His Royal Majesty, Oba Adeleke Adelekan Idowu, Basipo Odoru V, the Alaperu of Iperu in Ogun State, has passed away, marking the end of a 22-year reign.

He was a revered traditional ruler who played a vital role in the development of Iperu, fostering peace, cultural preservation, and economic growth.

Senator Otunba Gbenga Daniel, the lawmaker representing Ogun East Senatorial District, expressed deep sorrow over the monarch’s passing.

In his condolence message, he described Oba Idowu as a trusted confidant, friend, and advisor who provided invaluable guidance on many occasions.

He emphasised the immense loss the monarch’s passing represents for Remoland and Ogun State, acknowledging his significant contributions to unity and progress.

Oba Adeleke Idowu’s leadership saw significant progress in Remoland, and his influence extended beyond Ogun State, making a lasting impact on the region and Nigeria as a whole.

His death comes just over a year after the loss of his beloved wife, Olori Kehinde Idowu Basipo-Odoru.

As the good people of Iperu community and Ogun State as a whole mourn the loss of their monarch, tributes continue to pour in from across the country, recognising Oba Adeleke Idowu’s enduring legacy of leadership and service.

New facts have emerged on how Access Bank clandestinely granted N1 billion loan to a going concern, DDSS International Company limited, using a property belonging to another company, MOB Integrated Services, run by Gbolahan Obanikoro, as collateral without the owner’s consent or knowledge.

Details of the loan provided by insiders, revealed that the property, owned by MOB Integrated Services, was first used to guarantee a loan of N193,139,200 to Balmoral International Limited on May 21, 2013, from the now acquired Diamond Bank.

The credit facilities, referenced AOB/BB/VO/AD/031/05/2013, also included N120 million term loan and N20 million import duty facility.

The term of the loan was 180 days from the date of disbursement at 20 per cent per annum, while a third-party legal mortgage on the property located at 40B Bourdillion Road, Ikoyi, Lagos, was used as security.

However, long after Balmoral had repaid and serviced the loan, the bank, without recourse to the property owner, used the same collateral for another loan, completely unknown to the property owner.

The loan of N1 billion was granted to DDSS International Company Limited via an offer letter of May 16, 2019, using the same property as security.

The letter was signed by Bukola Shoyombo, a Relationship Officer in Access Bank Business Banking Division, and Oreoluwa Roy-Egbokhan, a Relationship Manager.

The purpose was to enable DDSS International finance the purchase of different brands of cars and luxury vehicles for sale to individuals and corporate organisations.

The tenor of the loan was for 60 months at 15 per cent interest per annum, subject to review based on prevailing market conditions.

The bank claimed that the collateral was a “comprehensive third-party legal mortgage on property located at 40B Bourdillion Road, Ikoyi. The property is currently with the bank and perfection has been concluded,” the bank claimed in the offer letter.

The implication, the insider, explained, was that the bank granted DDSS International the loan without collateral, because the property was not theirs and the owner had no relationship whatsoever with the company.

A complaint of stealing was later filed against the bank and others, following which the Lagos State Government filed charges against the Managing Director, Bolaji Agbede, and three others.

In the four-count charge pending before Justice Ibironke Harrison of the Lagos State High Court, sitting in Tafa Balewa Square, the Director, Directorate of Public Prosecutions, Mrs A. O. Oluwafemi, accused the bank and others of conspiracy, stealing, and attempted theft.

The defendants were the Managing Director of Balmoral International Limited, Adejare Adegbenro; Balmoral International Limited, Access Bank, Bolaji Agbede and DDSS International Company Limited.

The charge read: “Count 1: Conspiracy to Commit a felony to wit: stealing contrary to Section 411 of the Criminal Law, Ch. C17, Vol.3, Laws of Lagos State, 2015.

“Particulars of Offence: Adejare Adgbenro (m), Balmoral International Limited, Access Bank and Bolaji Agbede (m) on or about the 24th Day of September 2013 at Plot 1261, Adeota Hopewell Street, Victoria Island, Lagos State in the Lagos Judicial Division, conspired to commit a felony to wit: Stealing.”

The charge stated that they conspired and “stole the property of MOB Integrated Services at Plot 40b, Bourdillion Road, Ikoyi, Lagos, by using it as a security for a loan without his consent and subsequently entering into a consent judgment.”

