Sale Of Intercontinental Bank: Court Summons Sanusi

6 years ago by: Clement
-- (m) at 26-03-2014 10:45AM

(74 | Newbie)

More trouble appears to be brewing for the suspended governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, as a Federal High Court sitting in Abuja has ordered the suspended governor to appear before it in a suit filed by some aggrieved shareholders of defunct Intercontinental Bank of Nigeria.

Ruling on an ex parte application filed by Mr Chris Uche on behalf of one Abdullahi Sani and two others, Justice Abdulramat Mohammed ordered the service of the originating summons on any adult in the office of the governor of the Central Bank of Nigeria on the notice board of the bank.

The plaintiffs, in their originating summons supported by a seven-paragraph affidavit want the court to determine whether the suspended governor, Lamido Sanusi did not act fraudulently by deliberately strangulating the banking operations of Intercontinental Bank to the detriment of the plaintiffs as shareholders.

They are therefore praying the court to declare the sale of Intercontinental Bank by Mr Lamido Sanusi as unlawful, fraudulent and of no legal effect whatsoever.

Joined in the suit as defendants, are the Central Bank of Nigeria and Securities and Exchange Commission.

Justice Mohammed subsequently fixed the suit for May 14

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