Metro

Court Orders TSTV CEO To Pay ₦938m, $1.42m In Debt Case

Published

4 months ago

August 7, 2025

A High Court of the Federal Capital Territory in Abuja has ordered Telcom Satellites Limited, and its Chief Executive Officer, Bright Echefu, to pay a former Minister of Special Duties, Kabiru Tanimu Turaki (SAN), a total of ₦938 million and US$1.42 million, along with post-judgment interest at the rate of 10 per cent per annum until the debt is fully cleared.

Justice Bello Kawu made the order on July 7, 2025, while delivering judgment in the suit filed by Turaki against the TSTV and its CEO.

A certified true copy of the judgment was sighted on Wednesday by The PUNCH.

Turaki, the claimant in the suit marked FCT/HC/CV/332/23, sued TSTV and Echefu, as the 1st and 2nd defendants respectively, over unpaid debts.

In a writ of summons supported by a 27-paragraph affidavit deposed to by Turaki, he stated that TSTV, a company duly incorporated under the Companies and Allied Matters Act, 2020, presented itself as an indigenous cable satellite television provider rendering media and telecommunication services to him.

He said the 1st defendant (TSTV) operated from its head office located at Plot 859, Idu Industrial Area, Idu in Abuja.

According to Turaki, the 2nd defendant, Echefu, who is the Managing Director/Chief Executive Officer of TSTV and its alter ego, personally obtained loans from him under false pretences.

Turaki said he became aware of the defendants in 2018 through a close friend and associate who had been approached by Echefu to convince him to invest in TSTV.

He noted that after about two months of due diligence and negotiations with Echefu, he declined the invitation to invest in TSTV as the terms presented were not acceptable to the 1st defendant.

He said that following the failed investment proposal, Echefu continued to mount pressure on him to invest in TSTV.

“Unrelenting in his efforts, the 2nd defendant wrote a letter conveying several propositions to me to come on board, including acquiring 35% of the shares of the 1st defendant and assuming its chairmanship,” he said.

According to Turaki, this proposal was made in a letter dated November 13, 2019.
He added that after persistent persuasion from Echefu and his collaborators, he agreed to serve as Chairman of TSTV and acquire 50% of its shares for the sum of ₦800 million.

He added that this decision was based on representations by Echefu that TSTV was a viable and profitable cable satellite company.

“The 1st defendant, as a result, deceived me into acquiring 50% of its shares for ₦800 million, even though the company was moribund,” Turaki stated.

He further said that after assuming the position of Chairman and investing in the company, Echefu again exerted pressure on him to assist in raising additional funds for TSTV’s operations.

Turaki said that under pressure from Echefu, he introduced him to Tudu Ventures Nigeria Limited, which lent the defendants the following sums: ₦1.2 billion, ₦800 million, US$1.6 million and US$500,000.

The defendants allegedly failed to repay the loans, prompting Tudu Ventures to file a separate suit (FCT/HC/CV/1588/21) to recover the funds. Partial judgment was entered against the defendants on November 22, 2022.

Turaki said he also personally granted loans to Echefu at his request, amounting to ₦138 million, US$1.35 million, and an additional US$70,000.

“The defendants, via a letter dated January 5, 2021, acknowledged receipt of $1.28 million and ₦138 million as part of the loans advanced to them,” the claimant said.

He added that the defendants later approached him again, stating that the $1.28 million was insufficient for its intended purpose and requested an additional $70,000, which he also provided, bringing the total loan to $1.35 million.

Turaki said Echefu once more approached him for a further loan of $70,000 to meet financial obligations, which was also granted.

“That the 2nd Defendant again approached me to advance a further loan of the sum of USS70,000, to enable them settle some financial exigencies, which was also advanced to the defendants”.

According to him, the defendants, through a payment proposal signed by Echefu for settling Tudu Ventures’ loans, his own loans, and the equity investment, agreed to repay $1.35 million, $70,000, and ₦138 million.

He added that Echefu’s Counsel, Adegboyega Awomolo, (SAN), via a letter dated November 22, 2022 agreed to pay the sum of N200,000,000 on or before July 15, 2022, through the said counsel as a demonstration of the 2nd Defendant’s good faith and commitment to liquidating his Indebtedness to him which the 2nd Defendant failed to keep.

