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N200b Agric Credit Dispute: Appeal Court Slams NAIC, Upholds First Bank Victory

The Court of Appeal, Abuja, has dismissed the appeal filed by the Nigerian Agricultural Insurance Corporation (NAIC) against First Bank of Nigeria in the long-running dispute over the disbursement of the Federal Government’s N200 billion Commercial Agriculture Credit Scheme.
The decision was one of seven precedent-setting judgments delivered in six hours on Friday by Justice Okon Abang, underscoring his reputation as a hardworking, firm, and uncompromisingly principled jurist whose rulings continue to shape Nigeria’s legal landscape across criminal, human rights, banking, and civil litigation.
In 2013, the NAIC dragged First Bank before the Federal High Court via originating summons, alleging that the bank failed to deduct the mandatory 2.5 per cent premium under the agriculture credit scheme. First Bank promptly filed a counter-affidavit and written address, with both sides joining issues and exchanging further processes over the years.
But when the case was ripe for hearing, NAIC sought to suddenly withdraw its suit—claiming an unnamed Bankers’ Committee representative had approached it for an out-of-court settlement.
READ ALSO:Court Dismisses SPDC’s Objections To Compensation Over Hydrocarbon Pollution In A’Ibom
First Bank objected, insisting that once pleadings had been exchanged, withdrawal without consent should lead to dismissal, not a mere striking out. To strike out, the bank argued, would allow NAIC a second bite at the cherry—an abuse of process.
The Federal High Court agreed and dismissed the suit, prompting NAIC to head to the Court of Appeal.
Delivering the unanimous judgment of the Court of Appeal, Justice Abang held that NAIC’s appeal was “grossly misconceived” and that, having seen the bank’s defence, NAIC attempted to retreat and re-strategise, “only being smart, believing that it could cunningly manipulate judicial proceedings to save a suit that appears weak and manifestly unsupported.”
He stressed that, once a defendant’s counter-affidavit has been served, any withdrawal by the claimant must naturally lead to dismissal, not striking out, to avoid overreaching the respondent.
READ ALSO:N6trn: Court Orders Tinubu To Publish NDDC Audit Report, Name Indicted Officials
Justice Abang agreed with the trial court that, “Since issues have been joined and the matter has previously been adjourned on several occasions, the proper order to make on the application of the plaintiff is to dismiss the suit.”
The Court of Appeal also questioned NAIC’s reliance on an alleged intervention by the Bankers’ Committee—a non-party that had earlier resisted being joined in the matter.
The appellate court concluded that NAIC, having sighted the bank’s counter-affidavit, simply lost confidence in its case and sought a “soft landing” to refile later.
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“This cannot be allowed under our watch. The appellant cannot command the impossible,” Justice Abang held, agreeing with the decision of the Federal High Court and dismissing NAIC’s appeal in its entirety, affirming the lower court’s ruling and awarding N1 million costs in favour of First Bank.
The judgment revisits the implementation of the N200 billion Commercial Agriculture Credit Scheme (CACS) launched in 2009 and funded through a DMO-issued bond. The scheme was a flagship intervention of the CBN to boost agricultural productivity through low-interest financing capped at nine per cent.
(GUARDIAN)
News
Shatta Wale Bailed Burna Boy From Ghana Prison After Arrest For Smoking Weed – Captan
Ghanian singer, Captan, has claimed that his former record label boss, Shatta Wale, once bailed Nigerian singer Burna Boy out of prison in Ghana after he was allegedly arrested for smoking weed.
Speaking in a recent podcast interview, Captan claimed that Shatta Wale sent him and others to free Burna Boy from police custody.
He also claimed that Shatta Wale and his group once accommodated Burna Boy when he was being hunted by some dangerous men.
READ ALSO: Wale Edun Opens Up After Sack
Captan said, “I once bailed Burna Boy out of prison in Ghana when he was arrested for smoking weed. Shatta Wale sent me and some guys to go and free him from police custody.
“There was a time we also accommodated him when some people were after his life. We helped him settle the case.”
He added that he and Burna Boy are no longer in good terms after the Nigerian artist’s fallout with his mentor, Shatta Wale.
