released the original certified True Copy. 

 

In the original certified True Copy, it was confirmed that the respectable Justice never said something of such while delivering her judgement.

 

According to Justice Olubunmi Abike-Fadipe, all what the online media platforms said she delivered, were all fake and wondered how and where they got their own reports.

 

The certified True Copy (CTC) of the judgment is now in the open for anyone to see.

 

These online platforms had reported that the Justice accused Zenith Bank Plc of bribing both the judges and lawyers for 11 years to pervert justice, with several online media outlets alleging that Justice Olubunmi Abike-Fadipe made the claim on Tuesday, March 8, 2022 while delivering judgment in a suit marked LD/ADR/186/2014 between Real Integrated and Hospitality Limited as claimant and Zenith Bank Plc and State Universal Basic Education (SUBEB) as first and second defendants respectively.

 

One such publication quotes the judge as saying “My recommendation is that Zenith Bank is a fraud and people must be very careful in their dealings with the bank.”

 

Some of the other quotes read: “Zenith Bank bribed the lawyers in the matter.

 

“This they have done for 11 years. So many lawyers and judges have been bribed in this matter just perverting justice. What is more embarrassing, the current governor of Central Bank of Nigeria, Godwin Emefiele was the one who came to navigate and begged for the deposit. He has not been able to do anything to Zenith Bank because he was the managing director of the bank at the time of this transaction.”

 

However, nowhere in the Certified True Copy (CTC) of the judgment that was made available to credible news platforms showed that the Judge did not make such statements.

 

While the Judge did make a scathing criticism of the bank, Justice Fadipe did not accuse Zenith bank of bribing judges and lawyers for 11 years to fraudulently alter the course of justice, as claimed by the online mediums.

 

There was also no mention of the Central Bank of Nigeria, Godwin Emefiele in the CTC of the judgment.

 

The judge’s comments, as contained in the judgement, include: “The 1st defendant has been the beneficiary of the malevolent game of chess it plunged both claimant and the 2nd defendant into, holding the sum of N872,780,552.84 in its custody without paying interest thereon from 17th February 2011 until 2nd February 2016 when the Court ordered that the money be paid into an interest yielding account in the names of the claimant and the 2nd defendant pending determination of the suit, which order was curiously varied by the consent of all the parties on 20th September 2016 so that the money remained in the 1st defendant’s custody without interest.

 

“The act of the 1st defendant was unconscionable and detrimental to the goodwill of the claimant and its trade credit with its customers. It was a deliberate and malicious act against the interest of the claimant and the 1st defendant continues to enjoy the largesse in bad faith. Exhibits C4 and C5 clearly state that the funds to be transferred were to offset part of the claimant’s indebtedness for the importation of dictionaries, but the 1st defendant was impervious to this need. I therefore find and hold that the claimant is entitled to substantial damages against the 1st defendant for the injury caused to it.”

 

The judge made the comments while granting the claimants four reliefs.

 

The reliefs are that the 1st defendant (Zenith) was in breach of contract when on 7th October, 2011 it refused the claimant to draw from its account No. 1012465427 “despite the fact that the said account was in enough credit to cover the withdrawals sought to be made on the said date.”

 

The judge further restrained the bank “from disturbing or refusing the claimant from operating its account No. 1012465427 in the 1st defendant’s bank or from honouring the claimant’s transfer or payment obligations to third parties from the said account as long as same is in credit.”

 

It granted an “interest of 15% per annum on the sum of N872,780,552.84 from 7th October 2011 when the 1st defendant denied the claimant access to the funds in its account which was in credit at that date till judgment.

 

“Interest on the judgment sum at the rate of 10% per annum from judgment date till final liquidation thereof.

 

“Costs of this action in the sum of N2.5million.”

 

Of a truth, Zenith Bank has had a record of open and transparent operations, this earned the organization four SERAS CSR Africa Awards that include “Best Company in Reporting and Transparency”, “Best Company in Infrastructure Development”, “Best Company in Gender Equality and Women Empowerment”, and the coveted “Most Responsible Organisation in Africa”.

 

In recognition of its track record of excellent performance, Zenith Bank was voted as Best Commercial Bank in Nigeria in the World Finance Banking Awards 2021, Best Bank in Nigeria in the Global Finance World’s Best Banks Awards 2020 and 2021, Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020, and Best in Corporate Governance ‘Financial Services’ Africa 2020 and 2021 by the Ethical Boardroom. Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, Number One Bank in Nigeria by Tier-1 Capital in the “2021 Top 1000 World Banks” Ranking by The Banker Magazine and the Retail Bank of the year at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards 2020 and 2021.

