E-Business
First Bank in Trouble over Alleged Breach of Contract

First Bank Plc is to be sued for disobedience and breach of contract if it failed to obey the Federal High Court’s 48 hours ultimatum served to to it.
In a letter to the bank by A.A. Ibrahim SAN, counsel to Eleme Petro Chemical Co-operative Investment and Credit society Limited, it stated the position of the law as it pertains to obligations of a Bank to its customers, citing the case of Union Bank PLC vs N.M Okpara Chimaeze (2014) 9 NWLR (PT.1411) page 166 wherein Justice Ariwoola JSC. held that
It stated, “It is the duty of banker to its customer to honor and pay cheques drawn on it by the customer as long as it has in its possession at the material time sufficient and available funds for the purpose….”
The barrister told the bank that a pending appeal does not operate as stay of execution, saying that anything done contrary to the lawful order of a court is an infrigement of the customers right.
Recall that First Bank despite the order of Justice N.E Maha of the Federal High Court Abuja delivered on the 15th day of February 2021, vacating the interim restriction placed on the co-operatives’ account by EFCC, has refused and or neglected to obey the order.
Recall also that in February 26, 2009, the Federal Government through the National Council on Privatization had approved the sale of 10% of its equity shares in Indorama Eleme Petrochemicals ltd, Port Harcourt, Rivers State to the host community and interested staff of Indorama Eleme Petrochemicals ltd.
The 10% equity shares was shared as 7.5% to the host community while the remaining 2.5% was allotted to the Staff of Indoroma Eleme Petrochemicals.
Interested Staff came together under Eleme petrochemical co-operatives in compliance to the federal government directive that a special purpose vehicle be formed where all members will belong to enable them buy the shares.
According to the letter, problem began in 2013 when 10 staffs who initially subscribed to the purchase of the 2.5 equity shares had their jobs terminated from the employment of Indorama Eleme Petrochemicals.
It explained that lndoroma Petrochemicals since then began a legal battle as to whether the laid off staff can continue to enjoy the dividends since they were not longer staff in the company and in so doing sought to replace the laid off staff with new recruited staff.
It noted that when the shareholding became an issue the laid of staff approached the River State Ministry of Commerce and Industry to arbitrate between it and the cooperative, the Ministry gave an Arbitral Award in favor of the laid off staff and consequently the laid off staffs of the co-operative, approached the federal high court to enforce the arbitral award as required by law. The award became a judgment of the Federal High Court.
The newly recruited staff been instigated by their employers Indoroma Eleme Petrochemicals Company limited approached The National Industrial court stating that the arbitral award was illegally procured ,when the right thing to do was to have appealed the Federal High Court judgement, the industrial court in striking the case out stated that it can not sit on an appeal over a matter that has been decided by a court of co-ordinate jurisdiction. The newly recruited staff thereafter filed an Appeal over the decision of the Industrial court.
It is to be noted that the EFCC started to investigate the ownership of the shares of the cooperative after the cases at the Federal high court and the Industrial Court had been decided.
The cases pending in various courts over the ownership of the shares of Indorama was triggered by the BPE which was a party sued in the case at the Industrial court, when it petitioned the EFCC over the matter at the instigation of the newly recruited staff of Indorama and Indorama itself. We shall bring you further developments as they unfold.
E-Business
AfDB Adopts AI to Fast-track Africa’s Development Blueprint

The African Development Bank (AfDB) is betting big on Artificial Intelligence (AI) as a catalyst for delivering Africa’s ambitious Agenda 2063.
With hands-on training in tools like ChatGPT and Google Gemini, the Bank believes the results could redefine how the continent plans, measures, and delivers its development goals.
Through its Joint Secretariat Support Office, the AfDB has provided technical and financial support to the 5th annual training workshop for African Union member states, focusing on the use of AI to track and implement the second ten-year plan (2024–2033) of Agenda 2063.
The five-day workshop, held in Lusaka, Zambia, was co-organised by the African Union Commission and the African Capacity Building Foundation.
Participants from across the continent rolled up their sleeves for hands-on training with emerging AI platforms like Ailyse, Google AI Studio, and Perplexity.
The goal of Africa’s multilateral development finance institution is to turn complex development data into actionable insights that can drive smarter decisions, faster interventions, and more accountable governance.
AbibuTamu, lead programme co-ordinator at the AfDB, said AI was now an indispensable tool for Africa’s future.
“These tools are not only revolutionizing how data is collected, analysed, and reported, they are also enabling more targeted policy interventions and efficient resource allocation,” Tamu told delegates.
Agenda 2063, dubbed “The Africa We Want,” is the African Union’s 50-year blueprint for inclusive growth and sustainable development. The second 10-year plan prioritises industrialisation, digital transformation, and sustainable livelihoods.
With AI now in the mix, African policymakers can track progress in real-time, spot bottlenecks before they choke projects, and reallocate resources where they are needed most.
The AfDB’s backing underscores a broader strategy of boosting both human and institutional capacity that propels African states to harness the digital revolution.
Beyond technical skills, the Lusaka workshop doubled as a peer-learning platform, with countries sharing real-world success stories on integrating AI into national planning and reporting.
“If Agenda 2063 is Africa’s long-term roadmap, this AI training is about upgrading the continent’s GPS that ensures leaders not only know the destination, but also have the intelligence to navigate every twist and turn on the way,” said Tamu.
E-Business
Firm Shares Tips for Safer Remote Working

