Glencore, AFC, Mauritius Bank, Fidelity Sue First Bank Trustees and Receiver, Abubakar Sulu Gambari Allege unlawful attempt to hijack Neconde-Nestoil linked OML 42 asset
In a significant escalation in the ongoing legal battles shaping Nigeria’s oil and gas sector,
a consortium of international financial institutions—Glencore Energy UK Limited, Africa
Finance Corporation, Mauritius Commercial Bank, and Fidelity Bank—has filed a lawsuit against
FBN Trustees Limited. The action targets both FBN Trustees and the appointed receiver,
Abubakar Sulu-Gambari SAN, over what the foreign lenders allege is an unlawful attempt to
seize control of Neconde Energy Continued on page 8
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Tuggar to Investors: Do Not Write Off Nigeria Based on Isolated Security Concerns Seeks international support for training, equipment, says Africa’s geopolitical risk overhyped
Emmanuel Addeh in Abuja Minister of Foreign Affairs, Yusuf Tuggar, yesterday, urged foreign
investors not to judge Nigeria’s prospects through the prism of isolated security incidents. Tuggar said such cases did not reflect the
reality of Africa’s largest economy and its long-term investment fundamentals. Speaking to CNN on the
side-lines of the ongoing World Economic Forum (WEF) in Davos, Switzerland, Tuggar, acknowledged Nigeria’s security challenges. But
he stressed that they were localised and being actively addressed by the government. He said the tendency to generalise
insecurity across the entire country had often led to exaggerated risk Continued on page 8
CAN: Initial Police Denial of Worshippers’ Abduction Troubling Demands responsibility, sensitivity in security communication Sani visits, promises safe return of victims Atiku laments audacity of bandits Government, police denial shameful, declares PDP
Chuks Okocha, Michael Olugbode, Kuni Tyessi, Linus Aleke in Abuja, David-Chyddy Eleke in Awka and Onuminya Innocent in Sokoto Christian Association of Nigeria (CAN), yesterday, said initial public denial of reports on the abduction of 170 worshippers in Kurmin Wali community, Kajuru Local Government Area of Kaduna State, by the Nige-ria Police, before any verification, was not only troubling, but also generated confusion, heightened fear, and unfairly questioned the credibility of eyewitnesses who raised the alarm. Three churches had been simultaneously attacked in the community last Sunday by gunmen, who abducted 170 worshippers, while some escaped. But Kaduna State Commissioner of Police, Muhammad Rabiu, said late Monday that police visited Continued on page 8
WEF 2026 SESSION ON EMERGING MARKET JOBS...
L-R: President of the World Bank, Ajay Banga; Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; President of Singapore, Tharman Shanmugaratnam; and Co-Founder and Chairman of the Board of Infosys, Nandan Nilekani, during the World Economic Forum (WEF) 2026 session titled “A Coming Challenge in Emerging Market Jobs,” where they served as panellists