Billionaire Tony Elumelu is in Paris where he attended President's Macron's #TechFoodGood Summit. Mark Zuckerberg also attended the summit and himself and Tony used the opportunity to bond again.
Captioning the photos he wrote; ''At @emmanuelmacron ‘s #techforgood summit in #paris @zuck & I caught up on his #F8 presentation which featured @ubagroup ‘s #LEO & future plans to build on our existing partnership!
#TOEWay #Africapitalism #artificialintelligence #whoisleo #meetleo''
The Investments and Securities Tribunal, Abuja, on Wednesday ordered First City Monument Bank Plc (FCMB) to pay N988.5 million to a stock broking firm after a decade long dispute.
Valueline Securities and Investments Ltd, who brought the bank before the tribunal, said the debt was from shares purchase fund allegedly misappropriated in 2008 by the defunct FinBank Plc with which FCMB merged in 2012.
The claimant joined the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) as respondents in the suit.
The matter had been handled by the SEC, CBN and the Federal High Court over ten years without success.
The Chairman of the Tribunal, Siaka Idoko-Akoh, while delivering the judgment, said the Tribunal found FCMB liable and ordered the bank to pay the claimant an outstanding debt of N988.5 million.
Other members of the Tribunal that heard the case were: Jude Udunni, Mamman Zargana, Edward Ajayi, Emeka Madubuike and Albert Otesile.
Mr Idoko-Akoh also ordered the bank to pay accrued interest calculated at 18 per cent as earlier directed by SEC.
He also ordered the bank to pay a penalty of N500,000 to the claimant as cost of the legal action and a further 10 per cent interest as judgment debt.
The Tribunal said the mandate for FCMB to liquidate the debt was subsisting and also nullified the decision of SEC and CBN to vary the payment computation formula.
It clarified that the payment of 18 per cent interest was from August 22, 2013 until the date of judgment, and thereafter at 10 per cent post judgment until the final liquidation of the debt
NAN
Judith Wandera, 24, has been imprisoned for 15 years by Kisumu Court after she was found guilty of defiling 16-year-old boy. Wandera was accused of defiling the minor on various dates with witnesses lined up by the prosecution pointing out an accusing finger on the woman.
A prosecutor Nyakundi Mukaya told the court that medical evidence from specimens collected from the duo confirmed that the woman and the schoolboy were having an intimate affair. He noted that the boy had been living with the accused for more than four months. The court heard that as a result of the affair, the minor dropped out of school and moved in with the accused before the boy was rescued by police officers.
“The boy was rescued on July 7, 2017 and the accused was arrested by police officers,” said Mukaya.
After the recue, he said, the boy was taken to a correctional facility before he was released back to his parents. Parents of the boy told the court that their son stopped taking school seriously after he met the woman and they sought the intervention of the police after the boy started living with her.
But in her defense, Wandera said that she did not know that the boy was a minor adding that he was a drug addict by the time they met. “We met at a drinking joint one evening of April 2016 in Kondele where he even offered to buy me drinks. We exchanged phone contacts and started dating,” Wandera added that she could not establish the age of the boy because he was also a boda boda operator and only appeared “young when he came to testify”.
“He had dreadlocks when we met and only appeared young after his dreadlocks were shaved before he was brought to court to testify,” said Wandera in her defence.
The parents of a 30-year-old man have resorted to drastic measures in an effort to get their son to fly the coop: they are suing him.
Court documents say Michael Rotondo does not pay rent or help with chores, and has ignored his parents' offers of money to get him settled.
Despite doling out five eviction letters, Christina and Mark Rotondo say their son still refuses to move out.
Michael is arguing that legally, he was not given enough notice to leave.
Mr and Mrs Rotondo filed their case with the Onondaga County Supreme Court, near Syracuse, New York, on 7 May, after months of unsuccessfully urging their son to leave.
The would-be empty nesters' lawyer, Anthony Adorante, told Syracuse.com the couple did not know how else to get their adult son out of their house.
"We have decided that you must leave this house immediately," reads the first letter, dated 2 February, according to court filings.
When Michael ignored the letter, his parents wrote up a proper eviction notice with the help of their lawyer.
"You are hereby evicted," a 13 February notice signed by Mrs Rotondo reads.
"A legal enforcement procedure will be instituted immediately if you do not leave by 15 March 2018."
The couple then offered their son $1,100 (£819) to move out - along with some sharp commentary about his behaviour.
"There are jobs available even for those with a poor work history like you. Get one - you have to work!" they said.
By 30 March, however, it was becoming clear their son had no intention of leaving.
In April, Mr and Mrs Rotondo went to their local town court to see if they could evict their son.
But they were told that because Michael is family, they would need a Supreme Court justice to officially send him packing.
According to WABC News, Michael has called his parents' lawsuit "retaliatory" and has asked the court to toss out the request.
The Rotondo family will take their case to Supreme Court later this month - some weeks ahead of Michael's 31st birthday.
One of the great American authors, Philip Roth, has died aged 85.
The Pulitzer, National Book Award and Man Booker International Prize-winning novelist's work drew its inspiration from Jewish family life, sex and American ideals.
His works included American Pastoral, I Married a Communist and Portnoy's Complaint.
The New York Times reported that a close friend of Roth's said he had died of congestive heart failure.Author Philip Roth Dies Aged 85