It is holiday season in many parts of the world. These days though, going on holiday does not always mean turning your back on office life – hybrid work cuts both ways.
Today’s widespread connectivity—available at airports, train stations, restaurants, hotels, and most indoor public spaces—makes staying connected easier than ever, with free Wi-Fi in many locations and reliable 4G or 5G coverage elsewhere, helping to facilitate a seamless blend of work and leisure even while on holiday.
This increase in connectivity among travellers has not gone unnoticed by cyber criminals. Kaspersky experts analysed nearly 25,000 free Wi-Fi spots in Paris ahead of the Summer Olympic Games and Paralympic Games. The analysis revealed that almost 25% of these networks had weak or no encryption, making users vulnerable to personal and banking data theft.
Travellers often have their guard down. The unfamiliar surroundings of a new location or a different language can throw up a useful smokescreen for a cyberattack, meaning additional care needs to be taken when logging on. Fortunately, a few smart tools and habits can help you stay protected while enjoying the flexibility of remote work.
Use a VPN for secure connections
A VPN is one of the most effective ways to safeguard users’ online activity, especially when working from unfamiliar locations. By encrypting Internet traffic, a VPN ensures that hackers can’t intercept sensitive data like login credentials or financial details. This is particularly important when accessing work emails or company files on public Wi-Fi, where cybercriminals often lurk.
Switch to an eSIM for reliable, secure mobile data
Another useful digital tool that provides a seamless way to stay connected using local mobile networks with no physical SIM card required is the eSIM. This is a game-changer for international travellers who want to avoid sky-high roaming charges or the hassle of hunting down temporary SIM cards in foreign countries.
With an eSIM, a user can download a local data plan before you even arrive at your destination, ensuring instant connectivity the moment you land. This eliminates the need to rely on unsecured Wi-Fi hotspots, significantly reducing your exposure to cyber threats.
Plus, many eSIM providers allow you to manage multiple profiles on a single device, making it easy to switch between work and personal data plans without juggling multiple phones.
Services like Kaspersky eSIM Store enables users to purchase and activate data plans in advance, track usage and top up as needed, all from a single app.
Enable two-factor authentication (2FA)
When travelling, people often leave devices unattended. To protect against unwanted people logging in, travellers should ensure two-factor authentication (2FA) is enabled on all critical accounts and that passwords are used on all devices.
Final tips for a secure workation
Even with a VPN, eSIM and 2FA in place, your devices still need strong defenses against malware, phishing scams and ransomware. Cybercriminals often target remote workers who may let their guard down while travelling, making real-time protection essential.
Modern antivirus software does more than just scan for viruses, it actively blocks malicious downloads, warns you about phishing attempts and even secures your passwords and financial data.
For the most robust security, consider a solution like Kaspersky Premium, which combines antivirus protection, a VPN and password management into a single, easy-to-use package.
By combining a VPN, eSIM and strong antivirus, you can work from anywhere with confidence, whether you’re sending emails from a poolside or joining a video call from a festival tent.
E-Business
Zequence Digital Boss Calls for Strong IP Laws Enforcement, to Protect Nigeria’s Software Sector

Mr Adeoye Oludamilola, managing director, Zequence Digital, a digital agency, has said strong enforcement of Intellectual Property (IP) laws , protection of Nigeria’s software industry against piracy will encourage innovation and investment.
Adeoye told reporters lately in Lagos that software piracy and the unauthorised use of proprietary technology are widespread in the country.
According to report Intellectual Property (IP) laws in software refers to the legal rights that protect the creations of the mind used in software development.
These rights, which include copyrights, patents, trade secrets, and trademarks, grant developers exclusive control over their software and related assets, preventing unauthorised use or reproduction.
Adeoye said that many startups do not protect their innovations, due to a lack of knowledge and the cumbersome legal processes involved.
“IP registration and litigation are expensive and time-consuming, which further discourages developers from protecting their work,” Adeoye said.
He added that the lack of awareness among developers about their IP rights contributed to the problem.
To address these challenges, Adeoye stressed the need for the formation of an IP Protection Consortium, comprising tech firms, legal experts, and regulators, to advocate for stronger IP enforcement.
He also suggested collaborating with legal tech startups to create simplified platforms for fast-tracked IP registration.
The managing director further called for joint initiatives between legal bodies and tech communities to launch IP rights education campaigns.
This, he said, would equip developers with the knowledge they needed to protect their innovations and grow their businesses.
Adeoye emphasised the need for the government and stakeholders to create an ecosystem for development and inclusivity by proactively engaging with regulators.
According to him, this will help ensure that policies are created with the input of concerned agencies and industry experts.
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