Business
Energy drink tussle: Court rules in favour of Mamuda Beverages Nigeria Limited

The Federal High Court sitting in Abuja has ruled in favour of Mamuda Beverages Nigeria Limited to first hear its preliminary objection to the suit filed against it by Rite Foods Limited before any other application in the matter.
In a ruling delivered on the 25th of April, 2025, Justice Emeka Nwite held that due to its decisive nature, the application challenging jurisdiction filed by Mamuda Beverages Nigeria Limited takes precedence over Rite Food Limited’s Motion Exparte. Thus, the Court would hear and determine it before taking any further step in the matter.
Rite Foods Limited approached the Court via Writ of Summons filed in Suit No. FHC/ABJ/CS/705/2025 to contest the production of Pop Power Energy Drinks over allegations that the drink has striking resemblance with one of its products.
The company through its lawyer, Booneyamen Lawal, SAN filed alongside the Writ, a Motion Exparte seeking preservative orders pending the hearing and determination of the substantive suit filed by it against the defendant, Mamuda Beverages Nigeria Limited.
The Motion Exparte was slated for hearing on 23rd of April, 2025. However, the defendant got wind of the application and swiftly filed through its lawyer, O.E.B Offiong, SAN, a preliminary objection challenging the court’s jurisdiction to entertain the suit.
In its preliminary objection, the defendant complained that Rite Foods Limited had on 28th January, 2025, filed a similar suit over the same issue and between the same parties which has already been decided by the court. It was stated that while not conceding to the allegations levied against it by Rite Foods Limited, Mamuda Beverages Nigeria Limited opted for settlement which was adopted by both parties and entered as consent judgment by the Federal High Court on 4th March, 2025. And that despite the consent judgment, the Plaintiff proceeded to file the instant suit against it, submitting that it amounts to abuse of court process, which robs the court of jurisdiction to entertain it. The defendant further communicated its concern to the plaintiff through a letter written on the defendant’s behalf by Aliyu & Musa Legal Practitioners & Consultants on 17th April, 2025.
On the said hearing date, Booneyamen Lawal, SAN led a team of lawyers in representing Rite Foods Limited, while O.E.B Offfiong appeared as lead Counsel on behalf Mamuda Beverages Nigeria Limited in company of 4 Senior Advocates of Nigeria and lawyers.
After announcing his appearance, Mr. Offiong drew the court’s attention to the preliminary objection filed on behalf of Mamuda Beverages Nigeria Limited, submitting that the court was bound to hear and determine it first, as it affects the jurisdiction of the court to entertain the suit.
Mr. Booneyamen disagreed with Mr. Offion’s position, submitting that the business of the day was hearing of the plaintiff’s Motion Exparte and that the defendant ought not be heard owing to the nature of a Motion Exparte which precludes service on a defendant or an appearance by such defendant.. He urged the court to proceed with the hearing of the plaintiff’s Motion Exparte.
Following lengthy arguments by both senior Counsel, the Court adjourned to 25th of April, 2025 for ruling on the application to be first heard by the Court.
The Court on 25th April, 2025, ruled in favour of the defendant, Mamuda Beverages Nigeria Limited, agreed with the position of its Counsel, Mr. Offiong, and held that owing to its decisive nature, the defendant’s preliminary objection challenging the court’s jurisdiction to entertain the suit has to be heard first before any other application in the matter.
In effect, the court held that the defendant’s preliminary objection takes precedence over the plaintiff’s Motion Exparte seeking preservatory orders.
The court finally adjourned the matter to 28th of May, 2025 for hearing of the defendant’s notice of preliminary objection.
Business
Naira appreciates massively against US dollar across official, black markets

The naira appreciated massively against the United States dollar across official and parallel foreign exchange markets to end the week on a good note.
The Central Bank of Nigeria’s data showed that the naira strengthened to N1,487.90 against the dollar on Friday, up from N1,498.98 on Thursday.
This means that the Naira firmed up against the dollar at the official market by N11.08 on a day-to-day basis.
At the black market, the naira appreciated by N15 to N1,522 on Friday per dollar from N1,537 on Thursday.
The development showed that the Naira gained against foreign exchange currenciesacross FX markets on Friday. This is a major boost from Wednesday and Thursday’s downtrend the naira experienced.
Ekwutosblog reports that the Naira gained N3.9 on a week-on-week basis when compared to N1,501.50 traded last week Friday.
This comes as the apex bank data showed that the country’s external reserves had continued its rise and stood at $41.99 billion as of September 18, 2025.
Business
Vietnam closes 86 million bank accounts over missing biometric verification