Turaki said he later instructed his lawyers, N.A. Saidu Legal Consult issued a demand letter to Echefu seeking repayment, but no response was received.

He emphasised that, given the efforts made and the lack of response from the defendants, it became clear to him that the defendants had no intention of repaying the loans which Echefu personally obtained and which are now overdue.

He, therefore, urged the court to compel the defendants to repay the outstanding loans with post-judgment interest of 10 per cent annually until the debt is fully liquidated.

In his judgment, Justice Kawu granted all the reliefs sought by Turaki.

He held, “An order of this Honourable Court directing the 1st and 2nd defendants, jointly and severally, to pay the claimant the sum of ₦138,000,000 (One Hundred and Thirty-Eight Million Naira) being the total loan advanced, now due and unpaid.

“An order directing the 1st and 2nd defendants, jointly and severally, to pay the claimant the sum of US$1,350,000 (One Million, Three Hundred and Fifty Thousand US Dollars) being the total loan advanced, now due and unpaid.

“An order directing the 1st and 2nd defendants, jointly and severally, to pay the claimant the sum of US$70,000 (Seventy Thousand US Dollars) being the total loan advanced, now due and unpaid.

“An order directing the 2nd defendant to pay the claimant the sum of ₦800,000,000 (Eight Hundred Million Naira) being the total sum paid for 50% equity in the 1st defendant, despite knowing the company was moribund.

“An order awarding post-judgment interest at 10 per cent per annum on the total judgment sum from the date of the judgment until full satisfaction of the debt, and such further orders as the court may deem fit.”
(PUNCH)

Metro

Edo Assembly Declares Okpebholo’s Projects Unprecedented

Published

2 days ago

December 10, 2025

Editor

The Edo State House of Assembly has described projects embarked upon by Governor Monday Okpebholo as unprecedented in the history of Edo State.

Deputy Speaker of the House, Hon. Atu Osamwonyi, made the assertion when he led members of the legislature on a comprehensive oversight inspection of several ongoing infrastructural projects.

Other lawmakers on the oversight team included Hon. Addeh Isibor, Hon. Yekini Idaiye, and Hon. Ugabi Kingsley.

Hon. Osamwonyi, who spoke during an assessment tour of the Sapele Road Flyover, said the lawmakers were in the field to verify the progress of work and ensure that funds appropriated by the Assembly were being judiciously utilised.

According to him, the flyover represents a milestone for Benin City and reflects the governor’s commitment to infrastructural renewal.

He emphasised that unlike past administrations where funds were approved with no tangible results, the Okpebholo-led government had demonstrated transparency and visible delivery.

“In my entire life in Edo State, this flyover project is the first of its kind. We are here physically, and work is ongoing,” he said.

The Deputy Speaker added that the Assembly had earlier inspected the Ramat Park Flyover on Monday, noting similar levels of progress.

“This is the fifth site we have visited since yesterday. We are impressed with what we have seen so far, and as a House, we will stand by the governor to ensure he finishes strong,” he said.

At Ogheghe, Old Sapele Road and Ekae Road—where a 14-kilometre road and concrete drainage network is underway—Hon. Osamwonyi described the construction efforts as unprecedented, expressing astonishment at the level of work done within a short period.

He insisted that the legislature does not play politics with accountability and would speak the truth at all times.

“If Governor Okpebholo was not doing well, we would say it. But I stand here today to affirm that the funds appropriated are being used judiciously for the benefit of the people.l”, he noted.

He further remarked that despite limited financial resources, the governor had delivered projects many believed were impossible.

The Deputy Speaker recalled that several communities, particularly in Ogheghe, previously suffered from severe road degradation that made access impossible, even for motorcycles.

“But today we are standing here with joy. The governor has brought democracy to Edo in a way the people can feel,” he said.

According to him, contractors handling the projects confirmed that although the initial timeline was two years, work would likely be completed within one year and six months due to the speed of implementation.

“That tells you that Governor Okpebholo is not eating Edo people’s money,” he added.

Hon. Osamwonyi stressed that the Assembly would resist any attempt to derail the governor’s momentum.

“This is the continuity we want in Edo State. Anybody who wants to thwart the governor’s efforts, we will not agree,” he said.

