Headline

Acting CBN Governor, Shonubi, Deputy, CCB Dragged To Court Over Alleged Refusal To Declare Assets

Published

3 years ago

August 27, 2023

A civil group, the Network Against Corruption and Trafficking Foundation (NACAT), has dragged the Acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, and a Deputy Governor of the apex bank, Edward Adamu, before a Federal High Court in Abuja, over alleged failure to declare their assets to the Code of Conduct Bureau (CCB).

Also joined as defendant in the suit filed by the group’s legal counsel, Festus Keyamo Chambers, is the Chairman, Code of Conduct Bureau.

The applicant premised the suit on the strength of Section 1(1) and (2) of the Freedom of Information (FOI) Act, 2011.

Specifically, the group in the suit marked: FHC/ABJ/CS/1182/2023 dated August 25, 2023 is alleging that Shonubi refused to declare his interest in the following companies: Intameks Ltd– RC13086; Kirby’s Place Resources Ltd – RC1215845; The Pekaboo Company Ltd – RC1395011; Ehlkuhile Investment Ltd– RC857442; Iscopeng Ltd – RC1431044; and Kilima Technologies Ltd – RC1218250.

Similarly, the applicant is also alleging that Adamu failed to declare his interest in the following Companies: Pinnacle Solutions Network Ltd – RC698688; Elad Global Resources Limited – RC933366 and Global World Frontier Services Nig. Ltd – RC772500.

An affidavit in support of the originating motion deposed to by one Stanley Ugagbe, the operational Manager of NACAT stated the respondents had vehemently refused to avail them of the documents.

Ugagbe averred that the 2nd respondent, (ag, CBN Gov) is listed as a Director in the following Companies: Intameks Ltd– RC13086; Kirby’s Place Resources Ltd – RC1215845; The Pekaboo Company Ltd – RC1395011; Ehlkuhile Investment Ltd – RC857442; Iscopeng Ltd – RC1431044; and Kilima Technologies Ltd – RC1218250.

Also, the deponent claimed that the 3rd respondent is listed as a Director in the following Companies: Pinnacle Solutions Network Ltd – RC698688; Elad Global Resources Limited – RC933366 and Global World Frontier Services Nig. Ltd – RC772500.

As public officers, Ugagbe stated, the 2nd and 3rd respondents have statutory obligations to declare in their Asset Declaration Forms, the interests they have in the above-named companies, while assuming their respective offices as Acting Governor and Deputy Governor of the Central Bank of Nigeria, CBN.

“That the Applicant has a right under the Freedom of Information Act, (FoI) 2011, to access the Assets and Liabilities Declaration Forms of the 2nd and 3rd respondents, in the records of the 1st respondent, with respect to declaration of the 2nd and 3rd Respondents’ interests in the said companies.

“That the applicant has made demand under the Freedom of Information Act, 2011 to the Respondents to produce their Assets and Liabilities Declaration Forms, where the 2nd and 3rd Respondents declared their interests in the said companies, but that the respondents failed, refused, and neglected to produce the said documents.

The applicant submitted that it needed the intervention of the court to compel the 1st and 2nd respondents to grant the request of the applicant, in accordance with Section 1 (3) of the Freedom of Information Act.

The applicants predicated their prayers on the ground that they had written letters dated July 3, 2023, and August 14, 2023, requesting the respondents to produce the said documents, but they refused.

“The respondents have failed, refused and neglected to produce the said documents requested from them, contrary to section 4 (a) of the Freedom of Information Act, 2011” the counsel stated.

As public officers, the counsel submitted that the 2nd and 3rd respondents have statutory obligations to declare in their Asset Declaration Forms, the interests they have in the companies while assuming their respective offices as Acting Governor and Deputy Governor of the CBN.

NACAT claimed to be a non-governmental organisation, a pro-democracy civil society organisation whose objectives include contributing to the global war against corruption, financial crimes, terrorism and economic sabotage.

Meanwhile, no date has yet been fixed for hearing of the suit.

Headline

‘Pioneer Of Cable TV News’: Key Facts About CNN Founder, Ted Turner

Published

4 days ago

May 9, 2026

Editor

Ted Turner, the media businessman who founded CNN died at the age of 87. He died peacefully on Wednesday, surrounded by family, according to Turner Enterprises.