The government in Hanoi has ordered the closure of bank accounts lacking biometric verification, affecting over 86 million accounts.
Starting September 1, Vietnam has decided to permanently close more than 86 million bank accounts that did not comply with the new facial biometric authentication requirements. The remaining 113 million accounts have been subjected to verification under the new anti-fraud and anti-money laundering regulations.
The situation has particularly impacted foreigners residing in the Asian country. A Reddit user, a former international contractor, reported being forced to return to Vietnam in person to avoid the closure of his HSBCaccount, as remote solutions for biometric verification were not available.
“This is a very insidious way to do a bail-in while also increasing the surveillance state,”commented Marty Bent.
According to Daniel Batten, researcher and co-founder of CH4 Capital, these measures give the Vietnamese central bank “next-gen financial surveillance ability.”
The Hanoi government justified the introduction of the new rules by citing the increased use of generative AI and sophisticated spoofing techniques to bypass banking security systems. Last May, local police dismantled a laundering network that used fake facial scans and had moved approximately 1,000 billion Vietnamese dong ($39 million).
The new regulations require facial biometric authentication for first-time registration and online transfers over 10 million dong ($379), while combined transactions exceeding 20 million dong ($758) always require biometric verification.
Business
Court restrains NUPENG from going on strike, disrupting Dangote refinery’s operations

The National Industrial Court has granted an interim injunction restraining the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) from blocking Nigerian roads, or frustrating and shutting down the operations of Dangote refinery, MRS Oil Nigeria Limited, and MRS Oil and Gas Company Limited.
The court also restrained NUPENG and other drivers’ associations from embarking on an industrial action or compelling other truck drivers to join in its industrial action.
Emmanuel Subilim, the presiding judge, delivered the ruling on Wednesday following an ex parte motion filed by George Ibrahim, the refinery’s lawyer.
Ibrahim approached the court with an ex parte motion filed alongside the originating processes and a motion on notice, dated and filed September 15.
The lawyer prayed the court to direct NUPENG and its members to continue petroleum trucking services to the refinery, MRS, and the Nigerian public pending the determination of the motion on notice.
In an affidavit deposed by Ahmed Hashem, the group’s general manager, government and strategic relations of the refinery, the applicants provided an undertaking of damages to the organisation if the court ultimately rules against the restraining request.
After hearing Ibrahim, the judge held that “this court, having satisfied itself that there is a serious issue to be tried, that the balance of convenience tilts in favour of the Applicants (Dangote Refinery), that irreparable damage may be occasioned if the necessary orders are not granted, and that the Applicants have given an undertaking as to damages”.
He ruled that NUPENG ought to be restrained, granting interim injunction on the refinery’s request.
‘RESTRAINING ORDER TO LAST FOR SEVEN DAYS’
The judge noted that the restraining orders would remain in effect for seven days.
He further directed the applicants to serve the respondents with the motion on notice and all accompanying processes in the suit within seven days from the date of the order.
The judge also noted that the court’s authority to sit during the ongoing vacation would expire on September 23.
Consequently, he ordered that the case file be forwarded to the president of the National Industrial Court of Nigeria for reassignment to another judge, who will hear and determine the motion on notice as well as the substantive case on its merits.
On September 11, NUPENG placed its members on red alert for the resumption of its nationwide industrial action — two days after it suspended its strike action, in protest against Dangote refinery’s “anti-union practices”.
The union said it made the decision after Sayyu Dantata, the owner of Mrs Oil, allegedly instructed his truck drivers, who had been NUPENG-Petroleum Tanker Drivers (PTD) members for several years, to remove union stickers from their trucks.
NUPENG said the action led to an altercation between the truck drivers and its officials.
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