 

Zenith Bank has continued to distinguish itself in the Nigerian financial services industry through superior service offerings, unique customer experience and sound financial indices. The bank remains a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions.

 

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Jambo Expands to Solana with Tether to Bring Blockchain Mobile Technology to Emerging Markets

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Jambo, the largest web3 mobile infrastructure bringing emerging markets
on-chain, announced that it’s expanding to the Solana blockchain along with Tether to offer
blockchain-enabled financial and educational technologies that cater to emerging markets.
Central to this is the JamboPhone, a $99 web3 smartphone that has been powerful in onboarding all
types of users on-chain in a mobile-first way. Combined with the Solana blockchain’s high throughput
capabilities and Tether’s dominant stablecoin, USDT, access to web3 financial and educational products
will be democratized to those who need them most in Southeast Asia, Africa, and Latin America.
Priced at $99 and already sold in over 120 countries, the JamboPhone is targeted towards Gen Z
consumers in emerging markets as their portal to the best digital products and opportunities globally.
Users can engage with the global economy by utilizing the preloaded Jambo Ecosystem applications
featuring DeFi, gaming, and web3 infrastructure applications. The JamboPhone aims to address some of
the most challenging issues faced by emerging markets, such as a large unbanked population and limited
access to smartphones. Users can purchase the JamboPhone with Solana Pay on JamboPhone.xyz.
The Jambo App: Empowering Users
The smartphone is equipped with the JamboApp, a comprehensive web3 platform that offers users a
range of services including decentralized finance, gaming, and educational content, all designed with the
emerging market user in mind. The JamboApp includes the JamboWallet, a non-custodial multichain
wallet which includes support for Solana tokens and USDT. Jambo will be giving out rewards primarily in
USDT, leveraging its broad acceptance and stability in emerging markets. Users will be able to complete
quests sponsored by Jambo and Jambo ecosystem partners, ranging from educational initiatives to
promotional tasks, with rewards now distributed primarily using SPL USDT. This initiative underscores
Jambo, Solana, and Tether’s role as pioneers in bridging the digital divide, aiming to democratize access
to digital financial tools and providing users with earning opportunities in emerging markets.
Leveraging Local Solana Communities
Additionally, Jambo will engage local Superteams to accelerate web3 adoption. Superteam is a global
community of web3 builders who are passionate about Solana. Their mission is to help web3 talent learn,
earn and connect with the Solana ecosystem. These teams, composed of local experts and enthusiasts,
will play a pivotal role in educating communities, fostering local development, and driving grassroots
initiatives that ensure sustainable growth within the web3 ecosystem.
“Back when I was building earn.com in 2017, our vision was to build a product ‘where there’s a phone,
there’s a job.’ Alice, James, and the Jambo team have realized that vision by developing web3 mobile
infrastructure bringing financial access to emerging markets,” said Lily Liu, President of the Solana
Foundation. “Jambo offers a gateway to web3 that is accessible to nearly anyone in the world, while
Solana enables financial access for nearly anyone with an internet connection. Together, we are
committed to making self-custody, financial opportunity, and educational resources accessible to millions.”
Why Emerging Markets
Emerging markets face their own unique set of economic challenges that Solana and Tether can address
with their blockchain and stablecoin solutions. In emerging markets, the use of USDT (Tether) significantly
surpasses that of other stablecoins, with over 34.2 million unique wallets utilizing USDT as of April 2024.
This broad user base highlights the widespread trust and adoption of Tether in these regions. With
Jambo’s game-changing smartphone, Solana’s fast transaction processing, low transaction fees, and
Tether’s robust and widely-used stablecoin, users now have access to stablecoin and crypto payment
rails, alternative banking access, and global earnings opportunities.
“We want to bring emerging markets on-chain,” said James Zhang, Co-founder of Jambo. “Bringing
Jambo to Solana and Tether allows us to provide a comprehensive solution that addresses the unique
needs of these regions.”
“Emerging markets stand out as promising grounds for financial inclusion. Their demand for tools like
USDT fuels our dedication to shaping a brighter financial future for users in these regions.” said Paolo
Arodino, CEO, Tether. “By providing affordable access to web3 technologies through the JamboPhone
and leveraging the power of the Solana blockchain, Jambo is empowering users in these regions with the
tools they need to participate in the global digital economy. The integration of SPL USDT as a reward
mechanism further strengthens this initiative, offering users a stable and secure digital asset.”

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Galaxy Backbone Limited Strengthens Partnership with Enugu State Government

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In a significant move to enhance digital infrastructure in Enugu State, Nigeria, executives from Galaxy Backbone Limited, led by Hon. Olusegun Olulade, Executive Director of Customer Centricity and Marketing, paid a partnership visit to the state government.

