General News
Court Freezes Bank Accounts of Petrocam, Founder over Alleged N9Bn Zenith Bank Debt

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.
General News
Leo Stan Ekeh Foundation to Open Portal for 1,000 University Tech Scholarships on Monday

The Leo Stan Ekeh Foundation (LSEF), in collaboration with TD Africa, Konga Group, Zinox Technologies, and Task Systems, is set to officially launch its highly anticipated scholarship programme aimed at empowering 1,000 exceptional Nigerian indigent whiz-kids in the field of technology.

Leo Stan Ekeh
The dedicated application portal, initially scheduled to go live on April 22, will now launch on Monday, April 27, 2026, following final technical enhancements to ensure a seamless, secure, and transparent application experience for prospective candidates nationwide.
This landmark initiative, first announced by Leo Stan Ekeh, Africa’s foremost tech icon and chairman of Zinox Group, forms part of his unwavering commitment to national development and youth empowerment.
The programme was unveiled on February 22, 2026, when Ekeh marked his 70th birthday. Rather than host an elaborate celebration befitting a man of his stature, he chose to channel resources into a cause that would create long-term impact for an economy, offering university scholarships to indigent but brilliant Nigerian youths to study Computer Science in federal institutions.
Building on a legacy of over 6709 beneficiaries trained over four decades by him and his companies, Mr. Ekeh at the time said the goal is to nurture a new generation of highly skilled technology professionals capable of supporting both the private and public sectors, while positioning Nigeria for greater competitiveness in the global digital economy.
This vision reflects his decades-long commitment to building sustainable positive disruptive capacity within Nigeria’s technology ecosystem that shall alter the nation’s GDP.
The scholarship programme is designed to transcend mere financial support, offering beneficiaries access to a comprehensive ecosystem powered by the initiative’s distinguished partners. Beneficiaries will receive technical support, mentorship by very successful members of Nigeria Compute Society, and industry exposure to ensure that recipients are equipped with practical, market-relevant skills.
This multi-faceted approach ensures that scholarship beneficiaries gain not only theoretical knowledge but also hands-on experience and professional networks that will propel their careers in technology.
By leveraging the combined expertise and infrastructure of these industry leaders, the initiative is poised to deliver a transformative learning experience that prepares young Nigerians to compete effectively on the global stage. Beneficiaries will emerge as future-ready innovators capable of driving digital transformation across sectors and contributing meaningfully to Nigeria’s economic growth.
The initiative builds on the longstanding legacy of Leo Stan Ekeh, whose contributions to Nigeria’s technology landscape and by extension Africa have spanned decades and fundamentally reshaped the nation’s digital infrastructure. From pioneering indigenous computer manufacturing through Zinox Technologies to driving digital transformation across public and private sectors, Ekeh has consistently demonstrated a commitment to building sustainable technological capacity within Nigeria.
His investments in digital infrastructure, talent development, and indigenous innovation have positioned Nigeria as a formidable player in the global technology landscape.
This scholarship programme represents the latest chapter in that transformative journey, directly addressing the critical need for skilled technology professionals in an increasingly digital global economy.
As anticipation builds ahead of the April 27 launch, interested applicants are advised to visit the Konga.com website and click the Foundation banner on 1000 Tech Scholarships Awards where the application link and detailed participation guidelines will be published on the launch date. The organisers have assured that the selection process will be merit-driven, inclusive, and transparent, with a focus on identifying truly outstanding young talents from across Nigeria’s diverse regions.
General News
US Library Blames Hackers for Viral Posts Urging Violence in Nigeria

Westerville Public Library, a public library that serves the community of Westerville, Ohio, a suburb of Columbus in United States is in the news after its social account urged violence against Nigerian politicians.

Library staff said the inflammatory messages were not written by any employees and moved quickly to purge the feed and regain control of the account, rattling regulars who are used to the library’s usually low-traffic presence in Uptown Westerville.
The Columbus Dispatch reported that the library’s X account first posted a message calling for the death of Nigerian politicians, starting with the country’s president.
According to the paper, most of those posts were wiped from the feed within about half an hour.
The Dispatch also noted that the account had been sitting dormant since 2024 before the violent statements suddenly went live, and its full report includes the timeline and language that circulated on the platform.
After the posts appeared, the library issued a short note on X that read, “Please disregard any recent posts you may have seen from the Westerville Library on this platform today. Thank you for your understanding.” As reported by The Columbus Dispatch, communications director Tamara Murray told the paper the account was hacked shortly before the messages were published and that staff were working to recover passwords.
The library did not immediately say whether law enforcement had been notified.
General News
IshowSpeed’s African Tour was ‘Spy Job,’ for Elon Musk- Seun Kuti

Oluseun Anikulapo Kuti, popularly known Seun Kuti, Nigerian musician, has claimed that IShowSpeed, American streamer’s African tour was was funded by Elon Musk, billionaire tech mogul.

Seun Kuti
According to the singer and the youngest son of Fela Kuti, Afrobeat pioneer, the tour aimed at testing the reach of Musk’s satellite across the African continent.
Seun Kuti also explained that the streamer’s tour was not just to see the beauty of Africa, but was a spy job for Elon Musk.
”They all have the agenda. All that was a spy job for Elon Musk. I hail him and we have our own people pursuing him with us“, he added.
IShowSpeed completed a landmark 28-day tour of Africa, visiting 20 countries between December 29, 2025, and January 27, 2026, aimed at experiencing local cultures and engaging with fans.
The trip, which featured live-streamed visits to nations including Nigeria, South Africa, and Ghana, saw him surpass 50 million subscribers. He described the experience as life-changing.
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