General News
Leo Stan Ekeh: A “Rare Avis”, an Unconquerable Entrepreneur
By Tim Akano
Leo Stan Ekeh (LSE) is an extraordinary human being. He is extremely hardworking, hugely brave, and massively intelligent. He is a shrewd businessman but with a cathedral-size heart of butterfly
Leo Stan Ekeh
I’m a product of LSE’s generosity. But not only me, I am close enough to know. We are uncountable.
I was always with him after office hours in his office twenty years ago when he was constructing a church in his place of birth. He was so committed to details and beauty that when the church was roofed and he went for inspection and discovered some misalignment, he instructed the contractor to remove the roof and redo it, without minding the extra cost coming from his pocket.
There was this physically challenged fellow that LSE bought a car for, including a driver to make life easier for her.
During one of his birthday celebrations, he told me, Tim, I am not inviting my friends for any birthday party this year, all the money I would have used in buying expensive wine, I am donating everything to charity
LSE & I
He actually looked for me when I started New Horizons. He read my interview in the Vanguard news paper and asked his staff to look for me.
Prayer:
May each of us receive a telephone call before the end of 2025 that will change our life’s trajectory for good for ever in Jesus name, Amen.
I did.!
Our conversation on that fateful Friday went like this:
LSE: Tim, I read your interview in the newspaper. I would like us to meet.
Tim: You are our LEADER in the Technology ecosystem, Sir.
I can come to your house tomorrow Saturday morning for a breakfast.
LSE: Tim, that’s good, I will be expecting you by 8am tomorrow in my house.
By 8am the following day, I was in his massive, intimidating house.
As I entered the premises I said a simple prayer: The God Almighty who is blessing LSE, please Daddy God be kind to me also in my entrepreneurship journey Amen.
That day the breakfast meeting went well. He wanted to see the man behind the ambitious vision of transforming the ICT education in Nigeria.
He saw tomorrow!
1 LSE First Intervention: Two years after I started my company, New Horizons, I ran out of cash, even to pay salary was a prayer item every 30th of the month. That was May, 2007 it remained just 72 hours for Heaven to fall on my head, metaphorically speaking, that is!
I needed N10M to stop HEAVEN FROM CRASHING ON MY HEAD!
Banks in Nigeria are irrelevant to Start-ups, except and until you START WALKING, Banks will not come to your assistance in Nigeria.
It is O.Y.O (On Your Own) for every Start-up. If you don’t have God 100% on your side, don’t dabble into entrepreneurship in Nigeria!
This is why over 80% of Start-ups failed in Nigeria. In America, it is about 50%.
LSE was in Abuja on this particular Thursday. I called him and requested to see him. He told me to come.
Our conversation went like this:
LSE: Tim, I know you are keeping well.
Tim: My chairman, I am strong in faith, but in reality, heaven is hot on my side o! I need help, Chairman.
LSE: What is the matter, Tim?
Tim: I need N10M soft loan to keep afloat. It is urgent, critical and time- bound.
LSE ok, Tim, see me on Monday (that meeting took place on a Thursday).
Tim: My chairman, I am not exaggerating the criticality of my situation. by Monday it would be too late because Heaven would crash on my head in another 72 hours without the N10M! And it would be all over.
LSE adjusted himself, he breathed in , he looked me straight in the eyes. I wouldn’t know what LSE saw in my eyes that day.
But he stood up, went to the inner room and he came out with his cheque book. He gave me an Access Bank cheque for N10M, which I later refunded 3 months later without interest.
I survived, heaven didn’t fall that day, glory be to God and thanks to LSE.
LSE intervention 2:
This time we had grown, having survived the ABIKU YEARS (The first 5 years of Start-up are the ABIKU YEARS, years of premature, sudden death. If you survive the first 5 years, your chances of living to celebrate your 20 years in business are bright). We did, all gratitude to God.
I got a business that required huge capital to execute- very big money, which was beyond my capacity.
I went to my destiny- helper again. He is never tired of seeing me. He picks my calls on the first ring. But I don’t abuse the access too. No frivolous conversations. No irrelevant calls. Every call is about matter and mission critical
This particular day LSE was looking extremely tired, having over flogged his body.
He told me he had been sleeping in the office for about 3 days, busy putting his papers together to enable him close a massive business deal, which he eventually got, after fighting like a lion whose cub was taken by a lone leopard!
