31st of May, 2027

Tribunal orders removal of ex-Bauchi governor from Premium Pension board

An arbitration tribunal has ordered the removal of Mohammed Abubakar, ex-Bauchi governor, and three directors from the board of Premium Pension Limited (PPL) after ruling that they qualify as politically exposed persons (PEPs) under the company’s shareholders’ agreement.

The tribunal delivered the final ruling on May 25, 2026, in a case instituted by Muhammed Barde, PPL’s co-founder, and three companies: Fendo Investments and Properties Limited, Olive Lime Limited, and Afric Capital Limited.

Sale M. Yunusa, ex-managing director (MD) of Urban Development Bank; Ibrahim Saleh Hassan, Mohammed M. Abdullahi, Yunusa Yakubu, Ibrahim Alhassan Babayo, Dauda Jabani Kwaji, Ali Saidu, Sirajo Abubakar Argungu, Farida K. Usa Kwaji, and Adama Inuwa were listed as the respondents in the legal dispute.

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