He, however, said he and Shatta Wale are open to reconciling with Burna Boy if he asks for it.
Watch the video here
News
Children’s Day: Chaos At Ogbe Stadium As Dozens Faint
Chaos erupted on Wednesday during the Children’s Day celebration as dozens of students reportedly collapsed following a stampede triggered by the use of pepper spray.
The event,
organised by the Edo State Ministry of Education at the Samuel Ogbemudia Stadium was disrupted after some male students of Ihogbe College allegedly made uncompromising advances towards female students at the venue.
A parent who identified himself as Oboh Emmanuel said, “the behaviour of those uncultured students attracted the attention of bouncers stationed at the stadium as they rebuked the male students.”
Oboh said the affected students later regrouped and attacked the bouncers, leading to a confrontation within the crowded arena.
READ ALSO:Children’s Day: Edo Commits To Child Protection
It was gathered that in the ensuing confusion, the bouncers were reported to have deployed pepper spray in an area occupied by a large number of students.
Several students, particularly female students, reportedly fainted after inhaling the substance, while others sustained injuries after being stepped on during the ensuing melee.
The panic was said to have spread across the stadium as students, teachers and parents scampered for safety.
Many of the affected students were reportedly rushed to the Edo Specialist Hospital for medical attention.
READ ALSO: Egor LG Chair, Ogbemudia, Vice, Osawe Impeached
Reacting to the incident, Chief Press Secretary to Governor Monday Okpebholo, Dr Patrick Ebojele, said the security personnel that fired the tear gas had been detained.
He said all the students, except two, that were rushed to the hospital have been discharged.
Ebojele stated that doctors wanted to observe the students till tomorrow before allowing them to go home.
“The two students are not seriously injured. Doctors want to observe them overnight. Permanent Secretary, Ministry of Education is still at the hospital. The man who used pepper spray has been detained.
“The incident did not happen the way it is being exaggerated. All modalities were put in place to ensure the children enjoyed their day.”
News
Okpebholo Salutes Edo Muslims, Seeks Continued Support, Prayers
Governor Monday Okpebholo of Edo State has urged Muslims and all Nigerians to continue to pray for peace, unity and progress in the country even as they celebrate the annual Eid-al-Adha
The governor, who was represented by his deputy, Dennis Idahosa, stated this during the annual Eid-al-Adha celebration with Muslim faithfuls held at Government House in Benin City.
He reiterated his administration’s commitment to fairness, inclusivity and equal opportunities for all citizens irrespective of religion and tribe.
READ ALSO:ADC Penetrates Okpebholo’s District As Defections Strengthen Party in Edo Central
According to him, the present administration remains determined to building a government that reflects the diversity of Edo State, noting that competent and qualified Muslims have continued to play vital roles in his government because of their capacity, integrity and commitment to service.
“As a government, we remain committed to fairness, inclusivity and equal opportunity for every Edo citizen, irrespective of religion, ethnicity or political affiliation. This is why quality and competent Muslims are serving in key positions in our administration.”
Okpebholo appreciated the Muslim community in Edo State for their unwavering support and continuous prayers for his administration, noting that such prayers and support have contributed immensely to the peace and steady development being witnessed across the state.
READ ALSO:Okpebholo Felicitates Muslims On Eid-el-Fitr Celebration
He then called on all Nigerians to use the occasion of Eid-al-Adha to pray for the administration of President Bola Ahmed Tinubu, stressing that the country needs collective prayers, unity and cooperation to overcome its present economic and security challenges.
“I urge all Muslims and indeed all Nigerians to use this occasion to pray for our dear nation and for the administration of President Bola Ahmed Tinubu. Nigeria needs our collective prayers, unity and support as we strive to overcome our challenges and build a more prosperous future for all.”
In his remarks, the Chief Imam of Edo State, Abdulfatai Enabulele, applauded the governor for what he described as remarkable developmental strides recorded in less than two years in office.
The cleric commended the administration for ongoing infrastructural development and efforts geared towards improving governance in the state, but appealed to the government to revisit and complete some abandoned projects inherited from the previous administration for the benefit of the people.
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