LSE overwhelmed every opposition. He fought like Mohammed Alli, the world’s greatest boxer of all time. LSE won.
And that changed everything for him, too, forever. Fortune favours the Brave
Our conversation that day went like this:
LSE: Tim, congrats you are doing well, I can see. Indeed I instructed all my staff to make sure they read any article you published (“I felt flattered”).
Tim: Chairman, I need your help, KONGA is not ready to give me the products I needed on credit and I don’t have cash to pay and the client will not pay me until after 9 months.
Tough one, indeed.
LSE: Tim, I will be honest with you, there is no way KONGA would give you products worth N500M (10 years ago money!) on credit.
Indeed, we held a meeting on Monday over your matter, the resolution of the Zinox Group is that you must look for cash before you can get the products. Let me tell you, my staff made me to sign-off on our resolution that as the Chairman of Zinox , I, LSE will not go behind to do the opposite of what we all agreed to, and I signed. Tim, I am sorry, my hands are tied!
As of that time, some of the young people LSE helped disappointed him badly. So bad, some souls are ungrateful.
Tim: Chairman, I know some of the people you helped even went to the extent of wrongfully blackmailing you in the media. I know that for a fact.
But Chairman, I am different. I am Tim Akano, I won’t disappoint you.
I will remain eternally grateful if you can still think out- of -the box and help me out.
I added: Chairman, you recall you were the one who looked for me that you would give me a helping hand in life.
I think my last statement touched him.
LSE Tim, I will give you my personal cheque. Here is the cheque for you, take it to KONGA and pay for your goods to meet your deadline.
Tim On getting to KONGA, from my steps and tone, the staff knew something positive had happened.
I confidently presented my cheque to Loretta & Co, the lady managing our account in KONGA then
They were shell shocked that God pulled it through for me another time, using Leo Stan Ekeh.
There were many more positive interventions, which I will reserve for my memoir.
Lessons: The reason behind the rise and rise of Leo Stan Ekeh (LSE) has to do partly because of his massive generosity, most of them are done silently.
Yes, LSE is a shrewd businessman, but he has a heart of a butterfly.
2 LSE is unconquerable and himself and his lineage will remain so because of several lives he has impacted positively
3 We are all products of people’s generosity. No one is a self-made man. In my own corner, through the TIM AKANO FOUNDATION, I am giving back in thousands folds all the kindness I am enjoying from people like LSE & others. I’m not withholding any kindness from people who need it when it’s within my capacity. God saw my heart, too, that when he must have helped me to stand, I will light thousands of candles.
It was William Shakespeare who admonished his followers to tell him all the good things they wanted to tell him while he was still alive because tributes written in beautiful prose means nothing to a dead person.
I congratulate LSE children, they have a great father in and his legendary generosity will always speak for them up to the 4th generation., as the Holy Bible said. LSE children should be proud of their father, he is a Lion, an Eagle and a butterfly, (LEB) all together at the same time.
@LSE: Sir, if you manage to read this short public appreciation, which I was inspired to write in a wedding event (the couple is taking over one hour to come out, instead of joining people who are anxious, I decided to use my idle time to pay you this tribute today), I want you to feel proud of yourself; what you have achieved will take an average person 10 lifetimes to achieve.
Your positive numerous interventions in my entrepreneurship journey have germinated and I am also touching lives- like you- in thousands across Africa, not only in Nigeria, especially with regards to Youth Empowerment.
I am eternally grateful, my chairman, my destiny-helper.
My prayer for you my Chairman, LSE: The Lion, the Eagle, the Butterfly (LEB) is for God to keep you continuously in sound, divine health, peace and happiness- that you will still remain strong at 120 years of age like the Biblical Moses who miraculously escaped physical depreciation in his eyes, strength and mental magnitude.🙏
Gratitude!
Gratitude!!
Gratitude!!!
Federal High Court sitting in Lagos has ordered the freezing of bank accounts belonging to Petrocam Trading Nigeria Limited and Patrick Ilo, its founder, over an alleged N9.05 billion debt.
Patrick Ilo and Petrocam Filling station
Justice Chukwujekwu Aneke of the court granted the interim orders in Suit No: FHC/L/CS/393/2026 which was an ex parte application filed by Zenith Bank to preserve funds allegedly owed by the defendants as of May 31, 2025.