Contents

Launched 24-hour news television

Built a media network

Expanded through sports

Recognition and influence

Philanthropy and global causes

Environmental efforts

Health and later years

Early career path

Leadership and legacy

Personal life

Exit from business

Family

Below are key facts about his life and impact:

Launched 24-hour news television

Turner founded CNN on June 1, 1980, introducing the first 24-hour news channel and changing how audiences follow global events.

Built a media network

He moved from billboards into broadcasting, turning an Atlanta TV station into a national superstation in 1976. His business later grew to include CNN International, TNT, Turner Classic Movies and Cartoon Network.

Expanded through sports

Turner invested in sports broadcasting and owned teams including the Atlanta Braves and the Atlanta Hawks, using television to reach wider audiences.

Recognition and influence

In 1991, he was named Time magazine’s Man of the Year for his role in shaping modern news coverage.

Philanthropy and global causes

He founded the United Nations Foundation and supported campaigns against nuclear weapons. In 1997, he pledged $1 billion to the United Nations.

Turner supported conservation work, including reintroducing bison in the United States, and backed environmental education through the “Captain Planet” cartoon.

Health and later years

In 2018, Turner revealed he had Lewy body dementia. He also recovered from a mild case of pneumonia in early 2025.

Early career path

He took over his father’s billboard company at 24 after his father’s death and later expanded into radio and television, despite limited experience in journalism.

“I worked until 7 o’clock, and when I got home the news was over,” he once said. “So I missed television news completely. And I figured there were lots of people like me.”

Leadership and legacy

“Ted was an intensely involved and committed leader, intrepid, fearless and always willing to back a hunch and trust his own judgement,” Mark Thompson, Chairman and CEO of CNN Worldwide, said in a statement. “He was and always will be the presiding spirit of CNN. Ted is the giant on whose shoulders we stand, and we will all take a moment today to recognize him and his impact on our lives and the world.”

Personal life

Turner married actress Jane Fonda in 1991, and they later divorced after 10 years, though they remained close.

“I would never love anyone like I love him,” she said. “But I just couldn’t keep moving in his world, along the surface for the rest of my life. I knew that I would get to the end of my life and regret not doing the things that I also needed to do for me.”

Exit from business

He sold his company to Time Warner in 1996 and later stepped away following its merger with AOL.

Reflecting on his life, Turner once said: “I lost Jane. I lost my job here. I lost my fortune, most of it. Got a billion or two left. You can get by on that if you economize.”

Family

He is survived by his five children, 14 grandchildren and two great-grandchildren.

Headline

Iran’s Nationwide Internet Shutdown Hits 70 Days

Published

4 days ago

May 9, 2026

Editor

NetBlocks, a monitoring group, has disclosed that an internet shutdown enforced by the Iranian regime has entered its 70th day, severing key access from swathes of the population under the shadow of war.

NetBlocks reported on Friday that the blackout has now surpassed 1,656 hours, marking more than two months since US-Israeli strikes pounded Tehran and escalated across the Middle East.

“Digital connectivity is vital in times of crisis,” NetBlocks said in a post on X. “Limiting service harms those most in need – people with disabilities, students, small businesses and the general public.”

According to CNN, Iran imposed a separate internet shutdown on the country’s 92 million people earlier this year, when it launched the most lethal crackdown on anti-government protesters since the Islamic Republic’s founding 47 years ago.

CNN further reports that the latest blackout has cut off another potential lifeline for Iranian residents faced with high unemployment and economic pressure exacerbated by the US-Israeli campaign.

(CNN)

Headline

Gas Prices In US Edge Down After Two Weeks Of Increases

Published

4 days ago

May 9, 2026

Editor

The cost of a gallon of regular gas in the United States (US) has edged down a little more than a penny to $4.55.

According to AAA’s readings, this marks the first decline in the average gas price after 15 straight days of increases.

The decline is minuscule compared to the large increases in gas prices over the last two weeks.

According to CNN, gasoline costs rose an average of nearly 4 cents a day during that period and had several daily increases of between 7 and 9 cents.

Also Read: Trump insists US-Iran ceasefire intact despite recent exchange of fire

CNN also reports that based on past gas spikes, it will likely take weeks for gas prices to get down below $4 a gallon.

The report, however, states that a previous two-week stretch of gas price declines only shaved 14 cents off the average price, taking the average price to $4.02, before the recent 15-day run of increases.

According to CNN, it could take months for the average price to fall below $3 per gallon, as it did before the war in Iran.

CNN further reports that only one state – Oklahoma – now has an average price of less than $4 a gallon, and its average stands at $3.98. California has the highest average price at $6.16.

(CNN)