The oversight team also visited the 5.86-kilometre road project linking Amagba and Obagie-N’Ebvuosa, where the engineer handling the project reported that 4.3 kilometres of drainage had already been completed.

Metro

Edo Final-year Student Dies In Sign-out Motorcade Crash

Published

2 days ago

December 10, 2025

Editor

A yet-to-be-identified final-year student of Ambrose Alli University, Ekpoma, Edo State, has lost his life in a road crash after he and some other students embarked on a motorcade parade to celebrate the completion of their final examinations.

It was learnt on Tuesday from a Facebook user, Inside Edo, that the accident occurred on Monday shortly after the students finished their final examination.

Inside Edo disclosed that the vehicle had attempted to overtake another before losing control and ramming into a truck.

The post read, “A tragic accident has occurred at Ujoelen, close to the primary school, resulting in the death of a newly graduated student of Ambrose Alli University, Ekpoma.

“According to eyewitnesses, the crash happened during an attempted overtaking by one of the vehicles involved.

“The risky manoeuvre reportedly led to a loss of control, causing the fatal incident. Residents who were nearby rushed to the scene, but the victim could not be saved.”

Similarly, the News Agency of Nigeria reported that the students were said to have been driving recklessly before crashing into a stationary truck.

The deceased was said to be part of a convoy made up of fresh graduates of the university.

NAN reported, “He was reportedly part of a convoy of fresh graduates who took to the highway on Monday shortly after their signing-out activities.

“Witnesses said the group drove recklessly and failed to observe basic safety rules during the celebrations.

“The tragedy occurred when the deceased attempted to overtake a moving truck but collided with a stationary vehicle parked along the road.”

Efforts to get the reaction of the Edo State Sector Commander of the Federal Road Safety Corps, Cyril Mathew, proved abortive, as the official number available on the FRSC directory was not reachable at the time of filing this report.

Meanwhile, NAN reported that Mathew later confirmed the incident, adding that one person died while five others were injured in the crash.

“The students, after writing their last paper, took to the road in a convoy.

“In the process, one of them overtook another vehicle and rammed into a stationary truck,” NAN quoted Mathew as saying.

Metro

One Dies In Oyo Fire, Two Rescued

Published

2 days ago

December 10, 2025

Editor

One person lost her life in a fire incident at Agbaakin Street, behind Testing Ground, Iwo Road, Ibadan, the Oyo State capital, on Monday.

This was contained in a statement by the Chairman of the State Fire Service, Maroof Akinwande, in Ibadan, on Tuesday.

He said the fire resulted from a lighted charcoal cooking pot left unattended, which ignited nearby combustible materials.

Akinwande added that the firefighting operation was successfully carried out with the support of officers of the Federal Fire Service.

“The fire emergency was received at exactly 20:18 hours on Monday, December 8, 2025.

“On getting there, it was two rooms on the upper floor of a private residential building of 12 rooms engulfed by fire.

“One person (female) was recovered, while two persons (males) were rescued alive. The fire also affected only two rooms, and the whole building and other properties worth millions of naira were saved by the officers of the agency.

“The fire incident was a result of a lighted charcoal cooking pot left unattended, which ignited nearby combustible materials. The operation was jointly carried out with the Federal Fire Service, Ibadan Command,” he explained.

In a related development, a fire incident on Tuesday engulfed the Agric Business Development Agency at Total Garden in Ibadan.

A statement by the State Fire Service Chairman, Akinwande, said the agency received a telephone call through Mr Akinyinka reporting that fire had ravaged the place.

“The incident was reported at exactly 09:20hrs on Tuesday, December 9, 2025, through a telephone call by Mr Akinyinka (the General Manager, Oyo State Fire Services Agency) to the office, reporting a fire at the above-stated address.

“The officers, led by ACFS Oyeniyi Taofeek, swiftly mobilised and deployed to the scene. Upon arrival, it was discovered that electrical sparks from a solar inverter control board on the upper floor of the building resulted in the fire.

“The swift response and professional intervention of our officers prevented the situation from escalating into a fire disaster. The use of portable fire extinguishers was employed during the firefighting operation.

“No casualty was recorded, and properties worth millions of naira were saved by the fire service. The fire incident was a result of electrical sparks from the inverter system,” the statement read.

The chairman, therefore, advised the public to always use correct cables and other electrical materials for their installations.