It was gathered that the ex parte motion was argued by Chief A.A. Aribisala (SAN) on behalf of Zenith Bank.
While delivering the ruling on Wednesday, the court restrained the defendants, whether acting by themselves or through agents, privies, or assigns, from withdrawing, transferring, dissipating, or otherwise dealing with funds up to the sum of ₦9,057,511,855.63, pending the hearing and determination of the motion on notice.
“An interim order is hereby granted restraining the defendants/respondents, Petrocam Trading Nigeria Limited and Patrick Ilo, whether by themselves, their agents, privies or assigns, from withdrawing, transferring, dissipating or otherwise dealing with any funds up to the sum of ₦9,057,511,855.63 pending the hearing and determination of the motion on notice,” Justice Aneke ruled.
The court further ordered the freezing of all accounts linked to Bank Verification Number (BVN) 22141926401, which the bank alleged is being used by Ilo to operate Petrocam’s accounts.
In addition, Justice Aneke directed all financial institutions within the jurisdiction of the court to immediately place a lien or “Post-No-Debit” restriction on all accounts associated with the BVN.
According to the order, “All financial institutions within the jurisdiction of this honourable court are hereby directed to place a lien or post-no-debit restriction on all accounts linked to BVN 22141926401 pending further orders of the court.”
The order extends beyond traditional banks to key operators within Nigeria’s electronic payment ecosystem. Among those joined as respondents in the matter are the Nigeria Inter-Bank Settlement System, Interswitch Limited, and Interswitch Financial Inclusion Services Limited.
The court also directed the institutions to disclose the details of all accounts linked to the BVN. Justice Aneke ordered the respondents to file an affidavit of return within seven days, revealing all accounts connected to the BVN, their balances, and the transaction history covering the preceding six months.
Court documents filed in support of the application showed that the credit facility at the centre of the dispute was subject to several pre-disbursement conditions imposed by Zenith Bank.
According to the filings, Petrocam was required to formally accept the facility through its authorised signatories, provide a board resolution approving the loan, and disclose any existing indebtedness to other lenders, including facility limits, outstanding balances, and collateral pledged.
Other conditions included the domiciliation of sales proceeds and Sovereign Debt Note subsidy payments from Oando Plc and Total Nigeria Plc into Petrocam’s account with Zenith Bank.
The company was also required to submit relevant contract agreements for the bank’s approval and provide a five percent counterpart contribution for each transaction, while all required security documentation had to be executed before the facility could be disbursed.
The bank further stated that Petrocam was expected to submit quarterly management accounts within 60 days after the end of each quarter and audited annual financial statements within 120 days.
In addition, Petrocam was required to route all import duty payments and Letters of Credit through its account with Zenith Bank, establish Letters of Credit for petroleum imports, and obtain comprehensive marine insurance naming Zenith Bank as the first loss payee.
Court filings also revealed that General Marine and Oil Services Ltd had been appointed by the bank to monitor petroleum product warehousing at Petrocam’s expense.
The facility agreement further imposed foreign exchange obligations, authorising Zenith Bank to settle maturing Usance obligations at 12 percent interest if Petrocam failed to provide the necessary funds.
The bank maintained that in the event of default, Petrocam would be responsible for all legal, recovery, and ancillary costs arising from enforcement of the facility.
The court also granted Zenith Bank leave to serve the defendants through substituted means.
Justice Aneke ruled that the defendants may be served at their last known address in Victoria Island, Lagos.
The matter has been adjourned to March 17, 2026, for mention.
Telecommunications, energy, and fintech firms generate the highest number of consumer complaints in Nigeria, the Federal Competition and Consumer Protection Commission (FCCPC) has declared.
Tunji Bello, EVC, FCCPC
Tunji Bello, executive vice chairman, made this known on Thursday while briefing State House correspondents at the Aso Rock Presidential Villa, Abuja.
Bello said the commission had received thousands of complaints from Nigerians across these sectors and had recovered over N20bn for consumers as of March 2026.
According to him, the commission resolved more than 9,000 complaints and recovered over N10bn for consumers between March and August 2025 alone.
“Let me tell you where most complaints come from. Mostly on energy, fintech. For energy, people complain about the electricity supply, and so on. That’s where we get most complaints. And that led to recent action in Lagos against a disco. Also fintech. You know, people do a lot of transactions online, and most of them are either given unfair terms.