The defendants were also charged with attempted stealing, contrary to Section 21 of the Criminal Law of Lagos State, 2015.

The prosecution said the defendants, on or about May 26, 2019, at Plot 1262, Adeola Hopewell Street, Victoria Island, Lagos State, in the Lagos Judicial Division, “attempted to steal the property of MOB Integrated Services at Plot 40B, Bourdillion Road, Ikoyi, Lagos by offering and granting DDSS International Company Limited a credit facility of N1billion only.”

However, following the defendants’ failure to appear for their arraignment, Justice Harrison ordered their arrest.

The judge issued the arrest warrant after prosecution counsel, Uthman Rilwan, informed the court that despite being served with a notice, the defendants failed to appear.

After issuing the warrant, the judge directed that it be executed against the principal officers of the defendant companies.

She adjourned until February 24, 2025, for arraignment.

-Culled from Thisday.

Late  Senator Ifeanyi Patrick Ubah would be compared with  a shooting star across the midnight sky that left unannounced when many were still savouring and   amazed by its beauty.

Until his death the senator that represented Anambra South Senatorial District touched many lives, he gave laughter to many homes, he fed many hungry mouths, he gave succour to many hearts and gave hope to many hopeless.

Though his style and approach to some to issues may be distasteful to many,  He held his passion with absolute conviction, fighting many battles that would easily cowered the faint hearts, he dared the mighty, ventured into the unknown, took the trophies everywhere he went.

He was simply fearless!

Since his death was announced that red letter day last July tributes have been showering for the man whose milk of kindness was described as second- to- none.

The man who was also the  Chairman, Capital Oil, is generous to a fault.   This top player in the nation’s oil and gas sector also was born with  a large heart. Besides, he was  unapologetically committed to the uplift of his community, while also helping the course of humanity.

It was  gathered the many remarkable tributes during his lying state about the countless lives he touched and the enduring legacy he left behind.

He was also described as a tenacious businessman, philanthropist and public servant. Through his lifetime, he dedicated himself to the service of the people of his state and constituency.

As the titan went home  yesterday, Saturday 23 November, 2024, in a blaze of glory when he  committed to mother earth the nation as  a whole  would surely miss a shrewd businessman,  distinguished  politician and man born to serve humanity.

It is definitely incontrovertible that while alive, late Senator Ifeanyi Ubah, was someone many wished to be as blessed as he was.

But unknown to those who covet his successes, he faced many challenges that would ordinarily consume a lily-livered.

Interestingly however, Ubah had always proved to his detractors that he is indeed a cat with nine lives.

In other words, the more they tried to bury him, the more he sprouted like a seed in a well-fertiled land. Though he was a lone fighter, he proved beyond reasonable doubt that he was indeed a warrior, as he always emerged victorious in all his legal battles.

All his life, he walked tortuous and undulating paths to achieve success.

The billionaire businessman was a courageous, even fearless, confident and self-made man. His life, in a way, taught many that one could be whatever one wanted to be if one prepares well and stays focused.

 However, last July, the man who survived and escaped many battles, including an attempt on his life, finally succumbed when he died in London.

Many would remember September, 2022, the businessman , who was also the chairman of Capital Oil and Gas, was going about his normal activities that fateful Sunday , travelling to his hometown, Nnewi with his aides when some dare-devil gunmen rained bullets on him alongside his convoy.

Many scampered for safety. And it was, indeed, a sad day as some of his trusted aides were fell by the bullets.

It was learnt that if not for his bullet- proof car and the grace of God, the Anambra State-born Senator would have kicked the bucket at the time.

 It was such a dreadful and unpalatable scene to watch.

The sad event of that day no doubt haunted the senator till he breathed his last.

Until the tragic event of his death , if you had asked the late politician his most cherished ambition, he would probably have told you, it is to become the governor of the state.

This, he had worked tirelessly to achieve in the next governorship election of the state.

Indeed, the highly flamboyant politician had launched powerful consultations in the state for his ambition before death plucked life out of him. He has spent money traveling round the world consulting and seeking the blessings of many that matter to his ambition.

Sadly, this beautiful dream died with him.