The delegation was warmly received by His Excellency, Governor Peter Mbah, at the Governor’s Office in Lion Building, Enugu.

Galaxy Backbone Limited, a premier ICT services provider in Nigeria, aims to foster connectivity and digital transformation across various sectors within the state.

The collaboration encompasses several critical areas, including the provision of connectivity in all 265 Smart Schools across 260 wards, 160 primary health centers, the Enugu State Secretariat, and the Lion Building.

Additionally, Galaxy Backbone will offer data center and cloud services, alongside other ICT-related services as required by the state government.

Governor Peter Mbah expressed his gratitude and optimism regarding the partnership, stating, “It was indeed my pleasure to meet you and your team this evening at my office. Thank you most sincerely for your kind words and expression of support. I look forward to collaborating with Galaxy Backbone in areas that are necessary to achieve our common goals.”

The meeting was attended by key officials from both the Enugu State Government and Galaxy Backbone Limited. Present from the state government were Secretary to the State Government (SSG) Prof. Chidiebere Onyia, Special Adviser on Governor’s Delivery Unit Mr. Ozurumba Afigbo, and Special Adviser on ICT Mr. Nnaemeka Ani.

Representing Galaxy Backbone were Mr. Henry Akubue, Acting Regional Coordinator for South East and South South, Engr Udochi Ododo, Head of Solution Design, and Mr. Obinna Ifenze, Admin for South East and South South.

Hon. Segun Olulade commended Governor Peter Mbah for his hospitality and the productive discussions that promise to drive significant advancements in the state’s ICT landscape.

According to Hon. Olulade, “This partnership is poised to play a crucial role in the digital transformation of Enugu State, ensuring enhanced connectivity and improved services across various sectors.

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Oando Boss Wale Tinubu Shares Podium with other Top Executives at AAM 2024

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The  Group Chief Executive,  Oando PLC, Mr. Jubril Adewale Tinubu, will on Friday 14th, June, 2024 speak at the ongoing Afreximbank Annual Meetings 2024 in Nassau, Bahamas.

The oil player will  share insights on the vital role the private sector plays in transforming Afri-Caribbean opportunities into tangible realities.

From driving innovation and economic growth to forging sustainable partnerships, private enterprises are at the forefront of creating a prosperous future and empowering progress across regions.

This year, the AfriCaribbean Trade and Investment Forum (ACTIF2024) is incorporated fully within the Afreximbank Annual Meetings (AAM2024).

The Afreximbank Annual Meetings has become renowned as a uniquely multi-faceted event that cuts across the private/public sector with unmissable conferencing, deal-making, lobbying, entertainment and more. This year it forms Global Africa’s Greatest Gathering. At this momentous event, we anticipate welcoming several thousand attendees including African/Caribbean leaders and senior government officials, African and non-African policymakers, corporate and business leaders, bankers, entrepreneurs, academics and other thought leaders – with more than 60 speakers already confirmed.

The 3rd edition of the AfriCaribbean Trade and Investment Forum (ACTIF2024) explores the platform of Global Africa – to navigate new vistas for the Caribbean through African and global investments from across the diaspora; with more than 25 deals expected to be signed and new commercial and developmental initiatives to be announced.

Others  expected to speak at the forum include KC, Prime Minister of the Commonwealth of The Bahamas, The Honourable Philip Davis, H.E. Dr. Irfaan Ali, Chairperson of the Conference of Heads of Government of the Caribbean Community (CARICOM) & President of Guyana, Honourable Mia Amor Mottley, Former President, Republic of Niger and Leader of the African Continental Free Trade Area (AfCFTA), President and Chairman of the Board of Directors, Afreximbank, H.E. Prof. Benedict Okechukwu Oramah, Dangote,  Chairman and CEO, Dangote Group, Mr. Aliko Dangote,  Executive Vice President Office (Global Trade Bank), Afreximbank, Mr. Haytham Elmaayergi, Chairman, Access Holdings; Mr. Aigboje Imoukhuede;  Mr. Jeannel Wyclef Jean, an international musician, President and CEO; Corporate Council on Africa (CCA), Ms. Florizelle Liser, Former President, Federal Republic of Nigeria; H.E. Chief Olusegun Obasanjo, CEO, Fidelity Bank;  Mrs. Nneka Onyeali-Ikpe, Co-Founder RePlant Advisors LLC and Chair, National Hemp Association;  Mr. Geoff Whaling, Serena Williams; Tennis Champion and Founding Manager, Serena Ventures, among several others.

 

 

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