POLICE ARREST TWO SUSPECTED CRIMINALS, RECOVER TWO BERETTA PISTOLS, NINE ROUNDS OF LIVE AMMUNITION, SUSPECTED COCAINE, AND MERCEDES-BENZ SUV. (PHOTO). #PRESS RELEASE.

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 DELTA STATE POLICE COMMAND PRESS RELEASE POLICE ARREST TWO SUSPECTED CRIMINALS, RECOVER TWO BERETTA PISTOLS, NINE ROUNDS OF LIVE AMMUNITION, SUSPECTED COCAINE, AND MERCEDES-BENZ SUV The Delta State Police Command has recorded another significant operational success with the arrest of two suspected criminals and the recovery of firearms, live ammunition, suspected cocaine, and other incriminating exhibits during a stop-and-search operation carried out by operatives of the Safer Highway Patrol along the Agbarho–Warri Road on 25 July 2026. The suspects, Omini Ezeri (46) and Chinedum Wagbara (42), both residents of Port Harcourt, Rivers State, were intercepted while travelling in a grey Mercedes-Benz ML SUV with registration number AAA 604 JZ. During preliminary interrogation, a third occupant of the vehicle, God Knows Ifreke, suddenly took to his heels and escaped into a nearby swamp. A thorough search of the vehicle led to the recovery of two locally fabricated Beretta pistols loade...
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COURT NULLIFIES CBN’S SACK OF UNION BANK’S BOARD, RESTORES CORE SHAREHOLDERS. (PHOTO).

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 Court nullifies CBN’s sack of Union Bank’s board, restores core shareholders


In a landmark judgment, a federal high court sitting in Lagos has ruled that the Central Bank of Nigeria (CBN) acted beyond its powers when it sacked the board and management of Union Bank of Nigeria in January 2024.


Delivering the judgment on Wednesday morning, Justice Chukwujekwu Aneke quashed all the decisions and steps taken by the CBN-appointed board and ordered that the former board and management be restored.


The court also prohibited the CBN and its appointed board and their agents from taking any step or continuing any steps towards recapitalisation or any other related act.


In January 2024, the CBN announced the dissolution of the board and management of the Union Bank, appointing Yetunde Oni as the managing director/chief executive officer and Mannir Ubali Ringim as the executive director.


The core shareholders, Titan Trust, Luxis International and Magna International,  launched the litigation by filing an ex-parte motion at the federal high court in Lagos to seek a judicial review of CBN’s actions so far.


They challenged the decision of the CBN to replace the existing directors of Union Bank as well as the proposed “unlawful recapitalisation” of the bank by the interim board, all allegedly done without following due process.


They also sought a suspension of the CBN, Union Bank and the directors “from taking any further action in respect of the Proposed Unlawful Recapitalisation pending the determination of the judicial review applications”.


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On December 5, 2025, the court granted the order and has now delivered the final judgment.


The defendants in the suit are the CBN governor, the CBN, Bayo Adeleke, Yetunde B. Oni, Oluyinka Abimbola Morgan, Ibrahim Musa Oruma, Chiamaka Ezenwa, Mohammed Balarabe, Eileen Shaiyen, Mojisola Olateru-Olagbegi, Mannir Ringim, Taiwo Shote, Kelechi Nwaoba and Union Bank.

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