THE TRUTH ABOUT UK BASED JUPITER LITHIUM LIMITED AND NIGERIA’S BASIN MINING LIMITED- BY KEHINDE BAMIGBETAN. (PHOTO). #PRESS RELEASE.

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 The truth about UK based Jupiter Lithium Limited and Nigeria’s Basin Mining Limited  By Kehinde Bamigbetan The coming visit of Nigeria’s President Bola Ahmed Tinubu to the United Kingdom is generating high expectations on the back of positive evaluations of his economic management by international rating agencies and policy institutions. The invitation by King Charles highlights the diplomatic recognition and respect Nigeria commands within the United Kingdom’s political landscape. Yet, as arrangements for what promises to be a great achievement in diplomacy peak, a lawless gang of influence-peddlers is circling the sky like a kettle of vultures, seeking to dim the shine of the epochal event with lies, bile and blackmail. Editors, readers, listeners and viewers should be wary of the poisonous and toxic content of the gargantuan falsehood from the mill of Steve Davis and his fellow traveller, Hamish Macdonald, who, by the way, seems unrestrained by the honorific title of the B...
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ALLEGED FOREX, INVESTMENT FRAUD: COURT ORDERS INTERIM FORFEITURE OF N1.3BN HOTEL LINKED TO IKEJA CHAMBER MD, EDWARD OLUTOKE. (PHOTO). #PRESS RELEASE

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 Alleged Forex, Investment Fraud: Court Orders Interim Forfeiture of N1.3bn Hotel Linked to Ikeja Chamber MD, Edward Olutoke


Justice A.O. Owoeye of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, March 12, 2026, ordered the interim forfeiture of a hotel, Responsible Leaders Hotel, linked to Edward Olutoke, Managing Director, Ikeja Chamber of Commerce, Industry and Agriculture.


The property, located at 1, Ostra Close, Jobi Fele Way, Alausa, Ikeja, Lagos, is valued at about N1.3bn.


The judge gave the order, following an ex parte motion filed by the Economic and Financial Crimes Commission, EFCC, through its counsel, C.C. Okezie.


Moving the application for interim forfeiture, Okezie told the court that the application was supported by an affidavit deposed to by Obed Tanko, an investigator with the EFCC.


Tanko, in the affidavit, stated that the suspect allegedly obtained billions of naira from unsuspecting investors under the guise of operating a capital-guaranteed forex trading and investment scheme.


According to him, the petitioners allegedly invested various sums of money after being assured that the company was registered and accredited to carry out forex trading and investment activities.


Investigations, however, revealed that neither the suspect nor the organisation possessed the necessary regulatory approval to operate such an investment scheme.


Further investigation also revealed that the funds collected from several investors were allegedly diverted and used to acquire luxury assets, including the hotel.


Okezie, therefore, submitted that the property was reasonably suspected to have been acquired with proceeds of unlawful activities.


Justice Owoeye, having been fully persuaded by the evidence presented before the court, granted the application as prayed.


The judge also directed the Commission to publish the interim order in any national newspaper to enable any interested person to appear before the court and show cause why the property should not be finally forfeited to the Federal Government of Nigeria.

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