“Somebody has borrowed money, and then you discover that when they ask to pay back, the interest rate is outrageous. Most of them we have interrogated, and we’ve been able to resolve as many as possible,” Bello stated.
He added that the telecommunications sector and banks also account for significant complaints, noting that the commission receives about 25,000 complaints annually through various platforms.
Bello said cumulative recoveries for consumers had exceeded N20bn as of March 2026, up from N10bn recorded in October 2025.
Ghanaian authorities have arrested 93 Nigerian nationals over alleged involvement in internet fraud and immigration violations, as the West African nation intensifies its crackdown on cross-border cybercrime networks.
The arrests followed an intelligence-led raid by the Ghana Immigration Service (GIS) on six houses in Devtraco Estate in Accra believed to be operating as a hub for online fraud.
In a statement, GIS spokesperson Maud Anima Quainoo said the suspects comprised 91 men and two women and were arrested during a coordinated operation targeting a suspected cybercrime ring.
“This operation targeted six houses at Devtraco Estate where officers rescued 73 victims who had reportedly endured severe abuse and torture at the hands of the suspects,” said Quainoo.
Authorities said the victims were later repatriated to Nigeria.
Investigators recovered equipment suggesting a well-organised cybercrime enterprise. Items seized included 82 laptops, 57 mobile phones, 17 television sets, counterfeit US dollar notes and fake gold bars, along with household appliances believed to have supported the group’s operations.
Preliminary investigations indicate that some suspects entered Ghana through unauthorised border crossings, while others allegedly overstayed the 90-day visa-free entry period available to citizens of Economic Community of West African States countries.
The arrests are the latest in a growing list of cybercrime crackdowns in Ghana, highlighting the country’s struggle to contain increasingly sophisticated digital fraud operations.
In January, Ghanaian authorities arrested 53 Nigerians suspected of cybercrime and rescued 44 individuals believed to have been forced into online scam operations. In December, separate raids in Greater Accra led to the arrest of dozens of suspects linked to internet fraud syndicates.
Ghana has become a target for criminal networks running schemes such as romance scams, sextortion, online investment fraud, impersonation and mobile money scams. Victims are often recruited through fake job offers or promises of overseas opportunities before being forced to operate scam accounts targeting victims in Europe, North America and Asia.
Authorities have also uncovered cases involving digital gold trading scams, where fraudsters lure victims with fake mining investments or counterfeit gold deals.
The presence of high-speed internet equipment, including routers and satellite connectivity tools in previous raids, has further highlighted how cybercrime syndicates are leveraging advanced technology to expand operations.
Court Freezes Bank Accounts of Petrocam, Founder over Alleged N9Bn Zenith Bank Debt
FG Approves First National Policy on Cosmetic Safety, Health
FCCPC Says Telcos, Energy Firms Lead Consumer Complaints in Nigeria
Microsoft Expands Africa AI Push while DeepSeek Gains Users
Mobile Phones Used by Food Vendors Could Spread Infections- Experts
Dr. Cairo Ojougboh Foundation Bolsters Nigeria’s Education Drive with ₦2.7m Student Support
Kaspersky Brings more Transparency to Threat Detection with New Hunt Hub
Kaspersky Discovers New Phishing Campaign Exploiting Google Tasks Notifications to Steal Corporate Credentials
esentry 2025 Report Shows Healthcare, Financial Services and Telecoms as Staging Grounds for Increased Cyberattacks in Africa
AfDB, UNDP Launch $10Bn AI Initiative for Africa
Telecom3 days agoChina Threatens to Shut Nigeria’s Satellite Over $11.44m Unpaid Debt
Telecom3 days agoUS Court Dismisses All Claims Against Binance in Major Anti-Terrorism Lawsuit Victory
Telecom3 days agoTikTok Pumps $200k into AI Media Literacy for Sub-Saharan Africa at Nairobi Summit
General News3 days agoMore Nigerians Emerge Millionaires in Week 9 of NIVEA’s Consumer Campaign
E-Business3 days agoNITDA, Nkenne AI Seek to Localise AI for Nigerians
E-Business2 days agoFG Moves to Strengthen Children’s Online Safety
Telecom3 days agoNCC Orders Telcos to Report Cyberattacks Within 4 Hours from 2027
E-Business3 days agoMeta to Charge Location Fees on Ads to Six Countries from July 1, 2026