News

Court Bars CCETC From Entering Ossiomo Land, Using Its Property

Published

7 months ago

September 23, 2025

An Edo State High Court in Benin has restrained Jiangsu Communication Clean Energy Technology Company Limited (CCETC) from entering the land of Ossiomo Power and Infrastructure Company
Limited pending the hearing and determination of motion of notice.

Hon. Justice Mary Itsueli—vacation judge, gave the restraining order in an ex-perte motion filed before the Honourable Court by Emmanuel Usoh, counsel to Ossiomo Power and Infrastructure Company
Limited.

In the suit marked: B/242/2025, Ossiomo Investment Limited, Ossiomo Power and Infrastructure Company
Limited, Ossiomo Offsites and Utility Limited, Quadrant Gas Development Company Limited are the claimants while Jiangsu Communication Clean Energy Technology Company Limited (CCETC) stands as defendant.

Usoh had, on behalf of Ossiomo Ossiomo Power and Infrastructure Company
Limited, approached the court, sought an interim injunction restraining CCETC from gaining access to the land or utilising any property belonging to the claimant.

Usoh sought an interim order restraining “the Defendant whether by itself, agents, representatives, Directors, staff, privies assigns, or anyone directly or otherwise and howsoever described from parading itself as a member or a shareholder of the 2nd Claimant or relying o using the Joint Venture Agreement pending the hearing and determination o the Motion on Notice.”

In the enrollment of order dated September 11, 2025, Justice Itsueli, said having “given a most careful consideration to the application, supporting affidavit and annexures, I am minded to grant the interim order of injunction.”

The vacation judge, therefore, ordered that, “The Defendant whether by itself, privies, assigns and anyone directly or otherwise and howsoever described are restrained from accessing, utilizing the infrastructure of the Claimants including the 33KVA lines, gas engines and gas infrastructure built by the Claimants to supply gas to the power plant and generate electricity supply whether by bulk sales or transmission to corporate entities or individuals in Edo State pending the hearing and determination of the Motion on Notice already filed.”

Hon. Itsueli also ordered “the Defendant whether by itself, agents, representatives, Directors, staff, privies, assigns, or anyone directly or otherwise and howsoever described are restrained from parading themselves member or shareholder of the 2nd Claimant or relying or using the Joint Venture Agreement pending the pending the hearing and determination of the Motion on Notice already filed.”

Recall that Ossiomo Power and Infrastructure Company
Limited and CCETC have been in ownership tussle which led to the power plant being shut down on September 1, 2025.

Speaking during a press briefing on the latest in the power tussle between Ossiomo and its investment partners, Usoh said, CCETC, having aware of the restraining order, had so far approached the arbitrary panel in Singapore.

He said: “CCETC, being aware of the restraining order, also immediately approached the arbitrary panel for arbitration in Singapore. The rationale behind this update is for the whole world to know that Singapore, being the seat of economics arbitration globally, is aware of the issues happening between Ossiomo and CCETC. We had the opportunity of seeing the copy of the arbitration, and we are replying accordingly.”

On Ossiomo and Edo State Government, Usoh disclosed: “Our relationship with the Edo State Government is what we call Power Purchase Agreement (PPA). Ossiomo develops power and sells to Edo State Government at market value. They are our landlord, we cannot owe grudge against the government. My appeal to the government is to do business with us so that everyone in Edo will benefit.”

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

1 hour ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

2 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

4 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.